company presentation (short) en

VITALI GROUP Company Presentation

February 2017

INTRODUCTION

VITALI GROUP – OVERVIEW • Vitali is an Italian Development and Construction Company operating in the fields of – – – – –

Real Estate (multinational companies HQs, commercial/office developments, logistics hubs) Infrastructures (airports/aviation, motorways, railways) Special Demolitions Production (asphalts, concrete, pits etc) Engineering

• Vitali operates as a Developer, General Contractor and Investor with an holistic approach to business development – – – – – –

Deal Origination and Deal Development General Management (management of the overall development, construction and financing process) Financing (structuring of the investment/financing via company resources and int’l investment funds) Engineering, Procurement & Construction (EPC) Operation and Management (O&M) Marketing

• Vitali has specialized in the real estate market sector (deal origination, assessment of the investment, development of investment opportunities, financing, design, EPC, O&M, marketing)

VITALI GROUP – FIGURES • Vitali features an annual turnover of €100M divided as following

Production 15%

Airports/Aviation Infrastructures: 40% Infrastructure s 50%

Roads, Railways, Bridges, Tunnels: 60%

Real Estate 40%

• Vitali Group owns assets for €330M and presents solid financial track record

VITALI GROUP – BUSINESS MODEL

SERVICES

AREAS

REAL ESTATE

INFRASTRUCTURES

- Companies HQs - Industrial & commercial - Logistics hubs

- Airports (air/land-side) - Motorways - Railways

SPECIAL DEMOLITIONS - Highways, motorways - Bridges, tunnels - Facilities (resid & comm)

General Mgt

- Origination and Management of the overall development of the project

Engineering

- Engineering - Project design - Coordination and management of the construction works

Construction

- Execution of the construction works (as general contractor)

Financing

- Arranging and structuring of the financing for the Project - Equity financing via (i) company resources and/or (ii) invest. partners (infrastructure/RE funds, partner companies, private investors etc) - Debt financing via partners’ banks and/or other financial institutions

Property Mgt. - O&M; Facilities management; Marketing (sales, renting etc)

REAL ESTATE

VITALI GROUP – REAL ESTATE • Areas of Business – Industrial, Commercial, Business Centers and Companies Headquarters – Logistics Parks/Hubs

• Sample Projects – – – – – – –

“Milano Alta RE” – 60.000 sqm; major development in the city of Milan, Italy – Value: € 250 M “Innovation Campus Milan RE” – 50.000 sqm; Tech Campus/Company HQs; Milan, Italy – Value: € 150 M “Decathlon Logistics Park” – 35.000 sqm; Decathlon Logistics; Basiano, Milan, IT – Value: € 35 M “OBI & Burger King Centers” – 23.000 sqm; Commercial Buildings; San Giuliano, Milan, IT – Value: € 20 M “Leonardo Da Vinci Park” – 60.000 sqm; K-Flex/Instrumentation Labs; Roncello, MI, IT – Value: € 65 M “Campo dei Fiori MediaPark” – 60.000 sqm; under-development; Stezzano, MI, Italy – Value: € 75 M “Bonate Logistics Park” – 10.000 sqm; Heineken Logistics; Bonate Sotto, MI, Italy – Value: € 10M

• Business Model – – – – – –

Deal Origination and Due-Diligence (technical, legal and financial DDs) Development (management of the overall development project) Financing (acquisition/right of surface; equity/debt financing via company resource/funds/partners; exit) Engineering, Design, Procurement and Constriction (EPC & Architecture Design) Operation and Maintenance (O&M) / Facility Management (FM) Marketing

VITALI – REAL ESTATE SAMPLE PROJECT 1 Innovation Campus Milan – Location: Peschiera Borromeo, Milan, Italy – Value of the Project: € 150,000,000 (completed) – Project (description): (i) 50,000 Sqm of office spaces (three buildings) (ii) 50,000 Sqm of parking spaces (1,700 slots) (iii) 62,000 sqm of green AREAS – Origination of the Deal: Vitali Group – Developer and General Management: Vitali Group – Construction Company: Vitali Group – Financing:(greenfield) Gennaker Fund / STAM Europe – Design: Flores & Prats Architecture (Barcelona, Spain) – Ownership: Gennaker Fund/STAM Europe – Works: Started 2011; Completed in 2015; New development ongoing

VITALI – REAL ESTATE SAMPLE PROJECT 2 Milano Alta Real Estate Development Project – Location: Portello (Ex-Expo Area), Milan, Italy – Value of the Project: € 250,000,000 – Project (description) (i) 80,000 Sqm of commercial spaces (ii) 45,000 Sqm parking spaces in the heart of Milan – Ownership: Milano Alta Srl (Vitali Group) [50+50 years lease contract from Fiera Milano S.p.A.]

– Origination of the Deal: Vitali Group – Developer and General Management: Vitali Group – Financing: Major real-estate fund (NDA) – Status/Works: Contract signed in 2016; ongoing development process

VITALI – LOGISTICS SAMPLE PROJECTS Leonardo da Vinci Park (Roncello) – Location: Roncello (Milan, Italy) – Value of the Project: € 65,000,000 – Project (description): 56,000 Sqm logistics areas; 60,000 Sqm of parking areas – Tenants: K- Flex, Instrumentation Labs, Petra – Origination, Development & Construction: Vitali Group – Financing: (greenfield) Gennaker Fund/ STAM Europe – Status: Completed

OBI Italia & Burger King – Location: San Giuliano, Milan, Italy – Value of the Project: € 20,000,000 – Project (description): 8,000 Sqm of commercial area; 12,000 Sqm of parking areas – Tenants (long-term lease): OBI Italia & Burger King Italia – Origination, Development & Construction: Vitali Group – Financing: (greenfield) Vitali/BPB; (exit) RE Fund (NDA) – Works: Development and Construction 2016; Exit 2017

INFRASTRUCTURES

VITALI GROUP – INFRASTRUCTURES • Areas – Airports & Aviation Infrastructures – Roads, Motorways, Railways – Viaducts, Bridges, Tunnels

• Main Projects – – – – –

Development of the Highway “Interconnection Pedemontana Bre.Be.Mi” (Bergamo, Italy): € 400 M Revamping of the International Airport of Orio al Serio “Il Caravaggio” (Bergamo, Italy): € 40 M Construction of the “TEEM-A58 Highway” (Milan, Italy): € 70 M Construction of the “Expo Milan 2015 Mobility Infrastructures” (Milan, Italy): € 125 M Construction of the “Bre.Be.Mi” (Treviglio – Melzo, Italy): € 100 M

• Services – – – – –

Deal Origination and Development General Management of the Project Financing (equity finance via company resources and/or financial partners; arranging) Engineering, Procurement and Construction (EPC) Operation and Management (O&M)

VITALI – INFRASTRUCTURE SAMPLE PROJECTS • Door to Milan Expo 2015 – Location: Expo 2015 exhibition area (Milan, Italy) – Value of the Works: € 125 M – Description: Road connection from the Expo Milan 2015 Exhibition site to the main roads (Highway A4 Turin-Venice and Highway A8) – Client: Infrastrutture Lombarde S.p.A. – Contractors: Vitali Group/Eureca Consorzio Stabile, CCC Coop and CIC – Designers: Antonio Citterio, Patricia Viel and Partners

• Bergamo-Treviglio Highway Project – Location: Bergamo (Lombardy Region, Italy) – Value of the Project: € 400 M – Description: 25km Highway connecting the Bergamo area to the new Bre.Be.Mi A35 (Brescia-Milan, Italy) – Client: Autostrade Bergamasche S.p.A. (Vitali Group as shareholder and management company) – Developer and General Contractor: Vitali Group

VITALI GROUP – AIRPORTS • Vitali Group has been specializing in the aviation sector (runways and terminals) providing the following services – Deal Origination & Project Development (General Management) – Engineering, Procurement & Construction (EPC) – Operation and Maintenance (O&M)

• Main Projects in Italy – – – – – –

International Airport of Orio Al Serio "Il Caravaggio" [Client: SACBO] (Bergamo, Lombardy Region, Italy) International Airport of Milan Linate and Milan Malpensa [Client: SEA] (Milan, Lombardy Region, Italy) International Airport of Olbia “Costa Smeralda” [Client: GEASAR] (Olbia, Sardinia Region, Italy) International Airport of Rome “Fiumicino” [Client: ADR] (Rome, Lazio Region, Italy) International Airport of Venice “Marco Polo” [Client: SAVE] (Venice, Veneto Region, Italy) International Airport of Naples “Capodichino” [Client: GESAC] (Naples, Campania Region, Italy)

• Internationalization process (ongoing) – UK: Revamping of the airside infrastructures at Gatwick Airport (via “Vitali Group UK” – fully owned UK subsidiary); ongoing expansion in the UK airports’ (e.g. Heathrow, London City, Belfast) via partnership with a major UK EPC contractor – Continental and North Europe: France, Finland, Romania

VITALI – AIRPORTS’ SAMPLE PROJECTS • Int’l Airport of Orio al Serio "Caravaggio" – – – – – – –

Location: Orio al Serio (Bergamo, Italy) (12M pax/yr) Works: Revamping of the runway (3,000 m) Value of the Works: € 40,000,000 Client: SACBO General Contractor (EPC): Vitali Group Execution: 20 days; avg 900 people per day working Status: Completed (2014)

• Int’l Airport of Gatwick London – Location: London, UK – Works: Masterplanning for the airside and landside strategic re-development; ordinary and extraordinary maintenance works on airside infrastructure (runways, taxi-ways, aprons) – Value of the Works: N.D.A. – Client: Gatwick – General Contractor: Vitali Group – Status: Ongoing

www.vitalispa.it Vitali Group Via Lombardia, 2/A - 20068 Peschiera Borromeo, Milan, Italy Tel. +39 02-74281998 Fax +39 02-45490814 P.IVA 01948410160