E.on Se · XETR:EOAN
E.on — Non-Deal Roadshow (June 2023)
38 slides from E.on's roadshow presentation, June 2023
Slide 1: Nordic Debt Roadshow
Taking action now Nordic Debt Roadshow June 2023 Non-deal related
Slide 2: Highlights
Highlights 01
Slide 3: We are the green energy transition company
We are the green energy transition company Mostly regulated infrastructure business Long term contracted infrastructure business Diversified energy retail portfolio Energy Networks Energy Infrastructure Solutions Energy Retail ~€36.4bn ~19.5 TWh ~48m Regulated Asset Base (RAB)1 Heat, cooling and ste
Slide 4: Taking action now means accelerating our strategy
Taking action now means accelerating our strategy Growth Digitalization Sustainability 2022 2022 2022 • +40% yoy growth of network • 16.5m customers on upgraded digital • 108m tons CO2 saved with clients connection requests in Germany platforms • 44% share of green energy sales • +28% capex increase
Slide 5: Energy Networks
Energy Networks 02 ee : Se i { AAA
Slide 6: Energy Networks markets
Energy Networks markets Total RAB1,2 €36.4bn Power: €31.1bn Gas: €5.3bn FY2022 RAB €bn 23.3 4.9 8.2 Germany Sweden CEE3,4 and Turkey4 Power Gas Power and Gas 1. RAB is the value of all distribution assets determined by the regulator. In general, RABs from different regulatory regimes are not directl
Slide 7: Main drivers for E.ON's networks growth
Main drivers for E.ON’s networks growth RES built out 183 GW Network reinforcement Changing customer behavior ~1,600 MW Intel Chip factory 77 GW 2x ~250 MW 2030 Northvolt battery factory 2020 ~240 MW >100 GW Shell H2 Electrolyser RAB-effective RAB-effective RAB-effective capex capex capex €500-700m
Slide 8: Accelerated capex deployment in line with strategic ambitions
Accelerated capex deployment in line with strategic ambitions Capex 2022 Capex 2023-2027 >€1bn avg. annual increase ~€3.9bn1 ~€5.1bn1 p.a. p.a. ~€26bn total capex Energy Networks 99% EU taxonomy aligned2 2023-2027 Asset reinforcement Renewables build-out Changing customer needs Other (Power) Gas Oth
Slide 9: Customer Solutions
Customer Solutions 03
Slide 10: Customer Solutions
Customer Solutions Energy Infrastructure Solutions Energy Retail New Business We are decarbonizing cities and We are delivering sustainable, affordable We are providing new solutions that industries. energy while turning our customers into prepare for a carbon free society. actors of the energy tran
Slide 11: Energy Infrastructure Solutions markets
Energy Infrastructure Solutions markets FY2022 Business clusters Capex: €0.5bn City-quarter solutions based on EBITDA: €0.6bn local concepts FTE: ~6,200 Presence: 15 countries District heating and cooling networks in urban areas Industrial and commercial decarbonization solutions 11
Slide 12: Energy Retail markets
Energy Retail markets Total customers ~48m Energy Sales: Supply of electricity and gas Retail Solutions Customer accounts 14.4 9.1 million1 Germany United Kingdom 4.0 20.1 Netherlands Other2 and Turkey Power Gas Solutions Power & Gas Power, Gas & Solutions 1. Including at-equity participations 2. In
Slide 13: EBITDA growth driven by excellence in Energy Sales and value creation in Retail Solutions
EBITDA growth driven by excellence in Energy Sales and value creation in Retail Solutions EBITDA1 Energy Retail €bn Energy Sales Retail Solutions We drive We will create value in Retail excellence in Solutions 1.5-1.7 Energy Sales 1. Future Energy Home Services focusing on the energy system in homes
Slide 14: ESG
ESG 04
Slide 15: E.ON anchors sustainability within our governance processes
Strictly confidential | Do not share E.ON anchors sustainability within our governance processes – the ESG-rating performance is the result Ambitious ESG targets Governance and Leading in ESG-Ratings and commitments sustainable finance ESG transparency New remuneration Significant progress CO₂ Scope
Slide 16: E.ON on its way to achieve ambitious climate targets
E.ON on its way to achieve ambitious climate targets E.ON’s carbon footprint E.ON’s targets4 million metric tons 2030 2040 2050 3.71 Scope 1 2.88 3.90 -75% -100% Scope 2 1 3.38 103.58 Scope 3 2 -50% -100% 82.58 5 Avoided 107 emissions3 108 Science Based Targets Initiative (SBTi) has confirmed E.ON t
Slide 17: E.ON's sustainability performance highly ranked by ESG rating agencies
E.ON’s sustainability performance highly ranked by ESG rating agencies Rating: AA Rated on a AAA to CCC scale E.ON listed on High relative performance ESG Risk Rating: 23.8 (medium risk) Rated on a 0 to 40+ scale Rank 22 out of 84 in subindustry group Rating: 59 Scored on a 0 to 100 scale Rank 27 ou
Slide 18: Financing & Financials
Financing & Financials 05
Slide 19: Disciplined cash management ensuring green growth with debt factor target of ≤ 5.0x
Disciplined cash management ensuring that green growth will be delivered together with a debt factor target of ≤ 5.0x Disciplined cash management • Working capital excellence program successfully implemented Debt factor1 target of • Support from proactive cash collections during crisis ≤ 5.0x High e
Slide 20: Financial outlook
Financial outlook €bn Actual FY 2022 FY 2023 FY 2027 EBITDA1 6.9752 7.8-8.0 ~9.0 Energy Networks 5.459 6.0-6.2 6.5-6.7 Customer Solutions 1.686 1.8-2.0 2.3-2.6 Energy Retail 1.118 1.3-1.4 1.5-1.7 Energy Infrastructure Solutions 568 0.5-0.6 0.8-0.9 Corporate Functions & Other -0.170 ~-0.1 ~-0.1 Adj.
Slide 21: Sound funding strategy enabling sustainable green growth path
Sound funding strategy enabling sustainable green growth path Volumes Tenors Green bonds Currencies Diversification €2.5-5bn p.a. 3-30 years >50% EUR, GBP, others More instrument preferred variety • Bond • Optimize • Majority of • Predominantly • Regular and refinancing maturity profile funding via
Slide 22: Appendix
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Slide 23: ~80% of RAB effective investments in AAA rated countries
~80% of RAB effective investments in AAA rated countries Regional share of total RAB effective investments Power RAB development Local drivers €bn 6-8% • Renewable connections CAGR • Major customer projects ~27 2022-2027 ~68%2 Germany3 • Digitalization /modernization 19.0 AAA stable1 • E-Mobility /
Slide 24: Energy Networks Sweden — Business overview
Energy Networks Sweden — Business overview Sweden1 2021 2022 2021 2022 Grid length Grid conduct Power ('000km) 140 141 Wheeling volumes power (TWh) 37 34 Market share (%) 25 25 Wheeling volumes gas (TWh) Gas ('000km) - - RAB power & gas (€bn)2 4.8 4.9 Market share (%) - Major shareholdings E.ON Ener
Slide 25: Energy Networks Sweden — Regulatory environment power
Energy Networks Sweden — Regulatory environment power Overview Key cost factors Basics • Regulatory return (WACC) on RAB (pre-tax, real): 2.35%3 • Method: Revenue cap • RAB set once a period by the regulator based on standard prices applied to • Regulatory period: 2020-2023 recognized historic asset
Slide 26: New Business: pan-European public charging network
New Business: pan-European public charging network Ambition eMobility infrastructure portfolio 2023 Market position 6th Reach top 3 positions across our markets with strong partners until 2030 1 3rd 1 2nd 3rd E.ON Drive Infrastructure Assets Assets under local E.ON entities 1. Including assets in Jo
Slide 27: E.ON offers hydrogen and derivates via on-site solutions and supply
E.ON offers hydrogen and derivates via on-site solutions and supply H2 demand in the EU1 Our key business activities Selected partnerships Solution business TWh H2 generation Cooperation/Partnerships 730 Renewables Electrolyzer & Hydrogen refueling sourcing Storage station 259 Molecule supply busine
Slide 28: Energy Sales — Sweden
Energy Sales — Sweden Sweden 2021 2022 Power sales (TWh) 14.0 10.7 # of E.ON customers - power (m) 0.8 0.7 # of customers total market - power 5.5 5.5 (m)1 Gas sales (TWh) 2.4 1.7 # of E.ON customers - gas (m) 0.01 0.01 # of customers total market - gas (m)1 0.04 0.04 Our brands in the market: 1. La
Slide 29: Sustainability KPI – Environmental ambitions
Sustainability KPI – Environmental ambitions KPI 2021 2022 Target Scope 1: % -71 -261 CO2 footprint reduction -75 (2030)1 and -100 (2040) Scope 22: % -191 -301 [CO2eq emissions] Scope 33: % -141 -311 -50 (2030)1 and -100 (2050) EU taxonomy aligned capex4 % 98 97 >95% Share of renewable generation pl
Slide 30: Climate targets and progress on GHG emissions
Climate targets and progress on GHG emissions E.ON‘s progress GHG emissions development (million metric tons) Scope 1 Scope 21 Scope 33 -20% 103.58 3.32 1.36 82.58 -22% -13% 2.80 1.63 44.15 3.71 3.90 0.05 3.38 35.63 2.88 2.17 0.05 1.90 3.67 3.14 54.75 42.51 1.44 0.89 0.23 0.25 0.04 0.05 2021 2022 20
Slide 31: Sustainability KPI – Social ambitions
Sustainability KPI – Social ambitions KPI 2021 2022 Target Diversity: Female executives % 21 23 ≥ 32 by 2031 Index SIF1: 0.09 SIF1: 0.04 ≤ 0.07 by 2025 Health & safety Index LTIF2: 2.1 LTIF2: 2.1 People development: h/a 14.7 18.2 Training hours3 Community contribution €m 12 18 - Germany: min/a 22 24
Slide 32: Sustainability KPI – Governance ambitions
Sustainability KPI – Governance ambitions KPI 2021 2022 Target Share of female % 30 30 ≥30 Supervisory Board members1 Independent Supervisory % 100 100 100 Board members ESG included in Board - - Since 2022 included included remuneration 1. Refers to shareholder representatives 32
Slide 33: Green Bond Framework overview
Green Bond Framework overview: Framework structure in line with draft EU Green Bond Standard Process for selection of Management of Green assets and capex green assets and capex use-of-proceeds Reporting + External Verification • Electricity Networks (DSO) • All projects directly • E.ON strives to m
Slide 34: Green Bond categories
Green Bond categories Electricity Networks (DSO) Renewable Energy Energy Efficiency Clean Transportation Renewable energy production and Integrated on-site business and city EV charging stations and supporting All distribution infrastructure and storage including3 energy solutions, including but not
Slide 35: Extensive Green Bond allocation reporting
Extensive Green Bond allocation reporting1 1. Green Bond Report available here: https://www.eon.com/en/investor-relations/bonds/green-bonds.html 35
Slide 36: Maturity profile
Maturity profile E.ON Q1 2023 Results | Financial Appendix Bond maturities Benchmark bond maturities as of end @1 2023 €bn 13 10 0.0% 08 08 0.4% bed _ om 1f Tf a2 a4 qi @2 @3 2023 2024 2025 36
Slide 37: New compensation scheme for the Management Board
New compensation scheme for the Management Board came into effect on January 1, 2022 Target structure Maximum remuneration Base | Fixed amount, paid in twelve monthly rates 26-32% CEO: €10m OBM1: €5.5m 1 year period E.ON Board Malus and clawback Target Earnings per share 80% Compensation Plan up to
Slide 38: Disclaimer
Disclaimer This presentation contains information relating to E.ON Group (‘E.ON’) that must not be relied upon for any purpose and may not be redistributed, reproduced, published, or passed on to any other person or used in whole or in part for any other purpose. By accessing this document, you agre