SHARE BUYBACK PROGRAM

On  29  April 2020,  the  Shareholders'  Meeting  authorized  the  Board  of  Directors  to  purchase  and  dispose  of  treasury shares for eighteen months from that date, at the same time revoking, for the unexecuted portion,  the previous authorization to purchase deliberated on 5 April 2019. The Board of Directors may purchase and dispose of a maximum of 65,000,000 shares, equal to 5% of the share capital, in accordance with the applicable regulations.  On 12 May 2020, the Board of Directors, authorizing the CEO to carry out the purchase program, set the limit at  26,000,000 shares, taking into account the shares already in the portfolio. As at 31 December 2020, Iren  S.p.A. held on the whole 15,868,004 treasury shares, equal to 1.22% of the share capital.