Slide 1: 1H 2024 Consolidated Results
1H 2024 Consolidated Results Rome, July 26th 2024
Slide 2: Agenda
Agenda Highlights 3 1H 2024 Results 8 Closing Remarks 17 Annexes 19 2
Slide 3: Highlights
Highlights aa lerna (Aes Driving Energy
Slide 4: Highlights: Grid development and digitalization as drivers for sustainable growth
Highlights Latest main achievements ▪ Reinforcing Terna’s leadership in the Twin Transition ▪ Included in global ESG indexes and awarded for its sustainability best practices ▪ New ESG-linked Credit Facilities ▪ 2023 Final Dividend of 22.50 €cents/ share paid in June Grid development and digitalizat
Slide 5: Focus on Execution
Highlights Main projects’ execution Authorization Main Procurement contracts Adriatic Link Tyrrhenian Link ✓ ✓ SACOI 3 Italy-Tunisia ✓ Tenders ongoing Tyrrhenian Link Adriatic Link ✓ ✓ SACOI 3 ✓ ✓ Italy-Tunisia Focus on Execution 5
Slide 6: Demand Evolution: highest ever monthly RES coverage in May and June
Highlights Demand Evolution – Last 12 months DEMAND AS REPORTED (TWh) 1H24 1H23 Δ% TWh 151.6 149.9 1.1% Monthly energy demand 32 Previous Year 30 30.0 28 26 25.8 26.7 25.4 25.7 25.7 24 25.4 24.8 24.9 25.3 24.7 22 23.5 20 Jul Jul Aug Ago Sep Sep Oct Oct Nov Nov Dec Dec Jan Jan Feb Feb Mar Mar Apr Apr
Slide 7: 1H 2024 Key Numbers
Highlights 1H 2024 Key Numbers 1H 2024 1H 2023 ∆ vs 1H 2023 Actual Actual €mn €mn Revenues 1,754 1,485 +18% EBITDA 1,257 1,019 +23% Group Net Income1 545 411 +32% Capex 1,042 831 +26% Net Debt2 10,329 10,494 Double digit growth in all P&L lines and Capex 1. Attributable to Terna; 2. 2023 Value relat
Slide 8: 1H 2024 Results
1H 2024 Results aa lerna (Aes Driving Energy
Slide 9: Revenues increase in all business areas
1H 2024 Results Revenues €mn +269 +18.1% 60 1,754 209 1,485 282 222 1,473 1,263 Regulated Activities1 Non Regulated and International Activities 1H23 ∆ ∆ 1H24 Regulated Non Regulated Activities 1 and International Activities Revenues increase in all business areas Note: figures may not add up due to
Slide 10: Regulated and Non Regulated revenues as growth driver
1H 2024 Results Revenues Analysis REGULATED NON-REGULATED AND INTERNATIONAL €mn €mn +209 +16.6% 1,473 +60 1,263 +26.9% 212 -9 7 34 27 23 60 282 32 222 1,416 1,204 Transmission & Dispatching 282 Other 222 IFRIC12 1H23 ∆ ∆ ∆ 1H24 1H23 ∆ 1H24 Transmission & Other IFRIC12 Non Regulated Dispatching and I
Slide 11: Operating cost evolution reflecting Non Regulated activities increase
1H 2024 Results Opex €mn +31 +6.7% 497 466 -13 44 0 2 2 191 235 274 260 Regulated Activities1 1H23 ∆ ∆ ∆ 1H24 Regulated Non Regulated International Non Regulated Act. Activities¹ Activities Activities International Act. Operating cost evolution reflecting Non Regulated activities increase Note: figu
Slide 12: EBITDA growth driven by Regulated Activities
1H 2024 Results EBITDA GROUP REGULATED €mn €mn 223 +238 +23.4% 990 1.212 1H23 ∆ 1H24 NON-REGULATED AND INTERNATIONAL €mn 1,257 15 1,019 45 30 1H23 1H24 1H23 ∆ 1H24 EBITDA growth driven by Regulated Activities Note: figures may not add up due to rounding 12
Slide 13: +32% increase in Group Net Income
1H 2024 Results From EBITDA to Net Income €mn 421 +32% YoY 1,257 63 227 836 1 0 545 411 EBITDA D&A EBIT Net Taxes (Profit)/Loss Minority Group 1 Group Financial from Interest Net Income Net Income 1 Expenses discontinued 1H23 operation +32% increase in Group Net Income Note: figures may not add up d
Slide 14: Record-breaking Capex
1H 2024 Results Capex TOTAL CAPEX REGULATED CAPEX €mn €mn 1,042 831 47 54 28% Development 996 996 Defence 777 62% 10% Asset Renewal & Efficiency 1H23 1H24 1 Regulated Non Regulated and Other Record-breaking Capex Note: figures may not add up due to rounding; 1. Of which about 32 €mn of Capitalized F
Slide 15: Operating cash flow generation to support capex plan
1H 2024 Results Cash Flow & Net Debt Evolution €mn -166 10,494 10,329 1,042 406 931 128 1 Dec.31, Operating Δ WC & Other Capex Dividends,Equity Jun.30, 2023 Cash Flow & 2 2024 Others Operating cash flow generation to support capex plan Note: figures may not add up due to rounding; 1. Including Other
Slide 16: Net Debt Evolution & Financial Structure
1H 2024 Results Net Debt Evolution & Financial Structure GROSS DEBT BREAKDOWN1 KEY RATIOS3 Fixed/Floating Ratio Bonds and CP 9% EIB ~ 89% Fixed Banks Calculated on Gross Debt 29% ~13 2 €bn 62% Maturity ~ 6 years Maintaining a solid and diversified financial structure 1. Percentages calculated on Gro
Slide 17: Closing Remarks
Closing Remarks aa lerna (Aes Driving Energy
Slide 18: Closing Remarks: Confirming 2024 Guidance
Closing Remarks Well on track on the execution of Capex Plan Maintaining financial stability and low-risk profile Confirming 2024 Guidance 18
Slide 19: Annexes
Annexes aa lerna (Aes Driving Energy
Slide 20: Consolidated Income Statement
Annexes Consolidated Income Statement1 Notes: figures may not add up due to rounding; 1) Managerial Accounting 2) Including Quality of Service 20
Slide 21: Consolidated Balance Sheet
Annexes Consolidated Balance Sheet 21
Slide 22: Consolidated Cash Flow
Annexes Consolidated Cash Flow Notes: figures may not add up due to rounding; 1) Net of assets’ disposal 2) Including Other Fixed Assets Changes 3) Including Cash Flow Hedge accruals, Hybrid Green Bond and other 22
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 Performance
Corporate ESG Performance INDUSTRY TOP RATED RATED BY Iss ESG> " Member of Dow Jones Miember 2023/2024 Ps or . oye Sustainability Indices STOX% BSG Leaders Powered by the S&P Global CSA Euronext® ESG Eurozone Biodiversity Leaders PAB Index 1 EURONEXT EcpISS Se ip Tindices CDP SUPPLIER ENGAGEMENT LEA
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