Investor Presentaiton

EARNINGS AND CASHFLOW DELIVERY GROWING RETURNS AND CASHFLOWS 20 EBIT PRO-FORMA ~€13 BLN IN 2024 2027 VS 2024: AROUND +25% ~€60 BLN OVER THE PLAN CFFO ADJUSTED PER SHARE FCF 2024-27 >13% CAGR 2024-2027 AT CONSTANT OIL PRICE 4.2 €/share 6.1 €/share 2024 2027 ■ Energy Evolution Natural Resources € 62 BLN +10$ BRENT/B UPSIDE € 27 BLN NET CAPEX CFFO USES € 35 BLN FCF OVER THE PLAN STRATEGIC FLEXIBILITY DELEVERAGING DISTRIBUTION Ebit and Net Profit are adjusted. Cash Flows are adjusted pre working capital at replacement cost and exclude effects of derivatives. All figures at plan scenario, except where noted. IMPROVING CAPITAL PRODUCTIVITY CFFO GROWTH DELIVERED FROM ALL SEGMENTS EMERGING HIGH QUALITY DIVERSIFICATION PLENITUDE AND ENILIVE WILL ACCOUNT FOR OVER 20% OF CFFO GROWTH OVER THE PLAN REDUCTION IN CORPORATE COSTS €1.8 BLN ALONG THE PLAN PERIOD NET CAPEX 45% OF CFFO

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