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Earnings Release • May 13, 2016

Informazione Regolamentata n. 1771-11-2016		Data/Ora Ricezione 13 Maggio 2016 18:13:46	MIV - Segmento Professionale
Societa'	:	SPACE2
Identificativo Informazione Regolamentata	:	74374
Nome utilizzatore	:	SPACE2N05 - r
Tipologia	:	IRAG 03
Data/Ora Ricezione	:	13 Maggio 2016 18:13:46
Data/Ora Inizio Diffusione presunta	:	13 Maggio 2016 18:28:47
Oggetto	:	PR Space2
Testo del comunicato

Vedi allegato.

NOTICE OF ADJUSTMENT

In relation to the press release upon the approval of the 2016 First Quarter Report of Space2 S.p.A., published on May 11, 2016, due to a formal error in the tables attached to the press release, we report the following adjustments:

• Net Profit of Euro 0.1 million
• Equity of Euro 305.5 million
• Net cash position of Euro 305 million
• Financial income of Euro 0.4 million

The adjusted Income Statement, Balance Sheet, Statement of Cash Flow and Net Financial Position of Space2 S.p.A. at March 31, 2016 are attached to the present Notice.

In addition, the full version of the 2016 First Quarter Report is available to the public from today on the Company website at www.space2spa.com and is published on the storage mechanism eMarketStorage at .

Milan, May 13, 2016

Space2 S.p.A Società per Azioni– Capitale Sociale interamente versato Eur 30.845.000 CF ed Iscrizione al Registro delle Imprese: 09105940960 REA: MI2069001

Condensed income statement

in Euro	Note	Q1 2016	of which related parties
Revenue	9	-	-
Other revenue	9	-	-
Consumable materials	10	(7,117)	-
Personnel costs	11	-	-
Other net operating costs	12	(346,138)	(260,942)
EBIT		(353,255)	(260,942)
Financial income	13	497,570	-
Pre-tax profit		144,315	-
Income taxes	14	-	-
Net Profit		144,315	-
Basic earnings per share	15	0.006
Diluted earnings per share	15	0.005

Condensed Statement of Comprehensive Income

in Euro	Q1 2016
Net Profit	144,315
Other comprehensive income statement items not subsequently reclassified to profit and loss	-
Other comprehensive income statement items subsequently reclassified to profit and loss	-
Total Comprehensive Income	144,315

Condensed balance sheet

in Euro	Note	At March 31, 2016	of which related parties	At December 31, 2015	of which related parties
ASSETS
Current assets
Cash and cash equivalents	1	882,428	-	140,206	-
Other current financial assets	2	304,120,265	-	304,858,075	-
Trade receivables		-	-	-	-
Other receivables	3	609,005	86,667	472,304	87,608
Total current assets		305,611,698	86,667	305,470,585	87,608
Non-current assets
Other non-current financial assets	4	10,000	-	10,000	-
Total non-current assets		10,000	-	10,000	-
TOTAL ASSETS		305,621,698	-	305,480,585	-
LIABILITIES AND EQUITY
LIABILITIES
Current liabilities
Trade payables	5	67,409	-	78,827	-
Other payables	6	17,205	-	8,989	-
Total current liabilities		84,614	-	87,816	-
Share capital		30,845,000	-	30,845,000	-
Share premium reserve		277,155,000	-	277,155,000
Other reserves		(2,912,159)	-	(2,912,159)	-
Retained earnings		304,928	-	-	-
Net Profit		144,315	-	304,928	-
Equity	7	305,537,084	-	305,392,769	-
TOTAL LIABILITIES AND EQUITY		305,621,698	-	305,480,585	-

Condensed Statement of Cash Flow

in Euro	From January 1, 2016 to March 31, 2016	Period ended December 31, 2015
Operating activities
Pre-tax profit	144,315	304,928
Changes due to:
- investment income (interest and dividends received)	(497,570)	-
Adjustments reconciling pre-tax profit with net cash flows:
- Share capital increase costs	-	(2,912,159)
Changes in working capital:
- Increase in current trade and other payables	(5,451)	87,816
- Increase in current trade and other receivables	(6,638)	(472,304)
- Other changes in working capital	(128,620)	-
- Taxes paid	807	-
Net cash flow from operating activities	(493,158)	(2,991,719)
Investing activities
Savings Bonds	662,785	(184,061,448)
Escrow Bank Deposits	75,024	(120,796,627)
Interest income	497,570	-
Net cash flow from investing activities	1,235,380	(304,858,075)
Financing activities
Share capital increase	-	30,845,000
Share premium reserve	-	277,155,000
Settlement current financial assets	-	-
Other non-current financial assets	-	(10,000)
Net cash flow from financing activities	-	307,990,000
(Decrease)/increase in current cash and cash equivalents and deposits	742,222	140,206
Cash and cash equivalents at beginning of the period	140,206	-
Cash and cash equivalents and deposits at end of period	882,428	140,206

Net Financial Position

in Euro		At March 31, 2016	May 28, 2015 – December 31, 2015
A	Cash	-	-
B	Other cash equivalents	882,428	140,206
C	Other current financial assets	304,120,265	304,858,075
D	Liquidity (A+B+C)	305,002,693	304,998,281
E	Current financial receivables	-	-
F	Current bank payables	-	-
G H	Current portion of non-current debt Other current financial payables	- -	- -
I	Current debt	-	-
J	Net current cash position	305,002,693	304,998,281
K	Non-current bank payables	-	-
L	Bonds issued	-	-
M	Other non-current payables	-	-
N	Non-current debt	-	-
O	Net cash position	305,002,693	304,998,281