Credit rating and debt

Solicited ratings, namely ratings requested by Eni, are provided below.

Ratings do not constitute a recommendation to buy, sell or hold any financial instruments issued by companies of the Eni group. As aforementioned ratings may be subject to amendment, action, suspension or withdrawal, website users are required to verify current long-term and short-term rating and current outlook.

All of the information and figures on this page are correct to December 31, 2022, unless otherwise indicated, and should not be considered as an incentive to buy shares and/or other financial instruments issued by or on behalf of Eni.

Eni entered into long-term borrowing facilities with the European Investment Bank. These borrowing facilities are subject to the retention of a minimum level of credit rating. According to the agreements, should the Company lose the minimum credit rating, new guarantees could be required to be agreed upon with the European Investment Bank. At December 31, 2022, debts subjected to restrictive covenants amounted to €862 million (€899 million at December 31, 2021). Eni was in compliance with those covenants.

Warning to visitors to the site:

All of the information and figures on this page are correct to December 31, 2022, unless otherwise indicated, and should not be considered as an incentive to buy shares and/or other financial instruments issued by or on behalf of Eni.

Euro Medium Term Notes Programme:

Eni has in place a program for the issuance of Euro Medium Term Notes up to €20 billion, of which €15.8 billion were drawn as of December 31, 2022.

The issuers of the EMTN Programme, entirely guaranteed by Eni SpA, are Eni SpA and Eni Finance International SA.

Commercial Paper Programmes:

Eni has in place Commercial Paper Programmes for a maximum total amount of €4 billion, entirely guaranteed by Eni SpA, with Eni SpA and Eni Finance International SA as issuers

As of December 31, 2022, Commercial Papers of € 34 million were issued by the Group’s financial subsidiaries.

Notice for users:

All the information and data contained in these pages refer to the situation as at December 31, 2022, unless otherwise specified and should not be considered as an incentive to buy Eni shares and/or other Eni financial instruments.

The following table provides a breakdown of ordinary bonds by issuing entity, maturity date, interest rate and currency as of December 31, 2022.

As part of the Euro Medium Term Notes program, during 2021 Eni issued a sustainability-linked bond for a nominal amount of €1 billion linked to the achievement of the following sustainability targets: (i) Net Carbon Footprint upstream (GHG emission Scope 1 and 2) equal to or lower than 7.4 million tons of CO2 equivalent by 2024; (ii) renewable energy installed capacity equal to or greater than 5 GW by 2025. If one of the targets is not achieved, a step-up mechanism will be applied, increasing the interest rate.

In February 2023, Eni successfully finalized the placement of its first sustainability-linked bond among the retail public in Italy for a total amount of €2 billion, with orders five times higher than the initially offered amount.

Notice for users:

All the information and data contained in these pages refer to the situation as at December 31, 2022, unless otherwise specified and should not be considered as an incentive to buy Eni shares and/or other Eni financial instruments