| 1. THE GROUP, ITS STRATEGY AND ACTIVITIES | 5 |
| 1.1 2020 Key figures | 6 |
| 1.2 Group’s presentation | 10 |
| 1.2.1 Organisation of the Group | 10 |
| 1.2.2 History of the Group | 12 |
| 1.2.3 Significant events of the year | 14 |
| 1.3 Group strategy and objectives | 15 |
| 1.3.1 Environment and strategic challenges | 15 |
| 1.3.2 Priorities of the CAP 2030 strategy | 15 |
| 1.3.3 Strategy and organisation | 18 |
| 1.4 Description of the Group’s activities | 19 |
| 1.4.1 Electricity generation activity | 19 |
| 1.4.2 Sales and supply activities in France | 47 |
| 1.4.3 Optimisation activities in France | 51 |
| 1.4.4 Regulated, transmission and distribution activities in France | 53 |
| 1.4.5 International activities | 63 |
| 1.4.6 Energy services and other activities | 86 |
| 1.5 Research & development, patents and licenses | 92 |
| 1.5.1 R&D priorities | 92 |
| 1.5.2 Intellectual property | 95 |
| 2. RISK FACTORS AND CONTROL FRAMEWORK | 97 |
| 2.1 Risk management and control of activities | 98 |
| 2.1.1 Control environment | 98 |
| 2.1.2 Focus on the 2nd line of control: cross-functional control systems | 99 |
| 2.1.3 Focus on the 3rd line of control: the Group’s audit unit | 104 |
| 2.1.4 External controls | 105 |
| 2.2 Risks to which the Group is exposed | 105 |
| 2.2.1 Market regulation, political and legal risks | 107 |
| 2.2.2 Financial and market risks | 111 |
| 2.2.3 Group transformation and strategic risks | 113 |
| 2.2.4 Operational performance | 116 |
| 2.2.5 Specific risks related to nuclear activities | 121 |
| 3. NON-FINANCIAL PERFORMANCE | 129 |
| Issues and commitments | 130 |
| 16 high-priority CSR issues | 130 |
| 16 CSR commitments | 131 |
| 3.1 Carbon neutrality and the climate | 133 |
| 3.1.1 Group carbon trajectory | 133 |
| 3.1.2 Climate change adaptation strategy | 139 |
| 3.1.3 EDF climate governance | 140 |
| 3.1.4 Development of uses of electricity and energy services | 144 |
| 3.2 Preserving the planet’s resources | 148 |
| 3.2.1 Biodiversity | 148 |
| 3.2.2 Responsible land management | 152 |
| 3.2.3 Integrated and sustainable water management | 153 |
| 3.2.4 Waste and circular economy | 155 |
| 3.3 Well-being and solidarity | 159 |
| 3.3.1 Health and safety for all | 159 |
| 3.3.2 Ethics, compliance and human rights | 164 |
| 3.3.3 Equality, diversity and inclusion | 170 |
| 3.3.4 Energy poverty and social innovation | 174 |
| 3.4 Responsible development | 178 |
| 3.4.1 Dialogue and consultation with stakeholders | 178 |
| 3.4.2 Responsible regional development | 179 |
| 3.4.3 Responsible development of industrial sectors | 187 |
| 3.4.4 A data-responsible company | 188 |
| 3.5 CSR governance | 190 |
| 3.5.1 Listening and understanding the issues | 190 |
| 3.5.2 Mastering the issues | 191 |
| 3.6 Vigilance plan | 198 |
| 3.6.1 Main characteristics of EDF as regards the “Duty of Care” law | 198 |
| 3.6.2 Scope and methodology for developing the plan | 198 |
| 3.6.3 Stakeholder association | 199 |
| 3.6.4 Salient risk mapping | 199 |
| 3.6.5 Risk prevention and mitigation initiatives | 200 |
| 3.6.6 Whistleblowing system | 202 |
| 3.6.7 System for monitoring the measures implemented and evaluating their effectiveness | 202 |
| 3.6.8 Procedure for regular evaluation of the situation of subsidiaries, subcontractors and suppliers based on risk mapping | 203 |
| 3.6.9 Report on the EDF group’s vigilance plan | 203 |
| 3.7 Methodology | 206 |
| 3.7.1 Principles and changes in scopes | 206 |
| 3.7.2 Details relating to the CSR information | 207 |
| 3.8 Non-financial rating | 214 |
| 3.9 Appendixes and concordance tables | 215 |
| 3.9.1 Contribution to UN sustainable development goals | 215 |
| 3.9.2 Compliance with best international standards | 216 |
| 3.9.3 Further details relating to compliance with TCFD requirements | 217 |
| 3.9.4 Summary of EDF group climate risks | 218 |
| 3.9.5 Further details of income tax paid in all the countries where the Group has subsidiaries | 219 |
| 3.9.6 Stakeholder Mapping | 220 |
| 3.9.7 Report by one of the Statutory Auditors, appointed as independent third party on the consolidated non-financial statement | 221 |
| Appendix 1: Qualitative information (actions and results) considered most important | 223 |
| Appendix 2: List the contributing entities in the report | 224 |
| Appendix 3: EDF Group’s verified greenhouse gas emissions assessment | 225 |
| 4. CORPORATE GOVERNANCE | 227 |
| 4.1 Corporate Governance Code | 228 |
| 4.2 Members and functioning of the Board of Directors | 229 |
| 4.2.1 Members of the Board of Directors | 230 |
| 4.2.2 Functioning of the Board of Directors | 243 |
| 4.2.3 Board of Directors’ Committees | 248 |
| 4.3 Executive Management | 254 |
| 4.3.1 Members of the Executive Committee | 255 |
| 4.3.2 Personal information on members of the Executive Committee | 255 |
| 4.4 Conflicts of interest and interests of corporate officers and executives | 257 |
| 4.4.1 Conflicts of interest | 257 |
| 4.4.2 Absence of conviction | 257 |
| 4.4.3 Service contracts | 257 |
| 4.5 Shareholding by corporate officers and trading in EDF securities by corporate officers and executives | 257 |
| 4.5.1 Shareholding in EDF by directors | 257 |
| 4.5.2 Trading in Company securities | 258 |
| 4.6 Remuneration and benefits of corporate officers – Remuneration policy | 258 |
| 4.6.1 Remuneration policy | 258 |
| 4.6.2 Total remuneration of the Chairman & Chief Executive Officer | 261 |
| 4.6.3 Total remuneration of directors | 262 |
| 4.6.4 Stock options – Bonus shares | 263 |
| 5. THE GROUP’S FINANCIAL PERFORMANCE AND OUTLOOK | 265 |
| 5.1 Review of the financial situation and results 2020 | 266 |
| 5.1.1 Key figures | 266 |
| 5.1.2 Economic environment | 267 |
| 5.1.3 Significant events | 273 |
| 5.1.4 Analysis of the business and the consolidated income statement for 2020 and 2019 | 275 |
| 5.1.5 Cash flow and net indebtedness | 283 |
| 5.1.6 Management and control of market risks | 285 |
| 5.2 Subsequent events | 293 |
| 5.3 Changes in market prices at end February 2021 | 293 |
| 5.4 Outlook | 293 |
| 6. FINANCIAL STATEMENTS | 295 |
| 6.1 Consolidated financial statements | 296 |
| Consolidated income statement | 296 |
| Consolidated statement of comprehensive income | 297 |
| Consolidated balance sheet | 298 |
| Consolidated cash flow statement | 299 |
| Change in consolidated equity | 300 |
| Notes to the consolidated financial statements | 301 |
| 6.2 Statutory Auditors’ report on the consolidated financial statements | 419 |
| 6.3 Financial statements | 423 |
| Income statement | 423 |
| Balance sheet | 424 |
| Cash flow statement | 426 |
| Notes to the financial statements | 427 |
| 6.4 Statutory Auditors’ report on the financial statements | 483 |
| 6.5 Dividend policy | 486 |
| 6.5.1 Dividends and interim dividends paid in the last three fiscal years | 486 |
| 6.5.2 Dividend policy, increased dividend | 486 |
| 6.5.3 Unclaimed dividends | 486 |
| 6.6 Other items | 487 |
| 6.6.1 Table of results for the last five fiscal years | 487 |
| 6.6.2 Significant change in the financial or trading position | 488 |
| 6.6.3 Informations on invoice settlement times (account payable and receivable) (as required by Article L. 441-6-1 of the French Commercial Code) | 488 |
| 6.6.4 Information on existing branches – as required by Article L. 231-1 of the Commercial Code | 488 |
| 6.7 Information relating to the allocation of funds raised through Green Bonds issued by EDF | 489 |
| 6.8 Information relating to the issue of OCEANEs Green bonds | 497 |
| 6.8.1 Additional report of the Board of Directors relating to the issue of OCEANEs Green bonds (Articles L. 225-129-5 and R. 225-16 of the French Commercial Code) | 497 |
| 6.8.2 Statutory Auditors’ supplementary report on the issue of bonds convertible into and/or exchangeable for new or existing shares of the Company, with cancellation of preferential subscription rights | 503 |
| 7. GENERAL INFORMATION ABOUT THE COMPANY AND ITS CAPITAL | 507 |
| 7.1 General information about the Company | 508 |
| 7.1.1 Company name, address and telephone number of the registered office | 508 |
| 7.1.2 Trade and Companies Registry, APE code | 508 |
| 7.1.3 Date of incorporation and term of the Company | 508 |
| 7.1.4 Legal form and applicable legislation | 508 |
| 7.1.5 Disputes | 508 |
| 7.1.6 EDF, a public undertaking with a public service mission | 509 |
| 7.2 Incorporation documents and articles of association | 510 |
| 7.2.1 Corporate purpose | 510 |
| 7.2.2 Fiscal year | 510 |
| 7.2.3 Statutory distribution of profits | 510 |
| 7.2.4 Rights attached to shares | 511 |
| 7.2.5 Assignment and transfer of shares | 511 |
| 7.2.6 Changes to the articles of association, the capital and voting rights | 511 |
| 7.2.7 Members and functioning of the Board of Directors | 511 |
| 7.2.8 Shareholder’s Meetings | 511 |
| 7.2.9 By law or statutory provisions that delay acquisition of control over the Company | 512 |
| 7.2.10 Threshold crossings | 512 |
| 7.3 Information regarding capital and share ownership | 513 |
| 7.3.1 Amount and changes in share capital | 513 |
| 7.3.2 Treasury shares and share buyback programme | 514 |
| 7.3.3 Capital authorised but not issued | 516 |
| 7.3.4 Other equity securities | 517 |
| 7.3.5 Non-equity securities | 517 |
| 7.3.6 Information on the capital of every group member that is the subject of a conditional or unconditional agreement | 518 |
| 7.3.7 Pledge of the Company’s shares | 518 |
| 7.3.8 Ownership of the Company’s capital and voting rights | 518 |
| 7.3.9 Agreements whose implementation could lead to a change of control | 519 |
| 7.3.10 Shareholder dialogue | 519 |
| 7.4 Market for the Company’s shares | 520 |
| 7.5 Related-party transactions | 521 |
| 7.5.1 Related-party transactions | 521 |
| 7.5.2 Statutory Auditor’s special report on regulated agreements | 522 |
| 7.5.3 Routine agreements procedure | 524 |
| 7.6 Material contracts | 525 |
| 7.6.1 Material contracts entered into in 2020 | 525 |
| 7.6.2 Material contracts entered into in 2019 | 525 |
| 7.6.3 Material contracts entered into in 2018 | 525 |
| 8. ADDITIONAL INFORMATION | 527 |
| 8.1 Person responsible for the Universal Registration Document and the Certification | 528 |
| 8.1.1 Person responsible for the Universal Registration Document | 528 |
| 8.1.2 Certification from the person responsible for the 2020 Universal Registration Document containing the annual financial report | 528 |
| 8.2 Auditors – Statutory Auditors | 528 |
| 8.3 Publicly available documents and financial reporting calendar | 529 |
| 8.4 Concordance tables | 530 |
| 8.4.1 Concordance table with Appendix I of (EC) regulation no. 2019/980 | 530 |
| 8.4.2 Concordance table with the management report | 532 |
| 8.4.3 Concordance table with the elements of the EDF Board of Directors’ report on corporate governance | 534 |
| 8.4.4 Concordance table with the statement of non-financial performance | 535 |
| 8.4.5 Concordance table with the annual financial report | 537 |
| Glossary | 537 |