"Fiat S.p.A." Registered Office: via Nizza 250, Turin Share capital ...

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pany of FIAT’s importance does not demonstrate confidence in Italy; he noted that VOLKSWAGEN shares increased 47%, BMW’s increased by 29% and DAIMLER’s by 26% and that VOLKSWAGEN’s profit was 21.8 billion while FIAT’s were fifteen times less at 1.4 billion; he believes that no blame could be attributed to the management, and reminded everyone that at VOLKSWAGEN, strikes are virtually non-existent with only one strike in the past twenty-five years; he observed that, with regard to liquidity, VOLKSWAGEN reduced its liquidity from 17 to 10.6 billion in 2012, while FIAT, although smaller than VOLKSWAGEN, has a liquidity of 20.8 billion, despite higher interest rates paid by Italian compa- nies compared to their German counterparts; he asked whether this liquidity was a reserve in view of the increase in CHRYSLER; he claimed that it was a mistake not to distribute dividends because it signals a lack of confidence in Italy. The CEO Sergio MARCHIONNE stated that he did not wish to comment on paral- lels between FIAT and the government; 38
he pointed out that the assessments he made on the commercial policy of VOLKSWAGEN are his own per- sonal opinions based on his observations of the company’s behavior in European markets at a commercial level, especially at a time when all of its competitors are experience such extreme diffi- culty; he declared that he never questioned the technical ability of German competitors to produce vehicles that are appreciated internationally and he will not do so in the future either; he considers the Germans valid competitors, that have made great achievements in the past; he believes, however, certain behavior in the markets is acceptable, whereas others are not acceptable and believed he was quite clear in his assessment of the competition, at least certain German automakers; he reminded those present, with regard to FIAT’s performance in terms of both share price and dividends, what the starting position was in 2004; he agreed with the shareholder’s assessment that in the past nine years not enough had been done, but efforts were made to do the best possible; he observed that in 2004 FIAT started from a com- 39
Page 1 and 2: This document has been translated i
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Page 5 and 6: past 10 years." The memory of Giann
Page 7 and 8: * VANGUARD INTERNATIONAL GROWTH FUN
Page 9 and 10: with 2 minutes for replies. Marco G
Page 11 and 12: is also stated that: "For questions
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Page 31 and 32: immovable assets and asked that the
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Page 41 and 42: markets; he recalled that in 2008 a
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Page 45 and 46: He then declared that the voting wa
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Page 51 and 52: overall sum of €7,373,300, which
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Page 73 and 74: . Attachment "A" the text of the ad
Page 75 and 76: Good Morning Shareholders. The Grou
Page 77 and 78: In absence of mutual agreement on a
Page 79 and 80: In Asia, in addition to the launch
Page 81 and 82: Turning to Group results, in 2012 w
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Page 85 and 86: Boosted by the introduction of gove
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European passenger car demand was d
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The next few slides give an overvie
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In APAC, we launched two key produc
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Turning to the outlook for 2013, ou
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For our Luxury and Performance bran
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Efforts to align our activities to
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Before closing, I would like to mak
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There are 215,000 employees worldwi
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However, EMEA cannot survive indefi
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Second: we can leverage the experie
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Work is also underway to prepare th
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A sign of hope and of commitment. I
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We can’t recreate the Fiat of the
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a) Compensation Policy pursuant to
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The table below summarizes the main
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In general, the fixed compensation
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With regard to allowances in the ev
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L. Cessation of office or terminati
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) Authorization for the Purchase an
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Fiat S.p.A. AGM 09/04/2013 LIST OF
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