Credit Investor Presentation

RWE's credit & financial strength Key credit strengths 1 Integrated Business Model with 2 Diversified Generation Mix Highly Resilient Cash Flow Profile RWE 3 Strong Global Green Positioning 4 Favorable Market Trends 5 Prudent Approach to Green, Low-Risk Investments Solid Balance Sheet and 6 Investment Grade Rating • Diversified generation mix with growing RES platform and flexible generation strikes a perfect balance for the current energy market environment Natural portfolio hedge with combination of generation / trading supporting RWE top line during the European energy crisis c.70% secured / contracted green cash flow with >12 years weighted average remaining tenor Increasing share of more contracted RES cash flow over time with declining flexible generation Active in the renewables business for 20+ years: #2 offshore player globally and in US solar, #3 in UK wind and solar, #4 in US and Europe wind and solar Global development pipeline of >55 GW, o/w >65% RES Favourable policy tailwinds in the US, with the Inflation Reduction Act providing significant incentives for RES pipeline development and cleantech infrastructure investments European response to US IRA expected to provide a solid incentive framework in EU too Green growth programme (wind / solar and batteries account for c.90% of €50bn gross investments to 2030) Value over volume approach to green developments Stable and sustainable earnings backed by strong balance sheet Commitment to current rating and access to multiple sources of funding to optimize leverage RWE August 2023 Credit Investor Presentation Page 20

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