Page 1

Press release Third quarter 2021 ● First nine months of 2021 ● ● ● ● ERG The Board of Directors of ERG S.p.A. approves the Interim Financial Report at 30 September 2021 Adjusted consolidated EBITDA¹ : EUR 119 million , EUR 99 million in the third quarter of 2020 . Adjusted Group net profit ( loss ) : EUR 30 million , EUR 9 million in the third quarter of 2020 Adjusted consolidated EBITDA : EUR 400 million , EUR 362 million in the first 9 months of 2020 . Adjusted Group net profit ( loss ) : EUR 130 million , EUR 79 million in the first nine months of 2020 . Solid financial performance vs volatile scenario : in an extremely volatile market , characterised by an unprecedented increase in commodities ' prices , the Group recorded excellent results , with marked growth in EBITDA ( + 20 % ) and in the Group's net profit ( loss ) ( + 65 % ) compared to the same period of 2020 . Towards a pure " Wind & Solar ” business model : at the beginning of August , ERG reached an agreement with Enel for the sale of the hydroelectric asset for EUR 1 billion , whose closing will take place in the very first days of 2022. An important step towards the transformation of ERG into a " Wind & Solar " pure player . Growth of the RES portfolio in Europe : in October ERG has reached an agreement , lately perfectioned , for the acquisition of 15 wind farms and solar plants for a total installed capacity of 152.4 MW and an enterprise value of EUR 202 million - in France and Germany , geographical segments in which the Group is consolidating its presence , strengthening the local structure , and developing important industrial synergies . The related economic and financial effects will be consolidated from 4Q 2021 . Focus on Repowering and organic development : ERG was awarded 143 MW of new capacity from Repowering in Italy with a 20 - year tariff as part of the sixth auction called by GSE ( Gestore dei Servizi Elettrici ) . It also obtained full authorisation for a project from Repowering and a green field in Italy for a total capacity of 100 MW as part of the seventh auction concluded on last 30 October 2021. Construction of wind farms continues in the UK for approximately 250 MW , in Poland for 60 MW , in France for 27 MW and in Sweden for 62 MW , in line with targets . Progress on " quasi - regulated ” infrastructure model : a five - year PPA was signed in October with Engie for the withdrawal of renewable energy generated by five ERG wind farms located in France . Issue of the third green bond : thanks to the success of the recently placed third green bond of EUR 500 million , the first with a maturity of 10 years , ERG is now one of the leading Italian " green " issuers . As of today , ESG financing sources are equal to 86 % of the total debt of the Group . 2021 guidance : for the third time in a row , forecasts have been revised upwards for EBITDA , which is now in a range between EUR 520 and EUR 550 million ( previously 505-525 million ) , for capital ¹ To enhance the understandability of the business segments ' performance , the operating results are shown excluding special items ; these results are indicated with the " adjusted " definition . For the definition of indicators and the reconciliation of the amounts involved , reference is made to that indicated in the " Alternative Performance Indicators " section in this document . page 1