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  1. Click to edit Master title style Ministry of Transport in Poland and World Bank Workshop on Road User Charging Systems Free-flow Electronic Tolling Systems: the experience of Autostrade for Poland and for the World Market Mr. Galliano Di Marco Head of International Development Autostrade Group 11th – 12th June, Warsaw

  2. A23 A26 A27 A4 Milan Venice A1 A13 Turin A12 Bologna A6 Genoa A11 Florence Ancona A12 A14 A1 Pescara A12 A14 Rome Bari A1 A16 Naples A3 Autostrade Group Network Other Motorways Autostrade at a glance: leader in free-flow tolling systems • The largest operator of toll motorways in Italy: • 3,408 Km under concession, equal to 61% of Italy’s toll road network; • Around EUR 11.0 billion investments committed for road enhancement over the next 5 years. • No. 1 operator in Europe for electronic tolling with over 5 million TELEPASS® transponders issued in Italy and Austria. • Significant international experience in toll road projects: • Launched first toll roads in UK (the “M6 Toll” in Birmingham) and US (the “Dulles Greenway” in Virginia); • Developed a free-flow multilane electronic toll-collection system for heavy vehicles in Austria (Europpass) on 2,100 km road network ; • Acquired in 2005 a relevant stake in Costanera Norte, a 33 km motorway in Santiago, Chile, featuring free-flow multilane electronic tolling; • Recently acquired a controlling stake in the Polish Group Stalexport, including the concession of the 61 km. Krakow - Katowice A4 motorway.

  3. Industry leadership and innovation over time 1924-25First toll motorway in the world (Milan-Como-Varese, 85 km.) which became part of the Autostrade network in 1962 1958-64 Opening of Milan-Naples motorway (800 Km) 1963 First ever “Eurobond” issue 1990 First dynamic toll collection system in the world (TELEPASS®) 1995 First privately financed toll motorway in the US (“Dulles Greenway”in Virginia) 1999 Largest privatisation in the industry worldwide 2003 Opening of the first toll motorway in the UK (“M6 Toll” near Birmingham) 2004 Opening of the first dynamic free flow multilane nation-wide toll collection system in the world (Europpass in Austria) 2005 Acquisition, in consortium with SIAS S.p.A. (45%) and Mediobanca (10%), of 45% of Costanera Norte, 43 km.-long motorway passing across the metropolitan area of Santiago (Chile) 2006 Acquisition of a controlling stake in Stalexport S.A., Polish conglomerate active in the steel distribution and toll motorways operation (it is the concessionaire of the 61 km- long section Krakow-Katowice of A4 motorway) 2007 The Annual General Meeting of the shareholders of Autostrade S.p.A. resolves to change the Company’s name to Atlantia S.p.A., as part of a wide-ranging restructuring, and maintaining Autostrade per l’Italia’s role as an operating parent company involved in the management of infrastructure under concession

  4. Operation and Maintenance Toll Collection Business strategy based on Group’s core competences • Focus investments on de-bottlenecking of core network • 1997 Investment Programme • 2002 Additional Investment Programme Construction Core Assets Core Business Core Knowledge • Focus on network maintenance and development • Commitment to operational efficiencies and cost reduction • Improvement of quality of services delivered to customers • Industry leadership to drive efficiencies and exploit further revenue opportunities • Leverage market leadership internationally (e.g. Europpass project) 1

  5. The Company’s Uniqueness No 1 Operator • Largest toll road operator in Europe and leader in toll road development in the Industry Low Business Risk • Established nation-wide network with limited traffic and substitution risk Investments to unlock value • Investments are targeted at sections most in need of congestion relief thus allowing for unsaturated long term traffic growth Regulation • Clear and supportive regulatory framework for new investments in de-bottlenecking Risk Management • Efficient financial structure • Long term availability of financial resources • Hedged interest rate risks 1

  6. A key factor: direct technical capabilities MANAGEMENT PROCESS Group’s Strategies Market RESEARCH & DEVELOPMENT SYSTEM INTEGRATION SERVICE PROVIDER Technological Development Autostrade Group Clients ITS • Equipment • IT Systems • Application Service Provider • Consulting & support • Post-sale support • Scouting • Feasibility • Conceptual Design • Prototyping • Toll collection • Access control & RUC • Traffic management • Application management • Main system developer & integrator for the Italian market of tolling and traffic management (captive and non-captive) • Direct knowledge of state of the art technologies • Proper leverage of technological risks in complex projects • Make or Buy 1

  7. Our approach to business and projects • Main guidelines/goals: • Economic performance (return on investment) • Security • proven technological system performance • guarantee of delivery in defined time • User friendly • “Simple” operation • Local value creation • No requirements or constraints / neutrality as regards toll technology: • No technology, supply or production interest; technology applied is chosen according to availability and appropriateness in relation to the service requested by the customer • Not bound to any supplier: opportunistic choice 1

  8. Worldwide presence and experiences Dulles Greenway Virginia (USA) First Private Toll Motorway in the United States M6 Toll Birmingham (UK) 1° Toll Motorway in the United Kingdom Stalexport (Poland) A4 Motorway Katowice – Krakow (Europpass LKW-Mautsystem) (Austria) 1° DSRC Nationwide Free-Flow Electronic Tolling System 2000 km Autostrade per l’Italia (Italy) 3400 km Toll Motorway in Concession Costanera Norte Santiago (Chile) DSRC Urban Free-Flow Tolling System Several concessionaires (Brazil and Argentina) controlled via Impregilo participation 1

  9. Europpass: a success story In May 2002 the Austrian Road Administration (ASFINAG) awarded Autostrade the concession to design, build, finance and operate for 10 years a multilane free-flow tolling system for commercial vehicles on the Austrian motorways/expressways network (2,092 km. plus future extensions) • Construction works started on July 1st 2002 • Service started on January 1st 2004, on time and on budget • 52 million transits per year forecast along the tolled motorway network • Most advanced and complex electronic tolling system in the world Setup in 18 months Management for 10 years PLAN DESIGN BUILD OPERATE FINANCING

  10. Europpass: Technical Features • Fully electronic dynamic free-flow tolling on approx. 2,100 Km of existing motorways / expressways (plus future extensions) • Based on 5.8 GHz Dedicated Short Range Communication (CEN-DSRC) between On-Board-Units (OBU’s) and roadside equipment • 800+ tolling stations positioned across the carriageway along main routes (not at entry/exit points) • All heavy vehicles (> 3. 5 tons), Austrian and foreign, to be mandatorily equipped with OBU’s • 200+ Points of Sale for OBU’s and for assistance • Toll payment according to class of vehicle and actual distance travelled • Option for toll payment: post-pay or pre-pay modes • Central IT System for traffic monitoring, tolling operations, invoicing and enforcement • Enforcement by means of 150 control stations

  11. Success factors: strong commitment & experienced partners • ASFINAG • The Grantor – ASFINAG – is 100% owned by the Republic of Austria, has a strong reputation and experience in the operation of motorways and is rated AAA by S&P • The Austrian Government will use the funds raised from the project to cover costs for the construction of new roads and for the maintenance of the existing ones • Autostrade • Autostrade has a sound financial background and is rated A by S&P and A3 by Moody’s • Autostrade is an experienced partner and among the world's largest motorway concession companies, and is one of the largest European operators of toll motorways under concession in terms of network extension, traffic and revenues • Autostrade has developed its proprietary electronic tolling technology, under the brand name "Telepass". Currently there are more than 5,000,000 Telepass customers. Autostrade is the exclusive supplier of electronic tolling systems to motorway concessionaires in Italy • Local Partnerships • A key element for the success of the Austrian Project was that Autostrade capitalized on the local expertise and set up strong partnerships with some experienced local firms.

  12. Success factors: proven technology • The Austrian system is the first global country-wide multilane free-flow tolling system to come on line; • The microwave technology is the most developed technology for tolling in the world, being its reliability proved in 28 countries around the world; • Europe: approx. 10 million users across 10 Countries (50% in Italy) • Japan: approx. 4 million users (2004) • USA: programs for distribution of several millions On-Board-Units over the next five years • The Austrian toll system relies upon the same core technologies proven in the Italian system; • Technical compatibility among existing ETC systems in EU shall be achieved by means of multi-standard On-Board-Units (Autostrade is the first producer of a Dual Mode On Board Unit - Telepass & CEN TC278).

  13. From a Vignette System to Real Tolls: Revenues increase The 82% increase in total toll revenues collected by ASFINAG in 2004 over 2002 is almost completely dueto the introduction of dynamic tolling for commercial vehicles. year Total: € 1,170 million + 82% 762 296 112 2004* Revenues from Go-Boxes 73 308 Annual Tax (until 2003) Total: € 642 million 261 2002 Revenues from Vignette Revenues from special toll sections € million 0 500 100 200 300 400 600 700 800 900 1,000 1,100 * Based on actual data for 2004 ( source: ASFINAG )

  14. Europpass Project proves Autostrade leadership in ETC Largest Electronic Toll Collection Operator, managing a system interoperable on more than 5,600 km of network, collecting tolls of 2.6 billion Euro (2004) for more than 20 operators in Italy Largest toll motorway Operator, directly managing 3,400 km (19% of the entire European toll network) Largest Contract and On-Board-Unit Issuer for electronic tolling, with 5.3 million users and contractual agreements with over 600 banks in Italy

  15. Autostrade in Poland: Stalexport • Autostrade’s S.p.A. Board of Directors approved the acquisition of a controlling stake (50% + 1 share) in the capital of Stalexport Group for a total investment of € 68 mln; • Stalexport is a conglomerate active in motorway operation and steel product trade & distribution; • It is listed on Warsaw Stock Exchange with current market capitalization of approximately € 335 mln; • In 1997, Stalexport obtained a 30-year concession to adapt to tolling, re-vamp and operate the 61 Km. A4 stretch from Krakow to Katowice – the first toll road in Poland. A4 Krakow-Katowice (61 km., Concessionaire: Stalexport)

  16. Autostrade in Poland: Tenders • The Consortium Autostrade-Stalexport has reached the pre-qualification stage in the tender regarding the concession for the design, construction, finance, operation and maintenance of the A2 tolled motorway at the Strykow-Warsaw section (95 Km) • Besides, Autostrade has been pre-qualified, in consortium with Stalexport and Polimex, to the 2 separate tenders for thedesign and installation of tolling and traffic management systems, as well as O&M the infrastructure on 2 motorway sections currently operated by the Polish Roads Agency (GDKKiA): • A2 motorway, section Konin-Strykow (104 km.) • A4 motorway, section Wroclaw-Katowice (187 km.) A2 Konin – Strykow (104 km.) (Tolling tender, Autostrade-Stalexport-Polimex prequalified) A2 Strykow-Warsaw (96 km.) (BOT tender, Autostrade-Stalexport prequalified) A4 Wroclaw-Katowice (187 km.) (Tolling tender, Autostrade-Stalexport-Polimex prequalified)

  17. Transition path proposed for heavy vehicles tolling in Poland • VIGNETTE • Current system on most of the Polish motorway network for heavy vehicles; • Not economically efficient because fees are not tied to effective use; • No Added revenues with additional kilometers traveled; • Compensation paid to Concessionaires is expected to exceed revenues from Vignettes already by 2009; • Not flexible (payments based only on period of use not on other utilization criteria); • Potential State Aid according to EU legislation; • Enforcement is a critical issue. Direct installation of Free-Flow Tolling for Heavy Vehicles on un-tolled motorways ETC on already tolled motorways (currently only manual system) as a transitional step to install free-flow in a 2nd phase • No need to spend money to install toll stations; • No congestion at toll stations, less environmental pollution as cars do not have to stop; • High enforcement rates (see Austrian case); • Lower capital and operating costs compared to traditional toll infrastructures. • ETC reduces congestion and increases vehicle throughput at the toll stations; • ETC reduces operating costs. • Fairness (pay-as-you-go); • Flexibility (allows congestion pricing based on zones or hours); • More economically efficient for the State (+82% yoy revenues increase in Austria after real toll introduction); • With distance-based charging, new kilometers result in new revenues. Advantages of Electronic Toll Collection/ETC compared to Vignette

  18. s_mvoltan\Autostrade\Autostrade Investor Presentation (Final) - May 2004.ppt THANK YOU FOR YOUR ATTENTION ! Galliano Di Marco Head of International Development Autostrade S.p.A. gdimarco@autostrade.it Tel. +39.06.4363.4781