E.on Se · XETR:EOAN
E.on — Debt Investor Presentation (June 2026)
34 slides from E.on's debt investor presentation, Jun 25, 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 Adj:EBITDA, Share? a ¥ Adj: EBITDA share? —_ a ~8% | Energy Networks We operate the largest energy distribution grid in Europe and are the backbone of the green energy transition with the most critical infrastructure for society. Top-3 ma
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 Financial capacity Operational growth Earnings growth remuneration
Slide 5: Opportunity for further growth
Opportunity for further growth Decarbonisation and digitalization Power RAB in 2030 AI ~€65bn3 and data centers Electrification Strategic repositioning since 2021 with focus on Energy Networks
Slide 6: Electrification-driven structural growth with limited economic sensitivity
~80% • • • >98% • • ~85% • Electrification-driven structural growth with limited economic sensitivity
Slide 7: FY 2026 guidance and FY 2030 targets fully confirmed
• • • FY 2026 guidance and FY 2030 targets, including dividend policy, fully confirmed
Slide 8: Energy Networks
letz GmbH, Germany)
Slide 9: Unprecedented regulated growth trajectory with focus on power infrastructure
We offer an unprecedented regulated growth trajectory with a clear strategic focus on power infrastructure Current Regulated Asset Base (RAB) FY 2025 Total RAB?? :€48bn Power: €43bn Gas: €6bn Germany Sweden y 48 @ Power 6) Cy Gas CEES SEE*® Projected power RAB development E.ON Group-level €bn ~9% CA
Slide 10: Growing distribution networks are the backbone of the 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 Grid modernization €7.26n Hl Gas = ~ Various distri
Slide 11: Value creation spread of 150-200bps
• • • Value creation spread of 150-200bps2
Slide 12: Energy Infrastructure Solutions
Energy Infrastructure Solutions
Slide 13: Best-in-class infrastructure portfolio for 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 14: Energy Infrastructure Solutions growth KPIs
• ~6,000 +12% CAGR • • ~5,000 km • ~€5bn ~18 TWh • •
Slide 15: Energy Retail
Energy Retail @-onn -
Slide 16: 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 2026-2020 plan excluding corpo
Slide 17: Increasing cash contribution to ~€7.0bn
EBITDA B2C margin2 Increasing cash within 3-5% target range contribution to ~€7.0bn1 +4% CAGR
Slide 18: Financial Strategy
Financial Strategy @-ori
Slide 19: We keep our promises
We keep our promises. = Guidance met
Slide 20: Confirmed guidance for 2026-30
it’s on us Confirmed guidance for 2026-30 • ~€48bn • ~€13bn ~€1.45 • up to 5% 10%
Slide 21: Increasing investment program backed by strict value creation requirements
Increasing investment program backed by strict value creation requirements 2026-2030 Investments? Segment Investment split Creating shareholder value Energy -€36bn RAB-effective: Networks GER 73% / SWE 11% / CZ 5% / Other 11% 150-200bps ROCE over WACC -€3bn network-adjacent & Other”: spread? \ -€40b
Slide 22: EPS growth and dividend growth
+6% CAGR +6% CAGR EPS1 growth dividend growth
Slide 23: Growth contributions across all segments
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 24: Strong BBB/Baa rating and extra balance sheet capacity
Strong • BBB/Baa rating • €5-10bn extra balance sheet capacity in 2030 •
Slide 25: Appendix
wutdoor 110kV busbar (partlofiSchleswig=Holstein Netz AG) Germany) Photo shown of an o Appendix @-or)
Slide 26: Sustainability as a key pillar of our strategic foundation
Sustainability as a key pillar of our strategic foundation Environment Social >100 _ fallrenewable assets in Europe connected to at E.ON grid, thereof >1 million renewable assets cw anend connected in Germany We ensure the frequency of serious homes and business properties connected to first UK acci
Slide 27: Ambitious environmental targets form the basis for all our businesses
Ambitious environmental targets form the basis for all our businesses © rq a Ambitious ESG targets and commitments Target 2030+ 2040 2050 E.ON progress*: Scope1 -50%? -100% -50% Scope2 -50%2 -100% -30% Scope 3 -50%? -100% -51% * Science Based Targets Initiative (SBTi) have validated E.ONs near term
Slide 28: Key financials and guidance FY 2025, 2026, 2030
€bn FY 20251 FY 20262 FY 20302 Adj. EBITDA? 9.419 9.4-9.6 -13.0 Energy Networks 7.264 1.2-7.4 -9.8 Energy Infrastructure Solutions 0.588. 0.60-0.75 711 Energy Retail 1.697 1.6-1.8 72.1 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) €0.57 Up to 5
Slide 29: Strong and stable credit and issuance ratings
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 30: E.ON's Green Financing Framework
E.ON's Green Financing Framework? Instruments Use of Proceeds 8 Management of Proceeds (@) Reporting 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 ar
Slide 31: Financing volumes, tenors and instruments
Volumes Tenors Green financing Currencies Investor €3.5-5bn p.a. 3-30 years >50% p.a. €-funding preferred diversification Growing variety • • • • • • • • • • •
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) €15.0bn 50 green bonds 45 40 35 3,0 '28 '29 '30 EUR Bonds = GBP Bonds EUR Bonds EUR Private Placements 1 FX Private Placements (JPY, NOK, USD) EUR Private Placements USD 144A Bonds =
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