Snam — Capital/Financing Update 2023

Nov 20, 2023

Informazione Regolamentata n. 0542-68-2023		Data/Ora Inizio Diffusione 20 Novembre 2023 19:18:27	Euronext Milan
Societa'	:	SNAM
Identificativo Informazione Regolamentata	:	183592
Nome utilizzatore	:	SNAMN02 - Pezzoli
Tipologia	:	REGEM
Data/Ora Ricezione	:	20 Novembre 2023 19:18:26
Data/Ora Inizio Diffusione	:	20 Novembre 2023 19:18:27
Oggetto	:	Bond	PR CS EU Taxonomy-Aligned Transition
Testo del comunicato

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NOT TO BE PUBLISHED OR DISTRIBUTED IN THE UNITED STATES, CANADA AND JAPAN

Snam: successfully launches its second EU Taxonomy-Aligned Transition Bond for 650 million euros with 4% coupon

San Donato Milanese (MI), 20 November 2023 – Snam S.p.A. (rated Baa2 by Moody's, BBB+ by S&P and BBB+ by Fitch) today successfully launched its second EU Taxonomy-Aligned Transition Bond whose proceeds will be used to finance projects to support the energy transition and, in particular, the Eligible Projects, as defined in Snam's Sustainable Finance Framework published in November 2021.

"Positive investors' dialogue in recent months and current favorable market conditions have contributed to the transaction success, which coupled with its sustainable finance features, allowed to record a peak demand in excess of 4 times the offer" - commented Snam's CFO Luca Passa. "This issuance represents an additional source of pre-funding to address 2024 investments and enables us to further reduce our debt cost volatility" he added.

Features of the EU Taxonomy-Aligned Transition Bond are as follows:

Amount: 650 million euros

Maturity: 27November 2029

Annual coupon of 4%. The reoffer price is 99.026% (equivalent to a spread of 113 bps over the reference mid swap rate).

The transaction is in line with Snam's commitment to give sustainable finance a key role in its strategy which includes, among others, a carbon neutrality target by 2040 and the further development of its energy transition businesses. Through today's issuance, Snam will also consolidate its target to obtain 80% of its funding through sustainable finance instruments after having already reached the target of 2026, doubling the sustainable finance portion over three years.

Details on the Sustainable Finance Framework are available on the company website: https://www.snam.it/export/sites/snam-rp/it/investor-relations/debito\_credit\_rating/file/Sustainable-Finance-Framework\_Snam\_29.11.2021.pdf

The notes are issued under Snam's 13 billion euros EMTN (Euro Medium Term Note) programme whose renewal was last approved by the Board of Directors on 11 October 2023 and will be listed on the Luxembourg Stock Exchange.

Snam Press Office T+ 39 02.37037273 ufficio.stampa@snam.it

Joint Bookrunners of the placement are BBVA, Citi, Crédit Agricole CIB, IMI-Intesa Sanpaolo, Morgan Stanley, MUFG and UniCredit.

DISCLAIMER

This announcement (and the information contained therein) does not constitute or form part of any offer to sell nor a solicitation of any offer to buy any securities nor shall there be any offer of securities in any jurisdiction in which such offer or sale would be unlawful. It may be unlawful to distribute this announcement in certain jurisdictions. This announcement does not constitute an offer of securities for sale in the United States, Canada and Japan and in any jurisdiction in which such offer or sale would be unlawful and is not for publication or distribution in any such jurisdictions. The securities referred to in this announcement have not been and will not be registered under the US Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This announcement is not a public offer of financial products in Italy as per Article 2, letter (d), of Regulation (EU) 2017/1129. The documentation relating to the offer has not been/will not be submitted to the approval of CONSOB.