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Italgas stock confirmed for the ninth consecutive year in the FTSE4Good Index Series

Milan, 14 July 2025 – Italgas has been confirmed for the ninth consecutive year as a constituent of the FTSE4Good Index Series, that includes companies demonstrating strong Environmental, Social and Governance (ESG) practices. FTSE Russell’s evaluations are based on performance in areas such as Corporate governance, health and safety, anti-corruption, and climate change.

This year, Italgas further improved its score to 4.4 out of a maximum of 5 points, achieving the highest rating in the social and governance categories and outperforming both the industry average and other Italian companies.

The result achieved confirms Italgas’ commitment to all aspects of sustainability, a key element that permeates the Group’s strategic development choices and daily operations.

Italgas: New EMTN Programme Established and Listed in Italy

Milan, July 10 2025 – Italgas announced today the establishment of a new Euro Medium Term Notes (EMTN) Programme with a maximum nominal amount of €5 billion.

The programme, approved today by the Commissione Nazionale per le Società e la Borsa (CONSOB), provides for the issuance of one or more non-convertible bond loans to be executed within one year, intended exclusively for institutional investors.

The new Italgas EMTN Programme is the first and innovative example of a plan for companies in Italy that enables the issuance of dematerialized securities, listed on the Mercato Telematico delle Obbligazioni (“MOT”), managed by Borsa Italiana S.p.A. It is fully aligned with the Italgas Group’s commitment to promoting the development of the domestic bond market.

The establishment of the new EMTN Programme was celebrated with a “Ring the Bell” ceremony held this morning at Palazzo Mezzanotte, in Piazza degli Affari in Milan, attended by representatives from Italgas, CONSOB and Euronext-Borsa Italiana.

Italgas: Moody’s Ratings affirms Rating and Outlook

Milan, July 4 2025 – Rating agency Moody’s today affirmed the long-term credit rating of Italgas S.p.A. (“Italgas”) at ‘Baa2’, with a Stable Outlook.

The same ‘Baa2’ rating has been affirmed to the outstanding bonds issued by Italgas, as well as to those originally issued by 2i Rete Gas and now assumed by Italgas Reti.

The affirmation of the ‘Baa2’ rating follows the completion of Italgas’ acquisition of 2i Rete Gas and the subsequent merger with Italgas Reti, effective as of 1 July 2025, reflecting Italgas’ position as a leading gas distribution operator in Europe, the Group’s operational efficiency, and the stability of the Italian regulatory framework.

Moody’s highlights that Italgas’ rating remains tied to the company’s exposure to the sovereign risk of the Italian State (‘Baa3’, Positive Outlook).

The merger by incorporation of 2i Rete Gas into Italgas Reti becomes effective

The European leader in gas distribution is born

 

Italgas CEO, Paolo Gallo: “An extraordinary achievement just three months after closing. Operational efficiencies and industrial synergies expected as early as 2025.”

 

Milan, 2 July 2025 – The merger by incorporation of 2i Rete Gas into Italgas Reti, the main operating company of the Italgas Group becomes effective. This milestone marks the completion of the integration process started immediately after the acquisition finalized in April, supported by a capital increase that was met with strong market support.

 

“Just three months after the closing of the 2i Rete Gas acquisition,” commented Paolo Gallo, CEO of Italgas, “we are reaching the first milestone with a speed that is unprecedented for operations of this scale. It is an extraordinary result, the outcome of a clear vision, rigorous planning, and above all, the great professionalism of the people involved. This integration makes it possible to achieve operational efficiencies and industrial synergies, to the benefit of territories, communities, and more broadly of the Italian and international gas distribution sector.”

 

With the incorporation of 2i Rete Gas, the Group is reshaping its territorial organization, achieving a more extensive presence across Italy, with operations in over 4,000 municipalities and approximately 12 million customers served through 150,000 kilometres of network and a workforce of around 6,500 employees.

 

The creation of this new corporate entity enables full implementation of the roadmap set out in the 2024–2030 Strategic Plan, presented to the market last October. The Plan foresees cost synergies, operational efficiencies, and incremental revenues from digitalization investments amounting to approximately €280 million by 2030. These benefits stem from the combination of Italy’s two leading operators, the adoption of best practices from both companies, and the advantages offered by digitalization and extensive use of Artificial Intelligence – now further enhanced by the Group’s increased scale. The merger, completed ahead of schedule, will allow for detailed representation of the many value creation levers in the upcoming 2025–2031 Industrial Plan, to be presented on 29 October.

 

Italgas: S&P Global Ratings assigns BBB+ rating

Milan, July 1 2025 – The rating agency S&P Global Ratings today assigned to Italgas S.p.A. (“Italgas”) and Italgas Reti S.p.A. (“Italgas Reti”) a long-term Issuer Rating of BBB+, Stable Outlook.

 

The rating action follows the completion of 2i Rete Gas S.p.A. (“2i Rete Gas”) acquisition and the subsequent merger by incorporation of 2i Rete Gas into Italgas Reti, effective as of today.

 

The same BBB+ rating has been extended to the outstanding bonds issued by Italgas, as well as to those originally issued by 2i Rete Gas and now assumed by Italgas Reti.

 

The rating reflects Italgas’ position as the leading gas-distribution operator in Europe, strengthened by the acquisition of 2i Rete Gas and by the anticipated operational efficiencies and additional synergies arising from the integration of the two companies.

 

The agency also highlights Italgas’ sound liquidity profile, further supported by the capital increase recently completed on June 24th 2025.

Changes to Italgas’ calendar of 2025 corporate events

Milan, 27 June 2025 – Italgas announces that the meeting of the Board of Directors for the approval of the results for the first half of 2025, initially scheduled for 24 July 2025, has been brought forward to 23 July 2025.

The related press release will be issued on the morning of 24 July 2025, before the opening of the financial markets. The conference call to present the results to investors and financial analysts will be held on the same day.

As usual, the time of the conference call will be provided in the results press release and in the invitation that will be sent to investors and financial analysts.

The Board of Directors of Italgas appoints the members of the Board Committees and Chairmen

Milan, 27 June 2025 – The Board of Directors of Italgas, which met today under the chairmanship of Paolo Ciocca, in line with the provisions of the Corporate Governance Code, to which the Company abides, has confirmed that the following Committes have been established and has appointed their members:

Control, Risk and Related Party Transactions Committee

  • Gianmarco Montanari* (Chairperson)
  • Costanza Bianchini*
  • Erika Furlani*

Appointments and Compensation Committee

  • Cecilia Andreoli* (Chairperson)
  • Fabio Barchiesi**
  • Erika Furlani*

Sustainable Value Creation Committee

  • Alessandra Faella* (Chairperson)
  • Costanza Bianchini*
  • Qinjing Shen**

* Independent non-executive director pursuant to the TUF and the Corporate Governance Code

** Non-executive director

The Board of Directors has therefore verified that at least one member of the Control, Risk and Related Party Transactions Committee and of the Appointments and Compensation Committee fulfils the requirements in terms of knowledge and experience set out in the Corporate Governance Code.

As of today, it should be noted that, to the best of the Company’s knowledge, Gianmarco Montanari holds 250 shares of Italgas S.p.A. among the members of the above-mentioned Committees.

The curriculum vitae of the members of the Committees are available on the Italgas website on the Board of Directors page.

Italgas, National Bank of Greece, and General State Archives Sign Agreement: History and Innovation Meet Through Digitalization

Athens, 20 June 2025 – Italgas, the National Bank of Greece, and the General State Archives have today signed a Memorandum of Understanding (MoU) aimed at digitizing and preserving documents related to the development of the gas industry in Greece—from importation to distribution. The objective is to create a comprehensive, accessible, and collaborative digital narrative and to promote educational and cultural initiatives tied to the growth of the sector and the development of the country’s energy infrastructure.

The agreement was signed at the Italian Archaeological School of Athens by Paolo Gallo, CEO of Italgas, Ernestos Panayiotou, General Manager Transformation, Strategy and International Activities of the National Bank of Greece and Amalia Pappa, Deputy General Director of the General State Archives, in the presence of the Italian Minister of Culture, Alessandro Giuli, and the Italian Ambassador to Greece, Paolo Cuculi.

“I am very pleased that today Italgas is signing this agreement with two important Hellenic institutions, the National Bank of Greece and the General State Archives, confirming the high priority the company places on Greece, including in the fields of digitalization, protection, and preservation of historical heritage,” emphasized Paolo Cuculi, the Italian Ambassador to Greece. “Enhancing our history, both modern and contemporary, is indeed a distinctive trait of our two countries, and this agreement is a perfect example of that.”

This Memorandum is much more than a simple collaboration,” said Paolo Gallo, CEO of Italgas.With this agreement, we are putting our expertise and the technologies developed by our digital transformation laboratory at the service of an ambitious goal: to build a bridge between past and future, between culture and innovation, by making an immense historical heritage easily accessible to all. The Italgas Heritage Lab has demonstrated how the digitization of archives can become a powerful driver of knowledge, identity, and development, available to everyone. And today, we are pleased to share this approach with the National Bank of Greece and the General State Archives, in the awareness that digitizing means protecting a heritage, making it eternal – but not only that; it also enables new ways of experiencing and sharing knowledge.”

We firmly believe that this Memorandum of Understanding promotes cooperation between institutions and enhances their extroversion. We are joining forces in the effort to highlight and promote the industrial heritage of Italy and Greece, with a particular emphasis on the history of natural gas—introduced in Greece in the second half of the 19th century» highlighted Amalia Pappa, Deputy General Director of the General State Archives. “The General State Archives of Greece are closely linked to the nation’s historical narrative, safeguarding public records from the establishment of the modern Greek state to the present day. In doing so, they ensure the continuity and preservation of Greece’s administrative, political, economic and social history. Thus, the selection and documentation of the relevant archival material of the General State Archives and the Historical Archives of the National Bank of Greece, as well as its  digitization and online availability, will create a set of documents accessible not only to researchers but to everyone”.

The collaboration of the National Bank of Greece through its Historical Archive with Italgas and the General State Archives, as reflected in the Memorandum, demonstrates our steadfast commitment to protecting historical memory, deepening awareness on financial history, and capturing cultural synergies across borders and industriessaid Ernestos Panayiotou, General Manager of Transformation, Strategy and International Activities of the National Bank. “Within the framework of the Memorandum and by utilizing the latest technologies, the important documents held by the Historical Archive of the National Bank of Greece, as well as the relevant scientific research that will be carried out, will shed light on the use of gas in our country from the 1920s to the 1970s as well as on the course of the energy industry in Greece more broadly. Safeguarding and digitizing these archival materials will ensure that the records of our past are not only preserved but also made accessible to future generations”.

Specifically, this project aims to:

  • entrust historians and specialized archivists—selected by Enaon, the Italgas Group company operating in Greece—with the curatorship of the content, with support from the National Bank of Greece to ensure scientific rigor and historical accuracy;
  • develop an intuitive and secure digital platform for consulting the documentary heritage while preserving its authenticity;
  • launch initiatives targeted at schools and educational institutions to raise awareness among younger generations about the importance of energy infrastructure, the responsible use of resources, and the historical and social value of industrial heritage;
  • produce materials and tools with educational and cultural purposes, capable of narrating the evolution of the gas industry as a driver of territorial progress;
  • organize public events retracing the key stages in the development of the gas industry, highlighting its crucial role in the economic and social growth of local areas.

This is a project that unites two countries under the banner of memory, innovation, shared industrial culture, and the work of Italgas and its Greek subsidiaries Enaon and Enaon EDA.

Italgas S.p.A.: assessment of the requirements of Directors and Statutory Auditors

Milan, 26 May 2025 –The Board of Directors, which met today under the chairmanship of Mr Paolo Ciocca, on the basis of the information provided by the parties concerned, verified – with reference to all 9 Directors – compliance with the limitations on the accumulation of offices pursuant to the Resolution of Italgas’ Board of Directors of 16 December 2024, who have no cause of ineligibility or incompatibility and who each possess the integrity requirements laid down by current legislation; it also determined, on the basis of declarations made that the Chairperson, Paolo Ciocca, and the Directors Cecilia Andreoli, Costanza Bianchini, Erika Furlani, Alessandra Faella and Gianmarco Montanari possess the requirements of independence required by the articles 147-ter, subsection 4, and 148, subsection 3, of the Consolidated Law on Finance and by Article 2 of the Corporate Governance Code (also in consideration of the qualitative and quantitative criteria approved by the Board of Directors to assess the importance of commercial, financial or professional relationships and additional remuneration).

The Board of Directors, on the basis of the assessments carried out by the Board of Statutory Auditors, also acknowledged that there were no causes of ineligibility, forfeiture and incompatibility as regards the Statutory Auditors and that they possess the requirements of professionalism and integrity prescribed in accordance with Italian Ministerial Decree No. 162 of 30 March 2000, as specified in art. 20.1 of the Bylaws, comply with the limits of accumulation of offices held, and possess the requirements of independence envisaged by the law and by the Corporate Governance Code (also considering the above mentioned qualitative and quantitative criteria).

The Board also verified that the composition of the Board itself and of the Board of Statutory Auditors complied with the provisions of the law and bylaws in force on gender equality. As of today the Company specifies, to the best of its knowledge, that Paolo Gallo holds 655,787 shares of Italgas S.p.A. and Gianmarco Montanari holds 200 shares of Italgas S.p.A..

The curricula vitae of Directors and Statutory Auditors are available on the website, on the Board of Directors and Board of Statutory Auditors pages, respectively.

Italgas Board of Directors Appoints Paolo Gallo as CEO

Milan, 13 May 2025 – The Board of Directors of Italgas, which met today in Milan in full attendance under the chairmanship of Paolo Ciocca, appointed Paolo Gallo as Chief Executive Officer. He has been granted all management powers of the Company, with the exception of those reserved by law, the By-laws, or specific Board resolutions to the Board itself or to the non-executive Chairman. The CEO is also entrusted with the role of Chief Executive Officer in relation to the establishment and maintenance of an effective internal control and risk management system.

 

As of today, the Company that, to the best of its knowledge, Paolo Gallo holds  655,787 shares of Italgas S.p.A. and Gianmarco Montanari holds 200 shares of Italgas S.p.A.