#1Enel Russia 1Q 2022 results April 28, 2022 enel#21Q 2022: Key highlights Favorable demand and prices Solid operating and financial results Further progress in renewable projects enel Modernization projects payback started Electricity demand up by 2% amid market prices up by 7% YoY* Revenues growing almost 20% YoY, EBITDA up by > 30% YoY on strong operating environment Kola windfarm construction project going ahead notwithstanding current situation TG-4 modernization project at NGRES: capacity payments under KOMMod scheme started * In the 1st price zone 2#3Financial highlights (RUB mn) Revenue EBITDA Net Income Net Debt enel Net Debt/ EBITDA* 14,650 3,255 1,908 24,786 2.9x +19% +33% +22% -5% 1Q 2021 12,289 2,451 1,570 25,957** 3.3x** Herein after-audited financial results under IFRS Last 12 months ** As of December 31, 2021 3#4Higher power demand trend contributed to solid operational performance Net power production by technology (TWh) +11% Power sales (TWh) +10% Equipment availability 6.1 0.1 6.8 5.5 6.2 1.2 1.6 1.1 1.7 4.4 3.8 1Q 2021 1Q 2022 ■ Oil&Gas ■ CCGT Wind 94% 92% Utilization on net electric capacity 5.6 5.1 1Q 2021 Free market 48% 1Q 2022 enel ■Regulated market 51%#5Positive margins dynamics thanks to electricity prices growth Average unitary selling price (RUB/MWh)1 +7% enel Average unitary cost of sales (RUB/MWh)² +5% 1,362 1,459 1Q 2021 1Q 2022 Average unitary electricity margin (RUB/MWh) +21% 177 146 1Q 2021 1Q 2022 1 Including regulated power sales, day ahead market and balancing market sales 2 Including fuel cost and energy purchases 1,216 1,282 1Q 2021 1Q 2022 5#6Rising revenues impacted by favorable market conditions overperform higher fuel costs... Operating revenues (RUB bn) Variable costs (RUB bn) +19% 14.7 +14% 1.3 12.3 9.7 8.5 1.3 3.3 1.0 0.9 2.5 enel Fixed costs (RUB bn) +22% 1.7 1.4 0.1 8.7 10.0 7.6 0.8 8.4 0.7 0.5 0.6 0.2 0.3 1Q 2021 1Q 2022 1Q 2021 1Q 2022 1Q 2021 1Q 2022 ■ Overhead ■ Electricity ■ Capacity ■ Heat and other ■ Fuel ■ Purchased power ■ O&M not manageable ■ Personnel ■ O&M manageable 6#7... which is translated in EBITDA increase mostly driven by higher energy margin 2,451 1,155 EBITDA evolution (RUB bn) +33% (307) (44) 3,255 1Q 2021 Energy margin Fixed costs Other items 1Q 2022 enel 7#8Net income mostly follows EBITDA trend despite increased depreciation enel 1Q 2022 1Q 2021 ΔΥΟΥ EBITDA (all - RUB mn) 3,255 2,451 +33% D&A and bad debt provisions (865) (454) + 2 times EBIT 2,390 1,997 +20% Net financial expenses 26 (7) Income tax (charge) / benefit (507) (419) +20% Net income 1,908 1,570 +22% 8#9Net Debt starting to fall as wind project construction enel entering the final stage Net debt evolution (RUB mn) 25,957 (2,353) (282) -Rub 1.2 Bn 413 1,051 24,786 31Dec21 Cash flow from Income tax & other Capex Net financial charges 31Mar22 operations* * Post working capital changes#10Debt profile and liquidity position Gross debt profile Gross debt by maturity enel As of December 31, 2021 6% 11% 36 bn RUB ■ Project financing As of March 31, 2022 5% 11% 37 bn RUB 83% 84% ■Corporate loans ■Commercial papers Expert RA *As of March 31, 2021 Long term credit ratings* 82% 81% 18% 19% 31 Dec 21 31 Mar 22 ■LT Portion ■ ST Portion Debt facilities details Rating Outlook 1Q2021 1Q2022 ruAA- Stable Average cost of debt (%) 7.1% 8.3% 10 10#11Contact us enel Ilya Kalinin Investor Relations Email [email protected] Phone +7 495 539 31 31 ext. 7843 Alexander Adamov Investor Relations Email [email protected] Phone +7 495 539 31 31 ext. 7540 Channels e Website Enelrussia.ru Follow us enel e Mobile App Enel Investors 11