ASTM GROUP A global player in the major infrastructure sector - Itinera Infrastructure ...

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ASTM GROUP A global player in the major infrastructure sector - Itinera Infrastructure ...
ASTM GROUP
        A global player
in the major infrastructure sector
ASTM GROUP A global player in the major infrastructure sector - Itinera Infrastructure ...
2   ASTM GROUP PRESENTATION

ASTM GROUP

HIGHLIGHTS

ASTM Group is a global
player in the design,
construction and
management of major
infrastructural projects.

Today, the Group, through
SIAS and EcoRodovias
companies, is the third
largest operator in the
management of toll
motorway concessions.

                                We connect ideas, people and goods,
                               guaranteeing growth, safety and quality
                                     for our global stakeholders
ASTM GROUP A global player in the major infrastructure sector - Itinera Infrastructure ...
3   ASTM GROUP PRESENTATION

ASTM GROUP

BUSINESS
SECTORS
                                       EPC
                                    CONTRACTOR
The Group's activities are
focused on the following                               MOTORWAY
sector:                                               CONCESSIONS
MANAGEMENT OF
MOTORWAY CONCESSIONS
EPC CONTRACTOR
(Engineering, Procurement
and Construction)
                               ENGINEERING
ENGINEERING
TECHNOLOGY                                       TECHNOLOGY
ASTM GROUP A global player in the major infrastructure sector - Itinera Infrastructure ...
4   ASTM GROUP PRESENTATION

ASTM GROUP
                                                Financing
OUR SKILLS:
INTEGRATED
AND SYNERGIC
COMPETENCIES
                                              GREENFIELD
A global presence in the
infrastructure sector, with
                               Origination   YELLOWFIELD    Construction

advanced financing,                          CONCESSIONS
engineering, construction
and management
capabilities.

With our integrated skills
we create value.
                                               Management
ASTM GROUP A global player in the major infrastructure sector - Itinera Infrastructure ...
5   ASTM GROUP PRESENTATION

ASTM GROUP

OUR SKILLS:
ONE COMPANY

ONE COMPANY
An integrated business model,
based on synergies, to develop
business opportunities in an
increasingly competitive global
scenario
ASTM GROUP A global player in the major infrastructure sector - Itinera Infrastructure ...
6   ASTM GROUP PRESENTATION

ASTM GROUP                           People         Competence      Know-How

THE BASIS OF
OUR OPERATE

An industrial vision
focused on:

COMPETENCE
PEOPLE
KNOW-HOW

                                Our people, our skills and our know-how are the
                               building blocks on which our work is based every day
ASTM GROUP A global player in the major infrastructure sector - Itinera Infrastructure ...
7   ASTM GROUP PRESENTATION

ASTM GROUP

GROUP
STRUCTURE

ASTM is controlled by
Gavio Group, one of the
main    Italian   industrial
groups, owned by Aurelia -
Gavio family (60%) and
Ardian (40%), a world-
leading private investment
house.
ASTM GROUP A global player in the major infrastructure sector - Itinera Infrastructure ...
8   ASTM GROUP PRESENTATION

ASTM GROUP

KEY FIGURES                    ~1,423 km
                               the main motorway operator in the
                               north-west of Italy

ASTM Group, through the
subsidiaries SIAS and
EcoRodovias, is the third
largest motorway operator
in the world in terms of
                               ~2,649 km
kilometres managed.            through the joint control of EcoRodovias,
                               the Group is the second biggest
                               motorway operator in Brazil

4,156 km
motorway network

                               84 km
                               through its holding in Road Link
                               (Newcastle-Carlisle section)
ASTM GROUP A global player in the major infrastructure sector - Itinera Infrastructure ...
9   ASTM GROUP PRESENTATION

ASTM GROUP
                                                € 1.7 billion                                  € 1.2 billion
KEY FIGURES                                     ASTM revenues 2018                             SIAS revenues 2018

                                                 ~ 10,000                                      ~ € 5 billion
                                                 employees                                     EPC backlog (Itinera)

                                                                       3 listed companies

                                                   € 1.6 Billion (1)       € 3.5 Billion (1)           $R 5.4 Billion (1)
                                                   Mkt Cap                 Mkt Cap                     Mkt Cap

                              (1)   data as 29/03/2019
ASTM GROUP A global player in the major infrastructure sector - Itinera Infrastructure ...
10   ASTM GROUP PRESENTATION

ASTM GROUP

INTERNATIONAL
PRESENCE
ITALY
ABU DHABI
ALBANIA
ANGOLA
AUSTRIA
BOTSWANA
BRAZIL
DENMARK
DUBAI
FRANCE
KENYA
KUWAIT
OMAN
PORTUGAL
ROMANIA
SAUDI ARABIA
SOUTH AFRICA
SWEDEN
SWITZERLAND
UNITED KINGDOM
UNITED STATES
11   ASTM GROUP PRESENTATION
                                        Being sustainable
                                  means creating value over time.
ASTM GROUP                              A value that is shared
                                with all of the Group’s Stakeholders.
SUSTAINABILITY:
CONNECTED TO
TOMORROW

The Group is committed to
operating in a responsible
manner, integrating the key
principles of sustainability
into its business activities.

ASTM Group has started a
path of sustainability,
drawing inspiration from the
"Ten Principles" of the
United Nations Global
Compact initiative and the
ISO 26000:2010 Guidelines.
12   ASTM GROUP PRESENTATION

                                                “One           Safety and
ASTM GROUP                                      Company”       service quality
OUR
                               Sustainability
VALUES
                                                                           Transparency

                                                                                    People
                               Innovation
                                                       OUR
                                                      VALUES
                                                                                  Team work
                               Integrity

                                                                                 Human
                                                                                 resources
                                     Accountability                              development

                                                      Long-term value
                                                      creation for the
                                                      Stakeholder
ASTM GROUP PRESENTATION

MOTORWAY
CONCESSIONS

SIAS
ECORODOVIAS
14   ASTM GROUP PRESENTATION

MOTORWAY CONCESSIONS

A GLOBAL
PLAYER                         The Group boasts a consolidated
                               experience in the development,
                               financing, management and
SIAS                           maintenance of road and
                               motorway infrastructures
ECORODOVIAS

                               The Group is the 3rd largest
                               operator with approximately 4,156
                               km under management worldwide
15   ASTM GROUP PRESENTATION
                                                SIAS is the main motorway operator in
                               1,423 km         the North-West of Italy, one of the
                               13 Concessions   wealthiest areas in Europe, representing
MOTORWAY CONCESSIONS                            23% of the national grid

THE NETWORK
MANAGED BY                     2,649 km         EcoRodovias, jointly controlled with
                                                CR Almeida, is the second biggest
THE GROUP                      10 Concessions   motorway operator in Brazil

                                                Newcastle-Carlisle (A69), jointly
                               84 km            managed with RoadLink Holding, is a
                               1 Concessions    major Northern trunk road in the UK
16   ASTM GROUP PRESENTATION

                                                                                                                                                                                            BR-135
                                                                                                                                                                                           Acquisition
                                                                                                                                                                                        Secondary Market

MOTORWAY CONCESSIONS                                                                                                                                                                        364 Km

A SUCCESS                                                                                                                                                                                    MGO
                                                                                                                                                                                           Acquisition
                                                                                                                                                                                        Secondary Market

STORY
                                                                                                   TE
                                                                                                                                                                                             437 Km
                                                                                          Equity Subscription
                                                                                           Primary Market

                                                                                                 32 Km                                                                                  RODOANEL NORTE

                                                                                                                                                                                             Tender
                                                                                                                                                                                         Primary Market

The Group's strategy has                                                                                                                                                                     48 Km

always focused on                                                           ATS
                                                                                                                                                                    ECORODOVIAS
operations which target                                                Acquisition
                                                                    Secondary Market                                                                                 Acquisition
growth, with a robust,                                                    131 Km
                                                                                                                                                                  Secondary Market

                                                                                                                                                                       1,792 Km
sustainable and
conservative financial
                                      VESPUCIO SUR, NORORIENTE
profile.                                 & LITORAL CENTRAL(2)                                                                             AUTOVIA PADANA

                                             Acquisition                                                                                        Tender
                                          Secondary Market                                                                                  Primary Market

                                              146 Km                                                                                            112 Km

                                 COSTANERA NORTE & AMB(1)                                                           SIAS PARKING(3)
                                         Acquisition
                                      Secondary Market                                                                Acquisition
                                                                                                                   Secondary Market
                                           43 Km
                                                                                                                   11,500 parking lots

                               2006             2009                      2012                    2013                    2014                   2015                    2016                  2018

                                                    (1) Asset   held with Atlantia and Mediobanca, sold in 2012 - (2) Asset held with Atlantia, sold in 2012 - (3) Asset sold in 2017
17   ASTM GROUP PRESENTATION

                                  The Group's motorway network runs
                                  along the main European infrastructural
MOTORWAY CONCESSIONS              corridors, and along the strategic routes
                                  identified by the European Community for
THE MOTORWAY                      the transportation of people and goods.
NETWORK IN
ITALY
SIAS

The ASTM Group, through its
subsidiary SIAS, is the leading
motorway operator in the
North-East of Italy, with
around 1,423 km of road
network, in one of the
regions with the highest
income per capita in Europe.
18   ASTM GROUP PRESENTATION
                                               KEY FIGURES 2018 SIAS Group

MOTORWAY CONCESSIONS

THE MOTORWAY                   € 1,2 billion        € 748 million            € 265 million
                               Revenues             EBITDA                   Net income
NETWORK IN
ITALY
SIAS
                                          2.631                  € 10,7 billion
                                          Employees              Gross capital
                                                                 employed
19   ASTM GROUP PRESENTATION

MOTORWAY CONCESSIONS

THE MOTORWAY
NETWORK IN
ITALY
SIAS

The SIAS Group motorway
network in Italy is located in the
North-West of the country, an
area with one of the highest
levels of income in Europe.

It represents around 23% of the
national motorway network,
and constitutes an integral
component of the main trans-
European corridors.

(TEN-T networks: the Mediterranean corridors
which run south-north and east-west)
                                               Subsidiary licensees

                                               Jointly controlled entities and
                                               associated companies
20   ASTM GROUP PRESENTATION

                               SUBSIDIARY LICENSEES
MOTORWAY CONCESSIONS
                                LICENSEE              SECTION                                                         SHARE    KM

THE MOTORWAY                    SATAP
                                                      A4: Turin-Milan

                                                      A21: Turin-Piacenza
                                                                                                                      99.87%
                                                                                                                               130.3

                                                                                                                               167.7

NETWORK IN                      SALT
                                                      A12: Sestri Levante-Livorno-Viareggio-Lucca-Fornola-La Spezia
                                                                                                                      95.18%
                                                                                                                               154.9

ITALY
                                                      A15: La Spezia-Parma                                                     182

                                SAV                   A5: Quincinetto-Aosta                                           65.09%   59.5

SIAS
                                                      A10: Savona-Ventimiglia                                                  113.2
                                ADF                                                                                   70.91%
                                                      A6: Turin-Savona                                                         130.9

                                ASTI-CUNEO            A33: Asti-Cuneo                                                 60.00%    90

                                AUTOVIA PADANA        A21: Piacenza-Brescia                                           51.00%   111.6

                               JOINTLY CONTROLLED ENTITIES AND ASSOCIATED COMPANIES
                                LICENSEE              SECTION                                                         SHARE    KM

                                                      A4-A5: Tangenziale di Torino (Turin Ring Road)
                                                      Turin-Quincinetto
                                ATIVA                                                                                 41.17%   155.8
                                                      Ivrea-Santhià
                                                      Turin-Pinerolo

                                TE                    A58: Tangenziale Esterna di Milano (Milan Outer Ring Road)      48.30%    32

                                SITRASB               T2: Great St. Bernard Tunnel                                    36.50%   12.8

                                                      A32-T4: Frejus Tunnel
                                SITAF                                                                                 36.50%    94
                                                      Turin-Bardonecchia
21   ASTM GROUP PRESENTATION

MOTORWAY CONCESSIONS

THE MOTORWAY
NETWORK IN
ITALY
                                                           130.3 km                                             167.7 km
SIAS                                                       170+ bridges crossing
                                                            over state and local
                                                                                                                 146 flyovers

                                                            roads, rivers and
                                                            railways

                               A21 Piacenza - Brescia                                  A5 Quincinetto-Aosta

                                                        •   111.6 km                                             59.5 km
                                                        •   7 stations                                           6 tunnels
                                                        •   142 bridges and flyovers                             51 bridges and
                                                        •   2 interconnections with                               flyovers, crossing
                                                            main motorways (A1, A4)                               one main river
22   ASTM GROUP PRESENTATION

MOTORWAY CONCESSIONS

THE MOTORWAY
NETWORK IN                        113.2 km                       130.9 km
                                  67 tunnels                     49 tunnels
                                  90 viaducts                    101 underpasses

ITALY                             Outdoor paving completely
                                   made of sound-absorbing
                                                               

                                                               
                                                                   208 viaducts,
                                                                   81 flyovers
                                                                   42 bridges
                                   drainage material

SIAS

                                  154.9 km                       182.0 km
                                  29 tunnels                     18 tunnels
                                  160 flyovers                   99 flyovers
                                                                  Characterized by
                                                                   complex elevation
                                                                   profile

                                  55 km
                                  35 km under construction
                                  3 tunnels
                                  24 flyovers
                                  10 viaducts
23   ASTM GROUP PRESENTATION

MOTORWAY CONCESSIONS

THE MOTORWAY
NETWORK IN
ITALY
                                A32 Torino-Bardonecchia
                                  T4 Traforo del Frejus                                   A58 Tangenziale Est Esterna di Milano

SIAS                                                         
                                                             
                                                                 94.0 km
                                                                 9 tunnels
                                                                                                                                  
                                                                                                                                  
                                                                                                                                      32.0 km
                                                                                                                                      Effective rationalization
                                                                45 viaducts                                                          of commuter traffic
                                                                                                                                      enhancing Great Milan’s
                                                                                                                                      environmentalquality

                               A4-A5 Tangenziale di Torino                                  T2 traforo del Gran San Bernardo

                                                                155.8 km
                                                                                                                                     12.8 km
                                                                2 tunnels, 3 viaducts
                                                                13 bridges, 1 overpass
24   ASTM GROUP PRESENTATION

                                The Group has implemented an integrated monitoring process of its
                                 infrastructures status, diagnostic and maintenance planning in order to
                                 guarantee the safety, operation, stability and durability of its
MOTORWAY CONCESSIONS             highways

INDUSTRIAL DNA                  The Group has defined an extensive project dealing with the definition
FOCUSED ON                       of benchmark industrial standards for the infrastructure safety
                                 through the combination of advanced techniques of civil engineering,
MANTEINANCE &                    mathematical models and specific algorithms
CAPEX
SIAS
25   ASTM GROUP PRESENTATION

MOTORWAY CONCESSIONS

INDUSTRIAL DNA                 A strong commitment to:
FOCUSED ON                     • continuous enhancement of safety
MANTEINANCE &                     and service quality levels
CAPEX                          • Italian toll road network
                                  development and improvement
SIAS

                               Last 10 years:
                                € 1.9 bn manteinance
                                € 4.6 bn safety and development
                                 capex
26   ASTM GROUP PRESENTATION

MOTORWAY CONCESSIONS

THE MOTORWAY
NETWORK IN
BRAZIL
ECORODOVIAS

Via SIAS and jointly with CR
Almeida, the Group controls
EcoRodovias Infraestructura
e Logistica SA, the second
biggest motorway operator in
Brazil, listed on the Brazilian
stock market
27   ASTM GROUP PRESENTATION
                                          KEY FIGURES 2018 ECORODOVIAS Group

MOTORWAY CONCESSIONS

THE MOTORWAY                   $R 2,6 billion      $R 1,7 billion       $R 393 million
                               Revenues            EBITDA               Net income
NETWORK IN
BRAZIL
ECORODOVIAS
                               3.742               292 million          $R 4,8 billion
                               Employees           Vehicles passed      Net financial
                                                   through              position
28   ASTM GROUP PRESENTATION

MOTORWAY CONCESSIONS                    IGLI                                                Primav Construções
                                        ASTM Group   OS: 50.0%               OS: 50.0%        e Comércio S.A.

ECORODOVIAS
                                                     PS: 100%                PS: -
                                                     Total: 69.1%            Total: 30.9%

STRUCTURE
                                               Primav Infraestrutura S.A.                                          Free Float

                                                        63.99%                                              31.02%

                                      4.99%

                                                                     100%

                               100%   100%       100%         100%          100%     100%       100%        100%        100%    100%   100%
29   ASTM GROUP PRESENTATION

                                1997   1998   1999   2000   2001   2002   2003   2004   2005   2006    2007     2008    2009     2010      2011    2012     2013     2014    2015    2016    2017    2018

MOTORWAY CONCESSIONS
                                                                                                                                                                                             2.382

ECORODOVIAS                                                                                                                                                                          2.133

GROWTH
                                                                                                                                                                             1.991

                                                                                          Ecopátio Cubatão                                                           1.782
                                                                                          (LogisticsAsset)
                                                                                                                                                            1.595
                                                                                                                                                   1.468
                                                                                                                                           1.352
                                                                                                                                 1.203

EcoRodovias is one of the                                                                                               977
main players in the                                                                                             827

infrastructure and                                                                      529
                                                                                                572
                                                                                                        643            IPO and entryinto
                                                                                                                        BM&Fbovespa’s                                                    CAGR
                                                                                                                                                                                                     19.6%
concessions sector in Brazil,                                             349
                                                                                 445                                    Novo Mercado                                                     98-17

having added 10 assets to                     146
                                                     194    231    262
                                                                                                              Toll Road Assets           Logistics Assets           Operational Net Revenues(1)(2) (R$ mn)
                                        79
its portfolio in the last 12
                                       1998   1999   2000   2001   2002   2003   2004   2005   2006    2007    2008    2009      2010     2011     2012     2013     2014    2015    2016    2017
years.
30   ASTM GROUP PRESENTATION

MOTORWAY CONCESSIONS

THE MOTORWAY
NETWORK IN
BRAZIL
ECORODOVIAS

EcoRodovias portfolio
includes 10 highway
concessions with total of
2,649 km and one port asset
(EcoPorto) in eight different
states of Brazil, located in the
main trade corridors in the
South and Southeast regions.

                                     2,649 km       10 highway    EcoPorto located in
                                   of roads under   concessions    Port of Santos, the
                                     concession                     largest in LatAm
31   ASTM GROUP PRESENTATION

                               JOINTLY CONTROLLED ENTITIES
                               LICENSEE                 SECTION                                     SHARE
MOTORWAY CONCESSIONS
                                                        Rio de Janeiro
                               ECOPONTE                                                              23.0

THE MOTORWAY
                                                        Noteroi-State of Rio de Janeiro

                               ECOVIA CAMINHO DO MAR    Curitiba-Porto Paranagua                     137.0

NETWORK IN                     ECOCATARATAS             Paranà - «Tripolborder»                      387.0

BRAZIL
                               ECO101                   Macuri/Ba - Rio de Janeiro border            476.0

                               ECOVIAS DOS IMIGRANTES   San Paolo-Porto Santos                       177.0

                               ECOSUL                   Pelotas - Porto Alegre - Porto Rio Grande    457.0

ECORODOVIAS                    ECOPISTAS                San Paolo - Vale do Rio Paraiba              144.0

                               ECO135                   Montes Claros (Minas Gerais)                 364.0

                               ECO050                   Cristalina (Goias) - Delta (Minas Gerais)    437.0

                               RODOANEL NORTE           San Paolo Nortern Ring Road                  48.0
ASTM GROUP PRESENTATION

EPC
CONTRACTOR

ITINERA
HALMAR
INTERNATIONAL
33   ASTM GROUP PRESENTATION

                               Itinera is one of the key players in the construction of large
                               infrastructural works and civil and industrial buildings.
EPC CONTRACTOR
                               Itinera operates both as contractor and promoter of new initiatives on
ITINERA                        greenfield Concessions

                               With over 5.000 employees and € 5.0 bn backlog, Itinera operates
In the EPC (Engineering,       worldwide, in Europe, South Africa, the Middle East, Latin America,
Procurement and                and the United States, where the company is present through its
Construction) sector, the      subsidiary, Halmar International LLC.
Group operates through
Itinera, one of the leading
Italian companies in this
business segment in terms of
size, revenues and orders
34   ASTM GROUP PRESENTATION

                               We work worldwide in the construction of large, complex civil
EPC CONTRACTOR                 infrastructure, as subways, railways, aereoports, motorways, in order to
                               improve people life in the metropolis of the most important continents
ITINERA                        and even in the large African areas.

                               Itinera provides its global customers with high-quality, innovative
Sustainable behaviour as       solutions and is a leader in the field of infrastructure 4.0 projects.
a key factor for the
                               We constantly work to boost our performance and to make our
success in the global
                               sustainable behaviour a key factor for the success in the global market.
market
35   ASTM GROUP PRESENTATION

EPC CONTRACTOR

BUSINESS
SEGMENTS
ITINERA

ROADS AND INFRASTRUCTURES

RAILWAYS AND METROS               ROADS AND            RAILWAYS AND          HOSPITALS
                               INFRASTRUCTURES            METROS
HOSPITALS

BUILDINGS

AIRPORTS

                                           BUILDINGS              AIRPORTS
36   ASTM GROUP PRESENTATION

EPC CONTRACTOR

THE
INTERNATIONAL
EXPANSION
ITINERA
                                                                                           Stockholm
                                                                                             (Sweden)
                                                        Copenhaghen
                                                          (Denmark)

                                                                                          Innsbruck
                                                                                            (Austria)

                                 New York (USA)                                               Bucarest
                               HALMAR International               Tortona                      (Romania)
                                                                       (Italiy)
                                                                                                                      Kuwait City
                                                                                                                        (Kuwait)
                                                                                            Riyad
                                                                                         (Saudi Arabia)                       Dubai (UAE)

                                                                                                    Abu Dhabi               Muscat
                                                                                                          (UAE)              (Oman)

                                                                                                            Nairobi
                                                                Luanda                                      (Kenya)
                                                                (Angola)
                                           San Paolo
                                             (Brazil)
                                                                                                  Gaborone
                                                                                                   (Botswana)
                                                                 Johannesburg
                                                                      (South Africa)

                                              Headquarter                         Itinera branches and subsidiaries
37   ASTM GROUP PRESENTATION

EPC CONTRACTOR
                               ~ € 630 million
KEY FIGURES                    Revenues 2018

ITINERA
                                                               ~ € 5 billion
                                                               Backlog

                               5,600
                               Direct and indirect employees

                                                               100+ km
                                                               Tunnels built

                               1,000+ Km
                               Roads and railways built
38   ASTM GROUP PRESENTATION

                                                                                             35 %
EPC CONTRACTOR                                                                               ITALY

BACKLOG
ITINERA
                                                      ABROAD                         ITALY

                                                                                              65 %
                                                                                             ABROAD

     ~ € 5 billion

 65 % abroad                   Itinera Geographical Area Backlog as at 31/12/ 2018
39   ASTM GROUP PRESENTATION     Project:    REEM MALL (Abu Dhabi - UAE)
                                 Client:     Al Farwaniya Property
                                 JV:         ITINERA (50% leader) - Ghantoot Transport & General Cont.
                                             LLC (50%)
EPC CONTRACTOR

MAIN WORKS
IN PROGRESS                    Description                                  Programme dates

                               Total surface of 260,000 sqm. with floor
ITINERA                        space for 600,000 sqm. The commercial        Contract award date        19 Sep. 2017
                               mall foreseen more than 400 shopping         Commencement date          08 Jan. 2018
                               slots with a total parking area of 180,000
                               sqm. (~6,000 vehicles)                       Contract completion date   24 Aug. 2020

                                                                            Contract duration             960 days

                                                                                           Total contract value
                                                                                           € 503 million
40   ASTM GROUP PRESENTATION     Project: STORSTRØMSBROEN BRIDGE (Denmark - Europe)
                                 Client: Vejdirektoratet
                                 JV:      ITINERA (98.8% leader) - Società Italiana per Condotte d’Acqua
                                          SpA (0.01%) - GLF Grandi Lavori Fincosit SpA (0.01%)
EPC CONTRACTOR

MAIN WORKS
IN PROGRESS                    Description

                               Design       and       construction    of     the
                                                                                   Programme dates

ITINERA                        Storstrømsbroen Bridge between Masnedo
                               and Falster. The structure is about 6.5 km
                                                                                   Contract award date        26 Feb. 2018

                                                                                   Commencement date          26 Feb. 2018
                               long, including the main deck of about 3.8 km
                               and two access ramps. The 44 spans of access        Contract completion date   19 Sep. 2022
                               viaducts have length of 80 m, while the two
                               central cable-stayed spans will be 160 m            Contract duration            1,666 days
                               long. The width is 24 m for two lanes and two
                               tracks for the transit of high-speed trains and a
                               bicycle lane. The expected traffic is about 8
                               thousand cars a day

                                                                                                  Total contract value
                                                                                                  € 276 million
41   ASTM GROUP PRESENTATION     Project: KØGE HOSPITAL (Denmark - Europe)
                                 Client: Region Sjaelland
                                 JV:      ITINERA (51% leader) - C.M.B. Società Coop. Muratori e
                                          Braccianti di Carpi (49%)
EPC CONTRACTOR

MAIN WORKS
IN PROGRESS                    Description                                 Programme dates

                               The contract is of the Early Contract
ITINERA                        Involvement (ECI) type. The project         Contract award date        16 Apr. 2018
                               provides     for   the    expansion   and
                                                                           Contract completion date   16 Dec. 2024
                               reconstruction of the current hospital
                               structure, with the aim of moving from an   Contract duration            2,436 days
                               extension of about 64 thousand sqm. and
                               296 beds to a total extension of 185
                               thousand sqm. and 789 beds.

                                                                                          Total contract value
                                                                                          € 295 million
42   ASTM GROUP PRESENTATION     Project: ODENSE HOSPITAL (Denmark - Europe)
                                 Client: NYT Odense Universitethospital (NYT OUH)
                                 JV:      C.M.B. Società Coop. Muratori e Braccianti di Carpi (51% leader) -
                                          ITINERA (49%)
EPC CONTRACTOR

MAIN WORKS
IN PROGRESS                    Description                                   Programme dates

                               The contract is of the Early Contract
ITINERA                        Involvement (ECI) type for the construction
                               of the 2 lots of the new Odense hospital,
                                                                             Contract award date        06 Feb. 2018

                               including    the   construction   of    the   Contract completion date   11 Nov. 2022
                               acceptance departments covering an area
                               of approximately 60 thousand sqm. and of      Contract duration            1,739 days
                               the     departments     and     outpatients
                               departments with a surface of about 100
                               thousand sqm.

                                                                                            Total contract value
                                                                                            € 381 million
43   ASTM GROUP PRESENTATION     Project: ALTA VELOCITÀ NAPOLI - BARI (Italy - Europe)
                                 Client: Italferr SpA
                                 JV:      ITINERA (33%) - Ghella SpA (33%) - Pizzarotti SpA (34% leader)
EPC CONTRACTOR

MAIN WORKS
IN PROGRESS                    Description                                       Programme dates

ITINERA                        Executive design and execution of works for
                               the construction of the Naples - Bari railway
                                                                                 Contract award date

                                                                                 Commencement date
                                                                                                             22 Dec. 2017

                                                                                                             16 Jan. 2018
                               line, Cancello - Frasso Telesino section, for a
                               total length of 16.5 km, by passing the line
                                                                                 Contract duration           08 Apr. 2023
                               Rome - Naples via Cassino line, for a length
                               of about 2 km                                     Contract completion date      1,672 days

                                                                                                Total contract value
                                                                                                € 314 million
44   ASTM GROUP PRESENTATION

                               Itinera operates in the USA market trought Halmar International, one of
                               the leading construction companies operating in the New York City area.
EPC CONTRACTOR

US MARKET:                     This operation enables the Group to develop its activities in the US, both
                               as an EPC Contractor (Engineering, Procurement & Construction) and
                               through the development of existing Private Public Partnership (PPP)
HALMAR                         infrastructure programmes, through the know-how and qualifications
INTERNATIONAL                  gained by the Group in Italy and around the world in the design,
                               implementation and management of highly complex projects.

The US market offers
considerable potential,
represented by complex
works with significant added
value, where experience,
skills and technological
innovation are seen as key
factors in success and
competitiveness.
45   ASTM GROUP PRESENTATION

EPC CONTRACTOR

US MARKET:
HALMAR
INTERNATIONAL

Leader in the realisation of
Design-Build projects.

One of the top 5
construction companies in
the New York City area.

                               Airports         Subways   Railways   Motorways     Bridges

                                          ~ $1 bn                    +50 years
                                          Backlog                    of activity
46   ASTM GROUP PRESENTATION

EPC CONTRACTOR

US MARKET:                        $20                 20%         54 YEARS           1st RANKED
                                BILLION
HALMAR
                                                     INDUSTRY
                                                                    OF PROVEN        LOCALLY OWNED
                               ANNUAL LOCAL           LEADING
                                                                  PERFORMANCE        TRANSPORTATION
                                                   CAPTURE RATE
INTERNATIONAL
                                 MARKET                                                CONTRACTOR

                                  Targets                            Main Clients
                                 Develop strategic                 New York Department of
                                  activities in the USA              Transportation
                                  (EPC, PPP)                        New York City Transportation
                                                                    Washington Metropolitan Area
                                 Develop special                    Transit Authority
                                  competences on steel              Metro North Rail
                                  bridges and deep                  New York State Thruway Authority
                                  foundations                       Army Corporation
                                                                    Port Authority New York - New Jersey
                                 Pursue high margins               Long Island Rail Road
                                  thanks to major national          New Jersey Transit
                                  projects: tunnels, rails and      New Jersey Transport Authority
                                  bridges                           New Jersey Department
ASTM GROUP PRESENTATION

EPC
CONTRACTOR

EUROIMPIANTI
48   ASTM GROUP PRESENTATION

                               Euroimpianti is the company that manages installation projects
TECHNOLOGY                     both in captive and extra-captive markets.

EUROIMPIANTI                   Main activities are value and cost engineering, procurement
                               for supply and subcontracts, construction of installations.
49   ASTM GROUP PRESENTATION
                               Installations for    Design of installations in the area of civil,
                               external clients      commercial, industrial, energy efficiency, hospital
                               (extra-captive)       installations, also in collaboration with Itinera
TECHNOLOGY
                                                    Design, set up and global service of technological
EUROIMPIANTI                   Global service
                               and installations
                                                     installations (electrical, thermal and mechanical
                                                     and SCADA – Supervisory Control And Data
                               (captive)             Acquisition), to serve infrastructures

                               Electrical           Design and production of
                               cabinets,             electrical cabinets
                               services and         Development and implementation of new
                               public lighting       technologies in the field of public lighting
50   ASTM GROUP PRESENTATION
                                                KEY FIGURES 2018 EUROIMPIANTI

EPC CONTRACTOR

EUROIMPIANTI
                                €34M Revenues            35% captive        121 Employees
                                €71M Backlog                  highways
                                                          65% other
                                                               business

                               Operates in Italy,         Created in 1982    ~10 certifications
                               France and Romania          and acquired by         including
                                                           SIAS in 2003            ESCo (Energy
                                                                                   Service
                                                                                   Company)
51   ASTM GROUP PRESENTATION
                                 EUROIMPIANTI is in the preferred supply list of the major Italian players

EPC CONTRACTOR
                                                                                                Recurring clients

EUROIMPIANTI
                               Public                                  Private
ASTM GROUP PRESENTATION

ENGINEERING

SINA
53   ASTM GROUP PRESENTATION

                               SINA is the Group's engineering company with specific skills,
                               guaranteeing through innovative technological solutions, the most
ENGINEERING                    efficient life cycle for infrastructures and the best possible service to
                               customers.
SINA
                               SINA is dedicated to the research, promotion, design and commissioning
                               of new infrastructures in the major road network sector.

Design and planning are        The company is specialized in verification operations involving safety
key factors for operators in   and surveillance systems for tunnels.
the transport and mobility
sector.                        SINA is also engaged in checking and inspecting infrastructures, and in
                               environmental monitoring activities.
ASTM Group carries out
these activities through its   SINA contributes to the management and mitigation of construction
subsidiary SINA, which         risks, providing clear costs and time-scales.
boasts an impressive
international track record.
54   ASTM GROUP PRESENTATION
                                              KEY FIGURES 2018 SINA Group

ENGINEERING

SINA                           € 37 million        € 3 million                 € 55 million
                               Revenues            EBITDA                      Backlog

                               236                    Among the top 5 engineering companies
                                                       in Italy
                               Employees
                                                      Best in class in infrastructure monitoring
                                                       and preservation
55   ASTM GROUP PRESENTATION

ENGINEERING                    Roads / Highways       Bridges / Tunnels          Railways

KEY ACTIVITIES
SINA

                                    Investment Planning, Design, and Work Supervision

                                    Infrastructure Monitoring and Preservation

                                    Health Safety & Environment
                                    Technical Support in Tender and Contract Management
                                    Research & Development

                                          SINA chair of the World Road Association
                                          for programs and policies on road safety

                                         SINA member of the European ITS Platform
                                              with the role of Project Manager
ASTM GROUP PRESENTATION

TECHNOLOGY

SINELEC
57   ASTM GROUP PRESENTATION

                               SINELEC is the Group’s Technology company leader in the
TECHNOLOGY                     design, production and maintenance of technology solutions
                               for transportation infrastructure management (advanced
                               systems for safety, mobility information, toll collection and
SINELEC                        telecommunications).
58   ASTM GROUP PRESENTATION

                               Sinelec is a leader in the research, design, installation and maintenance of
                               advanced systems for managing data regarding mobility and
                               transport, collected at the company's Data Center and analysed using
TECHNOLOGY                     Advanced Analytics models.

                               The company's main activities are connected to ITS (Intelligence Transport
                               Systems), to cutting-edge toll collection systems (in line with European
SINELEC                        directives) and to telematic systems for monitoring traffic and increasing
                               safety, with a particular focus on the development and implementation of
                               new technologies dedicated to vehicle safety and assisted driving.

                               The company has its own WAN (Wide Area Network)
                               telecommunications network, and creates the infrastructures, ICT
                               services and information systems for Group companies.
59   ASTM GROUP PRESENTATION

TECHNOLOGY
                                 End-to-end                                +20               11              €2B tolls/yr

ITS KEY
                                                      800 toll
                                 Technology                            developers         Operational     processed (500M
                                                       gates
                                  Solution                               in R&D            Control           vehicles/yr)

COMPETENCES
                                  Provider                                                 Centers

                                Infrastructure
                                                     Electronic         Traffic            Safety             Traveler
                                 Maintenance
SINELEC
                                                       tolling        Management         Management         Information
                               and monitoring

                                Infrastructure    Gate              Operational       Automated        Pre-trip travel
                                 monitoring         automation         control center     Incident          information
                                 (sensor,                                                 Detection         (real-time flow
                                 cameras)          Field             Traffic                              condition,..)
                                                    equipment          metering          Video
                                Winter                                                   surveillance     En-route
                                 operations        Vehicles          Data                                 driver
                                 support            identification     collection        Tunnel safety     information
                                                    and                (sensors,          systems
                                Weather data       classification     cameras,                            Smart parking
                                 collection                            radar)            Weight in
                                 processing        Enforcement                           Motion           Traveler
                                 and                solutions         Data                                 information
                                                                       integration       SOS               services
                                 dissemination
                                                   Operational                           Coverage
                                                    back-office
                                                    systems                              Variable
                                                                                          Messaging
                                                                                          systems

                                                                                         ISO–frequency
                                                                                          radio
                                                                                          coverage
60   ASTM GROUP PRESENTATION

                               Hybrid Cloud        19 managed IT             +25 IT &             3,000 managed         2,000 Km
                               enabled main        infrastructures,         Application            workstations,         Optical
TECHNOLOGY                      Data Center         +50 firewalls            specialist            +10,000 help           fiber
                                                                                                    desk calls/yr        network

ICT KEY
COMPETENCES

SINELEC
                                  Networking                          Planning, development and         Planning, development
                                  Data Center                         deployment of Group-wide          and deployment of Core
                                  Hybrid Cloud infrastructures        Information systems: ERP,         Business IT platforms
                                  Value Added IT Services             Business Analytics and
                                  Cybersecurity                       governance Systems

                                                                                                        ISO/IEC 27001:2015
                                                                                                        Certification
61   ASTM GROUP PRESENTATION

TECHNOLOGY

SUPPORT
COMPANY
DIGITALIZATION                 Harmonize and Innovate        Improve Governance and     Optimize performance and
JOURNEY                         end-user experience             increase efficiency     increase competitiveness

                                                                DIGITAL SOLUTIONS
                                                                                             DIGITAL SOLUTION
                                      DIGITAL CORE              FOR MANAGEMENT
                                                                                               FOR BUSINESS
                                        SERVICES                  AND SUPPORT

SINELEC
                                                                                                PROCESSES
                                                                    PROCESSES

                                Platform as-a-service       Enterprise Risk          Integrated platform for
                                 (Cloud)                      Management                project Management – BIM
                                                                                        Ready
                                Unified Communication &     Corporate Performance
                                 Collaboration                Monitoring               IOT solution for
                                                                                        Infrastructure and vehicles
                                Wired and wireless          Enterprise Resource       monitoring
                                 connection for mobility      Planning (ERP)
                                 workplace                                             AI for continuous
                                                             Centralized HR            operations improvements
                                Cyber-security (Identity
                                 Management, Data Loss       E-Procurement            V2X communication
                                 Prevention, …)                                         solution
62   ASTM GROUP PRESENTATION

TECHNOLOGY
                               ~ € 56 million
KEY FIGURES                    Revenues

                                                     11
SINELEC                                              Traffic control and monitoring
                                                     stations

                               ~ 300
                               Direct employees

                                                     ~ € 2 billion
                                                     Total amount of tolls
                                                     processed by Sinelec

                               2,000 km
                               Optic fiber network
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