Eni successfully placed two Euro-denominated hybrid bonds

San Donato Milanese (Milan), 4 May 2021 – Eni S.p.A. (“Eni” or the “Company”) has successfully launched today two Euro-denominated perpetual subordinated hybrid bond issues for an aggregate nominal amount of Euro 2 billion (the “Hybrid Bond Transaction”). The hybrid bonds, bought by institutional investors, were placed in the international Eurobond market, with total orders of more than Euro 7 billion, mainly in United Kingdom, France, Germany and Italy.

The key characteristics of the two bonds are:

• Euro 1 billion perpetual 6-year subordinated non-call hybrid notes issue (the "6-Year Non-Call Hybrid Notes") with a re-offer price of 100% and an annual fixed coupon of 2.000% until the first reset date of May 11^th, 2027. As from such date, unless it has been redeemed in whole on or before the first reset date, which is the last day for the first optional redemption, the 6-Year Non-Call Hybrid Notes will bear interest per annum determined according to the relevant 5-year Euro Mid Swap rate plus an initial spread of 220.4 basis points, increased by an additional 25 basis points as from May 11^th, 2032 and a subsequent increase of additional 75 basis points as from May 11^th, 2047.
• Euro 1 billion perpetual 9-year subordinated non-call hybrid notes issue (the "9-Year Non-Call Hybrid Notes") with a re-offer price of 99.607% and an annual fixed coupon of 2.750%_^[1] until the first reset date of May 11^th, 2030. As from such date, unless it has been redeemed in whole on or before the first reset date, which is the last day for the first optional redemption, the 9-Year Non-Call Hybrid Notes will bear interest per annum determined according to the relevant 5-year Euro Mid Swap rate plus an initial spread of 277.1 basis points, increased by additional 25 basis points as from May 11^th, 2035 and a subsequent increase of additional 75 basis points as from May 11^th, 2050.

The scheduled settlement date for the hybrid bonds is May 11^th, 2021. The hybrid bonds are governed by English law and will be traded on the regulated market of the Luxembourg Stock Exchange.

_{[1] Corresponding to an annual yield of 2.800%}.

_{The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness. The information in this announcement is subject to change.}

_{This announcement is not for distribution, directly or indirectly, in or into the United States (including its territories and possessions, any State of the United States and the District of Columbia) or for the account or benefit of any U.S. Person as that term is defined in the Securities Act as defined below (a "U.S. Person"), Australia, Canada, Japan or South Africa or any other jurisdiction where such an offer or solicitation would require the approval of local authorities or otherwise be unlawful (the "Other Countries"). This announcement is not an offer or solicitation to purchase or subscribe for securities in the United States, Australia, Canada, Japan, South Africa or in the Other Countries. The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or pursuant to the corresponding regulations in force in Australia, Canada, Japan, South Africa or the Other Countries and may not be offered or sold in the United States or to a U.S. Person absent registration with the United States Securities and Exchange Commission or an exemption from registration under the Securities Act. Eni does not intend to register any part of the securities in the United States or to conduct a public offering of securities in the United States, Australia, Canada, Japan or in the Other Countries.}

_{In any Member State of the European Economic Area ("EEA"), this announcement is only directed at and may only be communicated to persons who are "qualified investors" within the meaning of Article 2(1)(e) of EU Directive 2003/71/EC (the "Prospectus Directive"), as modified by EU Directive 2010/73/EU, in each case as implemented in the relevant jurisdiction ("Qualified Investors").}

_{This announcement is directed only at persons (i) who are persons falling within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations etc.") of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (ii) who have professional experience in matters relating to investments falling within Article 19(5) of the Order or (iii) to whom it may otherwise lawfully be communicated (all such persons together being referred to as "relevant persons").}

_{Any investment or investment activity to which this communication relates is only available to relevant persons and will be engaged in only with relevant persons, or in the EEA, with Qualified Investors. Any person who is not a relevant person, a Qualified Investor or otherwise permitted under applicable law or regulation to access this announcement, should not act or rely on this communication.}

_{MiFID II professionals/ECPs-only / No PRIIPs KID – Manufacturer target market (MIFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) has been prepared as not available to retail in EEA.}