Section I - Presentation of the Company

1. Mission and international growth

Snam is Europe’s leading operator in the creation and integrated management of natural gas infrastructure. It facilitates the conditions for fair-priced energy by efficiently managing the gas system, developing infrastructure and offering integrated services for the market. It promotes the integration of the European networks, including through strategic partnerships with major operators in the sector along the continent’s main energy corridors.

Snam follows an ethical and socially responsible business model that is capable of generating value for both the Company and the communities in which it operates, based on renowned professionalism and transparent dialogue with all its stakeholders, while respecting the environment and the local area. A clear and sustainable long-term development strategy, based on one of the most substantial investment programmes in Italian industry, has enabled the Company to attract Italian and foreign capital, boosting growth and employment.

With around 3,000 employees, Snam is active in natural gas transportation, storage and regasification. It manages a national transportation network encompassing more than 32,000 kilometres, nine storage sites and one regasification plant.

Snam owns the main gas infrastructure within Italy and is a key operator in Europe in terms of its regulatory asset base (estimated at approximately €19.4 billion at the end of 2016)².

Snam’s primary objective is to create value that can meet the expectations of Stakeholders, as expressed in its Bylaws, Code of Ethics and Sustainability Report³. This aim is achieved by providing services to its customers under conditions of the utmost safety and reliability and ensuring the development of infrastructure, new and more efficient technologies, and the flexibility of the gas system, in support of competitive growth and security in the supply system. Snam pursues a sustainable economic and business model that endorses respect for its people, based on the conviction that it is important to invest in, and constantly enhance, their expertise for the benefit of Stakeholders, the environment and the entire community.

At the European level, the Company promotes the integration of the European networks through comprehensive investments and corporate acquisitions, as well as strategic partnerships with the leading operators in the sector and institutional investors. In line with the principles of the European Third Energy Package⁴, which promotes the integrated development of infrastructure and the use of common rules for network access in different countries, Snam has increased its focus on the international scene in recent years.