Approved financial results as at March, 31 2013

• Revenues of Euro 8.7 million (Euro 23 million as at March 31, 2012)
• EBITDA of Euro 1.1 million (Euro 2.4 million as at March 31, 2012); EBITDA Margin of 13.1% (10.7% as at March 2012)Net profit of Euro 1.6 million (Euro 1.1 million as at March 31, 2012)
• Fixed Assets amounted to Euro 144.8 million (Euro 90.3 million as at 31/12/2012)
• NFP of Euro 112 million (Euro 62.3 million as at 31/12/2012)
• Net equity amounted to Euro 49.1 million (Euro 48.7 million as at 31/12/2012)

The Board of Directors of TerniEnergia, a company active in the renewable energy fields, energy efficiency and waste management, listed on Star Segment of Borsa Italiana, approved today the interim financial report as at March, 31 2013.

Stefano Neri, President and CEO of TerniEnergia, commented as follows:

 “The results of the first quarter of 2013 represent an intermediate stage in the evolutionary process of the Group with a simultaneous reduction in the turnover together with a growth in margins and earnings confirming the effectiveness of our strategic plan. TerniEnergia aims to evolve itself from player focused on the activity of plants construction for third parties, on the sale of the electricity produced from its own plants and in JV into a protagonist in a new manufacturing path characterized by the stability of the client for the EPC activity and the programmability of productive activity. Thanks to the “RA project – Renewable Assets”, presented to the market in recent days and aimed to set up a real estate fund specialized in the production of energy from renewable sources and in the green industry, TerniEnergia will have in the fund a strategic partner for investment support and growth. In the coming months, thanks to the financial resources coming from the new instrument aimed at qualified investors, TerniEnergia may, in fact, schedule a new growing season, intercepting the cycle of market development of solar and renewable energy that is gradually shifting from Europe to markets that are proving to be a huge potential.

The evolution of the business in Italy and abroad, is characterized also in this phase by a consistent operations activity, which shall have its financial effects in the future and which covers the opening of important working sites, with the construction of PV plants of approximately 35 MWp, as well as a plant for the recovery of organic waste in Puglia and second recovery plant of end of life tires. Because of these assumptions, the company expects a strong increase in revenues in the second quarter. Among the industrial activities carried out by our group, finally, there was an intervention for energy efficiency of about 800 area lights installed for a leading operator of scale organized distribution, in line with the forecasted increase of energy efficiency activity of the subsidiary Lucos Alternative Energies”

Consolidated results as at March 31, 2013

The Net revenues amounted to Euro 8.7 million with a decrease in turnover (Euro 23 million in the first quarter of 2012), influenced in part by the large size of working sites already opened which are still not reflected on the results of the period. This temporary situation represents the transition from an activity carried out mainly on the domestic market to a progressive internationalization of the Group in the necessary activities aimed to the development of PV EPC business abroad, which will bring out its results in the coming quarter. Because of the changed macroeconomic environment, of the penalizing national regulatory framework and the increasing difficulty of access to credit, TerniEnergia has also taken the decision to integrate its financial structure by participating in the establishment of an Italian closed-end real estate fund reserved for qualified investors. Such instrument of investment in a rapidly expanding sector, will aim to increase the industrial activity in a long-term time horizon, through the construction of industrial plants as well as through the subsequent management

The gross operating margin (EBITDA) amounted to Euro 1.1 million (Euro 2.4 million as at 31/03/2012). The EBITDA margin was 13.05%, a significant improvement compared with 10.7% at 31/03/2012

Net income amounted to Euro 1.6 million, an increase of 48% compared to the first quarter of 2012 (€ 1.1 million)

Net equity amounted to Euro 49.1 million (Euro 48.7 million as at 31/12/2012)

Fixed assets amounted to Euro 144.8 million (Euro 90.3 million as at 31/12/2012), up to 60.2% due to the acquisition of control of the company EnergiaAlternativa Srl, where TerniEnergia already held a share of 50%, which owns 12 industrial sized photovoltaic plants with a total capacity of 13.9 MWp

The net financial position amounted to Euro 112 million (Euro 62.3 million as at 31/12/2012). In line with the strategic policy declared by the Group, aimed to a progressive rationalization of investments, the increase in the NFP is determined by the acquisition of control of the company EnergiaAlternativa Srl, resulting in non-recourse debt consolidation related to the plants in full ownership. The non-current NFP amounted to Euro 71.3 million, while the short-term NFP is equal to Euro 40.6 million, Euro 19 million of which related to assets already in operation or in an advanced stage of work, which will be refinanced with medium – long term debt. The Net Financial Position / equity ratio, equal to 0.82 x, improves compared to the first quarter of 2012 (0.9 x) and remains below the unit, in a complete safety area and in line with the business plan baseline.

PRO-FORMA RESULTS AS AT MARCH 31, 2013

As at March 31, 2013, the Group had the joint control with – primary level partners – on some of the companies in joint venture having as their object the identification, development, financing, design, construction, commissioning, operation and management in Italy of industrial sized photovoltaic plants , and the sale of electricity produced by them.

Pursuant to the provisions of IAS 31 – “Interests in Joint Ventures”, the Group opted for using the equity method for accounting for joint ventures pointing out , therefore, the results of the Group in the consolidated and separated income statement line “Share of income JV “. The following table shows the results of the Group as at December 31,2012 incase the results of the joint ventures were accounted by using the proportionate method, which consists in detecting the portion attributable to all assets and liabilities, income and expenses arising from the financial statements of joint ventures:

This accounting method would not have resulted in any adjustment to the Group’s net profit in the period under review. In particular, it should be noted that the recorded results in terms of margins in the quarter were in line with those forecasted in the business plan baseline.

SIGNIFICANT FACTS OCCURRED AFTER THE END OF THE QUARTER

April 29, 2013: The Shareholders’ Meeting approved unanimously the financial statements and noted the presentation of the consolidated financial statements as at December 31, 2012.

The Shareholders’ Meeting also approved the distribution of a dividend of Euro 0.055 per ordinary share, gross of tax. The dividend shall be paid through authorized intermediaries, on May 30, 2013, with separation of coupon no.3 on May 27, 2013

The Shareholders’ Meeting also renewed its corporate bodies that are respectively as follows: Board of Directors –Stefano Neri(Chairman), Paolo Ricci,Fabrizio Venturiand Monica Federici (Administrators), Domenico De Marinis, Paolo Migliavacca and Mario Marco Molteni (Independent Directors), the Board of Auditors – Ernesto Santaniello (Chairman), Vittorio Pellegrini andSimonetta Magni(Statutory Auditors), Marco and Marco Chieruzzi Rosatelli (Alternate Auditors).

May 7, 2013: The Board of Directors appointed the Remuneration Committee, the Audit and Risk Committee, the Director in charge of the System of Internal Control and Risk Management, the Committee for Related Parties and the Lead Independent Director. The Board of Directors also proceeded to attribute responsibilities and powers. Specifically, the Chairman,Stefano Neri, was given the responsibility to follow: General Affairs, promotion of projects of strategic importance, internationalization of business relationships with subsidiaries. The Chief Executive Officer Paul Ricci (vice president) was given the responsibility related to: development, international expansion. The Chief Executive OfficerFabrizio Venturiwas given the responsibility relating to: Marketing, managing relationships with suppliers and customers, legal affairs, international expansion, technical management, security, environmental protection, personnel managing

May 7,2013: The Shareholdersmeeting signed a frame with Power Capital, a consulting company for investment, development of a project called “RA”, Renewable Assets, , aimed at structuring an Italian close-ended investment fund, involving real estate, to qualified investors, with the contribution of real estate and cash payments. The agreement was presented on the same date to the financial community at the headquarters of Borsa Italiana. In particular, the fund shall be specialized in the production of energy from renewable sources and in the green industry, proposing itself to represent a new investment instrument in a rapidly expanding sector. Objective of the operation will be to increase in a long-term time horizon the invested amount, through cash flows generated steadily by the operation of industrial plants. Power Capital, a company of professionals with proven experience and recognized track record in asset management, will act as advisor also for the fund’s structure, enhancing its expertise in the assessment and implementation of investment projects related to property. Raising capital is expected between Euro 50 and 100 million.

The Officer appointed for the preparation of accounting and corporate documents , Dott. Paolo Allegretti, states, pursuant to paragraph 2 of art. 154-bis of the consolidated Financial Act, that the accounting information that is contained in this press release corresponds to the results contained in the documents, books, and accounting records.