EDF / 2020 Universal Registration Document

5 THE GROUP’S FINANCIAL PERFORMANCE AND OUTLOOK Review of the financial situation and results 2020

Natural gas and oil prices

Electricity and gas consumption 5.1.2.2 Electricity and gas consumption in France 5.1.2.2.1 Electricity consumption in France showed a substantial decrease of -24.4TWh from 2019: Consumption in the first quarter of 2020 was well below consumption in the first quarter of 2019 (-5.0%): January and February were marked by very mild weather for the season, and March suffered the initial effects of the national lockdown; The second quarter was strongly affected by the Covid-19 pandemic and consumption fell by 13.3% year-on-year; The decrease was more moderate in the third quarter due to the resumption of economic activity (first visible in June) and a relatively hot summer season; Finally, consumption in the final quarter was 1.2% lower year-on-year, principally due to the slower economy. For the whole year, the decrease in consumption in mainland France attributable to the economic consequences of government measures to contain the Covid-19 pandemic is estimated at slightly more than 18TWh.

Gas consumption in France totalled 444.5TWh, down by 7.2% compared to 2019. The decrease mainly concerned: the months of January and February (-9.4% on average), when temperatures were mild for the season; the second quarter (-23%) due to warm weather in April (resulting in lower consumption for heating in early spring) and the lockdown, which reduced gas consumption for industry and also consumption of electricity, resulting in lower output by gas-fired facilities; in the second half of the year, consumption was down slightly because of the lower production of gas for electricity generation. Electricity and gas consumption in Italy 5.1.2.2.2 Electricity consumption in Italy (1) totalled 302.8TWh in 2020, 5.3% less than in 2019 as a result of the Covid-19 pandemic. The principal decrease was observed in the first half of 2020. The lower level of thermoelectric and wind power output was partly offset by an increase in hydropower and solar power generation. Net imports were down by 15.6%. Domestic demand for natural gas in Italy (2) totalled 70.7bcm, a decrease of 4.1% from 2019 that confirms the lower consumption trend caused by restrictions introduced in the early months of 2020 to contain the Covid-19 pandemic. All segments registered a downturn. In absolute value, thermoelectric uses registered the largest decrease (-1.3 billion m 3 , -5% from 2019) under the impact of the fall in electricity demand.

(1) Sources for Italy: unadjusted data and data provided by Terna, the Italian national grid operator, and adjusted by Edison. (2) Sources for Italy: Ministry for Economic Development (MSE), Snam Rete Gas data adjusted by Edison on the basis of 1Bcm = 10.76TWh.

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EDF - UNIVERSAL REGISTRATION DOCUMENT 2020