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FACT SHEET october 2014

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WHO WE ARE INVESTMENT CASE DIVIDEND (€/SHARE) AND DIVIDEND YIELD (%) SHARE PERFORMANCE Q3 2014 (€)
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  FACT SHEET (1) calculated on Eni avg share price in Dec 2013 (2) Peer Group: BP, Chevron, Repsol, Exxon, Shell, Total  WHO WE ARE INVESTMENT CASE DIVIDEND (€/SHARE) AND DIVIDEND YIELD (1)  (%) SHARE PERFORMANCE Q3 2014 (€) DividendDividend Yeld 0.01%0%0.22%0.43%0.64%0.85%1.06%1.27%1.48% 200620072008200920102011201220132014 Last update October 2014pag. 1 Exploration & ProductionGas & PowerItalian Gov 30 % Market 70 % Engineering & Construction(Saipem) 43 % Chemicals (Versalis) 100 % Major equity holdings Snam 8 % Galp 8 % Eni is one of the largest integrated energy com-panies in the world, operating in the sectors of oil and gas exploration & production, international gas transportation and marketing, power generation, re- ning and marketing, chemicals and oileld services. Eni is active in 85 countries with 82,300 employees.Our commitment to sustainable development means that we grow and retain our people, contribute to the development and wellbeing of the communities in which we operate, protect the environment, and in- vest in technological innovation and energy eciency, mitigating the risks of climate change. eni.com FTMIB: ENI US ADR: E Unbeatable exploration success Between 2008 and 2013, Eni has discovered over 9.5 billion boe, equivalent to 2.5 times its production over the same period. The average explo- ration cost was 1.2$/boe. In the next four years, Eni’s target is to discover an additional 3.2 billion boe at a unit cost of 2.2 dollars. In the rst half of 2014, Eni discovered more than 400 million boe. These discoveries will fuel future growth and accelerate cash generation through the dilution of shares in the discoveries in which Eni holds a large working interest.  Production growth resulting in strong cash generation The E&P portfolio is mainly composed of conventional assets with low costs and high protability. Cash ow per barrel was 30 dollars in 2013 and will rise in the coming years thanks to the growing contribution of oil vs gas in our production mix (from 52% in 2013 to 57% in 2017). Eni is targeting a 3% CAGR in the 2014-17 period. Over the plan period, 26 start-ups will contribute over 500 kboe per day, with an additional 200 kboe per day will come from ramp-ups currently underway. The portfolio of new projects has a breakeven of 45 $/bbl, and an average IRR of over 20% at 90 $/boe.  Return to protability of the G&P, R&M and Chemicals businesses Eni holds a leading position in the European gas sector, where it sells over 80 billion cubic metres a year, and it has begun a transformation process of its midstream activities, with supply contract renegotiations, transport capacity reductions and a focus on high value segments (LNG, trading and retail). These actions will bring the G&P sector to breakeven already in 2014. Capacity cuts are ongoing also in the rening business, with a target of a more than 50% reduction in capacity compared to 2012. This optimization will contribute to bringing the R&M sector to break-even by end of 2015, even in the current weak scenario. Versalis is reconverting the Porto Torres and Porto Marghera sites into “green” chemical plants and is expanding its international footprint with joint ventures in Asia.  Portofolio exibility and additional cash generation In 2012-13, Eni has completed divestments totaling 13 billion euro and has deconsolidated over 12 billion euro related to Snam’s debt. The sales did not meaningfully impact long term production prospects and helped reduce exposure to exploration assets or non-core holdings. Over the course of the plan, Eni will complete 11 billion euro in divestments (more than 3 billion of which already achieved in the rst half of 2014), with the sale of the residual shares in Snam and Galp, divestment of certain assets in the mid/downstream, as well as the dilution of large stakes in exploration successes. In addition, Eni’s results will benet from over 1.7 billion euro related to the incisive cost saving program recently launched. In 2014-2015, operating cash ow generation will increase by more than 40% versus 2013 and free cash ow generation, also thanks to a policy of at capex, by 20%.   Progessive dividends and buyback Eni has a generous distribution policy. For 2014, a dividend of 1.12 euro per share (6.1% expected yield) will be proposed, representing an almost 2% increase versus the previous year. In addition, Eni has launched a buy back program: a exible tool that will support the remuneration policy over the coming years, with the target or repurchasing up to 10% of outstanding shares.  Leader in sustainability Eni is a leader in the FTSE4Good and Dow Jones sustainability indices. Dec-13May-14 Peer group (2) FTMIBENI Sept-14 2014 Proposal  I 120%115%110%105%100%95%90%    ENI IN NUMBERS Production of oil and natural gas (kboe/d) Eni adj. operating prot (€ million) Eni adj. net prot (€ million) Capital expenditure (€ million) Net cash ow from operations ( € million) Net debt (€ million) Leverage 1,81517,3046,86913,87014,69426,1190.471,58117,9746,96913,43814,38228,0320.461,70119,0107,13012,76112,35615,5110.25 Eni spa Investor Relations - Piazza Vanoni, 1 - 20097 San Donato Milanese (MI) ItalyTelephone: +39 02 52 05 16 51 Fax: +39 02 52 03 19 29 Email: investor.relations@eni.com Website: www.eni.com  LATEST ANNOUNCEMENTS AND ACCOMPLISHMENTS CONTACTS G&P is engaged in all phases of thegas value chain: supply, trading andmarketing of gas and electricity, gasinfrastructures, and LNG supply andmarketing. Eni sells more than 60% of its gas outside Italy and its leading position in the European gas market is supported by competitiveadvantages, including its multicountryapproach, long-term gas availability, access to infrastructure, market knowledge, wide product range and strong customer base. R&M renes and markets fuels and other oil products primarily in Italyand Central-Eastern European countries.Our R&M division is relatively smallcompared to the R&M segment of  our peers. Eni is the largest rener in Italy and the leading operator inretail marketing of fuels with a market share of around 30%. Eni’s strategy in R&M is to cut costs and enhance margins to return to protability. E&P is our main division. It is currently present in 42 coun- tries and is focused on nding and producing oil and gas. Eni’s strategy is to deliver organic production growth with increasing returns over the medium to long term, leveraging on a high-quality portfolio of assets, exposure to competi-tive giant projects and long-standing relationships with host countries. Our strategy combines geographical diversica - tion with scale benets and project synergies. More than 75% of our production will come from either onshore or shallow water, with a positive impact in terms of risks and operat-ing costs. Main projects start up € -0.66 B adj operating prot € 0.23 B  capex 93 bcm gas sold worldwide 35 Twh electricity sold 10 million   customers inEurope, of which 8 in Italy € -0.48 B adj operating prot € 0.62 B capex 787 kbbl/d capacity 27.4 Mtonnes  throughput 6,400 fuel stations 1.62 Mboe/d  of production 6.5 mmboe  proved reserves with a life index of 11.1 y 105% organic reserve replacement ratio € 14.6 B  adj operating prot € 10.5 B  capex 201020112012 (1) 20139M 2014 eni.com FTMIB: ENI US ADR: E 2013  HIGHLIGHTS  2013  HIGHLIGHTS 2013  HIGHLIGHTS  EXPLORATION AND PRODUCTION GAS & POWER   REFINING & MARKETING (1) Following the announcement of Snam divestment, gures are represented as continuing operations FACT SHEET Last update October 2014pag. 2 2014 - Eni: third quarter and nine months of 2014 results 2014 - Eni: New Signicant Oil discovery in the Oshore of Congo2014 - Eni: signicant gas nding Oshore Indonesia 2014 - Eni signs a cooperation agreement with Kogas on upstream and LNG activities 2014 - Eni signs two new production sharing contracts for oshore exploration in Vietnam 2014 - Eni continues its share buyback programme2014 - Eni has been awarded 3 new exploration licenses in Egypt 2014 - Eni: signicant oil discovery in Ecuador2014 - Eni: new oil discovery oshore Angola 2014 - Eni starts production at DEKA Project in Egyptã 30 October ã 30 October ã 27 October ã 17 October ã 13 October ã 06 October ã 25 September ã 18 September ã 17 September ã 21 August 1,5769,2513,2438,6079,72415,8370.25 2014-2015 2016-2017 Mafumeira Sul 15/06 West Hub Kizomba Sat. Ph.2 Litchendjili gas CAFC oil Asgard Mikkel Eldfisk II Ph.1 West Franklin Ph. 2 Goliat Perla EP Junin 5 EP Perla FF Hadrian South Longhorn Ph.3 Lucius Heidelberg Jangkrik Wafa compression Bonaccia NW 15/06 East Hub 1,61912,6204,43312,75010,96915,4280.25
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