EDF / 2020 Universal Registration Document

6 FINANCIAL STATEMENTS Notes to the financial statements

18.3

Subsidiaries and investments under 50% of capital

Dividends received in 2020

Impairment recorded at 31/12/2020

Gross book value of shares owned

% capital

Net income 2019

owned Equity 2019

(in millions of euros)

I. Subsidiaries Total I Carried forward

59,812

577

1,775

II Investments II.1 Companies in which EDF has an interest of between 10% and 50%: I ndustrial and commercial ● companies France Trimet France

130

79 56

35

261

4 2

- - -

Dalkia Investissements

63

49.9

15

Total II.1

193

135

II.2 Companies in which EDF has an interest of less than 10%: Other companies

-

-

-

-

-

-

Other countries Forces Motrices de Mauvoisin

1 1

- -

10

111

5

n.a.

Total II.2

- -

Total II

194

135

Total subsidiaries and investments, gross TOTAL SUBSIDIARIES AND INVESTMENTS, NET

60,006

712

1,775

59,294

n.a.: not applicable (less than €500,000).

18.4

Investment securities portfolio

At year-end

At start of year

Gross book value

Net book value

Fair value

Gross book value

Net book value

Fair value

(in millions of euros)

VALUE OF INVESTMENT SECURITIES

22,350

22,246

24,816

24,347

24,195

27,148

At 31 December 2020, the net value of the investment securities portfolio comprises €24,195 million of dedicated assets.

The Chairman and CEO, acting by delegation of the Board of Directors, decided on 23 December 2019 to proceed under the share repurchase programme authorised by the General Shareholders’ Meeting to reassignment of 3,646,913 EDF shares initially assigned to the liquidity contract, and 50,594 shares assigned to an Employee-reserved Offering of 2007, which is now an obsolete purpose. A total of 3,697,507 shares were thus assigned to the objective of a capital reduction by cancellation of those shares. This operation resulted in cancellation of 3,646,913 shares included in investment securities, for the amount of €36 million, and 50,594 shares included in marketable securities (see note 21), for the amount of €2 million, giving a total cancellation of €38 million, charged to the Company’s equity (see note 24).

18.5

Treasury shares

On 29 July 2020 the Company’s Board of Directors decided to cancel 3,697,507 treasury shares reserved for this objective, with effect from 30 September 2020, allocating the difference between the repurchase value and nominal value of the cancelled shares to equity. This decision follows introduction of the Company’s share repurchase programme authorised by the General Shareholders’ Meeting of 16 May 2019 for a duration of 18 months. A liquidity contract exists for this programme, as required by the French market regulator AMF in decision AMF 2018-01 of 2 July 2018.

31/12/2020

31/12/2019

Change in 2020*

Gross value Impairment

Net value

Gross value

Impairment

Net value

(in millions of euros)

TREASURY SHARES

61

(14)

47

(37)

10

-

10

Including €(36) million relating to the treasury share cancellation described above. * At 31 December 2020, a total 830,000 treasury shares are included in “investment securities” at the net value of €10 million.

455

EDF - UNIVERSAL REGISTRATION DOCUMENT 2020