Enel — Capital/Financing Update 2026

May 19, 2026

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Informazione Regolamentata n. 0116-70-2026	Data/Ora Inizio Diffusione 19 Maggio 2026 19:00:09	Euronext Milan

Societa': ENEL

Utenza - referente: ENELN07 - Giannetti Davide

Tipologia: 2.2

Data/Ora Ricezione: 19 Maggio 2026 19:00:09

Oggetto: Enel has successfully launched a 2.5 billion euro bond in two tranches on the euro market

Testo del comunicato

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enel

PRESS RELEASE

International Press Office

T +39 06 8305 5699

ufficiostampa@enel.com

gnm@enel.com

enel.com

Investor Relations

T +39 06 8305 7975

investor.relations@enel.com

enel.com

THIS ANNOUNCEMENT CANNOT BE RELEASED, PUBLISHED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART IN OR INTO THE UNITED STATES OR TO ANY PERSON LOCATED, RESIDENT OR DOMICILED IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA (INCLUDING PUERTO RICO, THE US VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS) OR TO ANY PERSON LOCATED, RESIDENT OR DOMICILED IN JAPAN, SINGAPORE, OR IN ANY OTHER JURISDICTION WHERE THE DISTRIBUTION OF THIS PRESS RELEASE IS AGAINST THE LAW OR THE APPLICABLE REGULATIONS.

ENEL HAS SUCCESSFULLY LAUNCHED A 2.5 BILLION EURO BOND IN TWO TRANCHES ON THE EURO MARKET

• The size of the transaction, the demand and the economic conditions achieved confirm the market's recognition of the Enel Group's financial solidity and of the credibility of the 2026-2028 Strategic Plan

Rome, May 19th, 2026 – Enel S.p.A. (“Enel”)¹ has launched on the Eurobond market a bond in two tranches intended exclusively for qualified investors for a total of 2.5 billion euros.

Demand, equal to approximately 8.5 billion euros, with subscription requests being oversubscribed about 3.5 times, alongside the economic conditions achieved confirm the market's recognition of the Enel Group's financial solidity and of the credibility of the 2026-2028 Strategic Plan. The issuance has an average duration of around 5.5 years and an average coupon of 3.688%.

The proceeds from the issue are expected to be used in order to fund the Enel Group's ordinary financial needs.

The issuance is structured into the following two tranches, with a settlement date of May 26th, 2026:

• 1,250 million euros at a fixed interest rate of 3.500% and maturing on May 26th, 2030. The issue price has been set at 99.681% and the effective yield at maturity is equal to 3.587%;
• 1,250 million euros at a fixed interest rate of 3.875% and maturing on May 26th, 2033. The issue price has been set at 99.513% and the effective yield at maturity is equal to 3.956%.

The bonds are expected to be listed, at the time of issue, on the Euronext Dublin regulated market and on the regulated Electronic Bond Market (Mercato Telematico delle Obbligazioni, MOT) of Borsa Italiana, the Italian Stock Exchange.

¹ Enel Rating: BBB (Positive) by Standard & Poor's, Baa1 (Stable) by Moody's, and BBB+ (Stable) by Fitch.

Enel SpA – Registered Office: 00198 Rome – Italy - Viale Regina Margherita 137 – Companies Register of Rome and Tax I.D. 00811720580 - R.E.A. 756032 – VAT Code 15844561009 – Stock Capital Euro 10,166,679,946 fully paid-in.

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enel

The transaction has been supported by a syndicate of banks in which Banca Akros, BofA Securities, BNP Paribas, BPER, CaixaBank, Commerzbank, IMI-Intesa Sanpaolo, ING, J.P. Morgan, Mediobanca, Mizuho, Santander and SMBC acted as joint bookrunners.

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This press release (and the information contained herein) does not constitute, nor does it contain or form part of, and may not be construed as, an offer to sell or a solicitation of an offer to purchase any financial instruments in the United States of America (including its territories and possessions) or in any other jurisdiction where such offer is subject to restrictions or is prohibited, or where such offer to sell or solicitation of an offer to purchase would be unlawful. This press release does not constitute a prospectus or other offering document. No financial instruments have been or will be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or under any applicable securities laws of any state of the United States of America (including its territories and possessions) or any other jurisdiction. No financial instruments may be offered, sold, resold, transferred, distributed or delivered, directly or indirectly, in the United States of America or to, or for the account or benefit of, any "U.S. Person" (as defined in Regulation S under the Securities Act), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and any applicable U.S. state or other securities laws, or the securities laws of any other jurisdiction. Furthermore, no financial instruments may be offered, sold, resold, transferred, delivered or distributed (directly or indirectly) in any other jurisdiction where such actions would constitute a violation of applicable laws or would require the registration of any financial instrument in such jurisdiction. No public offering is being made in the United States of America or in any other jurisdiction where such offering is restricted or prohibited, or where such offering would be unlawful. Any public offering of securities in the United States of America would be made by means of a prospectus that may be obtained from the issuer and that would contain detailed information about the company, its organization and management, as well as its financial statements. The distribution of this press release may be restricted by applicable laws and regulations in certain jurisdictions. Persons physically present in those jurisdictions in which this press release is circulated, published or distributed (directly or indirectly) must inform themselves of and comply with such restrictions. In the member states of the European Economic Area, this press release is addressed exclusively to persons who qualify as "qualified investors" within the meaning of Regulation (EU) 2017/1129 (the "Prospectus Regulation"). In the United Kingdom, this press release is addressed exclusively to persons who qualify as "qualified investors" within the meaning of Regulation (EU) 2017/1129, as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018. This press release is also directed exclusively at (i) persons who are outside the United Kingdom, (ii) persons who fall within the definition of investment professionals under Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"), or (iii) high net worth entities and other persons to whom it may lawfully be communicated falling within Article 49(2) of the Order (all such persons together being referred to as the "Relevant Persons"). Any investment activity to which this press release relates will be available only to, and will be engaged in only with, Relevant Persons. Any person who is not a Relevant Person should not act on or rely on this press release. The documentation relating to the issuance of the securities has not been and will not be submitted for approval by the Italian National Commission for Companies and the Stock Exchange (Commissione Nazionale per le Società e la Borsa - "CONSOB") pursuant to applicable laws. Accordingly, the securities may not be offered, sold or distributed to the public in the Republic of Italy except to qualified investors, as defined in Article 2 of Regulation (EU) 2017/1129 (the "Prospectus Regulation"), and pursuant to any applicable law or regulation, or in other circumstances that are exempt from the public offering rules under Article 1 of the Prospectus Regulation, Article 100 of Legislative Decree No. 58 of 24 February 1998, Article 34-ter of CONSOB Regulation No. 11971 of 14 May 1999 (the "Issuers' Regulation"), as amended from time to time, or in other circumstances provided for under the Issuers' Regulation or the Prospectus Regulation, in each case in compliance with applicable laws and regulations or requirements imposed by CONSOB or other Italian laws.

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Fine Comunicato n.0116-70-2026	Numero di Pagine: 4