AZIENDA VENEZIANA DELLA MOBILITA’ SPA

Shareholders of AZIENDA VENEZIANA DELLA MOBILITÁ S.p.A.

The company has a single shareholder. The compagine sociale table in the notes to the company’s own statutory accounts for the year ended 31 December 2025 sets out the holding as follows.

The percentage is expressed by the source as a percentage of share capital, under the column heading partecipazione % al capitale sociale. The company reports a single class of ordinary shares and no other shareholder, and no voting-rights percentage is separately published, so the 100.00% figure above should be read as a share-capital figure rather than a stated voting-rights figure. The same table, with the same shareholder, share count and percentage, appears in the accounts for the year ended 31 December 2024. The notes to the consolidated accounts at both dates state that the share capital is held in its entirety by the sole shareholder, the Comune di Venezia, and that the subsidiaries hold no shares in AZIENDA VENEZIANA DELLA MOBILITÁ S.p.A.

The holding is corroborated independently by the Ministero dell’Economia e delle Finanze census of public shareholdings. In the return for 31 December 2023, filed by the Comune di Venezia as the declaring administration, the direct shareholding percentage (quota partecipazione diretta) is 100, indirect participation is recorded as “NO”, and the control type is recorded as controllo analogo — the form of control a public body exercises over an in-house company. The holding is therefore direct: there is no intermediate holding company in the chain, and no multiplication through a chain is required or appropriate.

Ultimate beneficial ownership

The ownership chain of AZIENDA VENEZIANA DELLA MOBILITÁ S.p.A. terminates in the Comune di Venezia, a municipal authority of the Italian Republic. A public authority of this kind has no beneficial owner in the KYB sense: there is no natural person who owns or ultimately controls it, and the municipality’s elected and appointed office-holders act in a public capacity and do not hold any interest in the company. The correct answer to the beneficial-ownership question for this entity is therefore that the ultimate owner is a public body, named here as the Comune di Venezia, and that no natural-person beneficial owner exists or should be inferred. The company additionally reports that it is subject to the direction and coordination (direzione e coordinamento) of the Comune di Venezia under articles 2497 and following of the Italian Civil Code.

No filing from Italy’s register of beneficial owners (Registro dei Titolari Effettivi) was obtained for this company, and none is published free of charge. Where such a filing exists for a wholly publicly owned company it commonly records senior managing officials in the absence of any owner; such officials are not owners, and no name from that source is reproduced here.

Data availability

Full. A shareholder is named, with a share count, an exact percentage, the basis on which the percentage is expressed, and an as-at date, from the entity’s own deposited accounts for two consecutive years and independently from a statutory government census. The ultimate controlling party is established. What is not available free of charge is a certified register extract (visura camerale) and any beneficial-ownership filing.

Sources

AVM S.p.A., Bilancio consolidato e Bilancio d’esercizio 2025, notes to the financial statements, compagine sociale table at 31 December 2025, and notes to the consolidated financial statements, share capital section; published by the company under article 29(1) of legislative decree 33/2013 and article 6(4) of legislative decree 175/2016; page bearing the publication date 16 July 2026. Retrieved 7 October 2026.

AVM S.p.A., Bilancio consolidato e Bilancio d’esercizio 2024, same sections, at 31 December 2024. Retrieved 7 October 2026.

Ministero dell’Economia e delle Finanze, Dipartimento dell’Economia, open data on public shareholdings, Dati partecipazioni al 31/12/2023 (dataset published 10 March 2026), record declared by Comune di Venezia for Azienda Veneziana della Mobilità S.p.A., codice fiscale 03096680271: fields quota partecipazione diretta (%), partecipazione indiretta and tipo controllo. Retrieved 7 October 2026.

Directors and officers of AZIENDA VENEZIANA DELLA MOBILITÁ S.p.A.

The company is administered by a consiglio di amministrazione (board of directors) of five members. Its own transparency publication states that, in compliance with legislative decree 175/2016, no specific delegated powers have been conferred on any individual member of the administrative body; there is accordingly no amministratore delegato (managing director). The members below were appointed by the shareholders’ meeting of 6 July 2026, giving effect to a designation by the Mayor of Venice recorded as p.g. 2026/0383801 of 6 July 2026, for a mandate the same resolution fixed as expiring on 30 September 2026.

The three members of the collegio sindacale are recorded as holding those offices in the company’s accounts for the years ended 31 December 2024 and 31 December 2025, and all three are recorded as members of that body in the minutes of the shareholders’ meetings of 29 June 2023 and 6 July 2026. No appointment date or expiry date for the collegio sindacale is given in any source obtained.

Minutes and accounts style several of these office-holders with Italian professional titles — avv. (avvocato, lawyer), dott. and sig./sig.ra; the 6 July 2026 minutes are signed “prof. avv. Paolo Pettinelli”. These are professional or courtesy titles appearing in the filings and are not corporate roles; occupation is otherwise not disclosed. Nationality is not disclosed for any office-holder in any source obtained, and no nationality should be inferred from a name. Country of residence and correspondence address are likewise not published, and are separate matters from nationality. No date of birth or codice fiscale is reproduced here.

Recent officer changes

• 6 July 2026 — the shareholders’ meeting appointed the five members listed above. Jessica Gasparon enters the board as consigliere. Helenia Barban, who had been appointed consigliere by the shareholders’ meeting of 29 June 2023 and is listed in that role in the accounts for the year ended 31 December 2024, does not appear in the 6 July 2026 board. Source: extract of the minutes of the ordinary shareholders’ meeting of 6 July 2026, published by the company.
• 6 July 2026 — the same minutes record that the mandate conferred on 29 June 2023 had expired on approval of the accounts for the year ended 31 December 2025 and was at that point continuing in office (in proroga) under article 11(15) of legislative decree 175/2016 and article 3 of decree-law 293/1994, converted by law 444/1994. Source: as above.
• 30 September 2026 — stated expiry of the mandate conferred on 6 July 2026. The 6 July 2026 resolution records that the short term was set because the Mayor had only recently taken office following the municipal elections of May 2026, to allow a transitional period before the company’s governance arrangements were settled. Source: as above.

Data availability

Current only. The composition of both the administrative body and the collegio sindacale is published, and the administrative body carries an exact appointment date, appointing instrument and stated term. Appointment dates for the collegio sindacale are not published in the sources obtained, nor is any nationality, residence or correspondence address for any office-holder, and no complete historical series of office-holders is published. As at 7 October 2026 the company had published no appointment taking effect after the stated expiry of the mandate on 30 September 2026; the statutory continuation-in-office provisions the company itself invoked in July 2026 apply on expiry until a new appointment is made, so the office-holders above are stated here as appointed on 6 July 2026 for a term expiring 30 September 2026 rather than as holders of office on a later date.

Sources

AVM S.p.A., extract of the minutes of the ordinary shareholders’ meeting of 6 July 2026, item 4, appointment of the administrative body of A.V.M. S.p.A. and determination of remuneration under article 2364(1)(2) and (3) of the Civil Code; published by the company under article 14(1) of legislative decree 33/2013. Retrieved 7 October 2026.

AVM S.p.A., extract of the minutes of the ordinary shareholders’ meeting of 29 June 2023, item 6, appointment of the administrative body; published by the company under the same provision. Retrieved 7 October 2026.

AVM S.p.A., transparency publication “Titolari di incarichi politici, di amministrazione, di direzione o di governo”, table of holders of office in post from 06/07/2026, giving name, role and stated duration of mandate. Retrieved 7 October 2026.

AVM S.p.A., transparency publication “Organi di amministrazione e gestione” (article 13(1)(a), legislative decree 33/2013), on the five-member board, the powers conferred on the chair and the absence of further delegated powers. Retrieved 7 October 2026.

AVM S.p.A., Bilancio consolidato e Bilancio d’esercizio 2025 and 2024, “Organi sociali” pages listing the consiglio di amministrazione, collegio sindacale, organismo di vigilanza, società di revisione and direzione generale. Retrieved 7 October 2026.

Group structure of AZIENDA VENEZIANA DELLA MOBILITÁ S.p.A.

AZIENDA VENEZIANA DELLA MOBILITÁ S.p.A. is the capogruppo (parent) of the Venice municipal mobility companies and has prepared consolidated accounts since the 2012 financial year. The relationships below are taken from the company’s own deposited accounts and from a statutory government transparency publication. They are not inferred from the shared “AVM” and “Actv” branding or from the fact that the group’s websites sit on a single domain; neither of those is evidence of a corporate link.

The relationship between AZIENDA VENEZIANA DELLA MOBILITÁ S.p.A. and Actv S.p.A. is established by two passages in the company’s deposited accounts for the year ended 31 December 2025: the management report, which states that the consolidation scope comprises AVM S.p.A. as parent, Actv S.p.A. as a subsidiary held as to 66.527% of its shares and VE.LA. S.p.A. as a subsidiary held as to 88.86%, and that control of Actv S.p.A. was acquired on 27 April 2012; and the schedule of fixed-asset holdings in subsidiaries in the notes to the entity accounts, which lists Actv S.p.A. with its codice fiscale, its share capital, its result for the year, its net equity and a holding of 66.53%, carried in the parent’s own balance sheet at EUR 39,980,480. Actv S.p.A. is therefore a direct, not an indirect, subsidiary. The accounts also state that neither subsidiary holds any shares in AZIENDA VENEZIANA DELLA MOBILITÁ S.p.A.

The group was formed in the 2012 financial year to give effect to the reorganisation of the Comune di Venezia’s mobility companies set out in the municipality’s executive resolution n. 126/2011 and council resolution n. 140/2011, following a policy act of the municipal executive n. 44 of 4 November 2010.

No intermediate holding company stands between the Comune di Venezia and AZIENDA VENEZIANA DELLA MOBILITÁ S.p.A.: the Ministero dell’Economia e delle Finanze census records the municipality’s participation as direct and records no indirect participation. The company has no recorded branches or foreign presence in the sources obtained; the accounts state that the activities are carried out in the territory of the Comune di Venezia and the Città Metropolitana di Venezia.

One source does not corroborate this structure. The Global Legal Entity Identifier Foundation record for LEI 81560087D48C6B3CA956 reports no direct parent and no ultimate parent, each as a reporting exception with the reason “NO_KNOWN_PERSON”, and lists no direct children. GLEIF therefore records neither the municipal ownership nor the holdings in Actv S.p.A. and VE.LA. S.p.A., and an absence of relationship records in GLEIF is not evidence that the company has no parent or no subsidiaries.

Recent structural changes

• 29 September 2025 — the group’s macro-structure was changed by resolutions of the boards of AZIENDA VENEZIANA DELLA MOBILITÁ S.p.A. and Actv S.p.A. of that date, adopted by VE.LA. S.p.A. by determination of its sole director n. 20 of the same date, followed by shareholder resolutions of all three companies on 13 October 2025. The intra-group services agreement between the three companies was correspondingly updated on 29 October 2025.
• End of 2017 — completion of the non-proportional total demerger of Società del Patrimonio per la Mobilità Veneziana S.p.A., carried out under the group rationalisation plan directed by the Comune di Venezia, with that company’s assets passing partly to AZIENDA VENEZIANA DELLA MOBILITÁ S.p.A. and partly to Actv S.p.A.

The consolidation scope was unchanged between 31 December 2024 and 31 December 2025: the same two subsidiaries at the same percentages are reported at both dates.

Data availability

Full. The controlling party is named with an exact percentage, a stated basis and an as-at date; both subsidiaries are named with codice fiscale, exact percentages, as-at dates and the dates on which control was acquired; a historical relationship is identified with the mechanism and period of its termination. What is not available free of charge is a certified register extract for any of the entities, and the percentage formerly held in PMV S.p.A. is not stated in the sources obtained.

Sources

AVM S.p.A., Bilancio consolidato e Bilancio d’esercizio 2025: management report on the consolidated accounts at 31 December 2025 (consolidation scope, percentages held in Actv S.p.A. and VE.LA. S.p.A., dates of acquisition of control, formation of the group, demerger of PMV S.p.A., territory of operation); notes to the entity accounts, schedule of fixed-asset holdings in subsidiaries at 31 December 2025; notes to the consolidated accounts, share capital section; and the section on intra-group service arrangements. Published by the company under article 29(1) of legislative decree 33/2013 and article 6(4) of legislative decree 175/2016. Retrieved 7 October 2026.

AVM S.p.A., Bilancio consolidato e Bilancio d’esercizio 2024, equivalent sections at 31 December 2024, including the general information page recording group membership as parent company. Retrieved 7 October 2026.

Ministero dell’Economia e delle Finanze, Dipartimento dell’Economia, open data on public shareholdings, Dati partecipazioni al 31/12/2023 (dataset published 10 March 2026), record declared by Comune di Venezia: direct participation 100, indirect participation “NO”, control type controllo analogo. Retrieved 7 October 2026.

Global Legal Entity Identifier Foundation, LEI record 81560087D48C6B3CA956 and its direct-parent, ultimate-parent and direct-children relationship endpoints, golden copy publication date 7 October 2026. Retrieved 7 October 2026.