#1Enel Russia 9M 2020 results September 30, 2020 enel#2Key highlights of the period Complex operating environment Resilient operating performance enel Renewable projects progress Shareholder remuneration In Q3 electricity demand felt by 4% YoY while prices grew by 1% YoY* Financial results remain under pressure Execution of projects ongoing despite the COVID context *In the 1st price zone RUB 3 Bn fixed dividends distributed to shareholders 2#3Azov Wind Farm: approaching final stage of construction despite COVID-19 challenges Challenges caused by pandemics COVID-19 cases on the construction site impact on the entire manufacturing chain travel restrictions to enter Russian territory from abroad temporary interruptions of works issues with supply and delivery of several main components issues with arrival of foreign specialist and supervisors enel Project's current status HV T-line, done 50 km out of 50 km (290 towers) MV collector system, done ~ 15 km out of 15 km Internal Roads, done ~ 16 km out of 16 km 2 WTGs foundations, done 26 units out of 26 Delivery of main wind turbine components completed Wind turbine installation works are at final stage 20 out of 26 WTGs placed HV Substation fine-tuning tests under finalization 3 https://youtu.be/HK-gg6 10-s#49M 2020 Financial results enel#5Financial highlights (RUB mn) Revenue EBITDA Net ordinary Income Net Debt ene Net Debt / EBITDA² 32,002 7,306 3,160 10,777 1.1x -39.3% -43.9% -47.1% +158.4% 9M 2019 52,741 13,019 5,971 4,1711 1.1x 1. As of December 2019 2. Last 12 months 5#6Effects of change in company's perimeter coupled with weak electricity demand Net power production by technology (TWh) enel Equipment availability 27.2 -52% 31.2 Power sales (TWh) -51% 6.4 13.3 13.1 15.3 4.2 3.7 3.1 24.8 9.6 12.2 9.5 9M 2019 9M 2020 9M 2019 9M 2020 ■ Oil&Gas CCGT ■ Coal Free market ■Regulated market 83% 84% Utilization on net electric capacity 47% 38%#7Change in technology mix and stagnating electricity enel prices continue putting pressure on margins Average unitary selling price (RUB/MWh)1 +9% -3% without RGRES in 9M 2019 Average unitary cost of sales (RUB/MWh)² +24% +4% without RGRES in 9M 2019 1 149 1 251 1 183 955 9M 2019 9M 2020 9M 2019 9M 2020 Average unitary margin (RUB/MWh) -65% -56% without 194 RGRES in 9M 2019 67 9M 2019 9M 2020 1. Including regulated power sales, day ahead market and balancing market sales 2. Including fuel cost and energy purchases 7#8Lower revenues following RGRES sale partially compensated by cost economies... Operating revenues (RUB bn) -39% 52.7 2.7 Variable costs (RUB bn) -38% 31.7 enel Purchased power 19.6 Fuel 25 27.5 17.2 9M 2020 Fixed costs (RUB bn) -33% ■ Heat and other 9M 2019 14.3 32.0 ■ Capacity 2.3 10.5 ■ Electricity 35.8 19.1 9M 2019 9M 2020 8.1 ■ Overhead 0.8 5.4 ■ Personnel 2.9 0.6 2.0 ■ O&M not 2.2 manageable 1.7 2.2 ■ O&M manageable 8 1.2 9M 2019 9M 2020#9...which expectedly impacts the EBITDA dynamics enel 13,019 (8,595) EBITDA evolution (RUB bn) -44% 2,706 176 7,306 9M 2019 Gross margin Fixed costs Other items 9M 2020#10Net income affected by FX revaluation 9M 2020 9M 2019 ΔΥΟΥ EBITDA (all - RUB mn) D&A and impairment* Reported EBIT Ordinary EBIT 7,306 13,019 -44% (2,358) (11,499) -5 times 4,949 1,520 4,949 8,971 -45% Net FX and financial charges (971) (1,553) -38% Income tax (charge) / benefit (818) 7 Reported net income/(loss) (RUB mn) 3,160 (27) Net ordinary income 3,160 5,971 -47% *including impairment of property, plant and equipment related to Reftinskaya reclassification enel 10 10#11* ** Continuing investment program together with dividend payment lead to increase of Net debt Net debt evolution (RUB mn) enel +158% 10,044 (81) (4,000) 10,777 3,007 4,171 (3,586) 1,223 31Dec19 Cash flow from Income tax Dividends Capex operations* Net financial charges** Proceeds from PPE disposal 30Sept20 Post working capital changes Including capitalized interest 11#12Debt profile and liquidity position As of 30 Sep 19 18% Gross debt profile As of 30 Sep20 7% 22% 27bn RUB 23bn RUB 57% 25% 71% ■ Corporate loans (RUB) ▪ Project financing (RUB) ▪ Commercial papers (RUB) Average cost of debt 9M 2019 9M 2020 Total credit facilities: utilized & available (RUB bn) RUB 8,5% 8,5% Gross debt by maturity enel 89% 92% 11% 31 Dec19 8% 30 Sep20 132.2 132.2 % utilized 12% 18% ■LT Portion ■ ST Portion 12#13Contact us enel Ilya Kalinin Investor Relations Email [email protected] Phone +7 495 539 31 31 ext. 7843 Channels e Website Enelrussia.ru Follow us fo enel e Mobile App Enel Investors 13