Zignago Vetro Group Company Overview

March 2012

2

Zignago Holding Group Structure

65%

Santa Margherita S.p.A.

Wine producer

35%

100%

100%

Real estate

Zignago Power S.r.l.

Electricity producer

100%

Verreries Brosse

43,8 mln Euro

Vetri Speciali

135,3 mln Euro (*)

100% 50% 30%

Vetreco

(start up phase)

2011 figures

(*) figures referred to 100%

ITALIAN

STOCK EXCHANGE

(since 2007)

Zignago Holding S.p.A.

(MARZOTTO FAMILY)

Huta Szkla

Czechy

15,3 mln Euro (*)

Zignago Vetro SpA

170,7 mln Euro

79%

Zignago Immobiliare S.r.l.

3

Milestones

1950's Industrie Zignago Santa margherita ("IZSM") builds its first glass production plant (jars and bottles)

1979 IZSM establishes Zignago Vetro S.p.A. conferring its glass production plants

1987 Zignago Vetro acquires a plant in Empoli from an insolvency proceeding

1994-95 IZSM establishes Attività Industriali Friuli s.r.l. (51% owned) which acquires a plant from an insolvency proceeding

2002 Zignago Vetro acquires the assets of Verreries Brosse S.A.S. from an insolvency proceeding

2004 IZSM transfers its stakes in Attività Industriali Friuli and Vetrerie Venete ti newly formed Vetri Speciali

2006 Zignago Vetro acquires the 43.5% share in Vetri Speciali from IZSM

2006 IZSM sells its 100% share in Zignago Vetro to Zignago Holding

2007 Zignago Vetro becames a Listed Company in the Italian Stock Exchange (STAR Segment)

2009 Zignago Vetro acquires the 6.5% of Vetri Speciali

2010 Zignago Vetro establishes Vetreco Srl, a joint venture with Saint Gobain Vetri SpA and Ardagh Glass Srl for the treatment of recicled glass,

subscribing 30% share

2011 Zignago Vetro acquires 79% share of Huta Szkla Czechy

4

Competitive

Strengths Main Features Products 2011 (€m)

Our Presence in Selected Business Segments

Personalization

Small-run production

Vetri Speciali Highly customized specialty

glass containers produced in

very short runs with strong

focus on efficiency Sales €67,6m (50%)

Innovation

Quality Verreries

Brosse

Extraordinary high-quality,

tailor-made product offering

and efficiency

Focus on high-end perfumery

market Sales €43,8m

Zignago Vetro Flexibility

Flexibility, efficiency and

technical know-how key for

success

Focus on selected segments

of food & beverage and

cosmetics & perfumery

Quality Sales €170,7m

Food &

Beverage

Cosmetics &

Perfumery

Luxury

Perfumery

Market

segment

Personalization

Small-run production

Huta Szkla Czechy Wide range of personalised

products for niches of the

global market of glass containers

for cosmetics and perfumery,

and for food and beverages.

Sales €15,3m (100%)

Specialty

Containers

Food & Beverage

Cosmetics & Perf.

Note: 79% of HSC has been acquired on 03.03.11

5

International Presence with an Italian Footprint

Legend:

Production and distribution Distribution Production Zignago Vetro Verreries Brosse Vetri Speciali

New Jersey, USA Empoli (FI)

Fossalta di Portogruaro (VE)

Barcelona, Spain

San Vito al Tagliamento (PN)

Ormelle (TV)

Trento

Benicia, USA

Pergine Valsugana (TN)

Vieux Rouen sur Bresle, France

Paris, France

Trabki, Poland

Huta Szkla Czechy

6

What Makes Us Different?

Outperform market growth

Maximise ROCE & profitability

Competitive advantage

Unique positioning and economic returns thanks to a distinctive business model

7

88% 19% Vetri Speciali

95% 53% Verreries Brosse

93% 16% Zignago Vetro

Customer

loyalty1

(Revenues)

Concentration

rate of first

5 clients

Excellent Longstanding Client Relationships and Good

Revenues Visibility

1 Revenues from clients present also the 2 previous years (data referred to 2011)

Group

8

15,424,9

33,727,8

33,8 34,9

7,4%

10,4%

13,1%12,1%

12,8%12,0%

0

5

10

15

20

25

30

35

40

2006 2007 2008 2009 2010 2011

2%

4%

6%

8%

10%

12%

Net Results (€m) Margin (%)

Strong Financial Performance: Top of the Market Profitability

Revenues (€m) EBITDA (€m)

EBIT (€m) Net Result (€m)

53,864,3 69,9

62,370,7 76,9

25,7%

26,7% 26,4%26,7%27,0%27,2%

20

30

40

50

60

70

80

2006 2007 2008 2009 2010 2011

20%

25%

EBITDA (€m) Margin (%)

31,342,9 47,6

39,047,7 52,2

14,9%

17,8% 18,5%16,9%

18,0% 17,9%

05

101520253035404550

2006 2007 2008 2009 2010 2011

0%

5%

10%

15%

EBIT (€m) Margin (%)

209,4240,7 256,7 230,4

264,9 291,2

0

50

100

150

200

250

300

2006 2007 2008 2009 2010 2011

+14.9%

+6.7%

-10.2%

+14.9%

+10.0%

9

Strong track record in sales and profitability

0

50

100

150

200

250

300

1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

Euro (m)

Sales EBITDA

ZV Group

ZV Group

ZV

ZV

10

Solid Balance Sheet to Support Organic and External Growth

121,9 123,2151,9

176,1 183,5 196,6

0

20

40

60

80

100

120

140

160

180

200

2006 2007 2008 2009 2010 2011

Net Capital Employed (€m) Net Working Capital (€m)

Net Equity (€m)

43 38,1 41,849,1

42,350,3

20,5%

16,3%

21,3%

16,0% 17,3%15,8%

0

10

20

30

40

50

60

2006 2007 2008 2009 2010 2011

0%

4%

8%

12%

16%

20%

24%

Net working Capital (€m) on sales (%)

Net Financial Debt (€m)

61,377,2

89,5 93,4108,1 118,3

0

20

40

60

80

100

120

2006 2007 2008 2009 2010 2011

60,546

62,482,8 75,5 75,5

0

20

40

60

80

100

2006 2007 2008 2009 2010 2011

11

Cash Flow from Operations (before capex) (€m)

Cash Flow From Operations and Capex

Capex mainly depends on furnaces refurbishment and capacity increase

Pay-out ratio: 70% of Group net result

Capex (€m)

Net Capex

related to VS

acquisition

33,2 36,6

44,1 47,141,9

62,354,7

0

5

10

15

20

25

30

35

40

45

50

55

60

65

2005 2006 2007 2008 2009 2010 2011

16,7

11,0

20,5

42,2

28,8

36,0

22,4

21,5

4,5

7,6

0

5

10

15

20

25

30

35

40

45

2005 2006 2007 2008 2009 2010 2011

VS acquisition HSC acquisition

12

Healthy financial structure, EPS and dividends

EPS and Dividend distribution (Euro) Key financial structure ratios

0,4360,422

0,347

0,421

0,311

0,1930,310 (1)

0,3000,243

0,110

0,218

0,295

57%

70% 70% 71% (1)71%70%

0,000

0,100

0,200

0,300

0,400

0,500

0,600

2006 2007 2008 2009 2010 2011

30%

40%

50%

60%

70%

EPS Div per share Pay out %

1,3

1,11,0

0,9

0,70,6

1,1

0,7

0,9

0,6

1,0

0,7

0,4

0,6

0,8

1,0

1,2

1,4

1,6

2006 2007 2008 2009 2010 2011

Net financial debt / EBITDA

Net financial debt / Net Equity

(1) Board meeting proposal

The Management Board Meeting in March 2012 proposed a scrip issue of 1 share out of 10

(using available reserves of equity). The scrip issue will take place after dividend distribution.