Creating the future of energy - Growth Focus
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Growth Focus Discipline Creating the future of energy http://www.energyfortomorrow.eu/ June 2018
Creating the future of energy
EBIT (€ bn)
• Focus: Europe’s first energy player with exclusive downstream focus ~51
• Unique downstream footprint: RAB and customer numbers rise >60%1
Enel2 Future Engie2 Nat. Grid2 Iberdrola2
• Earnings quality: network EBIT share rises to ~80%1 E.ON
• Strong synergies: fading nuclear earnings overcompensated by €600-
800m synergies ~371, 3
Regulated Asset Base (RAB € bn)
• Attractive dividends: aiming to deliver absolute annual dividend
growth Future Nat. Grid Enel Iberdrola Engie
E.ON
• EPS accretion: from second year after closing
Customer Numbers (m)
• Solid capital structure: high commitment to strong BBB rating ~501
• Limited cash impact: acquisition of RWE‘s 76.8% in innogy via asset
exchange; attractive offer to minority shareholders Future
E.ON
Enel Engie Iberdrola
1. Future E.ON pro-forma EBIT 2017 (innogy data based on public information), 2. Bloomberg Data, 3. RABs from 2
different regulatory regimes are not directly comparable due to significant methodical differences.
Creating two focused energy companies
Structure today
~77%
E.ON innogy RWE
Target structure
Future E.ON 16.67% RWE
3
Acquisition of innogy via innovative asset exchange
innogy Total equity value: ~€22bn Asset exchange (limited cash impact)
16.67% Stake in Future E.ON
(~€3.7bn) 1. Acquisition of RWE‘s 76.8% stake in innogy via asset
exchange
2. RWE to get in exchange:
E.ON & innogy Renewables • 16.67% in new E.ON via 20% capital increase against
& Renewables contribution in kind (authorized capital)
76.8%
Other Assets 11x EV/EBITDA
(RWE) • E.ON‘s and innogy‘s renewables businesses4
(~€13.5bn)1
• Additional assets: E.ON’s minority stakes in two RWE
operated nuclear power plants2, innogy’s gas storage
Innogy dividends (~€1.4bn) business and minority participation in Kelag
3. RWE receives innogy dividends for 2017 and 2018
Cash payment to E.ON (- €1.5bn)
4. Net cash payment from RWE to E.ON of €1.5bn3
Cash element
23.2% 5. Attractive cash offer to minority shareholder in innogy
Offer price and innogy dividend for
(Min. share- with total value of €40.00 per share (offer price (€36.76)
2017 and ’18 (~€5.2bn)
holders) plus FY 2017 dividend of €1.60 per share, plus expected
dividend of €1.64 per share for FY 2018)
1. Equity value for transfer perimeter, 2. Gundremmingen C (25% stake) and Emsland (12.5% stake), 3. Payment to balance asset valuation, 4. Excludes 20% in Rampion and 4
certain onshore capacity indirectly held by E.ON and innogy.
Transacting from a position of strength
E.ON today E.ON today (’17) Future E.ON (’17)
Group EBITDA
EBIT
€3.1bn1
Upper end of guidance
€5bn1 ~€8bn2
ANI
€1.4bn1
+58% YoY
END
€19.2bn1
Leverage target of 3.9x achieved
before monetization of Uniper
Energy Networks
~€23bn ~€37bn
RAB1, 4 RAB2, 4
Payout ratio increased 2x since
Dividend
start of new E.ON
Customer Solutions
Mid-term
Growth
3-4% EBIT CAGR3
5-10% EPS CAGR3
E.ON
standalone >31m ~50m
Regulated Non-regulated
Customers1 Customers2
1. E.ON standalone 2017 reported, 2. Future E.ON pro-forma 2017 (innogy data based on public information),
3. 2018-2020 based on existing portfolio (E.ON standalone), 4. RABs from different regulatory regimes are not 5
directly comparable due to significant methodical differences.
Unique downstream position across Europe
Excludes npower UK customers subject
to transaction with SSE
Energy Networks (RAB)
Sweden1
UK Customer Solutions (number of customers)
~€4bn ~1m
- ~7m1
NL/BE
CEE3
- ~4m2
~€11bn4 ~13m
Germany3
Turkey1
~€20bn ~14m
~€1bn ~9m
1. E.ON 2017 reported, 2. innogy
2017 reported, 3. Future E.ON pro-
forma 2017 (innogy data based on
public information), 4. RABs from Southern Europe
different regulatory regimes are not
directly comparable due to significant - ~1m3 6
methodical differences.
Focus, scale and efficiency pre-requisite for success
Mega trends accelerate and reinforce each other
Empowered
• Future E.ON’s unique downstream positioning fully
customers
captures benefits of energy mega trends
Focus, scale and efficiency needed
Digitization in New Energy World
New culture & Electrification
capabilities • Creating markets for customers through our
products, services, technologies
• “Go to” partner for politicians and regulators in
designing the energy transition
De-
• Combining innovation power to enhance
carbonization
development of state-of-the-art products
• Synergies improve cost position and roll-out speed
• Innovative services levered on significantly higher
customer number
7
Acceleration of strategy execution
Unique strategic position
• Focus on high-performance
regulated networks and
state-of-the-art customer
solutions
Position of strength
• Reduction of portfolio
complexity
• Enhanced earnings quality:
~80% of EBIT1 is regulated
• Aiming to deliver absolute
Transition year
• Robust portfolio
annual dividend growth
Spin-off Uniper
• Strong financial & operational delivery
& reset of E.ON
• Balance sheet headroom
2016 2018 2020 and beyond
1. Future E.ON pro-forma 2017 (innogy data based on public information). 8
Value creation for shareholders
Realization of valuation premium Potential for
12
premium
11 valuation
Renewables innogy acquisition at ~10x
1011x EV/EBITDA EV/EBITDA
9
8
Instant Platform Shareholder
7 redeployment of for high value
capital Synergies
6 creation
(€600-800m)
5
4
3
Renewables1
1. Enterprise value (schematic) 9
Integration of innogy provides for strong synergy potential
Estimated synergies (€ m)2 Synergy focus1, 2
Corporate Functions & IT
€600-800m Energy Sales & Customer
Solutions
~100% Energy Networks
~55%
~25% • Strong synergy potential of €600-800m
• 10-15% of controllable costs
~5%
• ~5000 FTEs affected (~7% of employee
base)
2019 2020 2021 2022
1. Synergy split (€ million), 2. Future E.ON pro-forma 2017 (innogy data based on public information). 10Attractive earnings & dividend profile secured long-term
EBIT development3
Synergies to over-compensate
Share of regulated network earnings (EBIT)
6 fading nuclear earnings
E.ON today Future E.ON
5
4
~65%1
3
~80%2 2
1
0
2018 2019 2020 2021 2022
Regulated Non-regulated
E.ON stand-alone Enlarged E.ON
1. E.ON 2017 reported, 2. Future E.ON pro-forma 2017 (innogy data based on public information), 3. Schematic illustration. 11Future E.ON‘s key financials
EBITDA ~€8bn1 Energy Networks
~80% Customer Solutions
regulated2 Non-Core
EBIT ~€5bn1
EPS EPS accretion from second year after completion
Aiming to deliver absolute annual dividend growth
Dividend
(fixed dividend for 2018: €0.433)
1. Future E.ON pro-forma 2017 (innogy data based on public information), 2. Future E.ON pro-forma EBIT 2017 (innogy data based on public information), 12
pie chart does not account for corporate functions & others, 3. Fixed for FY2018 (paid in 2019).Pro forma economic net debt
E.ON today1 (€ bn) Future E.ON2, 3 (€ bn)
Includes:
~35
• Acquisition of 23.2% minority shares
• €1.5bn cash payment from RWE
~€2.8bn debt Further deleveraging measures
~19.2 to be realized in ‘18 (€
( bn))
transferred to RWE
~5.0
+ Monetization of Uniper shares
~3.6 • Nuclear provisions: ~€0.9bn ~5
• AROs (Renewables): ~€0.9bn + Transfer of NS14 into CTA
• Tax equity liabilities
~10.6
(Renewables): ~€0.6bn
• Pension provisions
Economic Net (Renewables): ~€0.4bn Economic Net
Debt 2017 Debt 2017
Net financial position Provisions for pensions Asset-retirement obligations
1. E.ON 2017 reported, 2. Future E.ON pro-forma 2017 (innogy data based on public information), 3. E.ON will address structural subordination post closing, 13
4. Nord Stream I stake.Investor agreement with RWE ensures equal treatment of
shareholders
Preamble • RWE to act purely as financial investor
Corporate
• Right to nominate one Supervisory Board member
Governance
Shareholder • Not allowed to increase stake above 16.67%
structure and rights • Not allowed to sell to an E.ON competitor
14Clear path to obtain full control, irrespective of PTO acceptance rate
2018 2019 2020 2021
1st Closing 2nd Closing
Voluntary public • E.ON becomes ≥76.8% • Transfer of E.ON and innogy RES Assets
takeover offer (PTO) shareholder in innogy • Transfer of Kelag participation and gas storage assets of
(late April – early July) • RWE becomes 16.67% innogy
shareholder in E.ON (20%
Extended offer period capital increase)
(mid July) • €1.5bn cash payment to E.ON1
• Transfer of other assets2
Antitrust approvals
Full legal integration
Integration & synergies
1. Payment to balance asset valuation, 2. Transfers of E.ON minority shares in the two RWE-operated nuclear power plants Gundremmingen (25% stake) and 15
Emsland (12.5% stake) to RWE.Transaction Update 1 – Official offer period has started
Highly attractive offer for innogy minority shareholders Alternatives for innogy minority shareholders that do not tender
• Compensation payment based on IDW S11
• Total offer value €38.40 (= €40.00 pre 2017 valuation in case of DPLTA2 or squeeze-out or
dividend of €1.60 paid in April 2018) • “Guaranteed dividend” in case of DPLTA or
• 28% premium to innogy’s last share price • Shares in merged NewCo
unaffected by general takeover speculations
Compensation payment could be lower than offer value
(22 February 2018)
In DPLTA case synergy value will not be considered
• 23% premium to average broker target price before
Guaranteed dividend could be structured akin to a bond
announcement
with yield reflecting current low interest rate environment
• Offer value reflects value of innogy stand-alone and
Shares in NewCo No cash compensation at all
part of the potential synergies resulting from full
integration into E.ON E.ON will have control post closing,
irrespective of offer acceptance rate
Incentive structure for high acceptance rate in place
1. Valuation standard of the Institute of Public Auditors in Germany, 2. Domination and profit and loss transfer agreement 16Transaction Update 2 – Merger control proceedings
Simplified overview of process steps of EU merger control proceedings
(possible (partial) referrals to national authorities not taken into account1)
Presentation of potential concerns
Not before mid-2019
≈ May 2018 regarding market segments Expected EU Commission
clearance decision
Phase I Phase II
Preparations Pre-notification
(25 working days) (90 working days + extensions)
• Drafting • Discussing draft • Assessing • Analyzing market segments in detail
notification notification, notification
documents responding to • Negotiating potential conditions
• Obtaining additional
information requests
information requests
• Finalizing notification
1. Federal Cartel Office Germany, CMA, CEE 17Investment highlights
Starting from position of strength:
Creating the future of energy
Growth Aiming to deliver absolute annual dividend growth
Focus Unique downstream positioning with ~80% regulated earnings1
Renewables value crystallization and €600-800m synergies
Discipline High commitment to strong BBB rating
1. Future E.ON pro-forma 2017 (innogy data based on public information). 18Growth Focus Discipline
Q1 2018 Results
E.ON standalone
May 8th, 2018E.ON standalone
Strong Q1 2018
Highlights Key Financials1
€m
1,715
Strong EBIT development: +24% Q1 2018 vs.
low base in Q1 2017 1,517
1,284
Adj. Net Income increased +38% YoY
1,038
FY 2018 guidance confirmed:
EBIT €2.8-3.0 bn, Adj. Net Income €1.3-1.5 bn 727
525
Voluntary PTO2 to innogy minority shareholders
formally launched
EBITDA EBIT Adj. Net Income
Q1 2017 Q1 2018
1. Adjusted for non operating effects, 2. Public Takeover Offer. 20E.ON standalone
Operational update
Energy Networks Germany Customer Solutions Germany/UK
• OLG1 court decision on allowed RoE2 • Customer numbers continue to grow
• Ruling: 6.91% set by BNetzA too low • More than 50,000 additional household customers
• Independent expert view: 7.7% adequate in Q1
• BNetzA: appeal at last resort BGH3 • Following gain of more than 100,000 in Q4 2017
and stabilization in Q2 & Q3 2017
• General efficiency factor gas • Managed to reduce churn rate below market
• Reduction from 1.5% to 0.49% average in UK
• However, E.ON filed legal complaint • Strategy of innovative tariff offerings and focused
• Calculation method too unreliable sales channels is bearing fruits
• General efficiency factor power • UK political environment disappointing
• Decision by BNetzA in Q3 at the earliest • Price cap still pending, many uncertainties remain
1. Higher Regional Court of Düsseldorf (Oberlandesgericht – OLG), 2. Return on Equity, 3. German Federal Court of Justice (Bundesgerichtshof – BGH). 21E.ON standalone
EBIT 24% above prior year
EBIT1 Q1 2018 vs. Q1 2017 Key Q1 Effects
€m
Energy + Sweden: power tariff increase
Q1 2017 1,038 Networks + Turkey: regulatory improvements
– Germany: reversal of regulatory effects,
Energy concession loss Hamburg
-36
Networks
Customer + Germany: price increases as per Q2 2017,
Customer Solutions lower gas procurement costs Q1 2018
73
Solutions – UK: competitive dynamics, restructuring costs
overcomp. price increases as per Q2 2017
Renewables 11 +246
Renewables
Corp. Functions
+ Onshore & Offshore: capacity additions
& Other, 65 (mainly Bruenning’s Breeze & Radford’s Run)
Consolidation – Onshore: subsidy expiries
Non-core 133 Non-Core + PreussenElektra: increased volumes due to
plant outages in Q1 2017 (mainly Brokdorf),
Q1 2018 1,284 positive one-off effects
+ Turkey: omission of book loss from asset sale
1. Adjusted for non operating effects 22E.ON standalone
Adj. Net Income 38% above prior year
Q1 2018
€m
Group EBIT1 1,284
Interest on ~€ 20m improvement yoy mainly due to refinancing
fin. assets/ -156 benefits, partly compensated by lower interest income
liabilities2 from asset portfolio
Other interest
-21
expenses
Profit before 1,107
Taxes1
Income Taxes -277 Tax rate of 25% (stable yoy)
Minorities -103
Adjusted
727
Net Income1
€0.34 EPS (€ per share)
1. Adjusted for non operating effects, 2. Without interest accretion of nuclear provisions . 23E.ON standalone
END impacted by seasonally low operating cash flow
END1 Q1 2018 vs. FY 2017
€ bn
-0.4
-10.6
-10.7
-2.9
Liquidation of pension
-3.6
scheme results in reduction
of pension provisions –
limited effect on END
-5.0 0.1 -6.0
-19.2 -0.7 0.2 0.7 -0.7
0.1
-0.1 -19.7
END FY 2017 OCF Investments Divestments AROs Pensions Other Other END Q1 2018
(CTA2 Funding) (Remainder)
AROs Pension provisions Net financial position
1. Economic net debt definition takes into account the decommissioning provisions calculated with a real discount rate of 0.0% as opposed to IFRS AROs, 24
2. Contractual Trust Arrangement.E.ON standalone
Outlook 2018 confirmed
Outlook 2018 Effects for the remainder of 2018
Energy + Sweden: power tariff increase
Networks – Germany: reversal of regulatory
€2.8-3.0 bn effects, new regulatory period for gas,
concession loss Hamburg
Customer + Germany: non-reoccurrence of a
EBIT1 Solutions negative one-off effect in 2017
– Germany & UK: restructuring costs
– UK: competitive dynamics
Renewables + Offshore & Onshore: capacity additions
(Bruenning’s Breeze, Radford’s Run,
Rampion)
€1.3-1.5 bn – Onshore: subsidy expiries
Adj. Net
Non-Core
Income1 +/–
+ PreussenElektra: non-reoccurrence of
one-off effects from 2017
– PreussenElektra: lower hedged prices
1. Adjusted for non operating effects 25Appendix
Growth Focus Discipline
E.ON Group
E.ON standaloneE.ON standalone
Delivering step by step – Strategy & Operations
Portfolio reset completed New culture & capabilities Operational excellence
• €3.8bn Uniper disposal: • ~€1bn total contract value • + ~500MW onshore wind
decision to accept Fortum’s in B2B new solutions in US in 2017
offer (2017)
• + ~130k customer in
• De-risking: transfer of • ~200% sales growth in Q4 ’171 – turn-around
nuclear storage liabilities to PV/battery: fastest achieved
government growing solar company in
Germany • €400m delivery of Phoenix
• €0.2bn proceeds: performance program
successful IPO of Enerjisa’s • Innovation & digitization:
downstream business successful launch of new • ~€0.6bn nuclear
products decommissioning savings
secured
• E-mobility: gaining traction
1. Germany and UK 28E.ON standalone
Each pillar with focused and disciplined growth
Customer Solutions Energy Networks Renewables
Total Customer # E.ON power RAB E.ON operated capacity
+~2m +~€2-3bn +~2GW
~€21-
~24m ~8GW
22bn
~22m ~€19bn ~6GW
2017 2025 2017 2020 2017 2020
• Energy sales: reinvent with • Grow & sustain RAB • Onshore: grow at scale
profitable customer growth • Develop transformative platform • Offshore: leverage existing
• New solutions: rapidly scale up • Drive adjacent businesses options
• Heat: leverage existing positions
29E.ON standalone
Attractive stand-alone profile
EBIT growth EPS growth Dividend growth
Aiming to deliver
absolute annual
dividend growth
Group CAGR: +5-10% +40%
+3-4% CAGR
~8GW
5.3GW
€2.8 – €0.60 –
3.0bn 0.70
2017 2020 €0.30 €0.431
Core CAGR:
+5-6%
2018 2020 2018 2020 2017 2018
1. Fixed for FY 2018 (paid in 2019). 30E.ON standalone
E.ON‘s guiding principles
Absolute annual dividend Sustainable & resilient
Drive value creation
growth EPS growth
Operational Capital
Customer-led Digitization
excellence discipline
31E.ON standalone
Strong delivery of financial targets
Deleveraging achieved:
EBIT1 vs. guidance Adj. Net income1 vs. guidance
significant reduction of END
€2.7- €2.8- €1.2- ~€7bn
€3.1bn €3.1bn €1.4bn
€3.1bn €3.1bn €1.45bn €26.3bn
€0.6-
€0.9bn €19.2bn
€1.0bn
5.3x
3.9x
2016 2017 2016 2017 2016 2017
Guidance range
1. Adjusted for non operating effects. 32E.ON standalone
Deleveraging creates balance sheet headroom
Economic net debt
€ bn Hybrid Scrip dividend
26.3 cancelled cancelled
21.5
19.2 19.2
~5.3x
EBITDA ~4.4x ~4.0x
~3.9x ~3.9x
EBITDA EBITDA
EBITDA EBITDA
~3.0x
EBITDA
FY 16 Q2 17 FY 17 FY 17 Post headroom Mid-term
deleveraging target
Achieved (€ bn) To be finalized (€ bn)
+ Nuclear fuel tax ~2.9 + Monetization of Uniper shares
+ Accelerated Book Build ~1.4 + Transfer of NS11 into CTA
~5
+ Nuc. decommissioning cost savings ~0.6 + Nuc. decommissioning cost savings
+ Additional measures ~0.6 and additional measures
1. Nord Stream 1 stake. 33E.ON standalone
Disciplined capex drives EBIT growth
Old plan ~€8bn net capex1 New plan ~€9.5bn net capex1
~20%
2017 2018 2019 2018 2019 2020
EBIT flat within range (€ bn) EBIT driven up by additional capex (€ bn)
Core EBIT
CAGR ~5-6%
3.1
Group EBIT CAGR
~3-4%
2.8
2018 2019 2020 2018 2019 2020
34
1. Capex net of divestments.E.ON standalone
Capex split 2018-2020
Capex1 2018 Capex1 2018-2020
Increase in capex drives the
Growth 5-6% EBIT growth target of
the core business
~€ 3.5bn ~€ 9.5bn
1.0
26% 25% Segments have to
1.0 compete for capital and
Focus against other uses of
funds
Strict adherence to return
1.5 49% Discipline targets (ROCE 8-10%)
Energy Networks Renewables Customer Solutions
1. Capex net of divestments. 35E.ON standalone
Sustainable performance - Phoenix & beyond
Phoenix measures fully implemented Fokus (Ger) & SWAT (UK) next wave
Gross savings to
Restructuring costs (upfront)
~270m 400m offset margin
EBIT contribution pressure
~€120m savings
~130m
~£100m savings
2017 2018 Total
2018 2019 2020 beyond
2020
Performance culture to be sustainably embedded Already embarked on the next efficiency projects
across all functions
• Focus on central overhead and support functions • Focus on business operations
• Digitalization to improve processes and customer • Fokus (CS Ger) & Swat (CS UK) target to fully
experiences off-set margin pressure
• Make business model future proof
36E.ON standalone
Group guidance FY 2018
EBIT 2017 EBIT1 (€ bn)
€3.1bn Includes ~€100m restructuring costs
3.0 in Customer Solutions (UK, Germany)
2018 Guidance
2017 Actuals
2.8
Adj. Net Income 2017 Adj. Net Income (€ bn)
€1.4bn
1.5
1.3
Guidance range
1. Adjusted for non operating effects. 37E.ON standalone
Delivering step by step – Attractive dividends
Absolute dividend growth 2018: Fixed Dividend
Aiming to deliver absolute
annual dividend growth
€0.431
€0.30
€0.21
FY 2016 FY 2017 FY 2018
Dividend Dividend Dividend
1. Fixed for FY2018 (paid in 2019). 38E.ON standalone
E.ON FOCUS – medium-term framework
Our basis for steering the company
Capital Structure
Strong BBB/Baa
Return
ROCE1
Dividend
8 – 10 % EBIT3 EPS3,4 Payout
Fixed dividend: €0.435
Group Group Absolute
+ 3-4% + 5-10%
Cash dividend growth
Cash conversion rate2
≥ 80 %
Executive Compensation
Closely linked to EPS target achievement and relative TSR4 (in addition: share ownership obligations)
1. Based on EBIT (= pre-tax), 2. OCFbIT divided by EBITDA, 3. Adjusted for non-operating effects, FY 2018 guidance range as basis for medium-term
outlook 2018-2020, 4. Total Shareholder Return, 5. Fixed for FY2018 (paid in 2019).
39E.ON standalone
Investment highlights
From deleveraging to focused and disciplined growth
Deliver sustainable EPS growth and
Growth aiming for absolute annual dividend growth
Focus Management team with strong shareholder focus
Discipline Strict capital discipline and high-performance culture
40Growth Focus Discipline
Energy Networks
E.ON standaloneE.ON standalone
Energy Networks - The heart of E.ON
Regulated asset base 20171 Grid length (‘000 km) 1
Sweden Germany ∑ Grid length: 976
€4.0bn €10.7bn ∑ Grid length: 107
490
349
~€23.1bn2 137
60 2
CEE & 45
Turkey Germany Sweden CEE & Turkey
€8.5bn3
EBIT4 2017 Market share (%)
Sweden ~75% of
€0.5bn group
core 71
~€1.9bn 32
CEE & 19 25 27
12
Turkey Germany Power and gas business
€1.1bn Germany Sweden CEE & Turkey5
€0.4bn Power business only
Power Gas
1. 100% view for Slovakia and Turkey, 2. Differences may occur due to rounding, 3. In Hungary the RAB has been increased in 2017 by €2.8bn due to a system change 42
towards replacement costs. It was €1.5bn before, 4. Adjusted for non operating effects, 5. Arithmetic average.E.ON standalone
Energy Networks - Higher capex leads to power RAB growth
Germany Sweden Czech Republic
Power RAB Power RAB
Power RAB
+12-16%
+6-10% +11-15%
~€8bn ~€3.8bn ~€1.4bn
2017 2020 2017 2020 2017 2020
43E.ON standalone
Multi-decade RAB growth engine
Energy Networks capex1
€1.7 – 1.8bn
Cautious planning
+€300m – • Main driver is additional replacement
€400m investments
• Conservative assumptions on Renewables
and E-mobility roll-out
€1.4bn €1.4bn
Potential upsides to “new normal”-level
• Acceleration of Renewables build-out
• Smart meter
Disciplined & gradual
• E-mobility
ramp-up • Electrical heating
• Digital layer & fully digital equipment
2016 2017 Beyond 2020
“New normal”
1. Excluding Slovakia and Turkey. 44E.ON standalone
Major transformation in Energy Networks
Future energy network system will need to combine Energy Network player
different layers of infrastructure From To
Data center Energy network operator Holistic system provider
EMS Platforms
Digital layer
VPP Smart Home
Network
control
center
Local grid
Asset control control
systems
Wifi Antenna
cation layer
Communi-
Smart Meter
Single layer
Infrastructure ecosystem
infrastructure (energy)
Cloud Block chain
Decentral, connected
Physical linear network
multi-layer infrastructure
Physical
layer
More (semi-) autonomous
Centralized system
local energy systems
45E.ON standalone
Turkey with extraordinary high RAB growth
Downstream Business Market & Regulation RAB development
Established in 3 high-growth regions Constructive regulatory environment:
in bn TL, nominal
Leading electricity network operator: − Allowed WACC for 2016-2020
regulatory period has been >2x
− 10.5 m connections
increased to 13.6% from 11.9%
− 220,000 km network length 5.3
(pre-tax, real)
(20% of market) 3.8
− Incentives to outperform capex,
Regions opex, and theft & loss allowances
High network investment due to:
Istanbul Ankara
− Strong power demand growth of 2016 2017 2020
>4% p.a.
Target to more than double
− Need for significant network 2016 RAB by 2020
Adana
modernization
Strongly growing market with highly attractive returns
46E.ON standalone
Operational excellence – digitization in practice
Digital workforce Asset replacement decisions
Introduce digital application used by every field worker
Conventional approach Predictive maintenance
comprising all functionalities necessary in the daily work
Tool
Data driven decisions to
Expert judgement and local
prioritize replacement
experience
activities
Providing a smooth user experience Transparent and effective capex allocation
Impact
Low double digit million € added value p.a.
6-12 % productivity gains
potential after full roll-out
47E.ON standalone
Aspiration to develop the platform for energy transition
Further decentralization and
fragmentation lead to a need for
local rebalancing P2P Regional
Trading Energy
Flex- Local System
Markets Energy
System
Increasing system responsibility Transformative Platform
assumed by regional or local network
operator
Energy transition is and will be happening essentially at the DSO-level
48E.ON standalone
Opportunities in adjacent businesses - Broadband
A Growing from existing assets B Entering Fiber-to-the-Home (FttH) market
E.ON's existing fiber-optic infrastructure
E.ON's new fiber-optic infrastructure
Fiber-optic
cables
in every street
Telco X's and to every
backbone household
Mobile cell tower Business
building
Point of Presence Local
Enterprise (Switch between Network transformer
customer's data backbone and operations station
center access network) center
Extension of existing business New business concept in development
49E.ON standalone
EBIT outlook – Stability despite two major regulatory reviews
Lower allowed returns • Lower allowed returns reflect lower
bond yields
• Benefits from maturing legacy
bonds to be attributed to Energy
Higher RAB Networks driving EPS growth
€1.9bn
Positive one-off
German pension cost pass
through
EPS growth
+5-10% p.a.
€0.60 –
0.70
2018 2020
2017 2018 2019 2020
50Growth Focus Discipline
Customer Solutions
E.ON standaloneE.ON standalone
Energy sales is the anchor of customer solutions
Customer focused portfolio E.ON’s market positions Energy Sales is the anchor business
EBIT3 2017 €526m Energy Sales EBIT4
B2B
Heat &
New B2B
Solutions ~25%
Customer B2C
Energy B2C
Top 3
~75%
Sales
B2M
Top 3
Energy Sales: 22m1 customers in Top 3
Top 3
High customer loyalty
8 countries Top 3
Top 2 Customer tenure4 < 2y
B2M/Heat: 10% market share in Top 3
Germany & Sweden Top 10
B2B Solutions: ~€1bn TCV2 in > 5y
2017 2-5y
1. Excluding Turkey, 2. Total Contract Value, 3. Adjusted for non operating effects, 4. B2C customers in Germany and UK. 52E.ON standalone
E.ON is leading the transformation of energy sales
Standard tariff customer numbers declining Attractive products
Innovative and green tariffs
7 6.3m complemented by smart meter
rollout
accounts in m
6
Customer
5 Turnaround in
4 customer numbers Protecting
revenues
Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17
UK SVT customers UK B2C customers
Focused sales channels
2016 year of peak margins1
8
6
UK Rigorous cost focus Increasing
% margin
4
2 Reduce cost to acquire and cost EBIT into
to serve dramatically next decade
2013 2014 2015 2016 2017
1. Final figure for 2017 not yet available: ~5%. 53E.ON standalone
Increase customer attraction while reducing cost to acquire
Product offering and selection of sales channels lead to… …increase in customer numbers…
200k innovative tariffs sold since June 2017 ~24m
Tariff innovations
> 5,000 E.ON Plus products (devices as add-on to
tariffs) sold ~22m
18% of our customer base with add-on services
2017 2025
+100% value-add services contracts in 2017
…at the same time reducing costs to acquire
Scale sales cooperations with big retailers (e.g. Lidl)
Sales channels
• Innovative tariff offering
• Focus on earning customers’ loyalty
Sales push in digital
• From broker site to own website e.g. GER, UK, SWE
Home move journey as acquisition channel
Physical channel Digital channel
54E.ON standalone
Closing the gap - Cost to serve to be reduced dramatically
Measures to reduce cost Efficiency programs Cost to serve ambition
to serve €/customer account
Other Fokus
Metering &
Installation Smart Meter ~€120m savings
Debt Rollout
resolution
Servicing
SWAT
and
Backoffice
~£100m savings
E.ON E.ON ambition
Components of
cost to serve1
Tackling cost to serve and overall cost efficiencies to support earnings
1. Example UK 55E.ON standalone
Re-inventing our customer business with the digital attacker
CostE.ON standalone
New Solutions - Strive for leadership with innovative products
B2B B2M B2C
District heating PV + battery
Decentral generation
Product offering
Energy efficiency
City quarter solutions Smart home
Flexibility & storage
Integrated city energy solutions Smart meter
Digital energy solutions
E-mobility
EBIT margin > 10%
Ambition
2025
EBIT1 ~€250-300 m EBIT1 ~€200 m EBIT1 >~€50 m
1. Adjusted for non operating effects 57E.ON standalone
B2B - E.ON to become a leading Energy Service Company in Europe
Ambitious organic growth of TCV1 … …to translate into EBIT2 over time
~ €250-300m
~>2 x ~+25% CAGR
~2 x
2016 2017 … 2020 2025 2016 2017 2020 2025
Become a leading Energy Service
Company
Decentral Energy Flexibility & Digital energy
generation efficiency storage solutions
1. Total Contract Value, 2. Adjusted for non operating effects. 58E.ON standalone
B2M – E.ON is a reliable partner for cities and communities
Investments with low risk and high return Project examples
Capex2 2018-2020
ROCE > 10%
> €250m capex project close to
Stable (long-term) earnings ~€ 800m Stockholm, COD 2019
Högbytorp, Stockholm
15-20 year contracts 100 MW CHP district heating
network extension and biogas as part
of a circular economy project
E.ON to benefit from market trends and investments
Heat EBIT3 €m
~€200m Can provide heating and cooling for an
entire city, optimising excess heating and
cooling
ectogrid™ First ectogrid under construction in Lund,
Sweden
2017 2025
Sweden Germany UK
Patented global solution - available to be
sold and integrated in other cities
1. Germany, Sweden, UK, 2. Capex net of divestments, including investments for Högbytorp, 3. Adjusted for non operating effects. 59E.ON standalone
B2C - E.ON drives the electrification of the home and mobility
E.ON product offering for the electrification of home Translating into decent EBIT in the next decade
EBIT1 €m
PV + battery E.ON Plus +
E.ON SolarCloud smart meters
E-mobility Home
solutions heating
Example: PV + battery growth story
PV + battery units sold
E.ON – the fastest ~€50m
growing solar
~3x
company in Germany
~5x
2015 2016 2017 … 2025 2017 2025 beyond
1. Adjusted for non operating effects 60E.ON standalone
Disciplined investment plan to support growth opportunities
Temporary high investments for smart meter & IT Medium-term EBIT development
Capex1 2018-2020 €2.4bn Customer Solutions EBIT2 2017-2020
Asset-backed
investments
Other
€526m
E-mob Restructuring
Heat &
New charges
Heat & Solutions
IT &
efficiency B2B projects
Energy
Sales
Smart
Partially meter
temporary
2017 2018 2020 … 2025
1. Capex net of divestments, 2. Adjusted for non operating effects. 61Growth Focus Discipline
Renewables
E.ON standaloneE.ON standalone
Position of strength
~4 GW1 ~3 GW1 Highlights
€0.5bn EBIT 2017
(~18% of core EBIT)
Stella Arkona
~95% Long-term contracted
Rampion or hedged until 2020
Morcone 1
Strong track record with
~7 GW1 delivered
1.4 GW1 0.2 GW1
Under construction: 0.6 GW1 0.2 GW1
Active in 3 technologies and
~ 1GW batteries
0.3 GW1 0.2 GW1
1. Gross capacity 63E.ON standalone
Growth trend unbroken – RES to dominate global power generation
Capacity additions forecast Bid prices per technology
Industry trends
Annual build rate avg. 2018-’301 (EUR/MWh)
Offshore Onshore
109
103
Decarbonization
merchant2
66
59 GW
55
44 GW 43
38 GW
Strong cost decrease
17 GW
7 GW
Offshore Onshore Utility- CCGT Nuclear 2015 2016 2017 2015 2016 2017
scale PV
~300 turbines per week
1. Bloomberg New Energy Outlook 2017, 2. German Power Baseload forward 2019 (08.03.2018). 64E.ON standalone
E.ON aims to grow at scale in Onshore
Onshore
Offshore
Capitalize on attractive Leverage existing
Solar PV
~8 GW pipeline options in Europe
• From boutique
+40%2 to industrial
+20-25%
• Capex light
~1 GW1
~5 GW1
2017 2020
2017 2020
1. Operated capacity, 2. ~400MW net capacity addition. Gross capacity addition: 800MW. 65E.ON standalone
High share of contracted revenues provides stability and visibility
High earnings stability and visibility Clear guiding principles
• High earnings stability
• Secure long-term stable off-take
~95% hedged or long-term contracted1 agreements for new investments
• Revenue optimization for assets at the end
of support scheme
~75% long-term contracted1 (rolling 3 year hedging)
• Active commercial risk management/value
optimization incl. congestion hedging, day-
ahead/intra-day optimization
2017 2018 2019 2020
Merchant Hedged Long-term contracted
1. Average 2017-2020 66E.ON standalone
Integral part of E.ON - Modular value crystallization
Develop & Sell & (Operate) Build & Sell & Operate Build & Keep
• Rapid monetization of value • Reduce exposure in certain
• Resilient long-term cash flows
• Capex light geographies
• Strong operational capabilities ensure
• Additional value from long-term • Additional value from long-term O&M
E.ON being an efficient asset owner
O&M services services
Case studies
Deal value: ~$100m1 Deal value: ~$650m
Capex: ~€1bn
Year: 2016 Year: 2014
Sold: 100%
Magic Valley 12 Sold: 80%
COD: 2015
Afton Amrumbank Cap.: 302 MW
Cap.: 50 MW Wildcat 13 Cap.: 405 MW
1. InfraRed Capital Partners, 2. Magic Valley 1: 203MW, 3. Wildcat 1: 202MW. 67E.ON standalone
Technical/digital excellence to drive down LCOE1
Predictive maintenance roll-out Array layout optimizer
Self-learning
algorithms to optimize
wind park layout in
60%
order to increase
10%
production and reduce
2017 2018 2019 2020 wake effects
Transparent and effective capex and
Single digit yield increase
opex allocation
Turbine selection tailored to site
Extension of life-time
conditions
1 Improved load factors and availability Data driven investment decision
1. Levelized cost of electricity 68E.ON standalone
Play at scale in Onshore - Attractive pipeline in Tier 1 geographies
Gross capacity additions 2018-2020 (MW) Onshore pipeline Onshore pipeline
∑~2GW
~5.9 ~1.8
GW GW
COD COD COD COD COD
2016 2017 2018 2019 2020
100% PTC Nordic
New Projects
Onshore Offshore1, 2 80% PTC UK
(Pre- FID pipeline)
Other Other EU
1. 2018 COD: Rampion (Gross delivery: 400 MW, EU Offshore), Stella (Gross delivery: 201 MW, US Onshore), 69
2. 2019 COD: Arkona (Gross delivery: 385 MW, EU Offshore), Morcone (Gross delivery: 57 MW, EU Onshore).Growth Focus Discipline
Financial Appendix
E.ON standaloneE.ON standalone
Highly stable business profile
Business profile FY EBITDA 20171
High share of regulated and long-term contracted
earnings (~3/4 of EBITDA)
Operations in Energy Networks under stable, well
15% Energy
Networks
established frameworks in low risk markets with
strong regulatory track record
13%
€5.0bn 56%
Customer
Solutions
PreussenElektra (non-core)
16%
Predominantly quasi-regulated or contracted
earnings in heat operations and Renewables
Renewables
Remaining merchant exposure in Renewables and
PreussenElektra largely hedged ~3/4 from regulated/long-term contracted
businesses2
1. Adjusted for non operating effects, representation in pie charts excluding Corporate Functions/Other; total figure including Corporate Functions/Other, 71
2. Including Energy Networks and a portion of Renewables and Heat.E.ON standalone
E.ON today – Regulated Energy Networks at the heart
Key financials Core EBIT1 2017 Share of regulated/
2017 long-term contracted
businesses2
Group EBIT1
Customer Solutions Energy Networks Renewables
€3.1bn
Adj. Net Income1
€1.4bn €0.5bn €1.9bn €0.5bn Regulated/contracted
Merchant
Strong pillars with Customer Solutions and Renewables
1. Adjusted for non operating effects, 2. Percentage as of Group EBIT. 72E.ON standalone
2017 yet another year of strong delivery
Highlights Key Financials1
EBIT Adj. Net Income
EBIT and Adj. Net Income at the upper end €m €m
of the guidance range Economic Net Debt
€ bn -7.1
3,112 3,074 26.3
+58%
Adj. Net Income + 58% versus FY 2016
1,427 19.2
904
Economic net debt reduced to €19.2bn
Dividend 2017 of €0.30/share confirmed
FY 2016 FY 2017 FY 2016 FY 2017 FY 2016 FY 2017
Guidance range EBITDA €2.8-3.1bn, Adj. Net Income 1.2-1.45bn
1. Adjusted for non operating effects 73Growth Focus Discipline
Q1 2018 – Financial Appendix
E.ON standaloneE.ON standalone
Financial Highlights
EBIT Adj. Net Income
• Energy Networks: -5% YoY • Improves €202 m YoY
Reversal of regulatory effects in
€m Q1 2017 Q1 2018 % YoY
Germany and tariff increases in Driven by strong EBIT and
Sweden profiting from refinancing
Sales 10,480 9,330 -11 • Customer Solutions: +23% YoY benefits and stable tax rate
1 Price increases in Germany 2017, (25%)
EBITDA 1,517 1,715 +13
competitive dynamics in the UK
EBIT 1 1,038 1,284 +24 • Renewables: +7% YoY
1 Capacity additions, partly offset by
Adjusted net income 525 727 +38
subsidy expiries
OCF bIT 1,027 359 -65
Investments
Investments 588 696 +18 OCF bIT • Energy Networks: €271 m
Economic net debt ² -19,248 -19,658 -2 • Cash provided by operating (vs. €260 m YoY)
activities €0.7 bn below prior- • Customer Solutions: €74
year level m (vs. €64 m YoY)
• Key driver: One-off effects in • Renewables: €180 m
Working Capital (vs. €251 m YoY )
• Non-Core: €161 m
(vs. €5 m YoY)
1. Adjusted for non operating effects, 2. Economic net debt as per 31 Dec 2017 and
31 Mar 2018; Economic net debt definition takes into account the decommissioning
75
provisions calculated with a real discount rate of 0.0% as opposed to IFRS AROs.E.ON standalone
Seasonally low CCR2
Q1 2018
€ bn
21%
1.7
0.0
-1.3
0.4
0.1
-0.1
-0.1
-0.7
-0.5
EBITDA1 Cash Change in WC OCF bIT Interest Tax Payments OCF Capex FCF
Adjustments3 Payments
1. Adjusted for non operating effects, 2. Cash Conversion Rate: OCF bIT ÷ EBITDA, 3. Net non cash effective EBITDA items incl. provision utilizations. 76E.ON standalone
Segments: Energy Networks
Energy Networks Highlights
EBIT1 € m • Germany
-5%
– Reversal of regulatory effects
678 642 – New regulatory period gas
– Concession loss Hamburg
Germany 415 353 • Sweden
+ Power tariff increase
Sweden 151
132 • CEE & Turkey
CEE & Turkey 131 138 + Regulatory improvements in Turkey
Q1 2017 Q1 2018
€m Germany Sweden CEE & Turkey Total
Q1 2017 Q1 2018 % YoY Q1 2017 Q1 2018 % YoY Q1 2017 Q1 2018 % YoY Q1 2017 Q1 2018 % YoY
Revenue 3,426 2,229 -35 298 293 -2 475 432 -9 4,199 2,954 -30
Details
EBITDA 1 559 490 -12 173 190 +10 185 197 +6 917 877 -4
EBIT 1 415 353 -15 132 151 +14 131 138 +5 678 642 -5
thereof Equity-method earnings 16 16 +0 0 0 - 22 30 +36 38 46 +21
OCFbIT 720 23 -97 142 267 +88 152 164 +8 1,014 454 -55
Investments 98 108 +10 60 55 -8 102 108 +6 260 271 +4
1. Adjusted for non operating effects 77E.ON standalone
Segments: Customer Solutions
Customer Solutions Highlights
EBIT1 € m +23%
• Germany Sales
+ Price increases as per Q2 2017
392 + Lower gas procurement costs
319 – Restructuring costs
128
Germany Sales 38
• UK
UK 160 148 + Price increases as per Q2 2017
– Competitive dynamics
Other 121 116 – Restructuring costs
Q1 2017 Q1 2018 – Price caps (PPM2, vulnerable customers)
€m Germany Sales UK Other Total
Q1 2017 Q1 2018 % YoY Q1 2017 Q1 2018 % YoY Q1 2017 Q1 2018 % YoY Q1 2017 Q1 2018 % YoY
Revenue 2,155 2,013 -7 2,151 2,391 +11 2,244 2,341 +4 6,550 6,745 +3
Details
EBITDA 1 44 135 +207 184 169 -8 167 159 -5 395 463 +17
EBIT 1 38 128 +237 160 148 -8 121 116 -4 319 392 +23
thereof Equity-method earnings 0 0 - 0 0 - 3 1 -67 3 1 -67
OCFbIT -178 -169 +5 9 -103 - 2 -76 - -167 -348 -108
Investments 3 4 +33 46 40 -13 15 30 +100 64 74 +16
1. Adjusted for non operating effects, 2. Prepayment Meter. 78E.ON standalone
Segments: Renewables
Renewables Highlights
EBIT1 € m +7% • Offshore/Other
+ UK: Ramp-up capacity additions (Rampion)
171
160 • Onshore/Solar
+ US: Capacity additions (Bruenning’s Breeze, Radford’s Run)
Offshore/Other 99 113 – Subsidy expiries
Onshore/Solar 61 58
Q1 2017 Q1 2018
€m Onshore Wind / Solar Offshore Wind / Others Total
Q1 2017 Q1 2018 % YoY Q1 2017 Q1 2018 % YoY Q1 2017 Q1 2018 % YoY
Revenue 188 234 +24 188 167 -11 376 401 +7
Details
EBITDA 1 113 97 -14 136 150 +10 249 247 -1
EBIT 1 61 58 -5 99 113 +14 160 171 +7
thereof Equity-method earnings 11 8 -27
OCFbit 187 228 +22
Investments 251 180 -28
1. Adjusted for non operating effects 79E.ON standalone
Non-core business
Non-core Highlights
EBIT1 € m • PreussenElektra
+133 + Higher volumes due to outages of all plants in Q1 2017
109
+ Positive one-off effects in Q1 2018
– Lower achieved power prices
• Generation Turkey
Preussen 124
Elektra
+ Book loss from asset sale in Q1 2017
27
Generation -51 -15
Turkey
-24
PreussenElektra: Hedged Prices
Q1 2017 Q1 2018 (€/MWh) as of 31 March 2018
€m PreussenElektra Generation Turkey Total
Q1 2017 Q1 2018 % YoY Q1 2017 Q1 2018 % YoY Q1 2017 Q1 2018 % YoY 2017 100% 32
Revenue 364 278 -24 0 0 - 364 278 -24
Details
EBITDA 1 74 159 +115 -51 -15 +71 23 144 +526 2018 99% 26
EBIT 1 27 124 +359 -51 -15 +71 -24 109 +554
thereof Equity-method earnings 26 25 -4 -51 -15 +71 -25 10 +140 2019 80% 29
OCFbIT 207 112 -46 0 0 - 207 112 -46
Investments 5 7 +40 0 154 - 5 161 - 2020 4% 29
1. Adjusted for non operating effects 80E.ON standalone
Adjusted Net Income
€m Q1 2017 Q1 2018 % YoY
EBITDA 1 1,517 1,715 +13
Depreciation/amortization -479 -431 +10
1
EBIT 1,038 1,284 +24
Economic interest expense (net) -195 -177 +9
EBT 1 843 1,107 +31
1
Income Taxes on EBT -210 -277 -32
1
% of EBT -25% -25% -
Non-controlling interests -108 -103 +5
Adjusted net income 1 525 727 +38
1. Adjusted for non operating effects 81E.ON standalone
Reconciliation of EBIT
to IFRS Net Income
€m Q1 2017 Q1 2018 % YoY
1
EBITDA 1,517 1,715 +13
Depreciation/Amortization/Impairments -479 -431 +10
EBIT 1 1,038 1,284 +24
Economic interest expense (net) -195 -177 +9
Net book gains 52 104 +100
Restructuring -94 -26 +72
Mark-to-market valuation of derivatives -308 191 +162
Impairments (net) 3 0 -100
Other non-operating earnings 394 -87 -122
Income/Loss from continuing operations before income taxes 890 1,289 +45
Income taxes -155 -256 -65
Income/loss from continuing operations 735 1,033 +41
Income/loss from discontinued operations, net 0 0 -
Net income/loss 735 1,033 +41
1. Adjusted for non operating effects 82E.ON standalone
Cash effective investments
by unit
€m Q1 2017 Q1 2018 % YoY
Energy Networks 260 271 +4
Customer Solutions 64 74 +16
Renewables 251 180 -28
Corporate Functions & Other 8 9 +13
Consolidation 0 1 -
Non-Core 5 161 -
Investments 588 696 +18
1. Adjusted for non operating effects 83E.ON standalone
Economic Net Debt1
€m 31 Dec 2017 31 Mar 2018
Liquid funds 5,160 4,108
Non-current securities 2,749 2,449
Financial liabilities -13,021 -12,736
Adjustment FX hedging ² 114 166
Net financial position -4,998 -6,013
Provisions for pensions -3,620 -2,924
Asset retirement obligations -10,630 -10,721
Economic net debt -19,248 -19,658
1. Economic net debt definition takes into account the decommissioning provisions
calculated with a real discount rate of 0.0% as opposed to IFRS AROs, 2. Net figure; 84
does not include transactions relating to our operating business or asset management.E.ON standalone
Economic interest expense (net)
Difference
€m Q1 2017 Q1 2018
(in € m)
Interest from financial assets/liabilities -175 -156 +19
Interest cost from provisions for pensions and similar provisions -21 -16 +5
Accretion of provisions for retirement obligation and similar provisions -17 -20 -3
Construction period interests¹ 8 8 +0
Others 10 7 -3
Net interest result -195 -177 +18
1. Borrowing cost that are directly attributable to the acquisition, construction or production of a qualified asset. 85
Borrowing cost are interest costs incurred by an entity in connection with the borrowing of funds (Interest rate: 5.47%).E.ON standalone
Financial Liabilities
Split Financial Liabilities Maturity profile (as of end Q1 2018)1
€ bn € bn
4.8
31 Mar
2018
Bonds -10.7
in EUR -4.0
in GBP -3.9
in USD -2.4
2.0
in JPY -0.2
in other denominations -0.2 1.4
Promissory notes -0.4 1.1
0.8
Commercial papers 0.0 0.6
0.4
Other liabilities -1.6 0.1 0.0
Total -12.7
2018 2019 2020 2021 2022 2023 2024 2025 ≥2026
EUR GBP USD JPY Other
1. Bonds and promissory notes issued by E.ON SE and E.ON International Finance B.V. (fully guaranteed by E.ON SE). 86E.ON Investor Relations contacts
Alexander Karnick T +49 (201) 184 28 38
Head of Investor Relations alexander.karnick@eon.com
Martina Burger T +49 (201) 184 28 07
Manager Investor Relations martina.burger@eon.com
Dr. Stephan Schönefuß T +49 (201) 184 28 22
Manager Investor Relations stephan.schoenefuss@eon.com
Andreas Thielen T +49 (201) 184 28 15
T +49 (201) 184 2806
Manager Investor Relations andreas.thielen@eon.com investorrelations@eon.com
87Financial calendar & important links
Transaction Website: http://www.energyfortomorrow.eu/
Financial calendar
August 8, 2018 Half-Year Financial Report: January – June 2018
November 14, 2018 Quarterly Statement: January – September 2018
March 13, 2019 Annual Report 2018
May 13, 2019 Quarterly Statement: January – March 2019
Important links
Presentations https://www.eon.com/en/investor-relations/presentations.html
Facts & Figures 2018 https://www.eon.com/content/.../presentations/facts-and-figures-2018.pdf
Annual Reports https://www.eon.com/en/investor-relations/financial-publications/annual-report.html
Interim Reports https://www.eon.com/en/investor-relations/financial-publications/interim-report.html
Shareholder Meeting https://www.eon.com/en/investor-relations/shareholders-meeting.html
Bonds / Creditor Relations https://www.eon.com/en/investor-relations/bonds.html
88Disclaimer
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in this document as well as any limitations set out on the webpage of E.ON SE on which this presentation has been made available.
This document is being presented solely for informational purposes. It should not be treated as giving investment advice, nor is it intended to provide the basis for any
evaluation or any securities and should not be considered as a recommendation that any person should purchase, hold or dispose of any shares or other securities.
The information contained in this presentation may comprise financial and similar information which is neither audited nor reviewed and should be considered
preliminary and subject to change.
Some of the information presented herein is based on statements by third parties. No representation or warranty, express or implied, is made as to, and no reliance
should be placed on, the fairness, accuracy, completeness or correctness of this information or any other information or opinions contained herein, for any purpose
whatsoever.
This presentation may contain forward-looking statements based on current assumptions and forecasts made by E.ON management and other information currently
available to E.ON. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial
situation, development or performance of the company and the estimates given here. E.ON does not intend, and does not assume any liability whatsoever, to update
these forward-looking statements or to conform them to future events or developments.
Neither E.ON nor any respective agents of E.ON undertake any obligation to provide the recipient with access to any additional information or to update this
presentation or any information or to correct any inaccuracies in any such information.
Certain numerical data, financial information and market data (including percentages) in this presentation have been rounded according to established commercial
standards. As a result, the aggregate amounts (sum totals or interim totals or differences or if numbers are put in relation) in this presentation may not correspond in all
cases to the amounts contained in the underlying (unrounded) figures appearing in the consolidated financial statements. Furthermore, in tables and charts, these
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