- Engineering is an Italian IT company that provides system integration, consulting, outsourcing, and software development services. It has over 6,400 employees across 37 sites in Italy and 3 abroad. - In 2009, Engineering generated €724M in revenues, with international sales accounting for 7% of the total. EBITDA was over €93.6M. - The company has a diversified customer base of over 1,000 firms across several industries like healthcare, finance, telecom, utilities and more. Major clients include regional governments and large Italian companies. - Over the last decade, Engineering has grown organically and through acquisitions. Revenues have increased at a 16.5% CAG

1. Company Profile
Management Presentation
Star Conference, London
London Stock Exchange, 7 October 2010

2. Forward looking statement 1
This communication contains statements that constitute “forward-looking statements”, including, but
not limited to, statements relating to the implementation of strategic initiatives and other statements
relating to our future business development and economic performance. While these forward-
looking statements represent our judgments and future expectations concerning the development of
our business, a number of risks, uncertainties and other important factors could cause actual
developments and results to differ materially from our expectations. These factors include, but are
not limited to, (1) general market and macro-economic trends, (2) legislative developments,
governmental and regulatory trends, (3) competitive pressures, (4) technological developments, (5)
changes in the financial position or creditworthiness of our customers, obligors and counterparties
and developments in the markets in which they operate, (6) management changes and changes to
our Business Group structure and (7) other key factors that we have indicated could adversely affect
our business and financial performance which are contained in other parts of this document and in
our past and future filings and reports.
Engineering is not under any obligation to (and expressly disclaims any such obligations to) update
or alter its forward-looking statements whether as a result of new information, future events, or
otherwise.
For additional information on such risks, we ask you to consult Engineering’s filings with Borsa
Italiana and CONSOB and to consult applicable Italian laws.

3. Engineering at a glance 2
Outline
Engineering is the major Italian Information
Technology Group and a leading IT multinational in
Italy, Europe and Latin America. It is ranked as the
fifth Company in its sector over the Italian Market
according to annual revenues.
In 2009, revenues reached € 724.0 M, of which near
7% came from the international market and EBITDA
overtook € 93.6 M. The company employs more than
Belgium
6,400 professionals, roughly 1,900 external resources Irland
and boasts a customer portfolio of over 1000 firms,
with operations in 37 sites in Italy and 3 abroad. Italy
The Company enjoys a healthy financial positioning, Brasil
with a net debt of € 40.7 M at the end of June 2010
(0.43x EBITDA 2009).
The Group, has gradually evolved from a pure system
integrator to an Integrated IT Solutions and Services
Provider, with an offer which ranges from system CAGR 00-09 Italian IT Market 1.6%
integration and consultancy, outsourcing of IT
systems and business processes, application
management and software development.
These business lines, operating cross over the vertical
divisions, drive the Group in over-performing the
relevant market.
CAGR 00-09 Engineering Revenues 16.5%
Source Assinform, EITO, JCF

4. Engineering at a glance 3
Structure
# shares: 12,500,000
10%
Avg Mkt Cap 10: 291M
35% Cinaglia Family
23%
100% 51%
Amodeo Family
ENGIWEB SECURITY SITEL
Market
95% 100%
Outstanding Participations
32% OVER IT ENGINEERING TRIBUTI
Free Float 33%
100% 75%
ENGINEERING
ENGINEERING SARDEGNA
INTERNATIONAL BELGIUM
Engineering, listed since December 2000 on Milan Stock
Exchange FTSE STAR Segment, maintains a simple ownership 25%
structure with 67% held by the two founders (Mr Cinaglia and 70% 100%
NEXEN ENGITECH
Mr Amodeo), and 33% free float.
Major financial institutions focused on long-term investments 25%
continue to bet on the stock, aware of the strength of the 60% 100% 75%
Group Business Model and the reliability of the Management. ENGO ENGINEERING.IT ENGINEERING DO BRASIL
Since the IPO, the Group has oriented to a strategic path of
100%
external acquisitions, aiming to integrate assets and ENGINEERING 59.51% 65%
INTERNATIONAL INC.
knowledge with an increasing interest on foreign
Servizi Telematici Siciliani Sicilia e Servizi Venture
opportunities.
Ownership Structure and data as of 30 September 2010

5. Business Model 4
Organization
The Group is organised around five
vertical markets which, over their three
decades history, have gained
comprehensive insight into each business
Research and PA & HC Finance Industry TELCO Utilities and crafted solid relationships with
Development customers. This knowledge, coupled with
latest-generation technology, allows the
Company to provide its clients with an
System Int. & offer that is both complete and of value.
Consultancy
% 65 68 54 80 95
Engineering solutions serve the core of
the business operations of the customers
Outsourcing % 30 15 27 5 and require an essential capability of
integration.
Software % 5 17 19 15 5 The Research & Development
department, through 250 skilled staff,
transfers innovation to the factory and
manages projects in several software
ERP IT Security ECM environments.
6 Competence Centres, coordinated by
Plant Management the R&D, guarantee osmosis of expertise,
Managed Operations Broadband & Media
System information sharing and provide “best-
practice” services cross over the full
offering.
From FY2009 Segment Reporting

6. Business Model 5
Operations
53.1
System Integration and Consultancy
35.7
Outsourcing and AM
11.2
Projects delivered abroad Software
7% of Total Revenues
PA & HC
Industry* Finance
TLC
38.9 27.9 22.7 From Official 2010 1H Accounts
10.5 Split by Business Lines and Markets
% on Net Revenues
*Industry aggregates Utilities

7. Business Model 6
Customer Base
A customer portfolio of over 1,000 firms in Italy and abroad. Engineering has partnership with the largest Industrial and Credit Group who
have globalized their production and activities
REGIONE SICILIA
Top10
30 %
Others
……
70 %
Engineering 2010 estimates on net revenues

8. Economics 7
1H10 Results
Value of Production 359.0
2010 + 4.0%
2009 345.1
The Group confirms robust growth rates during the first half 2010 despite of sector estimates indicate, also for 2010, a reduction of ICT
expenditures (-3.1%).
The slightly decrease in margins comes from a heavy reduction of professional average daily rates, dropping down by roughly 10% vs
2009.
EBITDA 38.4 Margins %
2010 - 3.3% 11.9
11.0
2009 39.6
EBIT 28.2
2010 - 3.7% 8.1
8.8
2009 29.3
EAT 13.5
2010 -10.4% 4.5 3.9
2009 15.1 1.8%
2009 2010
Official 1H10 results compared with 2009 accounts. Data in mln €, Margins on net revenues

9. Economics 8
1H10 Results
30.06.09 31.03.10 30.06.10 NFP
NFP has been gradually worsening over the last 3 Long term debt 42.6
months, also if we compare the net debt with the (19.2)
(30.3) Short term debt 41.5
results of the first half 09. (40.7)
Cash and
43.5
That has been caused by a slowdown in the equivalents
payments inflow mainly due to the PA exposure
and the seasonal trend of the 2nd quarter.
Nevertheless the healthy financial positioning of
the Group generates a NFP/EBITDA ratio 0.46x
considerably low.
0.43x
0.20x NFP/Ebitda
+7.6%
Work in progress 401.9 432.6
Booking +1.9% 317.8 324.0
+5.0%
Net Revenues 333.4 350.0
Official 1H10 results compared with 2009 accounts 386.3 406.6 +5.2%
Backlog
NFP/EBITDA 2009 Ratio calculated on FY08 Ebitda.
NFP/EBITDA 2010 Ratio calculated on FY09 Ebitda.
Data in mln €

10. Strategic analysis 9
SWOT
Strengths Weaknesses
Quality of management Lack of geographic diversification
Strong commitment with customers Investment in WC due to PA exposure
Experience and successful track record
Business model with high entry barriers, broad
proposition and predictable evolution
EU Commission contracts Flat situation of the market which the Group works in
Consolidator over the italian ICT market thanks to a (ICT in Italy)
strong financial structure and a leadership position Stress on prices
Growing revenues visibility and better cash inflow as
an Outsourcing Processing Vendor relative to simple
System Integrators and/or Software Developers
Opportunities Threats

11. Strategic analysis 10
SWOT
We have been growing over the last 30 years thanks to an The CEO and the first line of TOP Managers of the Group
attentive strategy of internal and external investments. (Managing Directors of divisions/business lines and General
The proper balance between make or buy decisions has given Managers of related companies) are keen in understanding the
shape at the Group as it currently is. market moovements and trends.
The capability of the Management to integrate new assets, skills They share the culture of the Founders/Owners of the Company,
and people within the Group represents the grounds of the still totally committed to the business.
rigourous and flexible approach we always employ in deal
negotiations and restructuring processes.
Experience and successful track Quality of Management
record of acquisitions
Strengths
Business Model with high entry barriers,
barriers, Strong commitment with
broad proposition and predictable evolution customers
It doesn’t exist in our cluster of comparables any other We may show a success story of relationship with the main and
Company able to provide clients with the full array of solutions most important italian firms-banks and the public administration.
we are capable of. The top players in every different market/sector are provided by
Engineering with solutions and services since the 80’s.
The very good mix among software development, system
integration and outsourcing, generates a virtuos circle that Our market share and the retention rate of our clients, added up
enables Engineering to convey its broad proposition effectively to the customer satisfaction are the keys to understand our
and with high returns. leadership.

12. Economics 11
10Y Growth
746
727.7
737.8
Value of Production 724
Orders
CAGR CAGR
16.5% 14.7%
00 - 09 00 - 09
457.1 456
425,6
400
388,3
371
322,3 328
319
276,1 305
256,5 277
215,8 212
182,7
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
16.0%
Backlog
Engineering Group
13.4% 433
12.5% CAGR
19.4% 417
00 - 09
Atos
260 261
257
9.3% IAS 254
248
200
140
88
7.8%
EU ICT Companies EBITDA % 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Source Assinform, EITO, JCF From ENG Official Accounts 2000-2009, Data in mln €, Margins on net revenues

13. Economics 12
10Y Growth
Equity Assets 822 801
CAGR CAGR
8.3% 16.2%
00 - 09 264 00 - 09
234
232 512 516
217
457
195
176
374
165
137 332
129 132
232
217
207
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
74.8
302
Capital Employed 264
53.1
55.1
40.5
26.4
237 5.1
CAGR 227
21.1% 212
00 - 09
156
124
79 82
(17.1)
54
NFP (20.3)
Cash
(38)
(30)
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 NFP Debt
From ENG Official Accounts 2000-2009, Data in mln €

14. Economics 13
10Y Growth
737.8
Value of Production 724
457.1
425,6
388,3
322,3
276,1
256,5
215,8
182,7
2001 2002 2003 2004 2005 2006 2007 2008 2009
2000
IPO
12th December 2000
12.5 MLN shares (20% offered as free float)
float)
40€ / share
40€
100 M€ raised
From ENG Official Accounts 2000-2009, Data in mln €

15. Economics 14
10Y Growth
737.8
724
Organic
4.0%
00 - 01
457.1
Total
18.1% 425,6
00 - 01
388,3
322,3
276,1
256,5
182,7 215.8
25.7
2000 2002 2003 2004 2005 2006 2007 2008 2009
2001
Acquisition of Famula Online and Olivetti Sanità
40% Capital acquired
886 K€ paid – Revenues came in at 4.5M € (31.12.01)
100% Capital acquired
38.6 M€ paid – Revenues came in at 20.2 M€ (31.12.01)
From ENG Official Accounts 2000-2009, Data in mln €

16. Economics 15
10Y Growth
737.8
724
Organic
7.2%
00 - 03
457.1
Total
14.8% 425,6
00 - 03
388,3
322,3
256,5 276,1
215,8
182,7
25.0
2000 2001 2002 2004 2005 2006 2007 2008 2009
2003
Acquisition of Neta and constitution of BIP
100% Capital acquired
18.3 M€ paid – REVENUES came in at 19.9 M€ (31.12.03)
53% Capital owned 60% on 2007
Revenues came in at 5.1 M€ (31.12.03)
From ENG Official Accounts 2000-2009, Data in mln €

17. Economics 16
10Y Growth
737.8
724
Organic
7.6%
00 - 04
457.1
Total
15.2% 425,6
00 - 04
388,3
322,3
276,1
256,5
215,8 26.3
182,7
2000 2001 2002 2003 2005 2006 2007 2008 2009
2004
Acquisition of Overit and Caridata
100% Capital acquired
1.4 M€ paid – Revenues came in at 3.7 M€ (31.12.04)
100% Capital acquired
9.2 M€ paid – Revenues came in at 22.6 M€ (31.12.04)
From ENG Official Accounts 2000-2009, Data in mln €

18. Economics 17
10Y Growth
737.8
724
Organic
10.2%
00 - 05
457.1
Total
16.3% 425,6
00 - 05
388,3
322,3
276,1 14.8
256,5
215,8
182,7
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Acquisition of Trend and costitution of Nexen
100% Capital acquired
50 M€ paid – Revenues came in at 10.8 M€ (2H 2005)
70% Capital owned
1.5 M€ paid – Revenues came in at 4.0 M€ (31.12.05)
From ENG Official Accounts 2000-2009, Data in mln €

19. Economics 18
10Y Growth
737.8
724
Organic
10.3%
00 - 07
Total 457.1
14.0% 425,6
00 - 07
388,3 3.1
322,3
276,1
256,5
215,8
182,7
2000 2001 2002 2003 2004 2005 2006 2008 2009
2007
Acquisition of ProValue and disposal of BIP*
100% Capital acquired
4 M€ paid – Revenues came in at 3.1 M€ (31.12.07)
60% Capital owned and sold
14 M€ gained – Revenues came in at 35.7 M€ (31.12.07)
* Consolidated until 31.12.07. Deconsolidated since the beginning of 2008 (see the next slide) From ENG Official Accounts 2000-2009, Data in mln €

20. Economics 19
10Y Growth
737.8 724
Organic
10.3%
00 - 08
278.3
457.1
Total
19.1% 425,6
00 - 08
388,3
322,3
276,1
256,5
215,8
182,7
2000 2001 2002 2003 2004 2005 2006 2007 2009
35.7
2008
Acquisition of Atos Origin Italia and Xaltia
100% Capital acquired
45 M€ paid – Revenues came in at 266 M€ (31.12.08)
100% Capital acquired
15 M€ paid – Revenues came in at 12.3 M€ (31.12.08)
From ENG Official Accounts 2000-2009, Data in mln €

21. Economics 20
10Y Growth
737.8
Organic 724
9.6%
00 - 08
4.3
457.1
Total
16.5% 425,6
00 - 09
388,3
322,3
276,1
256,5
215,8
182,7
2000 2001 2002 2003 2004 2005 2006 2007 2008
34.1
2009
Acquisition of A&B and disposal of Softlab and Famula
Asset deal
Revenues came in at 4.3 M€ (31.12.09)
100% Capital owned and sold
Revenues came in at 34.1 M€ (31.12.09)
From ENG Official Accounts 2000-2009, Data in mln €

22. Financial Community 21
Analysts coverage
Specialist since 2008
Coverage since 2009
Coverage since 2007
Coverage since 2007 Coverage since 2003

23. Company Profile 22
Thanks for Your
attention
Engineering Ingegneria Informatica SPA
Via San Martino della Battaglia 56
00185 ROMA – Italy
Tel. +39 06 49 20 11
www.eng.it
Niccolò Bossi
M&A Director and Investor Relator
Strada 1, Palazzo F/7
20090 Assago Milanofiori, MI – Italy
Tel. + 39 02 66 72 21
Niccolo.bossi@eng.it