EDF / 2020 Universal Registration Document

6 FINANCIAL STATEMENTS Notes to the financial statements

Unrealised foreign exchange losses Note 23

Unrealised foreign exchange losses amount to €872 million at 31 December 2020, principally reflecting: unrealised losses caused by currency movements (essentially by the US dollar and the pound sterling) amounting to €576 million at 31 December 2020 (€994 million at 31 December 2019) on liabilities and receivables in foreign currencies, and currency hedging instruments; the balance at 31 December 2020 of realised gains and losses on the settlement of hedging instruments with the subsidiary EDF International, amounting to

€296 million (€311 million at 31 December 2019). In accordance with the national chart of accounts, in application of the symmetry principle set out in Article 628-11, the net result (€311 million in 2019, no equivalent in 2020) is recognised in unrealised foreign exchange losses and transferred to expenses over the residual life of the hedged item, symmetrically to the accounting treatment of gains and losses on the hedged item. A €15 million expense was accordingly recognised in the 2020 financial result.

Changes in equity Note 24

Retained earnings and interim dividends

Profit or loss for the financial year

Reserves and premiums

Investment subsidies

Tax-regulated

Capital

provisions Total equity

(in millions of euros)

At 31 December 2018

1,505

19,494

6,900 1,103

1,591

166

6,056

35,712

Allocation of 2018 net income

- -

5

(1,108)

- - - - - - - - - - -

- - - - - - - - - - -

-

2019 profit

-

- -

1,593

1,593

Capital increase of 18 June 2019

20

431

-

451

Dividend distribution

-

-

1

(483)

(482)

Capital increase of 17 December 2019

27

403

-

- - -

430

Interim dividend Other changes

- -

-

(458)

(458) (126)

1

1

(7)

(121) 5,935

At 31 December 2019

1,552

20,334

7,547 1,588

1,593

159

37,120

Allocation of 2019 net income

- - -

5

(1,593)

-

2020 profit

- -

- -

222

222

Dividend distribution

- - - -

-

Cancellation of treasury shares*

(2)

(22)

(14)

(38)

Interim dividend Other changes

- -

-

- -

-

(1)

1

(149)

(149)

AT 31 DECEMBER 2020 5,786 37,155 Following the decision by EDF’s Board of Directors 29 July 2020 to cancel 3,697,507 treasury shares via adjustment of equity. The amount concerned is * €(38) million (see note 18.5). 1,550 20,316 9,121 222 160

24.1

Share capital

24.2

Dividends

At 31 December 2020, EDF’s share capital amounts to €1,549,961,789.50 comprising 3,099,923,579 fully subscribed and paid-up shares with nominal value of €0.50, owned 83.68% by the French State, 14.94% by the public (institutional and private investors) and 1.36% by current and retired Group employees, with 0.02% held by EDF as treasury shares. Under Article L. 111-67 of the French Energy Code, the French State must hold more than 70% of the capital of EDF at all times.

The interim dividend for 2019 decided by EDF’s Board of Directors on 19 November 2019 was €0.15 per share. It was paid out in the form of new shares (scrip option) or cash on 17 December 2019 and amounted to a total of €458 million. The French government opted for the scrip interim dividend for 2019. The cash dividend paid to shareholders who did not take the scrip option amounted to €27 million. In the context of the Covid-19 pandemic, in response to the imperative needs for solidarity and responsibility to all the Company’s stakeholders, it was decided at the General Shareholders’ Meeting of 7 May 2020 that the interim dividend would be the only dividend for 2019. Furthermore, EDF did not distribute an interim dividend in respect of the 2020 financial year.

458

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EDF - UNIVERSAL REGISTRATION DOCUMENT 2020