EDF / 2018 Reference document

FINANCIAL STATEMENTS Balance sheet

FINANCIAL ASSETS NOTE 18 CHANGE IN FINANCIAL ASSETS 18.1

Gross value at 31/12/2018

Gross value at 31/12/2017

(in millions of euros)

Investments (1)

59,207

58,594

Receivables related to investments

51

55

Investment securities (2)

20,790

17,875

Other investments CSPE receivable (3)

286

269

2,060

3,294 9,095 89,182

Loans to subsidiaries and other financial assets (4)

10,485 92,879

TOTAL FINANCIAL ASSETS, GROSS

Impairment of investments and related receivables

(307) (716)

(204)

Impairment of investment securities

(55)

(1,023) 91,856

(259)

TOTAL IMPAIRMENT

88,923

TOTAL FINANCIAL ASSETS, NET

The change in investments essentially corresponds to: (1) an additional €94 million in the valuation of the shares in Framatome. At 31 December 2018, the 75.5% investment in Framatome is stated at the value of - €1,988 million including acquisition expenses. new investments by EDF Invest (see note 38.2.5): - subscription to the capital increase by EDF Nam Theun Holding, which owns a hydroelectric dam in Laos (€437 million); . subscription to the capital increase by C45, which owns wind farms in the United Kingdom (€99 million). . Changes in investment securities correspond mainly to acquisitions and sales of dedicated assets over the period, which generated net gains of €846 million (2) in 2018 (see note 14). These gains are reinvested in the dedicated asset portfolio. This receivable consists of the accumulated shortfall at 31 December 2015 in the compensation for public energy service charges (CSPE) and the associated (3) financing costs. Reimbursements received during 2018 amount to €1,281 million including interest (€954 million in 2017) (see note 3.5), in line with the repayment schedule. Loans to subsidiaries at 31 December 2018 total €10,426 million, including €6,404 million for EDF International, €1,325 million for Dalkia, €1,063 million for (4) EDF Renewables, €788 millon for PEI and €502 million for Enedis.

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EDF I Reference Document 2018