E ON : Presentation Q1 2020 Results

Q1 2020 Results

May 12th, 2020

Dividend

growth

Customer centric

energy

infrastructure

SustainabilityPerformance

Q1 2020: Solid financial and operational performance

E.ON Q1 2020 results

innogy integration progressing as planned, synergy delivery on track

Virtual Annual General Meeting scheduled, dividend proposal of €0.46/share for FY 2019

Accelerated network investments feed RAB growth and better opportunities for customers

+150k customer accounts in Q1 2020

Q1 2020 financials in line with expectations, but impacted by warm weather

Group guidance for FY 2020 confirmed, reflection of Covid-19 impact as of 30th April

Key Financials1

€ m	€ bn
1,548	1,460

40.2

39.4

752 691

EBIT	Adj. Net Income	Economic Net Debt2
Q1 2019 pro forma			Q1 2020

1. Adjusted for non operating effects, pro forma figures Q1 2019, not audited 2. Economic Net Debt as per 31 Mar 2020 and 31 Dec 2019	2

Holistic crisis management ensures continuity of operations

E.ON Q1 2020 results

People & locations

• Early adoption of remote working
•	Necessary health and safety
•	measures in place
Implementation of on-site concepts	COVID-19

Customers

• "No-disconnection"policy with responsible and tailored customer services
• Ongoing and constructive dialogue with governments and regulators

Operations

• Operations almost undisturbed due to strong implemented safeguarding measures
• Maintenance and investment programs fully delivered

3

Energy Networks: ~90% of EBIT protected against volume variation

E.ON Q1 2020 results

1 Germany (schematic)

Unutilized allowed

Allowed revenuerevenue reversed1 utilization (%)

100% <100% 100% >100% >100% >100%

t=0	t=0	t+1	t+2	t+3	t+4
expected	actual

Recovery of unutilized revenues 2020 via regulatory account between 2022 - 2024

1. Mechanisms in other main markets
2. • Sweden: Revenue cap, full flexibility of recovery
   • Czech Republic: Revenue cap, recovery in t+2 in line with 'modest' price increases
3. Investments
4. • Investment program not impacted
   • Energy Networks Capex plan up for 2020, now at ~€3.3bn (+€100m)

1. Provided for in regulatory mechanisms	4

Customer Solutions: proactive sell-back management	E.ON Q1 2020 results
and focus on operational excellence in bad debt steering

1 Covid-19 related sell-back volumes as of 30th April

	Share of 2020 volumes	… of which sold
	exposed to demand fluctuation	back to the market
GER	16%	9%
UK	13%	9%
NL	10%	7%

2 Key metrics for payment behavior as of 30th April

Government	Change of	Day of
intervention	payment behavior	sales
GER
UK
NL
unchanged/low	slight change/medium	worsened/high

• Total Group impact of Covid-19 related sell back volumes for 2020 currently at high double digit million € level.

• EBIT realization only with settlement of contract and thus only limited impact on Q1 earnings.

• Total Group write-offs for bad debt related to Covid-19 at a low double digit million euro level in Q1.

• No major change in payment behavior observed across E.ON markets

5