CDP RETI: Board of Directors approves draft separate financial statements and 2025 consolidated financial statements

CDP RETI FINANCIAL HIGHLIGHTS

Net income: 557 million euro (539 million in 2024)

Total Assets: 5.5 billion euro (5.3 billion in 2024)

Equity: 3.8 billion euro (3.5 billion in 2024)

CONSOLIDATED FINANCIAL HIGHLIGHTS

Consolidated net income: 2.7 billion euro (2.5 billion in 2024)

Consolidated net income pertaining to the Parent Company CDP RETI: 742 million euro (733 million in 2024)

Total Consolidated Assets: 91 billion euro (80 billion in 2024)

Consolidated Equity: 23.0 billion euro (21.3 billion in 2024) of which 5.6 billion euro pertaining to the Group

Rome, 7 April 2026 h. 12.52 – 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 2025.

The draft financial statements will be submitted for approval to the Shareholders' Meeting to be held upon first call on 19 May 2026 and, if necessary, upon second call, on 27 May 2026.

CDP RETI’s economic and financial performance

Net income stands at 557 million euro, up (+3%) compared to 2024, chiefly due to the higher dividends accruing.

Total assets, equal to 5.5 billion euro, are mainly represented by the equity investments in Terna, Snam and Italgas (measured at purchase cost and are equal to 5.3 billion euro).

With reference to liabilities, non-current loans (including the current portion) equal to 1.7 billion euro (1.7 billion at the end of 2024) and shareholders’ equity equal to 3.8 billion euro (3.5 billion in 2024).

Dividends accruing amount to 634 million euro, up compared to 2024 (+9%), due to the positive effects of increased dividends (in terms of dividend per share) of the investee companies.

Consolidated economic and financial performance

Consolidated net income equal to 2.7 billion euro, up 6% compared to 2024.

Consolidated net income pertaining to the Parent Company CDP RETI equal to 742 million euro.

Total consolidated assets, equal to 91 billion euro (80 billion in 2024) are mainly attributable to property, plant and equipment for 48.3 billion euro.

Consolidated equity equal to 23.0 billion euro (of which 5.6 billion euro pertaining to the Group).

Shareholders’ Meeting and Dividend

The Board of Directors has decided to propose the distribution of a maximum total ordinary dividend for 2025, gross of any applicable withholding taxes, equal to 556,533,286.56 euro, of which 393,815,514.24 euro already distributed as 2025 interim dividend, to the approval of the Shareholders’ meeting called for May 19, 2026 and if necessary, on second call on May 27.

Based on the proposal of the Board of Directors, the final dividend, to be distributed based on the resolution to be approved by the Shareholders' Meeting, is equal to maximum 162,717,772.32 euro, gross of any applicable withholding taxes.

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% as of December 31, 2025), State Grid Europe Limited, State Grid Corporation of China group (35.0% as of December 31, 2025), and a group of Italian institutional investors (5.9% as of December 31, 2025). CDP RETI’s mission is to manage the investments in SNAM (31.35% as of December 31, 2025), TERNA (29.85% as of December 31, 2025) and ITALGAS (25.94% as of December 31, 2025).