Today, Eni’s Board of Directors approved the Group results for the first quarter of 2019 (unaudited). Commenting on the results, Claudio Descalzi, CEO of Eni, remarked: “I am very pleased of the excellent industrial and financial performance delivered by Eni in IQ 2019. Particularly, in light of a substantially unchanged market scenario, the E&P business has improved its operating profit by 25% compared to the first quarter of 2018, confirming our expectations of the business growing cash generation for the full year. The results of the G&P segment also improved; the 16% increase in operating profit to €372 million puts us on the path to achieving our €500 million profit target for the full year. The performance of the Downstream R&M and Chemicals business offset the effect of weaker margins and we expect to see a broad recovery over the next nine months, particularly in oil Refining and Marketing. Overall, first quarter operations generated a cash flow of €3.42 billion, up 8% and €1.5 billion greater than the investments for the period of around €1.9 billion, which is in line with the expectations of €8 billion for the whole year. The Group confirms that it can leverage on the quality and robustness of its asset portfolio, capable of covering costs, investments and dividends at a Brent price of US$ 55, in addition to generating a cash surplus in the event of higher prices, as in current trading conditions.”

2. 2
Highlights 1Q
EBIT: € 2.3 bln (+25% YoY)
Production: 1,832 kboed (-1.3% YoY adj price and portfolio)
Exploration: 174 Mboe resources discovered; added >23,000 sq km
Upstream
CFFO: € 3.2 bln before working capital (ante IFRS16)
Capex: € 1.9 bln; FY2019 guidance confirmed
Leverage: 16% ante IFRS16 (27% post IFRS)
Financials
G&P: EBIT continuous enhancement (+16% vs last year)
R&M: close to breakeven in a challenging scenario
Versalis: impacted by Priolo downtime and market weakness
Mid-downstream

3. 3
Upstream: continued value growth
Oil & Gas Production| kboed Upstream EBIT Adj| € bln
1,8321,867
-10 -25
1Q 2018 Price &
Portfolio
Ramp ups +
start ups +
performance
1Q 2019
2.1
2.3
1Q 2018 1Q 2019
Norway
+25%
66.8
239
1.229
63.2
222
1.136
Brent($/bbl)
PSV (€/kmc)
FX
*
*Includes the expire of the Intisar contract in Libya.

4. Key start ups concentrated in the 2nd half
4
AVG 2H19
CONTRIBUTION
Berkine & BRN Pipeline 49% WI
Progress: >80%
2H 2019 Equity : 21 kboed
Plateau 100%: 55 kboed @2020
ALGERIA
GAS
LIQ
Progress: >80%
2H 2019 Equity : 6 kboed
Plateau 100%: 100 kboed @2022
Area 1 65% WI
MEXICO
LIQ
Baltim SW 50% WI
Progress: >70%
2H 2019 Equity : 14 kboed
Plateau 100%: 90 kboed @2020EGYPT
GAS
Confirmed @ 1.88 Mboed2019 production guidance
KEY 2019 START UPS
>40 kboed
equity
NORWAY
Progress: >80%
2H 2019 Equity : 2 kboed
Plateau 100%: 40 kboed @2020
Trestakk 5.5% WI
LIQ
RAMP UPS &
MAJOR GROWING FIELDS
~80 kboed
equity

5. 5
Peers: BP, CVX, COP, XOM, RDS, EQUINOR, TOT.
DNCF confirms upstream portfolio quality
Unit DNCF| $/boe
8.711.2 10.6 8.3 10.9 11.8 14.5 14.3Life Index
9.9 9.2
8.4 8.2
7.1
6.3 6.2 5.9
peer 1 Eni peer 2 peer 3 peer 4 peer 5 peer 6 peer 7
48%56% 49% 47% 55% 50% 57% 64%
49.544.3 44.9 43.9 45.3 37.3 42.0 43.0
Oil reserves
Avg selling price $/boe
18.616.6 17.6 23.4 25.6 20.9 23.9 21.8Prod & dev & aband.
cost $/boe

6. 6
Strong G&P result, while downstream impacted by scenario and downtime
G&P EBIT Adj | € mln R&M EBIT Adj | € mln Versalis EBIT Adj | € mln
322
372
1Q 2018 1Q 2019
18
-9
1Q 2018 1Q 2019
59 -46
1Q 2018 1Q 2019

7. 7
Capex in line with yearly guidance
~8 € bln
2019 CAPEX
GUIDANCE
CONFIRMED
85%
2%
11%
2%
Upstream G&P R&M & Chem Energy Solutions
& Others
€ 1.9 bln
CAPEX 1Q

8. Robust cash and economic results
8 ~1 bln euroNet adj
CFFO before WC (ante IFRS)| kboed EBIT Adj| € bln
3.2 3.2
1Q 2018 1Q 2019
2.4 2.4
1Q 2018 1Q 2019
+17%
2.1
Norway
UPIS

9. Back up
9

10. 10
Market scenario
Brent| $/bbl Exchange Rate| €/$
European Gas Prices| €/kcm Standard Eni Refining Margin| $/bbl
PSV
TTF
66.8
63.2
1Q 2018 1Q 2019
1.229
1.136
1Q 2018 1Q 2019
3.0 3.4
1Q 2018 1Q 2019
239 222227
195
1Q 2018 1Q 2019

11. STRATEGY PRESENTATION 2019-2022IFRS 16 IMPACT
11
Cash Flow
2019
Balance Sheet
@ 1/1/2019
Income Statement
2019
~5.7 € bln
Capital
Employed
~5.7 € blnNet Debt
Year end Leverage: ~10 p.p.
~0.9 € bln
Free Cash
Flow
~0.3 € bln
Operating
profit
Net Profit ~~~-0.1 € bln