Investor Presentaiton

De-risking our long term targets enel Excellent credit quality and well distributed maturities Net Debt/EBITDA of top European Utilities¹ Liquidity and debt maturity by year (€bn) 2. 123 2.5x 4.4x 2019 3.3x 22.7 12.2% 5.7% 10.2% 2.3x 17.73 5.6 6.4 3.6 2.1 2022 Available 2020 liquidity² 2021 2022 New plan Last 3 yrs 2020-22 ■ Enel Average Peers Yearly refinancing on average gross debt 7.5% 19.2% Maturities/Gross Debt Short term The panel includes integrated European Utilities (EDP, Iberdrola, EDF, E.on, Innogy, Engie, Naturgy). Source: Bloomberg estimates @ 04/03/2020 As of March 31st, 2020 Includes the short term debt. 62 62

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