Enel: in the nine months of 2026, growth in results is led by Spain and the Americas while margins in Italy continue to decline due to lower prices applied to residential customers with fixed offers

• Revenues: 65,022 million euros (59,702 million euros in the nine months of 2025, +8.9%)
  The change mainly reflects: (i) higher revenues from distribution activities, particularly in Latin America and Spain, as a result of tariff adjustments, aimed at remunerating investments made in networks, and the new regulatory framework, respectively; (ii) higher electricity sales on the wholesale market in Europe; (iii) higher revenues from renewable generation, mainly in Colombia. The increase was also impacted by overall favorable exchange rate developments. These positive changes more than offset the negative effects recorded in Italy, stemming from lower average prices applied to residential customers and to small and medium-sized enterprises, as well as from lower hydro generation due to reduced water availability
• Ordinary EBITDA: 17,946 million euros (17,262 million euros in the nine months of 2025, +4%)
  The growth was driven by the solid performance registered in Spain and the Americas, which more than offset the decline in margins in Italy (i) in energy sales, due to the lower average prices applied to residential customers alongside small and medium-sized enterprises, and (ii) in renewable generation, mainly from hydro sources due to lower water availability
• Group net ordinary income: 6,018 million euros (5,703 million euros in the nine months of 2025, +6%)
  The positive performance of ordinary operations more than offset the increase in net financial expenses relating to growing investments as well as the higher impact of minority interests associated with the greater contribution of international subsidiaries to results
• Group net ordinary earnings per share (EPS): 0.61 euros ^[1] in the nine months of 2026 (0.56 euros in the nine months of 2025, +8%^[2])
• Net financial debt: 66,158 million euros (57,182 million euros at 2025 year-end, +15.7%)
  The positive cash flows generated by recurring operations (Funds From Operations, “recurring” FFO, equal to approximately 9.8 billion euros) and the net positive effects deriving from the new issues of non-convertible subordinated perpetual hybrid bonds were allocated to partially meet the financial needs associated with capital expenditure in the period, with certain renewable asset acquisitions, as well as with shareholder remuneration through dividends and share buyback programs carried out by Enel S.p.A., Endesa S.A. and Enel Américas S.A. Net financial debt was affected by the negative impact of exchange rate developments as well as of the approximately 1.5 billion euro effect of the so-called Energy Decree of February 2026, which foresees, in Italy, the anticipation of the terms of settlement of system charges
• Approval of interim dividend for 2026 of 0.245 euros per share (+7% compared to the 2025 interim dividend), in payment from January 20 ^th, 2027
  The dividend policy of the 2026-2028 Strategic Plan foresees, in line with expected growth in Ordinary Earnings per Share (EPS), that the dividend per share (DPS) will increase by approximately 6% in terms of CAGR (Compound Annual Growth Rate) between 2025 and 2028
• For the financial year 2026, EPS is expected at around 0.74 euros, corresponding to the upper end of the guidance range

<sup>[1] Calculated on the basis of the number of shares into which the Company’s share capital is divided at September 30th, 2026, net of the 229,131,050 shares already purchased under Enel’s share buyback programs – which were executed in order to pay shareholders a remuneration in addition to the distribution of dividends – and subsequently cancelled.

[2] Year-on-year change calculated based on the exact ratio between net ordinary income and the number of shares considered for the two periods under comparison (i.e., 10,166,679,946 shares for the calculation as of September 30th, 2025, and 9,937,548,896 shares for the calculation as of September 30th, 2026).</sup>

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