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Investor Presentaiton

Financial management Improving credit metrics Credit metrics Long term credit rating enel Rating Outlook 29% 25% 26% 26% 27% Standard & Poors BBB+ Stable 2.5x 2.5x 2.5x 2.4x 2.3x Moody's Baa2 Positive Fitch A- Stable 2015 2019 2020 2021 2022 Net debt/EBITDA - FFO/Net debt 53
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