EDF / 2020 Universal Registration Document

6 FINANCIAL STATEMENTS Dividend policy

Dividend policy 6.5

6.5.1

Dividends and interim dividends paid in the last three fiscal years

The amount of dividends and interim dividends paid in the last three fiscal years was as follows:

Total dividends paid (1) (in euros) 1,341,187,189.41 (3) 933,556,364.41 (5) 456,888,323.70 (6)

Dividend per share (in euros)

Fiscal year

Number of shares

Dividend payment date

0.46 (2) 0.31 (4) 0.15 (6)

2017 2018 2019

2,927,438,804 3,010,267,676 3,050,969,626

19 June 2018 18 June 2019

17 December 2019

After deduction of treasury shares. (1) i.e. €0.506 in 2017 for shares benefiting from the increased dividend. (2) Of which €432,632,648.85 in interim dividends paid on 11 December 2017 for that year comprising €398,440,228.20 in new shares, (3) €33,746,467.50 in cash and a balancing payment of €445,953.15. The remaining €908,554,540.56 of the dividend for 2017, paid on 19 June 2018, comprised €847,339,360.56 in new shares, €60,331,512.63 in cash and a balancing payment of €883,667.37. i.e. €0.341 in 2018 for shares benefiting from the increased dividend. (4) Of which €451,000,397.55 in interim dividends paid entirely in cash on 10 December 2018 for that year. (5) The remaining €482,555,966.86 of the dividend for 2018, paid on 18 June 2019, comprised €452,021,956.95 in new shares and €30,534,009.91 in cash. The 2019 interim dividend of €456,888,323.70, paid on 17 December 2019, comprised €429,635,913.60 in new shares, (6) €27,252,346.20 in cash and a balancing payment of €63.90.

On 19 November 2019, EDF’s Board of Directors decided to pay an interim dividend of €0.15 per share. The interim dividend for the 2019 fiscal year came to €456,888,323.70 and was paid on 17 December 2019: payment in shares was effected via a share capital increase of €26,325,730.00 corresponding to the issue of 52,651,460 shares with a par value of €0.50 each, accompanied by a share premium of €403,310,183.60 and a balancing payment of €63.90; payment in cash totalled €27,252,346.20. In the context of the Covid-19 health crisis and in order to demonstrate the necessary solidarity and responsibility towards all of the Company’s stakeholders, the General Meeting of 7 May 2020 decided that the dividend for the fiscal year ending 31 December 2019 would be limited to the payment of the interim dividend for 2019. In addition, EDF has not distributed an interim dividend in respect of fiscal year 2020. At its meeting of 17 February 2021, the Board of Directors decided to propose to the Shareholders’ Meeting that will be called to approve the financial statements for the year ended 31 December 2020 and will be held on 6 May 2021, the payment of a dividend of €0.21 per share (excluding increased dividend) for the 2020 fiscal year. The dividend payable for the 2020 fiscal year comes to €0.231 per share for shares benefiting from the increased dividend. Shareholders will be offered the option of having the remaining dividend paid out in new Company shares. This option will be available between 14 May and 1 June 2021 inclusive. For shareholders who have not exercised their option by 1 June 2021 at the latest, all remaining dividend payments will be made in cash. The French State has undertaken to have its dividend paid out in the form of new shares.

New common shares issued to pay for the share capital increase will only entitle their holders to payment of the balance of the dividend for 2019. Subject to the approval of the Shareholders’ Meeting, the dividend will be paid on 7 June 2021 with the ex-dividend date set at 12 May 2021.

6.5.2 Dividend policy, increased dividend

The dividend policy formulated by the Board of Directors takes the Group’s investment needs, the economic context and any other relevant factor into account. In accordance with the amendment to the articles of association passed by the Shareholders’ Meeting of 24 May 2011, the first increased dividend was paid in 2014 for the previous year. Shareholders holding their shares in registered form for at least two years are entitled to an increased dividend. The number of shares eligible for the 10% increased dividend may not exceed 0.5% of the share capital for a single shareholder. On 21 November 2014, the Shareholders’ Meeting amended the articles of association to the effect of authorising it to approve the payment of any dividend, interim dividend, reserves or premium that is distributed or any reduction in capital, through delivery of the Company’s assets, including financial securities.

6.5.3 Unclaimed dividends

Dividends not claimed within five years of their payment date lapse in favour of the French State.

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EDF - UNIVERSAL REGISTRATION DOCUMENT 2020