Free Market Performance and Investment Plans

Cash flow (Єbn)¹ (0.7) €bn Liability management 19.2 ( 2.0 ) (0.8) (1.8) (2.8) 11.8 enel (13.1) (1.3) Ordinary EBITDA A Provisions³ AWorking capital Income taxes Financial expenses* FFO Capex FCF 4 & other PY 18.02 (2.1) (0.5) (1.6) (2.0) 11.5 (10.2) 1.3 Delta YoY +7% +4% -60% -17% -39% +3% 1. Rounded figures 2. 3. 4. EBITDA FY2020 restated. Calculation includes 0.4 €bn provision reversal in Spain reported separately in Q1 2020 Accruals, releases, utilizations of provisions in EBITDA (i.e. personnel related and risks and charges), accruals of bad debt Includes dividends received from equity investments 93

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