Credit Investor Presentation

RWE's credit & financial strength Stable and sustainable earnings profile Gross margin 2021 2023 - 12+ years Weighted average remaining support tenor¹ Wind/Solar Gross margin split Wind/Solar Gross margin split Flexible generation Merchant 10% 30% CfDs/FiTs 1 Considers the current operating asset base as well as committed projects with COD by 2023 (under construction or with FID). Note: Merchant includes volumes to be hedged. RWE August 2023 Credit Investor Presentation 30% PPAs/Tax Credit 30% Certificates 70% Secured Capacity payments/ ancillary services Merchant 25% 35% D Merchant green 40% 65% free/low CO2 Page 24

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