Investor Presentaiton

Liberalised business: Generation Generation capex for the action plan of €1bn over 3 years EM endesa Generation capex 2014E-2016E €1.0bn ■ Around 80% is equally split between to nuclear (stress test completed by 2016) and maintenance for the rest of technologies ■ The remainder investment is allocated to selective environmental investments in imported coal plants. Additional investment options ■ Environmental investments in domestic coal plants. ■ Develop pumping portfolio (3.6GW) with different development phases. 57

View entire presentation