Terna assigns contracts for works, supplies and services on the basis of tender procedures which guarantee participating companies utmost transparency, objectivity and fair treatment. These procedures comply with applicable regulations in force, with Terna's Code of EthicsIt is often called a“business charter”, as it represents the foundation of the company’s culture and explicitly sets forth the rights and duties and areas of responsibility that the business undertakes to respect in dealing with its stakeholders. It is an official document, signed by the BoD, which requiresthe compliance of all personnel. and with its 231 Model.

Terna's objective is to constantly improve its procurement policy using measures to reduce procurement prices while still guaranteeing high quality levels. This is achieved through continuous supplier assessment using a vendor ratingLetter symbol which expresses the level of risk of securities representing a specific debt. This is one of themost significant tools for forecasting and controlling the risk of insolvency in modern securities markets.Ratings are published by specialized rating agencies. The most well-known, on the global level, are Moody’s and Standard e Poor’s. Ratings are announced at the moment of issuing the security, but may be subsequently modified (uprating or downrating), which will positively or negatively influence the image of the company and a significant part of trading. The highest rating is indicated starting from the symbol "AAA", "AA+", to arrive at the worst rating, indicated by “D”. system and by seeking technical and functional solutions allowing performance levels to be maintained at lower costs. Furthermore, a "just-in-time" type of procurement policy has been implemented to reduce the storage of materials to buffer stock only.

The specific "Procurement Portal" section of the Company website represents the point of contact between Terna and suppliers. The portal can be accessed to consult calls for tender and the technical and economic characteristics of merchandise groups subject to qualification procedures, to participate in online auctions and tenders, that are structured and managed through controlled procedures, ensuring transparency while still guaranteeing the necessary confidentiality, and to go through the qualification procedure for companies.

To perform its core business, Terna needs to procure supplies, works and services in the electricity transmissionElectricity transport and transformation activities along the interconnected high- and very high-voltage grid forthe purposes of delivery to customers, distributors, and recipients of self-produced energy., telecommunications and information technology. If suppliers operating in these merchandise groups wish to participate in tenders they must register in the qualification system and obtain, through the appropriate procedure guided by Terna's Procurement Portal, the approval for being included in Terna's Register of Qualified Companies.

The supplier qualification procedure allows Terna to assess whether the companies intending to take part in its tenders have suitable economic and technical/organizational solidity and meet the ethical-environmental requirements that are specific to Terna's policy. The requirements include, for example, legal and wage conditions that are not below those envisaged in collective labor agreements for the same type of activity. Certification mainly involves suppliers from which Terna procures fundamental equipment to carry out electricity transmission or to which important phases of its specific activity are contracted, such as yards to build lines or stations.

With regard to supplies that only involve the delivery of raw materials necessary for Terna's core business, 60% come from ten large enterprises with plants in Italy and in Europe, all equipped with ISO 9001 certified management systems and 38% of them having the ISO 14001 environmental certification.

The intention of strengthening controls on the supply chain has lead to a new unit that is entirely dedicated to qualifying enterprises, within the Procurement Department, whose task is to manage qualification requirements, conduct qualifying procedures for receiving certification, analyzing suppliers and constantly monitoringAll the actions through which the current operational status of an electricity system is ascertained. the enterprises that have been already deemed qualified to work with Terna.

Terna also keeps a black list of commercial partners who having failed to respect one or more contract clauses with breaches such as corruption, not respecting the environment, the safety of workers and human rights were removed from the register of companies qualified to work with Terna and reported to the Control and Inspection Authorities of the Ministry (ODV). During 2007, there were 2 cases of partners being removed from the register of suppliers.

Contracts always include specific clauses aimed at underlining the respect and application of Terna's Code of Ethics and of Terna's Organizational and Management Model in compliance with Legislative Decree no. 231/2001 as well as the existing safety and environmental rules, in addition to guaranteeing that no child labor is used, nor irregular workforce, worker exploitation and discrimination against employees.

Since 2008, suppliers have also been requested to sign a specific "integrity pact" that mutually binds them with Terna to avoid conflicts of interest and limiting competition.

The Procurement Department regularly draws up a report on the procurement process, which illustrates trends in procurement and monitors compliance with initial planningDefinition of the usage plans, for a specific period of time, for the available means of production andtransmission, in order to satisfy the energy requirements with respect to quality and continuity of service.. Furthermore, it also specifies the progress of qualifications under validation and those under assessment and provides the principal process performance indicators.

PROCUREMENT FIGURES (ITALY)

2007

2006

2005

Qualified segments (as of Dec. 31)

35

35

36

Compliant companies in Suppliers Register (as of Dec. 31)

265

238

229

Qualified companies (during the year)

74

65

60

Suppliers under contract (as of Dec. 31)

1,828

1,696

1,582

 

AWARD PROCEDURES ADOPTED (% ON AMOUNTS AWARDED)

2007

2006

2005

European tenders

65.0%

85.7%

63.6%

Non European tenders

18.6%

8.6%

26.8%

Ordinances

16.4%

5.7%

9.7%

Brazil

In 2007, important activity also began and is currently under way being carried out by the Italian colleagues so that procurement procedures of foreign subsidiaries compy with Terna SpA's quality standards.

For three months, various Italian managers from the audit and procurement departments lead intensive auditing and verification of procurement and vendor rating processes at TernaParticipações, that marked the beginning of the integration of advanced procurement systems of the Italian holding also in Brazil.

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