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Enel Shareholders

Enel builds its relationship with all shareholders through dedicated corporate structures and, in particular, through the Investor Relations unit in the Administration, Finance and Control Department and a unit dedicated to dialogue with all shareholders in the Legal and Corporate Affairs Department. In 2016 there were 615 meetings with institutional investors and 148 responses were provided to information requests from retail shareholders.
In order to further strengthen dialogue with investors, in 2016 the structure of the contents of the Company’s website was revised (, “Investors” section), on which it is possible to find both economic, financial, environmental, social and governance information and updated data and documents of particular interest, which make possible a multidisciplinary and integrated view.

Enel and the financial market

Enel has continuous dialogue with institutional investors, who generally follow the announcement of the Industrial Plan and/or the interim results, collecting their indications and needs in a structured way. On an annual basis an independent study is carried out on the perception of the Company by the financial community. Enel’s commitment in the transition towards a new energy model has been recognized, characterized by the increase in generation from renewable sources and by the development of networks. In 2016 the aspects of Enel’s strategy which were most commonly analyzed and appreciated were: the digitalization of assets, people and customers as enabling factors in the move towards a low carbon economy, the increased level of communication and involvement on risks and opportunities linked to the actions included in the Plan, as well as the conservative approach in assumptions about the macroeconomic scenario. In the last year Enel further reinforced its commitment to promote sustainable growth, also by setting up inside Investor Relations a specific area dedicated to relations with the financial market on ESG issues. The Sustainability and Investor Relations units periodically organize specific activities and meetings to monitor the information needs and non-financial requests of the institutional funds. In particular, in June 2016 the first road show was held dedicated to ESG issues in London, Paris and Frankfurt. In 2016, 68% of institutional investors had a long-term investment style, confirming Enel’s commitment to a business model which is sustainable over time. In particular Enel’s share capital included 150 Socially Responsible Investors (132 in 2015) holding around 8% of total Enel shares in circulation (7.7% in 2015). The increase is clearer if account is taken of the greater number of shares making up Enel’s share capital (following the integration of Enel Green Power) compared to 2015. In absolute terms the shares held by SRI funds rose by 13%.