Snam S p A : The Snam Shareholder - 2025

THE sNAM sHAREHOLDER

2025

Energy infrastructure for a sustainable future

COMPANY PROFILE

Snam is a leading European operator in gas infrastructure, specialized in Transportation, with a network exceeding 40,000 km across Italy and abroad; in Storage, holding one-sixth of the European Union's entire storage capacity; and in Regasification, where today it ranks as the third largest European player, managing (or co-managing) an estimated annual capacity of 28 billion cubic metres, including the Ravenna LNG plant.

Snam's long-term ambition is to develop and strengthen energy infrastructure for a sustainable future, positioning itself as a multi-molecule operator at both national and European levels. The company prioritizes transformative innovation and all-round sustainability as its key strategic levers, enhancing the role of gas as a transition vector. Snam is among the top listed Italian companies by market capitalisation and is committed to continuous growth in sustainable finance.

With 80 years of experience in building and managing infrastructure, Snam ensures security of supply and supports the energy transition through investments in green gas (biomethane and hydrogen), energy efficiency, and Carbon Capture and Storage (CCS) technology. The company also fosters new green spaces via a benefit corporation dedicated to urban reforestation projects.

Compared to 2022, Snam has already reduced direct greenhouse gas emissions by 28% and is setting the next targets of 40% in 2030 and 50% in 2032, in order to achieve carbon neutrality (100%) by 2040 and Net Zero for all emissions, including those of associated companies and suppliers, by 2050. These ambitious goals, outlined in the Group's Transition Plan, are complemented by Snam's commitment to protecting biodiversity and regenerating natural capital.

The company's culture focuses on sustainable growth, transparency, valuing new generations, talent and diversity, along with social promotion and development of local communities.

Dear shareholders,

the purpose of this Guide is to provide annually both current and potential owners of Snam shares with a summary of relevant information. Starting from 2010, it is part of a series of tools to enhance our communication with retail investors.

We believe that the trust you have showed us must be cultivated through an increasingly effective dialogue. The first part of the Guide outlines the Group's structure, its business and strategic guidelines. The second part presents Snam operating areas and new businesses of the energy transition. The Guide also presents some key features about Snam shares and practical information so that you can get involved in your role as a shareholder.

We hope that these pages will be easy and interesting to read, as well as helpful.

By nature, this Guide is not an exhaustive product. In order to obtain more complete information we invite you to visit our corporate website at https://www.snam.it or, for specific requests, to contact the Investor Relations department.

GENERAL INDEX

SNAM

Group structure	pag.	9
Positioning of excellence in the ESG indices	pag.	10
A pan-European multi-molecule infrastructure for a sustainable future	pag.	11
Investment plan	pag.	12
Sustainability	pag.	15
Sustainability Scorecard	pag.	17

Snam overview Snam's activities Governance

pag. 5

pag. 6

Transportation	pag.	27
Storage	pag.	29
Regasification, Small Scale LNG and Sustainable mobility	pag.	30
Energy transition businesses pag. 33	pag.	31

pag. 8

pag. 26

SNAM BUsINEssEs

Transformative innovation	pag.	18	SNAM ON THE STOCK EXCHANGE
Financial strategy	pag.	19
International strategy	pag.	20	Remuneration through dividends	pag.	34
Snam enters the capital of Open Grid Europe	pag.	22	Stock market performance	pag.	35
Growth targets and remuneration	pag.	23	Shareholder	pag.	36
Regulation in Italy	pag.	24	The financial structure	pag.	37
Regulation in Europe	pag.	25	Income statement figures	pag.	38
			Balance sheet figures	pag.	39
			Cash Flow	pag.	40

pag. 41

GET INVOLVED IN YOUR SNAM INVEsTMENT

The steps to investing

How to keep yourself informed and participate in corporate events

pag. 42

pag. 43

THE SNAM SHAREHOLDER 2025

snam Shareholder 2025

SNAM

SNAM BUSINESSES

SNAM ON THE STOCK EXCHANGE

GET INVOLVED IN YOUR SNAM INVESTMENT

SNAM OVERVIEW

*On 7 April 2025, Snam signed an agreement to acquire 24.99% of Open Grid Europe.

INTERCONNECTOR

0GE*

GCA

Italian Network Storage plants Regasification plants LNG terminals

FSRU (Floating storage and regasification unit)

W ORK IN PROGRESS

Stakes in international gas pipelines Storage plants

Regasification plants LNG terminals

Other international pipelines

SNAM SNAM AND ASSOCIATES (PRO-QUOTA)

~ € 23.8 bn

~33,000

km2

~17 bcm capacity

19 bcm/y capacity3

~ € 28 bn4

~37,500

km5

~20 bcm capacity6

22 bcm/y capacity7

GAS INFRASTRUCTURE

RAB1

Transport

Storage

Regasification

RAB1

Transport

Storage

Regasification

1. 2024 Tariff RAB (Regulatory Asset Base)

2. o/w 10,000 national & 23,000 regional network

   ENERGY TRANSITION

   Biomethane

   Energy Efficiency

   fficienza energetica

   € 1.4 bn Backlog

   40 MW

   E

   Decarb

   H2 backbone H2 projects Ravenna CCS

   Prinos (Desfa)

   CCS

   Pycasso (Terega)

   Storage & dCarbonX

   H2 Med (Teraga)

   H2

   Grecia Bulgaria (Desfa)

   De Nora

3. Including also Italis LNG and BW Singapore

4. Including TAG, GCA, Teréga, Desfa, Italgas e OLT pro-quota 2024 tariff RAB

5. Including TAG, Desfa, GCA, Terèga, Interconnector, TAP, Adnoc, EMG, Seacorridor pro-quota transport km

6. Including Teréga pro-quota storage capacity

7. Including also Italis LNG, BW Singapore and the pro-quota of OLT, Adriatic LNG, Revithoussa and Alexandroupolis

5