SNAM Consolidated half-year report at 30 June 2015

Scope of consolidation at 30 June 2015

The Snam Group’s scope of consolidation as at 30 June 2015 can be represented as follows:

Snam Group’s scope of consolidation (Organigram)

CONSOLIDATING COMPANY

SHAREHOLDERS

% OWNERSHIP

1	CDP S.p.A. owns 59.10% of CDP Reti S.p.A.
2	Company wholly owned by CDP S.p.A.
3	eni is not entitled to vote at Shareholders’ Meetings.

Snam S.p.A.

CDP Reti S.p.A.¹

28.98

CDP Gas S.r.l.²

1.12

eni S.p.A.³

8.25

Snam S.p.A.

0.03

Altri azionisti

61.62

The changes in the Snam Group’s scope of consolidation between 31 December 2014 and 30 June 2015 were due to the distribution segment, with Acam Gas S.p.A. entering the scope of consolidation following the acquisition by Italgas S.p.A. of the remaining 51% of the company’s share capital. Following this acquisition, which took effect on 1 April 2015, Italgas S.p.A. holds 100% of the share capital of Acam Gas S.p.A.

As well as the above, the changes between 30 June 2014 and 30 June 2015 include Gasrule Insurance Ltd and A.E.S. Torino S.p.A., wholly owned subsidiaries of Snam S.p.A. and Italgas S.p.A. respectively, being added to the consolidation scope in July 2014.

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