Sustainable Value Creation and Industrial Growth

Our plan New investment cycle drives growth while debt remains stable Average capex (€bn) +12% Net Debt (€bn) 8.2 9.2 2018-20 Old Plan 2019-21 EBITDA (€bn) 16.2 +20% 19.4 41.1 41.8 2018 Net income (bn) 4.1 +37% 2021 5.6 enel 2018 2021 2018 2021 28

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