The Brenner Base Tunnel - a new link through the Alps

40 % - 50 % 39 Shareholders Company Headquarter Austria and Italy are equal shareholders in BBT SE. The sole Austrian shareholder is Österreichische Bundes- bahnen Infrastruktur AG, at 50%. The holding company TFB (Tunnel Ferroviario del Brennero Holding AG) holds 50% of the company’s shares for Italy. TFB’s main shareholder is RFI (Rete Ferroviaria Italiana) at 88.99%, further shareholders are the Autonomous Province of Bolzano at 6.38%, the Autonomous Province of Trento at 4.24% and the Province of Verona at 0.39%. After the State Treaty between Austria and Italy for the construction of the Brenner Base Tunnel was signed on April 30th, 2004, the main offices of BBT SE were located in Innsbruck. With the start of the construction phase in 2011, the main offices were transferred to Bolzano. Once the Brenner Base Tunnel starts operations in 2028, the main offices will return to Innsbruck. In addition to the offices in Bolzano and Innsbruck, there are offices located at the construction sites in the project area between Tulfes and Fortezza. Financing The Brenner Base Tunnel is co-financed by the Euro- pean Union between 40% and 50% of its costs. The EU constantly monitors construction progress and the usage of the financing granted And based on this, the Union decides whether to continue granting funds. The remaining 50% – 60% of the costs are shared equally between Austria and Italy. The total estimated costs for the Brenner Base Tunnel including risk provision and preliminary value adjust- ment (considering future inflation) up to the start of operations are 9.3 billion Euro (price basis 01/01/2017).