Ascopiave S p A : Purchases majority stake in Eusebio Energia S.r.l., a company operating in the energy field

PRESS RELEASE

ASCOPIAVE PURCHASES MAJORITY STAKE IN EUSEBIO ENERGIA S.R.L., A COMPANY OPERATING IN

THE ENERGY FIELD

Ascopiave S.p.A. ("Ascopiave") herein notifies that it has finalised, as of today's date, an additional investment in the renewable energy sector relating to hydro-electricity and wind power, as stated in the Strategic Plan 2020-2024.

The investment consists of the purchase, by Ascopiave, of a majority stake, held by Supermissile S.r.l., equal to 79.74% of the share capital of Eusebio Energia S.r.l. ("Eusebio"), a company operating in the energy field.

Eusebio has 22 production plants for electric power generation from renewable sources, of which 21 hydro-electric plants for a total capacity of 44 MW, located in in the Lombardy and Veneto regions; and a 14 turbine of 1 MW each wind power plant, situated in Campania region.

The price paid upon closing for the purchase of the majority stake, as stated above, is Euro 44.8 million; it features an earn-out mechanism. Eusebio's net financial position, at 31 December 2021, is estimated at Euro 18.5 million. Its preliminary EBITDA in fiscal 2021 is estimated approximately at Euro 13 million. Year 2022 figures are expected to be in line with the previous accounting period results, gross of compensations envisaged in the recent regulatory framework.

The Chairman, CEO and General Manager of Ascopiave S.p.A., Dr. Nicola Cecconato has said: "I am very proud of this operation which confirms the commitment of the Ascopiave Group in the field of renewable energy, in the sphere of an increasingly greener and sustainable business, to endeavour in the implementation of the national energy transition policy".

In the operation, Ascopiave was assisted by the financial advisor Lazard and by the law firm BonelliErede. The seller availed itself of the services provided by Brera Financial Advisory, a Clearwater International partner, and by the law firm Losa.

* * *

The Ascopiave Group is one of the leading operators in natural gas distribution in the country.

The Group owns concessions and direct assignments for the management of activities in 268 towns, supplying services to about 775,000 inhabitants, through a network which spreads over 12,000 kilometres. Ascopiave is also a partner of the Hera Group in the sale of gas and electricity, through a 48% stake in Estenergy, a leading operator in the field holding a portfolio of over 1 million sales contracts to end users, mainly in Veneto, Friuli Venezia-Giulia and Lombardy regions.

Ascopiave also operates in the water sector. It is a shareholder and technological partner of Cogeide, which manages the integrated water service in 15 Towns within the Bergamo Province, by serving a population of over 100 thousand with a network of 880 km.

Furthermore, Ascopiave operates in the hydro-electric field, through 6 hydroelectricity generation facilities, with a rated capacity of

4.6 MW. Through the subsidiary Salinella Eolico S.r.l., Ascopiave is about to start the construction of a wind power plant. Ascopiave has been listed under the Euronext Star Milan segment of Borsa Italiana since 12th December 2006.

1

Contact:	Community Group	Ascopiave
	Giuliano Pasini	Tel. 0438 / 980098
	Gianandrea Gamba	Roberto Zava - Media Relator
	Tel. 0422 / 416111	Cell. 335 / 1852403
	Cell. 335 / 6085019	Giacomo Bignucolo - Investor Relator
		Cell. 335 / 1311193

Pieve di Soligo, 28th January 2022

2