Rwe Ag · XETR:RWE
Rwe — Investor Presentation (November 2025)
12 slides from Rwe's investor presentation, Nov 18, 2025
Slide 1: RWE's promising position and opportunities in the battery business
18 November 2025 – 4 pm CET 60 minutes with RWE RWE’s promising position and opportunities in the battery business Investor Call Thomas Denny, Head of Investor Relations Dr. Hendrik Niebaum, Head of Group Controlling & Risk Management Dr. Hans-Günter Schwarz, Head of Battery Development Dr. Christop
Slide 2: Utility-scale batteries have outstanding prospects and are turning into a multi-billion-euro business
Utility-scale batteries have outstanding prospects and are turning into a multi-billion-euro business Three trends as main drivers Forecast for cumulative installed utility-scale battery Requires ca. €180 bn capacity in Europe1 Investment Decreasing Rising share of in GWh volume2 battery system inte
Slide 3: Batteries offer a wide range of attractive business opportunities
Batteries offer a wide range of attractive business opportunities Market products Grid stability products Frequency Supply Use cases Intraday Day-ahead Capacity Grid operations control Voltage control restoration Suitability for use cases ● ◕ ◑ ◕ ● ● ◔ High efficiency High efficiency Provision of Hi
Slide 4: Increasing price spreads as phases of oversupply alternate with phases of scarcity
Increasing price spreads as phases of oversupply alternate with phases of scarcity Germany: hourly day-ahead price profile Germany: yearly price spreads on a typical summer day1 in €/MWh2 Illustrative Hourly power prices (€/MWh) Day-Ahead Intraday auction Intraday continuous Power from renewables (1
Slide 5: Increasing forecast errors are pushing the growth of intraday markets and volatility
Increasing forecast errors are pushing the growth of intraday markets and volatility Germany: renewables forecast error Germany: renewables forecast error volumes on a typical summer day1 per year in TWh2 Illustrative Renewables forecast Renewables produced 15 +22% 14 Δ4 GWh forecast error 12 12 12
Slide 6: Batteries are the main beneficiaries of the expansion of renewables because they monetise price spreads
Batteries are the main beneficiaries of the expansion of renewables because they monetise price spreads Germany: Battery dispatch & hourly day-ahead price profile Illustrative on a typical summer day1 Hourly power prices (€/MWh) Renewables Power from other sources Buy electricity / charge battery wh
Slide 7: Financial transactions on continuous intraday markets further increase battery profitability
Financial transactions on continuous intraday markets further increase battery profitability Commercial optimisation Delivery period Trade at Trade at Trade at Planned battery dispatch of a 1 MW/1 MWh 11 am 12 am 1 pm battery in intraday 1st hour: 2 - 3 pm €40/MWh €60/MWh €40/MWh charge charge tradi
Slide 8: Cost and technological developments continue to increase competitiveness of batteries
Cost and technological developments continue to increase competitiveness of batteries Battery pack costs1 Energy density2 Growing modularity in US$/kWh, inflation adj. to 2024 in MWh/container and standardisation Lower is better Higher is better 5,5 800 5,0 700 4,5 600 4,0 500 3,5 400 300 3,0 200 2,
Slide 9: RWE has a strong position in the growing market for stationary battery storage systems
RWE has a strong position in the growing market for stationary battery storage systems Installed battery capacity in GW1; as of 30 Sep 2025 2.7 3.9 1.2 GW Europe/ total installed 1.7 battery capacity Australia worldwide US 1.1 1.2 Installed Under Installed capacity construction and under constructio
Slide 10: Germany is one of the key growth areas due to its market depth, massive renewables build-out and low market saturation
Germany is one of the key growth areas due to its market depth, massive renewables build-out and low market saturation Conditions for batteries vs. market depth1 2024/2025 Low market saturation1,2 X-Axis: Market depth indicated by peak load (in GW) indicated by utility-scale battery Y-Axis: Conditio
Slide 11: RWE: fast build-out in Germany against the backdrop of the expiry of grid fee exemption for new batteries in 2029
RWE: fast build-out in Germany against the backdrop of the expiry of grid fee exemption for new batteries in 2029 RWE’s battery capacity in operation and under construction in MW 600 1,349 400 220 117 5 7 2018 2022 2023 2024 2027 2028 Total Herdecke Herdecke Gersteinwerk Westfalen Gund- Westfalen 5
Slide 12: RWE leverages its core strengths for a sustainable competitive edge in the battery market
RWE leverages its core strengths for a sustainable competitive edge in the battery market Deep market Large conventional and Existing Experience in knowledge renewable asset portfolio re-useable sites implementation Enables us to develop Integration of our battery Leveraging the benefits of Utilisin