Plenitude: A Journey of Growth
NEPTUNE ACQUISITION
STRATEGICALLY ALIGNED, VALUE ENHANCING
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EXCEPTIONAL COMPETITIVE ASSETS
low risk fit and high-quality
FURTHER ENHANCING GGP
EQUITY SUPPLY & MATERIALITY
with ~4 bcm/y gas into Europe
REINFORCING VÅR ENERGI
as a leading E&P player in Norway
A COMPELLING TRANSACTION
EFFECTIVE DATE 1 JANUARY 2023,
ANNOUNCEMENT 23 JUNE 2023,
CLOSING EXPECTED IN 1Q241
100% CASH TRANSACTION
$2.6 BLN INVESTMENT BY ENI
GAS WEIGHTED 2P RESERVES
>100 KBOED PRODUCTION NET TO ENI
Neptune country presence
ACCRETIVE OPERATION
to earnings, cash flow &
decarbonization targets
CONSISTENT & ALIGNED
to 4YP guidance and targets
1 Closing of the Eni transaction is subject to a number of customary closing conditions, including (i) the carve out of Neptune's operations in Germany,
(ii) completion of the Vår transaction (which will occur immediately prior to closing of the Eni transaction; and (iii) the receipt of other customary
governmental and contractual consents, FDI and anti-trust clearances.
2 Based on 1Q-2023, net to Eni portfolio inclusive Eni share in Vår Energi.
PREDOMINANTLY OECD PORTFOLIO
VIA PIPELINE AND LNG
ADDS ~50% OPERATED PRODUCTION 2
>$0.9 BLN ACCRETIVE TO CFFO IN 2024
>$0.5 BLN SYNERGIES
ADDITIONAL VALUE UPSIDE
LOW SCOPE 1+2 OPERATED CARBON INTENSITY
WITH 5.9 kgCO2eq/BOE IN 20223
3 Includes Norway 100%View entire presentation