Enagás S A : 1Q2024 Results Presentation

1.1 1Q2024 Highlights

In 2024, the high level of implementation of the axes of the Strategic Plan 2022-2030 continues

Main axes of the 2022-2030 Strategic Plan

1.2 Security of supply and investments

Boosting Enagás' presence in Germany: Hanseatic Energy Hub (Stade)

Taking of FID and increase of Enagás' stake in HEH (Stade) from 10% to 15%

▪ Final investment decision made, financing closed and construction of the first land-based LNG terminal in Germany initiated

• First terminal adapted for green ammonia

• Total planned investment €1.6 Bn (€1.0 Bn LNG plant

construction)

▪ Start of commissioning tests of the floating storage and regasification unit (FSRU)

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1.3 Efficiency plan and cost control: financial and operating

Efficiency Plan

Control of operating expenses

0%

1Q2023 1Q2024

• Intensification of the Efficiency Plan to minimise the impact of inflation on manageable costs
• Enagás maintains its commitment to a maximum annual growth in recurring operating expenses of ~1% CAGR in the period 2022-2026
• Signing of the Collective Bargaining Agreement (2023 - 2026) compatible with the objectives set out in the Strategic Plan

Control of financial expenses

• Sound financial structure and strong liquidity position
  (€3.131 Bn as at March 31, 2024)
• Control of financial expenses, more than 80% of debt at fixed rates.
• Financial cost of gross debt: 2.8%
• Adjusted FFO/ND: above the 14% required by rating agencies
• €600 M bond issue in January 2024 maturing in 2034 with an annual coupon rate of 3.625%

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Next steps:

• April 2024: Presentation of the proposal for the development of the Backbone according to Royal Decree-Law 8/2023 to the Ministry of Ecological
  Transition and Demographic Challenge
• June / July 2024: Final version of the National Integrated Energy and Climate Plan (PNIEC)
• Second half of 2024: Start of transposition of the European Hydrogen and Decarbonised Gas Markets Directive
• April - October 2024: Request for CEF (Connecting Europe Facility) funds for the research and construction of the projects included in the list of PCIs

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1.4 Progress in the energy transition

Draft law for the re-establishment of the National Energy Commission (CNE)

The main goal of the draft law is the decarbonisation of the Spanish economy

New functions of the future CNE for the regulation of the hydrogen sector:

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1.4 Progress in the energy transition

Publication of the final list of PCIs

H2Med and the Spanish Hydrogen Backbone Network, included in the final European list of PCIs

• On April 8, 2024, the European Commission published the list of PCIs in the Official Journal of the European Union.
• Major step forward in boosting the development of hydrogen infrastructures.
• Allows for the application for CFE-E funds for studies and construction of projects included in the list of PCIs.

Investments included in the final list of PCIs:

1.4 Progress in the energy transition

Enagás H2 Technical Day

• Enagás launches the Hydrogen Technology Observatory to promote the technical advancement of renewable hydrogen
• The Observatory will promote the technical advance of renewable hydrogen on a large scale

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