Innogy SE in Respect of Non-Equity Securities Within the Meaning of Art

Second Supplement dated 18 January 2019 to the Prospectus dated 13 April 2018 as supplemented by the First Supplement dated 18 May 2018

This document constitutes a supplement (the "Second Supplement") within the meaning of Article 16 of Directive 2003/71/EC of the European Parliament and the Council of 4 November 2003 (the "Prospectus Directive") to two base prospectuses: (i) the base prospectus of innogy SE in respect of non-equity securities within the meaning of Art. 22 No. 6 (4) of the Commission Regulation (EC) No. 809/2004 of 29 April 2004, as amended and (ii) the base prospectus of innogy Finance B.V. in respect of Non-Equity Securities (together, the "Debt Issuance Programme Prospectus" or the "Prospectus").

This Second Supplement is supplemental to and must be read in conjunction with the Debt Issuance Programme Prospectus dated 13 April 2018 as supplemented by the First Supplement dated 18 May 2018 (together, the "Supplemented Prospectus").

innogy SE (Essen, Federal Republic of Germany) as Issuer and, in respect of Notes issued by innogy Finance B.V., as Guarantor innogy Finance B.V. (´s-Hertogenbosch, The Netherlands) as Issuer € 20,000,000,000 Debt Issuance Programme (the "Programme")

The Issuers (as defined below) have requested the Commission de Surveillance du Secteur Financier of the Grand Duchy of Luxembourg (the "Commission") in its capacity as competent authority under the Luxembourg act relating to prospectuses for securities (Loi relative aux prospectus pour valeurs mobilières, the "Luxembourg Law"), which implements the Prospectus Directive, to approve this Second Supplement and to provide the competent authorities in the Federal Republic of Germany ("Germany"), The Netherlands, the Republic of Austria, and the United Kingdom of Great Britain and Northern Ireland with a certificate of approval attesting that the Second Supplement has been drawn up in accordance with the Luxembourg Law (each a "Notification"). The Issuers may request the Commission to provide competent authorities in additional member states within the European Economic Area with a Notification. By approving a prospectus, the Commission shall give no undertaking as to the economic and financial soundness of the operation or the quality or solvency of the Issuers pursuant to Article 7(7) of the Luxembourg Law.

This Second Supplement has been approved by the Commission, has been filed with said authority and will be published in electronic form on the website of the Luxembourg Stock Exchange (www.bourse.lu) and on the website of innogy Group (www.innogy.com).

RESPONSIBILITY STATEMENT innogy SE ("innogy", "innogy SE" or the "Guarantor", together with its consolidated group companies, the "innogy Group") with its registered office in Essen, Federal Republic of Germany and innogy Finance B.V. ("innogy Finance") with its registered office in 's-Hertogenbosch, The Netherlands (herein each also called an "Issuer" and together the "Issuers") are solely responsible for the information given in this Second Supplement.

Each Issuer hereby declares that, having taken all reasonable care to ensure that such is the case, the information contained in this Second Supplement for which it is responsible is, to the best of its knowledge, in accordance with the facts and contains no omission likely to affect its import.

Terms defined or otherwise attributed meanings in the Supplemented Prospectus have the same meaning in this Second Supplement.

This Second Supplement shall only be distributed in connection with and should only be read in conjunction with the Supplemented Prospectus.

To the extent that there is any inconsistency between any statement in this Second Supplement and any other statement in or incorporated by reference into the Supplemented Prospectus, the statements in this Second Supplement will prevail.

Save as disclosed in this Second Supplement, there has been no other significant new factor, material mistake or material inaccuracy relating to information included in the Supplemented Prospectus which is capable of affecting the assessment of Notes issued under the Programme since the publication of the Supplemented Prospectus.

Each Issuer has confirmed to the Dealers that this Second Supplement contains all information which is necessary to enable investors to make an informed assessment of the assets and liabilities, financial position, profit and losses and prospects of the Issuers and the rights attaching to the Notes which is material in the context of the Programme; that the information contained herein with respect to the Issuers and the Notes is accurate and complete in all material respects and is not misleading; that any opinions and intentions expressed herein are honestly held and based on reasonable assumptions; that there are no other facts with respect to the Issuers or the Notes, the omission of which would make this Second Supplement and the Supplemented Prospectus as a whole or any of such information or the expression of any such opinions or intentions misleading; that the Issuers have made all reasonable enquiries to ascertain all facts material for the purposes aforesaid.

No person has been authorised to give any information which is not contained in or not consistent with this Second Supplement and the Supplemented Prospectus or any other document entered into in relation to the Programme or any information supplied by any Issuer or any other information in the public domain and, if given or made, such information must not be relied upon as having been authorised by the Issuers, the Dealers or any of them.

To the extent permitted by the law of any relevant jurisdiction, neither the Arranger nor any Dealer nor any other person mentioned in this Second Supplement and the Supplemented Prospectus, excluding the Issuers and the Guarantor, is responsible for the information contained in this Second Supplement and the Supplemented Prospectus, or any Final Terms or any document incorporated therein by reference, and accordingly, and to the extent permitted by the laws of any relevant jurisdiction, none of these persons accepts any responsibility for the accuracy and completeness of the information contained in any of these documents.

RIGHT TO WITHDRAW

In accordance with Article 13 paragraph 2 of the Luxembourg Law, where the Supplemented Prospectus relates to an offer of Notes to the public, investors who have already agreed to purchase or subscribe for Notes before this Second Supplement is published have the right, exercisable within a time limit of two working days after the publication of this Second Supplement, until 22 January 2019, to withdraw their acceptances provided that the new factor, mistake or inaccuracy referred to in Article 13 paragraph 1 of the Luxembourg Law arose before the final closing of the 3

offer to the public and the delivery of the Notes. 4

Supplemental information

I. Replacement and supplemental information pertaining to the SUMMARY and the GERMAN TRANSLATION OF THE SUMMARY

1. "Element B.5" under the heading "SUMMARY – Section B – [Issuer] [Guarantor]" on page 8 of the Supplemented Prospectus shall be replaced by the following:

"B.5 Description of the innogy SE is the parent company of the innogy Group. Group and the Issuer's The innogy Group is divided into three functionally distinct position within the divisions: Renewables, Grid & Infrastructure and Retail. Group When considering also geographical aspects, the Group is divided into six operating segments: • Renewables; • Grid & Infrastructure Germany; • Grid & Infrastructure Eastern Europe; • Retail Germany; • Retail Netherlands/Belgium; and • Retail Eastern Europe Since the third quarter of 2018, the retail operations of npower and thus the segment Retail United Kingdom are reported as discontinued operations according to IFRS 5. After stopping the negotiations with SSE in December 2018 the Retail UK segment will be accounted for as continued operations again in the future. The divisions are supported by in-house service providers. innogy as the group's head office concentrates on group- managing tasks."

2. "Element B.12" under the heading "SUMMARY – Section B – [Issuer] [Guarantor]" on page 9 of the Supplemented Prospectus shall be replaced by the following:

"B.12 Selected historical key financial information

Selected Balance Sheet information (unaudited) (audited) (audited)

30 Sep 31 Dec 31 Dec 2018 2017 2016 € in million Non-current assets 37,097 36,502 36,239 Current assets 13,621 10,312 10,651 Assets 50,718 46,814 46,890

Equity 11,197 11,252 10,667 Non-current liabilities 26,091 22,913 24,442 Current liabilities 13,430 12,649 11,781 Equity and liabilities 50,718 46,814 46,890

Selected Income Statement information

(audited)

2017 2016 € in million Revenue 41,119 41,549 Income before tax 1,648 2,201 Income 1,149 1,786 Net income / income attributable to innogy SE shareholders 778 1,513 Basic and diluted earnings per common and preferred share in € 1.40 4.15

(unaudited)

Jan – Sep Jan – Sep 2018 20171 € in million Revenue (continued operations) 22,408 24,811 Income before tax (continued operations) 1,513 1,760 Income (continued operations) 1,057 1,315 Income (discontinued operations) (571) (662) Income 486 653 Net income / income attributable to innogy SE shareholders 228 389 Basic and diluted earnings per common and preferred share in € 0.41 0.70

Selected Cash Flow Statement information

(audited)

2017 2016 € in million Cash flows from operating activities 2,654 2,674 Cash flows from investing activities (after initial/subsequent transfer to plan assets) (1,800) 5,218 Cash flows from financing activities (1,172) (7,042) Net change in cash and cash equivalents (309) 829 Cash and cash equivalents at end of the reporting period as per the consolidated balance sheet 1,070 1,379

(unaudited)

Jan – Sep Jan – Sep 2018 20171 € in million Cash flows from operating activities (continued operations) 1,782 1,672 Cash flows from operating activities (discontinued operations) (149) (69) Cash flows from operating activities 1,633 1,603 Cash flows from investing activities (continued operations) (after initial/subsequent transfer to plan assets) (2,111) (338) Cash flows from investing activities (discontinued operations) (after initial/subsequent transfer to plan assets) (47) (74) Cash flows from investing activities (after initial/subsequent transfer to plan assets) (2,158) (412) Cash flows from financing activities (continued operations) 816 (1,178) Cash flows from financing activities (discontinued operations) 193 150 Cash flows from financing activities 1,009 (1,028) Net change in cash and cash equivalents 490 173 Cash and cash equivalents at end of the reporting period as per the consolidated balance sheet 1,558 1,552

1 Prior-year figures adjusted due to the presentation of the retail activities of npower as a discontinued operation pursuant to IFRS 5.

No Material adverse There has been no material adverse change in the prospects of change in the prospects innogy since 31 December 2017. of the Issuer

Significant change in Not applicable. There has been no significant change in the the financial and financial or trading position of innogy since 30 September 2018." trading position

3. "Element B.13" under the heading "SUMMARY – Section B – [Issuer] [Guarantor]" on pages 9- 11 of the Supplemented Prospectus shall be replaced by the following:

"B.13 Recent events Intended acquisition by E.ON of RWE's stake and other shares in innogy. In March 2018, RWE AG ("RWE") and E.ON SE ("E.ON") have announced to have entered into an agreement under which E.ON intends to acquire RWE's approx. 76.79% stake in innogy in a block trade to be followed by a wide-ranging exchange of business activities and participations between RWE, E.ON and innogy. In connection therewith, on 27 April 2018, an indirect subsidiary of E.ON launched a voluntary public cash takeover offer to the shareholders of innogy that has been accepted for approx. 9.41 percent of the innogy shares. The closings of the takeover offer and of the transaction between RWE and E.ON are each subject to a number of conditions. According to E.ON, the latest possible completion date for the takeover offer is 13 January 2020.

Triton Knoll Offshore Wind Project achieves Financial Close. innogy finds new partners for its Triton Knoll offshore wind farm and achieves Financial Close with all of required debt funding fully committed by the project lenders. innogy sells 41% of its Triton Knoll offshore wind farm to J-Power (25%) and to Kansai Electric Power (16%); innogy currently retains a stake of 59%. Total planned investment volume amounts to approximately £2 billion of which around £1.75 billion of debt facilities are provided by a consortium of 15 banks. innogy successfully closes onshore wind transaction in the US. innogy successfully closes onshore wind transaction in the US by acquiring EverPower Wind Holdings’ US on-shore wind development business as announced in December 2017. The project pipeline consists of onshore wind development projects exceeding in total 2.0 GW. Approval by the US government’s Committee on Foreign Investment in the United States (CFIUS) and consents from authorities at state level have been received. innogy and SSE stop negotiations on the planned transaction in Great Britain. innogy SE and SSE plc stopped the negotiations on commercial adjustments for combining their retail businesses in Great Britain as announced in November 2017. The reason for this is that the two parties could not agree on a joint solution for the necessary direct and indirect financial contributions. Supervisory Board decides on personnel topics. Uwe Tigges was appointed CEO. Arno Hahn was appointed as new Chief Human Resources Officer and Labour Director. The contracts of the Executive Board members Hildegard Müller, Hans Bünting and Martin Herrmann were extended until 31 March 2022. innogy grants due diligence for its business in Czech Repulic. Following expressions of interest for certain business activities, innogy decides to grant due diligence for its business in Czech Republic. innogy paid a dividend of €1.60 per share for fiscal year 2017. On the 24 April 2018 the Annual General Meeting of innogy SE resolved to distribute a dividend of €1.60 per dividend-bearing share for the fiscal year 2017. The dividend was paid on 27 April 2018. innogy confirms targets for financial discipline and strategic orientation. At the beginning of 2018, innogy confirmed its targets for financial discipline as a key component in pursuing its growth strategy. A leverage factor of around 4.0 (ratio of net debt to adjusted EBITDA) and a pay-out ratio of 70% to 80% of adjusted net income are still the key financial indicators. innogy is aware of the importance of a stable, attractive dividend and an appropriate debt level for the capital market. In 2018-2020, the capital expenditure programme will continue to concentrate on the core businesses in the Renewables, Grid & Infrastructure and Retail divisions. Beyond this, growth opportunities are seen in e-mobility, broadband and solar power. All growth options will be pursued, subject to the strict return requirements and the 8

availability of funding. innogy will continuously review the financing of growth projects, exploring all of the possibilities in terms of ownership and financing structures in order to create the best value for the company and its shareholders. Successful bond issue with a total volume of € 1 billion. At the end of January 2018, innogy Finance B.V. issued a bond guaranteed by innogy SE. With a term of 11.5 years, the bond has an annual coupon of 1.5%, an issue price of 98.785% and a yield of 1.617% per annum. The issue was several times oversubscribed. The proceeds from this bond will be used to refinance liabilities due as well as for general business activities. Reallocation of Green Bond proceeds. On 10 October 2018 proceeds from innogy’s inaugural Green Bond (issued in October 2017 with a nominal value of €850 million) were reallocated to grid projects. Sustainalytics, an ESG agency, confirmed the continued validity of innogy’s Green Bond Framework and the eligibility of projects in the grid business. Expansion of the solar power business in Australia. In February 2018, innogy concluded a contract with Overland Sun Farming, one of the leading project developers in Australia, on the acquisition of two utility-scale solar power development projects in Australia, further driving the expansion of its valuable solar power business. Together, the "Limondale" and "Hillston" projects in New South Wales have a capacity of 460 MW. The project companies are due to be transferred in the second quarter of this year. Completion of the transaction is still subject to some conditions, including the approval of the Foreign Investment Review Board (FIRB), an Australian government body. innogy acquires another gas utility in Croatia. With the acquisition of the grid and retail company Montcogim- Plinara headquartered in Sveta Nedelja, in January 2018 innogy further expanded its market share on the Croatian gas market. In 2016, Montcogim-Plinara registered sales of around € 11.4 million, with a workforce of 21 employees. The company is active in six cites in the Zagreb region and has a roughly 375 km gas grid, which is among the most modern in Croatia. Acquisition of Regionetz GmbH. In early January 2018, based on a contractual agreement innogy obtained control over the 'Grids' division of Stadtwerke Aachen AG ("STAWAG") and will include this in its consolidated financial statements from the first quarter of 2018 onwards."

4. "Element B.17" under the heading "SUMMARY – Section B – [Issuer] [Guarantor]" on page 11 of the Supplemented Prospectus shall be replaced by the following:

"B.17 Credit ratings of the innogy is currently rated BBB+1 and the senior unsecured bonds Issuer or its debt issued by innogy are currently rated A-1 with stable outlook by securities Fitch Ratings Ltd. ("Fitch")2,3, BBB1 with stable outlook by Standard & Poor's Credit Market Services Europe Limited ("Standard & Poor's")3,2 and Baa21 with stable outlook by Moody's Investors Services Ltd ("Moody's")2,3. The credit ratings are F21, A−21 and P-21, respectively, for short-term innogy 9

bonds.

[The Notes have been assigned a rating of [] by [].]

1 A credit rating assesses the creditworthiness of an entity and informs an investor therefore about the probability of the entity being able to redeem invested capital. It is not a recommendation to buy, sell or hold securities and may be revised or withdrawn by the rating agency at any time. 2 The European Securities and Markets Authority publishes on its website (http://www.esma.europa.eu/page/Listregistered- and-certified-CRAs) a list of credit rating agencies registered in accordance with the CRA Regulation. That list is updated within five working days following the adoption of a decision under Article 16, 17 or 20 CRA Regulation. The European Commission shall publish that updated list in the Official Journal of the European Union within 30 days following such update. 3 Fitch, Moody's and Standard & Poor's are established in the European Community and are registered under the CRA Regulation."

5. "Element B.12" under the heading "SUMMARY – Section B – Issuer" on pages 12-13 of the Supplemented Prospectus shall be replaced by the following:

"B.12 Selected historical key financial information

Selected Balance Sheet information (unaudited) (audited) (audited) (before appropriation of result) 30 June 2018 31 Dec 20171 31 Dec 20162 €'000 €'000€ Non-current assets 11,171,308 10,165,428 9,705,556 Current assets 2,384,988 1,411,333 533,543 Total Assets 13,556,296 11,576,761 10,239,099

Equity attributable to equity holders of the parent 14,987 13,809 13,583 Non-current liabilities 11,171,308 10,165,428 9,705,556 Current liabilities 2,370,001 1,397,524 519,960 Total equity and liabilities 13,556,296 11,576,761 10,239,099

Selected Income Statement information

(audited) (audited) 2017 20162 ______€'000 €'000

Interest income 544,030 551,495 Interest expenses (532,340) (539,774) General and administrative expenses (9,388) (9,690) Operating income 2,302 2,031 Net result after taxation 1,726 1,523

(unaudited) (unaudited) Jan – Jun Jan – Jun 2018 2017

€'000 €'000

Interest income 278,647 262,459 Interest expenses (272,357) (256,667) General and administrative expenses (4,720) (4,816) Operating income 1,570 976 Net result after taxation 1,178 732

Selected Cash Flow Statement information

(audited) (audited) 2017 20162 ______€'000 €'000

Cash flows from operating activities 1,291 1,758 Cash flows from investment activities - - Cash flows from financing activities (1,500) (1,400) Net increase/(decrease) in cash and cash equivalents (241) 326

(unaudited) (unaudited) Jan – Jun Jan – Jun 2018 2017

€'000 €'000

Cash flows from operating activities 949 310 Cash flows from investment activities - - Cash flows from financing activities - - Net increase/(decrease) in cash and cash 935 416 equivalents

1 The above shown figures for 2017 are taken from the financial report for the six-month period ending 30 June 2018 of innogy Finance B.V. and differ from the audited financial statement 2017 of innogy Finance B.V. They were calculated as comparatives for the fiscal year 2017 taking the change of accounting priciples into account. The notes of the financial report for the six-month period ending 30 June 2018 which are incorporated by reference into the Prospectus reveal how the figures are derived in detail. These comparatives from the financial report for the six- month period ending 30 June 2018 are not audited. 2 The above shown figures for 2016 are taken from the financial statement 2017 of innogy Finance B.V. and differ from the audited financial statement 2016 of innogy Finance B.V. They were calculated as comparatives for the fiscal year 2017 taking the merger of innogy Finance II B.V. into innogy Finance B.V. in 2017 into account. The notes of the financial statement 2017 which are incorporated by reference into the Prospectus reveal how the figures are derived in detail.

No material adverse change in There has been no material adverse change in the prospects the prospects of the Issuer of innogy Finance since 31 December 2017. 11

Significant change in the Not applicable. There has been no significant change in the financial and trading position financial or trading position of innogy Finance since 30 June 2018."

6. In "Element B.13" under the heading "SUMMARY – Section B – Issuer" on page 13 of the Supplemented Prospectus, the following shall be inserted:

"Increase of a senior bond in July At the beginning of July 2018 innogy Finance tapped the 4.5- year senior bond by €250 million which was placed in May 2018 with a volume of €500 million and a yearly coupon of 0.75 %.

Reallocation of Green Bond proceeds On 10 October 2018 proceeds from innogy Finance B.V.’s inaugural Green Bond (issued in October 2017 with a nominal value of €850 million) were reallocated to grid projects. Sustainalytics, an ESG agency, confirmed the continued validity of innogy’s Green Bond Framework and the eligibility of projects in the grid business."

7. "Element B.17" under the heading "SUMMARY – Section B – Issuer" on page 14 of the Supplemented Prospectus shall be replaced by the following:

"B.17 Credit ratings of the innogy Finance is currently rated BBB+1 and the senior, Issuer or its debt unsecured bonds issued by innogy Finance are currently rated securities A-1 by Fitch Ratings Ltd. ("Fitch")2,3 with stable outlook, BBB1 by Standard & Poor's Credit Market Services Europe Limited ("Standard & Poor's")3,2 with stable outlook and Baa21 with stable outlook by Moody's Investors Service Ltd ("Moody's")2,3. The credit ratings are F21, A−21 and P-21, respectively, for short- term innogy Finance bonds. [The Notes have been assigned a rating of [] by [].]

8. "Punkt B.5" under the heading "GERMAN TRANSLATION OF THE SUMMARY – ZUSAMMENFASSUNG – Abschnitt B – [Emittentin] [Garantin]" on pages 23-24 of the Supplemented Prospectus shall be replaced by the following:

"B.5 Beschreibung der Gruppe innogy ist die Muttergesellschaft des innogy Konzerns. und der Stellung des Der innogy Konzern ist in drei funktional voneinander abge- Emittenten innerhalb grenzte Unternehmensbereiche aufgegliedert: Erneuerbare 12

dieser Gruppe Energien, Netz & Infrastruktur sowie Vertrieb. Berücksichtigt man zusätzlich regionale Aspekte, ergibt sich eine Aufteilung in sechs operative Segmente: • Erneuerbare Energien; • Netz & Infrastruktur Deutschland; • Netz & Infrastruktur Osteuropa; • Vertrieb Deutschland; • Vertrieb Niederlande/Belgien; und • Vertrieb Osteuropa Die Unternehmensbereiche werden durch interne Dienstleiter unterstützt. innogy nimmt im Konzern Holdingaufgaben wahr. Seit dem dritten Quartal 2018 werden die Vertriebsaktivitäten von npower und damit das Segment Vertrieb Großbritannien als nicht fortgeführte Aktivitäten gemäß IFRS 5 bilanziert. Nach der Beendigung der Verhandlungen mit SSE im Dezember 2018, wird das Segment Vertrieb Großbritannien zukünftig wieder als fortgeführte Aktivität ausgewiesen."

9. "Punkt B.12" under the heading "GERMAN TRANSLATION OF THE SUMMARY – ZUSAMMENFASSUNG – Abschnitt B – [Emittentin] [Garantin]" on pages 24-25 of the Supplemented Prospectus shall be replaced by the following:

"B.12 Ausgewählte wesentliche historische Finanzinformationen

Ausgewählte Informationen aus der Bilanz (ungeprüft) (geprüft) (geprüft) 30 Sep 31 Dec 31 Dec 2018 2017 2016 in Mio. € Langfristiges Vermögen 37.097 36.502 36.239 Kurzfristiges Vermögen 13.621 10.312 10.651 Aktiva 50.718 46.814 46.890

Eigenkapital 11.197 11.252 10.667 Langfristige Schulden 26.091 22.913 24.442 Kurzfristige Schulden 13.430 12.649 11.781 Passiva 50.718 46.814 46.890

Ausgewählte Informationen aus der GuV-Rechnung

(geprüft)

2017 2016 in Mio. € Umsatzerlöse 41.119 41.549 Ergebnis vor Steuern 1.648 2.201 Ergebnis 1.149 1.786 Nettoergebnis/Ergebnisanteile der Aktionäre der innogy SE 778 1.513 Unverwässertes und verwässertes Ergebnis je Aktie in €1 1,40 4,15

(ungeprüft)

Jan – Sep Jan – Sep 2018 20171 in Mio. € Umsatzerlöse (fortgeführte Aktivitäten) 22.408 24.811 Ergebnis vor Steuern (fortgeführte Aktivitäten) 1.513 1.760 Ergebnis (fortgeführte Aktivitäten) 1.057 1.315 Ergebnis (nicht fortgeführte Aktivitäten) -571 -662 Ergebnis 486 653 Nettoergebnis/Ergebnisanteile der Aktionäre der innogy SE 228 389 Unverwässertes und verwässertes Ergebnis je Aktie in €2 0,41 0,70

Ausgewählte Informationen aus der Kapitalflussrechnung

(geprüft)

2017 2016 in Mio. € Cash Flow aus laufender Geschäftstätigkeit 2.654 2.674 Cash Flow aus der Investitionstätigkeit (nach Erst-/Nachdotierung von Planvermögen) -1.800 5.218 Cash Flow aus der Finanzierungstätigkeit -1.172 -7.042 Veränderung der flüssigen Mittel -309 829 Flüssige Mittel zum Ende des Berichtszeitraums laut Konzernbilanz 1.070 1.379

(ungeprüft)

Jan – Sep Jan – Sep 2018 20171 in Mio. € Cash Flow aus laufender Geschäftstätigkeit (fortgeführte Aktivitäten) 1.782 1.672 Cash Flow aus laufender Geschäftstätigkeit (nicht -69 14

fortgeführte Aktivitäten) -149 Cash Flow aus laufender Geschäftstätigkeit 1.633 1.603 Cash Flow aus der Investitionstätigkeit (fortgeführte Aktivitäten) (nach Erst-/Nachdotierung von Planvermögen) -2.111 -338 Cash Flow aus der Investitionstätigkeit (nicht fortgeführte Aktivitäten) (nach Erst-/Nachdotierung von Planvermögen) -47 -74 Cash Flow aus der Investitionstätigkeit (nach Erst-/Nachdotierung von Planvermögen) -2.158 -412 Cash Flow aus der Finanzierungstätigkeit (fortgeführte Aktivitäten) 816 -1.178 Cash Flow aus der Finanzierungstätigkeit (nicht fortgeführte Aktivitäten) 193 150 Cash Flow aus der Finanzierungstätigkeit 1.009 -1.028 Veränderung der flüssigen Mittel 490 173 Flüssige Mittel zum Ende des Berichtszeitraums laut Konzernbilanz 1.558 1.552

1 Angepasste Vorjahreswerte wegen Darstellung der Vertriebsaktivitäten der npower als discontinued operation (nicht fortgeführte Aktivitäten) gemäß IFRS 5

Keine wesentliche Der Geschäftsausblick von innogy hat sich seit dem Verschlechterung der 31. Dezember 2017 nicht wesentlich negativ verändert. Aussichten des

Emittenten

Signifikante Nicht anwendbar. Seit dem 30. September 2018 hat es keine Veränderungen in der signifikanten Änderungen der Finanz- bzw. Handelsposition von Finanz- bzw. innogy gegeben." Handelsposition

10. "Punkt B.13" under the heading "GERMAN TRANSLATION OF THE SUMMARY – ZUSAMMENFASSUNG – Abschnitt B – [Emittentin] [Garantin]" on pages 25-26 of the Supplemented Prospectus shall be replaced by the following:

"B.13 Letzte Ereignisse Geplanter Erwerb durch E.ON von RWEs Anteil und weiterer Anteile an innogy. Im März 2018 haben RWE AG ("RWE") und E.ON SE ("E.ON") erklärt, einen Vertrag abgeschlossen zu haben, unter dem E.ON beabsichtigt, RWE‘s Beteiligung an innogy i.H.v. ca. 76,79 % als Paket zu erwerben, gefolgt von einem umfangreichen Tausch von Geschäftsaktivitäten und Beteiligungen zwischen RWE, E.ON und innogy. In diesem Zusammenhang hat eine mittelbare Tochtergesellschaft von E.ON den Aktionären von innogy am 27. April 2018 ein freiwilliges öffentliches Bar- Übernahmeangebot unterbreitet, das für ca. 9,41 % der innogy- Aktien angenommen wurde. Der Vollzug sowohl des Übernahmeangebots als auch der Transaktion zwischen RWE und E.ON unterliegen jeweils einer Vielzahl von Bedingungen. Spätester Vollzugstermin für das Übernahmeangebot ist nach Angaben von E.ON der 13. Januar 2020. Triton Knoll Offshore Windpark erreicht Financial Close. innogy findet neue Partner für ihren Offshore-Windpark Triton Knoll und erzielt die Vereinbarung über Projektfinanzierung zur 15

Bereitstellung des erforderlichen Fremdkapitals. innogy verkauft 41 % seines Offshore-Windparks Triton Knoll an J-Power (25 %) und Kansai Electric Power (16 %). innogy hält derzeit 59 %. Das geplante Gesamtinvestitionsvolumen beläuft sich auf rund 2 Mrd. £, davon rund 1,75 Mrd. £ Fremdkapital, die von einem Konsortium aus 15 Banken bereitgestellt werden. Erfolgeicher Abschluss einer Onshore-Wind Transaktion in den USA. Durch die im Dezember 2017 angekündigte und nun erfolgte Übernahme des US-Onshore-Entwicklungsgeschäfts von EverPower Wind Holding schließt innogy die Akquisition einer Projektpipeline in den USA erfolgreich ab. Die Projektpipeline besteht aus Onshore-Windentwicklungsprojekten von insgesamt mehr als 2,0 GW. Zustimmung erfolgte durch das Committee on Foreign Investment in the United States (CFIUS), einem ressortübergreifenden Ausschuss der US-Regierung zur Kontrolle von Auslandsinvestitionen, sowie durch staatliche Behörden. innogy und SSE beenden Verhandlungen zur geplanten Transaktion in Großbritannien. Die innogy SE und die SSE plc haben die Verhandlungen über kommerzielle Anpassungen der im November 2017 bekannt gegebenen Transaktion zur Zusammenlegung ihrer Vertriebsaktivitäten in Großbritannien ergebnislos beendet. Grund hierfür ist, dass die beiden Parteien keine einvernehmliche Lösung hinsichtlich der notwendigen direkten und indirekten Finanzierungsbeiträge finden konnten. Aufsichtsrat entscheidet über Personalthemen. Uwe Tigges wurde zum Vorstandsvorsitzenden bestellt. Arno Hahn wurde als neuer Personalvorstand und Arbeitsdirektor bestellt. Die Verträge der Vorstandsmitglieder Hildegard Müller, Hans Bünting und Martin Herrmann wurden bis 31. März 2022 verlängert. innogy ermöglicht Due Diligence ihrer Geschäfte in Tschechien. Nach Interessensbekundungen an bestimmten Geschäftsaktivitäten ermöglicht innogy Due Diligence (sorgfältige Prüfung) ihrer Geschäfte in Tschechien. innogy zahlt Dividende von 1,60 € je Aktie für das Geschäftsjahr 2017. Am 24. April 2018 genehmigt die Hauptversammlung von innogy SE die Dividende von 1,60 € je Aktie für das Geschäftsjahr 2017. Die Zahlung der Dividende erflogte am 27. April 2018. innogy bekräftigt Zielvorgaben für finanzielle Disziplin und strategische Ausrichtung. Zu Jahresbeginn 2018 hat innogy ihre Zielvorgaben für die finanzielle Disziplin als wichtigen Baustein zur Umsetzung ihrer Wachstumsstrategie bestätigt. Ein Verschuldungsfaktor von rund 4,0 (Verhältnis Nettoschulden zum bereinigten EBITDA) und eine Ausschüttungsquote von 70% bis 80% des bereinigten Nettoergebnisses sind weiterhin die maßgeblichen Finanzkennziffern. innogy ist sich der Bedeutung bewusst, die der Kapitalmarkt einer stabilen und attraktiven Dividende sowie einer angemessenen Verschuldung beimisst. Der Schwerpunkt des Investitionsprogramms in den Jahren 2018 bis 2020 liegt 16

weiterhin auf dem Kerngeschäft von innogy in den Unternehmensbereichen Erneuerbare Energien, Netz & Infrastruktur und Vertrieb. Darüber hinaus werden Wachstumsmöglichkeiten in den Geschäftsfeldern Elektromibilität, Breitband und Solar gesehen. Alle Wachstumschancen werden vorbehaltlich der strengen Renditevorgaben des Unternehmens und der zur Verfügung stehenden finanziellen Mittel wahrgenommen. Die Finanzierung von Wachstumsprojekten wird fortlaufend überprüft und dabei alle Optionen im Hinblick auf die Eigentümer- und die Finanzierungsstruktur bewertet, um den größtmöglichen Wert für das Unternehmen und die Aktionäre zu erreichen. Anleihe mit einem Gesamtvolumen von € 1 Mrd. erfolgreich platziert. Ende Januar 2018 hat die innogy Finance B.V. unter der Garantie der innogy SE eine Anleihe begeben. Die Laufzeit beträgt 11,5 Jahre. Bei einem jährlichen Kupon von 1,5% und einem Ausgabekurs von 98,785% beträgt die Rendite 1,617% per anno. Die Emission war mehrfach überzeichnet. Der Zufluss aus der Emission dient der Refinanzierung von fälligen Verbindlichkeiten und allgemeinen Geschäftsaktivitäten. Reallokation der Erlöse aus der grünen Anleihe. Am 10. Oktober 2018 wurden Erlöse aus innogy’s erster grüner Anleihe (im Oktober 2017 mit einem Nominalwert von 850 Mio. € begeben) reallokiert und Netzprojekten zugeordnet; Sustainalytics, eine Öko-Agentur, bestätigt fortlaufende Gültigkeit von innogy’s Rahmenplan grüner Anleihen und der Eignung von Projekten im Netzgeschäft. Ausbau des Solargeschäfts in Australien. innogy hat im Februar 2018 einen Vertrag mit Overland Sun Farming, einem der führenden australischen Projektentwickler, über den Erwerb zweier Freiflächen-Solarentwicklungsprojekte in Australien geschlossen und somit den Aufbau ihres werthaltigen Solargeschäfts vorangetrieben. Die beiden Projekte "Limondale" und "Hillston" verfügen zusammen über eine Kapazität von über 460 MW und sollen in New South Wales entstehen. Die Projektgesellschaften sollen im zweiten Quartal dieses Jahres übertragen werden. Der Vollzug der Transaktion steht noch unter einzelnen Vorbehalten, darunter die Genehmigung des Foreign Investment Review Board (FIRB), einer australischen Regierungsstelle. innogy übernimmt weiteren Gas-Versorger in Kroatien. Mit dem Erwerb der Netz- und Vertriebsgesellschaft Montcogim- Plinara mit Sitz in Sveta Nedelja baut innogy im Januar 2018 ihren Marktanteil auf dem kroatischen Gasmarkt weiter aus. Montcogim-Plinara erzielte 2016 einen Umsatz von rund € 11,4 Mio. und hat 21 Mitarbeiter. Das Unternehmen ist in sechs Städten in der Region Zagreb tätig und besitzt ein rund 375 km langes Gasnetz, das eines der Modernsten in Kroatien ist. Erwerb Regionetz GmbH. Anfang Januar 2018 hat innogy aufgrund einer vertraglichen Vereinbarung die Beherrschung über einen Teilbetrieb "Netze" der Stadtwerke Aachen AG ("STAWAG") erlangt und wird diesen ab dem ersten Quartal 2018 in ihren Konzernabschluss einbeziehen." 17

11. "Punkt B.17" under the heading " GERMAN TRANSLATION OF THE SUMMARY – ZUSAMMENFASSUNG – Abschnitt B – [Emittentin] [Garantin]" on page 27 of the Supplemented Prospectus shall be replaced by the following:

"B.17 Kreditratings der innogy wird derzeit von Fitch1,3 mit BBB+2 und die von innogy Emittentin oder ihrer ausgegebenen nicht nachrangigen Anleihen mit A-2 mit Schuldtitel "stabilem" Ausblick bewertet. Von Standard & Poor's3,1 werden innogy und die nicht nachrangigen Anleihen von innogy mit BBB2 mit "stabilem" Ausblick eingestuft und von Moody's1,3 erhält innogy ein Baa22 Rating mit "stabilem" Ausblick für die nicht nachrangigen Anleihen. Damit bewegt sich das Rating unverändert im Bereich "Investment Grade". Die Bonitätsnoten für kurzfristige innogy-Anleihen lauten entsprechend F22, A−22 und P-22. [Den Schuldverschreibungen wurde das Rating [] von [] erteilt.]

1 Die Europäische Wertpapier und Marktaufsichtsbehörde veröffentlicht auf ihrer Webseite (http://www.esma.europa.eu/ page/List-registered-and-certified-CRAs) ein Verzeichnis der nach der Ratingagentur-Verordnung registrierten Ratingagenturen. Dieses Verzeichnis wird innerhalb von fünf Werktagen nach Annahme eines Beschlusses gemäß Artikel 16, 17 oder 20 der Ratingagentur-Verordnung aktualisiert. Die Europäische Kommission veröffentlicht das aktualisierte Verzeichnis im Amtsblatt der Europäischen Union innerhalb von 30 Tagen nach der Aktualisierung. 2 Ein Kreditrating ist eine Einschätzung der Kreditwürdigkeit einer Rechtsperson und informiert den Anleger daher über die Wahrscheinlichkeit mit der die Rechtsperson in der Lage ist, angelegtes Kapital zurückzuzahlen. Es ist keine Empfehlung Wertpapiere zu kaufen, zu verkaufen oder zu halten und kann jederzeit durch die Ratingagentur geändert oder zurückgenommen werden 3 Fitch, Moody's und Standard & Poor's haben ihren Sitz in der Europäischen Gemeinschaft und sind gemäß der Ratingagentur-Verordnung registriert."

12. "Punkt B.12" under the heading "GERMAN TRANSLATION OF THE SUMMARY – ZUSAMMENFASSUNG – Abschnitt B – Emittentin" on pages 28-29 of the Supplemented Prospectus shall be replaced by the following:

"B.12 Ausgewählte wesentliche historische Finanzinformationen

Ausgewählte Informationen aus der Bilanz (vor Gewinnverwendung)

(ungeprüft) (geprüftt) (geprüft) 30. Juni 2018 31. Dez. 20171 31. Dez. 20162 €'000 €'000€ Langfristiges Vermögen 11.171.308 10.165.428 9.705.556 Kurzfristiges Vermögen 2.384.988 1.411.333 533.543 Aktiva 13.556.296 11.576.761 10.239.099

Eigenkapital (den Aktionären der Muttergesellschaft zurechenbar) 14.987 13.809 13.583 Langfristige Schulden 11.171.308 10.165.428 9.705.556 Kurzfristige Schulden 2.370.001 1.397.524 519.960 Passiva 13.556.296 11.576.761 10.239.099

Ausgewählte Informationen aus der GuV-Rechnung

(ungeprüft) (ungeprüft) Jan – Jun Jan – Jun 2018 2017

€'000 €'000

Zinseinkommen 278.647 262.459 Zinsaufwand -272.357 -256.667 Gemeinkosten -4.720 -4.816 Betriebsergebnis 1.570 976 Nettoergebnis nach Steuern 1.178 732 (geprüft) (geprüft) 2017 20162 ______

€'000 €'000

Zinseinkommen 544.030 551.495 Zinsaufwand -532.340 -539.774 Gemeinkosten -9.388 -9.690 Betriebsergebnis 2.302 2.031 Nettoergebnis nach Steuern 1.726 1.523

(geprüft) (geprüft) Ausgewählte Informationen aus der 2017 20162 Kapitalflussrechnung ______

€'000 €'000

Cash Flow aus laufender Geschäftstätigkeit 1.291 1.758 Cash Flow aus der Investitionstätigkeit - - Cash Flow aus der Finanzierungstätigkeit -1.500 -1.400 Veränderung der flüssigen Mittel -241 326

(ungeprüft) (ungeprüft) Jan – Jun Jan – Jun 2018 2017

€'000 €'000

Cash Flow aus laufender Geschäftstätigkeit 949 310 Cash Flow aus der Investitionstätigkeit - - Cash Flow aus der Finanzierungstätigkeit - - Veränderung der flüssigen Mittel 935 416

1 Die oben dargestellten Zahlen für 2017 sind den Finanzausweis für das erste Halbjahr 2018 der innogy Finance B.V. entnommen und weichen von den geprüften Finanzausweisen 2017 der innogy Finance B.V. ab. Sie wurden als Vergleichszahlen für das Finanzjahr 2017 unter Berücksichtigung von Änderungen der Bilanzierungsvorschriften berechnet. Der Anhang zu dem Finanzausweis für das erste Halbjahr 2018, der in den Prospekt per Verweis einbezogen ist, stellt detailliert dar, wie sich die Zahlen herleiten. Die Vergleichszahlen aus dem Finanzausweis für das erste Halbjahr 2018 sind nicht geprüft.

2 Die oben dargestellten Zahlen für 2016 sind den Finanzausweisen 2017 der innogy Finance B.V. entnommen und weichen von den geprüften Finanzausweisen 2016 der innogy Finance B.V. ab. Sie wurden als Vergleichszahlen für das Finanzjahr 2017 unter Berücksichtigung der Verschmelzung der innogy Finance II B.V. auf die innogy Finance B.V. in 2017 berechnet. Der Anhang zu den Finanzausweisen 2017, der in den Prospekt per Verweis einbezogen ist, stellt detailliert dar, wie sich die Zahlen herleiten.

Keine wesentliche Der Geschäftsausblick von innogy Finance hat sich seit dem Verschlechterung der 31. Dezember 2017 nicht wesentlich negativ verändert. Aussichten des Emittenten

Signifikante Nicht anwendbar. Seit dem 30. Juni 2018 hat es keine Veränderungen in der signifikanten Änderungen der Finanz- bzw. Handelsposition von Finanz- bzw. innogy Finance gegeben." Handelsposition

13. In "Punkt B.13" under the heading "GERMAN TRANSLATION OF THE SUMMARY – ZUSAMMENFASSUNG – Abschnitt B – Emittentin" on page 29 of the Supplemented Prospectus, the following shall be inserted:

"Aufstockung einer Anleihe im Juli Anfang Juli stockte innogy Finance die Anleihe mit einer Laufzeit von 4,5 Jahren, welche im Mai 2018 mit einem Volumen von 500 Mio. EUR und einem jährlichen Kupon von 0,75% begeben wurde, um 250 Mio. € auf.

Reallokation der Erlöse aus der grünen Anleihe Im Oktober 2018 wurden die Erlöse aus der ersten grünen Anleihe der innogy Finance B.V. (im Oktober 2017 mit einem Nominalwert von 850 Mio. € begeben) reallokiert und Netzprojekten zugeordnet; Sustainalytics, eine Öko-Agentur, bestätigt die fortlaufende Gültigkeit von innogy’s Rahmenplan für grüne Anleihen und der Eignung der Projekte im Netzgeschäft."

14. "Punkt B.17" under the heading "GERMAN TRANSLATION OF THE SUMMARY – ZUSAMMENFASSUNG – Abschnitt B – Emittentin" on page 30 of the Supplemented Prospectus shall be replaced by the following:

"B.17 Kreditratings der innogy Finance wird derzeit von Fitch1,3 mit BBB+2 mit "stabilem" Emittentin oder ihrer Ausblick, von Standard & Poor's1,3 mit BBB2 und "stabilem" Schuldtitel Ausblick und von Moody's1,3 mit Baa22 und "stabilem" Ausblick eingestuft. Die von innogy Finance ausgegebenen nicht nachrangigen Anleihen werden derzeit von Fitch2 mit A-2 mit "stabilem" Ausblick, von Standard & Poor's1,3 mit BBB2 mit "stabilem" Ausblick und von Moody's1,3 mit Baa22 und "stabilem" Ausblick bewertet. Damit bewegt sich das Rating unverändert im 20

Bereich "Investment Grade". Die Bonitätsnoten für kurzfristige innogy Finance-Anleihen lauten F22, A−22 und P-22. [Den Schuldverschreibungen wurde das Rating [] von [] erteilt.]

1 Die Europäische Wertpapier und Marktaufsichtsbehörde veröffentlicht auf ihrer Webseite (http://www.esma.europa.eu/page/Listregistered-and-certified-CRAs) ein Verzeichnis der nach der Ratingagentur- Verordnung registrierten Ratingagenturen. Dieses Verzeichnis wird innerhalb von fünf Werktagen nach Annahme eines Beschlusses gemäß Artikel 16, 17 oder 20 der Ratingagentur-Verordnung aktualisiert. Die Europäische Kommission veröffentlicht das aktualisierte Verzeichnis im Amtsblatt der Europäischen Union innerhalb von 30 Tagen nach der Aktualisierung. 2 Ein Kreditrating ist eine Einschätzung der Kreditwürdigkeit einer Rechtsperson und informiert den Anleger daher über die Wahrscheinlichkeit mit der die Rechtsperson in der Lage ist, angelegtes Kapital zurückzuzahlen. Es ist keine Empfehlung Wertpapiere zu kaufen, zu verkaufen oder zu halten und kann jederzeit durch die Ratingagentur geändert oder zurückgenommen werden. 3 Fitch, Moody's und Standard & Poor's haben ihren Sitz in der Europäischen Gemeinschaft und sind gemäß der Ratingagentur- Verordnung registriert."

II. Replacement information pertaining to the section "RISK FACTORS"

1. The section "RISK FACTORS REGARDING INNOGY SE AND INNOGY GROUP - Risks arising in the context of the intended acquisition by E.ON of RWE’s stake in innogy" on pages 42 – 43 of the Supplemented Prospectus shall be replaced by the following:

"innogy is exposed to risks arising in the context of the intended block trade acquisition by E.ON of RWE’s approx. 76.79% stake in innogy and additional share acquisitions by E.ON by way of E.ON's voluntary takeover offer for the innogy shares by innogy's minority shareholders (the block trade and the tender offer together the "Potential Transaction" - for further details of the Potential Transaction see "innogy as Issuer and Guarantor and innogy Group – Recent – Events – Intended acquisition by E.ON of RWE’s stake and other shares in innogy" below) or otherwise. The Potential Transaction and the change of control associated therewith as well as an integration of the innogy group into the E.ON group may have a negative impact on innogy’s operating results, business and financial condition. Such risks include in particular:

• The earnings position and business and financial condition of innogy and its position within the E.ON group following the completion of the Potential Transaction is presently not clear. In particular, the E.ON group may undertake certain integration measures, including the conclusion of a domination and profit and loss transfer agreement, a squeeze out of minority shareholders and/or a merger of innogy into a company of the E.ON group or a newly established company, and it is not certain that innogy will continue to exist as a separate and/or autonomous business unit. The potential transaction may therefore have adverse effects on the ability of innogy to obtain financing on favorable terms and conditions.

• Currently there is no certainty about the future group structure of E.ON after the Potential Transaction. No assurance can be given that after the Proposed Transaction innogy debt is going to rank pari passu with all outstanding E.ON debt.

• The corporate rating of E.ON may deteriorate due to the Potential Transaction and become lower than the present rating of innogy SE and innogy Finance B.V. The transfer of innogy to the E.ON- group may result in a downgrade of the rating of the debt of innogy. Specifically the current innogy rating will be "constrained" by E.ON’s rating before transfer / integration but after closing of the Potential Transaction as S&P put it.

• As E.ON is currently a major competitor, the discussion or consummation of the Potential Transaction, may have adverse effects on the ability of innogy to maintain its business relationships, in particular with partners (including, but not limited to municipalities), customers and suppliers. Particularly, as a consequence of the Potential Transaction and the intended exchange of business activities and participations between RWE, E.ON and innogy, innogy could lose its positive "green" image.

• The consummation of the Potential Transaction may constitute a change of control under certain contracts to which innogy SE or group companies are a party to (including but not limited to material funding agreements, shareholder agreements and or concession agreements) and as a result, subject to certain additional conditions, innogy’s counterparties to such contracts may be permitted to terminate such contracts or exercise certain other rights under such contracts specifically with negative financial consequences for innogy SE. Holders of notes issued or guaranteed by innogy provide for an option to require innogy to redeem their notes upon a change of control of innogy SE if this results in a rating downgrade to sub investment grade. If all the conditions to such option are fulfilled and the holders exercise such option, a large portion of innogy’s financing debt may become due and payable. innogy may not be able to refinance such debt on favourable terms and conditions, or innogy may otherwise lose business relationships important to it. Generally, the discussion or consummation of the Potential Transaction may have adverse effects on innogy’s ability to finance itself and its business activities. innogy may be required to dispose of assets or participations to avoid negative consequences under change of control provisions.

• The consummation of the Potential Transaction may have adverse tax effects for innogy (including, but not limited to the forfeiture of existing loss carryforwards and carryforwards under the interest barrier rule (Zinsschrankenvortrag)).

• The discussion or consummation of the Potential Transaction, in particular the uncertainty caused by E.ON's announcement to cut up to 5,000 jobs, may have adverse effects on innogy’s ability to retain or hire key personnel or other employees. As a consequence, there may be adverse effects on innogy's business.

• The negotiation, preparation and implementation of the Potential Transaction and, if applicable, the integration of innogy group into the E.ON group may divert management time from ongoing business operations and the analysis of other strategic options.

• The regulatory clearance of the Potential Transaction may require divestments of certain parts of innogy’s businesses, which divestments might only be implemented on unfavourable terms and conditions.

• Should the Potential Transaction be cancelled and not be consummated, innogy may have spent significant financial and non-financial resources without any benefit to its business.

If any of the above mentioned risks materialises this could have a material adverse effect on the business, results of operations and financial position of innogy and/or innogy Group."

2. The second paragraph of the section "RISK FACTORS regarding innogy FINANCE B.V." on page 43 of the Supplemented Prospectus shall be replaced by the following:

"The senior, unsecured bonds issued by innogy Finance are currently rated A-1 by Fitch Ratings Ltd. ("Fitch")2,3 with stable outlook, and BBB1 by Standard & Poor's Credit Market Services Europe Limited ("Standard & Poor's")3,2 with stable outlook and Baa21 by Moody's Investors Service Ltd ("Moody's")2,3 with stable outlook. The credit ratings are F21, A−21 and P-21, respectively, for short-term innogy Finance bonds (for more information with respect to the definitions and a possible impact of a rating decrease, see "RISK FACTORS REGARDING INNOGY SE AND INNOGY GROUP – Financial risks" above). ______1 A credit rating assesses the creditworthiness of an entity and informs an investor therefore about the probability of the entity being able to redeem invested capital. It is not a recommendation to buy, sell or hold securities and may be revised or withdrawn by the rating agency at any time. 2 The European Securities and Markets Authority publishes on its website (http://www.esma.europa.eu/page/Listregistered- and-certified-CRAs) a list of credit rating agencies registered in accordance with the CRA Regulation. That list is updated within five working days following the adoption of a decision under Article 16, 17 or 20 CRA Regulation. The European Commission shall publish that updated list in the Official Journal of the European Union within 30 days following such update. 3 Fitch, Moody's and Standard & Poor's are established in the European Community and a reregistered under the CRA Regulation."

IV. Amendments pertaining to the section "INNOGY SE AS ISSUER AND GUARANTOR AND INNOGY GROUP"

1. The section "Selected Financial Information" on pages 47-48 of the Supplemented Prospectus shall be replaced by the following:

"Selected Financial Information The selected financial information below was extracted without adjustments to the figures from the audited consolidated financial statements of the innogy Group as at and for the year ended 31 December 2017 and the reviewed condensed consolidated interim financial statements of innogy Group for the period from 1 January 2018 to 30 September 2018 prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union ("EU").

Selected Balance Sheet information (unaudited) (audited) (audited)

30 Sep 31 Dec 31 Dec 2018 2017 2016 € in million Non-current assets 37,097 36,502 36,239 Current assets 13,621 10,312 10,651 Assets 50,718 46,814 46,890

Equity 11,197 11,252 10,667 Non-current liabilities 26,091 22,913 24,442 Current liabilities 13,430 12,649 11,781 Equity and liabilities 50,718 46,814 46,890

Selected Income Statement information

(audited)

(unaudited)

Jan – Sep Jan – Sep 2018 20171 € in million Revenue (continued operations) 22,408 24,811 Income before tax (continued operations) 1,513 1,760 Income (continued operations) 1,057 1,315 23

(audited)

2017 2016 € in million Income (discontinued operations) (571) (662) Income 486 653 Net income / income attributable to innogy SE shareholders 228 389 Basic and diluted earnings per common and preferred share in € 0.41 0.70

Selected Cash Flow Statement information

(audited)

(unaudited)

Jan – Sep Jan – Sep 2018 20171 € in million Cash flows from operating activities (continued operations) 1,782 1,672 Cash flows from operating activities (discontinued operations) (149) (69) Cash flows from operating activities 1,633 1,603 Cash flows from investing activities (continued operations) (after initial/subsequent transfer to plan assets) (2,111) (338) Cash flows from investing activities (discontinued operations) (47) (74) Cash flows from investing activities (after initial/subsequent transfer to plan assets) (2,158) (412) Cash flows from financing activities (continued operations) 816 (1,178) Cash flows from financing activities (discontinued operations) 193 150 Cash flows from financing activities 1,009 (1,028) Net change in cash and cash equivalents 490 173 Cash and cash equivalents at end of the reporting period as per the consolidated balance sheet 1,558 1,552

1 Prior-year figures adjusted due to the presentation of the retail activities of npower as a discontinued operation pursuant to IFRS 5"

2. The chart in the section "Organisational Structure" and the first paragraph following thereafter on pages 48-49 of the Supplemented Prospectus shall be replaced by the following:

innogy Group divisions The innogy Group is divided into three functionally distinct divisions: Renewables, Grid & Infrastructure and Retail. When considering also geographical aspects, it can be distinguished between six operating segments. As the group's head office it concentrates on group-managing tasks. Since the third quarter of 2018, the retail operations of npower and thus the segment Retail United Kingdom are reported as discontinued operations according to IFRS 5. After stopping the negotiations with SSE in December 2018 the Retail UK segment will be accounted for as continued operations again in the future."

3. The paragraphs under the heading "Organisational Structure – innogy Group divisions – Retail." on page 49 of the Supplemented Prospectus shall be replaced by the following:

"Retail: This unit incorporates innogy's energy retail activities which, in addition to the sale of electricity and gas, include the provision of innovative energy solutions to meet customer demands. Geographically, it is distinguished among the three following operating segments: Retail Germany, Retail Netherlands / Belgium and Retail Eastern Europe. The last segment in this list comprises activities in the Czech Republic, Slovakia, Hungary, Poland, Slovenia, Croatia and Romania. There is also a small share in power generation of individual retail companies in Germany and abroad. innogy presents certain groupwide activities and consolidation effects outside the divisions in the Corporate /other line item. This also contains the holding activities of innogy SE and innogy's internal service providers. Development of new business and innovations is also included in this item. Effective from 1 January 2018 the eMobility activities were re- classified, which are now reported outside of the Retail division in the ‘Corporate/New Businesses’ line item."

4. The section "Recent Events – Intended acquisition by E.ON of RWE's stake in innogy" on page 49 of the Supplemented Prospectus shall be replaced by the following:

"Intended acquisition by E.ON of RWE's stake and other shares in innogy In March 2018, RWE AG ("RWE") and E.ON SE ("E.ON") have announced to have entered into an agreement under which E.ON intends to acquire RWE's stake in innogy to be followed by a wide-ranging exchange of business activities and participations between RWE, E.ON and innogy. In particular, according to E.ON, it was agreed that RWE will sell and transfer its approx. 76.79 percent stake in innogy to E.ON via block trade for, inter alia: (i) a shareholding in E.ON equal to 16.67 percent of outstanding share capital resulting from a capital increase by E.ON; (ii) the E.ON group's minority stakes in the nuclear power plants Lippe-Ems and Gundremmingen and further assets serving the purpose of operating and decommissioning these power plants including the related asset retirement obligations as well as similar obligations; (iii) E.ON’s renewables business area with the exception of the onshore wind and solar activities in Germany and in Poland held by E.DIS AG and a stake of 20% (of overall 50.1%) in the Rampion Offshore Wind Farm in Great Britain; (iv) innogy’s renewables division; (v) innogy’s German and 25

Czech gas storage business; and (vi) innogy's direct and indirect shareholding in KELAG-Kärntner Elektrizitäts-Aktiengesellschaft. In addition, RWE will pay to E.ON €1.5 billion in cash. Furthermore, E.ON, through an indirect subsidiary, has launched a voluntary public takeover offer in cash to shareholders of innogy. E.ON's bidding subsidiary announced that at the end of the additional acceptance period of the voluntary public takeover offer on 25 July 2018 the public takeover offer had been accepted for approx. 9.41 percent of the innogy shares. Together with the approx. 76.79 percent of the innogy shares held by RWE this amounts to approx. 86.21 percent of all innogy shares. The closing of the Potential Transaction is still subject to conditions, including, but not limited to, approval and clearance by the competent regulatory authorities. The latest date specified by E.ON for the completion of the takeover offer is 13 January 2020. E.ON has reserved the right to acquire additional innogy shares. Potential integration measures by E.ON following closing of the transaction may include the conclusion of a domination and profit and loss transfer agreement, a squeeze out of minority shareholders and/or a merger of innogy into a company of the E.ON group or a newly established company and will take additional time. On 18 July 2018, innogy entered into two Framework Agreements, one with RWE and one with E.ON, on the planned integration of innogy into E.ON and the planned integration of innogy's renewables business into RWE. Based on the Framework Agreements the planning of the integrations of innogy’s businesses into E.ON and RWE are conducted by means of joint collaborative processes. Until the transaction completes, E.ON, RWE and innogy remain separate businesses and competitors. After conclusion of the Potential Transaction, it is expected that innogy (after disposal of its renewables and gas storage business to RWE) will be a fully integrated part of E.ON group which intends to exclusively focus on operating energy distribution networks and providing services to retail customers, while RWE intends to become one of Europe’s largest producers of green energy."

5. After the last paragraph of the section "Recent Events – Intended acquisition by E.ON of RWE's stake in innogy" on page 49 of the Supplemented Prospectus, the following shall be inserted:

"Triton Knoll Offshore Wind Project achieves Financial Close innogy finds new partners for its Triton Knoll offshore wind farm and achieves Financial Close with all of required debt funding fully committed by the project lenders. innogy sells 41% of its Triton Knoll offshore wind farm to J-Power (25%) and to Kansai Electric Power (16%); innogy currently retains a stake of 59%. Total planned investment volume amounts to approximately £2 billion of which around £1.75 billion of debt facilities are provided by a consortium of 15 banks. innogy successfully closes onshore wind transaction in the US innogy successfully closes onshore wind transaction in the US by acquiring EverPower Wind Holdings’ US on-shore wind development business as announced in December 2017. The project pipeline consists of onshore wind development projects exceeding in total 2.0 GW. Approval by the US government’s Committee on Foreign Investment in the United States (CFIUS) and consents from authorities at state level have been received. innogy and SSE stop negotiations on the planned transaction in Great Britain innogy SE and SSE plc stopped the negotiations on commercial adjustments for combining their retail businesses in Great Britain as announced in November 2017. The reason for this is that the two parties could not agree on a joint solution for the necessary direct and indirect financial contributions."

6. The section "Recent Events – Submission of official registration documents for the npower/SSE merger to the Competition and Markets Authority, CMA." on page 50 of the Supplemented Prospectus shall be deleted.

7. After the section "Recent Events – Successful bond issue with a total volume of € 1 billion " on page 50 of the Supplemented Prospectus, the following shall be inserted:

"Reallocation of Green Bond proceeds On 10 October 2018 proceeds from innogy’s inaugural Green Bond (issued in October 2017 with a nominal value of €850 million) were reallocated to grid projects. Sustainalytics, an ESG agency, confirmed the continued validity of innogy’s Green Bond Framework and the eligibility of projects in the grid business."

8. After the existing information in the section "Financial Information concerning innogy's Assets and Liabilities, Financial Position and Profits and Losses - Historical Financial Information" on page 64 of the Supplemented Prospectus, the following shall be inserted:

"The reviewed condensed consolidated interim financial statements of innogy Group for the period from 1 January 2018 to 30 September 2018 contained in innogy's quarterly report January to September 2018 on pages 13 to 18, are incorporated by reference into this Prospectus."

9. In the section "Financial Information concerning innogy's Assets and Liabilities, Financial Position and Profits and Losses – Legal and Arbitration Proceedings" on page 65 of the Supplemented Prospectus, the fourth bullet point shall be replaced by the following:

• "At the end of April 2018, the state competition authority of Lower Saxony (Niedersachsen) investigated the basic supply prices (Grundversorgung) for electricity and gas in Lower Saxony (Niedersachsen). It has initiated proceedings against several energy suppliers, i.a. innogy SE, for allegedly excessive electricity and gas prices in Lower Saxony (Niedersachsen). innogy has made commitments (Verpflichtungszusagen) in the proceedings with the competition authority. The proceedings are now finished for this reasons. • On 31 December 2018 ELMŰ Hálózati Kft. and ÉMÁSZ Hálózati Kft. issued a payment notice to the minister responsible for overseeing state property, representing the Hungarian State and to the Hungarian Energy Authority requesting payment in the amount of approximately 34.7 bn HUF for damages caused in connection with measures adopted by the Hungarian State in relation to network tariffs infringing European law. In this notice the legal basis of the payment request was explained, asking the addressees to discuss an amicable solution to fix this issue. No response has been received so far."

10. The section "Financial Information concerning innogy's Assets and Liabilities, Financial Position and Profits and Losses - Significant change in innogy's financial or trading position" on page 65 of the Supplemented Prospectus shall be replaced by the following:

"There has been no significant change in the financial or trading position of innogy since 30 September 2018."

11. The first two paragraphs under section "Ratings" on pages 65-66 of the Supplemented Prospectus shall be replaced by the following:

"innogy is currently rated BBB+1 and the senior unsecured bonds issued by innogy are currently rated A-1 with stable outlook by Fitch Ratings Ltd. ("Fitch")2,3, BBB1 with stable outlook by Standard & Poor's Credit Market Services Europe Limited ("Standard & Poor's")3,2 and Baa21 by Moody's Investors Services Ltd

("Moody's")2,3 with stable outlook. The credit ratings are F21, A−21 and P-21 , respectively, for short-term innogy bonds. Under the definition of Fitch long-term rating scale, a rating of 'BBB+' indicates that expectations of default risk are currently low. The capacity for payment of financial commitments is considered adequate but adverse business or economic conditions are more likely to impair this capacity. Obligations that are rated 'A-' denote expectations of low default risk. The capacity for payment of financial commitments is considered strong. This capacity may, nevertheless, be more vulnerable to adverse business or economic conditions than is the case for higher ratings. Under the definition of Fitch short-term rating scale, issuers rated 'F2' have a good intrinsic capacity for timely payment of financial commitments. A stable outlook with Fitch indicates a low likelihood of a rating change in the medium term."

V. Replacement and supplemental information pertaining to the section "INNOGY FINANCE B.V. AS ISSUER"

1. The section "Selected Financial Information" on pages 68-69 of the Supplemented Prospectus shall be replaced by the following:

"Selected Balance Sheet information (before appropriation of result)

(unaudited) (audited) (audited)

30 June 2018 31 Dec 20171 31 Dec 20162 €'000 €'000€ Non-current assets 11,171,308 10,165,428 9,705,556 Current assets 2,384,988 1,411,333 533,543 Total Assets 13,556,296 11,576,761 10,239,099

Equity attributable to equity holders of the parent 14,987 13,809 13,583 Non-current liabilities 11,171,308 10,165,428 9,705,556 Current liabilities 2.370,001 1,397,524 519,960 Total equity and liabilities 13.556.296 11,576,761 10,239,099

Selected Income Statement information (audited) (audited) 2017 20162 ______€'000 €'000

Interest income 544,030 551,495 Interest expenses (532,340) (539,774) General and administrative expenses (9,388) (9,690) Operating income 2,302 2,031 Net result after taxation 1,726 1,523

(unaudited) (unaudited) Jan – Jun Jan – Jun 2018 2017

€'000 €'000

Interest income 278,647 262,459 Interest expenses (272,357) (256,667) General and administrative expenses (4,720) (4,816) Operating income 1,570 976 Net result after taxation 1,178 732

Selected Cash Flow Statement information (audited)

(audited) (audited) 2017 20162

€'000 €'000

(unaudited) (unaudited) Jan – Jun Jan – Jun 2018 2017

€'000 €'000

Cash flows from operating activities 949 310 Cash flows from investment activities - - Cash flows from financing activities - - Net increase/(decrease) in cash and cash 935 416 equivalents

2 The above shown figures for 2016 are taken from the financial statement 2017 of innogy Finance B.V. and differ from the audited financial statement 2016 of innogy Finance B.V. They were calculated as comparatives for the fiscal year 2017 taking the merger of innogy Finance II B.V. into innogy Finance B.V. in 2017 into account. The notes of the financial statement 2017 which are incorporated by reference into the Prospectus reveal how the figures are derived in detail."

2. The paragraph under the heading "Financial Information concerning innogy Finance's Assets and Liabilities, Financial Position and Profits and Losses – Historical Financial Information" on 29

page 70 of the Supplemented Prospectus shall be supplemented by the following:

"The Unaudited financial report for the six-month period ending 30 June 2018 of innogy Finance is incorporated by reference into this Prospectus."

3. The paragraph under the heading "Financial Information concerning innogy Finance's Assets and Liabilities, Financial Position and Profits and Losses - Significant change in innogy Finance's financial or trading position" on page 70 of the Supplemented Prospectus shall be replaced by the following:

"There has been no significant change in the financial or trading position of innogy Finance since 30 June 2018."

4. The first two paragraphs of the section "Ratings" on page 70 of the Supplemented Prospectus shall be replaced by the following:

"The senior, unsecured bonds issued by innogy Finance are currently rated A-1 by Fitch Ratings Ltd. ("Fitch")2,3 with stable outlook, BBB1 by Standard & Poor's Credit Market Services Europe Limited ("Standard & Poor's")3,2 with stable outlook and Baa21 by Moody's Investors Service Ltd ("Moody's")2,3 with stable outlook. The credit ratings are F21, A−21 and P−21 , respectively, for short-term innogy Finance bonds. Under the definition of Fitch long-term obligations that are rated ‘A-‘ denote expectations of low default risk. The capacity for payment of financial commitments is considered strong. This capacity may, nevertheless, be more vulnerable to adverse business or economic conditions than is the case for higher ratings. Under the definition of Fitch short-term rating scale, issuers rated 'F2' have a good intrinsic capacity for timely payment of financial commitments. A stable outlook with Fitch indicates a low likelihood of a rating change in the medium term."

5. After the existing information in the section "Recent Events" on page 71 of the Supplemented Prospectus, the following shall be inserted:

"At the beginning of July 2018 innogy Finance tapped the 4.5-year senior bond by €250 million which was placed in May 2018 with a volume of €500 million. On 10 October 2018 proceeds from innogy Finance B.V.’s inaugural Green Bond (issued in October 2017 with a nominal value of €850 million) were reallocated to grid projects. Sustainalytics, an ESG agency, confirmed the continued validity of innogy’s Green Bond Framework and the eligibility of projects in the grid business."

VI. Supplemental information pertaining to the section "GENERAL INFORMATION"

In the section "Documents on Display" on pages 214-215 of the Supplemented Prospectus the following subparagraphs (v) and (vi) shall be inserted and the remaining subparagraphs shall be renumbered accordingly:

"(v) the condensed consolidated interim financial statements of innogy Group for the period from 1 January 2018 to 30 September 2018;

(vi) the interim financial statements of innogy Finance for the period from 1 January 2018 to 30 June 2018"

VII. Supplemental information pertaining to the section "DOCUMENTS INCORPORATED BY REFERENCE"

1. In the section "Documents Incorporated by Reference" on page 216 of the Supplemented Prospectus the following subparagraphs (d) and (e) shall be inserted and the remaining subparagraph shall be renumbered accordingly:

"(d) the condensed consolidated interim financial statements of innogy Group for the period from 1 January 2018 to 30 September 2018;

(e) the interim financial statements of innogy Finance for the period from 1 January 2018 to 30 June 2018"

2. The list in the section "Comparative Table of Documents Incorporated by Reference" on pages 216-217 of the Supplemented Prospectus shall be supplemented by the following:

"Page Section of Prospectus Document incorporated by reference 64 innogy, Historical Financial Information 9M 2018 statement Income statement (p. 13), Statement of comprehensive income (p. 14), Balance sheet (p. 15), Cash flow statement (p. 16), Statement of changes in equity (p. 17) Accounting policies (p. 18) Review Report (p. 19) 70 innogy Finance, Historical Financial Information Unaudited financial report for the six-month period ending 30 June 2018 Balance Sheet, (p. 6) Income Statement, (p. 7) Cash Flow Statement, (p. 8) Notes, (p. 9 – p. 25)"

NAMES AND ADDRESSES

ISSUERS

innogy Societas Europaea innogy Finance B.V. Opernplatz 1 Willemsplein 2/4 45128 Essen 5211 AK 's-Hertogenbosch Federal Republic of Germany The Netherlands

FISCAL AGENT AND PAYING AGENT

Deutsche Bank Aktiengesellschaft Taunusanlage 12 60325 Frankfurt am Main Federal Republic of Germany

LUXEMBOURG LISTING AGENT

Deutsche Bank Luxembourg S.A. 2 Boulevard Konrad Adenauer 1115 Luxembourg Luxembourg