Capitalized terms used in this press release shall have the meaning given to them in the Final Offering Memorandum dated 2 October 2018 relating to the Notes issued on 4 October 2018.

On 5 June 2024: EDF (BBB stable S&P / Baa1 stable Moody’s / BBB+ stable Fitch) announces its intention to exercise its Option to Redeem the hybrid Notes issued on 4 October 2018 for a nominal amount of €1,250 million euros (ISIN FR0013367612).
These Notes will be Redeemed on 5 July 2024, Early Redemption Date, as set out in the Terms and Conditions of the Notes included in the Prospectus.

The share capital of EDF has been increased on 24 May 2023 and 13 June 2023 by the conversion of 130,864,943 EDF OCEANES (ISIN FR0013534518) into 168,684,911 new shares for a nominal amount of €84,342,455.50 and a premium for the conversion of €1,346,011,365.17 ([1]).

  • EDF will use the equity content resulting from this capital increase to avoid having to refinance half of the nominal amount of the hybrid subordinated debt issued on 4 October 2018, i.e. 625 million euros by another hybrid subordinated debt.
  • In addition, if the Option to Redeem the hybrid subordinated debt issued on 25 January 2013 for a nominal amount of 1,250 million euros (ISIN FR0011401751) is exercised, when times come, EDF could use the equity content arising from this capital increase for half of its nominal amount, i.e. 625 million euros or refinance it by another hybrid subordinated debt.
  • Equity content from the conversion of OCEANES will not be used to refinance any other hybrid subordinated debt.

Forward-Looking Statements:
EDF considers portions of this announcement to be a forward-looking statement. Forward-looking statements can be identified typically by the use of forward-looking terminology such as “believes”, “expects”, “may”, “will”, “could”, “should”, “intends”, “estimates”, “plans”, “assumes”, “predicts” or “anticipates”, as well as the negatives of such words and other words of similar meaning in connection with discussions of future operating or financial performance or of strategy that involve risks and uncertainties. Although EDF believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, these assumptions are inherently uncertain and involve a number of risks and uncertainties that are beyond EDF’s control; therefore, EDF can give no assurance that such expectations will be achieved. Future events and actual results, financial and otherwise, may differ materially from the results discussed in the forward-looking statements as a result of risks and uncertainties, including, without limitation, possible changes in the timing and consummation of the transactions described therein.
You are cautioned not to place any undue reliance on the forward-looking statements contained in this announcement, which speak only as at their respective dates. Neither EDF nor any of its affiliates undertakes any obligation publicly to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise except as required by any applicable laws and regulations.

([1]) See press releases of 24 May 2023 and 13 June 2023