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Investor Presentaiton

3 Sustained level of R&D R&D* (in million) 71 2.1% H1 2015/16 As % of sales 85 2.4% H1 2016/17 * R&D including externally-funded programmes, excluding capitalisation and amortisation Main R&D programmes â– Renewal of mainline and urban train ranges Signalling programmes Predictive maintenance ALSTOM - February 2016 - P 41 ALSTOM 2016. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use or disclosure to third parties, without express written authority, is strictly prohibited. ALSTOM
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