Terna — Capital/Financing Update 2021

Dec 17, 2021

TERNA REFINANCES ESG-LINKED CREDIT FACILITY WORTH UP TO €1.65 BILLION

Transaction follows €600 million green bond issue completed in June

Rome, 17 December 2021 – Terna S.p.A. ("Terna") has today signed an amending agreement to the back-up ESG-linked Revolving Credit Facility formerly obtained on 24 September 2018 in "committed" form (the "RCF 2018"), with the spread and fees linked to the Company's performance against specific ESG indicators.

In particular, the transaction consists in the modification of the RCF 2018 in order to extend its duration to 5 years from today, to increase the amount of credit up to a total of €1.65 billion and amend the ESG indicators. The pool of banks taking part in the transaction is made up by the same financial institutions involved in the RCF 2018: Unicredit, BNP Paribas/BNL, Banco BPM, Intesa Sanpaolo and Mediobanca. UniCredit also partnered with Terna in the role of Sustainability Coordinator.

Following the success of the Green Bond issue of June 2021, this transaction will further embed sustainability targets in the Company's business strategy through a mechanism based on bonuses and penalties linked to the achievement of specific environmental, social and governance (ESG) objectives. The transaction allows Terna to count on a liquidity appropriate to its current rating and confirms the Group's strategy of combining sustainability and growth to enable the current energy transition and generate ever greater benefits for Italy and all stakeholders of the Company.