EDF / 2018 Reference document

6.

FINANCIAL STATEMENTS Dividend policy

6.6

DIVIDEND POLICY

6.6.1

DIVIDENDS AND INTERIM DIVIDENDS PAID IN THE LAST THREE FISCAL YEARS

The amount of dividends and interim dividends paid in the last three fiscal years was as follows:

Total dividends paid (1) (in euros) 2,079,072,045.71 (3) 2,105,349,378.42 (5) 1,341,187,189.41 (8)

Dividend payment date 30 June 2016 30 June 2017 19 June 2018

Dividend per share (in euros)

Fiscal year

Number of shares 1,920,139,027 2,741,877,687 (6) 2,927,438,804

1.10 (2) 0.90 (4) 0.46 (7)

2015 2016 2017

After deduction of treasury shares. (1) i.e. €1.21 for shares benefiting from the loyalty dividend. (2) Of which €1,058,682,286.08 in interim dividends paid on 18 December 2015 for that year. (3) i.e. €0.99 for shares benefiting from the loyalty dividend. (4)

Of which €1,005,552,797.00 in interim dividends paid on 31 October 2016 for that year comprising €922,416,509.04 in new shares, €82,548,293.00 in cash and (5) a balancing payment of €587,994.96. The remaining €1,099,796,581.42 of the dividend for 2016, paid on 30 June 2017, comprised €1,024,155,172.48 in new shares, €74,454,959.22 in cash and a balancing payment of €1,186,449.72. When the remaining dividend was paid, i.e. after the capital increase of 30 March 2017 in which 632,741,004 new shares were issued. (6) i.e. €0.506 for shares benefiting from the loyalty dividend. (7) Of which €432,632,648.85 in interim dividends paid on 11 December 2017 for that year comprising €398,440,228.20 in new shares, €33,746,467.50 in cash (8) and a balancing payment of €445,953.15. The remaining €908,554,540.56 of the dividend for 2017, paid on 19 June 2018, comprised €847,339,360.56 in new shares, €60,331,512.63 in cash and a balancing payment of €883,667.37.

On 6 November 2018, EDF's Board of Directors decided to pay in cash an interim dividend for the 2018 fiscal year of €0.15 per share. The interim dividend for the 2018 fiscal year came to €451,000,397.55 and was paid on 10 december 2018. At its meeting of 14 February 2019, the Board of Directors decided to propose to the Shareholders' meeting that will be summoned to approve the financial statements for the year ended 31 December 2018 and will be held on 16 May 2019, the payment of a dividend of €0.31 per share (excluding loyalty dividend) for the 2018 fiscal year. In view of the interim dividend of €0.15 per share paid on 10 December 2018, the remaining dividend payable for that year comes to €0.16 per share for shares benefiting from the ordinary dividend and €0.191 per share for shares benefiting from the loyalty dividend. 6.6.2 The dividend policy formulated by the Board of Directors takes the Group's investment needs, the economic context and any other relevant factor into account. In accordance with the amendment to the articles of association passed by the Shareholders' Meeting of 24 May 2011, the first loyalty dividend was paid in 2014 for the previous year. Shareholders holding their shares in registered form for at

Shareholders will be offered the option of having the remaining dividend paid out in new Company shares. This option will be available between 24 May and 10 June 2019 inclusive. For shareholders who have not exercised their option by 10 June 2019 at the latest, all remaining dividend payments will be made in cash. The French State has undertaken to have its dividend paid out in the form of new shares. New common shares issued to pay for the share capital increase will only entitle their holders to payment of the balance of the dividend for 2018. Subject to the approval of the Shareholders' Meeting the dividend will be paid on 18 June 2019 with the ex-dividend date set at 22 May 2019.

DISTRIBUTION POLICY, INCREASED DIVIDEND

least two years are entitled to a loyalty dividend. The number of shares eligible for the 10% increased dividend may not exceed 0.5% of the share capital. On 21 November 2014 the Shareholders' Meeting amended the articles of association to the effect of authorising it to approve the payment of any dividend, interim dividend, reserves or premium that is distributed or any reduction in capital, through delivery of the Company’s assets, including financial securities.

6.6.3

UNCLAIMED DIVIDENDS

Dividends not claimed within five years of their payment date lapse in favour of the French State.

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EDF I Reference Document 2018