Quarterly Financial Information at 30 September 2016

9M 2016 sales: €52.0bn, -3.1% in organic terms¹, in an adverse market environment

• Drop in electricity prices, especially in France and in the United Kingdom over the first nine months of the year
• Increased competition and end of Yellow and Green tariffs in France
• 2014 tariff adjustement recorded at end of September 2016, for around +€1.0bn²

Nuclear output in France penalised by additional controls, in particular on steam generators

• 287.1TWh, or -6.3% compared to the first nine months of 2015
• 2016 target: 378 - 385TWh³

Strategic developments

• Final investment decision for Hinkley Point C:
  Signing of the final contracts with the British government and CGN
• Launch of Sowee⁴ for residential customers in France:
  Smart hub associated with the Sowee natural gas contract with three-year fixed price per KWh
• EDF Énergies Nouvelles successful in calls for tender:
  - Major development in Latin America with 648MW of new projects in solar and wind power, or 1.4GW of projects in total in the region
  - “Provence Grand Large” 24MW project in France: innovative solution for floating wind farms
• Energy services:
  - Heating networks: 25-year contract with the urban community Grand Paris Sud
  - Industry: 7-year contract for multi-services to technical buildings with Aéroports de Paris Immobilier
• Disposal plan: start of exclusive negotiations with IFM Investors to sell EDF Polska’s cogeneration assets⁵, within the framework of CAP 2030 strategy and of the disposal plan announced on 22 April 2016
• Success of long-term bond issuances: about €5.4bn raised through a series of senior bond issuances in US Dollar (Formosa), Euro and Swiss Franc, with maturities ranging from 8 to 40 years

Financial outlook

• 2016 EBITDA6 target: 16.0 - 16.3 billion euros
• Ambition of a positive cash flow in 2018 after dividends, excluding Linky⁷, new developments and asset disposals maintained

 
<sup>1. At constant scope and exchange rates
2. Sales impact of the adjustment in regulated tariffs for the period from 1 August 2014 to 31 July 2015 following the French State Council’s decision of 15 june 2016
3. Please refer to the press release dated 3 November 2016 “2016 targets update”
4. Commercial launch of Sowee with the opening for subscriptions scheduled for end November 2016
5. A distinct sale process for the coal-fired Rybnik power plant (1.8 GW capacity) is ongoing and the EDF Group entered into exclusive negotiations with EPH
6. Including the impact of the adjustment in regulated tariffs for the period from 1 August 2014 to 31 July 2015
7. Linky is a project led by Enedis, independent subsidiary of EDF under the provisions of the French energy code</sup>