EVN – energy company and environmental services provider September 2021 2 Agenda

 EVN at a glance  Business development (FY 2019/20)  Back-up information

Company presentation, September 2021 3 Integrated business model as basis for our value chain

Generation1) Networks1) Trade and Customers2) Environment Thermal (985 MW) Electricity supply Electricity (3.5m) Drinking water Renewable (720 MW) (145,707 km) supply Electricity (0.3m) Natural gas Wastewater Natural gas Heating (0.1m) Storage (14,019 km) treatment Heat Drinking water (0.6m) Natural gas Heat Thermal waste and (903 km) sludge utilisation

1) As of 30 September 2020 2) Number of customers in brackets

 Foreign markets in the energy business − : Electricity distribution networks, electricity supply, generation and heat − North Macedonia: Electricity distribution networks, electricity supply and generation − Selected activities in Germany, Croatia and Albania

Company presentation, September 2021 4 High share of regulated and stable business

EUR 590.4m 82% of EBITDA from regulated and stable business (in FY 2019/20) Regulated business in Lower  Electricity distribution networks  Natural gas distribution networks Stable business in  Wind generation  Water supply (2.6%)  Heat (8.5%)  Waste incineration (4.3%)  Cable TV and telecommunication (5.5%)  Earnings contribution from Burgenland Holding (3.5%) Regulated business in SEE  Electricity distribution networks Unregulated business  Electricity supply  Generation  Heat  Energy trade and supply  International environmental projects  Storage of natural gas

Company presentation, September 2021 5 Strategy 2030

>80% of EBITDA from stable and EUR 450m Integrated regulated activities annual investments business model

Stable More sustainable. dividend policy More digital. Digitalisation of customer processes More efficient. Stable net debt

Reduction Diversification of specific emissions through international by 50% (2030 vs. 2005) project business

Company presentation, September 2021 6 Sustaining high share of stable income from regulated network business

 Investments in electricity networks − New construction or expansion of transformer stations and substations − Expansion of 110 kV power lines − Smart meter  Investments in gas networks − Replacement of PVC gas pipelines  Ø future RAB growth 3-4% p.a.

Company presentation, September 2021 7 Regulated business in Austria

Network Electricity Natural gas Comments

Regulatory authority E-Control GmbH E-Control GmbH

Start of the regulatory period 01.01.2019 01.01.2018

Next regulatory adjustment 01.01.2024 01.01.2023 Adjustment of WACC and productivity factors

Duration of the regulatory period 5 years 5 years

Regulatory method Revenue caps Revenue caps

Annual investments are added to the RAB in the RAB (EURm) Annually adjusted Annually adjusted following year  New RAB (as of 2019):  New RAB (as of 2018): 5.20% 5.20% Set for length of regulatory period WACC (pre-tax, nominal)  Existing RAB of DSO  Existing RAB of DSO with Higher WACC for existing RAB of DSO with above- with average average efficiency: average efficiency (such as EVN/Netz NÖ) efficiency: 4.88% 4.88% Gains from cost reductions remain with the General productivity factor 0.95% 0.83% company during the regulatory period Network operator price index consists of consumer Inflation Annual adjustment Annual adjustment price index and wage increase index

Company presentation, September 2021 8 Further expansion of renewable generation fleet as strategic priority

 EVN’s renewable portfolio with  Successful reduction of CO2 720 MW installed capacity1) footprint in electricity generation  Continuous increase of renewable share − 50% target exceeded in FY 2019/20 − Further growth of renewable electricity production envisaged

1) As of 30 September 2020 Company presentation, September 2021 9 EVN is #2 wind producer in Austria

 Planned development of EVN’s installed wind capacity (in MW)1)

 Evaluation of large-scale photovoltaic projects (up to 100 MW)

1) Subject to appropriate framework conditions Company presentation, September 2021 10 Strong market position in Austria

EVN‘s electricity market share Electricity market shares Gas market share in Gas market shares in in Lower Austria in the Austrian market Lower Austria the Austrian market

EVN: 10% EVN: 6% EVN: 72% EAA & Partners: 18% EVN: 36% EAA & Partners: 7% (excl. EVN) (excl. EVN)

Market size: 8.4 TWh 60 TWh15 TWh 94 TWh

Churn rates in Lower Austria

7.1% 6.7% 6.7% 6.2% 5.5% 4.9% 4.3%

4.5% 4.0% 3.6% 3.7% 3.4% 2.5% 2.1%

2014 2015 2016 2017 2018 2019 2020

electricity gas

Market shares refer to FY 2019/20; EVN holds a 45% stake in EAA & Partners Source market shares: E-Control 2020, EVN annual report and company numbers Company presentation, September 2021 11 Source churn rates: E-Control, market statistics – consumer attitude/churn rates electricity and gas according to network areas Continuous efforts to achieve further operating improvements in SEE

 Ongoing reduction of grid losses  Number of customers − Bulgaria: 1.8m − North Macedonia: 0.9m  Commitment to supply security  Investment strategy for SEE − Expansion and upgrading of network infrastructure to continuously reduce network losses − Replacement of metres to further improve collection rates

Company presentation, September 2021 12 Drinking water business in Lower Austria – stable earnings contribution and future growth area

 Largest regional drinking water supplier − 0.6m drinking water customers − Supra-regional pipeline networks and local water supply networks − Operation of 4 natural filter plants to reduce the hardness of water by natural means − Commissioning of 5th natural filter plant in winter 2021/22  Expansion of cross-regional pipeline networks (until 2030) EVN’s drinking water supply area in Lower Austria − ~EUR 165m total investments − ~300 km additional pipelines

Company presentation, September 2021 13 International environmental projects further diversify EVN’s business mix

 International project business − WTE Wassertechnik GmbH (Germany) − Planning and construction of plants for drinking water supplies, wastewater disposal and thermal waste incineration − Operation and financing (upon request) − 9 projects under planning and

Sludge drying and thermal sludge treatment plant project Tubli (Bahrain) construction (Germany, Poland, Lithuania, , Bahrain, Kuwait)1)  Plants for thermal utilisation of sewage sludge as area with high future potential − Contracts for projects in major German cities (Berlin, Hanover, Straubing)

1) As of 30 June 2021 Company presentation, September 2021 14 Wastewater treatment project Umm Al Hayman (Kuwait)

 Wastewater treatment plant (PPP) − Capacity: 500,000 m3/d (~1.7m people) − EPC contractor: WTE (100%) − Contract value: ~EUR 600m − Construction period: 2.5 years − Financing: equity1) (20%), bank debt (80%)  Sewage infrastructure (DBO) Layout of wastewater treatment plant − Pipes (450 km), pumping stations etc. − EPC contractor: WTE (67.6%) and two local partners − Contract value: ~EUR 950m − Construction period: up to 4 years − Financing through State of Kuwait (100%) 1) Shareholders: State-owned Kuwaiti institutions (80%), WTE (20%); WTE’s equity contribution (~EUR 30m) is covered by a state guarantee from the Federal Republic of Germany Company presentation, September 2021 15 Significant contribution to EVN‘s net profit from strategic investments

 Verbund AG 12.63% − #1 electricity producer in Austria and EUR 30.3m1) #2 hydropower producer in Europe with 8.2 GW installed capacity

73.63%  Burgenland Holding AG

EUR 20.8m1) − Holds a 49% stake in Energie Burgenland (#1 green energy producer in Austria, distribution networks, sale of energy) 50.03%  RAG Austria AG EUR 42.9m1) − ~6bn m3 storage capacity for natural gas

1) Contribution to EVN’s result before income tax in FY 2019/20

Company presentation, September 2021 16 Key messages to our shareholders

 High share of earnings from regulated and stable business  Continuous strengthening and expansion of domestic regulated and stable activities − Networks, wind generation, heating, drinking water supply  Benefit from solid home market − Maintain strong anchorage in the supply business despite growing competition  Robustness of integrated business model  Commitment to stable dividend policy

Company presentation, September 2021 17 Outlook for 2020/21

 Group net result for 2020/21 is expected to range from approximately EUR 200m to EUR 230m − Assuming average conditions in the energy business environment − Further course of the corona crisis and the resulting macroeconomic effects could have a negative influence  Investment strategy − Continued increase in annual investments over the coming years to an average of up to EUR 450m depending on projects − Thereof approximately three-fourths will be directed to renewable generation, networks, district heating and drinking water in Lower Austria − Wind and photovoltaic projects will be developed in Lower Austria as well as in the core markets outside Lower Austria − Occasional delays resulting from the lockdown will be recovered as soon as possible Company presentation, September 2021 18 EVN share

 Shareholder structure  Dividend history 2019/20 2018/19 Dividend per share (EUR) 0.49 0.47 + 0.031) Payout ratio (%) 43.8 29.4 Dividend yield (%) 3.4 3.1

30.06.2021 Share price (EUR) 19.88 Market capitalisation (EURm) 3,576

1) Bonus dividend of EUR 0.03 per share

 According to federal and provincial laws, the Province of Lower Austria is required to hold a stake of at least 51% in EVN

Company presentation, September 2021 19 Agenda

 EVN at a glance  Business development (FY 2019/20)  Back-up information

Company presentation, September 2021 20 Key financials (FY 2019/20)

FY 2019/20 +/-  Different developments in EURm % Revenue 2,107.5 -4.4 revenue EBITDA 590.4 -6.5 − Positive trend from South East Europe Depreciation and amortisation -296.7 -10.0 and international project business Effects from impairment tests -20.6 - EBIT 273.1 -32.3 − Decrease in thermal generation and in Financial results -15.8 47.3 the Networks Segment Group net result 199.8 -33.9  Decline in EBITDA

Net cash flow from operating activities 412.0 -4.1 − Price and volume effects in the Networks Investments1) 367.9 -6.0 Segment Net debt 1,037.7 3.8 − Recovery of EVN KG % 2) − Impairment loss of EUR 20.7m at Equity ratio 54.3 -1.3 Verbund Innkraftwerke EUR  Decline in EBIT Earnings per share 1.12 -34.0

1) In intangible assets and property, plant and equipment − Previous year was influenced by 2) Changes reported in percentage points revaluations

Company presentation, September 2021 21 Key energy business indicators (FY 2019/20)

2019/20 +/–  Decline in electricity generation GWh % Electricity generation volumes 3,785 -32.3 − Renewable generation lower y-o-y sources 2,250 -2.8 (additional wind capacity, but lower water Thermal energy sources 1,535 -53.2 flows) Network distribution volumes Electricity 22,154 -2.6 − Lower thermal generation (closure of Natural gas 15,228 -5.3 coal-fired power plant in Dürnrohr in Energy sales volumes to end August 2019; less calls for network customers stabilisation) Electricity 19,813 -0.6 thereof Austria and Germany 8,463 6.6  Network distribution volumes thereof South Eastern Europe 11,351 -5.3 − Decline in electricity caused by Covid-19 Natural gas 4,957 -2.5 Heat 2,303 4.9 − Decline in natural gas due to lower use of thermal power plants for network stabilisation and mild winter  Lower electricity sales volumes

Company presentation, September 2021 22 EBITDA development by segments (FY 2019/20)

Segment 2019/20 +/– Anmerkung Mio. EUR % Electricity generation below previous year; impairment effect at Generation 115.4 -55.7 Verbund Innkraftwerke after previous year`s revaluation

Energy 83.8 – Return to positive earnings contributions from EVN KG

Networks 199.9 -4.0 Negative volume and tariff effects

South East Europe 136.7 4.3 Lower procurement costs for grid losses

Y-o-y comparison influenced by positive one-off effects in prior Environment 17.3 -35.4 year’s at equity result

Company presentation, September 2021 23 Agenda

 EVN at a glance  Business development (FY 2019/20)  Back-up information

Company presentation, September 2021 24 Key financials (Q. 1-3 2020/21)

Q. 1-3 2020/21 +/–  Improvement in revenue EURm % Revenue 1,788.5 12.0 − Start of wastewater project in Kuwait EBITDA 655.1 27.5 − Higher temperature-related network sales Depreciation and amortisation -251.5 -17.2 Effects from impairment tests -111.6 – volumes in Austria, Bulgaria and North EBIT 291.9 2.6 Macedonia Financial results 2.8 – − Decline in natural gas trading Group net result 224.6 6.6  Increase in EBITDA, EBIT and Group net result Net cash flow from operating activities 529.6 – − Contrasting one-off effects from takeover Investments1) 256.3 27.5 of electricity procurement right in Q. 1 Net debt 770.9 -29.0 − Improvements in operating earnings and % valuation effects from hedges at EVN KG Equity ratio2) 57.4 1.8

1) In intangible assets and property, plant and equipment 2) Changes reported in percentage points Company presentation, September 2021 25 Solid balance sheet structure (Q. 1-3 2020/21)

 Gearing decreased from 22.8% to 13.1%  Strong balance sheet as basis for extended investment programme in the coming years (annually up to EUR 450m)  Committed, undrawn credit facilities in the amount of EUR 531m as of 30.06.2021

Company presentation, September 2021 26 Structure of investments1) (FY 2019/20)

 Investment strategy − Annual investments over the coming years to an average of up to EUR 450m depending on projects − Thereof approximately EUR 300m directed to networks, renewable generation and drinking water in Lower Austria

1) In intangible assets and property, plant and equipment

Company presentation, September 2021 27 Strong operating cash flow (FY 2019/20)

 Strong operating cash flow due to high share of regulated and stable business − Covers investments − Secures attractive dividend payments  Investment program with a strong focus on RAB-growth − Ø future RAB growth 3-4% p.a.

Company presentation, September 2021 28 Dividend and financial policy

 Stable dividend policy − Hold the absolute amount of the ordinary dividend constant at a level of at least EUR 0.49 per share  Financial policy − EVN’s goal is to maintain solid A category ratings in the future − In order to achieve such ratings, EVN is strictly monitoring the adjusted FFO/Net debt target ratios of both rating agencies  Credit ratings − Moody‘s: A1, stable outlook (May 2021) − S&P: A, negative outlook (May 2021)

Company presentation, September 2021 29 Well-balanced maturity profile

 EUR 551m undrawn, committed credit lines (as of 31 March 2021)

Company presentation, September 2021 30 Challenging market environment

Source: EVN, September 2021 Company presentation, September 2021 31 RAG Austria AG

 Shareholder structure − EVN AG (50.03%)1) − Exploration & Production GmbH (29.97%) − Energie Steiermark Kunden GmbH (10.00%) − AG (10.00%)  100% of RAG earnings are recognised as share of profit of equity accounted facility Haidach (Province of Salzburg) investees with operational nature

Key financials (FY 2020)  49.97% of RAG earnings assigned to Revenue EURm 279.5 minority interest Profit after tax 45.3 EURm  EVN contractually not entitled to exercise a controlling influence over

1) Indirectly through RAG-Beteiligungs-Aktiengesellschaft (100%) RAG Company presentation, September 2021 32 Contact details

 Stefan Szyszkowitz, CEO  Information on the internet − www.evn.at  IR contact partners: − www.investor.evn.at − Gerald Reidinger − www.responsibility.evn.at − Matthias Neumüller − Karin Krammer  Headquarters of EVN AG − Doris Lohwasser (maternity leave) − EVN Platz 2344 Maria Enzersdorf

 IR contact details − E-mail: [email protected]  Financial calendar − Phone: +43 2236 200-12128 − Next event: Results FY 2020/21, 16 December 2021 − Phone: +43 2236 200-12867 − www.investor.evn.at/financial-calender

Company presentation, September 2021 33 Disclaimer

Certain statements made in this presentation may constitute „Forward-Looking Statements” within the meaning of the U.S. federal securities law. Forward- looking information is subject to various known and unknown risks and uncertainties. These include statements concerning our expectations and other statements that are not historical facts.

The Company believes any such statements are based on reasonable assumptions and reflect the judgement of EVN’s management based on factors currently known by it.

No assurance can be given that these forward-looking statements will prove accurate and correct, or that anticipated, projected future results will be achieved.

For additional information regarding risks, investors are referred to EVN’s latest Annual report.

Company presentation, September 2021 34