REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Approval of the first tranche of the provision in place of 2026 dividend: € 0.27 per share

San Donato Milanese, 28 July 2026 – Eni’s Board of Directors, chaired by Giuseppina Di Foggia, today resolved to distribute to Shareholders the first of the four tranches of the provision in place of the 2026 dividend¹ from Eni S.p.A. available reserves of € 0.27 (compared to a total annual provision, in place of the dividend, equal to € 1.1) per share outstanding at the ex-dividend date as of 21 September 2026², payable on 23 September 2026³, as resolved by the Shareholders’ Meeting of 6 May 2026.

Holders of ADRs, outstanding at the record date of 22 September 2026, will receive € 0.54 per ADR, payable on 7 October 2026⁴, with each ADR listed on the New York Stock Exchange representing two Eni shares.

Freephone for shareholders (from Italy): 800940924
Freephone for shareholders (from abroad): +39.800 11 22 34 56

As a result of strong execution and the market environment, Eni raises guidance on 2026 production to around 5% underlying growth and increases its distribution policy to €3.4 bln of share buyback.

San Donato Milanese, July 29, 2026 - Eni's Board of Directors, chaired by Giuseppina Di Foggia, yesterday approved the consolidated results for the second quarter and first half of 2026. Eni CEO Claudio Descalzi said:

“Our focus on executing our strategy has driven excellent results in 2Q ’26 underpinned by our diversified portfolio that provides us a wide range of options and a perspective of profitable growth across different businesses of the energy mix. The Group’s results reflect our robust industrial and financial performance, significantly outperforming the commodity market. We are successfully scaling our E&P business for the next phase of growth and value creation thanks to the start of the Searah JV across Indonesia and Malaysia, which will monetize our large gas discoveries in the Kutei Basin, as well as several project advancements and expansion in new geographies. The strength of this business and our world-class E&P capabilities have driven an outstanding 11% of underlying production growth. The Transition businesses have been steadily improving their contribution to the Group results while fueling their self-funded growth. Plenitude is on track to reach 6.5 GW of installed capacity at year-end and can already leverage a customer base of around 11 million clients to drive value. Enilive is bringing online new capacity to take advantage of rapidly raising biofuels demand and was able to capture the full upside of a strong market. As the results achieved so far in 2026 demonstrate, we are a fundamentally stronger company year after year thanks to the quality of our portfolio: it is geographically diversified, grounded in advantaged assets, with exploration competence and transition exposure, as well as optionality for early monetization, supporting dependable cash generation for years to come. It will enable us to continue returning significant capital to shareholders with material upside participation in high scenarios, while retaining a robust balance sheet as highlighted by a proforma gearing at a historic low of 10%. As a consequence of these excellent results, we are raising our distribution policy by further €600 mln, to €3.4 bln of share buyback.”

(a) Non-GAAP measures. For further information see the paragraph "Non-GAAP measures" on pages 18 and subsequent.

(b) The main JV/associates are listed in the "Reconciliation of Group proforma adjusted EBIT" on page 22.

(d) Net of expenditures relating to business combinations, purchase of minority interests and other non-organic items, also excludes the share of capex of sanctioned joint operators funded by Eni.

Strategic and financial highlights

E&P result reflects advantaged barrels and cost discipline, with exploration and project maturation underpinning growth outlook

Underlying production, net of price effects, grew by a robust 11% y-o-y to 1.79 mln boe/d, close to flat q-o-q, driven by new project ramp-ups in West Africa, the GoA, Norway and Indonesia. FY production growth rate to around 5%.

Established Searah JV with Petronas, a regional leader in Southeast Asia’s LNG market. Searah is immediately accretive to Eni’s 2Q cash flow and production. The JV will support the development of Eni’s material discoveries in the Kutei Basin, delivering highly attractive, and valuable, production growth into the 2030s.

Agreed to acquire interests in upstream assets in Argentina to supply the floating LNG production development.

Reached the final investment decision for Phase 3 of the core Baleine field, off Côte d’Ivoire, for the Greater PAJ block off Angola, operated by the Azule Energy JV and for the Cronos gas project off Cyprus.

Farmed into an unexplored block in the Republic of the Gambia, marking Eni’s entry into this new geography.

Transition businesses fully on track to meet or exceed annual profitability and growth targets

Enilive and Plenitude delivered adjusted EBITDA of €1.1 bln in the first half ’26.

Activities are progressing for the deconsolidation of Plenitude in 3Q ’26, with Eni still retaining a 65% stake, thus providing the entity with a more efficient capital structure to pursue growth plans.

Enilive signed an agreement to acquire from Prax a network of 320 service stations branded OIL!, strengthening its presence in the mobility retail business in key European markets.

Secured financing for the CCUS business from a pool of international lenders.

New business developments to further strengthen the portfolio

The agreement with Mercuria to establish a global trading JV will maximize value across the commodity supply chain by integrating the optimization of the physical asset portfolio with advanced trading capabilities and expertise.

Entered the critical minerals value chain through direct investments in initiatives in Canada and Chile, supporting Eni’s ongoing plans to strengthen its transition businesses.

Established a JV with the United Kingdom Atomic Energy Authority to offer specialized services for the fuel cycle, which will be a factor in the operation of fusion power plants at industrial scale.

Managing portfolio optionality to accelerate cash generation and growth

Reached a long-term partnership agreement concerning an upstream portfolio based on infrastructure. Eni entered into a partnership agreement with AC Europe II SCSp (an entity managed by Ares Credit Management LLC), in exchange for a $2 bln capital contribution to be cashed-in the third quarter. AC Europe II SCSp obtained binding commitment letters from funds managed by Ares Alternative Credit Asset Management and from Pacific Investment Management Company LLC - PIMCO in line with market practice for an aggregate amount equal to the investment to be made by it.

Near completion of the divestment of a 10% interest in the Baleine oilfield.

Expected to monetize a retained 10% equity stake in the Kutei blocks through a separate portfolio transaction in 2026.

Fast-tracking the reconversion of the main chemical hubs to transition businesses

Set up a Special Purpose Vehicle to build a biorefinery at the Priolo complex, which will be complemented by a post-consumer chemical plastics recycling plant based on proprietary recycling technology.

Construction work began at our Brindisi hub, on a manufacturing facility for lithium-iron-phosphate batteries for primary use in stationary electricity storage systems supporting renewable generation.

Excellent 2Q financial results driven by volume growth, cost management and a supportive pricing environment, with proforma gearing at the low end of our guided range of 10-15% and €1.35 bln of cash returns to shareholders.

2Q ‘26 Group’s proforma adjusted EBIT was €5.38 bln, doubling y-o-y (up 52% on a sequential basis) due to strong performance at E&P, GGP and the Transition satellites. Also adjusted net profit more than doubled to €2.3 bln.

E&P reported €4.77 bln of proforma adjusted EBIT (up 42% and 97% respectively vs. 1Q’ 26 and y-o-y) driven by favorable volume/mix effects, cost discipline and better oil realizations, despite exchange rate trend.

GGP and Power reported €0.50 bln of proforma adjusted EBIT, with GGP at €0.47 bln up 46% y-o-y due to continued asset portfolio optimization and specific benefits relating to renegotiations and settlements.

Enilive more than doubled its proforma adjusted EBIT to €0.29 bln, driven by the biorefining business, which benefited also from an improved market scenario. Plenitude reported €0.23 bln of proforma adjusted EBIT, up 70% y-o-y, driven by volume growth in the renewables and the halting of depreciation pending the proposed deconsolidation transaction.

The Refining business reported positive proforma adjusted EBIT of €0.08 bln, reversing the year-ago loss due to an improved refining margin scenario, partly capped by higher shipping cost and narrowing differentials between heavy/sour vs light/sweet crudes, which penalized margins at complex cycles. Versalis’ chemicals business began to show progress thanks to ongoing restructuring measures and last year’s plant closures, with the loss cut by 65% to around €0.07 bln, also on the back of temporary supply disruptions supporting commodity plastics margins.

2Q ’26 Group’s adjusted CFFO before working capital was €4.47 bln, funding organic capex of €1.84 bln. Cash returns to shareholders were €1.35 bln, comprising the final tranche of the ‘25 dividend (€0.79 bln) and start of the ‘26 buyback program (€0.56 bln). Net debt was €11.3 bln at end 2Q ‘26, with proforma gearing at 10%, at the low end of the 10%-15% target range.

Eni is raising guidance for business performance and cash flow generation, which translates into an increased buyback programme thus granting material upside participation for shareholders

As a result of the Company’s improved outlook, we are raising cash distributions to shareholders:

¹ Group’s sensitivities are confirmed as follows: €0.11 bln and €0.08 bln per each one-dollar change in the Brent price and SERM margin respectively; €0.03 bln for each one-euro per MWh change in the spot price of European gas.

(a) In the second quarter 2026 and in the first half 2026, it includes 78 kboe/d, respectively, of production related to certain sanctioned joint-venture partners.

For the disclosure on business segment special charges, see “Special items” in the Group results section.

(a) Given volatility and market dislocations, the benchmark SERM refining margin has been calculated to factor such conditions. The margin for Q1 ’26 has been revised accordingly.

(a) Due to the shutdown of the gasoline production unit in the first half 2026, the Livorno hub, currenty being upgraded to a biorefinery, has been reclassified to the segment “Sites in transformation” effective 1 January 2026 with the adjustment of the Q1 result.

For the disclosure on business segment special charges, see “Special items” in the Group results section.

The main developments of the Group strategy aimed at improving Eni’s ESG performance and building longer-term opportunities in the energy market have been:

In IH ’26, net cash provided by operating activities was €5,697 mln and included €868 mln of dividends received by Eni’s equity-accounted investments. The amount of trade receivables discounted as part of non-recourse arrangements with financing institutions was ca. €0.2 bln higher than in the Q4 ‘25 as part of the Group initiatives to optimize working capital requirements.

Adjusted net cash before changes in working capital at replacement cost was €7,347 mln in IH ’26 (€4,469 mln in the Q2 ’26) and is net of the following items:

A reconciliation of adjusted net cash before changes in working capital at replacement cost to net cash provided by operating activities is provided below:

In IH ’26 organic capex was €3.7 bln (down 5% y-o-y) and excluded the share of capex that was reimbursed or is expected to be reimbursed upon closing of ongoing asset disposals, which have been used to net disposals of the period or reclassified in other cash flows related to investing activities. Organic capex also excluded the share of capex pertaining to sanctioned joint operators, which was funded by Eni.

Net borrowings before lease liabilities ex IFRS 16 increased by around €1.74 bln in the first half of 2026. The main inflows comprised the adjusted operating cash flow (€7.35 bln) and the issuance of a hybrid bond (€0.99 bln) which were utilized to fund cash outflows related to organic capex (€3.71 bln), working capital needs (€1.52 bln), dividend payments to Eni’s shareholders and share repurchases of €2.53 bln (dividend payments of €1.6 bln and share repurchases of €0.9 bln), acquisition of consolidated subsidiaries and other portfolio activities (€1 bln) and repayment of lease liabilities and hybrid bond interest (€0.85 bln).

Eni, following the authorization granted by the Shareholders' Meeting held on May 6, 2026, started a new share buyback program, to be executed through April 2027. As of July 17, 2026, around 39 mln shares have been purchased, for a cash outlay of €860 mln.

As of June 30, 2026, fixed assets (€76.1 bln) decreased by approximately €1 bln from December 31, 2025, mainly due to the reclassification of Plenitude as discontinued operations in connection with the proposed new shareholding setup which will trigger the demerger. This movement was partly offset by the net effect of the initial recognition of the investment in the new JV Searah, exceeding the book values of the assets contributed to the venture in exchange of a 50% participating interest. Capital expenditure for the period was offset by DD&A. Positive exchange rate translation differences (the period-end exchange rate of EUR vs. USD was 1.139 down by 3% compared to 1.176 as of December 31, 2025) increased the euro reported amounts of dollar-denominated assets for €1.7 bln.

Net working capital amount was €13.7 bln. Higher inventory book value because of the weighted average cost of supplies in an environment of rising commodity prices and provisions payment were only partially offset by higher trading payables.

Discontinued operations/asset held for sale included Plenitude (€9.6 bln) and other held-for-sale E&P properties (€2.2 bln).

Due to termination of the planned disposal process, the 25% interest in Congo LNG project previously stated as held-for-sale, has been reclassified among continuing operations. In doing so, the asset has been restated at its current net book value, thus recognizing a net revaluation gain of ca. €0.29 bln.

Eni’s shareholders equity (€52 bln) increased by €4.1 bln from December 31, 2025, mainly due to net profit for the period (€4.4 bln) and positive foreign currency translation differences (€1.5 bln), partly offset by shareholders remuneration of approximately €2.4 bln (dividends and share buyback).

Non-controlling interests of €4.9 bln included: i) a minority participating interest acquired by the private equity fund KKR in the share capital of Enilive (€0.8 bln) as well as the EIP and Ares fund’s interest in Plenitude of €1.9 bln; ii) a perpetual subordinated hybrid bond (€1.7 bln) issued by a Group subsidiary in 2024, classified as equity since the Group retains an unconditional right to avoid transferring cash or other financial assets to the bondholders.

Net borrowings² before lease liabilities as of June 30, 2026 of €11.3 bln were up by approximately €1.7 bln from December 31, 2025.

Gearing³ - the ratio of net borrowings to net capital employed before lease liabilities - was 17% on June 30, 2026. Considering the portfolio transactions underway, the Group proforma gearing stands at 10%.

The breakdown of pre-tax special items recorded in operating profit by segment (net charges of €2,448 mln and €1,769 mln in IH ’26 and Q2 ’26, respectively) is as follows:

³ Non-GAAP financial measures and other alternative performance indicators disclosed throughout this press release are accompanied by explanatory notes and tables in line with guidance provided by ESMA guidelines on alternative performance measures (ESMA/2015/1415), published on October 5, 2015. For further information, see the section “Non-GAAP measures” of this press release. See pages 18 and subsequent.

This press release on Eni’s unaudited results for the second quarter and the first half of 2026 has been prepared on a voluntary basis according to article 82-ter, Regulations on issuers (CONSOB Regulation No. 11971 of May 14, 1999, and subsequent amendments and inclusions). The disclosure of results and business trends on a quarterly basis is consistent with Eni’s policy to provide the market and investors with regular information about the Company’s financial and industrial performances and business prospects considering the reporting policy followed by oil&gas peers who are communicating results on quarterly basis.

Results and cash flow are presented for the first and second quarter of 2026, the first half of 2026 and for the second quarter and the first half of 2025. Information on the Company’s financial position relates to end of the periods as of June 30, 2026 and December 31, 2025.

Accounts set forth herein have been prepared in accordance with the evaluation and recognition criteria set by the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB) and adopted by the European Commission according to the procedure set forth in Article 6 of the European Regulation (CE) No. 1606/2002 of the European Parliament and European Council of July 19, 2002.

These criteria are unchanged from the 2025 Annual Report on Form 20-F filed with the US SEC on March 23, 2026, which investors are urged to read.

The Annual Report on Form 20-F 2025 is published on Eni’s website (eni.com) in the “Publications” section.

Shareholders can request a hard copy of Eni’s Annual Report on Form 20-F 2025, free of charge, by emailing a request to segreteriasocietaria.azionisti@eni.com or to investor.relations@eni.com.

The interim consolidated financial report as at June 30, 2026 prepared in accordance with Italian listing standards, subject to a limited review by the external auditors is due to be published in the first week of August.

Following Eni’s Board of Directors decision to reorganize the shareholding structure of Eni’s subsidiary Plenitude with a view to derecognizing the subsidiary and its controlled entities, from 1Q 2026, Plenitude has been accounted for as discontinued operation ex IFRS 5 in the Group consolidated statutory accounts because it represents a major business line. This means that Plenitude results after elimination of intercompany transactions are condensed in a single item of the Group statutory consolidated profit and loss account and reported separately from the results of continuing operations. Since intercompany eliminations continue to work due to the fact that Plenitude remains fully consolidated as of June 30, 2026, results of both continuing and discontinued operations are not necessarily representative of results as standalone entities. Same considerations apply to the preparation of the Group statement of cash flows. Comparative periods have been represented accordingly. In the statement of financial position, the accounting of Plenitude does not differ from that of held-for-sale assets. The discontinued results of Plenitude and its controlled entities are assuming that DD&A charges no longer accrue from the month of March 2026 onwards.

Non-GAAP financial measures throughout this press release relating to Plenitude represent the entity on a standalone basis in line with prior periods segment information. For a representation of Plenitude as a discontinued operation see the “Profit and loss account” on page 26.

Non-GAAP financial measures and other alternative performance indicators disclosed throughout this press release are accompanied by explanatory notes and tables in line with guidance provided by ESMA guidelines on alternative performance measures (ESMA/2015/1415), published on October 5, 2015. For further information, see the section “Alternative performance measures (Non-GAAP measures)” of this press release.

The manager responsible for the preparation of the Company’s financial reports, Francesco Esposito, declares pursuant to rule 154-bis paragraph 2 of Legislative Decree No. 58/1998 that data and information disclosed in this press release correspond to the Company’s evidence and accounting books and records.

This press release contains certain forward-looking statements particularly those regarding capital expenditure, development and management of oil and gas resources, dividends, share repurchases, allocation of future cash flow from operations, future operating performance, gearing, targets of production and sales growth, new markets and the progress and timing of projects. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that will or may occur in the future. Actual results may differ from those expressed in such statements, depending on a variety of factors, including the impact of the pandemic disease, the timing of bringing new fields on stream; management’s ability in carrying out industrial plans and in succeeding in commercial transactions; future levels of industry product supply; demand and pricing; operational issues; general economic conditions; political stability and economic growth in relevant areas of the world; changes in laws and governmental regulations; development and use of new technology; changes in public expectations and other changes in business conditions; the actions of competitors and other factors discussed elsewhere in this document. Due to the seasonality in demand for natural gas and certain refined products and the changes in a number of external factors affecting Eni’s operations, such as prices and margins of hydrocarbons and refined products, Eni’s results from operations and changes in net borrowings for the quarter of the year cannot be extrapolated on an annual basis.

This press release for the second quarter and first half of 2026 results (not subject to audit) is also available on Eni’s website eni.com.

Management evaluates underlying business performance on the basis of Non-GAAP financial measures, which are not provided by IFRS (“Alternative performance measures”), such as adjusted operating profit, adjusted net profit, which are arrived at by excluding from reported results certain gains and losses, defined special items, which include, among others, asset impairments, including impairments of deferred tax assets, gains on disposals, risk provisions, restructuring charges, the accounting effect of fair-valued derivatives used to hedge exposure to the commodity, exchange rate and interest rate risks, which lack the formal criteria to be accounted as hedges, and analogously evaluation effects of assets and liabilities utilized in a relation of natural hedge of the above mentioned market risks. Furthermore, in determining the business segments’ adjusted results, finance charges on finance debt and interest income are excluded (see below). In determining adjusted results, inventory holding gains or losses are excluded from base business performance, which is the difference between the cost of sales of the volumes sold in the period based on the cost of supplies of the same period and the cost of sales of the volumes sold calculated using the weighted average cost method of inventory accounting as required by IFRS, except in those business segments where inventories are utilized as a lever to optimize margins. Finally, the same special charges/gains are excluded from the Eni’s share of results at JVs and other equity accounted entities, including any profit/loss on inventory holding.

Management is disclosing Non-GAAP measures of performance to facilitate a comparison of base business performance across periods, and to allow financial analysts to evaluate Eni’s trading performance on the basis of their forecasting models.

Non-GAAP financial measures should be read together with information determined by applying IFRS and do not stand in for them. Other companies may adopt different methodologies to determine Non-GAAP measures.

Follows the description of the main alternative performance measures adopted by Eni. The measures reported below refer to the performance of the reporting periods disclosed in this press release:

Adjusted operating profit and adjusted net profit are determined by excluding inventory holding gains or losses, special items and, in determining the business segments’ adjusted results, finance charges on finance debt and interest income. The adjusted operating profit of each business segment reports gains and losses on derivative financial instruments entered into to manage exposure to movements in foreign currency exchange rates, which impact industrial margins and translation of commercial payables and receivables. Accordingly, also currency translation effects recorded through profit and loss are reported within business segments’ adjusted operating profit. The taxation effect of the items excluded from adjusted operating or net profit is determined based on the specific rate of taxes applicable to each of them.

Finance charges or income related to net borrowings excluded from the adjusted net profit of business segments are comprised of interest charges on finance debt and interest income earned on cash and cash equivalents not related to operations. Therefore, the adjusted net profit of business segments includes finance charges or income deriving from certain segment operated assets, i.e., interest income on certain receivable financing and securities related to operations and finance charge pertaining to the accretion of certain provisions recorded on a discounted basis (as in the case of the asset retirement obligations in the Exploration & Production segment).

This is the difference between the cost of sales of the volumes sold in the period based on the cost of supplies of the same period and the cost of sales of the volumes sold calculated using the weighted average cost method of inventory accounting as required by IFRS.

These include certain significant income or charges pertaining to either: (i) infrequent or unusual events and transactions, being identified as non-recurring items under such circumstances; (ii) certain events or transactions which are not considered to be representative of the ordinary course of business, as in the case of environmental provisions, restructuring charges, asset impairments or write ups and gains or losses on divestments even though they occurred in past periods or are likely to occur in future ones. Exchange rate differences and derivatives relating to industrial activities and commercial payables and receivables, particularly exchange rate derivatives to manage commodity pricing formulas which are quoted in a currency other than the functional currency are reclassified in operating profit with a corresponding adjustment to net finance charges, notwithstanding the handling of foreign currency exchange risks is made centrally by netting off naturally-occurring opposite positions and then dealing with any residual risk exposure in the derivative market. Finally, special items include the accounting effects of fair-valued commodity derivatives relating to commercial exposures, in addition to those which lack the criteria to be designed as hedges, also those which are not eligible for the own use exemption, including the ineffective portion of cash flow hedges, as well as the accounting effects of settled commodity and exchange rates derivatives whenever it is deemed that the underlying transaction is expected to occur in future reporting periods.

Correspondently, special charges/gains also include the evaluation effects relating to assets/liabilities utilized in a natural hedge relation to offset a market risk, as in the case of accrued currency differences at finance debt denominated in a currency other than the reporting currency, where the cash outflows for the reimbursement are matched by highly probable cash inflows in the same currency. The deferral of both the unrealized portion of fair-valued commodity and other derivatives and evaluation effects are reversed to future reporting periods when the underlying transaction occurs.

As provided for in Decision No. 15519 of July 27, 2006 of the Italian market regulator (CONSOB), non-recurring material income or charges are to be clearly reported in the management’s discussion and financial tables.

Gearing is calculated as the ratio between net borrowings and capital employed net and measures how much of capital employed net is financed recurring to third-party funding. Gearing ex-IFRS 16 is calculated by excluding lease liabilities and right-of-use assets from numerator and denominator, respectively. On a proforma basis gearing is calculated net of portfolio transactions.

Cash flow from operations before changes in working capital at replacement cost (Adjusted net cash before changes in working capital at replacement cost)

This is defined as net cash provided from operating activities before changes in working capital at replacement cost. It also excludes certain non-recurring charges such as extraordinary credit allowances and, considering the high market volatility, changes in the fair value of commodity derivatives lacking the formal criteria to be designed as hedges, including derivatives which were not eligible for the own use exemption, the ineffective portion of cash flow hedges, as well as the effects of certain settled commodity derivatives whenever it is deemed that the underlying transaction is expected to occur in future reporting periods.

Free cash flow represents the link existing between changes in cash and cash equivalents (deriving from the statutory cash flows statement) and in net borrowings (deriving from the summarized cash flow statement) that occurred from the beginning of the period to the end of period. Free cash flow is the cash in excess of capital expenditure needs. Starting from free cash flow it is possible to determine either: (i) changes in cash and cash equivalents for the period by adding/deducting cash flows relating to financing debts/receivables (issuance/repayment of debt and receivables related to financing activities), shareholders’ equity (dividends paid, net repurchase of own shares, capital issuance) and the effect of changes in consolidation and of exchange rate differences; (ii) changes in net borrowings for the period by adding/deducting cash flows relating to shareholders’ equity and the effect of changes in consolidation and of exchange rate differences.

Net borrowings is calculated as total finance debt less cash, cash equivalents, financial assets measured at fair value through profit or loss and financing receivables held for non-operating purposes. Financial activities are qualified as “not related to operations” when these are not strictly related to the business operations.

Is the measure adding the operating margin of the equity accounted entities to the adjusted EBIT, introduced by the management to reflect the increasing contribution from the JV/associates also in connection with the Eni satellite model.

Reconciliation tables of Non-GAAP results to the most comparable measures of financial performance determined in accordance to GAAPs

(a) Main JV/Associates are Vår Energi, Azule Energy, Ithaca, Searah, Mozambique Rovuma Venture, Neptune Algeria, SeaCorridor, Adnoc R&GT and St. Bernard Renewables Llc.


	2026	Q1
(€ million)		Reported results	Profit on stock	Special items	Finance expense reclassified	Adjusted results

Operating profit		2,173	(434)	556	123	2,418
Finance income (expense)		(188)		(3)	(123)	(314)
Income (expense) from investments		326		(52)		274
Income taxes		(1,032)	134	(105)		(1,003)
Net profit		1,279	(300)	396		1,375
- Non-controlling interest		208	(22)	(113)		73
Net profit attributable to Eni's shareholders		1,071	(278)	509		1,302

Gearing is a measure used by management to assess the Company’s level of indebtedness. It is calculated as the ratio between net borrowings and capital employed net and measures how much capital employed net is financed recurring to third-party funding. Management periodically reviews gearing in order to assess the soundness and efficiency of the Group balance sheet in terms of optimal mix between net borrowings and net capital employed, and to carry out benchmark analysis with industry standards.

Discontinued operations related to Plenitude and its subsidiaries. Results of continued and discontinued did not reflect entities’ standalone results, because intercompany eliminations were still applied since Plenitude is fully consolidated as of June 30, 2026. Particularly, the continuing operations are supplying Plenitude with significant volumes of gas and this intercompany transaction was eliminated thus reducing results of the selling segment and correspondingly increasing the one of the buying segment.

(a) Expenditures to purchase plant and equipment from suppliers whose payment terms matched classification as financing payables, have been recognized among other changes of the reclassified cash flow statements and are not reported in the table above (€289 mln and €327 mln in the second quarter 2026 and 2025, respectively, €561 mln and €753 mln in the first half 2026 and the first half 2025, respectively and €272 mln in the first quarter 2026).

In the IH ’26, capital expenditure amounted to €4,008 mln (€3,773 mln in the IH ’25) increasing by 6% y-o-y, in particular:

• in the Exploration & Production, capital expenditure (€3,141 mln) was mainly related to oil&gas development activities in particular in Libya, Congo, Egypt, Indonesia, Italy, the United Arab Emirates, Algeria and Iraq;

• in the Transition Businesses segment, Plenitude’s capital expenditure (€219 mln) related to development activities in the renewable business, acquisition of new customers, as well as development of electric vehicles network infrastructure, while Enilive capital expenditure (€119 mln) mainly related to biorefining projects (Venice Ecofining^TM and Gela catalysts) and marketing activity in Italy and in the rest of Europe;

• in the Refining, Chemicals and Sites in transformation segment mainly related to refining in Italy (€384 mln) specifically to the reconversion of Livorno in biorefinery, maintenance and stay-in-business, as well as to the chemical business (€44 mln) and regarded the circular economy and asset integrity;

• in the Corporate and other activities mainly related to the CCUS and agri-business projects (€13 mln).

(b) Includes volumes of hydrocarbons consumed in operation (150 and 133 kboe/d in the second quarter of 2026 and 2025, respectively, 160 and 132 kboe/d in the first half of 2026 and 2025, respectively, and 170 kboe/d in the first quarter of 2026).

(c) In the second quarter 2026 and in the first half 2026, it includes 78 kboe/d, respectively, of production related to certain sanctioned joint-venture partners.

(d) From 2026, Eni has discontinued reporting data on production/reserves for Kazakhstan because this Country has represented less than 15% of Eni’s total proved reserves for three years in a row, with 15% being the US SEC threshold for single country disclosures, due to growth in other areas. Kazakhstan data have been aggregated in the geographic area “Asia”.

			Eni S.p.A.
			(Registrant)

Date:	July 29, 2026	By:	/s/ Giulia Saba
			(Signature)
		Name:	Giulia Saba
		Title:	Head of Company Secretariat

Q1			Q2			IH
2026			2026	2025	% Ch.	2026	2025	% Ch.
1,798	Hydrocarbon production	kboe/d	1,789	1,668	7	1,793	1,658	8
5.9	Installed capacity from renewables at period end	GW	6.0	4.5	33	6.0	4.5	33
3,536	Proforma adjusted EBIT ^(a)	€ million	5,375	2,681	100	8,911	6,362	40
2,418	subsidiaries		3,516	1,889	86	5,934	4,489	32
1,118	main JV/Associates ^(b)		1,859	792	135	2,977	1,873	59
	Proforma adjusted EBIT (by segment) ^(a)
3,357	E&P		4,769	2,422	97	8,126	5,730	42
327	Global Gas & LNG Portfolio (GGP) and Power		503	387	30	830	860	(3)
351	Transition Businesses		521	262	99	872	598	46
(260)	Refining, Chemicals and Sites in transformation		(40)	(193)	79	(300)	(527)	43
(239)	Corporate, other activities and consolidation adjustments		(378)	(197)		(617)	(299)
2,378	Adjusted net profit before taxes ^(a)		3,857	2,200	75	6,235	4,949	26
1,302	Adjusted net profit (loss) ^(a)(c)		2,333	1,134	106	3,635	2,546	43
1,071	Net profit (loss) ^(c)		3,319	543	511	4,390	1,715	156
2,878	Cash flow from operations before changes in working capital at replacement cost ^(a)		4,469	2,775	61	7,347	6,189	19
1,427	Net cash from operations		4,270	3,517	21	5,697	5,902	(3)
1,872	Organic capital expenditure ^(d)		1,838	2,029	(9)	3,710	3,914	(5)
10,848	Net borrowings before lease liabilities ex IFRS 16		11,271	10,198	11	11,271	10,198	11
54,291	Shareholders' equity including non-controlling interest		56,930	53,405	7	56,930	53,405	7
15	Proforma gearing before lease liabilities ex IFRS 16 ^(a)	(%)	10			10

Q1			Q2			IH
2026			2026	2025	% Ch.	2026	2025	% Ch.
80.61	Brent dated	$/bbl	104.52	67.82	54	92.57	71.74	29
1.170	Average EUR/USD exchange rate		1.163	1.134	3	1.167	1.093	7
1,798	Hydrocarbons production^(a)	kboe/d	1,789	1,668	7	1,793	1,658	8
862	Liquids	kbbl/d	832	825	1	847	805	5
4,893	Natural gas	mmcf/d	5,006	4,415	14	4,950	4,458	11
55.68	Average realizations ^(b)	$/boe	69.79	50.81	37	62.57	52.99	18
72.79	Liquids	$/bbl	96.50	62.77	54	84.16	66.17	27
7.28	Natural gas	$/kcf	8.42	7.14	18	7.85	7.36	7

Q1			Q2			IH
2026		(€ million)	2026	2025	% Ch.	2026	2025	% Ch.
4,950	Upstream turnover		5,861	4,701	25	10,811	10,107	7
3,357	Proforma adjusted EBIT		4,769	2,422	97	8,126	5,730	42
1,074	of which: main JV/Associates		1,793	763	..	2,867	1,841	56
1,851	Operating profit (loss) of subsidiaries		1,651	1,495	10	3,502	3,446	2
432	Exclusion of special items		1,325	164		1,757	443
2,283	Adjusted operating profit (loss) of subsidiaries		2,976	1,659	79	5,259	3,889	35
2,398	Adjusted profit (loss) before taxes		3,469	1,957	77	5,867	4,413	33
38.3	tax rate (%)		35.2	45.9		36.4	46.2
1,480	Adjusted net profit (loss)		2,249	1,059	..	3,729	2,372	57
53	Exploration expenses:		167	42	..	220	86	..
53	prospecting, geological and geophysical expenses		81	42	93	134	86	56
	write-off of unsuccessful wells		86			86
1,615	Capital expenditure		1,526	1,336	14	3,141	2,775	13

Q1			Q2			IH
2026	Main JV/Associates		2026	2025	% Ch.	2026	2025	% Ch.
1,074	Adjusted operating profit (Eni's share)	(€ million)	1,793	763	..	2,867	1,841	56
703	of which: Vår Energi		1,217	412	..	1,920	1,009	90
177	Azule Energy		286	218	31	463	450	3
199	Adjusted net profit		592	167	..	791	495	60
308	Total dividends		250	330	(24)	558	596	(6)
525	Hydrocarbon production	(kboe/d)	566	432	31	546	432	26

(€ million)	Dec. 31, 2025	Jun. 30, 2026	Change

Fixed assets
Property, plant and equipment	50,536	49,165	(1,371)
Right of use	5,184	4,948	(236)
Intangible assets	6,022	1,532	(4,490)
Inventories - Compulsory stock	1,187	1,655	468
Equity-accounted investments and other investments	14,484	19,170	4,686
Receivables financing and securities held for operating purposes	974	997	23
Net payables related to capital expenditure	(1,337)	(1,372)	(35)
	77,050	76,095	(955)
Net working capital
Inventories	5,143	6,407	1,264
Trade receivables	8,986	9,044	58
Trade payables	(13,901)	(14,863)	(962)
Net tax assets (liabilities)	1,506	757	(749)
Provisions	(14,580)	(13,887)	693
Other current assets and liabilities	(1,572)	(1,183)	389
	(14,418)	(13,725)	693
Provisions for employee benefits	(596)	(559)	37

Discontinued operations and assets held for sale including related liabilities	5,979	11,831	5,852
CAPITAL EMPLOYED, NET	68,015	73,642	5,627

Eni's shareholders equity	47,940	52,001	4,061
Non-controlling interest	4,847	4,929	82
Shareholders' equity	52,787	56,930	4,143
Net borrowings before lease liabilities ex IFRS 16	9,528	11,271	1,743
Lease liabilities	5,700	5,441	(259)
Net borrowings after lease liabilities ex IFRS 16	15,228	16,712	1,484
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	68,015	73,642	5,627
Gearing before lease liabilities ex IFRS 16	0.15	0.17
Gearing after lease liabilities ex IFRS 16	0.22	0.23

(€ million)
Second Quarter 2026	Exploration & Production	Global Gas & LNG Portfolio and Power	Enilive	Plenitude	Refining, Chemicals and Sites in transformation	Corporate and other activities	Impact of unrealized intragroup profit elimination	GROUP	Discontinued operations exclusion			CONTINUING OPERATIONS

									Plenitude	Infragroup elimination	TOTAL
Reported operating profit (loss)	1,651	523	192	52	(129)	(313)	(78)	1,898	(52)	(669)	(721)	1,177
Exclusion of inventory holding (gains) losses			70		(151)		(70)	(151)				(151)
Exclusion of special items:
environmental charges	16		31		66	(10)		103				103
impairment losses (impairment reversals), net	1,104		6		108	69		1,287				1,287
risk provisions	11		1		1	6		19				19
provision for redundancy incentives	6			1	6	3		16	(1)		(1)	15
commodity derivatives	(179)	(95)	(23)	159	15			(123)	(159)	156	(3)	(126)
exchange rate differences and derivatives	(4)	65	(2)		11			70				70
other	371	2	(8)	(13)	30	15		397	13		13	410
Special items of operating profit (loss)	1,325	(28)	5	147	237	83		1,769	(147)	156	9	1,778
Adjusted operating profit (loss) of subsidiaries (a)	2,976	495	267	199	(43)	(230)	(148)	3,516	(199)	(513)	(712)	2,804
main JV/Associates adjusted EBIT (b)	1,793	8	28	27	3			1,859	(27)		(27)	1,832
Proforma adjusted EBIT (c)=(a)+(b)	4,769	503	295	226	(40)	(230)	(148)	5,375	(226)	(513)	(739)	4,636
Finance expenses and dividends of subsidiaries (d)	(99)	(5)	(6)	(11)	2	(144)		(263)	11	(3)	8	(255)
Finance expenses and dividends of main JV/associates (e)	(235)	2	(2)	(20)	(14)			(269)	20		20	(249)
Income taxes of main JV/associates (f)	(966)	(3)		(6)	(11)			(986)	6		6	(980)
Adjusted net profit (loss) of main JV/associates (g)=(b)+(e)+(f)	592	7	26	1	(22)			604	(1)		(1)	603
Adjusted profit (loss) before taxes (h)=(a)+(d)+(g)	3,469	497	287	189	(63)	(374)	(148)	3,857	(189)	(516)	(705)	3,152
Income taxes (i)	(1,220)	(186)	(79)	(59)	(24)	101	44	(1,423)	59	(5)	54	(1,369)
Tax rate (%)								36.9				43.4
Adjusted net profit (loss) (j)=(h)+(i)	2,249	311	208	130	(87)	(273)	(104)	2,434	(130)	(521)	(651)	1,783
of which:
- Adjusted net profit (loss) of non-controlling interest								101			(196)	(95)
- Adjusted net profit (loss) attributable to Eni's shareholders								2,333			(455)	1,878

Reported net profit (loss) attributable to Eni's shareholders								3,319			(492)	2,827
Exclusion of inventory holding (gains) losses								(120)				(120)
Exclusion of special items								(866)			37	(829)

Adjusted net profit (loss) attributable to Eni's shareholders								2,333			(455)	1,878

(€ million)

Second Quarter 2025	Exploration & Production	Global Gas & LNG Portfolio and Power	Enilive	Plenitude	Refining, Chemicals and Sites in transformation	Corporate and other activities	Impact of unrealized intragroup profit elimination	GROUP	Discontinued operations exclusion			CONTINUING OPERATIONS

									Plenitude	Infragroup elimination	TOTAL
Reported operating profit (loss)	1,495	585	53	30	(843)	(261)	103	1,162	(30)	(652)	(682)	480
Exclusion of inventory holding (gains) losses			61		396		(85)	372				372
Exclusion of special items:
environmental charges (expense recovered from third-parties)			6		102	55		163				163
impairment losses (impairment reversals), net	214		6		99	4		323				323
net gains on disposal of assets	(3)				(3)			(6)				(6)
risk provisions					16	1		17				17
provision for redundancy incentives	4				4	5		13				13
commodity derivatives	(27)	(99)	1	84	13			(28)	(84)	83	(1)	(29)
exchange rate differences and derivatives	(9)	(196)			6	1		(198)				(198)
other	(15)	88	11	10	(3)	(20)		71	(10)		(10)	61
Special items of operating profit (loss)	164	(207)	24	94	234	46		355	(94)	83	(11)	344
Adjusted operating profit (loss) of subsidiaries (a)	1,659	378	138	124	(213)	(215)	18	1,889	(124)	(569)	(693)	1,196
main JV/Associates adjusted EBIT (b)	763	9	(9)	9	20			792	(9)		(9)	783
Proforma adjusted EBIT (c)=(a)+(b)	2,422	387	129	133	(193)	(215)	18	2,681	(133)	(569)	(702)	1,979
Finance expenses and dividends of subsidiaries (d)	131	(4)	(2)	(10)	(5)	32		142	10	47	57	199
Finance expenses and dividends of main JV/associates (e)	(192)	2	(1)	(15)	(21)			(227)	15		15	(212)
Income taxes of main JV/associates (f)	(404)	(3)		(1)	12			(396)	1		1	(395)
Adjusted net profit (loss) of main JV/associates (g)=(b)+(e)+(f)	167	8	(10)	(7)	11			169	7		7	176
Adjusted profit (loss) before taxes (h)=(a)+(d)+(g)	1,957	382	126	107	(207)	(183)	18	2,200	(107)	(522)	(629)	1,571
Income taxes (i)	(898)	(147)	(50)	(39)	10	103	(4)	(1,025)	39	(2)	37	(988)
Tax rate (%)								46.6
Adjusted net profit (loss) (j)=(h)+(i)	1,059	235	76	68	(197)	(80)	14	1,175	(68)	(524)	(592)	583
of which:
- Adjusted net profit (loss) of non-controlling interest								41			(60)	(19)
- Adjusted net profit (loss) attributable to Eni's shareholders								1,134			(532)	602

Reported net profit (loss) attributable to Eni's shareholders								543			(545)	(2)
Exclusion of inventory holding (gains) losses								256				256
Exclusion of special items								335			13	348
Adjusted net profit (loss) attributable to Eni's shareholders								1,134			(532)	602

(€ million)
First Half 2026	Exploration & Production	Global Gas & LNG Portfolio and Power	Enilive	Plenitude	Refining, Chemicals and Sites in transformation	Corporate and other activities	Impact of unrealized intragroup profit elimination	GROUP	Discontinued operations exclusion			CONTINUING OPERATIONS

									Plenitude	Infragroup elimination	TOTAL
Reported operating profit (loss)	3,502	381	375	826	(302)	(615)	(96)	4,071	(826)	(1,363)	(2,189)	1,882
Exclusion of inventory holding (gains) losses			(35)		(555)		5	(585)				(585)
Exclusion of special items:
environmental charges	15		48		90	(10)		143				143
impairment losses (impairment reversals), net	1,203		11		187	73		1,474				1,474
net gains on disposal of assets	(5)							(5)				(5)
risk provisions	11		1		1	6		19				19
provision for redundancy incentives	9	1	1	2	12	7		32	(2)		(2)	30
commodity derivatives	(11)	314	14	(423)	178			72	423	(425)	(2)	70
exchange rate differences and derivatives	27	152	(2)		16			193				193
other	508	(35)	(10)	(6)	50	13		520	6		6	526
Special items of operating profit (loss)	1,757	432	63	(427)	534	89		2,448	427	(425)	2	2,450
Adjusted operating profit (loss) of subsidiaries (a)	5,259	813	403	399	(323)	(526)	(91)	5,934	(399)	(1,788)	(2,187)	3,747
main JV/Associates adjusted EBIT (b)	2,867	17	30	40	23			2,977	(40)		(40)	2,937
Proforma adjusted EBIT (c)=(a)+(b)	8,126	830	433	439	(300)	(526)	(91)	8,911	(439)	(1,788)	(2,227)	6,684
Finance expenses and dividends of subsidiaries (d)	(183)	(9)	(14)	(2)	5	(321)		(524)	2	(12)	(10)	(534)
Finance expenses and dividends of main JV/associates (e)	(449)	6	(5)	(39)	(31)			(518)	39		39	(479)
Income taxes of main JV/associates (f)	(1,627)	(6)		(5)	4			(1,634)	5		5	(1,629)
Adjusted net profit (loss) of main JV/associates (g)=(b)+(e)+(f)	791	17	25	(4)	(4)			825	4		4	829
Adjusted profit (loss) before taxes (h)=(a)+(d)+(g)	5,867	821	414	393	(322)	(847)	(91)	6,235	(393)	(1,800)	(2,193)	4,042
Income taxes (i)	(2,138)	(306)	(113)	(129)	6	224	30	(2,426)	129	(11)	118	(2,308)
Tax rate (%)								38.9				57.1
Adjusted net profit (loss) (j)=(h)+(i)	3,729	515	301	264	(316)	(623)	(61)	3,809	(264)	(1,811)	(2,075)	1,734
of which:
- Adjusted net profit (loss) of non-controlling interest								174			(626)	(452)
- Adjusted net profit (loss) attributable to Eni's shareholders								3,635			(1,449)	2,186

Reported net profit (loss) attributable to Eni's shareholders								4,390			(1,367)	3,023
Exclusion of inventory holding (gains) losses								(398)				(398)
Exclusion of special items								(357)			(82)	(439)

Adjusted net profit (loss) attributable to Eni's shareholders								3,635			(1,449)	2,186

(€ million)
First Half 2025	Exploration & Production	Global Gas & LNG Portfolio and Power	Enilive	Plenitude	Refining, Chemicals and Sites in transformation	Corporate and other activities	Impact of unrealized intragroup profit elimination	GROUP	Discontinued operations exclusion			CONTINUING OPERATIONS

									Plenitude	Infragroup elimination	TOTAL
Reported operating profit (loss)	3,446	1,358	174	64	(1,302)	(539)	289	3,490	(64)	(2,375)	(2,439)	1,051
Exclusion of inventory holding (gains) losses			42		427		(111)	358				358
Exclusion of special items:
environmental charges (expense recovered from third-parties)	(2)		22		117	55		192				192
impairment losses (impairment reversals), net	469		5		159	8		641				641
net gains on disposal of assets	(3)				(3)			(6)				(6)
risk provisions					16	1		17				17
provision for redundancy incentives	9		1		7	17		34				34
commodity derivatives	(19)	(342)	1	292	15			(53)	(292)	290	(2)	(55)
exchange rate differences and derivatives	15	(297)	(1)		3	1		(279)				(279)
other	(26)	122	4	10	5	(20)		95	(10)		(10)	85
Special items of operating profit (loss)	443	(517)	32	302	319	62		641	(302)	290	(12)	629
Adjusted operating profit (loss) of subsidiaries (a)	3,889	841	248	366	(556)	(477)	178	4,489	(366)	(2,085)	(2,451)	2,038
main JV/Associates adjusted EBIT (b)	1,841	19	(24)	8	29			1,873	(8)		(8)	1,865
Proforma adjusted EBIT (c)=(a)+(b)	5,730	860	224	374	(527)	(477)	178	6,362	(374)	(2,085)	(2,459)	3,903
Finance expenses and dividends of subsidiaries (d)	29	(9)	(8)	(13)	(5)	(16)		(22)	13	71	84	62
Finance expenses and dividends of main JV/associates (e)	(322)	5	(3)	(24)	(41)			(385)	24		24	(361)
Income taxes of main JV/associates (f)	(1,024)	(4)		(1)	23			(1,006)	1		1	(1,005)
Adjusted net profit (loss) of main JV/associates (g)=(b)+(e)+(f)	495	20	(27)	(17)	11			482	17		17	499
Adjusted profit (loss) before taxes (h)=(a)+(d)+(g)	4,413	852	213	336	(550)	(493)	178	4,949	(336)	(2,014)	(2,350)	2,599
Income taxes (i)	(2,041)	(310)	(72)	(113)	43	222	(50)	(2,321)	113	(7)	106	(2,215)
Tax rate (%)								46.9
Adjusted net profit (loss) (j)=(h)+(i)	2,372	542	141	223	(507)	(271)	128	2,628	(223)	(2,021)	(2,244)	384
of which:
- Adjusted net profit (loss) of non-controlling interest								82			(187)	(105)
- Adjusted net profit (loss) attributable to Eni's shareholders								2,546			(2,057)	489

Reported net profit (loss) attributable to Eni's shareholders								1,715			(2,121)	(406)
Exclusion of inventory holding (gains) losses								246				246
Exclusion of special items								585			64	649
Adjusted net profit (loss) attributable to Eni's shareholders								2,546			(2,057)	489

(€ million)
First Quarter 2026	Exploration & Production	Global Gas & LNG Portfolio and Power	Enilive	Plenitude	Refining, Chemicals and Sites in transformation	Corporate and other activities	Impact of unrealized intragroup profit elimination	GROUP	Discontinued operations exclusion			CONTINUING OPERATIONS

									Plenitude	Infragroup elimination	TOTAL
Reported operating profit (loss)	1,851	(142)	183	774	(173)	(302)	(18)	2,173	(774)	(694)	(1,468)	705
Exclusion of inventory holding (gains) losses			(105)		(404)		75	(434)				(434)
Exclusion of special items:
environmental charges	(1)		17		24			40				40
impairment losses (impairment reversals), net	99		5		79	4		187				187
net gains on disposal of assets	(5)							(5)				(5)
risk provisions
provision for redundancy incentives	3	1	1	1	6	4		16	(1)		(1)	15
commodity derivatives	168	409	37	(582)	163			195	582	(581)	1	196
exchange rate differences and derivatives	31	87			5			123				123
other	137	(37)	(2)	7	20	(2)		123	(7)		(7)	116
Special items of operating profit (loss)	432	460	58	(574)	297	6		679	574	(581)	(7)	672
Adjusted operating profit (loss) of subsidiaries (a)	2,283	318	136	200	(280)	(296)	57	2,418	(200)	(1,275)	(1,475)	943
main JV/Associates adjusted EBIT (b)	1,074	9	2	13	20			1,118	(13)		(13)	1,105
Proforma adjusted EBIT (c)=(a)+(b)	3,357	327	138	213	(260)	(296)	57	3,536	(213)	(1,275)	(1,488)	2,048
Finance expenses and dividends of subsidiaries (d)	(84)	(4)	(8)	9	3	(177)		(261)	(9)	(9)	(18)	(279)
Finance expenses and dividends of main JV/associates (e)	(214)	4	(3)	(19)	(17)			(249)	19		19	(230)
Income taxes of main JV/associates (f)	(661)	(3)		1	15			(648)	(1)		(1)	(649)
Adjusted net profit (loss) of main JV/associates (g)=(b)+(e)+(f)	199	10	(1)	(5)	18			221	5		5	226
Adjusted profit (loss) before taxes (h)=(a)+(d)+(g)	2,398	324	127	204	(259)	(473)	57	2,378	(204)	(1,284)	(1,488)	890
Income taxes (i)	(918)	(120)	(34)	(70)	30	123	(14)	(1,003)	70	(6)	64	(939)
Tax rate (%)								42.2
Adjusted net profit (loss) (j)=(h)+(i)	1,480	204	93	134	(229)	(350)	43	1,375	(134)	(1,290)	(1,424)	(49)
of which:
- Adjusted net profit (loss) of non-controlling interest								73			(430)	(357)
- Adjusted net profit (loss) attributable to Eni's shareholders								1,302			(994)	308

Reported net profit (loss) attributable to Eni's shareholders								1,071			(875)	196
Exclusion of inventory holding (gains) losses								(278)				(278)
Exclusion of special items								509			(119)	390
Adjusted net profit (loss) attributable to Eni's shareholders								1,302			(994)	308

Second Quarter					2026	IH
Reported results	Profit on stock	Special items	Finance expense reclassified	Adjusted results	(€ million)	Reported results	Profit on stock	Special items	Finance expense reclassified	Adjusted results

1,898	(151)	1,699	70	3,516	Operating profit	4,071	(585)	2,255	193	5,934
(191)		(5)	(70)	(266)	Finance income (expense)	(379)		(8)	(193)	(580)
2,991		(2,384)		607	Income (expense) from investments	3,317		(2,436)		881
(1,322)	45	(146)		(1,423)	Income taxes	(2,354)	179	(251)		(2,426)
3,376	(106)	(836)		2,434	Net profit	4,655	(406)	(440)		3,809
57	14	30		101	- Non-controlling interest	265	(8)	(83)		174
3,319	(120)	(866)		2,333	Net profit attributable to Eni's shareholders	4,390	(398)	(357)		3,635

(€ million)
Shareholders' equity at January 1, 2025		55,648
Total comprehensive income (loss)	(3,758)
Dividends paid to Eni's shareholders	(1,528)
Dividends distributed by consolidated subsidiaries	(63)
Net purchase of treasury shares	(660)
Issue of hybrid bonds	1,500
Repurchase of perpetual hybrid bonds	(1,251)
Coupon of perpetual subordinated bonds	(105)
Taxes on disposal of Enilive and Plenitude	(26)
Taxes on hybrid bond coupon and costs	10
Plenitude transaction - disposal to EIP	209
Put option on Plenitude	(139)
Enilive transaction - disposal to KKR	3,569
Other changes	(1)
Total changes		(2,243)
Shareholders' equity at June 30, 2025		53,405
attributable to:
- Eni's shareholders		49,738
- Non-controlling interest		3,667
Shareholders' equity at January 1, 2026		52,787
Total comprehensive income (loss)	5,878
Dividends paid to Eni's shareholders	(1,558)
Dividends distributed by consolidated subsidiaries	(153)
Net purchase of treasury shares	(880)
Issue of hybrid bonds	1,000
Coupon of perpetual subordinated bonds and Enimarine	(184)
Taxes on hybrid bond coupon and costs	37
Other changes	3
Total changes		4,143
Shareholders' equity at June 30, 2026		56,930
attributable to:
- Eni's shareholders		52,001
- Non-controlling interest		4,929

PRODUCTION OF OIL AND NATURAL GAS BY REGION
Q1			Q2		IH
2026			2026	2025	2026	2025
62	Italy	(kboe/d)	57	65	59	69
321	Rest of Europe		300	243	311	240
534	North Africa		529	515	531	521
396	Sub-Saharan Africa		404	336	400	329
344	Asia		342	369	343	371
141	Americas		157	132	149	124
-	Australia and Oceania		-	8	-	4
1,798	Production of oil and natural gas ^(a)(b)(c)(d)		1,789	1,668	1,793	1,658
525	- of which Joint Ventures and associates		566	432	546	432
141	Production sold ^(a)	(mmboe)	145	136	286	269


PRODUCTION OF LIQUIDS BY REGION
Q1			Q2		IH
2026			2026	2025	2026	2025
26	Italy	(kbbl/d)	23	26	25	26
203	Rest of Europe		185	150	194	145
171	North Africa		176	173	173	171
192	Sub-Saharan Africa		185	194	189	188
194	Asia		174	214	184	214
76	Americas		89	68	82	61
-	Australia and Oceania		-	-	-	-
862	Production of liquids		832	825	847	805
296	- of which Joint Ventures and associates		282	238	289	233

PRODUCTION OF NATURAL GAS BY REGION
Q1			Q2		IH
2026			2026	2025	2026	2025
186	Italy	(mmcf/d)	175	208	180	223
617	Rest of Europe		603	487	610	500
1,894	North Africa		1,848	1,786	1,871	1,828
1,068	Sub-Saharan Africa		1,145	745	1,107	736
784	Asia		878	811	832	819
344	Americas		357	338	350	329
-	Australia and Oceania		-	40	-	23
4,893	Production of natural gas		5,006	4,415	4,950	4,458
1,198	- of which Joint Ventures and associates		1,487	1,019	1,343	1,041

		First Half	First Half
		2026	2025
Total Recordable Injury Rate (TRIR)	(total recordable injuries/worked hours) x 1,000,000	0.53	0.48
Direct GHG emissions (Scope 1)	(mmtonnes CO₂ eq.)	8.0	9.5
Direct methane emissions (Scope 1)	(ktonnes CH₄)	5.8	8.3
Volumes of hydrocarbon sent to routine flaring	(billion Sm³)	0.0	0.0
Volume of oil spills due to sabotage (>1 barrel)	(bbl)	75	0
Volume of operational oil spills (>1 barrel)		931	11
Re-injected production water	(%)	59	55
KPIs refer to 100% of the operated assets, consolidated and unconsolidated.