Key events in the 2015

Edison Grows in the UK with the Acquisition of the Scott & Telford Fields in the North Sea
On January 13, 2015, Edison executed a Put & Call option to acquire from Apache Beryl I (a subsidiary of Apache Corporation) its interests in the Scott and Telford oil fields (10.5% and 15.7%, respectively) located in the P185 15/22 concession in the North Sea (UK). This acquisition, which closed on April 30, 2015 for a total consideration of 38 million euros, net of September 2015 price adjustment, increased Edison’s reserves by 8.7 million barrels of oil equivalent (85% oil and 15% gas).

Edison Inaugurates Its New Research and Development Center
On June 16, 2015, Edison inaugurated a new Hydrocarbon Laboratory at its Research, Innovation and Development Center in Trofarello (Turin), an Italian center of excellence for the development of innovative solutions in the areas of energy efficiency and environmental safety for the growth of the Group’s businesses. The Hydrocarbon Laboratory is comprised of the Geochemistry, Geomechanics and Petrophysics sections, all equipped with cutting-edge tools for the development of special sponges capable of cleaning the sea and increasingly effective algorithms to study gas and oil bearing rock formations and for acquisition of 3D images. With the Hydrocarbon Laboratory, Edison broadened and rounded out its spectrum of research activities in the various energy sectors: from oil and gas prospecting and exploration to self-production of electric power, from storage systems to the monitoring of electric power and gas consumption.

Edison and EGPC, Egypt’s National Oil Company, Finalize an Agreement to Revise the Price of Natural Gas
On July 24, 2015, Edison and Egypt’s national oil company EGPC (Egyptian General Petroleum Corporation) officially finalized an agreement to revise the price for the supply of natural gas based on a new indexing formula, the positive effects of which were already reflected in the results for 2015.

Edison Refocuses on Developing Hydroelectric Production with the Pizzighettone and Maleo Power Plants
In July 2015, Edison acquired from the AGS Group (Alto Garda Servizi) 100% of the share capital of Shen Spa, a company that operates a run-of-the-river hydroelectric power plant in Maleo (Lodi) on the Adda River. The Maleo power plant, which was commissioned in 2003 and has an installed capacity of 3 MW, produces about 15 GWh a year and, having been built entirely below ground, it is fully integrated into the surrounding landscape. Subsequently, the merger by absorption of Shen Spa into Edison Spa was approved in December. In addition, in June 2015, Edison began construction of a 4.5 MW new power plant in Pizzighettone (Cremona) that is expected to go on stream in 2016, producing 17.5 GWh of electric power. This facility is also being built below ground and will thus be fully integrated into the surrounding landscape. These two power plants will strengthen the Company’s operations in the historically strategic hydroelectric sector and round out Edison’s current portfolio of production facilities.

Edison Brings to a Successful Conclusion the Arbitration with ENI to Revise the Price of the Long-term Contract for Gas from Libya
On November 27, 2015, the International Court of Arbitration notified its award in the arbitration between Edison and ENI for a revision of the price charged under a long-term contract for the supply of natural gas from Libya, granting the price revision request put forth by Edison in 2012, for a retroactive value of about 1 billion euros. The total impact of the arbitration award on Edison’s 2015 EBITDA, for some contractual options tied to the take-or-pay clause exercised during the year, amounted to about 850 million euros. The Court reserved the right to hand down a decision regarding interest, legal expenses and the exact amount owed by ENI based on the new contract price.

Edison Strengthens Its Position in Hydroelectric Generation with the Acquisition of 90 MW in the Friuli Venezia Giulia Region (Cellina)
On December 29, 2015, Edison and Società Elettrica Altoatesina (SEL) signed an agreement to swap Edison’s equity interests in Hydros and Sel Edison in the Bolzano province for the hydroelectric facilities owned by SEL in Cellina, Pordenone province. The Cellina hydroelectric hub, the concessions for which will expire in 2029, includes 23 generating facilities, counting both large and mini-hydro plants, for a total installed capacity of 90 MW. Under this transaction, valued at a total of about 190 million euros, Edison will acquire from SEL the Cellina hydroelectric hub in exchange for equity investments consisting of a 40% interest in Hydros and a 42% interest in SelEdison. Thanks to this agreement, Edison, which was expected to deconsolidate also Hydros’equity investments in 2016, will instead consolidate the company that owns the Cellina hub, with a positive impact on EBITDA of about 30 million euros a year. This transaction is expected to close in the first quarter of 2016.

Significant Events Occurring After December 31, 2015
Information about events occurring after the end of the reporting year subject of this Report is provided in the section of the Consolidated Financial Statements entitled “Significant Events Occurring After December 31, 2015.