Enel's Energy Infrastructure Growth and Resilience

Grids: Capex, EBITDA evolution and value creation Capex by nature enel EBITDA evolution over 2022E-2025 (€bn) Connections Quality & Resiliency FY 2022 Pro forma¹ 42% 2023-25 47% ~15 €bn 11% +4% 0.1 0.1 0.2 7.0 (0.1) 7.3 7.0 Digitalisation IRR-WACC SPREAD ~150 bps 1. Net of perimeter for 0.8 €bn and stewardship for 0.5 €bn EBITDA 2022E pro forma¹ RAB WACC & Efficiency Regulation FX 2025 35

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