Edison: The shareholders' meeting approves the 2016 annual financial statements and elects the board of statutory auditors

Milan, March 30, 2017 – Edison’s Shareholders’ Meeting, convened today at the Company’s Foro Buonaparte headquarters, approved the financial statements of Edison Spa for the year 2016, which closed with a net loss of € 250 million compared to net loss of € 776 million for the previous year, which was significantly penalized by the huge impairment losses recognized following annual impairment testing. Accordingly, the Shareholders’ Meeting approved to bring forward the loss, as the company has no available reserves.

The Shareholders’ Meeting elected the Board of Statutory Auditors, which will be in force for the next 3 years until the Shareholders' Meeting to approve the financial statements for the year ending December 31, 2019. The Board of Statutory Auditors comprises the Effective Statutory Auditors Serenella Rossi (nominated Chairman of the Board of Statutory Auditors), Lorenzo Pozza and Gabriele Villa; and the Deputy Statutory Alternates Silvano Corbella, Elisabetta Bertacchini and Luigi Migliavacca. Their curricula are available on the Company website: www.edison.it.

The applications were submitted by the majority shareholder Transalpina di Energia (99,484%) and voted by the majority of the same assembly. All members of the Board of Auditors declared to possess the independence requirements as requested by Art. 148 of the TUF and by the Sel-Discipline Code.

The Shareholders' Meeting set the total annual gross remuneration of 75,000 euros for the Chairman of the Board of Auditors and 50,000 euros for each Statutory Auditor.

The Assembly voted in favor of the First Section of the Remuneration Report.