Sustainability Linked Bond Investor Presentation

1. enel A sustainable business model that has delivered growth and improved visibility EBITDA dynamics (€bn) CAPEX and financial KPIs evolution I Traditional model Sustainable model CAGR 2012-15: -1.7% CAGR 2015-19: +4.5% 17.9 15.8 15.5 15.0 +27% ~10 €bn ✓ ~8 €bn 23% Other 35% 77% 65% Asset development & customer I 20121 2014 2015 2019 2015 2019 | I 2.5x Target achieved Net debt1/ EBITDA 2.5x 19.1% Net income/ 26.7% EBITDA 6 FY 2012 restated in 2013 according to IAS 19

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