Sabaf

AGM Information • May 5, 2016

Summary report of the voting on the items on the Shareholders' meeting agenda of 28 April 2016

Ordinary part

1) Presentation of the 2015 Annual Report

Holders of voting rights were not required to vote on this item.

2) Financial statements at 31 December 2015

2.1 Approval of the financial statements for the year ending 31 December 2015; the Directors' Report on Operations; the Independent Auditor's Report and the Board of Statutory Auditors' Report; related and subsequent resolutions

Shares represented at the shareholders' meeting	6,553,411 equivalent to 56.82% of the share capital
Shares without voting right	0
Shares for which a vote was cast	6,553,411 equivalent to 56.82% of the share capital
Shares in favour	6,553,411 equivalent to 56.82% of the share capital
Shares against	0
Shares abstaining	0

2.2 Decisions in respect of the allocation of 2015 earnings

Shares represented at the shareholders' meeting	6,553,411 equivalent to 56.82% of the share capital
Shares without voting right	0
Shares for which a vote was cast	6,553,411 equivalent to 56.82% of the share capital
Shares in favour	6,553,411 equivalent to 56.82% of the share capital
Shares against	0
Shares abstaining	0

3) Resolution on the first section of the Report on Remuneration pursuant to article 123-ter of Legislative Decree 58/1998

Shares represented at the shareholders' meeting	6,553,411 equivalent to 56.82% of the share capital
Shares without voting right	0
Shares for which a vote was cast	6,553,411 equivalent to 56.82% of the share capital
Shares in favour	6,442,380 equivalent to 55.86% of the share capital
Shares against	111,031 equivalent to 0.96% of the share capital
Shares abstaining	0

4) Authorisation to buy and sell treasury shares, subject to revocation, for the portion not executed following the resolution of 5 May 2015; related and subsequent resolutions

Shares represented at the shareholders' meeting	6,553,411 equivalent to 56.82% of the share capital
Shares without voting right	0
Shares for which a vote was cast	6,553,411 equivalent to 56.82% of the share capital
Shares in favour	6,553,411 equivalent to 56.82% of the share capital
Shares against	0
Shares abstaining	0

5) New decision to increase the number of members of the Board of Directors from currently 11 members to 12 members. Appointment of one director and decision on the compensation; related and subsequent resolutions

Shares represented at the shareholders' meeting	6,553,411 equivalent to 56.82% of the share capital
Shares without voting right	0
Shares for which a vote was cast	6,553,411 equivalent to 56.82% of the share capital
Shares in favour	6,548,545 equivalent to 56.78% of the share capital
Shares against	4,866 equivalent to 0.04% of the share capital
Shares abstaining	0

Extraordinary part

1) Proposal to modify the Articles of Association by introduction of the majority voting right within the meaning of article 127-quinquies of Legislative Decree [D.Lgs.] 58/1998. Introduction of new articles 5-bis, 5-ter and 5-quater of the Articles of Association; related and subsequent resolutions

Shares represented at the shareholders' meeting	6,553,411 equivalent to 56.82% of the share capital
Shares without voting right	0
Shares for which a vote was cast	6,553,411 equivalent to 56.82% of the share capital
Shares in favour	5,937,095 equivalent to 51.48% of the share capital
Shares against	616,316 equivalent to 5.34% of the share capital
Shares abstaining	0

2) Proposal to modify article 12 of the Articles of Association; related and subsequent resolutions

Shares represented at the shareholders' meeting	6,553,411 equivalent to 56.82% of the share capital
Shares without voting right	0
Shares for which a vote was cast	6,553,411 equivalent to 56.82% of the share capital
Shares in favour	6,553,411 equivalent to 56.82% of the share capital
Shares against	0
Shares abstaining	0