Slide 1: 9M 2021 Results
9M 2021 Results October 29, 2021
Slide 2: 9M 2021 Highlights
9M 2021 | HIGHLIGHTS OIL, GAS, LNG, CCS/CCUS AND FORESTRY NATURAL RESOURCES ✓ UPSTREAM: PRODUCTION @1.66 MBOED, IN LINE WITH GUIDANCE; MAJOR DISCOVERY IN IVORY COAST ✓ GGP: CAPTURING POSITIVE SCENARIO; POSITIVE RESULTS FROM LONG TERM CONTRACT RENEGOTIATION ✓ PORTFOLIO: ANGOLA ENI/BP COMBINATION PROG
Slide 3: R+R IPO Started: Unique Proposition to Achieve Retail Scope 3 Zeroing
R+R IPO STARTED | UNIQUE PROPOSITION TO ACHIEVE RETAIL SCOPE 3 ZEROING LISTING EXPECTED IN 2022 IPO MILAN STOCK EXCHANGE ENI TO MAINTAIN CONTROL ACCELERATE DECARBONIZATION MUTUAL BENEFIT ENI DERISKED CAPITAL ALLOCATION UNLOCKING HIDDEN VALUE STRATEGIC TARGETS INSTALLED CAPACITY | GW RETAIL CLIENTS |
Slide 4: Business Combination: Capturing Upstream Potential
BUSINESS COMBINATION| CAPTURING UPSTREAM POTENTIAL NORWAY: VAR ENERGI LARGEST INDEPENDENT ANGOLA: FORMING A TOP-RANK PLAYER A SUCCESSFUL STORY >200 KBOED PRODUCTION 1 BLN BOE RESERVES 2018 2019 2021 ACQUISITION OF OWNERSHIP CREATION XOM ASSETS REVIEW GETTING BIGGER GROWTH PURSUED AND DELIVERED SYNER
Slide 5: Natural Resources
NATURAL RESOURCES UPSTREAM | EBIT € BLN GGP | REVISING GUIDANCE UPWARDS 9M 2020 9M 2021 5.7 8x GAS & LNG PORTOFOLIO OPTIMIZATION | 0.7 CAPTURING FAVORABLE MARKET CONDITIONS LONG-TERM CONTRACTS NEGOTIATIONS | 9M 2020 9M 2021 ALIGNMENT WITH CURRENT AND FUTURE MARKET 2021 PRODUCTION CONFIRMED 2021 GGP
Slide 6: Energy Evolution
ENERGY EVOLUTION RETAIL & RENEWABLES | EBITDA € BLN DOWNSTREAM – LOW CARBON INITIATIVES 0.44 35% 0.33 SAF: LAUNCHED PRODUCTION FINPROJECT: 100% OWNED [0.35] ENJOY: EXPANDING NETWORK ECOPLASTIC: TECH ACCESSED 9M 2020 9M 2021 2021 EBITDA 2021 EBIT RETAIL & RENEWABLES: € 0.6 BLN DOWNSTREAM: € 0.2 BLN 6
Slide 7: Agro-Bio Feedstock: Partnering with African Countries
AGRO-BIO FEEDSTOCK| PARTNERING WITH AFRICAN COUNTRIES VERTICAL INTEGRATION ON BIO FEEDSTOCK SUPPORT TO SOCIAL-ECONOMICAL DEVELOPMENT VALORIZATION OF AGRICULTURAL WASTE (LOW ILUC) PROMOTING CIRCULAR ECONOMY, TO BE USED IN BIO-REFINING INVOLVING LOCAL COMMUNITIES TUNISIA EGYPT ALGERIA AFRICAN POTENTIA
Slide 8: Cash Results: Continuing Robust Generation
CASH RESULTS | CONTINUING ROBUST GENERATION 9M CASHFLOW| € BLN 2021 CFFO | € BLN 13 12 FCF 4.0 6-7 CAPEX 8.1 4.1 CURRENT CFFO CAPEX FCF 70 $/bbl FWD PRICES 2021 LEVERAGE ~ 0.28 Cash Flows are adjusted pre working capital at replacement cost. 8 Leverage: before IFRS 16 @ 70 $/bbl and SERM refining ma
Slide 9: 2021 On Track on Eni Long-Term Path
2021 ON TRACK ON ENI LONG-TERM PATH SUSTAINABLE LINKED BOND CCS HYNET PROJECT INCENTIVE DECARBONIZATION MAGNETIC FUSION BREAKTHROUGH R+R IPO PROCESS INCREASED REMUNERATION UPS CAPEX COVERAGE < 35 $/BBL CAPITAL DISCIPLINE GROUP CAPEX AT € 6 BLN FREE CASH FLOW AT € 6-7 BLN ANGOLA BUSINESS COMBINATION
Slide 10: Annex
ANNEX|
Slide 11: 9M Market Scenario
9M MARKET SCENARIO BRENT| $/bbl EXCHANGE RATE| €/$ 67.7 1.196 40.8 1.125 9M 2020 9M 2021 9M 2020 9M 2021 PSV| €/kcm STANDARD ENI REFINING MARGIN| $/bbl SPREAD PSV-TTF 15 -2 319 2.2 95 -0.4 9M 2020 9M 2021 11 9M 2020 9M 2021
Slide 12: Exploration: Côte d'Ivoire Confirming Consistent Track-Record
EXPLORATION | CÔTE D’IVOIRE CONFIRMING CONSISTENT TRACK-RECORD CÔTE D’IVOIRE - OFFSHORE BLOCK CI-101 BALEINE PROSPECT IN OFFSHORE BLOCK CI-101 ACCOMPLISHED A SIZEABLE DISCOVERY | OVER 2 BLN BOE IN PLACE PRELIMINARY ESTIMATES NET-ZERO* FAST-TRACK | DEVELOPMENT PLAN UNDER STUDY CONTRIBUTING TO COUNTRY
Slide 13: 2021 Guidance
2021 GUIDANCE PRODUCTION 1.7 MBOED EXPLORATION DISCOVERIES 700 MLN BOE EBIT € > 0.5 BLN GGP FCF € > 0.3 BLN RETAIL + RENEWABLES EBIT € 0.35 BLN R&M + VERSALIS EBIT € 0.2 BLN CAPEX € 6 BLN LEVERAGE ~ 0.28 R&M: SERM refining margin slightly negative; EBIT Proforma adjusted; Leverage before IFRS 16 Lev