Key 1H10 figures (EUR million) Revenues 8,654 8, % 18,176 Adj. EBITA (*) (19) (3.1%) 1,587. Adj.

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1 Rome, 28 July 2010 Board of Directors approves first-half results. Results in line with budget. Revenues and operating profits remain stable. Net profit of EUR 194 million. Overall results in line with forecasts and guidance for full-year Revenues rose 1.5% to EUR 8,654 million, from EUR 8,523 million in 1H09. Adjusted EBITA fell to EUR 586 million, versus EUR 605 million in 1H09. The adjusted EBITA margin was 6.8%, versus 7.1% in 1H09. Net profit totalled EUR 194 million, a decline on the EUR 242 million recorded in 1H09. Net debt at EUR 4,624 million, up EUR 1,554 million compared with 31 December This reflects normal seasonality in the productive cycle and typical receipts for the Group s companies. FOCF was a negative EUR 967 million, versus a negative EUR 695 million in 1H09. New orders totalled EUR 8,050 million, versus EUR 8,327 million in 1H09. Improved performance in Helicopters (supply of AW101 helicopters to the Indian Air Force and recovery in the civil helicopters segment) and Aeronautics (increased orders in the military segment) partially offset the decline in other sectors. The order backlog closed at EUR 45,803 million, up versus 45,143 million at 31 December 2009, and accounts for more than two and a half years of production. R&D costs stood at EUR 880 million, or 10% of revenues. Key 1H10 figures (EUR million) 1H H 2009 Abs. chg. % chg. FY 2009 Revenues 8,654 8, % 18,176 Adj. EBITA (*) (19) (3.1%) 1,587 Adj. EBITA (*) margin 6.8% 7.1% (0.3p p) 8.7% Net profit (48) (19.8 %) 718 Adj.net profit (**) (48) (19.8 %) 700 FOCF (967) (695) (272) (39.1 %) 563 Net debt 4,624 4, % 3,070 New orders 8,050 8,327 (277) (3.3%) 21,099 Order backlog 45,803 42,980 2, % 45,143 ROI 14% 16.7% (2.7p p) 16.7% EVA (73) (38) (35) (92.1 %) 290 Research & Development (7) (0.8%) 1,982 Headcount 76,527 73,517 3, % 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 Group s core businesses. (**) excluding extraordinary operations. 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 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 the end of May 2010, the Finmeccanica Group had about 77,000 employees, including almost 12,000 in the US, about 10,000 in the UK, almost 4,300 in Poland, approximately 3,700 in France and more than 1,000 in Germany. As part of its drive to maintain and build on its technological excellence, Finmeccanica spends 11% of its revenues on Research and Development.

2 CONSOLIDATED PROFIT AND LOSS ACCOUNT CONSOLIDATED PROFIT AND LOSS ACCOUNT 1H H 2009 % change mil. Revenues 8,654 8,523 2% Costs for purchases and personnel (7,744) (7,616) Depreciation and amortisation (275) (266) Other net operating revenues (costs) (49) (36) Adj EBITA (*) (3%) Adj EBITA (*) margin 6.8% 7.1% Non-recurring revenues (costs) - - Restructuring costs (16) (7) PPA amortisation (43) (39) EBIT (6%) EBIT margin 6.1% 6.6% Net financial income (costs) (187) (156) Income taxes (146) (161) Net profit before discontinued operations (20%) Profit of discontinued operations - - Net profit (20%) Group Minorities EPS (EUR) Basic Diluted EPS of continuing operations (EUR) 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 Revenues were EUR 8,654 million in 1H10, up EUR 131 million (+1.5%) versus EUR 8,523 million in the same period of The increase was mainly the result of higher production volumes in the Helicopters business (relating especially to work on the AW139 and product support), and Defence and Security Electronics, in connection with avionics and electro-optics activities. Adjusted EBITA was EUR 586 million at 30 June 2010, compared with EUR 605 million for the same period of The EUR 19 million decrease (-3.1%) was chiefly due to the Transport division, which saw a decline in the vehicles segment, and in the Space division, which recorded lower production in the manufacturing segment. Conversely, the Helicopters and Defence and Security Electronics businesses posted improvements. The adjusted EBITA margin (ROS) was therefore 6.8%, compared with 7.1% in 1H09. 2

3 Net profit was EUR 194 million, down EUR 48 million (-19.8%) from EUR 242 million in 1H09. This was mainly due to a decline in EBIT (EUR 32 million) and higher net financial charges (EUR 31 million), which were partially offset by the decrease in taxes (-EUR 15 million). BALANCE SHEET mil. Non-current assets 14,088 12,956 Non-current liabilities (2,770) (2,639) 11,318 10,317 Inventories 4,833 4,662 Trade receivables 9,680 8,481 Trade payables (12,674) (12,400) Working capital 1, Provisions for short-term risks and charges (618) (595) Other current net assets (liabilities) (1,009) (853) Net working capital 212 (705) Net invested capital 11,530 9,612 Capital and reserves attributable to equity holders of the Company 6,689 6,351 Minority interests Shareholders equità 6,906 6,549 Net debt (cash) 4,624 3,070 Net liabilities (assets) held for sale - (7) Free operating cash flow (FOCF) was negative by EUR 967 million at 30 June 2010, compared with a negative EUR 695 million at 30 June 2009, a decline of EUR 272 million (-39.1%). In seasonal terms, first-half outgoings tend to be higher than receipts. In 1H10, investment in product development was concentrated in Aeronautics (approximately 40%), Defence and Security Electronics (26%) and Helicopters (14%). CASH FLOW 1H 2010 mil. 1H 2009 Cash and cash equivalents at 1 January 2,630 2,297 Gross cash flow from operating activities 1,008 1,019 Changes in other operating assets and liabilities (493) (241) Funds From Operations (FFO) Changes in working capital (1,059) (1,024) Cash flow generated from (used in) operating activities (544) (246) Cash flow from ordinary investing activities (423) (449) Free operating cash flow (FOCF) (967) (695) Strategic operations (93) (160) Change in other financing activities 3 (25) Cash flow generated (used) by investment activities (513) (634) Dividends paid (257) (254) Cash flow from financing activities (438) (447) Cash flow generated (used) by financing activities (695) (701) Exchange gains/losses 41 2 Cash and cash equivalents at 30 June Net debt was EUR 4,624 million, compared with EUR 3,070 million at 31 December 2009, a rise of EUR 1,554 million, which confirms a normal seasonal performance in terms of receipts and payments, with first-half outgoings higher than receipts and greater cash burn in operating activities. The figure includes 3

4 negative FOCF (cash burn) of EUR 967 million and reflects the following transactions: a payment of EUR 237 million relating to the ordinary dividend for 2009 distributed by the Parent Company to its shareholders; a payment of EUR 20 million related to the minorities share of the ordinary dividend for 2009 distributed by Ansaldo STS to its shareholders; and the full effect on the Group s debt of the acquisition of Polish group PZL SWIDNIK, totalling EUR 115 million. This figure comprises the purchase price paid (EUR 77 million, net of cash acquired) and the company s debt (EUR 38 million) at the time it was included in the basis of consolidation. The debt figure was also negatively affected by the considerable depreciation of the euro against the dollar at 30 June 2010, compared with end-2009, especially in relation to the conversion of dollar-denominated net debt into euro. FINANCIAL POSITION mil Short-term financial payables 1, Medium/long-term financial payable 4,084 4,476 Cash and cash equivalents (919) (2,630) BANK DEBT AND BONDS 4,457 2,759 Securities (1) (11) Financial receivables from Group companies (49) (34) Other financial receivables (745) (763) FINANCIAL RECEIVABLES AND SECURITIES (795) (808) Financial payables to related parties Other short-term financial payables Other medium/long-term financial payables OTHER FINANCIAL PAYABLES 962 1,119 NET FINANCIAL DEBT (CASH) 4,624 3,070 New orders totalled EUR 8,050 million, versus EUR 8,327 million in 1H09, down EUR 277 million (-3.3%). The sectors that recorded an improved business trend were: Helicopters, where the increase was due mainly to an order to supply 12 AW101 helicopters to the Indian Air Force, and to the civil helicopters segment, which showed a significant recovery; and Aeronautics, where the rise in orders related primarily to the military segment. This improvement partially offsets the decline across other sectors. The order backlog stood at EUR 45,803 million, compared with EUR 45,143 million at 31 December 2009, an increase of EUR 660 million. The change was mainly due 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 around two and a half years of production. Research and development costs were EUR 880 million, down EUR 7 million (-0.8%) from EUR 887 million in 1H09. R&D was focused on the three strategic pillars of Aeronautics (18% of Group total), Defence and Security Electronics (38%) and Helicopters (20%). Headcount at 30 June 2010 was 76,527, compared with 73,056 at 31 December 2009, with an increase of 3,471 due to the consolidation of Polish group PZL SWIDNIK and staff hiring. In geographical terms, 56% of staff are located in Italy, and around 44% are based abroad (mainly in the UK, France and US). 4

5 FIRST-HALF 2010 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 a definitive agreement 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 signed a memorandum of understanding with ENEL and EDF 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 its industrial assets in the Defence and Security Electronics sector and Space sector, previously announced at the shareholders' meeting of 30 April 2010 launched a streamlining process intended to improve the business structure and industrial performance of the companies involved. In particular, the programme involves a number of specific business lines, enabling the Group to take advantage of the technological complementarity within its structure and to define clear responsibilities to end customers. The companies affected by 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 assigned the intellectual property, data and AgustaWestland production rights to use the AW101 platform to build a version for VXX programme. AgustaWestland will therefore have a role in the programme development and a significant stake in the design and production activities. On 22 June 2010, Russian Helicopters and AgustaWestland established a joint partnership to build a final assembly plant for the civil configuration of the AW139 helicopter in Russia. On 7 June 2010, DRS Technologies and Boeing signed an agreement for the NewGen Tanker. DRS will work with Boeing on the design of the consoles and will be responsible for the production of the Aerial Refuelling Operator Station (AROS) if Boeing obtains the order from the US Air Force. FINANCIAL OPERATIONS There were no new operations to raise capital either via the bond markets in general or via the banking market in the first half of Following the intense refinancing activity in the previous year, the average life of Group debt has been taken back to more than ten years, thereby strengthening the Group s financial structure. Note too that a series of operations on rates are under way to transform part of the fixed rate exposure to floating rate, thereby minimising the overall cost of the debt in question. The bonds issued by the Group that mature in the 18 months subsequent to the close of the period are shown below: Issuer Year of issue Maturity Nominal value (EUR million) Annual coupon Finmeccanica Finance SA % Type of offer European institutional IAS amounts recorded EUR m 449 All the bond issues carried out by Finmeccanica Finance, DRS Technologies and Meccanica Holdings USA are irrevocably and unconditionally guaranteed by Finmeccanica SpA, and are awarded mediumterm financial credit ratings by Moody s Investor Service, Standard and Poor s and Fitch. At the time the 5

6 first-half results were published, these credit ratings were A3 (Moody s), BBB+ (Fitch) and BBB (Standard and Poor s), all with a stable outlook. In February 2010, Finmeccanica began rebuying on the market, for a nominal value of approximately EUR 51 million, exchangeable bonds that can be exchanged for STM shares. These relate to the EUR 501 million issue in August 2003, and mature in August The purchase price was 99.40% of the nominal value of the bonds. The operation meant that an equivalent amount of the associated debt could be cancelled. In the first half 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 operation generated 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 value. In February 2010, Finmeccanica completed the operation that it had begun in December 2009 to convert the remaining EUR 639 million of its senior term loan facility (tranche C) into a back-up revolving credit facility with the same expiry date of June 2011, a margin of 80 bp on Euribor and a commitment fee of 32 bp on unused funds. The loan was fully repaid in 1Q10 and remains available for new uses. Changing the loan into a revolving credit line allowed the Group to increase the flexibility of its overall debt structure. In July, the Euro Medium Term Note (EMTN) programme was renewed for a further 12 months. The maximum for this programme is EUR 3,800 million. At 30 June 2010, around EUR 3,050 million relating to outstanding bond issues in EUR and GBP in respect of this programme had already been used. The programme offers both Finmeccanica and its subsidiary Finmeccanica Finance (with a guarantee by Finmeccanica) the option to act as an issuer on the European bond market. Lastly, again in July, Finmeccanica proposed to a group of banks to extend to 2015 the expiry date of confirmed back-up credit lines currently in place with expiry dates up to The transaction would take place under current market conditions for similar expiry dates and creditworthiness. OUTLOOK Group results in the first half of 2010 were similar to those recorded in the same period of 2009, and in line with forecasts. The global economic recession began to take its toll, albeit with a predictable time lag, on capitalintensive sectors. In Europe, this situation was aggravated as a result of recent crises in certain countries. Some Group companies could therefore be affected, possibly even in the medium term, by the fiscal policies implemented in many countries, which could lead to a reduction in public investment as a means to recouping the costs incurred to rescue the banking system and shore up demand in retail sectors. The Group therefore faces uncertainties surrounding the timing of the recovery of demand in its domestic markets, and needs to identify and pursue new markets that have higher investment growth rates but that are also more competitive. The continued search for efficiency in production and in the execution of contracts as well as reaching established performance goals are fundamental to ensuring, among other things, that the Group s solid financial structure is not compromised. The order backlog is sufficient to cover a large portion (over 90%) of expected production in the next six months. No unexpected events have occurred that require changes to be made to our forecasts made on a cautious base, when the 2009 financial statements were drawn up. 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. 6

7 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 that will be important in sustaining growth, focused in the Helicopters, Aeronautics and Defence and Security Electronics businesses. SHARE DATA 1H H 2009 Change % Average number of shares in period (thousands) 577, , % Net result (not including minority interests) ( mil.) Result of continuing operations (not including minority interests) ( mil.) BASIC EPS (EUR) % Basic EPS from continuing operations (EUR) % Average number of shares for the period (in thousands) (*) 577, , % 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 (EUR) % 7

8 PERFORMANCE BY SECTOR (1H10 figures in EUR million) Helicopters Companies: AgustaWestland (*) (*) Polish company PZL-SWIDNIK, acquired by AgustaWestland, was consolidated from 1 January Revenues: EUR 1,743 million (+5.9%); Adjusted EBITA: EUR 181 million (+11.7%) Revenues were EUR 1,743 million, up EUR 97 million (+5.9%), versus EUR 1,646 million in 1H09. 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 was EUR 181 million, up EUR 19 million (+11.7%), versus EUR 162 million in 1H09. The improvement was due to growth in revenues and the different mix mentioned above. As a result, the adjusted EBITA margin was 10.4%, up from 9.8% at 30 June New orders totalled EUR 2,491 million, up EUR 670 million (+36.8%), versus EUR 1,821 million in 1H09. Helicopters (new aircraft and upgrades) accounted for 63.1% of new orders, with product support (spare parts, upgrades and integrated support) accounting for the remaining 36.9%. The helicopters component showed a significant recovery compared with the first half of 2009, particularly in the civil/government segment. Product support also recorded excellent results. The most important contracts in the military/government segment were: 12 AW101 helicopters for the Indian Air Force; the upgrade of ten Lynx Mk9s for the UK Ministry of Defence; 30 helicopters for a client in the Southern Mediterranean area. In the civil/government segment, orders for a total of 63 aircraft were received in the first half of 2010, from Era Group Inc., Esperia Aviation Services and the State of Trinidad and Tobago. The order backlog was EUR 10,935 million, up EUR 1,149 million (+11.7%) versus EUR 9,786 million at 31 December 2009, and sufficient to guarantee around three years of production. Headcount was 14,172, an increase of 3,829 from 10,343 at 31 December The increase was due to the consolidation of the PZL-SWIDNIK group (+4,311) offset by staff turnover in the period in part due to the restructuring of new subsidiary. Defence and Security Electronics Companies: SELEX Galileo, SELEX Communications, SELEX Sistemi Integrati, SELEX Service Management, Elsag Datamat, Seicos, DRS Technologies. Revenues: EUR 3,255 million (+5.9%); Adjusted EBITA: EUR 289 million (+5.5%) Revenues totalled EUR 3,255 million, up EUR 180 million (+5.9%) versus EUR 3,075 million in 1H09. The main contributors to revenues were as follows: work on the DASS system and avionics equipment and radar for the Eurofighter (avionics and electro-optics); the launch of the Forza NEC programme, border control in Libya and activities for the Department of Civil Protection for the emergency management system (large integrated defence and security systems); work on air traffic control programmes, FREMM naval contracts, the MEADS programme and programmes to supply FADR ground radar (radar and command and control systems); ongoing work on the national TETRA network, and development and production of equipment for the Eurofighter and the NH90 (integrated communications systems and networks); work on postal automation and industrial systems, the FREMM combat system, and computerisation of the Public Administration (information technology and security); 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, the further provision of TWS soldier vision systems, repairs and the provision of spare parts for the MMS system for helicopters, and the start of deliveries for the MTS (Movement Tracking System) (DRS Technologies Group). 8

9 Adjusted EBITA was EUR 289 million, up EUR 15 million (+5.5%) versus EUR 274 million in 1H09. Growth was due to greater volumes and cost-cutting initiatives that offset a decline of revenues in certain segments and a less profitable business mix. The adjusted EBITA margin consequently was 8.9%, in line with the figure for 1H09. New orders totalled EUR 3,045 million, down EUR 261 million (-7.9%) versus EUR 3,306 million in 1H09. The main new orders in the period included: in avionics and electro-optical systems, orders for the EFA (third tranche), two orders from the Italian Air Force and the Swiss Air Force for precision approach radar (PAR), orders for equipment for the NH90 helicopter, contracts from the UK Ministry of Defence to supply an integrated Defensive Aids System for helicopters in service with the Royal Air Force; in radar and command and control systems, 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 various airports, two contracts with Morocco s Civil Aviation Authority; in integrated communications systems and networks, an order from the Buenos Aires police for a TETRA system, an order from a Russian operator for a TETRA network, various orders for communications equipment and systems for naval use in India, for the Italian Army s VBM armoured vehicles, for the EFA programme and for various helicopter platforms; 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 group, orders from the US Army for work related to the TWS (Thermal Weapon Sight) system, the supply of DVE systems, the production of trailers, the supply of high-resistance computers and displays, and support activities for the MMS (Mast Mounted Sight) system for helicopters. The order backlog totalled EUR 12,649 million, up EUR 369 million (+3.0%) versus EUR 12,280 million at 31 December Avionics and electro-optics accounted 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 30,204, a reduction of 32 from 30,236 at 31 December Aeronautics Companies: Alenia Aeronautica, Alenia Aermacchi, GIE-ATR (*), Alenia North America, SuperJet International (**) Revenues: EUR 1,262 million (+4.5%); Adjusted EBITA: EUR 54 million (-10.0%) (*) Figures for the GIE ATR consortium are consolidated proportionally, at 50%. (**) Figures for the SuperJet International joint venture are consolidated proportionally, at 51%. Revenues totalled EUR 1,262 million, up EUR 54 million (+4.5%) versus EUR 1,208 million in 1H09, mainly due to the military segment. Activities in this segment mainly concerned: work on the Eurofighter programme (second tranche), the production of C-27J aircraft for the US, Romania and Morocco, updates to the Tornado and logistics support for the AMXs, upgrades on the G222 aircraft commissioned by the US Air Force, the production of the M346 and the upgrade of the MB339 for the Italian Air Force and reconfigurations 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) and Dassault Aviation (Falcon 2000 and Falcon 900EX). Adjusted EBITA was EUR 54 million, down EUR 6 million (-10,0%) versus EUR 60 million in 1H09, chiefly due to the different mix of ongoing programmes in the portfolio. The sector adjusted EBITA margin was 4.3%, compared with 5.0% at 30 June New orders totalled EUR 806 million, up EUR 155 million (+23.8%) versus EUR 651 million in 1H09, mainly due to the military segment. The main orders acquired included: in the military segment, orders for the supply of a further eight C-27J 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 and the C-27J, and the supply to the United Arab Emirates of four reconfigured MB339 aircraft; in the civil segment, orders for aerostructures for the B767, B777, ATR and A321 programmes, and orders of the GIE-ATR consortium for the sale of seven aircraft to carriers in Sweden, Syria, Laos and Mauritius. 9

10 The order backlog was EUR 8,716 million, down EUR 134 million (-1.5%) versus EUR 8,850 million at 31 December 2009, but is expected to increase in the medium/long term. Of this total, 49% related to Eurofighter programmes, 21% to the B787, and 6% to the C-27J. Headcount was 12,905, a reduction of 241 from 13,146 at 31 December Space Companies: Telespazio, Thales Alenia Space (*) Revenues: EUR 412 million (-5.3%); Adjusted EBITA: EUR 5 million (-61.5%) (*) All figures relate to the two joint ventures Thales Alenia Space and Telespazio which are consolidated proportionally at 33% and 67% respectively.. Revenues were EUR 412 million, down EUR 23 million (-5.3%) versus EUR 435 million in 1H09. Production related principally to the following: satellites (Yahsat, Globalstar, W3B and W3C for Eutelsat, Rascom 1R), payloads, the provision of satellite services for telecommunications and resale of satellite capacity (commercial telecommunications); the Satcom BW and CSO (post Helios) programmes and the provision of satellite services based on Sicral 1B capacity (military telecommunications); the COSMO- SkyMed programme, the satellites of the Sentinel 1 and 3 missions for the Kopernikus programme and territorial monitoring services (Earth observation); the Bepi-Colombo and Exomars programmes (scientific programmes); the IOV (in-orbit validation) phase of the Galileo programme (satellite navigation); and programmes connected with the International Space Station (orbital infrastructure). Adjusted EBITA was EUR 5 million, down EUR 8 million (-61.5%) versus EUR 13 million in the first half of 2009, mainly reflecting reduced output. The adjusted EBITA margin was 1.2%, compared with 3.0% at 30 June New orders were EUR 497 million, down EUR 68 million (-12.0%) versus EUR 565 million in 1H09, due to fewer orders in the manufacturing segment. The most important orders acquired in the period were the following: contracts to supply W6A satellites for Eutelsat and APSTAR 7B satellites for APT Satellite Company Ltd, 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 (commercial telecommunications); new orders for military satellite telecommunications services based on Sicral 1B capacity (military institutional telecommunications); the contract to supply the French Space Agency (CNES) with the Jason 3 Earth observation satellite, the contract to supply ESA with the second satellite of the Sentinel 3 mission as part of the Kopernikus programme (Earth observation); the systems support contract for the FOC (full operation capability) phase of the Galileo programme (satellite navigation); a further tranche of the order from Orbital Science Corporation to supply NASA with nine pressurised modules for the International Space Station (orbital infrastructure); and 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) (scientific programmes). Notably, the Group also acquired in May 2010 the contract for the design and construction of the IRIDIUM NEXT constellation consisting of 81 satellites for mobile telecommunications services. The order backlog was EUR 1,713 million, up EUR 102 million (+6.3%) versus EUR 1,611 million at 31 December Of this total, 56.8% consists of manufacturing activity, while the remaining 43.2% relates to satellite services. Headcount was 3,652, a reduction of ten from 3,662 at 31 December

11 Defence Systems Companies: OTO Melara, WASS, MBDA (*) Revenues: EUR 537 million (+4.5%); Adjusted EBITA: EUR 37 million (-11.9%) (*) Figures for the MBDA joint venture are consolidated proportionally at 25%. Revenues were EUR 537 million, up EUR 23 million (+4.5%) versus EUR 514 million in 1H09, mainly due to missile and underwater systems. The main contributors to revenues were the following: production of Aster and Mistral 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 (missiles 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 (land, naval and air weapons systems); and activities relating to the Black Shark heavy torpedo, the MU90 and A244 light torpedoes, countermeasures and work on the FREMM programme (underwater systems). Adjusted EBITA was EUR 37 million, down EUR 5 million (-11.9%) versus EUR 42 million in 1H09, due exclusively to non-operational items relating to the previous year registered in underwater systems. The adjusted EBITA margin was 6.9%, compared with 8.2% in 1H09. New orders totalled EUR 414 million, down EUR 152 million (-26.9%) versus EUR 566 million in 1H09. This was due to a year-on-year drop in missiles systems orders, after significant new orders from abroad a year ago, and a smaller decline in land, naval and air weapons systems. The main new orders secured included: 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 armaments (Complex Weapons); in land, naval and air weapons systems, orders for Palmaria kits from Libya, for two 76/62 SR cannons from Fincantieri, for Mom-Sapom munitions from Singapore and for Aster launchers from MBDA France; in underwater systems, the order for 128 upgrade kits for the A244 light torpedo from a foreign client. The order backlog was EUR 3,799 million, down EUR 211 million (-5.3%) versus EUR 4,010 million at 31 December Around two-thirds of this total relates to activities in the missile systems segment. Headcount was 4,075, a reduction of 23 from 4,098 at 31 December Energy Companies: Ansaldo Energia Revenues: EUR 677 million (-17.4%); Adjusted EBITA: EUR 67 million (-11.8%) Revenues were EUR 677 million, down EUR 143 million (-17.4%) versus EUR 820 million in 1H09. This was due to lower output in the plant and components, and services segments. Activities mainly concerned the following segments: in plant and components, plants in Algeria, France and Italy; in services, the Long Term Service Agreements (LTSA) with Sparanise and Rosignano (Italy); in the nuclear 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. Adjusted EBITA totalled EUR 67 million, down EUR 9 million (-11.8%) versus EUR 76 million in 1H09. The adjusted EBITA margin was 9.9%, versus 9.3% in the same period the previous year. New orders totalled EUR 374 million, down EUR 24 million (-6.0%) versus EUR 398 million in 1H09, due mainly to delays in securing certain contracts. The main orders acquired included: in the plant and components segment, the supply of a turbine controller for Bangladesh and two turbine controllers for Finland; for the service segment, new solution and replacement parts contracts, and a Long Term Service Agreement (LTSA) for Ireland; for the nuclear segment, new engineering orders for the Sanmen 11

12 project in China, new support contracts for the Superphoenix reactor in France and for the turbine at the Outage Embalse plant in Argentina, and decommissioning activities in Italy and Lithuania. The order backlog stood at EUR 3,030 million, down EUR 344 million (-10.2%) versus EUR 3,374 million recorded at 31 December About 37.3% of this figure was accounted for by plant and manufacturing work, 59.2% by service work (largely routine maintenance contracts), 2.5% by nuclear activities and the remaining 1.0% by renewable energies. Headcount was 3,443, a reduction of 34 from 3,477 at 31 December 2009, owing to normal staff turnover. Transport Companies: Ansaldo STS, AnsaldoBreda, BredaMenarinibus Revenues: EUR 926 million (+3.5%); Adjusted EBITA: EUR 35 million (-36.4%) Revenues totalled EUR 926 million, up EUR 31 million (+3.5%) versus EUR 895 million in 1H09, mainly due to the Signalling and Transportation Systems segments. Production related principally to the following: 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 and Brazil (signalling); orders for the Naples, Copenhagen, Rome, Brescia, Riyadh and Genoa metros (transportation systems); 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 (vehicles); various orders for buses accounting for 82% of revenues, plus after-sales services (buses). Adjusted EBITA was EUR 35 million, down EUR 20 million (-36.4%) versus EUR 55 million in 1H09. The change was mainly due to a decrease in the vehicles segment, owing to contractual charges paid to foreign clients, and the buses segment, which was affected, in particular, by the first delivery of the new articulated 18-metre vehicle. The adjusted EBITA margin was 3.8%, compared with 6.1% at 30 June New orders were EUR 733 million, down EUR 457 million (-38.4%) versus EUR 1,190 million in 1H09, which had included particularly significant orders in all segments. New orders received during the period include an order for the technological upgrade of the Genoa rail network and various components and service & maintenance contracts (signalling); a contract to operate and maintain the Copenhagen driverless metro and orders for the Naples and Genoa metros (transportation systems); orders for the revamping of trams in Milan and other service orders (vehicles); and orders for 95 vehicles (buses). The order backlog was EUR 5,864 million, down EUR 90 million (-1.5%) from EUR 5,954 million at 31 December Signalling and transportation systems accounted for 66% of this total, vehicles 33% and buses the remaining 1%. Headcount was 7,281, a reduction of 14 from 7,295 at 31 December ### 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. 12

13 1H 2010 (Euro million) Helicopters Defence Electronics Aeronautics Space Defence Systems Energy Transport Other Activities and Corporate Eliminat ions Revenues 1,743 3,255 1, (272) 8,654 EBITA Adj (*) (82) 586 EBITA Adj (*) margin 10.4% 8.9% 4.3% 1.2% 6.9% 9.9% 3.8% n.s. 6.8% Depreciation and amortisation Investment in non-current assets Research and development costs New orders 2,491 3, (348) 8,050 Order backlog 10,935 12,649 8,716 1,713 3,799 3,030 5, (1,042) 45,803 Headcount 14,172 30,204 12,905 3,652 4,075 3,443 7, ,527 1H 2009 (Euro million) Helicopters Defence Electronics Aeronautics Space Defence Systems Energy Transport Other Activities and Corporate Eliminat ions Revenues 1,646 3,075 1, (268) 8,523 EBITA Adj (*) (77) 605 EBITA Adj (*) margin 9.8% 8.9% 5.0% 3.0% 8.2% 9.3% 6.1% n.a. 7.1% Depreciation and amortisation Investment in non-current assets Research and development costs New orders 1,821 3, , (244) 8,327 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 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. Total Total