The new corporate structure

The new corporate structure (Graphic)

Snam is the European leader in the construction and integrated management of natural gas infrastructure.

At European level Snam is one of the main operators in terms of invested capital for regulatory purposes and operates in major markets through agreements with major players in the industry and direct equity holdings in companies.

Snam, with natural gas transportation, dispatching, storage and LNG regasification activities, provides the market with a safe energy source at fair prices, playing a fundamental role in the Country’s energy system.

The main changes in the Snam group structure as at 31 December 2017, compared with 31 December 2016, were the incorporation of: (i) Asset Company 2 S.r.l. , 100% owned by Snam S.p.A.; (ii) Infrastrutture Trasporto Gas S.p.A. (ITG), 100% owned by Asset Company 2 S.r.l., based on the acquisition by Edison of 100% of the share capital of ITG, effective 13 October 20173; (iii) Snam4Mobility S.p.A. (Asset Company 1 S.r.l. up to 13 December 2017), fully-owned by Snam S.p.A., in response to the company’s launching of operational activities. The foregoing companies were consolidated within the “Transportation” and “Corporate and other activities” sectors, respectively.

3 At the same time Snam acquired, from Edison, a 7.3% stake in the capital of the Terminale GNL Adriatico S.r.l. (Adriatic LNG), a major offshore infrastructure for the unloading, storage and regasification of LNG and the largest LNG terminal in Italy.

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