Slide 1: 3M 2026 Consolidated Results
Ascopiave Group 3M 2026 CONSOLIDATED RESULTS Conference Call Gruppo Pieve di Soligo, 7th May 2026
Slide 2: Ascopiave Group structure as of 31st March 2026
Ascopiave Group Ascopiave Group structure as of 31st March 2026 3M 2026 CONSOLIDATED RESULTS 100% 18.33% 100% 100% 13% 100% 90% 100% 5% 100% (1) (2) 100% (3) Minority interests Companies consolidated using the full Companies consolidated using the full The investment in Cogeide is consolidated using
Slide 3: Change in the consolidation scope and participations disposals
Ascopiave Group Change in the consolidation scope and participations disposals 3M 2026 CONSOLIDATED RESULTS CHANGE IN THE CONSOLIDATION SCOPE PARTICIPATIONS DISPOSALS Acquisition of AP Reti Gas North as of 1st July Sale of 25% of the share capital of Estenergy as 2025 of 24th June 2025 Sale of 3% of
Slide 4: 3M 2026 consolidated income statement
Ascopiave Group 3M 2026 consolidated income statement 3M 2026 CONSOLIDATED RESULTS (Thousands of Euros) 3M 2026 3M 2025 Chg Chg % Revenues 70,781 54,790 15,991 +29% (Raw materials, consumables, supplies and goods) (1,169) (797) (372) +47% (Costs for services) (21,293) (12,834) (8,460) +66% (Costs fo
Slide 5: Consolidated balance sheet as of 31st March 2026
Consolidated balance sheet as of 31st March 2026 Ascopiave Group 3M 2026 CONSOLIDATED RESULTS (Thousands of Euros) 31/03/2026 31/12/2025 Chg Chg % Tangible assets (1) 183,586 184,244 (658) -0% Non tangible assets (1) 1,318,158 1,316,890 1,268 +0% Investments in associates (2) 54,947 56,526 (1,579) -
Slide 6: Operating data
Ascopiave Group Operating data 3M 2026 CONSOLIDATED RESULTS GAS DISTRIBUTION RENEWABLE ENERGIES Number of gas distribution users Volumes of gas distributed Volumes of electricity produced (Million of standard cubic meters) (GWh) -2,011 +400.8 -5.1 -0% +66% -15% 1,008.1 (1) 404.5 1,465,990 1,468,001
Slide 7: Revenues
Ascopiave Group Revenues 3M 2026 CONSOLIDATED RESULTS Revenues bridge Gas distribution tariff revenues (Thousand of Euro) (Thousands of Euros) (3) 3M 2026 3M 2025 Chg Chg % +15,991 Gas distribution tariff revenues 57,569 42,301 15,268 +36% +29% Gas distribution tariff revenues 57,569 42,301 15,268 +
Slide 8: EBIT & net operating costs
Ascopiave Group EBIT & net operating costs 3M 2026 CONSOLIDATED RESULTS EBIT bridge Net operating costs (Thousand of Euro) (Thousands of Euros) (2) 3M 2026 3M 2025 Chg Chg % -1,143 Other revenues 8,982 7,715 1,267 +16% -7% Costs of raw materials and services (29,037) (20,004) (9,033) +45% Cost of pe
Slide 9: Personnel
Ascopiave Group Personnel 3M 2026 CONSOLIDATED RESULTS Number of employees Employees at 31/03/2026 Cost of personnel (Thousand of Euro) +16 +701 +2% +14% 77 13 1,612 659 872 39 749 733 5,731 5,031 Gas Distribution 3M 2025 Change of the Capitalized cost of Other changes 3M 2026 Renewable Energies con
Slide 10: Capex
Ascopiave Group Capex 3M 2026 CONSOLIDATED RESULTS Capex Capex at 31/03/2026 Change in the scope of (Thousand of Euro) consolidation (1): Euro 6,2 mln +6,229 (Thousand of Euro) On a like-for-like basis: +41% • Investments in gas distribution systems: Euro 9.7 mln (1) 21,557 • Investments in gas mete
Slide 11: Net financial position and cash flow
Ascopiave Group Net financial position and cash flow 3M 2026 CONSOLIDATED RESULTS Net financial position and cash flow (Thousand of Euro) -19,315 -3% 21,557 30,695 27,407 44,160 614,206 594,890 31/12/2025 Cash flow Capex Change in NWC Purchase of assets 31/03/2026 (1) (2) and shareholdings (3) Notes
Slide 12: Financial debt
Ascopiave Group Financial debt 3M 2026 CONSOLIDATED RESULTS Financial debt (Thousands of Euros) (1) 31/03/2026 31/12/2025 Chg Chg % Long term financial borrowings 405,296 394,170 11,126 +3% Current position of long term financial borrowings 63,745 63,279 466 +1% Long term bond loans 138,305 146,078
Slide 13: Disclaimer
Ascopiave Group Disclaimer 3M 2026 CONSOLIDATED RESULTS Disclaimer ❖ This presentation has been prepared by Ascopiave S.p.A. for information purposes only and for use in presentations of the Group’s results and strategies. ❖ For further details on the Ascopiave Group, reference should be made to pub