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Page from the Sustainability Report

The Strategic Plan

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The Strategic Plan for the period 2013-2017, after approval by the Company’s Board of Directors, was presented on February 6, 2013. It can be summarized in the following points.

Core Business

Grid development is the priority, also introducing new technologies

The Strategic Plan

The Strategic Plan for the period 2013-2017, after approval by the Company’s Board of Directors, was presented on February 6, 2013. It can be summarized in the following points.

Core Business

Grid development is the priority, also introducing new technologies

Organizational Model under Legislative Decree no. 231/2001

Since December 2002, Terna's Board of Directors has resolved to adopt an Organizational and Management Model that met the requirements of Legislative Decree no. 231 of June 8, 2001, which introduced into the Italian Law a system of administrative (and criminal) liability for companies with respect to certain types of offences committed by their Directors, managers or employees in the Company's interest or to its benefit. The Model was updated in June 2004, after the Company's shares were listed.

The Code of Ethics

The Code of Ethics was approved by the Board of Directors of December 21, 2006. The result of a process of internal reflection which involved top management and the first management line, it is the highest reference in identifying the sustainability issues relevant for Terna, and in defining internal policies and guidelines. It can be used as a concrete guide for everyday decisions, helping to achieve the objective of establishing and consolidating a relationship of trust with the stakeholders.

The Code is divided into five sections, which describe:

Corporate Governance

Terna's governance structureis based on the traditional model of administration and control, and is compliant with the provisions of the Italian legislation on the subject of listed companies.

Ownership structure

Terna S.p.A. has been listed on the Italian Stock Exchange since June 2004.

As of the Board of Directors' meeting on 15 March 2013, at which the annual report was approved, the share capital of Terna S.p.A. amounted to €442,198,240, represented by 2,009,992,000 ordinary shares with a par value of €0.22 each.

On the basis of the register of shareholders and other information available at the date of preparation of this report, the ownership of Terna S.p.A. is divided as follows:

Other activities

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With a view to completing the activities performed on licence, Terna works to develop non-core business initiatives, that is those not regulated or subject to regulation by the Electricity and Gas Authority (AEEG), but not activities under the concession.

In 2012 these activities concerned:

Electricity transmission

Terna's main business is the transmission of electricity in Italy.

The Italian electricity system consists of four components: the production, transmission, distribution, and sale of electricity.

In this process, Terna is engaged in managing the electricity system by operating the high voltage grid, maintaining infrastructures, and developing the grid (planning and construction).

The Terna Group

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The Terna Group's shareholding structure at December 31, 2012 is as follows:

The Terna Group's shareholding structure

(*) Companies measured using equity method

 

At December 31, 2012 the Terna Group includes:

Profile

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Terna is the largest independent transmission system operator (TSO) in Europe and the sixth largest in the world in terms of kilometres of lines managed.

The Company’s headquarters is in Rome and it is the owner of the Italian National Transmission Grid (NTG), with more than 57,400 kilometres of high-voltage lines (more than 63,400 km of three-phase conductors), 468 transformation stations, and 22 lines interconnecting with foreign grids (data at December 31, 2012).

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