Slide 1: Investor and Analyst Call
INVESTOR AND ANALYST CALL MAY 20, 2020
Slide 2: Forward-looking statements
Certain statem ents and inform ation contained in this presentation These factors should not be construed as exhaustive and should be that are not statem ents or inform ation of historical fact constitute read in conjunction with the other cautionary statements included forward-looking statements, n
Slide 3: Agenda
INVESTOR AND AGENDA ANALYST CALL ▪ COVID-19 ▪ COMPANIES AND INVESTMENTS ▪ FINANCIAL UPDATE ▪ CLOSING REMARKS MAY 20, 2020 3
Slide 4: COVID-19
INVESTOR AND COVID-19 ANALYST CALL MAY 20, 2020 4
Slide 5: Priorities
PRIORITIES 1 Protect people’s health, their employment and their livelihoods 2 Establish a clear and effective process for managing the crisis 3 Preserve and increase liquidity MAY 20, 2020 INVESTOR AND ANALYST CALL 5
Slide 6: Solidarity
SOLIDARITY MAY 20, 2020 INVESTOR AND ANALYST CALL 6
Slide 7: Back to Work
BACK TO WORK SAFELY RETURNING TO WORK ✓ Adopting procedures for a progressive return to work, while maintaining remote working ✓ Introducing innovative protocols and tools dedicated to the reopening of plants and other activities (e.g. Ferrari’s “Back on Track” program) ✓ Working in close proximity
Slide 8: Companies and Investments
INVESTOR AND COMPANIES AND INVESTMENTS ANALYST CALL MAY 20, 2020 8
Slide 9: PartnerRe
PARTNERRE EXOR’S COMMITMENT TO THE LONG-TERM SUCCESS OF PARTNERRE A leading global, diversified and pure play reinsurer • Well positioned to capitalize in «hardening» reinsurance market: Highest Solvency ratio among peers, with strong balance sheet and liquidity positions LIFE & NON-LIFE HEALTH • Fo
Slide 10: FCA/PSA
FCA/PSA EXOR’S COMMITMENT TO THE LONG-TERM SUCCESS OF FCA/PSA Creating a leading group for the future of sustainable mobility • Confirmed shareholder support to merger: EXOR confirms its support alongside FFP to the creation of a stronger Group to win the challenges of future sustainable mobility •
Slide 11: CNH Industrial
CNH INDUSTRIAL EXOR’S COMMITMENT TO THE LONG-TERM SUCCESS OF CNHI A global leader in the capital goods sector • Leadership changes: EXOR swiftly acted to ensure proper leadership, supporting the search of a permanent CEO led by the CNHI governance committee • Business continuity: Actions to strength
Slide 12: GEDI Gruppo Editoriale
GEDI GRUPPO EDITORIALE EXOR’S COMMITMENT TO THE LONG-TERM SUCCESS OF GEDI A market leader in the Italian media landscape NEWSPAPERS MAGAZINES RADIO DIGITAL • Strengthened leadership: GEDI has established the foundations of a clear and coherent organisational structure to accelerate digital transform
Slide 13: Via Transportation
VIA TRANSPORTATION EXOR’S COMMITMENT TO THE LONG-TERM SUCCESS OF THE VIA PARTNERSHIP A highly innovative technology company specializing in dynamic, data-driven optimization of public mobility systems around the world • Trust in owner-operators in a time of crisis and uncertainty: Reflecting EXOR’s
Slide 14: Partnerships Characteristics
PARTNERSHIPS CHARACTERISTICS • EXOR will partner with successful • Co-founders and operators Daniel Ramot and PARTNER owner operators to develop their Oren Shoval are currently the largest companies for the next phase shareholders in the company • EXOR is a minority investor with some • Following it
Slide 15: Exor Family Companies Fund
EXOR FAMILY COMPANIES FUND IDENTIFY FILTER SELECT EXOR’S COMMITMENT TO THE FAMILY COMPANIES THEME FAMILY BUSINESSES 500+ ~100 ~50 • EFC Fund: EXOR has launched a fund designed to invest proprietary capital in high-quality publicly listed family companies • Internal and external studies confirm the o
Slide 16: Financial Update
INVESTOR AND FINANCIAL UPDATE ANALYST CALL MAY 20, 2020 16
Slide 17: Gross Debt Maturity Profile
GROSS DEBT MATURITY PROFILE GROSS DEBT ~€4.2bn Short-term ~€0.5bn Long-term1,2 ~€3.7bn in €mn in €mn New 10-yr €750 Private €650 issuance €550 €500 €500 Bank debt3 €290 €300 $170 €200 Nov-20 ¥10,0004 3.375% bond €200 2020 2022 2024 2025 2026 2028 2030 2031 2034 2038 Public bonds Private placements •
Slide 18: Estimated Cash at 2020YE
ESTIMATED CASH AT 2020YE in €mn 2019YE CASH IN (OUT) 2020E YE In addition: ~€310mn of cash equivalents €480mn committed credit lines ✓ ✓ ✓ Cash1 Ordinary Debt Investment Investment in Financial & Dividend Debt Cash6 dividends2 proceeds3 in Via GEDI General to repayment5 expenses4 shareholders 1) Inc
Slide 19: Closing Remarks
INVESTOR AND CLOSING REMARKS ANALYST CALL MAY 20, 2020 19
Slide 20: Our Priorities for the Next Years Remain Unchanged
OUR PRIORITIES FOR THE NEXT 10 YEARS REMAIN UNCHANGED • Continue Building Great Companies COMPANIES • Acquire New Companies • Develop our Financial and Seeds investment capabilities INVESTMENTS • Add investment ideas/themes • NAV per share to outperform the MSCI World index • Target Gross Debt of ≤
Slide 21: Q&A Session
INVESTOR AND Q&A SESSION ANALYST CALL MAY 20, 2020 21
Slide 22: Slide 22