Investor Presentaiton

LO 5 FASTEST VALUE CREATION HIGHEST PRODUCTION, VALUE AND RETURN GENERATED FROM EXPLORATION 500 400 300 200 100 PRODUCTION FROM NEW FIELD DISCOVERIES IN 2013-2022 | Kboed 20,000 10,000 -10,000 2013 2015 2017 2019 2021 2023 Eni Peer 1 Peer 2- -Peer 3 Peer 4 VALUE CREATION FROM EXPLORATION IN 2013-2022 | US$M 25% 20% 15% IRR FROM EXPLORATION IN 2013-2022* 10% ...... 5% Eni Peer 1 Peer 2 Deepwater Peer 3 Peer 4 Onshore Peer 5 Shelf Peer 6 0% Eni Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 *At Wood Mackenzie base price Source: Wood Mackenzie 10-2023

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