Stakeholders engagement and materiality analysis

| 2-29  | 3-1 | 3-2  | 3-3 |

Stakeholder engagement is a key lever to create shared value in the long term and to pursue a just transition.
In order to capture stakeholder needs and expectations, Enel promotes a continuous, active and open dialog with its stakeholders, through numerous listening initiatives led by the different corporate functions with different roles,levels of engagement and responsibility.
Stakeholders are grouped into categories, classified into three levels. Specifically, the first level includes:

• Business community;
• Customers;
• Financial community;
• Institutions;
• Civil society and local and global communities;
• Media;
• Enel people;
• Suppliers and contractors.

In the chapter “Stakeholder engagement and materiality analysis”, the respective degree of relevance, the type and initiatives of engagement used, the priority issues and the Company’s response methods are reported for each category of stakeholders, internal and external.
The stakeholder engagement process, carried out in line with the Accountability AA1000 Stakeholder Engagement Standard (AA1000SES) and through a dedicated IT system (“e-mia®: Engagement – materiality & impact analysis”), supports the process of identifying material topics (the so-called “Materiality analysis”).

| 2-29  | 3-1 | 3-2  | 3-3 |

By engaging the various categories of internal and external stakeholders, the materiality analysis identifies the material topics for Enel, i.e., the environmental, social and governance topics related to the most significant impacts, risks and opportunities for the Group. The results of this analysis guide the definition of objectives to be included in sustainability planning and ensure quality in relations with all Group stakeholders, while also supporting primary users in their decision-making processes.

The Enel Group’s materiality analysis was developed in line with the GRI 2021 Universal Standard, the Value Reporting Foundation – SASB standard, the SDG Compass, which supports companies in adapting their strategies to the UN SDGs. In recent years, the materiality analysis has been strengthened by taking into account the ongoing regulatory developments at the international level and the requirements introduced at the European level by the Corporate Sustainability Reporting Directive (CSRD), the European Sustainability Reporting Standards (ESRS) and the current proposed guidelines provided by the European Financial Reporting Advisory Group (EFRAG). Regulatory developments have introduced the double materiality perspective, which comprises two dimensions:

• impact materiality: which identifies material topics from the perspective of the impacts generated by the Company, i.e., the effects the organization has or couldhave on the economy, the environment and people;
• financial materiality: which identifies material topics from the perspective of risks and opportunities that affect or could affect a company’s financial position, financial performance and cash flows, access to finance or cost of capital over the short, medium or long term.
  

Both dimensions include assessments from a human rights standpoint.

Stakeholder engagement and materiality analysis then enable the definition of objectives to be included in sustainability planning and support primary users in their decision-making processes, thereby ensuring the quality of the Group’s stakeholder relations.