Résultats

EDF strongly believes that electrification is the most costeffective and efficient way to fight climate change in many sectors such as road transport, domestic and industrial heating and other specific industrial processes... EDF believes that molecules will be needed.

We believe that the COVID- 19 pandemic will most likely delay advances on this structural regulatory reform for EDF. as both the French State and the European Commission are dealing with priorities of addressing the economic and social consequences of the pandemic.

EDF believes that the acquisition will enable it to build and operate four EPRs in the UK... The German Federal Cartel Office announced on December 22, 2008 that, after a preliminary examination, it believes that the partnership would result in the companies' increased dominance in eastern German gas markets.

The potential nuclear reform in France remains a key issue for EDF, but we believe that an agreement is now unlikely before the French presidential elections in April 2022. For a full list of rating actions please see below. KEY RATING DRIVERS https://www.fitchratings.com/research/corporate-finance/fitch-ratings-affirms-edf-at-a-outlook-negative-19-07-2021 1/12 Feedback 7/19 / 2021 Fitch Ratings Affirms EDF at' A- ';Outlook Negative Exhausted Leverage Headroom.

While EDF believes that the expectations reflected in these forward. looking statements are based on reasonable assumptions at the time they were made.

While EDF believes that the expectations reflected in these forward. looking statements are based on reasonable assumptions at the time they were made.

we believe that execution risks in new nuclear projects and operating issues at existing reactors will heighten pressure on the group' s credit quality... We believe that the ongoing complex new nuclear builds contribute to the group' s deeply negative FOCF and that associated cost overruns exacerbate the debt trajectory.

We also believe that the French state' s decision regarding EDF' s financial policy supports our assessment that EDF continues to benefit from a S & P GLOBAL RATINGS360 © S & P Global Ratings... We believe this will, however, be a lengthy process that requires the fulfilment of several key milestones, starting with the passing of the French energy policy PPE decree law and full approval from the European Commission.

The Constellation board of directors has not responded to the joint offer. 15 EDFI, as a shareholder, believes that the MidAmerican transaction does not generate value creation expected by shareholders. EDFI remains committed to pursuing opportunities in the US nuclear industry and is reviewing all of its options with respect to increasing the value of its investment in Constellation for itself and Constellation' s' other shareholders.

The Constellation board of directors has not responded to the joint offer. 15 EDFI, as a shareholder, believes that the MidAmerican transaction does not generate value creation expected by shareholders. EDFI remains committed to pursuing opportunities in the US nuclear industry and is reviewing all of its options with respect to increasing the value of its investment in Constellation for itself and Constellation' s' other shareholders.