Investments of €1 billion in Greece (increased by €100 million compared to the previous plan) for the expansion of the gas distribution network, its digital transformation, the penetration of gas in areas not yet served, and the distribution of renewable gases are foreseen in Italgas' Strategic Plan for the period 2024-2030, through its subsidiary Enaon.

These investments are expected to allow the expansion of the Greek network from 7,924 km in 2023 to over 11,000 km by the end of the plan (about +40%) and to increase the number of consumers served from 600,000 in 2023 to about 1 million by 2030.

The company's strategic plan was presented today to analysts and investors by Italgas CEO Paolo Gallo. It includes a total investment of €15.6 billion (an increase of €7.5 billion or +92% compared to the previous plan) and aims at the acquisition of 2i Rete Gas, interventions to develop gas distribution in Italy and Greece, strengthening the presence in the water sector, and enhancing energy efficiency.

CEO STATEMENT

Mr. Gallo said, "The Strategic Plan 2024-2030 will go down in Italy's history as the plan that makes it Europe's champion in gas distribution, further strengthening our commitment to the digital transformation of infrastructure for the benefit of the entire country.

The new dynamics of the group, combined with innovation and digital transformation, are a key factor in ensuring the achievement of the objectives of energy transition, security of supply, and sustainability of energy costs for citizens and businesses.

The €15.6 billion investment will give a strong boost to our development path, with the bulk of it being reallocated to the development, digitalization, and transformation of the gas distribution network in both Italy and Greece. Our commitment to the widespread use of AI will allow us to enter a new phase of digital transformation.

Digital transformation is a primary pillar of our strategy, as is the development of our water and energy efficiency activities. With investments of €750 million, we will continue to work to strengthen our role as a key player in the water sector, which has long suffered from a lack of appropriate smart grid investments, and to develop energy efficiency as a key tool to achieve our energy transition goals.

The elements of this plan, with an average annual growth of 13% in EBITDA and net profit by 2030, demonstrate how the exceptional skills of the women and men of Italgas and 2i Rete Gas can create value for shareholders and all stakeholders by leveraging efficiency, innovation, and sustainability."