Letter to Shareholders

Dear shareholders,
The end of 2008 saw the conclusion of one of the postwar period’s toughest years from the standpoint of the global
macroeconomic picture. And in the current state of affairs, no end to the crisis may as yet be seen. Given this
difficult setting for us to work in, we are particularly proud to announce to you that Astaldi – thanks to its strategic
choices, its flexible business model, and its shrewdly planned activities – brilliantly overcame the ongoing crisis in
2008, continuing on the path of growth embarked on so many years ago.

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