Iren — M&A Activity 2022

Feb 16, 2022

PRESS RELEASE

Iren completes the acquisition of 121.5 MW of photovoltaic plants from European Energy

Reggio Emilia, 16 February 2022 – Further to the announcement made on 14 January 2022, Iren S.p.A. informs that, in accordance with the terms of the sale and purchase agreement, it has today completed, through its subsidiary Iren Energia S.p.A, the acquisition of the entire share capital of Puglia Holding Srl. This company fully controls 5 Special Purpose Vehicles (SPVs) holding the various authorisations for the construction and management of the Troia photovoltaic parks located in San Vincenzo and Montevergine in the province of Foggia and the Palo del Colle complex located in the province of Bari.

In line with the above agreement, the transaction has an enterprise value of EUR 166 million.

The photovoltaic plants of the company Puglia Holding Srl have an installed capacity of 121.5 MW and an average annual production of approximately 180 GWh. Following this operation, Iren manages approximately 140 MW of photovoltaic capacity which, added to the 604 MW of hydroelectric capacity, brings the total renewable capacity of the group to 744 MW.

The operation allows Iren to grow in the renewables sector, in particular in the photovoltaic sector, and fully falls within the strategic investments for the ecological transition outlined in the Business Plan, in which the target of new renewable capacity installed by 2030 is 2.2 GW.

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Investor Relations Giulio Domma Tel. + 39 0521.248410 investor.relations@gruppoiren.it Media Relations Roberto Bergandi Tel. + 39011 5549911 Mob. + 39 335.6327398 roberto.bergandi@gruppoiren.it

Barabino & Partners Giovanni Vantaggi Tel. +39 02.72023535 Mob. + 39 328.8317379 g.vantaggi@barabino.it