Servizi Italia

Environmental & Social Information • May 16, 2018

SERVIZI ITALIA AT^A GLANCE

• • Undisputed leader in providing industrial LAUNDRY AND ^STERILIZATION SERVICES TO THE ^HEALTHCARE SYSTEM, thanks to a consolidation strategy made of internal growth and acquisitions.
• • ^HIGH QUALITY OF MIXOF PRODUCTS AND SERVICES, satisfying expectations and needs of customers.
• • ^A business model which contributes to the ^RATIONALIZATION OF ^HEALTHCARE COSTS and SOCIAL SUSTAINABILITY in Italian regions and wherever it operates.

WASH-HIRE

(75.4%of 2017 revenues)

Washing and rental of flat linen(sheets, sleepers, blankets), packed linen (scrubs, uniforms for health personnel), mattresses and pillows.

TEXTILE^STERILIZATION

(8.1%)

Sterilization of cotton fabrics andReusable Technical Fabric for beds and surgical gowns, procedural kits and surgical drapes, as well as accessoryparts in disposable material.

SURGICAL ^INSTRUMENTS^STERILIZATION

(16.5%)

Collection, conditioning, maintenance and sterilization of surgical instruments and kits.Management of sterilization plants.Design, installation and renovation of sterilization plants.Validation and control of sterilization processes.

TECHNOLOGICALLY ADVANCED PRODUCTIONPLATFORM

Since 2012, SERVIZI ITALIA has been spreading at an international level and, thanks to its technologically advanced production platform, it is now present in 6 COUNTRIES.

SERVIZI ITALIA Group counts more than 3,470 employees distributed throughout:

• •10 laundries in Italy;
• •4 laundries in Brazil (Sao Paulo State);
• •5 laundries in Turkey;
• •16 CSSDs for surgical instruments in Italy;
• •7 CSSDs for linen in Italy.

SERVIZI ITALIA participates in the share capital of other associated companies that operate through:

Brazil

Italy

India

Turkey

Turkey

Albania

Morocco

• •1 laundry plant in India;
• •1 CSSD (+ sub-CSSD) for sterilization of textile/surgical instruments in Albania
• •1 CSSD for sterilization of textile/surgical instruments in Turkey
• •1 CSSD for sterilization of textile/surgical instruments in Morocco

GROUP^EVOLUTION

BUSINESS^OVERVIEW

SERVIZI ITALIA is the partner of choice of the healthcare service and hospitals, thanks to its provenand recognized quality service.

1. LONG-TERM CONTRACTS AND ACTIVITY PLANNING FOR FUTURE YEARS

• Revision of contracted prices according to regulations in force;
• High quality of credits (mainly government bodies);
• Cross-selling opportunities on wash-hire contracts for higher value added services.

2. INVESTMENTS MADE ONLY AFTER CONTRACT ACQUISITIONand refund according to contract.

1. MIX PRODUCT/SERVICE which creates strong barriers on entry.

Creating value over time:

• • Optimization of costsboth logistics and productive
• Commercial synergies and common processes
• -Development of high value-added services
• -International development strategy
• Renegotiation of expiring contracts at improved conditions

4 YEARSWash-hire

6 YEARSSterilizat.

FOCUS ON^ITALIAN ^MARKET

In 2017, the Italian industrial laundry market registered in the healthcare wash-hire segment ^a total turnover equal to Euro⁷⁶⁵ million, divided by segment as follows:

SERVIZI ITALIA, even if it is mainly active in the North-Centre of Italy, has ^a market share of ²⁸%, which identifies it as absolute leader of the healthcare sector.

SERVIZI ITALIA's main customers are hospitals and relevant local districts, private clinics, emergency services etc. As of today SERVIZI ITALIA in Italy is managing more than 60,000beds.

NEWMARKETS

In the countries where it is active, Servizi Italia has found some interesting features in order to export its businessmodel.

• Fast growing markets looking for qualified operators in order to meet the high demand connected to wash-hire and sterilization activities, partly due to anincrease of the so-called medical tourism;
• High penetration rate in the market: only ^a few of wash-hire services are currently outsourced to private operators, both in public and private healthcare;
• Low competitiveness: average operators are small, with low self-financing capacity and inefficient management models.
• Old fashioned laundry plants, lacking of an industrial management model with real opportunity to make efficiency by exporting technical management of thebusiness models adopted by the Group.

FOCUS ON^BRAZILIAN MARKET

The SERVIZI ITALIA Group is present in Brazil, in the State of SaoPaulo, and it is considered as ^a landmark for both private andpublichealthcare.

At the moment SERVIZI ITALIA has ⁴ active plants on the Area of SaoPaulo.

All of them are technologically advanced and strategically positionedall over the area.

The Group counts in Brazil over 1,250employees.

From 2018-2019, the Group envisages the "green-field" constructionof ^a high tech industrial laundry production site aimed at providingwash-hire services for public and private healthcare facilities, in thecity of Manaus, in the State of Amazonas. This, with the strategicgoal of further consolidating the presence of the Group in newgeographical areas of Brazil.

Brazilian market is characterized by ^a high penetration rate: only the ⁴⁵% of wash-hire services is currently outsourced to private operators. The arrival of SERVIZI ITALIA in the country marked the start of ^a market consolidation process. Where in the past there were many small, family-run laundries, today there are two large industrial groups which effectively divide the industrial laundry market.

≈ 1,000 HEALTHCARE STRUCTURES COUNTING OVER 92,500 AVAILABLE BEDS* OVER 700,000 KG/DAY OF POTENTIAL LINEN ONLY IN THE ^AREA OF ^SAO ^PAULO WASH-HIRE POTENTIAL MARKET:≈ ^REAIS 840 MILLIONGOOD CROSS SELLING OPPORTUNITIES IN THE STERILIZATIONSERVICES

FOCUS ON^TURKISH MARKET

The SERVIZI ITALIA Group is present in Turkey with two different companies dealing with industrial laundry (ANKATEKS Group) and sterilization (SAS STERILIZASYONSERVISLERI).

ANKATEKS, main Turkish operator in hospital laundry sector, known as "Ankara Laundry" and active in the area of Ankara and – through thecontrolled company ERGULTEKS– in Izmir as well.

5 INDUSTRIAL LAUNDRY PLANTS which are technologically advanced and strategically positioned in the country (Ankara, Izmir and Mersin). The Group counts in Turkey over 300 employees. PPP

PROJECTS: local reforms will lead to the construction of new hospitals with publicprivate participation, which is estimated to increase the number of beds in the market up to about 250,000 over the next few years.

At the moment there is no predominant group in wash-hire and sterilization markets: some hospitals performthese services internally, while others rely on companies which offer cleaning and laundry services for other sectors.

FOCUS ON^INDIAN MARKET

Servizi Italia Group is present in India, in the area of NewDelhi, with the start-up ShubhramHospital Solutions P. Ltd.

The Indian market has recently started the outsourcingprocess of wash-hire andsterilization activities.

¹ technologically advanced laundry plant in Delhi NCR.

OVER 195,000 HEALTHCARE FACILITIES IN INDIAOVER90,000 BEDS IN DELHI NCR

OVER200,000,000 KG OF LINEN

FOCUS ON^ALBANIAN MARKET

TOTAL VALUE AWARDED:EURO⁷⁰MILLION

OVERALL DURATION OF CONTRACT10 YEARS

R INTERVENTIONS/YEAR:OVER50,000

Servizi Italia is present in the market with the ³⁰% participated company SaniService, which subscribed of ^a 10-year contract for sterilization, maintenance and renting of surgical instruments, as well as sterilization management of re-usable medical devices andsupply of disposable medical devices to all public and privatehospitals of the Republic of Albania.

FOCUS ON^MOROCCAN MARKET

Starting from 2017, Servizi Italia is present in Morocco through anindirect participation in the company Servizi Italia Marocco, beingthe first company active in offering sterilization services to Healthcare customers in the Country.

GROUP^VALUES

Focus on customers

Investing in research of tailor solutions to propose and carry out together with customers.

Efficiency research

Services are based on a process of industrial production subjected to frequent analysis, in order to production efficiency goals.

Values

The approach of SERVIZI Italia is toguarantee ^a high level of service tobenefit of patients and citizens, as beneficiaries of assistance and healthservices.

Organizational solidity and reliability

Servizi Italia is a deep-rooted company, with a wideproduction network.

Product and processinnovation

Backed by a strong cooperation with research centers and international university centers.

Safetyand transparency

Guaranteed by the traceability of products and the quality system certification process.

Integrity, business ethicsand Professionalism

Promotion of business ethics, prevention of corruption and protection of reputation. Enhance skills and talents, attracting the best resources.

Internationalization

Being a multinational company for organization,culture, modes of presence and respect in global markets.

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^S ha ring Transparency Responsibility AwarenessConsistencySustainability

STRATEGIC^GROWTH ^GUIDELINES

1. LEADERSHIP ^CONSOLIDATIONWHERE ^PRESENT

• •Awarding of contracts and cross-selling opportunities.
• •Customer retention activities.
• •Acquisition of target companies.

2. SERVICES ^DIVERSIFICATIONAND ^SUSTAINABLE ^GROWTH

• • Sterilization of medical devices and services related tosterilization.
• •Equipment validation services for sterilization.
• •Anti-decubitus device supplies.
• • Provision of wash-hire services for retirement homes andwork clothes.
• •Environmental declaration of products and services.

3. INTERNATIONAL^DEVELOPMENT

• • Development and consolidation of the business model in Brazil and in Turkey.
• • Development and growth in other geographical areas where the group's presence is still low (Albania, India, Morocco).
• • Identification of further opportunities for international development in New Markets or strengthening of the areas already covered.

4. MANAGEMENTOPTIMIZATION

• •Rationalization of positions.
• • Organizational and management efficiency in order tomaintain the levels of profitability and margins of thebusiness.12

MAINDETAILS ON ^STOCK ^EXCHANGE

De ta ls S ha ( da ta t 1 0 / 0 5 / 2 0 1 8 ) i on re s a s a
S Ca ha ta l i re p	3 1, 8 0 9, 4 5 1
S ha ic re p r e	€ 5, 5 0
Ca ta l t i iz io p a n	€ ln 1 7 4, 9 5 m

An ly t a s co ve ra g e	Re da t io cc om en n	Ta Pr t ic rg e e ( ) eu ro	Da te
S In te te I M rm on	O tp fo u er rm	7, 5 0	2 6- M -1 8 ar
M dc Pa tn i ap r er s	Bu y	7, 4 0	1 4- M -1 8 ar

59,4%10,1%5,9%24,7%AurumSTERISOthersKabouterMgmt

RELEVANT SHAREHOLDERS

Source Consob. Updated as at 10,05,,2018

ECONOMIC& FINANCIALS ^DATA

ECONOMICS – ^CONSOLIDATED^RESULTS

( E T h d ) u r o o u s a n	2 0 1 7 A	2 0 1 6 A	C h %	Q 1 2 0 1 8	Q 1 2 0 1 7	C h %
R e v e n u e s	2 5 2 1 0 2	2 3 7 7 1 6	% 6, 1	6 2 9 7 3	6 2 9 1 2	% 0, 1
E B I T D A	6 9 8 2 9	6 4 0 2 2	9, 1 %	1 7 0 3 3	1 7 7 2 0	3, 9 % -
E B I T D A H	% 2 7, 7	% 2 6, 9		% 2 7, 0	% 2 8, 2
E B I T	1 6 3 7 6	1 3 7 4 5	1 9, 1 %	4 5 9 9	4 3 4 3	9 % 5,
E B I T H	% 6, 5	% 5, 8		% 7, 3	% 6, 9
N t P f t i e r o	1 4 3 6 5	1 0 5 1 5	3 6, 6 %	3 5 4 2	4 1 3 6	1 4, 4 % -
N t P f t i e o r	% 5, 7	% 4, 4		% 5, 6	% 6, 6

ECONOMICS – ^CONSOLIDATED^RESULTS ²⁰¹⁷

%RESULTS: EBITDA, EBIT AND NET INCOME

16

ECONOMICSPER ^BUSINESS ^LINE

MAINFINANCIAL RESULTS

( Eu ho d ) t ro us an	1 Q 2 0 1 8	F Y 2 0 1 7	1 Q 2 0 1 7
Op t t w k ta l ing ing i er a n e or c ap	1 0. 6 2 6	1 0. 9 3 4	1 5. 1 5 1
O he ho / l b l t t- te ts t ia i i ies r s r rm a ss e	( 8. 3 6 6 )	( 1 2. 0 0 0 )	( 1 0. 6 9 1 )
Ne t w k ta l in i or g ca p	2. 2 6 0	( 1. 0 6 6 )	4. 4 6 0
F d ts Me d / Lo te ixe iu as se m ng rm – is io p ro v ns	2 1 9. 4 5 1	2 1 8. 3 5 3	2 1 8. 3 2 0
In te d ta l i ve s ca p	2 2 1. 7 1 1	2 1 7. 2 8 7	2 2 2. 7 8 0
S ha ho l de ' Eq ty ( B ) i re rs u	1 4 2. 5 9 8	1 4 1. 6 3 9	1 4 2. 5 3 6
Ne t f l de b t ( A ) ina ia nc	7 9. 1 1 3	7 5. 6 4 8	8 0. 2 4 4
In d l ( C ) te ta i ve s ca p	2 2 1. 7 1 1	2 1 7. 2 8 7	2 2 2. 7 8 0
Ge ( A / A+ B ) in ar g	3 5, 7 %	3 4, 8 %	3 6. 0 %
De b t / Eq ty ( A / B ) i u	5 5, 5 %	5 3, 4 %	5 6. 2 %

HISTORICAL NET DEBT (mln euro)

CREDIT LINES 1Q2018 (mln euro)

NET DEBT / EQUITY (mln euro)

GENERATION OF CASHFLOW

Even in presence of ^a capital intensive business, Servizi Italia is able to generate important positive cashlows fromits operativeactivity.

During the last few years, the management decided to invest its resources into structural investments, for consolidatingits leadership position and for ^a constant growth and improvement of Group perfomance.

Net of operating investments, Servizi Italia generated cash over Euro ²¹⁰ million from²⁰⁰⁶ to 2017.

DISCLAIMER

This presentation has been prepared by Servizi Italia S.p.A. ("Servizi Italia" or the "Company") and must be read in conjunction with its oral presentation.

The information contained in this presentation does not purport to be comprehensive. Neither Servizi Italia S.p.A. nor any of its officers, employees, advisers or agents accepts any responsibility for/or makes any representation or warranty, express or implied, as to the truthfulness, accuracy or completeness of theinformation contained in this presentation or any other information relating to Servizi Italia S.p.A., its subsidiaries or associated companies, whether written, oral or in ^a visual or electronic form, transmitted or otherwise made available.

The information contained in this presentation must be treated as highly confidential and cannot be distributed without the expressed written consent of Servizi Italia S.p.A.

This document is confidential and is being provided to you solely for your information and may not be reproduced, further distributed to any other person or published, in whole or in part, for any purpose. Neither this document nor any part or copy of it may be taken or transmitted into the United States (US) or distributed, directly or indirectly, in the US or to any "US person", as that term is defined in the US Securities Act of 1933, as amended (the "Securities Act"). Neither this document nor any part or copy of it may be taken or transmitted into Australia, Canada or Japan or to any resident thereof, or distributed directly or indirectlyin Australia, Canada or Japan or to any resident thereof. Any failure to comply with this restriction may constitute ^a violation of US, Australian, Canadian or Japanesesecurities laws. The distribution of this document in other jurisdictions may be restricted by law, and persons into whose possession this document comes shouldinform themselves about, and observe, any such restrictions.

This document does not constitute or form part of any offer to sell or issue or invitation to purchase or subscribe for, or any solicitation of any offer to purchase or subscribe for, any securities of the Company, nor shall it or any part of it nor the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision.

No reliance may be placed for any purposes whatsoever on the information or opinions contained in this document or any other material discussed at thepresentation, or on its completeness, accuracy or fairness.

The information in this document and any other material discussed at the presentation are provided as at the date of this presentation and is subject to completionand change without notice.

By attending the presentation you agree to be bound by the foregoing terms.

Servizi Italia S.p.A.

Via S. Pietro, 59/b43019 Castellina di Soragna (PR) ItalyTel.+39 0524 598511 - Fax+39 0524 598232 Share capital: Euro 31,809,451 fully paid-upFounded: 1986 Tax ID Number and Parma Business Registry Code: 08531760158Market: MTA – STAR segment

Sector: IndustrialISIN code for ordinary shares: IT 0003814537 Reuters: SRI.MI --- Bloomberg: SRI IMSpecialist: Intermonte SIMInvestor Relations Department: Giovanni Manti (IR), Innocenti Luigi Email: investor@si-servizitalia.comweb site: www.si-servizitalia.com