Sustainable Value Creation and Industrial Growth

Earnings and targets Visible value creation for our shareholders enel CAGR (%) Earnings growth 2018 2019 2020 2021 2018-21 Ordinary EBITDA (€bn) 16.2 ~17.4 ~18.5 ~19.4 -+6% Net ordinary income (€bn) 4.1 ~4.8 ~5.4 ~5.6 ~+11% Value creation Pay-out ratio 70% 70% 70% 70% Implicit DPS (€/sh) Minimum dividend per share (€) 0.28 0.28 0.33 0.37 0.39 ~+12% 0.32 Three years minimum dividend per share 0.34 0.36 -+9% 40 57

View entire presentation