EDF / 2020 Universal Registration Document

6 FINANCIAL STATEMENTS

Notes to the consolidated financial statements

18.4

Unused Credit lines

On 30 October 2020 EDF and Standard Chartered Bank signed a €200 million renewable credit facility. The cost of this facility will be indexed on three EDF group sustainability KPIs: EDF’s direct CO 2 emissions, electrification of its light vehicle fleet, and use of online consumption monitoring tools by its French residential customers (see note 20.3.2). At 31 December 2020, the Group has unused credit lines with various banks totalling €11,110 million (€10,490 million at 31 December 2019), including €5,650 million of credit lines indexed on ESG criteria.

In 2019, EDF signed 3 renewable credit lines, each one for €300 million, respectively with BBVA, the Crédit Agricole group and Société Générale CIB. These three credit facilities incorporate an adjustment mechanism that links their cost to three of the Group’s sustainability KPIs: direct CO 2 emissions, use of online consumption monitoring tools by its French residential customers (as a proxy for EDF’s success in getting French residential customers actively engaged with their energy consumption), and electrification of its light vehicle fleet.

31/12/2020

31/12/2019

Maturity

Total

< 1 year

1-5 years

> 5 years

Total

(in millions of euros)

CONFIRMED CREDIT LINES

11,110

1,808

8,483

819

10,490

18.5

Fair value of financial instruments

Accounting principles and methods Financial instruments are stated at fair value, which corresponds to the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction on the principal or most advantageous market at the measurement date. The valuation methods for each level are generally as follows: level 1 (unadjusted quoted prices): prices accessible to the entity at the ● measurement date on active markets, for identical assets or liabilities;

level 2 (observable data): data concerning the asset or liability, other than ● the market prices included in initial level 1 input, which are directly observable (such as a price) or indirectly observable ( i.e. deduced from observable prices); level 3 (non-observable data): data that are not observable on a market, ● including observable data that have been significantly adjusted.

The distribution of financial assets and liabilities in the balance sheet by level is as follows.

At 31 December 2020

Level 1 Unadjusted quoted prices

Level 2 Observable data

Level 3 Non-observable data

Balance sheet value

Fair value

(in millions of euros)

Equity securities Debt securities

1,563

1,563

24

1,121

418

42,802

42,802

2,423

40,337

42

Hedging derivatives Trading derivatives Cash equivalents

5,439 5,038

5,439 5,038

59

5,372 4,057

8

289 343

692

438

438

95

-

FINANCIAL ASSETS CARRIED AT FAIR VALUE

55,280 55,280

3,138

50,982 13,034

1,160

Receivables from the NLF

13,034

13,034

- - -

- - - -

Other loans and financial receivables

3,271

3,271

3,271

FINANCIAL ASSETS CARRIED AT AMORTISED COST

16,305 16,305

16,305 2,791 4,645 7,436 75,680 75,680

Hedging derivatives Trading derivatives

2,792 5,125 7,917 65,591

2,792 5,125 7,917 75,680

1

290 291

190 190

FINANCIAL LIABILITIES CARRIED AT FAIR VALUE

Loans and other financial liabilities

- -

- -

FINANCIAL LIABILITIES CARRIED AT AMORTISED COST

65,591 75,680

Level 3 debt and equity securities are principally non-consolidated investments carried at historical value.

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EDF - UNIVERSAL REGISTRATION DOCUMENT 2020