Capital Increase: offer on the stock exchange of unexercised subscrtiption rights concluded in advance

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL

Campodarsego (Padua), 31 May 2017 – Carraro S.p.A. (the “Company”), further to the press release issued on 26 May 2017 and to the notice of offer on the stock exchange of unexercised subscription rights published on 27 May 2017 in the "Milano Finanza" newspaper pursuant to Article 89 of the Issuer Regulations, hereby announces that during the first trading day of today, in accordance with Art. 2441, paragraph 3, of the Italian Civil Code, all 136,836 unsubscribed rights (the "Unsubscribed Rights") were sold, for a total amount of 90,995.94 Euros - during the offer of a maximum of 33,726,630 newly issued ordinary shares (or category "B" shares, at the discretion of each subscriber) of the Company (the "Shares") – which allow 106,428 Shares to be subscribed.

Exercise of the Unsubscribed Rights purchased within the scope the offer on the Stock Exchange and, consequently, subscription of the related Shares, must take place, under penalty of forfeiture, by no later than the third trading day following the date of communication of the advance closure, and therefore by 5 June 2017. the Unsubscribed Rights will be made available to buyers through the authorised intermediaries participating in the centralised management system of Monte Titoli S.p.A. and may be used for the subscription of ordinary shares (or category "B" shares, at the discretion of each subscriber) with normal dividend, at a price of 1.596 Euros per share (of which 0.52 Euros by way of share capital and 1.076 Euros by way of share premium) in the subscription ratio of 7 Shares for every 9 Unsubscribed Rights.

The Subscription Rights Offer prospectus is available to the public in electronic form on the website www.carraro.it as well as at the registered office of the Issuer in Campodarsego, Via Olmo 37.

This release is available on the Carraro website at www.carraro.it.

Il presente documento e le informazioni ivi contenute non includono o costituiscono un'offerta di vendita di strumenti finanziari, o una sollecitazione di un'offerta ad acquistare o sottoscrivere strumenti finanziari negli Stati Uniti, in Australia, Canada o Giappone nonché in qualsiasi altro Paese in cui tale offerta o sollecitazione sarebbe soggetta all'autorizzazione da parte di autorità locali o comunque vietata ai sensi di legge (gli "Altri Paesi"). Qualsiasi offerta al pubblico sarà condotta in Italia sulla base di un prospetto informativo autorizzato dalla Commissione Nazionale per le Società e la Borsa ("Consob"), in conformità alle applicabili disposizioni normative. Il presente documento, parte di esso o la sua distribuzione non possono costituire la base di, né può essere fatto affidamento sullo stesso rispetto a, un eventuale accordo o decisione di investimento. Gli strumenti finanziari non sono stati e non saranno registrati negli Stati Uniti ai sensi dello United States Securities Act of 1933 (come successivamente modificato) (il "Securities Act"), o ai sensi delle leggi vigenti negli Altri Paesi. Gli strumenti finanziari non possono essere offerti o venduti negli Stati Uniti, salvo che gli stessi siano registrati ai sensi del Securities Act o in presenza di un'esenzione dalla registrazione ai sensi del Securities Act. Carraro S.p.A. non intende registrare alcuna parte dell'Offerta negli Stati Uniti.

This communication and the information contained herein does not contain or constitute an offer of securities for sale, or solicitation of an offer to purchase or subscribe securities, in the United States, Australia, Canada or Japan or any other jurisdiction where such an offer or solicitation would require the approval of local authorities or otherwise be unlawful (the "Other Countries"). Any public offering will be conducted in Italy pursuant to a prospectus, duly authorized by the Commissione Nazionale per le Società e la Borsa ("Consob") in accordance with applicable regulations. Neither this document nor any part of it nor the fact of its distribution may form the basis of, or be relied on in connection with, any contract or investment decision in relation thereto. The securities referred to herein have not been registered and will not be registered in the United States under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or pursuant to the corresponding regulations in force in the Other Countries. The securities may not be offered or sold in the United States unless such securities are registered under the Securities Act, or an exemption from the registration requirements of the Securities Act is available. Carraro S.p.A. does not intend to register any portion of any offering in the United States.

Go to Press release 31.05.2017