EDF_REGISTRATION_DOCUMENT_2017

FINANCIAL STATEMENTS Dividend policy

6.6

DIVIDEND POLICY

6.6.1

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:

Dividend per share (in euros)

Total dividends paid (1) (in euros) 2,327,233,892.26 (3) 2,079,072,045.71 (5) 2,105,349,378.42 (8)

Dividend payment date 5 June 2015 30 June 2016 30 June 2017

Fiscal year

Number of shares 1,860,008,468 1,920,139,027 2,741,877,687 (6)

1.25 (2) 1.10 (4) 0.90 (7)

2014 2015 2016

After deduction of treasury shares. (1) I.e. €1.375 for shares benefiting from the loyalty dividend. (2) Of which €1,059,262,163.04 in interim dividends paid on 17 December 2014 for that year. (3) I.e. €1.21 for shares benefiting from the loyalty dividend. (4) Of which €1,058,682,286.08 in interim dividends paid on 18 December 2015 for that year. (5) When the remaining dividend was paid, i.e. after the capital increase of 30 March 2017 in which 632,741,004 new shares were issued. (6) I.e. €0.99 for shares benefiting from the loyalty dividend. (7) Of which €1,005,552,797 in interim dividends paid on 31 October 2016 for that year comprising €922,416,509.04 in new shares, €82,548,293.00 in cash and a (8) balancing payment of €587,994.96. The remaining €1,099,796,581.42 of the dividend for 2016, paid on 30 June 2017, comprised €1,024,155,172.48 in new shares, €74,454,959.22 in cash and a balancing payment of €1,186,449.72.

6.

On 7 November 2017, EDF’s Board of Directors decided to distribute an interim dividend of €0.15 per share for 2017, offering the choice of receiving this dividend in cash or in the form of new shares (scrip option) on the terms set in the fourth resolution adopted at the Combined Shareholders’ Meeting of 18 May 2017. The interim dividend for the 2017 fiscal year came to €432,632,648.85 and was paid on 11 December 2017 consisting of: a payment in shares via a share capital increase of €20,042,265.00 following the ■ issue of 40,084,530 shares at a par value of €0.50 on top of a share premium of €378,397,963.20 and a balancing payment of €445,953.15; a payment in cash of €33,746,467.50. ■ At its meeting of 15 February 2018, the Board of Directors decided to ask the Shareholders' Meeting of 15 May 2018 to pay a dividend of €0.46 per share (excluding loyalty dividend) for 2017. In view of the interim dividend of €0.15 per share paid on 11 December 2017, the remaining dividend payable for that year 6.6.2 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 loyalty dividend was paid in 2014 for the previous year. Shareholders holding their shares in registered form for at

comes to €0.31 per share for shares benefiting from the ordinary dividend and €0.356 per share for shares benefiting from the loyalty dividend. Shareholders will be offered the option of having the remaining dividend paid out in new Company shares. This option will be available between 25 May and 11 June 2018 inclusive. For shareholders who have not exercised their option by 11 June 2018 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 2017. Subject to the approval of the Shareholders' Meeting the dividend will be paid on 19 June 2018 with the ex-dividend date set at 25 May 2018.

DISTRIBUTION POLICY, INCREASED DIVIDEND

least two years are entitled to a loyalty dividend. The number of shares eligible for the 10% increased dividend may not exceed 0.5% of the share capital. On 21 November 2014 the Shareholders' Meeting amended the articles of association to the effect of authorizing 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.

6.6.3

UNCLAIMED DIVIDENDS

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

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EDF I Reference Document 2017