Free Market Performance and Investment Plans

Current regulatory framework in Europe¹ Italy enel Iberia Romania WACC real pre tax 2022 5.2% 5.6% 6.4% 3 Next Regulatory Period 20242 2026 2024 Regulatory Period 4+4 6 5 Length (years) Metering Ownership Owned by DSO Owned by DSO Owned by DSO Smart meter Yes No Yes inclusion in RAB 123 1. As of December 2021. 2. WACC review by 2022. 3. +1% new capex. 114

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