Luxottica Group, S.p.A. (LUX)

1.  THE DISTRIBUTION OF DIVIDENDS

        The holders of Ordinary Shares shall be requested to approve the proposed dividend distribution payable out of a portion of the extraordinary reserve. The extraordinary reserve is derived from the Statutory Financial Statements of the Company as of and for the fiscal year ended December 31, 2008 and excess net income allocated to it through the resolution of the stockholders at the meeting held on April 29, 2009 approving the allocation of net income for 2008. Upon the resolution of the stockholders at that meeting allocating Euro 111,833,515 to the extraordinary reserve, the extraordinary reserve has been set at an aggregate amount equal to Euro 868.7 million,

        The Board will propose that the holders of Ordinary Shares approve the distribution of dividends in the gross amount of Euro 0.22 per Ordinary Share (each ADS represents one Ordinary Share) from the Company's extraordinary reserve. If approved, the maximum aggregate amount that could be paid by the Company in connection with this year's dividend, based on the current issued and outstanding share capital and assuming that all stock option beneficiaries exercised all their vested options, would be approximately Euro 103 million.

        With a view to enabling all non-Italian resident holders of the ADS to provide the documentation required to achieve the application of reduced Italian substitute tax on dividends, pursuant to the applicable tax treaties between Italy and other countries or pursuant to Italian law, the Board will propose to set November 26, 2009, as the date for payment of dividends to all holders of Ordinary Shares of record on November 25, 2009, including Deutsche Bank Trust Company Americas as depositary on behalf of the ADS holders.

        Deutsche Bank Trust Company Americas, acting as depositary with respect to the ADSs, has advised the Company that the dividend amount for each ADS holder will be paid commencing on December 4, 2009 to all such holders of record on November 25, 2009. Deutsche Bank Trust Company Americas has advised the Company that after the close of business on November 20, 2009 through and including November 25, 2009 it will close its books and will not accept deposits or cancellations of Ordinary Shares or ADSs, as applicable. Deutsche Bank Trust Company Americas shall pay such dividends in U.S. dollars by converting the Euro amount of the dividend, net of the applicable tax, at the market Euro/U.S. dollar exchange rate in effect on November 27, 2009. Attached to this Proxy Statement as Annex A you will find a letter from the Company providing information as to the procedure to be used by ADS holders who are U.S. residents, Italian residents or residents of countries having anti-double taxation treaties with the Republic of Italy, companies or entities subject to corporation tax and resident in states that are members of the European Union or participants to the European Economic Area ("EU Entities") and are included in the list provided for by Italian Ministerial Decree 4 September 1996 (as amended and supplemented, the "Decree"), or pension funds established in EU Entities and included in the Decree, for the purposes of obtaining reduced/NIL tax on dividends provided for by the Italian domestic legislation or the applicable tax treaties.