SECOND QUARTER 2013 RESULTS7 AUGUST 2013

LUCA BETTONTE, CEO

2

DISCLAIMER

This document contains certain forward-looking information that is subject to a number of factors that may influence the accuracy of the statements and the projections upon which the statements are based.There can be non assurance that the projections or forecasts will ultimately prove to be accurate; accordingly, the Company makes no representation or warranty as to the accuracy of such information or the likelihood that the Company will perform as projected.

3

AGENDA

2Q 2013 Highlights✓ Key Figures✓ Recent Developments in Renewables

Results Review✓ Business Environment✓ 2Q 2013 Group EBITDA✓ Results by Segments

Key Financials✓ Profit & Loss✓ Investments ✓ Cash Flow Statement

2013 Guidance and ConclusionsAppendix

4

RC Ebitda Adj (€mn)

HIGHLIGHTS: KEY FIGURES

27%

43%

Leverage

RC Net Profit (€ mn)

Strong Renewables and Power, weak R&M

POWER & GAS

RENEWABLES

REFINING & MARKETING

CORPORATE

722

1,462

030/06/2013

DERIVATIVESNFP EXCL. DERIVATIVES1,298

(1) Adjusted Net Financial Position does not include NFP of ISAB Srl

164

638

84

31/12/2012

(1)

205

293

0

159

73

(14)(14)

322(8)

1H 20122Q 2013

1H 2013 2Q 2012

94120

175

150

(16)(16)

6785

58

(14)(9)

1H 20122Q 2013

(9)

0

25

(10)

(2)

1H 2013 2Q 2012

Highlights

5

FURTHER EXPANSION IN EASTERN EUROPE

• On June 20, 2013 LUKERG Renew has signed an agreement with Vestas to purchase Gebeleisis wind farm (70MW), fully operational since February 2013

• EV of €109.2mn (€1.56mn/MW)

• Producibility: 2,300heq

• Closing took place on June 28, 2013

Romania

• On June 20, 2013 LUKERG Renew has signed an agreement with Vestas to purchase Hrabrovo wind farm (14MW), fully operational since March 2012

• EV of €17.6mn (€1.26mn/MW)

• Producibility: 2,400heq

• Located near Tcherga wind farm but with no grid limitations

• Closing expected in 3Q 2013, after the Antitrust approval

Bulgaria

• Securing targeted growth in Eastern Europe (+100MW in 2013-15 Business Plan)

• Boosting geographical diversification: 20% of installed capacity will be abroad

• Strengthening ERG Renew partnership with Vestas

ERG Renew strategy

Highlights

6

INTEGRATION IN THE O&M ACTIVITIES

• On July 26, 2013 ERG reached an agreement with Maluni to acquire a 100% stake in a Newco responsible for O&M at ERG Wind’s Italian wind farms

• EV of €10mn

• 136 workforce highly specialized in the O&M of wind farms

• Closing to take place in 4Q 2013 after clearance from ERG Wind’s Lenders

• Further acquisition of technical skills to manage wind farms in an integrated way

• Margin internalization in excess of €5mn per year, boosting profitability at ERG Wind

• Possibility to expand O&M activities to ERG Renew wind parks in Italy and abroad under study, with a high potential of further costs optimization

Strategic rationale

Highlights

Deal description

7

RESULTS REVIEW

FINANCE DIRECTOR

PAOLO MERLI

8

BUSINESS ENVIRONMENT

2Q 2012 3Q 2012 4Q 2012 1Q 2013 2Q 2013

ITALIAN PRICE ZONAL PRICE SICILY CIP6

Electricity Prices (€/Mwh)

118115

9086

73

57

2Q 2012 3Q 2012 4Q 2012 1Q 2013 2Q 2013

EMC Margin ($/bbl)

0.99

(1.04)

2Q 2012 3Q 2012 4Q 2012 1Q 2013 2Q 2013

Industry Retail Fuels Volumes (M tons)

6.09

5.70

Results Review

2Q 2012 3Q 2012 4Q 2012 1Q 2013 2Q 2013

Renewables: Electricity Prices (€/Mwh)

150148

8990

96 96

(1) Italian price is theoretical price based on National Average Electricity Price (PUN) + GC

FRANCE ITALY BULGARIA GERMANY(1)

95 94

9

1,292

2Q 2012

0

94

26

(16)18(1)

Power & GasRenewables Refining & Marketing Corporate 2Q 2013

120

2Q 2013 GROUP EBITDA

Ebitda growth driven by Renewables and Power

Results Review

10

RC Ebitda (€ mn)

RENEWABLES RESULTS

76

32

1,400

291

Volumes (Gwh)

Strong growth mainly driven by ERG Wind

73

32

2

139

0

0

Results Review

2Q 20121H 2012

4

30

(1) Bulgaria: ERG ‘s stake = 50%

655

69

4

ITALY FRANCEBULGARIA(1)GERMANY

3161

ERG Wind

29

700ERG Wind

2Q 2013

590

12

630

27

1H 2013

568

1,231

261516

286ERG Wind

2Q 2012

1H 2012

2Q 2013

1H 2013

150

58

30 54

2

0.6 22

ERG Wind

78

11

RC Ebitda (€ mn)

POWER RESULTS

Volumes (Gwh)

Strong figures in Power

Results Review

46 53

14 28

113

122

53

57

ERG POWERISAB ENERGY

159

85

0

1H 2012

2Q 2012

1H 2013

2Q 2013

175

67

3,397

1H 2012

2Q 20120

3,423

1,595 1,630

1H 2013

2Q 2013

1,978

1,419

2,109

1,314943

652

1,037

592

8

3 7

2

23

21

21

13

12

RC Ebitda (€ mn)

MARKETING RESULTS

1Q 2013

EOS TOTALERG

Market Share (%)

Still tough environment

2Q 2012 3Q 2012 4Q 2012

10.9%11.4%

1.1%0.9%

Results Review

RC Ebitda (€ mn)

24

31

0

2Q 2013

EOSTOTALERG

1H 20122Q 20121H 2013

2Q 2013

15

28

13

RC Ebitda (€ mn)

REFINING RESULTS: COASTAL AND INLAND

2Q 2012 3Q 2012 4Q 2012 1Q 2013 2Q 2013

Margins ($/bbl)

0.65

1.24

(2.91)

(0.15)

Volumes(2) (k tons)

Worsened and still negative Refining(1) Inland Refining EBITDA includes Logistics(2) Volumes relate to 100% of TOTALERG stake in Rome (100%) and Sarpom (24%)

Results Review

EMC MARGIN

COASTAL REFINING MARGIN

INLAND REFINING MARGIN

(1.04)

0.99

2,316

670 1,166328

2,654

1,0281,406

555

4,970

1,698

1H 2012 1H 20130

2Q 2012 2Q 2013

2,572

883

INLAND REFININGCOASTAL REFINING

(45)

(39)

1H 20122Q 2012

(12)

(27)

(12)

(14)

01H 20132Q 2013

(9)

(36)

(8)

(21)

(26)

(29)

(1)

14

KEY FINANCIALS

15

PRO-FORMA REPLACEMENT COST P&L

Note: figures based on NO GAAP measures

Key Financials

1H 2013 1H 2012 Euro millions 2Q 2013 2Q 2012

293 205 RC Adjusted EBITDA 120 94

(143) (123) Amortization and depreciation (73) (62)

150 82 RC Adjusted EBIT 47 32

(47) (36) Net financial income (expenses) (23) (20)

3 1 Net income (loss) from equity investments 2 (0)

106 47 RC Results before taxes 27 12

(55) (32) Income taxes (17) (11)

52 14 RC Results for the period 10 1

(27) (24) Minority interests (12) (11)

25 (9) RC Net profit (2) (10)

16

ADJUSTED INVESTMENTS

(1) Renewables adjusted for LUKERG Renew (50%). (2) R&M adjusted for TOTALERG (51%) and for ISAB Srl (40% from January to August 2012).(3) It includes investment for the acquisition of Tcherga (ca. €26mn)(4) It includes investment for the acquisition of Gebeleisis (ca. €55mn)

Key Financials

CORPORATEREFINING & MARKETINGRENEWABLESPOWER & GAS

(2)(1)

2517

15 11

4975

40

64

11

10

5

6 CORPORATEREFINING & MARKETINGRENEWABLESPOWER & GAS86

60

1H 20122Q 2012

(€ mn)

0

1H 20132Q 2013

102

82

1 1 0.3 0.4

(3)

(3)

(4)

(4)

(11)

17

1,510

47%

43%

39%

Adj. Net Debt

31/03/2013

Cash Flowfrom operation

WorkingCapital CAPEX Financial

Charges

Adj. Net Debt

30/06/2013

NFP 51% TotalErg and

50% LUKERG Renew

Net Debt30/06/2013reported

Leverage

2Q 2013 ADJUSTED CASH FLOW STATEMENT

55 (229)

0

Taxesand Other

(448)

Key Financials

DividendsERG Wind

Price Adjustment

(100)

1,7991,799

27 2361

Gebeleisis Acquisition

1,462

1,233

57

18

2013 GUIDANCE AND CONCLUSIONS

CEO

LUCA BETTONTE

19

293

>500

1H 2013

2013 GUIDANCE AND CONCLUSIONS

2013 FCST

102

2013 FCST(2)

1H 2013 2013 FCST(3)

LIQUIDITY PF OTHER AT MLT

1,462 ≈1,300

EBITDA:

CAPEX:

NFP:

Strong growth consistent with new business model

RENEWABLES CORPORATER&MP&G

0

0

0

✓Economic guidance confirmed after 1H results

✓Renewables & Power to contribute in excess of 90%

✓R&M expected to remain weak

✓FY Capex guidance adjusted to take into account Gebeleisis

acquisition

✓For 6M focus will be in Renewables: advancement in Romania

and in Palazzo San Gervasio wind farm construction

✓Guidance confirmed

1H 2013(1)

≈220

(1) It does not include 20% ISAB investments (ca. €15mn); it includes €55mn for Gebeleisis wind farm acquisition in Romania (2) It includes M&A investments in Renewables: €55mn for Gebeleisis in Romania, €9mn for Hrabrovo in Bulgaria and €10mn for ERG Wind O&M activities (3) It assumes put exercise on ISAB refinery within 31.12.2013

20

APPENDIX

21

1,292

1H 2012

0

205

7716 (2) (3)

Power & GasRenewables Refining & Marketing Corporate 1H 2013

293

1H 2013 GROUP EBITDA

Ebitda growth driven by Renewables and improvement in R&M

Appendix

22

1,510

27%

43%

39%

Adj. Net Debt

31/12/2012

Cash Flowfrom operation

WorkingCapital CAPEX Financial

Charges

Adj. Net Debt

30/06/2013

NFP 51% TotalErg and

50% LUKERG Renew

Net Debt30/06/2013reported

Leverage

1H 2013 ADJUSTED CASH FLOW STATEMENT

(229)

0

Taxesand Other

800

Dividends ERG Wind Acquisition

(252)

1,799

722

(10)47

68

Gebeleisis Acquisition

1,462

1,233

48

(15)55

Appendix

23

1H AND 2Q 2013 RESULTS

Appendix

1H 2013 1H 2012 Euro millions 2Q 2013 2Q 2012

4,763 6,627 Adjusted Revenues 2,469 3,050

293 205 RC EBITDA Adjusted 120 94

150 73 - Renewables 58 32

175 159 - Power & Gas 85 67

(16) (14) - Refining & Marketing (14) 2

(16) (14) - Corporate (9) (8)

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1H 2013 1H 2012 2Q 2013 2Q 2012

1,232 552 Installed capacity (end-period, MW) 1,232 552

of which:

1,062 487 - Italy 1,062 487

64 64 - France 64 64

20 n.a. - Bulgaria(1) 20 n.a.

86 n.a. - Germany 86 n.a.

1,400 630 Electricity Production (GWh) 590 291

of which:

1,231 568 - Italy 516 261

65 61 - France 31 30

27 n.a. - Bulgaria(1) 12 n.a.

76 n.a. - Germany 32 n.a.

148 149 ERG Renew price - Italy (Eu/MWh) 144 145

58 72 Electricity price (Eu/MWh) 54 68

91 77 Green Certificates price (Eu/MWh) 91 77

150 73 RC EBITDA (Eu mn) 58 32

(63) (31) Depreciation (Eu mn) (32) (16)

87 42 RC EBIT (Eu mn) 26 16

RENEWABLES: KEY FIGURES

Appendix(1) Bulgaria: ERG ‘s stake = 50%

25

ISAB ENERGY: KEY FIGURES

Appendix

1H 2013 1H 2012 2Q 2013 2Q 2012

2,109 1,978 Sales (Gwh) 1,037 943

313 302 Sales (€ mn) 152 149

122 113 RC EBITDA (Eu mn) 57 53

97 89 RC EBIT (Eu mn) 45 41

92% 86% Net capacity utilization (%) 90% 81%

115 118 CIP6 tariffs (Eu/MWh) 115 118

79 65 EBITDA IT GAAP (Eu mn) 36 28

26

ERG POWER: KEY FIGURES

Appendix

1H 2013 1H 2012 Euro millions 2Q 2013 2Q 2012

1,314 1,419 Electricity Production (GWh) 592 652

53 46 RC EBITDA 28 14

(14) (13) Depreciation (7) (7)

39 33 RC EBIT 21 7

27

INTEGRATED DOWNSTREAM: KEY FIGURES(1)

Appendix

(1) Figures include 51% stake inTOTALERG and 100% EOS(2) Estimated market share referring to 100% of TOTALERG

1H 2013 1H 2012 Euro millions 2Q 2013 2Q 2012

12 23 Adjusted RC EBITDA 7 16

24 31 - Marketing 15 28

(12) (9) - Inland refining and logistics (8) (12)

(29) (31) Adjusted Depreciation (16) (15)

(18) (8) Adjusted RC EBIT (9) 1

17 15 Investments 11 9

11.3% 11.3% TOTALERG retail market share(2) 11.4% 10.9%

0.9% 1.1% EOS retail market share 0.9% 1.1%

28

COASTAL REFINING: KEY FIGURES(1)

Appendix

(1) Figures are adjusted for ERG’s stake in ISAB Srl (40% from January to August 2012, 20% afterwards)(2) Investments do not include 20% ISAB investments

1H 2013 1H 2012 Euro millions 2Q 2013 2Q 2012

11 44 Gross refining margin (1) 27

(27) (36) Adjusted RC EBITDA (21) (14)

(11) (22) Adjusted Depreciation (6) (11)

(39) (59) Adjusted RC EBIT (27) (26)

0 10 Investments(2) 0 6