Annual General Meeting (2025 03 14 Key Points of Executive Board Report)

2024 was a good nancial year for MVV: Despite challenging conditions, we successfully asserted ourselves with our broad portfolio of products and services. We achieved excellent results, with adjusted EBIT of Euro 426 million. Apart from the exceptional 2023 nancial year, these are the second-best earnings since our IPO in 1999.

Dividend of Euro 1.25 per share

In view of the earnings performance in the 2024

nancial year, the Executive and Supervisory Boards propose to increase the regular dividend by Euro

0.10 per share to Euro 1.25 per share. That corresponds to a dividend yield of 4.0 percent for MVV's share. This way, we are again maintaining a balance between continuity on the one hand and aligning our dividend to our operating earnings performance on the other.

Stability in 2025 nancial year as well

With adjusted EBIT of Euro 122 million, we maintained our level of earnings in the rst quarter of the 2025 nancial year. We can conrm our forecast on this basis: From an operating perspective, we expect to generate adjusted EBIT of between Euro 350 million and Euro 400 million in the 2025 nancial year. In this, our broad-based business model will continue to provide stability.

Investments in energy system transformation

We further raised our pace of investment in the 2024 nancial year and invested a total of Euro 417 million, the highest volume since 2015. We will further step up our investments in the years ahead and additionally strengthen our foundation for sustainable and protable growth.

Shaping change with #climatepositive course

Combining climate protection and competitiveness to generate business success: That is the course which MVV has been pursuing for years now.

We see ourselves as shapers of sustainable change. Our goal of becoming #climatepositive by 2035 is the strategic compass guiding our transformation pathway - in the interests both of a climate- friendly energy system that is t for the future and of the MVV Group's long-term business success.

Further milestones in heat transition

We are converting all district heat generation for Mannheim and the region to green energy sources by 2030. We realised the rst stage of the expansion required for this heat transition in 2020 by connecting the energy from waste plant. In 2024, we completed the second stage with our rst river heat pump, phosphorous recycling plant, backup and peak load plants and our biomass CHP plant.

By issuing a call for tenders for a second, signicantly larger river heat pump, accessing geothermal energy and making preparatory plans to use industrial waste heat, we are already in the third and nal expansion stage needed to reach 100- percent green heat.

Transparency on future of gas grid

By announcing our goal of withdrawing from the gas grid by 2035, we became the rst company in Germany to openly and directly address the cost risks of natural gas and the resultant consequences. We are thus also accounting for the municipal heat plan of the City of Mannheim, which sets out the perspective of basing all heating on district heat and heat pumps. The legal framework for this targeted withdrawal is provided by the Internal Gas Market Directive, which has to be implemented in national law by August 2026. Only then will we be able to compile specic decommissioning plans. We support our customers in deciding on the heat solution that best meets their needs and, with our partners, inform our customers about planning, installation, subsidies and nancing options.

Taking a system-based approach to climate protection and competitiveness

Protecting our climate, ensuring a secure and

aordable supply of energy and making our energy system more resilient: These tasks are incumbent not only on our company, but on the country as a whole. We have to succeed in reconciling this process of transformation with our economic competitiveness. That means keeping the transformation costs as low as possible by taking a system-based approach and viewing the whole energy system as a single entity.