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enel PRESS RELEASE Global News Media Investor Relations T +39 06 8305 5699 ufficiostampa@enel.com gnm@enel.com enel.com T +39 06 8305 7975 investor.relations@enel.com enel.com ENEL , IN FIRST QUARTER 2021 INVESTMENTS UP 8.8 % AND YEARLY TARGETS CONFIRMED • • • • • Revenues : 17,107 million euros ( 19,985 million euros in the first quarter of 2020 , -14.4 % ) the change is mainly attributable to Thermal Generation and Trading activities in Italy and Spain , due to lower trading activities , to Infrastructure and Networks activities , mainly in Latin America due to adverse exchange rate effects , and to End - User Markets due to decreasing volumes of electricity sold in Spain Ordinary EBITDA : 4,159 million euros ( 4,741 million euros in the first quarter of 2020 , -12.3 % ) decrease mainly due to the impacts recognized in Spain in the first quarter of 2020 , following the change in the energy discount benefit , mainly in Thermal Generation and Trading and Infrastructure and Networks , as well as due to the adverse exchange rate effects in Latin America EBITDA : 4,091 million euros ( 4,708 million euros in the first quarter of 2020 , -13.1 % ) EBIT : 2,525 million euros ( 3,109 million euros in the first quarter of 2020 , -18.8 % ) the change mainly reflects the operating performance , partially offset by lower depreciation and amortization recorded in the first quarter of 2021 as a result of write - downs of certain coal - fired plants carried out during 2019 and 2020 as part of the decarbonization process Group net ordinary income : 1,214 million euros ( 1,281 million euros in the first quarter of 2020 , - 5.2 % ) the change in ordinary operating income was partially offset by lower net financial expenses and by a reduction in non - controlling interests Group net income : 1,176 million euros ( 1,247 million euros in the first quarter of 2020 , -5.7 % ) Net financial debt : 45,884 million euros ( 45,415 million euros at the end of 2020 , + 1.0 % ) increasing mainly due to the investments carried out during the period and adverse exchange rate effects , partly offset by positive cash flow generated by operations Capital expenditure : 2,035 million euros ( 1,870 million euros in the first quarter of 2020 , + 8.8 % ) the increase is mainly attributable to growth in capital expenditure in Enel Green Power , in Infrastructure and Networks and in End - User Markets ***** 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 . 1