EDF / 2018 Reference document

5.

THE GROUP’S PERFORMANCE IN 2018 AND FINANCIAL OUTLOOK Operating and financial review

Water flow coefficients in France in 2018 and 2017 (1)

Normal level

2018

2017

Min-max 2007 - 2018

170%

160%

150%

140%

130%

120%

110%

100%

90%

80%

70%

60%

50%

40%

30%

May

June

April

July

March

August

January

February

October

December

November

September

(1) Weekly monitoring by EDF’s OSGE energy observatory of French reservoir levels (Miréor project) as far as the coast.

EDF Renewables has closed on a purchase agreement with York Nebraska ■ Wind Partners, LLC, a partnership comprised of Aksamit Resource Management, LLC and York Capital Management for 100-percent of the interests in the 300MW Milligan 1 Wind Project (see press release of 17 January 2019). The EDF Renewables-Masdar consortium awarded a 400MW wind project in ■ Saudi Arabia (see press release of 11 January 2019). EDF Renewables and Shell invested in New Jersey offshore wind (see press ■ release of 20 December 2018 and note 3.8.1 to the 2018 consolidated financial statements). EDF Renewables announced the repowering of the Eckolstädt wind farm in ■ Germany (see press release of 11 December 2018). EDF Renewables entered into an agreement with Shell Energy North America to supply ■ 132MWp of solar power in California (see press release of 15 November 2018). EDF Énergies Nouvelles was rebranded EDF Renouvelables (see press release of ■ 6 September 2018) and EDF Énergies Nouvelles’ international entities were rebranded EDF Renewables (see press release of 12 April 2018). EDF Renewables won a 276MW wind energy project in Brazil (see press release ■ of 5 September 2018). EDF Renewables sold a 49% minority stake in twenty-four of its UK wind farms ■ (c.550MW) (see press release of 29 June 2018 and note 3.8.2 to the 2018 consolidated financial statements). The realisation of the three offshore wind projects at Fécamp, ■ Courseulles-sur-Mer and Saint-Nazaire that EDF Renewables is developing with its partners Enbridge Inc. and WPD has been confirmed (see press release of 20 June 2018). EDF Renewables acquired a 450MW offshore wind project in Scotland from ■ Mainstream Renewable Power (see press release of 3 May 2018 and note 5.2 to the 2018 consolidated financial statements).

France had very high precipitation in the first part of the year, with exceptionally high snowfall on all mountain ranges during the winter. A very warm, very dry summer and autumn then followed, gradually diminishing water flow coefficients and leading to very low water levels in autumn, particularly in the northern half of the country. As a result of these contrasting weather conditions, water flow coefficients in France showed a relative surplus in every month of the first half of 2018 (registering some of the highest levels in 40 years), then a shortfall in the second part of the year. For the year as a whole, however, the coefficients were slightly above normal by about 10%. 5.1.3 This chapter reports on significant events following the publication, on 15 March 2018, of the 2017 Reference Document (see section 5.1.3 “Significant events of 2017” and 5.2 “Subsequent events”). Major events 5.1.3.1 Sustainable development 5.1.3.1.1 and Group Renewables EDF Renewables (2) In 2018, EDF Renewables commissioned new facilities, signed electricity ■ purchase agreements and undertook new projects. EDF Renewables entered into exclusive talks with a view to acquire the ■ Luxel group, a French solar energy specialist (see press release of 14 February 2019). EDF Renewables and SITAC group signed power purchase agreement covering ■ 300MW of wind project in India (see press release of 4 February 2019). SIGNIFICANT EVENTS OF 2018 (1)

A full list of press releases is available from the EDF website: www.edf.fr (1) A full list of press releases is available from the EDF Renouvelables website: www.edf-renouvelables.com (2)

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EDF I Reference Document 2018