Milano, June 24th, 2025 – Eni – company active in the oil, natural gas, chemical and biochemical sectors, as well as in the generation and sale of electricity from fossil fuels, cogeneration and renewable sources – announces the signing of an agreement for Ares Management (“Ares”) to acquire a stake in Plenitude, benefit company and a leading player in the energy transition, fully owned by Eni

Under the terms of the agreement, Ares’ alternative credit funds will acquire a 20% stake in Plenitude, for a total consideration of €2 billion and a 100% equity value of €10 billion (enterprise value of €12 billion)

The transaction further strengthens Plenitude’s market value and highlights the soundess of its business model, which combines renewable energy generation, energy sales and services for households and businesses, as well as charging solutions for electric mobility.

EQUITA assisted Eni as financial advisor, providing a fairness opinion on the terms of the transaction. The deal further strengthens EQUITA’s positioning as leading independent investment bank in Italy, alongside listed companies in their and corporate finance transactions.

Eni is an integrated energy company with more than 30,000 employees in 69 countries around the world. In 2020, the company launched a new strategy, further accelerated in the following years, that will enable it to reach the 2050 net zero-emissions target and deliver a variety of products, fully decarbonized, combining environmental and financial sustainability, relying heavily on technological leadership built over years of research and innovation.

Plenitude is a Benefit Corporation wholly owned by Eni, integrating renewable energy production, energy sales and services, and a widespread network of electric vehicle charging points. With the goal of supporting the energy transition and contributing to decarbonization, Plenitude operates in over 15 countries and serves more than 10 million customers across Europe. Its offering combines environmental sustainability, innovation, and tailored solutions for households, businesses, and communities.