Enel Capex and Financial Guidance

Fast and effective onboarding, focus on execution 1 Capital allocation tailored to maximize risk-adjusted returns and secure long-term value and growth Capital Allocation defined through a structured assessment of investments profitability and risk profile Flexible and differentiated approach to maximize capacity/production plan leveraging on value creation differential spread 2 Improving efficiencies across all activities to improve profitability Extended returns-based spending review and monitoring 100% of the Cash Cost (new process already launched in June) Immediate focus on cash costs to bring efficiencies forward CASH COST1 JUNE -8% 3 enel Group's streamlining to focus on core activities and geographies Increased focus on reducing non-core geographies exposure to support the Disposal Program and improve Capital Returns (Australia and Greece) New and leaner organization to improve accountability and enable efficiencies: C-levels reduced by around 25% 1. In real terms Budget Actual 85

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