Green Bond Framework (Terna Green Bond Framework 8ddbf10ff0bcca2)

2025

MISSION

Terna is investing in Italy's development

We guarantee energy security and balance electricity supply

and demand 24 hours a day, ensuring that the system is reliable, efficient and accessible to all.

We invest and innovate every day in the development of an electricity grid capable of integrating the energy produced from renewable sources, improving links between the different areas of the country and strengthening cross-border interconnections, applying a sustainable approach that takes into account the needs of the communities and people we work with.

PURPOSE

We are behind the energy you use every day

We are responsible for guaranteeing the continuity of power supply, essential in making sure that electricity reaches Italian homes and businesses at all times.

We provide everyone with equal access to electricity and are working to provide clean energy for future generations.

VISION

We care about the future of energy

We are committed to building a future powered

by clean energy, enabling new forms of consumption

and production increasingly based on renewable sources.

This will allow us to achieve the goal of delivering an energy transition that is fair and inclusive, whilst also lowering costs.

Thanks to our overall vision of the electricity system and new digital technologies, we are leading the country's drive

to get to net zero by 2050, in line with European climate goals.

Contents

1 Introduction 6

About Terna 6

Electricity Transmission: the role of Terna for Italy 6

1. Terna: Committed to Sustainability 7

   Driving energy transition 7

   Operating responsibly 9

   Financial resources and sustainable finance 11

   International indices and ESG ratings 12

   Rationale behind the Green Bond Framework 13

2. Use of Proceeds 14

3. Project Evaluation and Selection Process 16

4. Management of Proceeds 18

5. Reporting 19

   Allocation reporting 20

   Impact reporting 20

6. External Review 21

Second Party Opinion 21

Annual Assurance Report 21

ANNEX 1 - Examples of Eligible Green Projects 22

GREEN BOND FRAMEWORK | TERNA S.P.A. 5