FACT SHEET

(1) calculated on Eni avg share price in Dec 2013 (2) Peer Group: BP, Chevron, Conoco, Exxon, Shell, Total

WHO WE ARE

INVESTMENT CASE

DIVIDEND (€/SHARE) AND DIVIDEND YIELD(1) (%) SHARE PERFORMANCE Q1 2014(€)

Last update May 2014 pag. 1

Exploration & Production Gas & Power Re�ning & Marketing

Italian Gov30 % Market70 %

Engineering & Construction(Saipem)43 % Chemicals (Versalis)100 %

Major equity holdings

Snam 8 %Galp 9 %

Eni is one of the largest integrated energy com-panies in the world, operating in the sectors of oil and gas exploration & production, international gas transportation and marketing, power generation, re-fining and marketing, chemicals and oilfield services.Eni is active in 85 countries with 82,300 employees.Our commitment to sustainable development means that we grow and retain our people, contribute to the development and wellbeing of the communities in which we operate, protect the environment, and in-vest in technological innovation and energy efficiency, mitigating the risks of climate change.

eni.comFTMIB: ENI US ADR: E

Unbeatable exploration successBetween 2008 and 2013, Eni has discovered over 9.5 billion boe, equivalent to 2.5 times its production over the same period. The average exploration cost was 1.2$/boe. Just in 2013, 1.8 billion boe of resources, with new well in Mozambique, Angola, Norway, Ghana and Congo. These discoveries will fuel future growth and accelerate cash generation through the dilution of shares in the discoveries in which Eni holds a large working interest. In the next four years, Eni’s target is to discover an additional 3.2 billion boe at a unit cost of 2.2 dollars.

Production growth resulting in strong cash generationThe E&P portfolio is mainly composed of conventional assets with low costs and high profitability. Cash flow per barrel was 30 dollars in 2013 and will rise in the coming years thanks to the growing contribution of oil vs gas in our production mix (from 52% in 2013 to 57% in 2017). Eni’s production will grow by 3% per annum in the 2014-17 period and 4% per annum in the long run. Volume growth will be accompanied by an even stronger cash generation, which will increase by 5% per year, given our scenario assumptions. Over the plan period, 26 start-ups will contribute over 500 kboe per day, with an additional 200 kboe per day will come from ramp-ups currently underway. Return to profitability of the G&P, R&M and Chemicals businessesEni holds a leading position in the European gas sector, where it sells over 80 billion cubic metres a year, and it has begun a transformation process of its midstream activities, with supply contract renegotiations, transport capacity reductions and a focus on high value segments (LNG, trading and retail). Capacity cuts are ongoing also in the refining business, with an additional 23% planned in the next few years, on top of the 13% reduction already delivered in recent times. Versalis is reconverting the Porto Torres and Porto Marghera sites into “green” chemical plants and is expanding its international footprint with joint ventures in Asia. Collectively, the mid and downstream businesses will return to profitability in 2015-16 and will contribute 3 billion euro in operating cash flow over the course of the plan. Portofolio flexibility and additional cash generationIn 2012-13, Eni has completed divestments totaling 13 billion euro and has deconsolidated over 12 billion euro related to Snam’s debt. The sales did not meaningfully impact long term production prospects and helped reduce exposure to exploration assets or non-core holdings. Over the course of the plan, Eni will complete an additional 9 billion euro in divestments, with the sale of the residual shares in Snam and Galp as well as the dilution of large stakes in exploration successes.

Progessive dividends and buybackEni has a generous distribution policy. 2013 dividend was 1.10 euro per share; a 1.12 euro per share dividend has been proposed for 2014, a 1.8% increase over the previous year. Dividend yield is 6.6%. at the same, Eni has launched a buy back program: a flexible tool that will support the remuneration policy over the coming years, with the target or repurchasing up to 10% of outstanding shares.

Leader in sustainabilityEni is a leader in the FTSE4Good and Dow Jones sustainability indices

Dividend Dividend YeldProposed

0.0

1%

0%

0.2

2%0.43%

0.64%

0.85%

1.0 6%

1.2 7%

1.4 8%

2006 2007 2008 2009 2010 2011 2012 2013 2014Dec-13 Jan-14 Feb-14

Peer group(2) FTMIBENI

Mar-14

ENI IN NUMBERS

Production of oil and natural gas (kboe/d)

Eni adj. operating profit (€ million)

Eni adj. net profit (€ million)

Capital expenditure (€ million)

Net cash flow from operations ( € million)

Net debt (€ million)

Leverage

1,815

17,304

6,869

13,870

14,694

26,119

0.47

1,581

17,974

6,969

13,438

14,382

28,032

0.46

1,701

19,010

7,130

12,761

12,356

15,511

0.25

Eni spa Investor Relations - Piazza Vanoni, 1 - 20097 San Donato Milanese (MI) ItalyTelephone: +39 02 52 05 16 51 Fax: +39 02 52 03 19 29 Email: investor.relations@eni.com Website: www.eni.com

LATEST ANNOUNCEMENTS AND ACCOMPLISHMENTS

CONTACTS

G&P is engaged in all phases of thegas value chain: supply, trading andmarketing of gas and electricity, gasinfrastructures, and LNG supply andmarketing. Eni sells more than 60% of its gas outside Italy and its leading position in the European gas market is supported by competitiveadvantages, including its multicountryapproach, long-term gas availability, access to infrastructure, market knowledge, wide product range and strong customer base.

R&M refines and markets fuels andother oil products primarily in Italyand Central-Eastern European countries.Our R&M division is relatively smallcompared to the R&M segment ofour peers. Eni is the largest refinerin Italy and the leading operator inretail marketing of fuels with a market share of around 30%.Eni’s strategy in R&M is to cut costsand enhance margins to return toprofitability.

E&P is our main division. It is currently present in 42 coun-tries and is focused on finding and producing oil and gas. Eni’s strategy is to deliver organic production growth with increasing returns over the medium to long term, leveraging on a high-quality portfolio of assets, exposure to competi-tive giant projects and long-standing relationships with host countries. Our strategy combines geographical diversifica-tion with scale benefits and project synergies. More than 75% of our production will come from either onshore or shallow water, with a positive impact in terms of risks and operat-ing costs.

Main projects start up

€ -0.66 B adj operating profit€ 0.23 B capex93 bcm gas sold worldwide35 Twh electricity sold10 million customers inEurope, of which 8 in Italy

€ -0.48 B adj operating profit€ 0.62 B capex787 kbbl/d capacity27.4 Mtonnes throughput6,400 fuel stations

1.62 Mboe/d of production6.5 mmboe proved reserves with a life index of 11.1 y105% organic reserve replacement ratio€ 14.6 B adj operating profit€ 10.5 B capex

2010 2011 2012 (1) 2013 Q1 2014

eni.comFTMIB: ENI US ADR: E

2013 HIGHLIGHTS 2013 HIGHLIGHTS

2013 HIGHLIGHTS

EXPLORATION AND PRODUCTION

GAS & POWER REFINING & MARKETING

(1) Following the announcement of Snam divestment, figures are represented as continuing operations

FACT SHEET

Last update May 2014 pag. 2

2014 - Eni Shareholders approve 2013 Financial Statements and appoints the Company Officers at Annual Meeting2014 - Eni signs agreements for the sale of Refining & Marketing activities in the Czech Republic, Slovakia and Romania to MOL Group2014 - Eni makes a new offshore oil and gas discovery in the Norwegian Barents Sea2014 - Eni: first quarter results of 20142014 - Eni signs final agreement with Statoil on revision of terms in long-term gas supply contracts2014 - Eni completes the sale of 7% of Galp’s share capital2014 - 2013 Consolidated Financial Statements and Draft Financial Statements of the Parent Company2014 - Eni 2014 - 2017 Strategic Plan2014 - Eni announces results for the fourth quarter and the full year 20132014 - Eni: important new discovery in offshore Congo

• 08 May• 07 May• 02 May• 29 April• 31 March• 28 March• 17 March• 13 February • 13 February • 13 February

1,583

3,491

1,187

2,545

2,151

13,799

0.22

2014-2015 2016-2017

Mafumeira Sul 15/06 West Hub

Kizomba Sat. Ph.2

Litchendjili gas

CAFC oil

Asgard Mikkel Eldfisk II Ph.1

West Franklin Ph. 2

Goliat

Perla EP Junin 5 EP

Perla FF

Hadrian South Longhorn Ph.3

Lucius

Heidelberg

Jangkrik

Wafa compression

Bonaccia NW

15/06 East Hub

1,619

12,620

4,433

12,750

10,969

15,428

0.25