Revenues 12,924 12, % 18,176 Adj. EBITA (*) (29) (3,3)% 1,587 Adj. EBITA margin (*)

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1 Rome, 3 November 2010 Board of Directors approves third-quarter results to 30 September. Results in line with forecasts. Net profit at EUR 321 million. Growth in Q3 revenues and new orders. The results of the Finmeccanica Group for the first nine months of 2010 were broadly in line with those for the same period of 2009, and in certain cases were ahead of forecasts, confirming guidance for FY Revenues rose 2.2% to EUR 12,924 million, from EUR 12,640 million in the first nine months of Adjusted EBITA was EUR 856 million, versus EUR 885 million in 9M09. The adjusted EBITA margin was 6.6%. Net profit was EUR 321 million, versus EUR 364 million in the same period last year. Net debt was EUR 4,897 million, versus EUR 5,220 million at 30 September 2009 and EUR 3,070 million at 31 December This figure reflects normal seasonal changes in the production cycle and typical receipts. FOCF was a negative EUR 1,325 million, versus a negative EUR 1,286 million in 9M09. New orders totalled EUR 13,479 million, broadly in line with those for the same period of The improvement in Helicopters (supply of 12 AW101 to the Indian Air Force and upturn in the civil helicopters segment), in Defence and Security Electronics (order for the third tranche of the Eurofighter programme) and in Space partially offset the decline in other divisions. 9M M 2009 Abs. chg. Chg. % FY 2009 Revenues 12,924 12, % 18,176 Adj. EBITA (*) (29) (3,3)% 1,587 Adj. EBITA margin (*) 6.6% 7% (0.4) pp 8.7% Net profit (41) (11.8%) 718 Adjusted net profit (**) (41) (11.8%) 700 FOCF (1,325) (1,286) (39) (3%) 563 Net debt 4,897 5, (6.2%) 3,070 New orders 13,479 13,656 (177) (1.3%) 21,099 Order backlog 45,843 43,496 2, % 45,143 ROI 13.5% 16.7% (3.2) pp 16.7% EVA (****) (142) (78) (64) (81.8%) 290 Research and 1,345 1, % 1,982 development 43 Headcount 75,733 73,983 1, % 73,056 (*) Operating profit before: - any goodwill impairment; - amortisation of intangible assets valued as part of a business combination; - restructuring costs of major, defined plans - other extraordinary income and expenses, i.e. relating to particularly significant events unconnected with the ordinary operations of the company's core businesses. (**) excluding extraordinary operations. The order portfolio stood at EUR 45,843 million, a EUR 700 million increase versus EUR 45,143 million at 31 December 2009, and represents more than two and a half years of production. R&D costs stood at EUR 1,345 million, or 10% of revenues. Finmeccanica plays a leading role in the global aerospace and defence industry, and participates in some of the sector s biggest international programmes through its group companies and thanks to well-established alliances with European and US partners. A leader in the design and manufacture of helicopters, defence and security electronics, civil and military aircraft, aerostructures, satellites, space infrastructure and defence systems, Finmeccanica is Italy s leading high-tech company. It also boasts significant manufacturing assets and skills in the transport and energy sectors; it is listed on the Milan stock market and operates via a number of group companies and joint ventures. At 30 September 2010, the Finmeccanica Group had around 76,000 employees, including some 12,000 in the US, approximately 10,000 in the UK, nearly 4,000 in Poland, 3,700 in France and over 1,000 in Germany. As part of its drive to maintain and build on its technological excellence, the Finmeccanica Group spends 11% of its revenues on research and development.

2 CONSOLIDATED PROFIT AND LOSS ACCOUNT mil. 9M M 2009 Chg. y/y % 3Q Q 2009 Chg. y/y % Revenues 12,924 12,640 2% 4,234 4,154 2% Costs for purchases and personnel (11,586) (11,318) (3,809) (3,734) Depreciation and amortisation (411) (395) (135) (130) Other net operating revenues (costs) (71) (42) (22) (6) EBITA Adj (*) % % EBITA Adj (*) margin 6.60% 7.0% 6.3% 6.8% Non-recurring revenues (costs) Restructuring costs (24) (10) (8) (3) PPA amortisation (64) (61) (21) (23) EBIT % % EBIT margin 5.9% 6.4% 5.6% 6.2% Net finance income (costs) (222) (230) (36) (75) Income taxes (225) (220) (78) (59) Net profit before discontinued % % operations Profit of discontinued operations Net profit % % EPS (EUR) EPS of continuing operations (EUR) Group Minorities Basic Diluted Basic Diluted (*) Operating result before: -any impairment in goodwill; -amortisations of intangibles acquired under business combination; -reorganization costs that are a part of significant, defined plans; -other exceptional costs or income, i.e. connected to particularly significant events that are not related to the ordinary performance of the business. BREAKDOWN OF KEY FIGURES Before examining in detail the nine-month results to 30 September 2010, it is important to note that generally the results for the first three quarters of the financial year do not fully reflect the trend for the full year. Indeed, a significant portion of the year s activities are conducted in the fourth quarter, thanks also to the significant concentration of deliveries for subcontracting and co-production in this period. Revenues were at EUR 12,924 million to 30 September 2010, versus EUR 12,640 million in the same period of 2009, a 2.2% increase of EUR 284 million. The rise was mainly the result of higher production volumes in Helicopters (particularly for work on the AW139 and product support), in Defence and Security Electronics (for avionics and electro-optics activities) and in Aeronautics (for activities relating to the military segment and in particular the C27J and G222 transport aircraft). Revenues for the third quarter 2010 were EUR 4,234 million, a 2% increase versus the third quarter of 2009 (EUR 4,154 million). Adjusted EBITA was EUR 856 million at 30 September 2010, compared with EUR 885 million in the same period last year. Improvements were recorded in Helicopters, thanks to higher revenues and a different 2

3 production mix, and in Defence and Security Electronics, on the back of greater volumes and cost-cutting measures. The EUR 29 million year-on-year decline was mainly due to Aeronautics (which was affected by the different mix of ongoing programmes in the portfolio and the drop in production volumes in some plants) and Energy (due to lower production volumes). Adjusted EBITA for the third quarter 2010 was EUR 268 million versus EUR 284 million in the third quarter of The adjusted EBITA margin (ROS) was 6.6%, compared with 7% in 9M09. Net profit was EUR 321 million at 30 September 2010, compared with EUR 364 million in 9M09. The EUR 43 million decline was largely due to a drop in EBIT (EUR 46 million), as the improvement in financial charges was offset by a rise in taxes. Net profit for the third quarter 2010 was EUR 125 million, in line with the third quarter of 2009 (EUR 124 million). BALANCE SHEET mil Non-current assets 13,480 12,956 Non-current liabilities (2,680) (2,639) 10,800 10,317 Inventories 4,809 4,662 Trade receivables 9,883 8,481 Trade payables (12,680) (12,400) Working capital 2, Provisions for short-term risks and charges (595) (595) Other current net assets (liabilities) (591) (853) Net working capital 826 (705) Net invested capital 11,626 9,612 Capital and reserves attributable to equity holders of the Company 6,493 6,351 Minority interests Shareholders equity 6,729 6,549 Net debt (cash) 4,897 3,070 Net liabilities (assets) held for sale - (7) Free operating cash flow (FOCF) was a negative EUR 1,325 million (cash burn) at 30 September 2010, compared with a negative EUR 1,286 million at 30 September 2009, a decline of EUR 39 million. In seasonal terms, outgoings tend to be higher than receipts in the first nine months of a given year. In 9M10, investment in product development was concentrated in Aeronautics (approximately 34%), Defence and Security Electronics (26%) and Helicopters (around 19%). 3

4 CASH FLOW 9M 2010 mil. 9M 2009 Cash and cash equivalents at 1 January 2,630 2,297 Gross cash flow from operating activities 1,446 1,445 Changes in other operating assets and liabilities (849) (648) Funds From Operations (FFO) Changes in working capital (1,286) (1,483) Cash flow generated from (used in) operating activities (689) (686) Cash flow from ordinary investing activities (636) (600) Free operating cash flow (FOCF) (1,325) (1,286) Strategic operations (98) (168) Change in other financing activities 19 (24) Cash flow generated (used) by investment activities (715) (792) Dividends paid (257) (254) Cash flow from financing activities (134) (41) Cash flow generated (used) by financing activities (391) (295) Exchange gains/losses 25 (13) Cash and cash equivalents at 30 September Net debt was EUR 4,897 million at 30 September 2010, compared with EUR 3,070 million at 31 December 2009, a EUR 1,827 million increase, which confirms the normal interim trend in terms of receipts and payments, with outgoings higher than receipts and greater cash burn in operating activities in the first nine months. The figure includes negative FOCF (cash burn) of EUR 1,325 million and reflects the following transactions: payment of EUR 237 million relating to the ordinary dividend for 2009 distributed by the parent company to its shareholders; payment of EUR 20 million for minorities share of the 2009 ordinary dividend distributed by Group companies (of which EUR 19 million by Ansaldo STS) to shareholders; and the full effect on the Group s debt of the acquisition of Polish group PZL SWIDNIK, approximately EUR 115 million. This figure comprises the purchase price paid (EUR 77 million, net of cash acquired) and debt of EUR 38 million relating to the company and its subsidiaries at the time of consolidation. The debt figure was also affected by the appreciation of the US dollar against the euro at 30 September 2010, compared with end- 2009, especially in relation to the conversion of dollar-denominated net debt into euro. Net debt at 30 September 2010 (EUR 4,897 million) improved year-on-year from EUR 5,220 million at 30 September FINANCIAL POSITION mil Short-term financial payables 1, Medium/long-term financial payable 4,492 4,476 Cash and cash equivalents (860) (2,630) BANK DEBT AND BONDS 4,719 2,759 Securities (1) (11) Financial receivables from Group companies (51) (34) Other financial receivables (719) (763) FINANCIAL RECEIVABLES AND SECURITIES (771) (808) Financial payables to related parties Other short-term financial payables Other medium/long-term financial payables OTHER FINANCIAL PAYABLES 949 1,119 NET FINANCIAL DEBT (CASH) 4,897 3,070 4

5 New orders totalled EUR 13,479 million at 30 September 2009, a slight decline versus EUR 13,656 million in the first nine months of The sectors that recorded an improvement in business performance were: Helicopters, for the order relating to the supply of 12 AW101 helicopters to the Indian Air Force and the significant upturn in the civil segment; Defence and Security Electronics, for the order relating to the third tranche of the Eurofighter programme; and Space, due to an increased number of orders in the manufacturing and satellite service segments. This improvement partially offset the general decline in other divisions. Note that orders in 3Q10 totalled EUR 5,429 million, up 2% versus EUR 5,329 million in 3Q09. The order backlog stood at EUR 45,843 million at 30 September 2010, up EUR 700 million versus EUR 45,143 million at 31 December The increase is due to normal levels of order acquisition, and to the effects of the EUR/USD exchange rate at the end of the period on the conversion of accounts in foreign currency. The order backlog represents more than 2.5 years of production. Research and development costs were EUR 1,345 million, up EUR 43 million (+3.3%) from EUR 1,302 million in 9M09. R&D was focused on the three strategic pillars of Aeronautics (18% of the Group total), Defence and Security Electronics (38%) and Helicopters (21%). Headcount at 30 September 2010 was 75,733, compared with 73,056 at 31 December The increase of 2,677 is the combined effect of restructuring operations launched in certain sectors and the consolidation of Polish group PZL SWIDNIK. In geographical terms, around 56% of staff are located in Italy and around 44% are located abroad, mainly in the US (15.5%), the UK (12.9%), France (4.9%) and Poland (4.9%). NINE-MONTH HIGHLIGHTS AND SIGNIFICANT EVENTS SINCE THE END OF THE PERIOD On 29 January 2010, following approval from competition authorities, Finmeccanica completed the purchase of 87.67% of Polish group PZL-SWIDNIK, which manufactures helicopters and aerostructures. On 6 February 2010, AgustaWestland and Tata Sons, an Indian industrial group, signed definitive agreements for the creation of a joint venture in India for the final assembly of the AW119 helicopter. On 9 April 2010, at the Fifth Italian-French Dialogue Forum in Paris, Ansaldo Energia and its subsidiary Ansaldo Nucleare, Enel and EDF signed a memorandum of understanding to develop nuclear power in Italy. The aim of the agreement is to define areas of co-operation between Enel-EDF and Ansaldo Energia in developing and building at least four of the nuclear plants planned by ENEL and EDF for Italy, using EPR technology. On the same date, Ansaldo Energia and Areva signed a memorandum of understanding to develop an industrial partnership starting with existing Areva projects and then expanding into future Italian projects, as well as further projects planned in France and the UK. On 20 May 2010, the Board of Directors of Finmeccanica in line with its programme to optimise Group industrial assets in the Defence and Security Electronics, and Space sectors, previously announced at the shareholders' meeting of 30 April 2010 launched a rationalisation process intended to improve the business organisation and industrial performance of the companies involved. In particular, the organisational rationalisation involves a number of specific business lines, enabling the Group to take advantage of the technological synergies within its structure and to define clear responsibilities to end customers. The companies involved in the reorganisation are SELEX Sistemi Integrati, SELEX Galileo, Elsag Datamat and Telespazio. On 24 May 2010, Finmeccanica announced the signing of an agreement between AgustaWestland and Boeing for the US Navy s presidential helicopters programme, Marine One (VXX). Boeing has been awarded the usage rights to the intellectual property, data and production rights of AgustaWestland in order to use the AW101 platform to develop the configuration for the VXX Programme. AgustaWestland will thus play a role in developing the programme and have significant input into the design and production stages. On 22 June 2010, Russian Helicopters and AgustaWestland instituted a joint partnership to build a final assembly plant for the civil configuration of the AW139 helicopter in Russia. On 5 August 2010, AnsaldoBreda was awarded by Trenitalia the high-speed trains contract to supply 50 V300 Zefiro trains, as part of a temporary bidding consortium formed by AnsaldoBreda (with a 60% share in the programme) and the Canadian group Bombardier. The contract was signed on 30 September

6 FINANCIAL OPERATIONS In the first nine months of 2010, the Group carried out some important transactions, in both the bond and banking markets. Bond market In August 2010, Finmeccanica repaid the EUR 501 million bond issue (exchangeable for STM shares) at maturity. In February 2010, Finmeccanica had bought a portion of these bonds with a nominal value of approximately EUR 51 million. The purchase price was 99.40% of the nominal value of the bonds. The transaction meant that an equivalent amount of the associated debt could be cancelled. At 30 September 2010, the residual amount (USD 3 million) of the bond issue originally issued by DRS Technologies in 2003 was settled ahead of maturity (2013). Note too that a series of operations on rates are under way to convert part of the fixed rate exposure to variable rate, thereby minimising the overall cost of the loans in question. All the bonds issued by Finmeccanica Finance, DRS and Meccanica Holdings are irrevocably and unconditionally guaranteed by Finmeccanica, and are awarded medium-term financial credit ratings by the ratings agencies Moody s Investor Service, Standard and Poor s and Fitch. As of today's date, these credit ratings are A3 (Moody s), BBB+ (Fitch) and BBB (Standard and Poor s). Banking market In the first quarter of 2010, Finmeccanica sold on the market an option relating to the earn-out mechanism still in its possession resulting from the agreement signed with Cassa Depositi e Prestiti for the sale of its stake in STM, which took place at the end of This transaction generated a total of approximately EUR 8 million, with additional income of EUR 1 million compared with that recorded as fair value as of 31 December 2009, and with the effect of neutralising any further change in fair value. In August, Finmeccanica utilised a loan underwritten by the European Investment Bank in 2009, for a total amount of EUR 500 million. In September 2010, Finmeccanica successfully concluded the operation to extend to 2015 the duration of its confirmed short-term credit lines in existence with expiry dates up to the end of On 21 September 2010, Finmeccanica signed a new revolving credit facility with a pool of leading Italian and international banks. The EUR 2,400 million facility may be drawn down at months, and expires on 21 September The conditions of the credit line stipulate payment of a spread of 75 basis points per year above Euribor, to be increased to 95 bp and 115 bp when the drawdown exceeds 33% or 66% respectively of the nominal value of the credit line, as well as payment of the usual fees. The line represents an important source of cash in the medium term, and thanks to its size and revolving arrangement, meets the Group s working capital financing needs, mainly in relation to the seasonal nature of receipts. With the signing of the new contract, the following were cancelled ahead of maturity: the EUR 1,200 million medium-term revolving credit line signed in 2004 with a pool of Italian and international banks (expiring 2012); the EUR 639 million revolving credit facility taken out in February 2010, resulting from the conversion of the remaining portion of the Senior Term Loan Facility (tranche C), stipulated at the time of the purchase of DRS Technologies (expiring June 2011); all confirmed bilateral credit lines in existence when the agreement for the new line was signed (with a total value of EUR 670 million), except one line worth EUR 50 million, expiring at the end of

7 OUTLOOK The Finmeccanica Group s results for the first nine months of 2010 were in line with those recorded in the same period of 2009, and in certain cases were better than forecasted, thereby confirming full-year guidance for The continuing pursuit of efficiency in production, the execution of contracts and the achievement of planned performance are fundamental objectives to ensuring that the Group s solid financial structure is maintained. The order backlog is sufficient to cover a large portion (over 95%) of expected production in the last three months of the year. To date, no information has emerged that could require adjustments to the Group s FY 2010 forecasts: the Group therefore forecasts revenues of between EUR 17.8 billion and EUR 18.6 billion and adjusted EBITA of between EUR 1,520 million and EUR 1,600 million. Lastly, the Group s free operating cash flow is expected to be positive by about EUR 200 million, after significant investment in the development of products necessary to sustain growth. As in 2009, this investment is focused in particular on Helicopters, Aeronautics and Defence and Security Electronics. SHARE DATA 9M M 2009 Chg. y/y % Average number of shares in period (thousands) % Net result (not including minority interests) ( mil.) Result of continuing operations (not including minority interests) ( mil.) BASIC EPS (EUR) % Basic EPS from continuing operations % Average number of shares for the period (in thousands) % Result adjusted (not including minority interests) ( mil.) Adjusted result of continuing operations (not including minority interests) ( mil.) DILUTED EPS (EUR) % Diluted EPS from continuing operations % 7

8 CHANGES TO ARTICLES OF ASSOCIATION The Board of Directors of the Company voted to make a number of changes to the articles of association, pursuant to the provisions introduced by Legislative Decree 27/2010, which incorporated the EC Directive on the exercise of the rights of shareholders of listed companies. The changes approved follow the process of amendments to the articles of association already initiated by the Extraordinary Shareholders Meeting of 30 April 2010, and as well as certain formal adjustments to the new legislation concern in particular: legitimisation regarding participation at shareholders meetings and exercise of voting rights; representation at shareholders meetings; conferment of voting proxies electronically and methods of electronic notification of shareholder meeting proxy; and procedures and terms and conditions for the filing and publication of lists for appointments to management bodies. 8

9 PERFORMANCE BY SECTOR (9M10 Figures in EUR million) Helicopters Companies: AgustaWestland (*) (*) Polish company PZL-SWIDNIK, acquired by AgustaWestland, was consolidated from 1 January Revenues: EUR 2,556 million (+2.3%); Adjusted EBITA: EUR 252 million (+6.3%) Revenues came in at EUR 2,556 million, representing an increase of EUR 57 million (+2.3%) on the figure of EUR 2,499 million for the first nine months of The increase was due to ongoing work on current programmes, an increase in volumes on the AW139 line and product support activities, which included IOS (integrated operational support) contracts with the UK Ministry of Defence. Adjusted EBITA came in at EUR 252 million, representing an increase of EUR 15 million (+6.3%) on the figure of EUR 237 million for the first nine months of The improvement was due to growth in revenues and the different mix mentioned above. As a result, the adjusted EBITA margin came out at 9.9%, up from 9.5% at 30 September New orders totalled EUR 2,965 million, an increase of EUR 218 million (+7.9%) on the figure of EUR 2,747 million for 9M09. Helicopters (new aircraft and upgrades) accounted for 62.1% of new orders, with product support (spare parts, upgrades and integrated support) accounting for the remaining 37.9%. The Helicopters division recorded growth of 40% versus the same period of 2009, particularly in the civil/government segment. The most important contracts in the military/government segment were: 12 AW101s for the Indian Air Force; the upgrade of 10 Lynx Mk 9s for the UK Ministry of Defence; and the supply of 30 helicopters for a client in the south Mediterranean region. In the civil/government segment, orders for a total of 93 aircraft were received in the first nine months of The order backlog was EUR 10,222 million at 30 September 2010, up EUR 436 million, or +4.5%, on the figure of EUR 9,786 million at 31 December 2009, and sufficient to guarantee around three years of production. Headcount was 13,886 at 30 September 2010, up 3,543 on the 10,343 recorded at 31 December The increase was due to the combined effect of the launch of the restructuring programme for the newlyacquired Polish group PZL-SWIDNIK and its consolidation (headcount of 4,311 at time of acquisition). Defence and Security Electronics Companies: SELEX Galileo, SELEX Communications, SELEX Sistemi Integrati, SELEX Service Management, Elsag Datamat, Seicos, DRS Technologies. Revenues: EUR 4,978 million (+10%); Adjusted EBITA: EUR 426 million (+8.1%) Revenues totalled EUR 4,978 million, an increase of EUR 452 million (+10%) on the figure of EUR 4,526 million for 9M09. The main contributors to revenues were as follows: in avionics and electro-optics, work on the DASS system and avionics equipment and radar for the Eurofighter; in large integrated defence and security systems, the launch of the Forza NEC programme, border control in Libya and activities for the Department of Civil Protection for the emergency management system; in radar and command and control systems, work on air traffic control programmes, FREMM naval contracts, the MEADS programme and programmes to supply FADR ground radar; in integrated communications systems and networks, ongoing work on the national TETRA network, and development and production of equipment for the Eurofighter and the NH90, the supply of military communication systems in Italy and the UK, and work on the FREMM programme; in information technology and security, work on postal automation and industrial systems and computerisation of the Public Administration; for the DRS Technologies Group, the provision of infrared viewers for DVE (driver vision enhancement) systems for land vehicles, upgrade programmes on the target acquisition subsystems of Bradley combat vehicles, further supplies of TWS 9

10 soldier vision systems, repairs and the provision of spare parts for the MMS system for helicopters, the provision of services and products as part of the Rapid Response contract and satellite communication services, deliveries of high-resistance computers and displays for vehicles and the start of deliveries for the MTS (Movement Tracking System) programme. Adjusted EBITA totalled EUR 426 million, an increase of EUR 32 million (+8.1%) on the figure of EUR 394 million for 9M09. Growth was due to greater volumes and the effects of cost-cutting initiatives, which offset a less profitable mix of activities recorded in some segments. The adjusted EBITA margin consequently came out at 8.6%, in line with the figure for 9M09 (8.7%). New orders totalled EUR 5,235 million, up EUR 519 million (11%) versus the figure of EUR 4,716 million in 9M09, due mainly to the order relating to the third tranche of the Eurofighter programme. The main new orders received during the period include: in avionics and electro-optics, an order from BAE Systems to supply DASS protection systems and Captor radar for tranche 3A of the Eurofighter, orders for countermeasure systems; further orders for the NH90 helicopter programme, contracts from the UK Ministry of Defence to supply an integrated Defensive Aids System for helicopters in service with the Royal Air Force and orders for space programmes; in radar and command and control systems, an order from Panama to develop a National Surveillance and Security System via the implementation of a coastal monitoring and control system, a contract to implement a Vessel Traffic Management System (VTMS) in Turkey, an order for naval radar from the Peruvian Navy, a contract with ENAV for modernisation work on computers and software and on primary navigation and approach radar at various airports, two contracts with Morocco s Civil Aviation Authority, and other orders for radar systems from Colombia, Ukraine, Italy and Switzerland; in integrated communications systems and networks, various orders as part of the EFA programme for the supply of various communications equipment, including that for tranche 3A aircraft, various orders for communications systems for helicopter platforms, an order from Buenos Aires police for a TETRA system, an order from a Russian operator for a TETRA network, an order for communications equipment for naval use in India, orders for the Italian Army s VBM armoured vehicles; in information technology and security, a contract with Russian Post to expand the postal centre in Moscow and one with Aeroporti di Roma to implement a new automated baggage sorting system; in the DRS Technologies Group, orders from the US Army for work on the TWS soldier vision system, support activities for the MMS vision system for helicopters, the supply of further DVE systems, orders for Knight target acquisition systems, the production of trailers, and the supply of high-resistance computers and displays. The order backlog totalled EUR 12,615 million, a rise of EUR 335 million compared with EUR 12,280 million at 31 December 2009 (+2.7%). Avionics and electro-optics account for a third of this total, with DRS and large integrated systems, radar and command and control systems each accounting for a further fifth. Headcount was 29,784 at 30 September 2010, down 452 on the figure of 30,236 at 31 December Aeronautics Companies: Alenia Aeronautica, Alenia Aermacchi, GIE-ATR (*), Alenia North America, SuperJet International (**) Revenues: EUR 1,857 million (+5%); Adjusted EBITA: EUR 71 million (-40.8%) (*) Figures for the GIE ATR consortium are consolidated proportionally, at 50%. (**) Figures for the SuperJet International joint venture are consolidated proportionally, at 51%. Revenues were EUR 1,857 million, a rise of EUR 89 million, or 5%, on the figure of EUR 1,768 million reported in 9M09, mainly due to the military segment (C27J and G222). Revenues in the civil segment were stable due to increased production rates for the B787 that offset reduced activity related to the ATR and other aerostructures. Activities in the military segment mainly concerned: development and production work on the Eurofighter programme (second tranche), as well as logistics support; the production of C27J aircraft for the US, Romania and Morocco, updates to the Tornado and logistics support for the AMX; upgrades on the G222 aircraft ordered by the US Air Force, the production of the M346 aircraft and the upgrade of the MB339 for the Italian Air Force and the reconfiguration of the MB339 for the United Arab Emirates. In the civil segment, production concerned supply contracts for Boeing (B787, B767 and B777), Airbus (A380, A321 and A340), GIE-ATR (ATR 42 and 72), Dassault Aviation (Falcon 2000 and Falcon 900EX), and Bombardier, for the start of non-recurring activities relating to the CSeries regional aircraft. 10

11 Adjusted EBITA was EUR 71 million, a fall of EUR 49 million versus the figure of EUR 120 million for 9M09, mainly due to the different mix of ongoing programmes in the portfolio and the drop in production volumes in some plants. Specific industrial restructuring measures have already been implemented to tackle this negative performance. The sector adjusted EBITA margin was 3.8%, compared with 6.8% at 30 September New orders totalled EUR 1,586 million, compared with EUR 2,098 million in 9M09. Note that in the third quarter of 2009, Finmeccanica acquired a sizeable order, worth EUR 1,164 million, for the first batch of the third tranche of the Eurofighter programme. The main orders acquired included: in the military segment, orders for the supply of 12 M346 aircraft for the Singapore Air Force, the supply to the United Arab Emirates of four MB339 aircraft reconfigured for the National Aerobatics Team, a further eight C27J aircraft for the US Air Force, the first tranche of the order for infrastructure, equipment and technical assistance for production relating to the F35-JSF programme, logistics support for the Eurofighter, Tornado and the C27J; in the civil segment, orders for aerostructures for the B767, B777, ATR and A321 programmes and for the production of engine nacelles and orders of the GIE-ATR consortium for the sale of 59 aircraft to various airlines. The order backlog was EUR 8,710 million at 30 September 2010, compared with EUR 8,850 million at 31 December 2009, but is expected to expand in the medium/long term. Of this total, 47% related to the Eurofighter programme, 20% to the B787, and 5% to the C-27J. Headcount was 12,856 at 30 September 2010, down 290 on the 13,146 recorded at 31 December Space Companies: Telespazio, Thales Alenia Space (*) Revenues: EUR 616 million (-3.6%); Adjusted EBITA: EUR 15 million (-21.1%) (*) All figures relate to the two joint ventures Telespazio and Thales Alenia Space which are consolidated proportionally at 67% and 33% respectively. Revenues came in at EUR 616 million, compared with EUR 639 million in 9M09 (-3.6%). Production related principally to the following: in commercial telecommunications, satellites (Yahsat, Globalstar, W3B and W3C for Eutelsat, Rascom 1R and APSTAR 7), payloads for the Arabsat 5A/6B satellites, the provision of satellite services for telecommunications and resale of satellite capacity; in military telecommunications, the Satcom BW and CSO (post Helios) programmes and the provision of satellite services based on Sicral 1B capacity; in Earth observation, the COSMO-SkyMed programme, the satellites of the Sentinel 1 and 3 missions for the Kopernikus programme and territorial monitoring services; in scientific programmes, the Bepi-Colombo and Exomars programmes; in satellite navigation, the IOV (in-orbit validation) phase of the Galileo programme; and in orbital infrastructure, the Cygnus Cots programme connected with the International Space Station. Adjusted EBITA was EUR 15 million, versus EUR 19 million in 9M09. The figure was affected in particular by lower production volumes and a different mix of services within the satellite services segment. The adjusted EBITA margin came in at 2.4%, compared with 3% at 30 September New orders totalled EUR 762 million, up EUR 59 million (8.4%) on the figure of EUR 703 million reported in 9M09, as a result of increased orders in the manufacturing and satellite services segments. The most important orders acquired in the period were the following: in commercial telecommunications, contracts to supply W6A satellites for Eutelsat and APSTAR 7B satellites for APT Satellite Company Ltd, the contract relating to the YAMAL programme, the contract to supply the Poseidon3B altimeter, further tranches of the order relating to the O3B satellite constellation and the provision of satellite telecommunications services to TIM Brasil; in military institutional telecommunications, the first tranche of the order relating to the Sicral 2 programme, and new orders for military satellite telecommunications services based on Sicral 1B capacity; in Earth observation, the contract to supply the French Space Agency (CNES) with the Jason 3 Earth observation satellite, and the contract to supply ESA with the second satellite of the Sentinel 3 mission under the Kopernikus programme; in satellite navigation, the systems support contract for the FOC (Full Operation Capability) phase of the Galileo programme; in orbital infrastructure, a further 11

12 tranche of the order from Orbital Science Corporation to supply NASA with nine pressurised modules for the International Space Station; and in scientific programmes, a further tranche of the contract relating to the Bepi-Colombo programme and the order from ESA for the development of an atmospheric re-entry demonstrator (IXV-Intermediate experimental Vehicle). Finally, note that in May 2010, the Group acquired the contract for the design and construction of the IRIDIUM NEXT constellation consisting of 81 satellites for mobile telecommunications services. At 30 September 2010, only work on engineering systems and satellite development was included in new orders. The order backlog was EUR 1,775 million at 30 September 2010, an increase of EUR 164 million (10.2%) versus the figure of EUR 1,611 million at 31 December Of this total, around 56% consists of manufacturing activity, while the remaining 44% relates to satellite services. Headcount was 3,636 at 30 September 2010, down 26 on the 3,662 recorded at 31 December Defence Systems Companies: OTO Melara, WASS, MBDA (*) Revenues: EUR 802 million (+4.6%); Adjusted EBITA: EUR 61 million (+5.2%) (*) Figures for the MBDA joint venture are consolidated proportionally at 25%. Revenues were EUR 802 million, a rise of EUR 35 million, or 4.6%, on the figure of EUR 767 million reported in 9M09, mainly due to missiles systems. The main contributors to revenues were the following: in missiles systems, production of Aster, Mistral and anti-ship Exocet missiles, development of the air defence system for the MEADS (Medium Extended Air Defense System) programme entailing the joint participation of the US, Germany and Italy; in land, naval and air weapons systems, production relating to VBM armoured vehicles and the PZH 2000 for the Italian army, work on the HITFIST turret kits for Poland and the 76/62 SR cannons for various foreign clients, work on the FREMM programme and the production of SampT launchers; in underwater systems, activities relating to the Black Shark heavy torpedo, the MU90 and A244 light torpedoes, countermeasures and work on the FREMM programme. Adjusted EBITA was EUR 61 million, up EUR 3 million (+5.2%) from EUR 58 million in 9M09, chiefly due to higher revenues and the improved industrial profitability of missile systems. The adjusted EBITA margin was 7.6%, in line with the figure for 30 September New orders totalled EUR 661 million, compared with EUR 685 million in 9M09. The main orders were: in missile systems, the first orders as part of the agreement signed with the UK Ministry of Defence for the development and supply of new complex weapons; in land, naval and air weapons systems, the order for the third tranche of 38 vehicles for the Italian army s VBM programme, orders for Palmaria kits from Libya, for two 76/62 SR cannons from Fincantieri, for Mom-Sapom munitions from Singapore and significant logistics orders from various clients; in underwater systems, the order for 128 upgrade kits for the A244 light torpedo from a foreign client. The order backlog stood at EUR 3,748 million, compared with EUR 4,010 million at 31 December Around 60% of this figure relates to missile systems. Headcount at 30 September 2010 was 4,096, in line with the figure at 31 December 2009 (4,098). Energy Companies: Ansaldo Energia Revenues: EUR 994 million (-18.3%); Adjusted EBITA: EUR 92 million (-19.3%) Revenues came in at EUR 994 million, a drop of EUR 222 million on the figure of EUR 1,216 million recorded in 9M09. This was due to lower output in the plant and components segment. Activities mainly concerned the following segments: in plant and components, plants in Algeria, France and Italy; in services, the Long Term Service Agreements (LTSA) of Sparanise and Rosignano (Italy); in the nuclear 12

13 business, the engineering activities on the Sanmen project in China with Westinghouse, engineering activities on the Mochovce plant in Slovakia, service activities in Argentina and France and decommissioning activities in Italy; in renewable energies, production relating to the Martano and Soleto (Lecce) orders concerning the construction of two photovoltaic plants. Adjusted EBITA was EUR 92 million, a fall of EUR 22 million compared with the figure of EUR 114 million for 9M09. The adjusted EBITA margin was 9.3%, broadly in line with the 9M09 figure. New orders totalled EUR 610 million, down EUR 341 million versus the EUR 951 million recorded in 9M09, due mainly to delays in acquiring certain contracts. In this regard, note that in October 2010, the Group acquired a contract to supply plant components, including assembly, start-up and spare parts for the Sousse site in Tunisia. The main orders acquired included: in the plant and components segment, the supply of a turbine controller for Bangladesh, two turbine controllers for Finland and another two for Syria, and three steam turbines for the Larderello (Pisa) facility; in the service segment, new solution and replacement parts contracts, and a Long Term Service Agreement (LTSA) for Ireland; in the nuclear segment, new engineering orders for the Sanmen project in China and the Mochovce plant in Slovakia, new support contracts for the Superphoenix reactor in France and for the turbine at the Embalse plant in Argentina, and decommissioning activities in Italy and Lithuania. The order backlog was EUR 2,950 million at 30 September 2010, compared with EUR 3,374 million at 31 December About 37.4% of this figure was accounted for by plant and components work, 58.9% by service work (largely routine maintenance contracts), 2.5% by nuclear activities and the remaining 1.2% by renewable energies. Headcount at 30 September 2010 was 3,427, compared with 3,477 at 31 December 2009, due to staff turnover. Transport Companies: Ansaldo STS, AnsaldoBreda, BredaMenarinibus Revenues: EUR 1,373 million (+3.4%); Adjusted EBITA: EUR 57 million (-5%) Revenues totalled EUR 1,373 million, a rise of EUR 45 million, or 3.4%, on the figure of EUR 1,328 million recorded in 9M09, mainly due to the Signalling and Transportation Systems segments. Production related principally to the following: in Signalling, orders for high-speed lines and for ground and onboard train control systems (SCMT) in Italy, plus contracts signed in Australia, the UK, China, Turkey, Brazil and Libya; in Transportation Systems, orders for the Naples, Copenhagen, Rome, Brescia, Riyadh, Genoa and Milan metros; in Vehicles, trains for the Ferrovie Nord network around Milan, the Dutch, Belgian and Danish railways, the Milan and Rome metros, and various Sirio contracts and service contracts; in Buses, various orders for buses accounting for 83% of revenues, plus after-sales services. Adjusted EBITA was EUR 57 million, broadly in line with the figure (EUR 60 million) recorded in 9M09. The adjusted EBITA margin was 4.2%, compared with 4.5% at 30 September New orders totalled EUR 2,026 million, a slight fall compared from the figure of EUR 2,086 million registered in 9M09. Among the new orders secured in the period were: in Signalling, an order for the Sirth- Benghazi line in Libya, an order for the technological upgrade of the Genoa rail network, orders from Australian Rail Track Corporation and various components and service & maintenance orders; in Transportation Systems, a contract to operate and maintain the Copenhagen driverless metro and orders for the Naples and Genoa metros; in Vehicles, a contract, as part of a temporary consortium with Bombardier, to supply Trenitalia with 50 high-speed trains, the order for the revamping of trams in Milan and other service orders; in Buses, orders for 285 vehicles. The order backlog was EUR 6,684 million at 30 September 2010, an increase of EUR 730 million (12.3%) versus the figure of EUR 5,954 million at 31 December Signalling and transportation systems accounted for 59% of this total, vehicles 40% and buses the remaining 1%. Headcount was 7,243 at 30 September 2010, down 52 on the 7,295 registered at 31 December

14 ### Alessandro Pansa, the director responsible for drawing up the company s accounting statements, hereby declares, pursuant to article 154-bis, paragraph 2 of the Testo Unico della Finanza law, that the information contained in this press release accurately represents the figures contained in the Group s accounting records 14

15 9M 2010 (EUR million) Helicopters Defence Electronics Aeronautics Space Defence Systems Energy Transport Other Activities and Corporate Eliminations Revenues 2,556 4,978 1, , ,924 EBITA Adj (*) EBITA Adj (*) margin 9.9% 8.6% 3.8% 2.4% 7.6% 9.3% 4.2% 6.6% Depreciation and amortisation Investment in non-current Research and development ,345 New orders 2,965 5,235 1, , ,479 Order backlog 10,222 12,615 8,710 1,775 3,748 2,950 6, ,843 Headcount 13,886 29,784 12,856 3,636 4,096 3,427 7, ,733 Total 9M 2009 (EUR million) Helicopters Defence Electronics Aeronautics Space Defence Systems Energy Transport Other Activities and Corporate Eliminations Revenues 2,499 4,526 1, ,216 1, (404) 12,640 EBITA Adj (*) (117) 885 EBITA Adj (*) margin 9.5% 8.7% 6.8% 3.0% 7.6% 9.4% 4.5% n.a. 7.0% Depreciation and amortisation Investment in non-current Research and development ,302 New orders 2,747 4,716 2, , (408) 13,656 Order backlog (31/12/2009) 9,786 12,280 8,850 1,611 4,010 3,374 5, (894) 45,143 Headcount (31/12/2009) 10,343 30,236 13,146 3,662 4,098 3,477 7, ,056 (*) Operating result before: - any goodwill impairment; - amortisations of intangibles acquired under business combination; - restructuring costs of major, defined plans; - other extraordinary income and expenses, i.e. relating to particularly significant events unconnected with the ordinary operations of the company's core businesses. Total Finmeccanica plays a leading role in the global aerospace and defence industry, and participates in some of the sector s biggest international programmes through its group companies and well-established alliances with European and USA partners. A leader in the design and manufacture of helicopters, defence and security electronics, civil and military aircraft, aerostructures, satellites, space infrastructure and defence systems, Finmeccanica is Italy s leading high-tech company. It also boasts significant manufacturing assets and skills in the transport and energy sectors; it is listed on the Milan stock market and operates via a number of group companies and joint ventures. It has over 73,000 employees, with more than 12,600 working in the USA, about 10,100 in the UK and over 3,600 in France. As part of its drive to maintain and build on its technological excellence, Finmeccanica spends 12% of its revenues on Research and Development.

16 3Q 2010 (EUR million) Helicopters Defence Electronics Aeronautics Space Defence Systems Energy Transport Other Activities and Corporate Eliminations Revenues 803 1, ,234 EBITA Adj (*) EBITA Adj (*) margin 9.0% 7.9% 2.9% 4.4% 9.0% 7.9% 4.9% n.a. 6.30% Depreciation and Investment in non Research and New orders 474 2, , ,429 Total 3Q 2009 (EUR million) Helicopters Defence Electronics Aeronautics Space Defence Systems Energy Transport Other Activities and Corporate Eliminations Revenues 853 1, (136) 4,154 EBITA Adj (*) (42) 284 EBITA Adj (*) margin 8.8% 8.4% 10.8% 2.9% 6.7% 9.3% 1.2% n.a. 6.8% Depreciation and Investment in non Research and New orders 926 1,410 1, (164) 5,329 (*) Operating result before: - any goodwill impairment; - amortisations of intangibles acquired under business combination; - restructuring costs of major, defined plans; - other extraordinary income and expenses, i.e. relating to particularly significant events unconnected with the ordinary operations of the company's core businesses. Total