Terna

Capital/Financing Update • Mar 25, 2025

MOODY'S AND S&P CONFIRM TERNA'S RATING: Baa2 AND BBB+ RESPECTIVELY WITH STABLE OUTLOOK

The rating Agencies confirmed Terna's rating after the publication of the 2024-2028 Industrial Plan update with significant increase in investments

Rome, 25 March 2025 – Today, following the presentation of Terna's 2024-2028 Industrial Plan update, Moody's Investor Service (Moody's) and S&P Global Rating (S&P) confirmed the long-term rating held by the Company, respectively at Baa2 and at BBB+, with stable outlook, a notch above the rating held by the Italian Republic.

The update of the Plan foresees a significant increase in investments, marking a new record for the Group (over the same time period of the previous Plan), confirming Terna's increasingly central role as a key enabler for the energy transition towards decarbonization and reduction of Italy's dependence on foreign sources of supply.