Landi Renzo

Earnings Release • Mar 30, 2020

LANDI RENZO S.P.A.

Financial Statements

Foreign non UE subsidiaries on December 31, 2019

Art. 15 Consob Regulation on Markets

(This is a translation, the Italian version prevails)

Non UE foreign subsidiaries Financial Statements on December, 31 2019 ex art. 15 Consob Regulation on Markets

1.	Introduction	pg.3
2.	LR Industria e Comercio Ltda Statement of financial position Income Statement	pg.4 pg.4 pg.5

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, 2019.

2. LR Industria e Comercio Ltda

Registered office: Avenida Paulo Miguel Bohomoletz, 175 Bairro Civit I – Municipio de Serra – Estado do Espirito Santo, CEP 02168-010 Share Capital: 4.320.000 BRL Currency: Brasilian Real Group ownership percentage: 99,99%

LR Industria e Comercio Ltda
ASSETS	31/12/2019	31/12/2018
Non-current assets
Property, plant and equipment	83,460	54,130
Total non-current assets	83,460	54,130
Current assets
Trade receivables	23,769,197	25,068,352
Inventories	8,714,920	8,221,575
Other receivables and current assets	4,671,571	2,679,468
Cash and cash equivalents	2,261,469	5,257,107
Total current assets	39,417,157	41,226,502
TOTAL ASSETS	39,500,617	41,280,632

EQUITY AND LIABILITIES	31/12/2019	31/12/2018
Net Equity
Share capital	4,320,000	4,320,000
Other reserves	4,814,769	3,262,159
Profit (loss) of the period	-2,210,284	1,552,610
TOTAL NET EQUITY	6,924,485	9,134,769
Non-current liabilities
Provisions for risks and charges	1,517,685	1,706,000
Total non-current liabilities	1,517,685	1,706,000
Current liabilities
Trade payables	30,656,184	26,192,816
Tax liabilities	203,907	3,266,779
Other current liabilities	198,356	980,268
Total current liabilities	31,058,447	30,439,863
TOTAL LIABILITIES AND EQUITY	39,500,617	41,280,632

LR Industria e Comercio Ltda
Income Statement	31/12/2019	31/12/2018
Revenues (goods and services)	35,758,047	59,539,911
Other revenue and income	46,049	102,948
Cost of raw materials, consumables and goods and change in inventories	32,316,850	44,470,899
Costs for services and use of third party assets	2,069,957	2,687,836
Personnel expenses	2,000,603	2,060,011
Accruals, impairment losses and other operating expenses	118,034	566,964
Gross Operating Profit	-701,348	9,857,149
Amortization, depreciation and impairment losses	16,328	23,589
Net Operating Profit	-717,676	9,833,560
Financial income	31,721	48,482
Financial expenses	909,928	704,162
Gains (losses) on exchange rate	-614,401	-2,269,191
Profit (Loss) before tax	-2,210,284	6,908,689
Current and deferred taxes	0	5,356,078
Profit (loss) of the period	-2,210,284	1,552,611