Investor Presentaiton

Distribution capex for the action plan of €1.1bn over 3 years Distribution EM endesa Distribution capex plan 2014E-2016E €1.1bn Network maintenance: approximately 50% of the plan ■ The remainder will be primarily dedicated to: ✓ Smart meters deployment and related services. ✓ Special projects: mainly network mesh improvement and increase in automation of networks ✓ IT systems Additional investment options ■ Additional projects for network automation ■ Further improvement of network mesh ■ Control rooms integration 38

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