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

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pletely different position compared to VOLKSWAGEN, and the Company can be considered to have reached VOLKSWAGEN’s level now, on its own and risking a lot, going to America at an apparently bad time to acquire a company which had been managed by Ger- mans for ten years without ever producing results such as those that have been achieved in partner- ship with FIAT; he believes, in all humility and frankness, that the path followed by FIAT over the past nine years has been an acceptable one. <strong>Share</strong>holders gave a round of applause. The CEO Sergio MARCHIONNE recognized that more could have been done, but he asked that the Company be given the opportunity to move forward and create a future; he considers the level of financial resources maintained by the Group to be necessary, but agrees that the level of liquidity reported in FI- AT’s financial statements of 20.8 billion at year- end 2012 is very high; he observed that this level of liquidity is the result of several factors, firstly the continuing uncertainty at both the industrial and financial level, at least when it comes to managing European 40
markets; he recalled that in 2008 and 2009 we already expe- rienced an incredible tightening in financial markets with the resulting inability to access markets because they were frozen; he was of the opinion that, until the European situation became more certain, it was prudent, as FIAT has done, to maintain maximum liquidity, even though he recognizes that this involves a high cost for the Company in terms of interest; he ex- plained that this was necessary to ensure that the Company could continue to operate; he recognized that one of the alternative uses for the liquidity would be to purchase the VEBA stake and observed that, if an agreement was reached with VEBA to acquire its minority stake in CHRYS- LER, the Company would already have the funds available; he observed that this was not necessarily a perma- nent solution in terms of the Company’s <strong>capital</strong>; he shared the admiration of the shareholder BECHERE for the Germans and promised that, with a bit of time, FIAT would reach their level. Giovanni ANTOLINI (shareholder) complained that the time given for addresses was 41
Page 1 and 2: This document has been translated i
Page 3 and 4: volumes actually the lowest on reco
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
Page 13 and 14: He then specified that once the tim
Page 15 and 16: eing asked of them provided that fu
Page 17 and 18: statement about not standing the ar
Page 19 and 20: he noted that additional factors pr
Page 21 and 22: website for more information; on th
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Page 25 and 26: that the choice of dividing FIAT in
Page 27 and 28: hicles at the new Grugliasco site a
Page 29 and 30: tal development of the previous str
Page 31 and 32: immovable assets and asked that the
Page 33 and 34: sponded that: the joint venture in
Page 35 and 36: of the mass-market brands also in A
Page 37 and 38: ence; in 2013 La Stampa will be foc
Page 39: he pointed out that the assessments
Page 43 and 44: given for addresses is too short, t
Page 45 and 46: He then declared that the voting wa
Page 47 and 48: - those against bringing action sho
Page 49 and 50: of the shareholder resolution of 4
Page 51 and 52: overall sum of €7,373,300, which
Page 53 and 54: size of the company, the size of th
Page 55 and 56: could not go into here; he consider
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Page 59 and 60: he recommended shareholders exercis
Page 61 and 62: of a technical department supervise
Page 63 and 64: he claimed that directors would be
Page 65 and 66: chairman of Ferrari S.p.A., which w
Page 67 and 68: charges for maintenance; he asked w
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Page 71 and 72: tions and not voted, together with
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
Page 83 and 84: In the United States, the industry
Page 85 and 86: Boosted by the introduction of gove
Page 87 and 88: In terms of sales performance by in
Page 89 and 90: 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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