Form of Proxy

IVECO GROUP N.V

BD Client Code:

Client Name:

Number of Shares Held in a BD Nominee Company:

No.	Proposition		For	Against	Abstain
1	PROPOSAL TO APPROVE THE INTERIM DIVIDEND DISTRIBUTION RESULTING FROM THE SALE OF THE DEFENCE BUSINESS
2	PROPOSAL TO RESOLVE UPON THE DEMERGER, AS THE INSTRUMENT TO HIVE OFF THE DEFENCE BUSINESS