Snam: Board of Directors approves the renewal of EMTN and ECP programs and relative issuances

San Donato Milanese (MI), 12 October 2020 - Snam's Board of Directors, which met today under the chairmanship of Nicola Bedin, approved the annual renewal of the EMTN Programme, launched in 2012, for a total maximum amount of 11 billion euros.

The Board of Directors consequently approved the issue of one or more additional bonds through the EMTN Programme by 12 October 2021, for a maximum amount of 2.72 billion euros, increased by the amount corresponding to the bonds potentially redeemed during the same period and to be placed with institutional investors operating mainly in Europe. The total nominal value of the bonds issued will not exceed the maximum limit of 11 billion euros.

The EMTN Programme is an effective tool to raise significant financial resources from the market in a fast and flexible way at competitive costs, in line with the expected evolution of the Company’s target financial structure. The bonds issued may be listed on one or more regulated markets.

To date, bonds for approximately 8.3 billion euros have been issued under the EMTN Programme.

The Board of Directors also approved the renewal of the Euro Commercial Paper Programme ("ECP Programme"), launched in 2018, and the issue of one or more Euro Commercial Papers through the ECP Programme by 3 years from 12 October 2020, up to a maximum amount of 2.5 billion euros and to be placed with institutional investors according to the terms and conditions provided for by the ECP Programme.

To date, Snam has 2 billion euros of commercial paper outstanding under the ECP Programme.

The ECP Programme will allow Snam to diversify its short-term financing instruments towards a more flexible treasury management optimization strategy. This may also be linked to ESG key performance indicators which will be outlined as part of Snam’s Strategic Plan in November 2020, thus increasing the sustainable finance instruments available to the Company.

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12 October 2020 - 18:15 CEST