Profile and Services January 2018 Contents Who we

Profile and Services January 2018

Contents Who we are 3 Areas of expertise 4 Valuations & Deals Risks & Controls Litigations & Disputes Accounting & Business plans Crisis Management Governance & Control Bodies Professionals Senior Partners Senior Consultants 6 7 8 9 10 11 12 13 16 17 18 Portfolio 19 Contacts 20 January 2018 2

Who we are │ Areas of expertise │ Professionals │ Portfolio │ Contacts Who we are “ATHENA Professionisti e Consulenti Associati” is an association of professionals established in Milan in 2010 in order to offer to its clients, simultaneously, skills, knowledge and expertise gained by its partners and consultants as professors, advisors and professionals. Our areas of expertise are integrated and operate in synergy, enabling Athena to better face topics under examination to offer to customers tailored and complete solutions. Our clients are of both companies and other private or public entities, with medium/large size - including leading banks, listed companies and financial institutions- or small size which can benefit from high-level standing services. ATHENA creates value for its customers, companies and other private or public entities, levereging on the skills and expertise gaines by its partners and consultants January 2018 3

Who we are │ Areas of expertise │ Professionals │ Portfolio │ Contacts Areas of expertise 1. Valuations & Deals 2. Risks & Controls Technical support and advisory to management team and owners in the context of different phases of extraordinary operations (acquisitions, contributions, mergers, spin-offs, etc. ), with a special focus on valuation and deal structuring. Governance structures design (groups included), Enterprise Risk Management (ERM) systems development, engineering of organisational models ex Legislative Decree 231/2001, control functions outsourcing. 3. Litigations & Disputes 4. Accounting & Business Plans Extrajudicial assistance on corporate and patrimonial litigations, technical support and definition of the strategic guidelines within civil and penal arbitrations and disputes, tax litigation, investigations aimed to identify frauds and abuses. Consulting, valuations and opinions on both separate and consolidated financial statements (IFRS-IAS and OIC), financial information and disclosure, business plan preparation assistance (seeds, start-up, scale-up, turnaround), auditing, financial planning and analysis. 5. Crisis Management 6. Governance & Control Bodies Technical support, management and advisory in precrisis and crisis circumstances, voluntary liquidations, bankruptcy procedures (with a focus on procedures under Banca d’Italia supervision), attestations. Appointments in governance and control bodies, such as: Board of Directors and similar, Board of Statutory Auditors and similar, Organismo di Vigilanza ex Legislative Decree 231/2001. January 2018 4

Who we are │ Areas of expertise │ Professionals │ Portfolio │ Contacts Areas of experties and business life cycle Start-up Maturity Growth Decline Valuations & Deals Risks & Controls Litigations & Disputes Accounting & Business plans Crisis Management January 2018 5

Who we are │ Areas of expertise │ Professionals │ Portfolio │ Contacts 1. Valuations & Deals Main projects and recent undertakings Pre-deal phase ü ü q Accounting and Financial Due Diligence to support SME acquisitions (renewable, gaming&betting, industrial, software and mechanical sectors) Target market analysis Scouting of target businesses Scouting of financial and strategic partners Deals and vehicles structuring Negotiations ü ü ü q Sell-side advisory M&A (electronics, small household appliances, healthcare, real estate and bio-plastics sectors, winery) Creation of links between investors and targets Support within negotiation phase with counterparts Financial and accounting due diligence Valuations ü ü ü Valuations of companies, going concerns, and interests Appraisals ex art. 2343 and 2465 under Italian civil code Determination of the exchange ratio within mergers/demergers Fairness opinions to support management decisions and for tax purposes Appraisals for tax revaluations of assets or interests Other valuations governed by specific legal rules and regulations Post-deal phase ü ü ü Business plan preparation Mentoring and consulting to management Purchase Price Allocation (PPA). January 2018 q Appraisals under art. 2343 -ter and 2465 c. c. (Sectors: apparel retail, department stores, food & beverage, social health, healthcare, agricultural machinery, banks) q Fairness opinions on the purchase price of businesses (Sectors: banking /financial, services, packaging, luxury department stores, project financing) q Valuation of businesses within possible divestment decisions (sectors: social health, automotive, defence) 6

Who we are │ Areas of expertise │ Professionals │ Portfolio │ Contacts 2. Risks & Controls Governance structures design (including groups) ü ü ü Design of organisational structures (roles, responsibilities and delegations) Design and implementation of Internal Audit and Financial Planning and Analysis Systems Support in the definition of the organisational structure and procedures aimed at obtaining certain authorisations, such as Bank of Italy permits. Enterprise Risk Management (ERM) systems development ü ü ü Assessment of the "as is" situation and definition of the ERM strategy Risk appetite definition and risk tolerance assessment Design of risk management models, risk self assessment processes and risk evaluation metrics. Design of organisational models ex Legislative Decree 231/01 ü ü Support in identifying the main risk areas (mapping) Support in the model preparation and implementation Definition of the information flow and relationship system regarding the Organismo di Vigilanza Training on Legislative Decree 231/2001 matters Outsourcing of control functions ü ü ü Internal audit and control functions under financial regulations Compliance under Law 262/2005 Financial Planning and Analysis January 2018 7 Main projects and recent undertakings q Definition of organizational structures and support to obtain the mandatory authorizations (SICAF / financial sector) q ERM systems development under the Italian Stock Market Self-Regulation Code (sectors: airport, retail, food & beverage) q Design of organizational models under Legislative Decree 231/2001 (areas: consulting, media, pharmaceutical, industrial) q Internal audit function outsourcing (sectors: financial, lighting/design, ICT) q Methodological and operational support to the compliance function under Law 262/2005 (retail sector)

Who we are │ Areas of expertise │ Professionals │ Portfolio │ Contacts 3. Litigations & Disputes Extrajudicial Assistance ü ü Opinions related to contractual clauses application Estimation of the value of the object of the dispute Opinions on the reliability of financial and accounting information Support in the definition of settlement agreements Arbitrations and litigations (civil and penal) ü ü ü Trial strategy definition assistance to lawyers Assistance in the litigation debate process Court and Party appointed experts opinions (CTP/CTU) Assessment of damages (also for liability actions) Participation in Arbitration Committees Investigation ü ü ü Accounting and financial investigations aimed at identifying frauds and abuses Investigation on subjects involved and related responsibilities Assessment of damages (also for liability actions) Tax litigation ü ü Technical support in the pre-litigation phase (tax audits, accertamento con adesione, mediazione fiscale, etc. ) Technical support at any stage of the procedure in front of the Tax Court January 2018 8 Main projects and recent undertakings q Extrajudicial assistance for dispute settlements related to the price adjustment clauses application q Party and Court experts appointment opinions in Civil and Penal litigations concerning: ü So called azioni revocatorie ü Liability actions ü Failure to comply with statutory / contractual clauses ü Business valuations and damages measurement ü Reliability of accounting information ü Misappropriation of public grants ü Anatocism and usury q Technical assistance in tax litigation (financial investigations, studi di settore, redditometro, accertamenti analitici)

Who we are │ Areas of expertise │ Professionals │ Portfolio │ Contacts 4. Accounting and Business plans Financial statement advice ü ü Impairment test of goodwill, assets or interests (under IFRS-IAS and OIC) Valuations for financial statements purposes Purchase Price Allocation (PPA) Financial derivatives instruments pricing: options, interest rate cap and floor Advice and opinions on separate / consolidated fin. statements ü ü ü Opinions on the correct accounting policy of specific events (IFRS-IAS and OIC) Support in the context of FTA of International Accounting Standards Accounting and financial check ups and financial statement analysis Financial information and disclosure ü ü ü Support in preparing the notes to financial statements Assistance in the management reporting preparation Opinion on the financial statement disclosure effectiveness Support in the preparation of Business plan ü ü ü Support in defining assumptions Preparation of economic and financial projections (start-up, development, and turnaround phases) Independent business plan review Auditing ü Support in carrying out specific audit procedures January 2018 9 Main projects and recent undertakings q Impairment tests ex IAS 36 on goodwill and equity investments (sectors: banking, insurance, waste management, residential heating, media) q Participative financial instruments and warrants valuation (sector: financial intermediaries) q Management reporting consulting for companies that are part of international groups q Preparation of business plans (sectors: construction, media, electronics, energy, bio-plastics, telecommunications, security, retail) q Support in audit procedures development (nautical sector) q Support in the preparation of the consolidated financial statement within 23 Municipalities under art. 11 bis Legislative Decree 118/2011

Who we are │ Areas of expertise │ Professionals │ Portfolio │ Contacts Main projects and recent undertakings 5. Crisis Management Consulting and technical support in crisis situations ü ü ü Debt restructuring and asset protection plans analysis and preparation Reorganisation and turnaround procedures structuring Settlement with creditors assistance Insolvency procedures ü ü ü Attestation of the accuracy of data and feasibility of plans under art. 67, c. 3, lett. d) l. f. and ex art. 161 l. f. Opinion on the reliability of financial information and the feasibility of debt restructuring agreements pursuant to art. 182 -bis l. f. Assistance in submitting applications to access certain to bankruptcy procedures (art. 182 -bis, 182 -septies, 161 l. f. ) Consulting in the context bankruptcy proceedings (with a focus on the identification of the default causes) Support to Bo. D in presenting the Investment Funds compulsory law liquidation request ex art. 57, c. 6 -bis, TUF, Legislative Decree 58/1998 Insolvency procedures under supervision of Banca d’Italia ü ü ü Commissario Straordinario (Amministrazione Straordinaria) Chairman/Member of the Comitato di Sorveglianza (Liquidazione Coatta Amministrativa) Commissario Liquidatore or Coadjutor/Consultant of the Commissario Liquidatore (Liquidazione Coatta Amministrativa) Liquidations ü ü ü q Report pursuant to art. 182 -bis l. f. (consumer credit sector) q Commissario Straordinario and Commissario Liquidatore (Prisma SGR), Chairman/member of the Comitato di Sorveglianza (Tank SGR, IMEL. EU, Istituto di Credito Sportivo) q Coadjutor/Consultant of the Commissario Liquidatore (Bank MB, RMJ SGR, Piazza Affari SIM, Helm Finance SGR, Profit Investment SIM, Profit SIM, Mobilmat IMEL, H 1 Fund, Helios Fund ) q Assistance in the liquidation of companies (sectors: real estate, airport) q Appointment as liquidator (sectors: financial, insurance brokerage) q Support in the preparation of the proposal and plan under art. 161, l. f. (sector: shipping) Assistance in company liquidation procedures Preparation of liquidation plans Appointments as liquidator (voluntary liquidation) January 2018 q Attestation ex art. 67, c. 3, lett. d) l. f. (food and beverage industry) 10

Who we are │ Areas of expertise │ Professionals │ Portfolio │ Contacts 6. Governance & Control Bodies Board of Directors / Sole Director • Cariparma • Emak • Ubi Pramerica • Calvi Holding • Bonatti • Cremasca Servizi • Linea Group Holding • Eurap Limited • Franzosi • Pasvim • Edison Energia • Assistenza Casa • Sersys Ambiente • Fenice • Elettroambiente • Tifeo Energia Ambiente • Platani Energia Ambiente • Palermo Energia Ambiente • Assirevi • Fondazione Gem • Fondazione Eucentre • Dalmata (Parmalat) • 3 M Italia • Holostem Terapie Avanzate (Chiesi) • L’Eco della Stampa • Sanofi Board of Statutory Auditors and similar • AICO • Tattile • Lakesight Technologies Holding • Fortuna • Maxima • Fondazione «Opera San Camillo» • Redaelli Tecna • BCC Retail • BCC Sistemi Informatici • Iccrea Banca. Impresa • BCC Risparmio e Prev. SGR • SDI Automazioni Industriali • DF Labs • CAMA 2 • Meregalli Impianti Termotecnici • Western Union Retail Serv. Italy • Compagnia Energetica Bellunese • E 2 i Energie Speciali • Edison Idrocarburi Sicilia • EDF EN Services IT • AMG Gas Organismo di Vigilanza ex Legislative Decree 231/2001 (if not already mentioned above) • Fondazione Piccolo Teatro di Milano • Ambromobiliare • CLX Europe • Infrastrutture Trasporto Gas • General Electric International January 2018 • Jenbacher • GE Avio • GE Water & Process Techn. Italy • Mellin • Danone • Terre d’Oltrepo’ • ENI Versalys • ENI Syndial • Gaz de France – Suez Energie • Long Term Partners • Tiscali • A. C. M. A. (Coesia) • Centrale del Latte di RM (Parmalat) 11 • Chiesi Farmaceutici • C. I. M. A. (Coesia) • Coesia • G. D. (Coesia) • Genzyme (Sanofi) • Interpump Group • IPI (Coesia) • Istituto Auxologico Italiano • Lesina Autonoleggio • Matthews International • Sasib

Who we are │ Areas of expertise │ Professionals │ Portfolio │ Contacts Professionals ATHENA team is made of around 15 professionals including partners and consultants. The Partners have renowned skills and expertise acquired mainly in academic (Bocconi University and Pavia Univerisity) and professional environments (within leading international auditing consulting and. Supervision from firms and Authority nomination ) ATHENA also works in close synergy with Studio Livatino & Associati (www. livatinoassociati. it), a leading professional firm based in Parma, specialised in corporate law, accounting and tax consulting. Through to its wide network, ATHENA can also rely on other highly recognised experts deriving from the professional and academic fields, which can be involved, when needed, on specific topics. January 2018 12

Who we are │ Areas of expertise │ Professionals │ Portfolio │ Contacts Prof. Alfredo Viganò Senior Partner alfredo. vigano@unibocconi. it Chartered Accountant - Albo di Milano: n. 1269 Charteres Auditor - Registro n. 60641 Graduated in Economia e Commercio - Università Bocconi Emeritus Professor of Accounting at Bocconi University, he is among Athena founding members and he is mainly involved in projects referring to Valuations & Deals , Accounting & Business Plans, Litigations & Disputes areas. He was Full Professor of Metodologie e Determinazioni Quantitative d’Azienda at Bocconi University , he has also carried out assignments related to deals and several appraisals related to civil and penal litigations, under appointment of the Court or of one of the Parties. He has been Chairman of the Organismo di Vigilanza of Metropolitana Milanese and member of the Board of Statutory Auditors of Pioneer Hi-Bred Italia. He is author of numerous academic publications including: "Il gruppo di imprese. Aspetti giuridici ed economicoaziendali", in Il bilancio consolidato secondo i principi contabili internazionali, 2004; "Il collegio sindacale nelle banche, Corporate governance, nuovo ruolo dei sindaci e controlli interni", 2005; "Il bilancio secondo gli IAS", 2006; "Valutazioni, letture, analisi", 2007; "Basic Financial Accounting", 2007. Dott. Dino Martinazzoli Senior Partner dino. martinazzoli@athenaassociati. it Chartered Accountant - Albo di Cremona: n. 317 Chartered Auditor - Registro n. 35994 Graduated in Economia e Commercio - Università Cattolica S. C. He is among Athena founding members and he is mainly involved in projects referring to Valuations & Deals, Accounting & Business plans and Litigations & Disputes areas, with a focus on consulting activities within deals , due diligence and valuation. He has been Partner of Pw. C for 25 years, where he initially worked within the Audit Division and later in the Advisory Transaction Services division, where he was also involved in several IPOs. He has also cooperated for over 20 years with Bocconi University - Accounting Department - as a contract professor in the auditing area. He is a Member of the Board of Directors of Calvi Holding, Bonatti and LGH and Sole Director of Cremasca Servizi: he is a Member of the Board of Statutory Auditors of Redaelli Tecna and of some Ambienta SGR investee companies. He has been Organismo di Vigilanza of 21 Investimenti and Piccolo Teatro, as well as Assirevi Board of Auditors Member. He is author of the publication: “Manuale di due diligence”, 2004. January 2018 13

Who we are │ Areas of expertise │ Professionals │ Portfolio │ Contacts Prof. Luigi Migliavacca Senior Partner luigi. migliavacca@athenaassociati. it Chartered Accountant - Albo di Pavia: n. 49 Chartered Auditor - Registro n. 38252 Graduated in Economia e Commercio - Università di Pavia Professor of Governance and Internal Control at the Economics Department and of Financial Statements and disclosure at the Law Department of Pavia University. He joined Athena in 2010, and he is mainly involved with Risks & Controls, Litigations & Disputes and Accounting & Business planss projects. He has been Partner in Pw. C for 25 years, where he worked in the Audit division, being involved in the audit of companies - including internationals and listed ones – as well as on deals, arbitrations and forensic audits. He is Member of the Board of Directors of Ubi Pramerica; he is Chairman or Member of the Board of Statutory Auditors or Organismo di Vigilanza in several entities: Edison Group, General Electric Group, Danone Group, Falk Group, Piccolo Teatro and Assirevi. He has also been appointed as Antitrust Monitoring Trustee within the Bompiani and Marsilio forced disposal by Mondadori and he was Member of the Board of Directors of the “new” Fondazione Maugeri. Among the publications he contribuited to there are: "Memento Contabile" e "Comparazione Principi Contabili Nazionali e Internazionali ". . Prof. Massimo Livatino Senior Partner massimo. livatino@athenaassociati. it Chartered Accountant - Albo di Parma: n. 373 A Chartered Auditor - Registro n. 32419 Graduated in Economia e Commercio - Università di Parma Professor at University and SDA Bocconi of financial statements, (internal) auditing, risk management topics, he is one of the Athena founders, where he mainly deals with activities in Riskss & Controls and Accounting & Business Plans areas, with a focus on design and monitoring of Enterprise Risk Management and Legislative Decree 231/2001 models. He’s Director of the SDA Bocconi Auditing Observatory. He is Member of Emak Board of Directors; he is Chairman or Statutory Auditor or Member of the Organismo di Vigilanza of the following: 3 M Italy, some companies of Parmalat Group, Chiesi Group, Sanofi Group, Coesia Group, Bonatti, Interpump Group and “Eco della Stampa”. He has been Chairman of Sesto San Giovanni BCC and Member of Metropolitana Milanese Organismo di Vigilanza. Among the several publications he contribuited to there are: "Luci e ombre dell’Enterprise Risk Management in Italia", 2016; "L’evoluzione da Risk Manager a Chief Risk Officer", 2013; "Principi e metodologie di auditing", 2012; "Auditing. Il manuale operativo per la revisione legale dei conti", 2010; "L’Enterprise Risk Management, dal governo dei controlli alla sostenibilità dei rischi", 2006. January 2018 14

Who we are │ Areas of expertise │ Professionals │ Portfolio │ Contacts Dott. Riccardo Andriolo Senior Partner riccardo. andriolo@athenaassociati. it Chartered Accountant - Albo di Como: n. 735 A Chartered Auditor - Registro n. 136818 Graduated in Economia e Commercio - Università Insubria He joined Athena in 2014, where he mainly deals with projects in Crisis Management and Risks & Controls areas, focusing on crisis management and resolution activity of entities under the supervision of Banca d’Italia and on strategic consulting for financial intermediaries. He is Commissario Liquidatore of Prisma SGR; he is Member of the Comitato di Sorveglianza of Credito Sportivo, he is Chairman of the Comitato di Sorveglianza of Tank SGR, he is sole Statutory Auditor or Member of the Board of Statutory Auditors and/or of Organismo di Vigilanza of some companies of ICCREA group and Ambromobiliare. He has been CEO of Banco Metalli Preziosi da Investimento and CFO of a company listed at AIM Italia stock market. He has also been Member of the Board of Statutory Auditors of Nuova Carife and Chairman of the Comitato di Sorveglianza of IMEL. EU. He has been co-author of several articles in fiscal, corporate and accounting areas published by Sole 24 Ore. January 2018 15

Who we are │ Areas of expertise │ Professionals │ Portfolio │ Contacts Dott. Giuseppe Viganò Partner giuseppe. vigano@athenaassociati. it Chartered Accountant - Albo di Milano: n. 6487 Chartered Auditor - Registro n. 141315 Graduated in Economia e Commercio - Università Bocconi He is among the founders of Athena, where he mainly deals with projects referring to Valuations & Deals, Accounting & Business plans, Risks & Controls areas, with a focus on valuation, auditing, due diligence and M&A support, monitoring of Legislative Decree 231/2001 organizational models. He worked for many years in Pw. C, taking care of Audit services for industrial and financial clients, including listed companies. He has worked for some years in Deloitte in the Financial Advisory Service division, where he dealt mainly with accounting and financial due diligence to support M&A deals. He’s Member of the Organismo di Vigilanza of Fondazione «Opera San Camillo» and Chairman of the Board of Statutory Auditors of some companies of a Group operating in the gaming and betting sector. Dott. ssa Francesca Marino Partner francesca. marino@athenaassociati. it Graduated in Economia Aziendale - Libera Università Cattaneo She joined Athena in 2015, she mainly deals with consulting projects in the Risks & Controls and Accounting & Business plans areas , with a focus on identifying, mapping and implementing main corporate processes and risks, on the design of Internal Audit Functions, on developing compliance systems to Sarbanes-Oxley Act, to the Law 262/2005 and to Legislative Decree 231/2001, on defining and implementing Enterprise Risk Management models. She joined Arthur Andersen in 2000 – then Deloitte - where she initially worked in the Audit division, later with Deloitte Enterprise Risk Services where she became Senior Manager in 2009. She performs , in outsourcing, the Internal Auditor function for Tiscali, Artemide, Indel B and Dagong Europe Credit Rating; she is Member of the Organismo di Vigilanza of some companies including Ambromobiliare and CLX Europe. January 2018 16

Who we are │ Areas of expertise │ Professionals │ Portfolio │ Contacts Prof. ssa Emilia Merlotti Senior Consultant emilia. merlotti@athenaassociati. it Chartered Accountant - Albo di Milano: n. 9019 Chartered Auditor – Registro n. 172035 Ph. D in Economia Aziendale e Management - Università di Pavia In Athena since 2010, she mainly deals with projects in Accounting & Business Plans and Risks & Controls areas. She is Lecturer at Bocconi University - Accounting Department. She is Director of the Master in Accounting, Auditing and Control (MAAC) and Member of the SDA Bocconi Auditing Observatory. Among the publications she contributed to: "Financial Accounting Workbook", dal 2013; "Scoring Firms’ Codes of Ethics […]", 2015; "Comunicazione di bilancio nelle società non quotate", 2013; “I servizi diversi dalla revisione contabile", dal 2009; "Fashion and Luxury Insight", 2015. Dott. Davide Sala Peup Senior Consultant davide. salapeup@athenaassociati. it Chartered Accountant - Albo di Como: n. 940 A Chartered Auditor – Registro n. 173713 Graduated in Amministrazione, Finanza e Controllo - Un. Bocconi In Athena since 2011, he is meanly involved in projects referring to Valuations & Deals, Accounting & Business plans and Litigations & Disputes areas, with a special focus on valuation activities and financial modelling (for financial statement purposes, in the context of litigations and for M&A). In the past he had a brief experience in Pw. C where he worked in the audit division of industrial clients. He is Member of the Board of Statutory Auditors of Fondazione «Opera San Camillo» and of some companies of a Group operating in the gaming and betting sector. Dott. Alessio Frigerio Senior Consultant alessio. frigerio@athenaassociati. it Chartered Accountant - Albo di Milano: n. 9227 Chartered Auditor – Registro n. 174481 Graduated in Amministrazione, Finanza e Controllo - Un. Bocconi In Athena since 2011, he is mainly involved in projects referring to Accounting & Business plans, Litigations & Disputes, Crisis Management areas, with a special focus on financial statements opinions, business plan preparation (also in the context of bankrupt procedures) and support within litigations. In the past he had a brief experience in Pw. C where he worked in the audit division of financial clients. He’s coauthor of the publication: "Verso una nuova metodologia nelle verifiche del collegio sindacale", 2016. January 2018 17

Who we are │ Areas of expertise │ Professionals │ Portfolio │ Contacts Dott. ssa Hatixhe Lapardhaja Consultant hatixhe. lapardhaja@athenaassociati. it Chartered Accountant Pratictioner Chartered Auditor Pratictioner Graduated in Legislazione, Auditing e Controllo – Un. Bicocca In Athena since 2015, she mainly collaborates on projects referring to consulting and support in the Crisis Management area, with a focus on bankruptcy procedures of financial institutions. Dott. ssa Nicole Pasquini Consultant nicole. pasquini@athenaassociati. it Chartered Accountant Pratictioner Chartered Auditor Pratictioner Graduated in Economia e Legislazione d’Impresa - Un. Cattolica In Athena since 2015, she is mainly involved in projects referring to consulting in the Risks & Controls area, with a focus on the preparation and monitoring of Legislative Decree 231/2001 organizational models, as well as on the outsourcing of internal control and governance functions (including those for financial institutions). Dott. Giovanni Rigo Consultant giovanni. rigo@athenaassociati. it Chartered Accountant Pratictioner Chartered Auditor Pratictioner Graduated in Management - Università Bocconi In Athena since 2016, he mainly collaborates on projects referring to consulting in the Valuations & Deals, Risks & Controls and Accounting & Business plans areas, with a focus on valuation activities. Dott. Adalberto Bellandi Consultant adalberto. bellandi@athenaassociati. it Chartered Accountant Pratictioner Chartered Auditor Pratictioner Graduated in Economia e Legislazione per l’Impresa - Un. Bocconi In Athena since 2017, after a brief experiene in KPMG (Tax & Legal division), he mainly collaborates on projects referring to the Risks & Controls area. January 2018 18

Who we are │ Areas of expertise │ Professionals │ Portfolio │ Contacts Portfolio 1. Valuation & Deals January 2018 2. Risks & Controls 3. Litigations & Disputes 4. Accounting & Business plans 19 5. Crisis Management 6. Governance & Control Bodies

Who we are │ Areas of expertise │ Professionals │ Portfolio │ Contacts Giorgia Sesia Office Manager giorgia. sesia@athenaassociati. it Milan Office Via Gian Carlo Castelbarco 2 20136 Milano Rome Office Via Giuseppe Gioacchino Belli 27 00193 Roma www. athenaassociati. it January 2018 20