EDF / 2020 Universal Registration Document

1 THE GROUP, ITS STRATEGY AND ACTIVITIES Description of the Group’s activities In addition, production losses were suffered at the Chooz power plant due to the low water levels in the river Meuse. Regarding performance achieved during unit shutdowns, on the whole the year-end results are equivalent to those of previous year, but were achieved against the backdrop of the health crisis from March 2020 onwards: the shutdown schedule for the 2020 campaign suffered significant upheaval due to the health crisis, requiring major adjustments to the work programmes, and causing disruption to preparation; some shutdowns were extended by more than 50 days, notably the partial inspections at Cattenom 2, Civaux 1, Cruas 3, Blayais 3, and Gravelines 6, and the ten-year inspection at Chinon B4. These shutdowns, some of which began during the first lockdown, met with significant complications (for a diesel generator at Cattenom 2, on an ASG pump (2) at Civaux 1, and on an RRA exchanger (3) at Chinon B4); the most remarkable performance of the 2020 campaign was the SRS for Dampierre 3, completed in 27.2 days. This duration was the best performance for the fleet since 2014. Also noteworthy was the SRS for Tricastin 1, completed in 35.6 days. Regarding more consequential shutdowns, the successful ten-year inspection at Nogent 2 and partial inspection at Tricastin 4 can be noted. It should be noted that the action plan implemented to secure power generation level has made it possible to ensure a sufficient level of output for the winter months of 2020/2021. Investment programme for the existing nuclear fleet in France EDF’s industrial strategy is to operate the existing nuclear fleet well beyond 40 years under the best conditions of nuclear safety, security and environmental protection (see section 1.4.1.1.2.3 “The challenges specific to nuclear activity” – “Preparing for the future of the nuclear fleet in France”), which requires to keep on performing significant maintenance operations over the 2014-2025 period. On 22 January 2015, EDF’s Board of Directors approved in principle a major overhaul programme (the Grand Carénage ) aimed at refurbishing the French nuclear fleet, enhancing reactor safety and, if conditions allow, continuing their operation. This programme incorporates additional safety improvements identified following the Fukushima accident. This industrial programme is being gradually implemented in compliance with the objectives of the Energy transition for green growth Law, multi-year energy programmes and the opinions and orders of the ASN as well as specific procedures for reactors to run for more than 40 years. The initial investment amount stood at € 2013 55 billion (€60 billion in current euros) in total over the 2014-2025 period for the 58 reactors currently operating (4) and covered both usual maintenance spending and investments required to extend the lifespan of equipment (replacement of the steam generators, VD4 900, VD3 1,300). The optimisation work undertaken since (reductions and postponements) led to a downward revision of the overall cost of the programme to € 2013 45 billion (or €48 billion in current euros) over the 2014-2025 period. This revision is largely a result of continued optimisation efforts regarding the adopted technical solutions and component replacement strategies and greater precision in their application by integrating the capacities of the industrial base, which enabled certain expenses to be postponed. Bringing forward the shutdown date for the Fessenheim plant in 2020 has also been taken into account.

Generation and technical performance The nuclear fleet produced 335.4TWh in 2020, down 44.1TWh compared to that of 2019. Nuclear generation expressed in annual energy corresponds to a load factor rate referred to as “Kp” for the French nuclear fleet (defined as the ratio of energy generated to the maximum theoretical energy, or the energy generated if the installed capacity were operated year-round). This rate is obtained by multiplying two coefficients (Kp = Kd × Ku): the availability factor (“Kd”) (the available energy (1) as a percentage of the theoretical maximum energy, or the energy generated if the installed capacity were operated year-round). The Kd depends on outage durations, and is therefore impacted by standard durations and the work programme to be performed; a utilisation factor, “Ku” (energy generated compared to energy available). The Ku factor reflects environmental, regulatory and social constraints, supply of system services and optimisation implemented by EDF (fuel and modulation). In 2020, the Kp factor reached 61.65%, on a slight decrease compared with that of 2019 (68.6%). This results from a Kd of 71.9%, lower than in 2019 (74.0%) and a Ku of 85.7%, also lower than in 2019 (92.7%). The Covid-19 health crisis had a measurable, quantifiable impact on nuclear power generation in 2020, as recorded in the information system logs. This impact is of different kinds: shutdown or suspension of critical worksites, additional modulation of the power of units, reorganisation of the shutdown schedule, etc. For units in operation, the impact on activities is measurable, as the consequences on power generation are immediate or short term. However, for unit shutdowns, in addition to the measurable impact, production was also affected by various causes which cannot be directly quantified. These various causes are mainly of two kinds: slowdown of activities (flow management, protective health measures, choke points, etc.) and fewer human resources available (positive cases, contact cases, rest time for first aid teams, etc.). In short, the negative impact relating to Covid-19 on 2020 generation is estimated to be approximately 33TWh. In addition to the effects of the health crisis, the drop in power generation in 2020 compared to 2019 is due to the shutdown of the two Fessenheim reactors as well as: the shutdown of Flamanville 2 (ten-year inspection) and Paluel 2 (Simple Reload Shutdown – SRS) which continued throughout the 2020 campaign, due to major technical issues. The end of 2020 and the beginning of 2021 saw the return of these two units to the grid, on 14 December 2020 and 17 January 2021 respectively, having been shut down for 702 days and 449 days; a significant technical complication on a shared radioactive effluent collection tank for Bugey 2 and 3, resulting in the extension of the ten-year inspection of Bugey 2 and the shutdown of Unit 3 (as well as the extension of its SRS); exceptional incidents and large-scale contingencies (Flamanville 1 diesel – 10TWh, Cattenom 1 power transmission station – 1.1TWh). Excluding the contingent loss at Flamanville 1, contingent losses for “operating units” had their best result since 2016 (3.2%).

(1) Available energy is equal to the maximum theoretical energy less generation losses due to technical reasons inherent to power plants, such as planned outages, unplanned outages due to failure or safety requirements, and performance of regulatory tests.

(2) Steam generator back-up auxiliary power supply. (3) Cooling circuit for the reactor when shut down.

(4) The figures presented by the French Cour des Comptes in its report of 10 February 2016 cover a longer time horizon, up to 2030, and included, beyond the investment, operating and maintenance expenses. Both assessments are consistent, as stated by the Cour des Comptes in its report. Indeed, among the overall estimates calculated by the Cour des Comptes and amounting to close to €100 billion for the 2014-2030 period, the investment -expenditures estimated at €74.73 billion should be distinguished from the operating expenditures estimated at € 2013 25.16 billion. Within the € 2013 74.73 billion of investment expenses between 2014 and 2030, € 2013 55 billion are dedicated to the 2014-2025 period, which allows the two estimates established by the EDF group and the Cour des Comptes to be connected.

23

EDF - UNIVERSAL REGISTRATION DOCUMENT 2020