Proprietary technologies, new business models, stakeholder alliances: our distinctive approach to building energy security and emissions reduction.

Along with everyone at Eni, I would like to again express my whole-hearted support for the people of Ukraine. We stand in solidarity with them.?

This crisis has created a significant threat to energy security which we must meet without abandoning our ambition for a just transition.

Eni has responded by working closely with governments to replace Russian gas with new supplies from countries with which we have built strong alliances over many years.?This will help strengthen the flows to Europe through our North African pipeline and by sea.

Thanks to the wealth of discoveries made by Eni over the last 10 years, we will also be able to place significant additional quantities of LNG onto the global market, helping diversify global supplies.?

But we must not forget that our energy security requires an energy transition. We must increase the supply of the carbon free energies that can replace fossil fuels.?

To fast-track Eni’s transition, we are investing in proprietary technology, developing new business models and building new stakeholder alliances that can help us meet customers’ needs for carbon free energy.

This approach has allowed us to announce a significant acceleration of our plan to get Eni to net zero by 2050.?We will now cut overall net emissions (including those generated by customers’ use of our products) by 35% by 2030 and 80% by 2040. ?This compares to our previous targets of a 25% reduction by 2030 and a 65% reduction by 2040.?

We are reshaping our company to meet these goals. We continue to pursue the listing of Plenitude which brings together our retail gas and power business with our electric vehicle charging network and renewables projects.?And we also announced today we are creating a new sustainable mobility business combining our biofuels, service station and ride sharing activities. ?

As a result of our disciplined approach, we have also announced an enhanced shareholder remuneration policy today.?You can find more detail on our plans on eni.com.

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