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Net financial debt 4 / EBITDA ratio... Net financial debt / EBITDA ratio: between 2x and 2.5x. Payout ratio of Net income excluding non- recurring items 5... Liquid assets are financial assets consisting of funds or securities with an initial maturity of over three months, easily convertible into cash, and managed as part of an objective to maintain liquidity.

Given these different factors, the Group is setting, subject to the level of demand from alternative suppliers under the Arenh mechanism, and under the assumption of a confirmed price of euros 9 31 / KW for the capacity certificates in France, a new EBITDA 3 target for 2018 between euros 14 6 and euros 15 3 billion 4, a Net Financial Debt / EBITDA 3 5 target ratio below or equal to 2.7x 6 and a cash flow target 3 7 slightly positive or close to balance 8.

Proposed dividend for 2017: euros 0 46 / share, i .e . a payout ratio of 60 %... Operating expenses 7: -euros 0.7bn compared to 2015, initial target reached one year early... Target payout ratio of net income excluding non- recurring items 13... Liquid assets are financial assets consisting of funds or securities with initial maturity of over three months that are readily convertible into cash and are managed according to a liquidity-oriented policy.

This compensation will comprise initial instalments for a total of nearly euros 400m... Target payout ratio of Net income excluding non- recurring items (11.

For illustrative purposes, considering a euros 2 4 billion principal amount and a par value of euros 11 49 3 per Bond, and based on the initial conversion / exchange ratio, the potential dilution would represent approximately 6 7 % of the Company's outstanding share capital, if the Conversion / Exchange Right was exercised for all the Bonds and the Company decided to only deliver new shares upon exercise of the Conversion / Exchange Right.

As a result of the Offering, considering an aggregate principal amount of euros 2 399 999 989 27 represented by 219 579 139 Bonds each with a nominal value of euros 10 93, based on the initial conversion / exchange ratio, the potential dilution would represent approximately 7 1 % of the Company's outstanding share capital, if the Conversion / Exchange Right was exercised for all the Bonds and the Company decided to only deliver new shares upon exercise of the Conversion / Exchange Right.

2x Payout ratio of Net income excluding non- recurring items... Initial analyses conducted on two parts similar to those at Flamanville 3 have shown that the carbon segregation phenomena extend beyond mid- thickness on one of them. As specified in the initial strategy approved by the ASN, the material sampling and related tests will be extended to three-fourths of the thickness of the part concerned.