#1Investor Presentation March 2019 enel#2Agenda Investor Presentation - Strategic Plan 2019-21 Enel Today 2015-2018 Our Delivery 2019-2021 Our Vision & Positioning 2019-2021 Our Pillars Capital allocation 2019-21 Our Plan Business line highlights Financial management Risk management Earnings & targets FY 2018 consolidated results enel#3Investor Presentation Strategic Plan 2019-21 enel#4Enel Today#5Enel today We are a leader in the new energy world 1st network operator¹ World's largest private player2 in renewables Largest retail customer base worldwide1 1. -234 3. 4. By number of customers. Publicly owned operators not included By installed capacity. Includes managed capacity for 4.2 GW It includes nuclear Includes customers of free and regulated power and gas markets 骨 enel 73 mn end users 43.4 GW capacity2 46.4 GW capacity³ X 6.2 GW demand response Non 70.4 mn customers4 4#6Enel today Our business model is well diversified and provides long term visibility North & Central America Iberia enel 0.7 €bn 100% South America 10% 44% 4.4 €bn 46% Italy 2% 50% 55% 7.1 €bn 19% 3.6 €bn 32% 16% 12% 10% 1. As of 2018. Breakdown excludes -0.2 €bn from holding and services Presence with operating assets or through Enel X 2018 Group EBITDA¹ 46% Rest of Europe 30% 22% 0.5 €bn 10 46% Africa, Asia & Oceania 18% 16.2 €bn 7% 28% ■ Networks 0.1 €bn 100% ■Thermal generation ■ Renewables Other ■ Retail 5#72015-2018 Our Delivery#8Our delivery Sustainable, profitable, digitalized and customer centric enel 2015 2018 Renewables focus Owned RES capacity/Total capacity % 41% 46% Decarbonization CO2 Footprint End Users Specific Co2 emissions kg/kWheq 0.409 0.356 mn 61 73 Retail customers Mn customers in the free market 17 22 Customer centricity New businesses Gross margin Enel X €bn n.a. 0.5 Digital impact % of digital investments on total n.a. 19% Group simplification Group net income/total net income 64% 70% Value creation Cash flow generation FFO gross capex €bn 1.8 2.6 Shareholder return DPS €/sh 0.16 0.28 7#9Our delivery Our strategy delivered growth while improving our financial strength Average capex (Єbn) +18% FFO/Net Debt +200bps 25.0% 27.0% 8.0 6.8 Net Debt (€bn) 37.5 41.1 2013-15 2016-18 2015 2018 Rating1 BBB BBB+ EBITDA (€bn) Net income (bn) +8% +41% 16.2 15.0 2.9 4.1 enel 8 2015 2018 2015 2018 1. Standard & Poor's#10Our delivery Active Portfolio Management was balanced and accretive enel Transactions completed 2015-18 (€bn) Operating benefits from APM 2018 2021 End users +10 mn +11 mn 7.7 7.5 Demand response 6.2 GW 9.9 GW Charging points¹ 37k 348k 5.2 Acquisitions Households passed 5.1 mn 8.5 mn Financial impacts² 2.3 Minority buy-out Impact on Group Net Income +100 €mn +300 €mn Source of funds Use of EPS accretion 2% 5% funds 1. eMotorWerks worldwide private charging points 2. Net Impact from both source of funds and use of funds 6#11Our delivery 1. Strong commitment to our SDGs targets LIFE BELOW 14 WATER 15 LAND PEACE JUSTICE AND 16 STRONG TUTIONS 17 PARTNERSHIPS FOR THE GOALS 1 POVERTY 2 ZERO HUNGER 13 CLIMATE ACTION 12 RESPONSIBLE CONSUMPTION AND PRODUCTION GO SUSTAINABLE CITIES 11 AND COMMUNIT SUSTAINABLE DEVELOPMENT GOALS REDUCED 10 INEQUALITIES € INDUSTRY INNOVATION AND INFRASTRUCTURE DECENT WORK AND ECONOMIC GROWTH M Cumulated figures since 2015 AFFORDABLE AND Engaging local communities (mn beneficiaries) enel 20181 20201 QUALITY EDUCATION High-quality, inclusive and fair education 1.0 0.8 HEALTH AND WELL-BEING W 7 AFFORDABLE AND CLEAN ENERGY 4 QUALITY EDUCATION Access to affordable and clean energy mainly in Africa, Asia and Latin America 6.3 3.0 5 GENDER EQUALITY DECENT WORK AND ECONOMIC GROWTH M Employment and sustainable and inclusive economic growth 1.8 3.0 6 AND SANITATION CLEAN WATER Climate change 2018 2020 13 CLIMATE ACTION Reduction of CO2 specific emissions (kg/kWheq) 0.36 <0.35 10#12Our delivery Management actions have driven higher returns and enel shareholder remuneration Value creation spread 120 bps 8.2% 7% 8.8% Shareholder return - DPS (€/sh) +75% Value creation 0.28 250 bps 0.237 0.18 0.16 MIN 0.21 0.28 DPS 6.3% 2015 2018 2015 2016 2017 2018 =ROIC1 -WACC EPS 0.28 0.32 0.36 0.40 1. Adjusted for IFRS15 and WIP 11#132019-2021 Our Vision & Positioning#14Our vision and positioning transition Integrated model captures opportunities from energy enel iGrowth in renewable capacity ENERGY TRANSITION × Full speed renewables towards a full decarbonized profitable mix Urban infrastructure Lead cities transformation through infrastructures and platforms Decarboners Urbanization Grid development & automation 骨 Foster digital networks as key infrastructure in the +4 mn Digitalization Electrification Innovation boost energy transition e-Mobility Push mobility electrification to capture future value 13#15Our vision and positioning Decarbonization shapes our capacity and improves margins Total installed capacity 2018-211 (GW) Production Renewables extra margin Production Twh Twh 89.8 89.4 93.4 250 256 7.0 11.6 39.5 98 127 46.4 46.5 26 24 99 99 1. 2. 4. -234 43.4 42.9 53.9 132 FY 2018 Target 2018 Thermal Renewables 2021 capacity additions reduction 51% 48% Emission free production³ 62% Renewables Thermal Generation Nuclear Includes managed capacity. 0.6 GW additional capacity subject to portfolio rotation Emission free production includes nuclear generation and production form managed capacity in 2018 Target certified as «Science based». CO2 specific emissions will be <0.345 kg/kWheq in 2021 enel -20% extra margin Thermal cost Solar LCOE CO2 specific emissions <0.35 kg/kWheg in 20204 CO2 specific emissions 0.23 kg/kWh in 2030 Decarbonization in 2050 13 14#161. 23 2. Our vision and positioning Electrification and urbanization drive infrastructure investments and new services to clients Infrastructure investments Network automation efficiency Customer/RC node -16% Customer needs and services Electricity distributed (TWh) +7% End users (mn) +3% enel OETRYMONTEN 11 CONTES ABES Free market customers³ (mn) +64% 382 75 36 321 485 518 73 22 2018 2021 2018 2021 2018 2021 2018 2021 2018 2021 2018 2021 یم Public lighting Demand response (GW) 6.2 9.9 2.5 3.4 (mn points) Storage (MW/yr) 3 173 Charging points 1 (k) 49 455 Maintenance and repair (mn clients) 3.0 4.0 до Fiber deployment 5.1 8.5 (Households passed mn)² Credit cards (mn) 0.8 1.9 15 Power and gas customers Public & private charging points installed (public 5.5k in 2018 and 24.1k in 2021) Includes Italy for clusteres A&B and C&D#17Our vision and positioning Digitalization fuels economic benefits and satisfies customers needs 2019-21 Digitalization Capex Cumulated economic benefits (€bn) Key highlights enel QTRYWATN TRECT 84% 11% 5% 5.4 €bn 2.5 Asset Customer People Asset Customers 141 People 2019-21 EBITDA ~4 €bn for networks digitalization Advanced automation of construction and O&M of renewable assets Increased flexibility and automation for thermal generation plants Process automation and increased offering to customers 16#182019-2021 Our Pillars#19Our pillars Sustainable value creation over the long term Industrial Growth Operational Efficiency Simplification Asset development Customers Asset Management 27.5 €bn capex 3.2 €bn incremental EBITDA Asset management Customers enel Human Capital Communities Corporate Streamlining & 1.2 €bn opex savings People 18#20Our pillars Industrial Growth Asset development supports our growth ambitions enel Total gross capex by business and by nature¹ 2019-21 9% 70.5% 27.5 €bn 6.2 40% 42% ■ Networks ■ Renewables Thermal ■ Enel X ■ Retail 1. Includes 1.6 €bn BSO capex 4.8 Asset development by business¹ 2019-21 64% 27.5 €bn 28% 16.5 €bn 16.5 4% 4% ■ Asset development ■ Networks Generation ■ Customers ■ Asset management ■ Thermal generation ■Renewables ■ Enel X 19#21Our pillars Industrial Growth Renewables are the driving force of growth Higher investments to build 11.6 GW additional capacity Focus on markets with integrated presence & on developed countries Value creation through decarbonization & integration with retail portfolio enel 13 Asset development capex¹ 2019-21 Additional capacity by geography 9% 4% 6% 15% 3% 4% 14% 16% 10.6 €bn ~11.6 GW2 37% 33% 30% 29% Maximization of portfolio returns Italy South America North & C. America Iberia Rest of Europe Africa, Asia & Oceania 1. Includes 1.6 €bn BSO capex 2. Of which 1.8 GW related to BSO and 0.8GW related to JVs. By technology 70% 28% 20 20#22Our pillars Industrial Growth Networks' investments tailored to maximize asset base value enel BTW.MATE ONCE Restructuring of Eletropaulo Completion of Goias turnaround Resiliency and flexibility in Italy and Spain Digitalization to promote efficiencies and improve service quality Gross capex 2019-21 by nature & by geography 29% 11.1 €bn 42% 3% 29% 36% 11.1 €bn 44% 2021 RAB ~45 €bn: ~30% South America, ~70% Europe ■ Asset development ■Customers ■ Asset Management Italy 17% ■ Iberia ■ South America Rest of Europe 21 21#23Our pillars Industrial Enel X capital allocation addresses customers' needs enel eenel x Growth BTW.MATE ONCE Smart lighting and fiber optics for cities Gross capex 2019-21 by nature & by geography Electric mobility in Italy, Spain, US and Romania Demand response and storage solutions for C&I customers Energy efficiency solutions 41% 13% 39% 27% 1.1 €bn 1.1 €bn 59% ■ Asset development ■ Customers 21% Italy ■ Iberia ■ South America ■ North & C. America 22 22#24Our pillars Operational Efficiency Driving efficiencies across all businesses Opex evolution (€bn)1 -7% FY2018 0.6 0.1 (1.2) 8.5 8.7 Efficiency by business 23% enel 33% 1.2 €bn 8.1 36% 8% 2018 CPI & Forex Growth Efficiency 2021 2 ■ Networks ■ Thermal generation ■ Retail Other 1. Total fixed costs in nominal terms (net of capitalization) 2. Of which CPI +0.9 €bn and forex -0.3 €bn 23 23#25Our pillars Our commitment to SDGs and Human Capital enel Human Engaging local communities (mn beneficiaries) Capital 20301 Our people 4 QUALITY EDUCATION High-quality, inclusive and fair education 2.5 2021 AFFORDABLE AND CLEAN ENERGY Access to affordable and clean energy 10.0 Talent attraction and retention Appraise performance of people we work with³ 8 DECENT WORK AND ECONOMIC GROWTH M Climate change Employment and sustainable and inclusive economic growth 8.0 Climate corporate survey³ 100% of people involved 99% of people appraised 100% of people involved 86% of people participating 2030 Diversity 13 CLIMATE ACTION Reduction of CO2 specific emissions (kg/kWheq) 0.23 Innovation and infrastructure/Sustainable cities 2021 Global implementation of the diversity and inclusion policy Training Recruiting should ensure equal gender splitting of the candidates (c. 50%) INDUSTRY. INNOVATION AND INFRASTRUCTURE Smart meters (mn) 46.9 Enable digital skills diffusion among people we work with 100% of people involved in digital skills training SUSTAINABLE CITIES 11 AND COMMUNITIES Digitalization capex (Єbn) 5.4 1. Cumulated figures since 2015 Charging points² (th) 455 2. 3. Public & private charging points installed (public 5.5k in 2018E and 24.1k in 2021) Eligible and reachable people having worked in the Group for at least 3 months 24#26Our pillars Sustainable, profitable, digitalized and customer centric 2015 2018 2021 Renewables focus Owned RES capacity/Total capacity % 41% 46% 55% CO2 Footprint Specific Co2 emissions kg/kWh 0.409 0.356 0.345 enel End Users mn 61 73 75 Retail customers Mn customers in the free market 17 22 36 New businesses Gross margin Enel X €bn n.a. 0.5 0.9 Digital impact Cumulated EBITDA 2019-21 (€bn) n.a. 2.5 Group simplification Group net income/total net income 64% 70% Cash flow generation FFO - gross capex €bn 71% 1.8 2.6 4.4 ~1.7x 25#27Our pillars Improved return on invested capital supporting dividend growth Value creation spread 8.8% Value creation 250 bps 10.2% Implicit DPS at 70% pay-out (€/sh) +39% enel CAGR 2018-21 Value creation 400 bps 0.39 + 12% 0.37 0.33 0.28 Min 0.28 0.32 0.34 0.36 +9% DPS 6.3% 6.2% 2018 2021 2018 2019 2020 2021 =ROIC1 -WACC EPS 0.40 0.47 0.53 0.55 1. Adjusted for IFRS15 26#282019-2021 Our Plan#29Our plan New investment cycle drives growth while debt remains stable Average capex (€bn) +12% Net Debt (€bn) 8.2 9.2 2018-20 Old Plan 2019-21 EBITDA (€bn) 16.2 +20% 19.4 41.1 41.8 2018 Net income (bn) 4.1 +37% 2021 5.6 enel 2018 2021 2018 2021 28#30Our plan Solid improvement in profitability, returns, and credit enel metrics Profitability +400bps Return on invested capital FFO/Net debt +410 bps +140bps 29% 29% 27% 25% 9.3% 8.8% 10.0% 10.2% 31.1% 27.0% 27.4% 28.6% 8.2% 25.0% 19% 7% 6.3% 6.3% 6.2% 6.2% 2015 2018 2019 2020 2021 2015 2018 2019 2020 2021 2015 2018 2019 2020 2021 " Net income/EBITDA ■ ROIC - WACC 29 29#312019-2021 Capital Allocation#32Capital allocation Increased capex plan focused on asset development enel and customers Capex plan1 (Єbn) +12% 27.5 24.6 6.2 6.1 4.8 4.1 EBITDA evolution by investment (€bn) +20% 0.1 1.0 2.1 19.4 16.5 14.4 16.2 2018-20 old plan 2019-21 new plan EBITDA 2018 Asset development Customer Asset management EBITDA 2021 ■Asset development Customer ■Asset management Asset management pre-tax cumulated cash generation above 32€bn 1. It includes 1.6€bn BSO capex 31#33Capital allocation 1. 2. Growth driven by networks and renewables Capital allocation 2019-21 (€bn) 16.5 4.8 6.2 Total by business¹ 4% 28% X 9% 11.6 30% 11.1 66% 1.1 52% 64% 2.5 25% 15% 1.3 Asset development Customers Asset management It excludes other equal to -0.1 €mn. Thermal generation includes nuclear. Calcukated on 2018 target Excluding the impact of our asset rotation programme enel Incremental EBITDA² (€bn) 2018 target vs X 2021 +1.0 +1.2 +0.4 +0.5 +0.5 32#34Capital allocation Beyond plan period, run rate capex grows from enel 6.7€bn to 8€bn Capex run-rate (€bn) +19% 6.7 8 Run rate old plan Run rate new plan Drivers of run rate by business line Development of 3.5/4 GW per year Resiliency, digitalization and service quality Infrastructure investments to cope with customers' needs Increased flexibility and restructuring in thermal generation fleet Retail 40 42- 43% ~8 €bn 45% 45% *5% 7% 33#352019-2021 Business Line Highlights#36Business line highlights 1. 2. Renewables: diversifying mix, improved visibility enel Installed capacity and Production by technology1 CAPACITY (GW) +23% 48 PRODUCTION (TWh) +32% 2019-21 Sales portfolio composition 54% PPA duration (yrs) > 15 30% 132 10-15 17% 39 5 ~100 2 14 8 ~357 TWh 13% 5-10 16% 1% < 5 37% 32% 28 28 ■ Incentivized ■ Forward sales 2018 2021 2018 2021 Hydro Wind Solar Other ■LT PPA contracted Open position² ~ 68% of cumulated production sold forward Consolidated capacity only Volumes to be sold forward in year n-1 35#37Business line highlights Incremental asset development capex fully allocated enel to renewables Asset development capex evolution (€bn) Incremental renewable capacity by geography and technology 5% 8% ~ 4 10.6 60% 1.6 BSO 8.3 (~2) 18% -5 GW 41% 40% 3.4 BSO 24% ■ Brazil Italy ■ USA ■ Chile ■ Iberia ■ Other Old plan 2018-20 BSO Organic New plan 2019-21 EBITDA/CAPEX1 13% IRR spread over WACC ~200 bps 1. Calculated as asset develpoment Ebitda at regime/Capex (net of BSO) 36#38Business line highlights Renewables: accelerating growth enel Gross Capex 2019-21 2018-21 EBITDA evolution (€bn) +23% 0.9 0.1 FY2018 5.4 8% 4.5 11.6 €bn 92% 4.4 ■ Asset development 2018 ■ Asset management Asset development Asset management 2021 Asset management pre-tax cumulated cash generation for ~12€bn 37#39Business line highlights 1. 2. Networks: 4% total RAB growth Europe: RAB evolution (€bn) 31 31 2018 2021 Energy distributed 368 result (TWh) 356 target 368 WACC nominal pre-tax Blend of Rio, Ceará, Goias and Eletropaulo South America: RAB evolution (€bn) +30% 14.0 1.3 10.7 2.7 09 2.2 2.0 1.7 5.5 4.6 1.3 2.5 2018 2021 enel Argentina Brazil Chile Colombia Peru 117 149 38#40Business line highlights Networks: profitability supported by asset turnaround and efficiencies enel Gross Capex 2019-21 29% 11.1 €bn 29% 42% ■ Asset development 2018-21 EBITDA evolution (€bn) 7.6 +17% 0.4 (0.3) 0.5 0.2 0.5 8.9 ■ Customers ■ Asset Management 2018 Eletropaulo Connections Tariff & volumes Efficiency FX 2021 39#41Business line highlights Networks: Eletropaulo turnaround doubling EBITDA Eletropaulo asset turnaround (EBITDA €mn) +2x 0.2 0.1 0.3 Eletropaulo operational KPIs enel 2018 2021 Electricity distributed 43 +9% 0.4 (TWh) Quality index (%) -2.1 +99bps 0.7 Opex/end user (€/cust) 63 63 -30% 2021 Networks benchmark Eletropaulo Cearà 2021 2021 RAB/end user (€/cust) ~255 ~275 Operating 2021 Opex/end user (€/cust) ~44 -36 2018 6M 2018 2018 pro forma pro forma improvement 1. Quality on service rewards/penalties and losses reduction economic impact on gross margin 40#42Business line highlights Enel X: capturing new opportunities with customers Gross Capex 2019-21 41% 1.1 €bn 59% 2018-21 EBITDA evolution1 (€bn) 0.1 0.1 0.1 enel 0.2 0.5 Customers +0.3 €bn 0.1 Asset Development + 0.2 €bn ■ Asset development ■ Customers 2018 e-City e-Mobility e-Home e-Industry 2021 1. Rounded figures 41#43Business lines highlights 72 1. 2. Retail: further growth on increase in customer base and efficiency enel 2018-21 EBITDA evolution (€bn) 2018-21 free market customers1 (mn) 2018-21 volumes sold² (TWh) +17% +64% +33% 0.1 3.4 2.9 0.7 0.7 0.3 36 198 2.2 2.3 22 149 2018 2021 ■South America ■ Iberia ■Romania Free market power and gas customers. Includes Italy, Spain and Romania Free market. Includes Italy, Spain and Romania 2018 2021 2018 2021 42#442019-2021 Financial Management#45Financial management Stable debt throughout the plan Net debt evolution (€bn) -% 41.1 ~41.8 ~42.2 ~41.8 Source of funds allocation 2019-21 (€bn) 41.1 0.3 (27.5) enel (13.9) 2018 2019 2020 2021 Sources of funds Incremental Debt Gross capex Dividends 44#46Financial management Improving credit metrics Credit metrics Long term credit rating enel Rating Outlook 31.1% 27.0% 27.4% 28.6% 25.0% Standard & Poors BBB+ Stable 2.5x 2.5x Moody's 2.4x 2.3x 2.2x 2015 2018 2019 2020 2021 ☐ Net debt/EBITDA - FFO/Net debt Baa2 Stable Fitch A- Stable 45#471. 2. Financial management Continued reduction in cost of debt Financial strategy for 2019-21 (€bn) Net financial expenses on debt (€bn) enel Amount Expected Current total cost² -4% cost Bond refinancing 6.2 3% 4.2% 5.0% FY 2018 4.5% including green bonds¹ 4.6% 4.6% 4.4% 4.4% Bank loans and other financing 2.8 2.5% 2.3% 2.6 2.3 2.3 2.2 2.2 Hybrid refinancing 1.8 4.9% 6.4% Emerging markets 2.8 7.4% 7.6% 2015 2018 2019 2020 2021 Total 13.6 4.1% 4.8% ■Net financial expenses Cost of gross debt 1 €bn Green bond already issued in January 2019 Enel estimates on current cost associated with financial instruments 46#482019-2021 Risk Management#49Risk management Operating risk: low EBITDA exposure to merchant risk enel EBITDA 2019-21 (€bn) 55.3 Merchant 28% Retail portfolio hedge Regulated & 72% contracted Regulated EBITDA by business 2019-21 X Regulated Regulated, contracted under long term PPA, incentivized Regulated Regulated con Regulated 2019-21 EBITDA 100% - 64% 2 - 46% ~ - 23% 20% 48#50Risk management Operating risk: natural margin hedge from retail portfolio Integrated margin - Generation GM vs retail GM enel Hedging position on price driven production Coal & Gas 13% Renewables + Nuke Hedging of CDS-CSS based on scenario/market 87% Natural hedging with retail portfolio Generation Gross margin Pool price indexed Ren & Nuke hedged price vs 2018 +13% Large customers Small and medium customers Retail margin vs 2018 = 100% +19% = 62% Retail portfolio 2019 2020 49#51Risk management Operating risk: low regulatory risk over the plan period enel South America Europe 2018 2019 2020 2021 2022 WACC 2018 2019 2020 2021 2022 WACC Italy 5.9% Brazil² 12.3% Iberia1 5.58% Colombia 11.8% 11.4% Romania 5.7% Chile 10% Argentina 12.5% 2019-21 BP Peru 12% 2019-21 BP Stable and mature regulations 1. WACC nominal pre-tax 2. Blend of Rio, Ceará, Goias and Eletropaulo Highly visible frameworks 50 50#52Risk management 123 Operating risk: renewables growth already significantly addressed 2019-21 Additional capacity addressed¹ (GW) enel Pipeline by geography and technology² (GW) ~70% addressed 11.6 Coverage by yr 22% 7% 6% 2019 100% 2020 78% 19.8 GW 8.2 2021 41% 21% 44% 3.4 Italy and Iberia ■ South America ■Rest of Europe ■ North & C. America Target additional capacity Addressed Residual target ■ Asia/Australia It includes managed capacity As of December 2018 Includes 2019-2021 CODS only Total pipeline / residual target Short term pipeline³ / residual target - 6x ~ 4x 44% 55% 51#53Risk management Currency risk: low exposure to volatile currencies enel FX sensitivity1 - Avg. yearly impact 2019-21 (€mn) 2019-21 EBITDA by geography 2019-21 EBITDA by currency EBITDA Group NI BRL (180) 225 (30) 35 63% 63% ARS (35) 40 (6) 8 55.3 €bn 55.3 €bn CLP (6) 6 . COP (100) 125 (12) 15 26% 32% 5% 11% PEN (20) 25 25 (2) ~3 ■ EUR Europe ■ North America ■ USD TOTAL (340) 420 (50) ■ South America 60 60 ■ South America % on yearly value (1.8%) 2.3% (<1.0%) 1.1% 1. Sensitivity based on +/-10% USD/LOC (EUR/USD @Plan). Rounded figures 52 52#54Risk management Financial risk: gross debt hedges softening FX swings and rates movements Gross debt by currency at 2021 After swap 57% enel Interest rate composition 86% 22% 55.1 €bn 55.1 €bn 7% 7% 6% 7% 30% 55.1 €bn 78% - EUR ■ USD ■ GBP ■ Other ■ EUR - USD ■ GBP ■ Other Floating ■Fixed + Hedged 53 53#55Risk management Financial risk: limited re-financing needs; strong available liquidity Debt maturity by year 1 (€bn) 2019-21 Liquidity available¹ 1. As of December 2018 Maturities/Gross Debt 14.6 21.3 €bn 6.3% 8.1% 6.7% 6.7 11.3 4.3 3.4 3.6 2019 2020 2021 Total New plan Last 3 yrs Refinancing on average gross debt 8.2% 16.0% ■ Available committed credit lines - Cash Total liquidity / Maturities 143% enel 54#562019-2021 Earnings & Targets#57Earnings and targets Strategy driving 37% increase in earnings vs 20% increase in EBITDA enel Group net ordinary income (Єbn) 2018-21 Group net ordinary income evolution (€bn) +37% 4.1 4.8 5.6 5.4 4.1 3.2 (0.4) 0.1 (0.9) (0.5) 5.6 2018 2019 2020 2021 2018 EBITDA D&A Financial charges Taxes Minorities 2021 56#58Earnings and targets Visible value creation for our shareholders enel CAGR (%) Earnings growth 2018 2019 2020 2021 2018-21 Ordinary EBITDA (€bn) 16.2 ~17.4 ~18.5 ~19.4 -+6% Net ordinary income (€bn) 4.1 ~4.8 ~5.4 ~5.6 ~+11% Value creation Pay-out ratio 70% 70% 70% 70% Implicit DPS (€/sh) Minimum dividend per share (€) 0.28 0.28 0.33 0.37 0.39 ~+12% 0.32 Three years minimum dividend per share 0.34 0.36 -+9% 40 57#59Investor Presentation FY 2018 consolidated results enel#60Key highlights of the period Industrial Growth Simplification enel Operational Efficiency Human Capital Continued exceptional delivery on renewables development Double digit increase in end users Further decline in operating costs Portfolio rotation and further simplification to accelerate growth and optimize risk profile Significant progresses on SDGs 4, 7 and 8 Ordinary EBITDA up by 4% Group Net income up by 9% 59#61Financial targets delivery enel 2018 2018 target 2017 ΔΥΟΥ Ordinary EBITDA (€bn) 16.2 16.2 15.6 +4% Net ordinary income (€bn) 4.1 4.1 3.7 +9% Dividend per share (€) 0.28 0.28 0.237 +18% Net debt (Єbn) 41.1 41-42 37.4 +10% FFO/Net debt 27% 26.5% 27% - % 60 60#62Industrial growth: capex Industrial Growth FY 2018 Gross capex¹ enel FY 2018 Asset development capex by business and geography 4% 3% 5% 10% 5% 23% 45% 36% 8.5 €bn 34% 4.7 €bn 4.7 €bn 61% 11% 38% R% 23% ■Networks ■Thermal Generation ■ Enel X ■Renewables ■Retail 1. FY 2018 figure includes 378 €mn related to BSO Mexico Africa, Asia & Oceania South America Renewables Networks Italy Iberia Other North & CA RoE 61#63Grnath Continued delivery on renewables growth Renewable capacity evolution 20181 (GW) Total capacity 40.9 43.4 0.4 1.7 Managed capacity (0.4) 4.2 2.6 2.72 (0.1) (1.7) 39.2 Consolidated 38.3 +3GW Total capacity FY 2017 Additional capacity Disposal Build and sell 90.4 Total production (TWh) 1. Rounded figures 2. Including acquisitions for 0.2 GW enel Additional capacity of 3 GW mainly in North & Central America Asset rotation to maximize portfolio returns Production up by 20% FY 2018 68% of 2019-21 total production already sold forward 108.4 62 62#64Group's decarbonization Industrial Growth Share of renewables on total installed capacity1 (GW) 1. 2. 3. 4. 87.5 89.8 Emission free share of production² enel 13 D 45% emission free 51% emission free 46.4 46.6 -% 2017 257 TWh 2018 260 TWh 43.4 40.9 +6% 2017 20184 2020 2030 FY 2017 FY 2018 CO2 specific emissions (kg/kWheq) ~0.40 ~0.36 <0.35 0.23 Renewables Thermal Generation Includes managed capacity for 2.6 GW in FY2017 and 4.2 GW in FY 2018. Emission free production includes nuclear generation and production from managed capacity Target certified as «Science based». CO2 specific emissions will be <0.345 kg/kWheq in 2021 Calculated including managed capacity 63 69#65Industrial Growth Networks End users (mn) 65.5 +11% MONTEN FRASTR 11 ALTE Smart meter (mn) QSTRATES OMSTRETE +3% 72.9 Smart meters 2.0 (mn) 42.6 6.8 43.8 enel +1.2 mn smart meters installed +5.1 mn meters 2.0 installed in Italy Eletropaulo: + 7 mn customers Turnaround underway Goias restructuring 1.7 FY 2017 FY 2018 FY 2017 FY 2018 Promising regulatory outlook 4% Smart meters 2.0 on total 15% 1. FY 2017 restated 64#66Industrial Growth 1. 2. Enel X Infrastructure BESTIMMTEN 2017 2018 Public lighting (mn points) 2.5 2.5 Charging points¹ (k) 30 30 49 49 Fiber deployment 2.4 5.1 (Households passed mn)² Accelerated infrastructure deployment Public & private charging points installed (public 1.8 k in 2017 and 5.5 k in 2018) Italy only, clusters A&B and C&D COMMENTS Customer services Demand response (GW) +9% 6.2 +63% 5.7 > 2x enel OSTRY. MATEN STRE X Storage (MW) +50% 3.0 2.0 FY 2017 FY 2018 FY 2017 FY 2018 0 22 BESS (MW) 0 45 Global leadership in demand response 65#67Operational Efficiency Driving efficiencies across all businesses Opex evolution¹ (€bn) 1234 8.6 -1% 8.5 FY 2017 FY 2018 Opex - main drivers (Єmn) Growth enel 50 50 Perimeter and One-offs² 310 In nominal terms, rounded figures. Adjustments: FY 2017 excludes +45 €mn one-offs, FY 2018 excludes +94 €mn one-offs Includes net delta Perimeter of +264 €mn Including hyperinflation in Argentina for 56 €mn Includes impact of IFRS 15 for -163 €mn CPI & Forex³ (145) Efficiency4 (315) 66#68Simplification 1. Portfolio management and simplification Portfolio rotation Corporate streamlining Deals executed ELETROPAULO ACQUISITION 1H 2018 enel enel Recent transactions EGP Brazil Sale of 540MW1 renewable assets Enterprise value 700 €mn Company highlights and geographical fit 7.2 m Clients 43TWh Energy Sold 1.5k/km² Density EBITDA evolution 2017-2021 Sme -50 100 -100-150 -150-200 295 São Paulo Bra enci 6.1 MWh Avg. Consumption 9.8% Losses EBITDA 2017 Enciendes RAB grown EV/RAB Multiples Volume EnelX EBITDA growth & retail 21216 Accounted as held for sale CHILEAN RESTRUCTURING 1Q 2018 2.2 2.2 2.3 2.1 Etro Eletropaul Equatorial Energaa BEE 2010 BEE enel EGP North America Acquisition of 650 MW from US JV Equity value of 256 US$mn Previous structure 0 80.6% enci enel Chie Final structure enei Chile 100.0% 6003 09.1% 10003 935% 98.1% · enei enel enei enei enei ene Generación Distribución Chile Generación Distribución Chile Merger of Enel Chile with EGP Chile Cash and stock PTO by Enel Chile on EGC Total PTO acceptance: c.a. 84% 1.7 US$ bn cash out for the whole transaction² Stake in EC increased by 1.3 p.p. Enel economic interest³ up to 58.3% from 48.9% Integrated management of renewable and thermal generation Enel Americas Shares swap on 5% of Enel Americas capital 67#69Human Capital Our commitment to SDGs - Communities & people 14 13 CATE ACTION 12 LIFE BELOW CONSUMPTION 15 11 16 17 PARTNERSHIPS FOR THE BOALS POVERTY SUSTAINABLE DEVELOPMENT GOALS 10 REDUCED INEQUALITIES MUST PROVATION 555 DECENT WORK AND ECONOMIC GROWTH M CLEAN ENERGY enel 20181 20301 QUALITY EDUCATION High-quality, inclusive and fair education 1.0 2.5 7 AFFORDABLE AND CLEAN ENERGY AND WELL RING Access to affordable and clean energy 6.3 10.0 AND 4 QUALITY EDUCATION DECENT WORK AND ECONOMIC GROWTH 5 GENDER EQUALITY Our people 1. Cumulated data and targets from 2015 2. Eligible and reachable people having worked in the Group for at least 3 months Employment and sustainable & inclusive economic growth 1.8 8.0 Talent attraction & retention Diversity & Training Appraise performance of people we work with² Climate corporate survey² Global implementation of diversity and inclusion policy Enable digital skills diffusion among our people 20181 99% people appraised 86% people participating 39% women in recruit. processes 35% people involved 68#70Shareholder remuneration EPS (€/sh) 0.28 +68% 0.40 +18% 0.47 DPS (€/sh) >2x +18% 0.33 0.28 0.16 enel 2015 2018 2019 2015 2018 2019 0.16 0.28 0.32 Min. guaranteed DPS 69#71FY 2018 consolidated results Financial results#72Financial highlights (€mn) enel FY 2018 FY 2017 A yoy Net of FX4 Revenues Reported EBITDA Ordinary EBITDA1 Reported EBIT 75,672 74,639 +1% 16,351 15,653 +4% 16,158 15,555 +4% +7% 9,900 9,792 +1% Ordinary EBIT 9,793 9,736 +1% Reported Group net income 4,789 3,779 +27% Group net ordinary income² 4,060 3,709 +9% +10% Capex³ 8,530 8,499 -% Net debt 41,089 37,410 +10% FFO 11,075 10,126 +9% 1. Excluding extraordinary items for 98 €mn in FY 2017 and for 193 €mn in FY 2018. Includes hyperinflation in Argentina for 62 €mn 3. 2. Including one off for +161 €mn in FY 2017 and +308 €mn in FY 2018 4. Including 775 €mn for capex related to HFS in FY 2017 and 378 €mn in FY 2018 related to BSO Mexico Includes hyperinflation in Argentina 71#73Ordinary EBITDA evolution (€bn) EBITDA evolution1 (€ bn) 123 +4% 16.2 15.6 FY 2017 FY 2018 enel € mn Growth in renewables and networks 1,000 Efficiency 315 Perimeter and One-offs² 20 Rounded figures. FY 2017 includes one off for +298 €mn and FY 2018 for +80 €mn. Net delta Perimeter is equal to +238 €mn Includes hyperinflation in Argentina for 62 €mn FX3 (470) Scenario and margins (265) 72 12#74Ordinary EBITDA by business line 1.1 2.9 16.21 €bn 4.5 .1 7.6 ■ Networks ■ Enel X ■ Renewables ■ Thermal Generation ■ Retail 1. Rounded figures Performance driven by growth and volume/prices Growth and efficiencies enel ΔΥΟΥ +12% +3% Higher margins across all markets +20% Focus on new infrastructures and services Normalization of market environment and thermal gap (40%) 73#75Global Renewable energies EBITDA evolution1 (€ bn) enel EBITDA FY 2018 by geography +12% € mn Growth 715 2% 4% 16% 25% Efficiency (40) 4.5 €bn 4.5 Perimeter and One-offs² 4.1 (100) 8% 45% FX (150) Italy Scenario and margins 60 Iberia Africa, Asia & Oceania ■South America FY 2017 FY 2018 North & CA ■ROE 1. Rounded figures 2. FY 2017 includes one offs for +100 €mn, FY 2018 includes one offs for - 7€mn. Net delta Perimeter is equal to +6 €mn 74#76Global Infrastructure and networks EBITDA evolution1 (Єbn) +3% € mn Growth 200 enel EBITDA FY 2018 by geography 2% 25% 140 Efficiency 7.6 7.4 Perimeter and One-offs² 440 26% 7.6 €bn 47% FX (220) Italy South America Scenario and margins (365) ■Iberia RoE FY 2017 FY 2018 1. Rounded figures. 2. FY 2017 includes one offs for -135 €mn, FY 2018 includes one offs for +124 €mn. Net delta Perimeter is equal to +181 €mn 75#771. 234 2. 3. 4. Retail EBITDA evolution1 (Єbn) enel Free market - main KPIs € mn Volumes (TWh)4 -% +20% Growth and margins 340 2.9 2.4 0.7 Efficiency² 152 200 153 0.5 Perimeter and One-offs³ (55) 2.2 2.0 FY 2017 FY 2018 FX 14.5 Customers (mn) 16 FY 2017 FY 2018 Italy Iberia 13.1 Unitary margin (€/MWh) 14.1 Rounded figures. Includes impact of IFRS 15 for 163 €mn FY 2018 includes one offs for - 4€mn. Net delta Perimeter is equal to -52 €mn Net of energy losses 76#78From Ordinary EBITDA to Net Ordinary Income 16.2 (6.4) (2.3) 9.8 (1.9) (1.6) 7.5 Ordinary EBITDA D&A EBIT Financial EBT expenses Income taxes Minorities & other 1 enel 4.1 Group net ordinary income PY 15.6 (5.8) 9.7 (2.7) 7.1 (1.9) (1.5) 3.7 Delta YoY +4% +9% +1% -14% +6% -% +5% +9% 1. Includes other financial expenses (-439 €mn for FY 2017, -102 €mn for FY 2018) and results from equity investments (+118 €mn for FY 2017, +81 €mn for FY 2018) 77#79Cash flow (€bn) 16.2 (1.9) 1.1 (2.6) (1.7) 11.1 (8.5) 0.7 enel 3.3 Ordinary EBITDA A Provisions AWorking capital Income taxes Financial expenses² FFO³ 4 Capex Build & sell FCF & other PY 15.6 (1.7) (0.5) (1.6) (1.7) 10.1 (8.5) 0.8 2.4 Delta YoY +4% +10% n.m. +9% +54% +9% -% -% +37% 123 2. 1. Accruals, releases, utilizations of provisions in EBITDA (i.e. personnel related and risks and charges) Includes dividends received from equity investments 4. EGP Brazilian assets classified in HFS for 362 €mn and capex related to BSO Mexico for 378 €mn 78 3. Funds from operations#80Debt and financial expenses (€bn) Gross and net debt +9% Net debt evolution 56.0 51.4 6.7 7.0 37.3 8.2 6.9 (3.3) 37.4 41.1 FY 2017 FY 2018 ■Net debt Financial receivables Cash Financial expenses on debt: 2.3 €bn (-70 €mn vs. PY) 1. Net debt FY 2017 restated at 01/01/2018 to account for IFRS 9 for -111€mn enel 2.8 0.9 3.4 41.1 Dec 31, 2017 continuing operations 1 FCF Dividends paid Active portfolio management FX FY 2018 Cost of gross debt: 4.5% (-20 bps vs. December 2017) 79#81Solid improvement in profitability, returns, and credit metrics enel Profitability +600bps FFO/Net debt Long term credit rating +200 bps Rating Outlook BBB+ Stable S&P 27% 27% 25% 25% 24% Moody's Baa2 Stable 19% 8.2% 8.7% 8.8% 2015 2017 2018 2015 2017 ■Net income/EBITDA O ROIC FFO/Net debt Fitch A- Stable 2018 80#82Closing remarks Indu Sar Grol Solid 2018 results support good prospects for future years Focus will be on organic development, efficiencies and simplification Operativitat Simplification Strong commitment to SDGs to create sustainable value 2019 guidance, reiterated, underpins a yoy EPS and DPS growth of c. 18% enel Пuman Capital 81#832019-2021 Financial annexes#84Agenda Macro scenario Thermal generation Renewables Infrastructure & Networks Retail Enel Group enel 83#852019-2021 Macro scenario#86Macro scenario GDP, CPI, FX Italy enel GDP (%) CPI (%) FX against €¹ 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019 2020 2021 0.8 1.2 1.1 1.0 1.1 1.5 1.6 1.7 n.m. n. m. n. m. n. m. 2.5 2.3 2.0 1.8 1.7 1.7 1.7 1.7 n.m. n. m. n. m. n. m. Iberia South America Argentina (2.4) 3.1 3.1 3.0 33.8 20.0 17.0 14.0 43.2 36.2 38.6 40.4 Brazil 1.1 2.8 3.0 2.8 3.7 4.0 4.2 4.2 4.5 4.3 4.4 4.5 Chile 4.0 3.2 3.2 3.2 2.7 3.0 3.0 3.1 796.1 744 746 747 Colombia 2.7 2.9 3.1 3.1 2.7 3.4 3.4 3.4 3,725.0 3.657 3,767 3,859 Peru 4.0 4.0 4.1 4.1 4.0 2.5 2.6 2.5 3.9 4.0 3.9 3.9 Europe and North Africa Romania 4.3 4.0 3.3 2.9 4.3 3.4 2.8 2.4 4.7 4.9 4.9 5.0 Russia 1.6 1.9 1.7 1.7 1.6 4.2 4.3 4.2 80.0 74.1 75.6 76.9 North & Central America USA 2.9 2.3 2.1 1.9 2.9 2.2 2.3 2.3 1.1 1.2 1.2 1.2 Mexico 2.0 2.5 2.6 2.5 2.0 3.7 3.4 3.3 22.5 22.7 22.9 23.2 1. Year end 85#87Macro scenario Commodities' prices 2018 2019 2020 2021 Gas TTF €/MWh 22.8 19.7 18.9 18.5 Gas Henry Hub $/m mbtu 3.1 3.0 3.1 3.2 Oil Brent $/bbl 71.5 69.0 67.5 63.5 Coal API2 $/ton 91.9 77.0 75.0 74.0 CO₂ €/ton 15.9 16.0 17.5 18.0 enel 86#882019-2021 Thermal generation#89Thermal generation Final installed Capacity (GW) Italy Iberia South America Europe and North Africa North & Central America Africa, Asia & Oceania Total enel Nuke CCGT and Oil & Gas Coal Total 2018 2021 2018 2021 2018 2021 2018 2021 7.3 6.9 6.3 5.5 13.6 12.6 3.3 3.3 7.8 7.7 5.5 3.0 16.2 14.1 6.9 6.9 0.8 0.8 7.7 7.6 5.3 5.2 3.6 " 8.9 5.3 3.3 3.3 27.3 26.8 15.8 9.3 46.4 39.5 88#90Thermal generation Installed Capacity (GW) 46.4 3.3 -15% 39.4 3.3 27.3 26.8 15.8 9.3 2018 2021 Nuke Coal CCGT and Oil&Gas enel 89#912019-2021 Renewables#92Renewables Final Consolidated capacity (GW) enel Hydro Wind Geothermal Solar & Other Total 2018 2021 2018 2021 2018 2021 2018 2021 2018 2021 Italy 12.4 12.4 0.8 1.0 0.8 0.8 0.1 0.1 14.0 14.3 Iberia 4.8 4.8 1.7 2.6 - 0.0 1.1 6.5 8.4 South America 10.0 10.2 1.6 3.1 0.0 0.1 1.6 2.6 13.3 15.9 Europe and North Africa 0.0 - 0.7 1.1 0.1 0.1 0.9 1.3 North & Central America 0.6 0.6 2.9 5.8 0.1 0.3 0.5 3.8 7.0 Africa, Asia & Oceania 0.4 0.7 0.3 0.8 0.7 1.4 Total 27.8 28.1 8.2 14.2 0.8 0.9 2.4 5.2 39.2 48.4 91#93Renewables Consolidated capacity (GW) 39.2 27.8 +25% 48.4 28.1 14.2 8.2 08 2.4 2018 09 5.2 2021 Hydro Wind Geothermal Solar & Other enel 92#942019-2021 Infrastructure & Networks#95Infrastructure & Networks Electricity distributed, End users, Smart meters enel Electricity distributed (TW h) End users (mn) Smart meters (mn) 2018 2021 2018 2021 2018 2021 Italy 227.7 233.0 31.4 31.6 31.4 31.6 Iberia 124.7 119.0 12.2 12.4 11.6 12.3 South America 117.4 149.2 26.5 27.7 0.4 2.2 Europe and North Africa 15.6 16.4 2.9 3.0 0.5 0.9 Total 485.4 517.6 72.9 74.7 43.8 46.9 94#962019-2021 Retail#97Retail Power & gas customers and volumes1 enel Power Gas Customers (mn) Volumes (TWh) Customers (mn) Volumes (bsmc) 2018 2021 2018 2021 2018 2021 2018 2021 Italy 25.2 18.4 102.3 92.3 4.1 4.8 4.8 5.1 Iberia 10.8 10.9 89.6 105.7 1.6 1.9 6.4 6.3 South America 25.8 28.2 91.1 184.1 0.0 0.0 0.0 0.7 Europe and North Africa 3.0 4.1 10.4 13.3 0.0 0.3 0.0 0.4 Total 64.7 61.6 293.4 395.3 5.7 7.0 11.2 12.4 1. Net of "Salvaguardia" 96#98Retail Italian power market 2018 Customers (mn) Enel market share¹ 17,3 Enel market share² 36,9 4,3 40% 7,3 53% 12,9 19,6 2,9 16,7 Regulated 85% Free 49% Total Energy sold (TWh) enel Enel market share1 Enel market share² 237,8 289,1 25% 206,3 222,9 29,6 51,3 16,6 31,5 47% 66,2 34,8 Regulated 86% Free 28% Total Business Residential 1 Enel estimate based on closing 2018; % calculated on Total Italian Regulated Market 2 Enel estimate based on closing 2018; % calculated on Total Italian Free Market (not including Last Resort - "Salvaguardia")#99Retail Spanish power market 2018 Customers (mn) Enel 18.5 market share¹ 29.8 11.3 0.3 0.9 17.6 32% 30% 28.6 Energy sold (TWh) enel Enel 236.3 market share¹ 269.1 176.2 32% 178.4 11.0 32.8 60.1 31% 90.7 30.6 Regulated Free 44% 30% Total Regulated 43% Free 31% Total Business Residential 1. Internal estimates for Business and Residential Enel market share B2B B2C 98#1002019-2021 Enel Group#101Enel Group Old Plan Capex reconciliation (€bn) 24.6 Connections 3.3 4.1 enel 24.6 Customers Retail, Enel X (e-Home, e-Industries), Network connections 6.7 6.1 Maintenance 14.6 Growth 14.4 2018 2020 Old view 2018-2020 New view Asset management Investments for recurring asset maintenance Asset development Growth investments in renewables and networks (quality programs & smart metering) Enel X (e-Cities, e-Mobility) 100#102Enel Group Gross Capex (€bn) enel Global Generation Global Infrastructures Renewable Services Retail Enel X Total & Trading & NetworNs Energies & Other 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019 2020 2021 Italy 0.2 0.2 0.1 0.1 1.7 1.7 1.7 1.5 0.3 0.3 0.3 0.4 0.2 0.3 0.3 0.3 0.1 0.1 0.2 0.2 0.1 0.1 0.1 0.1 2.5 2.5 2.6 2.5 Iberia 0.3 0.4 0.5 0.5 0.7 0.7 0.6 0.6 0.2 0.7 0.5 0.5 0.1 0.1 0.1 0.1 0.0 0.1 0.1 0.1 0.0 . 1.4 2.0 1.7 1.8 South America 0.3 0.2 0.2 0.2 1.3 1.3 1.4 1.2 0.6 1.1 1.3 1.1 0.0 • . 0.0 0.1 0.1 0.1 0.0 2.2 2.8 3.0 2.6 Europe and North Africa 0.1 0.0 . 0.2 0.1 0.1 0.1 0.1 0.2 0.1 0.1 0.0 . 0.0 . 0.0 0.4 0.4 0.3 0.2 North & Central America 0.0 0.0 -.0 10 0.1 . - 1.7 1.7 1.2 1.1 . 0.0 0.1 0.1 1.7 1.8 1.2 1.2 Africa, Asia & Oceania • 0.0 . . . - 0.1 0.2 0.4 0.4 . . . . . 0.1 0.2 0.4 0.4 Other 0.0 0.0 . . 0.0 . 0.0 . . . 0.0 0.0 . (0.2) (0.1) 0.1 0.1 (0.3) (0.2) Total 0.8 0.8 0.8 0.8 3.8 3.8 3.8 3.5 3.2 4.2 3.8 3.5 0.4 0.5 0.4 0.4 0.2 0.4 0.4 0.4 0.1 0.1 (0.1) 8.5 9.8 9.1 8.6 Total Capex 2019-2021 2.5 11.1 11.6 1.3 1.1 (0.1) 27.5 101#103Enel Group Asset development capex (€bn) enel Global Generation & Trading Global Infrastructures Renewable Services Retail Enel X Total & NetworNs Energies & Other 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019 2020 2021 Italy 0.0 0.8 0.8 0.8 0.7 0.1 0.1 0.2 0.3 . 0.0 0.1 0.1 0.2 0.0 1.1 1.1 1.2 1.2 Iberia 0.0 0.1 0.2 222 0.3 0.3 0.2 0.3 0.2 0.7 0.5 0.4 0.0 . 0.0 0.5 1.0 0.8 0.9 South America 0.1 0.4 0.5 0.6 0.4 0.5 1.0 1.2 1.0 0.0 0.1 0.1 0.1 0.0 1.1 1.6 Europe and North Africa 0.0 0.0 0.1 0.1 0.2 0.1 0.1 0.0 0.2 0.3 North & Central America 0.0 0.0 0.1 1.7 1.7 1.2 1.1 0.0 1.7 1.7 Africa, Asia & Oceania 0.0 0.1 0.2 0.4 0.4 0.1 0.2 6372 1.9 1.4 0.2 0.1 1.2 1.2 0.4 0.4 Other (0.0) 0.0 0.0 0.0 0.0 (0.2) 0.0 0.1 (0.2) (0.1) Total 0.1 0.1 0.2 0.3 1.6 1.6 1.7 1.3 2.9 3.9 3.5 3.2 0.1 0.2 0.2 0.2 0.1 (0.1) 4.7 5.9 5.5 5.1 Total Capex 2019-2021 0.6 4.6 10.6 0.7 (0.1) 16.5 102#104Enel Group Asset management capex (€bn) enel Global Generation Global Infrastructures Renewable Services Retail Enel X Total & Trading & NetworNs Energies & Other 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019 2020 2021 Italy 0.1 0.1 0.1 0.1 0.5 0.4 0.4 0.4 0.1 0.1 0.1 0.1 0.0 0.7 0.7 0.7 0.6 Iberia 0.3 0.4 0.4 0.3 0.2 0.2 0.2 0.2 0.0 0.1 0.1 0.1 0.0 0.6 0.6 0.6 0.5 South America 0.2 0.2 0.1 0.1 0.4 0.4 0.4 0.4 0.1 0.1 0.1 0.1 . 0.0 0.7 0.7 0.6 0.6 Europe and North Africa 0.1 0.0 . 0.0 0.0 0.0 . - 0.1 0.1 0.1 0.1 . North & Central America 0.0 0.0 . . 0.0 0.0 . 0.0 0.0 0.0 . Africa, Asia & Oceania 0.0 . . 0.0 . 0.0 0.0 0.0 0.0 Other 0.0 0.0 . Total 0.7 0.7 0.6 Total Capex 2019-2021 0.5 1.9 . 0.0 - 0.0 1.1 1.1 1.0 1.0 0.3 0.3 0.3 0.3 3.2 0.9 0.0 0.1 0.1 0.0 - 0.1 0.1 0.0 0.0 00 0.0 2.3 2.3 2.0 20 1.9 0.2 6.2 103#105Enel Group Italy Iberia Customers capex South America Europe and North Africa North & Central America Africa, Asia & Oceania Other Total Total Capex 2019-2021 (€bn) enel Global Generation Global Infrastructures & Trading & NetworNs Renewable Energies 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019 0.4 0.4 0.4 0.4 0.2 0.2 0.2 0.2 . 0.4 0.4 0.4 0.4 0.1 Services Retail Enel X Total & Other 2020 2021 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019 2020 2021 0.2 0.3 0.3 0.1 0.1 0.1 33 0.3 0.0 0.7 0.7 0.7 0.7 0.1 0.0 0.1 0.1 0.1 0.3 0.4 0.3 0.4 0.0 0.0 0.4 0.5 0.5 0.5 0.0 0.0 . 0.1 0.1 0.1 0.1 . 0.0 0.1 0.0 0.1 0.0 • 0.0 (0.1) (0.1) 0.0 . (0.1) (0.1) 1.0 1.1 1.1 1.1 0.4 0.5 0.4 0.4 0.1 0.2 0.1 0.2 (0.1) (0.1) 1.5 1.7 1.6 1.6 3.3 1.3 0.5 (0.1) 4.8 104#106Enel Group Ordinary EBITDA enel Global Generation Global Infrastructures Renewable Services Retail Enel X Total & Trading & NetworNs Energies & Other 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019 2020 2021 Italy 0.0 0.1 0.2 0.2 3.6 3.7 3.7 3.6 1.2 1.2 1.3 1.4. 2.2 2.2 2.3 2.3 0.0 0.1 0.2 0.1 0.1 0.1 0.1 7.1 7.5 7.7 7.6 Iberia 0.4 0.6 0.6 0.7 2.0 2.0 1.9 1.9 0.4 0.4 0.5 0.5 0.7 0.5 0.6 0.7 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 3.6 3.6 3.7 3.9 South America 0.5 0.5 0.6 0.6 1.9 2.5 2.9 3.2 2.0 2.0 2.2 2.4. 0.3 0.3 0.3 0.1 0.1 0.1 0.1 (0.1) (0.1) (0.1) (0.1) 4.4 5.3 6.0 6.7 Europe and North Africa 0.2 0.1 0.2 0.1 0.2 0.1 0.2 0.2 0.1 0.1 0.2 0.2 00 0.0 0.1 0.1 0.1 0.0 . 0.0 . . 0.5 0.4 0.6 0.6 North & Central America (0.0) • - 0.7 0.8 0.8 0.8 . 0.0 • 0.1 (0.0) 0.7 0.7 0.9 1.0 Africa, Asia & Oceania . . 0.1 0.1 0.1 0.2 . (0.0) . . . 0.1 0.1 0.1 0.2 Other (0.0) 0.1 (0.0) . . 0.1 (0.1) (0.1) (0.1) - . (0.0) . (0.2) (0.1) (0.5) (0.5) (0.2) (0.2) (0.5) (0.5) Total 1.1 1.4 1.6 1.6 7.6 8.3 8.7 8.9 4.5 4.5 5.0 5.4 2.9 3.1 3.3 3.4 0.1 0.1 0.3 0.5 (0.1) (0.4) (0.4) 16.2 17.4 18.5 19.4 Total EBITDA 2019-2021 4.7 25.8 15.0 9.7 0.9 (0.8) 55.3 105#107Enel Group Baseload power price & production sold forward Italy (€/MWh) Iberia (€/MWh) Baseload price 2018 2019 2020 2021 61.3 56.9 56.2 55.1 57.3 56.5 55.0 55.4 enel Production sold forward 2018 2019 2020 2021 price % price % price % price % Italy (€/MWh)1 Iberia (€/MWh)1 46.0 100% 53.0 90% 58.7 25% 0% 67.5 100% 73.4 85% 78.1 40% 0% Brazil (USD/MWh) 60.2 100% 60.4 100% 61.9 100% 60.6 100% Chile (USD/MWh) 79.0 100% 79.3 100% 84.4 100% 84.2 100% Colombia (USD/MWh) 61.5 100% 65.9 100% 69.9 90% 74.0 60% Peru (USD/MWh) 49.1 100% 51.8 100% 52.6 100% 55.0 100% 1. Average hedged price; wholesale price for Italy, retail price for Spain. 106#108Enel Group Delivery on gas contract renegotiation Portfolio evolution (bcm, %) 30 1. Italy, Spain. Chile 2. Rest of the World Price review impact (€bn, %) 0.8 31 31 8% 14% 15% 19% 32% 41% 74% 26% 20% 19% 46% 34% 24% 26% 2019 2020 2021 Legacy - Oil linked 1 To be contracted/spot Legacy Other2 US LNG + TAP 2018-20 Old Already negotiated 0.5 33% 67% 2018-21 New To be negotiated enel 107#1092019-2021 Environmental Social and Governance annexes#110Agenda Our 2018 ESG delivery Our 2019-21 ESG targets Our ESG pillars and backbones Our commitment to Sustainable Development Goals Growth across low carbon technologies and services Operational improvement for a better service Engaging local communities Engaging the people we work with Digitalization and cyber security Innovation boost Our Corporate governance enel 109#111Our 2018 ESG delivery#112ESG delivery 13 CUMATE ACTION 12 EDELL Our commitment to low carbon growth 15 11 S AND COMMUNITED 16 17 PARTNERSHIPS FOR THE GOALS 1 SUSTAINABLE DEVELOPMENT GOALS A 10 STRY ANDVATION 8CENT WORK AND GROWTH AND INFRASTRUCTURE Wo QUALITY EDUCATION GENDER 5 EQUALITY Plan actions - 2018-2020 2018 enel 43.4 GW renewable capacity1 Development of renewable capacity and reduction of thermal capacity fin 46.4 GW thermal capacity Implementation of environmental international best practices to selected coal plants 82 €mn of investments for environmental retrofit Reduction of CO2 specific emissions 0.356 kg/kWheq (-23% vs 2007) 2 6.2 GW demand response Electrification, storage & demand response 1. Includes managed capacity for 4.2 GW -2 2. Includes managed production. Considering only consolidated production, CO2 specific emissions are equal to 0.369 kg/kWheq 3.0 MW/yr storage 111#113ESG delivery 13 14 Assets optimization and innovation enel Plan actions - 2018-2020 2018 15 16 17 PARTNERSHIPS FOR THE GOALS 1 SSS QUALITY EDUCATION 12 SANBLE SUSTAINABLE DEVELOPMENT GOALS GENDER 5 EQUALITY 12 1. 2. 11 田 10 QSTRY MOTION ANTINFRASTRUCTURE GLEAN ENERGY Public and private charging points installed Includes replacement of smart meters Large scale infrastructure innovation 49k charging points1 mostly in grid digitization, smart meters and charging points • 43.8 mn smart meters² Foster global partnerships and 'high potential' startups to reap new technologies and ways to 'service' energy 15 projects with startups in deployment in the business 2 new Innovation Hubs (Catania, Pisa) 112#114ESG delivery 14 Engaging local communities 15 16 17 PARTNERSS FOR THE GOALS 1 2 3 AND WELL BLIND 13 COMATE 12 L AMI FRICTION SUSTAINABLE DEVELOPMENT GOALS GENDER 12 1. 2. 10 DES RECENT WORK AND ECONOMIC GROWTH CATAN THERE Plan actions - 2018-2020 20181 enel High-quality, inclusive and fair education 1.0 mn beneficiaries AQUALITY EDUCATION EQUALITY Access to affordable and clean energy, mainly in Africa, Asia and Latin America 3.3 mn beneficiaries² Employment and sustainable and inclusive economic growth 1.8 mn beneficiaries Cumulated figures since 2015 In the whole Group perimeter, 6.3 mn beneficiaries were reached 113#115ESG delivery 14 13 ACTEN 12 DONDEL Engaging people we work with 11 田 15 Plan actions - 2018-2020 2018 enel 1 17 PARTNERSHIPS 17 FOR THE GOALS 1 • 2 SSS Appraise performance of people we work with1 100% of people involved • 3 99% of people appraised W 4 QUALITY EDUCATION . 100% of people involved SUSTAINABLE DEVELOPMENT Climate corporate survey1 GENDER GOALS 5 EQUALITY 86% of people participating 10 INQUALITIES ENOMIC GROWTH M Global implementation of the diversity and inclusion policy 39% women involved in recruiting processes Enable digital skills diffusion among people we work with 35% of people involved in digital skills training 1. Eligible and reachable people having worked in the Group for at least 3 months 114#116ESG delivery 13 14 12 RESPONSIBLE CONSUMPTION AND PRODUCTION Digitalization and cyber security 15 AND COMMENTER A 16 17 FARMERS 1 Plan actions - 2018-2020 2018 enel SUSTAINABLE DEVELOPMENT GOALS 10 T QSTRY MOTION ANTINFRASTRUCTURE SSS AAD WILL Wo QUALITY EDUCATION GENDER 5 EQUALITY Single strategy approach based on business risk management Business lines involved in key processes: risk assessment, response and recovery criteria definition and prioritization of actions Integrated information systems (IT), industrial systems (OT) and Internet of Things (IoT) assessment and management 'Cyber security by design' to define and spread secure system development standards 89% of internet web applications protected through advanced cyber security solutions Enel's CERT1 acknowledgement in deployment in 8 countries² of presence and affiliation with international organizations³ 15 cyber security knowledge sharing events held 1. 2. 123 Computer Emergency Response Team Italy, Spain, Romania, Argentina, Brazil, Peru, Colombia, Chile 3. First and Trust introducer 115#117Our 2019-21 ESG targets#118Our ESG pillars and backbones to capture opportunities from energy transition Decarbustomers Digitalization ili ENERGY TRANSITION ESG targets Urbanization Electrification Innovation boost Growth across low carbon technologies and services Operational improvement for a better service Engaging local communities Engaging the people we work with Occupational health & safety Sound governance Environmental sustainability Sustainable supply chain Econ. & financial value creation enel SUSTAINABLE LONG TERM VALUE CREATION 2015-2030 2015-2030 2015-2030 QUALITY EDUCATION AFFORDABLE AND 8 DECENT WORK AND ECONOMIC GROWTH 13 2030 2021 CLIMATE ACTION INDUSTRY. INNOVATION 9 AND INFRASTRUCTURE SUSTAINABLE CITIES 46.9 AND COMMUNITIES 10.0 8.0 0.23 5.4 455 2.5 High-quality, inclusive and fair education (mn beneficiaries) Access to affordable and clean energy (mn beneficiaries) Includes replacement of smart meters 1. 2. Public and private charging stations M Employment and sustainable and inclusive economic growth (mn beneficiaries) Reduction of CO2 specific emissions (kg/kWheq) Smart meters1 (mn) Digitalization capex (€bn) Charging points² (k)#119Cross boosts Pillars ESG targets Growth across low carbon Our commitment to Sustainable Development Goals Our targets are set across the board of the 17 UN SDGs ZERO NO POVERTY HUNGER GOOD HEALTH & WELL-BEING QUALITY GENDER EDUCATION EQUALITY CLEAN WATER & SANITATION AFFORDABLE & CLEAN ENERGY DECENT WORK & ECONOMIC GROWTH INDUSTRY, INNOVATION & INFRA- STRUCTURE REDUCED INEQUA- LITIES SUSTAINABLE CITIES & COMMUNITIES RESPONSIBLE CONSUMP■ TION & PRODUCTION CLIMATE ACTION LIFE BELOW WATER LIFE ON LAND technologies & services Operational improvement for a better service Engaging local communities Engaging the people we work with Occupational Health & Safety Sound governance Environmental sustainability Sustainable supply chain Economic and financial value creation Backbones Digitalization and innovation ene Public commitment with United Nations Att M 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 enei enei enei 118 enel PEACE, JUSTICE & STRONG INSTITUTIONS PARTNER- SHIPS FOR THE GOALS#120=2 1. 2. ESG targets Growth across low carbon technologies and services enel Plan actions Related targets/commitments 14 13 MATE ACTION 12 15 16 17 PARTNERSHIPS FOR THE GOALS 1PERTY SUSTAINABLE DEVELOPMENT GOALS 555 6 AND WELL BIND 4 QUALITY EDUCATION GENDER 5 EQUALITY Development of renewable capacity and reduction of thermal capacity in 2019-21 Implementation of environmental international best practices to selected coal plants Reduction of CO2 specific emissions +11.6 GW renewable capacity1 ili -7GW thermal capacity 340 €mn of investments for environmental retrofit in 2019-21 0.23 kg/kWheq in 20302 AND COMMUNITIES 10 QSTRYNOWTION AND INFRASTRUCTURE RECENT WORK AND ECONOMIC GROWTH M CLEAN ENERGY Innovation Includes managed capacity CO₂ specific emissions will be <0.345 kg/kWh in 2021 boost Electrification, storage & demand response 9.9 GW demand response 173 MW/yr storage New products and services and new power production technologies - Electric mobility; home and business solutions; marine energy; data valorization; integrated storage solutions 119#121ESG targets 13 14 12 RESPONDE Operational improvement for a better service Plan actions enel Related targets/commitments 15 AND COMMUNITIES 16 17 PARTNERSHIPS FOR THE GOALS 1 Every 2 SSS SUSTAINABLE DEVELOPMENT GOALS 6 10 TRYNOWATION AND INFRASTRUCTURE EXONOMIC GROWTH Σ 1. Includes replacement of smart meters 2. Public and private charging stations 3. Engineering and Construction 4. Operation and Maintenance 46.9 mn smart meters1 Wo AQUALITY EDUCATION GENDER 5 EQUALITY Large scale infrastructure innovation mostly in grid digitization, smart meters and charging stations 5.4 €bn digitalization capex in 2019-21 Innovation boost 455k charging stations² E&C and O&M 4 automation and loT applied to O&M - Generation assets flexibility and digitalization; networks efficiency; PV panels manufacturing automation; trading automation Customer centricity - New products and services co-creation and sales increase leveraging on cross countries synergies 120#122ESG targets 13 14 12 N Engaging local communities 15 田 10 16 17 FARMERS 1 SUSTAINABLE DEVELOPMENT GOALS RECENT WORK AND ECONOMIC GROWTH 1. Cumulated figures since 2015 2 AND WILL Wo AQUALITY EDUCATION Plan actions High-quality, inclusive and fair education enel Related targets/commitments¹ 2.5 mn beneficiaries in 20301 GENDER 5 EQUALITY Access to affordable and clean energy 10.0 mn beneficiaries in 20301 Employment and sustainable and inclusive economic growth 8.0 mn beneficiaries in 20301 121#123ESG targets 14 13 ACTEN 12 DONDEL Engaging people we work with Plan actions 11 田 15 1 17 PARTNERSHIPS 17 FOR THE GOALS 1 enel Related targets/commitments • 2 SSS Appraise performance of people we work with1 100% of people involved • 3 99% of people appraised W 4 QUALITY EDUCATION . 100% of people involved SUSTAINABLE DEVELOPMENT Climate corporate survey1 GENDER GOALS 5 EQUALITY 86% of people participating 10 INQUALITIES ENOMIC GROWTH M Global implementation of the diversity and inclusion policy Recruiting should ensure equal gender splitting of the candidates (c. 50%) Enable digital skills diffusion among people we work with 100% of people involved in digital skills training 1. Eligible and reachable people having worked in the Group for at least 3 months 122#12413 ESG targets 14 Cross boosts Digitalization and cyber security Plan actions 12 RESPONSIBLE CONSUMPTION AND PRODUCTION 15 AND COMMENTER A 16 10 17 FARMERS 1 SUSTAINABLE DEVELOPMENT GOALS QSTRY MOTION ANTINFRASTRUCTURE T 2 SSS AAD WILL Wo QUALITY EDUCATION GENDER 5 EQUALITY • Single strategy approach based on business risk management Business lines involved in key processes: risk assessment, response and recovery criteria definition and prioritization of actions Integrated information systems (IT), industrial systems (OT) and Internet of Things (IoT) assessment and management 'Cyber security by design' to define and spread secure system development standards enel Related targets/commitments 100% of internet web applications protected through advanced cyber security solutions 15 cyber security knowledge sharing events per year 123#125ESG targets 13 Cross boosts Innovation 16 17 PARTNERSHIPS FOR THE GOALS 1 Plan actions enel Related targets/commitments 14 12 SANBLE 15 SUSTAINABLE DEVELOPMENT GOALS SSS ARD WILL QUALITY EDUCATION GENDER 5 EQUALITY Innovation boost Bosting Group's innovation through a tools portfolio composed by innovation hub network, crowdsourcing platforms, intelligence, internal innovation communities active on forefront topics, internal entrepreneurship, innovation with startups and larger companies, suppliers, universities and research centers Implementation in the business of 60 projects with startups in 2019-21 Opening of a new Innovation Hub in 2019-21 11 田 10 QSTRYNOWTION AND INFRASTRUCTURE GLEAN ENERGY 124#126Our Corporate governance#127Corporate governance Corporate governance structure 78% BoD's composition 11% 11% ■ Executive ■ Non-executive ■Independent Shareholders' meeting Audit firm Board of Directors 1 (9 members²) Board of Statutory Auditors (3 members) enel Nomination and Compensation Committee Control and Risks Committee Related Parties Committee Corporate Governance and Sustainability Committee 1. Chairperson can be considered independent in accordance with TUF criteria 2. Out of which 3 directors drawn from minority slates 126#128Corporate governance Board composition enel BoD's members P. Grieco F. Starace A. Antoniozzi A. Bianchi C. Calari P. Girdinio A. Pera A. Svelto A. Taraborrelli Non ex (Chairperson) CGSC Executive (CEO and General Manager) Independent CGSC RPC Independent NCC RPC Independent NCC RPC Independent CRC NCC Independent CRC NCC Independent CRC RPC Independent CRC CGSC 1. BoD's Diversity¹ 67% 11% Age diversity 22% 33% Gender diversity 67% ■46-56 ■ 57-66 ■67-70 ■ Male ■ Female 11% 4 3 1 22% Office seniority Skill diversity 2 diversity 5 67% 5 ■4-6 years over 6 years ■1-3 years Data as of 22 March 2018 ■ Energy Engineering ■ Expertise in international environments ■Strategy and Finance ■ Cyber Security ■Legal 127#129Corporate 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#130Corporate governance Long-term variable remuneration1 Objective TSR2 ROACE4 CO2 emissions reduction Entry (50%) Target (100%) Over I (150%) Over II (280%) 5 Enel's TSR Enel's TSR from 90% to from 100% 50%3 100% of TSR Index to 110% of TSR Index Enel's TSR from 110% to 115% of TSR Index Enel's TSR > 115% of TSR Index enel Type of target Macro objective Market Performance 36.4% 37.5% 38.0% >38.6% Financial Profitability 40%3 10%³ ≤ 380 gCO2/KWheq6 ≤ 350 gCO2/KWheq6 ≤ 340 gCO2/KWheq6 ≤ 330 gCO2/KWheq6 ESG Environmental 1. 2. Long-Term Incentive Plan (LTI) 2018-2020. 30% payment (if any) in the 4th year. 70% payment (if any) in the 5th year (deferred payment) Average TSR Enel compared to average TSR EUROSTOXX Utilities Index-EMU. In case of negative absolute TSR of Enel, the incentive (if any) is reduced - on the basis of a regressive scale of the same negative percentage of the absolute TSR of Enel share, multiplied for a constant value equal to 1.5 3. (%) Weight in the variable remuneration 4. Cumulative for the period 2018-2020 5. For the CEO/General manager. 180% for the other beneficiaries of the LTI Plan 2018-2020 6. In 2020 129#131Disclaimer enel This presentation contains certain forward-looking statements that reflect the Company's management's current views with respect to future events and financial and operational performance of the Company and its subsidiaries. These forward-looking statements are based on Enel S.p.A.'s current expectations and projections about future events. Because these forward-looking statements are subject to risks and uncertainties, actual future results or performance may differ materially from those expressed in or implied by these statements due to any number of different factors, many of which are beyond the ability of Enel S.p.A. to control or estimate precisely, including changes in the regulatory environment, future market developments, fluctuations in the price and availability of fuel and other risks. You are cautioned not to place undue reliance on the forward-looking statements contained herein, which are made only as of the date of this presentation. Enel S.p.A. does not undertake any obligation to publicly release any updates or revisions to any forward-looking statements to reflect events or circumstances after the date of this presentation. The information contained in this presentation does not purport to be comprehensive and has not been independently verified by any independent third party. This presentation does not constitute a recommendation regarding the securities of the Company. This presentation does not contain an offer to sell or a solicitation of any offer to buy any securities issued by Enel S.p.A. or any of its subsidiaries. Pursuant to art. 154-bis, paragraph 2, of the Italian Unified Financial Act of February 24, 1998, the executive in charge of preparing the corporate accounting documents at Enel, Alberto De Paoli, declares that the accounting information contained herein correspond to document results, books and accounting records. 130#132Contact us enel enel Monica Girardi Head of Group Investor Relations Investor Relations team Federico Baroncelli Francisco Basauri Serena Carioti Alessia Di Ninno Federica Dori Fabrizio Ragnacci Federica Todaro Noemi Tomassi Emanuele Toppi Contacts Email [email protected] Phone +39 06 8305 7975 Channels e Website Enel.com e Mobile App Enel Investors Follow us f in O You Tube 131