Sustainable Value Creation and Industrial Growth

Financial management Stable debt throughout the plan Net debt evolution (€bn) -% 41.1 ~41.8 ~42.2 ~41.8 Source of funds allocation 2019-21 (€bn) 41.1 0.3 (27.5) enel (13.9) 2018 2019 2020 2021 Sources of funds Incremental Debt Gross capex Dividends 44

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