EDF / 2020 Universal Registration Document

5 THE GROUP’S FINANCIAL PERFORMANCE AND OUTLOOK Review of the financial situation and results 2020 would be the only dividend for 2019, and would not be increased by the loyalty dividend (see the press release of 7 May 2020). Changes in the EDF group’s Executive Committee: Béatrice Buffon was appointed as Executive Director in charge of EDF’s ❯ International Division (see the press release of 4 February 2020); Alain Tranzer was appointed as Executive Director for industrial quality and ❯ nuclear skills (see the press release of 14 February 2020).

Other significant events 5.1.3.5 The Covid-19 pandemic: the economic disruption caused by the Covid-19 pandemic brought demand for electricity down and had significant repercussions for the Group, which withdrew all its financial targets for 2021 in April 2020 (see the press release of 14 April 2020). The Group’s new financial outlook is presented in section 10 of this report. The pandemic affected nuclear power output in France, energy sales and services in all geographical zones, and volumes delivered in France. The estimated impact on Group EBITDA at 31 December 2020 is -€1,479 million (1) . Other information concerning the effects of Covid-19 was made available during the year in the following press releases: status on the consequences of the Covid-19 sanitary crisis (press release of ❯ 23 March 2020); the EDF group united in its determination to tackle the public-health crisis ❯ (press release of 2 April 2020); EDF introduces new measures to support its customers in the context of the ❯ Covid-19 pandemic (press release of 16 April 2020); EDF enriches its service offering to support businesses resuming their ❯ operations with its Pack Redémarrage (press release of 8 June 2020); pursuant to the proposals made by the Board of Directors to respond to the ❯ imperative needs for solidarity and accountability towards all of the Company’s stakeholders in view of the current crisis, it was decided at the General Shareholders’ Meeting of 7 May 2020 that the 2019 interim dividend of €0.15

5.1.4

Analysis of the business and the consolidated income statement for 2020 and 2019

Presentation and analysis of the consolidated income statement for 2020 and 2019 is shown at two levels for Sales and EBITDA: a first focusing on the Group, then a second reporting on the different business segments (France – Generation and supply, France – Regulated activities, EDF Renewables, Dalkia, Framatome, United Kingdom, Italy, Other international and Other activities). EBIT (operating profit) and net income are analysed from a general standpoint. The impacts of the Covid-19 sanitary crisis mentioned below are estimated. See note 1.4 “Comparability (including the effect of the Covid-19 pandemic)” in the Group’s audited financial statements at 31 December 2020.

2020

2019 (1)

(in millions of euros)

Sales

69,031 (32,425) (8,461) (13,957) (3,797)

71,347 (35,091) (8,625) (13,797) (3,798)

Fuel and energy purchases Other external purchases (2)

Personnel expenses

Taxes other than income taxes

Other operating income and expenses

5,783

6,687

Operating profit before depreciation and amortisation (EBITDA)

16,174

16,723

Net changes in fair value on Energy and Commodity derivatives, excluding trading activities

(175)

642

Net depreciation and amortisation (3)

(10,838)

(10,020)

(Impairment)/reversals

(799) (487) 3,875

(403) (185) 6,757

Other income and expenses Operating profit (EBIT)

Cost of gross financial indebtedness

(1,610) (3,733)

(1,806) (3,161)

Discount effect

Other financial income and expenses

2,761

4,603 (364) 6,393

Financial result

(2,582)

Income before taxes of consolidated companies

1,293 (945)

Income taxes

(1,532)

Share in net income of associates and joint ventures

425

818

Net income of discontinued operations CONSOLIDATED NET INCOME

(158)

(497)

615 650 804

5,182 5,155 5,639

EDF net income

EDF net income – continuing operations EDF net income – discontinued operations

(154)

(484)

Net income attributable to non-controlling interests

(35) (31)

27 40

Net income attributable to non-controlling interests – continuing operations Net income attributable to non-controlling interests – discontinued operations (13) The published figures for 2019 have been restated for the impact of the change in the scope of the E&P disposal (see note 1.4.2 to the 2020 consolidated financial (1) statements). Other external expenses are reported net of capitalised production costs. (2) Including net increases in provisions for renewal of property, plant and equipment operated under concessions. (3) (4)

(1) Estimated data. See note 1.4 “Comparability (including the effect of the Covid-19 pandemic)” in the Group’s audited financial statements at 31/12/2020.

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EDF - UNIVERSAL REGISTRATION DOCUMENT 2020