The BoD approves the first half interim report. Total revenues 5.1 million euros (+10.5%) Ebitda up 56.2% to 1.4 million euros

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1 The BoD approves the first half interim report Total revenues 5.1 million euros (+10.5%) Ebitda up 56.2% to 1.4 million euros Milan, 29th August 2012 The Board of Directors of Compagnia Immobiliare Azionaria S.p.A. (Cia) met in Milan today to review and approve the activities and consolidated results relative to the first half of the year. Consolidated results Overall group revenue at 30th June 2013 increased by 10.5% to 5.1 million euros, mainly thanks to the renting out of the office block owned by the subsidiary, Diana Bis Srl, an operation which had begun in July Similarly to the first half of the previous year, operating costs amounted to 3.7 million euros. The gross operating margin (ebitda) grew by 56.2%, from 0.9 million euros to 1.4 million euros. The consolidated income statement showed a net loss of 0.41 million euros (-0.32 million euros at the end of the first half of the previous year). The consolidated net position amounted to 49.6 million euros of debt against 46 million euros of debt at 31/12/12 Consolidated net equity amounted to million euros compared with million at 31st December Highlights Despite the slump in the Italian real estate market, sales of apartments in the new six-floor residential building and relative garages, located near the cathedral in the centre of Milan, continued. At 30th June 2013, sales of the residential building, which had begun in 2011, generated overall revenues of million euros, including 2.25 million euros in the first half of the current year, thus allowing a significant return on the investment. in the Feudi del Pisciotto complex in Sicily, work on the tasting room with kitchen and the Wine Relais, with rooms/suites featuring all mod cons, located in the inhabitable part of the largest eighteenth century winery on the island, is drawing to an end. Activities are expected to begin within the first week of September. the possibilities of exploiting some of the real estate assets located in Sicily are being studied. In particular: o the buildings owned by Isola Longa Srl in the Trapani area known as Riserva dello Stagnone (Trapani salt marshes); o an ancient beamed structure covering over 2,600 m², owned by Feudi del Pisciotto Srl; o the real estate owned by Agricola Florio Srl, located on the Island of Levanzo.

2 Post-balance sheet highlights The dispute with a leading listed Spanish company is still open due to its continuing non-fulfilment of the option contact for the purchase of 15% of the company, Donnafugata Resort Srl, and the arbitration sentence that deemed the 33 million euro valuation by the arbiter, prof. Luigi Guatri, to be fair. In February, the Spanish company challenged the arbitration sentence before the Court of Appeal in Milan which, with an order issued on 17th July 2013, rejected the postponement request, declared that there were no grounds for declaring the inadmissibility of the proposed appeal and adjourned the case for summing up to the hearing of 23rd February The in-court and out-of-court actions to take in order to execute the arbitration sentence and the put option contract are currently being assessed. When the price established for the sold shares, amounting to 4.95 million euros, is collected, Cia will make a significant capital gain with respect to the book values. Future prospects Despite the fact that the general economic situation continues to be volatile and uncertain, future prospects for the second half of the year are positive thanks to the stability of the returns on previous real estate investments and the related activities performed by the parent company, especially the prospects for the development of the real estate and commercial operations by the subsidiaries, Diana Bis Srl and Feudi del Pisciotto Srl: the forecast recovery of the Milan real estate market, along with the progress of certain negotiations concerning the residential units in the real estate complex built by the subsidiary, Diana Bis Srl, allow us to expect that the objectives described in the investment plan will be achieved by the end of the year; in the second half of the year, wine sales revenues by the subsidiary, Feudi del Pisciotto Srl, will increase, mainly thanks to the increase in exports, particularly to eastern countries (China) and the United States. For further information, please contact: Gian Marco Giura Tel: gmgiura@class.it The Income Statement and Balance Sheet schedules follow below. The interim management report at 30th June 2013 will be available to the public from 29th August 2013 on the website

3 The Manager of corporate accounting documents of Compagnia Immobiliare Azionaria S.p.A., Emilio Adinolfi, hereby certifies that the accounting information in this document is consistent with accounting records. Consolidated income statement at 30th June 2013 uro/000 30/06/12 31/12/12 30/06/13 Change (%) on 30/06/12 Sales revenues 4,621 9,850 5, Operating costs (3,730) (5,663) (3,715) (0.4) Gross profit 891 4,187 1, % of revenues Amortisation and (512) (1,273) (772) 50.8 depreciation Operating result 379 2, % of revenues Net (777) (1,737) (1,108) (42.6) income and charges Pre-tax profits (398) 1,177 (488) (22.6) Income taxes 75 (28) 73 (2.7) Minority profit/(loss) Net group profit (323) 1,158 (413) (27.9) Revenues are broken down as follows uro/000 30/06/12 30/06/13 Change (%) Revenues from rentals 1,168 1, Revenues from facility management Revenues from wine sales Other revenues from winegrowing activities Revenues from real 2,372 2,252 (5.1) estate sales Other revenues (47.5) Total 4,621 5,

4 Net position at 30th June 2013 uro/000 30/06/ /12/ /06/2013 Changes 2013/2012 Securities Change % Cash and cash equivalents Short-term receivables Long-term payables Short-term payables 165 4, (4,448) (99.2) (1) (100.0) (46,205) (44,553) (43,564) (4,720) (5,949) (6,334) (385) (6.5) Table showing the consolidated balance sheet- situation at 30th June 2013 ASSETS (thousands of euros) 31st December th June 2013 Intangible fixed assets with an indefinite life Other intangible fixed assets 9 7 Intangible fixed assets 9 7 Tangible fixed assets 46,666 46,237 Equity investments valued at net 15,541 15,544 equity Other equity investments Advance tax receivables Other receivables 1,379 1,439 NON-CURRENT ASSETS 64,124 63,769 Inventory 15,380 13,580 Trade receivables 2,956 5,406 Financial receivables 1 -- Tax receivables 1,269 1,347 Other receivables 1, Cash and cash equivalents 4, CURRENT ASSETS 25,347 21,220 TOTAL ASSETS 89,471 84,989

5 LIABILITIES (thousands of euros) 31st December th June 2013 Share capital Share premium account 1,526 1,526 Legal reserve Other reserves 6,892 8,052 Profit (loss) for the period 1,158 (413) Group net equity 10,684 10,273 Minority capital and reserves 5,053 5,044 Minority profit (loss) (9) (2) Minority net equity 5,044 5,042 NET EQUITY 15,728 15,315 Financial payables 44,553 43,564 Deferred tax payables Severance fund and other employee funds NON-CURRENT LIABILITIES 44,818 43,777 Financial payables 5,949 6,334 Trade payables 6,956 6,880 Tax payables Other payables 15,939 12,581 CURRENT LIABILITIES 28,925 25,897 TOTAL LIABILITIES 73,743 69,674 LIABILITIES AND NET EQUITY 89,471 84,989

Board approves first half results. Total revenues of 3.1 million euro. Profit reported following loss in 2013

Board approves first half results Total revenues of 3.1 million euro Profit reported following loss in 2013 Milan, 28 August 2014 The Board of Directors of Compagnia Immobiliare Azionaria Spa (Cia) met