• Capex plan €762m (+17% vs LY). Delays due to Covid to be fully recovered by year end
• Efficiency plan ongoing: €60m cumulated already achieved
• Wacc review process initiated

Progress on international activities

• TAP commercial operating date confirmed in mid November
• First contribution of Adnoc Gas Pipelines Assets to P&L and successful first tranche take out (USD 4bn) via long term bond of acquisition financing

• Closing for a 50% stake in Iniziative Biometano
• Closing for a 70% stake of Mieci and Evolve
• Progress on hydrogen value chain development:
• • Strategic partnership with ITM Power, leading eloctrolyzers producer
  • Signed MoU with Ferrovie dello Stato to promote the study of Hydrogen in rail transport

Value creation from optimization of financial structure

• Lower financial charges -21% (from €126m in 9M 2019 to €100m 9M 2020)
• Annual renewal of the EMTN Programme approved for a total maximum amount of €11bn
• S&P affirms rating at BBB+, outlook improved to stable
• Snam founding member of the UN Global Compact CFO taskforce

Gas demand update

Gas consumption in Italy (Jan-September)

Reduction of gas demand of ca. 4.6bcm (-8.5%y-o-y)

• Civil sector: - 1.8bcm
• Power sector: - 1.6 bcm mainly due to lower electricity demand (-7%)
• Industrial sector: -0.9 bcm mainly due to the Covid-19 lockdown
• Gas demand: -7%y-o-y in Q1, -18%y-o-y in Q2, -1.5% in Q3

Weekly gas consumption

1.400,0

1.200,0

1.000,0

2019 2020

Progressive improvement in demand

• Industrial sector is continuing to recover from the end of the lockdown (May 4th, 2020) as the building sector too
• Increase of gas consumption for thermoelectric plants in September versus the previous year

• Positive effect from efficiency programme
• New businesses contribution

• Lower financial charges
• Normalization of associates contribution