Exor S.A.

(100% of capital)

The highlights of the financial statements of EXOR S.A. for the year ended December 31, 2013, prepared under the laws of Luxembourg, are as follows:

€ million	12/31/2013	12/31/2012	Change
Profit (loss) for the year	1,071.4	(105.8)	1,177.2
Equity	3,082.8	2,031.4	1,051.4
Investments and non-current other financial assets	3,544.9	2,171.1	1,373.8
Net financial position	(462.0)	(138.7)	(323.3)

EXOR S.A. closed the year 2013 with a profit of €1,071.4 million compared to a loss of €105.8 million in 2012. The positive change of €1,177.2 million is mainly due to higher net gains realized in 2013 of €1,016 million (of which €987.5 million relates to the disposal of the entire investment in SGS), lower impairment charges recognized on investments and financial assets of €159.2 million and other net positive changes of €2 million.

Additional details on the disposal of SGS are provided under “Significant events in 2013”.

At December 31, 2013 investments and non-current other financial assets comprise the following:

		12/31/2013
	Number of shares	% of capital	Carrying amount	12/31/2012	Change
Exor Capital Ltd	4,000,000	100	1,904.0	320.0	1,584.0
C&W Group Inc.	511,015	68.46	405.0	405.0	0.0
EXOR N.V.	450	100	300.0	0.0	300.0
Almacantar S.A.	147,680,355	38.29	171.9	113.9	58.0
Gruppo Banca Leonardo S.p.A.	45,459,968	17.37	73.6	76.8	(3.2)
Banijay Holding S.A.S.	351,590	17.09	35.3	35.3	0.0
The Economist Group	1,190,000	4.72	30.3	30.4	(0.1)
Sequana S.A.	4,348,000	17.38	24.8	38.6	(13.8)
SGS S.A.	-	-	0.0	1,016.3	(1,016.3)
Other			135.1	38.6	96.5
Total investments			3,080.0	2,074.9	1,005.1
Non-current other financial assets			464.9	96.2	368.7
Total investments and non-current other financial assets			3,544.9	2,171.1	1,373.8

Exor S.A.

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