Iren : starts a new tranche of share buy-back

PRESS RELEASE

Iren starts a new tranche of share buy-back

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Reggio Emilia, 20 November 2020 - Iren S.p.A. announces the start of a third tranche of the treasury share purchase program in the terms set out in the resolution of the ordinary Shareholders' Meeting of 29 April 2020 and in the following resolution of the Board of Directors which assigned to the CEO the necessary powers.

Iren has conferred a mandate to Goldman Sachs International as an intermediary, so that Goldman Sachs International will purchase the shares of the Company, with full discretion and independence, in compliance with the contractually predefined parameters and criteria, as well as with the constraints of the applicable legislation and the shareholders' and board resolutions from time to time in force.

This mandate provides for the purchase of Iren ordinary shares for a maximum amount of 10,500,000 shares, starting from November 23, 2020, and until the deadline of October 29, 2021, except for any changes to the authorization by the Ordinary Shareholders' Meeting that occurred during the aforementioned period.

Any purchases will be made in the MTA market and in other multilateral trading systems on which the Company's ordinary shares are traded in compliance with art. 144-bis, paragraph 1, lett. b) of Consob Regulation 11971/1999 and other applicable provisions, so as to ensure compliance with the equal treatment of shareholders pursuant to art. 132 of the legislative decree of 24 February 1998 n. 58, as well as according to the operating procedures established in the organization and management regulations of Borsa Italiana S.p.A. and their respective systems.

As of today, Iren S.p.A. directly holds 15,474,735 treasury shares equal to 1.1895% of share capital.

Pursuant to the provisions in force, the Company will communicate to the market the details of any purchase transactions carried out.

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