Page 1

eni Rome July 30 , 2021 IQ 2021 60.90 1.205 198 3 Eni results for the second quarter and half year 2021 Key operating and financial results ( 0.6 ) 1,704 Hydrocarbon production 1,321 Adjusted operating profit ( loss ) ( a ) 1,378 ( 30 ) ( 120 ) 202 Brent dated Average EUR / USD exchange rate Spot Gas price at Italian PSV Spread PSV vs. TTF Standard Eni Refining Margin ( SERM ) 270 0.08 Adjusted net profit ( loss ) per share - diluted ( € ) Net profit ( loss ) ( b ) 0.24 per share - diluted ( € ) ( a ) 1,960 Cash flow from operations before changes in working capital at replacement cost 1,376 Net cash from operations 1,387 Net capital expenditure 12,239 Net borrowings before lease liabilities ex IFRS 16 17,507 Net borrowings after lease liabilities ex IFRS 16 39,957 Shareholders ' equity including non - controlling interest 0.31 Leverage before lease liabilities ex IFRS 16 0.44 Leverage after lease liabilities ex IFRS 16 ( a ) Non - GAAP measure . For further information see the paragraph " Non - GAAP measures " on page 18 . ( b ) Attributable to Eni's shareholders . ( c ) Net of expenditures relating to business combinations , purchase of minority interests and other non - organic items . 856 E & P Global Gas LNG Portfolio ( GGP ) R & M and Chemicals Eni gas e luce , Power & Renewables ( a ) ( b ) ( c ) $ / bbl € / kcm $ / bbl kboe / d Registered Head Office , Piazzale Enrico Mattei , 1 00144 Roma € million -1 Tel . +39 06598.21 www.eni.com IIQ 2021 2020 % Ch . 68.83 29.20 136 1.206 1.101 264 74 18 1 ( 0.4 ) 2.3 1,597 1,729 2,045 ( 434 ) 1,841 ( 807 ) 24 130 190 73 108 85 929 ( 714 ) 0.24 ( 0.20 ) 247 ( 4,406 ) 0.06 ( 1.23 ) 2,797 1,148 144 2,717 1,403 94 1,519 957 59 10,040 14,329 ( 30 ) 15,323 19,971 ( 23 ) 40,580 38,839 4 0.25 0.37 0.38 0.51 256 ( 94 ) ( 8 ) ( 82 ) 160 27 IH 2020 % Ch . 2021 64.86 1.205 231 39.73 63 1.102 9 97 138 2 17 ( 90 ) ( 0.5 ) 2.9 1,650 1,760 3,366 873 3,219 230 ( 6 ) 363 ( 102 ) 70 89 ( 21 ) 310 12 276 ( 655 ) 1,199 0.32 ( 0.18 ) 1,103 ( 7,335 ) 0.30 ( 2.05 ) 4,757 3,370 41 4,093 2,378 72 2,906 2,862 2 10,040 14,329 ( 30 ) 15,323 19,971 ( 23 ) 40,580 38,839 4 0.25 0.37 0.38 0.51 ( 6 ) 286 .. .. Eni's Board of Directors , chaired by Lucia Calvosa , yesterday approved the unaudited consolidated results for the second quarter and first half 2021. Eni CEO Claudio Descalzi said : " Eni delivered exceptional results in the second quarter of the year , continuing the upward trend of the last three quarters and beating market expectations across all of its business segments . With an improved macro backdrop and energy market fundamentals , the Group reported € 2 billion of EBIT and € 0.93 billion of net profit , a € 1.6 billion increase compared to the second quarter of 2020 . Group results were driven by a robust performance from the E & P segment , which recorded € 1.84 billion of EBIT , up by € 2.6 billion from the same quarter last year . The newly incorporated Eni gas e luce & Renewables division reported € 70 million of EBIT , an increase of € 50 million over the comparative period due to a growing customer base and higher revenue from value added services . In renewables , we are going to exceed our 2021 target , reaching 2 GW of installed and in - construction power capacity . Finally , the Chemicals business reported around € 200 million of EBIT , an increase of € 270 million . The strong performances across our business and a continued focus on capital discipline resulted in strong cash flow generation in the first half of 2021 with € 1.82 billion of free cash flow after organic capital expenditure . These results , the progress on delivering our strategy , the outlook , and a Brent reference scenario of 65 $ / bbl , have allowed us to increase our dividend back to pre - COVID levels at € 0.86 per share , with 50 % paid next September . We will also start a € 400 million share buy - back program over the next 6 months . "