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CONSOLIDATED FINANCIAL REPORT | EXPLANATORY NOTES

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21. PERSONNEL COSTS

Personnel costs are detailed as follows:

Share-based payments

At 31 December 2015 and 31 December 2014, the Prysmian Group had share-based compensation plans in

place for managers and employees of Group companies and for members of the Parent Company's Board of

Directors. These plans are described below.

Group employee share purchase plan (YES Plan)

On 16 April 2013, the shareholders approved a share purchase plan reserved for employees of Prysmian

S.p.A. and/or of its subsidiaries, including some of the Company's Directors, and granted the Board of

Directors the relevant powers to establish and implement this plan.

The reasons behind the introduction of the Plan are:

to strengthen the sense of belonging to the Group by offering employees an opportunity to share in

its successes, through equity ownership;

to align the interests of the Prysmian Group's stakeholders (its employees and shareholders), by

identifying a common goal of creating long-term value;

to help consolidate the integration process started in the wake of the Draka Group's acquisition.

The Plan offers the opportunity to purchase Prysmian's ordinary shares on preferential terms, with a

maximum discount of 25% on the stock price, given in the form of treasury shares, except for certain

managers, for whom the discount is 15%, and the executive Directors and key management personnel, for

whom the discount is 1% on the stock price.