Biesse

Board/Management Information • Sep 2, 2019

Pierre La Tour

Date and Place of Birth: 18 December 1967, Geneva (Switzerland) Nationality: Italian

WORK EXPERIENCE

The experiences highlighted below only focus on extraordinary, one-off activities. Besides these, day-to-day/standard tasks involving Controlling, Accounting, Treasury and Taxation are deliberately not mentioned in this document.

March 2019 – August 2019: CNH Industrial – Ankara (Turkey)

Finance Director – Turktraktor (JV between CNH Industrial and the Koc Group)

Responsible for Commercial, Manufacturing and Product Development Control, Accounting, Treasury and Taxation Net Revenues: ̴ US\$ 1.0 bn Reports to: JV CEO and CNHI APAC CFO (based in Europe) Finance Headcount: 52 (headcount in Ankara, Istanbul, Erenler, Izmir)

November 2015 – February 2019: CNH Industrial – Shanghai (China)

Chief Financial Officer – China

Responsible for Commercial, Manufacturing and Product Development Control, Accounting, Treasury and Taxation Net Revenues: ̴ US\$ 1.4 bn Reports to: APAC CFO (based in Europe) Finance Headcount: 58 excluding JVs (headcount in Shanghai, Harbin, Chongqing, Urumqi, Foshan)

Main Achievements:

• Legal Entities rationalization project (ongoing): consolidation of operations to achieve higher efficiency and cost effectiveness, reducing intercompany transactions and streamlining the Group's structure. Project approved by Group CFO in Jan. 2017. Project go-live (first phase) 1st Jan 2018.
• US\$ 90m capital injection in CNH Harbin, completed in Nov. 2018
• US\$ 100m capital injection in CNH China, completed in Nov. 2017
• Commercial Vehicles Joint Ventures restructuring
  • Naveco: carve-out of the Yuejin business (NS ̴ US\$ 350 m) and sale to SAIC Motor Corporation (signing date 31st May 2016, closing date 31st Dec. 2016)
  • SIH (NS ̴ US\$ 2 bn): equity transfer followed by capital injections (Nov 2016: US\$ 140m, 2018 ongoing: US\$ 45m), resulting in dilution of the equity holding
  • Played a leading role in the structuring of the transactions and negotiations with partners
  • Presented the transactions to the Group Executive Council (GEC) in 2016, 2017 and May 2018
• Agriculture business restructuring: layoff of 200 headcount and SG&A cost containment actions in Shanghai and Harbin (restructuring expenses US\$ 2.6 m, approved in Dec. 2016 by Group CFO and CEO).

February 2014 – October 2015: CNH Industrial – Turin (Italy)

Chief Financial Officer – Specialty Vehicles

Responsible for Commercial, Manufacturing and Product Development Control, Accounting (receivables invoicing flow only) Net Revenues: ̴ US\$ 1.0 bn (Defence Vehicles ̴ US\$ 650 m, Fire Fighting ̴ US\$ 350 m)

Reports to: Group CFO (based in U.S.A.)

Finance Headcount: 45 (headcount in Turin, Bolzano, Ulm – Germany, Belo Horizonte - Brazil)

• Main Achievements:
• Set up of the new Iveco Defence Vehicles Legal Entity (going concern's contribution in kind in exchange for newly issued shares through a capital increase)
• Turnaround of the Fire Fighting Ulm site: evaluation of business opportunities for CNHI/external activities to counter site under-utilization. Project presented to the Group Executive Council (GEC) in Oct. 2015.
• Board Director: Consorzio Iveco Oto Melara (CIO).

January 2013 – February 2014: CNH Industrial – Turin (Italy)

Double assignment: Finance Director – Business Development Finance Director – EMEA Commercial Vehicles Responsible for Commercial Control, Business Development Finance Net Revenues (EMEA Commercial Vehicles): ̴ US\$ 4.5 bn Reports to: Group CFO (based in U.S.A.) Finance Headcount: ̴ 60 (headcount in Turin, Chicago, and European markets) Main Achievements:

• Iveco-Larimar Joint Venture (South Africa), presented to the Group Executive Council (GEC) in Dec. 2013.
• Board Director: Iveco Australia, Iveco-AMT (Russia), Iveco AMCE (Ethiopia), Truck & Bus Company (Libya).

October 2011 – January 2013: Iveco S.p.A. – Turin (Italy)

Finance Director – International Operations and Business Development

Responsible for Commercial Control, Investment Control (including Product Development)

Net Revenues: ̴ US\$ 2.6 bn

Reports to: Iveco CFO (based in Turin)

Finance Headcount: ̴ 30 (headcount in Turin, Melbourne - Australia, Nanjing and Chongqing – China, Moscow - Russia) Main Achievements:

• Defined financial targets of foreign Joint Ventures/Legal Entities
• Supported the Joint Ventures/Legal Entities in the evaluation of major tangible/intangible investments.

January 2008 – September 2011: Iveco S.p.A. – Defence Vehicles, Bolzano (Italy)

Chief Financial Officer

Responsible for Commercial, Manufacturing and Product Development Control, Accounting (invoicing flow only) Net Revenues: ̴ US\$ 600 m

Reports to: Iveco CFO (based in Turin)

Finance Headcount: ̴ 30 (headcount in Bolzano and Vittorio Veneto – Italy, Belo Horizonte - Brazil)

Main Achievements:

• Actively involved in the bidding process that led to the award of the VBTP amphibious armoured vehicle to the Brazilian Army ( ̴ US\$ 2.2 bn, 20 years timeframe). Project (complete with dedicated plant investment) presented to the Group Executive Council (GEC) in Mar. 2011
• Actively involved in the negotiation process for the supply of the LMV armoured vehicle to the Russian Army ( ̴ US\$ 130 mn, 3 years timeframe)

July 2003- December 2007: Iveco S.p.A. / Fiat Powertrain Technologies, Turin, Italy

Industrial and Investments Controller

January 2001 – June 2003: Fiat S.p.A., Turin, Italy

Strategies and Business Development - Analysis and Development of Business Portfolio

June 1997 – December 2000: Teksid S.p.A., Fiat Group, Turin, Italy

Strategic Planning and New Initiatives

January 1995 – April 1997 : Société Générale Crosby Investment Bank, Karachi, Mumbai, Hong Kong

Investment Analyst

January 1991 – December 1994: Aga Khan Foundation, Geneva (Switzerland), Gilgit (Pakistan)

Regional Program Monitoring Officer

EDUCATION

October 1986 – October 1990: Université de Genève, Geneva (Switzerland): Licence ès Sciences Economiques et Sociales Specialization in Macro-Economics

1984 – 1986: Sevenoaks School, Sevenoaks, Kent (UK): International Baccalaureate

1981 – 1984: Ratcliffe College, Leicestershire (UK): "O" Levels

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