Somec S p A : Company presentation - January 2022

COMPANY

PRESENTATION

JANUARY 2022

THE GROUP

INNOVATION-DRIVEN

WORK CULTURE

The legacy that SOMEC Group plans to protect and pass on is inherent in the Italian DNA of its people, interpreted as the energy for greater business innovation every day, and knowledge of the profession, which includes understanding materials and human capability.

The SOMEC Group is one of the world's leading

experts in the construction of complex turnkey projects.

VISION

The world has been recognising the history and culture of Italian construction solutions for more than 2000 years [Marc Vitruvio Pollione, 80 BC-15 BC], thanks to generations of Italian engineers and craftsmen who contributed to history and innovation with their work.

The vision of the

SOMEC Group is to become the hub of Italian

construction quality, bringing together both corporate and knowledge-basedprocesses, and industrial and craft expertise to create construction solutions sought by naval architects and civil engineers for the customers of complex turnkey projects around the world.

MISSION

The companies in the SOMEC Group strive for and place innovative tailored solutions at the centre

of project activities.

These solutions are the result of the technical, industrial and craft skills which their people possess.

The SOMEC Group's mission is to earn a reputation as a loyal and reliable partner of

excellence in Italy and abroad, and as one of the world's leading players in highly-specialisedconstruction projects.

2

VALUES

Many companies have practical project management and engineering capability, and achieve excellence thanks

to expertise in the materials selected and the skills used to implement projects.

The key value for the SOMEC Group lies in the freedom enjoyed by every

individual, be it an engineer, specialist technician or craftsman, to continually seek out innovative solutions and processes, which characterise every project in order to facilitate the most successful outcome.

HISTORY

FROM LOCAL COMPANY TO INTERNATIONAL GROUP

SOSSAI MECCANICA

IS ESTABLISHED BY

BROTHERS GILDO

AND ALDO

-

In the north-east of Treviso province - Italy the Sossai brothers expand the family business producing timber and aluminium windows and doors, and glazing.

REPUTATION GROWS, AS WELL AS THE ORDER BOOK IN THE MARINE GLAZING MARKET

-

Thanks to an increase in international orders for new cruise ships, SOMEC's reputation as a marine

glazing specialist keeps growing,

and results in services being added to refit glass enclosures on ships, or upgrade and refurbish ships already in service.

NEW

MANAGEMENT

-

The shareholder base is consolidated

with the arrival of Oscar Marchetto

and co-opting of the directors

Gian Carlo Corazza (COO)

and Alessandro Zanchetta (CFO), who remained after the senior management issues.

The team secures operations, manages losses and focuses on increasing shipbuilding orders.

BUOYANT

SHIPBUILDING

INDUSTRY

-

The team is successful and the sector flourishes.

Geographical scale increases,

as well as the criteria to gain entry onto supplier lists in

a shipbuilding industry dominated by a few companies in Europe, the United States and the Far East.

SOMEC TAKES OVER INOXTREND AND CREATES

A START-UP

-

The skill and specialist knowledge of suppliers such as SOMEC

is increasing. The continuous search for opportunities leads to the takeover of Inoxtrend,

1. Veneto-basedcompany offering professional kitchen equipment, particularly ovens.
   Hysea is established as a startup focusing on marine projects
   in public areas.

SOMEC TAKES

OVER TSI AND

COMPLETES ITS

SEASCAPE

STRATEGY

-

Total Solution Interiors (TSI)

is taken over, which specialises in the design, production and installation of

interior furnishings for public areas

on board cruise ships, completing the implementation of the Seascape strategy that started with Oxin and Hysea.

WITH A POSITIVE

OUTLOOK FOR

THE 2021 FINANCIAL 3 YEAR SOMEC LAUNCHES A NEW GROUP IDENTITY

-

The Board of Directors approves the purchase of a majority share in Bluesteel, a company specialising

in engineered systems for façades, and window and door systems,

and finalizes the purchase of 100% share of various subsidiaries (Primax srl, Inoxtrend srl and Hysea srl).

The half-yearly report for 2021 shows positive indicators compared with 2019. New communication and identity strategies are formed and published to raise

the SOMEC Group's new profile.

SOMEC Group obtains ESG (Environmental, Social & Governance) rating.

>	1978	2005
	1993	2008

2014 2013

2015

2017

2016

2018

2019

2021

2020

2022

SOMEC APPROVED

FOR SHIPBUILDING

VENDOR LIST

-

Somec enters the running for the Fincantieri contracts in nearby Venice Laguna. Obtaining approval for the shipbuilding vendor list is complex, but the company achieves its goal.

OWNERSHIP

CHANGE

-

The company has been suffering due to the recession resulting from the subprime market crisis

and various management decisions. Ownership passes to a group of local entrepreneurs.

WHERE SKY

AND SEA MEET

-

SOMEC launches its new business strategy to extend its cruise ship offering, by adding kitchen equipment and interior furnishings.

SOMEC TAKES

OVER OXIN

-

Thanks to an industry opportunity SOMEC takes over Oxin,

1. supplier of bespoke on-board kitchen systems. This specialist area involves the complex integration of on-board equipment, and has high market entry criteria given
   the strict hygiene and safety standards.

STOCK MARKET LISTING AND NEW TAKEOVERS

-

In May SOMEC is listed on

the Italian stock exchange (AIM) as an engineering company. Fabbrica LLC, a major player in engineered systems for building façades, is taken over. Alberto De Gobbi and

Claudio Daniele, who are

from Treviso and have

been in the States for 25 years, join the Group and SOMEC returns to its original business with a very promising opportunity in the USA. Primax is also taken over, which specialises in kitchen

and refrigeration equipment.

THE GROUP EXPANDS AND CONSOLIDATES

ITS CENTRALISATION

-

Lockdown provides management with an opportunity to consolidate the Group's centralisation of some departments, and to improve its synergistic approach.

The following are taken over during the year: Pizza Group, to integrate the kitchen equipment offering

with pizza oven hardware; Skillmax, to acquire interior design expertise; Gico Grandi Impianti Cucine,

to add expertise in catering and hospitality to that of on-board kitchen equipment.

Fabbrica Works is established,

where production specialises in glass envelopes.

SOMEC shares are traded on Euronext Milan.

THE HUB

OF ITALIAN

CONSTRUCTION

QUALITY

-

In the near future SOMEC

will be focusing on supporting and consolidating the Group's new vision

• to become a benchmark for the implementation of construction solutions for complex turnkey projects throughout the world.

THE GROUP

SEGMENTS AND COMPANIES

Buoyed by a reputation built on the results of corporate growth and development, the SOMEC Group has become a world of companies

specialising in three macro

segments:

TOTAL REVENUES (€m)	EBITDA (€m)
1H 2021	1H 2021
127,975		14,141
FY 2020	FY 2020
223,424		18,690

SUSTAINABILITY4

Somec has made a commitment to sustainability, a responsibility shared by every business area.

The SOMEC Group's business operations are reported through an ESG (Environmental, Social & Governance) evaluation

MANAGEMENT & SHAREHOLDING

TOGETHER FOR A SUCCESSFUL BUSINESS

Since 2013 the SOMEC Group management team have been committed to a long-term growth strategy, with a shared vision of maintaining the company's

standing as a hub of Italian construction quality, operating in its project

implementation segments, alongside each other in delivering and sharing the same operational model.

5

SHAREHOLDING STRUCTURE

OF SOMEC SPA

0.26%			24.41%
Treasury shares
					Free float
							0.33%
								Oscar
								Marchetto
								0.07%
								Giancarlo
								Corazza
							0.07%
								Alessandro
74.86%								Zanchetta
Venezia S.p.A.

OSCAR MARCHETTO CHAIRMAN & CEO

Italian and serial entrepreneur. Majority shareholder of SOMEC SpA, he heads the Group along with the shareholders and management team, with whom he pursues his vision for SOMEC as a major Italian construction hub, continually expanding towards ever broader horizons.

GIAN CARLO	ALESSANDRO	DAVIDE CALLEGARI
CORAZZA	ZANCHETTA	GROUP
BOARD DIRECTOR	BOARD DIRECTOR	GENERAL
& SOMEC NAVALE	& GROUP CFO	MANAGER
GENERAL MANAGER
Custodian of the Group's	With a degree in business	Following a degree in
shipbuilding DNA, he has	administration from	business administration
led SOMEC to a global	Venice Cà Foscari	from Venice Cà Foscari
leadership position in	University, he entered the	University he joined
the sector in 26 years of	world of glass surfaces	SOMEC as the Group's
activity, and can boast	and glazing by handling	Operations Director,
more than 320 successes	the Administration and	and also looked after
in ship-related orders	Finance department for	integration projects
completed and delivered	an Italian multinational	as General Manager
at home and abroad.	which is a major player	of various supporting
	in the production of	companies. He is currently
	continuous façades and	the Group's General
	glass envelopes for civil	Manager responsible for
	engineering projects.	the companies operating
	In 2008 he joined SOMEC	in the Kitchen Products
	as Financial Director and	and Bespoke Interior
	member of the Board	Design segments.
	of Directors, and is
	responsible for
	Administration
	and Finance.

DIEGO FRATTAROLO GROUP DIRECTOR - HR, ORGANIZATION & ICT

After graduating in business administration from Venice's Cà Foscari University he held the position of Director

of Human Resources, Purchasing and General Services, first for an engineering group in Friuli, then for a leading banking and financial group in North-East Italy. In 2020 he joined SOMEC as director with responsibility for

the Group's Human

Resources, ICT and

General Services.

SHAREHOLDING STRUCTURE

OF VENEZIA SPA

Oscar Marchetto	Giancarlo Corazza	Alessandro Zanchetta
Chairman	COO	CFO
(Fondaco Srl)	(Gicotech Srl)	(Ellecigi Srl)
	74.3%	15.7%		10.0%

Venezia S.p.A.