Investor Presentaiton

CONSISTENT INVESTMENT DRIVES GROWTH CAPEX DISCIPLINE LEAVES ROOM FOR HIGH DIVESTMENT INCOME 2024-27 NET CAPEX € 27 BLN 37 35 GROSS CAPEX SCENARIO UPS PLENITUDE OTHERS & ENILIVE GROSS PORTFOLIO CAPEX SP 23-26 SP 24-27 21 27 NET CAPEX SP 2024-27 2024-27 CAPEX SPLITTING OTHER OIL 21% 10% 30% LOW AND ZERO CARBON GAS&LNG & NET ZERO FIELDS 39% OPTIMISING TO LOWER CAPEX BUDGET E&P OPTIMISES AROUND PROJECT QUALITY PARTIALLY OFFSET BY PLENITUDE GROWTH INVESTMENTS PORTFOLIO OPPORTUNITIES DUAL EXPLORATION MODEL RATIONALISING TAIL ALIGNED CAPITAL INTRODUCED INTO SATELLITES DECARBONISING NATURAL RESOURCES SHIFTING TO GAS PRODUCTION BUILDING CCS INVESTING IN ENERGY EVOLUTION TRANSITION GROWTH ENILIVE AND PLENITUDE VERSALIS TRANSFORMATION NET CAPEX >20% LOWER THAN PREVIOUS PLAN CAPEX FLEXIBILITY 50% CAPEX UNCOMMITTED AVG 2025-2027 SIGNIFICANT STEP UP IN PORTFOLIO CASH INCOME

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