Long-term Climate Strategy and Financial Performance

FFO: +8 €bn in Q4 driven by the expected recovery in working capital Cash flow (€bn) enel ANWC impacts evolution (€bn) 19.7 (2.0) ( 2.0 ) (4.2) (1.9) (2.4) 9M FY Govt & regulatory (5.0) (2.4) 2.6 measures Energy market context (3.7) (2.2) 1.5 Capex (1.1) 1.1 seasonality 9.1 Other & Managerial actions 1.2 0.4 Total (8.6) (4.2) Ordinary ANWC & EBITDA Provisions 1 Other A Income taxes Financial expenses 2 FFO PY 19.2 (2.0) (0.8) (1.8) (2.8) 11.8 1. 2. Accruals, releases, utilizations of provisions in EBITDA (i.e. personnel related and risks and charges). Includes dividends received from equity investments. 77

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