EDF Q1 Report 2023

Financial performance
Sales: €47.8bn, +34.6% organic growth vs. end-March 2022.
The strong increase in Group sales is essentially explained by an increase in electricity and gas sale prices in the first quarter of 2023, resulting from higher market prices, in particular in France and in the United Kingdom. It is reduced by the tariff shield in France, which is compensated in EBITDA. Furthermore, the increase was offset by a lower gas consumption. The increasing performance of EDF Trading contributed to the growth in sales.

Operational performance

Nuclear output totalled:

• 85.2TWh in France, or 6.5TWh less than in the 1st quarter of 2022. This decrease is explained by a lower
  nuclear fleet availability, mainly due to outages for the controls and repairs on the pipes affected by the
  stress corrosion phenomenon, and to the impacts of social movements. The estimate of nuclear output in
  France for 2023 remains in the range 300-330TWh.
• 9TWh in the United Kingdom, down by 2.4TWh from the 1st quarter of 2022, after the closing of Hinkley
  Point B in August 2022 and because of a busier maintenance programme in 2023.

Renewable output totalled:

• 9.2TWh (1) of hydropower in France. The 0.2TWh decline vs. the 1st quarter of 2022 was due mainly to still
  low hydropower conditions.
• 7.8TWh (excluding hydropower in France), up by 0.4TWh compared to the 1st quarter of 2022. This increase
  was essentially driven by the new renewable capacity commissioned in 2022. As of the end of March 202