Iren — M&A Activity 2021

Mar 31, 2021

PRESS RELEASE

Iren Group acquires control of Futura S.p.A.

Reggio Emilia, 31 March 2021 – As part of the consolidation and rationalization activities resulting from the purchase of the environmental division of Unieco Società Cooperativa in L.C.A., late yesterday, Iren Ambiente S.p.A. has completed the purchase from S.I.T. - SOCIETA' IGIENE TERRITORIO - S.P.A. of a 20% share of the Futura S.p.A's share capital, a company based in Grosseto that manages a mechanical biological treatment plant for unsorted waste and composting for the production of quality compost.

The price paid for the purchase of the stake is equal to 1.1 million euros. Following the transaction, the Iren Group came to hold an overall stake representing 60% of the share capital of Futura S.p.A. Considering an Ebitda reported, in 2020, of 3.5 million euros, the transaction reflects an EV/Ebitda multiple of about 7.5.

Futura S.p.A. currently manages a mechanical and biological treatment plant, that treats about 140 ktons/year of unsorted waste and organic fraction and, a composting section for the organic and green fraction of 33 ktons/year. The concession of the plant expires in 2041. The company's Industrial Plan provides the construction of an anaerobic digestion plant of the organic fraction of 80 ktons/year, with a full production of 4.6 mcm/year of biomethane. The planned investment is around 26 million over three years and will allow the company to reach an Ebitda of around 6.5 million euros.

Iren Group	Photos	Investor Relations	Iren Overview
Investor Relations		Media Relations	Barabino & Partners

Giulio Domma Tel: +39 052 124 8410 investor.relations@gruppoiren.it Roberto Bergandi Tel. + 39 011.5549911 Mob. + 39 335.6327398 roberto.bergandi@gruppoiren.it

Giovanni Vantaggi Tel. +39 027 202 3535 Mob: + 39 328 831 7379 g.vantaggi@barabino.it