Eni — Earnings Release 2015

Oct 29, 2015

Saipem stake disposal and Q3 results

A major milestone in eni's transformation

29 October 2015

www.eni.com

Eni strategy - progressing on three main pillars

Growth	2015 production +9% • > 1.2 bln boe of new resources discovered • Capex –17% and Opex per boe –12% •
Restructuring	G&P ebit close to breakeven • • R&M and Versalis both ebit positive • Downstream segment FCF positive
Transformation	• Sale of 12.5% stake and deconsolidation of Saipem

2015: organic coverage of capex @ 55 \$/bbl*

Saipem stake disposal

Total net debt reduction to eni € 5.1 bln

3Q results and YTD performance

E&P - production growth is supported by world class exploration

Higher production and discovered volumes

G&P - strong cash generation

2015 EBIT adj close to breakeven notwithstanding arbitration postponements

R&M and Chemicals - gaining momentum

EBIT adj positive and organic cash neutrality brought forward to 2015

Ebit and Net – economic performance

EBIT adj: plan execution delivered € 800 mln

Cash generation - organic capex coverage

capex covered by operating cashflow @55\$/bbl