Iren — M&A Activity 2019

Oct 9, 2019

IREN S.p.A. completes the purchase of Territorio e Risorse S.r.l., the owner of a composting and aerobic digestion plant in the Municipality of Santhià (Vercelli)

Reggio Emilia, 9 October 2019 – Following the signing of the preliminary contract on 23 July 2019, today the IREN Group, through its subsidiary IREN Ambiente, having verified all the conditions precedent, completed the acquisition of 100% of the share capital of Territorio e Risorse S.r.l., a company that has built and manages a composting and aerobic digestion plant in the Municipality of Santhià, in the province of Vercelli. This is an additional important investment in the eastern Piedmont area where the Iren Group has chosen to operate through ASM Vercelli.

The Province of Vercelli has authorised the expansion of the existing plant, which, starting from the current capacity of 36,000 tonnes per year and following an investment of approximately € 10 Mln will reach a potential of 50,000 tonnes per year, of which 40,000 tonnes of OFMSW and 10,000 tonnes of plant waste. The expansion will enable the plant to achieve an EBITDA of approximately € 2.5 Mln (starting from the current approximately € 650 thousand) with a production of approximately 2.6 Mln m³ of biomethane.

Iren Group Chairperson Renato Boero and Chief Executive Officer Massimiliano Bianco jointly stated:

This operation represents a further step forwards towards confirming Iren as an aggregating hub within its reference territories in keeping with the indications of the recent Business Plan. The transformation and recovery of the organic component of waste for the production of biomethane in Piedmont is in continuity with analogous investments being implemented and authorised in other territories"

Media Relations Paolo Colombo Tel. + 39 011.5549175 Mob: +39 348 220 6005 paolobartolomeo.colombo@gruppoiren.it

Barabino & Partners Tel. +39 02 72023535 Giovanni Vantaggi + 39 328 8317379 g.vantaggi@barabino.it