1 Click to edit Master title style 11th – 12th June, Warsaw Ministry of Transport in Poland and World Bank Workshop on Road User Charging Systems Free-flow Electronic Tolling Systems: the experience of Autostrade for Poland and for the World Market Mr. Galliano Di Marco Head of International Development Autostrade Group

2 Autostrade at a glance: leader in free-flow tolling systems The largest operator of toll motorways in Italy:  3,408 Km under concession, equal to 61% of Italy’s toll road network;  Around EUR 11.0 billion investments committed for road enhancement over the next 5 years. No. 1 operator in Europe for electronic tolling with over 5 million TELEPASS ® transponders issued in Italy and Austria. Significant international experience in toll road projects:  Launched first toll roads in UK (the “M6 Toll” in Birmingham) and US (the “Dulles Greenway” in Virginia);  Developed a free-flow multilane electronic toll-collection system for heavy vehicles in Austria (Europpass) on 2,100 km road network ;  Acquired in 2005 a relevant stake in Costanera Norte, a 33 km motorway in Santiago, Chile, featuring free-flow multilane electronic tolling;  Recently acquired a controlling stake in the Polish Group Stalexport, including the concession of the 61 km. Krakow - Katowice A4 motorway.

3 Industry leadership and innovation over time First toll motorway in the world (Milan-Como-Varese, 85 km.) which became part of the Autostrade network in Opening of Milan-Naples motorway (800 Km) 1963First ever “Eurobond” issue 1990First dynamic toll collection system in the world (TELEPASS ® ) 1995First privately financed toll motorway in the US (“Dulles Greenway”in Virginia) 1999Largest privatisation in the industry worldwide 2003Opening of the first toll motorway in the UK (“M6 Toll” near Birmingham) 2004 Opening of the first dynamic free flow multilane nation-wide toll collectionsystem in the world (Europpass in Austria) 2005Acquisition, in consortium with SIAS S.p.A. (45%) and Mediobanca (10%), of 45% of Costanera Norte, 43 km.-long motorway passing across the metropolitan area of Santiago (Chile) 2006Acquisition of a controlling stake in Stalexport S.A., Polish conglomerate active in the steel distribution and toll motorways operation (it is the concessionaire of the 61 km- long section Krakow-Katowice of A4 motorway) 2007The Annual General Meeting of the shareholders of Autostrade S.p.A. resolves to change the Company’s name to Atlantia S.p.A., as part of a wide-ranging restructuring, and maintaining Autostrade per l’Italia’s role as an operating parent company involved in the management of infrastructure under concession

4 Business strategy based on Group’s core competences Core AssetsCore BusinessCore Knowledge Construction  Focus investments on de-bottlenecking of core network 1997 Investment Programme 2002 Additional Investment Programme Operation and Maintenance Toll Collection  Focus on network maintenance and development  Commitment to operational efficiencies and cost reduction  Improvement of quality of services delivered to customers  Industry leadership to drive efficiencies and exploit further revenue opportunities  Leverage market leadership internationally (e.g. Europpass project)

5 n Largest toll road operator in Europe and leader in toll road development in the Industry No 1 Operator The Company’s Uniqueness n Established nation-wide network with limited traffic and substitution risk n Clear and supportive regulatory framework for new investments in de-bottlenecking Low Business Risk Investments to unlock value Regulation n Investments are targeted at sections most in need of congestion relief thus allowing for unsaturated long term traffic growth n Efficient financial structure n Long term availability of financial resources n Hedged interest rate risks Risk Management

6 A key factor: direct technical capabilities Main system developer & integrator for the Italian market of tolling and traffic management (captive and non-captive) Direct knowledge of state of the art technologies Proper leverage of technological risks in complex projects Make or Buy RESEARCH & DEVELOPMENT SYSTEM INTEGRATION SERVICE PROVIDER MANAGEMENT PROCESS Group’s Strategies Market Technological Development ITS Autostrade Group Clients Scouting Feasibility Conceptual Design Prototyping Toll collection Access control & RUC Traffic management Application management Equipment IT Systems Application Service Provider Consulting & support Post-sale support

7 Our approach to business and projects Main guidelines/goals:  Economic performance (return on investment)  Security proven technological system performance guarantee of delivery in defined time  User friendly  “Simple” operation  Local value creation No requirements or constraints / neutrality as regards toll technology:  No technology, supply or production interest; technology applied is chosen according to availability and appropriateness in relation to the service requested by the customer  Not bound to any supplier: opportunistic choice

8 Worldwide presence and experiences M6 Toll Birmingham (UK) 1° Toll Motorway in the United Kingdom Costanera Norte Santiago (Chile) DSRC Urban Free-Flow Tolling System Dulles Greenway Virginia (USA) First Private Toll Motorway in the United States Stalexport (Poland) A4 Motorway Katowice – Krakow Autostrade per l’Italia (Italy) 3400 km Toll Motorway in Concession (Europpass LKW-Mautsystem) (Austria) 1° DSRC Nationwide Free-Flow Electronic Tolling System 2000 km Several concessionaires (Brazil and Argentina) controlled via Impregilo participation

9 Europpass: a success story concession to design, build, finance and operate for 10 years In May 2002 the Austrian Road Administration (ASFINAG) awarded Autostrade the concession to design, build, finance and operate for 10 years a multilane free-flow tolling system for commercial vehicles on the Austrian motorways/expressways network (2,092 km. plus future extensions) PLAN PLAN BUILD BUILD FINANCING DESIGN DESIGN OPERATE OPERATE Setup in 18 months Setup in 18 months Management for 10 years Management for 10 years July 1st 2002 Construction works started on July 1st 2002 January 1st Service started on January 1st 2004, on time and on budget 52 million transits 52 million transits per year forecast along the tolled motorway network advanced Most advanced and complex electronic tolling system in the world

10 Fully electronic dynamic free-flow tolling on approx. 2,100 Km of existing motorways / expressways (plus future extensions) Based on 5.8 GHz Dedicated Short Range Communication (CEN-DSRC) between On-Board-Units (OBU’s) and roadside equipment 800+ tolling stations positioned across the carriageway along main routes (not at entry/exit points) All heavy vehicles (> 3. 5 tons), Austrian and foreign, to be mandatorily equipped with OBU’s 200+ Points of Sale for OBU’s and for assistance Toll payment according to class of vehicle and actual distance travelled Option for toll payment: post-pay or pre-pay modes Central IT System for traffic monitoring, tolling operations, invoicing and enforcement Enforcement by means of 150 control stations Europpass: Technical Features

11 Success factors: strong commitment & experienced partners  ASFINAG The Grantor – ASFINAG – is 100% owned by the Republic of Austria, has a strong reputation and experience in the operation of motorways and is rated AAA by S&P The Austrian Government will use the funds raised from the project to cover costs for the construction of new roads and for the maintenance of the existing ones  Autostrade Autostrade has a sound financial background and is rated A by S&P and A3 by Moody’s Autostrade is an experienced partner and among the world's largest motorway concession companies, and is one of the largest European operators of toll motorways under concession in terms of network extension, traffic and revenues Autostrade has developed its proprietary electronic tolling technology, under the brand name "Telepass". Currently there are more than 5,000,000 Telepass customers. Autostrade is the exclusive supplier of electronic tolling systems to motorway concessionaires in Italy  Local Partnerships A key element for the success of the Austrian Project was that Autostrade capitalized on the local expertise and set up strong partnerships with some experienced local firms.

12 Success factors: proven technology  The Austrian system is the first global country-wide multilane free-flow tolling system to come on line;  The microwave technology is the most developed technology for tolling in the world, being its reliability proved in 28 countries around the world; Europe: approx. 10 million users across 10 Countries (50% in Italy) Japan: approx. 4 million users (2004) USA: programs for distribution of several millions On-Board-Units over the next five years  The Austrian toll system relies upon the same core technologies proven in the Italian system;  Technical compatibility among existing ETC systems in EU shall be achieved by means of multi-standard On-Board-Units (Autostrade is the first producer of a Dual Mode On Board Unit - Telepass & CEN TC278).

13 From a Vignette System to Real Tolls: Revenues increase 82% increase introduction of dynamic tolling for commercial vehicles. The 82% increase in total toll revenues collected by ASFINAG in 2004 over 2002 is almost completely due to the introduction of dynamic tolling for commercial vehicles € million * Based on actual data for 2004 ( source: ASFINAG ) Revenues from Go-Boxes Annual Tax (until 2003) Revenues from Vignette Revenues from special toll sections ,0001,100 year Total: € 642 million * Total: € 1,170 million + 82%

14 Largest toll motorway Operator, directly managing 3,400 km (19% of the entire European toll network) Largest Electronic Toll Collection Operator, managing a system interoperable on more than 5,600 km of network, collecting tolls of 2.6 billion Euro (2004) for more than 20 operators in Italy Largest Contract and On-Board-Unit Issuer for electronic tolling, with 5.3 million users and contractual agreements with over 600 banks in Italy Europpass Project proves Autostrade leadership in ETC

15 Autostrade in Poland: Stalexport Autostrade’s S.p.A. Board of Directors approved the acquisition of a controlling stake (50% + 1 share) in the capital of Stalexport Group for a total investment of € 68 mln; Stalexport is a conglomerate active in motorway operation and steel product trade & distribution; It is listed on Warsaw Stock Exchange with current market capitalization of approximately € 335 mln; In 1997, Stalexport obtained a 30-year concession to adapt to tolling, re-vamp and operate the 61 Km. A4 stretch from Krakow to Katowice – the first toll road in Poland. A4 Krakow-Katowice (61 km., Concessionaire: Stalexport)

16 Autostrade in Poland: Tenders The Consortium Autostrade-Stalexport has reached the pre-qualification stage in the tender regarding the concession for the design, construction, finance, operation and maintenance of the A2 tolled motorway at the Strykow-Warsaw section (95 Km) Besides, Autostrade has been pre-qualified, in consortium with Stalexport and Polimex, to the 2 separate tenders for the design and installation of tolling and traffic management systems, as well as O&M the infrastructure on 2 motorway sections currently operated by the Polish Roads Agency (GDKKiA): A2 motorway, section Konin-Strykow (104 km.) A4 motorway, section Wroclaw- Katowice (187 km.) A2 Strykow-Warsaw (96 km.) (BOT tender, Autostrade- Stalexport prequalified) A2 Konin – Strykow (104 km.) (Tolling tender, Autostrade- Stalexport-Polimex prequalified) A4 Wroclaw-Katowice (187 km.) (Tolling tender, Autostrade- Stalexport-Polimex prequalified)

17 Transition path proposed for heavy vehicles tolling in Poland VIGNETTE -Current system on most of the Polish motorway network for heavy vehicles; - Not economically efficient because fees are not tied to effective use; - No Added revenues with additional kilometers traveled; - Compensation paid to Concessionaires is expected to exceed revenues from Vignettes already by 2009; - Not flexible (payments based only on period of use not on other utilization criteria); - Potential State Aid according to EU legislation; - Enforcement is a critical issue. ETC on already tolled motorways (currently only manual system) as a transitional step to install free-flow in a 2nd phase ETC reduces congestion and increases vehicle throughput at the toll stations; ETC reduces operating costs. Direct installation of Free-Flow Tolling for Heavy Vehicles on un- tolled motorways No need to spend money to install toll stations; No congestion at toll stations, less environmental pollution as cars do not have to stop; High enforcement rates (see Austrian case); Lower capital and operating costs compared to traditional toll infrastructures. Fairness (pay-as-you-go); Flexibility (allows congestion pricing based on zones or hours); More economically efficient for the State (+82% yoy revenues increase in Austria after real toll introduction); With distance-based charging, new kilometers result in new revenues. Advantages of Electronic Toll Collection/ETC compared to Vignette

0,95,164 s_mvoltan\Autostrade\Autostrade Investor Presentation (Final) - May 2004.ppt THANK YOU FOR YOUR ATTENTION ! Galliano Di Marco Head of International Development Autostrade S.p.A. Tel