Avio : 2018 FINANCIAL CALENDAR

2018 FINANCIAL CALENDAR AVIO S.P.A.

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Date	Event
15 March 2018	Board of Directors Approval of the 2017 Draft Financial Statements, the 2017 Consolidated Financial Statements and the non-financial information report
24 April 2018	Shareholders' Meeting Approval of the 2017 Draft Financial Statements and presentation of the 2017 Consolidated Financial Statements
10 May 2018	Board of Directors Approval of Additional Periodic Financial Disclosure as at 31 March 2018
11 September 2018	Board of Directors Approval of the Half-Year Financial Report as at 30 June 2018
8 November 2018	Board of Directors Approval of Additional Periodic Financial Disclosure as at 30 September 2018

Please note that Avio S.p.A. avails itself of the exemption pursuant to Art. 2.2.3, paragraph 3, letter a), of the Rules of the markets organized and managed by Borsa Italiana S.p.A. Therefore, Additional Periodic Financial Disclosure for the fourth quarter of 2017 won't be published, given that the Company will make available to the public the Annual Financial Report within 90 days of the end of the year 2017 - in accordance with Article 154-ter, paragraph 1 of Legislative Decree No. 58 of February 24, 1998.

Any amendments to the above calendar will be promptly.

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Investor Relations

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Avio S.p.A.

Avio is a leading international space launcher, spacecraft propulsion and space transport group. It has 5 sites in Italy, France and French Guiana, and employs over 760 people at the consolidated level. In 2016 its revenues totalled 292 million Euros.

The Avio Group manufactures the Vega launcher, with its subsidiary ELV (30% owned by the Italian Space Agency) as prime contractor. This makes Italy one of the very few countries in the world with the ability to produce a complete space launch vehicle.

Avio will build the new Vega C launcher and contribute to the new Ariane 6 launcher by providing the new solid engines and the Vinci and Vulcain liquid oxygen turbopumps.

The new solid propulsion engine, currently named P120C, for the Ariane 6 European launch vehicle and the new, more powerful version of the Vega launcher will be developed and built by Europropulsion (J.V. 50% Avio, 50% ASL). To create this engine and the new Zefiro 40 engine (entirely developed, built and tested in Italy by AVIO and designed for the second stage of the Vega launch vehicle), a new composite material made of pre-impregnated carbon fibre will be used. It will be made directly by Avio in Italy, in its research centres in Colleferro (near Rome) and Airola (near Benevento).

Avio has many years of experience in the design and construction of solid and liquid propellant propulsion systems for space launch vehicles and tactical propulsion. Avio built the liquid oxygen turbopump for the Vulcain cryogenic engine, as well as the two lateral solid propellant engines for Ariane 5, the first stage of the Aster 30 anti-missile defence missile. To date, Avio solid propulsion has been used successfully in all of Ariane's launches (which number over 230 in total) and all of Vega's launches.

In the field of satellites, the Avio Group has built and supplied propulsion subsystems for ESA and ASI to put into orbit and control over 30 satellites, including most recently SICRAL and SmallGEO.