2016 First Quarter Results Ended 31st March 2016

CONFERENCE CALL Cesena,16 May 2016

1. TREVI Group

2. 1Q 2016 Financial Results

3. Q&A

4. Appendix

2

3

Special foundation services

€144,2m

Oil drilling rigs

€54,4m

Oil drilling services

€26,3m

Special foundation rigs

€53,3m

1Q16 Revenues

4

Special foundation services

€144,2m

Geotechnical Works

Marine Works Deep Foundations Tunnel Consolidation

Environment

1Q16 Revenues

5

Special foundation rigs

€53,3 mln

1Q16 Revenues

6

Oil drilling rigs

€54,4m Land Rigs

Hydraulic Drilling Rigs

Mud Pumps

Drawworks Top Drives

AHEAD Rigs Modular Offshore

Conventional Packages

1Q16 Revenues

7

Oil drilling services

€26,3m

CILE:

1 RIG HH220

1 RIG HH102

2 WO HH102

VENEZUELA:

1 RIG HH200

1 RIG HH300

ARGENTINA:

7 RIGS HH102

2 RIGS HH220

PERU’:

1 RIGS HH102

COLOMBIA:

1 RIGS HH220

1Q16 Revenues

8

Foundations Sector

9

Oil & Gas Sector

1. TREVI Group

2. 1Q 2016 Financial Results

3. Q&A

4. Appendix

10

11

Financial Highlights

Revenues

€265m Ebitda

€36m

Ebit

€19m

Backlog

€1.080m

Net Result

€-8m

Net Financial Position

€533m

12

• Very strong order intake in the first quarter;

• Trevi Division hard backlog represents 75% of total; it increased to 803 million

Euros from 541;

• The quality of hard backlog is represented by higher than in recent past

implicit margins;

• Good level of operating margins achieved in 1Q16;

• Positive trends in international construction markets and in particular in

infrastructure sector;

• More than 5% QoQ increase in revenue, notwithstanding a still weak domestic

market;

Group’s Divisions Overlook

• Revenue at constant levels because of seasonality;

• Strong improvement in margins, due to better market conditions and higher

efficiency in production process;

• Positive feedback from international clients in Bauma Exhibition, the largest

event in the Industry;

• High Technology new line of products introduced at the Bauma Exhibition are

expected to generate increased volume of sales and margins;

• Investment in HIT products is securing new markets segments and major

opportunities;

13

Group’s Divisions Overlook

• Continued strong volatility and uncertainty in O&G. Price per barrel of petrol

(Brent) increased to more than 48 dollars from the minimum of 28 touched in

January (plus 71% in slightly more than 4 months);

• Negotiations in progress for supply of rigs in different geographic area

expected to be concluded in second half;

• QoQ 30% decrease in revenues due to market conditions;

• Drillmec is waging on a reorganization plan and cost cutting, started in

October 2015, which will bring major results in second quarter;

• Management is focused in improving after sales services, and is offering to

clients maintenance, training and engineering through medium terms

contracts to improve profitability of operating drilling rigs;

• Planned investments in R&D to develop HOD system;

• Management is focused on working capital decrease through better

management of credits

• A fewer number of rigs are currently operating

• Marginality challenged by more uncertain environment

• Negotiating contracts renewals to secure continuing operations

14

Financial Highlights 1Q16 yoy

Euro

Euro

1Q16 % 1Q15 % Δ%

VALUE OF PRODUCTION 286,1 309,7 -7,6%

REVENUES 264,6 100,0% 297,0 100,0% -10,9%

EBITDA 35,7 13,5% 21,3 7,2% 67,3%

EBIT 18,6 7,0% 5,0 1,7% 271,4%

FINANCIAL COSTS (6,5) -2,4% (5,6) -1,9% 14,9%

TAXES 0,2 0,1% 0,7 0,2% 75,4%

NET PROFIT (8,4) -3,2% 1,9 0,6% N/A

1Q16 1Q15 Δ%*

NET CAPITAL EMPLOYED 1.086,1 1.216,3 -10,7%

EQUITY 552,7 716,2 -22,8%

NET FINANCIAL POSITION 533,1 499,7 -6,7%

BACKLOG 1.080,3 1.121,1 -3,6%

1Q16 1Q15

NFP / EBITDA n/a 4,28X

NFP / EQUITY 0,96X 0,70X

1Q16 1Q15

EMPLOYEES 7.447 7.653

Eur mln 1Q16 1Q15 D%

Drilling Rigs (DRILLMEC) 54,4 79,8 -31,8%

Drilling Services (PETREVEN) 26,3 34,3 -23,4%

Interdivisional Adjustments and Eliminations (0,4) (0,5)

Sub-Total Oil & Gas Sector 80,3 113,6 -29,3%

Special Foundation Services (TREVI) 144,2 137,2 5,1%

Machines for Special Foundations (SOILMEC) 53,3 55,1 -3,4%

Interdivisional Adjustments and Eliminations (2,8) (4,0)

Sub-Total Foundation Sector 194,7 188,3 3,4%

Parent Company 6,7 6,0

Interdivisional Eliminations (17,1) (10,9)

TOTAL CONSOLIDATED REVENUES 264,6 297,0 -10,9%

15

Revenues Before and After Consolidation

16

One Group

Oil & Gas

29%

Core Business

71%

Reven

ues €

264,6

m

The Group Backlog

FY05 FY06 FY07 FY08 FY09 FY10

329 316432

701

483530

188321

277

408

298258

Foundation Division Drilling Division

Eu

r m

ln

Foundation Sector Oil & Gas Sector

FY05 FY06 FY07 FY08 FY09 FY10

329 316432

701

483530

188321

277

408

298258

Foundation Division Drilling Division

Eu

r m

ln

17

1.080,3

901,7

831,0 786,0

986,4 939,2

1.122,0 1.091,9

1.121,1

419,8

34,8 0,2

109,8

4,0 6,5

17,8 9,9

533,1

18

Net Financial Position

NFP 1Q16 NFP FY15 EBIT

+ D&A

Eu

r m

ln

NET

INVESTMENTS

INTERESTS EXCHANGE

DIFFERENCES OTHER

TAXES Δ WORKING

CAPITAL

FREE CASH FLOW

-79 mln Euro

19

Financial Ratios

Eu

r m

ln

1Q09 1Q10 1Q11 1Q12 1Q13 1Q14 1Q15 1Q16 1Q16

Euro mln

EQUITY NET FINANCIAL POSITION

Short Term Debt

Long Term Debt

20

Equity and Net Financial Position

269,6

357,7 344,1

434,8

716,2 *

552,7 *

428,9

473,3

533,1

*In

clu

de

s n

et

inc

rea

se in

ca

pit

al o

f €

19

2,9

m

The Group

361,5

401,2

517,8

554,2

493,4

9,2%

11,2%

13,3%

15,0%

11,6%

14,2%

16,2%

18,3%

24,7%

19,4%

7%

12%

17%

22%

27%

90

140

190

240

290

340

390

440

490

540

590

FY06 FY07 FY08 FY09 FY10

Ma

rg

in %

Eu

r m

ln

Revenues Ebit% Ebitda%

361,5

401,2

517,8

554,2

493,4

9,2%

11,2%

13,3%

15,0%

11,6%

14,2%

16,2%

18,3%

24,7%

19,4%

7%

12%

17%

22%

27%

90

140

190

240

290

340

390

440

490

540

590

FY06 FY07 FY08 FY09 FY10

Ma

rg

in %

Eu

r m

ln

Revenues Ebit% Ebitda%

361,5

401,2

517,8

554,2

493,4

9,2%

11,2%

13,3%

15,0%

11,6%

14,2%

16,2%

18,3%

24,7%

19,4%

7%

12%

17%

22%

27%

90

140

190

240

290

340

390

440

490

540

590

FY06 FY07 FY08 FY09 FY10

Ma

rg

in %

Eu

r m

ln

Revenues Ebit% Ebitda%

Based on non Consolidated Data

Foundations Sector

21

188,3 194,7

The Group

Based on non Consolidated Data

361,5

401,2

517,8

554,2

493,4

9,2%

11,2%

13,3%

15,0%

11,6%

14,2%

16,2%

18,3%

24,7%

19,4%

7%

12%

17%

22%

27%

90

140

190

240

290

340

390

440

490

540

590

FY06 FY07 FY08 FY09 FY10

Ma

rg

in %

Eu

r m

ln

Revenues Ebit% Ebitda%

361,5

401,2

517,8

554,2

493,4

9,2%

11,2%

13,3%

15,0%

11,6%

14,2%

16,2%

18,3%

24,7%

19,4%

7%

12%

17%

22%

27%

90

140

190

240

290

340

390

440

490

540

590

FY06 FY07 FY08 FY09 FY10

Ma

rg

in %

Eu

r m

ln

Revenues Ebit% Ebitda%

361,5

401,2

517,8

554,2

493,4

9,2%

11,2%

13,3%

15,0%

11,6%

14,2%

16,2%

18,3%

24,7%

19,4%

7%

12%

17%

22%

27%

90

140

190

240

290

340

390

440

490

540

590

FY06 FY07 FY08 FY09 FY10

Ma

rg

in %

Eu

r m

ln

Revenues Ebit% Ebitda%

Oil & Gas Sector

22

113,6

80,3

The Group Breakdown per Geographical Area

23

24

MOSUL DAM

• €273 million contract value

• Contract assigned by: Iraqi Ministry of

Water Resources (MWR)

• The award follows an international

tender issued in October 2015, which

followed an expedited process

• Technologies: Advanced and

customized drilling and cement

grouting activities for the

consolidation of the foundations of the

dam.

25

MOSUL DAM

• Other activities include: repair and

maintenance of the bottom outlet

tunnels will also take place as they

are currently damaged

• Specialized courses and training for

technicians and local staff for the use

of Soilmec (TREVI Group) drilling rigs

will also commence

• The presence of the Italian military

forces, will ensure the safety of the

more than 450 technicians and staff

of TREVI

26

Galata, Cruise Terminal,

Istanbul

27

Brookfield Project,

Dubai

(Norman Foster)

28

Metro Algeri

29

Bauma 2016

30

Bauma 2016

31

Bauma 2016

32

First well for SOCAR

The Drillmec HH300 rig has completed

the works on the construction of the first

well on platform. All works have been

completed ahead of schedule.

P32

33

ORDERS IN THE OIL & GAS

SECTOR TOTALING ABOUT

280 MILLION USD

Five 2000hp AC rigs and two 3000HP rigs with

ENAFOR, an Algerian leading drilling services

company and acting on behalf of

SONATRACH, the national oil company and

largest African operator.

Two rigs of 2000hp AC HSL (Hydraulic Swing

Lift) with one of the largest drilling contractors

operating in Saudi Arabia. The Saudi company

has operated for more than 50 years in the

industry and has an important role in the

expansion program of Saudi Aramco, the

leading oil company in the country and world

leader in proven reserves.

34

Drilling activities in the

Andes (Geothermal)

On November 1st 2015 the drilling rig of

Drillmec H-202 Extreme started drilling

activities at the Cerro Pabellon well at 4,550

meters above the sea level.

1. TREVI Group

2. 1Q 2016 Financial Results

3. Q&A

4. Appendix

35

36

Income Statement 1Q16 vs 1Q15

Eur 000 1Q16 1Q15

TOTAL REVENUES 264.636 297.009

Changes in inventories of finished and semi-finished products 19.407 7.385

Increase in fixed assets for internal use 2.037 5.311

Other non-ordinary operating revenues 0 0

VALUE OF PRODUCTION 286.081 309.704

Raw materials and external services 186.544 222.484

Other operating costs 3.599 3.114

VALUE ADDED 95.938 84.106

Personnel expenses 60.244 62.771

EBITDA 35.694 21.336

% Total Revenues 13,5% 7,2%

Depreciation 16.222 15.205

Provisions and write-downs 871 1.122

EBIT 18.601 5.008

% Total Revenues 7,0% 1,7%

Financial revenues/(expenses) (6.479) (5.638)

Gains/(Losses) on exchange rates (17.827) 3.567

Other Gains/(Losses) () ()

EBT (5.705) 2.937

Tax 181 734

Minorities 2.482 320

GROUP NET PROFIT (8.369) 1.883

37

Statement of Financial Position 1Q16 vs 1Q15

Eur 000 1Q16 1Q15 D%

Fixed assets

- Tangible fixed assets 379.122 406.533

- Intangible fixed assets 82.952 86.116

- Financial fixed assets 5.729 9.157

Net working capital

- Inventories 505.326 809.424

- Trade receivables 479.538 458.907

- Trade payables (-) (289.332) (289.937)

- Pre-payments (-) (138.881) (309.827)

- Other assets (liabilities) 81.379 67.163

Fixed assets plus net working capital 1.105.832 1.237.535 -10,6%

Post-employment benefits (-) (19.693) (21.271)

NET INVESTED CAPITAL 1.086.139 1.216.264 -10,7%

Financed by:

Group net shareholders' funds 538.804 699.705

Minorities' share of net shareholders' funds 13.885 16.456

Total financial indebtedness 533.450 500.103

TOTAL SOURCES OF FINANCING 1.086.139 1.216.264 -10,7%

1. TREVI Group

2. 1Q 2016 Financial Results

3. Q&A

4. Appendix

38

39

The Group

172 Dams worldwide

1st Oil & Gas Rig

manufacturer in

Europe

>62 Marine Projects in the

world

>50 Metros in

world

• Ownership*: 51%

• Market: 49%

• Established: 1957

• Listed: 1999

• Value Proposition:

Fully integrated Special

Foundation Services and Oil &

Gas Company

6 Main projects

US Army Corps

Company Facts

*Includes FSI

40

The Group

52 Companies

38 Countries

69 Business Units

Divisions:

Special

Foundations

Oil & Gas

Synergies

Innovation

Advantage

FY 2015 Results

Revenues €1,342m

Ebitda €9m

Ebit €-88m

NFP €420m

FY 2015 KPI

Added Value €273m

Backlog €949,4m

Employees 7,867

41

Track Record of Growth and Excellence Revenues

The Executive in charge of the preparation of accounting documents “Daniele Forti” declares, pursuant to paragraph 2 of article 154-bis of the consolidated law on finance, that the accounting information contained in this presentation corresponds to the document results, books and accounting records. This presentation, prepared by TREVI – Finanziaria Industriale SpA, contains forward looking information and statements about the group and in no case may it be interpreted as an offer or an invitation to sell or purchase any security issued by the company or its subsidiaries. These statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations to future operations, products and services, and statements regarding future performance. Forward looking statements involve inherent risks and uncertainties are current only at the date they are made. However, the management of TREVI – Finanziaria Industriale SpA believes that the expectations are reasonable, but, at the same time, points out to holders and investors that all the information and all the statements are subject to various risk and many of which are very difficult to predict and to control. TREVI – Finanziaria Industriale SpA does not undertake any obligation to update forward looking statements to reflect any changes in own expectations with regard thereto or any changes in events.

42

Disclaimer

Investor Relations Team:

investorrelations@trevifin.com