CDP RETI: Board of Directors approves draft separate financial statements and 2021 consolidated financial statements

CDP RETI FINANCIAL HIGHLIGHTS

Assets: 5.2 billion euro (in line with 2020)

Shareholders’ equity: 3.5 billion euro (in line with 2020)

Net income: 471 million euro (436 million in 2020)

CONSOLIDATED FINANCIAL HIGHLIGHTS

Assets: 66 billion euro (62.3 billion in 2020)

Shareholders’ equity: 16.8 billion euro (15.8 billion in 2020)

Net income: 2.4 billion euro (2.0 billion in 2020)

Rome, 30 March 2022 h. 12:05 – The Board of Directors of CDP RETI S.p.A. (CDP Group) today approved the draft separate financial statements and the consolidated financial statements at 31 December 2021.

The draft financial statements will be submitted for approval to the Shareholders' Meeting to be held upon first call on May 5^th, 2022 and if necessary, on second call on May 12^th.

CDP RETI performance and financial position

Total assets, equal to 5.2 billion euro (in line with the previous year), are mainly represented by the equity investments in Terna, Snam and Italgas (measured at purchase cost) and are equal to 5 billion euro.

With reference to liabilities, non current loans (including the current portion) equal to 1.7 billion euro (in line with the previous year) and shareholders’ equity equal to 3.5 billion euro.

Dividends amount to 493 million euro, up compared to 2020 (+6%), due to the positive effects deriving from the changed dividend policy (in terms of dividend per share) of the subsidiaries.

Net income stands at 471 million euro, up (+8%) compared to 2020, chiefly due to the higher dividends.

Consolidated performance and financial position

Total consolidated assets, equal to 66 billion euro (up compared to 2020) are mainly attributable to property, plant and equipment for 37.3 billion euro.

Shareholders’ equity equal to 16.8 billion euro (of which 4.7 billion euro pertaining to CDP RETI).

Consolidated net income equal to 2.4 billion euro, up 24% compared to 2020.

The net income pertaining to CDP RETI shareholders equals 737 million euro.

Shareholders’ Meeting and Dividend

The Board of Directors has decided to propose the distribution of a total ordinary dividend for 2021, gross of any legal withholding taxes, equal to 471,192,867.90 euro (2,917.35 euro per share), of which 311,297,238.18 euro (1,927.37 euro per share) already distributed as an interim dividend in November 2021, to the approval of the Shareholders’ meeting called for May 5 ^th, 2022 and if necessary, on second call on May 12^th .

Based on the proposal of the Board of Directors, the 2021 dividend balance, equal to 989.98 euro per share, will be paid by May 31^st, 2022.

The Financial Reporting Manager, Alessandro Uggias, declares, pursuant to Article 154-bis, paragraph 2, of the Consolidated Law on Finance, that the accounting information contained in this press release corresponds to documentary evidence and the accounting books and records.

CDP RETI S.p.A. is an investment vehicle owned by Cassa Depositi e Prestiti S.p.A. (59.1%), State Grid Europe Limited, State Grid Corporation of China group (35%),and a group of Italian institutional investors (5.9%). CDP RETI’s mission is to manage the investments in SNAM (31.35% as of December 31, 2021), TERNA (29.85% as of December 31, 2021) and ITALGAS (26.02% as of December 31, 2021).