Webuild — M&A Activity 2020

Nov 6, 2020

PRESS RELEASE

WEBUILD SUCCESSFULLY COMPLETES ACQUISITION OF ASTALDI VIA CAPITAL INCREASE

• Progetto Italia: New group to have more than 70,000 direct, indirect employees in 50 countries, order backlog of more than €40 billion
• The Group to continue to support relaunch of infrastructure sector in Italy along with supply chain of small- and medium-sized businesses, 5,000 of which work with Webuild on five main projects in Italy
• Progetto Italia developed with support from CDP Equity, Intesa Sanpaolo, UniCredit, Banco BPM and institutional investors
• Group at work on new three-year Business Plan

MILAN, November 6, 2020 – Webuild announces the completion of its acquisition of 65% of Astaldi, the most important acquisition conducted under Progetto Italia (Project Italy). It leads to the creation of a new Group specialized in large infrastructure projects in sustainable mobility, hydropower, water and green buildings. The Group will be a leader in the Italian market and rank among the leading players of the sector worldwide with an order backlog of more than €40 billion.

In addition to giving the Webuild Group greater scale, the acquisition will bring together an array of innovative technical and engineering expertise, developed on nearly 100 work sites throughout the world. It will expand the Group's geographic footprint to allow it to act quickly on the investment programmes promoted by national governments for large, strategic infrastructure projects and to contribute in the advancement of the Sustainable Development Goals (SDGs) set by the United Nations, and to the fight against climate change.

The Group to be created by the joining of Italy's two biggest players in the infrastructure sector will have deeper roots in its home market, where it will play an important role in helping revive the sector in Italy and the world. In 2020, the Group contributed to relaunching strategic projects worth more than €3.6 billion, such as the Verona-Padua high-speed railway, the Ionian motorway and the railway hub in Genoa. With the acquisition, it will guarantee that work on strategic projects for clients and communities alike in Italy and abroad that involve Astaldi will continue, safeguarding jobs. These projects include Line 4 of the metro network in Milan, the Naples-Bari high-speed railway and the Hurontario light rail transit near Toronto.

With the acquisition of Astaldi, the new Group will have approximately 70,000 direct and indirect employees at a time when employment is a priority for countries, especially Italy. With a workforce representing more than 100 nationalities, the Group confirms diversity as one of the pillars of its business development.

The operation was completed by means of a capital increase by Astaldi equal to €225 million in cash and reserved for Webuild. The proceeds raised will finance Astaldi as an ongoing concern and will also pay off privileged and pre-deductible creditors. Webuild financed its participation with cash raised from a capital increase in November 2019 that was entirely subscribed and paid-in by Salini Costruttori, CDP Equity, Banco BPM, Intesa Sanpaolo, UniCredit and other institutional investors.

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Webuild, the new group born in 2020 from Salini Impregilo, is a leading global player in the construction of large, complex projects for sustainable mobility, clean hydro energy, clean water, green buildings, supporting clients in achieving sustainable development goals (SDGs). The Group is the expression of 114 years of engineering experience applied in 50 countries on five continents with 70,000 direct and indirect employees from more than 100 nationalities. Recognized for five years by Engineering News-Record (ENR) as the world leader in water infrastructure (such as dams, hydraulic tunnels, water and wastewater management, and water treatment and desalination plants), it ranks since 2018 among the top 10 in the environment sector and it is also leader in sustainable mobility (especially metro and rail lines, in addition to roads and bridges). A signatory of the United Nations Global Compact, the Group's expertise is displayed in projects such as the M4 metro line in Milan, Grand Paris Express, Cityringen in Copenhagen, Sydney Metro Northwest, Red Line North Underground in Doha, Line 3 of the Riyadh Metro and the high-speed railways in Italy. Other projects include the new Genoa Bridge and the new Gerald Desmond Bridge in Long Beach, California, the expansion of the Panama Canal, the Snowy 2.0 hydroelectric power station in Australia, the Rogun hydroelectric dam in Tajikistan, the Anacostia River and Northeast Boundary tunnels in Washington, D.C. and the Al Bayt 2022 World Cup stadium in Qatar. In 2019, new orders totalled €8.1 billion, with a total backlog reaching €36.2 billion. Some 85% of the backlog for construction orders involves projects tied to the sustainable development goals of the United Nations (SDGs), while 60% concerns the reduction of greenhouse emissions. Webuild, subject to direction and coordination by Salini Costruttori SpA, is headquartered in Italy and is listed on the Milan Stock Exchange (Borsa Italiana: WBD; Reuters: WBD.MI; Bloomberg: WBD:IM).).

More information at www.webuildgroup.com

Contacts: Media Relations Investor Relations Gilles Castonguay Amarilda Karaj Tel. +39 342 682 6321 Tel +39 340 360 4607 email: gr.castonguay@webuildgroup.com email: a.karaj@webuildgroup.com