EDF / 2018 Reference document

FINANCIAL STATEMENTS Balance sheet

CHANGES IN EQUITY NOTE 24

Profit or loss for the financial year

Retained earnings and interim dividends

Tax- regulated provisions

Investment subsidies

Total equity 28,812

Reserves and premiums

Capital

(in millions of euros)

At 31 December 2016

1,055

13,627

2,311 4,412

5,517

169

6,132

Allocation of 2016 net income

- -

4

(4,416)

- - - - - - - - - - - -

- - - - - - - - - - - -

-

2017 profit

-

- - -

1,924

1,924 4,005 1,024

Capital increase of 31 March 2017 Capital increase of 30 June 2017

316

3,689

- -

73

951

Dividend distribution

-

-

1

(1,101)

(1,100)

Capital increase of 11 December 2017

20

378

-

- - -

398

Interim dividend Other changes

- -

-

(433) 84 (1) 6,375

(433)

(6)

(34)

46

2

At 31 December 2017

1,464

18,651

1,924

163

6,098

34,676

Allocation of 2017 net income

- -

41

973

(1,014)

-

2018 profit

-

- -

1,591

1,591

Capital increase of 19 June 2018

41

806

-

847

Dividend distribution

- - -

- -

1

(910)

(909) (451)

6.

Interim dividend Other changes

(451)

- -

(4)

1

3

(42)

(42)

1,505

19,494

6,900

1,591

166

6,056

35,712

AT 31 DECEMBER 2018

Impact of application of hedge accounting in compliance with regulation ANC 2015-05. (1)

SHARE CAPITAL 24.1 EDF’s share capital amounted to €1,505,133,838 at 31 December 2018, comprising 3,010,267,676 fully subscribed and paid-up shares with nominal value of €0.50 each, owned 83.67% by the French State, 15.06% by the public (institutional and private investors), 1.15% by current and retired Group employees, and 0.12% held by EDF as treasury shares. In June 2018, payment of the balance of the dividend for 2017 in the form of a scrip dividend led to a €41 million increase in the share capital and an issue premium of €806 million following the issuance of 82,828,872 new shares. The formalities for this operation were completed in June 2018. Under Article L. 111-67 of the French Energy Code, the French State must hold more than 70% of the capital of EDF at all times.

DIVIDENDS 24.2 The General Shareholders’ Meeting of 15 May 2018 decided to distribute an ordinary dividend of €0.46 per share in respect of 2017, offering the choice of receiving this dividend in cash, or in the form of shares (scrip option). In application of Article 24 of the Company’s articles of association, shareholders who have held their shares continuously for at least 2 years at the year-end and still hold them at the dividend distribution date benefit from a 10% bonus on their dividends. The number of shares carrying an entitlement to the bonus dividend cannot exceed 0.5% of the Company’s capital for a single shareholder. The bonus dividend amounts to €0.506 per share. As interim dividends of €0.15 per share had been paid out in cash or in the form of shares (scrip option) on 11 December 2017, the balance payable for 2017 amounted to €0.31 per share benefiting from the ordinary dividend and €0.356 per share benefiting from the bonus dividend. The balance of the dividend was paid out on 19 June 2018. The French government opted for the scrip dividend for the 2017 distribution. The amount of the cash dividend paid to shareholders who did not opt for the scrip dividend for the 2017 distribution was €60 million. On 6 November 2018, EDF’s Board of Directors decided to distribute an interim dividend of €0.15 per share in respect of 2018. This interim dividend amounting to a total of €451 million was paid out in the form of cash only, on 10 December 2018.

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EDF I Reference Document 2018