Power generation and supply: about 70%
Renewable energies: about 20%
Networks and services: about 10%

Spain: about 60%
Portugal: about 15%
Italy: about 10%

Endesa, S.A. generates the majority of its revenues from power generation and supply, which accounts for about 70% of total income. A significant portion of revenues also comes from renewable energies, as the company has increased its investments in this area.

The Spanish market is the largest for Endesa, representing about 60% of total revenues. Portugal and Italy follow as important markets, with Portugal accounting for about 15% and Italy about 10% of revenues. This distribution reflects Endesa's strong presence on the Iberian Peninsula.

Production sites of Endesa, S.A.:

• Spain: Main production country
• Portugal: Additional production capacities
• Italy: Participations and collaborations in the energy sector

Endesa, S.A. is a leading energy company in Spain and operates the majority of its production plants there. The company is active in the generation, distribution, and sale of electricity. In addition to Spain, Endesa also has production capacities in Portugal and is active in Italy through collaborations and participations.

Endesa is increasingly focusing on renewable energies and has significantly invested in solar and wind power plants in recent years to expand its production capacities in these areas.

Focus on Renewable Energies: 60% of the investment budget (2025)
Planned Capacity Expansion: 4 GW of renewable energies by 2026

Endesa, S.A. pursues a strategy that strongly focuses on the expansion of renewable energies. The company plans to invest a significant portion of its investment budget in renewable energy projects to expand its capacities in this area by 4 gigawatts by 2026.

In addition, Endesa emphasizes the digitization of its networks and the improvement of energy efficiency. These measures are intended not only to reduce operating costs but also to increase customer satisfaction and enhance competitiveness in the market.

Another strategic focus is on reducing CO2 emissions to meet European climate targets. Endesa plans to gradually close its coal-fired power plants and replace them with more environmentally friendly alternatives.

Main Imported Raw Materials:

• Natural Gas
• Coal
• Oil

Countries of Origin:

• Natural Gas: Algeria, Norway, Qatar
• Coal: Colombia, South Africa, Russia
• Oil: Saudi Arabia, Iraq, Nigeria

Endesa, S.A., as one of the leading energy companies in Spain, mainly imports fossil fuels to support its energy production. Natural gas is an essential component of the energy mix and is mainly sourced from Algeria, which is connected to Spain via pipelines. Norway and Qatar are also significant suppliers.

Coal imports mainly come from Colombia, South Africa, and Russia, as these countries have large coal reserves and offer competitive prices. Oil is imported from major producing countries in the Middle East and Africa to ensure flexibility in energy production.

This import strategy enables Endesa to ensure a stable supply of raw materials and to respond to price fluctuations in international markets.

Market share in Spain: approximately 35% (2024)
EBITDA margin: 23.5% (2024)
Investments in renewable energies: 2.5 billion euros (2024)

Endesa, S.A. has a significant competitive advantage due to its strong market position in Spain, where it holds a market share of about 35%. This enables the company to benefit from economies of scale and achieve a solid EBITDA margin of 23.5%, indicating an efficient cost structure and strong operational performance.

Another key advantage is Endesa's strategic investment in renewable energies. With investments of 2.5 billion euros in 2024, the company is well positioned to benefit from the global energy transition. These investments not only strengthen the sustainability of the company's portfolio but also help to mitigate regulatory risks and unlock new business opportunities.

In summary, it can be said that Endesa possesses a robust competitive advantage through its market leadership, operational efficiency, and strategic investments in renewable energies.

Institutional investor share: approx. 70% (2025, estimated)

Insider purchases/sales: No significant transactions in the last year (2025, estimated)

The institutional investor share in Endesa, S.A. is around 70%, which is typical for large publicly traded companies in Europe. These investors include pension funds, investment funds, and other major financial institutions seeking long-term holdings.

In 2025, there were no significant insider purchases or sales, indicating that management and other insiders have confidence in the current company strategy and valuation. Such transactions are often seen as an indicator of the company's future performance.

Market share of Endesa, S.A.: approx. 20% (2025, estimated)

Main competitors and their market shares:

1. Iberdrola, S.A.: approx. 25%
2. Naturgy Energy Group, S.A.: approx. 15%
3. Repsol, S.A.: approx. 10%
4. Acciona, S.A.: approx. 8%
5. EDP Renováveis, S.A.: approx. 7%

Endesa, S.A. is one of the leading energy providers in Spain and holds a significant market share. Endesa's moat mainly lies in its established infrastructure, strong brand awareness, and broad customer base. Additionally, the company benefits from its integration into the Enel Group, providing access to international expertise and capital.

Compared to its competitors, Iberdrola has a stronger moat, particularly due to its leading position in renewable energies and international presence. Naturgy and Repsol also hold strong positions, with Naturgy's diversification into gas and Repsol's vertical integration in energy production being key strengths.

Endesa must continue to invest in renewable energies and enhance its efficiency to strengthen its moat and remain competitive. The competition is intense, and the market is evolving rapidly, especially in the sustainable energy sector.

Revenue growth: 3.5% (2024) EBITDA growth: 4.2% (2024) Investments in renewable energies: 2.1 billion euros (2024)

Endesa, S.A. achieved a moderate revenue growth of 3.5% in 2024, indicating stable demand in the energy sector. The EBITDA growth of 4.2% shows that the company was able to effectively manage its operating costs and improve its profitability.

An essential strategic focus of Endesa is on investing in renewable energies. In 2024, the company invested 2.1 billion euros in this area, indicating a long-term orientation towards sustainability and adaptation to regulatory requirements for reducing CO2 emissions.

These factors suggest that Endesa is well positioned to benefit from the energy transition. Investments in renewable energies could lead to further growth and a stronger market position in the coming years. This makes the stock a potentially attractive investment for investors interested in sustainable and long-term growth opportunities.

Dividend yield: 6.5% (2025, estimated)

Endesa, S.A. is known for its reliable dividend policy. The company has regularly paid out dividends in the past, making it an attractive option for income investors. The dividend yield of 6.5% in 2025 is based on the latest payouts and current stock price development.

Endesa has a strong market position in the Spanish energy sector and benefits from stable sources of income. The company's payout policy aims to return a large portion of profits to shareholders, supporting the reliability of dividend payments. Analysts expect that Endesa will continue to pay a consistent dividend in the coming years, provided there are no significant market changes or regulatory interventions.