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Leonardo announces final tender results of offers to purchase certain USD denominated notes

Rome, Italy - The terms and conditions of the Offers are described in an offer to purchase (the “Offer to Purchase”) dated 15 November 2017

Leonardo SpA and its subsidiary Leonardo US Holding today announce the final tender results of the Company’s offers to purchase its outstanding 7.375% Guaranteed Notes due 2039 and its outstanding 6.250% Guaranteed Notes due 2040 guaranteed by Leonardo. The terms and conditions of the Offers are described in an offer to purchase dated 15 November 2017, as amended by Leonardo, press release dated 30 November 2017to increase the Maximum Tender Cap as described therein. Terms not defined in this announcement have the meanings given to them in the Offer to Purchase. The Offers expired at 11:59 pm. New York City time, on 13 December 2017. As announced in the Press Release, the aggregate principal amount of Tender Offer Notes validly tendered and not withdrawn by the Early Tender Time of 5:00 pm, New York City time, on 29 November 2017 exceeded the increased Maximum Tender Cap of $300,000,000 and the Company purchased $300,000,000 in aggregate principal amount of Notes on 4 December 2017. Therefore, no additional Tender Offer Notes will be accepted for purchase. Tender Offer Notes tendered and not accepted for purchase will be promptly returned or credited to the holder's account. In addition, as previously announced, the Company has elected to redeem the entire principal amount of its 6.250% Guaranteed Notes due 2019, of which $434,118,000 is currently outstanding, pursuant to the terms of the 2019 Notes. The 2019 Notes will be redeemed on 15 December 2017 at a redemption price equal to $1,087.78 per $1,000 principal amount, which includes accrued interest of $26.04, for an aggregate payment of $472,301,022.64, including accrued interest of $11,306,255.52. As a result of the tender offers and the redemption described above, the aggregate nominal amount of the Company’s outstanding US dollar denominated notes is being reduced by $734,118,000. Leonardo US Holding, Inc. is a Delaware corporation whose principal offices are located in Arlington, VA, USA. It is a wholly-owned subsidiary of Leonardo SpA. See for details AVIONEWS 1 and 2.

fra/pec - 1209078

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