1 1

Ansaldo STS

2013 First Quarter Results

Genoa – May 6th,2013

Analyst Conference call presentation

1

2 2

245.0

Order Backlog 5,433.8

Revenue 259.5

ROS 8.4%

Net Financial position (214.2)

1Q 2013 1Q 2012

-51.1%

+2.8%

-2.5%

-0.2 p.p.

+11.5%

% change

EBIT 21.7 -4.6%

Profit for the period / year 12.0 +0.8%

Net Working Capital (5.5) -672.7%

R&D 8.5 -14.1%

Total Headcount 4,101 -0.8%

New Orders 119.7

5,588.5

253.1

8.2%

(238.8)

20.7

12.1

31.5

7.3

4,068

1Q 2013 – Key data

(M€)

1,492.3

5,683.3

1,247.8

9.4%

(302.0)

117.1

75.7

(48.1)

32.3

3.991

FY 2012

3 3

1Q 2013 – Key data by business unit

Order Backlog

Revenue

ROS

1Q 2013 1Q 2012

EBIT

Operating Working Capital

R&D

Headcount (no.)

New Orders 197.8

2,493.5

155.5

8.9%

13.8

122.6

8.0

3,133

50.0

3,266.6

104.8

10.7%

11.2

(102.6)

0.4

556

Signalling Business Unit

Transportation Solutions

Business Unit

The above mentioned figures are gross of eliminations between business units.

(M€)

118.3

2,603.5

150.9

8.5%

12.9

1.4

3,304.9

106.8

9.1%

9.7

107.8 (58.0)

7.1

3,019

0.2

663

1Q 2013 1Q 2012

4 4

58%42%

30%

22%13%

31%

4%Italy

RoW

North America

APAC

RoE

Data gross of intra-business unit eliminations

Revenue: 253 M€ by Geographic area

Transportation Solutions

Signalling

1Q 2013 – Revenue

by Business Unit and Region

5 5

1Q 2013 – Main Orders

The list represents about the 85% of total order intake for 1Q 2013

(M€)

Italy France USA Components, Service & Maintenance Various 27.9

Spain Madrid - Llerida HSL Maintenance 2013-2015 ADIF 26.9

Turkey Metro Ankara - variation DLH 13.4

Sweden Metro Stockholm – Red Line variations S L 7.2

Germany Velaro Train Siemens 5.6

USA Los Angeles CTMA Microlok Replacement LACTMA 5.3

France LGVEE Phase 2 RFF 4.7

USA New Jersey PATH WTC Signal Recovery Work New Jersey PATH 4.1

Australia BMA Coal Loop and Spur Line - Caval Ridge Thiess Pty Ltd 4.0

Italy SCMT / CTC – variation orders RFI 3.5

6 6

10%

56%

22%

9%

3%

99%

1%

Transportation

Solutions

Signalling

Italy

RoW

North

America

APAC

RoE

New Orders: 120 M€ by Geographic area

Data gross of intra-business unit eliminations

1Q 2013 – New Orders

by Business Unit and Region

7 7

42%58%

24%

25%20%

18%

14%

Order Backlog: 5,588 M€

Italy

RoW

North America

Signalling

Transportation

Solutions

APAC

RoE

by Geographic area

1Q 2013 – Orders Backlog

by Business Unit and Region

8 8

2013 guidance and 2015 targets:

in line with fundamentals and strategic directions

(1) Including restructuring severance costs for 6,5M€ in 2012 and 2M€ in 2013

(2) After dividend payments

2013 Guidance

2012 Year End (M€)

2015 Targets

New Orders

Order

Backlog

Revenue

ROS (1)

Net Financial

position (cash)(2)

1,500 – 1,700

5,800 – 6,100

1,250 – 1,350

~ 9.5%

1,492.3

5,683.3

1,247.8

9.4%

(302) (300) – (320)

6,100 – 6,500

1,500 – 1,700

~ 10%

(340) – (380)

• Book-to-bill remains above 1.0 but

conservatively decreases over time

• 58% from backlog 2012

• Recovery in challenging environment

thanks mainly to efficiency programs

already in place

• Continued improvement even with

worsening payment terms

9 9 9

München

Country Main

Headcount Locations

ITALY Genoa 1,530 Naples

Turin

Potenza

FRANCE Les Ulis 506

Riom

SPAIN Madrid 123

UK London 3

GERMANY 4

SWEDEN Stockholm 42

USA - CANADA Pittsburgh

Batesburg

AUSTRALIA Brisbane 597

Perth,

INDIA Bangalore 201

MALAYSIA Kuala Lumpur 197

CHINA Hong Kong 65

Other Locations 35

TOTAL 4,068

765

Montreal

Bejing

0,1%

26%

19%

17%

38%

1Q 2013 – Total headcount end of March

Other

APAC

USA Canada

Rest of Europe

Italy

10 10

Five years free capital increase

01-Jan-07 01-Jan-08 01-Jan-09 01-Jan-10 03-Jan-11 02-Jan-1260

80

100

120

140

160

180

July 05, 2010:

I tranche,

free capital increase

July 04, 2011:

II tranche,

free capital increase July 09, 2012:

III tranche,

free capital increase

The free cap. increase is just an accounting operation with no effects on the financial structure of the company

Free capital increase plan: 2010 2011 2012 2013 2014

Mil of shares before the capital increase 100 120 140 160 180

Mil of shares after the capital increase 120 140 160 180 200

Factor of correction 0.833 0.857 0.875 0.889 0.9

This factor of correction (in 2012 is 0.875) must be used to make comparable the prices above periods of time.

For instance in order to compare the present value of the share with the one concerning one year ago, it is necessary to correct last price multiplying it for 0.875. In

fact the IPO offering price adjustment will be :

2010 2011 2012 2013 2014

i.e. Offering price adj., after each

tranche of free cap. increase 6.5

= 7.8x0.833

5.57

= 6.5x0.857

4.87 = 5.57x0.875

4.33 = 4.87x0.89

3.9 = 4.33x0.9

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Christian Andi, the Manager in charge of preparing the company’s financial reports,

hereby declares, pursuant to article 154-bis, paragraph 2 of the Consolidated Law on

Finance, that the actual accounting information contained in this presentation

corresponds to document results, books and accounting records

This Analysts Presentation contains forward-looking statements which are based on current plans and

forecasts of Ansaldo STS S.p.A. Such forward-looking statements are by their nature subject to a number of

risk and factors not foreseeable that could cause actual results to differ from the plans, objectives and

expectations expressed in such forward-looking statements.

These such forward-looking statements speak only as of the date on which they are made, and Ansaldo STS

S.p.A. undertakes no obligation to update or revise any of them, whether as a result of new information,

future events or otherwise.

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NB:The management of Ansaldo STS also assesses the business and financial performance of the Group and its business segments based on a

number of indicators not provided for by IFRS.

As required by CESR recommendation CESR/05 - 178 b, the components of each of the non-GAAP alternative performance indicators used in this

press release are defined below.

EBIT: i.e. earnings before interest and tax, with no adjustments. It excludes income and expenses from the operations of unconsolidated subsidiaries

and securities, and gains/losses on any sales of consolidated subsidiaries, which are recorded under “financial income and expenses”, or in the case

of profits/losses from shareholdings valued using the equity method, under the item “effects of the valuation of shareholdings at equity”.

EBIT Adjusted (Adj) is given by EBIT, as defined above, by following where applicable:

- Any impairment of goodwill;

- Amortization of the portion of the purchase price allocated to intangible assets in relation to business combinations,

as required by IFRS 3;

- Restructuring costs, defined plans and measures;

- Other operating expenses or income not ordinary, ie relating to events of particular are not related to the ordinary business.

Return on Sale (ROS): is calculated as the ratio of EBIT to revenue.

Free operating cash flow (FOCF): this is the sum of the cash flows generated by/used in operations, cash flow generated by/used in investments in

or disposals of tangible and intangible assets and shareholdings, net of cash flows from the purchase/sale of shareholdings that, due to their nature

or size, are considered “strategic investments”.

Funds From Operations (FFO): This is the cash flow generated by (used in) operating activities, net of the component represented by changes in

working capital.

Economic Value Added (EVA): is calculated as difference between EBIT, net of taxes and the cost of the average value of capital invested, of the

two periods being compared, measured on the basis of the weighted-average cost of capital (WACC).

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Operating working capital: It includes trade receivables and payables, inventories, work in progress, advances from customers and provisions for

risks and charges.

Net Working Capital: It is the operating working capital, net of other assets and liabilities.

Net Financial Position: Loan assets and cash and cash equivalents greater than loans and borrowings

Net Invested Capital: It is defined as algebraic sum of non-current assets, non-current liabilities and net working capital.

Debt (cash) or Net Financial Position: The calculation model is consistent with that provided in paragraph 127 of the recommendations of

CESR/05-054b implementing EC Regulation 809/2004.

New Orders: It is the sum of the contracts signed with customers during the period that satisfy the requirements to be entered in the order book.

Order Backlog: It is the difference between new orders and revenue for the period, net of the change in work in progress. This difference is added to

the portfolio of the previous period.

Headcount: It is the number of employees reported on the last day of the period.

Return on Equity (ROE): It is calculated as the ratio between the net income and the average value of the net assets in the two periods being

compared.

Research and development costs: They are the sum of the costs incurred for research and development and expensed sold. The costs for the

search expensed normally are those referring to the so-called "core technology", i.e. directed to the achievement of new scientific knowledge and / or

techniques applicable to different new products and / or services. Research costs are those sold commissioned by the Client in respect of which there

is a specific sales order and have an accounting and operational treatment identical to an ordinary supply (contract sales, profitability, invoicing,

payments, etc.).

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AFO - Audio frequency track circuit - Part of an Automatic Train Control

System (ATC), providing both train detection and transmission of digital

cab Signalling data for the Automatic Train Protection (ATP) function of

the ATC.

ATC — Automatic Train Control, or ATC, is an integrated Signalling

system that guarantees the secure movement of trains. ATC integrates

various subsystems positioned on-board and wayside. In addition to a

full interlocking system, a complete ATC system consists of three

subsystems: (i) ATP, (ii) ATO and (iii) ATS.

ATP — Automatic Train Protection, or ATP, is an ATC subsystem

responsible for the safe operation of a Signalling system. It imposes

speed limits on trains, both to maintain a safe operating distance

between them and to comply with safety and speed requirements. The

ATP system is designed to be a fail-safe (vital) system.

ATO —Automatic Train Operation, or ATO, is an ATC subsystem which

performs on-board, non-vital functions normally performed by a train

driver, including ensuring a smooth acceleration of the train to the

running speed, speed regulation and smoothly stopping the train at the

proper position at station platforms or in front of stopping signals. ATO

subsystems are primarily located on-board and represent one of the

principal components of a driverless system. Additionally, ATO

subsystems report vehicle health status to the central control offices.

ATS — Automatic Train Supervision, or ATS, is an ATC subsystem which

operates to control trains automatically by means of ATO and ATP, in

accordance with the railway timetable and regulations needs. This also

involves a CTC system.

Balise — An electronic beacon or transponder placed between the rails

of a railway as part of an Automatic Train Protection system.

CBI —Computer Based Interlocking, or CBI, is an Interlocking System (see below)

where the traditional wired networks of relays are replaced by software logic

running on special-purpose fail-safe control hardware. The fact that the logic is

implemented by software rather than hard-wired circuitry greatly facilitates the

ability to make modifications when needed by reprogramming rather than rewiring.

CBTC — Communication Based Train Control, or CBTC, is a system that allows for

the interchangeability of different technological systems in use on various metro

lines. CBTC can be understood as an attempt to create an ERTMS type standard for

the mass transit industry.

CTC — A Centralized Traffic Control system, or CTC, monitors the status of

Signalling on a line or network and displays the relevant status information to a

central operator, assists in the management of the line or network consistent with

the timetable and exercises control to prevent small schedule disturbances from

becoming traffic jams. CTC also notifies the operator of ATC equipment failures

and of failures in traction power and passenger station support facilities.

GNSS (Global Navigation Satellite System) satellite-based global navigation system,

can rely on US GPS (Global Positioning System) or Russian GLONASS (Global

Navigation Satellite System) or European Galileo system under development or

Galileo.

ETCS — The European Train Control System (ETCS) is a Signalling, control and

train protection system designed to replace the many legacy safety systems

currently used by European railways, especially on high-speed lines and main

conventional ones.

ERTMS — The European Rail Traffic Management System, or ERTMS, ERTMS was

introduced by the EU in 1992 as a means of creating a uniform system of command,

control and coordination of rail traffic to allow for ‘‘interoperability’’ throughout EU

territory. The ERTMS standard exists at three levels (ERTMS 1, 2 and 3) depending

on use, each distinguished by the type of wayside and on-board equipment used

and the manner in which this equipment communicates relevant data. Now ERTMS

is evolving to be used also with no standard GSM/R radio network, including ATO

and satellite localization as well

Glossary (I)

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EUROCAB / EVC — Onboard computer used to process ETCS

information.

FS — Ferrovie dello Stato S.p.A, or FS, the operator of the Italian railway

network.

HSL — High Speed Line, or HSL, refers to railway lines with capacity for

speeds in excess of 200 km/h (125 mph).

ICSS — Integrated Control & Safety System. Integrated Communication

Switching System.

Interlocking System (IXL) — An interlocking system is responsible for

the reliable and safe movement of trains inside a station, through

complex junctions and for the length of the line. The interlocking

system ensures that train movement is permitted only when a route is

available and the switches along this route are safely locked in their

position. In all cases the interlocking allocates a track portion or a route

to one train at a time, excluding all others.

LRT — Light Rail Transit, or LRT, refers to a form of urban rail transit

that utilizes equipment and infrastructure that is typically less massive

than that used for metro systems, with modern light rail vehicles usually

running along the system.

MicroLok® — Wayside control system consolidating vital and non-vital

control logic, data transmission and coded track circuits into a single

package (Interlocking).

MT — Mass Transit.

OTP — Optimizing Traffic Planner, or OTP, is a traffic management

system that permits real time monitoring of the positioning of trains

throughout a railway system. OTP optimizes system or network

capacity by safely minimizing the time between trains, thereby reducing

operating costs. OTP is primarily designed for those markets where

railway systems infrastructure is being used to full capacity..

PTC — Positive Train Control: Australia & North American freight railway

implementation (VSS, Vital Safety Server, manages both Interlocking and ATP

functions, by using satellite localization and object controllers only along the line,

interfaced with VSS throw open networks).

RBC — Radio Block Centre. All trains report their position to RBC that sends vital

Movement Authorities to the trains.

RFF — Réseau Ferré de France: manager, project leader and owner of the French

national rail network.

RFI — Rete Ferroviaria Italiana S.p.A., or RFI, is a subsidiary of FS (defined above),

responsible for managing the Italian railways infrastructure.

SCADA A Supervisory Control And Data Acquisition system, or SCADA, allows for

the supervision of the various subsystems at work in a railway or mass transit

environment. SCADA collects information from remote installations, transfers it

back to a central office, analyzes the information, takes appropriate action and

displays that data on a number of operator screens.

SCC – Automation system to supervise circulation, maintenance and diagnostic of

the overall mass transit and railway infrastructure

SCMT — Sistema di Controllo della Marcia del Treno: automatic train protection

system.

SNCF — Société Nationale des Chemins de fer Français. The French National

Railway Company is concerned with the operation of rail services for passengers

and freight, and the maintenance as well as Signalling of rail infrastructure owned

by RFF.

SSC —Sistema Supporto Condotta: Italian train stopping system. Less

sophisticated than SCMT.

TLC — Trainline Controller provides an interface between CBTC equipment and the

rolling stock’s conventional controls.

TTCS: Train Conformity Check System verifies the conformity of running Rolling

Stocks

Glossary (II)

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Our commitment to the theme of sustainable development is expressed in the countries where we operate, across five continents, through the dissemination of our corporate vision, attention to environmental, social, and promote our work through a climate of

cooperation with local cultures.

In coherence with our vision this year we have joined the Global Compact, a voluntary initiative launched by the UN to spread the culture of respect for human rights, labor, environment and the fight

against corruption.

Ansaldo STS SpA

Via Paolo Mantovani, 3

16151 Genoa, Italy

V.P. Investor & External Relations

Andrea Razeto

investorelations@ansaldo-sts.com

www.ansaldo-sts.com

Tel: +39 010 655 2068

Fax: +39 010 655 2055