Company PresentationCable Conference

ABN AMRO - London, 10th January 2008

1

Agenda

Company Overview

Financials

Outlook

Appendix

•

•

•

•

2

A Global Cable Manufacturer

The Prysmian Group operates 54 plants, has subsidiaries in 34 countrieswith 12,599 employees (Sept 07) and sells its products worldwide

Production plant

Countries with physical presence

LTM 9M 2007 Sales% of Total SalesLTM 9M 2007 Adj. EBITDA1

% of Sales

Energy Cables & Systems Telecom Cables & Systems

€4,626m90%€451m9.7%

€533m10%€41m7.7%

1 EBITDA adjusted excluding non-recurring items.

Total

€5,159m

€492m9.5%

3

A Complete and Diversified Presence and Product Offering

¹ Other includes mainly Wire Rod business, closed at the end of 2006

By Business Area By Geography

Sales LTM 9M 2007 Euro Millions

Industrial

Trade &Installers

Other 1

Utilities

Latin America

APAC

EMEA

Total Energy: 4,626 Total Telecom: 533

NorthAmerica

37%

15%

3%

100% = 5,159 100% = 5,159

Telecom 10%

9%

13%

9%

Energy 90%

69%35%

• Largest single customer: <3% of total sales • Largest single country within EMEA: France, <12% of sales

By Customer By Country

4

• Focus onproducts andservice

• Limited productdiversificationwithin regions

• Regionalcompetition

VALUE ADDED

High

Medium

Low

Power Distribution

Businesses with a strongcontinental integration

Optical Cables & Fibre

Trade &Installers

Submarine

Global businessesNetworkComponents

Businesses with astrong local focus

TelecomCables

Copper

PROFITABILITY

High Voltage

Industrial

Clear Segmentation Strategy Focused on High Value-AddedProducts…

Manage for Cash High GROWTHLow Medium

• Focus onsolutions

• Diversificationand innovation

• Competition on aglobal basis

• Take selectiveM&Aopportunities

Look for ProfitableGrowth

Research Innovation &Product Development Operations Purchasing Logistics

• Product engineering drivenby customer needs

• Telecom: innovative fibresand products

• Continuous efficiencies onvariable costs: reducinglabour costs, minimizingwaste and reducing per unitraw material costs

• Tight centralized control onstrategic materials

• Excellence in customerservice: reliability and speed

Extra HV

5

275

248 26

025

325

3 259

268

206

205

195

193

198

195

19619

6205

050

100150200250300

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

E

2008

E

2009

E

2010

E

110

103

989183

65545355

22 2941 45

6691 95

020406080

100120

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

E

2008

E

2009

E

2010

E

6,5 6,7 6,9 7,1 7,48,2 8,6 9,1 9,4 9,8 10,1 10,5

7,7

0

2

4

6

8

10

12

1998 1999 2000 2001 2002 2003 2004 2005 2006 2007E 2008E 2009E 2010E

…To Benefit From Expected Solid Volume Growth Across End-Markets

Million Km Fibre Million Km Pair

Million Tons Conductor

Optical Cables Copper Cables

Energy Cables Reference Market

Telecom Cables Reference Market

CAGR: 3.6%

CAGR: 7.3%

• Historically low correlationwith economic cycle

• Growth driven by:• Investments in power grid

interconnections• Investments in power

transmission anddistribution

• Infrastructure investments

• Market growth driven by increased investment infibre access networks (FTTx) • Demand supported by investments in emerging markets

Source: CRU data, April 2007. Energy = Low Voltage and Power Cable; TLC = External Copper Tlc Cable, Singlemode Fibre Optic, Multimode Fibre Optic. For Optical cable producers

CAGR: 0.4%

CAGR: 4.3%

CAGR: 12.8%CAGR: (2.3)%

6

3.8773.407 3.725

5.1595.007

3.742

2004 2005 2006 LTM9M07

9M06 9M07

+8.2%*

9M07 Key Financials

Sales Adjusted EBITDA1

Net Working Capital

405

265

407

492

320

208

2004 2005 2006 LTM9M07

9M06 9M07

6.1% 7.1% 8.1%

442

680 676

490

2005 2006 9M06 9M07

13.1% 8.8%

Net Financial Position

Adjusted EBIT1

356

108

262

424

330

171

2004 2005 2006 LTM9M07

9M06 9M07

3.2% 4.6% 6.6%

892 8791.071

899

2005 2006 9M06 9M07

Euro Millions, % of Sales

¹ EBITDA and EBIT adjusted excluding non-recurring items.

* Organic Growth** Like for like excl. UK ROD business 10.5%8.6% 7.0% 9.2%

13.0% 13.1%

+9.3%*

9.5% 8.2%

3,475**

7

Agenda

Company Overview

Financials

Outlook

Appendix

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•

•

•

8

Profit and Loss StatementEuro Millions

1 Adjusted for closing of UK ROD business in December 2006 (€250m of sales in 9M 2006)2 Defined as: Adjusted EBITDA + Fixed costs3 Including in Q2 €39m profit from Purchase Price Adjustment with Pirelli4 Including in Q2 2007 Bank Fees write-off equal to €59m

9M 2006 9M 2007 F Y 2006

Sales 3,725 3,877 5,007YoY total growth 4.1% 33.8%

YoY like for like growth 1 11.6% 33.8%YoY organic growth 8.2% 9.3%

Contribution Margin2 620 726 827% on sales 16.6% 18.7% 16.5%

Fixed Costs and Others (Excl.Nonrecurring items)

(300) (321) (420)

Non recurring items 3 (19) 34 (36)

EBITDA 302 439 371% on sales 8.1% 11.3% 7.4%

Adjusted EBITDA 320 405 407% on sales 8.6% 10.5% 8.1%

EBIT 228 390 258% on sales 6.1% 10.1% 5.2%Non recurring items (34) 34 (72)Adjusted EBIT 262 356 330% on sales 7.0% 9.2% 6.6%

Financial charges 4 (66) (76) (110)

EBT 162 314 147% on sales 4.4% 8.1% 2.9%

Taxes (66) (76) (56)% on EBT 40.7% 24.2% 38.2%

Net income 96 238 91

Net income attributable to the Group 94 236 89

9

3,457

3,082

3,332

9M 2006 Chg. Perimeter UKROD

9M 2006 L-for-L Organic Growth Metals Effect Exchange Rate 9M 2007

-250

125

-11261

Sales Drivers Vs Third Parties

3,877

3,475

3,725

9M 2006 Chg. Perimeter UKROD

9M 2006 L-for-L Organic Growth Metals Effect Exchange Rate 9M 2007

-250

134

-16

284

393 393

420

9M 2006 Chg. Perimeter 9M 2006 L-for-L Organic Growth Metals Effect Exchange Rate 9M 2007

23

-50

9

Euro Millions

Energy Cables & Systems Division

+8.5%

Telecom Cables & Systems Division

+5.9%

Total Consolidated

+8.2%

10

1.4221.351

1.924

1.199

1.445

1.853

2004 2005 2006 LTM9M07

9M06 9M07

Utilities

183156

224

108

143

197

2004 2005 2006 LTM9M07

9M06 9M07

Euro Millions, % of Sales

Sales Vs Third Parties Adjusted EBITDA Adjusted EBIT

161

127

191

157

107

76

2004 2005 2006 LTM9M07

9M06 9M07

POWER DISTRIBUTION

• Higher profitability due to a bettergeographical and product mix

• Introduction of New technologyP-Laser cable to further improveprofitability in the medium term

• Significant industrial efficiencies

HIGH VOLTAGE

• New contracts awarded in keymarkets (USA, UK, China)

• Double digit growth driven by 12Morder book

• New High and Extra-High Voltageproduction facility in the strategicUS market by H109

+4.6%*

10.6% 12.9%11.5%11.6% 8.4% 11.3%9.4%9.9%* Organic Growth 9.9%8.9% 7.4%6.3%

SUBMARINE

• Market outlook remain strong

• Major new projects awarded:Cometa, Transbay

• Growing demand in Off-shorewind farms

• Capacity increase completed

• High visibility thanks to growingorder book

Highlights

11

Trade & Installers

1.3811.236

1.790

1.0291.189

1.645

2004 2005 2006 LTM9M07

9M06 9M07

119

82

156

4162

119

2004 2005 2006 LTM9M07

9M06 9M07

Euro Millions, % of Sales

Sales Vs Third Parties Adjusted EBITDA Adjusted EBIT

107

69

139

101

38

17

2004 2005 2006 LTM9M07

9M06 9M07

Highlights

• Selective growth and strong focus on geographical and product mix improvement

• Significant improvement in profitability confirmed due to:

• Strong performance in high profitable European and Extra-European countries

• Double digit growth in LSOH, Fire Performance

• High geographical diversification

• Marginal exposure to US construction market

* Organic Growth

+6.4%*

7.2% 8.6%6.6%8.7% 6.1% 7.7%5.5%7.8%5.2%3.9% 3.2%1.7%

12

• Strengthened market share in all strategic business segments:

• Strong performance in OGP (esp. China, Italy) with a strong focus on deepwater installations (Umbilicals in Brazil)

• Renewable energies: buoyant global demand in wind power (esp. Spain, China)

• Positive development in the highly profitable Crane business (esp. Italy, Germany)

• Significant growth in Mining confirmed (esp. Australia)

• High profitability increase driven by better business mix and leverage

50

32

52

19

34

25

2004 2005 2006 LTM9M07

9M06 9M07

Industrial

587

458

758

489

629

427

2004 2005 2006 LTM9M07

9M06 9M07

60

41

65

3946

33

2004 2005 2006 LTM9M07

9M06 9M07

Euro Millions, % of Sales

Sales Vs Third Parties Adjusted EBITDA Adjusted EBIT

Highlights

+19.9%*

* Organic Growth7.2% 10.2%8.7%8.6% 5.3% 8.5%6.9%6.9%8.0%7.6% 5.1%4.4%

13

• Optical cables:

• Lower market demand in USA impacting sales growth and profitability

• Growing demand in EMEA confirmed

• Increasing presence in APAC

• Renewal of multi-year agreement with Telstra in Australia

• Strengthening leadership in aerial cables growing market (esp.emerging countries)

• Price still under pressure

Telecom Division

Sales Vs Third Parties

3634

41

1719

39

2004 2005 2006 LTM9M07

9M06 9M07

Adjusted EBITDA

3332

36

(9) 1

35

2004 2005 2006 LTM9M07

9M06 9M07

Adjusted EBIT

420393

533

424

506

463

2004 2005 2006 LTM9M07

9M06 9M07

Highlights

7.2% 8.4%8.4%7.7% 6.6% 7.8%7.8%6.8%

+5.9%*

* Organic Growth 4.4%3.6% 0.3%n.m.

Euro Millions, % of Sales

• Copper cables:

• Keep focus on product miximprovement (XDSL)

• Increase customer base inEmerging markets

14

Balance SheetEuro Millions

9M 2006 9M 2007 F Y 2006

Net fixed assets 874 872 875

Net working capital 680 676 442

NWC as % on sales 13.0% 13.1% 8.8%

Provisions (175) (138) (140)

Net Capital Employed 1,379 1,410 1,177

Employee provisions 129 115 128

Shareholders' equity 179 396 170

of which attributable to minority interest 19 22 19

Net financial position1 1,071 899 879

Debt Shareholders Loans 41 - 42

Bank Fees (73) (22) (63)

Net financial position vs Third Parties 1,103 921 900

Total Financing and Equity 1,379 1,410 1,177

15

Cash FlowEuro Millions

1 Not including movements of the item “Securities held for trading” (included in Net Financial Position)

9M 2006 9M 2007 F Y 2006 LTM 9M 2007

EBITDA 302 439 371 508Price adjustment - (39) - (39)Gains/losses on disposals (1) (2) (8) (9)Net Change in provisions 3 (1) (3) (8)Cash flow from operations (before WC changes) 304 397 359 452

Working Capital changes (194) (196) 43 41Paid Income Taxes (50) (68) (56) (74)Cash flow from operations 60 133 346 419

Price adjustment - 39 - 39Net CAPEX1 (28) (46) (69) (86)Free Cash Flow (unlevered) 32 126 278 372

Financial charges (67) (65) (112) (110)Free Cash Flow (levered) (35) 61 166 262

Reserves distribution (90) - (90) -Shareholders Loan (Equity component) (51) (28) (51) (28)Net Cash flow (176) 33 25 234

Net financial position at the beginning of the period (892) (879) (892) (1,071)

Net cash flow (176) 33 25 234Other variations (3) (53) (11) (62)

Net financial position at the end of the period (1,071) (899) (879) (899)

16

Agenda

Company Overview

Financials

Outlook

Appendix

•

•

•

•

17

2007 Outlook

• Positive market outlook expected to continue

• Consolidate solid organic sales growth

• Maintain positive trends in Utilities and Industrial

• FY Adj.EBITDA: confirmed well in excess of €500m

• Continuous strong cash conversion