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Fiera Milano

Investor Presentation • Mar 23, 2015

4073_ip_2015-03-23_d2f1ad28-b440-4431-bb5f-d1e7feac19cc.pdf

Investor Presentation

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Fiera Milano Group FY 2014 Consolidated Results and the strategic guidelines of the 2015-2018 Industrial Plan

Conference Call – 23 March 2015

Contents

FY2014 highlights

  • 2014 results reflected not only a less favourable Italian exhibition calendar compared to the previous year but also the prolonged slowdown in the domestic market and were also impacted by the write-down of the trademarks of some trade publications, as well as some non-recurring expenses
  • Net exhibition space of 1,634,425 square metres (38% directly organised), of which 414,300 square metres abroad
  • Consolidated revenues: Euro 245.5 million
  • Consolidated gross operating loss: Euro 3.3 million
  • Consolidated net operating loss: Euro 18.8 million
  • Consolidated net loss: Euro 19.1 million

Weak Italian economy did not support exhibition industry in the last years

Italian exhibition calendar

Ne
t s
of
hib
ex		 tre
q.
me
s
itio
n s
p
ac
e
hib
itio
Ex
ns		 FY
14		 FY
13
An
al
hib
itio
nu
ex
ns
Dir
ly
ise
d
ect
org
an		 178
165
,		 198
92
5
,
Or
ise
d b
3rd
ies
art
g
an
y
p		 34
71
6,
5		 08
75
7,
5
To
tal
al
hib
itio
an
nu
ex
ns		 89
4,
51
0		 95
6,
01
0
hib
Bie
ial
itio
nn
ex
ns
Dir
ect
ly
ise
d
org
an		 14,
330		 199
33
5
,
Or
ise
d b
3rd
ies
art
g
an
y
p		 26
1,
06
0		 124
36
5
,
To
tal
bi
nia
l e
xh
ibi
tio
en
ns		 27
5,
39
0		 32
3,
70
0
Mu
lti
xh
ibi
tio
-y
ea
r e
ns
Dir
ly
ise
d
ect
org
an
Or
ise
d b
3rd
ies
art
g
an
y
p		 16,
480
-		 -
13,
86
5
To
tal
ult
i-y
xh
ibi
tio
m
ea
r e
ns		 16
48
0
,		 13,
86
5
To
tal
hib
itio
ex
ns		 1,
18
6,
38
0		 1,
29
3,
57
5
Co
ted
hib
ith
rela
itio
ng
res
ses
w
ex
n a
rea		 33
74
5
,		 40
105
,
To
tal		 1,
22
0,
12
5		 1,
33
3,
68
0

Annual exhibitions:

  • The negative trend in the economy and in the reference industrial sectors had a significant impact on the January edition of HOMI (homeware) and BIT (tourism) among the exhibitions that are directly organised and on The Innovation Cloud among exhibitions organised by third parties
  • The absence of Made (architecture, design and building sectors), which, from 2013, is held biennially
  • First edition of the biannual exhibition Lineapelle (41,665 square meters)

Biennial exhibitions:

Presence of Mostra Convegno Expocomfort and absence of HOST and TUTTOFOOD

Italian exhibitions

Ita
lia
xh
ibi
tio
n e
ns		 FY
14		 FY
13
(
)
Re
€'0
00		 18
1,
09
8		 19
4,
58
3
ve
nu
es
(
)
Gr
ati
lt
€'0
00
os
s o
p
er
ng
re
su		 (
)
12
89
4
,		 (
)
5,
12
4
%
on
rev
en
ues		 -7.
1%		 -2.
6%
(
)
Ne
ati
lt
€'0
00
t o
p
er
ng
re
su		 (
)
18
31
2
,		 (
)
11
80
6
,
%
on
rev
en
ues		 -10
.1%		 -6.
1%
  • The decrease in revenues reflected the trend in exhibition space occupied.
  • The gross operating result was affected by the trend in revenues and non-recurring expenses related to the relaunch of HOMI, partially offset by the reduction in the rent payable for the Rho exhibition site (Euro 6.7 million less)

Foreign exhibition calendar

Ne
t s
q.
f e
h
i
b
it
o
x		 tre
me
s
ion
sp
ac
e
Ex
h
i
b
it
ion
s		 F
Y1
4		 F
Y1
3
l e
h
i
b
it
ion
An
nu
a
x
s
C
h
ina		 2
8
3,
3
4
5		 2
9
2,
3
6
0
Bra
i
l
z		 3
0,
2
0
6		 3
0,
8
0
5
Tu
key
r		 25
0
75
,		 1
8,
8
8
0
In
d
ia		 2
0,
5
5
0		 1
3,
7
3
0
So
ut
h
A
fr
ica		 11
4
25
,		 11
3
5
5
,
Ru
ia
ss		 2,
6
0
0		 1,
21
0
T
ha
i
lan
d		 2,
5
0
0		 1,
5
0
0
l a
l e
h
i
b
it
ion
To
ta
nn
ua
x
s		 3
76
11
5
,		 3
6
9,
8
8
5
B
ien
ia
l e
h
i
b
it
ion
n
x
s
C
h
ina		 1,
2
0
0		 15
95
0
,
Bra
i
l
z		 3
6,
9
8
5		 1
8,
0
4
5
S
ing
ap
ore		 - 1,
1
2
0
b
b
To
ta
l
ien
ia
l e
h
i
it
ion
n
x
s		 3
8,
1
8
5		 3
5,
11
5
To
l
ta		 4
14
3
0
0
,		 4
0
5,
0
0
0
  • In China positive performance of Chengdu Motor Show, lower exhibition space from PTC Asia and the absence of the biennial exhibition WoodMac China
  • There was a more favourable exhibition calendar in Brazil as the biennial exhibitions FISP and Fesqua were held
  • Success of the first edition of CeBIT in India
  • In Turkey positive performances from Art Istanbul and the successful launch of Promoturk, an exhibition for corporate communication & promotional gifts, and from the ZheJiang Trade Fair

Foreign exhibitions

Stand-fitting services

St
d-f
itt
ing
ice
an
se
rv
s		 FY
14		 FY
13
(
)
Re
€'0
00
ve
nu
es		 33
38
9
,		 33
59
4
,
(
)
Gr
ati
lt
€'0
00
os
s o
p
er
ng
re
su		 89
1,
5		 1,
60
5
%
on
rev
en
ues		 5.7
%		 4.8
%
(
)
Ne
ati
lt
€'0
t o
00
p
er
ng
re
su		 36
5		 (
)
21
5
%
on
rev
en
ues		 1.1
%		 -0.
6%

Despite the less favorable exhibition calendar, revenues were basically stable reflecting higher stand-fitting volumes due to the strong performances of the Salone Internazionale del Mobile, HOMI and Lineapelle

Media

Me
dia		 FY
14		 FY
13
(
)
Re
€'0
00
ve
nu
es		 12
33
4
,		 11
95
8
,
(
)
Gr
ati
lt
€'0
00
os
s o
p
er
ng
re
su		 41
5		 27
7
%
on
rev
en
ues		 3.4
%		 2.3
%
(
)
Ne
ati
lt
€'0
00
t o
p
er
ng
re
su		 (
)
4,
12
0		 (
)
7,
33
5
%
on
rev
en
ues		 -33
.4%		 -61
.3%
  • The improved revenues and gross operating result were mainly due to higher poster advertising revenues from the presence of Mostra Convegno Expocomfort and to the launch of Lineapelle, as well as to higher revenues from digital services
  • The improvement in the net operating result was due to lower write-downs for trade publications: Euro 3.6 million in 2014 compared to Euro 6.6 million the previous year

Congresses

Co
ng
res
se
s		 FY
14		 FY
13
(
)
Re
€'0
00
ve
nu
es		 83
37
5
,		 24
54
6
,
Gr
(
)
ati
lt
€'0
00
os
s o
p
er
ng
re
su
%
on
rev
en
ues		 6,
04
5
0%
16.		 2,
53
2
10.
3%
ati
lt
(
)
Ne
t o
€'0
00
p
er
ng
re
su		 3,
37
3		 56
6
%
on
rev
en
ues		 8.9
%		 2.3
%
  • The increase in revenues and margins was mainly due to the use of the MiCo Congress Centre for meetings held during the Italian presidency of the European Union
  • The gross operating result was affected by a few non-recurring expenses for improvements made to the MiCo – Congress Centre

Consolidated Income Statement

Co
da
d
(
)
l
i
te
In
S
ta
te
t
€
'0
0
0
ns
o
co
me
me
n		 F
Y
1
4		 F
Y
1
3
tat
ed
*
res
Re
ve
nu
es		 2
4
5,
4
5
7		 2
4
5,
0
5
7
Gr
t
ing
l
t
os
s o
p
er
a
re
su		 (
)
3,
3
3
8		 2,
1
5
5
(
)
Ma
in
%
rg		 %
-1.
4		 0.
9
%
(
)
ing
l
Ne
t o
t
t
E
B
I
T
p
er
a
re
su		 (
)
1
8,
7
9
3		 (
)
1
7,
0
8
7
(
)
Ma
in
%
rg		 -7.
7
%		 -7.
0
%
(
)
Pr
f
i
/
los
be
fo
inc
t
ta
o
s
re
om
e
x		 (
)
2
3,
6
9
2		 (
)
2
0,
9
3
2
(
)
Ma
in
%
rg		 -9.
7
%		 -8.
5
%
(
)
Pr
f
i
/
los
t
o
s		 (
)
1
9,
1
0
6		 (
)
1
6,
6
2
5
(
)
Ma
in
%
rg		 -7.
8
%		 -6.
8
%
i
bu
b
le
S
ha
ho
l
de
f
he
l
l
ing
i
t
tr
ta
to
t
tro
t
ty
-a
re
rs
o
co
n
en		 (
)
1
8,
9
5
5		 (
)
1
6,
4
9
8
(
)
Ma
in
%
rg		 -7.
7
%		 -6.
7
%
i
bu
b
le
l
l
ing
in
t
tr
ta
to
tro
te
ts
-a
n
on
-co
n
re
s		 (
)
1
5
1		 (
)
1
2
7
(
)
Ma
in
%
rg		 -0.
1
%		 -0.
1
%

* Some figures in the Consolidated Financial Statements at 31 December 2013 have been restated for comparative purposes following the introduction of IFRS 11 applicable from 1 January 2014

Consolidated Statement of Financial Position

(
)
Co
l
i
da
d
S
f
F
ina
ia
l
Po
i
ion
€
'0
te
ta
te
t o
t
0
0
ns
o
me
n
nc
s		 3
/
2
/
1
1
1
4		 /
/
3
1
1
2
1
3
tat
ed
*
res
No
t a
ts
n-c
ur
ren
sse		 2
0
4,
7
3
0		 2
0
9,
4
0
2
Ne
k
ing
i
l
t w
ta
or
ca
p		 (
)
4
4,
1
3
5		 (
)
4
9,
1
8
6
Gr
d
i
ta
l e
loy
os
s c
ap
m
p
e		 1
6
0,
5
9
5		 1
6
0,
2
1
6
No
l
ia
b
i
l
i
ies
t
t
n-c
ur
ren		 1
9,
2
4
0		 2
0,
9
2
9
To
l n
i
l e
loy
d
ta
t c
ta
e
ap
m
p
e		 3
1
4
1,
5
5		 3
9,
2
8
1
7
Eq
i
ty
u		 9,
8
8
1
6		 3
2
7,
4
6
f
ina
ia
l p
i
ion
Ne
t
t
nc
os		 1
2
1,
6
6
7		 1
0
1,
8
2
5
Eq
i
ty
d n
t
f
ina
ia
l p
i
t
ion
u
a
n
e
nc
os		 1
4
1,
3
5
5		 1
3
9,
2
8
7

* Some figures in the Consolidated Financial Statements at 31 December 2013 have been restated for comparative purposes following the introduction of IFRS 11 applicable from 1 January 2014

Consolidated Net Financial Position

(
)
Co
l
i
da
d
Ne
F
ina
ia
l
Po
i
ion
€
'0
0
0
te
t
t
ns
o
nc
s		 3
1
/
1
2
/
1
4		 3
/
2
/
3
1
1
1
ed
*
tat
res
(
)
Ca
h
inc
lu
d
ing
ba
k
ba
lan
s
n
ce
s		 1
2,
2
7
6		 1
1,
4
1
6
O
he
h e
iva
len
t
ts
r c
as
q
u		 - -
Se
i
ies
he
l
d
for
d
ing
t
tra
cu
r		 - -
Ca
h
h e
iva
len
&
ts
s
ca
s
q
u		 1
2,
2
7
6		 1
1,
4
1
6
Cu
f
ina
ia
l a
t
ts
rre
n
nc
ss
e		 - 6
3
5
Cu
ba
k
bo
ing
t
rre
n
n
rro
s
w		 6
2,
9
0
8		 4
2,
7
0
6
Cu
ion
f n
de
b
t p
t
t
t
rre
n
or
o
on
-cu
rre
n		 9,
9
8
1
6		 2,
9
9
1
6
O
he
f
ina
ia
l
l
ia
b
i
l
i
ies
t
t
t
r c
ur
ren
nc		 2
2,
1
5
0		 2
0,
5
7
2
Cu
t
f
ina
ia
l
de
b
t
rre
n
nc		 1
0
5,
0
4
4		 7
5,
9
7
7
(
)
Cu
f
ina
ia
l
de
b
h
t n
t
t
rre
n
e
nc
ca
s		 9
2,
7
6
8		 6
3,
9
2
6
No
ba
k
bo
ing
t
n-c
ur
ren
n
rro
w
s		 8
8
2
6,
9		 8
3
4,
4
0
b
De
t s
i
t
ies
in
iss
ec
ur
ue		 - -
O
he
b
les
t
t p
r n
on
-cu
rre
n
ay
a		 2,
0
0
1		 3,
4
9
1
No
f
ina
ia
l
de
b
t n
t
t
n-
cu
rre
n
e
nc		 2
8,
8
9
9		 3
7,
8
9
9
(
)
Ne
f
ina
ia
l
de
b
h
t
t
nc
ca
s		 1
2
1,
6
6
7		 1
0
1,
8
2
5

* Some figures in the in the Financial Position at 31 December 2013 have been restated for comparative purposes following the introduction of IFRS 11 applicable from 1 January 2014

The increase in net debt mainly reflected the lower cash flow from operating activities and cash outflows for investments that were mainly for improvements made to MiCo – Milano Congressi

Fiera Milano SpA

  • • The difficult economic environment in Italy and the unfavourable exhibition calendar had an impact on the results of the Parent Company in 2014: the net loss was Euro 30.7 million
  • • The net loss also reflected Euro 14.9 million of impairment charges for investments in the subsidiary Fiera Milano Media, which incorporates the value of the business divisions for publications, editorial and communication products (Euro 11.1 million) and for the investments held by the subsidiary Eurofairs International Consultoria e Participaçoes (Euro 3.8 million)
  • • As a result, the share capital of the Parent Company has fallen by one-third and the Company is in the situation to which Article 2466 of the Italian Civil Code applies
  • • The exhibition business has shown positive signs in the first months of 2015 supporting the assumption of a turnaround in 2015 when the Company should benefit not only from the economic recovery in Italy, now considered highly likely, but also from the particularly favourable exhibition calendar and the presence of Expo 2015
  • • The forecasts for 2015 underpin Company expectations that, barring any unforeseeable events, it will be able to restore the share capital to above the two-thirds threshold required by law

Contents

The global exhibition market is growing

Mature markets have also returned to growth after a period of stagnation

  1. Emerging Markets: China, Russia, India, Brazil, Mexico, Turkey, Gulf Cooperation Council 2. Mature Markets: US, Germany, UK, France, Italy, Hong Kong Note: Countries represented in AMR account for approx. 86% of global market. Source: AMR international Globex report 2014

Italy was the only large exhibition market that fell in 2011-2013

Three main trends in the trade fair industry

Internationalization2

Growing share of business from international events for key market players

• Leveraging on geo-cloning of successful domestic exhibitions

One-stop shop

1

Leadership in industry sector in Europe key success factor for exhibitions

• Exhibitors and visitors tend to attend more and more only tier 1 exhibitions

Trade fair and exhibition industry

Digital services

Increased use of digital products to complete exhibition offer

• Driving customer understanding

3

• Only secondary source of revenue

Outlook: main industry sources project significant growth in the next five years

AMR market estimate and forecast

4,7 5,1 5,7 6,2 6,6 7,1 7,7 8,3 8,9 9,6 0510152025303540453.4%4.7%Mature MarketsEmerging Markets2018f35.325.72017f33.724.82016f32.424.22015f30.723.02014f29.324.62009 201024.7201125.7201227.0201328.122.3 19.9 19.6 20.0 20.8 21.5 Forecast

Source: AMR international Globex report 2014

The exhibition industry expects a slow recovery in the Italian market in the next five years

Fiera Milano strategic plan 2015-2018: the three main pillars

First strategic pillar: Build a portfolio of leading exhibitions

Establish

1

Build a portfolio of leading exhibitions

leadership of proprietary fairs with high potential

Main

• Consolidate leadership of HOST through completion of offer (e.g. ice‐cream & bread‐making machinery) and increase the presence of international exhibitors

elements

  • • Ensure EU leadership of TUTTOFOOD by expanding existing categories (e.g. dairy, cured meats) and increasing the presence of international exhibitors alsoby leveraging on Expo 2015
  • • Restore the EU leadership of HOMI through expansion of existing categories (e.g. home fragrances, tableware), agreements with leading partners, and the increasedpresence of international exhibitors

Attractleading Italian exhibitions with growth potential to Milan

  • • Attract leading Italian exhibitions to the Milan venue and expand these exhibitions withinthe context of the EU
  • •Development of small/medium niche exhibitions with strong potential

Most Italian exhibitions are organized by venue operators or national trade associations

Source: AMR international Globex report 2014; AUMA

Large-scale growth potential indentified in three sectors of Fiera Milano's exhibition portfolio

Tuttofood third exhibition in EU within food segment by size, but growing fast

2009-2015 period

Note: Net space venue capacity hypothesized 55% of gross capacity Source: UFI 2013; AUMA; industry experts

HOMI third exhibition in homeware segment

Second strategic pillar: Take the international business to the next level

Mainelements

Buildlarge‐scale geo‐clones of leading domestic exhibitions

  • • Develop HOST and TUTTOFOOD geo‐clones through JVs withcomplementary exhibitions
  • • Develop geo‐clones of HOMI (Russia) an d introduce the exhibition to newmarkets(e.g. the USA) together with partners with local knowledge
  • • Develop MICAM in China through the addition of MIFUR and aclothing sector

Take the international business tothe next level

Develop the international exhibition portfolio, after the divestment of smaller fairs

  • • Grow the leading fairs in the proprietary exhibition portfolio (e.g. FISP, Exposec, Tubotec) targeting sectors and countries with strong potential
  • • Divest exhibitions of under 3,000 sqm that offer limited growth potential orportfolio synergies

Geo-clones of leading domestic exhibitions

Proprietary exhibitions exported from Italy

HOMI to:

  • Russia (Moscow)
  • USA (New York)

Food Hospitality World to:

  • India (Bangalore; Mumbai)
  • China (Guangzhou)
  • Brazil (São Paulo)
  • South Africa (Cape Town)

Tuttofood to:

USA (Chicago and San Francisco)

HOST to:

Russia (Moscow)

Third-party exhibitions exported from Italy

TheMICAM to:

China (Shanghai) through the addition of MIFUR and a clothing sector

Proprietary exhibitions exported from South Africa

Good Food & Wine Show to:

India (New Dehli)

Third strategic pillar: Maximize potential of ancillary businesses

Mainelements

Maximize potential of ancillary businesses

Booststand‐fitting penetration

  • • Increase penetration in the Rho and Fiera Milano city venues of standard fittings by 20% through a targeted go‐to‐market approach and product innovation
  • • Develop external markets (Italian congress market, events) through product investments (e.g. new materials, updated designs) and a dedicated marketing team

Develop digital business for exhibitions

• Grow the digital business for exhibitions leveraging on the database service for exhibitors andvisitors, generating leads and branding content

Offer destinationmanagement services

  • • Introduce destination services (e.g. ticketing, reservations, catering) for congresses and for visitors to Fiera Milano
  • • Partnership with a leading destination management provider to ramp‐up the business inthe short‐term

Stand fitting growth driven by increased penetration in Rho venue and expansion into external markets

Increase penetration in shell scheme

+20 p.p. of market share on small stands

• Upgrade products through modernization of current design and acquisition of new materials

Explore external market with shell scheme

Increase market share on Italian congress market and events

• Product enhancement: modernization of current design, acquisition of high-end materials for congress and events markets

Development of Digital business introducing new products and partnering with specialist operator

Develop digital products

•

Development/ introduction of new digital products and services to support organized fairs

  • • Introduction of lead generation and branded contents in addition to display ads to increase monetization potential
  • •Offering of matchmaking platform and related services
  • Growth of existing editorial portals and launch of additional ones
  • • Implementation of marketing tools aiming to monitor user behavior and increase customer understanding (e.g. iBeacons)

Expand service offering with commercial partnership

Increase monetization potential by offering integrated communication bundle in collaboration with commercial partner

  • • Creation of integrated solution targeting SMEs with bundled communication products leveraging on DB (e.g. lead generation, DEM)
  • •Exploit commercial contacts of partner for distribution

Congresses business with potential to grow further

2015 financial targets (Euro mn)

  • In 2015, the first year of the 2015-2018 Industrial Plan, forecasts are for consolidated revenues of over Euro 330 millionand a consolidated gross operating margin of 10%
  • The first two months of 2015 have shown strong growth in results from operations: consolidated revenues in excess of Euro 50 million, an increase of more than 50% compared with the first two months of 2014, and a gross operating profit of about Euro 7 million, a significant improvement compared with the gross operating loss of Euro 8 million in the same period of the previous year
  • In March 2015, the subsidiaries Nolostand and Fiera Milano Congressi won the contract for the stand-fitting and management of the Expo 2015 Congress Centre and Auditorium

Fiera Milano SpA Income Statement

(
)
F
ier
M
i
lan
Sp
A
In
S
€
'0
0
0
ta
te
t
a
o
co
me
me
n		 F
Y
1
4		 F
Y
1
3
Re
ve
nu
es		 1
8
1,
0
9
8		 1
9
4,
5
2
3
Gr
ing
l
t
t
os
s o
p
er
a
re
su		 (
)
2,
8
8
1
7		 (
)
9
8
9
4,
(
)
Ma
in
%
rg		 -7.
1
%		 -2.
6
%
(
)
Ne
ing
l
E
B
I
T
t o
t
t
p
er
a
re
su		 (
)
1
8,
3
1
5		 (
)
1
1,
6
7
6
(
)
Ma
in
%
rg		 -1
0.
1
%		 -6.
0
%
/
(
)
Pr
f
i
los
be
fo
inc
t
ta
o
s
re
om
e
x		 (
)
3
5,
9
0
1		 (
)
1
5,
2
7
5
(
)
Ma
in
%
rg		 -1
9.
8
%		 -7.
9
%
/
(
)
Pr
f
i
los
t
o
s		 (
)
3
0,
6
7
4		 (
)
1
2,
6
6
4
in
(
)
Ma
%
rg		 -1
6.
9
%		 -6.
5
%

Fiera Milano SpA Statement of Financial Position

(
)
F
ier
M
i
la
Sp
A
S
ta
te
t o
f
F
in
ia
l
Po
i
t
io
€
'0
0
0
a
no
m
en
an
c
s
n		 /
/
3
1
1
2
1
4		 /
/
3
1
1
2
1
3
No
t a
ts
n-
cu
rre
n
sse		 1
9
3,
9
0
6		 2
0
9,
2
6
2
k
ing
i
l
Ne
t w
ta
or
ca
p		 (
)
4
2,
2
9
8		 (
)
4
6,
5
0
5
Gr
i
l e
loy
d
ta
os
s c
ap
m
p
e		 1
5
1,
6
0
8		 1
6
2,
7
5
7
No
l
ia
b
i
l
i
ies
t
t
n-
cu
rre
n		 7,
6
3
1		 9,
0
4
7
To
l n
i
l e
loy
d
ta
t c
ta
e
ap
m
p
e		 3,
9
1
4
7
7		 3,
0
1
5
7
1
S
ha
Ca
i
l
ta
re
p
Re
se
rve
s
ine
d
ing
Re
ta
ea
rn
s
(
)
Pr
f
i
los
fo
he
t
t
o
s
r
y
ea
r
Eq
i
ty
u		 4
1,
5
2
1
1
1,
0
6
8
(
)
1
7
9
(
)
3
0,
6
7
4
2
1,
7
3
6		 4
1,
5
2
1
2
3,
7
3
2
(
)
1
2
(
)
2,
1
6
6
4
5
2,
5
7
7
Ne
f
in
ia
l p
i
io
t
t
an
c
os
n		 1
2
2,
2
4
1		 1
0
1,
1
3
3
Eq
i
d
f
in
ia
l p
i
io
ty
t
t
u
a
n
ne
an
c
os
n		 1
4
3,
9
7
7		 1
5
3,
7
1
0

Forward-Looking Statements

Data and information herewith set forth are extracted from the Fiera Milano Press Release issued on 20 March 2015 filed with 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 Flaminio Oggioni 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.

Fiera Milano SpA

For further information, please contact:

Gianna La RanaInvestor Relations Manager Camilla CusiInvestor Relations

Fiera Milano SpA Strada Statale del Sempione, 28 20017 Rho (Milano) - ITALY Tel: + 39 02 4997.7816/7911E-mail: [email protected] www.fieramilano.it

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