CONFIDENTIAL JOINT VENTURE INVESTMENT HOLDING 2012 Joint Venture

CONFIDENTIAL JOINT VENTURE INVESTMENT HOLDING 2012 ® Joint Venture Investment Holding S. A. 1

JOINT VENTURE INVESTMENT HOLDING 1. COMPONENTS: BANKS, INSURANCE COMPANIES, BIG COMPANIES, INVESTMENT FUNDS and PRIVATE INVESTORS. CONFIDENTIAL 2. WORK WITH OWN: FINANCIAL ANALYSTS and BUSINESS, LEGAL OFFICES, PROFESSIONAL ENGINEERS and other specialists in various fields. 3. ATTENDING DIRECTLY (CEOs) or, if necessary, through EXTERNAL CONSULTANTS with function FINANCIAL CONTROLLERS, BUSINESS CONTROLLERS and, if necessary, with other technicians. 1. COMPONENTI: BANCHE, COMPAGNIE ASSICURATIVE, GRANDI AZIENDE, FONDI DI INVESTIMENTO PRIVATI ed INVESTITORI PRIVATI. 2. OPERA CON PROPRI: ANALISTI FINANZIARI e D'AFFARI, UFFICI LEGALI, INGEGNERI ed altri PROFESSIONISTI specialisti in vari settori. 3. PARTECIPA DIRETTAMENTE (AMMINISTRATORI DELEGATI) o, se necessario, attraverso CONSULENTI ESTERNI con funzione di CONTROLLORI FINANZIARI, CONTROLLORI DI AFFARI e se necessario, con altri tecnici specializzati. 2012 ® Joint Venture Investment Holding S. A. 2

ABOUT US BANKS INSURANCE COMPANIES I 1% ? I 2% ? SHAREHOLDERS 10 OR FUNDS OF INVESTMENT I 3% ? NEW HOLDING IF BUY 100% 2012 ® BIG COMPANIES I 4% ? • • • 51 % I 5% ? FINANCIAL ANALYSTS LEGAL OFFICES ENGENEERS BUSINESS CONTROLLERS FINANCE CONTROLLERS MANAGING DIRECTORS MANAGING (COMBINED) INVESTIMENTS (REAL EQUITY %) 5 PRIVATE INVESTORS CONFIDENTIAL ONE OF CHI SIAMO OLD COMPANY Joint Venture Investment Holding S. A. 3

OPEN EVENT “IACONA” - BUY 51% A 1 1/3 EVALUATION & OK pre Due Diligence G 1 1/3 Bio. Almond L 1 1/3 FOOD ENERGY BIO ENERGY INVEST 51% BUY KEEP SHARES • • • BOARD OF DIRECTORS DRIED Fruit & Bio. Energy 49% 1 MWp connected 0, 5 MWp on-course Existing Companies EXISTING STAFF ACQUISTO QUOTE DA SOCIETA’ "FILIERA LUNGA" DETENUTE DAL GRUPPO "IACONA” 2012 ® Joint Venture Investment Holding S. A. NEW MANAGEMENT ACQUISITION SHARES OF COMPANIES "LONG CHAIN" HELD BY THE GROUP "IACONA" 4 CONFIDENTIAL CASO APERTO “IACONA” - ACQUISTO 51%

INTERVENTI FINANZIARI CON INVESTIMENTI IN EQUITY FINANCIAL AID WITH INVESTMENTS IN EQUITY A 1% ? G 1% ? L 1% ? Bio. Almond F EOODNERGY COMPONENTS INTERVENTION CONFIDENTIAL EVALUATION BIO ENERGY 51 % 5 X-Company Basic Value 100 5 49% 10 NEW Company New Value ? ? ? BOARD OF DIRECTORS EXISTING STAFF OLD COMPANY NEW MANAGEMENT VT % = (V 1%+V 2%+V 3%) / 3 EVALUATION FOR EQUITY – IN % V 1 QUALITY OF THE INDUSTRIAL PROJECT V 2 CAPACITY OF SUCCESS "TECHNICAL AND COMMERCIAL" V 3 POSSIBILITY THEIR "FINANCIAL" CONSTRUCTION VT EQUITY % OF INTERVENTION 2012 ® VALUTAZIONE PER EQUITÀ - IN % V 1 QUALITÀ DEL PROGETTO INDUSTRIALE V 2 CAPACITÀ DI SUCCESSO "TECNICO-COMMERCIALE" V 3 POSSIBILITÀ PROPRIA "FINANZIARIA" DI REALIZZAZIONE VT % EQUITY DI INTERVENTO Joint Venture Investment Holding S. A. 5

CASO APERTO “IACONA” – EQUITY 51% OPEN EVENT “IACONA” – EQUITY 51% NEWCOM Bio. Almond FOOD ENERGY 80 % = (80%+90%+70%)/3 A 1 17% L 1 17% 80% incentivo 51% Basic Value 10 20% + 80% G 1 17% CONFIDENTIAL VT % = (V 1%+V 2%+V 3%)/3 20% BIO ENERGY COMPONENTS INTERVENTION COMPANIES (New Assets) 49% 17% BOARD OF DIRECTORS EXISTING STAFF EVALUATION FOR EQUITY – IN % V 1 QUALITY OF THE INDUSTRIAL PROJECT V 2 CAPACITY OF SUCCESS "TECHNICAL AND COMMERCIAL" V 3 POSSIBILITY THEIR "FINANCIAL" CONSTRUCTION VT EQUITY % OF INTERVENTION 2012 ® NEW MANAGEMENT VALUTAZIONE PER EQUITY - IN % V 1 QUALITÀ DEL PROGETTO INDUSTRIALE V 2 CAPACITÀ DI SUCCESSO "TECNICO-COMMERCIALE" V 3 POSSIBILITÀ PROPRIA "FINANZIARIA" DI REALIZZAZIONE VT % EQUITY DI INTERVENTO Joint Venture Investment Holding S. A. 6

REGOLE DI BASE Bio. Almond FOOD ENERGY BIO ENERGY BASIC RULES 49% 17% 17% GI EA MG GL IACONA JVIHuno 1. The expected components of the Top Mngt, are : GI, EA, MG and GL - or their legal reps. 1. I previsti componenti del Top Mngt, sono: GI, EA, MG e GL - o loro legali rappresentanti. 2. The "OPERATION" agreed, must be endorsed and accepted UNANIMOUSLY - without any doubt or misunderstandings. 2. L’ “OPERAZIONE” concordata, deve essere avallata ed accettata UNANIMAMENTE - senza alcun dubbio o incomprensioni. 3. The PARTIES, operate with "SHAREHOLDER AGREEMENTS" - signed BEFORE the passage of "company shares" - and accepted the strict procedures to be applied. 3. Le PARTI, operano con "PATTI PARASOCIALI" sottoscritti PRIMA del passaggio di "QUOTE Societarie" - ed accettato le rigide procedure da applicare. 4. The MEMBERS of the new board of directors, will play the following primary tasks: o <GI> SALES MANAGER - and - Supervisor of Management and Production. o <EA> BUSINESS CONTROLLER - and - P. R. Mngr and representative to third parties. o <MG> FINANCE SUPERVISOR & LOGISTICS. o <GL> ADMINISTRATIVE CONTROLLER - and – Legal Offices & third-party Investors Supervisor 2012 ® 4. I COMPONENTI del nuovo direttivo, ricopriranno i seguenti COMPITI PRIMARI: o <GI> DIREZIONE COMMERCIALE - e Supervisore su Conduzione e Produzione. o <EA> BUSINESS CONTROLLER - e - P. R. Mngr e rappresentante verso terzi. o <MG> FINANCE SUPERVISOR & LOGISTICS o <GL> ADMINISTRATIVE CONTROLLER - e – Supervisore Uffici Legali e Investitori terzi. Joint Venture Investment Holding S. A. 7 CONFIDENTIAL IACONA Corporate

J V I H CONFIDENTIAL UNO JOINT VENTURE INVESTMENT HOLDING Bio. Almond FOOD ENERGY BIO ENERGY DATA AND REFERENCES COMPANY - ARE SHOWN IN PRESENTATION OF INDUSTRIAL PROJECT *** DATI E RIFERIMENTI SOCIETARI - VENGONO ILLUSTRATI NELLA PRESENTAZIONE DEL PROGETTO INDUSTRIALE 2012 ® Joint Venture Investment Holding S. A. 8