Investor Presentaiton

Our vision in numbers decarbonisation Conventional generation focuses on flexibility and efficiencies enel Gross capex 2019-21 vs 2020-22 (€bn) -24% 2.5 0.6 1.9 0.7 1.9 1.2 2019-21 2020-22 100% earmarked 2019-22 EBITDA evolution (€bn) +6% for development beyond 2022 FY 2019 0.2 1.6 (0.1) (0.4) 0.3 0.1 1.7 1.6 I Asset development Asset management 1. 2022 in real terms 2019E FX Coal margins Nuke Efficiencies Regulated margins 2022 revenues 37.4 EBITDA/MW (k€/MW) 38.4 OPEX/MW (k€/MW) 46.1 35.71 42

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