E.on Se · XETR:EOAN
E.on — Non-Deal Roadshow (September 2026)
34 slides from E.on's roadshow presentation, Sep 30, 2026
Slide 1: it's on us
it‘s on us
Slide 2: We are the playmaker of the green energy transition in Europe
We are the playmaker of the green energy transition in Europe AdjcEBITDA ~<a) —~ ¥ AdjeEBITDA, share? —_ a ~8% | Share? Energy Networks Energy Infrastructure Solutions Energy Retail We operate the largest energy distribution grid in Industries and cities face major energy supply We are helping milli
Slide 3: Our investment case: five reasons to invest in E.ON
Our investment case: five reasons to invest in E.ON w | Energy Networks Long-term growth ina regulated environment Secular growth opportunities from the green energy transition well into the 2030s. Regulated business profile provides for a steady and profitable, highly visible earnings growth path.
Slide 4: Financial capacity, operational growth, earnings growth, shareholder remuneration
Shareholder Financial capacity Operational growth Earnings growth remuneration
Slide 5: Energy Networks
Photo shows overhead lines (part of Bayernwerk Netz GmbH, Germany).
Slide 6: We offer an unprecedented regulated growth trajectory
We offer an unprecedented regulated growth trajectory with a clear strategic focus on power infrastructure Current Regulated Asset Base (RAB) Projected power RAB development E.ON Group-level 30.0 2 ain ~9%CAGR 2025-2030 & a FY 2025 Total RAB?? :€48bn Power: €43bn Gas: €6bn Germany Sweden 46 y 48 @ P
Slide 7: Our growing distribution networks are the backbone for a successful energy transition
Our growing distribution networks are the backbone for a successful energy transition E.ON Investment Plan 2026 - 2030 RAB-effective? Investment Split E.ON Capex Annual average 2026 - 2030 ~€48bn': Hil Empowerment of the energy transition 2026-2030 Hl Gas Various distribution grid buildout drivers:
Slide 8: Value creation spread of 150-200bps
• • • Value creation spread of 150-200bps2
Slide 9: Germany: Upcoming regulatory events for 5th regulatory period (RP5)
Germany: Upcoming regulatory events for 5‘ regulatory period (RP5) ] a4 Dec Apr H2 & Determination of revenue cap Determinations for Draft for OPEX Determination of WACC (E0G) for Power © new incentive regulation adjustment factor? (Cost of Equity and Debt) incl. methodolo: 7 gy @®D a3 & (Gas/Power)
Slide 10: Energy Infrastructure Solutions
Energy Infrastructure Solutions
Slide 11: Best-in-class infrastructure portfolio capitalizing upon decarbonization needs
Best-in-class infrastructure portfolio capitalizing upon the f decarbonization needs of cities and industries Core businesses and customers? District Heating & Cooling Heating and cooling networks in urban areas. We design, build, own, operate, and optimize the assets. ~45% Industrial & Commercial S
Slide 12: ~5,000 km, ~18 TWh, +12% CAGR
• ~6,000 +12% CAGR • • ~5,000 km • ~€5bn ~18 TWh • •
Slide 13: Energy Retail
Energy Retail @-onn -
Slide 14: Large and loyal customer base managed for efficiency and growth
Large and loyal customer base managed for efficiency and a growth of integrated flexible offerings Stable customer base of -47m Customer accounts” million ( 13.6 ) ( 3.9 . Germany Netherlands GO United Kingdom Other? and Turkey @ Power Gas (2) Average EBITDA share over 2026-2030 plan excluding corpa
Slide 15: Increasing cash contribution to ~€7.0bn
EBITDA B2C margin2 Increasing cash within 3-5% target range contribution to ~€7.0bn1 +4% CAGR
Slide 16: Financial Strategy
Financial Strategy @-ori
Slide 17: We keep our promises.
We keep our promises. = Guidance met
Slide 18: Increasing investment program backed by strict value creation requirements
Increasing investment program backed by strict value creation requirements 2026-2030 Investments? Segment Energy Networks -€40bn Va ~€48bn Energy Infrastructure Solutions -€5bn {2) Cash-effective investments including Corporate Functions. Corporate Functions nat depicted in thes post-tax, unl uusine
Slide 19: +6% CAGR EPS growth and dividend growth
+6% CAGR +6% CAGR EPS1 growth dividend growth
Slide 20: Growth contributions across all segments, emphasis on power grid EBITDA growth
Growth contributions across all segments, with a strong emphasis on EBITDA growth from power grid investments Adjusted EBITDA? €bn Energy Infrastructure Solutions +6% CAGR — Underlying 2025-2030 0.62 9.60-0.75 +12%CAGR One offs Underlying -98 2025-2030 2025 2026 2030 Energy Networks 7.32 7.2-7.4 Ene
Slide 21: Strong BBB/Baa rating, €5-10bn extra balance sheet capacity
Strong • BBB/Baa rating • €5-10bn extra balance sheet capacity in 2030 •
Slide 22: Financing: volumes, tenors, green financing, currencies
Volumes Tenors Green financing Currencies Investor €3.5-5bn p.a. 3-30 years >50% p.a. €-funding preferred diversification Growing variety • • • • • • • • • • •
Slide 23: Appendix
Pp GaP of Schleswig-Holstein Netz AG, Germany). Sp Phot stows outdoor 110kV busbar Appendix e-or
Slide 24: Guidance overview
Guidance overview €bn FY 20251 FY 20262 FY 20302 Adj. EBITDA? 9.419 9.4-9.6 -13.0 Energy Networks 7.264 72-74 -9.8 Energy Infrastructure Solutions 0.588 0.60-0.75 -11 Energy Retail 1.697 1.6-1.8 -2.1 Adj. Net Income? 2.744 2.7-2.9 -3.8 EPS (€ per share)? €1.05 €1.03-1.11 -€1.45 Dividend (€ per share
Slide 25: Up to 5%: we have delivered and will continue to deliver
Up to 5% We have delivered and will continue to deliver.
Slide 26: Creating additional value through digital energy transformation
Creating additional value through digital energy transformation Digital journey: Creating value through Cr Digital 2025+ 2024+ 2021-2023 IT Operations and Digital Core Basis for earnings growth: -40% faster delivery of use cases through global data lake (onboarding time reduced from 135 to 80 days)
Slide 27: Sustainability as a key pillar of our strategic foundation
Sustainability as a key pillar of our strategic foundation Environment >100 fallrenewable assets in Europe connected to Gw E.ON grid, thereof >1 million renewable assets connected in Germany homes and business properties connected to first UK GR iogridt advanced heating network in Silvertown) London
Slide 28: Ambitious environmental targets form the basis for all our businesses
Ambitious environmental targets form the basis for all our businesses Ambitious ESG targets and commitments Goverment ane eae Fu saaeS prestigious ratings’ Target 20301 2040 2050 E.ON progress? *: MSCI * Management AA (Leader score range) Scope1 -50%? “100% eon remuneration system Rated on an AAA to
Slide 29: EU & Germany: Timeline for most relevant legislations
EU & Germany: Timeline for most relevant legislations EU Grids Package EU “Summer Package”? incl. Electrification Action Plan German Grid Package = Renewable Energy Sources Act 2027 reform (‘EEG’) German distribution Grid Package (part of 34-point coalition plan) 34 July Parliament adopts position o
Slide 30: E.ON's Green Financing Framework updated in Q4 2025
E.ON's Green Financing Framework? updated in Q4 2025 Instruments Use of Proceeds Management of Proceeds Green bonds or other green financing instruments (e.g. Schuldschein, loans, among others) Electricity Network Assets and CapEx Full EU Taxonomy alignment Paris-aligned benchmark exclusion criteria
Slide 31: Strong and stable credit and issuance ratings (BBB+/Baa2/A-)
Strong and stable credit and issuance ratings (BBB+/Baa2/A-) A-/A3 — Fitch? S&P BBB+ / Baal Upgrade [-——————__._ — S&P — Moody's Senior unsecured Long-term ratings BBB / Baa2 t 20 2021 2022 2023 2024 2025 2026 S&P Global f . Ratings ° Moobpy’s FitchRatings Issuer rating: BBB+ (stable outlook) Issuer
Slide 32: Capital market debt well diversified and substantially green
Capital market debt well diversified and substantially green Capital Market Debt? (in €bn) Maturity Profile? (in €bn) 50 €16.8bn 45 green bonds 40 3,5 3,0 25 2,0 15 : | l [ | — 26 '27 (28 (29 ‘30 31 ‘32 ‘33 ‘34 35 36 37 38 "39 40 “41 “42 “43 EUR Bonds = GBP Bonds EUR Bonds = GBP Bonds EUR Private Pl
Slide 33: Disclaimer
Disclaimer This presentation contains information relating to E.ON Group ('E.ON’) that must not be relied upon for any purpose and may not be redistributed, reproduced, published, or passed on to any other person or used in whole or in part for any other purpose. By accessing this document, you agre
Slide 34: thank you
thank you @-ori