EDF_REGISTRATION_DOCUMENT_2017

5.

THE GROUP'S PERFORMANCE IN 2017 AND FINANCIAL OUTLOOK Operating and financial review

EDF Trading and JERA: sale of the coal trading business (see note 3.4.4 to ■ the 2017 consolidated financial statements). EDF and ENKSZ completed the transaction for the sale of 100% of ■ EDF Démász Zrt. (see press release of 1 February 2017 and note 3.4.3 to the 2017 consolidated financial statements). Financial structure EDF announced the success of its capital increase with preferential subscription ■ rights for an amount of approximately €4 billion (see press release of 28 March 2017 and note 3.1 to the 2017 consolidated financial statements). EDF raised JPY111 billion with the largest “Samurai” bond issue with 10-year ■ and longer maturity (see press release of 20 January 2017 and section 5.1.6.1.1.2 “Management of liquidity risks”). Sustainable development The EDF group launched the “Solar Power Plan” with a view to developing ■ 30GW of solar capacity in France by 2035 (see press release of 11 December 2017). EDF signed an innovative bilateral Revolving Credit Facility with an interest rate ■ that depends on its sustainability rating (see press release of 22 May 2017). EDF raised JPY26 billion through two green bonds on the Japanese “Samourai ■ bonds” market (see press release of 20 January 2017 and note 5.1.6.1.1.2 “Management of liquidity risks”). New investments, partnerships and 5.1.3.2 investment projects EDF Énergies Nouvelles (1) In 2017, EDF Énergies Nouvelles commissioned new facilities, signed electricity ■ purchase agreements and undertook new projects. On 20 July 2017, EDF Énergies Nouvelles announced that its simplified tender ■ offer for Futuren had been successful (see note 5.1. to the 2017 consolidated financial statements). On 5 July 2017, EDF Énergies Nouvelles acquired the offshore wind farm ■ operations and maintenance specialist OWS. Edison Edison signed a binding agreement with Gas Natural Fenosa for the acquisition ■ of Gas Natural Vendita Italia and the Shah Deniz II gas contract (see press release of 13 October 2017 and note 44.1.2.2. to the 2017 consolidated financial statements). Energy services On 6 July 2017, EDF Energy Services completed its purchase of Imtech. Imtech is ■ a leading engineering services company and provider of technical services to construction, industrial, commercial and public sector clients in the United Kingdom and Ireland.

Regulatory environment 5.1.3.3 Regulatory changes are detailed in the following notes to the 2017 consolidated financial statements: note 4.1 “Regulated electricity sales tariffs in France”; ■ note 4.2 “TURPE network access tariffs”; ■ note 4.3 “CSPE compensation mechanism for public energy service charges” ■ (CSPE); note 4.4 “French capacity mechanism”; ■ note 4.5 “Regulated gas sales tariffs in France”; ■ note 4.6 “Energy savings certificates: preparation for the fourth period” ■ (2018-2020); note 4.7 “ARENH”. ■ Other significant events 5.1.3.4 Interim dividend distribution for fiscal year 2017 (see press release of ■ 7 November 2017 and note 27.3 to the 2017 consolidated financial statements). New Leadership roles announced at EDF Energy (see press release of ■ 27 July 2017). Results of the option for payment of the balance of the dividend in respect of the ■ 2016 financial year (see press release of 28 June 2017 and note 27.3 to the 2017 consolidated financial statements). Appointments to the EDF group Executive Committee (see press release of ■ 12 June 2017). EDF's Board of Directors considered the strategic plan for the first period of the ■ French multiannual energy program (see press release of 6 April 2017).

A full list of press releases is available from the EDF Énergies Nouvelles website: www.edf-energies-nouvelles.com. (1)

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EDF I Reference Document 2017