Investor Presentaiton

A very attractive dividend policy with a minimum annual DPS growth target of 5% EM endesa Amount New dividend policy ■ 2014 ordinary dividend of 0.76€/share (1) ■ Minimum annual DPS growth target of 5% Timing ■ Bi-annual dividend payment Interim dividend payable in January and final dividend payable in July Consideration ■ 100% cash pay dividend (1) 72 Dividend policy approved for the industrial plan period and dividend distribution subject to corporate approvals.

View entire presentation