Ownership structure

(*)On 1st August 2019 the Board of Directors of CDP S.p.A., also with a view to considering the control guidelines contained in Consob Communication no. 0106341 of 13 September 2017, reclassified its equity investment in Italgas as de facto control pursuant to Article 2359, subsection 1, no. 2) of the Italian Civil Code and Article 93 of the TUF, exercising control through CDP Reti with, at the time, a 26.05% equity holding and through Snam with, at the time, a 13.50% equity holding. CDP does not exercise management and coordination activities over Italgas pursuant to Article 2497 et seq. of the Italian Civil Code.

(**) A shareholders’ agreement between Snam, CDP Reti and CDP Gas was signed on 20 October 2016, effective from the date of the demerger of Italgas S.p.A. on 7 November 2016. With effect from 1st May 2017, CDP Gas was merged into CDP. Subsequently, on 19 May 2017, CDP sold to CDP Reti, inter alia, its equity investment in Italgas S.p.A., equal to 0.969% of Italgas S.p.A.’s share capital. CDP Reti is 59.1% owned by CDP, 35% by State Grid europe Limited – SGEL, a company of the State Grid Corporation of China group, and 5.9% by a number of Italian institutional investors. On 1st August 2019, the shareholders’ agreement was further updated to take account of the aforementioned re-qualification of the shareholding. The shareholders’ agreement is for three years and is automatically renewed for further three-year periods, unless one of the parties gives 12 months’ notice. Given such forecast, in November 2019 and November 2022 the shareholders’ agreement was renewed. On 21 March 2023, Snam and CDP Reti signed an amendment to the Italgas Shareholders’

Institutional shareholders’ data from shareholders’ register.