E ON : Presentation E.ON H1 2021 Results

H1 2021 Results

August 11th, 2021

Positive momentum with guidance adjustment

E.ON H1 2021 results

Highlights

Strong performance in H1 2021

Excellent operations including progress on synergies and normalized weather

Technical adjustment of FY 2021 guidance EBIT1 guidance upgrade of ~€0.6bn due to adoption of law on the use of nuclear production rights

Mid-termtargets including synergies and dividend policy confirmed

Floods in Germany - E.ON provides high

competence in crisis management

H1 key financials1

€bn

3.2

2.2

			1.8
			1.0
	Adj. EBIT	Adj. Net
				Income
		H1 2020		H1 2021

2021 FY guidance update

Group EBITDA1 €7.6-7.8bn

(€7.2-7.4bn)

Group EBIT1	€4.4-4.6bn
(€3.8-4.0bn)

Adj. Net Income1 €2.2-2.4bn

(€1.7-1.9bn)

1. Adjusted for non-operating effects	2

E.ON - the trusted expert for reliable energy infrastructure

E.ON H1 2021 results

German flood disaster highlights the increased importance for resilient energy infrastructure

• Our industry-leading operations are the groundwork for quick and non-bureaucratic aid for victims
• The unprecedented support across all E.ON grid operators is exemplar of our efficient crisis management

3

Progress on our key priorities

E.ON H1 2021 results

Sustainability

• Ecological grid corridor management: ~70,000 hectares along our high-voltagelines to become biotopes
• #GenerationRestoration:
  UNEP1 partnership for preventing, halting and reversing the destruction of ecosystems

Digitalization	Growth
• IT renewal on track: increasing	• European 'Fit for 55': focus
focus on cloudification	themes fully support E.ON's

growth ambitions

• Acceleration on digital sales

platforms: total of 9.5m accounts	• CEO Alliance for Europe's
migrated to E.ONnext and German	Recovery, Reform and Resilience:
digital sales platform	E.ON undertakes fundamental
	role in the green energy transition
	with own hydrogen activities
	European
	Green Deal

1. United Nations Environment Programme	4

Energy Networks Germany: initial proposal for return on equity published

E.ON H1 2021 results

Allowed German pre-tax RoE1 for new assets

6.91%

RFR2: 2.49%	RFR2: 0.74%
MRP3: 3.7%
MRP3: 3.8%	Beta: 0.81
Beta: 0.83	minimum

3rd regulatory period4	4.59%

First assessment

• Proposed RoE is not sufficient to support investment needs for energy transition
• Proposal is not competitive in an international context
• Market risk premium of 3.7% is lowest in any European energy regulation, average ~5%6

Further process

• Consultation period for RoE for 4th regulatory period until 25th August 2021

Initial proposal for 4th regulatory period5

• Final RoE determination expected for October
• Consultation period led to RoE increase in 2 (out of 3) previous regulatory periods

1. RoE = Return on Equity 2. RFR = risk-free rate 3. MRP = market risk premium 4. Gas: 2018-2022, Power: 2019-2023 5. Gas: 2023-2027, Power: 2024-2028	5
6. According to CEER report