E.on Se · XETR:EOAN
E.on — Debt Investor Presentation (June 2026)
23 slides from E.on's debt investor presentation, June 2026
Slide 1: Non-deal AUD Investor Update
Non-deal AUD Investor Update
Slide 2: Disclaimer
Disclaimer NOT FOR PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR IN ANY OTHER JURISDICTION WHICH SUCH PUBLICATION OR DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW. This presentation contains summary information relating to E.ON Group ('E.0N’) that must not
Slide 3: E.ON Representative
E.ON Representative Henryk Wuppermann Vice President Corporate & Structured Finance
Slide 4: We are the playmaker of the green energy transition in Europe
We are the playmaker of the green energy transition in Europe AdjcEBITDA ~<a) —~ ¥ AdjeEBITDA, share? —_ a ~8% | Share? Energy Networks Energy Infrastructure Solutions Energy Retail We operate the largest energy distribution grid in Industries and cities face major energy supply We are helping milli
Slide 5: Guidance: Adj. EBITDA, net income, EPS, dividend, capex
€bn FY 20251 FY 20262 FY 20302 Adj. EBITDA? 9.419 9.4-9.6 -13.0 Energy Networks 7.264 1.2-7.4 -9.8 Energy Infrastructure Solutions 0.588 0.60-0.75 711 Energy Retail 1.697 1.6-1.8 72.1 Adj. Net Income? 2.744 2.7-2.9 -3.8 EPS (€ per share)? €1.05 €1.03-1.11 -€1.45 Dividend (€ per share) €0.57 Up to 5%
Slide 6: We offer an unprecedented regulated growth trajectory
We offer an unprecedented regulated growth trajectory 0. ~76% with a clear strategic focus on power infrastructure Current Regulated Asset Base (RAB) FY 2025 Total RAB?? :€48bn Power: €43bn Gas: €6bn @ Power Gas Germany Sweden ( 58 ) ( 48 y CEE*S SEE*S Adj. EBITDA share? Projected power RAB developm
Slide 7: Energy Infrastructure Solutions: Delivering attractive and long-term secured returns
Energy Infrastructure Solutions: Delivering attractive and long-term secured returns in a diversified market set-up Core businesses District Heating & Cooling Heating and cooling networks in urban areas. We design, build, own, operate, and optimize the assets Industrial & Commercial Solutions On-sit
Slide 8: Energy Retail: increasing cash contribution
~16% Increasing cash EBITDA B2C margin4 contribution to ~€7.0bn1 within 3-5% target range +4% CAGR
Slide 9: Finance Strategy
Finance ‘ Strategy , PA
Slide 10: Updated guidance for 2026-30
it’s on us Updated guidance for 2026-30 • ~€48bn • ~€13bn • ~€1.45 • ~€43bn ~ €48bn up to 5% 10%
Slide 11: Strong and stable credit and issuance ratings (BBB+/Baa2/A-)
Strong and stable credit and issuance ratings (BBB+/Baa2/A-) A-/A3 — Fitch? S&P BBB+ / Baal Upgrade [->——————__._ — S&P —— Moody's Senior unsecured Long-term ratings BBB / Baa2 t 20 2021 2022 2023 2024 2025 2026 S&P Global f . Ratings ° Moobpy’s FitchRatings Issuer rating: BBB+ (stable outlook) Issu
Slide 12: E.ON executed approx. EUR 1.4bn in funding diversification outside of EURO Bond market
E.ON executed approx. EUR 1.4bn in funding diversification outside of EURO Bond market year-to-date Recent Funding Transactions Selected transactions 2024-25 August-2024 (O) Bond NOK 1,000m PP / EMTN August-2024 (O) Bond NOK 1,300m PP /EMTN January-2026 Bond EUR 1,600m EMTN Funding transactions 2026
Slide 13: Largest Distribution Grid operator in Europe
Largest Distribution Grid operator in Europe 75% regulated earnings, regionally diversified Strong organic growth opportunities Significant free debt capacity Issuer ratings (M/S/F): Baa2 / BBB+ / BBB+ (all stable outlook) Issuance ratings (M/S/F): Baa2 / BBB+ / A- E.ON intends to become a regular A
Slide 14: Thank you
Thank you @-ori
Slide 15: Appendix
Appendix
Slide 16: Our growing distribution networks are the backbone for a successful energy transition
Our growing distribution networks are the backbone for a successful energy transition E.ON Investment Plan 2026 - 2030 RAB-effective? Investment Split E.ON Capex Annual average 2026 - 2030 ~€48bni Milencowernen: of the energy transition 2026-2030 Grid modernization €7.26n Hl Gas = ~ Various distribu
Slide 17: Value creation spread of 150-200bps
• • • Value creation spread of 150-200bps2
Slide 18: Increasing investment program backed by strict value creation requirements
Increasing investment program backed by strict value creation requirements 2026-2030 Investments? Segment Energy Networks -€40bn Va ~€48bn Energy Infrastructure Solutions -€5bn Investment split -€36bn RAB-effective: GER 73% / SWE 11% / CZ 5% / Other 11% -€3bn network-adjacent & Other?: GER 100% 50%
Slide 19: Growth contributions across all segments, with emphasis on power grid investments
Growth contributions across all segments, with a strong emphasis on EBITDA growth from power grid investments Adjusted EBITDA? €bn Energy Infrastructure Solutions +6% CAGR — Underlying 2025-2030 0.62 9.60-0.75 +12%CAGR One offs Underlying -98 2025-2030 2025 2026 2030 Energy Networks 7.32 7.2-7.4 Ene
Slide 20: Strong BBB/Baa rating
Strong • BBB/Baa rating • €5-10bn extra balance sheet capacity in 2030 •
Slide 21: Capital market debt well diversified and substantially green
Capital market debt well diversified and substantially green Capital Market Debt? (in €bn) €15.0bn green bonds EUR Bonds EUR Private Placements USD 144A Bonds EUR Schuldschein (1) As per 31-Mar-2026. Based on nominal debt values. Additional information on key terms of benchmark bond transactions can
Slide 22: E.ON's Green Financing Framework updated in Q4 2025
E.ON's Green Financing Framework? updated in Q4 2025 Instruments Use of Proceeds B Management of Proceeds (@) Reporting Green bonds or other green financing instruments (e.g. Schuldschein, loans, among others) Electricity Network Assets and CapEx Full EU Taxonomy alignment Paris-aligned benchmark ex
Slide 23: Ambitious environmental targets form the basis for all our businesses
Ambitious environmental targets form the basis for all our businesses Ambitious ESG targets and commitments Governance ane eee Fu saaeS prestigious ratings’ Target 20301 2040 2050 E.ON progress": MSCI * Management AA (Leader score range) Scope1 -50%? “100% eon remuneration system Rated on an AAA to