The Board of Directors of the Company TERNA ENERGY S.A. decided, at the meeting of May 2, 2012, to include in the Items of the Agenda of the Ordinary Shareholder's Meeting scheduled for 24/5/2012 the following item, too: Increase of the share capital of the Company by capitalization of reserves by means of concurrent increase of the nominal value of the share and concurrent decrease of the share capital by returning cash to the Shareholders by means of decrease of the nominal value of each share. Amendment of par. 1 article 5 of the Articles of Association.

It is noted that the above Item of the Agenda is subject to the subsequent approval by the competent Supervisory Authorities and the payment of the return of capital, according to the provisions of art. 4 of Codified Law 2190/1920 cannot begin before the lapse of at least 2 months from such approval. Therefore, the following events are added to the Corporate Events Calendar for the year 2012:

The ex-date of the return of Capital: Friday, July 27, 2012, date following the date of expiry of the Index Futures, in which the shares of our Company participate.

Beneficiary Shareholders for the return of Capital: The Shareholders of the Company recorded as such in the records of the Dematerialized Security System (DSS) of Tuesday, July 31, 2012 (record date).

Commencement of Payment of Return of Capital: Monday, August 6, 2012.

The return of capital shall be implemented through Banks, which will credit the accounts of the Operators. Details will be provided by further announcement of the company.

The Company reserves the right to change the above dates, by notifying the Investors at the same time.

The above dates shall become final after the issuing of the decisions by the Supervisory Authorities.