PRESS RELEASE

Good business performance

negatively impacted by a strong euro

Aliaxis S.A. 2014 Half Year Results

Brussels, September 12, 2014

Aliaxis, a leading global manufacturer and distributor of plastic fluid handling systems, released its 2014 half year results today.

Yves Mertens, Chief Executive Officer, commented: “We are pleased with the results for the period despite tough market conditions and the strong euro. In addition, in August we completed the acquisition of Vinidex in Australia. This marks a major milestone in our global development and geographical diversification.”

The unaudited interim financial information for the first half of 2014 was presented to the Board of Directors on September 9

th, 2014.

Highlights

Revenue of € 1.25 billion in the first half of 2014: sales growth1 of 4.8% on a like-for-like

2 basis,

offset by strong negative currency effect of € - 72 million (-6.0%)

Current EBITDA3 of € 156 million (12.5% margin on sales)

Current EBIT4 of € 113 million (9.0% margin on sales)

Operating income (EBIT) of € 107 million, up +0.8% on a like-for-like basis, but severely impacted

by a negative currency effect of € - 8 million (-7.2%)

Group’s net profit of € 61 million, compared to € 69 million1

Acquisition of Vinidex in Australia, closed on August 1st, marks an important milestone in the

development of Aliaxis in Australasia and a strengthening of the Group’s geographical

diversification

Trading review

Aliaxis performed well across its global footprint in the first half of 2014.

At the beginning of the year, the Group reorganized into six divisions (EMEA, North America, Latin America, Asia, Australasia and Aliaxis Utilities & Industries), supported by six central functions.

In Europe, Aliaxis improved its results in the first half of the year despite a difficult economic environment, supported by favourable weather conditions in the first quarter. In Germany, the Group is embarking on a major upgrade to its logistics platform in Friatec Technical Plastics.

1 All comparisons are made relative to the First Half of 2013, except where stated differently

2 Like-for-like being at constant exchange rate and excluding the impact of changes in scope of consolidation

3 Current EBITDA being EBITDA before non-recurring items

4 Current EBIT being profit from operations (EBIT) before non-recurring items

Aliaxis S.A. - Half Year results 2014 - 2/4

Results from North America manufacturing were impacted by the bad weather in the first quarter; however, some catch up was evident in the second quarter. The substantial investments underway in Western Canada to increase production capacity for new products and extend the product range are progressing to plan. The industrial distribution business in the US performed well. The recent acquisition of E&S Technologies – a premier distributor of high purity gas, fluid handling and clean room products – extends Aliaxis’ geographic and product reach in the US.

Aliaxis significantly improved its overall performance in Latin America. Some markets were impacted by a slowdown in demand from the mining industry. The Group has purchased a new manufacturing facility in Uruguay and will transfer from its existing rented site in early 2015.

In Asia, the Group performed very well. In India, the foundation stone was laid in June for the new Ashirvad Technology and Experience Center in Bangalore during a visit by the Aliaxis S.A. Board of Directors. Capital expenditure remained at a high level in order to meet strong market growth and underpin new product introductions.

Australasia was again a consistent performer. The recent acquisition of Vinidex was closed on August 1

st. As a result, Aliaxis’ revenues are expected to increase by approximately € 340 million on an

annual basis. Australasia will now represent around one fifth of the Group’s global sales.

Financial review

Revenue from sales in the first half of 2014 reached € 1,252 million, up 4.8% on a like-for-like basis. This, however, was offset by strong negative currency effect of € - 72 million (- 6.0%), caused by the further strengthening of the euro against currencies of many countries in which the Group operates. Sales were therefore down 1.2% on a reported basis. There were no material changes in the scope of consolidation.

The Group’s operating income (EBIT) amounted to € 107 million, an increase of + 0.8% on a like-for-like basis, but EBIT was severely impacted by a negative currency effect of € - 8 million (- 7.2%). So EBIT was down - 6.4%. EBIT margin on sales was 8.5%.

EBIT included € 7 million non-recurring items, mainly related to industrial reorganization projects. Current EBITDA amounted to € 156 million (12.5% margin on sales) and current EBIT was € 113 million (9.0% margin on sales). The Group’s net profit totaled € 61 million.

Outlook

The challenges across the different regions will remain, as individual markets and sectors are developing at their own pace.

In Europe, the economic environment will remain weak. In North America, markets in the US are expected to perform well while in Canada housing starts will slow.

In Latin America markets will remain very competitive, while Asia, and in particular India are expected to deliver growth as a result of improving economic confidence and new products.

In Australasia Vinidex will be included in the Group’s results from August 1.

Overall Aliaxis expects that the full year will match the level of 2013 on a like-for-like basis.

Aliaxis S.A. - Half Year results 2014 - 3/4

Condensed Interim Consolidated Statement of Comprehensive Income

(in € million) 1HY2013 1HY2014 Change1

Change1

(like for like)2

FY2013

Sales 1,267 1,252 -1.2% +4.8% 2,507

Current EBITDA3 164

5 156 -4.7% 304

as % on sales 12.9% 12.5% 12.1%

Current EBIT4 118

5 113 -4.2% 215

as % on sales 9.3% 9.0% 8.6%

Operating income (EBIT) 114 107 -6.4% +0.8% 194

as % on sales 9.0% 8.5% 7.7%

Profit before income taxes 96 91 -5.3% 164

Net Result 69 61 -11.5% 112

attributable to:

- non controlling interests 3 0 4

- Group equity holders 66 61 108

1 Comparisons are made relative to the First Half of 2013

2 Like-for-like being at constant exchange rate and excluding the impact of changes in scope of consolidation

3 Current EBITDA being EBITDA before non-recurring items

4 Current EBIT being profit from operations (EBIT) before non-recurring items

5 Includes reclassification of non-recurring items in line with Annual Report 2013

Earnings per share

(in €) 1HY2013 1HY2014 FY2013

Basic earnings per share 0.82 0.76 1.35

Aliaxis S.A. - Half Year results 2014 - 4/4

Summary of consolidated financial position

(in € million) 30 June 2013 31 Dec 2013 30 June 2014

Intangible assets 781 738 748

Property, Plant and Equipment 650 675 689

Non-current Investments 15 15 13

Deferred Tax Assets 19 22 22

Employee Benefits 10 33 36

Derivatives 26 13 18

Other non-current assets 26 22 22

Total non-current assets 1,527 1,518 1,548

Non-cash working capital 612 444 593

TOTAL 2,139 1,962 2,141

Equity (attributable to the Group) 1,288 1,265 1,328

Non-controlling interests 57 52 54

Total Equity 1,345 1,317 1,382

Deferred Tax Liabilities 77 78 79

Employee Benefits 75 72 76

Derivatives 18 12 17

Other non- current liabilities 117 109 116

Net Financial Debt 507 374 471

TOTAL 2,139 1,962 2,141

About Aliaxis

Aliaxis is a leading global manufacturer and distributor of primarily plastic fluid handling systems, generating € 2.85 billion in annual sales

5.

Present in over 40 countries with more than 100 manufacturing and commercial entities, the Group totals 16,300 employees around the globe, serving customers in residential and commercial construction, as well as in industrial and public infrastructure applications. Aliaxis’ well-known brands such as Ashirvad, Durman, Friatec, IPEX, Marley, Nicoll and Vinidex have a strong identity and are firmly established in the geographic markets they serve. Thanks to the entrepreneurial spirit of its people, balanced with the strengths, knowhow and international reach of the Group, Aliaxis continues to develop and improve its positions in key construction applications throughout the world. More on www.aliaxis.com

Contact Françoise VANTHEMSCHE

Group Communications Director

+32 2 775 50 50 – communications@aliaxis.com

Aliaxis S.A. – Avenue de Tervueren 270 – 1150 Bruxelles

5 Annualized sales after Vinidex acquisition (pro forma)