(1) Non-cash stock-based compensation expenses represent the cost of equity-settled and cash-settled share-based payments to employees.

Segment P&L (Unaudited)
			Materialise				Materialise				Materialise				Total				Adjustments &
In thousands euros			Software				Medical				Manufacturing				segments				eliminations				Consolidated
For the three month period ended 31 December 2016
Revenues			8,078				10,061				13,326				31,465				12				31,477
Segment EBITDA			2,949				656				1,438				5,043				(848	)			4,195
Segment EBITDA %			36.5	%			6.5	%			10.8	%			16.0	%							13.3	%
For the three month period ended 31 December 2015
Revenues			7,301				9,570				11,161				28,032				-				28,032
Segment EBITDA			2,706				747				1,033				4,486				(1,621	)			2,865
Segment EBITDA %			37.1	%			7.8	%			9.3	%			16.0	%							10.2	%
For the twelve month period ended 31 December 2016
Revenues			30,122				37,910				46,406				114,438				39				114,477
Segment EBITDA			10,130				894				3,848				14,872				(6,391	)			8,481
Segment EBITDA %			33.6	%			2.4	%			8.3	%			13.0	%							7.4	%
For the twelve month period ended 31 December 2015
Revenues			25,798				34,856				41,381				102,035				-				102,035
Segment EBITDA			9,093				422				1,645				11,160				(8,239	)			2,921
Segment EBITDA %			35.2	%			1.2	%			4.0	%			10.9	%							2.9	%

Reconciliation of Net Profit/(Loss) to Segment EBITDA (Unaudited)
(in thousands of euros)			For the three months ended December 31						For the twelve months ended December 31
			2016			2015			2016			2015
Net profit/(loss)			620			2,145			-3,019			-2,860
Income taxes			898			-1,010			1,710			-389
Finance costs			749			362			2,437			2,470
Finance income			-1,002			-718			-2,039			-3,511
Share in loss of joint venture			650			153			1,018			401
Operating profit			1,915			932			107			-3,889
Depreciation & amortization			2,280			1,933			8,374			6,810
Corporate research and development			472			784			1,673			2,955
Corporate headquarter costs			1,781			2,027			8,646			9,700
Other operating income (expense)			-1,405			-1,190			-3,928			-4,416
Segment EBITDA			5,043			4,486			14,872			11,160

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