Enel S p A : Group begins reorganization of renewable business in Central and South America

Rome - Enel S.p.A. ('Enel') announces that the Board of Directors of its Chilean listed subsidiary Enel Americas S.A. ('Enel Americas') has resolved to commence the process for the approval of a merger, in order to carry out a corporate reorganization of the Enel Group's shareholdings aimed at integrating the non-conventional renewable energy businesses of the Enel Group in Central and South America (except Chile) into Enel Americas.

The transaction, consistent with Enel's strategic objectives, allows for further simplification of the Group corporate structure and aligns Enel Americas' business set-up to the rest of the Group.

The corporate reorganization foresees the integration in Enel Americas of the current non-conventional renewable assets of the Enel Group in Argentina, Brazil, Colombia, Costa Rica, Guatemala, Panama and Peru, through a series of transactions culminating in a merger into Enel Americas. Such merger, resulting in an increase of Enel's stake in Enel Americas, will require the amendment of the by-laws of the latter by the shareholders' meeting to remove the existing limitations whereby a single shareholder may not hold more than 65% of the voting rights. The said shareholders' meeting shall also approve the merger as transaction with related parties in compliance with the applicable laws and regulations.

Enel has expressed to Enel Americas its favorable preliminary opinion on the above reorganization provided that the latter: shall be carried out under market terms and conditions; shall ensure a financial position of Enel Americas that fuels the future development of the renewable business as well as the growth prospects of the company.

Said favorable preliminary opinion is subject to an assessment by Enel of the final terms and conditions to be submitted for approval to the shareholders meeting of Enel Americas.

For the dissemination to the public and the storage of regulated information made available to the public, Enel S.p.A. has decided to use respectively the platforms 'eMarket SDIR' and 'eMarket Storage', both available at the address www.emarketstorage.com and managed by Spafid Connect S.p.A. with registered office in Milan, at Foro Buonaparte, 10. The aforementioned services are authorized by Consob (resolution No.19878 of February 15th, 2017, related to the mechanism for the dissemination to the public of regulated information 'eMarket SDIR' and resolution No. 19879 of February 15th, 2017, related to the mechanism for the central storage of regulated information 'eMarket Storage').

From May 19th 2014 to June 30th 2015, Enel S.p.A. used the authorized mechanism for the storage of regulated information denominated '1Info', available at the address www.1info.it, managed by Computershare S.p.A. with registered office in Milan and authorized by Consob with resolution No. 18852 of April 9th, 2014.

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