EDF / 2020 Universal Registration Document

6 FINANCIAL STATEMENTS

Notes to the consolidated financial statements

Actuarial gains and losses on obligations in 2020 Actuarial gains and losses on obligations amount to €3,293 million for 2020, including: €2,356 million in France as a result of: ● the €2,695 million change in the discount rate, ❯ the €(604) million change in the inflation rate; ❯ €896 million in the United Kingdom, essentially associated with changes in the ● discount and inflation rates (see note 16.1.2). Actuarial gains and losses on obligations amount to €5,130 million for 2019, including: €4,151 million in France as a result of: ● the €5,515 million change in the discount rate, ❯ the €(926) million change in the inflation rate, ❯ €(285) million due to the proposed law on social security system funding ❯ for 2020, €(183) million due to an update of the wage law; ❯ €873 million in the United Kingdom, essentially associated with changes in the ● discount and inflation rates.

Actuarial gains and losses on fund assets in 2020 Actuarial gains and losses on fund assets amount to €(2,390) million for 2020. They mainly result from a €(1,179) million change in the United Kingdom and a €(1,204) million change in France due to a very good performance on the bond markets. Net employee benefit liability at 31 December 2020 The net liability at 31 December 2020 amounted to €21,284 million, including: €22,019 million in France; ● €(1,289) million in the United Kingdom, reflecting: ● recognition by EDF Energy of surplus funding on its EEGSG and BEGG pension ● schemes (as explained in the accounting principles and methods below), totalling €1,725 million compared to €1,246 million at 31 December 2019. This surplus funding, which increased due to the good performance by fund assets, is recognised in balance sheet assets under “non-current financial assets”; recognition by EDF Energy of a €436 million provision in respect of its EEPS ● pension scheme at 31 December 2020, compared to €224 million at 31 December 2019.

Changes in the net liability in 2020 were as follows:

384

www.edf.fr

EDF - UNIVERSAL REGISTRATION DOCUMENT 2020