• Founded in 1961, IMA is world leader in the design and manufacture of automatic machines for the processing and packaging of pharmaceuticals, cosmetics, food, tea and coffee. • Global pharmaceutical supplier with the widest range of state-of-the-art processing and packaging systems. • More than 5,100 employees, more than 2,600 of them based abroad. • The IMA Group closed 2016 with consolidated revenues of 1,310.8 million euros, an increase of 18.1% on 2015. • More than 86% of turnover is destined for export. • Worldwide sales and service network. • Cutting-edge R&D laboratories and continuous product innovation with more than 1,400 patents and patent applications in the world. • Listed on the Milan Stock Exchange since 1995 and starting from 2001 on the STAR segment. The Vacchi family is the largest shareholder, who holds 57% stake of IMA.

1. THE IMA GROUP
March 2017

2. Welcome to the IMA Group

3. IMA at a glance 4
Vision and Mission 5
Main steps 6
IMA in the world 11
Balanced Offer 13
Revenue Sources 14
Main customers 15
Trend of the sales
Consolidated income statement
16
17
Index
THE IMA GROUP
3

4.  Founded in 1961, IMA is world leader in the design and manufacture of
automatic machines for the processing and packaging of pharmaceuticals, cosmetics,
food, tea and coffee.
 Global pharmaceutical supplier with the widest range of state-of-the-art
processing and packaging systems.
 More than 5,100 employees, more than 2,600 of them based abroad.
 The IMA Group closed 2016 with consolidated revenues of 1,310.8 million
euros, an increase of 18.1% on 2015.
 More than 86% of turnover is destined for export.
 Worldwide sales and service network.
 Cutting-edge R&D laboratories and continuous product innovation with more than
1,400 patents and patent applications in the world.
 Listed on the Milan Stock Exchange since 1995 and starting from 2001 on the
STAR segment. The Vacchi family is the largest shareholder, who holds 57%
stake of IMA.
THE IMA GROUP
IMA at a glance
Innovation, awareness, ability
4

5.  IMA's philosophy is based on research and innovation. For more than 50 years,
the company has produced hi-tech automatic machines for the pharmaceutical,
cosmetics, tea, coffee and food industries.
 Its position of leadership is the result of significant investment in R&D, regular
and constructive dialogue with the end users in its sectors and the Group's ability to
expand internationally, conquering new markets.
 IMA’s work is based on the responsibility towards the community and awareness
of the important economic and social impact that may result from the decisions and
choices made.
 IMA fosters an environmentally friendly attitude with a view to achieving
sustainable development.
THE IMA GROUP
Vision and Mission
5

6. ‘60
• I.M.A. Industria Macchine Automatiche is established in Bologna in 1961. The first
machine designed by IMA is for the packaging of powdery products into folded paper
envelopes.
• The Vacchi family purchases 52% of IMA in 1963, promoting its industrial growth and
development. In those years IMA launches the production of automatic tea bagging
machines, a sector in which IMA is now the undisputed world leader.
‘70
• IMA starts manufacturing automatic machines for the packaging of pharmaceutical
products, by launching a blister machine.
‘80
• Setting up of branch offices in Europe and the USA and acquisition of well-known Italian
companies (Zanasi and Farmomac) manufacturing packaging machines for the
pharmaceutical sector.
THE IMA GROUP
Main Steps
1. Ideas take shape
6

7. ‘90
• Acquisition of Win.Pack, BFB, Libra and Precision Gears (India).
• Joint-venture with Omori (Japan), opening of a branch office in Beijing and setting up of
two joint-ventures in China.
• Listing of IMA on the Milan Stock Exchange in 1995.
• IMA's Quality System is awarded ISO 9001 Certification.
2000
• Acquisition of Kilian (Germany), GS Coating, Ico and Co.ma.di.s.
• IMA enters the STAR (Prime Quality Stocks) segment of the Milan Stock Exchange in 2001.
• Setting up of the third joint-venture in China.
• Opening of branch offices in Thailand, Spain and Brazil.
• Acquisition of the US Packaging Systems Holding, owners of Nova Packaging Systems,
world leader in counting machines and holding company of Swiftpack Automation (UK).
• Acquisition of VIMA Impianti, Zanchetta and PharmaSiena Service.
• Acquisition of the freeze-drying machinery business of the BOC Edwards Pharmaceutical
Systems Group, undisputed leader in this sector, and of Edwards Tianli Pharmaceutical
Systems (China).
THE IMA GROUP
2. Growth and consolidation
Main Steps
7

8. 2010 – 2012
• The freeze drying machinery business of the BOC Edwards Pharmaceutical Systems
Group is re-named IMA Life, with plants in the Netherlands, the USA and China.
• In 2010 IMA acquires a majority stake in GIMA, a packaging company based near
Bologna, Italy, which operates prevalently in food & beverage and personal care.
• In 2010 IMA signs an agreement for the acquisition of the “Dairy & Convenience Food”
division of the Sympak Corazza Group.
• In 2011 IMA completes the closing of the “Dairy & Convenience Food” division and
purchases the “Chocolate & Confectionery” business of the Sympak Corazza Group.
• In 2011 IMA and SACMI sign an agreement to share the newco “CMH”, dedicated to
the chocolate industry.
• Setting up of the Group's new organisational structure featuring two main brands: IMA
Industries (machines for the packaging of tea, coffee, food and cosmetic products) and
IMA Pharma (machines for the processing and packaging of pharmaceutical products).
THE IMA GROUP
Main Steps
3. Latest acquisitions and alliances
8

9. 2013
• Acquisition of a 40% interest in the ILAPAK Group (Switzerland).
• Acquisition of a 59% interest in Shanghai Tianyan Pharmaceutical Machinery (China).
• Sale of the entire investment in Stephan Machinery.
• Sale of the entire investment in IMA Kilian.
• IMA's investment in the ILAPAK Group rises to 51%.
2014
• IMA's investment in the ILAPAK Group rises to 81%.
• Sale of the investment in Zibo IMA Xinhua Pharmatech.
• Acquisition of a minority equity interest of CONTINUUS Pharmaceuticals.
• On 15 December 2014 IMA signs an agreement for the acquisition of BENHIL, ERCA,
HASSIA, HAMBA and GASTI (OYSTAR Group).
THE IMA GROUP
Main Steps
3. Latest acquisitions and alliances
9

10. 2015
• Agreement signed for the acquisition of a stake in Teknoweb Converting.
• Completion of acquisition of BENHIL, ERCA, HASSIA, HAMBA and GASTI (OYSTAR
Group).
• Completion of acquisition of a stake in Teknoweb Converting.
• Sale of the holding in CMH.
2016
• Agreement signed for the acquisition of the Medtech businesses of
Komax Group and Telerobot.
• Completion of acquisition of the Medtech business of Komax Group.
• IMA increases its interest in the Dairy&Food Group to 100%.
• Completion of acquisition of Telerobot.
• Agreement signed for the acquisition of an 80% interest in Mapster and a minority
stake in Petroncini.
• Agreement signed for the acquisition of a stake in MAI S.A.
(closing: 4 January 2017)
THE IMA GROUP
Main Steps
3. Latest acquisitions and alliances
10

11. 11
Production Plants
IMA manufactures equipment in 38 production plants located in Italy, Germany,
France, Switzerland, Spain, UK, USA, India, Malaysia, China and Argentina.
IMA: a synthesis of industrial experiences
from all over the world
THE IMA GROUP
China:
IMA Life Beijing
Shanghai Tianyan
Ilapak Beijing
India:
Hassia Packaging
IMA-PG India
Malaysia:
IMA Automation Malaysia
Italy:
IMA S.p.A.
Corazza
Gima
Gima TT
CO.MA.DI.S.
Pharmasiena
Ilapak Italia
Revisioni Industriali
Fillshape
G.S. Coating Technologies
Teknoweb Converting
Telerobot
U.S.A.:
IMA North America
IMA Life North America
Delta Systems & Automation
IMA Automation USA
France: Erca
Germany: Hassia; Gasti; Benhil; Hamba Filltec
U.K.: IMA Swiftpack
Spain: Erca-Formseal Ibérica
Switzerland: Ilapak International; IMA Medtech Switzerland
Argentina:
MAI

12. 12
IMA in the world: a global network
for high technology selling
Presence in about 80 countries with headquarters in Italy, branches in Europe, Middle
East, North America, South America, Asia and representative offices in Central and
East Europe and more than 50 local agents.
Sales Representatives
After Sales Assistance
IMA provides world-wide technical assistance through its headquarters in Italy,
branches and local agents.
Countries covered by branches
and representatives offices
THE IMA GROUP

13. Tea, Food &
Other
57.8%
Pharmaceutical
42.2%
Tea, Food &
Other
53.2%
Pharmaceutical
46.8%
13
Balanced Offer
THE IMA GROUP
20162015
Total sales: € 1,109.5 million Total sales: € 1,310.8 million

14. After Market
Sales
30.0%
New Sales
70.0%
Revenues by Geography
2016
14
Revenues by Nature
2016
• Significant share of the Group’s earnings generated by after-sale services, spare
parts and equipment, which are higher-margin and recurring in nature (30% of
overall revenues)
• Geographically well diversified revenue sources
Revenue Sources
THE IMA GROUP
Rest of
the world
9.8%
Italy
13.4%
Rest of
Europe
7.4%
E.U.
30.2%North
America
16.7%
Rest of
Asia
18.1%
China
4.4%

15. 15
Group profile
Some of IMA’s main customers
Abbott
Actavis
Ahmad Tea
Amgen
Arla Foods
Astellas
AstraZeneca
Bahlsen
Baxter
Bayer
Bel Group
Bigelow Tea
Boehringer Ingelheim
Bristol-Myers Squibb
British American Tobacco
Cadbury Adams
Chiquita
Chupa Chups
Cloverhill Bakery
ConAgra Foods
CooperVision
Danone
Delpharm
Eisai
Eli Lilly
Fabbri 1905
Ferrero
Gedeon Richter
General Mills
GlaxoSmithKline
Groupe Lactalis
Grünenthal
Group Bimbo
Group Siro
Halter
Hospira
Johnson & Johnson
JVC
Kraft
Krka
Land O’Lakes
L’Oréal
Laurens Spethmann Holding
Lipton
Lotte
Mars Incorporated
Menarini
Merck & Co.
Miratorg
Mission Foodservice
Mondelez International
Müller
Nestlé
NextPharma
Nice Pak
Novartis
Novo Nordisk
Nypro
Orimi Trade
Patheon
Pepperidge Farm
Perfetti Van Melle
Pfizer
Philip Morris
Procter & Gamble
Reckitt Benckiser
Roche
Sanofi
Sara Lee
Savencia
Seaquist Closures
Servier
Takeda
Technicolor
Tetley
Tetra Pak
Teva
The Coca Cola Company
Twinings
UCB
Unilever
Western Digital
Witor’s
Wrigley
Zambon
Zoetis

16. TEA, FOOD & OTHER PHARMACEUTICAL TOTAL
2012 Restated 2013 2014 2015 2016
Trend of the sales
16
Trend of the sales
Euro/million
Trend of the sales

17. 17
Consolidated income statement
31.12.2016 vs. 31.12.2015
IMA 2016 % 2015 % change %
Euro/million
Revenues 1,310.85 100.0% 1,109.54 100.0% 18.1%
Cost of sales (830.26) -63.3% (688.77) -62.1% 20.5%
Gross industrial income 480.59 36.7% 420.77 37.9% 14.2%
R&D costs (48.15) -3.7% (40.05) -3.6% 20.2%
Sales costs (128.12) -9.8% (115.33) -10.4% 11.1%
General and administrative costs (157.05) -12.0% (140.30) -12.6% 11.9%
Operating profit before writedowns/impairment/
non-recurring items (EBITA) 147.27 11.2% 125.09 11.3% 17.7%
Non-recurring items (5.93) -0.5% (9.47) -0.9% -37.4%
EBIT 141.34 10.8% 115.62 10.4% 22.2%
Net financial income (expense) 6.28 0.5% (1.04) -0.1% -703.8%
Profit (loss) from investments accounted for using the equity method 1.53 0.1% 0.51 0.0% 200.0%
Taxes (47.76) -3.6% (37.25) -3.4% 28.2%
Profit (loss) pertaining to minority interests (7.85) -0.6% (7.92) -0.7% -0.9%
GROUP PROFIT 93.54 7.1% 69.92 6.3% 33.8%
EBITDA BEFORE NON-RECURRING ITEMS 185.08 14.1% 157.52 14.2% 17.5%
EBITDA 179.15 13.7% 148.05 13.3% 21.0%

18. This document has been prepared by IMA for information purposes only
and for use in presentations of the Group’s results and strategies. The data
and information contained herein have not been independently verified.
For further details on IMA Group reference should be made to publicly
available information, including the Annual Report and the Semi-Annual
and Quarterly Reports.
No representation or warranty, expressed or implied, is made as to, and no
reliance should be placed on, the fairness, accuracy, completeness or
correctness of the information or opinions contained herein.
None of the company, its advisors or representatives shall have any liability
whatsoever (in negligence or otherwise) for any loss howsoever arising
from any use of this document or its contents or otherwise arising in
connection with this document. The forward-looking information contained
herein has been prepared on the basis of a number of assumptions which
may prove to be incorrect and, accordingly, actual results may vary.
This document does not constitute an offer or invitation to purchase or
subscribe for any shares and no part of it shall form the basis of or be
relied upon in connection with any contract or commitment whatsoever.
The information herein may not be reproduced or published in whole or in
part, for any purpose, or distributed to any other party.
By accepting this document you agree to be bound by the foregoing
limitations.
March 2017
Disclaimers
THE IMA GROUP
18

19. Thank you for your attention
19