Investor Presentaiton

STRONG CAPITAL STRUCTURE MAINTAINING INVESTMENT-GRADE RATED BALANCE SHEET HISTORICALLY LOW LEVERAGE LEVEL | % 40 35 30 25 20 15 10 23 5 15-25% RANGE ~4 P.P. MAINTAINING BALANCE SHEET STRENGTH AND FLEXIBILITY GOOD RETURNS ON LIQUIDITY LEADING TO A LOW COST OF DEBT EX-PLENITUDE LEVERAGE ~5 P.P. LOWER THAN REPORTED AT END 2027 2000-2005- 2010- 2015 2016 2017 2018 2019 2020 2021 2022 2004 2009 2014 2023 2024 2027 2024-2027 EX PLENITUDE'S DEBT STRONG INVESTMENT GRADE CAPITAL STRUCTURE AT YE 2023 75% 89% AVG FIXED INTEREST ON LT DEBT AVG LT DEBT ON TOTAL DEBT 2.5x TO FLOATING DEBT LIQUIDITY (€18 BLN) (€7 BLN) 0.8% AVG NET COST OF DEBT LT RATINGS S&P A- MOODY'S Baal FITCH A-

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