Landi Renzo

Earnings Release • Mar 30, 2018

LANDI RENZO S.P.A.

Financial Statements

Foreign non UE subsidiaries on December, 31 2017 –

Art. 15 Consob Regulation on Markets

(Translation from Italian original which remains the definitive version)

Non UE foreign subsidiaries Financial Statements on December, 31 2017 ex art. 15 Consob Regulation on Markets

1.	Introduction	pg.3
2.	Beijing Landi Renzo Autogas System Co. Ltd Statement of financial position Income Statement	pg.4 pg.4 pg.5
3.	LR Industria e comercio Ltda Statement of financial position Income Statement	pg.6 pg.6 pg.7

1. Introduction

In accordance with the provisions of art. 15, paragraph 1, lett. a) of CONSOB Market Regulation (adopted by resolution no. 20249 of December 28, 2017), Landi Renzo S.p.A. provides to public by this document, the financial statements of its subsidiaries that are established and governed by the laws of non-EU countries that have been identified as relevant in terms of the criteria referred to in paragraph 2 of the same art. 15 of the Consob Market Regulations.

In particular, are reported below the statements of financial position and income statements of those companies as well as stated for the purposes of preparing the consolidated financial statements of Landi Renzo Group on December 31, 2017.

2. Beijing Landi Renzo Autogas System Co. Ltd

Registered office: Building No.5, Jing Yuan Bei Jie No.2, Beijing Economic-Technological Development Area, Beijing P.R.China Share Capital: 20.854.030 RMB Currency: Chinese Renminbi Group ownership percentage: 100%

Beijing Landi Renzo Autogas System Co. Ltd
ASSETS	31/12/2017	31/12/2016
Non-current assets
Property, plant and equipment	494,385	11,407,428
Intangible assets	12,339	28,914
Total non-current assets	506,724	11,436,342
Current assets
Trade receivables	21,268,664	18,940,821
Inventories	7,148,890	7,553,928
Other receivables and current assets	928,832	1,265,824
Cash and cash equivalents	36,842,322	4,063,863
Total current assets	66,188,708	31,824,436
TOTAL ASSETS	66,695,432	43,260,778

EQUITY AND LIABILITIES	31/12/2017	31/12/2016
Net Equity
Share capital	20,854,030	20,854,030
Other reserves	14,258,162	20,231,181
Profit (loss) of the period	16,641,043	-5,973,019
TOTAL NET EQUITY	51,753,235	35,112,192
Non-current liabilities
Provisions for risks and charges	516,420	729,776
Total non-current liabilities	516,420	729,776
Current liabilities
Trade payables	7,591,208	5,434,126
Tax liabilities	5,642,349	105,554
Other current liabilities	1,192,220	1,879,130
Total current liabilities	14,425,777	7,418,810
TOTAL LIABILITIES AND EQUITY	66,695,432	43,260,778

Beijing Landi Renzo Autogas System Co. Ltd
Income Statement	31/12/2017	31/12/2016
Revenues (goods and services)	25,168,595	24,814,026
Other revenue and income	24,303,735	0
Cost of raw materials, consumables and goods and change in inventories	16,429,010	18,174,822
Costs for services and use of third party assets	4,114,372	5,763,222
Personnel expenses	4,344,930	5,066,258
Accruals, impairment losses and other operating expenses	2,797,425	588,517
Gross Operating Profit	21,786,593	-4,778,793
Amortization, depreciation and impairment losses	1,020,668	1,060,477
Net Operating Profit	20,765,925	-5,839,270
Financial income	14,030	11,568
Financial expenses	26,663	116,921
Gains (losses) on exchange rate	-291,642	-28,396
Profit (Loss) before tax	20,461,650	-5,973,019
Current and deferred taxes	3,820,607	0
Profit (loss) of the period	16,641,043	-5,973,019

4. LR Industria e comercio Ltda

Registered office: LR Industria e comercio Ltda, Rua Washington Luiz, Nº 110-Jardim América Cariacica – ES, CEP: 29140-350 Share Capital: 4.320.000 BRL Currency: Brasilian Real Group ownership percentage: 99,99%

LR Industria e Comercio Ltda
ASSETS	31/12/2017	31/12/2016
Non-current assets
Property, plant and equipment	77,719	111,058
Total non-current assets	77,719	111,058
Current assets
Trade receivables	22,891,333	17,717,637
Inventories	4,720,292	6,876,443
Other receivables and current assets	2,262,407	2,234,164
Cash and cash equivalents	1,352,491	319,471
Total current assets	31,226,523	27,147,715
TOTAL ASSETS	31,304,242	27,258,773

EQUITY AND LIABILITIES	31/12/2017	31/12/2016
Net Equity
Share capital	4,320,000	4,320,000
Other reserves	3,907,222	-3,776,332
Profit (loss) of the period	-645,250	7,683,554
TOTAL NET EQUITY	7,581,972	8,227,222
Non-current liabilities
Provisions for risks and charges	1,208,000	1,020,000
Total non-current liabilities	1,208,000	1,020,000
Current liabilities
Trade payables	19,260,186	15,717,606
Tax liabilities	2,674,966	1,839,747
Other current liabilities	579,118	454,198
Total current liabilities	22,514,270	18,011,551
TOTAL LIABILITIES AND EQUITY	31,304,242	27,258,773

LR Industria e Comercio Ltda
Income Statement	31/12/2017	31/12/2016
Revenues (goods and services)	34,581,609	41,661,902
Other revenue and income	88,580	92,076
Cost of raw materials, consumables and goods and change in inventories	26,607,387	30,660,421
Costs for services and use of third party assets	2,815,546	2,270,985
Personnel expenses	2,145,187	1,892,722
Accruals, impairment losses and other operating expenses	393,301	777,305
Gross Operating Profit	2,708,768	6,152,545
Amortization, depreciation and impairment losses	33,340	30,867
Net Operating Profit	2,675,428	6,121,678
Financial income	145,274	202,648
Financial expenses	271,007	592,319
Gains (losses) on exchange rate	-2,179,784	3,542,090
Profit (Loss) before tax	369,911	9,274,097
Current and deferred taxes	1,015,161	1,590,543
Profit (loss) of the period	-645,250	7,683,554