Westinghouse Completes Acquisition

June 2015

As you may know, on September 23, 2014 Westinghouse Electric Company LLC, as Toshiba Group Company,completed its acquisition of Mangiarotti S.p.A.

Now, after seven months from that key step, as of March 31, 2015 Toshiba has acquired 70% of the Mangiarotti S.p.A. shares, the remaining 30% still being retained by Westinghouse s.

This further step reinforces the interest of Toshiba and Westinghouse in the capabilities of Mangiarotti as a strategic manufacturer of components for the nuclear, oil and gas industries. Mr. Richard Gabbianelli, will continue serving as chairman of the board of directors, as well myself in my role of chief executive officer. In addition, the direct management of Mangiarotti will remain with Westinghouse.

Mangiarotti will continue its operations with a renewed momentum in the two manufacturing sites of Pannellia and Monfalcone. Your direct contact persons remain Mr. Gian Paolo Rinaldi for the Oil and Gas business and Mr. Eugenio Lumini for the Nuclear Business.