Eni SpA Ordinary and Extraordinary Shareholder's Meeting 13 May 2020 Answers to the questions received prior to the Shareholders' Meeting, pursuant to art. 127-ter of Italian Legislative Decree No. 58/1998 Ordinary and Extraordinary Shareholders’ Meeting of Eni SpA held on May 13, 2020 Questions and answers prior to the Shareholders’ Meeting pursuant to Article 127-ter Legislative decree 58/19981 Page Hermes Fund…………………………………………………………………………………………………………………3 Fondazione Finanza Etica………………………………………………………………………………………………..6 Section I on behalf of Greenpeace Italy, Re:Common and Legambiente - Long-Term Strategic Plan to 2050……………………………………………………………………………………………………. 8 - 2020-2023 Action Plan and renewables………………………………………………………………………………………………………..25 - COVID-19 HEALTH EMERGENCY IMPACT………………………………………………………………………………………….35 - New methodology for calculating greenhouse gas emissions ………………………………………………………..36 - Eni Diesel+………………………………………………………………………………………………………………………………………..38 - Decommissioning of offshore platforms…………………………………………………………………………………………….39 - Saipem and offshore wind…………………………………………………………………………………………………………………43 - Country risk assessment…………………………………………………………………………………………………………………..44 - Oil spills in the Pozzo Ragusa 16 area……………………………………………………………………………………………..46 Section II on behalf of the associations A Sud Ecologia e Cooperazione Onlus and by the CDCA - Centro Documentazione Conflitti Ambientali - Annual report at December 31, 2019, Eni for 2018-path to decarbonization, long-term plans technologies and operational aspects………………………………………………………………………………………………….…49 - Gela: Greenstream, Green Refinery, Waste to Fuel, decommissioning plan, extraction wells, Cipolla landfill………………………………………………………………………………………………………………………………………….58 1 The English text is a translation of the Italian. For any conflict or discrepancy between the two texts the Italian text shall prevail. - Nuclear fusion research centre…………………………………………………………………………………………………………65 - Licata…………………………………………………………………………………………………………………………………………………65 - Milazzo………………………………………………………………………………………………………………………………………………67 - Taranto……………………………………………………………………………………………………………………………………………..69 - Val d’Agri…………………………………………………………………………………………………………………………………………..73 Section III on behalf of the whistle-blower Douglas Linares Flinto………………………………………………………………75 Re:Common………………………………………………………………………………………………………………...79 - Nigeria and OPL245…………………………………………………………………………………………………………………………..79 - Republic of the Congo……………………………………………………………………………………………………………………….85 - Mozambique Relocation process…………………………………………………………………………………………………………………….90 Jobs……………………………………………………………………………………………………………………………………………96 Environmental impacts……………………………………………………………………………………………………………..99 Financing………………………………………………………………………………………………………………………………….101 Civil society……………………………………………………………………………………………………………………………..102 Militarisation and security……………………………………………………………………………………………………….103 Government corruption…………………………………………………………………………………………………………..105 Climate change……………………………………………………………………………………………………………………….108 Miscellanea………………………………………………………………………………………………………………………………111 - South Africa offshore exploration……………………………………………………………………………………………………116 - Nigeria NAOC’s sub-contractors and labour issues in Onelga communities…………………………………117 - Basilicata – Val d’Agri…………………………………………………………………………………………………………………… 119 Marco Bava…………..…………………………………………………………………………………………….……..138 Tommaso Marino…..…………………………………………………………………………………………….……..194 D&C Governance Technologies …………………………………………………………………………………….226 Biagio Piccolo…………………………………………………………………………………………………………….236 Shareholder HERMES FUND We make this statement as shareholders and shareholder representatives of ENI and as supporters of the Climate Action 100+, an investor initiative that aims to work with companies to enhance corporate governance of climate change, curb emissions and strengthen climate-related financial disclosures at companies with great opportunities to tackle climate change. To date, over 450 institutional investors with over $40 trillion in assets under management have signed up to support the initiative. We understand the company faces substantial challenges at present with health and economic crises. We do though have interest in the long-term and believe climate change remains one of the largest systemic risks we must manage and that the post covid-19 recovery could be resilient only in a decarbonised economy. EOS at Federated Hermes, UBS Asset Management and other signatories to Climate Action 100+ have encouraged Eni to set a long-term decarbonisation pathway in line with the goals of the Paris Agreement. We therefore welcome the company’s new climate strategy announced earlier this year, which shows significant ambition across all sources of emissions the company can influence. It is an industry leading target in its inclusion of third-party products, end use and interim net zero targets for 2030 and 2040, and a decisive step in the energy transition to a low carbon future. Equally, we welcome the alignment of the executive long-term incentive plan with the decarbonisation strategy and the publication of an assessment of industry associations' climate policy positions. We would like to thank the company for the continued open and constructive dialogue with senior management over the last year. We look forward to continuing to work with Eni, together with other Climate Action 100+ signatories, to review progress in aligning the company strategy and performance with the objectives of the Paris Agreement. Going forward, we are inviting the company to set out in greater detail: 1. The pathway to achieving the targets, its consistency with the Paris Agreement and the use of technological and biological offsets. Answer Please see the answer to the next question. 3 2020 Meeting of Shareholders 2. How the company’s governance, risk management, operating plans and budgets are being guided by the targets and low carbon scenarios. Answer Answer to questions 1 and 2 On February 28, 2020, Eni presented its Long Term Business Plan, which combines the objectives of continuous development in a rapidly evolving energy market with a significant reduction in the Group's carbon footprint, leveraging on know-how, proprietary technologies, innovation as well as on the flexibility and resilience of assets. The Plan defines operational strategies and objectives for 2035 and 2050, which outline the integrated path of the individual businesses and will allow to achieve an 80% reduction in the net emissions relating to the entire life cycle of the energy products sold, which include scope 1, 2 and 3 emissions, (above the 70% threshold indicated by the IEA in the SDS scenario compatible with the objectives of the Paris Agreement) and a 55% reduction in the emission intensity compared to 2018, by 2050. The pace of evolution and the contribution of individual businesses will depend on the market trend, the technological scenario and applicable legislation. The actions that will contribute to achieving these results are: 1. a progressive reduction of hydrocarbon production after 2025 with a growing incidence of gas production; 2. a focus on marketing of equity products and the progressive reduction in the marketing of non-equity gas; 3. conversion of European refineries into plants fuelled by bio or alternative materials, for the production of hydrogen, methanol, bio-ethane and products from recycling of waste materials; 4. implementation of primary and secondary forest conservation projects to offset CO2 emissions equivalent to over 30 million tons per year by 2050; 5. development of CO2 capture and storage projects worth over 10 million tonnes per year by 2050; 6. achieving a capacity for energy production from renewable sources in excess of 55 GW by 2050; 7. expansion of retail activities with the goal of achieving over 20 million supply and distribution contracts for "bio" and renewable products by 2050. At the Shareholders' Meeting, an issue of “Eni For” dedicated to Eni's Decarbonisation process, built on the basis of the Recommendations of the Task Force on Climate-related Financial Disclosures, will be published for the third year in a row. The report will examine in depth the aspects relating to governance, risk management, strategy, metrics and targets used by Eni to 4 2020 Meeting of Shareholders cope with the Carbon Neutrality path in the Long Term. The key elements of all these aspects are also reported in the Annual report, in particular in the consolidated non-financial statement. 3. Could the Board address at the annual meeting how the long-term strategic plan, action plan to 2023 and decarbonisation targets may be affected by the current challenges facing the energy sector? Answer The energy sector, while facing challenges connected to the COVID-19 pandemic, will have to ensure the achievement of the commitments made to move forward the decarbonisation process, seizing opportunities emerging from the energy transition and ensuring the continuity of a highly strategic business, in compliance with the highest safety standards. The energy transition requires a common answer and a long-term vision. Eni wants to play a decisive role in this process, along a path that will lead us to be a carbon neutral company in the long term. Today more than ever, we intend to confirm our commitment in this direction, despite the important new challenges that the COVID-19 pandemic and its profound impacts on the markets have for us. 5 2020 Meeting of Shareholders Shareholder FONDAZIONE