Investor Presentaiton

Cash flow (€bn) 4.7 (0.4) (0.4) (1.5) 0.0 enel (0.4) 2.1 (1.9) 0.2 Ordinary A Provisions Provision EBITDA reversal in Spain AWorking capital & other Income taxes Financial expenses 2 FFO³ Capex FCF PY 4.5 (0.3) (1.1) (0.2) (0.4) 2.5 (1.9) 0.6 Delta YoY +6% -65% -32% n.a. -6% -17% -69% 1. 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 2. 3. Funds from operations 114

View entire presentation