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Fiera Milano

Investor Presentation • Jul 27, 2018

4073_cp_2018-07-27_8fd82a97-4a03-4768-bdbe-ab915c45e047.pdf

Investor Presentation

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FIERA MILANO GROUP 1st Half 2018 Consolidated ResultsCONFERENCE CALL - 27 JULY 2018

Highlights

Business outlook

Good results in the first semester due to a favorable exhibition calendar and a strong commercial performance combined with tighter cost controls

  • • Net exhibition space occupied in Italy: 995,110 square metres (15% by directly organised exhibitions), +15% year-on-year
  • •Consolidated revenues: Euro 157.7 million, +18% year-on-year
  • •Consolidated EBITDA: Euro 46.1 million (Euro 11.9 million in 1H17)
  • •Consolidated EBIT: Euro 43.1 million (Euro 8.4 million in 1H17)
  • •Consolidated profit: Euro 31.7 million (Euro 5.6 million in 1H17)
  • •Net cash: Euro 26.3 million (Net debt of Euro 0.8 million at 31 December 2017)

Approval of the plan for the merger by incorporation of Ipack-Ima S.p.A. into the Parent Company as part of the group corporate restructuring process aimed at optimising corporate governance

Highlights Financial ResultsBusiness outlook

ITALIAN EXHIBITIONS

Exhibition space rented out ('000 net sq.m.)

  • Overall improvement in exhibitions compared to their previous editions
  • Annual exhibitions: further success for the Salone del Mobile
  • Biennial exhibitions: presence of Mostra Convegno Expocomfort, the leading international exhibition for civil and industrial plant but Made Expo and Tuttofood were absent
  • Multi-year exhibitions: extremely positive performance of The Innovation Alliance that united for the first time five exhibitions with a supply chain logic, including Ipack-Ima (processing and packaging technology), Meat-Tech (meat processing and packaging), Plast (plastic and rubber industry), Print4All (commercial and industrial printing) and Intralogistica Italia (industrial handling and warehousing)

ITALIAN EXHIBITIONS

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* The figures for the first half 2017 reflect the application of the ne wstandard IFRS 15 from 1 January 2018.

  • • The 1H18 increase in revenues was mainly attributable to the favourable exhibition calendar in the semester and thegood performance of the exhibitions
  • • EBITDA reflected the increase in revenues and the positive effect of cost reductions

Gross of adjustments for inter-segment transactions

FOREIGN EXHIBITIONS

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  • • Net exhibition space occupied abroad totalled 144,120 square metres vs 128,160 square metres in 1H2017
  • • The lower revenues were primarily due to the absence of the biennial exhibition Reatech in Brazil
  • • The growth in EBITDA primarily reflected the restructuring of the South African subsidiary, as well as a payment received following the positive outcome of a legal dispute in Brazil and higher results from the Chinese joint venture

7

Gross of adjustments for inter-segment transactions

STAND-FITTING SERVICES

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• The trend in revenues and margins reflected higher volumes in the stand-fitting business mainly linked to good sales penetration as a consequence of the positive exhibition calendar in the semester

Gross of adjustments for inter-segment transactions

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• The increase in revenues and EBITDA was mainly due to higher billboard advertising, sponsorship and digital services

CONGRESSES

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* The figures for the first half 2017 reflect the application of the new standard IFRS 15 from 1 January 2018.

• There was a slight decrease in revenues following a different presence of international congresses and conventions

10

•The EBITDA reflected the effects of cost savings

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The improvement in the net financial position was due to the positive cash flow from operations in the semester, which was, in part, offset by changes in net working capital

Highlights Financial Results

Business outlook

  • • The results of the first semester, and in particular of the second quarter, were ahead of expectations. It should be noted that business levels in the second semester will be lower than in the first semester due to the normal suspension of exhibition activity in the summer months that characterises this sector and also to the absence of biennial exhibitions in the fourth quarter of the year
  • • Net exhibition space rented out in Italy in the second semester is forecast to be 490,000 square metres compared to 995,000 square metres in the first semester
  • • The results of the first semester have led to an upgrade of the forecast for full-year EBITDA: this is now expected to be in the range of Euro 24-26 million, compared to the previously communicated target of Euro 17 million

INCOME STATEMENT

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* Starting with the Consolidated Financial Statements at 31 December 2017, operating profitability is calculated as EBITDA; therefore the figures at 30 June 2017, which showed the gross operating profit, have been restated to reflect this reclassification. The figures for 2017 also reflect the application of the new standard IFRS 15 from 1 January 2018.

15

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8

Data and information herewith set forth are extracted from the press release relating to Fiera Milano Consolidated Results to 30 June 2018 filed with the Italian authorities regulating exchanges and securities and disseminated concomitantly with this presentation.

This document has been prepared by Fiera Milano SpA solely for information purposes and for use in presentations of the Group. The information contained herein has not been independently verified. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. None of the company, its affiliates, or its representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection with this document.

This document includes forward-looking statements. These forward-looking statements express current expectations and projections about future events, involve predictions and are subject to a number of factors that may influence the accuracy of the statements and the projections upon which the statements are based. Prospective investors are cautioned not to place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties and other factors which are, in many cases, beyond our control. In light of these risks, uncertainties, and assumptions, the forward-looking events discussed in this document might not occur and no assurance can be given that the anticipated results will be achieved. Actual events or results may differ materially as a results of risks and uncertainties facing Fiera Milano and its subsidiaries. Such risks and uncertainties include, but are not limited to increased competition and regulatory, legislative and judicial developments that could cause actual results to vary materially from future results indicated, expressed or implied in such forward-looking statements. Moreover, any statements regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future.

This document does not constitute an offer or invitation to purchase or subscribe for any shares and no part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever.

The Manager responsible for preparing the company's financial reports Marco Pacini declares, pursuant to paragraph 2 of Article 154-bis of the Consolidated Law on Finance, that the accounting information contained in this document corresponds to the document results, books and accounting records.

17

For further information, please contact:

Gianna La Rana

Investor Relations Director

Camilla Cusi

Investor RelationsTel +39 02.4997.7816/7911email: [email protected]

Fiera Milano SpA Strada Statale del Sempione 28 20017 Rho (Milano) - Italia www.fieramilano.it

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