Enel

Investor Presentation • Nov 10, 2016

November 10, 2016

Opening remarks

EBITDA +8% net of forex and on a like-for-like basis Double digit growth of net ordinary income on a like-for-like basis

Positive contribution from all regions and solid growth in retail

EBITDA cash conversion from 40% to 60% Funds From Operation up +30% YoY

Net debt reduction ahead of year end guidance

Reintroducing interim dividend payment from January 2017 on 2016 net ordinary income

Financial highlights (€mn)

	9M 2016	9M 2015	∆ yoy	Like-for-like
Revenues	51,459	55,998	-8%
Reported EBITDA	12,010	12,161	-1%
EBITDA1 Ordinary	11,896	11,888	+0%	+4% (5)
Reported EBIT	7,689	6,308	+22%
Ordinary EBIT	7,666	7,640	+0%
Reported Group net income	2,757	2,089	+32%
Group net ordinary income	2,700	2,641	+2%	+10% (6)
Capex2	5,504	5,080	+9%
Net debt3	36,821	37,545 (4)	-2%
FFO	6,766	5,199	+30%

• 1. Excludes extraordinary items 9M 2016: +124 €mn Hydro Dolomiti capital gain , -18 €mn depreciation Curibamba (Peru); +171 €mn capital gain Quintero (Chile), -163 €mn depreciation El Puelo (Chile). 9M 2015: +141 €mn SE Hydropower capital gain and +132 €mn 3Sun
• 1. Includes capex related to assets held for sale related to Slovenské Elektrárne for 283 €mn and Upstream gas for 5 €mn in 9M 2016 and 401 €mn in 9M 2015
• 1. FY 2015: net of assets held for sale (841 €mn mainly for Slovenské Elektrárne). 9M 2016: net of assets held for sale (4 €mn)
• 1. As of December 31, 2015 5. Excludes +823 €mn one-offs in 2015 and +399 €mn in 2016 6. Excludes +441 €mn one-offs in 2015 and +274 €mn in 2016

New organization structure

New geographic dimension and enlarged renewable business lines

3

Market context in the period (change yoy)

1. As of November 09, 2016

Operational highlights

• 1. Of which large hydro 26.4 GW for FY15 and 24.8 GW for 9M16
• 1. Of which large hydro 42.9 TWh for 9M15 and 39.4 TWh for 9M16
• 1. Retail customers in Italy and Iberia (free power and gas market)

Operational highlights – Generation

6

Operational highlights – Distribution

Ordinary EBITDA evolution (€mn)

• 1. Includes: +176 €mn CO2 swap transaction in Iberia generation, +48 €mn in distrubution in Argentina, -24 €mn bad weather extra costs in distribution In Italy; +23 €mn Ecotax Almaraz, +550 €mn release of provision in Slovenske Electrarne and +50 €mn other
• 1. Includes delta perimeter for 46 €mn due to Slovenske Electrarne deconsolidation

^3. Includes: Gas price review in Italy +311 €mn, +78 €mn Ecotax in Iberia generation, +28 €mn provision release and +19 €mn capital gain on Compostilla RE in Iberia, -37 €mn other

Group adjusted EBITDA by business (€mn)

1. Of which 1,351 €mn EGP old perimeter

Global Renewable Energies: ordinary EBITDA analysis (€mn)

Group adjusted EBITDA by geography (€mn)

1. Of which EGP old perimeter: 571 €mn Italy, 181 €mn Iberia, 96 €mn Latam, 99 €mn Europe & North Afr., 435 €mn North Am. & Central Am., -7 €mn Africa Subsah..

2. Of which EGP old perimeter: 470 €mn Italy, 157 €mn Iberia, 189 €mn Latam, 95 €mn Europe & North Afr., 470 €mn North Am. & Central Am., 7 €mn Africa Subsah..

EBITDA Italy by business (€mn)

• 1. Of which 571 €mn EGP old perimeter
• 1. Bad weather extra costs in distribution
• 1. Gas price review in Italy
• 1. Of which 470 €mn EGP old perimeter

Double digit net income accretion on a like-for-like basis

1. Includes other financial expenses (-271 €mn in 2016, -26 €mn in 2015) and results from equity investments (+67 €mn in 2016, +36 €mn in 2015)

Cash flow (€mn)

EBITDA cash conversion⁵ moved to ca. 60% from ca. 40%

1. Accruals, releases, utilizations of provisions in EBITDA (i.e. personnel related and risks and charges). It includes bad debt provision accruals equal to 542 €mn

2. Includes dividends received from equity investments;

3. Funds from operations after working capital change

4. Includes SE that recorded a negative net free cash flow for -214€mn 5. EBITDA cash conversion equal to FFO/ordinary EBITDA

Net debt evolution (€mn)

Net debt better than year-end target

1. Net debt of assets held for sale: -841 €mn on 31 Dec. 2015 and 4 €mn on 30 Sep. 2016

Debt and financial expenses (€mn)

Executed liability management underpins future financial expenses reduction

Forward sales¹

Italy 2017

1. Includes renewable production

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

3. Average on clean spark spread and clean dark spread

Hedged production

17

1. Includes only mainland production

Closing remarks

New organization and reporting in place

Latam EBITDA contribution up by 31% on a like-for-like basis Positive EBITDA contribution from Italy and Iberia driven by retail

Enhanced cash flow generation and net debt below year end guidance

EBITDA cash conversion improved from 40% to 60%

New interim dividend policy established

Investor presentation

9M 2016 consolidated results Annexes

From EBITDA to net income (€mn)

	9M 2016 reported	9M 2015 reported	∆ yoy	9M 2016 ordinary	9M 2015 ordinary	∆ yoy
EBITDA	12,010	12,161	-1.2%	11,896	11,888	0.1%
D&A	4,321	5,853		4,230	4,248
EBIT	7,689	6,308	21.9%	7,666	7,640	0.3%
Net financial charges	(2,177)	(1,998)		(2,177)	(1,998)
Net income from equity investments using equity method	67	36		67	36
EBT	5,579	4,346	28.4%	5,556	5,678	-2.1%
Income tax	(1,705)	(1,424)		(1,737)	(1,745)
Net income	3,874	2,922		3,819	3,933
Minorities	1,117	833		1,119	1,292
Group net income	2,757	2,089	32.0%	2,700	2,641	2.2%

Reported EBITDA matrix (€mn)

	Generation & Trading	Global Thermal		Global Infrastructures & Networks	Global Renewable	Energies		Retail	Services	& Other	Total	Total
	9M 2016	9M 2015	9M 2016	9M 2015	9M 2016	9M 2015	9M 2016	9M 2015	9M 2016	9M 2015	9M 2016	9M 2016
Italy	524	276	2,670	2,726	797	1,179	1,373	971	81	114	5,445	5,266
Iberia	668	730	1,393	1,362	308	347	592	477	9	62	2,970	2,978
Latam	564	224	1,042	1,035	1,082	1,182	-	-	(76)	(53)	2,612	2,388
Argentina	61	48	123	97	19	27	-	-	-	-	203	172
Brazil	55	35	292	300	144	113	-	-	(25)	(24)	466	424
Chile	350	2	186	187	405	509	-	-	(16)	1	925	699
Colombia	30	32	296	310	421	424	-	-	-	-	747	766
Peru	68	107	145	141	87	110	-	-	-	-	300	358
Other1	-	-	-	-	6	(1)	-	-	(35)	(30)	(29)	(31)
Europe & North Africa	309	913	173	200	95	98	31	17	1	2	609	1,230
Romania	4	-	173	200	55	60	33	19	1	2	266	281
Russia	126	119	-	-	-	-	-	-	-	-	126	119
Slovakia	191	790	-	-	-	-	-	(1)	-	-	191	789
Other2	(12)	4	-	-	40	38	(2)	(1)	-	-	26	41
North & Central America3	-	-	-	-	470	435	-	-	-	-	470	435
Sub-Saharan Africa & Asia4	-	-	-	-	7	(7)	-	-	-	-	7	(7)
Other	(26)	(12)	-	-	(37)	(36)	-	-	(40)	(81)	(103)	(129)
Total	2,039	2,131	5,278	5,323	2,722	3,198	1,996	1,465	(25)	44	12,010	12,161

1. Includes Uruguay and other

2. Includes Belgium, Greece, France, Bulgaria

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

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

		Global Thermal Generation & Trading			Global Renewable Energies
		9M2016		9M 2015		9M 2016		9M 2015
	New perimeter	Old perimeter	New perimeter	Old perimeter	New perimeter	Old perimeter	New perimeter	Old perimeter
Italy	524	851	276	752	797	470	1,179	703
Iberia	668	819	730	896	308	157	347	181
Latin America	564	1,457	224	1,310	1,082	189	1,182	96
Argentina	61	80	48	75	19	0	27	0
Brazil	55	136	35	112	144	63	113	36
Chile	350	632	2	448	405	123	509	63
Colombia	30	453	32	457	421	(2)	424	(1)
Peru	68	156	107	219	87	(1)	110	(2)
Other1	-	-	-	-	6	6	(1)	(1)
Europe & North Africa	309	309	913	913	95	95	98	98
Romania	4	4	-	-	55	55	60	60
Russia	126	126	119	119	-	-	-	-
Slovakia	191	191	790	790	-	-	-	-
Other2	(12)	(12)	4	4	40	40	38	38
North & Central America3	-	-	-	-	470	470	435	435
Sub-Saharan Africa & Asia4	-	-	-	-	7	7	(7)	(7)
Other	(26)	(26)	(12)	(12)	(37)	(37)	(36)	(36)
Total	2,039	3,410	2,131	3,859	2,722	1,351	3,198	1,470

1. Includes Uruguay and other

2. Includes Belgium, Greece, France, Bulgaria

3. 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
	9M 2016	9M 2015	9M 2016	9M 2015	9M 2016	9M 2015	9M 2016	9M 2015	9M 2016	9M 2015	9M 2016	9M 2016
Italy	400	135	2,670	2,726	797	1,047	1,373	971	81	114	5,321	4,993
Iberia	668	730	1,393	1,362	308	347	592	477	9	62	2,970	2,978
Latam	393	224	1,042	1,035	1,263	1,182	-	-	(76)	(53)	2,622	2,388
Argentina	61	48	123	97	19	27	-	-	-	-	203	172
Brazil	55	35	292	300	144	113	-	-	(25)	(24)	466	424
Chile	179	2	186	187	568	509	-	-	(16)	1	917	699
Colombia	30	32	296	310	421	424	-	-	-	-	747	766
Peru	68	107	145	141	105	110	-	-	-	-	318	358
Other2	-	-	-	-	6	(1)	-	-	(35)	(30)	(29)	(31)
Europe & North Africa	309	913	173	200	95	98	31	17	1	2	609	1,230
Romania	4	-	173	200	55	60	33	19	1	2	266	281
Russia	126	119	-	-	-	-	-	-	-	-	126	119
Slovakia	191	790	-	-	-	-	-	(1)	-	-	191	789
Other3	(12)	4	-	-	40	38	(2)	(1)	-	-	26	41
North & Central America4	-	-	-	-	470	435	-	-	-	-	470	435
Sub-Saharan Africa & Asia5	-	-	-	-	7	(7)	-	-	-	-	7	(7)
Other	(26)	(12)	-	-	(37)	(36)	-	-	(40)	(81)	(103)	(129)
Total	1,744	1,990	5,278	5,323	2,903	3,066	1,996	1,465	(25)	44	11,896	11,888

1. Excludes extraordinary items 9M 2016: +124 €mn Hydro Dolomiti capital gain , -18 €mn depreciation Curibamba (Peru); +171 €mn capital gain Quintero (Chile), -163 €mn depreciation El Puelo (Chile). 9M 2015: +141 €mn SE Hydropower capital gain and +132 €mn 3Sun

2. Includes Uruguay and other

3. Includes Belgium, Greece, France, Bulgaria

4. Includes Mexico, USA, Panama, Canada, Guatemala, Costa Rica 5. Includes South Africa, India

23

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

		Global Thermal Generation & Trading			Global Renewable Energies
		9M2016		9M 2015		9M 2016		9M 2015
	New perimeter	Old perimeter	New perimeter	Old perimeter	New perimeter	Old perimeter	New perimeter	Old perimeter
Italy	400	727	135	611	797	470	1,047	571
Iberia	668	819	730	896	308	157	347	181
Latin America	393	1,467	224	1,310	1,263	189	1,182	96
Argentina	61	80	48	75	19	0	27	0
Brazil	55	136	35	112	144	63	113	36
Chile	179	624	2	448	568	123	509	63
Colombia	30	453	32	457	421	(2)	424	(1)
Peru	68	174	107	219	105	(1)	110	(2)
Other1	-	-	-	-	6	6	(1)	(1)
Europe & North Africa	309	309	913	913	95	95	98	98
Romania	4	4	-	-	55	55	60	60
Russia	126	126	119	119	-	-	-	-
Slovakia	191	191	790	790	-	-	-	-
Other2	(12)	(12)	4	4	40	40	38	38
North & Central America3	-	-	-	-	470	470	435	435
Sub-Saharan Africa & Asia4	-	-	-	-	7	7	(7)	(7)
Other	(26)	(26)	(12)	(12)	(37)	(37)	(36)	(36)
Total	1,744	3,296	1,990	3,718	2,903	1,351	3,066	1,338

1. Includes Uruguay and other

2. Includes Belgium, Greece, France, Bulgaria

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

9M 2016 Group ordinary EBITDA reconciliation organizational changes

Global Generation new perimeter (€mn) Global Renewables new perimeter (€mn)

EBITDA from Reported to Adjusted: breakdown by geography

9M 2016	Italy	Iberia	Latam	Europe & North Africa	North & Central America	Sub-Saharan Africa & Asia	Other	Total
Reported	5,445	2,970	2,612	609	470	7	(103)	12,010
Extraordinary items	124	-	(10)	-	-	-	-	114
Ordinary	5,321	2,970	2,622	609	470	7	(103)	11,896
One-offs	286	142	(48)	-	-	-	19	399
Adjusted	5,035	2,828	2,670	609	470	7	(122)	11,497

9M 2015	Italy	Iberia	Latam	Europe & North Africa	North & Central America	Sub-Saharan Africa & Asia	Other	Total
Reported	5,266	2,978	2,388	1,230	435	(7)	(129)	12,161
Extraordinary items	273	-	-	-	-	-	-	273
Ordinary	4,993	2,978	2,388	1,230	435	(7)	(129)	11,888
One-offs	(24)	247	50	550				823
Adjusted	5,017	2,731	2,338	680	435	(7)	(129)	11,065

EBITDA from Reported to Adjusted: breakdown by business line

9M 2016	Global Thermal Generation & Trading	Global Infrastructure & Networks	Global Renewable Energies	Retail	Services & Holding	Total
Reported	2,039	5,278	2,722	1,996	(25)	12,010
Extraordinary items	295	-	(181)	-	-	114
Ordinary	1,744	5,278	2,903	1,996	(25)	11,896
One-offs	399	(24)		13	11	399
Adjusted	1,345	5,302	2,903	1,983	(36)	11,497

9M 2015	Global Thermal Generation & Trading	Global Infrastructure & Networks	Global Renewable Energies	Retail	Services & Holding	Total
Reported	2,131	5,323	3,198	1,465	44	12,161
Extraordinary items	141	-	132	-	-	273
Ordinary	1,990	5,323	3,066	1,465	44	11,888
One-offs	739	2		27	55	823
Adjusted	1,251	5,321	3,066	1,438	(11)	11,065

Operational efficiency¹ (€mn)

1. In nominal terms

2. Net of one-offs related to Italy for bad weather

3. Adjusted figure: -489 €mn one-off in 2015 mainly related to release of provision in Slovenské elektrárne, +10 €mn in 2016

Operational efficiency: opex evolution

Opex evolution1,2 (€mn) Opex by business⁴

Networks		-9%		-18%
€/end user	58.5	56.8	53.0	47.9
	FY 2014	FY 2015	LTM	2019
Renewables		-6%		-20%
k€/MW	76.0	78.7	71.3	61.0
	FY 2014	FY 2015	LTM	2019
Conventional		-13%		-10%
generation5 k€/MW	43.9	39.9	38.6	39.3
	FY 2014	FY 2015	LTM	2019
Staff		+1 p.p.		-2 p.p.
% of Total Fixed Costs	24%	24%	25%	22%
	FY 2014	FY 2015	LTM	2019

Savings on track to meet plan targets

1. Total fixed costs in nominal terms (net of capitalizations). Impact from acquisitions is not included

2. Adjusted figure: -489 €mn one-off in 2015, +10 €mn in 2016 3. Related to Slovenské elektrárne deconsolidation 4. In nominal terms 5. 2014 figure restated for delta perimeter

Operational efficiency: opex (€mn)

Forward sales

Peru

Colombia

Brazil

³² 1. Gross of contribution. Includes assets held for sale related to Slovenské Elektrárne for 283 €mn and Upstream gas for 5 €mn

1. Includes EGP old perimeter (2,490 €mn) and large hydro ex Generation (150 €mn)

2. Includes upstream gas and holding

Capex¹

Capex by business¹ (€mn)

1. Gross of contribution. Includes capex related to assets held for sale in Europe & North Africa related to Slovenské elektrárne equal to 283 €mn in 33 9M 2016 and 400 €mn in 9M 2015 and in other related to upstream gas equal to 5 €mn in 9M 2016

2. Includes upstream gas and holding

Gross debt ¹structure

Debt structure by instrument (€bn)

Debt by instrument	Enel Spa	EFI	Central Others	Italy	Iberia	Latam	North & Central America	Europe & North Africa	Sub-Saharan Africa & Asia	Total
Bonds	13.34	17.54	0.30	-	0.10	3.64	-	0.14	-	35.06
Bank Loans	0.05	-	0.67	3.95	0.71	1.92	0.42	0.32	0.20	8.24
Tax Partnership	-	-	-	-	-	-	-	-	-	-
Other Loans	-	-	-	0.12	0.53	0.21	1.10	-	0.17	2.13
Other short term debt	0.89	-	-	0.12	0.17	0.09	-	-	-	1.27
Commercial Paper	-	1.09	-	-	1.21	-	-	-	-	2.30
Gross debt	14.28	18.63	0.97	4.19	2.72	5.86	1.52	0.46	0.37	49.00
Financial Receivables	(0.01)	-	(0.49)	(1.40)	(0.53)	(0.89)	-	-	-	(3.32)
Tariff Deficit	-	-	-	-	(0.27)	-	-	-	-	(0.27)
Other short term financial receivables	(1.39)	(0.01)	-	(0.61)	(0.06)	(0.03)	(0.07)	-	-	(2.17)
Cash and cash equivalents	(1.25)	(0.21)	(0.06)	(0.27)	(0.66)	(2.46)	(0.07)	(1.39)	(0.05)	(6.42)
Net Debt – Third Parties	11.63	18.41	0.42	1.91	1.20	2.48	1.38	(0.93)	0.32	36.82
Net Debt – Intercompany	2.32	(18.88)	2.57	8.37	3.00	1.16	1.04	0.21	0.21	-
Net Debt – Group View	13.95	(0.47)	2.99	10.28	4.20	3.64	2.42	(0.72)	0.53	36.82

Debt maturity coverage split by typology (€bn)

1. Of which 14.1 €bn of long term committed credit lines with maturities beyond September 2017

2. Includes commercial paper

M W	Hydro1	Wind	Geothermal	Solar & Other	Nuclear	Coal	CCGT	Oil&Gas ST/OCGT	Total
Italy	12,424	728	761	99	-	6,478	4,509	2,765	27,763
Iberia	4,763	1,616	-	46	3,318	5,168	5,445	2,417	22,774
Latam	9,510	980	-	504	-	835	4,316	2,584	18,729
Argentina	1,328	-	-	-	-	-	1,994	1,097	4,419
Brazil	860	400	-	12	-	-	319	-	1,591
Chile	3,548	530	-	492	-	611	1,532	609	7,322
Colombia	2,996	-	-	-	-	224	-	187	3,407
Peru	778	-	-	-	-	-	471	690	1,940
Uruguay	-	50	-	-	-	-	-	-	50
Europe & North Africa	19	741	-	106	-	3,623	1,215	4,514	10,218
Romania	-	498	-	36	-	-	-	-	534
Russia	-	-	-	-	-	3,623	809	4,514	8,946
Slovakia	-	-	-	-	-	-	-	-	-
Other2	19	242	-	71	-	-	406	-	738
North & Central America	864	2,536	72	54	-	-	-	-	3,525
Mexico	53	446	-	0	-	-	-	-	499
Panama	300	-	-	25	-	-	-	-	325
USA	316	1,987	72	29	-	-	-	-	2,403
Other3	195	103	-	-	-	-	-	-	298
Sub-Saharan Africa & Asia4	-	260	-	323	-	-	-	-	584
Total	27,580	6,861	833	1,133	3,318	16,103	15,485	12,280	83,592

1. Includes 24,837 MW of Large Hydro (10,903 MW in Italy, 4,721 MW in Iberia, 9,213 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	Nuclear	Coal	CCGT	Oil&Gas ST/OCGT	Total
Italy	12,530	973	4,384	89	-	20,213	5,893	373	44,455
Iberia	6,326	2,757	-	137	19,983	13,501	5,086	5,106	52,897
Latam	24,260	1,751	-	510	-	2,857	14,033	3,601	47,011
Argentina	1,799	-	-	-	-	-	6,685	1,734	10,218
Brazil	1,932	814	-	12	-	-	1,216	-	3,973
Chile	6,875	796	-	498	-	2,296	3,981	315	14,761
Colombia	10,487	-	-	-	-	562	-	307	11,355
Peru	3,167	-	-	-	-	-	2,151	1,244	6,563
Uruguay	-	141	-	-	-	-	-	-	141
Europe & North Africa	1,228	1,201	-	124	7,523	14,415	3,754	12,991	41,237
Romania	-	816	-	37	-	-	-	-	854
Russia	-	-	-	-	-	13,461	3,402	12,991	29,853
Slovakia	1,201	-	-	5	7,523	954	-	-	9,684
Other2	27	384	-	82	-	-	352	-	846
North & Central America	2,263	6,650	288	49	-	-	-	-	9,250
Mexico	155	1,016	-	0	-	-	-	-	1,171
Panama	1,157	-	-	13	-	-	-	-	1,170
USA	666	5,397	288	36	-	-	-	-	6,388
Other3	285	237	-	-	-	-	-	-	522
Sub-Saharan Africa & Asia4	-	310	-	24	-	-	-	-	335
Total	46,608	13,640	4,673	934	27,506	50,987	28,766	22,071	195,184

1. Includes 39,364 GWh of Large Hydro (8,387 GWh in Italy, 6,223 GWh in Iberia, 23,553 GWh in Latam, 1,201 GWh in Europe & North Africa)

2. Includes Belgium, Greece, France, Bulgaria

3. Includes Canada, Guatemala, Costa Rica

9M 2016 consolidated results Group total additional capacity: breakdown by technology and geography
M W	Hydro1	Wind	Geothermal	Solar & Other	Nuclear	Coal	CCGT	Oil&Gas ST/OCGT	Total
Italy	6	8	-	15	-	-	-	-	29
Iberia	0	-	-	-	-	-	-	-	0
Latam	112	112	-	318	-	-	-	-	542
Argentina	-	-	-	-	-	-	-	-	-
Brazil	112	-	-	-	-	-	-	-	112
Chile	-	112	-	318	-	-	-	-	430
Colombia	-	-	-	-	-	-	-	-	-
Peru	-	-	-	-	-	-	-	-	-
Uruguay	-	-	-	-	-	-	-	-	-
Europe & North Africa	-	-	-	-	-	-	-	-	-
Romania	-	-	-	-	-	-	-	-	-
Russia	-	-	-	-	-	-	-	-	-
Slovakia	-	-	-	-	-	-	-	-	-
Other3	-	-	-	-	-	-	-	-	-
North & Central America	-	-	-	13	-	-	-	-	13
Mexico	-	-	-	-	-	-	-	-	-
Panama	-	-	-	13	-	-	-	-	13
USA	-	-	-	-	-	-	-	-	-
Other4	-	-	-	-	-	-	-	-	-
Sub-Saharan Africa & Asia5	-	88	-	314	-	-	-	-	402
Total	118	208	-	659	-	-	-	-	985

1. Of which 0 MW of Large Hydro

2. Includes Belgium, Greece, France, Bulgaria

3. Includes Canada, Guatemala, Costa Rica

Renewable projects in execution: breakdown by technology and geography (MW)

MW	Wind	Hydro	Geothermal	Solar	Biomass	Total
Italy	-	6	4	-	32	42
Iberia	1	-	-	-	-	1
Latam	680	50	41	986	-	1,757
Europe & North Africa	154	-	-	-	-	154
North & Central America	952	50	-	180	-	1,182
Sub-Saharan Africa & Asia	816	-	-	35	-	851
Total	2,603	106	45	1,201	32	3,987

Renewable projects under construction : breakdown by technology and geography (MW)

MW	Wind	Hydro	Geothermal	Solar	Biomass	Total
Italy	-	6	-	-	32	38
Iberia	1	-	-	-	-	1
Latam	554	30	41	807	-	1,432
Europe & North Africa	-	-	-	-	-	-
North & Central America	952	50	-	180	-	1,182
Sub-Saharan Africa & Asia	111	-	-	-	-	111
Total	1,618	86	41	987	32	2,764

Renewable projects ready to build : breakdown by technology and geography (MW)

MW	Wind	Hydro	Geothermal	Solar	Biomass	Total
Italy	-	-	4	-	-	4
Iberia	-	-	-	-	-	-
Latam	126	20	-	179	-	325
Europe & North Africa	154	-	-	-	-	154
North & Central America	-	-	-	-	-	-
Sub-Saharan Africa & Asia	705	-	-	35	-	740
Total	985	20	4	214	-	1,223

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 forwardlooking 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.

Contact us

Email investor.relations@enel.com

Phone +39 06 8305 7975

Web site www.enel.com Luca Passa Head of Group Investor Relations

Elisabetta Ghezzi Investor Relations Holding

Donatella Izzo Investor Relations Sustainability and Other Countries

Marco Donati Investor Relations Reporting and Corporate Governance

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