1. 1 De Agostini Group Milan, month year

2. 2 1.The De Agostini Group 2.De Agostini Editore – Publishing business Contents De Agostini Group Division

3. 3 1.1 The De Agostini Group  DE AGOSTINI GROUP IS AN INTERNATIONAL FAMILY-OWNED FINANCIAL CONGLOMERATE, ACTIVE IN DIVERSIFIED INDUSTRIAL SECTORS (PUBLISHING, GAMING, MEDIA & COMMUNICATION) AND IN FINANCIAL INVESTMENTS. Division PublishingMedia&CommunicationGames&ServicesFinance ~2.4% Ass. Generali GTECH (100%) DeA Capital (58.3%) Libri Zodiak Media Group (89.155%) ATRESMEDIA(20.9%) Direct Marketing Publishing Digital IGT Italy Americas International IDeA Capital Funds SGR IDeA Fimit SGR (64.3%) Innovation RE (96.3%) (52.1%)

4. 4 1.2 De Agostini Editore Present in 30 countries with publications in 13 languages SALES CHANNELS: Newsstands, direct marketing, bookshops, e-commerce TARGET: B2C and B2B DE AGOSTINI PUBLISHING: collections, reference with digital content, from hobby courses to educational and edutainment products for children, from products flow packs and trading cards to books, cards and video, up to products for the latest digital device DE AGOSTINI LIBRI: illustrated works, books for children and teenagers, classics, essays, school texts, dictionaries, atlases, guidebooks, business to business market, publishing promotion and commercial services EDITIONS ATLAS FRANCE/SUISSE: Direct Marketing sector. Editorial and non-editorial products directly at home of customers. Editions Atlas also offers on line and distance training courses DIGITAL DE AGOSTINI: DeA Kids, DeA Junior and Explora pay Tv channels, Super! free Tv channel, Sapere.it portal. Digital De Agostini has the aim of developing and managing original editorial properties on digital platforms as part of kids, lifestyle and knowledge areas. www.deagostini.it Division

5. 5 1.3 De Agostini Editore CREATIVE CENTERS AROUND THE WORLD: Italy De Agostini Publishing Italia, De Agostini Libri, De Agostini Scuola, Utet, Edizioni White Star, Mutado France Editions Atlas Spain Editorial Planeta De Agostini Germany De Agostini Deutschland Greece De Agostini Hellas Russia De Agostini LLC (Russia) Japan De Agostini Japan Division USA De Agostini Publishing USA

6. 6 1.4 De Agostini Communications THE SECTOR COMPRISES THE GROUP’S INTERESTS IN THE AREAS “CONTENT PRODUCTION”, “DISTRIBUTION” AND “BROADCASTING” OF CONTENTS FOR TELEVISION, NEW MEDIA AND CINEMA ATRESMEDIA is among the leading radio-television group in Spain and operates in the most important areas of communication: ATRESMEDIA TELEVISIÓN (Antena 3, La Sexta, Neox, Nova, Mega ), ATRESMEDIA RADIO, ATRESMEDIA DIGITAL, ATRESMEDIA PUBLICIDAD e ATRESMEDIA CINE ZODIAK MEDIA is among the most creative in the world in the production and distribution of content for television and the new media. Zodiak Media operates in over 17 countries and controls significant brands like Magnolia, Marathon Media, RDF Television, Yellow Bird, Mastiff, KM, Zodiak Active, Lucky Day Productions, Jarowskij, Zodiak Vostok, Bullseye, Télé Images, Adventure Line Productions Division

7. 7 1.5 IGT Lottomatica, IGT’s company, since 1993 is concessionaire for the Italian Lotto game and the Instant and Traditional Lotteries (Scratch & Win) IGT is active in about 60 countries on six continents and the structure of the internal organization is divided into three geographic areas: Italy, Americas and International IGT, listed on the New York Stock Exchange, is the largest global player in the lotteries, gaming and services sector SUPPORTER OF THE ARTS, CULTURE, SOCIAL ACTIVITIES AND SPORT GAMES: Gioco del Lotto, scratch & win and national lotteries, sports events, video lotteries, betting, poker SERVICES: Cell phone crediting, payment of car license fees, TV licenses, tickets for events, processing, prepaid debit cards Division

8. 8 1.6 DeA Capital DEA CAPITAL, listed on the Milan Stock Exchange, is De Agostini Group's vehicle for alternative investments. De Agostini S.p.A. is the controlling shareholder, with a 58.3% stake. Portfolio targets: both direct investments (services sector, Europe), and indirect investments (funds of private equity funds). DeA Capital is also active in Alternative Asset Management. IDeA Fimit SGR is the italian leader in the Real estate asset management. DeA Capital controls the majority of the share capital and includes among its partners some of the major Italian social security institutions (INPS, ENASARCO). Innovation Real Estate, controlled by DeA Capital, is one of Italy’s leading operators in Real estate services. IDeA Capital Funds SGR, 100% controlled by DeA Capital, operates in the Private Equity fund management business and is the largest independent Italian management company of private equity funds of funds and direct investments through private equity direct funds with domestic and international exposure. Division

9. 9 1.7 Structure De Agostini Communications Zodiak Media: production and distribution of high quality content for television and new media. ATRESMEDIA: leading radio-television group in Spain. IGT IGT is the largest player in the lotteries, gaming and services sector in the world. Lottomatica, IGT‘s company, since 1993 is concessionaire for the Italian Lotto game and the Instant and Traditional Lotteries (Scratch & Win). DeA Capital Portfolio targets: both direct investments (services sector, Europe), and indirect investments (funds of private equity funds). DeA Capital is also active in Alternative Asset Management. IDeA Fimit operates in the real estate asset management. IDeA Capital Funds operates in private equity funds. Innovation Real Estate operates in real estate services. PUBLISHING MEDIA& COMMUNICATION GAMES AND SERVICES FINANCIAL ACTIVITIES De Agostini Editore De Agostini Publishing: the company is active in the international Partworks and Direct Marketing. De Agostini Libri: the company controls De Agostini Scuola, Edizioni White Star, Libromania. Editions Atlas France/Suisse: Direct Marketing and distance training courses, mainly in French and German speaking countries. Digital De Agostini: the division operates in sat. tv and DTT, on line and digital sectors. Division

10. 10 1.8.1 The Group’s History The Istituto Geografico De Agostini is founded in Rome by geographer Giovanni De Agostini Establishment of the new Istituto Geografico De Agostini S.p.A., its activities focused on the sector of books and cartography The Istituto is relocated to Novara The group’s publishing activities reach very high levels of expansion Public offer for Lottomatica S.p.A. perfected, acquisition of UTET The first “Calendario Atlante De Agostini” is released The entire company is acquired by the Boroli family The partners entrust direction of the group to Marco Drago De Agostini participates in the privatization of SEAT De Agostini celebrates 100 years of activity Acquisition of Toro Assicurazioni and a stake in Antena 3 Television The sub-holding De Agostini Editore S.p.A. is created, this controlling publishing activities. In July, De Agostini Scuola S.p.A. is established 1901 2005 1908 2002 19041946 1985-1996 1997 1998 20012003 2004 Division

11. 11 1.8.2 The Group’s History Acquisition of GTECH Holdings Corporation and sale of controlling interest in Toro Assicurazioni. The De Agostini Group acquires the 2,5% stake in Assicurazioni Generali 2006 2007 Acquisition of Magnolia and Marathon Group. IDeA Alternative Investments is established (from 2008 the company enters into DeA Capital) After the acquisition of svedish Zodiak Television, in November launch of Zodiak Entertainment. Launch of Digital De Agostini (television, on line, new platforms) 2008 2010 Lottomatica wins for 9 years the “Scratch&Win”. Zodiak Entertainment acquires RDF, company active in the sector of media content, and rebrands into Zodiak Media. Reorganization of De Agostini Editore in three business units: De Agostini Partworks, De Agostini Direct Marketing, De Agostini Culture De Agostini Editore reorganises its activities with the creation of two new companies, De Agostini Libri and De Agostini Publishing, in addition to Atlas Editions France - Suisse and the division Digital De Agostini). The process to merge First Atlantic Real Estate SGR into FIMIT – Fondi Immobiliari Italiani SGR was completed: the latter changed its name to IDeA FIMIT SGR 2011 2012 Antena 3 and La Sexta merge. De Agostini Publishing S.p.A. acquires 100% of Mutado, Creative Digital Agency. In March was founded Libromania S.r.l. from the partnership between De Agostini Libri and Newton Compton. De Agostini Editore launches the new “network kids” of TV channels: DeAKids, DeAJunior, Super! and DeASapere Division De Agostini Editore Group completes the disposal of the entire stake held by De Agostini Libri in Utet S.p.A. and, specifically, of the General Reference and high- end publishing. An 80% stake has been sold to FMR Art'è S.p.A. De Agostini Libri continues to manage the Classics and Essays division of Utet’s publishing business. 2013 2014 GTech announces that it has entered into a definitive merger agreement with International Game Technology, a global leader in casino and social gaming entertainment, headquartered in Las Vegas. Santé SA, 43% owned by DeA Capital, finalised the sale of its majority stake in Générale de Santé to Ramsay Health Care. On April 7, 2015, GTECH S.p.A. achieves the cross- border merger in Game Technology PLC. On the same day the new company IGT debuts on the New York Stock Exchange, becoming world leader in the gaming industry. In January, along with BC Partners and other shareholders, DeA Capital sells half of its own shares in Migros. 2015

12. 12 1.9 De Agostini S.p.A. - Financials (1.509) 31/12/07 (1.509) De Agostini Group financials: recent evolution. Division € mln20132012201120102009 Revenues4.9065.0975.0704.3174.154 EBITDA1.1551.1511.124876801 EBITDA margin23,5%22,6%22,2%20,3%19,3% Recurring EBIT637607556428355 Non recurring items, result from financial investments-198-167-214-632-300 Net financial charges-195-178-184-242-203 EBT244266158-446-148 Consolidated net profit9113486-551-215 Group net profit24 2-560-273 Shareholders' Equity4.0154.0784.1393.6183.294 Shareholders' Equity attributable to parent company2.4272.4432.5012.1692.311 Net Financial Position-4.011-4.124-4.296-4.585-4.154

13. 13 2.1 De Agostini Editore S.p.A. De Agostini Editore S.p.A., 100% owned by De Agostini S.p.A., is an Italian multinational company leader in creating content, products and services; it operates in 30 countries and publishes in 13 languages. De Agostini Editore is responsible for the co-ordination and strategic management of all the Group’s operating companies in the publishing sector in Italy and throughout the world. The company controls: De Agostini Publishing, a worldwide leader in Partworks business, with a production that ranges from sample collections to reference with digital content, from hobby courses to educational and edutainment products for children, from products flow packs to trading cards; De Agostini Libri that manages the publishing activities in Italian market, focusing on design and production of books and scholarly publishing and on the sectors of publishing promotion and commercial services; Editions Atlas France and Editions Atlas Suisse which operate Direct Marketing business, bringing deliveries directly to customers’ home; Digital De Agostini, a division created to strengthen and develop the presence of De Agostini on digital platforms (sat. Tv and DTT, on line, mobile). Division

14. 14 2.2 De Agostini Editore Around the World Argentina Australia Belgium Brazil Canada Chile China Colombia Cyprus Czech Republic Denmark Ecuador England Finland France Germany Greece Holland Hungary Japan Mexico New Zealand Norway Poland Portugal Russia Slovakia Spain Sweden Switzerland Uruguay Venezuela Italy (Novara, Milan, Turin) Division

15. Ufficio emittente 15 2.3 De Agostini Editore’s brands

16. 16 2.4 DE AGOSTINI PUBLISHING Sales channel: NEWSSTANDS, INTERNET 8 fully owned subsidiaries (London, Hamburg, Warsaw, Athens, Moscow, Kiev, Tokyo, New York) in 46 countries 48% GLOBAL MARKET SHARE Recent launches: Division Costruisci il tuo ROBI GLI ANIMALI DELLA PREISTORIA

17. 17 2.5 DIRECT MARKETING – EDITIONS ATLAS FRANCE/SUISSE / UK Sales channel: POST, INTERNET Present all over the world Creative centers: FRANCE, SWITZERLAND, UK Recent successes: Division STIPS THE TALKING PEN: A collection of interactive books for children ROYAL SPLENDOUR DOLLS A collection of porcelain dolls of European royals through the ages

18. Ufficio emittente 18 Companies: DE AGOSTINI LIBRI, WHITE STAR, LIBROMANIA BOOKS Children, Illustrated, Classics, Essays Recent successes: CARTOGRAPHY Atlases, maps, special projects 2.6 DE AGOSTINI LIBRI – Books and Cartography

19. Ufficio emittente19 2.7 DE AGOSTINI LIBRI - School Company: DE AGOSTINI SCUOLA Target: SCHOOL OF ALL KINDS – UNIVERSITY Subjects: ALL Marchi: Black Cat, Cedam Scuola, Cideb, Città Studi Edizioni, De Agostini, Garzanti Linguistica, Garzanti Scuola, Ghisetti e Corvi, Isedi, Liviana, Marietti Scuola, Petrini, Theorema, Utet Università, Valmartina Recent successes: DIGIMAT+ (Mathematics) GAME ON! (English) JEU DE MOTS, (French) ESPAÑOL,¡ QUÉ DIVERTIDO! (Spanish) New Products 2014 for secondary school - I level LA MATEMATICA A COLORI (Mathematics) GEOSTART (Geography) AVENIR (French Literature) New Products 2014 for secondary school – II level

20. 20 2.8 DIGITAL DE AGOSTINI Company: DE AGOSTINI EDITORE Target: CHILDREN, YOUNG MEN, GROWN-UP PEOPLE Objectives: TO DEVELOP DE AGOSTINI'S PRESENCE ON DIGITAL PLATFORMS SUCH AS SAT. TV AND DTT, INTERNET AND NEW MEDIA, BY IDENTIFYING FORMS OF COMMUNICATION THAT ENABLE DE AGOSTINI TO EXPAND ITS MARKET Launches: Brands: DEAKIDS, DEAJUNIOR, SUPER!, EXPLORA AND DEABYDAY Division WEB MAGAZINE DEABYDAY (www.deabyday.tv): practical guide about “how to do” of daily lifewww.deabyday.tv INTERNET PORTALS DeA learning: on-line language courses DeAKids, DeAJunior, Super! and Explora - Thematic channels for kids and teenagers on Sky and DTT NETWORK KIDS

21. 21 2.9 De Agostini Editore - Financials Division Euro Million2013%2012%Change Revenues1.123 100,0% 1.252 100,0% -10,3% EBITDA43 3,8% 47 3,8% -8,5% EBT11 1,0% 16 1,3% -31,3% Group Net profit (loss)(2) -0,2% 0 0,0% n.a. 31.12.2013 31.12.2012 Change Net invested capital338352(14) Net financial position(137)(147)10 Total Shareholders' Equity201 205 (4) Euro Million2013%2012%Change Partworks630 56,1% 747 59,7%-15,6% Direct Marketing353 31,5% 372 29,7%-5,0% Books86 7,6% 91 7,3%-5,9% Professional and training31 2,8% 32 2,6%-1,9% Digital21 1,9% 12 1,0%74,2% Other2 0,2% (2) -0,2%n.a. Total revenues1.123100,0%1.252100,0%-10,3%