Enel

Investor Presentation • May 12, 2017

May 12, 2017

Highlights

EBITDA adjusted for one-offs stable YoY EBITDA +3% net of deconsolidation of Slovenske and JV in North America

Stable cash costs in nominal terms

CELG acquisition in Brazil completed +3 mn end-users and turn around strategy initiated

Larger customer base and higher volumes sold in Italian retail

Net ordinary income +19% on lower financial expenses and minorities

Financial highlights (€mn)

	1Q 2017	1Q 2016	∆ yoy	Adjusted
Revenues	19,366	17,872	+8%
Reported EBITDA	3,914	4.017	-3%
EBITDA1 Ordinary	3,763	3,871	-3%	Stable (4)
Reported EBIT	2,525	2,670	-5%
Ordinary EBIT	2,374	2,524	-6%
Reported Group net income	983	939	+5%
Group net ordinary income	943	795	+19%	+23% (5)
Capex2	1,453	1,650	-12%
Net debt	39,282	37,553 (3)	+4%
FFO	1,740	1,567	+11%

1. Excludes extraordinary items for 146 €mn in 1Q 2016 and for 151 €mn in 2017

2. 1. 1Q 2016 figure includes 103 €mn capex related to asset held for sale
3. 1. As of December 2016
4. 1. Excludes +19 €mn one-offs in 1Q 2016 and -73 €mn in 1Q 2017
5. 1. Excludes +16 €mn one-offs in 1Q 2016 and -16 €mn in 1Q 2017

Delivery on industrial strategic pillars

Operational efficiency (€mn)

Delivery on efficiency on track

1. In nominal terms. Adjusted figures net of one-offs for +60 €mn in 1Q 2017 related to personnel provisions for CELG

Operational efficiency: focus on opex

Opex evolution¹ Opex by business³

Efficiency counterbalancing growth and forex

1. Adjusted figure: excludes +60 €mn one-off in 1Q 2017

2. 1. Includes +77 €mn CPI effect and +50 €mn forex effect
3. 1. In nominal terms. Adjusted for delta perimeter 4. Excludes nuclear in Iberia

Industrial growth: operational targets by business

1. Includes only power and free gas customers

2. Free market + PPAs

3. Includes nuclear capacity 4. Includes production from renewable managed capacity

Industrial growth: capex

Total capex¹

(€mn) Growth capex by business line (€mn)

Further acceleration in networks growth

Industrial growth: focus on capex in execution

60% of growth capex already addressed, retaining flexibility within vast pipeline of projects

Industrial growth: focus on renewable capacity additions

Consolidated capacity additions (GW) 2017-19 BSO capacity additions (GW)

0.3 3.2 1.9 1.0 Drop down 1Q 2017 Projects in execution Residual target 2017-19 additions

Decreasing risk profile and pipeline monetization

Industrial growth: focus on renewable projects in execution

Projects in execution by expected COD (MW)

Example of a project under construction¹

Project	Red Dirt
Country	United States (Oklahoma)
Technology	Wind – 300 MW
Capex	USD 420 mn
Load factor	45%
COD	2017

1. Start construction communicated on April 18, 2017.

1Q 2017 consolidated results Financial results

Market context in the period (change yoy)

12

1. Based on the average exchange rate

2. As of May 11, 2017

1Q 2016 1Q 2017

17.1

1. Of which large hydro 26.4 GW for 1Q 2016 and 24.9 GW for 1Q 2017

2. Of which large hydro 12.5 TWh for 1Q 2016 and 11.8 TWh for 1Q 2017

3. Retail free power and gas customers

Ordinary EBITDA evolution (€mn)

1. Includes +19 €mn capital gain on Compostilla RE

2. Includes -60 €mn for personnel provisions for CELG, -33 €mn for penalties revaluation in Argentina, +20 €mn for islands settlement in Iberia

3. Relates mainly to Slovenske Elektrarne and North America JV deconsolidation

Adjusted EBITDA by business (€mn)

Adjusted EBITDA by geography (€mn)

Global Renewable Energies: ordinary EBITDA analysis (€mn)

1. Includes personnel provisions

2. Includes capital gain on transmission line in Peru

Italy: ordinary EBITDA analysis by business (€mn)

Italian retail market

Volumes and efficiencies drive EBITDA improvement

Double digit Group net income accretion

1. Includes other financial expenses (-202 €mn in 1Q 2016, -65 €mn in 1Q 2017) and results from equity investments (+35 €mn in 1Q 2016, +39 €mn in 1Q 2017)

Cash flow (€mn)

FFO growth mainly due to net working capital and net financial expenses improvement

1. Accruals, releases, utilizations of provisions in EBITDA (i.e. personnel related and risks and charges)

2. Includes dividends received from equity investments 3. Funds from operations

Net debt evolution (€mn)

Net debt evolution affected by acquisitions and interim dividends

Debt and financial expenses (€mn)

Financial expenses reduction in line with guidance

Italy 2017 30% 100% 35% 30% Expected production Hedged production Italy 2018 Spain 2017 Spain 2018 60% 38% Expected production 43 €/MWh Spread +4 €/MWh ² Price¹ Achieved 59 TWh 61 TWh 75 TWh 75 TWh Regulated / quasi regulated Regulated / quasi regulated 2% Spread driven Price driven Spread driven Price driven

Price¹

55 €/MWh

Achieved

Spread +3 €/MWh ²

1. Average hedged price. Wholesale price for Italy, Retail price for Spain.

100%

Hedged production

1. Average on clean spark spread and clean dark spread.

2. Includes only mainland production.

30%

Expected production

40%

30%

Regulated / quasi regulated

Price driven

Spread driven

Forward sales¹

Closing remarks

Continuous progress on all key strategic pillars

Operational efficiency on track

Very visible growth with 60% of 2017-19 growth capex already addressed

Group diversification ensures stable EBITDA growth High double digit net income accretion

FFO generation continues to improve

2017 financial targets confirmed

Annexes

From EBITDA to net income (€mn)

	1Q 2017 reported	1Q 2016 reported	∆ yoy	1Q 2017 ordinary	1Q 2016 ordinary	∆ yoy
EBITDA	3,914	4,017	-2.6%	3,763	3,871	-2.8%
D&A	1,389	1,347		1,389	1,347
EBIT	2,525	2,670	-5.4%	2,374	2,524	-5.9%
Net financial charges	(664)	(852)		(664)	(852)
Net income from equity investments using equity method	39	35		39	35
EBT	1,900	1,853	2.5%	1,749	1,707	2.5%
Income tax	(596)	(548)		(554)	(546)
Net income	1,304	1,305		1,195	1,161
Minorities	321	366		252	366
Group net income	983	939	4.7%	943	795	18.6%

Reported EBITDA matrix (€mn)

	Global Generation	& Trading		Global Infrastructures & Networks		Renewable Energies		Retail	Services	& Other	Total	Total
	1Q 2017	1Q 2016	1Q 2017	1Q 2016	1Q 2017	1Q 2016	1Q 2017	1Q 2016	1Q 2017	1Q 2016	1Q 2017	1Q 2016
Italy	156	196	863	889	280	281	641	560	19	21	1,959	1,947
Iberia	92	124	446	478	51	124	89	133	16	(16)	694	843
Latam	278	108	374	318	454	445	-	-	(19)	(22)	1,087	849
Argentina	15	22	43	30	8	6	-	-	-	-	66	58
Brazil	33	15	100	97	64	44	-	-	(9)	(7)	188	149
Chile	184	35	59	55	205	199	-	-	(2)	(5)	446	284
Colombia	9	(5)	119	86	143	154	-	-	-	-	271	235
Peru	37	41	53	50	32	40	-	-	-	-	122	131
Uruguay	-	-	-	-	2	2	-	-	(8)	(10)	(6)	(8)
Europe & North Africa	90	143	25	45	48	40	(20)	9	1	1	144	238
Romania	-	(2)	25	45	37	26	(20)	10	1	1	43	80
Russia	90	37	-	-	-	-	-	-	-	-	90	37
Slovakia	-	108	-	-	-	-	-	1	-	-	-	109
Other1	-	-	-	-	11	14	-	(2)	-	-	11	12
North & Central America2	-	-	-	-	113	180	-	-	-	-	113	180
Sub-Saharan Africa & Asia3	-	-	-	-	12	(2)	-	-	-	-	12	(2)
Other	(1)	(8)	1	3	(26)	(24)	-	-	(69)	(9)	(95)	(38)
Total	615	563	1,709	1,733	932	1,044	710	702	(52)	(25)	3,914	4,017

1. Includes Belgium, Greece, France, Bulgaria

2. Includes Mexico, USA, Panama, Canada, Guatemala, Costa Rica

Reported EBITDA matrix (€mn): new vs old perimeter

		Global Thermal Generation & Trading			Global Renewable Energies
		1Q 2017		1Q 2016	1Q 2017		1Q 2016
	Global Thermal Generation	Global Generation	Global Thermal Generation	Global Generation	Global Renewable Energies	EGP	Global Renewable Energies	EGP
Italy	156	279	196	305	280	157	281	172
Iberia	92	99	124	199	51	44	124	49
Latin America	278	647	108	504	454	85	445	49
Argentina	15	23	22	28	8	-	6	-
Brazil	33	66	15	42	64	31	44	17
Chile	184	335	35	203	205	54	199	31
Colombia	9	153	(5)	150	143	(1)	154	(1)
Peru	37	70	41	81	32	(1)	40	-
Uruguay	-	-	-	-	2	2	2	2
Europe & North Africa	90	90	143	143	48	48	40	40
Romania	-	-	(2)	(2)	37	37	26	26
Russia	90	90	37	37	-	-	-	-
Slovakia	-	-	108	108	-	-	-	-
Other1	-	-	-	-	11	11	14	14
North & Central America2	-	-	-	-	113	113	180	180
Sub-Saharan Africa & Asia3	-	-	-	-	12	12	(2)	(2)
Other	(1)	(1)	(8)	(6)	(26)	(26)	(24)	(26)
Total	615	1,114	563	1,145	932	433	1,044	462

1. Includes Belgium, Greece, France, Bulgaria

2. Includes Mexico, USA, Panama, Canada, Guatemala, Costa Rica

Ordinary¹EBITDA matrix (€mn)

		Global Thermal Generation & Trading	Global Infrastructures & Networks			Global Renewable Energies		Retail	Services	& Other	Total	Total
	1Q 2017	1Q 2016	1Q 2017	1Q 2016	1Q 2017	1Q 2016	1Q 2017	1Q 2016	1Q 2017	1Q 2016	1Q 2017	1Q 2016
Italy	156	50	863	889	280	281	641	560	19	21	1,959	1,801
Iberia	92	124	446	478	51	124	89	133	16	(16)	694	843
Latam	127	108	374	318	454	445	-	-	(19)	(22)	936	849
Argentina	15	22	43	30	8	6	-	-	-	-	66	58
Brazil	33	15	100	97	64	44	-	-	(9)	(7)	188	149
Chile	33	35	59	55	205	199	-	-	(2)	(5)	295	284
Colombia	9	(5)	119	86	143	154	-	-	-	-	271	235
Peru	37	41	53	50	32	40	-	-	-	-	122	131
Uruguay	-	-	-	-	2	2	-	-	(8)	(10)	(6)	(8)
Europe & North Africa	90	143	25	45	48	40	(20)	9	1	1	144	238
Romania	-	(2)	25	45	37	26	(20)	10	1	1	43	80
Russia	90	37	-	-	-	-	-	-	-	-	90	37
Slovakia	-	108	-	-	-	-	-	1	-	-	-	109
Other2	-	-	-	-	11	14	-	(2)	-	-	11	12
North & Central America3	-	-	-	-	113	180	-	-	-	-	113	180
Sub-Saharan Africa & Asia4	-	-	-	-	12	(2)	-	-	-	-	12	(2)
Other	(1)	(8)	1	3	(26)	(24)	-	-	(69)	(9)	(95)	(38)
Total	464	417	1,709	1,733	932	1,044	710	702	(52)	(25)	3,763	3,871

1. Excludes extraordinary items for +151 €mn in 2017 of Electrogas Chile capital gain and for +146 €mn in 2016 of Hydro Dolomiti capital gain

2. Includes Belgium, Greece, France, Bulgaria

3. Includes Mexico, USA, Panama, Canada, Guatemala, Costa Rica

Ordinary EBITDA matrix (€mn): new vs old perimeter

	Global Thermal Generation & Trading					Global Renewable Energies
		1Q 2017		1Q 2016	1Q 2017		1Q 2016
	Global Thermal Generation	Global Generation	Global Thermal Generation	Global Generation	Global Renewable Energies	EGP	Global Renewable Energies	EGP
Italy	156	279	50	159	280	157	281	172
Iberia	92	99	124	199	51	44	124	49
Latin America	127	496	108	504	454	85	445	49
Argentina	15	23	22	28	8	-	6	-
Brazil	33	66	15	42	64	31	44	17
Chile	33	184	35	203	205	54	199	31
Colombia	9	153	(5)	150	143	(1)	154	(1)
Peru	37	70	41	81	32	(1)	40	-
Uruguay	-	-	-	-	2	2	2	2
Europe & North Africa	90	90	143	143	48	48	40	40
Romania	-	-	(2)	(2)	37	37	26	26
Russia	90	90	37	37	-	-	-	-
Slovakia	-	-	108	108	-	-	-	-
Other1	-	-	-	-	11	11	14	14
North & Central America2	-	-	-	-	113	113	180	180
Sub-Saharan Africa & Asia3	-	-	-	-	12	12	(2)	(2)
Other	(1)	(1)	(8)	(6)	(26)	(26)	(24)	(26)
Total	464	963	417	999	932	433	1,044	462

1. Includes Belgium, Greece, France, Bulgaria

2. Includes Mexico, USA, Panama, Canada, Guatemala, Costa Rica

EBITDA from Reported to Adjusted: breakdown by geography (€mn)

1Q 2017	Italy	Iberia	Latam	Europe & North Africa	North & Central America	Sub-Saharan Africa & Asia	Other	Total
Reported	1,959	694	1,087	144	113	12	(95)	3,914
Extraordinary items	-	-	(151)	-	-	-	-	(151)
Ordinary	1,959	694	936	144	113	12	(95)	3,763
One-offs	-	(20)	93	-	-	-	-	73
Adjusted	1,959	674	1,029	144	113	12	(95)	3,836

1Q 2016	Italy	Iberia	Latam	Europe & North Africa	North & Central America	Sub-Saharan Africa & Asia	Other	Total
Reported	1,947	843	849	238	180	(2)	(38)	4,017
Extraordinary items	(146)	-	-	-	-	-	-	(146)
Ordinary	1,801	843	849	238	180	(2)	(38)	3,871
One-offs	-	-	-	-	-	-	(19)	(19)
Adjusted	1,801	843	849	238	180	(2)	(57)	3,852

EBITDA from Reported to Adjusted: breakdown by business line (€mn)

1Q 2017	Global Thermal Generation & Trading	Global Infrastructure & Networks	Global Renewable Energies	Retail	Services & Holding	Total
Reported	615	1,709	932	710	(52)	3,914
Extraordinary items	(151)	-	-	-	-	(151)
Ordinary	464	1,709	932	710	(52)	3,763
One-offs	(20)	93				73
Adjusted	444	1,802	932	710	(52)	3,836

1Q 2016	Global Thermal Generation & Trading	Global Infrastructure & Networks	Global Renewable Energies	Retail	Services & Holding	Total
Reported	563	1,733	1,044	702	(25)	4,017
Extraordinary items	(146)	-	-	-	-	(146)
Ordinary	417	1,733	1,044	702	(25)	3,871
One-offs	-	-	-	-	(19)	(19)
Adjusted	417	1,733	1,044	702	(44)	3,852

Operational efficiency: opex (€mn)

Forward sales Latam

Colombia

Brazil

Gross debt¹structure

Debt structure by instrument (€bn)

37

Debt maturity coverage split by typology (€bn)

1. Of which 13.8 €bn of long term committed credit lines with maturities beyond March 2018

2. Includes commercial paper

Balance sheet (€mn)

Balance sheet structure (€mn)

Italy (€mn)

	Revenues				EBITDA		EBIT
	1Q 2017	1Q 2016	yoy	1Q 2017	1Q 2016	yoy	1Q 2017	1Q 2016	yoy
Thermal Generation and Trading	5,275	4,998	6%	156	196	-20%	98	136	-28%
Infrastructure & Networks	1,863	1,759	6%	863	889	-3%	601	640	-6%
Retail	4,648	4,185	11%	641	560	14%	496	414	20%
Renewables	471	456	3%	280	281	0%	213	212	0%
Services and Other	(1,964)	(2,016)	-3%	19	21	-10%	8	8	0%
Total	10,293	9,382	10%	1,959	1,947	1%	1,416	1,410	0%

	1Q 2017	1Q 2016	yoy
CAPEX	314	346	-9%
1 Headcount	29,876	29,321	2%

Iberia (€mn)

	Revenues			EBITDA			EBIT
	1Q 2017	1Q 2016	yoy	1Q 2017	1Q 2016	yoy	1Q 2017	1Q 2016	yoy
Thermal Generation and Trading	1,297	1,060	22%	92	124	-26%	(65)	(63)	3%
Infrastructure & Networks	624	621	0%	446	478	-7%	276	293	-6%
Retail	4,245	3,551	20%	89	133	-33%	51	108	-53%
Renewables	153	179	-15%	51	124	-59%	6	89	-93%
Services and Other	(1,109)	(643)	72%	16	(16)	-200%	10	(18)	-156%
Total	5,210	4,768	9%	694	843	-18%	278	409	-32%

	1Q 2017	1Q 2016	yoy
CAPEX	144	177	-19%
1 Headcount	9,864	9,695	2%

Latam (€mn)

	Revenues				EBITDA		EBIT
	1Q 2017	1Q 2016	yoy	1Q 2017	1Q 2016	yoy	1Q 2017	1Q 2016	yoy
Thermal Generation and Trading	679	678	0%	278	108	157%	216	28	671%
Infrastructure & Networks	1,883	1,273	48%	374	318	18%	194	196	-1%
Renewables	672	549	22%	454	445	2%	384	419	-8%
Services and Other	13	13	-	(19)	(22)	-	(19)	(26)	-
Total	3,247	2,513	29%	1,087	849	28%	775	617	26%

	1Q 2017	1Q 2016	yoy
CAPEX	566	603	-6%
1 Headcount	14,425	12,979	11%

Argentina (€mn)

	Revenues			EBITDA		EBIT
	1Q 2017	1Q 2016	yoy	1Q 2017	1Q 2016	yoy	1Q 2017	1Q 2016	yoy
Thermal Generation and Trading	38	68	-44%	15	22	-32%	2	12	-83%
Infrastructure & Networks	316	188	68%	43	30	43%	32	25	28%
Renewables	11	9	22%	8	6	33%	7	6	17%
Services and Other	-	(1)	-	-	-	-	1	1	-
Total	365	264	38%	66	58	14%	42	44	-5%

	1Q 2017	1Q 2016	yoy
Thermal Generation	9.3	13.6	-32%
Renewables	17.3	13.4	+30%
Distribution	28.5	23.4	+22%

Brazil (€mn)

	Revenues			EBITDA			EBIT
	1Q 2017	1Q 2016	yoy	1Q 2017	1Q 2016	yoy	1Q 2017	1Q 2016	yoy
Thermal Generation and Trading	60	42	43%	33	15	120%	31	13	138%
Infrastructure & Networks	809	405	100%	100	97	3%	(12)	23	-152%
Renewables	127	73	74%	64	44	45%	54	39	38%
Services and Other	(1)	-	-	(9)	(7)	-	(10)	(8)	-
Total	995	520	91%	188	149	26%	63	67	-6%

	1Q 2017	1Q 2016	yoy
Thermal Generation	62.8	30.2	+108%
Renewables	72.3	74.4	-3%
Distribution	36.9	29.2	+26%

Chile (€mn)

	Revenues			EBITDA			EBIT
	1Q 2017	1Q 2016	yoy	1Q 2017	1Q 2016	yoy	1Q 2017	1Q 2016	yoy
Thermal Generation and Trading	443	319	39%	184	35	426%	152	(2)	-7700%
Infrastructure & Networks	301	280	8%	59	55	7%	45	44	2%
Renewables	265	247	7%	205	199	3%	169	181	-7%
Services and Other	15	2	-	(2)	(5)	-	(2)	(6)	-
Total	1,024	848	21%	446	284	57%	364	217	68%

	1Q 2017	1Q 2016	yoy
Thermal Generation	27.0	27.8	-3%
Renewables	82.7	75.2	+10%
Distribution	23.7	21.2	+12%

Colombia (€mn)

	Revenues			EBITDA			EBIT
	1Q 2017	1Q 2016	yoy	1Q 2017	1Q 2016	yoy	1Q 2017	1Q 2016	yoy
Thermal Generation and Trading	19	130	-85%	9	(5)	-280%	4	(21)	-119%
Infrastructure & Networks	297	243	22%	119	86	38%	93	68	37%
Renewables	226	170	33%	143	154	-7%	128	154	-17%
Services and Other	1	-	-	-	-	-	-	-	-
Total	543	543	0%	271	235	15%	225	201	12%

	1Q 2017	1Q 2016	yoy
Thermal Generation	191.3	0.5	n.m.
Renewables	41.9	64.7	-35%
Distribution	45.6	33.2	+37%

Peru (€mn)

	Revenues			EBITDA			EBIT
	1Q 2017	1Q 2016	yoy	1Q 2017	1Q 2016	yoy	1Q 2017	1Q 2016	yoy
Thermal Generation and Trading	119	119	0%	37	41	-10%	27	26	4%
Infrastructure & Networks	160	157	2%	53	50	6%	36	36	0%
Renewables	41	48	-15%	32	40	-20%	25	38	-34%
Services and Other	1	-	-	-	-	-	-	-	-
Total	321	324	-1%	122	131	-7%	88	100	-12%

	1Q 2017	1Q 2016	yoy
Thermal Generation	86.2	47.9	+80%
Renewables	29.8	37.4	-20%
Distribution	32.5	32.4	+0.4%

Europe & North Africa (€mn)

	Revenues		EBITDA			EBIT
	1Q 2017	1Q 2016	yoy	1Q 2017	1Q 2016	yoy	1Q 2017	1Q 2016	yoy
Romania	304	277	10%	43	80	-46%	8	50	-84%
Russia	314	213	47%	90	37	143%	75	27	178%
Slovakia	-	604	-100%	-	109	-100%	-	85	-100%
Other	24	119	-80%	11	12	-8%	8	7	14%
Total	642	1,213	-47%	144	238	-39%	91	169	-46%

	1Q 2017	1Q 2016	yoy
CAPEX	41	50	-18%
1 Headcount	5,885	5,858	0%

Other countries (€mn)

	Revenues			EBITDA			EBIT
	1Q 2017	1Q 2016	yoy	1Q 2017	1Q 2016	yoy	1Q 2017	1Q 2016	yoy
North & Central America	177	244	-27%	113	180	-37%	62	119	-48%
North America	85	170	-50%	47	128	-63%	21	82	-74%
Mexico	38	27	41%	27	20	35%	13	10	30%
Panama	38	35	9%	29	26	12%	26	23	13%
Other	16	12	33%	10	6	67%	2	4	-50%
Sub Saharian Africa & Asia	21	3	600%	12	(2)	-700%	2	(3)	-167%
Total	198	247	-20%	125	178	-30%	64	116	-45%

North & Central America	1Q 2017	1Q 2016	yoy
CAPEX	380	277	37%
1 Headcount	934	891	5%

Sub Saharian Africa & Asia	1Q 2017	1Q 2016	yoy
CAPEX	8	89	-91%
1 Headcount	193	185	4%

1. For year 2016 data as of December 2016

Capex by country¹ (€mn)

1. Includes upstream gas and other

2. 1Q 2016 figure includes 103 €mn related to assets held for sale

Operational highlights: Generation

Operational highlights: Distribution

Group total net installed capacity: breakdown by technology and geography

MW	Hydro1	Wind	Geothermal	Solar & Other	Nuke	Coal	CCGT	Oil&Gas ST/OCGT	TOTAL
Italy	12,415	718	761	97	-	6,478	4,535	2,739	27,742
Iberia	4,764	1,618	-	14	3,318	5,168	5,445	2,417	22,744
Latam	9,600	1,092	-	504	-	835	4,240	2,652	18,922
Argentina	1,328	-	-	-	-	-	1,922	1,169	4,419
Brazil	890	400	-	12	-	-	319	-	1,621
Chile	3,548	642	-	492	-	611	1,532	609	7,434
Colombia	3,056	-	-	-	-	224	-	187	3,467
Peru	778	-	-	-	-	-	467	686	1,932
Uruguay	-	50	-	-	-	-	-	-	50
Europa & North Africa	19	741	-	106	-	3,623	809	4,447	9,744
Romania	-	498	-	36	-	-	-	-	534
Russia	-	-	-	-	-	3,623	809	4,447	8,878
Slovakia	-	-	-	-	-	-	-	-	-
Other2	19	242	-	71	-	-	-	-	332
North/Central Americas	631	2,018	-	173	-	-	-	-	2,822
Mexico	53	675	-	0	-	-	-	-	728
Panama	300	-	-	54	-	-	-	-	354
USA	34	1,267	-	119	-	-	-	-	1,420
Other3	245	76	-	-	-	-	-	-	321
Africa Subsahariana & Asia4	-	371	-	323	-	-	-	-	695
Total	27,429	6,558	761	1,218	3,318	16,103	15,028	12,254	82,670

1. Includes 24,890 MW of Large Hydro (10,895 MW in Italy, 4,721 MW in Iberia, 9,273 MW in Latam)

2. Includes Belgium, Greece, France, Bulgaria

3. Includes Canada, Guatemala, Costa Rica

Group total net production: breakdown by technology and geography

GWh	Hydro1	Wind	Geothermal	Solar & Other	Nuke	Coal	CCGT	Oil&Gas ST/OCGT	TOTAL
Italy	3,367	352	1,451	30	-	6,826	1,967	224	14,218
Iberia	1,512	960	-	5	7,184	5,723	1,992	1,603	18,980
Latam	8,581	658	-	289	-	899	5,050	1,104	16,581
Argentina	580	-	-	-	-	-	2,856	719	4,155
Brazil	831	245	-	4	-	-	580	-	1,660
Chile	2,187	377	-	285	-	835	1,220	192	5,096
Colombia	3,694	-	-	-	-	64	-	22	3,780
Peru	1,289	-	-	-	-	-	394	170	1,853
Uruguay	-	36	-	-	-	-	-	-	36
Europa & North Africa	14	536	-	27	-	4,760	1,606	3,747	10,689
Romania	-	402	-	8	-	-	-	-	410
Russia	-	-	-	-	-	4,760	1,606	3,747	10,113
Slovakia	-	-	-	-	-	-	-	-	-
Other2	14	134	-	19	-	-	-	-	166
North/Central Americas	661	1,849	-	15	-	-	-	-	2,525
Mexico	46	558	-	0	-	-	-	-	604
Panama	440	-	-	11	-	-	-	-	450
USA	21	1,229	-	5	-	-	-	-	1,255
Other3	154	62	-	-	-	-	-	-	216
Africa Subsahariana & Asia4	-	143	-	158	-	-	-	-	301
Total	14,135	4,498	1,451	523	7,184	18,209	10,616	6,677	63,293

1. Includes 11,774 GWh of Large Hydro (2,256 GWh in Italy, 1,483 GWh in Iberia, 8,035 GWh in Latam)

2. Includes Belgium, Greece, Bulgaria

3. Includes Canada, Guatemala, Costa Rica

Group total additional capacity: breakdown by technology and geography

MW	Hydro1	Wind	Geothermal	Solar & Other	Nuke	Coal	CCGT	Oil&Gas ST/OCGT	TOTAL
Italy	-	-	-	1	-	-	-	-	1
Iberia	-	-	-	-	-	-	-	-	-
Latam	-	-	-	-	-	-	-	-	-
Argentina	-	-	-	-	-	-	-	-	-
Brazil	-	-	-	-	-	-	-	-	-
Chile	-	-	-	-	-	-	-	-	-
Colombia	-	-	-	-	-	-	-	-	-
Perù	-	-	-	-	-	-	-	-	-
Uruguay	-	-	-	-	-	-	-	-	-
Europa & North Africa	-	-	-	-	-	-	-	-	-
Romania	-	-	-	-	-	-	-	-	-
Russia	-	-	-	-	-	-	-	-	-
Slovakia	-	-	-	-	-	-	-	-	-
Other2	-	-	-	-	-	-	-	-	-
North/Central Americas	-	-	-	29	-	-	-	-	29
Mexico	-	-	-	-	-	-	-	-	-
Panama	-	-	-	29	-	-	-	-	29
USA	-	-	-	-	-	-	-	-	-
Other3	-	-	-	-	-	-	-	-	-
Africa Subsahariana & Asia4	-	36	-	-	-	-	-	-	36
Total	-	36	-	30	-	-	-	-	66

1. Of which 0 MW of Large Hydro

2. Includes Belgium, Greece and Bulgaria

3. Includes Canada, Guatemala, Costa Rica

Renewable projects in execution: breakdown by technology and geography1,2

MW	Wind	Hydro	Geothermal	Solar	Biomass	Total
Italy	-	24	4	-	0	29
Iberia	-	6	-	-	-	6
Latam	568	174	41	987	-	1,770
Europe & North Africa	154	-	-	-	-	154
North & Central America	1,095	-	-	1,024	-	2,119
Sub-Saharan Africa & Asia	705	-	-	34	-	739
Total	2,522	204	45	2,045	0	4,816

Renewable projects under construction : breakdown by technology and geography1,2

MW	Wind	Hydro	Geothermal	Solar	Biomass	Total
Italy		4			0	4
Iberia						-
Latam	568	170	41	987		1,766
Europe & North Africa						-
North & Central America	796			1,024		1,820
Sub-Saharan Africa & Asia						-
Total	1,364	174	41	2,011	0	3,590

Renewable projects ready to build : breakdown by technology and geography1,2

Global Renewable Energies gross pipeline¹

Disclaimer

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.

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