Milan, 27 July 2017 – In this press release, reference is made to that circulated on 17 July 2017 concerning the signing by Edison, Cryn Finance and a minority shareholder of a binding agreement governing the acquisition by Edison, for a contractually defined price, of a 45.039% interest¹ in Frendy Energy S.p.A. (Frendy), a company with shares listed on AIM Italia – Alternative Capital Market.

In particular, attention should be drawn to one of the conditions precedent set out in the agreement, as mentioned in the above press release: closing is contingent on the attainment by Edison, in a single context, of no less than 50.01% of the voting rights of Frendy, including through purchases of Frendy shares from third parties at the same price agreed with Cryn Finance (the Additional Purchases) and on the signing of the agreements relating to such Additional Purchases by 1 August 2017.

In this latter regard, it should also be remarked that on today's date Edison signed binding agreements with Milanesio Srl and Frendy Energy Spa for the purchase of additional Frendy Energy shares, representing a total equity interest of [5.039%] in Frendy Energy S.p.A., at the same price as established for the purchases from Cryn Finance. Accordingly, the above condition precedent has been satisfied.

All of the aforementioned binding agreements call for Edison to purchase the Frendy shares at an estimated price of 0.340 euro per Frendy share, calculated according to the estimated consolidated net debt of the Frendy group at 30 June 2017 of 1,250,000.00 euro (Estimated Net Debt). This price cannot be adjusted upwards, only downwards, ifin cui  the Frendy group's actual net debt at 30 June 2017 (Actual Net Debt) is greater (i.e., less cash and/or more debt) than its Estimated Net Debt.

It bears recalling that, after closing, scheduled to take place by October, Edison will, in accordance with the terms and conditions of the law, make a compulsory takeover bid for all Frendy shares, for a price per share equal to that paid for the purchase of the shares from Cryn Finance and the Additional Purchases.

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