3.4 Combined Independent Management Committee

On 27 July 2010, pursuant to the control then exercised by Eni (a vertically integrated company pursuant to the provisions on unbundling), the Board of Directors, with the consent of the AEEGSI, pursuant to Article 16 of the Bylaws, established the Combined Independent Management Committee, a collective body for the joint management – by Snam and its Subsidiaries – of regulated activities pertaining to the transport, dispatching, distribution, storage and regasification of natural gas.

On 17 December 2014, Snam’s Board of Directors approved the revocation of the Combined Independent Management Committee since, following the AEEGSI’s decision to definitively certify Snam Rete Gas as a natural gas transportation system operator under ownership unbundling, were no longer subsisting the governance reasons that led to its creation.