The Board of Directors of Itway SpA, meeting held on April 29, 2017 to assess the financial statements for the fiscal year and the consolidated financial statements as of December 31, 2016 detected, at the reference date for the financial statements and to date, a situation of financial stress mainly related to the change in perimeter of the activities of the Company and of the Group resulting from the sale on November 30, 2016 of the Company's 20 year old distribution activity. The management of the Company, in line with the 2017-2021 industrial plan approved on December 14, 2016, has already implemented multiple measures the outcome of which, expected in the coming weeks, presumably will bring to, along with the reduction of the financial exposure already achieved in the first three months of the 2017 fiscal period, a further improvement in the shortterm financial position. Therefore the Board of Directors has decided to delay the approval of the financial statements for the fiscal period and the consolidated financial statements as of December 31, 2016 to a date that is subsequent to the April 30, 2017 deadline pursuant to article 154ter, paragraph 1, of Legislative Decree no. 58 of February 24, 1998 in order to be able to integrate the financial reporting for a better explanation to the market and to third parties of the situation in force and the corrective measures undertaken by Management, confiding moreover to have the possibility of finalizing in the short term one or more corrective measures currently being negotiated with third parties, with a positive impact on the financial situation underway.

The company reported preliminary consolidated and separate earnings results for the fiscal year ended December 31, 2016. For the full year, on consolidated basis, the company reported revenue of approximately EUR 91.6 million, with an EBITDA of approximately EUR 4.1 million. The consolidated negative net result for the 2016 fiscal year is of approximately EUR 62,000.

For the full year, the negative net result reported for the parent company is of approximately EUR 64,000.