The Internal Control and Risk Management System and financial disclosure

Aware of the importance that financial reporting plays in creating value for shareholders, Edison has adopted an internal accounting control system based on the regulations contained in Law 262/2005, aimed at guaranteeing its reliability, accuracy, trustworthiness and timeliness, vis-à-vis both internal bodies and the market.

The guidelines that must be followed within the Edison Group in terms of the obligations entailed by art. 154-bis of the TUF with regard to the preparation of corporate accounting documents and the corresponding certification requirements are defined in the Model pursuant to Law No. 262/2005 (262 Model). Following the entry into force of Law 262/2005 on the protection of savings, Edison adopted the 262 Model, adapted ing its administrative and accounting procedures for the formation of financial disclosures, defining rules for governance, management, periodic verification and certification of adequacy, assigning responsibilities within its organisation. In brief, the 262 control system is based on multiple levels of control to guarantee and protect the quality of the internal control system of Financial Reporting. 262 Model is systematically updated and adapted to changes in the scope of the Group’s companies, businesses and organisational structure.

The Group has also adopted and implemented a Tax Control Framework (TCF), a tool integrated in the broader Internal Control and Risk Management System, which allows it to detect, manage and monitor tax risk in synergy and integration with 262 Model.

Edison’s Tax Policy spells out the fundamental principles and guidelines of its tax strategy and constitutes a tool for its dissemination, with the aim of guaranteeing the correct and timely fulfilment of tax obligations and, more generally, compliance with tax regulations, ensuring the correct and efficient management of the Group's taxation.

During the year 2023, Edison began the process of applying for the Collaborative Compliance regime pursuant to Legislative Decree No. 128/2015. The scheme allows, on the one hand, for the recognition of adequate tax risk management in the company and, on the other hand, for prior collaboration between the tax authorities and the taxpayer with the aim of creating mutual relations based on transparency, cooperation and accountability.
The TCF and the elements that support it received a positive evaluation from the Revenue Agency during the investigation that led Edison in December 2023 to be admitted to the Collaborative Compliance regime pursuant to Legislative Decree No. 128/2015. The annexation is a constitutive element for establishing an enhanced relationship based on mutual communication, collaboration, and transparency between the taxpayer and the Tax Administration.

As an issuer listed on a regulated market, Edison is required to appoint a manager in charge of preparing the company's accounting documents (Corporate Accounting Documents OfficerDirigente Preposto), who is responsible for the internal control system for financial reporting.

The Corporate Accounting Documents Officer manager in charge defines the administrative and accounting procedures aimed at guaranteeing adequate controls in the preparation of periodic accounting documents and any other financial disclosures, and, together with the Managing Director, certifies their effective application by means of a specific report attached to the annual financial statements, the half-yearly financial statements and the consolidated financial statements.

As of 26 October 2012, the Board of Directors decided to entrust this office jointly to the Accounting, & Tax & Finance Operations Director (a role held since that date by Roberto Buccelli, in office since 4 June 2012), and to the Chief Financial Officer (Ronan Lory, who has held this position since April 1, 2022in office since 1 March 2022).