Long-term Climate Strategy and Financial Performance

Grids investments deliver RAB growth within stable enel regulatory frameworks Capex by geography 17% 2023-25 ~15 €bn 1. Net of M&A 83% RAB (€bn) 39 +5% 41 8 8 33 31 20221 2025 Europe Latam Regulatory frameworks Securing stable and visible returns Supporting throughout market disruptions Adapting to a changing environment 36

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