Devnya Cement - Italcementi Group Devnya Italcementi Group – Bulgaria Construction of a New Cement Production Line valued at M€ 160 May 11, 2012

Devnya Cement - Italcementi Group Italcementi Group at a glance 2 SRI LANKA SINGHA CEMENT ICC SAUDI ARABIA THAILAND JALAPRATHAN CEMENT ASIA CEMENT JALAPRATHAN CONCRETE CYPRUS CHINA FULI CEMENT BULGARIA DEVNYA CEMENT INDIA ZUARI CEMENT KAZAKHSTAN SHYMKENTCEMENT BETONATA MOROCCO CIMENTS DU MAROC BETOMAR ITALGEN MAROC SPAIN FYM FRANCE CIMENTS FRANÇAIS CIMENTS CALCIA UNIBETON GSM BELGIUM CCB ITALY ITALCEMENTI CALCESTRUZZI CTG ITALGEN GREECE HALYPS CEMENT ET BETON VASSILIKO CEMENT (**) KUWAIT HILAL CEMENT AL MAHALIYA NORTH AMERICA (U.S.A./CANADA) ESSROC ESSROC SAN JUAN CIMENT QUEBEC (JV 50%) ESSROC READY MIX EGYPT SUEZ CEMENT GROUP OF COMPANIES RMB ITALGEN MISR ALBANIA EUROTECH CEMENT GAMBIA GACEM MAURITANIA MAFCI

Devnya Cement - Italcementi Group Italcementi Group in Bulgaria Vulkan Cement AD  1947: October 16, the first kiln of Vulkan Cement AD becomes operational Devnya Cement AD  1958: On December 4th, the largest cement plant in Bulgaria - Devnya Cement AD 3

Devnya Cement - Italcementi Group A cooperation of: Other strategic investments in Bulgaria: Kavarna Windparks Operational since wind parks in Bulgaria 2009 & 2011 Financed by M€ 32 total investment 18 MW total installed capacity

Devnya Cement - Italcementi Group In long-term scenario following the consumption trend Bulgarian cement market could range between 4MT and 5MT next 12 – 15 years Brancucci curve Source: NSI, GSPD KT B2012 – 2250 KT The potential to bounce back for the market is very high 5

Devnya Cement - Italcementi Group 6 Devnya Cement begins the realization of one of the largest investment projects in Bulgaria valued at M€160 Will introduce the best available technology (BAT) in cement production to Bulgaria Will bring the most modern and up-to-date process, safety and environmental control systems Numerous economic and environmental benefits boosting the effectiveness of the production process:  Significant reduction of dust and CO 2 emissions  Decreased water consumption,  No waste generation (to 0)  Improved energy efficiency and utilization of alternative fuels – biomass and RDF

Devnya Cement - Italcementi Group 7 In order to be realized, such projects needs to receive support... Government Strong involvement & reactivity from the Government – Class A Investor Certificate received on Ministry of EconomyInvest Bulgaria Agency Dedicated project team from the Ministry of Economy through the Invest Bulgaria Agency by facilitating & accelerating all administrative processes & procedures Italian Embassy in BulgariaConfindustria Bulgaria Strong institutional assistance from the Italian Embassy in Bulgaria & Confindustria Bulgaria

Devnya Cement - Italcementi Group 8 Why are we investing in Bulgaria? Great potential for future regional economic growth and national infrastructure projects Country stability and Qualified labor force Innovation in terms of technology transfer & new products development. Ideal positioning – access to Black Sea markets for cement export / FTA have to be developed (ex. Georgia)

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Devnya Cement - Italcementi Group 12 Thank You for Your Attention!