Terna Rete Elettrica Adr

Good afternoon, ladies and gentlemen, and welcome to Terna's first half 2026 consolidated results. At this time, all participants are in listen-only mode. Please, we advise that today's conference is being recorded. I'd like to hand the conference over to our host speaker today, Fabrizio Ragnacci, Head of Investor Relations. Please, go ahead, sir.

Thank you. Good afternoon, ladies and gentlemen, and welcome to DERNAF's first half 2026 results presentation. The call will be hosted by our CEO and General Manager, Pasqualino Monti, and our CFO, Francesco Beccali. In the presentation, we will provide some highlights of the period, and then we will walk you through the operation and financial performance. Following the presentation, we will have the Q&A session. I kindly ask you to send any questions to our email address. investors.relations.terna.it Thank you and now let me hand over to our CEO, Mr. Monti.

Thank you Fabrizio, good afternoon. We start with some opening remarks on the first half of 2026. Solid execution in the development of our grid infrastructure was the main priority. We have achieved a relevant progress on the perennial link. with the completion of a submarine cable installation on the eastern section and we are on track on the major development milestones of our industrial plant. Terna continues to play its key role in the Italian electricity system in adding renewables, integration and ensuring grid security. Over the first six months of the year we have integrated around 3.4 gigawatts of the renewable capacity and more than 1 GWh of storage. As the energy transition continues to gain momentum, trillions guaranteed to connection requests show visible growth, up by 1.2 times of renewables and by 1.4 times for storage year-to-date. Sustainability is at the core of our strategy. and our global leadership continues to be recognized by leading international institutions. Looking ahead, we are starting to work on the update of the industrial plan. As you know, by 2027, ARERA will update the current regulatory framework, which expires at the end of next year. Our internal work on the strategic plan must be aligned with the timing of the regulations. With the regulation visible and defined, we will be in a position to share with the market the new industrial plan in due course in 2027. And now let me hand over to our CFO, Francesco Beccali.