<SEC-DOCUMENT>0001174947-21-000477.txt : 20210504
<SEC-HEADER>0001174947-21-000477.hdr.sgml : 20210504
<ACCEPTANCE-DATETIME>20210504074201
ACCESSION NUMBER:		0001174947-21-000477
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20210430
FILED AS OF DATE:		20210504
DATE AS OF CHANGE:		20210504

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ENI SPA
		CENTRAL INDEX KEY:			0001002242
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14090
		FILM NUMBER:		21886028

	BUSINESS ADDRESS:	
		STREET 1:		PIAZZALE ENRICO MATTEI 1
		CITY:			ROME ITALY
		STATE:			L6
		ZIP:			00144
		BUSINESS PHONE:		011390659824367

	MAIL ADDRESS:	
		STREET 1:		PIAZZALE ENRICO MATTEI 1
		CITY:			ROME ITALY
		STATE:			L6
		ZIP:			00144
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>form6k-26076_eni.htm
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-variant: small-caps">Washington,
D.C. 20549</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-variant: small-caps">________________________</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 2pt; text-align: center"><B>Form 6-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Report of
Foreign Issuer</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Pursuant to Rule 13a-16 or 15d-16 of</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">the Securities Exchange Act of 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">For the month of April 2021</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Eni S.p.A.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of Registrant as specified in its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Piazzale Enrico Mattei 1 -- 00144 Rome, Italy</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Address of principal executive offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">_________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(Indicate by check mark whether the registrant files
or will file annual reports under cover of Form 20-F or Form 40-F.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Form 20-F &#9746;<U> </U> Form 40-F</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">_________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(Indicate by check mark whether the registrant by furnishing
the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2b under the
Securities Exchange Act of 1934.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Yes &#9744; No &#9746;<U> </U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(If &quot;Yes&quot; is marked, indicate below the file
number assigned to the registrant in connection with Rule 12g3-2(b): )</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Table of
contents</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: justify"><A HREF="#a_001">Press release dated April 30, 2021 - Eni: first quarter 2021 results;</A></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: justify"><A HREF="#a_002">Press release dated April 30, 2021 - Eni&rsquo;s Board of Directors approves launch of strategic project to list or sell a minority stake in new business unit formed by Eni gas e luce and renewables.</A></TD></TR></TABLE>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements of
the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto
duly authorised.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.5in">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 2.5in">&nbsp;</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif">Eni S.p.A.</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif">/s/Elena Badini</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Name:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Elena Badini</TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Title:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Head of Company Law,<BR>
 Governance and Secretariat <BR>
and Issuers&rsquo; Compliance</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Date: April 30, 2021</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="text-align: left; font: 10pt/112% Times New Roman, Times, Serif; margin: 0 0 0 324.6pt; text-indent: 35.4pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="font-family: Times New Roman, Times, Serif; vertical-align: top; text-align: left">
  <TD STYLE="font-family: Times New Roman, Times, Serif"><IMG SRC="image_023.jpg" ALT="" STYLE="height: 101px; width: 95px">&nbsp;</TD>
  <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left; width: 2in; vertical-align: bottom"><P STYLE="font: 8pt/112% Times New Roman, Times, Serif; margin: 0; text-indent: 0">Registered
Head Office,</P>

<P STYLE="font: 8pt/112% Times New Roman, Times, Serif; text-indent: 0; margin: 0">Piazzale Enrico Mattei, 1</P>

<P STYLE="font: 8pt/112% Times New Roman, Times, Serif; text-indent: 0; margin: 0">00144 Roma</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">Tel. +39 06598.21</P>

<P STYLE="font: 8pt/112% Times New Roman, Times, Serif; margin: 0; text-indent: 0">www.eni.com</P>
</TD></TR>
</TABLE>

<P STYLE="font: 10pt/112% Times New Roman, Times, Serif; text-align: left; margin: 0 0 0 324.6pt; text-indent: 35.4pt"></P>

<P STYLE="font: 10pt/112% Times New Roman, Times, Serif; margin: 0 0 0 324.6pt; text-indent: 35.4pt"></P>

<P STYLE="font: 10pt/112% Times New Roman, Times, Serif; margin: 6pt 0 0">&nbsp;</P>

<P STYLE="font: 8pt/112% Times New Roman, Times, Serif; margin: 6pt 0 0">Rome</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">April 30, 2021</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 6pt 0 3pt; text-align: center; text-indent: 0"><B><A NAME="a_001"></A>Eni: first quarter
2021 results</B></P>

<P STYLE="font: 10pt/5pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 2.5pt; width: 5in; background-color: rgb(255,213,29); vertical-align: bottom; font-weight: bold; text-align: left"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>Key operating and financial results</B></P>

</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-top: #BFBFBF 0.5pt dotted; border-right: #BFBFBF 0.5pt dotted; border-left: #BFBFBF 0.5pt dotted; text-align: right">IVQ&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; border-top: #BFBFBF 0.5pt dotted; border-right: #BFBFBF 0.5pt dotted; border-left: #BFBFBF 0.5pt dotted; text-align: center">IQ&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; border-right: #BFBFBF 0.5pt dotted; border-bottom: black 1pt solid; border-left: #BFBFBF 0.5pt dotted; text-align: right">2020</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; border-left: #BFBFBF 0.5pt dotted; background-color: rgb(242,242,242); font-weight: bold; text-align: right">2021</TD>
    <TD STYLE="font-weight: bold; border-bottom: black 1pt solid; text-align: right">2020</TD>
    <TD STYLE="font-weight: bold; border-right: #BFBFBF 0.5pt dotted; border-bottom: black 1pt solid; text-align: right">% Ch.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: #BFBFBF 0.5pt dotted; border-left: #BFBFBF 0.5pt dotted; text-align: right; width: 10%">44.23</TD>
    <TD STYLE="padding-left: 18px; text-align: left; width: 50%">Brent dated</TD>
    <TD STYLE="font-size: 8pt; text-align: center; width: 10%">$/bbl</TD>
    <TD STYLE="border-left: #BFBFBF 0.5pt dotted; background-color: rgb(242,242,242); text-align: right; width: 10%">60.90</TD>
    <TD STYLE="text-align: right; width: 10%">50.26</TD>
    <TD STYLE="border-right: #BFBFBF 0.5pt dotted; text-align: right; width: 10%">21</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: #BFBFBF 0.5pt dotted; border-left: #BFBFBF 0.5pt dotted; text-align: right">1.193</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Average EUR/USD exchange rate</TD>
    <TD STYLE="font-size: 8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-left: #BFBFBF 0.5pt dotted; background-color: rgb(242,242,242); text-align: right">1.205</TD>
    <TD STYLE="text-align: right">1.103</TD>
    <TD STYLE="border-right: #BFBFBF 0.5pt dotted; text-align: right">9</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: #BFBFBF 0.5pt dotted; border-left: #BFBFBF 0.5pt dotted; text-align: right">153</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Spot Gas price at Italian PSV</TD>
    <TD STYLE="font-size: 8pt; text-align: center">&euro;/kcm</TD>
    <TD STYLE="border-left: #BFBFBF 0.5pt dotted; background-color: rgb(242,242,242); text-align: right">198</TD>
    <TD STYLE="text-align: right">120</TD>
    <TD STYLE="border-right: #BFBFBF 0.5pt dotted; text-align: right">65</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: #BFBFBF 0.5pt dotted; border-left: #BFBFBF 0.5pt dotted; text-align: right">(1)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Spread PSV vs. TTF</TD>
    <TD STYLE="font-size: 8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-left: #BFBFBF 0.5pt dotted; background-color: rgb(242,242,242); text-align: right">3</TD>
    <TD STYLE="text-align: right">17</TD>
    <TD STYLE="border-right: #BFBFBF 0.5pt dotted; text-align: right">(82)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: #BFBFBF 0.5pt dotted; border-left: #BFBFBF 0.5pt dotted; text-align: right">0.2</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Standard Eni Refining Margin (SERM)</TD>
    <TD STYLE="font-size: 8pt; text-align: center">$/bbl</TD>
    <TD STYLE="border-left: #BFBFBF 0.5pt dotted; background-color: rgb(242,242,242); text-align: right">(0.6)</TD>
    <TD STYLE="text-align: right">3.6</TD>
    <TD STYLE="border-right: #BFBFBF 0.5pt dotted; text-align: right">..</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #C00000; font-weight: bold; border-right: #BFBFBF 0.5pt dotted; border-left: #BFBFBF 0.5pt dotted; text-align: right">1,713</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Hydrocarbon production</TD>
    <TD STYLE="font-size: 8pt; text-align: center">kboe/d</TD>
    <TD STYLE="border-left: #BFBFBF 0.5pt dotted; background-color: rgb(242,242,242); color: #C00000; font-weight: bold; text-align: right">1,704</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">1,790</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-right: #BFBFBF 0.5pt dotted; text-align: right">(5)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #C00000; font-weight: bold; border-top: Black 0.5pt solid; border-right: #BFBFBF 0.5pt dotted; border-left: #BFBFBF 0.5pt dotted; text-align: right">488</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; border-top: Black 0.5pt solid; text-align: left">Adjusted operating profit (loss) &#8317;&#7491;&#8318;</TD>
    <TD STYLE="font-size: 8pt; border-top: Black 0.5pt solid; text-align: center">&euro; million</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-left: #BFBFBF 0.5pt dotted; background-color: rgb(242,242,242); color: #C00000; font-weight: bold; text-align: right">1,321</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-top: Black 0.5pt solid; text-align: right">1,307</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-top: Black 0.5pt solid; border-right: #BFBFBF 0.5pt dotted; text-align: right">1</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-style: italic; border-right: #BFBFBF 0.5pt dotted; border-left: #BFBFBF 0.5pt dotted; text-align: right">802</TD>
    <TD STYLE="padding-left: 72px; font-style: italic; text-align: left">E&amp;P</TD>
    <TD STYLE="font-size: 8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-left: #BFBFBF 0.5pt dotted; background-color: rgb(242,242,242); font-style: italic; text-align: right">1,378</TD>
    <TD STYLE="font-style: italic; text-align: right">1,037</TD>
    <TD STYLE="font-style: italic; border-right: #BFBFBF 0.5pt dotted; text-align: right">33</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-style: italic; border-right: #BFBFBF 0.5pt dotted; border-left: #BFBFBF 0.5pt dotted; text-align: right">(101)</TD>
    <TD STYLE="padding-left: 72px; font-style: italic; text-align: left">Global Gas &amp; LNG Portfolio (GGP)</TD>
    <TD STYLE="font-size: 8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-left: #BFBFBF 0.5pt dotted; background-color: rgb(242,242,242); font-style: italic; text-align: right">(30)</TD>
    <TD STYLE="font-style: italic; text-align: right">233</TD>
    <TD STYLE="font-style: italic; border-right: #BFBFBF 0.5pt dotted; text-align: right">..</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-style: italic; border-right: #BFBFBF 0.5pt dotted; border-left: #BFBFBF 0.5pt dotted; text-align: right">(104)</TD>
    <TD STYLE="padding-left: 72px; font-style: italic; text-align: left">R&amp;M and Chemicals</TD>
    <TD STYLE="font-size: 8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-left: #BFBFBF 0.5pt dotted; background-color: rgb(242,242,242); font-style: italic; text-align: right">(120)</TD>
    <TD STYLE="font-style: italic; text-align: right">16</TD>
    <TD STYLE="font-style: italic; border-right: #BFBFBF 0.5pt dotted; text-align: right">..</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-style: italic; border-right: #BFBFBF 0.5pt dotted; border-bottom: Black 0.5pt solid; border-left: #BFBFBF 0.5pt dotted; text-align: right">132</TD>
    <TD STYLE="padding-left: 72px; font-style: italic; border-bottom: Black 0.5pt solid; text-align: left; border-left-color: #BFBFBF; border-left-width: 0.5pt">Eni gas e luce, Power &amp; Renewables</TD>
    <TD STYLE="font-size: 8pt; border-bottom: Black 0.5pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; border-left: #BFBFBF 0.5pt dotted; background-color: rgb(242,242,242); font-style: italic; text-align: right">202</TD>
    <TD STYLE="font-style: italic; border-bottom: Black 0.5pt solid; text-align: right">191</TD>
    <TD STYLE="font-style: italic; border-right: #BFBFBF 0.5pt dotted; border-bottom: Black 0.5pt solid; text-align: right">6</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #C00000; font-weight: bold; border-right: #BFBFBF 0.5pt dotted; border-left: #BFBFBF 0.5pt dotted; text-align: right">50</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Adjusted net profit (loss) &#8317;&#7491;&#8318; &#8317;&#7495;&#8318;</TD>
    <TD STYLE="font-size: 8pt; color: #C00000; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-left: #BFBFBF 0.5pt dotted; background-color: rgb(242,242,242); color: #C00000; font-weight: bold; text-align: right">270</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">59</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-right: #BFBFBF 0.5pt dotted; text-align: right">358</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-style: italic; border-right: #BFBFBF 0.5pt dotted; border-left: #BFBFBF 0.5pt dotted; text-align: right">0.01</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">&nbsp;&nbsp;per share - diluted (&euro;)&nbsp;</TD>
    <TD STYLE="font-size: 8pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-left: #BFBFBF 0.5pt dotted; background-color: rgb(242,242,242); font-style: italic; text-align: right">0.08</TD>
    <TD STYLE="font-style: italic; text-align: right">0.02</TD>
    <TD STYLE="font-style: italic; border-right: #BFBFBF 0.5pt dotted; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; border-right: #BFBFBF 0.5pt dotted; border-left: #BFBFBF 0.5pt dotted; text-align: right">(797)</TD>
    <TD STYLE="padding-left: 18px; font-weight: bold; text-align: left">Net profit (loss) &#8317;&#7495;&#8318;</TD>
    <TD STYLE="font-size: 8pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-left: #BFBFBF 0.5pt dotted; background-color: rgb(242,242,242); font-weight: bold; text-align: right">856</TD>
    <TD STYLE="font-weight: bold; text-align: right">(2,929)</TD>
    <TD STYLE="font-weight: bold; border-right: #BFBFBF 0.5pt dotted; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-style: italic; border-right: #BFBFBF 0.5pt dotted; border-bottom: Black 0.5pt solid; border-left: #BFBFBF 0.5pt dotted; text-align: right">(0.22)</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; border-bottom: Black 0.5pt solid; text-align: left">&nbsp;&nbsp;&nbsp;per share - diluted (&euro;)&nbsp;</TD>
    <TD STYLE="font-size: 8pt; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; border-left: #BFBFBF 0.5pt dotted; background-color: rgb(242,242,242); font-style: italic; text-align: right">0.24</TD>
    <TD STYLE="font-style: italic; border-bottom: Black 0.5pt solid; text-align: right">(0.82)</TD>
    <TD STYLE="font-style: italic; border-right: #BFBFBF 0.5pt dotted; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #C00000; font-weight: bold; border-right: #BFBFBF 0.5pt dotted; border-left: #BFBFBF 0.5pt dotted; text-align: right">1,582</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Cash flow from operations before changes in working capital at replacement cost &#8317;&#7491;&#8318;</TD>
    <TD STYLE="font-size: 8pt; color: #C00000; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-left: #BFBFBF 0.5pt dotted; background-color: rgb(242,242,242); color: #C00000; font-weight: bold; text-align: right">1,960</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">2,222</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-right: #BFBFBF 0.5pt dotted; text-align: right">(12)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #C00000; font-weight: bold; border-right: #BFBFBF 0.5pt dotted; border-left: #BFBFBF 0.5pt dotted; text-align: right">988</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Net cash from operations&nbsp;</TD>
    <TD STYLE="font-size: 8pt; color: #C00000; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-left: #BFBFBF 0.5pt dotted; background-color: rgb(242,242,242); color: #C00000; font-weight: bold; text-align: right">1,376</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">975</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-right: #BFBFBF 0.5pt dotted; text-align: right">41</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: #BFBFBF 0.5pt dotted; border-left: #BFBFBF 0.5pt dotted; text-align: right">1,206</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Net capital expenditure &#8317;&#7580;&#8318; &#8317;&#7496;&#8318;</TD>
    <TD STYLE="font-size: 8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-left: #BFBFBF 0.5pt dotted; background-color: rgb(242,242,242); text-align: right">1,387</TD>
    <TD STYLE="text-align: right">1,905</TD>
    <TD STYLE="border-right: #BFBFBF 0.5pt dotted; text-align: right">(27)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: #BFBFBF 0.5pt dotted; border-left: #BFBFBF 0.5pt dotted; text-align: right">11,568</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Net borrowings before lease liabilities ex IFRS 16</TD>
    <TD STYLE="font-size: 8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-left: #BFBFBF 0.5pt dotted; background-color: rgb(242,242,242); text-align: right">12,239</TD>
    <TD STYLE="text-align: right">12,920</TD>
    <TD STYLE="border-right: #BFBFBF 0.5pt dotted; text-align: right">(5)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: #BFBFBF 0.5pt dotted; border-left: #BFBFBF 0.5pt dotted; text-align: right">16,586</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Net borrowings after lease liabilities ex IFRS 16</TD>
    <TD STYLE="font-size: 8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-left: #BFBFBF 0.5pt dotted; background-color: rgb(242,242,242); text-align: right">17,507</TD>
    <TD STYLE="text-align: right">18,681</TD>
    <TD STYLE="border-right: #BFBFBF 0.5pt dotted; text-align: right">(6)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: #BFBFBF 0.5pt dotted; border-left: #BFBFBF 0.5pt dotted; text-align: right">37,493</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Shareholders' equity including non-controlling interest</TD>
    <TD STYLE="font-size: 8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="border-left: #BFBFBF 0.5pt dotted; background-color: rgb(242,242,242); text-align: right">39,957</TD>
    <TD STYLE="text-align: right">45,385</TD>
    <TD STYLE="border-right: #BFBFBF 0.5pt dotted; text-align: right">(12)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; border-right: #BFBFBF 0.5pt dotted; border-left: #BFBFBF 0.5pt dotted; text-align: right">0.31</TD>
    <TD STYLE="padding-left: 18px; font-weight: bold; text-align: left">Leverage before lease liabilities ex IFRS 16</TD>
    <TD STYLE="font-size: 8pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-left: #BFBFBF 0.5pt dotted; background-color: rgb(242,242,242); font-weight: bold; text-align: right">0.31</TD>
    <TD STYLE="font-weight: bold; text-align: right">0.28</TD>
    <TD STYLE="font-weight: bold; border-right: #BFBFBF 0.5pt dotted; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-right: #BFBFBF 0.5pt dotted; border-bottom: Black 2pt double; border-left: #BFBFBF 0.5pt dotted; font-weight: bold; text-align: right">0.44</TD>
    <TD STYLE="border-bottom: Black 2pt double; padding-left: 18px; font-weight: bold; text-align: left">Leverage after lease liabilities ex IFRS 16</TD>
    <TD STYLE="border-bottom: Black 2pt double; font-size: 8pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; border-left: #BFBFBF 0.5pt dotted; background-color: rgb(242,242,242); font-weight: bold; text-align: right">0.44</TD>
    <TD STYLE="border-bottom: Black 2pt double; font-weight: bold; text-align: right">0.41</TD>
    <TD STYLE="border-right: #BFBFBF 0.5pt dotted; border-bottom: Black 2pt double; font-weight: bold; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: top">
    <TD COLSPAN="6" STYLE="font-size: 8pt; text-align: left">(a) Non-GAAP measure. For further information see the paragraph &quot;Non-GAAP measures&quot; on page 17.</TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: top">
    <TD COLSPAN="3" STYLE="font-size: 8pt; text-align: left">(b) Attributable to Eni's shareholders.</TD>
    <TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD STYLE="font-size: 8pt">&nbsp;</TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: middle">
    <TD COLSPAN="6" STYLE="font-size: 8pt; text-align: left">(c) Include capital contribution to equity accounted entities.</TD></TR>
  <TR STYLE="font-size: 8pt; vertical-align: bottom">
    <TD COLSPAN="6" STYLE="font-size: 8pt; text-align: left">(d) Net of expenditures relating to business combinations, purchase of minority interests and other non-organic items.</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/112% Times New Roman, Times, Serif; margin: 3pt 0 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 112%"></FONT></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Eni's Board of Directors, chaired by Lucia Calvosa,
yesterday approved the unaudited consolidated results for the first quarter of 2021. Having examined the results, Eni CEO Claudio Descalzi
said:</P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&ldquo;The first quarter of 2021 has been
significantly impacted by ongoing national lockdowns, however despite this Eni has achieved significantly improved results, most notably
driven by E&amp;P and the chemicals business. Meanwhile, our retail G&amp;P business continued to grow steadily, with year-on-year EBIT
increasing by 19% as we leverage our unique and expanding customer base in the power segment and benefit from a greater contribution from
extra-commodity services.</I></P>

<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>The performance of R&amp;M was largely driven
by lower demand for fuels across Europe due to the pandemic, plus negative refining margins. Against the backdrop of an ongoing complex
scenario, adjusted EBIT of &euro;1.3 billion is in line with the first quarter of last year and three times higher than the fourth quarter
of 2020, while net profit grew to &euro;270 million, an almost five times increase compared to the first quarter of 2020. Across the quarter,
we generated around &euro;2 billion of organic cash flow before working capital, significantly larger than the &euro;1.4 billion of expenditure
incurred during the same period. With the pandemic situation gradually improving, and a broadening economic recovery looking more likely,
we have been able to improve our outlook for the coming months, forecasting free cash flow generation in 2021 of more than &euro;3 billion
under a Brent scenario of 60 $/bbl. In this environment, we will continue implementing our decarbonization and energy transition strategy,
maintaining a strong focus on the robustness of the balance sheet and targeting a competitive distribution policy to our shareholders.&rdquo;</I></P>

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<P STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 2.5pt; width: 5in; background-color: rgb(255,213,29); vertical-align: bottom; font-weight: bold; text-align: left"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>Quarterly highlights</B></P>

</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</p>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">A <B>strengthened upstream price environment</B>
in the first quarter 2021 was driven by a recovery in the main market benchmarks: the Brent crude at 61 $/bbl on average was up by 21%
and 38% respectively from the first quarter and fourth quarter 2020. Eni&rsquo;s hydrocarbons realized prices did not capture this improvement
entirely due to the appreciation of the cross-rate EUR vs. USD which was up by about 10%.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 3pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Eni&rsquo;s benchmark refining margin &ldquo;SERM&rdquo;</B>
was in negative territory (down to minus 0.6 $/bbl) due to the impact of lockdowns and a delayed recovery in air traffic.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 3pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Adjusted EBIT: </B>&euro;1.3 billion in the
first quarter of 2021, a strong improvement from the fourth quarter of 2020 (up by 171%) with flat hydrocarbon production (1.7 million
boe/d).</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 3pt 0 0 35.7pt; text-align: justify">The first quarter 2021 EBIT was
unchanged from the first quarter 2020 notwithstanding 86 kboe/d of lower production, mainly in liquids, and the negative performances
of R&amp;M (down by &euro;240 million) driven by an unfavourable refining scenario (the SERM was negative) and lower sales volumes due
to regional lockdowns (a 10% decrease at the network of service stations), and of the GGP business which was down by &euro;263 million
mainly due to one-off positive contributions from portfolio optimization in the year-ago quarter and narrowing spreads between the PSV
vs. the TTF spot gas prices.</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 3pt 0 0 35.7pt; text-align: justify">The E&amp;P segment EBIT was up
by &euro;341 million due to higher crude oil prices. Versalis (up by &euro;104 million) responded to the unusual industry-wide disruption
from extreme winter weather in the US by leveraging on higher plant availability against the backdrop of an improving demand for commodities.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 3pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Adjusted net profit</B>: &euro;270 million,
almost five-fold the result reported in the first quarter 2020.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 3pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Cash flow from operations before changes in
working capital at replacement cost</B>: &euro;1.96 billion and net capex of &euro;1.4 billion (-27% vs. IQ 2020). Organic free cash flow
generation was robust at approximately &euro;600 million before changes in working capital.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 3pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Portfolio</B>: net cash outflows of about
&euro;400 million, fully invested in the green business.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 3pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Net borrowings ante IFRS 16</B>: &euro;12.2
billion, a slight increase vs. December 31, 2020 due to the financing of M&amp;A transactions and currency translation effects. Leverage
was flat at 31%.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 0 35.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 3pt 0 0 35.7pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 2.5pt; background-color: rgb(255,213,29); vertical-align: bottom; font-weight: bold; text-align: left; width: 5in"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>Outlook 2021</B></P>

</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</p>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The rebalancing of the global oil market and
a recovery in fuel consumption in the course of 2021 are exposed to continued risk from the ongoing impact of the COVID-19 pandemic in
a number of large global economies, such as in multiple West European countries that are still in lockdown, as well as new restrictions
being reimposed in other parts of the world.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 3pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Reaffirming the guidance for hydrocarbon production
at about 1.7 million boe/d for the FY, assuming OPEC+ cuts of about 35 kboe/d through the year on average, and an organic capex spending
forecast for 2021 of approximately &euro;6 billion; forecast cash flow from operations before working capital requirements at replacement
cost higher than &euro;9 billion at current Brent prices of 60 $/bbl. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 3pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Cash neutrality at a Brent price of 51 $/bbl
to fund organic capex and the floor dividend.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 3pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.85pt"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The outlook for oil prices will be reassessed
in Eni&rsquo;s 2021 interim report in July for the purpose of establishing the variable dividend as well as in view of the possible resumption
of the buy-back of the Eni share. The floor dividend set at &euro;0.36 per share will be complemented by a variable dividend, which amount
will increase when the Brent reference price for 2021 rises above the threshold of 43 $/bbl. The share buy-back program is expected to
resume with a Brent reference price 2021 of at least 56 $/bbl. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="padding: 2.5pt; background-color: rgb(255,213,29); vertical-align: bottom; font-weight: bold; text-align: left; width: 5in"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>Business overview</B></P>

</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</p>
<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-align: justify; color: rgb(192,0,0)">Exploration &amp; Production</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; font-size: 10pt; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Hydrocarbon production in
the first quarter</B>: 1.7 million boe/day, down by approximately 4% compared to the same period of 2020 (net of OPEC+ production cuts,
positive price effects at PSAs and marginal portfolio effects) due to</FONT> a <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">slowdown
in expenditures for the development of reserves, partly offset by a strong recovery of natural gas production in Egypt spurred by higher
demands.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 3pt 0 0 14.2pt; text-align: justify"><B>Production at the Zohr gas field
achieved a record </B>3,200 mmscf/d, at full capacity.</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 3pt 0 0 14.2pt; text-align: justify">In April, started-up the <B>Merakes</B>
gas field offshore Indonesia, in synergy with the Jangkrik FPU.</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 3pt 0 0 14.2pt; text-align: justify">In the first quarter 2021, <B>start-ups
and ramp-ups</B> added 33 kboe/d mainly due to Berkine in Algeria, Agogo in Angola, and the Mahani gas project (Eni&rsquo;s interest 50%),
in the Sharjah Emirate (UAE), which was started just one year after discovery.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Exploration successes</B>: in line with the
exploration strategy focused on areas and basins close to existing infrastructure (infrastructure-led-exploration) and short time-to-market,
in the first quarter of 2021, we delivered:</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 3pt; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 14.2pt"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="color: #666666">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the <B>Cuica-1</B> oil discovery
in the operated block 15/06 (Eni's interest 36.84%) off <B>Angola</B>, the second discovery in the Caba&ccedil;a development area, which
will allow for the extension of the useful life of the FPSO operating the field;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 3pt; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 14.2pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="color: #666666">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>two oil discoveries off Norway
made by the JV V&aring;r Energi</B> close to producing assets in the Blasto Main prospect in the North Sea and Isflak in the Barents Sea,
with reserves of oil in place expected to be in the range of 200-350 million of barrels.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Renewal of exploration portfolio with approximately
9,000 square kilometers of new leases:</B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 3pt; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 14.2pt"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="color: #666666">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>the United Arab Emirates</B>:
assigned Block 7 (Eni's interest 90%), located in the Ras Al Khaimah onshore area;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 3pt; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 14.2pt"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="color: #666666">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Vietnam</B>: completed the
acquisition as operator of the Block 115/09 (Eni's interest 100%), in the Song Hong basin;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 3pt; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 14.2pt"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="color: #666666">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>United Kingdom</B>: awarded
the operatorship of the P2511 exploration license (Eni's interest 100%) in the North Sea;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 3pt; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 14.2pt"></TD><TD STYLE="width: 17.85pt"><FONT STYLE="color: #666666">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Norway</B>: awarded to the
JV V&aring;r Energi ten new exploration licenses, of which two as operator in the North Sea and three as operator in the Barents Sea.
The licenses acquired are located nearly areas in production or under development.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Portfolio rationalization</B>:</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 3pt; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 14.2pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="color: #666666">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Pakistan</B>: signed an agreement
to divest to a local player the entire upstream activity in the Country, including interests in eight development and production licenses
and in four exploration licenses.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 3pt; margin-bottom: 3pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 14.2pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="color: #666666">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Nigeria</B>: divested the
onshore production and development block OML 17 (Eni&rsquo;s interest 5%).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Received funding from UK Research and Innovation
(UKRI)</B>, the UK Government's body that supports research and innovation in the country, to fund part of ongoing planning and projects
studies relating to the development of the integrated HyNet North West project aimed at the realization of carbon capture and storage
(CCS) infrastructure in the UK. Eni will be the operator of the transporting and storing activities of the CO<SUB>2</SUB>&nbsp;in its
depleted hydrocarbon reservoirs, located at around 30 kilometers offshore the Liverpool Bay.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>E&amp;P&rsquo;s adjusted operating profit
</B>continued rebounding in the first quarter 2021 at &euro;1.38 billion, up by approximately 70% compared to the fourth quarter 2020.
The comparison against the previous year reporting period (up by 33%) was driven by a recovery in the scenario for hydrocarbon prices.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 12pt 0 6pt; text-align: justify; color: #C00000"></P>

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<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-align: justify; color: rgb(192,0,0)">Global Gas &amp; LNG
Portfolio</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In March 2021, it was agreed with the Arab Republic
of Egypt (ARE) and the Spanish partner Naturgy of the JV Uni&oacute;n Fenosa Gas to resolve all pending issues with the Egyptian partners
and to resume operations at the <B>Damietta liquefaction plant</B>. A few LNG loadings have been made already.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Through the subsequent restructuring of the UFG
venture, Eni acquired a 50% interest in the Damietta plant and related liquefaction capacity as well as the gas marketing activities in
Spain owned by UFG. The deal will strengthen Eni&rsquo;s portfolio of LNG and its integrated strategy, leveraging on the integration with
its upstream assets.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>GGP&rsquo;s adjusted operating result</B>:
was a loss of &euro;30 million in the first quarter, worse than the performance achieved in the first quarter 2020 (down by &euro;263
million), due to one-off positive contributions from portfolio optimization in the year-ago quarter and narrowing spreads between the
PSV vs. the TTF spot gas prices.</FONT></TD></TR></TABLE>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-align: justify; color: rgb(192,0,0)">Refining &amp; Marketing
and Chemicals</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Started up a new Biomass Treatment Unit at the
<B>Gela bio-refinery</B> enabling the use up to 100% of biomass&nbsp;not in competition with the food chain for the production of biofuels.
</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The construction of new units for the enhancement
of the feedstock pre-treatment facilities at the <B>Venice bio-refinery</B> are currently under evaluation, aiming at increasing the plant
flexibility to achieve zero use of palm oil to manufacture biofuels by 2023.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In line with Eni&rsquo;s growth strategy in circular
economy, signed an agreement for the acquisition of <B>FRI-EL Biogas Holding</B>, the Italian leader in the biogas producing sector, in
order to transform biogas into biomethane to be supplied to the Eni&rsquo;s network. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Launched a n<FONT STYLE="color: #333333; background-color: white">ew
ra</FONT>nge of solid polystyrene products for food packaging as part of the <B>Versalis Revive</B><SUP>&reg;</SUP> <B>products</B>, containing
up to 75% of recycled solid polystyrene. This new product developed by Versalis and Forever Plast S.p.A., is the result of the collaboration
with a number of partners engaged in the polystyrene recycling business, such as Corepla, Pro Food and Unionplast. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>R&amp;M&rsquo;s adjusted operating result:
</B>adjusted operating loss of &euro;159 million in the first quarter, a marked decline compared to first quarter of 2020 due to an unfavorable
refining scenario and lower sales volumes due to an ongoing crisis in fuel demand in the main reference markets (Italy and Western Europe)
due to COVID-19 mitigation measures.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Chemicals&rsquo; adjusted operating result</B>:
rebounded strongly delivering an adjusted operating profit of &euro;39 million, compared to a loss of &euro;65 million reported in the
first quarter of 2020, as the business took advantage from unusual industry-wide disruption from extreme winter weather in the US by higher
plants availability and from a spike in commodity prices, against the backdrop of a mild recovery of demand for plastics across all end-markets.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 6pt 0 0 14.2pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/13pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-align: justify; color: rgb(192,0,0)">Eni gas e luce, Power &amp;
Renewables</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Entered the Iberic energy market with the signing
of an agreement to acquire 100% of <B>Aldro Energ&iacute;a</B>, with a portfolio of approximately 250,000 retail customers of power, natural
gas and services, and an agreement with <B>X&ndash;Elio</B> for the acquisition of three photovoltaic projects for an overall capacity
of 140 MW.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Agreement with the Italian operator <B>Be Charge,
</B>to increase the national supply of charging infrastructures for electric mobility. The charging stations will be powered by renewable
energy supplied by Eni gas e luce.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Established <B>GreenIT</B>, a joint venture with
the Italian agency CDP Equity, for building, commissioning and managing power generation plants from renewable sources in Italy. The JV
will target an installed capacity of approximately 1 GW.</FONT></TD></TR></TABLE>
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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Retail portfolio</B> substantially in line
with the end of 2020, with 9.56 million of PoD. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Expansion of the generation capacity in renewable
energies</B>: as of March 31, 2021, reached an installed capacity of 307 MW (up by 56 MW compared to March 31, 2020). More than 1 GW of
capacity already installed or sanctioned.</FONT></TD></TR></TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 6pt; margin-bottom: 6pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0"></TD>
    <TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD>
    <TD STYLE="text-align: justify">
<FONT STYLE="font-family: Times New Roman, Times, Serif"><B>EGL, Power &amp; Renewables&rsquo; adjusted operating result</B>: &euro;202
million in the first quarter of 2021, up by 6% compared to the same period of 2020, notwithstanding a still weak recovery of the Italian
economy. </FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 6pt 21.3pt; text-align: justify; text-indent: -21.3pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 2.5pt; width: 5in; background-color: rgb(255,213,29); vertical-align: bottom; font-weight: bold; text-align: left"><P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>Business segments operating results</B></P>

</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</p>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0 0 6pt"><B>Exploration &amp; Production</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; color: rgb(192,0,0)"><B>Production and prices</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="white-space: nowrap; text-align: right; vertical-align: bottom"><B>IVQ</B></TD>
    <TD STYLE="white-space: nowrap; padding-left: 18px">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; font-weight: bold; text-align: center">IQ&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="white-space: nowrap; text-align: right; border-bottom: Black 1pt solid; font-weight: bold; vertical-align: bottom">2020</TD>
    <TD COLSPAN="2" STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: right; background-color: #F2F2F2">2021</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2020</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; font-weight: bold; text-align: right">% Ch.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="white-space: nowrap; text-align: right; width: 9%; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-left: 18px; font-weight: bold; text-align: left; border-top-color: black; border-top-width: 1pt; width: 55%">Production</TD>
    <TD STYLE="white-space: nowrap; border-top-color: black; border-top-width: 1pt; width: 9%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top-color: black; border-top-width: 1pt; background-color: #F2F2F2; width: 9%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top-color: black; border-top-width: 1pt; width: 9%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top-color: black; border-top-width: 1pt; width: 9%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="white-space: nowrap; text-align: right; vertical-align: bottom">809</TD>
    <TD STYLE="white-space: nowrap; padding-left: 18px; text-align: left">Liquids</TD>
    <TD STYLE="white-space: nowrap; text-align: left">kbbl/d</TD>
    <TD STYLE="white-space: nowrap; text-align: right; background-color: #F2F2F2">814</TD>
    <TD STYLE="white-space: nowrap; text-align: right">892</TD>
    <TD STYLE="white-space: nowrap; text-align: right">(9)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="white-space: nowrap; text-align: right; vertical-align: bottom">4,800</TD>
    <TD STYLE="white-space: nowrap; padding-left: 18px; text-align: left">Natural gas&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: left">mmcf/d</TD>
    <TD STYLE="white-space: nowrap; text-align: right; background-color: #F2F2F2">4,726</TD>
    <TD STYLE="white-space: nowrap; text-align: right">4,768</TD>
    <TD STYLE="white-space: nowrap; text-align: right">(1)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 1pt solid; padding-left: 0; color: #C00000; font-weight: bold; text-align: right">1,713</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Hydrocarbons</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; text-align: left">kboe/d</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; color: #C00000; font-weight: bold; text-align: right; background-color: #F2F2F2">1,704</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; color: #C00000; font-weight: bold; text-align: right">1,790</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; color: #C00000; font-weight: bold; text-align: right">(5)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="white-space: nowrap; text-align: right; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-left: 18px; font-weight: bold; text-align: left">Average realizations&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; background-color: #F2F2F2">&nbsp;</TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="white-space: nowrap; text-align: right; vertical-align: bottom">41.57</TD>
    <TD STYLE="white-space: nowrap; padding-left: 18px; text-align: left">Liquids</TD>
    <TD STYLE="white-space: nowrap; text-align: left">$/bbl</TD>
    <TD STYLE="white-space: nowrap; text-align: right; background-color: #F2F2F2">57.23</TD>
    <TD STYLE="white-space: nowrap; text-align: right">43.58</TD>
    <TD STYLE="white-space: nowrap; text-align: right">31</TD></TR>
  <TR>
    <TD STYLE="white-space: nowrap; text-align: right; vertical-align: bottom">3.92</TD>
    <TD STYLE="white-space: nowrap; padding-left: 18px; vertical-align: middle; text-align: left">Natural gas</TD>
    <TD STYLE="white-space: nowrap; vertical-align: middle; text-align: left">$/kcf</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right; background-color: #F2F2F2">4.55</TD>
    <TD STYLE="white-space: nowrap; vertical-align: bottom; text-align: right">4.28</TD>
    <TD STYLE="white-space: nowrap; vertical-align: middle; text-align: right">6</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="white-space: nowrap; vertical-align: bottom; border-bottom: Black 2pt double; padding-left: 0; color: #C00000; font-weight: bold; text-align: right">31.55</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 2pt double; padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Hydrocarbons</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 2pt double; text-align: left">$/boe</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 2pt double; color: #C00000; font-weight: bold; text-align: right; background-color: #F2F2F2">40.80</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 2pt double; color: #C00000; font-weight: bold; text-align: right">33.71</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 2pt double; color: #C00000; font-weight: bold; text-align: right">21</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In the quarter <B>oil and natural gas production
</B>averaged 1.704 million boe/d and decreased by 5% compared to the first quarter of 2020. Net of positive price effects, the decrease
was 6% driven by the need to comply with OPEC+ production cuts and marginal portfolio effects (overall effect of two percentage points),
a spending slowdown in the development of reserves with lower contributions from Nigeria, Kazakhstan, and Angola, as well as mature field
declines. These negatives were partly offset by continuing production ramp-up in Mexico, better contribution of Libya and increased gas
supplies to Egypt spurred by a demand recovery in the local market. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Liquids production</B> in the quarter was
814 kbbl/d, down by 9% from the first quarter 2020. The reduction was due to an expenditure slowdown, the effect of OPEC+ production cuts,
as well as mature field declines partly offset by continuing production ramp-up in Area 1 in Mexico, and growth in Libya.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Natural gas production</B> in the first quarter
amounted to 4,726 mmcf/d, slightly decreased compared to the first quarter of 2020. Lower production was partly offset by a robust recovery
of natural gas demand in certain areas (mainly in Egypt), and growth in Algeria due to the start-up of the Berkine gas project.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify; color: #C00000"></P>

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<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: justify; color: #C00000"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; color: rgb(192,0,0)"><B>Results</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: right">IVQ&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">IQ&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; vertical-align: middle; text-align: right; width: 10%">2020</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; width: 60%">(&euro; million)</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(242,242,242); font-weight: bold; vertical-align: middle; text-align: right; width: 10%">2021</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; vertical-align: middle; text-align: right; width: 10%">2020</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; vertical-align: middle; text-align: right; width: 10%">% Ch.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; border-top-color: black; border-top-width: 1pt">554</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Operating profit (loss)&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; text-align: right; border-top-color: black; border-top-width: 1pt">1,396</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; border-top-color: black; border-top-width: 1pt">715</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; border-top-color: black; border-top-width: 1pt">95</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right">248</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Exclusion of special items</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(18)</TD>
    <TD STYLE="text-align: right">322</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">802</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Adjusted operating profit (loss)&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; text-align: right">1,378</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">1,037</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">33</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right">(45)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Net finance (expense) income</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(96)</TD>
    <TD STYLE="text-align: right">(115)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right">161</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Net income (expense) from investments</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">90</TD>
    <TD STYLE="text-align: right">(59)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-style: italic; text-align: right">148</TD>
    <TD STYLE="padding-left: 36px; font-style: italic; text-align: left">of which: - V&aring;r Energi</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">62</TD>
    <TD STYLE="font-style: italic; text-align: right">(37)</TD>
    <TD STYLE="font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right">(290)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Income taxes</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(642)</TD>
    <TD STYLE="text-align: right">(651)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #C00000; font-weight: bold; border-top: gray 0.5pt solid; border-bottom: gray 0.5pt solid; text-align: right">628</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; border-top: gray 0.5pt solid; border-bottom: gray 0.5pt solid; text-align: left">Adjusted net profit (loss)&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; border-top: gray 0.5pt solid; border-bottom: gray 0.5pt solid; text-align: right">730</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-top: gray 0.5pt solid; border-bottom: gray 0.5pt solid; text-align: right">212</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-top: gray 0.5pt solid; border-bottom: gray 0.5pt solid; text-align: right">244</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Results also include:</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">48</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Exploration expenses:</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; text-align: right">41</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">175</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">(77)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right">53</TD>
    <TD STYLE="padding-left: 18px; text-align: left">- prospecting, geological and geophysical expenses</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">39</TD>
    <TD STYLE="text-align: right">55</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right">(5)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">- write-off of unsuccessful wells&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">2</TD>
    <TD STYLE="text-align: right">120</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #C00000; font-weight: bold; border-top: gray 0.5pt solid; border-bottom: #0D0D0D 2pt double; text-align: right">781</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; border-top: gray 0.5pt solid; border-bottom: #0D0D0D 2pt double; text-align: left">Capital expenditure</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; border-top: gray 0.5pt solid; border-bottom: #0D0D0D 2pt double; text-align: right">856</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-top: gray 0.5pt solid; border-bottom: #0D0D0D 2pt double; text-align: right">1,258</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-top: gray 0.5pt solid; border-bottom: #0D0D0D 2pt double; text-align: right">(32)</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In the first quarter of 2021, the recovery in
the profitability of the <B>Exploration &amp; Production </B>has strengthened as signaled by a 70% increase in the <B>adjusted operating
profit </B>of &euro;1,378 million from the fourth quarter 2020. The increase over the same period a year ago was also remarkable, up by
33%, driven by an improving crude oil price environment (the marker Brent up by 21%) supported by an acceleration in the global economic
activity and active supply management by OPEC+ countries. Against this backdrop, E&amp;P realized prices of liquids increased by 31%,
whereas natural gas realized prices increased by just 6% due to time-lags in oil-linked pricing formulas. The positive trend in the pricing
environment was softened by a stronger Euro (up by 9% versus the USD) and lower production volumes driven by capital discipline in developing
hydrocarbons reserves and the effects of OPEC+ production quotas. The result was helped by a reduction in the cost base and lower write-offs
of exploration expenditures relating unsuccessful wells.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The segment reported an <B>adjusted net profit
</B>of &euro;730 million in the first quarter of 2021, more than three-fold the result of the first quarter of 2020 due to a recovery
in operating profit, better results of the V&aring;r Energi JV (up &euro;99 million) supported by the scenario and a lower tax rate due
to a more favorable geographical mix of profits, which lowered the relative weigh of jurisdictions characterized by higher tax rates.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #C00000">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">For the disclosure on business segment special charges, see page 12.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 3pt"><B>Global Gas &amp; LNG Portfolio</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; color: rgb(192,0,0)"><B>Sales</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #C00000"><B></B></FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: right">IVQ&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">IQ&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2020</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(242,242,242); font-weight: bold; text-align: right">2021</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2020</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">% Ch.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: right; width: 10%">153</TD>
    <TD STYLE="padding-left: 18px; font-weight: bold; text-align: left; width: 50%">Spot Gas price at Italian PSV</TD>
    <TD STYLE="font-size: 8pt; text-align: right; width: 10%">&euro;/kcm</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-weight: bold; text-align: right; width: 10%">198</TD>
    <TD STYLE="font-weight: bold; text-align: right; width: 10%">120</TD>
    <TD STYLE="font-weight: bold; text-align: right; width: 10%">65</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: right">154</TD>
    <TD STYLE="padding-left: 18px; font-weight: bold; text-align: left">TTF</TD>
    <TD STYLE="font-size: 8pt; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-weight: bold; text-align: right">195</TD>
    <TD STYLE="font-weight: bold; text-align: right">103</TD>
    <TD STYLE="font-weight: bold; text-align: right">89</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: right">(1)</TD>
    <TD STYLE="padding-left: 18px; font-weight: bold; text-align: left">Spread PSV vs. TTF</TD>
    <TD STYLE="font-size: 8pt; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-weight: bold; text-align: right">3</TD>
    <TD STYLE="font-weight: bold; text-align: right">17</TD>
    <TD STYLE="font-weight: bold; text-align: right">(82)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; font-weight: bold; vertical-align: middle; text-align: left">Natural gas sales</TD>
    <TD STYLE="font-size: 8pt; vertical-align: middle; text-align: right">bcm</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: right">8.65</TD>
    <TD STYLE="padding-left: 18px; vertical-align: middle; text-align: left">Italy</TD>
    <TD STYLE="font-size: 8pt; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); vertical-align: middle; text-align: right">8.66</TD>
    <TD STYLE="vertical-align: middle; text-align: right">8.97</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(3)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: right">8.26</TD>
    <TD STYLE="padding-left: 18px; vertical-align: middle; text-align: left">Rest of Europe</TD>
    <TD STYLE="font-size: 8pt; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); vertical-align: middle; text-align: right">7.59</TD>
    <TD STYLE="vertical-align: middle; text-align: right">6.67</TD>
    <TD STYLE="vertical-align: middle; text-align: right">14</TD></TR>
  <TR>
    <TD STYLE="font-style: italic; vertical-align: bottom; text-align: right">0.94</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; vertical-align: bottom; text-align: left">of which: Importers in Italy</TD>
    <TD STYLE="font-size: 8pt; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; vertical-align: middle; text-align: right">0.80</TD>
    <TD STYLE="font-style: italic; vertical-align: middle; text-align: right">0.96</TD>
    <TD STYLE="font-style: italic; vertical-align: middle; text-align: right">(17)</TD></TR>
  <TR>
    <TD STYLE="font-style: italic; vertical-align: bottom; text-align: right">7.32</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; vertical-align: bottom; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;European markets</TD>
    <TD STYLE="font-size: 8pt; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; vertical-align: middle; text-align: right">6.79</TD>
    <TD STYLE="font-style: italic; vertical-align: middle; text-align: right">5.71</TD>
    <TD STYLE="font-style: italic; vertical-align: middle; text-align: right">19</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: right">1.66</TD>
    <TD STYLE="padding-left: 18px; vertical-align: middle; text-align: left">Rest of World</TD>
    <TD STYLE="font-size: 8pt; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); vertical-align: middle; text-align: right">1.23</TD>
    <TD STYLE="vertical-align: middle; text-align: right">0.95</TD>
    <TD STYLE="vertical-align: middle; text-align: right">29</TD></TR>
  <TR>
    <TD STYLE="color: #C00000; font-weight: bold; vertical-align: bottom; text-align: right">18.57</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; vertical-align: middle; text-align: left">Worldwide gas sales&nbsp;&nbsp;&#8317;*&#8318;</TD>
    <TD STYLE="font-size: 8pt; color: #C00000; font-weight: bold; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; vertical-align: middle; text-align: right">17.48</TD>
    <TD STYLE="color: #C00000; font-weight: bold; vertical-align: middle; text-align: right">16.59</TD>
    <TD STYLE="color: #C00000; font-weight: bold; vertical-align: middle; text-align: right">5</TD></TR>
  <TR>
    <TD STYLE="font-style: italic; vertical-align: bottom; border-bottom: Black 2pt double; text-align: right">2.90</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; vertical-align: bottom; border-bottom: Black 2pt double; text-align: left">of which: LNG sales</TD>
    <TD STYLE="font-size: 8pt; font-style: italic; vertical-align: middle; border-bottom: Black 2pt double; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; vertical-align: middle; border-bottom: Black 2pt double; text-align: right">2.20</TD>
    <TD STYLE="font-style: italic; vertical-align: middle; border-bottom: Black 2pt double; text-align: right">2.50</TD>
    <TD STYLE="font-style: italic; vertical-align: middle; border-bottom: Black 2pt double; text-align: right">(12)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 8pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="font: 8pt Times New Roman, Times, Serif; vertical-align: top">
    <TD COLSPAN="6" STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left">(*) Data include intercompany sales.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: #C00000"><B></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In the first quarter 2021, <B>natural gas sales</B>
of 17.48 bcm increased by 5% compared to the same period of 2020, mainly due to the higher gas volumes marketed outside Italy (Turkey).</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 0 14.2pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 0 14.2pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; color: rgb(192,0,0)"><B>Results</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #C00000"><B> &nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: right">IVQ&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">IQ&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; vertical-align: middle; text-align: right; width: 10%">2020</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; width: 61%">(&euro; million)</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(242,242,242); font-weight: bold; vertical-align: middle; text-align: right; width: 10%">2021</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; vertical-align: middle; text-align: right; width: 10%">2020</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; vertical-align: middle; text-align: right; width: 10%">% Ch.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; border-top-color: black; border-top-width: 1pt">(290)</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Operating profit (loss)&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; text-align: right; border-top-color: black; border-top-width: 1pt">71</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; border-top-color: black; border-top-width: 1pt">101</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; border-top-color: black; border-top-width: 1pt">(30)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right">189</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Exclusion of special items&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(101)</TD>
    <TD STYLE="text-align: right">132</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">(101)</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Adjusted operating profit (loss)&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; text-align: right">(30)</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">233</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">..</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Net finance (expense) income</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(3)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right">(4)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Net income (expense) from investments&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(3)</TD>
    <TD STYLE="text-align: right">(9)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right">26</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Income taxes</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">6</TD>
    <TD STYLE="text-align: right">(52)</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #C00000; font-weight: bold; border-top: gray 0.5pt solid; border-bottom: gray 0.5pt solid; text-align: right">(79)</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; border-top: gray 0.5pt solid; border-bottom: gray 0.5pt solid; text-align: left">Adjusted net profit (loss)&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; border-top: gray 0.5pt solid; border-bottom: gray 0.5pt solid; text-align: right">(30)</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-top: gray 0.5pt solid; border-bottom: gray 0.5pt solid; text-align: right">172</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-top: gray 0.5pt solid; border-bottom: gray 0.5pt solid; text-align: right">..</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-bottom: Black 2pt double; color: #C00000; font-weight: bold; text-align: right">3</TD>
    <TD STYLE="border-bottom: Black 2pt double; padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Capital expenditure</TD>
    <TD STYLE="border-bottom: Black 2pt double; background-color: rgb(242,242,242); color: #C00000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; color: #C00000; font-weight: bold; text-align: right">5</TD>
    <TD STYLE="border-bottom: Black 2pt double; color: #C00000; font-weight: bold; text-align: right">..</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In the first quarter of 2021, the <B>Global Gas
&amp; LNG Portfolio</B> segment reported an <B>adjusted operating loss</B> of &euro;30 million, representing a sharp contraction compared
to the strong performance of the first quarter of 2020, due to one-off positive contributions from portfolio optimization in the year-ago
quarter and narrowing spreads between the PSV vs. the TTF spot gas prices. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 0 14.2pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">For the disclosure on business segment special charges, see page 12.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0 0 3pt"><B>Refining &amp; Marketing and Chemicals</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; color: rgb(192,0,0)"><B>Production and sales</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: center">IVQ&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-size: 8pt; vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; vertical-align: bottom; text-align: center">IQ&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2020</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right; background-color: rgb(242,242,242)">2021</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2020</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">% Ch.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 36px; font-weight: bold; text-align: right; width: 10%">0.2</TD>
    <TD STYLE="padding-left: 18px; font-weight: bold; text-align: left; width: 50%">Standard Eni Refining Margin (SERM)</TD>
    <TD STYLE="font-size: 8pt; text-align: right; width: 10%">$/bbl</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-weight: bold; text-align: right; width: 10%">(0.6)</TD>
    <TD STYLE="font-weight: bold; text-align: right; width: 10%">3.6</TD>
    <TD STYLE="font-weight: bold; text-align: right; width: 10%">..</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 27px; text-align: right">3.93</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Throughputs in Italy</TD>
    <TD STYLE="font-size: 8pt; text-align: right">mmtonnes</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">3.85</TD>
    <TD STYLE="text-align: right">4.06</TD>
    <TD STYLE="text-align: right">(5)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 27px; text-align: right">2.48</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Throughputs in the rest of World</TD>
    <TD STYLE="font-size: 8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">2.55</TD>
    <TD STYLE="text-align: right">1.97</TD>
    <TD STYLE="text-align: right">29</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 27px; color: #C00000; font-weight: bold; text-align: right">6.41</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Total throughputs</TD>
    <TD STYLE="font-size: 8pt; color: #C00000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; text-align: right">6.40</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">6.03</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">6</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 27px; text-align: right">74</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Average refineries utilization rate</TD>
    <TD STYLE="font-size: 8pt; text-align: right">%</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">71</TD>
    <TD STYLE="text-align: right">74</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 27px; color: #C00000; font-weight: bold; text-align: right">183</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Bio throughputs</TD>
    <TD STYLE="font-size: 8pt; text-align: right">ktonnes</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; text-align: right">163</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">188</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">(13)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-bottom: Black 0.5pt solid; padding-right: 0; text-align: right">64</TD>
    <TD STYLE="padding-left: 18px; border-bottom: Black 0.5pt solid; text-align: left">Average bio refineries utilization rate</TD>
    <TD STYLE="font-size: 8pt; border-bottom: Black 0.5pt solid; text-align: right">%</TD>
    <TD STYLE="background-color: rgb(242,242,242); border-bottom: Black 0.5pt solid; text-align: right">65</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">67</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 27px; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; font-weight: bold; text-align: left">Marketing</TD>
    <TD STYLE="font-size: 8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 27px; color: #C00000; font-weight: bold; text-align: right">1.63</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Retail sales in Europe</TD>
    <TD STYLE="font-size: 8pt; text-align: right">mmtonnes</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; text-align: right">1.47</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">1.64</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">(10)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 27px; text-align: right">1.14</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Retail sales in Italy</TD>
    <TD STYLE="font-size: 8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">1.04</TD>
    <TD STYLE="text-align: right">1.12</TD>
    <TD STYLE="text-align: right">(7)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 27px; text-align: right">0.49</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Retail sales in the rest of Europe</TD>
    <TD STYLE="font-size: 8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">0.43</TD>
    <TD STYLE="text-align: right">0.52</TD>
    <TD STYLE="text-align: right">(17)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 27px; text-align: right">23.0</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Retail market share in Italy</TD>
    <TD STYLE="font-size: 8pt; text-align: right">%</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">22.9</TD>
    <TD STYLE="text-align: right">23.3</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 27px; color: #C00000; font-weight: bold; text-align: right">2.11</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Wholesale sales in Europe</TD>
    <TD STYLE="font-size: 8pt; text-align: right">mmtonnes</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; text-align: right">1.72</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">2.08</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">(17)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 27px; text-align: right">1.50</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Wholesale sales in Italy</TD>
    <TD STYLE="font-size: 8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">1.29</TD>
    <TD STYLE="text-align: right">1.51</TD>
    <TD STYLE="text-align: right">(15)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 27px; border-bottom: Black 0.5pt solid; text-align: right">0.61</TD>
    <TD STYLE="padding-left: 18px; border-bottom: Black 0.5pt solid; text-align: left">Wholesale sales in the rest of Europe</TD>
    <TD STYLE="font-size: 8pt; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); border-bottom: Black 0.5pt solid; text-align: right">0.43</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">0.57</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">(25)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 27px; text-align: left">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; font-weight: bold; text-align: left">Chemicals</TD>
    <TD STYLE="font-size: 8pt; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 27px; color: #C00000; font-weight: bold; text-align: right">1.33</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Sales of petrochemical products</TD>
    <TD STYLE="font-size: 8pt; text-align: right">mmtonnes</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; text-align: right">1.18</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">0.89</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">33</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-bottom: Black 2pt double; padding-right: 0; text-align: right">75</TD>
    <TD STYLE="padding-left: 18px; border-bottom: Black 2pt double; text-align: left">Average plant utilization rate</TD>
    <TD STYLE="font-size: 8pt; border-bottom: Black 2pt double; text-align: right">%</TD>
    <TD STYLE="background-color: rgb(242,242,242); border-bottom: Black 2pt double; text-align: right">72</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right">58</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In the first quarter of 2021, the <B>Eni Standard
Refining Margin </B>was in negative territory at minus 0.6 $/barrel compared to 3.6 $/barrel in the comparative period, due to a significant
recovery in the cost of the crude oil feedstock not reflected in the prices of derivative products, particularly the middle distillates,
which remained at depressed values due to the low demand. Refining margins were also negatively affected by narrowing spreads between
sour crudes like the Ural vs. light-sweet crudes, such as the Brent, due to the lower availability of sour crudes due to OPEC+ cuts, which
resulted in low margins at conversion plants.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Throughputs on own account </B>at Eni&rsquo;s
refineries in Italy were 3.85 mmtonnes, 5% lower than the first quarter 2020 in response to a sharply depressed refining scenario. Throughputs
elsewhere increased by a large amount because the year-ago performance was negatively affected by a prolonged plant standstill of ADNOC
Refining&rsquo;s plants.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In the first quarter of 2021, <B>bio throughputs</B>
were 163 ktonnes, down by 13% compared to the same period of 2020, due to a less favorable scenario than in 2020. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In the first quarter of 2021, <B>retail sales
in Italy</B> were 1.04 mmtonnes, down by 7% particularly at the service stations along the national highways. The decline was driven by
lower consumption due to effects associated with the pandemic, with negative impacts mainly in gasoil and gasoline segments. The market
share in the first quarter 2021 was 22.9% (23.3% in the first quarter 2020).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In the first quarter of 2021, <B>wholesale sales
in Italy</B> were 1.29 mmtonnes, down by 15% compared to the same period of 2020, driven by weak industrial activity and in particular
by lower sales of jet fuel to the airline sector, which was severely affected by the pandemic. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In the first quarter of 2021, <B>retail sales
in the rest of Europe</B> of 0.43 mmtonnes decreased by 17% compared to the first quarter of 2020, due to pandemic which negatively affected
the quarter. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In the first quarter of 2021, <B>wholesale sales
in the rest of Europe</B> were 0.43 mmtonnes, down by 25% vs. the same period of 2020, following lower product availability from refineries
in Germany due to the unfavorable scenario.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Sales of petrochemical products</B> were 1.18
mmtonnes in the first quarter, up by 33% compared to the same period of 2020, driven by unusual industry-wide disruption from extreme
winter weather in the US to which the Company responded by increasing production of monomers and basic petrochemicals and sales volumes
leveraging on better plant availability. Sales volumes of polyethylene were also supported by a growing European demand, while the elastomers
also benefitted from higher demand at the automotive sector.</FONT></TD></TR></TABLE>
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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Petrochemical product margins</B> improved
significantly driven by a sharp increase in spot prices of commodities due to the above-mentioned supply disruption. Significant increases
were recorded in the polyethylene and styrenics/elastomers segment, driven by lower monomers prices.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 0 14.2pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 0 14.2pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; color: rgb(192,0,0)"><B>Results</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #C00000"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: right">IVQ&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">IQ&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; vertical-align: middle; text-align: right; width: 10%">2020</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; width: 60%">(&euro; million)</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(242,242,242); font-weight: bold; vertical-align: middle; text-align: right; width: 10%">2021</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; vertical-align: middle; text-align: right; width: 10%">2020</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; vertical-align: middle; text-align: right; width: 10%">% Ch.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">(139)</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Operating profit (loss)&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; text-align: right">309</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">(1,910)</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">..</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right">(110)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Exclusion of inventory holding (gains) losses</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(482)</TD>
    <TD STYLE="text-align: right">1,691</TD>
    <TD STYLE="font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right">145</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Exclusion of special items</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">53</TD>
    <TD STYLE="text-align: right">235</TD>
    <TD STYLE="font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">(104)</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Adjusted operating profit (loss)&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; text-align: right">(120)</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">16</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">..</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-style: italic; text-align: right">(59)</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">- Refining &amp; Marketing</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">(159)</TD>
    <TD STYLE="font-style: italic; text-align: right">81</TD>
    <TD STYLE="text-align: right">..</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-style: italic; text-align: right">(45)</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">- Chemicals</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">39</TD>
    <TD STYLE="font-style: italic; text-align: right">(65)</TD>
    <TD STYLE="text-align: right">..</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right">(1)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Net finance (expense) income</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(12)</TD>
    <TD STYLE="text-align: right">(8)</TD>
    <TD STYLE="font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right">(71)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Net income (expense) from investments</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(31)</TD>
    <TD STYLE="text-align: right">(10)</TD>
    <TD STYLE="font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-style: italic; text-align: right">(58)</TD>
    <TD STYLE="padding-left: 36px; font-style: italic; text-align: left">of which: ADNOC R&amp;GT</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">(35)</TD>
    <TD STYLE="font-style: italic; text-align: right">(18)</TD>
    <TD STYLE="font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right">(29)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Income taxes</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">32</TD>
    <TD STYLE="text-align: right">(62)</TD>
    <TD STYLE="font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #C00000; font-weight: bold; border-top: gray 0.5pt solid; border-bottom: gray 0.5pt solid; text-align: right">(205)</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; border-top: gray 0.5pt solid; border-bottom: gray 0.5pt solid; text-align: left">Adjusted net profit (loss)&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; border-top: gray 0.5pt solid; border-bottom: gray 0.5pt solid; text-align: right">(131)</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-top: gray 0.5pt solid; border-bottom: gray 0.5pt solid; text-align: right">(64)</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-top: gray 0.5pt solid; border-bottom: gray 0.5pt solid; text-align: right">..</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #C00000; font-weight: bold; border-bottom: Black 2pt double; text-align: right">256</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; border-bottom: Black 2pt double; text-align: left">Capital expenditure</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; border-bottom: Black 2pt double; text-align: right">127</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-bottom: Black 2pt double; text-align: right">235</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-bottom: Black 2pt double; text-align: right">(46)</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: #C00000"><B></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: #C00000"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In the first quarter of 2021, the&nbsp;<B>Refining
&amp; Marketing</B>&nbsp;business reported an&nbsp;<B>adjusted operating loss</B>&nbsp;of &euro;159 million, a significant contraction
from the first quarter 2020 due to the persistent low fuel demand in the reference markets (mainly in Italy and Western Europe) due to
the restrictive measures adopted against the COVID-19 pandemic, which drove down the Eni benchmark refining margin (SERM) in negative
territory. The throughputs were reduced by 5% in response to the depressed trading environment. The result of the marketing business was
negatively affected by lower sales volumes due to the pandemic-related restrictions. The optimization of the industrial setup allowed
to recover part of the scenario.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In the first quarter of 2021, the <B>Chemical</B>
business, managed by Versalis, reported an <B>adjusted operating profit</B> of &euro;39 million, significantly better than the first quarter
of 2020 when an adjusted operating loss of &euro;65 million was incurred. The business took advantage from unusual industry-wide disruption
from extreme winter weather in the US by higher plants availability, which translated into higher sales volumes (up 33%) and better margins
for polymers and elastomers. Global demand for plastics has improved thanks to a broadening economic recovery, with many end-markets like
consumer durables and the automotive and packaging sector performing well, which sustained volumes.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Adjusted net loss</B> of &euro;131 million
in the first quarter, compared to the net loss of &euro;64 million in the same period of 2020, following the worse result of R&amp;M,
including the investment in ADNOC Refining &amp; Global Trading (a loss of &euro;35 million in the first quarter of 2021 vs a loss of
&euro;18 million in the comparative period).</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 0 14.2pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">For the disclosure on business segment special charges, see page 12.</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0 0 3pt"><B>Eni gas e luce, Power &amp; Renewables</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; color: rgb(192,0,0)"><B>Production and sales</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B></B></FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: right">IVQ&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">IQ&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2020</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-weight: bold">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(242,242,242); font-weight: bold; text-align: right">2021</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">2020</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">% Ch.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-weight: bold; text-align: right; width: 10%">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; font-weight: bold; text-align: left; width: 50%">EGL &amp; Renewables</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: right; width: 10%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-weight: bold; text-align: right; width: 10%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right; width: 10%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right; width: 10%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: right">2.51</TD>
    <TD STYLE="padding-left: 18px; vertical-align: middle; text-align: left">Retail gas sales</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; vertical-align: middle; text-align: right">bcm</TD>
    <TD STYLE="background-color: rgb(242,242,242); vertical-align: middle; text-align: right">3.52</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3.63</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(3)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: right">3.40</TD>
    <TD STYLE="padding-left: 18px; vertical-align: middle; text-align: left">Retail power sales to end customers</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; vertical-align: middle; text-align: right">TWh</TD>
    <TD STYLE="background-color: rgb(242,242,242); vertical-align: middle; text-align: right">3.65</TD>
    <TD STYLE="vertical-align: middle; text-align: right">3.28</TD>
    <TD STYLE="vertical-align: middle; text-align: right">11</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: right">9.57</TD>
    <TD STYLE="padding-left: 18px; vertical-align: middle; text-align: left">Retail customers (POD)</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; vertical-align: middle; text-align: right">mln pod</TD>
    <TD STYLE="background-color: rgb(242,242,242); vertical-align: middle; text-align: right">9.56</TD>
    <TD STYLE="vertical-align: middle; text-align: right">9.48</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: right">87</TD>
    <TD STYLE="padding-left: 18px; vertical-align: middle; text-align: left">Energy production from renewable sources</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; vertical-align: middle; text-align: right">GWh</TD>
    <TD STYLE="background-color: rgb(242,242,242); vertical-align: middle; text-align: right">117</TD>
    <TD STYLE="vertical-align: middle; text-align: right">44</TD>
    <TD STYLE="vertical-align: middle; text-align: right">..</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: right">307</TD>
    <TD STYLE="padding-left: 18px; vertical-align: middle; text-align: left">Installed capacity from renewables at period end</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; vertical-align: middle; text-align: right">MW</TD>
    <TD STYLE="background-color: rgb(242,242,242); vertical-align: middle; text-align: right">307</TD>
    <TD STYLE="vertical-align: middle; text-align: right">251</TD>
    <TD STYLE="vertical-align: middle; text-align: right">22</TD></TR>
  <TR>
    <TD STYLE="font-style: italic; vertical-align: bottom; text-align: right">77</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; vertical-align: middle; text-align: left">of which: - photovoltaic</TD>
    <TD STYLE="font: italic 8pt Times New Roman, Times, Serif; vertical-align: middle; text-align: right">%</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; vertical-align: middle; text-align: right">77</TD>
    <TD STYLE="font-style: italic; vertical-align: bottom; text-align: right">78</TD>
    <TD STYLE="font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-style: italic; vertical-align: bottom; text-align: right">20</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; vertical-align: middle; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- wind</TD>
    <TD STYLE="font: italic 8pt Times New Roman, Times, Serif; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; vertical-align: middle; text-align: right">20</TD>
    <TD STYLE="font-style: italic; vertical-align: bottom; text-align: right">19</TD>
    <TD STYLE="font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-style: italic; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right">3</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- installed storage capacity</TD>
    <TD STYLE="font: italic 8pt Times New Roman, Times, Serif; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">3</TD>
    <TD STYLE="font-style: italic; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">3</TD>
    <TD STYLE="font-style: italic; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; font-weight: bold; vertical-align: middle; text-align: left">Power</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; text-align: right">6.58</TD>
    <TD STYLE="padding-left: 18px; vertical-align: middle; text-align: left">Power sales in the open market</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; vertical-align: middle; text-align: right">TWh</TD>
    <TD STYLE="background-color: rgb(242,242,242); vertical-align: middle; text-align: right">6.42</TD>
    <TD STYLE="vertical-align: middle; text-align: right">6.50</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 2pt double; text-align: right">5.18</TD>
    <TD STYLE="padding-left: 18px; vertical-align: middle; border-bottom: Black 2pt double; text-align: left">Thermoelectric production</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; vertical-align: middle; border-bottom: Black 2pt double; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); vertical-align: middle; border-bottom: Black 2pt double; text-align: right">5.12</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 2pt double; text-align: right">5.46</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 2pt double; text-align: right">(6)</TD></TR>
  </TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/12pt Times New Roman, Times, Serif; margin-top: 10pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Retail gas sales </B>amounted to 3.52 bcm
in the first quarter of 2021, down by 3% compared to the same period of 2020 as result of reduced consumption in Italy, particularly in
the small and medium-sized enterprises segment, due to the economic downturn following the restrictive measures to contain the COVID-19
pandemic, partly offset by higher volumes sold in the European markets.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Retail power sales to end customers </B>were
3.65 TWh in the first quarter of 2020, increasing by 11%, benefitting from the growth of the retail customers portfolio.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Energy production from renewable sources </B>amounted
to 117 GWh in the first quarter of 2021, almost a three-fold increase from the same period of 2020 (44 GWh in the first quarter of 2020)
due to the entry into production of new plants in Italy and abroad, as well as the contribution of the U.S. assets acquired in the fourth
quarter of 2020.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">As of March 31, 2021, the <B>installed capacity
from renewables </B>was 307 MW, in line with December 31, 2020. Compared to March 31, 2020 the capacity increased by 56 MW thanks to the
completion of Batchelor and Manton Dam plants in Australia (up by 25 MW), as well as the acquisition of the U.S. assets, already fully
in operation (up by 30 MW).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">As of March 31, 2020, the <B>capacity under construction/advanced
stage of development </B>amounted to over 0.6 GW mainly relating to the Dogger Bank A and B project in the UK (480 MW in Eni share, wind
offshore) and to new capacity in Kazakhstan (98 MW, of which 48 MW wind onshore and 50 MW PV solar).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Power sales in the open market </B>were 6.42
TWh in the first quarter of 2021, slightly decreased by 1% from the comparative period, due to the economic downturn.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #C00000"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; color: rgb(192,0,0)"><B>Results</B></P>

<P STYLE="font: 10pt/150% Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 150%"></FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: right">IVQ&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">IQ&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; vertical-align: middle; text-align: right; width: 10%">2020</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; width: 60%">(&euro; million)</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(242,242,242); font-weight: bold; vertical-align: middle; text-align: right; width: 10%">2021</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; vertical-align: middle; text-align: right; width: 10%">2020</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; vertical-align: middle; text-align: right; width: 10%">% Ch.</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; border-top-color: black; border-top-width: 1pt">404</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Operating profit (loss)&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; text-align: right; border-top-color: black; border-top-width: 1pt">230</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; border-top-color: black; border-top-width: 1pt">100</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; border-top-color: black; border-top-width: 1pt">..</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right">(272)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Exclusion of special items&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(28)</TD>
    <TD STYLE="text-align: right">91</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">132</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Adjusted operating profit (loss)&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; text-align: right">202</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">191</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">6</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-style: italic; text-align: right">96</TD>
    <TD STYLE="padding-left: 27px; font-style: italic; text-align: left">- Eni gas e luce &amp; Renewables</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">176</TD>
    <TD STYLE="font-style: italic; text-align: right">150</TD>
    <TD STYLE="font-style: italic; text-align: right">17</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-style: italic; text-align: right">36</TD>
    <TD STYLE="padding-left: 27px; font-style: italic; text-align: left">- Power</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">26</TD>
    <TD STYLE="font-style: italic; text-align: right">41</TD>
    <TD STYLE="font-style: italic; text-align: right">(37)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Net finance (expense) income</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right">2</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Net income (expense) from investments&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">6</TD>
    <TD STYLE="text-align: right">8</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right">(39)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Income taxes</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(55)</TD>
    <TD STYLE="text-align: right">(60)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #C00000; font-weight: bold; border-top: gray 0.5pt solid; border-bottom: gray 0.5pt solid; text-align: right">95</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; border-top: gray 0.5pt solid; border-bottom: gray 0.5pt solid; text-align: left">Adjusted net profit (loss)&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; border-top: gray 0.5pt solid; border-bottom: gray 0.5pt solid; text-align: right">153</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-top: gray 0.5pt solid; border-bottom: gray 0.5pt solid; text-align: right">139</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-top: gray 0.5pt solid; border-bottom: gray 0.5pt solid; text-align: right">10</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #C00000; font-weight: bold; border-bottom: #0D0D0D 2pt double; text-align: right; border-top-color: gray; border-top-width: 0.5pt">89</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; border-bottom: #0D0D0D 2pt double; text-align: left; border-top-color: gray; border-top-width: 0.5pt">Capital expenditure</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; border-bottom: #0D0D0D 2pt double; text-align: right; border-top-color: gray; border-top-width: 0.5pt">84</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-bottom: #0D0D0D 2pt double; text-align: right; border-top-color: gray; border-top-width: 0.5pt">71</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-bottom: #0D0D0D 2pt double; text-align: right; border-top-color: gray; border-top-width: 0.5pt">18</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/150% Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt/150% Times New Roman, Times, Serif"></FONT></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In the first quarter of 2021, the retail gas
and power and renewables business reported an <B>adjusted operating profit</B> of &euro;176 million, up by 17% from the first quarter
of 2020, notwithstanding the fact that the Italian economy was still undergoing a contraction. The performance was supported by gains
in the extra-commodity business, also leveraging the integration of the distributed photovoltaic business (Evolvere) acquired last year,
a growth in the customer base, particularly in the power segment, and lower expected credit losses, following an improving trend in collecting
invoiced amounts.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The power generation business from gas-fired
plants reported lower results down by 37% to &euro;26 million, driven by a lowered crack spread of power against the backdrop of weak
demand and reduced plant availability.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">For the disclosure on business segment special charges, see page 12.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 2.5pt; width: 5in; background-color: rgb(255,213,29); vertical-align: bottom; font-weight: bold; text-align: left">Group results</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</p>
<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: right; background-color: white">IVQ&nbsp;</TD>
    <TD STYLE="padding-left: 18px; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">IQ&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; vertical-align: middle; background-color: white; text-align: right; width: 10%">2020</TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; width: 60%">(&euro; million)</TD>
    <TD STYLE="background-color: rgb(242,242,242); border-bottom: Black 1pt solid; padding-right: 9px; font-weight: bold; vertical-align: middle; text-align: right; width: 10%">2021</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; vertical-align: middle; text-align: right; width: 10%">2020</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; vertical-align: middle; text-align: right; width: 10%">% Ch.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: right">11,631</TD>
    <TD STYLE="padding-left: 18px; font-weight: bold; text-align: left">Sales from operations</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-weight: bold; text-align: right">14,494</TD>
    <TD STYLE="font-weight: bold; text-align: right">13,873</TD>
    <TD STYLE="font-weight: bold; text-align: right">4</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: right">280</TD>
    <TD STYLE="padding-left: 18px; font-weight: bold; text-align: left">Operating profit (loss)</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-weight: bold; text-align: right">1,862</TD>
    <TD STYLE="font-weight: bold; text-align: right">(1,095)</TD>
    <TD STYLE="font-weight: bold; text-align: right">..</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">(69)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Exclusion of inventory holding (gains) losses</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(464)</TD>
    <TD STYLE="text-align: right">1,577</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">277</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Exclusion of special items &#8317;&#7491;&#8318;</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(77)</TD>
    <TD STYLE="text-align: right">825</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #C00000; font-weight: bold; border-top: Black 0.5pt solid; text-align: right">488</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Adjusted operating profit (loss)</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; border-top: Black 0.5pt solid; text-align: right">1,321</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-top: Black 0.5pt solid; text-align: right">1,307</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">1</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Breakdown by segment:</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic; text-align: right">802</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">Exploration &amp; Production</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">1,378</TD>
    <TD STYLE="font-style: italic; text-align: right">1,037</TD>
    <TD STYLE="font-style: italic; text-align: right">33</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic; text-align: right">(101)</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">GGP</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">(30)</TD>
    <TD STYLE="font-style: italic; text-align: right">233</TD>
    <TD STYLE="font-style: italic; text-align: right">..</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic; text-align: right">(104)</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">Refining &amp; Marketing and Chemicals</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">(120)</TD>
    <TD STYLE="font-style: italic; text-align: right">16</TD>
    <TD STYLE="font-style: italic; text-align: right">..</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic; text-align: right">132</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">EGL, Power &amp; Renewables</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">202</TD>
    <TD STYLE="font-style: italic; text-align: right">191</TD>
    <TD STYLE="font-style: italic; text-align: right">6</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic; text-align: right">(84)</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">Corporate and other activities</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">(146)</TD>
    <TD STYLE="font-style: italic; text-align: right">(204)</TD>
    <TD STYLE="font-style: italic; text-align: right">28</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-style: italic; text-align: right">(157)</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">Impact of unrealized intragroup profit elimination and other consolidation adjustments</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">37</TD>
    <TD STYLE="font-style: italic; text-align: right">34</TD>
    <TD STYLE="font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 2pt double; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold">Utile (perdita) operativo adjusted - continuing operations</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: white; font-weight: bold; border-bottom: Black 2pt double; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-weight: bold; border-bottom: Black 2pt double; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; border-bottom: Black 2pt double; text-align: center">#DIV/0!</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">(797)</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Net profit (loss) attributable to Eni's shareholders</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; text-align: right">856</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">(2,929)</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">(49)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Exclusion of inventory holding (gains) losses</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(329)</TD>
    <TD STYLE="text-align: right">1,118</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">896</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Exclusion of special items &#8317;&#7491;&#8318;</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(257)</TD>
    <TD STYLE="text-align: right">1,870</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 2pt double; color: #C00000; font-weight: bold; vertical-align: middle; text-align: right">50</TD>
    <TD STYLE="border-bottom: Black 2pt double; padding-left: 18px; color: #C00000; font-weight: bold; vertical-align: bottom; text-align: left">Adjusted net profit (loss) attributable to Eni's shareholders&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); border-bottom: Black 2pt double; color: #C00000; font-weight: bold; vertical-align: middle; text-align: right">270</TD>
    <TD STYLE="border-bottom: Black 2pt double; color: #C00000; font-weight: bold; vertical-align: middle; text-align: right">59</TD>
    <TD STYLE="border-bottom: Black 2pt double; color: #C00000; font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="font: 8pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">(a) For further information see table &quot;Breakdown of special items&quot;.</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #C00000">&nbsp;</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 3pt; text-align: justify; color: #C00000">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; color: rgb(192,0,0)">Adjusted results</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">In the first quarter of 2021, the Group reported
an <B>adjusted operating profit</B> of &euro;1,321 million, unchanged from the same period in 2020 due to a strengthening upstream scenario
in line with the recovery in crude oil prices (Brent price up by 21% in USD). This positive trend was offset by the appreciation of the
euro over the US dollar (up by 9%), lower production volumes due to OPEC+ cuts and capital discipline in the development of hydrocarbons
reserves as well as the negative results suffered by the GGP and the R&amp;M businesses. The chemical business rebounded strongly driven
by higher plant availability and improved product margins due to higher demand and unusual industry supply conditions. A positive result
was also reported in the retail gas and power and renewables segment. The Group result compared strongly with the fourth quarter 2020,
reporting an approximately threefold increase due to a recovery in the oil price scenario, while maintaining a flat hydrocarbons production
level. </FONT></TD></TR></TABLE>
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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The Group reported an <B>adjusted net result</B>
of &euro;270 million in the first quarter 2021, a noticeable improvement compared to first quarter 2020 (up by 358%) due to lower finance
expenses, higher results at equity-accounted JVs and associates, in particular the positive performance of the V&aring;r Energi JV, as
well as a lower tax rate (down by approximately 17 p.p.).</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #C00000">&nbsp;</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify"><B>Review of the Group&rsquo;s tax rate </B></P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">The first quarter 2021 result was affected
by a consolidated tax rate which decreased to 75% from about 90% in the first quarter of 2020. The main driver of this reduction was the
E&amp;P tax rate which landed at about 50% vs 75% in the year-ago quarter, reflecting an improved geographical mix of profits on the back
of a better scenario, which lowered the relative weigh of jurisdictions characterized by higher tax rates, like Libya, Egypt, Algeria
and UAE. The higher average Group tax rate was due to the circumstance that the Group did not recognize deferred tax assets for its operating
losses at Italian businesses due to uncertainty about their future recoverability. A normalized measure of tax rate which normalizes this
latter trend is disclosed below:</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: left">(&euro; million)</TD>
    <TD COLSPAN="3" STYLE="padding-top: 2.5pt; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; background-color: #F2F2F2; padding-bottom: 2.5pt">First Quarter&nbsp;&nbsp;2021</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; border-top-color: Black; border-top-width: 0.5pt; width: 40%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; background-color: #F2F2F2; width: 20%">reported (ex-special items)</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; width: 20%">unrecognized<BR>
 deferred tax assets<BR>
 on losses for the<BR>
 period</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; background-color: #F2F2F2; width: 20%">normalized tax rate</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Pre-tax profit</TD>
    <TD STYLE="vertical-align: bottom; font-weight: bold; text-align: center; background-color: #F2F2F2">1,096</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-weight: bold; text-align: center; background-color: #F2F2F2">1,096</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-weight: bold; text-align: center; background-color: #F2F2F2">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-weight: bold; text-align: center; background-color: #F2F2F2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">Accrued income taxes</TD>
    <TD STYLE="vertical-align: bottom; font-weight: bold; text-align: center; background-color: #F2F2F2">(822)</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">186</TD>
    <TD STYLE="vertical-align: bottom; font-weight: bold; text-align: center; background-color: #F2F2F2">(636)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-weight: bold; text-align: center; background-color: #F2F2F2">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-weight: bold; text-align: center; background-color: #F2F2F2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 2pt double; color: #C00000; font-weight: bold">Tax rate</TD>
    <TD STYLE="border-bottom: Black 2pt double; vertical-align: bottom; color: #C00000; font-weight: bold; text-align: center; background-color: #F2F2F2">75.0%</TD>
    <TD STYLE="border-bottom: Black 2pt double; vertical-align: bottom; color: #C00000; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; vertical-align: bottom; color: #C00000; font-weight: bold; text-align: center; background-color: #F2F2F2">58.0%</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; color: rgb(192,0,0)">Special items</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The breakdown of <B>special items recorded in
operating profit</B> by segment (a net gain of &euro;77 million in the first quarter 2021) is as follows:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>E&amp;P: </B>reported net gains of &euro;76
million related to disposal of non-strategic assets in Nigeria as well as provisions for extraordinary credit losses (&euro;15 million);</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>GGP</B>: net gains of &euro;101 million included
the accounting effect of certain fair-valued commodity derivatives lacking the formal criteria to be classified as hedges or to be elected
under the own use accounting (&euro;154 million); a gain due to the difference between the gas inventories value accounted for under the
weighted-average cost method provided by IFRS and management&rsquo;s own measure of inventories which moves forward at the time of inventory
drawdown the margins captured on volumes in inventories above their normal levels leveraging the seasonal spread in gas prices net of
the effects of the associated commodity derivatives (&euro;31 million); and the reclassification to adjusted operating profit of the positive
balance of &euro;83 million related to derivative financial instruments used to manage margin exposure to foreign currency exchange rate
movements and exchange translation differences of commercial payables and receivables;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>R&amp;M and Chemicals: </B>net charges of
&euro;53 million included the write down (&euro;24 million) of capital expenditures made for compliance to safety rules and stay-in-business
at certain Cash Generating Units with expected negative cash flows. Other special items related to environmental charges (&euro;24 million),
as well as the accounting effect of certain fair-valued commodity derivatives lacking the formal criteria to be classified as hedges (charge
of &euro;22 million);</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt/13pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>EGL, Power &amp; Renewables</B>: net gain
of &euro;28 million included the accounting effect of certain fair-valued commodity derivatives lacking the formal criteria to be classified
as hedges. </FONT></TD></TR></TABLE>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0 0 0 14.2pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Special tax items essentially included the offset
of the notional tax debt on the profit on stock (&euro; 135 million).</P>

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<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; color: rgb(192,0,0)">Net borrowings and cash flow from operations</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">IVQ&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; vertical-align: middle; text-align: center">IQ&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: black 1pt solid; text-align: right; width: 10%">2020</TD>
    <TD STYLE="font-size: 8pt; vertical-align: bottom; border-bottom: black 1pt solid; text-align: center; width: 60%">(&euro; million)&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right; width: 10%">2021</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right; width: 10%">2020</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right; width: 10%">Change</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">(795)</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Net profit (loss)</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; text-align: right">860</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">(2,927)</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">3,787</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">Adjustments to reconcile net profit (loss) to net cash provided by operating activities:&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">2,476</TD>
    <TD STYLE="padding-left: 18px; text-align: left">- depreciation, depletion and amortization and other non monetary items</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">1,463</TD>
    <TD STYLE="text-align: right">3,335</TD>
    <TD STYLE="text-align: right">(1,872)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">(3)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">- net gains on disposal of assets</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(82)</TD>
    <TD STYLE="text-align: right">(3)</TD>
    <TD STYLE="text-align: right">(79)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">627</TD>
    <TD STYLE="padding-left: 18px; text-align: left">- dividends, interests and taxes</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">1,047</TD>
    <TD STYLE="text-align: right">721</TD>
    <TD STYLE="text-align: right">326</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">(632)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Changes in working capital related to operations</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(1,191)</TD>
    <TD STYLE="text-align: right">685</TD>
    <TD STYLE="text-align: right">(1,876)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">96</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Dividends received by equity investments</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">150</TD>
    <TD STYLE="text-align: right">156</TD>
    <TD STYLE="text-align: right">(6)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">(625)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Taxes paid</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(663)</TD>
    <TD STYLE="text-align: right">(738)</TD>
    <TD STYLE="text-align: right">75</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">(156)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Interests (paid) received</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(208)</TD>
    <TD STYLE="text-align: right">(254)</TD>
    <TD STYLE="text-align: right">46</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #C00000; font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">988</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Net cash provided by operating activities</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">1,376</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">975</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">401</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">(1,187)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Capital expenditure</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(1,139)</TD>
    <TD STYLE="text-align: right">(1,590)</TD>
    <TD STYLE="text-align: right">451</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">(33)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Investments</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(520)</TD>
    <TD STYLE="text-align: right">(222)</TD>
    <TD STYLE="text-align: right">(298)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right">15</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Disposal of consolidated subsidiaries, businesses, tangible and intangible assets and investments</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">169</TD>
    <TD STYLE="text-align: right">8</TD>
    <TD STYLE="text-align: right">161</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">(12)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Other cash flow related to investing activities</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">5</TD>
    <TD STYLE="text-align: right">(93)</TD>
    <TD STYLE="text-align: right">98</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">(229)</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Free cash flow</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; text-align: right">(109)</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; background-color: white">(922)</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; background-color: white">813</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right">186</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Net cash inflow (outflow) related to financial activities</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(551)</TD>
    <TD STYLE="text-align: right">(735)</TD>
    <TD STYLE="text-align: right">184</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">(164)</TD>
    <TD STYLE="padding-left: 18px; text-align: left; background-color: white">Changes in short and long-term financial debt</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(96)</TD>
    <TD STYLE="text-align: right">(452)</TD>
    <TD STYLE="text-align: right">356</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">(193)</TD>
    <TD STYLE="padding-left: 18px; text-align: left; background-color: white">Repayment of lease liabilities</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(219)</TD>
    <TD STYLE="text-align: right">(249)</TD>
    <TD STYLE="text-align: right">30</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">(8)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Dividends paid and changes in non-controlling interests and reserves</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">2,975</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Net issue (repayment) of perpetual hybrid bond</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(10)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(10)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right">(33)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Effect of changes in consolidation and exchange differences of cash and cash equivalent&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">36</TD>
    <TD STYLE="text-align: right">5</TD>
    <TD STYLE="text-align: right">31</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; color: #C00000; font-weight: bold; text-align: right">2,534</TD>
    <TD STYLE="border-bottom: Black 2pt double; padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENT</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; background-color: rgb(242,242,242); color: #C00000; font-weight: bold; text-align: right">(949)</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; color: #C00000; font-weight: bold; text-align: right">(2,353)</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; color: #C00000; font-weight: bold; text-align: right">1,404</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 2pt double; color: #C00000; font-weight: bold; text-align: right">1,582</TD>
    <TD STYLE="border-bottom: Black 2pt double; padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Cash flow from operations before changes in working capital at replacement cost</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; background-color: rgb(242,242,242); color: #C00000; font-weight: bold; text-align: right">1,960</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; color: #C00000; font-weight: bold; text-align: right">2,222</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; color: #C00000; font-weight: bold; text-align: right">(262)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: right">IVQ&nbsp;</TD>
    <TD STYLE="padding-left: 18px; text-align: left">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">IQ&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; border-bottom: black 1pt solid; text-align: right">2020</TD>
    <TD STYLE="font-size: 8pt; vertical-align: bottom; border-bottom: black 1pt solid; text-align: center">(&euro; million)&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right">2021</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right">2020</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right">Change</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">(229)</TD>
    <TD STYLE="padding-left: 18px; color: #CC0000; font-weight: bold; text-align: left">Free cash flow</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #CC0000; font-weight: bold; text-align: right">(109)</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">(922)</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">813</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">(193)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Repayment of lease liabilities</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(219)</TD>
    <TD STYLE="text-align: right">(249)</TD>
    <TD STYLE="text-align: right">30</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Net borrowings of acquired companies</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(170)</TD>
    <TD STYLE="text-align: right">(66)</TD>
    <TD STYLE="text-align: right">(104)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">412</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Exchange differences on net borrowings and other changes</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(163)</TD>
    <TD STYLE="text-align: right">(206)</TD>
    <TD STYLE="text-align: right">43</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">(8)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Dividends paid and changes in non-controlling interest and reserves</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">2,975</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Net issue (repayment) of perpetual hybrid bond</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(10)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(10)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">2,957</TD>
    <TD STYLE="padding-left: 18px; color: #CC0000; font-weight: bold; text-align: left">CHANGE IN NET BORROWINGS BEFORE LEASE LIABILITIES</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #CC0000; font-weight: bold; text-align: right">(671)</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">(1,443)</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">772</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">193</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Repayment of lease liabilities</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">219</TD>
    <TD STYLE="text-align: right">249</TD>
    <TD STYLE="text-align: right">(30)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">117</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Inception of new leases and other changes</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(469)</TD>
    <TD STYLE="text-align: right">(362)</TD>
    <TD STYLE="text-align: right">(107)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">310</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Change in lease liabilities</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #CC0000; font-weight: bold; text-align: right">(250)</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">(113)</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">(137)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 2pt double; color: #CC0000; font-weight: bold; text-align: right">3,267</TD>
    <TD STYLE="border-bottom: Black 2pt double; padding-left: 18px; color: #CC0000; font-weight: bold; text-align: left">CHANGE IN NET BORROWINGS AFTER LEASE LIABILITIES</TD>
    <TD STYLE="border-bottom: Black 2pt double; background-color: rgb(242,242,242); color: #CC0000; font-weight: bold; text-align: right">(921)</TD>
    <TD STYLE="border-bottom: Black 2pt double; color: #C00000; font-weight: bold; text-align: right">(1,556)</TD>
    <TD STYLE="border-bottom: Black 2pt double; color: #CC0000; font-weight: bold; text-align: right">635</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Net cash provided by operating activities</B>
for the first quarter 2021 was &euro;1,376 million. This benefitted from a higher amount of trade receivables due in subsequent reporting
periods divested to financing institutions compared to the fourth quarter 2020 (+&euro;0.46 billion).</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify"><B>Cash flow from operations before changes
in working capital at replacement cost</B> was &euro;1,960 million. This non-GAAP measure includes net cash provided by operating activities
before changes in working capital excluding inventory holding gains or losses and provisions for extraordinary credit losses and other
charges, as well as the fair value of commodity derivatives lacking the formal criteria to be designated as hedges and the fair value
of forward gas sale contracts with physical delivery which were not accounted in accordance with the own use exemption.</P>

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<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify"></P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A reconciliation of <B>cash flow from operations
before changes in working capital at replacement cost </B>to net cash provided by operating activities for the first quarter of 2020 and
2021 is provided below:</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 115%"></FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="5" STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center">IQ 2021</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: left; width: 25%">(&euro; million)</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; background-color: #EDEDED; width: 15%">Reported</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; width: 15%">Stock profit</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; width: 15%">FV derivatives</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; width: 15%">Provisions for<BR>
 extraordinary credit<BR>
 losses and other charges</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; background-color: #EDEDED; width: 15%">Adjusted</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Cash flow before working capital</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: #EDEDED">2,567</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(464)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(158)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">15</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: #EDEDED">1,960</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: #EDEDED">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: #EDEDED">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Changes in working capital</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: #EDEDED">(1,191)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">464</TD>
    <TD STYLE="vertical-align: middle; text-align: right">158</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(15)</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: #EDEDED">(584)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: #EDEDED">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: #EDEDED">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-bottom: Black 2pt double; color: #C00000; font-weight: bold">CFFO</TD>
    <TD STYLE="border-bottom: Black 2pt double; color: #C00000; font-weight: bold; text-align: right; background-color: #EDEDED">1,376</TD>
    <TD STYLE="border-bottom: Black 2pt double; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; color: #C00000; font-weight: bold; text-align: right; background-color: #EDEDED">1,376</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt/115% Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="5" STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: center">IQ 2020</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: left; width: 25%">(&euro; million)</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; background-color: #EDEDED; width: 15%">Reported</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; width: 15%">Stock profit</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; width: 15%">FV derivatives</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; width: 15%">Provisions for<BR>
 extraordinary credit losses and other charges</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: center; border-top-color: Black; border-top-width: 0.5pt; background-color: #EDEDED; width: 15%">Adjusted</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Cash flow before working capital</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: #EDEDED">290</TD>
    <TD STYLE="vertical-align: middle; text-align: right">1,577</TD>
    <TD STYLE="vertical-align: middle; text-align: right">269</TD>
    <TD STYLE="vertical-align: middle; text-align: right">86</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: #EDEDED">2,222</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: #EDEDED">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: #EDEDED">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">Changes in working capital</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: #EDEDED">685</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(1,577)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(269)</TD>
    <TD STYLE="vertical-align: middle; text-align: right">(86)</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: #EDEDED">(1,247)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: #EDEDED">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center; background-color: #EDEDED">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-bottom: Black 2pt double; color: #C00000; font-weight: bold">CFFO</TD>
    <TD STYLE="border-bottom: Black 2pt double; color: #C00000; font-weight: bold; text-align: right; background-color: #EDEDED">975</TD>
    <TD STYLE="border-bottom: Black 2pt double; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; color: #C00000; font-weight: bold; text-align: right; background-color: #EDEDED">975</TD></TR>
  </TABLE>
<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify"><B>Cash outflows for capital expenditure,
investments and business combinations</B> were &euro;1.6 billion, including the acquisition of a 20% interest in the Dogger Bank A/B offshore
wind project in the North Sea. The restructuring of the UFG joint venture resulted in an overall net cash inflow to Eni, accounted for
in the &ldquo;disposals&rdquo; item of the statement. Disposals also included the consideration on the sale of certain non-strategic assets
in the E&amp;P segment. Net of the above-mentioned non-organic items and of utilization of trade advances cashed by Egyptian partners
in previous reporting periods in relation to the financing of the Zohr project (&euro;0.27 billion), net capital expenditures amounted
to &euro;1.4 billion, 30% lower than the same period of 2020 leveraging the curtailments implemented by the management following a review
of the industrial plan 2020-2021 in response to the pandemic COVID-19 crisis.</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 3pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; color: rgb(192,0,0)">Summarized Group Balance Sheet</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="font: bold 8pt Times New Roman, Times, Serif">
    <TD STYLE="padding-right: 2.5pt; border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: bottom; text-align: center; width: 70%; padding-left: 2.5pt">(&euro; million)</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 2.5pt; font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: bottom; text-align: right; background-color: #F2F2F2; width: 10%; padding-left: 2.5pt">March 31, 2021</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: bottom; text-align: right; width: 10%">Dec. 31, 2020</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: bottom; text-align: right; width: 10%">Change</TD></TR>
  <TR>
    <TD STYLE="padding-right: 2.5pt; vertical-align: bottom; padding-left: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2.5pt; font-weight: bold; vertical-align: middle; text-align: right; background-color: #F2F2F2; padding-left: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Fixed assets</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; background-color: #F2F2F2">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">Property,&nbsp;&nbsp;plant and equipment&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">55,869</TD>
    <TD STYLE="text-align: right; background-color: white">53,943</TD>
    <TD STYLE="text-align: right">1,926</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">Right of use</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">4,804</TD>
    <TD STYLE="text-align: right; background-color: white">4,643</TD>
    <TD STYLE="text-align: right">161</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">Intangible assets</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">3,117</TD>
    <TD STYLE="text-align: right; background-color: white">2,936</TD>
    <TD STYLE="text-align: right">181</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">Inventories - Compulsory stock</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">1,196</TD>
    <TD STYLE="text-align: right; background-color: white">995</TD>
    <TD STYLE="text-align: right">201</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">Equity-accounted investments and other investments</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">8,153</TD>
    <TD STYLE="text-align: right; background-color: white">7,706</TD>
    <TD STYLE="text-align: right">447</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">Receivables and securities held for operating purposes</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">1,058</TD>
    <TD STYLE="text-align: right; background-color: white">1,037</TD>
    <TD STYLE="text-align: right">21</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">Net payables related to capital expenditure</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; background-color: #F2F2F2">(1,380)</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; background-color: white">(1,361)</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">(19)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; background-color: #F2F2F2">72,817</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; background-color: white">69,899</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">2,918</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Net working capital</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; background-color: #F2F2F2">&nbsp;</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">Inventories</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">4,414</TD>
    <TD STYLE="text-align: right; background-color: white">3,893</TD>
    <TD STYLE="text-align: right">521</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">Trade receivables</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">9,106</TD>
    <TD STYLE="text-align: right; background-color: white">7,087</TD>
    <TD STYLE="text-align: right">2,019</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">Trade payables</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">(9,565)</TD>
    <TD STYLE="text-align: right; background-color: white">(8,679)</TD>
    <TD STYLE="text-align: right">(886)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">Net tax assets (liabilities)</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">(3,806)</TD>
    <TD STYLE="text-align: right; background-color: white">(2,198)</TD>
    <TD STYLE="text-align: right">(1,608)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">Provisions</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">(13,659)</TD>
    <TD STYLE="text-align: right; background-color: white">(13,438)</TD>
    <TD STYLE="text-align: right">(221)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">Other current assets and liabilities</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; background-color: #F2F2F2">(631)</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; background-color: white">(1,328)</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">697</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; background-color: #F2F2F2">(14,141)</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; background-color: white">(14,663)</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">522</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Provisions for employee post-retirements benefits</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; background-color: #F2F2F2">(1,257)</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; background-color: white">(1,201)</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">(56)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Assets held for sale including related liabilities</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; background-color: #F2F2F2">45</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; background-color: white">44</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; background-color: white">1</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">CAPITAL EMPLOYED, NET</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: #F2F2F2">57,464</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: white">54,079</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">3,385</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: white">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">Eni's shareholders equity</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">39,875</TD>
    <TD STYLE="text-align: right; background-color: white">37,415</TD>
    <TD STYLE="text-align: right">2,460</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">Non-controlling interest</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">82</TD>
    <TD STYLE="text-align: right; background-color: white">78</TD>
    <TD STYLE="text-align: right">4</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Shareholders' equity</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; background-color: #F2F2F2">39,957</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; background-color: white">37,493</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">2,464</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Net borrowings before lease liabilities ex IFRS 16</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; background-color: #F2F2F2">12,239</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; background-color: white">11,568</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">671</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Lease liabilities</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; background-color: #F2F2F2">5,268</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; background-color: white">5,018</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">250</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">- of which Eni working interest</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">3,571</TD>
    <TD STYLE="text-align: right">3,366</TD>
    <TD STYLE="text-align: right">205</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">- of which Joint operators' working interest</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">1,697</TD>
    <TD STYLE="text-align: right">1,652</TD>
    <TD STYLE="text-align: right">45</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Net borrowings after lease liabilities ex IFRS 16</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; background-color: #F2F2F2">17,507</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; background-color: white">16,586</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">921</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 1pt solid; color: #C00000; font-weight: bold; text-align: right; background-color: #F2F2F2">57,464</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 1pt solid; color: #C00000; font-weight: bold; text-align: right; background-color: white">54,079</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 1pt solid; color: #C00000; font-weight: bold; text-align: right">3,385</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; font-weight: bold; text-align: left">Leverage before lease liabilities ex IFRS 16</TD>
    <TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">0.31</TD>
    <TD STYLE="font-weight: bold; text-align: right; background-color: white">0.31</TD>
    <TD STYLE="font-weight: bold; text-align: right; background-color: white">..</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; font-weight: bold; text-align: left">Leverage after lease liabilities ex IFRS 16</TD>
    <TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">0.44</TD>
    <TD STYLE="font-weight: bold; text-align: right; background-color: white">0.44</TD>
    <TD STYLE="font-weight: bold; text-align: right; background-color: white">..</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 2pt double; padding-left: 18px; font-weight: bold; text-align: left">Gearing</TD>
    <TD STYLE="border-bottom: Black 2pt double; font-weight: bold; text-align: right; background-color: #F2F2F2">0.30</TD>
    <TD STYLE="border-bottom: Black 2pt double; font-weight: bold; text-align: right; background-color: white">0.31</TD>
    <TD STYLE="border-bottom: Black 2pt double; font-weight: bold; text-align: right; background-color: white">..</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">As of March 31, 2021, <B>fixed assets</B> increased
by approximately &euro;3 billion mainly due to the appreciation of the US dollar vs. the EURO (the EUR vs. USD exchange rate was 1.17
as of March 31, 2021 vs. 1.22 as of December 31, 2020), while capital expenditures and acquisitions made in the period were offset by
DD&amp;A.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Net working capital</B> (-&euro;14 billion)
was broadly unchanged y-o-y. A higher balance between trade payables and trade receivables (approximately up by &euro;1.1 billion) and
an increased value of oil and products inventories due to the weighted-average cost method accounting in an environment of rising prices
(+&euro;0.5 billion) were offset by increased tax liabilities due to indirect taxes in Italy (payment of excise duties for the month of
December in the same month).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Shareholders&rsquo; equity</B> (&euro;40 billion)
increased by approximately &euro;2.5 billion compared to December 31, 2020 due to the net profit for the period (&euro;0.86 billion) and
positive foreign currency translation differences (+&euro;1.5 billion).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Net borrowings before lease liabilities</B><SUP>[1]</SUP>
as of March 31, 2021 were &euro;12.2 billion increasing by &euro;0.67 billion from 2020 mainly due to the financing of M&amp;A transactions
and exchange rate differences.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt/12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 14.2pt"><FONT STYLE="font-family: Symbol; color: #C00000">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Leverage</B><SUP>[2]</SUP> &ndash; the ratio
of the borrowings to total equity - was 0.31 at March 31, 2021 unchanged compared to December 31, 2020.</FONT></TD></TR></TABLE>

<P STYLE="color: #C00000; font: italic 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">&nbsp;</P>

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<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 3pt 0 0"><SUP>1</SUP> Details on net borrowings are furnished on page
23.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 3pt 0 0; text-align: justify"><SUP>2</SUP> Non-GAAP financial measures
and other alternative performance indicators disclosed throughout this press release are accompanied by explanatory notes and tables in
line with guidance provided by ESMA guidelines on alternative performance measures (ESMA/2015/1415), published on October 5, 2015. For
further information, see the section &ldquo;Non-GAAP measures&rdquo; of this press release. See pages 17 and subsequent.</P>

<P STYLE="font: 10pt/7pt Times New Roman, Times, Serif; margin: 3pt 0 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt/7pt Times New Roman, Times, Serif; margin: 3pt 0 0; text-align: justify"></P>


<P STYLE="font: italic 11pt Times New Roman, Times, Serif; margin: 0 0 6pt; color: rgb(192,0,0); text-align: justify">Other information, basis
of presentation and disclaimer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This press release on Eni&rsquo;s results for the
first quarter of 2021 has been prepared on a voluntary basis according to article 82-ter, Regulations on issuers (CONSOB Regulation No.
11971 of May 14, 1999 and subsequent amendments and inclusions). The disclosure of results and business trends on a quarterly basis is
consistent with Eni&rsquo;s policy to provide the market and investors with regular information about the Company&rsquo;s financial and
industrial performances and business prospects considering the reporting policy followed by oil&amp;gas peers who are communicating results
on quarterly basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Results and cash flow are presented for the first
quarter of 2021 and of 2020 as well as the fourth quarter of 2020. Information on the Company&rsquo;s financial position relates to end
of the periods as of March 31, 2021 and December 31, 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Accounts set forth herein have been prepared in accordance
with the evaluation and recognition criteria set by the International Financial Reporting Standards (IFRS) issued by the International
Accounting Standards Board (IASB) and adopted by the European Commission according to the procedure set forth in Article 6 of the European
Regulation (CE) No. 1606/2002 of the European Parliament and European Council of July 19, 2002.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt">These criteria are unchanged from the 2020 Annual Report on Form
20-F filed with the US SEC on April 2, 2021, which investors are urged to read.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">* * *</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Non-GAAP financial measures and other alternative
performance indicators disclosed throughout this press release are accompanied by explanatory notes and tables in line with guidance provided
by ESMA guidelines on alternative performance measures (ESMA/2015/1415), published on October 5, 2015. For further information, see the
section &ldquo;Alternative performance measures (Non-GAAP measures)&rdquo; of this press release.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>The manager responsible for the preparation of
the Company&rsquo;s financial reports, Francesco Esposito, declares pursuant to rule 154-bis paragraph 2 of Legislative Decree No. 58/1998
that data and information disclosed in this press release correspond to the Company&rsquo;s evidence and accounting books and records.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">* * *</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Disclaimer</B></P>

<P STYLE="font: 10pt/10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>This press release, in particular the statements
under the section &ldquo;Outlook&rdquo;, contains certain forward-looking statements particularly those regarding capital expenditure,
development and management of oil and gas resources, dividends, share repurchases, allocation of future cash flow from operations, future
operating performance, gearing, targets of production and sales growth, new markets and the progress and timing of projects. By their
nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that will
or may occur in the future. Actual results may differ from those expressed in such statements, depending on a variety of factors, including
the impact of the pandemic disease, the timing of bringing new fields on stream; management&rsquo;s ability in carrying out industrial
plans and in succeeding in commercial transactions; future levels of industry product supply; demand and pricing; operational issues;
general economic conditions; political stability and economic growth in relevant areas of the world; changes in laws and governmental
regulations; development and use of new technology; changes in public expectations and other changes in business conditions; the actions
of competitors and other factors discussed elsewhere in this document. Due to the seasonality in demand for natural gas and certain refined
products and the changes in a number of external factors affecting Eni&rsquo;s operations, such as prices and margins of hydrocarbons
and refined products, Eni&rsquo;s results from operations and changes in net borrowings for the quarter of the year cannot be extrapolated
on an annual basis.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">* * *</P>

<P STYLE="font: 10pt/10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Company Contacts</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Press Office: </B>Tel. +39.0252031875 - +39.0659822030</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Freephone for shareholders (from Italy): </B>800940924</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Freephone for shareholders (from abroad): </B>+80011223456</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Switchboard: </B>+39-0659821</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>ufficio.stampa@eni.com</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>segreteriasocietaria.azionisti@eni.com</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>investor.relations@eni.com</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>website: <FONT STYLE="color: Blue">www.eni.com</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/10pt Times New Roman, Times, Serif; margin: 0; text-align: center">* * *</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Eni</B></P>

<P STYLE="font: 10pt/10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Societ&agrave; per Azioni, Rome, Piazzale Enrico
Mattei, 1</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Share capital: &euro;4,005,358,876 fully paid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Tax identification number 00484960588</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Tel.: +39 0659821 - Fax: +39 0659822141</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This press release for the first quarter of 2021 (unaudited)
is also available on Eni&rsquo;s website eni.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: red">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: red">&nbsp;</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 2.5pt; white-space: nowrap; width: 5in; background-color: rgb(255,213,29); vertical-align: bottom; font-weight: bold; text-align: left">Alternative
    performance indicators (Non-GAAP measures)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</p>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Management evaluates underlying business performance
on the basis of Non-GAAP financial measures, which are not provided by IFRS (&ldquo;Alternative performance measures&rdquo;), such as
adjusted operating profit, adjusted net profit, which are arrived at by excluding from reported results certain gains and losses, defined
special items, which include, among others, asset impairments, including impairments of deferred tax assets, gains on disposals, risk
provisions, restructuring charges, the accounting effect of fair-valued derivatives used to hedge exposure to the commodity, exchange
rate and interest rate risks, which lack the formal criteria to be accounted as hedges, and analogously evaluation effects of assets and
liabilities utilized in a relation of natural hedge of the above mentioned market risks. Furthermore, in determining the business segments&rsquo;
adjusted results, finance charges on finance debt and interest income are excluded (see below). In determining adjusted results, inventory
holding gains or losses are excluded from base business performance, which is the difference between the cost of sales of the volumes
sold in the period based on the cost of supplies of the same period and the cost of sales of the volumes sold calculated using the weighted
average cost method of inventory accounting as required by IFRS, except in those business segments where inventories are utilized as a
lever to optimize margins.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Finally, the same special charges/gains are excluded
from the Eni&rsquo;s share of results at JVs and other equity accounted entities, including any profit/loss on inventory holding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Management is disclosing Non-GAAP measures of performance
to facilitate a comparison of base business performance across periods, and to allow financial analysts to evaluate Eni&rsquo;s trading
performance on the basis of their forecasting models.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Non-GAAP financial measures should be read
together with information determined by applying IFRS and do not stand in for them. Other companies may adopt different
methodologies to determine Non-GAAP measures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Follows the description of the main alternative performance
measures adopted by Eni. The measures reported below refer to the performance of the reporting periods disclosed in this press release:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0 0"><B><I>Adjusted operating and net profit</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Adjusted operating profit and adjusted net profit
are determined by excluding inventory holding gains or losses, special items and, in determining the business segments&rsquo; adjusted
results, finance charges on finance debt and interest income. The adjusted operating profit of each business segment reports gains and
losses on derivative financial instruments entered into to manage exposure to movements in foreign currency exchange rates, which impact
industrial margins and translation of commercial payables and receivables. Accordingly, also currency translation effects recorded through
profit and loss are reported within business segments&rsquo; adjusted operating profit. The taxation effect of the items excluded from
adjusted operating or net profit is determined based on the specific rate of taxes applicable to each of them.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Finance charges or income related to net
borrowings excluded from the adjusted net profit of business segments are comprised of interest charges on finance debt and interest
income earned on cash and cash equivalents not related to operations. Therefore, the adjusted net profit of business segments
includes finance charges or income deriving from certain segment operated assets, i.e., interest income on certain receivable
financing and securities related to operations and finance charge pertaining to the accretion of certain provisions recorded on a
discounted basis (as in the case of the asset retirement obligations in the Exploration &amp; Production segment).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0 0"><B><I>Inventory holding gain or loss</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This is the difference between the cost of sales of
the volumes sold in the period based on the cost of supplies of the same period and the cost of sales of the volumes sold calculated using
the weighted average cost method of inventory accounting as required by IFRS.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0 0"><B><I>Special items</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">These include certain significant income or
charges pertaining to either: (i) infrequent or unusual events and transactions, being identified as non-recurring items under such
circumstances; (ii) certain events or transactions which are not considered to be representative of the ordinary course of business,
as in the case of environmental provisions, restructuring charges, asset impairments or write ups and gains or losses on divestments
even though they occurred in past periods or are likely to occur in future ones. Exchange rate differences and derivatives relating
to industrial activities and commercial payables and receivables, particularly exchange rate derivatives to manage commodity pricing
formulas which are quoted in a currency other than the functional currency are reclassified in operating profit with a corresponding
adjustment to net finance charges, notwithstanding the handling of foreign currency exchange risks is made centrally by netting off
naturally-occurring opposite positions and then dealing with any residual risk exposure in the derivative market. Finally, special
items include the accounting effects of fair-valued commodity derivatives relating to commercial exposures, in addition to those
which lack the criteria to be designed as hedges, also those which are not eligible for the own use exemption, including the
ineffective portion of cash flow hedges, as well as the accounting effects of settled commodity and exchange rates derivatives
whenever it is deemed that the underlying transaction is expected to occur in future reporting periods.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Correspondently, special charges/gains also include
the evaluation effects relating to assets/liabilities utilized in a natural hedge relation to offset a market risk, as in the case of
accrued currency differences at finance debt denominated in a currency other than the reporting currency, where the cash outflows for
the reimbursement are matched by highly probable cash inflows in the same currency. The deferral of both the unrealized portion of fair-valued
commodity and other derivatives and evaluation effects are reversed to future reporting periods when the underlying transaction occurs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As provided for in Decision No. 15519 of July 27,
2006 of the Italian market regulator (CONSOB), non-recurring material income or charges are to be clearly reported in the management&rsquo;s
discussion and financial tables.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0 0"><B><I>Leverage</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Leverage is a Non-GAAP measure of the Company&rsquo;s
financial condition, calculated as the ratio between net borrowings and shareholders&rsquo; equity, including non-controlling interest.
Leverage is the reference ratio to assess the solidity and efficiency of the Group balance sheet in terms of incidence of funding sources
including third-party funding and equity as well as to carry out benchmark analysis with industry standards.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0 0"><B><I>Gearing</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Gearing is calculated as the ratio between net borrowings
and capital employed net and measures how much of capital employed net is financed recurring to third-party funding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0 0"><B><I>Cash flow from operations before changes in working capital
at replacement cost</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This is defined as net cash provided from operating
activities before changes in working capital at replacement cost. It also excludes certain non-recurring charges such as extraordinary
credit allowances and, considering the high market volatility, changes in the fair value of commodity derivatives lacking the formal criteria
to be designed as hedges, including derivatives which were not eligible for the own use exemption, the ineffective portion of cash flow
hedges, as well as the effects of certain settled commodity derivatives whenever it is deemed that the underlying transaction is expected
to occur in future reporting periods.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0 0"><B><I>Free cash flow</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Free cash flow represents the link existing
between changes in cash and cash equivalents (deriving from the statutory cash flows statement) and in net borrowings (deriving from
the summarized cash flow statement) that occurred from the beginning of the period to the end of period. Free cash flow is the cash
in excess of capital expenditure needs. Starting from free cash flow it is possible to determine either: (i) changes in cash and
cash equivalents for the period by adding/deducting cash flows relating to financing debts/receivables (issuance/repayment of debt
and receivables related to financing activities), shareholders&rsquo; equity (dividends paid, net repurchase of own shares, capital
issuance) and the effect of changes in consolidation and of exchange rate differences; (ii) changes in net borrowings for the period
by adding/deducting cash flows relating to shareholders&rsquo; equity and the effect of changes in consolidation and of exchange
rate differences.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0 0"><B><I>Net borrowings</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Net borrowings is calculated as total finance
debt less cash, cash equivalents and certain very liquid investments not related to operations, including among others non-operating
financing receivables. Financial activities are qualified as &ldquo;not related to operations&rdquo; when these are not strictly
related to the business operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Reconciliation tables of Non-GAAP results to the
most comparable measures of financial performance determined in accordance to GAAPs</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0; text-align: justify">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left; width: 43%">(&euro; million)</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; width: 8%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; width: 8%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; width: 8%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; width: 8%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; width: 8%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; width: 8%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; width: 8%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: left">First Quarter&nbsp;&nbsp;2021</TD>
    <TD ROWSPAN="3" STYLE="padding-right: 2.5pt; font: bold 8pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">Exploration &amp; Production</TD>
    <TD ROWSPAN="3" STYLE="padding-right: 2.5pt; font: bold 8pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">Global Gas &amp; LNG Portfolio</TD>
    <TD ROWSPAN="3" STYLE="padding-right: 2.5pt; font: bold 8pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">Refining &amp; Marketing and Chemicals</TD>
    <TD ROWSPAN="3" STYLE="padding-right: 2.5pt; font: bold 8pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">Eni gas e luce, Power &amp; Renewables</TD>
    <TD ROWSPAN="3" STYLE="padding-right: 2.5pt; font: bold 8pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">Corporate and other activities</TD>
    <TD ROWSPAN="3" STYLE="padding-right: 2.5pt; font: bold 8pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right">Impact of unrealized<BR>
intragroup profit<BR>
elimination</TD>
    <TD STYLE="padding-right: 2.5pt; font: bold 8pt Times New Roman, Times, Serif; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="padding-right: 2.5pt; font: bold 8pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: right; background-color: #D9D9D9">GROUP</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; padding-left: 9px; color: #C00000; font-weight: bold; text-align: left">Reported operating profit (loss)</TD>
    <TD STYLE="border-top: Black 1pt solid; color: #CC0000; font-weight: bold; text-align: right">1,396</TD>
    <TD STYLE="border-top: Black 1pt solid; color: #CC0000; font-weight: bold; text-align: right">71</TD>
    <TD STYLE="border-top: Black 1pt solid; color: #CC0000; font-weight: bold; text-align: right">309</TD>
    <TD STYLE="border-top: Black 1pt solid; color: #CC0000; font-weight: bold; text-align: right">230</TD>
    <TD STYLE="border-top: Black 1pt solid; color: #CC0000; font-weight: bold; text-align: right">(163)</TD>
    <TD STYLE="border-top: Black 1pt solid; color: #CC0000; font-weight: bold; text-align: right">19</TD>
    <TD STYLE="border-top: Black 1pt solid; color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; color: #CC0000; font-weight: bold; text-align: right; background-color: #D9D9D9">1,862</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 9px; text-align: left">Exclusion of inventory holding (gains) losses</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">(482)</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">18</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right; background-color: #D9D9D9">(464)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; color: #C00000; font-weight: bold; text-align: left">Exclusion of special items:</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right; background-color: #D9D9D9">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">environmental charges</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">24</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #D9D9D9">24</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">impairment losses (impairment reversals), net&nbsp;</TD>
    <TD STYLE="text-align: right">6</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">24</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">3</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #D9D9D9">33</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">net gains on disposal of assets</TD>
    <TD STYLE="text-align: right">(76)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(6)</TD>
    <TD STYLE="text-align: right">(1)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #D9D9D9">(83)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">risk provisions</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #D9D9D9">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">provision for redundancy incentives</TD>
    <TD STYLE="text-align: right">7</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">10</TD>
    <TD STYLE="text-align: right">1</TD>
    <TD STYLE="text-align: right">13</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #D9D9D9">31</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">commodity derivatives</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(154)</TD>
    <TD STYLE="text-align: right">22</TD>
    <TD STYLE="text-align: right">(26)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #D9D9D9">(158)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">exchange rate differences and derivatives</TD>
    <TD STYLE="text-align: right">6</TD>
    <TD STYLE="text-align: right">83</TD>
    <TD STYLE="text-align: right">(9)</TD>
    <TD STYLE="text-align: right">(2)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #D9D9D9">78</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">other</TD>
    <TD STYLE="text-align: right">39</TD>
    <TD STYLE="text-align: right">(30)</TD>
    <TD STYLE="text-align: right">(12)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #D9D9D9">(2)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 9px; color: #C00000; font-weight: bold; text-align: left">Special items of operating profit (loss)</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; color: #CC0000; font-weight: bold; text-align: right">(18)</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; color: #CC0000; font-weight: bold; text-align: right">(101)</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; color: #CC0000; font-weight: bold; text-align: right">53</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; color: #CC0000; font-weight: bold; text-align: right">(28)</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; color: #CC0000; font-weight: bold; text-align: right">17</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; color: #CC0000; font-weight: bold; text-align: right; background-color: #D9D9D9">(77)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; color: #C00000; font-weight: bold; text-align: left">Adjusted operating profit (loss)</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">1,378</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">(30)</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">(120)</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">202</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">(146)</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">37</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right; background-color: #D9D9D9">1,321</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; text-align: left">Net finance (expense) income &#8317;&#7491;&#8318;</TD>
    <TD STYLE="text-align: right">(96)</TD>
    <TD STYLE="text-align: right">(3)</TD>
    <TD STYLE="text-align: right">(12)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(139)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #D9D9D9">(250)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; text-align: left">Net income (expense) from investments &#8317;&#7491;&#8318;</TD>
    <TD STYLE="text-align: right">90</TD>
    <TD STYLE="text-align: right">(3)</TD>
    <TD STYLE="text-align: right">(31)</TD>
    <TD STYLE="text-align: right">6</TD>
    <TD STYLE="text-align: right">(37)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #D9D9D9">25</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 0.5pt solid; padding-left: 9px; text-align: left">Income taxes &#8317;&#7491;&#8318;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">(642)</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">6</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">32</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">(55)</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">(153)</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">(10)</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; background-color: #D9D9D9">(822)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; font-style: italic; text-align: left">Tax rate (%)</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: right; background-color: #D9D9D9">75.0</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 9px; color: #C00000; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: left">Adjusted net profit (loss)</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">730</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">(30)</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">(131)</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">153</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">(475)</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">27</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right; background-color: #D9D9D9">274</TD></TR>
  <TR>
    <TD STYLE="padding-left: 9px; font-style: italic; vertical-align: bottom; text-align: left; border-top-color: Black; border-top-width: 0.5pt">of which:</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; border-top-color: Black; border-top-width: 0.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; border-top-color: Black; border-top-width: 0.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; border-top-color: Black; border-top-width: 0.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; border-top-color: Black; border-top-width: 0.5pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right; background-color: #D9D9D9">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; text-align: left">- Adjusted net profit (loss) of non-controlling interest</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #D9D9D9">4</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; color: #C00000; font-weight: bold; text-align: left">- Adjusted net profit (loss) attributable to Eni's shareholders</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right; background-color: #D9D9D9">270</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; color: #C00000; font-weight: bold; text-align: left">Reported net profit (loss) attributable to Eni's shareholders</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: #D9D9D9">856</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; text-align: left">Exclusion of inventory holding (gains) losses</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: #D9D9D9">(329)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; text-align: left">Exclusion of special items</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #D9D9D9">(257)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 2pt double; padding-left: 9px; color: #C00000; font-weight: bold; text-align: left">Adjusted net profit (loss) attributable to Eni's shareholders</TD>
    <TD STYLE="border-bottom: Black 2pt double; color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; color: #CC0000; font-weight: bold; text-align: right; background-color: #D9D9D9">270</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9" STYLE="font: 8pt Times New Roman, Times, Serif; border-top: Black 0.5pt solid; text-align: left">(a) Excluding special items.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

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<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left; width: 43%">(&euro; million)</TD>
    <TD STYLE="text-align: right; width: 8%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 8%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 8%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 8%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 8%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 8%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 8%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-top: Black 0.5pt solid; font-weight: bold; vertical-align: bottom; text-align: left">First Quarter&nbsp;&nbsp;2020</TD>
    <TD ROWSPAN="3" STYLE="border-top: Black 0.5pt solid; font: bold 8pt Times New Roman, Times, Serif; padding-right: 2.5pt; vertical-align: bottom; text-align: right">Exploration &amp; Production</TD>
    <TD ROWSPAN="3" STYLE="border-top: Black 0.5pt solid; font: bold 8pt Times New Roman, Times, Serif; padding-right: 2.5pt; vertical-align: bottom; text-align: right">Global Gas &amp; LNG Portfolio</TD>
    <TD ROWSPAN="3" STYLE="border-top: Black 0.5pt solid; font: bold 8pt Times New Roman, Times, Serif; padding-right: 2.5pt; vertical-align: bottom; text-align: right">Refining &amp; Marketing and Chemicals</TD>
    <TD ROWSPAN="3" STYLE="border-top: Black 0.5pt solid; font: bold 8pt Times New Roman, Times, Serif; padding-right: 2.5pt; vertical-align: bottom; text-align: center">Eni gas e luce, Power &amp; Renewables</TD>
    <TD ROWSPAN="3" STYLE="border-top: Black 0.5pt solid; font: bold 8pt Times New Roman, Times, Serif; padding-right: 2.5pt; vertical-align: bottom; text-align: right">Corporate and other activities</TD>
    <TD ROWSPAN="3" STYLE="border-top: Black 0.5pt solid; font: bold 8pt Times New Roman, Times, Serif; padding-right: 2.5pt; vertical-align: bottom; text-align: right">Impact of unrealized<BR>
intragroup profit<BR>
elimination</TD>
    <TD STYLE="border-top: Black 0.5pt solid; font: bold 8pt Times New Roman, Times, Serif; padding-right: 2.5pt; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="border-top: Black 0.5pt solid; font: bold 8pt Times New Roman, Times, Serif; padding-right: 2.5pt; vertical-align: bottom; text-align: right; background-color: #D9D9D9">GROUP</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-left: 9px; color: #C00000; font-weight: bold; text-align: left">Reported operating profit (loss)</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; color: #CC0000; font-weight: bold; text-align: right">715</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; color: #CC0000; font-weight: bold; text-align: right">101</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; color: #CC0000; font-weight: bold; text-align: right">(1,910)</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; color: #CC0000; font-weight: bold; text-align: right">100</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; color: #CC0000; font-weight: bold; text-align: right">(249)</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; color: #CC0000; font-weight: bold; text-align: right">148</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; color: #CC0000; font-weight: bold; text-align: right; background-color: #D9D9D9">(1,095)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; text-align: left">Exclusion of inventory holding (gains) losses</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">1,691</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(114)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #D9D9D9">1,577</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; color: #C00000; font-weight: bold; text-align: left">Exclusion of special items:</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right; background-color: #D9D9D9">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">environmental charges</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">15</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #D9D9D9">15</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">impairment losses (impairment reversals), net&nbsp;</TD>
    <TD STYLE="text-align: right">197</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">139</TD>
    <TD STYLE="text-align: right">1</TD>
    <TD STYLE="text-align: right">4</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #D9D9D9">341</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">net gains on disposal of assets</TD>
    <TD STYLE="text-align: right">1</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(3)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #D9D9D9">(2)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">risk provisions</TD>
    <TD STYLE="text-align: right">27</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(1)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #D9D9D9">26</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">provision for redundancy incentives</TD>
    <TD STYLE="text-align: right">5</TD>
    <TD STYLE="text-align: right">1</TD>
    <TD STYLE="text-align: right">3</TD>
    <TD STYLE="text-align: right">1</TD>
    <TD STYLE="text-align: right">12</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #D9D9D9">22</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">commodity derivatives</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">92</TD>
    <TD STYLE="text-align: right">85</TD>
    <TD STYLE="text-align: right">92</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #D9D9D9">269</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">exchange rate differences and derivatives</TD>
    <TD STYLE="text-align: right">(1)</TD>
    <TD STYLE="text-align: right">49</TD>
    <TD STYLE="text-align: right">(7)</TD>
    <TD STYLE="text-align: right">(3)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #D9D9D9">38</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">other</TD>
    <TD STYLE="text-align: right">93</TD>
    <TD STYLE="text-align: right">(10)</TD>
    <TD STYLE="text-align: right">3</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">30</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #D9D9D9">116</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-left: 9px; color: #C00000; font-weight: bold; text-align: left">Special items of operating profit (loss)</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; color: #CC0000; font-weight: bold; text-align: right">322</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; color: #CC0000; font-weight: bold; text-align: right">132</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; color: #CC0000; font-weight: bold; text-align: right">235</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; color: #CC0000; font-weight: bold; text-align: right">91</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; color: #CC0000; font-weight: bold; text-align: right">45</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; color: #CC0000; font-weight: bold; text-align: right; background-color: #D9D9D9">825</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; color: #C00000; font-weight: bold; text-align: left">Adjusted operating profit (loss)</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">1,037</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">233</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">16</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">191</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">(204)</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">34</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right; background-color: #D9D9D9">1,307</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; text-align: left">Net finance (expense) income &#8317;&#7491;&#8318;</TD>
    <TD STYLE="text-align: right">(115)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(8)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(337)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #D9D9D9">(460)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; text-align: left">Net income (expense) from investments &#8317;&#7491;&#8318;</TD>
    <TD STYLE="text-align: right">(59)</TD>
    <TD STYLE="text-align: right">(9)</TD>
    <TD STYLE="text-align: right">(10)</TD>
    <TD STYLE="text-align: right">8</TD>
    <TD STYLE="text-align: right">(3)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #D9D9D9">(73)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; text-align: left">Income taxes &#8317;&#7491;&#8318;</TD>
    <TD STYLE="text-align: right">(651)</TD>
    <TD STYLE="text-align: right">(52)</TD>
    <TD STYLE="text-align: right">(62)</TD>
    <TD STYLE="text-align: right">(60)</TD>
    <TD STYLE="text-align: right">121</TD>
    <TD STYLE="text-align: right">(9)</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #D9D9D9">(713)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; font-style: italic; text-align: left">Tax rate (%)</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: right; background-color: #D9D9D9">92.1</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 0.5pt solid; padding-left: 9px; color: #C00000; font-weight: bold; vertical-align: middle; text-align: left">Adjusted net profit (loss)</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; color: #CC0000; font-weight: bold; vertical-align: bottom; text-align: right">212</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; color: #CC0000; font-weight: bold; vertical-align: bottom; text-align: right">172</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; color: #CC0000; font-weight: bold; vertical-align: bottom; text-align: right">(64)</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; color: #CC0000; font-weight: bold; vertical-align: bottom; text-align: right">139</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; color: #CC0000; font-weight: bold; vertical-align: bottom; text-align: right">(423)</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; color: #CC0000; font-weight: bold; vertical-align: bottom; text-align: right">25</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; color: #CC0000; font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; color: #CC0000; font-weight: bold; vertical-align: bottom; text-align: right; background-color: #D9D9D9">61</TD></TR>
  <TR>
    <TD STYLE="padding-left: 9px; font-style: italic; vertical-align: bottom; text-align: left">of which:</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right; background-color: #D9D9D9">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; text-align: left">- Adjusted net profit (loss) of non-controlling interest</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #D9D9D9">2</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; color: #C00000; font-weight: bold; text-align: left">- Adjusted net profit (loss) attributable to Eni's shareholders</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right; background-color: #D9D9D9">59</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; color: #C00000; font-weight: bold; text-align: left">Reported net profit (loss) attributable to Eni's shareholders</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: #D9D9D9">(2,929)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; text-align: left">Exclusion of inventory holding (gains) losses</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: #D9D9D9">1,118</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; text-align: left">Exclusion of special items</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #D9D9D9">1,870</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 2pt double; padding-left: 9px; color: #C00000; font-weight: bold; text-align: left">Adjusted net profit (loss) attributable to Eni's shareholders</TD>
    <TD STYLE="border-bottom: Black 2pt double; color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 2pt double; color: #CC0000; font-weight: bold; text-align: right; background-color: #D9D9D9">59</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9" STYLE="font: 8pt Times New Roman, Times, Serif; border-top: Black 0.5pt solid; text-align: left">(a) Excluding special items.</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0; text-align: justify">&nbsp;</P>

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<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: left; width: 43%">(&euro; million)</TD>
    <TD STYLE="text-align: right; width: 8%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 8%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 8%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 8%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 8%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 8%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: right; width: 8%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-top: Black 0.5pt solid; font-weight: bold; vertical-align: bottom; text-align: left">Fourth Quarter 2020</TD>
    <TD ROWSPAN="3" STYLE="font: bold 8pt Times New Roman, Times, Serif; border-top: Black 0.5pt solid; vertical-align: bottom; text-align: right">Exploration &amp; Production</TD>
    <TD ROWSPAN="3" STYLE="font: bold 8pt Times New Roman, Times, Serif; border-top: Black 0.5pt solid; vertical-align: bottom; text-align: right">Global Gas &amp; LNG Portfolio</TD>
    <TD ROWSPAN="3" STYLE="font: bold 8pt Times New Roman, Times, Serif; border-top: Black 0.5pt solid; vertical-align: bottom; text-align: right">Refining &amp; Marketing and Chemicals</TD>
    <TD ROWSPAN="3" STYLE="font: bold 8pt Times New Roman, Times, Serif; border-top: Black 0.5pt solid; vertical-align: bottom; text-align: center">Eni gas e luce, Power &amp; Renewables</TD>
    <TD ROWSPAN="3" STYLE="font: bold 8pt Times New Roman, Times, Serif; border-top: Black 0.5pt solid; vertical-align: bottom; text-align: right">Corporate and other activities</TD>
    <TD ROWSPAN="3" STYLE="font: bold 8pt Times New Roman, Times, Serif; border-top: Black 0.5pt solid; vertical-align: bottom; text-align: right">Impact of unrealized<BR>
intragroup profit<BR>
elimination</TD>
    <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; border-top: Black 0.5pt solid; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="font: bold 8pt Times New Roman, Times, Serif; border-top: Black 0.5pt solid; vertical-align: bottom; text-align: right; background-color: #D9D9D9">GROUP</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 0.5pt solid; padding-left: 9px; color: #C00000; font-weight: bold; text-align: left">Reported operating profit (loss)</TD>
    <TD STYLE="border-top: Black 0.5pt solid; color: #CC0000; font-weight: bold; text-align: right">554</TD>
    <TD STYLE="border-top: Black 0.5pt solid; color: #CC0000; font-weight: bold; text-align: right">(290)</TD>
    <TD STYLE="border-top: Black 0.5pt solid; color: #CC0000; font-weight: bold; text-align: right">(139)</TD>
    <TD STYLE="border-top: Black 0.5pt solid; color: #CC0000; font-weight: bold; text-align: right">404</TD>
    <TD STYLE="border-top: Black 0.5pt solid; color: #CC0000; font-weight: bold; text-align: right">(51)</TD>
    <TD STYLE="border-top: Black 0.5pt solid; color: #CC0000; font-weight: bold; text-align: right">(198)</TD>
    <TD STYLE="border-top: Black 0.5pt solid; color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; color: #CC0000; font-weight: bold; text-align: right; background-color: #D9D9D9">280</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 0.5pt solid; padding-left: 9px; text-align: left">Exclusion of inventory holding (gains) losses</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">(110)</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">41</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; background-color: #D9D9D9">(69)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; color: #C00000; font-weight: bold; text-align: left">Exclusion of special items:</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right; background-color: #D9D9D9">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">environmental charges</TD>
    <TD STYLE="text-align: right">18</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">11</TD>
    <TD STYLE="text-align: right">1</TD>
    <TD STYLE="text-align: right">(130)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #D9D9D9">(100)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">impairment losses (impairment reversals), net&nbsp;</TD>
    <TD STYLE="text-align: right">231</TD>
    <TD STYLE="text-align: right">2</TD>
    <TD STYLE="text-align: right">201</TD>
    <TD STYLE="text-align: right">(4)</TD>
    <TD STYLE="text-align: right">8</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #D9D9D9">438</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">net gains on disposal of assets</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(3)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #D9D9D9">(3)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">risk provisions</TD>
    <TD STYLE="text-align: right">7</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">5</TD>
    <TD STYLE="text-align: right">10</TD>
    <TD STYLE="text-align: right">14</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #D9D9D9">36</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">provision for redundancy incentives</TD>
    <TD STYLE="text-align: right">17</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">18</TD>
    <TD STYLE="text-align: right">(7)</TD>
    <TD STYLE="text-align: right">4</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #D9D9D9">32</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">commodity derivatives</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">389</TD>
    <TD STYLE="text-align: right">(60)</TD>
    <TD STYLE="text-align: right">(278)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #D9D9D9">51</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">exchange rate differences and derivatives</TD>
    <TD STYLE="text-align: right">6</TD>
    <TD STYLE="text-align: right">(83)</TD>
    <TD STYLE="text-align: right">25</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #D9D9D9">(52)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">other</TD>
    <TD STYLE="text-align: right">(31)</TD>
    <TD STYLE="text-align: right">(119)</TD>
    <TD STYLE="text-align: right">(52)</TD>
    <TD STYLE="text-align: right">6</TD>
    <TD STYLE="text-align: right">71</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #D9D9D9">(125)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; padding-left: 9px; color: #C00000; font-weight: bold; text-align: left">Special items of operating profit (loss)</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; color: #CC0000; font-weight: bold; text-align: right">248</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; color: #CC0000; font-weight: bold; text-align: right">189</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; color: #CC0000; font-weight: bold; text-align: right">145</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; color: #CC0000; font-weight: bold; text-align: right">(272)</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; color: #CC0000; font-weight: bold; text-align: right">(33)</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; color: #CC0000; font-weight: bold; text-align: right; background-color: #D9D9D9">277</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; color: #C00000; font-weight: bold; text-align: left">Adjusted operating profit (loss)</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">802</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">(101)</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">(104)</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">132</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">(84)</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">(157)</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right; background-color: #D9D9D9">488</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; text-align: left">Net finance (expense) income &#8317;&#7491;&#8318;</TD>
    <TD STYLE="text-align: right">(45)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(1)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">(130)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #D9D9D9">(176)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; text-align: left">Net income (expense) from investments &#8317;&#7491;&#8318;</TD>
    <TD STYLE="text-align: right">161</TD>
    <TD STYLE="text-align: right">(4)</TD>
    <TD STYLE="text-align: right">(71)</TD>
    <TD STYLE="text-align: right">2</TD>
    <TD STYLE="text-align: right">(26)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #D9D9D9">62</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 0.5pt solid; padding-left: 9px; text-align: left">Income taxes &#8317;&#7491;&#8318;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">(290)</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">26</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">(29)</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">(39)</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">(20)</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">30</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; color: white; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; background-color: #D9D9D9">(322)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; font-style: italic; text-align: left">Tax rate (%)</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="color: white; font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: right; background-color: #D9D9D9">86.1</TD></TR>
  <TR>
    <TD STYLE="padding-left: 9px; color: #C00000; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: left">Adjusted net profit (loss)</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; vertical-align: bottom; text-align: right">628</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; vertical-align: bottom; text-align: right">(79)</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; vertical-align: bottom; text-align: right">(205)</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right">95</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right">(260)</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right">(127)</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; vertical-align: bottom; border-bottom: Black 0.5pt solid; text-align: right; background-color: #D9D9D9">52</TD></TR>
  <TR>
    <TD STYLE="padding-left: 9px; font-style: italic; vertical-align: bottom; text-align: left; border-top-color: Black; border-top-width: 0.5pt">of which:</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right; background-color: #D9D9D9">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; text-align: left">- Adjusted net profit (loss) of non-controlling interest</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #D9D9D9">2</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; color: #C00000; font-weight: bold; text-align: left">- Adjusted net profit (loss) attributable to Eni's shareholders</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right; background-color: #D9D9D9">50</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; color: #C00000; font-weight: bold; text-align: left">Reported net profit (loss) attributable to Eni's shareholders</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: #D9D9D9">(797)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; text-align: left">Exclusion of inventory holding (gains) losses</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: #D9D9D9">(49)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; text-align: left">Exclusion of special items</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #D9D9D9">896</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; color: #C00000; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: left">Adjusted net profit (loss) attributable to Eni's shareholders</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: #D9D9D9">50</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="9" STYLE="font: 8pt Times New Roman, Times, Serif; border-top: Black 0.5pt solid; text-align: left">(a) Excluding special items.</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0; text-align: justify"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 1pt 0; text-align: justify">Breakdown of special items</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: right">IVQ&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">IQ&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right; width: 10%">2020</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; width: 70%">(&euro; million)</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right; width: 10%">2021</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right; width: 10%">2020</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">(100)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Environmental charges</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">24</TD>
    <TD STYLE="text-align: right">15</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">438</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Impairment losses (impairment reversals), net&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">33</TD>
    <TD STYLE="text-align: right">341</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">(3)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Net gains on disposal of assets</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(83)</TD>
    <TD STYLE="text-align: right">(2)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">36</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Risk provisions</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">26</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">32</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Provisions for redundancy incentives</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">31</TD>
    <TD STYLE="text-align: right">22</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">51</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Commodity derivatives</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(158)</TD>
    <TD STYLE="text-align: right">269</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">(52)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Exchange rate differences and derivatives</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">78</TD>
    <TD STYLE="text-align: right">38</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">(125)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Other</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(2)</TD>
    <TD STYLE="text-align: right">116</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #C00000; font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">277</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Special items of operating profit (loss)</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(77)</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">825</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">68</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Net finance (income) expense</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; text-align: right">(77)</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">(52)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">of which:</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-weight: bold; font-style: italic">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic; text-align: right">52</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">- exchange rate differences and derivatives reclassified to operating profit (loss)</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">(78)</TD>
    <TD STYLE="font-style: italic; text-align: right">(38)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">399</TD>
    <TD STYLE="padding-left: 18px; color: #CC0000; font-weight: bold; text-align: left">Net income (expense) from investments</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #CC0000; font-weight: bold; text-align: right">(47)</TD>
    <TD STYLE="color: #CC0000; font-weight: bold; text-align: right">817</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">of which:</TD>
    <TD STYLE="background-color: rgb(242,242,242)">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic; text-align: right">370</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">- impairment/revaluation of equity investments</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">(47)</TD>
    <TD STYLE="font-style: italic; text-align: right">595</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">152</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Income taxes</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; text-align: right">(56)</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">280</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #C00000; font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">896</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Total special items of net profit (loss)</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(257)</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">1,870</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 2.5pt; white-space: nowrap; width: 5in; background-color: rgb(255,213,29); vertical-align: bottom; font-weight: bold; text-align: left">Analysis
    of Profit and Loss account items</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</p>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Sales from operations</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: right">IVQ&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">IQ&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; vertical-align: middle; text-align: right; width: 10%">2020</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center; width: 60%">(&euro; million)</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(242,242,242); font-weight: bold; vertical-align: middle; text-align: right; width: 10%">2021</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; vertical-align: middle; text-align: right; width: 10%">2020</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; vertical-align: middle; text-align: right; width: 10%">% Ch.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">3,495</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Exploration &amp; Production</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">4,231</TD>
    <TD STYLE="text-align: right">4,194</TD>
    <TD STYLE="text-align: right">1</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">2,198</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Global Gas &amp; LNG Portfolio</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">2,915</TD>
    <TD STYLE="text-align: right">2,480</TD>
    <TD STYLE="text-align: right">18</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">6,557</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Refining &amp; Marketing and Chemicals</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">7,887</TD>
    <TD STYLE="text-align: right">7,450</TD>
    <TD STYLE="text-align: right">6</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">2,122</TD>
    <TD STYLE="padding-left: 18px; text-align: left">EGL, Power &amp; Renewables</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">2,730</TD>
    <TD STYLE="text-align: right">2,649</TD>
    <TD STYLE="text-align: right">3</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">446</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Corporate and other activities</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">386</TD>
    <TD STYLE="text-align: right">383</TD>
    <TD STYLE="text-align: right">1</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">(3,187)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Consolidation adjustments</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(3,655)</TD>
    <TD STYLE="text-align: right">(3,283)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 2pt double; color: #C00000; font-weight: bold; text-align: right">11,631</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; background-color: rgb(242,242,242); color: #C00000; font-weight: bold; text-align: right">14,494</TD>
    <TD STYLE="border-bottom: Black 2pt double; color: #C00000; font-weight: bold; text-align: right">13,873</TD>
    <TD STYLE="border-bottom: Black 2pt double; color: #C00000; font-weight: bold; text-align: right">4</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Operating expenses</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 9px; font-weight: bold; text-align: right">IVQ&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">IQ&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; vertical-align: middle; text-align: right; width: 10%">2020</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center; width: 60%">(&euro; million)</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(242,242,242); font-weight: bold; vertical-align: middle; text-align: right; width: 10%">2021</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; vertical-align: middle; text-align: right; width: 10%">2020</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; vertical-align: middle; text-align: right; width: 10%">% Ch.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 9px; text-align: right">8,834</TD>
    <TD STYLE="padding-left: 9px; text-align: left">Purchases, services and other&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">10,260</TD>
    <TD STYLE="text-align: right">11,669</TD>
    <TD STYLE="padding-right: 9px; text-align: right">(12)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 9px; text-align: right">12</TD>
    <TD STYLE="padding-left: 9px; text-align: left">Impairment losses (impairment reversals) of trade and other receivables, net</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">134</TD>
    <TD STYLE="text-align: right">72</TD>
    <TD STYLE="padding-right: 9px; text-align: right">86</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 9px; text-align: right">644</TD>
    <TD STYLE="padding-left: 9px; text-align: left">Payroll and related costs</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">791</TD>
    <TD STYLE="text-align: right">838</TD>
    <TD STYLE="padding-right: 9px; text-align: right">(6)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 9px; font-style: italic; text-align: right">32</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">of which:&nbsp;&nbsp;&nbsp;provision for redundancy incentives and other</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">31</TD>
    <TD STYLE="font-style: italic; text-align: right">22</TD>
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 2pt double; padding-right: 9px; color: #C00000; font-weight: bold; text-align: right">9,490</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; background-color: rgb(242,242,242); color: #C00000; font-weight: bold; text-align: right">11,185</TD>
    <TD STYLE="border-bottom: Black 2pt double; color: #C00000; font-weight: bold; text-align: right">12,579</TD>
    <TD STYLE="border-bottom: Black 2pt double; padding-right: 9px; color: #C00000; font-weight: bold; text-align: right">(11)</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">DD&amp;A, impairments, reversals and write-off</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 9px; font-weight: bold; text-align: right">IVQ&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">IQ&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; vertical-align: middle; text-align: right; width: 10%">2020</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center; width: 60%">(&euro; million)</TD>
    <TD STYLE="border-bottom: Black 1pt solid; background-color: rgb(242,242,242); font-weight: bold; vertical-align: middle; text-align: right; width: 10%">2021</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; vertical-align: middle; text-align: right; width: 10%">2020</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 9px; font-weight: bold; vertical-align: middle; text-align: right; width: 10%">% Ch.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">1,407</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Exploration &amp; Production&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">1,442</TD>
    <TD STYLE="text-align: right">1,621</TD>
    <TD STYLE="text-align: right">(11)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">31</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Global Gas &amp; LNG Portfolio</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">35</TD>
    <TD STYLE="text-align: right">32</TD>
    <TD STYLE="text-align: right">9</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">142</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Refining &amp; Marketing and Chemicals</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">138</TD>
    <TD STYLE="text-align: right">149</TD>
    <TD STYLE="text-align: right">(7)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">61</TD>
    <TD STYLE="padding-left: 18px; text-align: left">EGL, Power &amp; Renewables</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">58</TD>
    <TD STYLE="text-align: right">50</TD>
    <TD STYLE="text-align: right">16</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">37</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Corporate and other activities</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">35</TD>
    <TD STYLE="text-align: right">36</TD>
    <TD STYLE="text-align: right">(3)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">(8)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Impact of unrealized intragroup profit elimination</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(8)</TD>
    <TD STYLE="text-align: right">(8)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">1,670</TD>
    <TD STYLE="padding-left: 18px; font-weight: bold; text-align: left">Total depreciation, depletion and amortization</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">1,700</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">1,880</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">(10)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">438</TD>
    <TD STYLE="padding-left: 18px; font-weight: bold; vertical-align: bottom; text-align: left">Impairment losses (impairment reversals) of tangible and intangible and right of use assets, net</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">33</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">341</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">(90)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #C00000; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">2,108</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Depreciation, depletion, amortization, impairments and reversals</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">1,733</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">2,221</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(22)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">18</TD>
    <TD STYLE="padding-left: 18px; font-weight: bold; text-align: left">Write-off of tangible and intangible assets</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">5</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">118</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">(96)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 2pt double; color: #C00000; font-weight: bold; text-align: right; border-top-color: Black; border-top-width: 0.5pt">2,126</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; background-color: rgb(242,242,242); color: #C00000; font-weight: bold; text-align: right; border-top-color: Black; border-top-width: 0.5pt">1,738</TD>
    <TD STYLE="border-bottom: Black 2pt double; color: #C00000; font-weight: bold; text-align: right; border-top-color: Black; border-top-width: 0.5pt">2,339</TD>
    <TD STYLE="border-bottom: Black 2pt double; color: #C00000; font-weight: bold; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(26)</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Income (expense) from investments</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; border-bottom: Black 0.5pt solid; text-align: left; width: 46%">(&euro; million)</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; width: 9%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; width: 9%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; width: 9%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; width: 9%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; width: 9%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; width: 9%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="white-space: nowrap; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: left; border-top-color: Black; border-top-width: 0.5pt">First Quarter&nbsp;&nbsp;2021</TD>
    <TD STYLE="padding-left: 2.5pt; font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; border-bottom: Black 0.5pt solid; text-align: right">Exploration &amp;<BR>
Production</TD>
    <TD STYLE="padding-left: 2.5pt; font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; border-bottom: Black 0.5pt solid; text-align: right">Global Gas &amp; <BR>
LNG Portfolio</TD>
    <TD STYLE="padding-left: 2.5pt; font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; border-bottom: Black 0.5pt solid; text-align: right">Refining &amp; <BR>
Marketing and <BR>
Chemicals</TD>
    <TD STYLE="padding-left: 2.5pt; font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; border-bottom: Black 0.5pt solid; text-align: right">Eni gas e luce, <BR>
Power &amp; <BR>
Renewables</TD>
    <TD STYLE="padding-left: 2.5pt; font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; border-bottom: Black 0.5pt solid; text-align: right">Corporate and <BR>
other activities</TD>
    <TD STYLE="padding-left: 2.5pt; font: bold 8pt Times New Roman, Times, Serif; white-space: nowrap; color: #C00000; border-bottom: Black 0.5pt solid; text-align: right; background-color: #F2F2F2">Group</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Share of profit (loss) from equity-accounted investments</TD>
    <TD STYLE="text-align: right">68</TD>
    <TD STYLE="text-align: right">(3)</TD>
    <TD STYLE="text-align: right">13</TD>
    <TD STYLE="text-align: right">6</TD>
    <TD STYLE="text-align: right">(42)</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; background-color: #F2F2F2">42</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Dividends&nbsp;</TD>
    <TD STYLE="text-align: right">24</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">3</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; background-color: #F2F2F2">27</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">Other income (expense), net</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">3</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; background-color: #F2F2F2">3</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #CC0000; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: left">&nbsp;</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">92</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">16</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">6</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right">(42)</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 2pt double; text-align: right; background-color: #F2F2F2">72</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0 6pt"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0 6pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 2.5pt; white-space: nowrap; width: 5in; background-color: rgb(255,213,29); vertical-align: bottom; font-weight: bold; text-align: left">Leverage
    and net borrowings</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</p>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 3pt 0 0; text-align: justify">Leverage is a measure used by management
to assess the Company&rsquo;s level of indebtedness. It is calculated as a ratio of net borrowings to shareholders&rsquo; equity, including
non-controlling interest. Management periodically reviews leverage in order to assess the soundness and efficiency of the Group balance
sheet in terms of optimal mix between net borrowings and net equity, and to carry out benchmark analysis with industry standards.</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 3pt 0 0; text-align: justify">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; width: 55%">(&euro; million)</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 1pt solid; text-align: right; background-color: #F2F2F2; width: 15%">March 31, 2021</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 1pt solid; text-align: right; width: 15%">Dec. 31, 2020</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 1pt solid; text-align: right; width: 15%">Change</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; text-align: left">Total debt</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">27,026</TD>
    <TD STYLE="text-align: right">26,686</TD>
    <TD STYLE="text-align: right">340</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">&nbsp;-&nbsp;&nbsp;Short-term debt</TD>
    <TD STYLE="font-style: italic; text-align: right; background-color: #F2F2F2">4,654</TD>
    <TD STYLE="font-style: italic; text-align: right">4,791</TD>
    <TD STYLE="font-style: italic; text-align: right">(137)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">&nbsp;-&nbsp;&nbsp;Long-term debt</TD>
    <TD STYLE="font-style: italic; text-align: right; background-color: #F2F2F2">22,372</TD>
    <TD STYLE="font-style: italic; text-align: right">21,895</TD>
    <TD STYLE="font-style: italic; text-align: right">477</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; text-align: left">Cash and cash equivalents</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">(8,460)</TD>
    <TD STYLE="text-align: right">(9,413)</TD>
    <TD STYLE="text-align: right">953</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; text-align: left">Securities held for trading&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">(6,158)</TD>
    <TD STYLE="text-align: right">(5,502)</TD>
    <TD STYLE="text-align: right">(656)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; text-align: left">Financing receivables held for non-operating purposes</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">(169)</TD>
    <TD STYLE="text-align: right">(203)</TD>
    <TD STYLE="text-align: right">34</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 9px; color: #C00000; font-weight: bold; text-align: left">Net borrowings before lease liabilities ex IFRS 16</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: #F2F2F2">12,239</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">11,568</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">671</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; text-align: left">Lease Liabilities&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">5,268</TD>
    <TD STYLE="text-align: right">5,018</TD>
    <TD STYLE="text-align: right">250</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; text-align: left">- of which Eni working interest</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">3,571</TD>
    <TD STYLE="text-align: right">3,366</TD>
    <TD STYLE="text-align: right">205</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; text-align: left">- of which Joint operators' working interest</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">1,697</TD>
    <TD STYLE="text-align: right">1,652</TD>
    <TD STYLE="text-align: right">45</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 9px; color: #C00000; font-weight: bold; text-align: left">Net borrowings after lease liabilities ex IFRS 16</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: #F2F2F2">17,507</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">16,586</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">921</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 9px; font-weight: bold; text-align: left">Shareholders' equity including non-controlling interest</TD>
    <TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">39,957</TD>
    <TD STYLE="font-weight: bold; text-align: right">37,493</TD>
    <TD STYLE="font-weight: bold; text-align: right">2,464</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 9px; color: #C00000; font-weight: bold; text-align: left">Leverage before lease liability ex IFRS 16</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; background-color: #F2F2F2">0.31</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">0.31</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-bottom: Black 2pt double; padding-left: 9px; color: #C00000; font-weight: bold; text-align: left">Leverage after lease liability ex IFRS 16</TD>
    <TD STYLE="border-bottom: Black 2pt double; color: #C00000; font-weight: bold; text-align: right; background-color: #F2F2F2">0.44</TD>
    <TD STYLE="border-bottom: Black 2pt double; color: #C00000; font-weight: bold; text-align: right; background-color: white">0.44</TD>
    <TD STYLE="border-bottom: Black 2pt double; color: #C00000; font-weight: bold; text-align: right">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0 6pt; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Pro-forma leverage</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center; width: 55%">(&euro; million)</TD>
    <TD STYLE="padding-left: 2.5pt; white-space: nowrap; font-weight: bold; vertical-align: middle; border-bottom: Black 1pt solid; text-align: right; background-color: #F2F2F2; width: 15%">Reported measure</TD>
    <TD STYLE="padding-left: 2.5pt; white-space: nowrap; font-weight: bold; vertical-align: middle; border-bottom: Black 1pt solid; text-align: right; width: 15%">Lease liabilities of <BR>
Joint operators' <BR>
working interest</TD>
    <TD STYLE="padding-left: 2.5pt; white-space: nowrap; font-weight: bold; vertical-align: middle; border-bottom: Black 1pt solid; text-align: right; width: 15%">Pro-forma <BR>
measure</TD></TR>
  <TR>
    <TD STYLE="padding-left: 9px; font-weight: bold; vertical-align: middle; text-align: left">Net borrowings after lease liabilities ex IFRS 16</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right; background-color: #F2F2F2">17,507</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">1,697</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">15,810</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-left: 9px; font-weight: bold; vertical-align: middle; text-align: left">Shareholders' equity including non-controlling interest</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right; background-color: #F2F2F2">39,957</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">39,957</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 9px; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 9px; color: #C00000; font-weight: bold; border-bottom: Black 2pt double; text-align: left">Pro-forma leverage</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-bottom: Black 2pt double; text-align: right; background-color: #F2F2F2">0.44</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-bottom: Black 2pt double; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-bottom: Black 2pt double; text-align: right">0.40</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 6pt 0 1pt; text-align: justify">Pro-forma leverage is net of followers&rsquo;
lease liabilities which are recovered through a cash call mechanism.</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 6pt 0 1pt; text-align: justify">Net borrowings are calculated under CONSOB
provisions on Net Financial Position (Com. no. DEM/6064293 of 2006).</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 6pt 0 1pt; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 2.5pt; white-space: nowrap; width: 5in; background-color: rgb(255,213,29); vertical-align: bottom; font-weight: bold; text-align: left">Condolidated
    financial statements</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</p>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>BALANCE SHEET</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B></B></FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center; width: 78%">(&euro; million)</TD>
    <TD STYLE="vertical-align: middle; text-align: center; width: 11%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: left; width: 11%">&nbsp;</TD></TR>
  <TR STYLE="font: bold 8pt Times New Roman, Times, Serif">
    <TD STYLE="padding-right: 2.5pt; font: bold 8pt Times New Roman, Times, Serif; vertical-align: bottom; border-top: Black 0.5pt solid; text-align: right; padding-left: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-right: 2.5pt; font: bold 8pt Times New Roman, Times, Serif; vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; background-color: #F2F2F2; padding-left: 2.5pt">March 31, 2021</TD>
    <TD STYLE="padding-right: 2.5pt; font: bold 8pt Times New Roman, Times, Serif; vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right; padding-left: 2.5pt">Dec. 31, 2020</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; font-weight: bold; text-align: left">ASSETS</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; font-weight: bold; text-align: left">Current assets</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">Cash and cash equivalents&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">8,460</TD>
    <TD STYLE="text-align: right">9,413</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">Other financial activities held for trading</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">6,158</TD>
    <TD STYLE="text-align: right">5,502</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">Other financial assets</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">219</TD>
    <TD STYLE="text-align: right">254</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">Trade and other receivables&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">13,391</TD>
    <TD STYLE="text-align: right">10,926</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">Inventories&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">4,414</TD>
    <TD STYLE="text-align: right">3,893</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">Income tax assets</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">190</TD>
    <TD STYLE="text-align: right">184</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">Other assets&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">2,975</TD>
    <TD STYLE="text-align: right">2,686</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; text-align: right; background-color: #F2F2F2">35,807</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; text-align: right">32,858</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; font-weight: bold; text-align: left">Non-current assets</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">Property, plant and equipment&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">55,869</TD>
    <TD STYLE="text-align: right">53,943</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">Right of use assets</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">4,804</TD>
    <TD STYLE="text-align: right">4,643</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">Intangible assets&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">3,117</TD>
    <TD STYLE="text-align: right">2,936</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">Inventory - compulsory stock&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">1,196</TD>
    <TD STYLE="text-align: right">995</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">Equity-accounted investments&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">7,171</TD>
    <TD STYLE="text-align: right">6,749</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">Other investments&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">982</TD>
    <TD STYLE="text-align: right">957</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">Other financial assets</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">1,031</TD>
    <TD STYLE="text-align: right">1,008</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">Deferred tax assets&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">4,123</TD>
    <TD STYLE="text-align: right">4,109</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">Income tax assets</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">145</TD>
    <TD STYLE="text-align: right">153</TD></TR>
  <TR>
    <TD STYLE="padding-left: 18px; vertical-align: middle; text-align: left">Other assets</TD>
    <TD STYLE="vertical-align: bottom; text-align: right; background-color: #F2F2F2">1,235</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1,253</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; text-align: right; background-color: #F2F2F2">79,673</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; text-align: right">76,746</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; font-weight: bold; text-align: left">Assets held for sale</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right; background-color: #F2F2F2">154</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">44</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">TOTAL ASSETS</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: #F2F2F2">115,634</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">109,648</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; font-weight: bold; text-align: left">LIABILITIES AND SHAREHOLDERS' EQUITY</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; font-weight: bold; text-align: left">Current liabilities</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">Short-term debt</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">3,118</TD>
    <TD STYLE="text-align: right">2,882</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">Current portion of long-term debt</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">1,536</TD>
    <TD STYLE="text-align: right">1,909</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">Current portion of long-term lease liabilities</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">892</TD>
    <TD STYLE="text-align: right">849</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">Trade and other payables</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">13,754</TD>
    <TD STYLE="text-align: right">12,936</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">Income taxes payable</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">429</TD>
    <TD STYLE="text-align: right">243</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">Other liabilities</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">5,994</TD>
    <TD STYLE="text-align: right">4,872</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; text-align: right; background-color: #F2F2F2">25,723</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; text-align: right">23,691</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; font-weight: bold; text-align: left">Non-current liabilities</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">Long-term debt&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">22,372</TD>
    <TD STYLE="text-align: right">21,895</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">Long-term lease liabilities</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">4,376</TD>
    <TD STYLE="text-align: right">4,169</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">Provisions for contingencies&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">13,659</TD>
    <TD STYLE="text-align: right">13,438</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">Provisions for employee benefits&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">1,257</TD>
    <TD STYLE="text-align: right">1,201</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">Deferred tax liabilities</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">5,759</TD>
    <TD STYLE="text-align: right">5,524</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">Income taxes payable</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">358</TD>
    <TD STYLE="text-align: right">360</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">Other liabilities&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; background-color: #F2F2F2">2,064</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">1,877</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; font-weight: bold; text-align: left">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">49,845</TD>
    <TD STYLE="font-weight: bold; text-align: right">48,464</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 18px; font-weight: bold; text-align: left">Liabilities directly associated with assets held for sale</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right; background-color: #F2F2F2">109</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">TOTAL LIABILITIES</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; background-color: #F2F2F2">75,677</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">72,155</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">Share capital&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">4,005</TD>
    <TD STYLE="text-align: right">4,005</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">Retained earnings</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">25,394</TD>
    <TD STYLE="text-align: right">34,043</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">Cumulative currency translation differences</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">5,426</TD>
    <TD STYLE="text-align: right">3,895</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">Other reserves and equity instruments</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">4,775</TD>
    <TD STYLE="text-align: right">4,688</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">Treasury shares&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">(581)</TD>
    <TD STYLE="text-align: right">(581)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; text-align: left">Net profit&nbsp;&nbsp;(loss)</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">856</TD>
    <TD STYLE="text-align: right">(8,635)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; font-weight: bold; text-align: left">Total Eni shareholders' equity</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; text-align: right; background-color: #F2F2F2">39,875</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; text-align: right">37,415</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; font-weight: bold; text-align: left">Non-controlling interest&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right; background-color: #F2F2F2">82</TD>
    <TD STYLE="font-weight: bold; text-align: right">78</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">TOTAL SHAREHOLDERS' EQUITY&nbsp;</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; background-color: #F2F2F2">39,957</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">37,493</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; border-bottom: Black 2pt double; text-align: left">TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-bottom: Black 2pt double; text-align: right; background-color: #F2F2F2">115,634</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-bottom: Black 2pt double; text-align: right">109,648</TD></TR>
  </TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0"><B></B>&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 1pt 0"><B>GROUP PROFIT AND LOSS ACCOUNT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: center; width: 11%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 67%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 11%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 11%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">IVQ&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; vertical-align: bottom; text-align: center">IQ&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right">2020</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center">(&euro; million)</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right">2021</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right">2020</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">11,631</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Sales from operations&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">14,494</TD>
    <TD STYLE="text-align: right">13,873</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">306</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Other income and revenues&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">305</TD>
    <TD STYLE="text-align: right">213</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">11,937</TD>
    <TD STYLE="padding-left: 18px; font-weight: bold; vertical-align: bottom; text-align: left">Total revenues</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">14,799</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">14,086</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">(8,834)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Purchases, services and other</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(10,260)</TD>
    <TD STYLE="text-align: right">(11,669)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">(12)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Impairment reversals (impairment losses) of trade and other receivables, net</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(134)</TD>
    <TD STYLE="text-align: right">(72)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">(644)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Payroll and related costs</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(791)</TD>
    <TD STYLE="text-align: right">(838)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">(41)</TD>
    <TD STYLE="padding-left: 18px; vertical-align: bottom; text-align: left">Other operating (expense) income</TD>
    <TD STYLE="background-color: rgb(242,242,242); vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">(14)</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">(263)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">(1,670)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Depreciation, Depletion and Amortization</TD>
    <TD STYLE="background-color: rgb(242,242,242); border-bottom: Black 0.5pt solid; text-align: right">(1,700)</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">(1,880)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">(438)</TD>
    <TD STYLE="padding-left: 18px; vertical-align: bottom; text-align: left">Impairment reversals (impairment losses) of tangible, intangible and right of use assets, net</TD>
    <TD STYLE="background-color: rgb(242,242,242); vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">(33)</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">(341)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">(18)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Write-off of tangible and intangible assets</TD>
    <TD STYLE="background-color: rgb(242,242,242); border-bottom: Black 0.5pt solid; text-align: right">(5)</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">(118)</TD></TR>
  <TR>
    <TD STYLE="color: #C00000; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">280</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; vertical-align: bottom; text-align: left">OPERATING PROFIT (LOSS)</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">1,862</TD>
    <TD STYLE="color: #C00000; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">(1,095)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">355</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Finance income</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">1,239</TD>
    <TD STYLE="text-align: right">1,345</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">(857)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Finance expense</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(1,149)</TD>
    <TD STYLE="text-align: right">(1,518)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">13</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Net finance income (expense) from financial assets held for trading</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">8</TD>
    <TD STYLE="text-align: right">(99)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">245</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Derivative financial instruments</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(271)</TD>
    <TD STYLE="text-align: right">(136)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">(244)</TD>
    <TD STYLE="padding-left: 18px; font-weight: bold; text-align: left">FINANCE INCOME (EXPENSE)</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">(173)</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">(408)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">(355)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Share of profit (loss) of equity-accounted investments&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">42</TD>
    <TD STYLE="text-align: right">(876)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">18</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Other gain (loss) from investments</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">30</TD>
    <TD STYLE="text-align: right">(14)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">(337)</TD>
    <TD STYLE="padding-left: 18px; font-weight: bold; text-align: left">INCOME (EXPENSE) FROM INVESTMENTS</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">72</TD>
    <TD STYLE="font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right">(890)</TD></TR>
  <TR>
    <TD STYLE="color: #C00000; font-weight: bold; vertical-align: middle; text-align: right">(301)</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; vertical-align: bottom; text-align: left">PROFIT (LOSS) BEFORE INCOME TAXES&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; vertical-align: middle; text-align: right; border-top-color: Black; border-top-width: 0.5pt">1,761</TD>
    <TD STYLE="color: #C00000; font-weight: bold; vertical-align: middle; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(2,393)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">(494)</TD>
    <TD STYLE="padding-left: 18px; vertical-align: bottom; text-align: left">Income taxes&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">(901)</TD>
    <TD STYLE="vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">(534)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">(795)</TD>
    <TD STYLE="padding-left: 18px; font-weight: bold; vertical-align: bottom; text-align: left">Net profit (loss)</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-weight: bold; vertical-align: middle; text-align: right">860</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">(2,927)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; vertical-align: bottom; text-align: left">attributable to:</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: right">(797)</TD>
    <TD STYLE="padding-left: 9px; vertical-align: middle; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;- Eni's shareholders</TD>
    <TD STYLE="background-color: rgb(242,242,242); vertical-align: top; text-align: right">856</TD>
    <TD STYLE="vertical-align: top; text-align: right">(2,929)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; text-align: right">2</TD>
    <TD STYLE="padding-left: 9px; vertical-align: bottom; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;- Non-controlling interest</TD>
    <TD STYLE="background-color: rgb(242,242,242); vertical-align: top; text-align: right">4</TD>
    <TD STYLE="vertical-align: top; text-align: right">2</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: top; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; font-weight: bold; vertical-align: bottom; text-align: left">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-weight: bold; vertical-align: top; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: top; border-bottom: Black 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; font-weight: bold; vertical-align: bottom; text-align: left">Earnings per share (&euro; per share)</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-weight: bold; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">(0.22)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">- basic</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">0.24</TD>
    <TD STYLE="text-align: right">(0.82)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">(0.22)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">- diluted</TD>
    <TD STYLE="background-color: rgb(242,242,242); border-bottom: Black 0.5pt solid; text-align: right">0.24</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">(0.82)</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; font-weight: bold; vertical-align: bottom; text-align: left">Weighted average number of shares outstanding (million)</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-weight: bold; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">3,572.5</TD>
    <TD STYLE="padding-left: 18px; text-align: left">- basic</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">3,572.5</TD>
    <TD STYLE="text-align: right">3,572.5</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 2pt double; vertical-align: bottom; text-align: right">3,576.8</TD>
    <TD STYLE="padding-left: 18px; vertical-align: top; text-align: left">- diluted</TD>
    <TD STYLE="border-bottom: Black 2pt double; background-color: rgb(242,242,242); vertical-align: top; text-align: right">3,579.0</TD>
    <TD STYLE="border-bottom: Black 2pt double; vertical-align: top; text-align: right">3,574.8</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0; text-align: justify"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0; text-align: justify"><B>&nbsp;</B></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0; text-align: justify"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 1pt 0; text-align: justify"><B>COMPREHENSIVE INCOME (LOSS)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">IQ&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; width: 80%">(&euro; million)&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right; width: 10%">2021</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right; width: 10%">2020</TD></TR>
  <TR>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; vertical-align: bottom; text-align: left">Net profit (loss)&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; vertical-align: middle; text-align: right">860</TD>
    <TD STYLE="color: #C00000; font-weight: bold; vertical-align: middle; text-align: right">(2,927)</TD></TR>
  <TR>
    <TD STYLE="padding-left: 18px; font-weight: bold; vertical-align: bottom; text-align: left">Items that are not reclassified to profit or loss in later periods</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-weight: bold; vertical-align: middle; text-align: right">(7)</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">(4)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">Change in the fair value of interests with effects on other comprehensive income</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">(7)</TD>
    <TD STYLE="font-style: italic; text-align: right">(4)</TD></TR>
  <TR>
    <TD STYLE="padding-left: 18px; font-weight: bold; vertical-align: bottom; text-align: left">Items that may be reclassified to profit in later periods</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-weight: bold; vertical-align: middle; text-align: right">1,636</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">407</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">Currency translation differences</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">1,531</TD>
    <TD STYLE="font-style: italic; text-align: right">578</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">Change in the fair value of cash flow hedging derivatives</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">172</TD>
    <TD STYLE="font-style: italic; text-align: right">(427)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">Share of other comprehensive income on equity-accounted entities</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">(18)</TD>
    <TD STYLE="font-style: italic; text-align: right">133</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">Taxation&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">(49)</TD>
    <TD STYLE="font-style: italic; text-align: right">123</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Total other items of comprehensive income (loss)</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">1,629</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">403</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Total comprehensive income (loss)</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; text-align: right; border-top-color: Black; border-top-width: 0.5pt">2,489</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; border-top-color: Black; border-top-width: 0.5pt">(2,524)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="padding-left: 18px; text-align: left">attributable to:</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-left: 27px; color: #C00000; font-weight: bold; vertical-align: bottom; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;- Eni's shareholders</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; vertical-align: middle; text-align: right">2,485</TD>
    <TD STYLE="color: #C00000; font-weight: bold; vertical-align: middle; text-align: right">(2,526)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 2pt double; padding-left: 27px; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;- Non-controlling interest</TD>
    <TD STYLE="border-bottom: Black 2pt double; background-color: rgb(242,242,242); text-align: right">4</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right">2</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 1pt 0; text-align: justify"><B>CHANGES IN SHAREHOLDERS&rsquo; EQUITY </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: center; width: 79%">(&euro; million)</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right; width: 10%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: center; width: 10%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Shareholders' equity at January 1, 2020</TD>
    <TD STYLE="color: #C00000; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-right: 9px; color: #C00000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">47,900</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">Total comprehensive income (loss)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">(2,524)</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">Other changes</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">9</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-left: 18px; font-weight: bold; vertical-align: bottom; text-align: left">Total changes</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">(2,515)</TD></TR>
  <TR>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; vertical-align: bottom; text-align: left">Shareholders' equity at March 31, 2020</TD>
    <TD STYLE="color: #C00000; font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #C00000; font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="color: #C00000; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">45,385</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">attributable to:</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; color: #C00000; font-weight: bold; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;- Eni's shareholders</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">45,277</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;- Non-controlling interest</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">108</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Shareholders' equity at January 1, 2021</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #C00000; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">37,493</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">Total comprehensive income (loss)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">2,489</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">Payments on perpetual subordinated bonds</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">(10)</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; text-align: left">Other changes</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">(15)</TD>
    <TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 18px; font-weight: bold; text-align: left">Total changes</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-right: 9px; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right">2,464</TD></TR>
  <TR>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; vertical-align: bottom; text-align: left">Shareholders' equity at March 31, 2021</TD>
    <TD STYLE="color: #C00000; font-weight: bold; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="padding-right: 9px; color: #C00000; font-weight: bold; vertical-align: bottom; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #C00000; font-weight: bold; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right">39,957</TD></TR>
  <TR>
    <TD STYLE="padding-left: 18px; vertical-align: bottom; text-align: left">attributable to:</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 9px; font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 27px; color: #C00000; font-weight: bold; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;- Eni's shareholders</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">39,875</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 2pt double; padding-left: 27px; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;- Non-controlling interest</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: center">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; text-align: right">82</TD></TR>
  </TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 1pt; text-align: justify"><B>&nbsp;</B></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 1pt 0; text-align: justify"><B>GROUP CASH FLOW STATEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 1pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B></B></FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: right">IVQ&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">IQ&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right; width: 11%">2020</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; width: 67%">(&euro; million)</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right; width: 11%">2021</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right; width: 11%">2020</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">(795)</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Net profit (loss)</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; text-align: right">860</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">(2,927)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; vertical-align: bottom; text-align: left">Adjustments to reconcile net profit (loss) to net cash provided by operating activities:</TD>
    <TD STYLE="background-color: rgb(242,242,242); vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right; background-color: white">1,670</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Depreciation, depletion and amortization&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">1,700</TD>
    <TD STYLE="text-align: right">1,880</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right; background-color: white">438</TD>
    <TD STYLE="padding-left: 18px; text-align: left">&nbsp;Impairment losses (impairment reversals) of tangible, intangible and right of use, net</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">33</TD>
    <TD STYLE="text-align: right">341</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right; background-color: white">18</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Write-off of tangible and intangible assets</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">5</TD>
    <TD STYLE="text-align: right">118</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right; background-color: white">355</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Share of (profit) loss of equity-accounted investments&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(42)</TD>
    <TD STYLE="text-align: right">876</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right; background-color: white">(3)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Gains on disposal of assets, net&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(82)</TD>
    <TD STYLE="text-align: right">(3)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right; background-color: white">(46)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Dividend income&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(27)</TD>
    <TD STYLE="text-align: right">(16)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right; background-color: white">(30)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Interest income&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(21)</TD>
    <TD STYLE="text-align: right">(28)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right; background-color: white">209</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Interest expense</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">194</TD>
    <TD STYLE="text-align: right">231</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right; background-color: white">494</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Income taxes&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">901</TD>
    <TD STYLE="text-align: right">534</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right; background-color: white">(1)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Other changes</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(263)</TD>
    <TD STYLE="text-align: right">83</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right; background-color: white">(632)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Cash flow from changes in working capital</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(1,191)</TD>
    <TD STYLE="text-align: right">685</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-style: italic; text-align: right; background-color: white">(24)</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">- inventories</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">(604)</TD>
    <TD STYLE="font-style: italic; text-align: right">1,777</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-style: italic; text-align: right; background-color: white">(177)</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">- trade receivables</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">(1,688)</TD>
    <TD STYLE="font-style: italic; text-align: right">225</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-style: italic; text-align: right; background-color: white">1,077</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">- trade payables</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">513</TD>
    <TD STYLE="font-style: italic; text-align: right">(1,624)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-style: italic; text-align: right; background-color: white">(580)</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">- provisions for contingencies</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">(77)</TD>
    <TD STYLE="font-style: italic; text-align: right">(96)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-style: italic; text-align: right; background-color: white">(928)</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">- other assets and liabilities</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">665</TD>
    <TD STYLE="font-style: italic; text-align: right">403</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right; background-color: white">(4)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Net change in the provisions for employee benefits</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">30</TD>
    <TD STYLE="text-align: right">37</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right; background-color: white">96</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Dividends received</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">150</TD>
    <TD STYLE="text-align: right">156</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right; background-color: white">21</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Interest received</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">12</TD>
    <TD STYLE="text-align: right">23</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right; background-color: white">(177)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Interest paid</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(220)</TD>
    <TD STYLE="text-align: right">(277)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right; background-color: white">(625)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Income taxes paid, net of tax receivables received</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(663)</TD>
    <TD STYLE="text-align: right">(738)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">988</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Net cash provided by operating activities&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; text-align: right">1,376</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">975</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right">(1,312)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Cash flow from investing activities&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(1,702)</TD>
    <TD STYLE="text-align: right">(1,957)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-style: italic; text-align: right">(1,099)</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">- tangible assets</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">(1,093)</TD>
    <TD STYLE="font-style: italic; text-align: right">(1,529)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-style: italic; text-align: right">(88)</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">- intangible assets</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">(46)</TD>
    <TD STYLE="font-style: italic; text-align: right">(61)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">- consolidated subsidiaries and businesses net of cash and cash equivalent acquired</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: right">(99)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-style: italic; text-align: right">(33)</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">- investments</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">(520)</TD>
    <TD STYLE="font-style: italic; text-align: right">(123)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-style: italic; text-align: right">(37)</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">- securities and financing receivables held for operating purposes&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">(27)</TD>
    <TD STYLE="font-style: italic; text-align: right">(50)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-style: italic; text-align: right">(55)</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">- change in payables in relation to investing activities&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">(16)</TD>
    <TD STYLE="font-style: italic; text-align: right">(95)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right">95</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Cash flow from disposals</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">217</TD>
    <TD STYLE="text-align: right">60</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-style: italic; text-align: right">5</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">- tangible assets</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">88</TD>
    <TD STYLE="font-style: italic; text-align: right">4</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">- consolidated subsidiaries and businesses net of cash and cash equivalent disposed of</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">81</TD>
    <TD STYLE="font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-style: italic; text-align: right">10</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">- investments</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: right">4</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-style: italic; text-align: right">37</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">- securities and financing receivables held for operating purposes&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">58</TD>
    <TD STYLE="font-style: italic; text-align: right">52</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="font-style: italic; text-align: right">43</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">- change in receivables in relation to disposals</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">(10)</TD>
    <TD STYLE="font-style: italic; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="text-align: right">186</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Net change in receivables and securities not held for operating purposes</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(551)</TD>
    <TD STYLE="text-align: right">(735)</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="border-bottom: Black 2pt double; color: #C00000; font-weight: bold; text-align: right">(1,031)</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Net cash used in investing activities</TD>
    <TD STYLE="background-color: rgb(242,242,242); border-bottom: Black 2pt double; color: #C00000; font-weight: bold; text-align: right">(2,036)</TD>
    <TD STYLE="border-bottom: Black 2pt double; color: #C00000; font-weight: bold; text-align: right">(2,632)</TD></TR>
  </TABLE>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 1pt 0; text-align: justify"><B>GROUP CASH FLOW STATEMENT (continued)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 1pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B></B></FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: right">IVQ&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">IQ&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right; width: 11%">2020</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; width: 67%">(&euro; million)</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right; width: 11%">2021</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right; width: 11%">2020</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">146</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Increase in long-term debt&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">221</TD>
    <TD STYLE="text-align: right">999</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">(479)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Repayments of long-term debt</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(448)</TD>
    <TD STYLE="text-align: right">(1,035)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">(193)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Repayment of lease liabilities</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(219)</TD>
    <TD STYLE="text-align: right">(249)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">169</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Increase (decrease) in short-term financial debt</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">131</TD>
    <TD STYLE="text-align: right">(416)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">(8)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Dividends paid to Eni's shareholders</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">2,975</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Issue of perpetual subordinated bonds</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Payments on perpetual subordinated bonds</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">(10)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">2,610</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Net cash used in financing activities</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; text-align: right">(325)</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">(701)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">(33)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Effect of exchange rate changes on cash and cash equivalents and other changes</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">36</TD>
    <TD STYLE="text-align: right">5</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">2,534</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Net increase (decrease) in cash and cash equivalent</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; text-align: right">(949)</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">(2,353)</TD></TR>
  <TR>
    <TD STYLE="color: #C00000; font-weight: bold; vertical-align: middle; text-align: right">6,879</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; vertical-align: bottom; text-align: left">Cash and cash equivalents - beginning of the period&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; vertical-align: middle; text-align: right">9,413</TD>
    <TD STYLE="color: #C00000; font-weight: bold; vertical-align: middle; text-align: right">5,994</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 2pt double; color: #C00000; font-weight: bold; text-align: right">9,413</TD>
    <TD STYLE="border-bottom: Black 2pt double; padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Cash and cash equivalents - end of the period &#8317;&#7491;&#8318;</TD>
    <TD STYLE="border-bottom: Black 2pt double; background-color: rgb(242,242,242); color: #C00000; font-weight: bold; text-align: right">8,464</TD>
    <TD STYLE="border-bottom: Black 2pt double; color: #C00000; font-weight: bold; text-align: right">3,641</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="font: 8pt Times New Roman, Times, Serif; text-align: justify">(a) Cash and cash equivalents as of March 31, 2021, include &euro;4 million of cash and cash equivalents of consolidated subsidiaries held for sale that were reported in the item Assets held for sale in the balance sheet.&nbsp;</TD></TR>
  </TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 1pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 1pt 0; text-align: justify"><B>SUPPLEMENTAL INFORMATION</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 1pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B></B></FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: right">IVQ&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">IQ&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right; width: 11%">2020</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; width: 67%">(&euro; million)</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right; width: 11%">2021</TD>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right; width: 11%">2020</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; font-weight: bold; text-align: left">Investment of consolidated subsidiaries and businesses</TD>
    <TD STYLE="font-weight: bold; background-color: #F2F2F2">&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Current assets</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD>
    <TD STYLE="text-align: right">14</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">11</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Non-current assets&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD>
    <TD STYLE="text-align: right">171</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Cash and cash equivalents (net borrowings)</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD>
    <TD STYLE="text-align: right">(63)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">(6)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Current and non-current liabilities</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD>
    <TD STYLE="text-align: right">(9)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">5</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Net effect of investments</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; background-color: #F2F2F2">&nbsp;</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">113</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">(5)</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Non-controlling interest</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD>
    <TD STYLE="text-align: right">(11)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Purchase price</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; background-color: #F2F2F2">&nbsp;</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">102</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">less:</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Cash and cash equivalents</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD>
    <TD STYLE="text-align: right">(3)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Investment of consolidated subsidiaries and businesses net of cash and cash equivalent acquired</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; background-color: #F2F2F2">&nbsp;</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">99</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 9px; text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="color: #C00000; font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; font-weight: bold; vertical-align: middle; text-align: left">Disposal of consolidated subsidiaries and businesses</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: #F2F2F2">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="color: #C00000; font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; vertical-align: middle; text-align: left">Disposal of non-current assets</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: #F2F2F2">240</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="color: #C00000; font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; vertical-align: middle; text-align: left">less:</TD>
    <TD STYLE="font-style: italic; vertical-align: middle; text-align: right; background-color: #F2F2F2">&nbsp;</TD>
    <TD STYLE="font-style: italic; vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="color: #C00000; font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; font-weight: bold; vertical-align: middle; text-align: left">Investments in consolidated subsidiaries and businesses&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right; background-color: #F2F2F2">&nbsp;</TD>
    <TD STYLE="vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Current assets</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">371</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Non-current assets&nbsp;</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">394</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Net borrowings</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">(128)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Current and non-current liabilities</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">(436)</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Net effect of investments&nbsp;</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; background-color: #F2F2F2">201</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Net effect of disposals</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right; background-color: #F2F2F2">39</TD>
    <TD STYLE="color: #C00000; font-weight: bold; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Cash and cash equivalents acquired</TD>
    <TD STYLE="text-align: right; background-color: #F2F2F2">42</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 2pt double; color: #C00000; font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2pt double; padding-left: 18px; color: #C00000; font-weight: bold; vertical-align: bottom; text-align: left">Disposal of consolidated subsidiaries and businesses net of cash and cash equivalent divested</TD>
    <TD STYLE="border-bottom: Black 2pt double; color: #C00000; font-weight: bold; vertical-align: middle; text-align: right; background-color: #F2F2F2">81</TD>
    <TD STYLE="border-bottom: Black 2pt double; color: #C00000; font-weight: bold; vertical-align: middle; text-align: right">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 0">Capital expenditure</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 9px; font-weight: bold; text-align: right">IVQ&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">IQ&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right; width: 10%">2020</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; border-bottom: Black 1pt solid; text-align: center; width: 60%">(&euro; million)</TD>
    <TD STYLE="background-color: rgb(242,242,242); padding-right: 9px; font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right; width: 10%">2021</TD>
    <TD STYLE="padding-right: 9px; font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right; width: 10%">2020</TD>
    <TD STYLE="padding-right: 9px; font-weight: bold; vertical-align: middle; border-bottom: Black 1pt solid; text-align: right; width: 10%">% Ch.</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">781</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Exploration &amp; Production</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">856</TD>
    <TD STYLE="text-align: right">1,258</TD>
    <TD STYLE="text-align: right">(32)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic; text-align: right; background-color: white">6</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">- acquisition of proved and unproved properties</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">13</TD>
    <TD STYLE="font-style: italic; text-align: right">&nbsp;</TD>
    <TD STYLE="font-style: italic; text-align: right">..</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic; text-align: right; background-color: white">9</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">- exploration</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">34</TD>
    <TD STYLE="font-style: italic; text-align: right">171</TD>
    <TD STYLE="font-style: italic; text-align: right">(80)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic; text-align: right; background-color: white">754</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">- development</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">801</TD>
    <TD STYLE="font-style: italic; text-align: right">1,070</TD>
    <TD STYLE="font-style: italic; text-align: right">(25)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic; text-align: right; background-color: white">12</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">- other expenditure</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">8</TD>
    <TD STYLE="font-style: italic; text-align: right">17</TD>
    <TD STYLE="font-style: italic; text-align: right">(53)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">3</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Global Gas &amp; LNG Portfolio</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">5</TD>
    <TD STYLE="text-align: right">..</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">256</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Refining &amp; Marketing and Chemicals</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">127</TD>
    <TD STYLE="text-align: right">235</TD>
    <TD STYLE="text-align: right">(46)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic; text-align: right">214</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">- Refining &amp; Marketing</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">95</TD>
    <TD STYLE="font-style: italic; text-align: right">169</TD>
    <TD STYLE="font-style: italic; text-align: right">(44)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic; text-align: right">42</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">- Chemicals</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">32</TD>
    <TD STYLE="font-style: italic; text-align: right">66</TD>
    <TD STYLE="font-style: italic; text-align: right">(52)</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">89</TD>
    <TD STYLE="padding-left: 18px; text-align: left">EGL, Power &amp; Renewables</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">84</TD>
    <TD STYLE="text-align: right">71</TD>
    <TD STYLE="text-align: right">18</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic; text-align: right">71</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">&nbsp;- EGL &amp; Renewables</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">66</TD>
    <TD STYLE="font-style: italic; text-align: right">65</TD>
    <TD STYLE="font-style: italic; text-align: right">2</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-style: italic; text-align: right">18</TD>
    <TD STYLE="padding-left: 18px; font-style: italic; text-align: left">- Power</TD>
    <TD STYLE="background-color: rgb(242,242,242); font-style: italic; text-align: right">18</TD>
    <TD STYLE="font-style: italic; text-align: right">6</TD>
    <TD STYLE="text-align: right">..</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">58</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Corporate and other activities</TD>
    <TD STYLE="background-color: rgb(242,242,242); text-align: right">74</TD>
    <TD STYLE="text-align: right">23</TD>
    <TD STYLE="text-align: right">..</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 18px; text-align: left">Impact of unrealized intragroup profit elimination</TD>
    <TD STYLE="background-color: rgb(242,242,242); border-bottom: Black 0.5pt solid; text-align: right">(2)</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">(2)</TD>
    <TD STYLE="border-bottom: Black 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD STYLE="color: #C00000; font-weight: bold; border-bottom: Black 2pt double; text-align: right">1,187</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Capital expenditure</TD>
    <TD STYLE="background-color: rgb(242,242,242); color: #C00000; font-weight: bold; border-bottom: Black 2pt double; text-align: right">1,139</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-bottom: Black 2pt double; text-align: right">1,590</TD>
    <TD STYLE="color: #C00000; font-weight: bold; border-bottom: Black 2pt double; text-align: right">(28)</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In the first quarter of 2021, capital expenditure
amounted to &euro;1,139 million (&euro;1,590 million in the first quarter of 2020), decreasing by 28% from the same period of the previous
year, and mainly related to:</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">- development activities (&euro;801 million)
mainly in Indonesia, the United States, Egypt, the United Arab Emirates, Mexico and Iraq;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">- refining activity in Italy and outside Italy
(&euro;87 million) mainly relating to the activities to maintain plants&rsquo; integrity and stay-in-business, as well as HSE initiatives;
marketing activity (&euro;8 million) for regulation compliance and stay-in-business initiatives in the retail network in Italy and in
the rest of Europe;</P>

<P STYLE="font: 10pt/14pt Times New Roman, Times, Serif; margin: 0; text-align: justify">- initiatives relating to gas and power marketing
in the retail business (&euro;39 million).</P>

<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt/13pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 6pt 0 0">Exploration &amp; Production</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 6pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: middle">
    <TD COLSPAN="2" STYLE="font-weight: bold">PRODUCTION OF OIL AND NATURAL GAS BY REGION</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD COLSPAN="2" STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">IVQ&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; vertical-align: bottom; text-align: center">IQ&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right; width: 8%">2020</TD>
    <TD STYLE="padding-left: 18px; font-weight: bold; vertical-align: bottom; border-bottom: Black 1pt solid; text-align: left; width: 56%">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; vertical-align: bottom; border-bottom: Black 1pt solid; text-align: right; width: 20%">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); padding-right: 9px; font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right; width: 8%">2021</TD>
    <TD STYLE="padding-right: 9px; font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right; width: 8%">2020</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 9px; color: #C00000; font-weight: bold; text-align: right">&nbsp;1,713</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Production of oil and natural gas &#8317;&#7491;&#8318;&#8317;&#7495;&#8318;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; text-align: right">&nbsp;(kboe/d)&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); padding-right: 9px; color: #C00000; font-weight: bold; text-align: right">&nbsp;1,704</TD>
    <TD STYLE="padding-right: 9px; color: #C00000; font-weight: bold; text-align: right">&nbsp;1,790</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;103</TD>
    <TD STYLE="padding-left: 27px; text-align: left">Italy</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); padding-right: 9px; text-align: right">&nbsp;99</TD>
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;112</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;228</TD>
    <TD STYLE="padding-left: 27px; text-align: left">Rest of Europe</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); padding-right: 9px; text-align: right">&nbsp;238</TD>
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;256</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;264</TD>
    <TD STYLE="padding-left: 27px; text-align: left">North Africa</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); padding-right: 9px; text-align: right">&nbsp;272</TD>
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;252</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;304</TD>
    <TD STYLE="padding-left: 27px; text-align: left">Egypt</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); padding-right: 9px; text-align: right">&nbsp;355</TD>
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;303</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;347</TD>
    <TD STYLE="padding-left: 27px; text-align: left">Sub-Saharan Africa</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); padding-right: 9px; text-align: right">&nbsp;310</TD>
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;372</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;168</TD>
    <TD STYLE="padding-left: 27px; text-align: left">Kazakhstan</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); padding-right: 9px; text-align: right">&nbsp;153</TD>
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;174</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;167</TD>
    <TD STYLE="padding-left: 27px; text-align: left">Rest of Asia</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); padding-right: 9px; text-align: right">&nbsp;148</TD>
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;193</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;114</TD>
    <TD STYLE="padding-left: 27px; text-align: left">Americas</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); padding-right: 9px; text-align: right">&nbsp;112</TD>
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;110</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;18</TD>
    <TD STYLE="padding-left: 27px; text-align: left">Australia and Oceania</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); padding-right: 9px; text-align: right">&nbsp;17</TD>
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;18</TD></TR>
  <TR>
    <TD STYLE="padding-right: 9px; color: #C00000; font-weight: bold; vertical-align: bottom; border-bottom: Black 2pt double; text-align: right">&nbsp;144</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; vertical-align: middle; text-align: left">Production sold &#8317;&#7491;&#8318;&#8317;&#7580;&#8318;&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; vertical-align: middle; text-align: right">&nbsp;(mmboe)&nbsp;</TD>
    <TD STYLE="padding-right: 9px; background-color: rgb(242,242,242); color: #C00000; font-weight: bold; vertical-align: bottom; border-bottom: Black 2pt double; text-align: right">140</TD>
    <TD STYLE="padding-right: 9px; color: #C00000; font-weight: bold; vertical-align: bottom; border-bottom: Black 2pt double; text-align: right">145</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 27px; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD COLSPAN="2" STYLE="font-weight: bold">PRODUCTION OF LIQUIDS BY REGION</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD COLSPAN="2" STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">IVQ&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; vertical-align: bottom; text-align: center">IQ&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right">2020</TD>
    <TD STYLE="padding-left: 18px; font-weight: bold; vertical-align: bottom; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; vertical-align: bottom; border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); padding-right: 9px; font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right">2021</TD>
    <TD STYLE="padding-right: 9px; font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right">2020</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 9px; color: #C00000; font-weight: bold; text-align: right">&nbsp;809</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Production of liquids&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; text-align: right">(kbbl/d)</TD>
    <TD STYLE="background-color: rgb(242,242,242); padding-right: 9px; color: #C00000; font-weight: bold; text-align: right">&nbsp;814</TD>
    <TD STYLE="padding-right: 9px; color: #C00000; font-weight: bold; text-align: right">&nbsp;892</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;47</TD>
    <TD STYLE="padding-left: 27px; text-align: left">Italy</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); padding-right: 9px; text-align: right">&nbsp;45</TD>
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;49</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;134</TD>
    <TD STYLE="padding-left: 27px; text-align: left">Rest of Europe</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); padding-right: 9px; text-align: right">&nbsp;142</TD>
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;149</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;112</TD>
    <TD STYLE="padding-left: 27px; text-align: left">North Africa</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); padding-right: 9px; text-align: right">&nbsp;130</TD>
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;116</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;61</TD>
    <TD STYLE="padding-left: 27px; text-align: left">Egypt</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); padding-right: 9px; text-align: right">&nbsp;68</TD>
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;74</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;207</TD>
    <TD STYLE="padding-left: 27px; text-align: left">Sub-Saharan Africa</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); padding-right: 9px; text-align: right">&nbsp;192</TD>
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;232</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;111</TD>
    <TD STYLE="padding-left: 27px; text-align: left">Kazakhstan</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); padding-right: 9px; text-align: right">&nbsp;101</TD>
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;117</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;82</TD>
    <TD STYLE="padding-left: 27px; text-align: left">Rest of Asia</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); padding-right: 9px; text-align: right">&nbsp;78</TD>
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;94</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;55</TD>
    <TD STYLE="padding-left: 27px; text-align: left">Americas</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); padding-right: 9px; text-align: right">&nbsp;58</TD>
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;61</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 9px; border-bottom: Black 2pt double; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-left: 27px; text-align: left">Australia and Oceania</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); padding-right: 9px; border-bottom: Black 2pt double; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-right: 9px; border-bottom: Black 2pt double; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 18px; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD COLSPAN="2" STYLE="font-weight: bold">PRODUCTION OF NATURAL GAS BY REGION</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: middle">
    <TD COLSPAN="2" STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: bottom; text-align: right">IVQ&nbsp;</TD>
    <TD STYLE="vertical-align: middle">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; vertical-align: middle; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; vertical-align: bottom; text-align: center">IQ&nbsp;</TD></TR>
  <TR>
    <TD STYLE="font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right">2020</TD>
    <TD STYLE="padding-left: 18px; font-weight: bold; vertical-align: bottom; border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; vertical-align: bottom; border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); padding-right: 9px; font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right">2021</TD>
    <TD STYLE="padding-right: 9px; font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right">2020</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 9px; color: #C00000; font-weight: bold; text-align: right">&nbsp;4,800</TD>
    <TD STYLE="padding-left: 18px; color: #C00000; font-weight: bold; text-align: left">Production of natural gas</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; text-align: right">(mmcf/d)</TD>
    <TD STYLE="background-color: rgb(242,242,242); padding-right: 9px; color: #C00000; font-weight: bold; text-align: right">&nbsp;4,726</TD>
    <TD STYLE="padding-right: 9px; color: #C00000; font-weight: bold; text-align: right">&nbsp;4,768</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;298</TD>
    <TD STYLE="padding-left: 27px; text-align: left">Italy</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); padding-right: 9px; text-align: right">&nbsp;288</TD>
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;334</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;499</TD>
    <TD STYLE="padding-left: 27px; text-align: left">Rest of Europe</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); padding-right: 9px; text-align: right">&nbsp;515</TD>
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;567</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;808</TD>
    <TD STYLE="padding-left: 27px; text-align: left">North Africa</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); padding-right: 9px; text-align: right">&nbsp;753</TD>
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;723</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;1,290</TD>
    <TD STYLE="padding-left: 27px; text-align: left">Egypt</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); padding-right: 9px; text-align: right">&nbsp;1,521</TD>
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;1,217</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;741</TD>
    <TD STYLE="padding-left: 27px; text-align: left">Sub-Saharan Africa&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); padding-right: 9px; text-align: right">&nbsp;624</TD>
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;740</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;303</TD>
    <TD STYLE="padding-left: 27px; text-align: left">Kazakhstan</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); padding-right: 9px; text-align: right">&nbsp;274</TD>
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;304</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;451</TD>
    <TD STYLE="padding-left: 27px; text-align: left">Rest of Asia</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); padding-right: 9px; text-align: right">&nbsp;374</TD>
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;527</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;316</TD>
    <TD STYLE="padding-left: 27px; text-align: left">Americas</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); padding-right: 9px; text-align: right">&nbsp;287</TD>
    <TD STYLE="padding-right: 9px; text-align: right">&nbsp;263</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 9px; border-bottom: Black 2pt double; text-align: right">&nbsp;94</TD>
    <TD STYLE="padding-left: 27px; text-align: left">Australia and Oceania</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-right: 9px; text-align: right">&nbsp;</TD>
    <TD STYLE="background-color: rgb(242,242,242); padding-right: 9px; border-bottom: Black 2pt double; text-align: right">&nbsp;90</TD>
    <TD STYLE="padding-right: 9px; border-bottom: Black 2pt double; text-align: right">&nbsp;93</TD></TR>
  <TR STYLE="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD COLSPAN="3" STYLE="font: 8pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
    <TD COLSPAN="3" STYLE="font: 8pt Times New Roman, Times, Serif; text-align: justify">(a) Includes Eni&rsquo;s share of production of equity-accounted entities.</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 8pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="font: 8pt Times New Roman, Times, Serif; vertical-align: top">
    <TD COLSPAN="5" STYLE="font: 8pt Times New Roman, Times, Serif; text-align: justify">(b) Includes volumes of hydrocarbons consumed in operation (113 and 125 kboe/d in the first quarter&nbsp;of 2021 and 2020, respectively and&nbsp;126 kboe/d in the fourth quarter of 2020).</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 6pt; text-align: justify"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-bottom: 0; margin-left: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><IMG SRC="image_001.jpg" ALT="" STYLE="height: 97px; width: 87px"></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-bottom: 0; margin-left: 0"><B>&nbsp;</B></P>

<P STYLE="font: 14pt/1.5 Times New Roman, Times, Serif; margin: 0; text-align: center"><B><A NAME="a_002"></A>Eni&rsquo;s Board of Directors approves launch of
strategic project<BR>
 to list or sell a minority stake in new business unit formed by<BR>
 Eni gas e luce and renewables</B></P>

<P STYLE="font: 10pt/1.5 Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/1.5 Times New Roman, Times, Serif; margin: 0 0 3pt; text-align: justify"><I>San Donato Milanese (Milan), 30 April 2021 </I>-&nbsp;The
Board of Eni, chaired yesterday by Lucia Calvosa, has approved the launch of a strategic project to define and evaluate the industrial
and financial plans of the new corporate entity that will result from the union between the retail and renewable energy activities.</P>

<P STYLE="font: 10pt/1.5 Times New Roman, Times, Serif; margin: 0 0 3pt; text-align: justify">The study also envisages the evaluation of multiple
options to extrapolate the maximum value from this new entity during the course of 2022, subject to market conditions. Options under consideration
include a stock exchange listing through an initial public offering (IPO), or the sale or exchange of a minority stake in the new entity.</P>

<P STYLE="font: 10pt/1.5 Times New Roman, Times, Serif; margin: 0 0 3pt; text-align: justify">Today, Eni can count on about 10 million customers,
which are an important source of value for the company. The merger of the retail and the renewables businesses, whose development plan
envisages a significant growth in installed capacity, will foster value generation, broadening the direct offer of services, infrastructure
and green energy to customers.</P>

<P STYLE="font: 10pt/1.5 Times New Roman, Times, Serif; margin: 0 0 3pt; text-align: justify">The objective of the new company will be to develop
renewable generation capacity in excess of 5 gigawatts by 2025. This capacity will be offered to the company&rsquo;s growing customer
base, which is expected to include over 11 million customers by that time, with an overall EBITDA expected to grow from 600 million euros
in 2021 to over 1 billion euros in 2025.</P>

<P STYLE="font: 10pt/1.5 Times New Roman, Times, Serif; margin: 0 0 3pt; text-align: justify">The project, for which Eni has formed an internal
team supported by strategic and financial advisors, is part of the Company&rsquo;s wider commitment to delivering value through the energy
transition. It will contribute to reaching scope 3 emission reduction targets, which are a key part of the broader strategy that will
turn Eni into a carbon neutral company by 2050.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>Company contacts:</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Press Office:</B> Tel. +39.0252031875 &ndash; +39.0659822030</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Freephone for stockholders (from Italy): </B>800940924<BR>
<B>Freephone for stockholders (from abroad): </B>+ 80011223456</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Switchboard: +39.0659821</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="color: Blue; font: 10pt Times New Roman, Times, Serif; margin: 0; text-decoration: underline">ufficio.stampa@eni.com</P>

<P STYLE="color: Blue; font: 10pt Times New Roman, Times, Serif; margin: 0; text-decoration: underline">segreteriasocietaria.azionisti@eni.com</P>

<P STYLE="color: Blue; font: 10pt Times New Roman, Times, Serif; margin: 0; text-decoration: underline">investor.relations@eni.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Website: </B><FONT STYLE="color: Blue"><U>www.eni.com</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><IMG SRC="image_002.jpg" ALT="" STYLE="height: 19px; width: 81px"></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

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