Landi Renzo

Investor Presentation • May 13, 2015

1Q15 FINANCIALRESULTS

1Q15 PROFIT&LOSSHIGHLIGHTS

( l l ) Eu i io r m n
	Q 2 0 1 1 5	%	Q 2 0 1 1 4	%	h C a n g e s	%
( d d ) R i e v e n u e s g o o s a n s e r v c e s	6 4 5.		8. 4 1		-2 6	3 % -5
b d E i t a	0. 0	0. 1 %	1. 5	3. 2 %	-1 5	-9 2 % 7.
d d A i i i i t t t m o r z a o n, e p r e c a o n a n
l i i t m p a r m e n o s s e s	3. 9	8. % 5	3. 7	% 7. 7	0. 2	4. 1 %
b i E t	-3 8	-8 4 %	-2 2	-4 6 %	-1 6	-7 3. 5 %
f i ( ) f h N P L G t t t e r o o s s o e r o u p	-2 7	-6 0 %	-2 4	-5 1 %	-0 3	-1 1. 5 %

Revenues. OEM business had good performances that only partially offset the decrease of After Market segment.

EBITDAdecreases mainly for volume effect and product mix.

REVENUES BREAKDOWN

( M i l l ion f Eu ) s o ro
Ge h ica l d is i bu ion f r tr t og ra p o ev en ue s	Q 1 2 0 1 5	%	Q 1 2 0 1 4	%	De l ta	%
I ly ta	9. 5	2 0. 9 %	1 0. 9	2 2. % 7	1. 4 -	1 3. 0 % -
Eu ( I ly ) ta rop a ex	2 1. 9	4 8. 0 %	2 1. 7	4 5. 2 %	0. 1	0. 6 %
Am ica er	8. 0	1 7. 6 %	7. 5	1 5. 5 %	0. 6	7. 4 %
As ia d r f he l d t o t an es w or	6. 2	1 3. % 5	8. 0	1 6. 6 %	1. 8 -	2 2. 9 % -
To l ta	4 5. 6	1 0 0. 0 %	4 8. 1	1 0 0. 0 %	2. 6 -	5. 3 % -

( M illio f E ur) n o
D is i bu io f r f a iv i tr t t ty n o ev en ue s p er ar ea o c	Q 1 2 0 1 5	%	Q 1 2 0 1 4	%	De l ta	%
Ga fo tor tem s s ec sy s s r c ar s -	3 8. 0	8 3. 5 %	3 9. 6	8 2. 3 %	1. 6 -	-4 0 %
Ga d is i bu ion tor tr t tem s s ec sy s s -	4. 6	1 0. 0 %	5. 2	1 0. 7 %	0. -	6 -1 1. 4 %
To l r G A S s ta to ev en ue s - ec r	4 2. 6	9 3. % 5	4 4. 7	9 3. 0 %	2. 2 -	4. 8 % -
O ( ( ), he A lar Au d io, Aq ics 1 t tem tro r m sy s s, ua n O Ga ) Ro bo ics i l a d d o he t t n s a n r ,	3. 0	6. 5 %	3. 4	7. 0 %	0. -	4 -1 2. 2 %
To l r ta ev en ue s	4 5. 6	1 0 0. 0 %	4 8. 1	1 0 0. 0 %	2. 6 -	5. 3 % -

A new criterion for classification of revenues by segment was followed starting from the first half of 2014: this is in line with thelogic of the management approach. The current composition shows the LPG and CNG lines in the segment "systems for cars"and includes revenues from sales of compressors for fueling stations, made by the company Safe SpA in the sector "distribution system".

The segment "Other - (Alarms, Sound, Aquatronica (sold on April 2014), Robotics, Oil&Gas and other)," compared to previousresults, does not include the sale of compressors for fuelling stations, by virtue of the above mentioned reclassification.

GEOGRAPHIC BREAKDOWN

Italy – turnover has decreased mainly due to the flexion in AM business.

Europe – revenues in this area are stable due to the positive trend of OEMbusiness.

America – the increase is positive particularly in Brasil and Argentinamarket.

Asia and rest of the world – the decrease is ^a consequence of negativetrend in Far East and South WesternAsian Area.

SECTOR BREAKDOWN

Systems for cars – the decrease is due to the AM segment partially offset bythe good level of revenues of OEM carmakers.

Distribution systems – the good performance in South East Asia market partially offsets the lower performance inEastern Europe.

Other – the slight decrease in thissegment is due mainly to the Oil&Gassector.

3

WORKING CAPITAL

Working Capital – the level is the result, mainly, of the increase of inventories level to support the business of the coming quarters.

4

NET DEBT

Net financial position– the increase is generated mainly by the working capital trend during 1Q15.

LANDI RENZO COMPANY PROFILE

BOARD OF DIRECTORS

Stefano Landi – President & CEOGiovannina Domenichini – Honorary President Claudio Carnevale - Executive DirectorHerbert Paierl - DirectorAntonia Fiaccadori – DirectorAlessandro Ovi - Indip. DirectorTomaso Tommasi di Vignano – Indip. Director

INVESTOR RELATIONS

Investor Relations Contacts:

Pierpaolo MarzialiTel: +39 0522 9433 E-mail: ir@landi.itwww.landi.it

SHAREHOLDING

SHARE INFORMATION

N. of shares outstanding: 112.500.000Price as of 11/05/15 1.025€Capitalization: € 115,31 mlnFTSE Italia STAR

STOCK VS MARKET

7

CONSOLIDATEDBALANCE SHEET

( ho ds f Eu ) t us an o ros
S S S A E T	/ / 3 1 0 3 2 0 1 5	/ / 3 1 1 2 2 0 1 4	/ / 3 1 0 3 2 0 1 4
No t a ts n- cu rre n ss e
Pro lan d e ip ty, t a nt p er p n q u me	3 5, 1 9 1	3 5, 2 7 7	3 5, 1 8 0
De lop d itu nt ve me ex p en re	7, 1 2 1	7, 1 0 1	6, 4 3 5
Go dw i l l o	3 9, 9 4 2	3 9, 9 4 2	4 0, 1 9 0
O f fu he int i b le it h in ite l l ive t ts r an g as se w us e s	2 4, 2 8 8	2 4, 6 3 7	2 6, 0 3 5
Eq ity inv l i da d u ing he ity ho d tm ts te t t u es en co ns o s eq u me	4 9 1	1 8 0
O f he ina ia l a t nt ts r n on -cu rre nc ss e	7 8 8	7 7 3	1, 0 5 1
fe De d tax ts rre as se	1 8, 4 9 3	1 7, 2 4 7	1 7, 2 7 5
To l n ta t a ts on -c ur re n ss e	1 2 6, 3 1 4	1 2 5, 1 5 7	1 2 6, 1 6 6
Cu t a ts rre n ss e
Tra de iva b les re ce	3 3, 3 2 1	3 3, 0 6 9	3 4, 6 0 5
Tra de iva b les la d p ies te t re ce re ar -	2, 5 0 7	1, 9 8 6	1 9 2
Inv ies tor en	7 2, 8 6 2	6 3, 2 6 9	6 7, 2 1 6
Co ks in ntr t w ac or p rog res s	2, 7 3 2	2, 5 9 0	3, 8 4 5
O he iva b les d c t t a ts r r ec e an urr en ss e	1 5, 7 7 1	1 5, 5 3 3	1 8, 1 2 5
Ca h a d c h e iva len ts s n as q u	2 2, 5 8 8	3 1, 8 2 0	2 7, 7 9 6
To ta l c t a ts ur re n ss e	1 4 9, 7 8 1	1 4 8, 2 6 7	1 5 1, 7 7 9
T O T A L A S S E T S	2 6, 0 9 5 7	2 3, 4 2 4 7	2 9 4 5 7 7,

CONSOLIDATED BALANCE SHEET

( f ) ho ds Eu t us an o ros
Q S E U I T Y A N D L I A B I L I T I E	/ / 3 1 0 3 2 0 1 5	/ / 3 1 1 2 2 0 1 4	/ / 3 1 0 3 2 0 1 4
Gr ha ho l de ' e ity ou p s re rs q u
S ha ita l re ca p	1 1, 25 0	1 1, 25 0	1 1, 25 0
Ot he r re se rve s	9 6, 6 8 8	9 8, 0 1 8	9 7, 6 4 8
Pro f it ( los ) f t he io d s o p er	-2, 4 75	1, 8 3 7 -	2, 0 1 5 -
To l e ity i bu b le he ha ho l de f t he ta at tr ta to t t q u s re rs o p ar en	1 0 5, 1 8 4	1 0 7, 4 8 5	1 0 6, 3 9 7
M ino ity inte ts r res	7 25	5 9 1	47 6
T O T A L E Q U I T Y	1 0 5, 9 0 9	1 0 8, 0 7 6	1 0 6, 8 7 3
No nt l ia b i l it ies n-c ur re
No ba k loa t n-c urr en n ns	2 6, 6 45	2 6, 17 1	1 1, 4 0 5
Ot he f ina ia l l ia b i l it ies nt r n on -cu rre nc	1, 17 8	1, 17 8	6 6 1
fo Pro is ion is ks d c ha v s r r an rg es	5, 2 3 4	5, 0 5 5	6, 3 2 8
De f ine d be f it p lan ne s	3, 8 27	3, 8 1 8	3, 8 0 5
De fer d t l ia b i l it ies re ax	8, 6 15	8, 4 17	8, 6 5 7
To l n l ia b i l it ies ta nt on -cu rre	5, 4 4 9 9	4 4, 6 3 9	3 0, 9 0 1
Cu ia i it ies nt l b l rre
Ba k o dra fts d s ho loa rt-t n ve r an erm ns	5 2, 8 47	5 1, 5 8 0	7 1, 7 8 0
Ot he f ina ia l l ia b i l it ies t r c urr en nc	1 3 7	1 3 7	3 1
Tra de b les p ay a	5 8, 3 8 2	5 4, 6 3 2	5 4, 6 8 8
Tra de b les late d p ies art p ay a re -	1, 4 9 3	1, 3 0 4	6 8 4
Ta l ia b i l it ies x	2, 3 4 4	4, 4 9 2	3, 8 0 8
Ot he l ia b i l it ies t r c urr en	9, 4 8 4	8, 5 6 4	9, 1 8 0
To l c l ia b i l it ies ta nt ur re	1 2 4, 6 8 7	1 2 0, 7 0 9	1 4 0, 1 7 1
S T O T A L L I A B I L I T I E A N D E Q U I T Y	2 7 6, 0 9 5	2 7 3, 4 2 4	2 7 7, 9 4 5

CONSOLIDATED PROFIT&LOSS

( ho ds f E ) t us an o uro s
IN C O ME S TA TE ME NT	3 1 / 0 3 / 20 15	3 1 / 0 3 / 20 14
Re ( ds d s ice ) ve nu es g oo an erv s	45 46 6 ,	47 74 0 ,
Re ( ds d s ice )- late d p ies art ve nu es g oo an erv s re	92	38 3
Ot he nd in r re ve nu e a co me	22 0	22 4
Co f r ia ls, b les d g ds d c ha in i ies st ter tor o aw ma co ns um a an oo an ng e nv en	19 85 2 - ,	20 51 8 - ,
Co for rvi nd f t hir d p sts art ts se ce s a us e o as se y	-13 65 8 ,	14 27 0 - ,
Co for rvi nd f t hir d p late d p ies sts art ts art se ce s a us e o as se – r e y	-66 9	8 57 -
Pe l ex rso nn e p en se s	-10 92 9 ,	10 64 5 - ,
Ac ls, imp irm los nd he ing t ot t cru a a en se s a r o p era ex p en se s	-62 7	81 9 -
ing f it Gr Op at Pr os s er o	43	1, 5 17
Am iza ion de iat ion d imp irm los ort t t p rec an a en se s ,	-3, 87 8	3, 72 7 -
f Ne t Op at ing Pr it er o	-3, 8 3 5	2, 21 0 -
Fin ia l in an c co me	11 5	11 6
Fin ia l ex an c p en se s	-79 9	1, 04 1 -
Ga ins ( los ) ha ate se s on ex c ng e r	1, 02 4	16 7
Ga ins ( los ) ity inv lida d u ing he ity ho d tm ts te t t se s on eq es en co ns o s eq me u u	4
( ) Pr f it Lo be fo ta o ss re x	-3, 49 1	2, 9 6 8 -
Cu d de fer d t nt rre an re ax es	4 77	53 1
( ) Pr f it los f t he io d fo r t he G d m ino ity int ts inc lu d ing o s o p er ro up an r er es : ,	2, 71 7 -	2, 43 7 -
Min ity inte ts or res	37	64
Pro fit ( Lo ) f t he io d for he Gr t ss o p er ou p	-2, 4 75	2, 50 1 -
( ) ( ) Ba ic ing los ha lcu lat d o n 1 12 5 0 0, 0 0 0 s ha s ea rn s s p er s re ca e re s ,	-0. 02 45	0.0 22 2 -
D ilu d e ing ( los ) ha te ar n s s p er s re	-0. 02 45	0.0 22 2 -

This presentation has been prepared by Landi Renzo S.p.A. for information purposes only and for use in presentations of the Group's results and strategies.

For further details on the Landi Renzo Group, reference should be made to publicly available information, including the Quarterly Reports and the Annual Reports.

Statements contained in this presentation, particularly the ones regarding any LandiRenzo possible or assumed future performance, are or may be forward looking statements and in this respect they involve some risks and uncertainties.

Any reference to past performance of the Landi Renzo shall not be taken as an indication of future performance.

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© LANDI RENZO SPA 2015.