Investor Presentaiton

Long term Short term Action plan for supply Trends ■ Increased sophistication of customer base: ■ New entrants: ESCOS (1) Regulatory push for energy efficiency and distributed generation Technology improvement and digitalization (1) Energy Services Companies. Eendesa GEDEON energyolting Energía solar Una fuente inagetable de ahoru N 3 Action plan Liberalised business: Supply EM endesa 1 Reinforce leading position in electricity and grow in gas 2 Continuous focus on cost efficiencies Further development of new products and services Create value from future 4 growth opportunities Significant opportunities in supply business 58

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