Slide 1: 9M 2024 Consolidated Results
9M 2024 Consolidated Results Rome, November 6th 2024
Slide 2: Agenda
Agenda Highlights 3 9M 2024 Results 8 Closing Remarks 17 Annexes 19 2
Slide 3: Highlights
Highlights aa lerna (Aes Driving Energy
Slide 4: Ensuring value creation for all stakeholders
Highlights Latest main achievements ▪ Regulatory consultation papers and resolution ▪ Term Sheet for the acquisition of a portion of Rome HV grid ▪ Agreement signed with European Investment Bank for a loan of €400 million ▪ New ESG-linked Credit Facilities signed for a total amount of €800 million ▪
Slide 5: Term Sheet for the acquisition of a portion of Rome HV grid
Highlights Term Sheet for the acquisition of a portion of Rome HV grid Acquisition perimeter • 481 km of HV grid in Rome and suburban areas • High-voltage equipment of 3 HV substations • Optical fiber network Rational • HV activities centralization • Operational optimization Value • Acquisition pric
Slide 6: Half of the Net Total Production covered by RES
Highlights Demand Evolution – Last 12 months DEMAND AS REPORTED (TWh) 3Q24 3Q23 Δ% 9M24 9M23 Δ% TWh 84.2 81.1 3.8% 235.8 231.0 2.1% Monthly energy demand 32 31.3 Previous Year 30 28 27.5 26 25.4 26.7 25.7 25.3 25.7 24 24.8 24.9 25.4 24.7 22 23.5 20 Oct Oct Nov Nov Dec Dec Jan Jan Feb Feb Mar Mar Apr
Slide 7: 9M 2024 Key Numbers
Highlights 9M 2024 Key Numbers 9M 2024 9M 2023 ∆ vs 9M 2023 Actual Actual €mn €mn Revenues 2,647 2,247 +18% EBITDA 1,892 1,556 +22% Group Net Income1 813 642 +27% Capex 1,699 1,434 +19% Net Debt2 10,018 10,494 Double-digit growth in all P&L lines and capex 1. Attributable to Terna; 2. 2023 Value rel
Slide 8: 9M 2024 Results
9M 2024 Results aa lerna (Aes Driving Energy
Slide 9: 18% Revenues increase
9M 2024 Results Revenues €mn +400 +17.8% 2,647 83 317 426 2,247 343 2,222 1,904 Regulated Activities1 Non Regulated and International Activities 9M23 ∆ ∆ 9M24 Regulated Non Regulated 1 Activities and International Activities 18% Revenues increase Note: figures may not add up due to rounding; 1. Incl
Slide 10: Strong contribution from Regulated Activities
9M 2024 Results Revenues Analysis REGULATED NON-REGULATED AND INTERNATIONAL €mn €mn +317 +16.7% 2,222 +83 1,904 325 -17 10 55 +24.2% 45 32 49 83 426 343 2,135 1,810 Transmission & Dispatching Other IFRIC12 9M23 ∆ ∆ ∆ 9M24 9M23 ∆ 9M24 Transmission & Dispatching Other IFRIC12 Non Regulated and Interna
Slide 11: Operating cost evolution driven by Non Regulated activities
9M 2024 Results Opex €mn +64 +9.3% 755 691 63 1 0 3 3 292 355 396 397 Regulated Activities1 9M23 ∆ ∆ ∆ 9M24 Non Regulated Act. Regulated Non Regulated International Activities¹ Activities Activities International Act. Operating cost evolution driven by Non Regulated increasing activities Note: figur
Slide 12: Regulated Activities as a catalyst for EBITDA growth
9M 2024 Results EBITDA GROUP REGULATED €mn €mn 316 +336 +21.6% 1,508 1,824 9M23 ∆ 9M24 NON-REGULATED AND INTERNATIONAL €mn 1,892 1,556 20 48 68 9M23 9M24 9M23 ∆ 9M24 Regulated Activities as a catalyst for EBITDA growth Note: figures may not add up due to rounding 12
Slide 13: ~27% increase in Net Income
9M 2024 Results From EBITDA to Net Income €mn 635 105 339 1,892 1,257 0 0 813 642 EBITDA D&A EBIT Net Taxes (Profit)/Loss Minority Group 1 Group Financial from Interest Net Income Net Income 1 Expenses discontinued 9M23 operation ~27% increase in Net Income Note: figures may not add up due to roundi
Slide 14: Strong Capex delivery: +~19% YoY
9M 2024 Results Capex TOTAL CAPEX REGULATED CAPEX €mn €mn 1,699 1,434 75 74 75 29% Development 1,625 1,625 1.625 Defence 1,360 61% 10% Asset Renewal & Efficiency 9M23 9M24 1 Regulated Non Regulated and Other Strong Capex delivery: +~19% YoY Note: figures may not add up due to rounding; 1. Of which a
Slide 15: Net debt evolution under control
9M 2024 Results Cash Flow & Net Debt Evolution €mn -477 10,494 10,018 -1,388 -360 -427 1,699 Dec.31, Operating Δ WC & Other 1 Capex Dividends,Equity Sep.30, 2023 Cash Flow & 2024 Others 2 Net debt evolution under control Note: figures may not add up due to rounding; 1. Including Other Fixed Assets C
Slide 16: Net Debt Evolution & Financial Structure
9M 2024 Results Net Debt Evolution & Financial Structure GROSS DEBT BREAKDOWN1 KEY RATIOS3 Fixed/Floating Ratio Bonds and CP 10% EIB ~ 86% Fixed Banks Calculated on Gross Debt 29% ~13€bn2 61% Maturity ~ 6 years Ensuring financial stability 1. Percentages calculated on Gross Debt nominal value; 2. IA
Slide 17: Closing Remarks
Closing Remarks aa lerna (Aes Driving Energy
Slide 18: Guidance improved
Closing Remarks Capex on track & acceleration on Plan targets through the deal for the acquisition of Rome HV grid Double digit results growth FY 2024 Guidance Guidance 2024 NEW OLD Revenues€bn 3.61 3.55 Guidance EBITDA€bn 2.50 2.42 improved EPS€cents 52 49 18
Slide 19: Annexes
Annexes aa lerna (Aes Driving Energy
Slide 20: Consolidated Income Statement
Annexes Consolidated Income Statement1 € mn 9M24 9M23 Δmn Δ% Total Revenue 2,647 2,247 400 17.8% Regulated Activities 2,222 1,904 317 16.7% Transmission 1,830 1,564 266 17.0% Dispatching 305 246 59 24.0% Other² 32 49 -17 -34.7% IFRIC12 55 45 10 21.5% Non Regulated and International Activities 426 34
Slide 21: Consolidated Balance Sheet
Annexes Consolidated Balance Sheet € mn Sep. 30,2024 Dec. 31,2023 Δmn PP&E 18,566 17,597 970 Intangible Asset 917 867 50 Financial Inv. and Other 431 501 -70 Total Fixed Assets 19,914 18,965 950 Net WC -2,482 -2,175 -308 Funds 22 -33 55 Net Capital Invested 17,454 16,757 697 Net Assets Held for Sale
Slide 22: Consolidated Cash Flow
Annexes Consolidated Cash Flow € mn 9M24 9M23 Total Net Income 813 638 D&A 1 630 564 Net Change in Funds -55 -34 Operating Cash Flow 1,388 1,168 Δ Working Capital & Other 2 427 -172 Cash Flow from Operating Activities 1,816 995 Capital Expenditures -1,699 -1,434 Free Cash Flow to Equity 116 -438 Net
Slide 23: Disclaimer
Disclaimer THIS DOCUMENT HAS BEEN PREPARED BY TERNA S.P.A. (THE “COMPANY”) FOR THE SOLE PURPOSE DESCRIBED HEREIN. IN NO CASE MAY IT BE INTERPRETED AS AN OFFER OR INVITATION TO SELL OR PURCHASE ANY SECURITY ISSUED BY THE COMPANY OR ITS SUBSIDIARIES. THE CONTENT OF THIS DOCUMENT HAS A MERELY INFORMATI
Slide 24: Notes
Notes 24
Slide 25: Notes
Notes 25
Slide 26: Notes
Notes 26
Slide 27: Corporate ESG
Corporate ESG Performance INDUSTRY TOP RATED RATED BY ISS ESG> Member of Dow Jones Member 2023/2024 . en. . Cats Sustainability Indices STOX Ha aml Powered by the S&P Global CSA Euronext® ESG Eurozone Biodiversity alli" SOLACTIVE CDP "4GRESB SUPPLIER INFRASTRUCTURE ENGAGEMENT a o LEADER 2023 Public
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