2021-2023 Sustainability Plan and Financial Performance

Power production volumes and margins locked in thanks to long customer position in Europe... Integrated margin - Generation GM vs retail GM enel Hedging position on price driven production Coal & Gas 4% Renewables Hedging of margins based on scenario/market Pool price indexed Delta Integrated margin hedged STABLE Large customers vs 20191 STABLE + Nuke Natural hedging with 96% retail portfolio Residential, Small & Medium customers 97% 83% Generation Gross margin 1. Calculated on same 2019 mix Retail 2021 2022 portfolio 83

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