Slide 1: Q1 2016 results
Q1 2016 results 29 April 2016 www.eni.com
Slide 2: Main highlights
Main highlights production +3.4% vs 1Q15 4 main start-ups, including Goliat Upstream Zohr FID G&P turnaround progressing Mid - refining ebit positive downstream capex in line with full year guidance Corporate almost flat leverage at 23% strategy execution on track 2
Slide 3: Portfolio resiliency
Portfolio resiliency discounted net cash flow of proved reserves per barrel 13 B r e nt $101/bl $54/bl 11 8 7 7 8 7 6 6 5 3 3 3 3 2015 P1(bln boe) 7 11 5 12 25 17 12 2015 DNCF (bln $) 41 67 23 33 71 58 37 robust portfolio in every oil scenario Source: PV10 analysis of 20F and 10K 3 Peers: BP, CVX, R
Slide 4: Consolidated results: ebit positive in all segments
consolidated results adj. operating profit | mln € adj. net profit | mln € 701 other 472 R&M G&P E&P -77 ebit positive in all segments 4
Slide 5: E&P performance
e&p performance oil & gas production | kboe/d adj. operating profit | million € 1,884 1,754 1,697 54 1,080 44 34 598 95 2016 production guidance substantially confirmed 5
Slide 6: G&P performance
g&p performance PSV and TTF | $/Mbtu adj. operating profit | million € 8 294 285 7 6.3 5.5 4.7 18 4.2 positive 2016 ebit adj expected 6
Slide 7: R&M performance
r&m performance Standard Eni Refining Margin | $/bbl adj. operating profit | million € 92 93 7.6 6.6 6.6 66 after hedging 4.2 refining ebit adj breakeven 7
Slide 8: Net debt evolution
net debt evolution Leverage = 0.22 0.23 net debt/equity billion € 11.7 12.2 31 Dec 2015 31 Mar 2016 31 Dec 2015 figure is a proforma considering the closure of the Saipem transaction without SEM application 8