PRESS RELEASE

Construction sector: The Antitrust Authority closes preliminary investigation, no restrictive agreement between Salini and Impregilo

The agreement signed between the two companies on 27^th September 2012 with the aim to start a strategic collaboration represented a preliminary phase which resulted in Salini’s acquisition of Impregilo.

There are no conditions on which to charge Salini Costruttori and Impregilo, as no agreement was entered to restrict competition. This was established by the Autorità Garante della Concorrenza e del Mercato in a meeting on 03^rd July 2013, thus closing the preliminary investigation launched in October 2012 so as to verify possible restrictive effects of the strategic Agreement signed by the two companies in order to participate in call for tenders for the realization of constructions.

According to the Antitrust Authority, the agreement between the independent companies, which ceased the moment in which the preliminary investigation was launched, is to be evaluated in the light of Salini’s following acquisition of Impregilo. In this view, the Agreement can be considered as a preliminary phase of the acquisition process, and therefore it is not a relevant agreement from an antritust viewpoint.

Moreover, the preliminary investigation ascertained that the Agreement was aimed at creating operational synergies especially on the occasion of international call for tenders in which the firms Salini and Impregilo had to face big companies operating worldwide. In fact, in its first phase, the Agreement was almost entirely referred to international projects.

Rome, 16^th July 2013