Sustainable Value Creation and Industrial Growth

Corporate governance 1234 Short-term variable remuneration 1 Objective Ordinary consolidated net income Type of target Entry level (50%) Target (100%) Over (120%) 3.9 €bn 4.1 €bn 4.2 €bn Economic 40%2 FFO/Consolidated net financial debt enel Macro objective Profitability 26% 27% 28% Financial Cash and debt management 30%2 Consolidated 11.5 €bn 11.4 €bn 11.3 €bn Economic Efficiency cash cost 20%² Safety in the workplace FI3 2018 1.17 & FA4 <=9 FI3 2018 1.15 & FA4 <=9 F13 2018= 1.11 & ESG Safety FA4 <=9 10%² Management by objectives (MBO) 2018 (%) Weight in the variable remuneration FI: Work-related accident Frequency Index FA: Number of Fatal Accidents during 2018, except for road events 128

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