ANNUAL RESULTS 2020

Strategy and investments ESG Renewables Regulated France Generation and supply Consolidated sales Operational data and markets HINKLEY POINT C . • MANAGEMENT OF THE PANDEMIC Significant measures continue to be in place to ensure maximum safety for on-site staff and the local community while keeping the site operational, including an intensive testing program (c. 20,000 tests performed in Q1). HPC noted by Public Health England as industry 'best in class' in its counter measures during the pandemic response. Number of people working on site have increased from c. 5,000 to 6,000 in Q1 and are expected to continue to increase steadily. PROGRESS ON SITE Q1 - First low pressure rotor fully bladed achieved on time Q2 - Completion of the outfall tunnel drive → on track • REMINDER ON KEY DATA (1) In the context of Covid-19 pandemic, a detailed review of schedule and costs has been finalised in January 2021 to estimate the impact of the pandemic so far. This review has concluded the following (1): The start of electricity generation from Unit 1 is now expected in June 2026, compared to end-2025 as initially announced in 2016 The project completion costs are now estimated in the range of £2015 22 to 23bn (2). As a consequence, the projected rate of return (IRR) for EDF (different from the project IRR) is estimated between 7.1% and 7.2% (3)(4) The risk of COD delay of Units 1 and 2 is maintained at respectively 15 and 9 months. The realisation of this risk, for which the probability is still high, would incur a potential additional cost in the order of ₤2015 0.7bn. In this case, the IRR for EDF would be reduced by 0.3%. The agreements between EDF and CGN include a capped compensation mechanism between both shareholders in case of cost overruns or delays. Given the expected level of completion costs, this mechanism is applicable and will be triggered when the times come. EDF's published IRR takes this compensation mechanism into account. This arrangement is part of a Shareholders' Bilateral agreement signed between EDF and CGN in September 2016 and is subject to a confidentiality clause. The project's financing needs will exceed the shareholders' contractual commitment by the end of construction, which will lead the Group to assume, by the end of construction, a portion of the financing needs that is greater than its share which would lead to difficulties in financing the project in the event of a shareholder misalignment. EDF SALES FIRST QUARTER 2021 The first rotor was successfully manufactured. It is equipped with the largest ever last stage blade. The rotor will be part of the turbine generator which converts steam into electricity (1) See press release published by EDF on 27 January 2021 (2) Reminder on the costs previously announced in the Press release of 25 September 2019: £2015 21.5 - 22.5bn. Costs net of operational action plans, in 2015 sterling, excluding interim interest and excluding forex effect versus the reference exchange rate for the project of £1 = €1.23. Costs are calculated on 27 January 2021 by deflating estimated costs in nominal terms using the British Construction OPI - Output Price Index - for all new work. (3) In addition to cost and construction schedule targets, EDF's IRR integrates other structural assumptions. In particular, it is sensitive to inflation rate and electricity price scenarios following after the Contract for Difference (CfD) period. A 0.1% variation in inflation has an impact on the IRR of +/- 0.1%; a variation in post CfD electricity prices of £2015 10/MWh has an impact on the IRR of +/- 0.1%. (4) EDF's provisional IRR is calculated at the exchange rate £1 = €1.13. Previous IRR of 7.6% -7.8% based on an exchange rate of £1 = €1.15 20

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