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Investor Presentaiton

Distribution 1 Full deployment of proven smart meter technology 2 EM 3 endesa 4 Rationale Smart meters 11 ■ Enel-based technology with 39 million smart meters installed. worldwide ■ Fostering further value potential of smart grids and new services development ■Full implementation by 2018 in accordance with the regulatory deadlines % total smart meters installed by Endesa in Spain 41% 70% 100% 2014E 2016E 2018E Main benefits ■ Commercial service and customer service improvement Energy efficiency and savings ■ Improvements network operation in planning and ■Reduction of energy losses 36

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