EnBW Factbook 2020 »

October 2020 Business segments Corporate sustainability Strategy Market environment EnBWa glance at EnBW at at a glance EnBW › › Key non Key Key financials ……………………………………………………….…………………………………………………………………………..… EnBW at a a at EnBW - financials …………………..………………………………………………………………………………..…….…… …………………………………………………………………………………………………..… ……..……………….…………………………………………………………………………..… ………………………………………………………………………………………..… g lance 56 45 33 05 02 Service Corporate governance Capital markets Keynon- and financials EnBW’smain shareholdings …………………………………………..……………………………………………………………………………………..…..… ………….………………………….…………………………………………………………………..…..… ………………………………………………………………………………………..…..… financials ……………………..………………..…………………………...…….…… ……..……………….……………………………..…….… 136 132 120 109 97 2

EnBW Factbook 2020 urban infrastructureurban broadband, charging and infrastructurecritical as such operation Installationand of billing services Salesof electricity and gas, Business segments Business 1 As of 31 December 2019 31 of December As of which which of Renewable Energies 4,398 MW or 13,849 MW revenueTotal €18,765 m Sales EnBW glance EnBW a at generation portfolio 31.8% Adjusted EBITDA €2,432.5 m 25,000 km 144,000 km related services the provision and - of grid of electricity,waterand gas Transmissiondistribution and 1 Grids gas grid gas Adjusted Group net profit €786.8 m electricity grid grid electricity 23,293 ~5.5 Retainedflow cash €1,240.7 m (water, windsolar) and renewable energies fromelectricity of Generation m employees customers customers Renewable Energies Stable Fully Solid investment grade ratings investment Solid Activein selected foreign markets fromcontribution low EBITDA ~74% Balanced risk largestthe of One utilities German integrated shareholder services and gastrading and system electricity storage of gas, heating, of generation conventionalpower plants, fromelectricity of Generation utility - return profile structure in Germany Generation &TradingGeneration - risk business risk << Agenda 3

EnBW Factbook 2020 Key non Key non Key 3 2 1 To ensure EnBW achieves its ratings target, the target value will be examined annually based on the requirements of the ratin the of requirements the on based annually examined be will value target the target, ratings its achieves EnBW ensure To replaced bewill capability financing internal indicator performance key the strategy, growth to the transition the Following 2019 31 of December As Therefore, no target value has been defined for the internal financing capability for 2025. 2025. for capability financing internal the for defined been has value target no Therefore, KPI KPI Employee Commitment IndexEmployee Commitment CO (EnBW / Yello) (EnBW CustomerSatisfaction Index accountedfor RE by sharethe generation of capacity the in GW RE and of Installed output Adjusted EBITDA ROCE Debt repaymentDebt potential capability financing Internal 2 financials intensity financials Key figures 1 Goal Secure profitability IncreasingGroup value High levelHigh financial discipline of Employee commitment Customer proximity Expand RenewableEnergies (RE) Reducing Goal CO 2 intensity by 15 to 20% 15 by by GW / % / GW € bn € g /kWh g the new key performance indicator debt repayment potential from 2021. 2021. from potential repayment debt indicator performance key new the g agencies. % % 4.4 / 31.8 4.4 / 116 / 157 116 / 2019 82.6 2019 2.4 5.2 419 66 - (referenceyear 2015: Target 2020 > 136 / >159 / > 136 Target 2020 - 609 g/kWh) 15 to - - 8.5 5.0 / / 5.0 > 40 - 2.3 > 100 11.0 20% 2.5 65 - 125 to 136 / 148 to 159 148to/ to 136 125 (referenceyear 2020) 7.5 to 8.0 / >50 / to 8.0 7.5 Target 2025 Target 2025 - 10 to - - 6.5 > 14 20% > 66 << Agenda 3.2 8.0 - 3 2 4

EnBW Factbook 2020 Business segments Corporate sustainability Strategy Market Environment EnBWa glance at Market environment › › › › Markets Regulatory environment environmentPolitical COVID ……………………………………………………….…………………………………………………………………………..… Market Environment - 19 …………………..………………………………………………………………………………..…….…… …………………………………………………………………………………………………..… ……..……………….…………………………………………………………………………..… ………………………………………………………………………………………..… 56 45 33 05 02 Service Corporate governance Capital markets Keynon- and financials EnBW’smain shareholdings …………………………………………..……………………………………………………………………………………..…..… ………….………………………….…………………………………………………………………..…..… ………………………………………………………………………………………..…..… financials ……………………..………………..…………………………...…….…… ……..……………….……………………………..…….… 136 132 120 109 97 5

EnBW Factbook 2020 › › › Dedicated emergency plans forsystem › › › Protectinghealth theEnBW’s of employees › 24/7 securitysupplyof work at the site alonesiteworkthe andat wear protective clothingif necessary Strict safety measures for field technicianswho have to drive to and control rooms alternativean trading and tradingin with floor. Physically separate for teams key backup with ingrids e.g. units, separatedfrom another one Teams atcontrol the centresfor power plants and grids havebeen (only 1,000 before coronavirus)the conferences video 18,000 are heldbeing daily IT modern fromworking of capabilities 10,000 thanks the home to digital infrastructureand IT in pay off Investments Supply electricity,of gas, water and heatsecure at all times EnBW well preparedEnBWwell for potentialcrises COVID -19: A s an operator of critical infrastructure infrastructure critical of operator s an - critical activities Social responsibility Social energy beyondsupply › › › › Supportbook stores/ forbook business the Baden in − - in Baden food banks the a to €150,000 total of of “Tafel” Donation the by run charities − exceptional time energy the to a grid this connectionat be left should without Nobody faceof Donation masks medical to facilities left them facing special challenges in their work their in challenges facing special them left aid These organisations distribute food to needy.the Thepandemic has gas supplies cut off in the first months 2020 first inthe months off cut supplies gas has restoredEnBW had and electricity who their to all connections those Württemberg. - Württemberg << Agenda 6

EnBW Factbook 2020 in € m € in EBITDA Adjusted H1 2019 1,276 in the first six months 2020 of first six months the in COVID +24% -19: Moderate negative impact on earnings earnings on impact negative Moderate H1 2020 1,587 › Forecast › › GenerationTrading and › Renewable Energies › Grids › Sales › Adjusted EBITDA Unchanged forecastUnchanged in six marketswholesale the on volatility contributionsEarnings from trading with activities positive effecttodue growing market wholesale higher prices at sold deliveries Electricity of COVID impact No Potential negative impact will be compensated performanceEarnings significantlynot influenced. themselves the furtherin second of 2020 half Lower sales to B2B customers and impairments on receivables likely to manifest Only moderatelya COVID of impact negative state governments to relaxrestrictions the are maintained - 19 - monthlyreport thatmeasures the assuming taken / by German - 19 << Agenda 7

EnBW Factbook 2020 The Paris Agreement The Paris GHG: Greenhouse gas Greenhouse GHG: Vox / Tracker Action Climate Source: › › › › › pre ° +1.5 to warming on pre- global a Established+2 warming goal below well (UNFCCC) Change Climate on Convention Framework UN the to Parties 196 the by 2015 December in COP21 Conference Climate Change UN the at Adopted postponed to 2021 COVID to cancelled due Glasgow in (COP26) 2020 Conference Climate World (NDCs) contributions” determined and “nationally measures mitigation and communicatedevelop countries their a legal all universal, framework Defined where century this of half - net achieving at Aims - industrial levels industrial industrial average with efforts to limit limit to efforts with average industrial Global Global Decarbonisation: C in 2100 in relation to to in relation C in2100 zero emissions inzero emissions the second regulatory (not yet including (not including yet increases > 1.5 impactthe of tipping points, which likely are to occur at temperature - 19 and 19 and framework ° C Current pledges lead to global toglobal lead pledges warming of roughly Current +3 on on Effect of current pledges and policies on global GHG emissions global GHG policiespledges on and current of Effect 100 150 Gigatons climate 50 1990 0 of carbon dioxide of 2000 change 2020 2040 ° C 2060 2080 2100 ° C) ° 1.3 ° 1.5 – 1.6 2 ° 2.8 Optimistic policies 2.8 policies Current – 2.5 & Targets Pledges – 4.1 Baseline ° C consistent – C C ° 1.7 ° 2.8 ° 4.8 C consistent ° 3.2 C C C C << Agenda 8

EnBW Factbook 2020 › › › › › › › › › › › › Economic Green Deal 2020 goalsEU 2 1 Commission Communication: A NovemberCleanfinal, 28 Planet773 forall, COM(2018) 2019 December 11 , final 640 COM(2019) The Deal, Green European Communication: Commission European ClimatePact asglobalEU leader Leave Sustainable farming foodand Circular Zero Financing Sustainable Preserving Mobilising Clean, safeaffordableand energy Climate pollution no transformation neutrality economy one the research EU Decarbonisation: ecosystems mobility behind transition target regulatory by and and - 2050 20% GHG GHG emissions 20% 20% Energy20% savings final energyin RE 20% consumption and and for innovation EU expected to legislateto EU expected2020 byof end achieveto climatenet neutrality by 2050; raised;2030 beto targets expected a biodiversity sustainable framework Green Deal future work underwaywork strengthen to supporting legal and financial > 1.5framework° : Coreclimate and energypolicy measures: Key goals: The EuropeanGreen Deal European Commission’s core programme › › › › › › › › 2030 targets2030 raised (emissions Climate neutrality by 2050 inlaw Protect habitats and accessnaturalto resources sustainableproductsof terms in industryand to secureIndustrial policy sustainableeconomy Achievein Europeneutralityclimate 2050 by Renovation wave Offshore wind strategy gas of (hydrogensector strategy) Increased sectorcoupling and decarbonisation Target architecture status quo 2018 1 : he newThe – 50 to EU 2030 goalsEU - 55%) GHG: Greenhouse gas Greenhouse GHG: LULUCF: Land use, Land use change and Forestry Forestry and change use Land use, Land LULUCF: Mt CO Mt Emissions persector in Green Deal scenario² 0 1000 2000 3000 4000 5000 2005 2 -eq 2010 RE: Renewable Energy Renewable RE: uivalent - 40.0% GHG emissions GHG 40.0% 32.5% Energy32.5% savings 32.0% infinal RE energy consumption 2015 C 2020 ---- 2025 N e t emissions t 2030 2035 2040 LULUCF Tec. Removal Carbon Power Industry Transport Tertiary Residential Non Non 2045 - - CO CO 2 2 << Agenda Agriculture other 2050 9

EnBW Factbook 2020 EEG: Erneuerbare Energien Erneuerbare EEG: BEHG: BEHG: Decarbonisation Brennstoffemissionshandelsgesetz German Climate Climate German & EnergyPolicy Goals Establishes German climate protection targets by 2050 andGerman by 2050 climateEstablishestargets protection Implementationlegal of measureswithin climate protectionpackage stages atdifferent advancement:of Coal phaseis out already Climate neutrality neutrality Climate sectoral annual targetsemission missed, department in charge has to submit to chargeanhas immediate action programme. Annual 2030; German government can arbitrarily arbitrarily can reallocate government German 2030; Monitoring process process Monitoring legislated, while specificquantities tender65% of fortargetimplemented renewablesbebytoin 2030 pending expected are - Gesetz ( Gesetz specified through to specified budgets emission sectoral Climate renewable sectoralbudgets. emission sets a by 2050 pursued as long as pursued by 2050 (Fuel Emissions Trading Act) Act) Trading Emissions (Fuel Protection : Political & Political : for target attainment by 2030: attainment2030: by target for legal framework legal energy act ) Act . term target.-term regulatory GHG: Greenhouse gas Greenhouse GHG: If If Climate package Climate amendment of EEG. environment - - 20% primary primary 20% energy( 2020 by consumption ( 2020 by GHG emissions 40% national CO implement national act (BEHG) toNew in transport and heating and transport in New act implements New Reduction of coal of Reduction Climate protection program 2030 program Climate protection specified for specific technologies, e.g. offshore wind offshore e.g. technologies, for specific specified Target of followed by a cap by followed in Germany target raised and 52 GW PV cap lifted. cap PV GW and 52 raised target 65% renewables in 2030 in renewables 65% 2022 and 17GWin 2030. fired capacity from ~40 GW to 30 GW in in GW 30 to ~40 GW capacity from -fired - coal phase by 2038 out phase coal 55% by 2030) by 55% -and , starting in 2021 with fixed prices, starting with in fixed 2021 trade system from 2026 from-trade system - 61 to - and target rangesand target 2 pricing system system pricing 62% by 2030) by 62% at the latest.at the . << Agenda 10

EnBW Factbook 2020 BEHG: BEHG: New installationsmeasures neededand 65% targetfor › › › › › Putting a priceon CO CO Parties placing market fossil on the fuels abbreviation BEHG) adopted 2019 autumn Trading(Fuel Emissions known by Act, German its introducingact New CO national taxes supportsEnBW introduction of cross the Renewable Energy Sources andAct hencecost the of electricity Almost all public revenuefrom BEHG to be used to reduce surchargethe under and German statesand tobe made inlaw 2020 More price BEHG agreed path ambitious German by late government2019 in corridorvolume andlimit advocated a lesscomplex approach incorporating a CO drafting the at stagebut priceAct, higher implementation the of in path Brennstoffemissionshandelsgesetz 2 until 2025, after which certificate trading will be phased in with a a price certificate with after in 2025, which phased trading be until will National CO National Decarbonisation: 2 emissionsheating in transport and sectors (Fuel Emissions Trading Act) Act) Trading Emissions (Fuel 2 2 -Pricing(„BEHG“) in pricing in transport and heating sector sector transport and pricing heating in - sectoral CO National CO National have to have 2 pay a fixed price perof ton pricing systempricing and 2 pricing pricing adds incentives coupling for sector by adding to price the for fossil fuels while while cutting cost ofclimatethe 2 component in energycomponent transport

€/t CO2 100 10 20 30 40 50 60 70 80 90 - 0 friendly electricity applications electricity friendly and and - - - Fixed €25/t CO 0.50ct/kWh Natural No No No 2021 volume market carryover price heating 2 gas: 2022 phase pricing limit year 2023 to year sector 2024 2025 - - - Trading Subsequently Price Market pricing 2026 corridor phase 2027 carryover - - - at least in 2026 at least from and tradeCap Price Price Minimum Fixed 2028 2026 corridor price year price onwards (BEHG 2020) (BEHG 2029 to system year << Agenda 2030 11

EnBW Factbook 2020 (in m m (in t CO emissionssectorGHG by German 1 Source: German Federal Environmental Agency Environmental Federal Source: German 1,100 1,300 Estimation 100 300 500 700 900 0 1,251 1990 2 466 284 210 163 – 90 equivalent) 2020 climate protection targetswithin reach due to corona effects National GHG emissions and climate protection targets protection climate and emissions GHG National 38 1,055 2 2000 208 181 396 167 Manufacturing companies 75 28 2010 943 369 188 149 153 70 14 2019 805 254 188 122 163 68 1 9 Target 2020 751 GHG: Greenhouse gas Greenhouse GHG: Target 2030 562 183 143 72 98 61       Energy Industry Buildings Transportation Agriculture others Waste and 5 Target 62.5 62.5 2050 2 255 – Industry Energy Total amount Agriculture Transportation Buildings Waste and others Waste and Subtotal Sector German Action( PlanGerman targetsemissionsSector forGHG accordingthe to 2 (in m t CO (in m t Energy Energy massive records sector in drop emissions 1,251 1,213 2 1990 - eq.) 466 163 210 284 38 90 Klimaschutzplan) 2050 (in m t CO (in m t 2019 2 - eq.) 254 805 796 163 122 188 68 9 1 (in m t CO (in m t 543 538 175- 140- 95- 70- 58- 2 2030 - - - eq.) 562 557 183 143 98 72 61 5 compared to (reduction << Agenda 62– 56- 56- 42- 67- 51- 34- 1990) 2030 55% 54% 61% 40% 66% 87% 49% 31% 12

EnBW Factbook 2020 (marketGW) capacity; year target each output in coal: lignitehard and forpaths Exit Competitivedecobidding for plants tobe Grid factor: Examination by grid operators 1 17.4 17.8 35.2 2020 In bidding for target year 2027, bid volume to be determined = difference between starting level for target year 2027 and 203 and 2027 year target for level starting between = difference determined be to bid volume 2027, year target bidding In for 15.8 16.9 2021 32.7 14.7 2022 15.1 29.8 GermanGovernmentFederalprotection climate policies 12.3 2023 15.1 27.4 10.7 2024 25.7 15.0 2025 24.1 14.7 9,4 on the basis of basis the on 2026 14.1 23.5 9,4 decommissioned: 2027 South German coal German hard South clearly disadvantaged; “coal by primarily switch” fuel achieved exithere to be (without “grid factor”)(without “grid for plants to be plants to for 2027 22.1 14.1 8,0 Last auction m the so- the missioned 2028 20.9 12.9 8,0 - network are plants respective the whether factor network called 2029 Coalnow exitenshrinedin law; 2020. firstofend auction before expected 11.3 19.3 8,0 2030 16.7 8.7 8,0 mostly without statecompensation Statutory reduction 2031 14.9 6,2 8.7 Lignite Hard coal 2032 12.7 4.0 8.7 2033 10.6 1.9 8.7 2034 8.7 2035 7.8 2036 6.1 0 t argetlevel forhard coal capacity in electricity market. relevant, in order to then determine the order of awardi of order determine the then to in order relevant, 2037 6.1 2038 0.0 › › Lignite › › › › Hard coal then still possible still then compensation 2010; January 1 from commissioned exception: Economic for assessment “recent” plants plan; reduction statutory under compensation no with decommissioning Forced 2031: From factor”) “grid to award no in (due last auction relevance; markup system percentage for by uncompetitive made bid then auction, first in part take to eligible not disadvantaged: plants German South undersubscribed fromdecommissioning auctions if 2024 Compulsory decommissioning possiblefor forbids 2027 by decommissioning via fordetermined decommissioning Compensation target dates (2022, 2030, 2038) 2030, (2022, dates target interim before shortly just Major decommissionings operators with negotiations individual of outcome the be will compensation and path Decommissioning ng. 1 << Agenda - 13

EnBW Factbook 2020 Climate Action 2 1 › › Source: German Federal Government Climate Action Action Climate Government Federal Source: German Source Source generation (now 38% or 225TWh or 38% (now generation 380TWh about need would target that Attaining than 580 TWh less slightly expects 65% target, German the In a the government for scenario 2030 with www.energy 2019 121 48 13 53 7 1 Renewable - charts.de Net new installs by 2030 by new Net installs : RE needed 2030 by RE : Programme ; Fraunhofer ISE, as of 30 September 2019 September 30 of as Fraunhofer ISE, ; Onshore wind Onshore wind Offshore Solar Other 82 13 50 18 2 energy ) gross electricity demand 65% renewables target by 2030 Programme : Regulatory Total 2030 Total forimplementation theof Climate ActionOctober Plan 2019 2050, in renewables 203 20 98 14 71 2 framework - the regulatorythe measures adoptedso far are not enough to attain it New installationsmeasures neededand 65% targetfor › › › Small › › › Solar › Offshore wind Opportunities from digitization and simplified could solution. fromrulesa simplified and be Opportunities digitization installations. are incentives Financial forlacking still direct marketing roof solar small of operation. Direct marketing can be used to keep previously scaledirect marketingbelow) and more (see installs newroofs on and buildings availability,land sufficient small kept via existingoperation installations in Target combined with volume Increased auction land on: depend attainment GW first52 capa stepof Abolition (EnBW target 65% requiresGW/year)grossinstalls in GWnew (~5.5 ~55 40 GW offshore planned. also 2040is by wind Increased 20 GWtargetIncreasedalready 20 is politically agreed. Mid - scale directmarketing assumption: includes 5 includes GW in old installations going out of service)of out going GWold installations in RE: Renewable Energy Renewable RE: subsidised - term target of systems in in systems << Agenda - 14

EnBW Factbook 2020 HVDC: High HVDC: operator system Distribution DSO: operator system Transmission TSO: › › › › › › › distribution grid operators grid distribution and framework for regulatory in the transmission change substantial no to leads generally Ordinance Regulation Incentive of Amendment Ordinance Regulation Incentive the of reform the to due 2018) (from gas and 2019) (from period regulation electricity third the of as respects some 2019 in in improved grids was in distribution framework for regulatory investment The framework regulatory the in changes of account on grids transmission/transport for conditions investment Improved Pressure to be as efficient as possible ongoing due to regulation fluctuations consumption remainof independentto grid revenuescap regulationenables Revenue framework regulatory the of stability increasing the to manageable due risks Regulatory monopoly natural a as term, long the in including regulated, remain grids distribution and transport gas transmission, Electricity Regulatory environment - voltage direct current transmission technology current transmission direct voltage Regulated grids business Regulated Three main challenges for grids: for challenges main Three › › › › › › EnBW's approachessolutions: to Coal grid the to connected plants generation electricity decentralised Many stability grid on impact an have fluctuations uneven increasingly becoming is generation Electricity Germany as a transit country country transit a as Germany transport capacity gas municipal partners municipal by grids distribution the of expansion swift and efficient grids, distribution of expansion smart cars, electric for infrastructure DSOs: gas transportcover networktocapacity requirements the of Expansion cables. underground and lines transmission HVDC between focal point of production and consumption centres;use of TSOs: trading Challenges for grids in EuropeChallengesgrids in for - – to load reversalsflow instancesin possible some New electricity transmission lines can bridge can bridge distance lines the transmission electricity New Expansion of the grids to integrate renewables and charging and charging renewables grids integrate of the to Expansion - gas fuel switching leads to a great increase in demand in demand for great a increase to leads switching fuel gas – large proportion of cross of proportionlarge – - border << Agenda 15

EnBW Factbook 2020 as of 1 January 1January 2009 of as incentiveIntroductionof regulation Regulated grids business: Incentive regulation in Germany Electricity Gas › › › The costs to be recognised for gridrecognised regulationbe operatorsfollowing period. are theto determinedeachyear base for in costs The regulation period. aseveral for operator set are a network for recognised costs and the equity on return as parameters regulatory such Key and cost enc effici the improve continuously to upon are called grid in2009, operators regulation incentive of introduction the Following Cost Cost pricing pricing - - - based based effectiveness of grid investment and grid operation. grid and investment grid of effectiveness 2008 2009 1 st 2010 regulation period 1 2 Base year st nd regulation period regulation period regulation 2011 2 Base year nd nd regulation period regulation for for 2012 for for 2013 2014 2 nd regulation period 2015 2 3 Base year nd rd rd regulation period regulation period regulation 2016 3 Base year rd regulation period regulation for for 2017 for for 2018 2019 3 rd regulation period 2020 3 4 Base year rd th regulation period regulation period regulation 2021 4 Base year th th regulation period regulation for for 2022 for for - year 2023 y << Agenda 16

EnBW Factbook 2020 2 1 KöSt Equity : Körperschaftssteuer EK › › after before 7.85% before EK- after 6.91% before EK- 5.64% after EK- 40% of equity by law ( financingIrrespective of theactual structure,a maximum employed the EK is subject to of 40% of capital Capital employed in excess of this amount is subject to the to amount subject this is of employed in excess Capital 1 - I ratereturn: I of rateI return:of I ratereturn: of Return on new systems for the 3rd regulatory period period regulatory 3rd the for systems new on Return grids business: Regulated GewSt GewSt GewSt 3 KöSt <= 40% – Factor Factor Factor Factor KöSt KöSt corporate tax corporate 2 , , , accounting for accounting for Stromnetzentgeltverordnung 4 3 40% At tax rate 3.50% and multiplier3.50%3.90% ratetax At GewSt Risk premium: premium: Risk rate: Base KöSt GewSt : 2 Gewerbesteuer : 3 1.225 : 1.1365 ratereturn of before before 2.49% Weighted 4 3.15% GewSt KöSt – trade tax , ) 5.00% 5.21% EK - II rate of return. of II rate 60% before before return: EK- EK- after after KöSt before EK- II rate II of II II rate:II , GewSt GewSt KöSt Factor Factor , >40% accounting for 3.09% 3.44% 2.72% 3.03% Gas Gas Electricity - I rate of return as this is capped at cappedthis ofis returnI as rate GewSt 3 : 1.1365 rate series interest Bundesbank 10- year average over over average year 4 << Agenda 17

EnBW Factbook 2020 German AC/DC approvedAC/DC additional lines,Germanreinforcement rewiring and DC: AC: Source: Alternating current Direct current Direct “ Netzentwicklungsplan Regulated grids business: German high German business: grids Regulated Strom 2019- Strom 2030: Bestätigung ”, ”, BNetzA Extension Reinforcement AC DC Existing lines lines grid voltage grid -voltage 3,450 gridkm expansion line in new routes 3 2 1 › › › › › › › upgrading4,400 km in existingroutesline Source: “Zahlen und Fakten zum deutschen Stromnetz”, BMWI BMWI Stromnetz”, deutschen zum Fakten und “Zahlen Source: 2019 Strom “Netzentwicklungsplan Source: - Offshore Excluding › bothonshore and offshoreuntil 2030 €50 bn total estimatedfor investment in transmission grids gridover current length (2020) by Existing expanded grid tobe DC DC AC DC AC to connect new offshoreto connectnew wind farms are dedicatedprojectsbn andbn €30 €18 whereasfor DC – – – – – new lines: ~350 ~350 km lines: new reinforcement/ new IC- new km ~2,850 lines: new rewiring lines: ~250 km ~250 lines: park connection development connection park : ~300 km : ~300 1 rewiring : ~4,100 km ~4,100 : - 3 2030: Bestätigung”, BNetzA 2030: ~ 20% until 2030 3 2 2 << Agenda 18

EnBW Factbook 2020 1 › › › › › › › › › › Source: Kreutzer Kreutzer Source: Increasing volatility of prices and volumes and prices of volatility Increasing Increasing CO futurefor the Commodity prices low, increase expected in back increasingly stations power Conventional plants from power gas generation power Increasing coalstartof phase 2020 especially solar and offshorewind renewable of Expansion energies, Regulatory framework chain value the fragmentation of andcompetition More New market participants: developments Technological Generation tradingand - up role Market Market Vertriebskanalstudie 2 prices - out development : Undergoing constant change, complexity Undergoing: rising constant 2020 : More diversity, diversity, More granularity : in andmodularity the energy system Businessutilities modelslargeof changing; are accelerating development of renewable energiesrenewableofand grids as wellasservices new customers for › › › › › › of hydrogen infrastructure hydrogen of development and Planning - in Baden grids transportation gas of Expansion smart of grids expansion Accelerating increase duee.g. to e- in grids, distribution power of Expansion HVDC especially grid, transmission of Expansion stability grid to challenging generation Volatile electricity Power and gas grids gas and Power HVDC: High HVDC: Württemberg, due to higher demand higher to due Württemberg, - voltage direct current transmission technology current transmission direct voltage mobility › › › › › greenhouse gas tariffs theof includeselected green electricityor Importance eco- of with short range range short with (40%) and combined charging times long (30%) stations charging few (87%), price purchase are high remain:Main electric cars of purchase arguments Upward trend in electromobility, toobstaclesbut dissatisfaction led to often most (28%) price interim increases Higher costs: Most common for reason is energy dissatisfaction satisfaction customer high ensures Sustainability providersecologically oriented to commitment Strong Customers - - than 1 1 energy continues to grow: 43% 43% grow: to continues energy expected costs (45%) and(45%) costs expected 1 << Agenda 19

EnBW Factbook 2020 in GW Installed capacity Source: BDEW, July 2020 July Source: BDEW,    2015 Renewable energies other Conventionaland thermalpower plants Nuclear power 197 11 97 89 German electricity market: Installed capacity and generation and capacity Installed market: electricity German 2016 104 204 11 89 2017 211 113 11 87 2018 118 214 86 10 2019 124 219 10 85 Generation Gross power generation in billion kWh; percentage shares 2 1 Pumped storage generation no longer included, but accounted for as storage withdrawal storage as for accounted but included, longer no generation storage Pumped rounding to due 100% to up add not May    Natural gas Lignite Nuclear power 2015 29% 10% 18% 24% 14% 641 4% 1    2016 29% 13% 17% 23% 13% 644 4% Renewable energies Hard coal Other (oil, pumped pumped storage, (oil, Other etc.) 2017 33% 13% 14% 23% 12% 646 4% 2 2018 35% 13% 13% 23% 12% 636 4% 2019 40% 15% 10% 19% 12% 604 4% << Agenda 2 20

EnBW Factbook 2020 100 110 120 130 140 Energy prices in Germany in prices Energy 2015 base year (annual average). average). (annual year base 2015 the to relative 2015 January since households for heating district and electricity gas, oil, heating for prices) fuel absolute not increase, of rates (indexed prices of development the shows The chart kWh/a) 3,500 (electricity BDEW R 2), 17, (FS Office Statistical Source: Federal 2020; January of as Figures 60 70 80 90 2015 Natural gas energy prices and electricity consumption electricity and prices energy German electricitymarket: Development of household 2016 Heating oil Heating Electricity 2017 District heat 2018 Index Index 2015 = 100 2019 ElectricityGermanyconsumption in Figures as of 31 December 2019; Source: BDEW Source: 2019; December 31 of as Figures in TWh 2015 523 industry due to efficiency and changes in the economic situation of the reduction years; declining consumption electricity recent in Net 2016 526 2017 527 2018 522 2019 512 << Agenda 21

EnBW Factbook 2020 1 Energien Erneuerbare EEG: 2020 January of (BDEW), as Energy Management of figures and Water Association Source: Federal German Electricityprivatefor price households 2020 CHP: cogeneration combined heat and power and heat combined cogeneration CHP: price of % 52.5 households Average concession fee; varies according community of size according to varies fee; concession Average electricity for share private private German electricitymarket: - Gesetz ( Gesetz 2.4% 21.6% 16.0% 6.5% 5.3% renewable 0.7% energy 1.1% Sec. 19 Ordinance 19Sec. 1.1% for Electrical Offshore1.3% liability surcharge Interruptible loads 0.02% levy levy Act CHP EEG levy duty Electricity VAT 19% Concession fee act Low ) - Voltage products surcharge (NEV) 1 Electricity Average electricity price for a 3 a for price Average electricity € cents/kWh€ kWh) 3,500 of consumption (Annual price Figures as of January 2020; Source: Source: BDEW 2020; January of as Figures 2016 28.8 15.5 6.3 7.0 Procurement and sales operation station metering and billing metering, including charges,Network user Taxes,fees and cost allocation 2017 29.3 16.1 7.5 5.7 2018 29.5 16.0 6.2 7.3 - person household 2019 30.5 16.0 7.1 7.4 2020 31.4 16.5 7.7 7.2 << Agenda 22

EnBW Factbook 2020 in €/MWh baseload for Forward price electricity 2 1 25 30 35 40 45 50 55 Clean Clean 2017 - - dark - spark - spread is the corresponding coal the corresponding for is indicator spread f carbon allowances allowances carbon required number of the and gas bought having power, selling from makes generator revenue net a the represents spread German electricitymarket 2018 2019 2020 - fired generation electricity of generation fired 10 -5 in €/MWh Clean 2020 0 5 2017 › (plant efficiency: 36%) (plant efficiency: marginGross of a coal - dark 2018 - spread peak spread 2021 fired power plant plant -fired power 2019 2022 1 2020 2023 10 15 -5 Clean in €/MWh 0 5 › 2017 (plant efficiency: 50%) (plant efficiency: marginGross of a gas - spark- 2018 spread peak fired power plant plant -fired power 2019 2 2020 << Agenda 23

EnBW Factbook 2020 HVDC: High HVDC: 1 Source: “ Source: regulations Unbundling Energiewende the of Challenge Tasks Organisation Marktstammdatenregister - voltage direct current transmission technology current transmission direct voltage distribution grids in Germanydistributiongrids in Comparison for electricitytransmission and › › › › › › › › › ”, ”, BNetzA Transport of wind of Transport Connecting offshore wind farms wind offshore Connecting using underground cables lines transmission (HVDC) current direct voltage high new Building Germany southern to northern Grid length: ~36,700 km ~36,700 length: Grid operator (ITO) transmission independent unbundling, Ownership power balancing Using consumption and generation balance Ensuring between operatorsby Grids owned Amprion 50Hertz, 4 operators: 380 kV, 220 kV (ultra high voltage)(ultra 220 kV 380 kV, Transmission grids ; “ Monitoringbericht - generated electricity from 2019, Stand Stand 2019, 1 Januar , TenneT 2020”, 2020”, , TransnetBW BNetzA › › › › › › › › › › - non to as obligation and business grid the of unbundling financial and Functional meters) smart (e.g. operation metering of digitization and tech grid smart of Use cars electric for infrastructure charging of Integration photovoltaics,(e.g. wind) decentralisedof Connection renewables troubleshooting and incidents Recording Connecting consumers and local providers franchises for Competition by issued municipalities Franchises km ~1,814,300 length: Grid 883 operators up up to 110 kV ( Distribution grids 1 discriminatory use of grid of grid use information discriminatory high/medium/low voltage) 1 << Agenda 24

EnBW Factbook 2020 Electricity grids Electricity › › › Distribution › Transmission › General BMWi 2019), (version 2030 plan development network draft second plan, requirements Federal Source: lines construction consumption investment Changes the Still Feed- Growing Ordinance The concessions distribution grid study 2014, Oliver Wyman/TU München, 2018: “ München, Wyman/TU Oliver 2018: study grid 2014, distribution remodelling electricity strong and in growing in connection geographical ( Electricity grids are the backbone of the “ the of backbone the grids are Electricity grid ) ARegV legislation in trend already grid of as grid grids high of due main the back business extended) : to to voltage energy have e.g offshore local driver to . imbalance revision municipal simplified has generation direct market for wind become transmission current of farms reimbursement between ownership the a growth (HVDC) Incentive generation grid E- (large business Mobilität transmission – for Regulation primarily share costs setzt due and Netzbetreiber to of of unter ” (“E Druck until 2030 forCapex expansion electricity grid of the German in € bn € in Energiewende Transmission - mobility putting pressure on grid operators”), estimates own operators”), grid on pressure mobility putting grids 61 connections Offshore 24 ” Distribution grids 24 through2030 to Total expansion Total 109 << Agenda 25

EnBW Factbook 2020 Gas price 1 subject to large regional variation, figures as of January 2020; Source: BDEW Source: 2020; January of as figures variation, regional large to subject Average net network user charge including charges for metering, metering station operation and billing, billing, and operation station metering metering, for including charges charge user network net Average Regulated network user charges (including metering, billing and billing metering, (including metering station operation) stationmetering Gas procurementand sales German gas gas German (market Taxes duties and - determined) market Single 1 - family home 47% 27% 26% : Gas : price Single € cents/kWh€ kWh) 20,000 consumption (annual Single contract with regional default supplier default regional with contract 2 reduced concession fee (0.03 (0.03 fee concession reduced Most heating gas customers are customers on contract with the regional default supplier with a with supplier default regional the with contract on customers are customers gas heating Most 2016 1.52 5.89 2.75 1.62 - family home, gas central heating including hot water, customer on on customer water, hot including heating central gas family home, Taxes and franchise fees Network user charges, including metering, billingand metering station operation Procurement and sales - family home, gasheating central 2017 1.49 5.73 1.59 2.65 ct /kWh); figures as of January 2020; Source: Source: BDEW 2020; January of as figures /kWh); 2 2018 1.51 5.81 2.77 1.53 2019 1.56 6.17 3.06 1.55 2020 1.54 6.00 2.86 1.60 << Agenda 26

EnBW Factbook 2020 10 15 20 25 30 1 in €/MWh reference prices month Front 0 5 Average of of Average 2016 Gaspool German gas gas German and and 2017 NetConnect Germany (NCG) Germany 2018 market 1 : Front Front : 2019 month 2020 price 10 20 30 40 50 60 in €/MWh prices reference market Spot and and 0 2016 spot market 2017 development 2018 1 2019 2020 << Agenda 27

EnBW Factbook 2020 DSO: Distribution system operator system Distribution DSO: 1 Source: “Monitoring “Monitoring Source: regulations Unbundling Energiewende the of Challenge Tasks Organisation Comparison for gas transportation and distribution grids in Germany in grids distribution and transportation gas for Comparison Bericht 2019, as of January 2020”, 2020”, January of as 2019, › › › › › › › operator (ITO) transmission independent unbundling, Ownership renewables mediumstorage for electricitygenerated from grid gas natural as of use potential term: Long areas) market other or industry and (DSOs versa vice and (transit) points export from import to gas Transport Gaspool ( market areas Two operatorsby Grids owned km ~38,500 length: Grid grid operators16 Transportation grids ) (consolidation planned in 2021) in planned (consolidation ) BNetzA 1 NetConnect 1 Germany and and Germany › › › › › › › › › power via gas natural synthetic and gas natural bio of Integration heating increases heating distance long and heating electricity if utilisation of Degree - non to as obligation and business grid the of unbundling financial and Functional troubleshooting and incidents Recording Connecting consumers and local providers franchises for Competition by issued municipalities Franchises km ~512,200 length: Grid operators grid 708 Distribution - to - gas plants gas 1 discriminatory use of grid of grid use information discriminatory grids 1 << Agenda 28

EnBW Factbook 2020 Gas grids › › › › grid Distribution › Transportation grid 2 1 L- Source: Source: 2018 plan development network Gas Source: to gas fuel switch and the oil the and switch fuel gas to increases requirement capacity the addition, In 2025) by Russia/Norway from L half of (approx. Still strong trend back to municipal ownership municipal to back trend strong Still grid gas natural the to communities of new connection the due to potential Growth “ Smaller scale expansion of compared electricityto because L from market the in Switch environment: regulatory in changes from requirements capacity Increasing gas: low calorific gas calorific low gas: ” has less pronouncedgas has effect on less market Energiewende ” BNetzA / BKartA Gas gridsGas major area element of the “Energiewende” 1 Monitoringbericht - gas from gas from Netherlandsbe to replaced by H H - gas: high calorific gas calorific high gas: - to (Monitoring Report) 2018 Report) (Monitoring - - gas switch in the heating sector heating in the switch gas 2028 - gas to H- to gas due to the coal thedue to gas gas - gas gas - in Germany until 2028 Germanyin Expansiongas transportationtheof grid in MW in Compressors 31.12.2016 2,700 1 Increase 499 Investment of ~€6.9 bn in transportation grids in Germany ~3,200 2028 2018- in in km Transportation lines 31.12.2017 38,800 2028: 2028: 2 Increase 1,364 ~40,150 2028 << Agenda 29

EnBW Factbook 2020 Growth in Germancontracting market 1 m € in Profit pool m € in Value pool Source: Source: 3,925 2015 2015 246 Marktperspektive : Contracting 5,004 2020 2020 310 (Market Outlook) 2016 2016 Outlook) (Market 6,408 2025 2025 394 Market and customer trends require contracting contracting and require Market trends customer providers to adjust capability their portfolios, Media and services from a single source single from a services and Media – sales segment sales mostly in terms of media mix, increased versatility versatility additional and increased services mix,media of mostly in terms Customer trends General markettrends › › › › › › › CO Growingkey sustainability,importance of “special” task area distributedof energy in- maintaining than Increasing demand for outsidestaff (rather reduction of operating risks in energy provision Focuscoreon capex business: energy systems Growing numbers(complex) of distributed Increasinglycomplex regulatoryframework medium Slight Increasingimportance distributed of energy 1 2 - CHP: Cogeneration combined heat and power and heat combined Cogeneration CHP: savings and energyand efficiency savings - term rise in interestratesin rise term houseresources) for , optimisation › › › › › Provider/product trends energydata monitoring systemsas and monitoring such Digitization, more alliances (direct) of marketingExpansion local and presence; sector standardisationfor smaller Ongoing need for complex partial with custom solutions, infrastructure) directmarketing) ( systems and ( services other supply electricity combining with and contracting landlord as such models, combination new packages and of Increasing use energysystems) (and management management energyas such additional services,Integrationof - scale projects and housing e.g. charging - to - tenant << Agenda e.g. 30

EnBW Factbook 2020 Competitors DACH region: Germany, Austriaand Switzerland (DACH region) (DACH International Regional National New International, national, regional and new competitors Companies Key challenge:Optimal positioningKey regulatory/competitive given theenvironment market › › › › › › Characteristics › › energies, grids, sales and/or solutions and/or sales grids, energies, market ondevelopment, for example renewableinFocus markets foreign in selected activities Stable position, national entrance into new business areas business new into entrance market EnBW’s competitionof Newin consequence business core into market participants new of Entry sales and grids on focused mainly activities Business markets regional on Focus sales/solutions especiallyGrowth in renewable energies, grids and Broad - based, internationally oriented growth strategy growth based, oriented internationally PositionEnBW of › › broadband) telecommunication and e (especially - - - growth areas: Main markets foreign and selected on Germany focusing integrated utility an as positioned EnBW is Customer solutions solutions Customer Grids Renewable Energies - mobility mobility << Agenda 31

EnBW Factbook 2020 Retail and customersRetail and 1 › › › › › › › Source: Kreutzer Vertriebskanalstudie 2020 Vertriebskanalstudie Kreutzer Source: include eco- exchangers gas and electricity for tariffs of 43% 2019: of beginning the since selected tariffs electricity regional of number increasing in the seen be can electricity green of funding options, the range of prosumer products increased further in2019 further increased products prosumer of range the options, funding and of variety state the considerations and environmental cost to Due prosumers. Local energy production by customers onrise: theConsumersare becoming them for important was provider regional a that indicated churned who customers of 33% significant: become also has of providers regionality The Eco- requirement is covered by one soleprovider Provision of a broad portfolio is intended to ensurethat a household’sentire energy for Developing ecosystemscustomersin order to be able to serve all their needs: partners Non related additional services. - energy with products their supplementing increasingly are utilities customers, for emotive or interesting more products gas and electricity Inorder make to significant. pure and still is gas) (electricity business Commodity and market shares customers for competing increasingly are intermediaries and suppliers disruptive entrants, Lateral sensitivity price Growing energy has a greaterenergy supplier.influenceof onchoice customers’ The “Energiewende“ energy 1 1 and new competitors lead to fiercer competition lead to competitors new and – - industry companiesindustry to bepopularcontinue sales trends increases related or nonrelated or competition The popularity popularity The - energy 1 - Gas Cumulative rate ofchurn retail customers competition: Strong Electricity % in Source: BDEW 2019 BDEW Source: 2015 2015 30.9 39.5 2016 2016 32.3 42.0 2017 2017 42.6 33.2 2018 2018 34.5 43.8 2019 2019 46.0 36.0 << Agenda 32

EnBW Factbook 2020 Business segments Corporate sustainability Strategy Market environment EnBWa glance at Strategy › › › › › › › Innovation Research developmentand Digitization Contracting Broadband 2025 strategyEnBW 2020 strategyEnBW ……………………………………………………….…………………………………………………………………………..… Strategy …………………..………………………………………………………………………………..…….…… …………………………………………………………………………………………………..… ……..……………….…………………………………………………………………………..… ………………………………………………………………………………………..… 56 45 33 05 02 Service Corporate governance Capital markets Keynon- and financials EnBW’smain shareholdings …………………………………………..……………………………………………………………………………………..…..… ………….………………………….…………………………………………………………………..…..… ………………………………………………………………………………………..…..… financials ……………………..………………..…………………………...…….…… ……..……………….……………………………..…….… 136 132 120 109 97 33

EnBW Factbook 2020 (published in 2013) in (published 2020 strategyEnBW Adjustedbn EBITDA€ in Sales Renewable Energies GenerationTrading and Grids EBITDA target already achieved in in 2019 achieved already target EBITDA successful transformation Portfolio 2012 1.2 0.2 0.2 0.8 2.4 +25% +100% +250% - 80% – 2020 0.4 1.0 0.7 2.4 0.3 2.4 2019 0.3 0.4 1.3 0.5 << Agenda 34

EnBW Factbook 2020 Supply chain is subject to rapidchangesSupply subject to chain is Decarbonisation smart grids smart Decentralised energy system technologicaladvancements areentering the market etc. etc. networking digitization, individualisation, Changingharderand to predict customer behaviourto due consequencedemography,of urbanisation etc. Rising need for smart and reliable infrastructure and digitization (e.g. e digitization (e.g. and Energy infrastructureand converge issues is based on key trends key on is based our of Evolution 2020 strategy into 2025 strategy influences political and regulatory and actions political influences - mobility) due to renewable energies and , as new competitors , and as new due to electrificationdue as a infrastructure Sustainable strategy partner EnBW 2025 << Agenda 35

EnBW Factbook 2020 Ongoing strategic development strategic Ongoing Integrated Holistic » » Generation Trading and Realignment and » » » Sales Four Energy utilities “Energiewende.on.” Safe. Hands EnBW 2020 Renewable Grids segments Finance focus corporate a sustainable and innovative infrastructure infrastructure partner innovative and sustainable a EnBW 2025 strategy - strategy 2025 EnBW strategy Energies on stakeholders repositioning strategy Strategy t he he to becoming path - Multi dimensional and Society Customers Three » Smart Smart » Growth » System System » Infrastructure “Making and shaping the infrastructure and shaping “Making EnBW 2025 » Sustainable goal strategic system infrastructure critical strategy generation provider business infrastructure for Employees infrastructure fields customers world of Environment tomorrow .” << Agenda 36

EnBW Factbook 2020 Adjusted EBITDA in € bn Adjusted € EBITDA in From EEG: Erneuerbare Energien Erneuerbare EEG: › › › infrastructure generation Sustainable › First projects in post projects in First Germany in portfolio energy solar MW 600 MW 4,500 to capacity power wind Increase Internationalisation portfolio EnBW EnBW innovative - Gesetz ( Gesetz transformation into selected foreign markets selected into - EEG phase without subsidies subsidies without phase EEG 2025 s renewable infrastructure › › › for customers Smart infrastructure energy trategy trategy infrastructures) to further to and further new models digital infrastructures) business critical operating and (managing competency EnBW’s Transferring top targeting activities, and service infrastructure by sector telecommunication in the Growth leadership market of retention and points charging 10,000 than more to grid charging quick of Expansion act ) to growing - developing partner - 3 position among “alternative” “alternative” among position 3 profitability 1.3 into 3.2 0.6 a sustainable fibre 1.3 optic providers and and › › › › - System getting ready H ready getting by sector gas the in transformation the Enabling grids distribution in authorities local for model Participation e of integration the preparing as demands them for such future and grids smart into grids distribution Converting of construction by network transmission of Expansion Suedlink critical infrastructure and Ultranet and - 2 mobility gas infrastructure gas << Agenda 37

EnBW Factbook 2020 Rising datarates trends &developmentMarket (gigabytes per month) per (gigabytes Germany in subscriber line fixed per volume Data 2015 > 75% of all of all need users 75% > at Opticalonly fibreis the technology thatcan deliver the least least 50 Mbit/s 50 Mbit/s speed strong growth in coming years strong growth coming in Broadband and telecommunications market to see download download 2020 179 least least > 75% of all of all need users 75% > at 500 Mbit/s 500 Mbit/s speed​ 24.7 download download 2025 825 Large proportion of users require require users of proportion Large bandwidth data data rate​ >1 Gbit/s 2,400 2030 needed EnBW’s ambitions & goalsEnBW’sambitions & EnBW provides services spanning entirethe value chain › › › Rollout andprovisionof passive infrastructure network infrastructure owner. infrastructure network andBW Plusnet Netcom operator, role of EnBW theGoing beyond provider. infrastructure an into evolution further part integral of our an is Telecommunication services. telecommunication driving rapidly indemand and growth for bandwidths high and corona accelerated crisis by is the massively has been Digitization Telecommunications Telecommunications is strategy integral strategy to our Integrated networkoperator&serviceprovider active network provision of Rollout and – will also establish itself here as here itself establish will also Provision of – services through subsidiaries subsidiaries through additional services Provision of << Agenda 38

EnBW Factbook 2020 Number of customers Number of Total customer growth as of 31 December 2019 December 31 of as 24,000 2014 Broadband Broadband 56,000 2019 at at 65,000 NetCom 2020 BW » » » » » » construction and expansion and construction 200 connected mobile phone locations in outside Baden locations of customer Integration - in Baden municipalities of >42% Serves - in Baden backbone networkbiggest Second cable km fibre 15,200 optic of Around industrial and commercial 7,700 which of customers, 56,000 Approx. (in cooperation with with cooperation (in Württemberg Württemberg - Württemberg Württemberg GasLINE & ) Plusnet   Existing areas Expansion areas << Agenda 39

EnBW Factbook 2020 CHP: Cogeneration combined heat and power and heat combined Cogeneration CHP: competitors? Whoour are Whatdo we do? : Contracting › › contracting providersGermanyin 5 topamong EnBW the › › Regions › › › Customers Highly fragmented market with > 500providers, most without primary focus in terms of customer segments and media; occasional Five main providermainFive groups Baden (housingcurrently sector Germany selected regions) Public sector Housing sector Industry (similar capability portfolio and national presence) Energy groups’ subsidiaries contractorsindependent and competitorsEnBW’smain are - Württemberg and Business area continuously builtover 15years,up positioned as establishedcontracting providerin Germany Capability › Contracts contract 200 plantsunder › › › portfolio Municipal Municipal utilities (e.g. providers providers/facilitymanagementBuilding systems service Enercity Solutions, Energy MVV E.ON, (e.g. major ofenergy Contractinggroups subsidiaries › Product/service portfolio › − − − − contracting performanceenergy supply/energy under energy systems focus Main Additional services such as networks and energy networks and efficiency such services as Additional currently up to 100 to up currently (includingcomplex large plants, types plant range ofWide Integrated single e.g. Operation managementefficient and management system photovoltaics/storage systems energy efficiency optimisation, charging infrastructure, Packages linked additionalwith services such as directmarketing, optimisationoperation of system Techem : Design and and and - - sourcetailoredpackages, custom build- MWth Engie competitors operate- ) ) finance services for distributedfinance for services / Danpower ) › › Component manufacturers(e.g. Siemens/Bosch) Independent contractors (e.g. › Systems/technologies › Media air systems, ventilationsystems, systems air compressed turbines,gas systems, refrigerationboilers, plants,CHP ventilation compressed air, CHP, Heat (hot water, steam), refrigeration, ta keovers Getec ) << Agenda 40

EnBW Factbook 2020 Value chain Value BUSINESS BUSINESS CORE NEW NEW artificial intelligence, blockchain artificial intelligence, 30+ initiatives arounddata,advanced analytics, Digitization quarter development cities,plant, smart e Sales & Operations Sales & Grids Trading Generation - mobility, virtual power mobility, virtual within EnBW Impact Low High dimensions Relevant organisation and capabilities Technology processes Products People, & communities About 600 employees actively involved, with around 15 Focus Modern customer interaction customer Modern maintenanceOptimisation of forecasting Improved Automated trading Predictive maintenance availability Increased Digital customer experience Digital customer New products from external sources from training / furthereducationtalent and new Developmentdigital of competencies through of customers and systems customers of Interconnection Digitalmodels business << Agenda 41

EnBW Factbook 2020 › Example: Offshore wind farms for deeper sea regions sea winddeeper farms for Example: Offshore Generatedthrough pilot and demonstration projects opportunities. business future for capacity builds development and Research › › opportunities business future for skills right The › › › on focus particular with and demonstrations by Pilots doing: Learning › › › Explore › 1 operation in deeper sea deeper in operation off floating for reconstruct windfarms Wanted:to how Smart city technologySmart Critical infrastructure Sustainable energywind, provision offshore e.g.hydrogen Excitingtoprojects attract R&D future employees Win public opinionattractive with solutions Newforthe skills energy businessthe of future Request Game Emerging technologies New partnerships new -changing technologies solutions Creating know Creating Research anddevelopment: shore -shore ? › 2 and suppliers units, customers business with together projects and demonstrationStudies Research or -how for new opportunities or › › › 3 collaborations Early-stage strategic offerscommercial forbasis Reliable building Capacity approach prepared approach Commercial 1 in € m € in Expendituredevelopmentresearch, on innovation and Also includes green gases gases green includes Also 23.0 4.0 4.3 0.9 5.8 2.2 0.4 1 2 2018 40.6 +34% 2019 54.4 2 Includes hydrogen mobility hydrogen Includes 7.2 4.0 0.8 30.7 2.1 1.5 0.8 7.4 1 3 Innovation management Generationfrom renewables Grids storageand electromobility Smart energyworld, Hydrogen mobility Customerrelated researchprojects Dismantling Other 3 Excluding hydrogen mobility hydrogen Excluding << Agenda 42

EnBW Factbook 2020 1 as as › of 1 July 2020 July 1 of 47 › › › › 20 7 11 9 projects since launch 16 September 2014 16September launch since projects projects projects projects Phase in Incubation active projects Innovation NETZlive Pre MeEMob Gridpool HEAT in adopted stopped - Scale Seed - X Phase 1 Incubation KWK BOp Venture Capital Unit, EnBW New Ventures New Capital Venture EnBW Unit, 8 adopted Teams by group, 1 handed ourto over Seed : Start - up with late with 2019, to 2018 from doubled than more Revenue last year. last - phase projects generating over €50generating m projectsphase over Company Builder Company Scale << Agenda 43

EnBW Factbook 2020 › 1 › › New VenturesEnBW follows activean portfolio approach › › › › start- EnBWNew Ventures theis open innovation connection between as Open for syndication in a traditional venture capital approach capital venture traditional a in syndication for Open - 20 start to up S Evergreen models business innovative based onproducts and services with Cooperativeapproachbusiness foster to options and growth cycles from fast innovation benefits EnBW suppliers EnBW of Start investor Capital Venture - Win of 30 September 2020 September 30 of ecure minority shareholdings of between 10% and in and 30% 10% between of shareholdings minority ecure ups and EnBW Group win for both sides, with with for sides, both win - www.env.vc ups gain access to EnBW’s energyups market gain EnBW’s toaccess andexpertise, customers Venture Capital Venture Venture capital investments in innovative -ups start innovative in investments capital Venture ups, with an investment period of four to eight years in each case each in years eight to four of period investment an with ups, investor with total investment amount of €100 m €100 of amount investment total with investor EnBW New Ventures Ventures New EnBW operating as professional as professional › › › towards becoming a sustainable and digital infrastructure operator startThe Examples: - start 7/11 - 11 start - ups that we invest in engage wethat invest ups and in engage in scaletransformationits EnBW with ups and 1 fund 1 and ups ups already collaborate with EnBW already collaborate withups 1 - of - Yello DZ investment. upfront rooftop withoutyour on solar power yourown use infrastructure area improvea product theirroad to concession vialytics maintenance. road their monitor and plan municipalities help to solution intelligence Artificial vialytics DZ fund investment fund - - 4: 4: 4 providestheir product label as white to Solar. Photovoltaicsleasing provider : helps EnBW to offer municipalities in their intheir municipalities offer to EnBW helps Artificial intelligence for better roads – roads better for intelligence Artificial – generate and << Agenda 44

EnBW Factbook 2020 Business segments Corporate Sustainability Strategy Market environment EnBWa glance at Corporate sustainability Corporate › › › › › Climate neutrality Decarbonisation Sustainability ratings activitiesDimensions and Sustainable financeactivities ……………………………………………………….…………………………………………………………………………..… Corporate …………………..………………………………………………………………………………..…….…… …………………………………………………………………………………………………..… ……..……………….…………………………………………………………………………..… ………………………………………………………………………………………..… s ustainability 56 45 33 05 02 Service Corporate governance Capital markets Keynon- and financials EnBW’smain shareholdings …………………………………………..……………………………………………………………………………………..…..… ………….………………………….…………………………………………………………………..…..… ………………………………………………………………………………………..…..… financials ……………………..………………..…………………………...…….…… ……..……………….……………………………..…….… 136 132 120 109 97 45

EnBW Factbook 2020 EnBW Group value added value Group EnBW 1 We define value added as EnBW’s cash EnBW’s as added value define We Expertise Infrastructure Environment Employees Relationships Finance for itsstakeholders for and EnBW Transparent presentationcreationvalue of (resources) Input Input - relevant business performance in the past financial year minus cash minus year financial past the in performance business relevant Grids 1 business GenerationTrading and cash €20,861 Renewable Energies EnBW EnBW (2019) - performance relevant relevant m : Sales - relevant expenses. relevant Output Output creation) (value expenditure operational other and material providers service and Suppliers interest Outsideinvestors (5%) dividends Shareholders (7%) taxes State (19%) retained cash flow EnBW Group (26%) and salaries wages Active and formeremployees (43%) : Use €16,133 m €4,728 m (2019) (2019) of << Agenda value 46

EnBW Factbook 2020 Integral part of our strategy Corporate responsibility − › › › › › in integrated is Sustainability today and future. in the a whole shareholders,aspartners customers, employees, and society Creation economic of as as ecological well and social added value for our sustainability of understanding Our Stakeholder management and communication ( communication and management Stakeholder ( management Risk ( financing Corporate Corporate management ( ( strategy Corporate Corporate sustainability Corporate e.g. e.g. e.g. risk and opportunities) and risk sustainable vision) sustainable e.g. Green Bonds) EnBW 2025 innovative ourselves - non financial top KPIs and targets) and KPIs top financial infrastructure into strategy a sustainable e.g. : Transforming Integrated Annual Report) Annual Integrated partner and and . – Economic, environmental socialand activities › › › Social › › › Environmental › › › Economic (2019) (2019) and solar projectswind developer of French the of Acquisition broadband and the of acquisition the with business telecommunications of the Expansion (2019) bond: T German a as green first subordinated the issue company to EnBW projects by employees EnBW and charitable social of Support campaign: bus happen” “Making it Stöckach EnBW the of use future the for campaigns and office Information employees Projects and campaignsoccupationaland health onfor safety 2020 of beginning already the at neutral subsidiary EnBW Germany/Switzerland in companies energy integrated first the of one As in Germany of at infrastructure end 2019 the e of operator largest the as EnBW EnBW (2019) Germany in project wind offshore largest the of Completion opens up Hohe wo green subordinated bonds with total issue size of €1 €1 bn of size issue total with bonds subordinated green wo site for affordable and innovative living living innovative and affordable for site Albatros See/ potential for international growth international for potential fibre optic company with a total output of 609 MW 609 of output a total with - mobility quick mobility Plusnet Energiedienst (2019) - charging charging became climate << Agenda Valeco : 47

EnBW Factbook 2020 ( “Electric Utilities” sector globally)“Electricsector Utilities” Manage 2018 ment B Climate rating - Top 25% (2019) Top Corporate CDP Manage 2019 ment B sustainability - Outper former 2018 („Utilities“ („Utilities“ 73 - Sustainalytics ESG rating Top 14% (2019) Top : Ratings : sector globally Outper former 2019 77 ) - („Multi Utilities“ Utilities“ („Multi - Prime Status 2018 B- ESG rating Top 10% (2019) Top ISS ESG sector globally - Prime Status 2019 B - ) Leader 2018 AA ( „Utilities“ „Utilities“ ESG rating Top 24% (2019) Top MSCI sector globally Leader 2019 AA << Agenda ) 48

EnBW Factbook 2020 › › › Bonds EnBW Green › › › › awareness on relevant sustainability topics Active engagement topromote communication and raise EnBW engagement − − − − International IntegratedInternational Reporting (IIRC) Council Committee SustainableFinanceGerman Task ForceClimate on Technical Expert Group Sustainableon Finance(TEG) Green subordinated bond in June 2020: Two green subordinated bonds in July 2019: First green bond bond First green in Issuance size €500 m, senior bond senior m, €500 size Issuance Issuance size €500 m €500 size Issuance First German First green subordinated bond issuer m) €500 (each bn €1 size issuance Total EnBW sustainable finance activities finance sustainable EnBW October 2018: - relatedDisclosures Financial (TCFD) EnBW reporting EnBW › › Sustainability Reporting › Integrated Reporting Annual climate reporting as part of the CDP rating CDP the part of as reporting climate Annual GRI the Standardson sustainabilityreportingAnnual based is Reporting since (IIRC) 2014 Council recommendationsthe Integrated International of the publishesEnBW the Integrated Annual Report based on › › BondGreen Impact Reporting FinancingandGreen EnBW Framework benefit for for climate. the benefit added the discloses value from our projects in terms of It annually. published is Report Impact Bond Green The required. as updates regular with publishedOctober 2018 inBond Principles.wasGreen It The Green Financing Framework is based onICMA the << Agenda 49

EnBW Factbook 2020 1 Run › › › toaction? climate Why is EnBW committed - climate action/sustainability climate delivers EnBW on itssocial responsibility for low EnBW’sstrategic can be with attained goals markets energyin the sector Low of - river power plants, pumped storage power plants with natural inflow, wind power, photovoltaic and other and photovoltaic power, wind inflow, natural with plants power storage pumped plants, power river - - carbon activities carbon carbon business areasbusinesscarbon are keygrowth to attainment of climate targets climate of attainment to geared fully activities Business Decarbonisation: Adjusted EBIT renewablesEnBW growth › › › in Francein Sweden and business Selective 2025 by Offshoregrowth wind MW 1,500 ≥ to 2025 by MW 2020/2,000 MW by 1,000 Onshore growth wind to 2012 0.2 D by further A in € bn € in A 2025, 2025, 2020 target internationalisation of of internationalisation with 0.7 substantial 2025 target 1 1.4 base 54% ~35,000 households annual energy savings equivalent to to equivalent savings energy annual delivered has alone, EnBW customers industrial for networks efficiency energy its of means By activities EnBW’srenewable energy theoretically beservedby Württemberg can - in Baden consumption householdof electricity (300 GWh/p.a.) << Agenda 50

EnBW Factbook 2020 in g CO g in CO EnBW ---  Target corridor to 2020 2015 606 EnBW Group 2 /kWh CO protection: climate and Decarbonisation 2016 577 2 intensity 2 Intensityperformance key indicator 2017 556 2018 553 2019 419 2020 comparedthe to CO 2015 base yearbase 2015 EnBW Goal: Goal: EnBW Reduction of 15% to 20% 20% to 15% 2 intensity by › › › › › amount of CO of amount generatedand theemissions volume electricity. of specificallyIt describesthe Important Important factors for uncertainty 2020forecastin the include: energy sourcesdue tofurtherthe expansion renewableof energies. weexpect2020, increaseIn an fromgeneration electricity inown renewable by to24.2% 419g/kWh to: due decreaseIn 2019 significant in comparison to previous the year energy. nuclear of out performancephasing the influenced by be not indicator will electricityThe generated nuclear by powerincluded. the So notplants is keyThe performance indicatorCO › › › › potential impact coronavirusof pandemic poweron generation volatility of wind and the water supplies much more sharply thanforecast due tomarket fromgeneration electricity fossilour fuel higher generation from renewable sources developments 2 released kilowattby hour. 2 intensity is is ratiothe intensity the between - fired power plants fell - driven << Agenda 51

EnBW Factbook 2020 Reasons choosingfor 2035 yearforas the targetEnBW climate neutrality to attain 2035 2030 2045 2040 EnBWneutralityforaims climate endthe2035 of by Climate neutrality in line with Paris climate with targets in line Climate neutrality below 2 ° (“well Well positionedcompared tocompetitors in terms ambition of level Allows transition time in sufficient line regulatedwith coal exit path Feasible because remaining lowemissions and able tobe offset Representsbalancea differing between stakeholder expectations at reasonableat cost C”) << Agenda 52

EnBW Factbook 2020 › › › exit/fuelCoal switch 3 2 1 All direct emissions emissions direct All the by used and purchased electricity from emissions Indirect coal EnBW’s Of plant plants 2030 still in biomass, hydrogen biomass, etc. to natural gas, biogas/ switchgeneration fuel District heating/power Only latest coal phaseout (Partly)required by 1 expected to be operation and one and EnBW uses various instruments on the path to climate neutrality climate to path the instruments on various uses EnBW - fired power stations, only RDK8, GKM9 and LIP currently still expected to be in service beyond 2030, plus electr plus 2030, beyond service in be to expected still currently LIP and GKM9 RDK8, only stations, power fired hard from the activitiesan of lignite coal in in › › gases climate Use of - organisation 2030s - mid until available tobe universally hydrogenexpected not Climate term necessary mediumin neutral gases Transitionclimate- to or under their control their under or - neutral organisation neutral . . › › Use grid loss purchases lossgrid Surcharge forgreen Scope 2 grid loss purchases in substitutefor ‘grey’ Mainly relevant as of green 2 electricity icity Walsumfrom in 2030 › › Offsetting over over R (Scope 1 offsetting allowances purchaseof recognised by offsetemissions Unavoidable residual eduction prioritised offsetting 3 ) › › options Other emissions at EnBW atemissions 2% of total About emissions) canteenbuilding and emissions (suchas relatively small Action package to avoid - << Agenda scale scale 53

EnBW Factbook 2020 5 4 3 2 1 Emissionmeasures and targets (GW) generation capacity - Coal Mt CO Mt Scope Scope Indirect emissions from electricity purchased and used by the the by used and purchased electricity from emissions Indirect All direct emissionsfrom the activitiesan of organisation 2020 October of As 2 and 1 Scope for Target losses) grid and generation power (mainly 2 and 1 Scope for figure Starting fired 2 1 2 5 4 50% by 2030, net zero by 2035 zero by net 2030, by 50% EnBWclear hasa › 1 › › 17.5 2018 purchases (electricity) Start green of grid loss building etc. emissions etc. building canteen, Reductionfleet, in switch fuel gas toCoal 4.6 3 or under their control. control. their under or cut implementation-cutplan for emission reductions: organisation By 2025 - 50% . › › › › Green grid losspurchases; possibly additional reduction measures other of Continuation Fuel switch decomissioned coal First - fired powerplants By 2030 2.1 8.8 › › › 2 attainment of H of attainment Offsetting ( reduction measures other of Continuation plants remaining coal of Decommissioning - 100% only offsetting - 2 if fired power readiness necessary By 2035 measures ), ), zero Net Net 0.0 › › › Beyond 2 reduction measures other of Continuation emissions residualof Offsetting fossil (hydrogen) climate neutralgases to fromConversion gas natural 2035 << Agenda 54

EnBW Factbook 2020 SRU: Sachverständigenrat für Umweltfragen ( Umweltfragen für Sachverständigenrat SRU: [Mt [Mt probability2/3 with of1.75 EnBW residual emissions budget › emission budget Paris Calculation of › › › Long Council on Council Environmentthe (SRU) Advisory German on Based from 2036 Offsets – – CO 100% by year100% by 2030 50% by - Clear term climate targets for EnBW 2 ] for unavoidable residual emissions EnBW's climate - end 2035 - compliant residual transition targets - ~140 EnBW: ~ 2,500 ~ industry: energy German 6,700 (SRU): Germany ° C global warming German Advisory Council on the Environment) the on Council Advisory German 160 towards › › › generation) (currently3,400 employees in conventional additional No cutsjob such asoffshorepower in windsuch areas today, inother expertise technical their contributing already are employees generationpower Former conventional planning HR forward and e.g.) training (further HR instruments from suitable exit coal: the in responsibility social its on delivers EnBW path decommissioning statutory the of excess in plants fired power coal decommissioning mean not does 2035 by neutrality climate EnBW Attaining climate Just transition neutrality - is looking looking a just transition just a - › › › Cost management requirements minimum prevailing with complies thus EnBW climate of use due to 2040, 2036 to trend (notably declining on Offsetting EnBW by attainable realistically target 50% No need foroffsetting Financial offsets onlybe needed from expectedto according - friendly gases in power plants) in power friendly gases feasibility expected up to 2035expected up to as to Gold Standard andGold << Agenda 55

EnBW Factbook 2020 Business Segments Corporate sustainability Strategy Market environment EnBWa glance at Business segments › › › › ……………………………………………………….…………………………………………………………………………..… Generation Tradingand Renewable Energies Grids Sales Business Business …………………..………………………………………………………………………………..…….…… …………………………………………………………………………………………………..… ……..……………….…………………………………………………………………………..… ………………………………………………………………………………………..… segments 56 45 33 05 02 Service Corporate governance Capital markets Keynon- and financials EnBW’smain shareholdings …………………………………………..……………………………………………………………………………………..…..… ………….………………………….…………………………………………………………………..…..… ………………………………………………………………………………………..…..… financials ……………………..………………..…………………………...…….…… ……..……………….……………………………..…….… 136 132 120 109 97 56

EnBW Factbook 2020 1 as of 31 December 2020 December 31 of as authorities; collaboration with municipal utilities; telecommunications utilities; municipal with collaboration authorities; energy supply and energy : Tasks › › › renewable : Tasks › › › Investments : Employees Adjusted EBITDA Investments : Employees Adjusted EBITDA Renewable Renewable Sales Sale of electricity, gas, energy industry services and energy solutions; solutions; and energy services industry gas, energy Sale electricity, of Project development and management, construction and operation of of operationandmanagement, and Project development construction energy Segment 1 1 : : power plants : : Energies - saving contracting; contracting; saving overview HVDC: High HVDC: €132.4 m €132.4 m €294.3 4,394 €1,552.6 m €1,552.6 1,384 €482.8 m €482.8 cooperations 2019 - voltage direct current transmission technology current transmission direct voltage with local local with of HVDC connections; provision of of grid provision connections; HVDC of : Tasks › guaranteeing the security of supply and system stability system and supply of security the guaranteeing renewable energy power plants power renewable energy of distribution direct services; environmental / management waste heating; district midstream business, gas plants; power reserve of operation services; system of provision and gas, electricity trading of gas; of storage plants; power : Tasks › › › › › Investments : Investments : Employees Adjusted EBITDA Employees Adjusted EBITDA Generation Tradingand Transmission and distribution of electricity and gas as well as expansion expansion as well as and gas electricity of and distribution Transmission Advisory services, construction, operation and dismantling of thermal thermal of dismantling and operation construction, services, Advisory Grids 1 1 : : : : - related services; water supply; water related services; €1,230.9 m €1,230.9 9,254 €98.3 m €98.3 5,499 €383.8 m €383.8 m €1,311.2 << Agenda 57

EnBW Factbook 2020 ² Not fully consolidated, accounted for using the equity method. method. equity the using for accounted consolidated, fully Not ² 1 › › › › › › › › › › › Directly and indirectly held shares. held indirectly and Directly Laufenburg AG Holding Energiedienst Karlsruhe,- Baden EnergieEnBW Baden EnBW Ostwürttemberg Karlsruhe,- Baden ErdgasSüdwest GmbH Ellwangen,- Baden Stuttgart, Baden Stuttgart, GmbH BW Netze Baden Stuttgart, GasVersorgung Heilbronn, Baden Heilbronn, EnergieZEAG AG Baden Stuttgart, GmbH TransnetBW Baden Stuttgart, GmbHterranets bw Ellwangen,- Baden NetCom Montpellier, France Valeco SAS BW GmbH BW , Selected EnBW Switzerland Süddeutschland GmbH - - - - - Württemberg, Germany Württemberg, Germany Württemberg, Germany Württemberg, Germany Württemberg, Germany Württemberg, Germany Württemberg, Germany Württemberg, Germany Württemberg, Germany - Württemberg AG Württemberg DonauRies AG companies Further information shareholdings: shareholdings: information Further published at is December 2019 31 of as statements financial consolidated of The set full ures”. los disc “Additional (36) under statements financial consolidated the to notes the in found be can shareholdings of list The full www.enbw.com/shareholdings Istanbul, Turkey Borusan EnBW Prague, Czech Republic Pražská Cologne, Germany GmbH Strom Yello Germany Leipzig, AG VNG Düsseldorf, Germany Stadtwerke DüsseldorfGroup Cologne, Germany Plusnet Germany Leipzig, ONTRAS GastransportGmbH Balle Connected Wind Services A / S Falkenberg, Sweden EnBW www.enbw.com/report2019 , Denmark Sverige GmbH energetika AB Enerji a.s yatırımları . 1 - downloads ve Üretim A.S. 2 << Agenda 58

EnBW Factbook 2020 Electricity sales 1 Gas sales in bn kWh bn in The figures for the previous year have been restated been have year previous the for figures The Trading Business and industrial(B2B) customersand Business Retailcommercialand customers(B2C) Retailcommercialand customers(B2C) Business and industrial(B2B) customersand Business Trading 1 Electricity and gas sales gas and 117.3 152.6 297.0 223.4 2019 2019 20.5 14.8 17.4 56.2 100.0 136.8 328.7 260.8 2018 2018 21.9 14.9 17.1 50.8 Variance % in Variance % in << Agenda - 17.3 11.5 10.6 14.3 - - - 6.4 0.7 9.6 1.8 59

EnBW Factbook 2020 Key highlights › Municipal utility companies Germany in › › Network › › › Sales organisation › › › Customers B2B: Business to business to Business B2B: Plusnet links customer ~1,050 and stations base ~150 with Germany in network WLL B2B independent central offices,(DSL) businesslargestasto thefully marketstailored as well Plusnet state Fully invested, interactionindirectSeamless betweenand with directproducts strong sales Strongchannel direct sales and indirectnetwork with sales than more partners 300 Significant inexperiencewith B2B long sales No cluster risk Overall ~25,000 business customers - Well building for andaccess solutionsmunicipal open utilityofferingcompanies, unique white label known and loyal customer baseand loyalknown - is well positioned to be the go- be to positionedis well andthirdowns operates largestcopper blocks Plusnet – customerdiversified base wellregion,by industry,and size products - of CO: Central office Central CO: - the - art redundant 100Gbit redundant art - Leading nationwide B2B telecoms operator telecoms B2B nationwide Leading to provider of network services, whiteproviderof network label services, to WLL - : Wireless local loop local Wireless : term employees - based access network with 1,374 with 1,374network access based /s backbone MSC: Metropolitan service centre service Metropolitan MSC: Central offices network offices Central Telekom and Vodafone and Telekom besides Deutsche network CO Largest CO location MSC location MSC << Agenda 60

EnBW Factbook 2020 Business model › Market attractiveness › › › › › › and Our pressure relevant Market Market Market for growth Sales operators Technology processes Processes across energy Customer scale external EnBW the : business remodelling all opportunities, Customer opportunities companies, size market dynamics operations on : products, customers : and Our business model for energy unit: business operations EnBW : our : costs Market Increased Services avoidance process subsidiaries, ( 2020) - ; centred : need of business suppliers, offers Growing for . : especially the Technology in either outsourcing to energy Germany efficiency of energy sales, and meet redundant unit EnBW, as challenges distribution services - in related regulatory market targeted software provides shift the is through approximately Yello area data and services , - exploitation for system products as- of requirements storage Netze economies smart a lean municipal - service very BW operators, € metering and customer 2 fragmented; and .7 of of - (SaaS) services 3 and customer scale utilities .0 Co bn billing solutions ., metering - . focused offer and only for related services services -related the from potential technology external significant internal or strategic point full- E2 rising E Product, services services Product, coreand competences Utility Utility cloud platform Smart metering Process operations and and Consulting training and and Smart innovations services << Agenda 61

EnBW Factbook 2020 Key highlights DACH region: Germany, Austriaand Switzerland Our Fast Consulting Germany. charging EnBW EnBW and and - sales range charging offers locations 410 E the -mobility of locations Location analysis most services all over fast today - : Key : Key project planning, civil engineering Examples Planning, facts of of partners and and Access Access billing and and references and and Operation Operation service EnBW mobility+tariffEnBW and app … is awarded is times: multiple … largestoffers the … coverage network regionDACH in … mobility+EnBW … › › › › › is operating operating is mostthe fast - Cost, charge drive power, Cost, time, … Data analysis simulated km 4,000,000 Over Driving simulation Selection multiple of rates Payment tracing monitoring, Start, ofcharging Control process countries European in six price same the for points charge 100,000 over to Access finder station Charging charging locations inGermany << Agenda 62

EnBW Factbook 2020 Concessions With investment, research state activities, research With investment, future major contribution in terms of securityand of supply and ourworkforce, dedicatedtechnologyhighly makewe a Secure andwin concessions ambition: Our connections gas > 150k connectionsm electricity> 2.5 concessions>gas 100 > 550 electricity concessions - ready energy supply, especially in rural regions. especiallysupply, readyenergy Local authorities and municipal utilities: Facts and figures and Facts utilities: municipal and authorities Local     South gridSouth region region grid Centre region grid North BW locationsNetze - of - the - art art Shareholdings in local services Baden electricity20%shareand in gas market volume bnrevenue €3 Approx. utilities municipal 40 and providers network 47 100shareholdings Approx. greatteamwork. importanceplace on close We business.regionalof our pillar are a key services our ownAlongside activities,our shareholdingsin local Long ambition: Our shareholdersand services. - term and durable partnership with municipal municipal with partnership durable and term - Württemberg Local sale and distributionsale and Local 1,400 1,400 B generations. smart infrastructureto deliverWork together for all ambition: Our › › › beyond. road portfolio of products and services serving over Innovative local services local Innovative Revenue 2019 approx. m €200 2019 approx. Revenue andservices local innovative infrastructure, sustainableenergy, reliable security Our onfocuses smartnetworkedportfolio mobility, solutions. municipal and districttailored councilsto deliver With a strong regionalfootprint, work we with closely Smart mobilitySmart municipalities across Baden Sustainable energy - Württemberg and and Württemberg Connected infrastructure Safety and reliabilityand Safety << Agenda 63

EnBW Factbook 2020 SENEC.Wallbox SENEC.Cloud SENEC.Cloud SENEC.Cloud Additional Additional SENEC.Cloud SENEC:Decentralised energy solutions for homeowners SENEC.Home products familiy heat to go : & friends SENEC.Solar › › › › › › › Fully integrated solutions for self for solutions integrated Fully Development andDevelopment production electricity of storage systems acquisition in 2018; revenue well above €100 m m in 2020 €100 above well revenue 2018; in acquisition the since higher times four than more Growth business: scaling Strongly and Australia) marketsItaly (Germany, major ingrowth Presence sold systems storage electricity Over 40,000 installers over 850certified through Distribution - in high Positioning › › › SENEC Electric mobility: solar mobility: Electric - own of Distribution - Cloud virtual electricity storage electricity virtual Cloud growth sweet spot of decentralisedof spot energysweet solutions growth brand PV systems and systems PV brand - - optimised supply with solar power (SENEC 360° (SENEC power solar with supply charging via via charging wallboxes wallbox << Agenda ) 64

EnBW Factbook 2020 Electricity and gas grids represent business core grids gas represent EnBW’s and Electricity › › › businessGrid has › gridthorough business graspthe of a EnBWhas › › network of service of network modern tested and technologies maintain extensive and an ofSecurity supply our highestis priority for morebusiness years 100 than its predecessor and EnBW companies have the beenin grid Stabilising Electricitygrids gas and are subjectto regulation High regulatory High competence/market competence certifies generally best results for grids EnBW Efficiency benchmark from most recentregulatory period risk/return stablewith mix flows cash centres stabilising effect on portfolio effect on – which is whyis which we employ << Agenda 65

EnBW Factbook 2020 Overall length 1 Distribution grid Transmission grid The slight decrease in the length of the distribution grid is mainly attributable to concession agreements not being renewed renewed being not agreements concession to attributable mainly is grid distribution the of length the in decrease slight The Extra Extra Low voltage 0.4 kV Medium voltage 30/20/10 kV voltage 30/20/10 Medium kV voltage 110 High - - high voltage high 220 kV voltage high 380 kV in km Electricity and gas grids gas and Electricity 1 1 144,100 89,600 42,700 1,000 2,200 8,600 2019 150,600 94,400 44,400 1,000 2,200 8,600 2018 Distribution grid Transportation grid Overall length High pressureHigh High pressureHigh Medium pressure Low pressure Low in km hwit municipalities some 24,600 9,100 2,300 8,600 4,600 2019 24,200 8,900 2,300 8,400 4,600 2018 << Agenda 66

EnBW Factbook 2020 DC expansion ACreinforcement grid 1 Source: 3 2 1 5 4 In cooperation with TenneT with cooperation In 4 GW4 corridor “SuedLink” corridor C in riverfor area Rhine Baden in Baden converter,contribution: EnBW in power lines in corridor A “Ultranet”2 GW corridor forBaden north for north east Baden BNetzA - Württemberg Investment up to 2025: around €6.5bn , EnBW, Net Development Plan (NEP) 2030 2. Draft 2019; www.netzausbau.de 2019; Draft 2. Development (NEP) Plan Net EnBW, 2030 , Expansion of transmission grid to ensure security of supply supply of security ensure to grid transmission of Expansion - Württemberg - Württemberg 158/+56 km 158/+56 Grid section 700 km 119 km 142 km 40 km 1 Scheduled completion 2022/2030 2026 2023 2024 2023 Amprion TransnetBW AC: Alternating AC: current 5 1 New constructionNew (DC) Grid reinforcement (AC) reinforcement Grid constructionNew (AC) 2 3 4 DC: Direct current Direct DC: TenneT 50 Hertz << Agenda 67

EnBW Factbook 2020 1 Belongs to to Belongs TransnetBW SuedLink Ultranet Osterath (40 km (40 340 km Emden Philippsburg 1 ) Belongs to Transnet BW Transnet to Belongs is the largest infrastructure project of the “Energiewende” the of infrastructure project largest the is TransnetBW Bruns (400 km (400 büttel 800 km SuedLink - 1 ) Wilster Großgartach Grafen (300 km (300 600 km Converter Transnet BW Converter - Rheinfeld 1 ) Offshore Onshore › › › › 6 GWfrom north to south Transmission grid: Distribution grid: Ensuring security reliability and Ensuring of supply on the grids supplyand electric cars expansionGrid upgrading to& integrate renewables Constructionof Ultranet converter year this begin will SuedLink – largestinfrastructure project << Agenda 68

EnBW Factbook 2020 Challengesactivities and in Baden- distribution grid the of Challenges “grid laboratories”. “grid inseveral partners with together grids smart distribution investigating is EnBW grids, distribution of the In addition expansion to peakscurrent storage, etc.) controllable gridlocal station, (e.g. technologies smart using grid expansion necessitate ... › › › Growingcarselectric prevalence of power wind for targets expansion High grid area the in photovoltaics of Widespread use in Baden grid infrastructure distribution develop theelectricitynecessary to bn ~€2.5of investment Through2025, to Württemberg ... electric cars whilst securing high quality high securing whilst cars electric in distribution supply and Investing grid integrate to renewables - Württemberg EnBWgrid laboratories grid innovations and 5 9 6 3 1 10 2 8 4 7 10 › › › others & Smart grid › › › E- 9 8 2 3 1 -7 mobility in the natural grid gas as hydrogen stored energies Renewable Hydrogen implementation gridof traffic light The gridas distributedplant; power Freiamt Interactive smart grid demonstrator Sonderbuch chargingatcontrolled home Remote -charging home Intelligent E E of electric mobilityelectric in apartment ofbuildings integration the for Approaches of electric mobility in rural areas rural in mobility electric of integration the for Approaches Mobility Chaussee -Mobility Chaussee -Mobility -Island Carré Tamm Öhringen Kusterdingen << Agenda 69

EnBW Factbook 2020 1 Total Thermal powerplantsThermal Block 2 of the the of 2 Block Renewable energies - Run Storage/pumped storagenatural(using flow water)of Onshore wind Offshore wind Other Lignite Hard coal Gas Gas Other Pumped storage (not using natural Pumped flowusing storage water) of (not Nuclear of - river 1 Philippsburg Generation portfolio 2019 Generation nuclear power plant is included in the generation portfolio in 2019 because it was not shut down until the evening evening the down until shut not was it because in 2019 portfolio generation the included in is plant nuclear power 13,849 in MW in 4,398 9,451 2,933 1,006 1,507 3,586 1,165 2019 826 834 225 875 347 545 Generation portfolio of 31 December 2019 share in % in 100 32 68 21 11 26 7 6 6 2 6 8 3 4 47,807 37,819 21,033 in GWh in 9,988 5,342 1,522 1,806 2,598 8,758 3,634 1,608 2019 959 359 188 Own generation << Agenda share in % in 100 21 79 44 11 18 2 3 4 1 5 8 0 3 70

EnBW Factbook 2020 EEG: Erneuerbare Energien Erneuerbare EEG: PGGM: PGGM: Feed Operation date Operation Shareholders Total capacity in MW in capacity Total Type of turbine Type of Technology Country Stichting in system -in Depositary   › › Offshore windim Germany: Portfolio and project Development In In Secured pipeline: 945MW capacity: Installed operation - PGGM Infrastructure Funds Funds Infrastructure PGGM Gesetz ( Gesetz stage Baltic 1 Baltic EEG 2009 Apr 2011 19 municipal utilities 19 ~50.3% EnBW;~49.7% 48.3 21 x Siemens SWT 2.3 SWT x Siemens 21 Offshore Germany renewable 900 MW energy act ) -93 Baltic 2 Baltic EEG Sep 2015 ~49.9% PGGM & ÄVWL & PGGM ~49.9% ~50.1% EnBW 288 80 x Siemens SWT 3.6 SWT x Siemens 80 Offshore Germany ÄVWL: ÄVWL: CPPIB: 2012 Canada Pension Plan Investment Board Plan Investment Pension Canada ÄrzteVersorgung Westfalen -120 - Lippe pipeline EEG 2014 Oct 2019 ~49.9%Inc./CPPIB Enbridge ~50.1% EnBW 497 71 x Siemens SWT 7.0 SWT x Siemens 71 Offshore Germany Hohe See -154 Albatros EEG 2014 Jan 2020 ~49.9%Inc./CPPIB Enbridge ~50.1% EnBW 112 16 x Siemens SWT 7.0 SWT x Siemens 16 Offshore Germany -154 << Agenda 71

EnBW Factbook 2020 AC: Alternating AC: current Feed Commissioning Shareholders capacity Total of turbineType Technology Country - in in tariff EnBW He Dreiht He EnBW OffshoreGermany: windin DC: Direct current Direct DC: withoutEEG funding 2025 100% EnBW 900 MW definedTo be Offshore Germany EEG: Erneuerbare Energien Erneuerbare EEG: - Gesetz ( Gesetz Windfarm renewable › › › › › › as one of the first zero subsidy projects in 2017 grid capacityDreihtsecured EnBWHe 900MW Start operation of expected for 2025 Final planned Investment (FID) for Decision 2023 Strong operational synergies wind EnBW farms neighbouring with See Hohe and connectionExport suppliedtransmission by system operator2025 by (TSO) costlyoffshore substation Agreement on 66 kV direct arrayconnectionof inner grid toconverter AC/DC eliminates financing and Currently supply of tendering development,under contracts,engineering, i.e. consenting energy under act ) development Albatros << Agenda 72

EnBW Factbook 2020 › › › BOEM: US West Coast West US wind project wind Offshore target60% byof 2030and 100%by 2045 generation energy California renewable USA in developed project wind commercial First (80%) North America EnBW Trident Winds (20%) and developer local between wind project offshore floating first forLLC Wind venture CastleJoint Bureau of Ocean Energy Management Energy Ocean of Bureau Sacramento San Francisco San Projectdevelopment activities OffshoreNorthTaiwan: windin America and California -scale floatingoffshore Los Angeles Los Nevada Las Vegas LLC: LimitedLLC: › › › USEast Coast along US East Coast increasedalong EastUS GW Coast20 by to over2035 windOfficial offshoredevelopment targets states of lease auctions wind participationby in offshorecontrol siteachieve to orderin establishedLLC Wind company EastProject 2018 since staffandwith in operationestablished local subsidiaryLocal North EnBW AmericaInc. legally New York New Liability Company South Hudson North Hudson South Fairways   BOEMlease areas   OCS: Outer Continental Continental Outer OCS: US Wind US Wind OCS Inc. Wind Statoil US OCS LLC Proposed call areas Proposed call OCS LLCOcean Wind North Fairways - A 0499 A Shelf - A 0498 A Taiwan, Formosa 3project location › › › › › - A 0512 A Plan for next auction round of at least 1 GW (~2022) (~2022) GW 1 next auctionatPlan least forround of 2030 and 2025 between online going projects up Allocation GWto 5 of in gridallocationseveral auctions for GW) 2 up to (total capacity of sites wind offshore EnBW’s partners JERA and Macquarie upof to 15GW by 2035 Taiwan long supply chainlocalconditions strong and a Combination of significant economies of scale with excellent wind keep on developing remaining project sites remaining project developing on keep majortargetto securethe parts auctioned of gridcapacity and to term energy policy target for offshore wind -term energy policy offshoretarget for – development of three three of development – Formosa III Formosa III << Agenda 73

EnBW Factbook 2020 September 2020 2,035 932 in MW in Portfoliopipeline and Onshore wind portfolio and pipeline and portfolio wind Onshore Forecast 2020 1,000 2,200 Portfolio projects under construction Secured pipelineand 3 2 1 Wind parks in operationwithin EnBWmajority Wind shareholding parks Germany in completed) is proportion (large concluded contracts land least At development) project to it in (low make proportion Germany land contracts for Negotiations as 1 of October 2020 in Germany Regional distribution2020 portfoliothe pipeline of and << Agenda 74

EnBW Factbook 2020 as of 30 September 2020 September 30 of as Numberlocations of Numberturbines of Installed totalpower Portfolio Portfolio and windfarms under construction under windfarms and Portfolio OnshoreGermany: wind in 62 306 679 MW EEG: Erneuerbare Energien Erneuerbare EEG: Country Technology Type of turbineType Total capacity in MW in capacity Total Numberturbines of Operation date Operation Feed - - Gesetz ( Gesetz in system Under construction renewable energy act Königsbronn Germany Onshore E138 3.5 1 EEG 2017 EEG Dec ) 2020 Schwienau Germany Onshore V150 12.6 3 EEG 2017 EEG Dec 2020 III Tantow Germany Onshore V136 10.8 3 EEG 2017 EEG Dec 2021 Huettersdorf Germany Onshore N131 6.6 2 Dec EEG 2017 EEG 2021 OberRamstadt Germany Onshore SWT130 8.4 2 Dec EEG 2017 EEG 2020 << Agenda 75

EnBW Factbook 2020 1 Country Technology Type of turbineType Temporary Temporary Total capacity in MW in capacity Total Numberturbines of Commissioning date Feed - in system regulations regulations In operation Onshore wind in Germany: Installed wind farms as of 30 September 2020 September 30 of Waldhausen Aalen Germany Onshore Vestas 16.5 5 Sep 2017 Sep older and 2014 EEG - V126 Alt Alt Germany Onshore Vestas 6 3 Dec older and 2014 EEG Zeschdorf 2009 V90 Benndorf Germany Onshore NM1000 NEG 5 5 Dec older and 2014 EEG EEG: Erneuerbare Energien Erneuerbare EEG: 2001 Micon Berghülen Germany Onshore E82- Enercon 6 3 Dec older and 2014 EEG 2012 E2 - Gesetz ( Gesetz renewable Angeltürn Boxberg Germany Onshore 115 Enercon E 12 4 Feb 2017 Feb Dec and 2014 EEG older 2016 energy - - (1/7) act ) Bobstadt Boxberg Germany Onshore 115 Enercon E 12 4 Mar Mar 2018 older and 2014 EEG - - Oberschüpf Boxberg Germany Onshore Enercon E 3.1 1 older and 2014 EEG July 2017 - - 101 Braunsbach Germany Onshore Enercon E 15 5 older and 2014 EEG Dec 2016 Nov 2016 - 115 Breitenbach Germany Onshore GE 2,75- GE 8.25 3 1x Jan 2018 Jan 1x 2x EEG 2017 EEG Dec << Agenda Berghülen 2017 120 1 76

EnBW Factbook 2020 as Country Technology Type of turbineType Total capacity in MW in capacity Total Numberturbines of Commissioning date Feed of 30 September 2020 September 30 of - in system In operation OnshoreGermany:wind windInstalledin farms Bremervörde Germany Onshore Nordex 9 6 older and 2014 EEG 2016 Nov S70 EEG: Erneuerbare Energien Erneuerbare EEG: Brettenfeld Germany Onshore Nordex 6.6 2 older and 2014 EEG 2017 Sep N131 Buchholz Germany Onshore Vestas 36 18 older and 2014 EEG Dec - 2009 Gesetz ( Gesetz V90 renewable Buchholz II Germany Onshore E82- Enercon 4 2 older and 2014 EEG Dec energy 2012 E2 act ) Buchholz III Germany Onshore Vestas 13.2 4 and 2014 EEG Sep 2017 Sep older V126 (2/7) Bühlertann Germany Onshore Vestas 13.2 4 older and 2014 EEG May 2017 May V126 Burgholz Germany Onshore Vestas 9.9 3 older and 2014 EEG Sep 2017 Sep V126 Christinendorf III Germany Onshore Vestas 6 3 older and 2014 EEG Dec 2011 V90 Dienstweiler Germany Onshore Nordex 4.8 2 older and 2014 EEG Mar Mar 2017 << Agenda Buchholz N117 77

EnBW Factbook 2020 as Country Technology Type of turbineType Total capacity in MW in capacity Total Numberturbines of Commissioning date Feed of 30 September 2020 September 30 of - in system In operation OnshoreGermany:wind windInstalledin farms Dittelsdorf Germany Onshore Vestas V90 Vestas 6 3 Jun 2010 Jun older and 2014 EEG III EEG: Erneuerbare Energien Erneuerbare EEG: Dünsbach Germany Onshore Vestas 9.9 3 Aug 2017 Aug older and 2014 EEG V126 Düsedau Germany Onshore NM72 NEG 7.5 5 Dec older and 2014 EEG - 2002 Gesetz ( Gesetz Micon renewable Eisennach II Germany Onshore Vestas 12 6 Dec older and 2014 EEG energy 2009 V90 act ) Elze Germany Onshore Enercon E53 Enercon 3.2 4 Dec and 2014 EEG older 2010 (3/7) Eppenrod Germany Onshore NW52 NEG 2.7 3 Dec older and 2014 EEG 2001 Micon Fichtenau Germany Onshore Vestas 9.9 3 Sep 2017 Sep older and 2014 EEG V126 Freckenfeld Germany Onshore Nordex 19.8 6 Dec older and 2014 EEG 2017 N131 Friedberg Germany Onshore Vestas 6 3 Dec older and 2014 EEG 2011 Eisenach II << Agenda V90 78

EnBW Factbook 2020 as Country Technology Type of turbineType Total capacity in MW in capacity Total Numberturbines of Commissioning date Feed of 30 September 2020 September 30 of - in system In operation OnshoreGermany:wind windInstalledin farms Fürth Germany Onshore Nordex 16.5 5 and 2014 EEG Jun 2018 Jun older N131 EEG: Erneuerbare Energien Erneuerbare EEG: Görike Germany Onshore Vestas 10 5 and 2014 EEG Dec older 2010 V90 Germany Onshore Vestas 2 1 Jul 2014 Jul and 2014 EEG Grevenbroich older - Gesetz ( Gesetz V90 GS renewable Wald Harthäuser Germany Onshore Enercon E 54 18 Sep 2017 Sep Dec 2015 Nov and 2014 EEG energy older 2015 act - 115 ) Hasel Germany Onshore Vestas 9.9 3 and 2014 EEG Nov 2017 Nov older V126 (4/7) weiler Haupers Germany Onshore Nordex 15 6 and 2014 EEG Dec older 2010 N117 - Homburg Germany Onshore Nordex 9.6 4 and 2014 EEG Mar Mar 2017 older N117 Ruppertshofen Ilshofen- Germany Onshore Enercon E 6.1 and 2014 EEG 2 Jun 2015 Jun 2014 Jul older - 101 Kemberg II Kemberg Germany Onshore Vestas and 2014 EEG 12 6 Jul 2014 Jul Haupersweiler older << Agenda V90 79

EnBW Factbook 2020 as Country Technology Type of turbineType Total capacity in MW in capacity Total Numberturbines of Feed Commissioning date of 30 September 2020 September 30 of - in system In operation OnshoreGermany:wind windInstalledin farms Germany Königheim Onshore Enercon E 6 and 2014 EEG 2 Sep 2017 Sep older - 115 EEG: Erneuerbare Energien Erneuerbare EEG: Germany Langenburg Onshore Vestas 33.45 10 and 2014 EEG Dec older 2017 V126 Germany Leddin Onshore Vestas and 2014 EEG 2 1 Dec - older 2009 Gesetz ( Gesetz V90 II renewable Müncheberg Germany Onshore and 2014 EEG Vestas 8 Nov 2006 Nov 4 energy older V90 act ) Neuruppin Germany Onshore and 2014 EEG Vestas 16 Feb 2014 Feb 8 older V90 (5/7) weiler Niederlinx Germany Onshore and 2014 EEG Nordex 4.8 Dec 2 older 2015 N117 - Nonnweiler Germany Onshore and 2014 EEG Nordex 4.8 Mar Mar 2017 2 older N117 Obhausen Germany Onshore and 2014 EEG Enercon E66 Enercon 36 2000- 20 older 2002 Oldendorf Germany Onshore and 2014 EEG Enercon E53 Enercon 12 Dec 15 older 2010 Langenburg << Agenda 80

EnBW Factbook 2020 as Type of turbineType Technology Country Commissioning date Numberturbines of MW in capacity Total Feed of 30 September 2020 September 30 of - in system In operation OnshoreGermany:wind windInstalledin farms Nordex Onshore Germany cappeln Oster and 2014 EEG Nov 2016 Nov 12 18 older - S70 Onshore Germany Vestas V80 Vestas Prötzel and 2014 EEG 2008 2006 9 18 EEG: Erneuerbare Energien Erneuerbare EEG: older Onshore Germany Enercon E115 Enercon Prötzel EEG 2017 EEG May 2020 May 3 9 I - Gesetz ( Gesetz renewable Onshore Germany Vestas Puschwitz and 2014 EEG Dec 10 20 older 2017 V80 energy act Onshore Germany Süd Rosenberg N131 Nordex and 2014 EEG 2 6.6 Sep 2017 Sep ) older Onshore Germany Rositz Nordex and 2014 EEG 9 13.5 Nov 2016 Nov older (6/7) S70 Onshore Germany Rot am See am Rot and 2014 EEG Vestas 4 13.2 Jun 2019 Jun 2016 Sep older V126 Onshore Germany lingen Schnitt and 2014 EEG 1 1 Dec DeWind older 2002 - D6 Onshore Germany Schopfloch and 2014 EEG 1 2 Dec E82 Enercon older 2012 Onshore Germany burg II burg Schulen- and 2014 EEG 3 6 Dec Vestas Rot am See << Agenda older 2010 V90 81

EnBW Factbook 2020 as Feed Commissioning date Numberturbines of MW in capacity Total of turbineType Technology Country of 30 September 2020 September 30 of - in system In operation OnshoreGermany:wind windInstalledin farms and 2014 EEG Schwienau Dec 5 10 Vestas Onshore Germany older 2009 V80 II and 2014 EEG Jul 2014 Jul Söllenthin 3 6 Vestas Onshore Germany EEG: Erneuerbare Energien Erneuerbare EEG: older V90 and 2014 EEG Dec Webenheim 3 6.15 MM92 Repower Onshore Germany older 2016 - Gesetz ( Gesetz renewable and 2014 EEG Dec Westerheim I 1 0.6 NM600 NEG Onshore Germany older 1998 Micon energy act and 2014 EEG 2004 Nov 2 4 V80 Vestas Onshore Germany Willich ) older and 2014 EEG Dec 3 9.9 Nordex Onshore Germany Winterbach older 2017 (7/7) N131 and 2014 EEG 2016 Nov 8 14.4 E66 Enercon Onshore Germany Zernitz older Winterbach << Agenda 82

EnBW Factbook 2020 as Numberlocations of Numberturbines of InstalledMW totalpower in of 30 September 2020 September 30 Portfolio Portfolio Portfolio and installed wind farms farms wind installed and Portfolio OnshoreFrance: wind in 11 66 141 Location Technology Type of turbineType Total capacity in MW in capacity Total Numberturbines of Commissioning date Remuneration (1/2) In operation Pas (62) Audincthun Onshore Enercon E92 Enercon 14.1 6 Jul 2019 Jul FiP - de - Calais Somme (80) Somme Belleuse Onshore Vestas V100 Vestas 11.0 5 Jan 2020 Jan FiP Herault Bernagues Onshore Enercon E70 Enercon 16.1 7 Dec FiT 2016 (34) Herault Cap Onshore Enercon E70 Enercon 16.1 7 Jan 2017 Jan FiT Espigne (34) << Agenda 83

EnBW Factbook 2020 as FiP Commissioning date Numberturbines of MW in capacity Total of turbineType Technology Location Remuneration of 30 September 2020 September 30 of : Feed : - in - Premium (Contract for Difference) post Decree of 13 December 2016 December 13 of Decree post Difference) for (Contract Premium In operation OnshoreInstalledwindfarmsFrance: wind in Aug 2006 Aug 3 3.9 62 Eco Alstom Onshore Tarn (81) Cap FiT Redounde Oct 4 12.0 110 Eco Alstom Onshore (80) Somme Champs FiT 2014 Perdus 6 13.8 E70 Enercon Onshore Tarn (81) La La FiT 2012 Jan Bessiere 9 11.7 62 Eco Alstom Onshore Tarn (81) Puech FiT 2007 Jun de de FiT AO CRE 1 : First wind tender (Dec. 17 17 (Dec. tender wind First : 1 CRE AO Cambert : Feed : - in - Tarif prior to Decree of 13 December 2016 December 13 of Decree to prior Tarif 7 16.1 E70 Enercon Onshore Tarn (81) Puech FiT 2011 Nov (2/2) de de l'Homme - Nov. 20) 20) Nov. 9 19.8 V100 Vestas Onshore Maritime (17) Charente Saint Félix FiP Mar 2020 / AO CRE1 / AO - 3 6.0 Enercon Onshore Haute St FiT Dec . Jean . 2008 - Loire (43) Loire - E70 Lachalm II << Agenda 84

EnBW Factbook 2020 as Numberlocations of Numberturbines of InstalledMW totalpower in of 30 September 2020 September 30 of Portfolio Portfolio and wind farm under construction under farm wind and Portfolio OnshoreSweden: wind in 7 52 107.5 Feed date Operation Numberturbines of MW in capacity Total of turbineType Technology Country - in system Under construction ( Market 2021 Jul 3 12.6 E138 Enercon Onshore Sweden Råmmarehemmet Elcertificates based ) << Agenda 85

EnBW Factbook 2020 as Feed Commissioning date Numberturbines of Total capacity in MW in capacity Total Type of turbineType Technology Country of 30 September 2020 September 30 of - in system In operation OnshoreSweden: windwind inInstalled farms Market Market May 2009 May 16 32 V90 Vestas Onshore Sweden ( Bliekevare Elcertificates based ) Feb 2011 Feb 5 11.5 SWT101 Siemens Onshore Sweden ( Market Brahehus Elcertificates based ) Mar Mar 2011 5 10 V90 Vestas Onshore Sweden ( Market Granberget Elcertificates based ) Feb 2009 Feb 6 12 V90 Vestas Onshore Sweden Hedbodberget ( Market Elcertificates based ) Sep 2009 Sep 4 10 N90 Nordex Onshore Sweden Kulltorp ( Market Elcertificates based ) Dec 8 16 V90 Vestas Onshore Sweden Röbergsfjället ( Market Elcertificates 2007 based ) Feb 2009 Feb 8 16 V90 Vestas Onshore Sweden Säliträdberget ( Market Elcertificates based << Agenda Bliekevare ) 86

EnBW Factbook 2020 as of 30 September 2020 September 30 of In operation OnshorePortfolioRepublic:Czech wind in Country Type of turbineType Technology Feed Commissioning date Numberlocations of Numberturbines of MW in capacity Total - in system Czech Rep Green Bonus V Onshore 3 Jul 3 Jul 1 2 4 ESTAS 2009 V90 ublic << Agenda 87

EnBW Factbook 2020 September 2020 189 840 › in MWp in Portfoliopipeline and developing projects feed larger a on without scale projects on system, EEG focusesBesides the within EnBW Photovoltaics portfolio and pipeline portfolio and Photovoltaics Forecast 2020 395 800 Portfolio projects under construction Secured pipelineand - in tariffin as 1 of October 2020 Germany Regional distribution2020 portfoliothe pipeline of and in 3 2 1 Solar parks in operationinEnBWmajority with shareholdingparksSolar completed) are proportion (large concluded contracts land least At development) project to it (low make proportion land contracts for Negotiations << Agenda 88

EnBW Factbook 2020 as Operation date Operation in capacity Total Feed Technology Country Numbersolar of parks Installed totalpower of 30 September 2020 September 30 of MWp - in system Installed I n operation Portfolio, installed and under construction under and installed Portfolio, Photovoltaics Nov 2019 Nov EEG 2017 EEG 5.8 Solar Germany Birkenfeld > 50 103 Oct EEG 2017 EEG 7.5 Solar Germany Inzighofen MWp 2019 in Germany: Germany: in EEG: Erneuerbare Energien Erneuerbare EEG: EEG 2017 EEG 6.9 Solar Oct Germany Lindendorf 2019 Feed date Operation in capacity Total Technology Country - Gesetz ( Gesetz MWp - in system renewable Under construction energy EEG 2017 EEG Oct 8.8 Solar Germany Sophienhof I 2020 act ) EEG 2017 EEG Nov 2020 Nov 3.2 Solar Germany Welgesheim EEG 2017 EEG Dec 6.6 Solar Germany Ulrichshof 2020 ( 2017 EEG Mar Mar 2021 28 Solar Germany Maßbach partly ) without funding Dec 187 Solar Germany Willmersdorf Weesow 2020 EEG EEG - funding without Dec 152 Solar Germany Gottesgabe 2021 EEG EEG funding without 151 Solar Germany Alttrebbin Dec << Agenda 2021 EEG EEG 89

EnBW Factbook 2020 › › as of 30 September 2020 September 30 of First largesolar Largest solar projectGermany in Under construction Solarpark Solarpark Photovoltaics - scale project in subsidies without Germany Weesow in Germany: Germany: in Willmersdorf -Willmersdorf under project Foreign construction Annual CO production Annual Capacity Building Building Weesow Duration Duration Commissioning energy -Willmersdorf site of 2 reduction operation kWh/a 185 Mio. 187 164 ha of northeast 26 km 2020 End t/a 129.000 40 << Agenda Berlin years MWp of 90

EnBW Factbook 2020 as Remuneration Commissioning MWp in capacity Total Technology Location of 30 September 2020 September 30 of Numbersolar of parks Installed totalpower I n operation Portfolio and installed solar parks solar installed Portfolio and Photovoltaics AO CRE4 Sep 2019 Sep 3.7 Rooftop Gard (30) Gard Beaucaire 10 60 MW AO CREAO 1 Aug 2015 Aug 7.2 mounted Ground Var (83) Var Le Val Le in France: AO CRE 4 : Fourth ground solar tender (Feb 2017 2017 (Feb tender solar ground Fourth : 4 CRE AO AO CREAO 4 Nov 2019 Nov 2.0 1 x 1 x 3 x Vaucluse (84) Sorge Isle Sunshade Rooftop - sur - la - AO CREAO 1 Aug 2016 Aug 6.2 mounted Ground Bouches Rhône (13) Rhône Megasol - du - FiT Apr 2012 Apr 4.8 Rooftop Gard (30) Gard Solar Saint Laurent – Nov 2020) Nov AO CREAO 2 Jun 2016 Jun 2.8 Rooftop Gard (30) Gard Saint Mamet Saint AO CREAO 4 May 2020 May 3.1 mounted Ground Ariège (09) Ariège la Tour la St Quentin FiT May 2011 May 8.1 mounted Ground Lot (46) Lot Sycala AO CREAO 4 Sep 2020 Sep 10 Sunshade Essone Ouest TEA Fleury (91) FiT Jan 2015 Jan 7.1 mounted Ground Hérault (34) Hérault Rouges I Rouges Terres AO CREAO 2 Jan 2017 Jan 5.6 mounted Ground Hérault (34) Hérault Rouges II Rouges Terres << Agenda 91

EnBW Factbook 2020 as Operation date Operation date Operation Total capacity in in capacity Total in capacity Total Numbersolar of parks Installed totalpower of 30 September 2020 September 30 of In operation Portfolio and installed solar parks solar installed Portfolio and Photovoltaics MWp MWp 16 26 MW 2009 2009/2010 3.168 4.848 FVE FVE FVE Ořechovská Dačice in Czech Republic: Republic: Czech in 2010 2010 3.998 1.087 FVE FVE FVE Pozorka Hořovice 2010 2010 4.596 0.028 FVE FVE FVE Pozořice Hrouda 2010 2010 0.138 0.173 FVE FVE FVE Pražačka Jinonice (I - III) 2009 2009 3.168 1.109 FVE FVE FVE FVE Kondrac Rajhradská 2010 2010 0.204 0.060 FVE Lhotka Lhotka FVE FVE Sever Sever FVE 2009/2010 2009 2.154 0.941 FVE FVE FVE FVE Mikulov Světlík << Agenda 92

EnBW Factbook 2020 as Ifffezheim EnAlpin Iller power Glatt, Jagst, Kocher, Argen Neckar,Murg, Nagold, Donau, Rhine of 31 December power in MW in Run- plants Hydropower plants plants 2019 of - river Enz, 277 151 527 51 Forbach Vorarlberger Rudolf Glems Schluchsee - Fettweis in MW in Pumped storage power Illwerke - Werk plants Forbach << Agenda 1,049 870 90 43 93

EnBW Factbook 2020 2 1 Walheim Stuttgart Walsum Rostock Mannheim Altbach Heilbronn Lippendorf Düsseldorf Karlsruhe Continued temporary operation of 9 power plant units due to system relevance: HLB 5/6 , MAR DT DT MAR III, , II, GT GT III, WA MAR MAR relevance: HLB 5/6 due system units power to plant 9 of Continued operation temporary 2020 January 1 of as plants, power Major /Deizisau in MW in Conventional Thermal powerThermal plants¹ 1,351 136 209 250 259 546 589 778 875 941 Karlsruhe Cattenom Neckarwestheim Altbach Karlsruhe Walheim Heilbronn Marbach in MW in reserve power Grid plants² MW in Nuclear (France) L1 /2, RDK4s and and ALT RDK4s /2, HKW1 Altbach << Agenda 1,096 433 353 244 250 426 94

EnBW Factbook 2020 in South Germany necessaryin SouthGermany Additional capacity for grid stability › › › › steps nextTimeline and › › › › turbine power plant at existing EnBW EnBW existing at plant power turbine gas MW 300 of installation and design for contract of Award 2019: August “Energiewende”. theof context the in stability grid maintain to Germany southern in capacity generation power GW additional 1.2 approved agency federal regulation the 2017, In Detail engineering finalised, fabrication long of fabrication finalised, engineering Detail received permit Construction Commercial operationplanned forOctober 2022 2022 mid Commissioning in2021 equipment rotating the of Delivery mid 2020 started site on works Construction started partly grid stability purposes in South Germany South in purposes stability grid New built gas turbine power plant for for plant power turbine gas -built Marbach - a.N lead items instructed and and instructed items lead . site. . Artistic impression of the gas turbine power plant at the site the at impression power plant turbinegas Artisticof the Marbach << Agenda a.N 95 .

EnBW Factbook 2020 PEGAS: Pan PEGAS: agreements purchase Power PPAs: NCG » » » » » TTF » » » » › 2,000,000+ trades per yeartrades per 2,000,000+ 200+ employees 2019: trading volumes, Annual MW+ 3,900 Directmarketing renewablesof 2020: coal, fuels electricity, emissions, gas, for customersgroup:and EnBW Market access to wholesale commodity markets : Title transfer facility Title transfer: : NetConnect 600 90 million million 90 400 million t EUAs tcoal60 million 3400 - TWh European Gas Cooperation Cooperation Gas European EnBW’s trading activities TWh Germany Germany electricity markets to manage price and volumeprice and markets risks to manage Central accesswholesale to activities: EnBW’s trading natural gas bbl oil EPEX: European Power Exchange Exchange Power European EPEX: LNG: Liquid natural gas ICE: Intercontinental Exchange Exchange Intercontinental ICE: gas calorific low gas, calorific High (H/L): › › › › › › › › › and EPEX Spot (Paris), as well as on OTC on as well markets as (Paris), Spot counterparties EPEX 150+ and wheretrade with we Activeon major OTC accessfor TTF,gas Gaspool OTC accessfor Support forelectricity their and gascustomers Procurement and risk management for sales EnBW companies storageand supply contracts, also for thirdparties flexibleand gas of Commercial optimisation – – for electricity activities Origination – – – – in Renewables: Activities fromyears+10 intradayto electricity of and selling Buying Expansion of LNG trading LNG activities of Expansion contractsby conventional assetsgeneration of Substitution Directmarketing renewables of Guarantees origin of expansion International of portfolio PPAs electricity electricity OTC: Over OTC: EEX AT VTP : European Energy Exchange Exchange Energy European : toNL, FR, CH, AT,CZ, IT, HU, BE and commodity exchanges including EEX (Leipzig), ICE (London), PEGAS PEGAS (Paris) (London), ICE (Leipzig), commodity exchangesand EEX including : Austria Virtual Austria Trading: Point - the and gas on wholesalemarkets on and gas - (H/L), NCG (H/L), ATVTP, IT, FR, BE counter counter and gas including LNG including gas and electricity portfolios including including portfolios HU: Hungary HU: Republic Czech CZ: SwitzerlandCH: NetherlandsNL: BE: Belgium BE: Italy IT: Austria AT: France FR: << Agenda 96

EnBW Factbook 2020 Business segments Corporate sustainability Strategy Market environment EnBWa glance at ……………………………………………………….…………………………………………………………………………..… EnBW’s EnBW’s …………………..………………………………………………………………………………..…….…… …………………………………………………………………………………………………..… ……..……………….…………………………………………………………………………..… main ………………………………………………………………………………………..… s hareholdings 56 45 33 05 02 Service Corporate governance Capital markets Keynon- and financials EnBW’s ShareholdingsMain EnBW’s main › › › › › …………………………………………..……………………………………………………………………………………..…..… Borusan EnBW EnBW Borusan AG VNG Stadtwerke Group Düsseldorf Pražská Energiedienst HoldingAG s ………….………………………….…………………………………………………………………..…..… hareholdings energetika ………………………………………………………………………………………..…..… financials Enerji ……………………..………………..…………………………...…….…… , a. s. yatırımları ……..……………….……………………………..…….… ve Üretim A.S. 136 132 120 109 97 97

EnBW Factbook 2020 1 ² Not fully consolidated, accounted for using the equity method. method. equity the using for accounted consolidated, fully Not ² Directly and indirectly shares. held indirectly and Directly › › Laufenburg AG Holding Energiedienst StadtwerkeDüsseldorf Group Düsseldorf EnBW‘s EnBW‘s main shareholdings Switzerland Württem Baden berg Germany - Further information: published at is December 2019 31 of as statements financial consolidated of The set full ures”. los disc “Additional (36) under statements financial consolidated the to notes the in found be can shareholdings of list The full - www.enbw.com/shareholdings Czech Rep. Czech Turkey . Turkey › Leipzig AG VNG › Prague Pražská energetika www.enbw.com/report2019 a.s. 1 Istanbul yatırımları Borusan EnBW ve - downloads Üretim Enerji A.S. 2 << Agenda 98

EnBW Factbook 2020 » Profile 987 Employees 1908 Established » generation in The with Energiedienst energy focused electricity Energiedienst Holding AG Holding Energiedienst Germany Energiedienst . electricity on solutions, and infrastructure growth and generates gas Switzerland . Group with The system group’s three . is green one - relevant main to of electricity own be the strategic grid carbon first infrastructure companies integrated from pillars neutral Laufenburg Location hydropower : . energy customer supply Energiedienst and , Switzerland companies customers renewable and - focused sells is Current key topics and projects and topics key Current › Digital roadmap › Power › Concessions › E- › Photovoltaics › Group transformation mobility Focus on eight growth areas to successfullyshape change Digitization as a key component in strategy implementation at project Flagship concessionselectricityApplicationsare multiple underwayfor e and infrastructure station charging of Expansion Germany and Switzerland in products additional and equipment solar of Sale Switzerland - to - gas Wyhlen hydropower plant to produce hydrogen as as fuel hydrogen to plant produce hydropower - car sharing in southern Baden and in in and Baden southern in car sharing << Agenda 99

EnBW Factbook 2020 Three businessThree segments Active inSwiss markets & German as of 31 December 2019 December 31 of as › › › › 987 employees customers and gas 270,000 electricity Around 8,100 Approximately - run (primarily renewables in capacity installed MW 652 Renewable generation Systemically relevant Customer energy solutions infrastructure infrastructure Energiedienst Holding AG AG Holding Energiedienst - oriented of - river power plants) river power km low- voltage grid voltage Sales power and gas and power Sales Distribution power and gas and power Distribution Hydropower plants Solid business model › › at a glance at new businesses new Clear strategic focus on developing in traditional businesses Stable flows cash Photovoltaic (ground Network Heat and energyand solutions Heat Photovoltaic - mounted systems) - related services Key figures › › › › › › Current liabilities: €198.0 m €198.0 liabilities: Current - Non m €346.8 assets: Current m €77.9 (FFO): operationsfrom Funds m €91.0 EBITDA: Adjusted - Non Electric mobility current liabilities: €538.8 m €538.8 liabilities: current current assets: €1,582.1 m €1,582.1 assets: current Services in infrastructureServices in sector Power - to - X - technology Land development << Agenda 100

EnBW Factbook 2020 OEM: Original Equipment Manufacturer Equipment Original OEM: » » Profile 1,547 Employees 1897 Established » » Electricity Republic Electricity Energy Renewable Pražská infrastructure ; focus distribution and generation on gas energetika B 2 supplies C services in segment Prague to for in all B Prague 2 C, customer B , a. s. , a. 2 G and Prague, CZ Prague, Location B segments 2 B in the Czech Current key topics and projects and topics key Current › › › Energy services › › Smart city › › › Fibre › E- › › › Mobility i.e. chargers, commodity, billing, cars (with partner) (with cars billing, commodity, chargers, i.e. of e Provision integrated solutions charging private B2C and B2B network charging public of Expansion Installation of roof Installation e internet, speed high lighting, (smart indistrict Praguea smart of pilot Implementation stations to distribution smart upgrade operation; of network Digitization partners(FTTH) infrastructure retailfibre of telco for Provision Backbone for smart grid applications andfibreof electricity grid developmentSynergetic Planning and development of smart buildings smart of development and Planning Servicing of local distributionServicingnetworkslocal of and air of systems ventilation conditioning heating, Installation - top solar systems incl.storage solar systemstop - mobility solutions (for OEMs, B2B, B2C),B2B, (for OEMs, solutions mobility - mobility charging) mobility << Agenda 101

EnBW Factbook 2020 Three businessThree segments Number 3 utility in the CzechRep. a s of 31 December 2019 December 31 of s › › › › › › Employees Prague ( Prague of outside brand)growth and Prague (PRE in retention customer on focus gas; Activities/products: Strong inPrague roots Strong employees 1,547 structure shareholder Stable 6,296 Sales GWh Electricity Yello Pražská : electricity distributed electricity 697 brand) Sale of electricity and electricity of Sale energetika Generation , a. s. , a. › › Employees supply and system stability system and supply of security guaranteeing services; of provision grid electricity; Activities/products: Balanced risk- › › Focus on Grids at aglance (~30% EBITDA) supply gas and Electricity EBITDA) (~60% Distribution : 576 Distribution of of Distribution Procurement return profile return - related › › e- consultancy; efficiency energy (photovoltaics); plants power andandenergy operation management; renewableof construction Activities/products: Activities/products: Employees mobility services; operation of local distribution networks distribution local of operation services; mobility Renewable EnergiesEnergy / Services : 274 Distribution Key figures › › › › › › Current liabilities: €193.5 m €193.5 liabilities: Current - Non m €211.4 assets: Current - Non m €160.8 (FFO): operationsfrom Funds m €192.9 EBITDA: Adjusted Energy current liabilities: €357.7 m €357.7 liabilities: current m €1,212.4 assets: current - related services; project development services;related Sales << Agenda 102

EnBW Factbook 2020 » Profile 3,395 Employees 1866 20 September Established » in the fields of energy, mobility and buildings and mobility energy, of fields in the Demand heating district and water gas, Electricity, utility: energy City Stadtwerke Düsseldorf Group - driven development of interconnectedofurban infrastructure development driven Düsseldorf, Germany Location New businessNew areas Optimizationconventional of business › › › › › › › The charging Düsseldorf sharing projects the Stadtwerke CleverShuttle CleverShuttle product, mobility new A There are only electricThere are cars onlyin the fleet comfortablytakes customers from door to door There are firm plans for further improving and furtherfor improvingfirm plansare There reducing emissions aplantand districtmakes majorDüsseldorf the heatingcontribution system to Interactionthe between gas and power plantsteam "Fortuna", the waste incineration 2035 by neutrality inofof climate itsthe goalDüsseldorf City supports Stadtwerke Düsseldorf mobility cooperation . "eddy", infrastructure Because are transformation valuable (Berlin). It is an environmentally friendly friendly an environmentally is It (Berlin). is a cooperationandof StadtwerkeDüsseldorf Düsseldorf the making with ridesharing in CleverShuttle insights for CleverShuttle many addition e - – mobility such other platform for to gives as contributions other Düsseldorf, started in 2019 in started Düsseldorf, CleverShuttle – the charged with green electricitychargedwith green "route Stadtwerke e - mobility scooter decarbonising D" or to , RidePooling the heat system service, that service, << Agenda 103

EnBW Factbook 2020 Five businessFive segments Key figures as of 31 December 2019 December 31 of as › › Funds from operations (FFO): €121.2 m €121.2 (FFO): operationsfrom Funds m €165.9 EBITDA: Adjusted District heating Electricity Waste Water Gas Stadtwerke Düsseldorf Group at a a at Group Düsseldorf Stadtwerke Generation Procurement Generation Generation Thermal waste treatment waste Thermal › › - Non Current assets: €488.1 m €488.1 assets: Current Procurement current assets: €1,406.5 m €1,406.5 assets: current Trading glance Distribution Distribution Trading Distribution › › - Non Current liabilities: €377.8 m €377.8 liabilities: Current - Non Distribution thermal waste treatment waste thermal current liabilities: €762.6 m €762.6 liabilities: current Sales Sales Sales Sales << Agenda 104

EnBW Factbook 2020 » » Profile 1,155 Employees 1958 Established line new industry On VNG energy in Storage business VNG AG VNG gas the with fields is and basis a and market with the activities group of infrastructure, Biogas “VNG of business a these . broad, of Headquartered 2030+” . in over core four future such . strategy 20 competencies, and business as - companies oriented green more in areas Leipzig, than gases portfolio active VNG : 60 and Trading years is the Czech Republic Czech Poland Austria Italy Germany VNG Group Locations of in digital increasingly products the Group of & experience European infrastructures Sales, organises and focusing Transport, services energy in 1 2 2 2 14 the on its in › › Current key topics and projects and topics key Current › Innovationsstart and › › › Digital infrastructure › Biogas › Transport › › › Storage › Sales & Trading › › › Development of business cases for casestradingof business supply, andof hydrogen sale Development growth inandofmoderate midstream retail excellence business developmentFocus on Optimisationof market inposition terms of procurement andsales Strategic partnership with accelerators e.g. and maintenance management construction, planning, fibre opticof providerindependent a leadingBecoming innetworkfiberEast certainin of a optic GermanyEstablishment regions Becoming a leadingindependentproviderof fibre optic backbone infrastructure concepts beyond the current subsidy scheme Acquisition,of integrationdevelopmentas the andplantsoptimisationas well of biogas Continuousoptimisationin framework the regulatory ( of businesscases for Development undergroundstorage for hydrogen Integrationof and scaling up for business of servicethird parties leadership innovation and cost extending and ensuring on Focus Focused investments in start investmentsFocused Focus on a sustainable,green use of the gas infrastructure with renewablegases Lean internal entrepreneur/innovation entrepreneur/innovation internal Lean - up - activities - ups with a strategic fit to VNG to fit strategic a with ups process SpinLab e.g. network services in the field of efficiency improvements) << Agenda 105

EnBW Factbook 2020 as of 31 December 2019 December 31 of as Key figures › › › › › › › › 2.2 bn m bn 2.2 (Bad facilities storage underground Four Third (B2C) consumers and gas Power send gas kWh bn 516 Europe and Germany in divisions Retail and Wholesale Funds from operations (FFO): €120.1 m €120.1 (FFO): operationsfrom Funds m €184.9 EBITDA: Adjusted › , Bernburg, Etzel,, Lauchstädt - Germany: 150,000 Germany: largest storage facility operator in Germany in operator facility storage largest Storage & Sales Trading 3 VNG AG storage capacity storage - out at a glance at a | Austria: 41,000 Austria: | Jemgum | Poland: 42,000 Poland: | ) › › Current assets: €4,365.2 m €4,365.2 assets: Current - Non current assets: €2,914.7 m €2,914.7 assets: current › › › › › › responsible for Germany’s secondfor - responsible 450 network interconnection points interconnection 450 network - high km 7,000 operator, ONTRAS an As transmission independent 95 MW of installed rated thermal thermal input rated of installed 95 MW and Germany in eastern northern 27 biogas facilities operatorsGermany in largest systemthe of One Transportation Biogas pressure gas pipeline system pipeline gas pressure › › Current liabilities: €4,382.4 m €4,382.4 liabilities: Current - Non current liabilities: €1,135.0 m €1,135.0 liabilities: current longest gas t gas longest ransportation Gastransport system GmbH is GmbH << Agenda 106

EnBW Factbook 2020 » Profile ~150 Employees 2009 September Established Borusan leading Borusan society investments and energy EnBW nature to operations, generation Enerji EnBW EnBW are of continues utmost in company all Enerji importance. of its its in activities activities, the wind yatırımları Istanbul, Turkey Istanbul, Location with efficiency energy a vision segment and of respect being . ve From to a Üretim A.S. << Agenda 107

EnBW Factbook 2020 1 Figures not consolidated, as of 31 December 2019 December 31 of as consolidated, not Figures Activities  Koru  Saros  Feslegen   Kiyiköy   Balabanli 55.2 146 40 28 72 61.4 36.3 MW MW MW MW MW MW MW in Turkey  Fuatres 33.9 MW  Düzce 1  Makif : 30 49.5 Borusan MW MW  Bandirma  Harmanlik  Kaktüs  Buket 91 55.2 49.5 10.5  Hatmi  Sarmasik 6.6 MW 49.5 MW MW MW  Pamuklu EnBW energy portfolio and projects and portfolio energy EnBW MW 2.2 MW MW  Mut 55.2  Dayicik MW 6.6 MW  Pelit 80 MW  Bögürtlen 30 MW  Kartaldagi 65.6  Sandal 50 MW MW  Yedigöl 50.3 MW Aksu       Development Construction Operating Solar Hydro Wind << Agenda 432 218 505 108 MW MW MW

EnBW Factbook 2020 Business segments Corporate sustainability Strategy Market environment EnBWa glance at ……………………………………………………….…………………………………………………………………………..… Key …………………..………………………………………………………………………………..…….…… financials …………………………………………………………………………………………………..… ……..……………….…………………………………………………………………………..… ………………………………………………………………………………………..… and non and -financials 56 45 33 05 02 Service Corporate governance Capital markets Key FinancialsNon and EnBW’smain shareholdings Keynon and financials › › › › …………………………………………..……………………………………………………………………………………..…..… F Half year 2020 Fiscalyear 2019 Five inance - year summary ………….………………………….…………………………………………………………………..…..… strategic dimensions othergoal and ………………………………………………………………………………………..…..… - financials - financials ……………………..………………..…………………………...…….…… ……..……………….……………………………..…….… 136 132 120 109 97 109

EnBW Factbook 2020 EnBW Group EnBW 2 1 In relation to the profit / loss attributable to the shareholders of EnBW AG. EnBW of shareholders the to attributable loss / profit the to In relation The Balance sheet Balance Cash flow Profitability Earnings Energy sales Equity Net debt EBITDA Adjusted Net financialNet debt profit/loss net Group Adjusted Internal financing capabilityInternal Retainedflow cash Return on External revenue Earnings per share Earnings per Dividend per share per Dividend Value added Gas Electricity figures 1 for capital the Multi previous 1 employed year -year 1 ( have ROCE) 2 been overview restated . (1/2) bn bn kWh kWh € m € m € m € m € m € m € m € m % % € € 18,765 12,852 7,445 2,433 6,022 1,241 2019 82.6 2.71 0.70 787 297 153 5.2 0 20,815 6,273 9,586 2,158 3,738 2018 92.2 1.23 0.65 438 999 329 137 6.5 32 21,974 111.9 5,863 8,418 2,133 2,918 3,050 2017 7.58 0.50 793 250 152 122 7.3 19,368 10,046 3,216 1,939 3,654 - 2016 72.1 6.64 0.00 N/A 950 139 124 115 7.8 << Agenda 21,167 347.8 5,123 6,736 2,110 3,329 1,718 2015 0.58 0.55 N/A 135 354 115 9.5 110

EnBW Factbook 2020 EnBW Group EnBW 1 The The Generation & Trading segmentTrading Generation & Renewable Energiessegment Sales segment Grids segment Electricity sales EBITDA Adjusted External revenue Electricity sales External revenue sales Gas External revenue sales Gas Electricity sales Adjusted EBITDA Adjusted EBITDA Adjusted External revenue EBITDA Adjusted figures for 1 1 the Multi previous 1 1 1 1 1 1 year -year have been overview restated . (2/2) bn bn bn bn bn kWh kWh kWh kWh kWh € m € m € m € m € m € m € m € m 6,970 1,311 3,460 7,679 2019 483 653 223 112 384 294 74 37 3 9,768 1,177 3,215 7,348 2018 298 478 260 431 268 97 68 38 2 6,631 1,046 7,472 7,354 2017 332 508 193 377 330 80 57 40 2 4,434 1,004 6,644 7,771 2016 295 511 337 250 85 68 54 44 3 << Agenda 5,300 6,351 9,061 2015 287 447 747 777 255 53 65 82 48 111 3

EnBW Factbook 2020 2 1 TOP TOP TOP TOP TOP TOP TOP In The Earnings Financial and strategic performance indicators strategic and Financial Share Group Adjusted Group Adjusted Group relation Internal Share Share Share Return On CapitalReturn On Share EBIDA Adjusted figures of net adjusted per per to of of of of profit for financing the adjusted adjusted adjusted adjusted share the Fiscal year 2019: Financial key performance key figures2019: Financial year Fiscal profit 2 net previous EBITDA EBITDA from profit / EBITDA EBITDA EBITDA EBITDA EBITDA EBITDA capability Employed loss Group 2 year attributable accounted accounted accounted accounted accounted have 1 net (ROCE) been profit to for restated the for for for for by in in € shareholders Other/Consolidation by by by by 2 Generation and Trading Generation and Renewable Grids Sales . 1 of EnBW Energies AG 1 € m / % m € € m / % m € / % m € € m / % m € / % m € € m € m € m % % € 1,311.2 / 53.9 1,311.2 482.8 / 19.8 482.8 383.8 / 15.8 383.8 / 12.1 294.3 - 39.6 / 2,432.5 734.2 786.8 - 2.71 82.6 2019 1.6 5.2 1,176.9 / 54.5 1,176.9 297.7 / 13.8 297.7 430.8 / 20.0 430.8 / 12.4 268.4 - 16.3 / 2,157.5 334.2 438.3 - 1.23 92.2 2018 0.7 6.5 Change in % Change in << Agenda - 142.9 / - 62.2 / 11.4 / 10.9 / 9.6 / 119.7 119.7 - 79.5 9.9 112 ------

EnBW Factbook 2020 Employees of the EnBW Group Environmentgoal dimension Customersand society goaldimension Employeesgoal dimension 5 4 3 2 1 Frequency Injury Time Lost LTIF: TOP TOP TOP TOP TOP TOP TOP as well as external well as external as and agency workers contractors). Converted into full into Converted except considered generally are employees 100 than more with companies (all companies consolidated of group the in Variations Full Employees Number of employees excluding apprentices excluding employees of Number except considered generally are employees 100 than more with companies (all companies consolidated of group the in Variations [excep considered generally are employees 100 than more with companies (all companies consolidated of group the in Variations CO the share of the generation capacity accounted renewable for by energies in % outputof renewable Installedenergies in GW and SAIDI EnBW/ Reputation Index LTIF LTIF Employee Commitment Index Commitment Employee - time equivalents 2 intensityg/kWh in for (electricity) in min./year Yello companies Fiscal year 2019: Non year Fiscal Customer SatisfactionIndex - time equivalents. 5 controlled 4 1 by the group / trainees and inactive employees. inactive and trainees 2 SAIDI: SystemAverageInterruption DurationIndex / LTIF overall 3 -financialperformancekey figures t ex f orcompanies in thewastemanagement area of ITOs]). ternal agency workers and contractors). and workers ternal agency 31.12.2019 4.4 / 31.8 4.4 116 / 157 116 2.1 / 3.8 2.1 21,843 23,293 52.8 2019 419 15 66 31.12.2018 3.7 / 27.9 3.7 120 / 152 120 2.3 / 3.6 2.3 20,379 21,775 51.3 2018 553 17 62 Change in % Change in Change in % Change in - - 8.7 / 5.6 8.7 3.3 / 3.3 3.3 18.9 / << Agenda - - 24.2 11.8 7.2 7.0 2.9 6.5 - 113

EnBW Factbook 2020 2 1 by segment Group the EnBW added to Value › › Group level The figures for the previous year have been restated. been have year previous the for figures The Investment result of €59.4 m, adjusted for taxes (investment result/0.706 result/0.706 (investment taxes for adjusted m, €59.4 of result Investment fromequity investmentsfinancialheld assets. as n method equity the using for accounted entities from result the of share the investments, equity of sale the from result the Value added of Capital (WACC) Capital of Cost Average Weighted Return Employed Capital On investment result investment adjusted the incl. EBIT Adjusted Average capital employed capital Average Increase in average capitalin employed Increase ROCE at 5.2 % compared to 6.5% in the prior year 1 Fiscal year 2019: ROCE and value addedyear 2019: ROCE value and Fiscal 2 (ROCE) (ROCE) € m € m € m % % 1,308.8 174.0 Sales 74.6 13.3 2019 7.6 1,067.1 135.5 218.0 20.4 2018 7.7 - investment result; with 0.706 = 1 = 0.706 with result; investment 8,033.3 506.1 839.7 Grids 10.5 2019 4.2 7,019.8 393.1 768.4 10.9 2018 5.3 - tax rate 29.4%) ratetax 4,840.6 267.1 Energies Renewable 2019 9.7 5.3 5.5 ot relevant to the ongoing management of the company and the result result the and company the of management ongoing the to relevant ot . Does not include impairment losses and reversals to impairment losses on investments, investments, on losses impairment to reversals and losses include impairment not Does . 3,667.4 123.7 - 99.0 2018 6.1 3.4 2,044.0 - - 337.3 178.0 & Trading Generation 2019 - 7.8 8.7 2,109.0 - 189.8 - 21.9 2018 - 8.0 1.0 3,088.4 - Consolidation Other / 91.2 2019 - - - 2,190.0 - 46.6 2018 - - - 19,315.1 1,011.6 Total 2019 5.2 0.0 5.2 << Agenda 16,053.3 1,041.6 32.1 2018 6.3 6.5 114

EnBW Factbook 2020 in € m € in 1 The figures for the previous year have been restated been have year previous the for figures The Revenue Earnings indicators Total revenue Total Internal revenue Internal Depreciationamortisation and EBITDA Adjusted EBITDA revenue External Impairment losses Impairment Significant non for using the equity method equity the using for accounted entities from profit/loss Net - Fiscal year 2019: Segment reporting2019: year Fiscal cash items 8,448.5 7,678.9 - 769.6 115.3 272.5 294.3 - Sales 22.7 2019 0.0 2.0 8,075.5 7,347.7 727.8 225.1 268.4 - - 68.5 11.9 2018 - 2.5 1.1 4,819.2 1,359.6 3,459.6 1,275.6 1,311.2 - 517.7 Grids 21.5 19.1 2019 - 1.1 5,568.5 2,353.1 3,215.4 1,120.0 1,176.9 - 457.5 48.9 22.2 2018 0.0 1 1,058.1 - 405.0 653.0 469.2 482.8 221.1 - Energies Renewable 11.6 2019 3.9 1.2 - 810.6 333.1 477.5 285.1 297.7 173.7 - 48.3 2018 - 0.8 4.8 10,055.1 3,085.0 6,970.1 - - 228.1 383.8 589.4 148.0 & Trading Generation 48.6 2019 6.5 12,487.4 2,719.6 9,767.8 - 415.4 430.8 471.0 30.9 2018 - 0.9 9.4 - - 5,616.0 5,619.3 - - - Consolidation Other / 39.6 44.3 15.1 2019 - 3.3 0.2 0.0 0.0 - - 6,126.6 6,133.6 - - 44.0 16.3 29.3 2018 - - 7.0 0.0 5.7 1.1 18,765.0 18,765.0 - 1,487.8 2,245.2 2,432.5 - 160.7 Total 28.9 36.2 2019 0.0 << Agenda 20,815.4 20,815.4 - 1,200.0 2,089.6 2,157.5 - - 67.0 24.1 13.8 2018 0.0 115

EnBW Factbook 2020 1 InjuryTime LTIF: Lost TOP TOP TOP TOP TOP TOP TOP Adjusted Group net profit net Group Adjusted Group net profit Financial and strategic performance indicators strategic and Financial The figures for the previous year have been restated. been have year previous the for figures The Earnings per share from Group net profit/lossshare netfrom Earnings Group per Share of adjusted EBITDA accountedOther/ConsolidationShareEBITDA of adjustedby for Internal financing capabilityInternal Return On CapitalReturn On Adjusted EBITDA Adjusted Share of adjusted EBITDA accountedSales ShareEBITDA of adjustedby for Share of adjusted EBITDA accountedRenewableShareEBITDA of adjustedby for Energies Share of adjusted EBITDA accounted for by Generation and Trading accountedGrids ShareEBITDA of adjustedby for First six months 2020: Financial key performance figures performance key Financial 2020: six months First 2 Frequency Employed 2 1 (ROCE) 2 1 1 1 1 1 2 SAIDI: System Average Interruption Interruption Duration System Average SAIDI: In relation to the profit/loss attributable to the shareholders of EnBW AG. EnBW of shareholders the to attributable profit/loss the to relation In € m € m € m € € m € m / % m € / % m € / % m € / % m € / % m € Index 1.1. - 395.0 / 24.9 395.0 / 26.8 425.8 / 46.9 744.9 – 114.9 / 135.8 / 8.6 135.8 30.6.2020 1,586.6 1,359.1 943.8 184.2 370.2 0.68 - 7.2 1.1. 283.5 / 22.2 283.5 / 16.7 212.9 / 58.0 740.7 - 123.5 / 9.7 123.5 84.6 / – 30.6.2019 1,276.0 1,071.1 572.3 286.2 510.0 1.06 - 6.6 Change in % Change in << Agenda - 100.0 / 35.8 / 10.0 / 39.3 / 0.6 / - - - 24.3 64.9 35.6 26.9 35.6 27.4 116 – – – – –

EnBW Factbook 2020 LTIF: Lost Time Injury Frequency Injury Time Lost LTIF: Employees of the EnBW Group Employeesgoal dimension Customersand society goaldimension 6 5 4 3 2 1 TOP TOP TOP TOP Full Employees for and Converted Converted The Number Variations Variations by The RE in %” and and CO %” in RE LTIF LTIF SAIDI EnBW/ Reputation Index intervals of less than a year, the number of employees from 31 December 2019 is carried carried forward. is December 2019 31 from the number year, than a employees of less of intervals - contractors [except ITOs]). [except contractors number of employees for the ITOs (ONTRAS (ONTRAS ITOs the for employees number of ener renewable of output “Installed Index (ECI), Employee Commitment Index, Reputation indicators performance key the for values time equivalents for of employees excluding apprentices / trainees and inactive employees. inactive and trainees / apprentices excluding employees of (electricity) in min./year in the group of consolidated companies (all companies with more than 100 employees are generally considered except for extern for except considered generally are employees 100 than more with companies (all companies consolidated of group the in compan for except considered generally are employees 100 than more with companies (all companies consolidated of group the in Yello into full into companies Non 2020 six months First Customer SatisfactionIndex - 2 time equivalents. intensity will be exclusively collected at the end of the year. the end of the at collected exclusively be will intensity 5 controlled financial performance indicators-financial 4 by the group Gastransport 2 SAIDI: SystemAverageInterruption DurationIndex / LTIF overall GmbH, terranets bw GmbH and TransnetBW and GmbH bw terranets GmbH, 3 : 1 GmbH) is only updated at the end of the year; year; the of end the at updated only is GmbH) gies (RE) in GW and the share of the generation capacity accounted for accounted capacity generation the of share the and GW in (RE) gies 1.1. al al ies – agency workers and contractors and workers agency 30.06.2020 120 / 159 120 30.6.2020 1.9 / 3.1 1.9 in the area of waste management as well as external agency workers workers agency external as well as management waste of area the in 22,184 23,685 7 1.1. – 30.06.2020 116 / 161 116 2.1 / 3.6 2.1 30.6.2019 21,086 22,488 [except 8 ITOs]). - Change in % Change in Change in % Change in 9.5 / 3.4 / << Agenda - - 13.9 12.5 - 5.2 5.3 1.2 117

EnBW Factbook 2020 Goal 3 2 1 Therefore, no target value has been defined for the internal financing capability for 2025. 2025. for capability financing internal the for defined been has value target no Therefore, Systemcritical infrastructure and Sustainable generationinfrastructure 2021.from The four ratin the of requirements the on based annually examined be will value target the target, ratings its achieves EnBW ensure To Following thetransition thegrowth toperformance strategy, thekey indicator internal financing capability replacedwill be Strategy Finance Grids accounted Shareby for of result Generation and Trading Generation and accounted Sharebyfor of result Renewable Energies accounted Shareby for of result “Customer proximity” / Sales accounted Shareby for of result value Increasing Group High level of financialHigh level discipline profitabilitySecure segments 1 Finance and strategy goal dimensions goal strategy and Finance targets: and KPIs Financialand non-financial Sales, Grids, Renewable Energies and Generation and Trading will become the three strategic business fields of Smart infrastr Smart of fields business strategic three the become will Trading and Generation and Energies Renewable Grids, Sales, KPI in € bn / in % in € bn Share of overalladjusted EBITDA in € bn / in % in € bn Share of overalladjusted EBITDA in € bn / in % in € bn Share of overalladjusted EBITDA in € bn / in % in € bn Share of overalladjusted EBITDA CapitalReturn On Debt repayment% in potentialDebt Internal financing capability in % € in Adjusted EBITDA bn Employed (ROCE) in in % 2019 1.2 / 54.5 1.2 0.4 / 19.9 0.4 0.3 / 13.8 0.3 5.2 0.3 / 12.5 0.3 - 82.6 2.4 b y the new key performance indicator debt repayment potential from 2021. 2021. from potential repayment debt indicator performance key new the y g a gencies. Target 2020 Target 1.0 / 40.0 1.0 0.3 / 15.0 0.3 0.7 / 30.0 0.7 8.5 0.4 / 15.0 0.4 - > 100 2.3– - 2.5 11 uc ture for customers, customers, for ture Target 2025 Target > 14 (System criticalinfrastructure / 40.0 1.3 (Sustainable generation(Sustainable infrastructure / 40.0 1.3 6.5– (Smartinfrastructure for customers / 20.0 0.6 3.2 – 1 2 8 3 ) 3 ) 3 ) << Agenda 118

EnBW Factbook 2020 3 2 1 Goal LTIF: Lost Time Injury Frequency Injury Time Lost LTIF: Variations in the group of consolidated companies (all companies with more than 100 employees are generally considered [excep considered generally are employees 100 than more with companies (all companies consolidated of group the in Variations Variations in the group of consolidated companies (all companies with more than 100 employees are generally considered except considered generally are employees 100 than more with companies (all companies consolidated of group the in Variations except considered generally are employees 100 than more with companies (all companies consolidated of group the in Variations Customers& society Environment Employees well as external agency workers and contractors). and workers agency external as well Occupational safety Supply reliabilitySupply Customer proximity Reputation Climate protection renewable energiesExpand (RE) Employee commitment Employee Other goal dimensions goal Other targets: and KPIs Financialand non-financial SAIDI: System Average Interruption Duration Duration Index Interruption Average SAIDI: System KPI LTIF LTIF SAIDI / EnBW Reputation Index CO accounted RE forin % by the share and of the generation capacity outputof RE in GW Installed Employee CommitmentIndex 2 intensityg/kWh in for companies controlledthe Group by overall overall (electricity) in min./year Yello 3 Customer Satisfaction Index 1 2 2019 419 3.8 2.1 66 53 15 / 157 116 4.4 / 31.8 4.4 t I Target 2020 Target f f or external agency workers and contractors). and workers agency external or orcompanies in thewastemanagement area of as TOs]). - (reference year 2015: 609 g g / kWh) 609 (reference 2015: year - ≤ previous year 65 55.4 < 25 > 136 / > 159 5.0 / > 40 / > 5.0 15% to 15% to - 20% Target 2025 Target (reference year 2020) year (reference - 3.5 2.1 > 66 58 to 62 to 58 < 20 125 to 136 / 148 to 159 7.5 to 8.0 / > 50 / > 8.0 to 7.5 10% to 10% to - 20% << Agenda 119

EnBW Factbook 2020 Business segments Corporate sustainability Strategy Market environment EnBWa glance at ……………………………………………………….…………………………………………………………………………..… Capital …………………..………………………………………………………………………………..…….…… …………………………………………………………………………………………………..… ……..……………….…………………………………………………………………………..… markets ………………………………………………………………………………………..… 56 45 33 05 02 Service Corporate governance Capital Markets Keynon- and financials EnBW’smain shareholdings Capital marketsCapital › › › › › › › …………………………………………..……………………………………………………………………………………..…..… Key indicatorsfinancial Share Shareholder structure Credit ratings profileMaturity Bonds Financial assetmanagement ………….………………………….…………………………………………………………………..…..… ………………………………………………………………………………………..…..… financials ……………………..………………..…………………………...…….…… ……..……………….……………………………..…….… 136 132 120 109 97 120

EnBW Factbook 2020 EnBW’s financial objectives financial EnBW’s EnBW’s financing strategy financing EnBW’s Financial objectives and financing strategy financing and objectives Financial › › › › › › › › › › Subordinated capital to support senior debt holders debt senior support Subordinated capitalto Well- complemented by mix Funding approach investor and market Diversified - Multi strategy financing and corporate of integration Close ratios Stable credit ratings grade investment Solid Well- capital timesall markets atto access Flexible balanced maturity profile profile maturity balanced diversified portfolio financing of sources pillar strategy to ensure maximum maximum in financing ensure flexibility pillar to strategy ESG linked instruments linked << Agenda 121

EnBW Factbook 2020 ESG criteria in theircriteriaESG investment decisions Rising EnBW’sofnumberincorporate asset managers Investment › › › ESG Ensurediversity to avoid undesired risk concentration reputation,(e.g. fraud, corruption). through minimisation Risk governance the factor Improvementsclimate protectionin criteria are linkedEnBW’s to overall UN nuclear provisions while also considering ESG criteria ESG considering also while provisions nuclear AssetManagement:Financial CoveringGroup’s thepension and 63% › › targets 2016 28% Management Model at the same time same the at Model Management EnBW‘sof functionality Liability the Asset Ensuring market with trendsline in Risk 9% - optimised investments with performance investmentswith optimised 83% 2019 15% 2% - SDG Strategy: No ESG-criteria Own ESG-criteria UNPRI´s Strategic Equities EurozoneEquities corporate USD investmentgrade bonds Euro corporate bonds high yield Euro corporate bonds investmentgrade Euro government bonds asset 10% 10% 10% allocation 5% 10% 10% 5% 10% 30% Infrastructure Private equity Real Estate Global Equities << Agenda 122

EnBW Factbook 2020 4,000 8,000 12,000 16,000 1 0 200 400 600 800 in € m € in flowEnBW’s cash Adjusted for inflationAdjusted for 16.000 12.000 4.000 8.000 800 200 400 600 0 2019 Financial Financial Managementfinancing of for needsobligations pensionnuclear and Model Management Liability Asset Nuclear and and assets - pension based model based provisions 2025 OCF: Operating flow cash Operating OCF: € p.a. 300 on OCF on Max Max impact impact m 1  OCF contribution 2030  Asset contribution 2035 100% projected Coverage 2035 2040 impact on on impact No OCF 2045 2048 << Agenda 123

EnBW Factbook 2020 3 2 1 in € bn € in as of 19 October 2020 October 19 of as figures Rounded as of 30 September 2020 September 30 of as Thereof € 3.7 bn utilised bn 3.7 € Thereof Debt issuance pogramme issuance Debt Syndicated creditline Maturity date: 2025 date: Maturity Undrawn EnBW has a flexible access to variousflexibleto access financinga EnBWhas sources 1.5 7.0 3.7 3.3 1 2 1, 2 1, Bilateral credit lines Subordinated bonds Thereof € 0.5 bn utilised bn 0.5 € Thereof 3.5 1.2 0.8 1 0.4 1, 2 1, 1,3 Thereof € 0.1 bn utilised bn 0.1 € Thereof Commercial paper programmeCommercial paper Other Other › › notes in subsidiaries in notes promissory loansof and bank formthe in activities Financing ProjectEIB and financing sources 2.0 1.9 1 0.1 loans 1, 2 1, << Agenda 124

EnBW Factbook 2020 L: Luxembourg, S: Switzerland, CCY: Currency 2020 October 19 of as Issuer: EnBW International FinanceB.V. Senior Senior Senior Senior Green Senior Senior Senior Senior Senior Senior Bond Type Senior Senior Fixed income: EnBW’s senior bonds senior EnBW’s income: Fixed EUR EUR EUR YEN EUR EUR EUR EUR EUR EUR CCY EUR CHF Denomination 100,000,000 100,000 100,000 100,000 100,000 1,000 1,000 1,000 1,000 1,000 1,000 5,000 Volume 20,000 100 600 500 500 100 500 500 500 100 ( m) 75 50 (years) Term 25 30 30 15 10 20 12 30 22 20 10 5 16.12.2008 31.10.2018 12.10.2020 Issue date 16.6.2014 13.6.2014 15.1.2019 9.12.2004 12.7.2013 7.7.2009 4.6.2014 1.8.2014 7.4.2020 16.12.2038 31.10.2033 19.10.2030 16.6.2039 13.6.2034 17.4.2025 21.1.2041 16.1.2025 12.7.2023 Maturity 7.7.2039 4.6.2026 1.8.2044 Coupon Coupon 3.080 6.125 3.880 1.875 0.250 2.875 2.500 2.900 0.625 2.080 4.875 2.250 (%) 17.4.2021 Interest Interest 16.6. & 16.12. 31.10. 19.10. 16.6. 13.6. 21.1. 16.1. date 7.7. 4.6. 1.8. 1.7. Security A1HM5N A2RTNC A0DG9U A283UQ A1AJTV A28V1E A1ZJ9E (WKN) No. Private Placement Private Placement Private Placement Private Placement Private Placement CH0217677654 XS0438844093 XS1074208270 XS2242728041 XS1901055472 XS2156607702 XS0207320242 ISIN No. Exchange << Agenda Stock 125 S L L L L L L

EnBW Factbook 2020 2 1 L: Luxembourg, Frankfurt,F: CCY: Currency as Issuer: EnBW Energie EnBW Energie Issuer: Baden Subordinated U.S. person of, benefit or account the for or to, or States United the within sold or offered not are Notes These Regulation: Subordinated Bond Type Subordinated Subordinated Green Subordinated Subordinated Green Subordinated Green of 19 October 2020 October 19 of bond coupon coupon bond Fixed income: EnBW’s subordinated bonds subordinated EnBW’s income: Fixed USD CCY EUR EUR EUR EUR EUR initially 1 Denomination 100,000 100,000 100,000 2,000 1,000 1,000 - Württemberg AG Württemberg Volume 1,000 300 725 500 500 500 ( m) 2 2 2 (years) Term 60.25 60.5 60.5 62 60 60 Issue date 5.10.2016 5.10.2016 18.3.2014 22.6.2020 5.8.2019 5.8.2019 5.11.2079 29.6.2080 Maturity 5.4.2077 5.4.2077 2.4.2076 5.8.2079 s Coupon Coupon 3.375 5.125 3.625 1.625 1.125 1.875 (%) Interest date Interest 5.11. 29.6. 5.4. 5.4. 2.4. 5.8. Security A2BN7K A2BN7K A2BPFD A2BPFD A2YPEQ A2YPEP A289QA A11P78 (WKN) No. XS1044811591 XS1498442521 XS1405770907 XS1405770907 XS2035564629 XS2035564975 XS2196328608 ISIN No. Exchange << Agenda Stock F, F, L 126 L L L L L

EnBW Factbook 2020 as of 19 Octoberof2020 as i 3 2 1 n € m n € CHF 100 million, converted as of the reporting date of of date reporting the of as converted million, 100 CHF Firstcall date: subordinated maturing in 2076 First calldate: subordinatedFirst maturing in 2077; 1,000 includes USD 300 million (swap in €), coupon before swap 5.125% swap before coupon €), in (swap million 300 USD includes 2021 1 2022 993 MaturitiesbondsEnBW’s of 2 2023 93 3 2024 500 4 1,000 2025 19.10.2020 1,000 2026 500 500 5 2027 500 4 2030 500 Senior bonds Firstof dates call subordinated bonds Firstof dates call green subordinated bonds Green bond senior Subordinated bonds Green subordinated bonds 2033 500 2034 100 2038 170 6 7 6 5 4 Includes USD 300 million, converted as of of as converted million, 300 USD Includes 5.460% swap coupon before €), in (swap billion 20 JPY calldate: greenFirst subordinated maturing in 2080 calldate: greenFirst subordinated maturing in 2079 2039 700 2041 75 2044 50 1,000 2076 5.10.2016 2077 993 7 1,000 2079 << Agenda 2080 500

EnBW Factbook 2020 2 1 Rating: Portfoliotransformation sound and financialqualitysolidpolicybasis credit of the form BBB+: Long BBB+: A - › › › › › › › : Senior unsecured rating unsecured Senior : Strong shareholder supportStrong because liabilitiesof lowerrates discount Plusnet Somewhat metrics weak credit following programme, includingdevelopment offshore wind Execution relatingrisks to a large investment markets challengingconventional retailgeneration and forGermany environmentoperating in Difficult quality credit robust commitment to financialdemonstratedbalanced policyHistorically and contracts renewables undergrowing of share and transmission activitiesand regulated distributionrisk Significantfrom of proportion 50%,- around EBITDA, low Baden within integrated utilityLeadershipvertically position as - - term issuerrating Württemberg acquisitions,nuclearincreasing and pension Fixed income: Credit ratings Credit income: Fixed A3 11 June 2020 June 11 / negative / VALECO and › › › › › › Moderate likelihoodgovernment of support resilientand grid business increasing power infrastructureshare of sustainable Increasedin creditvisibility metrics, strengthened by financial leverageacquisitions2019 in by caused compensateregulated will networkhigher business)for (contracted andrenewables EBITDA ofsources New VALECO and and VALECO acquisitionspension the provisions nuclearofand and increase in an Headroomtosignificantly reduced due Limitedexposure COVID to improved flow visibility with cash risk, earnings portfoliolowering itsstrategically isEnBW Plusnet - 19 effects 19 A 21 May 2020 May 21 - / stable / › › › › › › Stronger leverage majoritymetrics thanof peers Geographicalconcentratedis Germany on risk flows timingcash have effectson could renewables projects and grids in execution risk but visibility, earnings High higherheadroom andmodel business stronger a contracted supports businesses conventional generation regulated andtowards Continued in theshift EBITDA mix fromaway recovery of regulated EBITDA, reflecting above- But one acquisitionsand of VALECO spending, including increased capitalto metricsdue reflectingone notch credit weaker Downgrade by - notch uplift to debt ratings due to rising share todue ratings notchdebtto uplift Plusnet BBB+ BBB+ A 25 March 2020 March 25 average expected - / stable / stable << Agenda 1 2 128

EnBW Factbook 2020 Stock exchange information Stock 3 2 1 Distribution related to eligible shares as of year of as shares eligible to related Distribution shares million 276.605 shares of number Total XETRA in share EnBW the trading price closing on based price Share Dividend distributionDividend Number of shares outstanding Stock exchange trade (daily average) exchangeStock (daily trade Closing price Closing Annual low Stock exchangeStock (total) trade Market capitalisation as ofDecember 31 Annual high Dividend per share per Dividend Stock markets of share Class ofNumber shares Indices Transparency level exchangeStock abbreviation identification no. security / ISIN EnBW share in figures in share EnBW 3 as of 31 December of 31 as Over RegulatedStuttgart market: andFrankfurt Ordinary no 276,604,704 CDAX Utilities, All sector DAXShare, All General General Standard Bloomberg: EBK GY/Reuters: EBKG.DE / 522000 DE0005220008 2 - end - the - counter trading: Berlin and Munich 2 - par value bearer shares 1 Number ofNumber shares Number ofNumber shares Thousand shares Thousand € € m bn € € € € 106,534 270,855 50.50 29.00 61.00 2019 0.70 13.7 426 190 270,855 86,190 29.20 25.40 34.00 2018 0.65 435 176 7.9 157,021 270,855 28.78 20.00 29.63 135.4 2017 0.50 604 7.8 270,855 80,173 19.69 18.29 24.25 2016 0.00 0.00 391 5.3 << Agenda 125,440 270,855 20.62 20.21 27.00 149.0 2015 0.55 568 5.6 129

EnBW Factbook 2020 2 1 100% subsidiary of NECKARPRI GmbH, which is a 100% subsidiary of the State of Baden of State the of subsidiary 100% a which is GmbH, NECKARPRI of subsidiary 100% 2020 September 30 of as figures rounding; to due 100% to up add not May Shareholder structure Shareholder 1 Other shareholders Other EnBW EnBW Neckar-Elektrizitätsverband Gemeindeelektrizitätsverband NECKARPRI Badische OEW - Württemberg Energie-Beteiligungs Energie Energieaktionärs -Beteiligungsgesellschaft Baden -Württemberg -Vereinigung GmbH GmbH Schwarzwald AG mbH 2 -Donau 46.75% 46.75% 0.39% 2.08% 0.97% 0.63% 2.45% << Agenda 130

EnBW Factbook 2020 Dividend policy ourcreditto manage metrics indicators Key performance used 3 2 1 Adjusted for inflationAdjusted for general to strives EnBW whereby flow, cash retained the and investment net of amount the on is based dividend the of The size To ensure EnBW's rating targetmet, is the target valuereviewed is annually in line with the requirements theof rating age 40 % and 60 and % 40% to 60%of adjusted Groupnet profit of ratio payouttorange limited a Annual From Until 2021 2020 % of Adjusted group net profit attributable to the shareholders of EnBW AG. EnBW of shareholders the to attributable profit net group Adjusted of % Financial KPI’s are focusedFinancialKPI’s are on creditinvestors’ needs . Net investments financedflowsinternal by cash RCF capability: financing Internal RCF repayment Debt potential: 2 / cash / / Net / Net debt - relevant relevant > 14% net 1 investments ≥ 100% nuclear obligations pensionfinancingneeds of for and Management Timely p.a. m €300 to flow limited cash operating on Impact Asset Liability Management Model in place since 2003 Projected financial nc ies. ies. ly coverage distribute between between distribute assets year of full of of nuclearof coverage and pension and : 2035 2035 : obligations by 3 << Agenda 131

EnBW Factbook 2020 Business segments Corporate sustainability Strategy Market environment EnBWa glance at ……………………………………………………….…………………………………………………………………………..… Corporate …………………..………………………………………………………………………………..…….…… …………………………………………………………………………………………………..… ……..……………….…………………………………………………………………………..… ………………………………………………………………………………………..… governance 56 45 33 05 02 Service Corporate Governance Capital markets Keynon- and financials EnBW’smain shareholdings Corporate governanceCorporate › › › › …………………………………………..……………………………………………………………………………………..…..… Data protectionData Compliance Corporate Governance CodexGerman Responsible transparent and management ………….………………………….…………………………………………………………………..…..… ………………………………………………………………………………………..…..… financials ……………………..………………..…………………………...…….…… ……..……………….……………………………..…….… 136 132 120 109 97 132

EnBW Factbook 2020 › › › Dr. Hans Dr. ChiefExecutive Officer Dr.Mastiaux Frank ChiefOfficer Technology Board Board Represents the company legally the Represents management Group Responsible of Corporate - Josef Zimmer Management governance Colette RückertColette Financial Officer Chief Kusterer Thomas ChiefOfficer Personnel - Hennen : Responsible Transparent & EnBW Strengthen Long › › › › confidence Public Employees Capital providers Customers corporate - term term trust responsible success in in culture and and andtransparent management › › › › › Chairman of the Supervisory Board Feldmann Lutz Supervisory Advises themthe companymanagementon ofAdvises Management of Board the Supervises remuneration Appoints members of Board of Management and definestheir thereof 3 representatives, union representatives 20 members: Board 10 shareholder representatives, 10 employee employee 10 representatives, shareholder 10 << Agenda 133

EnBW Factbook 2020 Number of participants in compliance training events 1 At EnBW AG and directly controlled companies with employees with companies controlled directly and AG EnBW At 2015 778 546 186 46 Sensitive areas managementNew personnelemployees / Management personnel Corporate Compliance governance: 2016 754 523 184 47 2017 962 158 441 363 2018 941 746 182 13 +26% 1,185 2019 904 229 52 1 › › › › Compliancesystem: management Numbercompliance of breaches2019 in Code of Conduct, Annual Compliance Risk Assessment and Ombudsman Assessment Conduct, AnnualRisk Compliance of Code training/workshopse.g.used Various tools in companiesall controlled with Encompassesthe employees EnBW Group on company- Focuses reputation of andminimise avoidto risksand liability loss issues Serves 2018 10 9 1 and sector 2019 specific risks and priorities and risks -specific 9 9 0 – focused on compliance attitudeon compliance focused Simple complianceSimple breaches complianceMaterial breaches 1 << – Agenda 134

EnBW Factbook 2020 3 2 1 Data protection compliance cycle compliance protection Data Managers in in Managers Human 1 areas: the business 1 following IT, Resources, Trading, 1 Nuclear, Operation & 1 2 1 Generation, 1 Sales, 2019 December 31 of as Data Protection Officer under Article 37 Article under Officer Protection and solutions Security aspects Data protectionCorporatechain Data governance: the in value Subject - 39 of the GDPR the of 39 Legal compliance technology strategy Digitization and aspects Value chain Processes involving protectiondata in all parts of the value chain Processes involving protectiondata in all parts of the value chain › › › › › › › › › › › › has far so This involved: 14 Local DataLocal Protection14 Managers³ data protection and Partner digitization Business 1 2 Data protection compliance& employees 2 Data protectionofficers² Compliance of Head data and1 protection Central organisation of data protection Group at EnBW the 980 standard. AdvancementData theof ProtectionManagement System ( process designers facing developers specificallyand coursetraining multimedia for business a Implementing Ongoing training of employees to consider newthe legal framework data subjects of rights Revision of all processing operations in customer service to incorporate the enhanced direct main at with audits suppliers accessStarting onsite customerstodata increasing transparency and accountability Second wave in restructuring 400 processingsome and assessing to operations G rids, 6 Other Businesses Other 6 rids, GDPR requirements. 1 DPMS ) ) based on the IDW AsS << Agenda 135

EnBW Factbook 2020 Business segments Corporate sustainability Strategy Market environment EnBWa glance at ……………………………………………………….…………………………………………………………………………..… Service …………………..………………………………………………………………………………..…….…… …………………………………………………………………………………………………..… ……..……………….…………………………………………………………………………..… ………………………………………………………………………………………..… 56 45 33 05 02 Service Corporate governance Capital markets Keynon- and financials EnBW’smain shareholdings Service › › › …………………………………………..……………………………………………………………………………………..…..… Important links details Contact Financial calendar ………….………………………….…………………………………………………………………..…..… ………………………………………………………………………………………..…..… financials ……………………..………………..…………………………...…….…… ……..……………….……………………………..…….… 136 132 120 109 97 136

EnBW Factbook 2020 12 November12 2021 13 November13 2020 25 March25 2021 29 July 10 May10 2021 5 May 20215 Financial calendar 2021 Conference AnalystInvestortime and Conference 01:00 pm Call: Publicationfigures Q3 2021 Conference time Investor Analyst and Conference 01:00 Call: pm Publicationfigures Q2 2021 Conference time Investor Analyst and Conference 03:00 Call: pm Conference time Investor Analyst and Conference 01:00 Call: pm Publicationfigures Q1 2021 Annual GeneralMeeting 2021 Publication Conference time Investor Analyst and Conference 01:00 Call: pm Publicationfigures Q3 2020 figures full year 2020 Upcoming events << Agenda 137

EnBW Factbook 2020 When taking strategic decisions, the interest of our investors is always of relevance.” (Ingo Peter Voigt) Peter (Ingo of relevance.” always is our investors of interest the decisions, strategic taking When potential a for value generating EnBW’s underscoreto enable us with investors dialogue “Activeourongoing communication and EnBWIR contacts Investor Relations Investor M&A and of Head Finance, Peter Voigt Ingo Investor Relations Investor Manager Lea Gantz +49 721 +49 721 – – 63 14375 63 13646 [email protected] (Finance, Ratings) Markets Director Capital Berlin Peter Investor Relations Investor Manager Martin Regina +49 721 +49 721 – – 63 12844 63 13613 Investor Relations Investor Manager Reinhardt Julia Relations Investor Senior Manager Wietersheim von Julia +49 721 +49 721 – – 63 12697 63 12060 dde d. << Agenda 138

EnBW Factbook 2020 EnBW OverviewEnBW SupervisoryBoard EnBW Overview EnBW EnBW group Articles of AssociationArticles of Corporate GovernanceReport CorporateGerman GovernanceCode currentEnBW ratings Maturities of our bonds Financing facilities IntegratedReport Annual Six Calendar Financial SustainableEnBW Finance monthlyreport 2020 Strategy Investor Relations online Important links Board of Management 2019 https://www.enbw.com/company/investors/corporate governance https://www.enbw.com/media/downloadcenter/corporate https://www.enbw.com/media/investoren/docs/corporate https://www.enbw.com/company/investors/bonds/ratings.html https://www.enbw.com/company/investors/bonds/ https://www.enbw.com/financial https://www.enbw.com/media/bericht/bericht_2019/downloads/integrated https://www.enbw.com/media/investoren/investors_docs/news_und_publikationen/q2 https://www.enbw.com/company/investors/events/finance https://www.enbw.com/company/sustainability/sustainability https://www.enbw.com/strategy https://www.enbw.com/company/the https://www.enbw.com/company/the www.enbw.com/investors www.enbw.com - report - 2019.pdf - strategy - - - group/about - group/about us/supervisory - us/executive - governance/articles- - - - governance/191216_german_corporate_governance_code.pdf governance/declaration- calender/ - approach/sustainable board/ - board/ - of- annual association/ - of- report - finance/ corporate - 2020/enbw - 2019.pdf - management - six - monthly - including - financial - - the report - corporate - q2 - 2020.pd - << Agenda f 139

EnBW Factbook 2020 Unless request, of This No Group future assumptions, examples securities constitute published This Future purposes context, the offer presentation presentation - EnBW and - oriented indicated oriented or instruction but . only issued for is and an investment Group calculated Important may plans, the offer, calculations statements statements otherwise, by contains has first also or or estimates EnBW an any been recommendation recommendation according time be invitation other future Energie are identified prepared . all are Future and therefore company note data - included to oriented forecasts or Baden IFRS - contained oriented for by a to . . recommendation only information This the - statements vote Württemberg in of valid this use presentation statements or the hereinafter give of presentation at management purposes the the that consent AG time words are are to does refers (EnBW), purchase . at based indicated . only All not for of which “may”, to descriptions, EnBW constitute It a illustration on the company does they current or by . EnBW “will”, Such sell are not the a events EnBW this No results statements guaranteed future companies results, cannot By “potentially” “should”, nature, obligation presentation - assumes oriented or will be the developments “plans”, future controlled actually will of nor or financial to the “continued” can prove statements no update - oriented or EnBW obligation occur any “intends”, to complete, position, or . the liability adjust accurately in Group statements information and the made of be or “expects”, development similar future correct any may assumed update in kind predicted this . are therefore expressions or to subject future . presentation precise “believes”, otherwise update or by performance - diverge oriented to EnBW or . the risks that that “assumes”, information Therefore . considerably expected and Actual statements these of uncertainties future EnBW events, it and contained “forecasts”, cannot - from to << Agenda oriented forecast and future future that the the 140 be in

EnBW Factbook 2020