Long-term Climate Strategy and Financial Performance

Grids: Capex, EBITDA evolution and value creation Capex by nature enel EBITDA evolution over 2022E-2025 (€bn) Connections Quality & Resiliency FY 2022 Pro forma1 42% 2023-25 47% ~15 €bn 11% 7.0 7.0 Digitalisation IRR-WACC SPREAD ~150 bps 1. Net of perimeter for 0.8 €bn and stewardship for 0.5 €bn +4% 0.1 0.1 0.2 (0.1) 7.3 EBITDA RAB 2022E pro forma1 WACC & Efficiency Regulation FX 2025 35

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