<SEC-DOCUMENT>0001104659-22-036336.txt : 20220322
<SEC-HEADER>0001104659-22-036336.hdr.sgml : 20220322
<ACCEPTANCE-DATETIME>20220322082058
ACCESSION NUMBER:		0001104659-22-036336
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20220318
FILED AS OF DATE:		20220322
DATE AS OF CHANGE:		20220322

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:		22757229

	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>tm229742d1_6k.htm
<DESCRIPTION>FORM 6-K
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<P STYLE="margin: 0"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>SECURITIES AND
EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt; font-variant: small-caps">Washington,
D.C. 20549</FONT></P>

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

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

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>Report
of Foreign Issuer</B></FONT></P>

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

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">the Securities Exchange
Act of 1934</FONT></P>

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

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">For the month of
March&nbsp;2022</FONT></P>

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

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>Eni S.p.A.</B></FONT></P>

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">(Exact name of Registrant
as specified in its charter)</FONT></P>

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

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Piazzale Enrico
Mattei 1 -- 00144 Rome,&nbsp;Italy</B></FONT></P>

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">(Address of principal
executive offices)</FONT></P>

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<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(Indicate
by check mark whether the registrant files or will file annual reports under cover of Form&nbsp;20-F or Form&nbsp;40-F.)</FONT></P>

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

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">Form&nbsp;20-F <FONT STYLE="font-family: Wingdings">&#120;
</FONT>Form&nbsp;40-F</FONT></P>

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



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

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

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(Indicate
by check mark whether the registrant by furnishing the information contained in this Form&nbsp;is also thereby furnishing the information
to the Commission pursuant to Rule&nbsp;12g3-2b under the Securities Exchange Act of 1934.)</FONT></P>

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

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">Yes&nbsp;<FONT STYLE="font-family: Wingdings">&#168;
</FONT>No <FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></P>

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

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">(If
 &quot;Yes&quot; is marked, indicate below the file number assigned to the registrant in connection with Rule&nbsp;12g3-2(b): ___)</FONT></P>

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

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

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>Table
of contents</B></FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 13pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><A HREF="#a_001"><FONT STYLE="font-size: 10pt"><B>Eni: 2021 Consolidated Financial Statements and Draft Financial Statements of the Parent Company.</B></FONT></A></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 13pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B><A HREF="#a_002">ENI CAPITAL MARKETS DAY - Strategic plan 2022-2025.</A></B></FONT></TD></TR></TABLE>

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

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

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

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>SIGNATURES</B></FONT></P>

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

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">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.</FONT></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">Eni S.p.A.</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 10pt">/s/ Paola Mariani</TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt; width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 7%"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="padding-left: 0in; font-size: 10pt; width: 43%"><FONT STYLE="font-size: 10pt">Paola Mariani</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Head of Corporate</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Secretary&#8217;s Staff Office</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: March&nbsp;18, 2022</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><IMG SRC="tm229742d1_6kimg001.jpg" ALT="">&nbsp;</P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"><B><I><A NAME="a_001"></A></I></B></FONT><B><FONT STYLE="font-size: 18pt">Eni:
2021 Consolidated Financial Statements</FONT></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 18pt"><B>and
Draft Financial Statements of the Parent Company</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: -3.95pt">&nbsp;</P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Convening of the Annual
Shareholders&rsquo; Meeting</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.3pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Consolidated
                                            and separate financial statements</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.3pt; text-indent: -21.3pt"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 21.25pt"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>2021
                                            Dividend proposal (as previously announced): &euro;0.86 per share, of which &euro;0.43 paid
                                            as interim dividend in September 2021</B></FONT></TD></TR></TABLE>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">San
Donato Milanese (Milan), March 17, 2022 &ndash; Today, the Board of Directors, chaired by Lucia Calvosa, approved Eni&rsquo;s consolidated
financial statements and the separate draft financial statements of the parent company for the year ending December 31, 2021. Consolidated
net profit amounted to &euro;5,821 million and net profit of the parent company amounted to &euro;7,675 million.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
Group consolidated result has been updated to factor in certain minor adjustments that occurred subsequently to the release of the Group
2021 preliminary results on February 18, 2022. Those adjustments are due to the finalization of the Group industrial and strategic plans
and to the estimation of Eni&rsquo;s share of the fourth quarter result of the JV Saipem&rsquo;s following the postponement of the approval
of the investee's financial statements. As a result, consolidated net profit redetermines to &euro;5,821 million vs. &euro;6,128 million
reported in the preliminary results.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
Board of Directors intends to submit a proposal for the distribution of a cash dividend of &euro;0.86 per share at the Annual Shareholders&rsquo;
Meeting. Included in this annual distribution is the &euro;0.43 per share interim dividend, that was paid in September 2021. The final
dividend of &euro;0.43<SUP>1</SUP> per share will be payable on May 25, 2022 with May 23, 2022 being the ex-dividend date.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">In
addition, the Board of Directors also approved the consolidated financial statements prepared in accordance with the new European provisions
on the standardization of financial languages (ESEF &ndash; European Single Electronic Format regulation) providing for the adoption
of the &quot;inline XBRL&quot; standard and the labelling of the consolidated financial statements as defined by the IFRS taxonomy adopted
by ESMA.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">An
Annual Report on Form 20-F will be filed with the U.S. SEC and Italian market authorities by the first ten days of April 2022. This report
will be disseminated via the Company&rsquo;s headquarters, and on Eni's website (eni.com) and through other sources provided by the current
regulation. Enclosed are the 2021 IFRS consolidated statements and those of the parent company Eni SpA.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
2021 Annual Report (Italian version), in accordance with Article 154-ter of the TUF, has been made available to the Board of Statutory
Auditors and the Independent Auditors. The Report will be made available to the public within the first ten days of April 2022, at the
registered office, on the company's website, eni.com and in the other manner provided for by current legislation together with the reports
of the Board of Statutory Auditors and the Independent Auditors. Attached are the IFRS consolidated financial statements of Eni Group
and the parent company Eni SpA.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><SUP>1
</SUP>Dividends, depending on the receiver, are subject to a withholding tax on distribution or are partially cumulated to the receiver&rsquo;s
taxable income.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
Board of Directors also approved the &ldquo;Consolidated report on non-financial information&rdquo; included in the management discussion
of the 2021 Annual Report. This report, prepared in conformity with the Italian Legislative Decree No. 254/2016, discloses Eni group&rsquo;s
activities, the performances achieved and the outcomes in environmental, reduction of carbon footprint, social, employees matters, respect
for human rights, as well as anti-corruption and bribery matters.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
Board of Directors also approved the Report on Corporate Governance and Shareholding Structure and the Remuneration Report prepared according
to article No. 123-bis and 123-ter of the Italian comprehensive code for exchanges and securities, respectively. These reports will be
made available at the Company's headquarters and published on Eni&rsquo;s website, in the &ldquo;Publications&rdquo; section and in accordance
with current regulation, together with the 2021 Annual Report on Form 20-F.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
Board of Directors also convened the Annual Shareholders' Meeting on May 11, 2022 (single call). The meeting is set to approve the 2021
financial statements of the parent company and the allocation of net profit.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">*
* *</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><I>Francesco
Esposito, in his position as Eni&rsquo;s manager responsible for the preparation of the Company&rsquo;s financial reports, certifies
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></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">*
* *</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Company
Contacts</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Press
Office: </B>Tel. +39.0252031875 &ndash; +39.0659822030</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Freephone
for shareholders (from Italy): </B>800940924</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Freephone
for shareholders (from abroad): </B>+80011223456</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Switchboard:
</B>+39-0659821</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>ufficio.stampa@eni.com</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>segreteriasocietaria.azionisti@eni.com</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>investor.relations@eni.com</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Web
site: www.eni.com</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">*
* *</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Eni</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Societ&agrave;
per Azioni Roma, Piazzale Enrico Mattei, 1</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Share
capital: &euro;4,005,358,876 fully paid</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Tax
identification number 00484960588</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Tel.:
+39 0659821 - Fax: +39 0659822141</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">This
press release is also available on the Eni web site eni.com.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 5; Value: 1 -->
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Attachments</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 18pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">IFRS
Consolidated Financial Statements</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 13pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>PROFIT
AND LOSS ACCOUNT</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; vertical-align: middle; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Full
    Year&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; width: 78%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(&euro;
    million)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: black 1pt solid; font-weight: bold; vertical-align: middle; background-color: rgb(242,242,242); text-align: right; width: 11%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2021</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: black 1pt solid; font-weight: bold; vertical-align: middle; text-align: right; width: 11%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2020</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Sales
    from operations&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: rgb(242,242,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">76,575</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">43,987</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Other
    income and revenues&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: rgb(242,242,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,196</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">960</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; padding-left: 0.25in; font-weight: bold; vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Total
    revenues</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; font-weight: bold; vertical-align: middle; text-align: right; background-color: rgb(242,242,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">77,771</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; font-weight: bold; vertical-align: middle; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">44,947</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Purchases,
    services and other</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: rgb(242,242,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(55,549)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(33,551)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Impairment
    reversals (impairment losses) of trade and other receivables, net</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: rgb(242,242,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(279)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(226)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Payroll
    and related costs</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: rgb(242,242,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(2,888)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(2,863)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Other
    operating (expense) income</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; vertical-align: middle; text-align: right; background-color: rgb(242,242,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">903</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; vertical-align: middle; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(766)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Depreciation,
    Depletion and Amortization</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; text-align: right; background-color: rgb(242,242,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(7,063)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(7,304)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Impairment
    reversals (impairment losses) of tangible, intangible and right of use assets, net</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; vertical-align: middle; text-align: right; background-color: rgb(242,242,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(167)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; vertical-align: middle; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(3,183)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Write-off
    of tangible and intangible assets</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; text-align: right; background-color: rgb(242,242,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(387)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(329)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">OPERATING
    PROFIT (LOSS)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; font-weight: bold; vertical-align: middle; text-align: right; background-color: rgb(242,242,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">12,341</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; font-weight: bold; vertical-align: middle; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(3,275)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Finance
    income</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: rgb(242,242,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">3,723</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">3,531</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Finance
    expense</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: rgb(242,242,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(4,216)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(4,958)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Net
    finance income (expense) from financial assets held for trading</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: rgb(242,242,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">11</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">31</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Derivative
    financial instruments</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: rgb(242,242,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(306)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">351</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">FINANCE
    INCOME (EXPENSE)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; font-weight: bold; text-align: right; background-color: rgb(242,242,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(788)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(1,045)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Share
    of profit (loss) of equity-accounted investments&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: rgb(242,242,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(1,091)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(1,733)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Other
    gain (loss) from investments</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: rgb(242,242,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">223</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">75</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">INCOME
    (EXPENSE) FROM INVESTMENTS</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; font-weight: bold; text-align: right; background-color: rgb(242,242,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(868)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(1,658)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">PROFIT
    (LOSS) BEFORE INCOME TAXES&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; vertical-align: middle; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: rgb(242,242,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">10,685</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; vertical-align: middle; text-align: right; border-top-color: Black; border-top-width: 0.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(5,978)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; padding-left: 0.25in; vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Income
    taxes&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; vertical-align: middle; text-align: right; background-color: rgb(242,242,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(4,845)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; vertical-align: middle; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(2,650)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Net
    profit (loss)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; vertical-align: middle; text-align: right; background-color: rgb(242,242,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">5,840</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; vertical-align: middle; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(8,628)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">attributable
    to:</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; vertical-align: top; text-align: right; background-color: rgb(242,242,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; vertical-align: middle; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;-
    Eni's shareholders</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: right; background-color: rgb(242,242,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">5,821</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(8,635)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;-
    Non-controlling interest</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: right; background-color: rgb(242,242,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">19</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">7</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; font-weight: bold; vertical-align: top; text-align: right; background-color: rgb(242,242,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; font-weight: bold; vertical-align: top; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Earnings
    per share (&euro; per share)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; vertical-align: middle; background-color: rgb(242,242,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; vertical-align: middle"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-
    basic</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: rgb(242,242,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1.61</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(2.42)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-
    diluted</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; text-align: right; background-color: rgb(242,242,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1.60</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(2.42)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Weighted
    average number of shares outstanding (million)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; vertical-align: middle; background-color: rgb(242,242,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; vertical-align: middle"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-
    basic</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: rgb(242,242,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">3,566.0</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">3,572.5</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-
    diluted</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 2.5pt double; text-align: right; background-color: rgb(242,242,242)"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">3,573.6</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">3,572.5</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 6; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 13pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>BALANCE
SHEET</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 78%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(&euro;
    million)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle; text-align: center; width: 11%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 11%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="padding-bottom: 1pt; font-family: Arial, Helvetica, Sans-Serif; border-top: Black 0.5pt solid; padding-left: 0.25in; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(242,242,242); border-top: Black 0.5pt solid; border-bottom: Black 1pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; vertical-align: middle; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Dec.
    31, 2021</FONT></TD>
    <TD STYLE="border-top: Black 0.5pt solid; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; vertical-align: middle; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Dec.
    31, 2020</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">ASSETS</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Current
    assets</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Cash
    and cash equivalents&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">8,254</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">9,413</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Other
    financial activities held for trading</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">6,301</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">5,502</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Other
    financial assets</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4,308</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">254</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Trade
    and other receivables&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">18,850</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">10,926</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Inventories&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">6,072</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">3,893</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Income
    tax assets</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">195</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">184</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Other
    assets&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">13,634</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2,686</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; border-top: Black 0.5pt solid; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">57,614</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; border-top: Black 0.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">32,858</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Non-current
    assets</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Property,
    plant and equipment&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">56,299</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">53,943</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Right
    of use assets</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4,821</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4,643</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Intangible
    assets&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4,799</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2,936</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Inventory
    - compulsory stock&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,053</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">995</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Equity-accounted
    investments&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">5,887</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">6,749</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Other
    investments&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,294</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">957</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Other
    financial assets</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,885</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,008</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Deferred
    tax assets&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2,713</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4,109</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Income
    tax assets</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">108</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">153</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; vertical-align: middle; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Other
    assets</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,029</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,253</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; border-top: Black 0.5pt solid; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">79,888</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; border-top: Black 0.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">76,746</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Assets
    held for sale</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; font-weight: bold; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">263</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">44</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">TOTAL
    ASSETS</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">137,765</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">109,648</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">LIABILITIES
    AND SHAREHOLDERS' EQUITY</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Current
    liabilities</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Short-term
    debt</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2,299</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2,882</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Current
    portion of long-term debt</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,781</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,909</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Current
    portion of long-term lease liabilities</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">948</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">849</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Trade
    and other payables</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">21,720</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">12,936</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Income
    taxes payable</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">648</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">243</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Other
    liabilities</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">15,756</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4,872</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; border-top: Black 0.5pt solid; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">43,152</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; border-top: Black 0.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">23,691</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Non-current
    liabilities</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Long-term
    debt&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">23,714</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">21,895</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Long-term
    lease liabilities</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4,389</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4,169</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Provisions
    for contingencies&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">13,593</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">13,438</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Provisions
    for employee benefits&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">819</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,201</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Deferred
    tax liabilities</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4,835</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">5,524</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Income
    taxes payable</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">374</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">360</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Other
    liabilities&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 0.5pt solid; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2,246</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,877</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">49,970</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">48,464</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Liabilities
    directly associated with assets held for sale</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; font-weight: bold; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">124</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; font-weight: bold; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">TOTAL
    LIABILITIES</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">93,246</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">72,155</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Share
    capital&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4,005</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4,005</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Retained
    earnings</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">22,750</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">34,043</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Cumulative
    currency translation differences</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">6,530</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">3,895</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Other
    reserves and equity instruments</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">6,289</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4,688</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Treasury
    shares&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(958)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(581)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Net
    profit&nbsp;&nbsp;(loss)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">5,821</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(8,635)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Total
    Eni shareholders' equity</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; border-top: Black 0.5pt solid; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">44,437</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; border-top: Black 0.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">37,415</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Non-controlling
    interest&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">82</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">78</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">TOTAL
    SHAREHOLDERS' EQUITY&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">44,519</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">37,493</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 2.5pt double; font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">TOTAL
    LIABILITIES AND SHAREHOLDERS' EQUITY</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">137,765</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">109,648</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 7; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 13pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>CASH
FLOW STATEMENT</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Full
    Year&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; width: 78%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(&euro;
    million)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right; width: 11%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2021</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right; width: 11%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2020</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Net
    profit (loss)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); font-weight: bold; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">5,840</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(8,628)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-style: italic; vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Adjustments
    to reconcile net profit (loss) to net cash provided by operating activities:</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); vertical-align: middle; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Depreciation,
    depletion and amortization&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">7,063</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">7,304</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Impairment
losses (impairment reversals) of tangible, intangible and right of use, net</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">167</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">3,183</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Write-off
    of tangible and intangible assets</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">387</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">329</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Share
    of (profit) loss of equity-accounted investments&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,091</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,733</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Gains
    on disposal of assets, net&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(102)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(9)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Dividend
    income&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(230)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(150)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Interest
    income&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(75)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(126)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Interest
    expense</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">794</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">877</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Income
    taxes&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4,845</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2,650</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Other
    changes</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(194)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">92</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Cash
    flow from changes in working capital</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(3,146)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(18)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-style: italic; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-
    inventories</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(2,033)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,054</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-style: italic; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-
    trade receivables</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(7,888)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,316</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-style: italic; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-
    trade payables</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">7,744</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(1,614)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-style: italic; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-
    provisions for contingencies</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(406)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(1,056)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-style: italic; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-
    other assets and liabilities</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(563)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">282</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Net
    change in the provisions for employee benefits</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">54</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Dividends
    received</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">857</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">509</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Interest
    received</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">28</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">53</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Interest
    paid</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(792)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(928)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Income
    taxes paid, net of tax receivables received</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(3,726)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(2,049)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Net
    cash provided by operating activities&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); font-weight: bold; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">12,861</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4,822</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Cash
    flow from investing activities&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(7,815)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(5,959)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-style: italic; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-
    tangible assets</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(4,950)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(4,407)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-style: italic; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-
    prepaid right of use</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(2)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-style: italic; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-
    intangible assets</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(284)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(237)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-style: italic; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-
    consolidated subsidiaries and businesses net of cash and cash equivalent acquired</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(1,901)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(109)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-style: italic; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-
    investments</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(837)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(283)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-style: italic; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-
    securities and financing receivables held for operating purposes&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(227)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(166)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-style: italic; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-
    change in payables in relation to investing activities&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">386</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(757)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Cash
    flow from disposals</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">536</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">216</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-style: italic; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-
    tangible assets</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">207</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">12</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-style: italic; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-
    intangible assets</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-style: italic; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-
    consolidated subsidiaries and businesses net of cash and cash equivalent disposed of</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">76</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-style: italic; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-
    tax on disposals</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(35)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-style: italic; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-
    investments</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">155</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">16</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-style: italic; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-
    securities and financing receivables held for operating purposes&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">141</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">136</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-style: italic; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-
    change in receivables in relation to disposals</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(9)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">52</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Net
    change in receivables and securities not held for operating purposes</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(4,743)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,156</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Net
    cash used in investing activities</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 2.5pt double; background-color: rgb(242,242,242); font-weight: bold; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(12,022)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(4,587)</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 8; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 13pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>(continued)
CASH FLOW STATEMENT</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Full
    Year&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; width: 78%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(&euro;
    million)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right; width: 11%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2021</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right; width: 11%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2020</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Increase
    in long-term debt&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">3,556</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">5,278</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Payment
    of long-term debt</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(2,890)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(3,100)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Payment
    of lease liabilities</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(939)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(869)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Increase
    (decrease) in short-term financial debt</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(910)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">937</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Dividends
    paid to Eni's shareholders</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(2,358)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(1,965)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Dividends
    paid to non-controlling interests</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(5)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(3)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Acquisition
    of additional interests in consolidated subsidiaries</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(17)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Net
    purchase of treasury shares</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(400)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Issue
    of perpetual subordinated bonds</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,985</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2,975</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Coupon
    of perpetual subordinated bonds</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(61)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Net
    cash used in financing activities</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); font-weight: bold; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(2,039)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">3,253</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Effect
    of exchange rate changes on cash and cash equivalents and other changes</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">52</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(69)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Net
    increase (decrease) in cash and cash equivalents</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); font-weight: bold; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(1,148)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">3,419</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Cash
    and cash equivalents - beginning of the year</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; background-color: rgb(242,242,242); font-weight: bold; vertical-align: middle; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">9,413</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; vertical-align: middle; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">5,994</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 2.5pt; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Cash
    and cash equivalents - end of the year</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 2.5pt double; background-color: rgb(242,242,242); font-weight: bold; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">8,265</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">9,413</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 9; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">IFRS
Financial Statements of the parent company</FONT></P>

<P STYLE="font: 13pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 13pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>PROFIT
AND LOSS ACCOUNT</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; vertical-align: middle; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Full
    Year&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; width: 78%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(&euro;
    million)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; background-color: #F2F2F2; text-align: right; width: 11%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2021</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right; width: 11%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2020</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Net
    sales from operations&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">38,249</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">18,017</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Other
    income and revenues&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">474</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">405</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; padding-left: 0.25in; font-weight: bold; vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Total
    revenues</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; font-weight: bold; vertical-align: middle; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">38,723</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; font-weight: bold; vertical-align: middle; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">18,422</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Purchases,
    services and other</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(33,127)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(18,397)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Impairment
    reversals (impairment losses) of trade and other receivables, net</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(77)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(10)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Payroll
    and related costs</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(1,286)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(1,238)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Other
    operating (expense) income</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(2,278)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(176)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Depreciation,
    Depletion and Amortization</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(930)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(1,013)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Impairment
    reversals (impairment losses) of tangible, intangible and right of use, net</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(455)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(1,573)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Write-off
    of tangible and intangible assets</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 0.5pt solid; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(1)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; padding-left: 0.25in; font-weight: bold; vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">OPERATING
    PROFIT (LOSS)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; font-weight: bold; vertical-align: middle; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">569</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; font-weight: bold; vertical-align: middle; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(3,985)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Finance
    income</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2,049</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2,213</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Finance
    expense</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(2,066)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(2,749)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Net
    finance income (expense) from financial assets held for trading</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">11</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">26</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Derivative
    financial instruments</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(201)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">211</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">FINANCE
    INCOME (EXPENSE)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(207)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(299)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">INCOME
    (EXPENSE) FROM INVESTMENTS</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; vertical-align: middle; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">6,918</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; vertical-align: middle; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">6,519</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 1pt; padding-left: 0.25in; font-weight: bold; vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">PROFIT
    (LOSS) BEFORE INCOME TAXES&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; font-weight: bold; vertical-align: middle; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">7,280</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; font-weight: bold; vertical-align: middle; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2,235</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Income
    taxes&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">395</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(628)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 2.5pt; padding-left: 0.25in; font-weight: bold; vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">NET
    PROFIT (LOSS)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 2.5pt double; font-weight: bold; vertical-align: middle; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">7,675</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 2.5pt double; font-weight: bold; vertical-align: middle; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,607</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 10; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 13pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>BALANCE
SHEET</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 78%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(&euro;
    million)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle; text-align: center; width: 11%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: left; width: 11%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; vertical-align: bottom; border-top: Black 0.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="background-color: rgb(242,242,242); font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Dec.
    31, 2021</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; vertical-align: middle; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Dec.
    31, 2020</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">ASSETS</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Current
    assets</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Cash
    and cash equivalents&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">6,630</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">8,111</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Other
    financial activities held for trading</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">5,855</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">5,020</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Other
    financial assets</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4,214</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4,822</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Trade
    and other receivables&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">12,992</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">3,756</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Inventories&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2,582</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,099</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Tax
    assets</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">23</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">22</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Other
    assets&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">12,851</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,322</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; border-top: Black 0.5pt solid; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">45,147</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; border-top: Black 0.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">24,152</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Non-current
    assets</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Property,
    plant and equipment&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">5,213</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">6,569</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Right
    of use</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,691</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,888</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Intangible
    assets&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">247</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">101</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Inventory
    - compulsory stock&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,104</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">994</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Investments&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">56,010</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">46,855</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Other
    financial assets</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">3,257</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4,355</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Deferred
    tax assets&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">814</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">113</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Tax
    assets</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">78</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">78</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; vertical-align: middle; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Other
    assets</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2,057</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">909</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; border-top: Black 0.5pt solid; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">70,471</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; border-top: Black 0.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">61,862</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Assets
    held for sale</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">3</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">TOTAL
    ASSETS</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right; border-top-color: Black; border-top-width: 0.5pt; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">115,621</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">86,016</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">LIABILITIES
    AND SHAREHOLDERS' EQUITY</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Current
    liabilities</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Short-term
    debt</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">5,866</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">3,929</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Current
    portion of long-term debt</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,555</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,848</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Current
    portion of long-term lease liabilities</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">383</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">423</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Trade
    and other payables</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">9,521</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4,153</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Income
    taxes payable</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">117</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Other
    liabilities</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">16,305</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2,615</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; border-top: Black 0.5pt solid; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">33,747</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; border-top: Black 0.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">12,972</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Non-current
    liabilities</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Long-term
    debt&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">20,619</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">20,066</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Long-term
    lease liabilities</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,939</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2,157</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Provisions
    for contingencies&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4,992</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4,890</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Provisions
    for employee benefits&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">393</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">376</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Income
    taxes payable</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">9</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Other
    liabilities&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 0.5pt solid; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2,892</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 0.5pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">839</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">30,835</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">28,337</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">TOTAL
    LIABILITIES</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">64,582</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">41,309</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Share
    capital&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4,005</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4,005</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Legal
    reserve</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">959</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">959</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Other
    reserves and equity instruments</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">39,358</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">38,717</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Treasury
    shares&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(958)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(581)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Net
    profit&nbsp;&nbsp;(loss)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">7,675</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,607</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">TOTAL
    SHAREHOLDERS' EQUITY&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">51,039</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">44,707</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-bottom: 2.5pt; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">TOTAL
    LIABILITIES AND SHAREHOLDERS' EQUITY</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 2.5pt double; font-weight: bold; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">115,621</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">86,016</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 11; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 13pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>CASH
FLOW STATEMENT</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Full
    Year&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; width: 78%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(&euro;
    million)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right; background-color: #F2F2F2; width: 11%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2021</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right; width: 11%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2020</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Net
    profit (loss)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">7,675</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,607</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-style: italic; vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Adjustments
    to reconcile net profit (loss) to net cash provided by operating activities:</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Depreciation,
    depletion and amortization&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">930</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,013</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Impairment
    losses (impairment reversals) of tangible, intangible and right of use, net</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">455</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,573</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Write-off
    of tangible and intangible assets</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Share
    of (profit) loss of investments&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(894)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2,395</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Gains
    on disposal of assets, net&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(23)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(7)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Dividend
    income&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(6,006)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(8,914)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Interest
    income&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(176)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(204)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Interest
    expense</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">520</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">550</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Income
    taxes&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(395)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">628</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Other
    changes</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(63)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">3</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Cash
    flow from changes in working capital</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(401)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,185</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-style: italic; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-
    inventories</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(1,602)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">966</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-style: italic; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-
    trade receivables</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(6,097)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,033</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-style: italic; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-
    trade payables</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">5,468</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(1,236)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-style: italic; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-
    provisions for contingencies</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(170)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">113</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-style: italic; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-
    other assets and liabilities</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2,000</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">309</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Net
    change in the provisions for employee benefits</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">63</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">5</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Dividends
    received</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2,893</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">8,853</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Interest
    received</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">179</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">210</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Interest
    paid</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(517)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(533)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Income
    taxes paid, net of tax receivables received</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">33</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">62</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Net
    cash provided by operating activities&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4,274</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">8,426</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Cash
    flow from investing activities&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(9,361)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(8,045)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-style: italic; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-
    tangible assets</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(848)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(791)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-style: italic; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-
    intangible assets</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(188)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(21)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-style: italic; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-
    investments</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(8,145)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(6,752)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-style: italic; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-
    financing receivables held for operating purposes</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(293)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(404)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-style: italic; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-
    change in payables in relation to investing activities&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">113</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(77)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Cash
    flow from disposals</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2,063</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">208</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-style: italic; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-
    tangible assets</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">5</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">9</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-style: italic; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-
    investments</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">479</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-style: italic; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-
    financing receivables held for operating purposes</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,579</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">193</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-style: italic; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-
    change in receivables in relation to disposals</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-style: italic; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Net
    change in receivables and securities not held for operating purposes</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(110)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">778</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="border-bottom: Black 2.5pt double; font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Net
    cash used in investing activities</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(7,408)</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(7,059)</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 12; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence -->-</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 13pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>(continued)
CASH FLOW STATEMENT</B></FONT></P>



<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Full
    Year&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center; width: 78%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(&euro;
    million)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; background-color: #F2F2F2; text-align: right; width: 11%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2021</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; vertical-align: middle; border-bottom: black 1pt solid; text-align: right; width: 11%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2020</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Increase
    (Reypaments) in long-term debt&nbsp;</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">955</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2,020</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Repayment
    of lease liabilities</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(374)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(337)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Increase
    (decrease) in short-term financial debt</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,933</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(699)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Dividends
    paid</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(2,358)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(1,965)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Net
    purchase of treasury shares</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(400)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Issue
    of perpetual subordinated bonds</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,985</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">2,975</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Coupon
    of perpetual subordinated bonds</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(61)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: middle">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Net
    cash used in financing activities</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,680</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">1,994</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Effect
    of exchange rate changes on cash and cash equivalents and other changes</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(27)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(2)</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Net
    increase (decrease) in cash and cash equivalent</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(1,481)</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">3,359</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Cash
    and cash equivalents - beginning of the year</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; vertical-align: middle; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">8,111</FONT></TD>
    <TD STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; vertical-align: middle; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">4,752</FONT></TD></TR>
  <TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 2.5pt double; font-family: Arial, Helvetica, Sans-Serif; padding-left: 0.25in; font-weight: bold; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Cash
    and cash equivalents - end of the year</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right; background-color: #F2F2F2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">6,630</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-family: Arial, Helvetica, Sans-Serif; font-weight: bold; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">8,111</FONT></TD></TR>
  </TABLE>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: Red"><IMG SRC="tm229742d1_6kimg001.jpg" ALT=""></P>

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

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B><A NAME="a_002"></A>ENI CAPITAL MARKETS
DAY</B></FONT></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 14pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Strategic plan
2022-2025</B></FONT></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">-</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Focused
                                            on delivering energy security and emissions reduction for customers through a distinctive
                                            approach: proprietary technologies, new business models, stakeholder alliances</B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">-</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Securing
                                            supply to premium markets through global gas portfolio</B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">-</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Enhanced
                                            path towards net zero, including a 35% reduction by 2030, 80% by 2040 of Net Absolute Scope
                                            1+2+3 emissions vs 2018</B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">-</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>30%
                                            of investment in new energies by 2025, 60% by 2030</B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">-</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Creating
                                            a sustainable mobility business combining biofuels and fuel stations</B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">-</TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Strong
                                            CFFO of &euro;14 billion underpins an enhanced remuneration policy in 2022: with an annual
                                            total dividend raised to &euro;0.88 per share, a &euro;1.1 billion buyback and buyback upside
                                            for scenarios over 90 $/bbl.</B></FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&ldquo;<I>The war in Ukraine is forcing us to
reconsider the world as we know it. It is a humanitarian tragedy and has created new threats to energy security which we must meet without
abandoning our ambitions for a just transition.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><I>Our strategy has made us well prepared to address
these challenges. Our immediate response to the current crisis has been to leverage our established alliances with producing countries
to find replacement energy sources for Europe&rsquo;s energy needs. We can make available to the market more than 14 TCF of additional
gas resources for the short to medium term.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><I>This complements our work to develop new decarbonised
products and services which can help deliver both energy security and carbon reduction by providing to our customers a full set of decarbonized
energy products and services. The result of this strategic approach underpins our decision to accelerate our pathway to net zero with
a 35% cut to scope 1+2+3 emissions by 2030, and 80% by 2040 compared to 2018.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><I>To fast track our transition and serve our
customers better, we have created a series of dedicated satellite companies that draw on our proprietary technology, lean operational
model and strong stakeholder alliances. The creation of Plenitude, V&aring;r Energi, Azule (our JV with BP in Angola) and the recent listing
of Energy One (London&rsquo;s first SPAC focused on the energy transition) illustrates how we are seeking to draw new investment into
Eni and strike the right balance in cash allocation and returns.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><I>We are now merging our biorefining, fuel stations
and ride sharing businesses into a dedicated, focused on sustainable mobility entity consistent with this strategy.</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><I>Our industrial plan, supported by the continued
strengthening of our financial position, through efficient capital management and portfolio optimization, allows us today to further enhance
our competitive shareholder distribution</I>&rdquo;.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right">Claudio Descalzi, Eni CEO</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><I>San Donato Milanese (Milan), 18 March&nbsp;2022
 &ndash;</I> Claudio Descalzi, Chief Executive Officer of Eni, today presented the company&rsquo;s Strategic Plan for 2022-2025.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Eni&rsquo;s strategy aims to deliver security
and sustainability of the energy system, while keeping a sharp focus on a just energy transition and value creation for our stakeholders.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The Company is pursuing these objectives by:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">&bull;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify">leveraging its global upstream and partnerships with producing countries to find alternative and <B>additional
gas supply</B> opportunities; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">&bull;</TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><B>accelerating its decarbonization targets</B>, working to offer progressively decarbonized services
and products to our clients, in order to effectively tackle scope 1+2+3 emissions.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Eni has developed a distinctive strategic approach
based on:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Proprietary
                                            and Breakthrough Technology &ndash; </B>part of Eni DNA, the Company commitment to technology
                                            leadership underpins the development of new businesses to respond to the specific decarbonization
                                            challenges of our clients in different markets;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>New
                                            business models &ndash; </B>to support growth we are creating dedicated entities with tailored
                                            business models focused on their customers and the capability to independently access the
                                            capital markets. Such entities continue to benefit from Eni&rsquo;s R&amp;D, HSE culture,
                                            project management and financial strengths;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Stakeholder
                                            alliances -</B> working alongside a wide range of stakeholders we develop mutually beneficial
                                            solutions, synergies and new regulatory frameworks to transform the energy system and deliver
                                            a just and inclusive transition.</FONT></TD></TR></TABLE>

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

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

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>ACCELERATED
EMISSIONS REDUCTION</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Targeting
a faster emissions reduction path toward net zero program.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Net
                                            zero scope 1+2+3</B>: 35% reduction by 2030 and -80% by 2040 vs 2018 levels (compared to
                                            previous targets of -25% and -65%).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Net
                                            zero scope 1+2</B> emissions cut by 40% cut by 2025 (vs 2018 levels) on the way to net zero
                                            by 2035 &ndash; five years earlier than previously planned.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Net
                                            zero scope 1+2 upstream</B>: -65% by 2025 vs 2018 confirming on track for net zero by 2030.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">While
reducing emissions, Eni will develop a growing offer of full decarbonized Energy solutions to customers:</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Plenitude
                                            </B>is expected to offer all retail power customers green electricity as it grows its customer
                                            base to 15 million and develops more than 15GW Renewable Capacity by 2030;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Biorefining
                                            </B>capacity will growth up to 6 MTPA in the next decade;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Hydrogen
                                            </B>will contribute in our plan for around 4 MTPA by 2050.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">In
the next decade the first <B>Magnetic Fusion</B> commercial plant will be developed, potentially opening the route for a limitless source
of clean, safe and secure energy.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">To
fund this growth, Eni will increase the share of investments directed at new energy solutions to almost 30% by 2025, doubling to 60%
by 2030, and up to 80% around 2040.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">In
a decade, these businesses will be Free Cash Flow positive and increasing to around 75% of group Free Cash Flow from 2040.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>ENLARGED
INTEGRATED GAS PORTFOLIO</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Securing
supply to premium markets through <B>global gas portfolio</B>:</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">50TCF
                                            of global portfolio of reserves and resources;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">14TCF
                                            of additional gas available to the market in the short-medium term;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">15MTPA
                                            of contracted LNG volume by 2025, of which 80% equity.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Eni&rsquo;s
portfolio and global investments over the last decade put the Company in a very strong position to significantly grow its natural gas
business, with around 50 TCF of reserves and resources.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Eni&rsquo;s
gas projects are well-positioned to serve key markets and are expected to reach more than 15 MTPA of contracted LNG volumes by the end
of the plan.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
Company can make available to the market, in the short-medium term, more than 14 TCF of additional gas resources.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>NATURAL
RESOURCES: DECARBONIZING AND ENHANCING THE UPSTREAM PORTFOLIO</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Eni&rsquo;
commitments in the upstream are grounded on enhancing the sustainability and value of the portfolio, increasing profitability and lowering
carbon footprint.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Production</B>:
                                            growing at average of 3% per year (1.7Mboe/d in 2022; 1.66Mboe/d in 1Q22) to a plateau of
                                            around 1.9Mboe/d in 2025. Progressively increasing the share of gas to 60% by 2030 and up
                                            to more than 90% beyond 2040, while the oil volumes will reduce in the medium-long term.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Upstream
                                            Net Carbon Footprint (Scope 1+2): </B>decreasing of 65% by 2025 compared to 2018 on the way
                                            to net zero by 2030.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Reducing
                                            methane emissions:</B> plan in line with the Global Methane Pledge.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Exploration</B>:
                                            2.2 bln boe of new resources in the four-year plan (UEC &lt;$1.5/boe).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>CCS</B>:
                                            total storage target of around 10MTPA at 2030, with an overall gross capacity of around 30MTPA.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Capex</B>:
                                            around &euro;4.9bln in 2022; &euro;4.5bln on average during the Plan (excluding equity accounted
                                            entities).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Cumulative
                                            upstream organic FCF </B>post working capital: around &euro;29bln in the plan.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Cumulative
                                            GGP FCF </B>post working capital of around <B>&euro;2.7bln in the Plan with 2022 EBIT seen
                                            at &euro;0.9bln</B>, but with significant quarterly volatility.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">During
the plan we will bring on-stream 11 major projects including Baleine in Cote d&rsquo;Ivoire, Marine XII LNG in Congo, Coral in Mozambique,
Dalma Gas in UAE and other gas projects in Italy,&nbsp;Indonesia and Norway. These together with ramp-ups will add almost 800kboe/d to
the baseline upstream production in 2025.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Our
upstream will also be more sustainable and valuable with a net carbon footprint scope 1+2 falling by 65% by 2025 (vs 2018), on-track
to our 2030 net-zero target. At the same time average upstream cash neutrality will fall to around $25/boe ($30/boe in 2021).</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">We
will continue focus on fast time to market projects, limiting idle capital and maximizing IRR. Equity capex will be at around &euro;4.9bln
in 2022 and &euro;4.5bln on average during the plan (capex in the plan does not include equity accounted entities).</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Over
the four-year plan, Exploration activities will continue to be a distinctive factor and the main source of Eni&rsquo;s diversification
towards a gas weighted, fast time-to-market and low breakeven portfolio with an average unit exploration cost below $1.5/bbl. Exploration
will focus on infrastructure lead and near field opportunities in proven basins, with a high gas potential, targeting 2.2bln boe of overall
resources.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Contractual
LNG volumes are expected to exceed 15MTPA by 2025.This growth will be driven by new projects in Congo, Angola, Egypt,&nbsp;Indonesia,
Nigeria and Mozambique where we are fast-tracking gas valorization developments. In Congo, the export project consists of two modular
and flexible LNG liquefaction plants, which allow a highly competitive time-to-market. We target LNG production to start-up in 2023.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Finally,
CCS plays an important role helping hard to abate industries cut their emissions. From the current projects pipeline we target storage
of around 10 MTPA of our own emissions by 2030, with an overall gross capacity including 3<SUP>rd</SUP> party volumes of 30MTPA.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>ENERGY
EVOLUTION: GROWING PROFITABLE NEW ENERGY BUSINESS</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Eni
aims to expand the offer of decarbonized energy products and services acting as an enabler for driving down scope 3 emissions among its
customers.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Plenitude,
</B>Eni&rsquo;s green power value chain company integrates renewables, energy solutions for customers and a widespread Electric Vehicle
(EV) charging network, with a model designed to deliver resilient value<B>.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Renewable
                                            power generation: </B>reaching more than 2GW of installed capacity by 2022, from around 1GW
                                            in 2021, and more than 6GW by the end of the plan.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Retail
                                            activities: </B>reaching 11.5mln customers by 2025, from more than 10mln in 2022.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>EV
                                            charging points: </B>expanding network in e-mobility, up to more than 30,000 charging points
                                            by 2025.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Plenitude&rsquo;s
                                            pro forma EBITDA: </B>more than double by the end of the plan versus 2021, up to &euro;1.4bln.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Plenitude
listing process is progressing and we have filed the Registration Document with the Italian Market Authority.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Sustainable
Mobility: </B>Eni is merging its bio-refining and marketing operations into a Sustainable Mobility company, uniquely positioned as a
multi-energy, multi-service, customer-centric business.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Biorefining</B>:
                                            capacity increasing from 1MTPA to around 2MTPA by 2025, via the expansion of the Venice plant
                                            and another traditional refinery conversion; 6MTPA will be achieved in the next decade.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Feedstock</B>:
                                            vertical integration to secure feedstock through the development of an agro-hubs network
                                            in many of the countries of Eni&rsquo;s existing upstream operations, targeting 35% cover
                                            by 2025.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Marketing:
                                            </B>Eni&rsquo;s service stations will be transformed to a place where its customers will
                                            access sustainable fuels and retail services.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Sustainable
                                            mobility EBITDA</B>: more than &euro;0.9bln EBITDA by 2025.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
overall downstream business (R&amp;M and Versalis) will be impacted by both a negative scenario and by increased utility costs in 2022.
2022 EBIT is expected to be negative and 1Q22 has been challenging. However, thanks to the ongoing transition towards the circular economy
projects and green products, as well as an expected recovering scenario, the business is able to self-sustain its transformation over
the plan period.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>FINANCIAL
STRATEGY</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Eni&rsquo;s
disciplined financial plan is a structural component in the execution of our transition strategy.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Average
                                            yearly <B>capex </B>of around &euro;7bln during the plan with 2022 capex at &euro;7.7bln
                                            (excluding equity accounted entities).</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>IRR
                                            of Upstream projects in execution at 21% @Eni Scenario.</B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Renewable
                                            Portfolio Return for new investment: +200bps vs Plenitude WACC.</B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Portfolio
                                            management net contribution 2022-2025 of around &euro;3bln.</B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>CFFO
                                            </B>before working capital at replacement cost at Eni scenario <B>more than &euro;14bln in
                                            2022 </B>and around <B>&euro;55bln along the plan period.</B></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Increasing
                                            <B>Sustainable Finance instruments</B>, targeting more than &euro;13bln in 2025.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Cash
                                            neutrality below $45/bbl </B>along the plan period.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">While
maintaining strict capital discipline, with average annual capex of &euro;7bln in line with last year&rsquo;s plan, Eni will also continue
to restructure our portfolio to focus on the real value of our businesses and to maximize our opportunities of growth.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Around
25% of capex is allocated to increasing renewable capacity and our customer base, implementing circular economy projects, building incremental
biorefining capacity and expanding our sustainable mobility proposition.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Over
the plan period we retain a high degree of flexibility with nearly 40% of cumulative capex uncommitted, ensuring a material buffer versus
future market volatility.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Portfolio
management will be a key component of our plan leveraging on the <B>new business models</B> approach and <B>portfolio high-grading</B>
to deliver value.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Through
Eni&rsquo;s <B>new business models approach</B> the Company is unlocking its asset growth potential and seeking to highlight full value
through market valorization mechanisms:</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.5in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">o</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">In
                                            the upstream we intend to create further dedicated vehicles in selected geographies like
                                            we have been doing in Norway with <I>V&aring;r Energi</I>, where we have recently launched
                                            the largest IPO in O&amp;G in over a decade; and in Angola through our Azule Energy our business
                                            combination with BP.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.5in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">o</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">We
                                            are speeding up new businesses and technologies related to decarbonization. Earlier this
                                            month we successfully completed the listing of the first London listed SPAC focused on the
                                            energy transition.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.5in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">o</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">We
                                            also plan to list Plenitude, our retail, renewables and electric vehicle charging business
                                            in 2022, subject to market condition.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Eni
will also continue <B>portfolio high-grading</B>, exiting or diluting its exposure from non-core assets and countries, while evaluating
tactical acquisitions to optimize our portfolio.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">In
the 4-year plan Eni expects to generate from these portfolio management a positive net cash contribution of around &euro;3bln.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
Company will also continue to align its financial tools to the strategic milestones it has designed in its decarbonization plan. At the
end of the plan &euro;13bln of financing instruments will be linked to Eni strategic KPIs.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Eni
is financially resilient and highly cash generative. Assuming a Brent price of 80$/bbl CFFO before working capital at replacement cost
is expected to exceed &euro;14bln in 2022 and organic FCF before working capital at replacement cost for the year to be &euro;6-7bln.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Over
the 4-year period, at the Eni plan scenario, the Company will generate a cumulative CFFO ante working capital at replacement cost of
about &euro;55bln euro and FCF ante working capital at replacement cost of more than &euro;25bln.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Enhanced
Shareholder Remuneration</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Sharing
the value of Eni&rsquo;s strategic progress and the improved scenario with investors, Eni&rsquo;s Board of Directors has approved an
enhanced shareholder distribution as follows:</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
                                            annual total dividend is raised to &euro;0.88 per share from &euro;0.86, based on the 2022
                                            Brent Reference between $80/bbl to $90/bbl.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
                                            dividend will now be paid in four equal quarterly instalments in September&nbsp;2022, November&nbsp;2022,
                                            March&nbsp;2023 and May&nbsp;2023.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Reflecting
                                            the strength of Eni&rsquo;s plan and the 2022 reference price, Eni will also launch a &euro;1.1
                                            bln share buyback, following shareholder approval in May.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">In
                                            addition, Eni will update its 2022 buyback scenario assessment in July&nbsp;and October.
                                            For scenarios above $90/bbl further buybacks equivalent to 30% of the associated incremental
                                            FCF will be made.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="font-family: Arial, Helvetica, Sans-Serif; vertical-align: top">
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&bull;</FONT></TD><TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Reflecting
                                            the underlying resilient performance of the business, the sliding scale of variable dividend
                                            per share from the floor level of &euro;0.36 has also been simplified.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">NOTE:</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><I>Eni
Scenario Assumption:</I></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><I>Brent
price: 80 &ndash; 75 &ndash; 70 &ndash; 70 $/bbl from 2022 to 2025 respectively;</I></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><I>PSV
(italian gas hub) @: 688 &ndash; 452 &ndash; 363 &ndash; 293 &euro;/kmc from 2022 to 2025 respectively; Exchange rate $/&euro;: 1.15
 &ndash; 1.18 &ndash; 1.21 &ndash; 1.24 from 2022 to 2025 respectively.</I></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><I>Plenitude
figures (Renewables Capacity, Retail customers and EV charging points) are expressed at Eni 100% stake.</I></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B><U>Company
Contacts:</U></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Press
Office: Tel. +39 02 52031875 &ndash; +39 06 59822030</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Freephone
for shareholders (from Italy): 800 940924</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Freephone
for shareholders (from abroad): +800 11223456</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Switchboard:
+39 06 59821</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B><U>ufficio.stampa@eni.com</U></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B><U>segreteriasocietaria.azionisti@eni.com</U></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B><U>investor.relations@eni.com</U></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Website:
</B></FONT><B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><U>www.eni.com</U></FONT></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

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

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
