Résultats

-3 1 % vs. 9M 2015 9M 2016 operating performance Challenging market conditions across Europe Favourable impact in France of the 2014 tariff adjustment (1... in accordance with the action plan to reinforce Group' s capital 91 8 % of rights were exercised in favour of a payment in shares (1) 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 5 Group sales down on challenging market conditions In millions of euros Organic change.

2 .1bn 60 % payout Including EBITDA impact relating to 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 Adjusted for the remuneration of hybrid bonds accounted for in equity ANNUAL RESULTS 2016 5 OPERATING PERFORMANCE France.

(1) + 0 4 %- 3 1 % France France excluding 2014 tariff adjustment (3) United Kingdom Italy Other International Other activities Other activities excluding 2014 tariff adjustment (3) 8 512 (2) 8 591 4 085 4 648 4 648 6 837 8 054 3 695 4 557 4 545 -10 4 % 5 8 %- 6 5 %- 3 8 %- 4 1 % Total Group Total Group excluding 2014 tariff adjustment (3) 54 534 (2) 54 534 51 966 50 936 -3 1 %