GRIMALDI GROUP

THE GRIMALDI GROUP’S MOS IN THE MED: A SUCCESS STORY

Civitavecchia, 8th of November 2010 GRIMALDI GROUP THE GROUP’S MAIN FIGURES (2009)

Aggregate Turnover:

• € 2.1 billion

Fleet:

• Vessels owned and managed: 100 • Type: Ro/ro, pure car & truck carriers, ro/pax & cruise ferries

Cargo transported:

• cars: 2,491,000 (CEU) • Trailers/containers: 1,313,000 (FEU) • Passengers: 2,683,000 GRIMALDI GROUP

AN EXTENSIVE MOS NETWORK GRIMALDI GROUP OUR GROWTH THROUGH THE YEARS

1999 Salerno / Valencia / Malta 2000 Livorno / Valencia 2003 Salerno / Tunis 2004 Civitavecchia / Barcelona 2005 Civitavecchia / Tunis 2006 Genoa / Catania / Malta 2007 Livorno / Barcelona Lines to Libya 2008 Purchase of Minoan Lines Delivery of new cruise ferries “Cruise Roma” and “Cruise Barcelona” Launch of the “Long Bridge” intermodal system 2009 New lines from Sardinia to Spain and Italian peninsula Launch of the direct service from Sicily to Greece Delivery of cruise ferry “Cruise Europa” 2010 Delivery of cruise ferry “Cruise Olympia”, ro/ro vessels “Eurocargo Genova” and “Eurocargo Malta” GRIMALDI GROUP CORPORATE SYNERGIES: THE “LONG BRIDGE” CONCEPT WITH MINOAN LINES

Livorno Ancona Barcelona

A “bridge” between the Iberian Peninsula and South Eastern Europe Operators: Grimaldi Lines Civitavecchia and Minoan Lines Igoumenitsa Service: Barcelona / Patras - Igoumenitsa (via Ancona & Livorno/Civitavecchia) Patras GRIMALDI GROUP

THE FLEET DEPLOYED IN THE MED MOS

 2 cruise ferries : 3,000 l/m + 2,300 pax

 2 cruise ferries: 3,000 l/m + 2,300 pax

 4 ro/pax ships: 2,500 l/m + 1,000 pax

 4 ro/pax ships: 1,500-2,100 l/m + 1,900-2,500 pax

 1 ro/pax ship: 2,000 l/m + 32 pax

 1 ro/ro ship: 2,300 l/m

 3 ro/ro Eurocargo vessels: 2,000-3,000 l/m

 2 new generation ro/ro Eurocargo vessels: 4,000 l/m GRIMALDI GROUP

THE ADVANTAGES OF THE SERVICES

. Frequent and reliable connection with regular schedules

. Competitive transit times and lower transport cost (compared to all road)

. Reduced wear of vehicles

. Possibility for drivers to rest before resuming their trip, complying with driving rules

. Avoidance of Alps, Pyrenees & Balkans crossing

. Less risk of road accidents

. Reduction of road congestion

. Less pollution and more environmental sustainability GRIMALDI GROUP

YEARLY GROWTH OF VOLUMES IN THE W. MED

- Total units transported

260.000*

250.000 226.384 194.462

200.000 164.636

150.000 123.956

80.608 Units 100.000 54.597

50.000

0

+14% * Forecasted (vs 2009) GRIMALDI GROUP

. EAST - WEST LINES: 2010 VS 2009 PRODUCTION (UP TO WEEK 43)

. The + 39% on the Livorno > Barcelona route is a satisfactory result for Grimaldi & Suardiaz Lines, achieved thanks to a wise commercial policy

. On the Salerno > Valencia route the traffic growth reflects the recover of volumes between Southern Italy and Spain after the 2009 strong decrease

. Livorno > Valencia yields a +61% growth, also thanks to the biggest capacity of the ro/pax vesselSorrento, temporarily deployed on the line GRIMALDI GROUP

. NORTH - SOUTH LINES: 2010 VS 2009 PRODUCTION (UP TO WEEK 43)

(up to LINES TO & FROM MALTA Apart from the slight decrease of the Civitavecchia > Malta route, both lines from Genoa and Catania performed well. The increased tonnage put on the lines, through the deployment of Eurocargo Genova & Eurocargo Malta, allowed to transport higher volumes of cargo. LINES TO & FROM SICILY Despite strong and aggressive competition, good performances were registered on all lines to Sicily. As happened with Malta, by deploying the new generation Eurocargos allowed to increase the transported units and to provide clients an even better service. The new ships give more space, more speed and more frequency, reducing fuel consumption compared to the previous vessels. LINES TO & FROM LIBYA The decrease in units from Genoa is mainly a result of an aggressive competition in the Libyan market. Small shipping companies with old ro/ro vessels offer connections to and from Libya. The changes in Libyan transport regulation (prohibition of importing vehicles older than 5 years) has not helped, nevertheless the line from Salerno yields a +17%

LINES TO & FROM TUNISIA All lines grew compared to previous year and the Salerno > Tunis – La Goulette route registered a +44% extraordinary growth.

LINES TO & FROM LIVORNO Starting from September 2010 Livorno has been introduced in the Short Sea North-South Lines with direct links with Catania and Malta (twice per week). This has been possible thanks to the introduction of the new twin vessels “Eurocargo Genova” and “Eurocargo Malta” which brought more capacity, more speed and more efficiency. GRIMALDI GROUP 2010 NEWS AND IMPROVEMENTS

Successful introduction of the new twin vessels Eurocargo Malta & Eurocargo Genova

More cargo capacity More speed More efficiency

OPENING OF NEW LINES!

LIVORNO > CATANIA

LIVORNO > MALTA

LIVORNO > LIBYA GRIMALDI GROUP

WELCOME TO MOROCCO IN OUR SHORT SEA NETWORK!

NOVEMBER NEW CONNECTION FROM LIVORNO AND VALENCIA TO TANGIERS 2010

The employment of M/v Ikarus Palace enhances to 4 sailings per week the frequency on the Livorno > Barcelona route further improving the service offered to our clients GRIMALDI GROUP

THANK YOU FOR YOUR ATTENTION