ENAV S p A : PRESENTATION FY 2021 RESULTS

2021 Financial Results

April 21, 2022

enav.it

Full Year 2021 Highlights

• • Core business managed with the highest safety standards, despite persisting effects of pandemic

• • Best-in-class operating performance (average minutes of en-route delay per flight) in EU

• • Protective regulation framework, in place: Performance Plan compliance notified by EC to the Italian State

• • Non-regulated revenue double-digit growth despite Covid-19 related restrictions around the world

• • New and more challenging Sustainability plan approved, with implementation already started

• • SBTi validation on ENAV's climate change strategy obtained

• • People first: new post-emergency smart work agreement signed with Unions

• • National Recovery and Resilience Plan (NRRP) agreements signed for a total value of approx. €110m

• • Dividend proposal: €58.5m to be distributed in October 2022 equivalent to 0.1081 euro per share

• • Opex and Capex optimized, in preparation for full traffic recovery at pre-pandemic level

• • Additional funding activated through new loans to cope lower traffic levels due to pandemic

2021 Group's Highlights

1.

Excluding exempt flights not communicated to Eurocontrol (for en-route 2,672 Sus and for terminal 808 SUs)

Top Performance in 2021

En-route Service Units ('000)

YoY change

11,181

Performance Quality Leader in Europe

Average Minutes of En-route Delay per Flight

0.46

3

Actual minutes of en-route ATFM delay per flight	Target minutes of en-route ATFM delay per flight
Source: ENAV based on third party data	2.	Refers to DFS only
1. Refers to continental Spain	3.

Amongst Member States subject to EU Performance Scheme, ENAV:

• • Is the 4th largest Air Navigation Service Provider

•

Shows a better	traffic	recovery in
comparison with	the	major EU
Countries

• • Provides top performance in terms of quality and safety of services

Performance target as per RP3 Performance Plan submitted to EU Commission in November 2021

Sustainability Performance in 2021

ENAV's Sustainability Plan 2021-2023

The Sustainability Plan, based on 6 main Assets, defines a series of actions, based on the United Nations 17 Sustainable Development Goals (SDGs),

on which the ENAV Group will be committed in the period and that pursue the full integration of ESG elements in all Group's activities

Policies

Technological Innovation

Reporting and Communication

Strengthen the non- financial reporting process and the internal and external communication of

ENAV's Sustainability

Strategy

Internal Communication Plan to develop employees'

Sustainability Culture developed and implementation started

Corporate Culture

Climate Change

Total classroom and e-learning training → over 158 thousand hours

Scope 1 and Scope 2 CO2 emission reduction in 2021 vs. 2019 → -24.6%

Free Route Project impact → 152 million kg of CO2 avoided

Result of renewable energy generation → approximately 94 thousands kg of CO2 avoided