EnBW Virtual Annual General Meeting

17 July 2020

Corona: well prepared for the crisis early on

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Protecting health as the number one priority

Secure supply of electricity, gas, water and heating at all times

Investment in IT and digital infrastructure has paid off

Social responsibility beyond the area of energy supply

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Increase in earnings for the third year in a row

Financial target for 2020 achieved one year early

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Tangible progress towards 2025 »

EnBW 2020Financial target

already achieved in 2019

€0.8billion

€1.0 billion

€0.2 billion

€0.4 billion

€0.3 billion

€1.2billion

€0.2 billion

€0.7billion

Figure in 2012 Target for 2020

Generation and Trading

Renewable Energies

Grids

Sales

» €2.4 billion €2.4 billion

Adjusted EBITDA

-80%

250%

25%

+100%

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Significant increase

in earningsMeasures have had an impact

Adjusted

EBITDA in € million

2018 20192018 2019

Adjusted Groupnet profit*in € million

2018 2019

2.158

2.433

+12.7%

438

787

Revenuein € million

20.81518.765

-9.9%

+79.5%

*Profit/loss shares attributable to the shareholders of EnBW AG5

Sales

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Increased number of customer contracts for EnBW, Yello and NE+ brands

E-mobility: market leader forquick charging in Germany

Highest growth rate for private PV/storage solutions

Rapidly expanding broadband business significantly strengthened

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Grids

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Grid stability and security of supply ensured

Interruptions to supply reduced by a further 12 percent

Netze BW participation model for local authorities launched

Preparations for Ultranet and SuedLink are on track

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Renewable Energies

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Hohe See/Albatrosoffshore wind farms completed

Successful entry onto the French and Swedish markets

Four solar parks built,well stocked project pipeline

First solar park without state funding under construction

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Generation and Trading

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Coal exit: ammendments to the brown coal contract required

Inauguration of the converted gas power plant in Stuttgart-Gaisburg

Gas: Number one in Germany in the profitable biomethane business

Philippsburg nuclear power plantshut down on schedule

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Growth: Main focus of investmentis on sustainable projects

20192018

1.786

3.315

Gross investment

12%

4%

47%

37%

Generationand Trading

Sales

Grids

RenewableEnergies

in € million

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Dividends

for 2019 Increase to €0.70

Adjusted Groupnet profit*

€787 million

Dividend payout ratio

40%**» »

Total dividend payout

€189.6million

Proposeddividend 2019

€0.70/share

*Profit/loss shares attributable to the shareholders of EnBW AG

**Adjusted for the valuation effects of IFRS 9 in the financial result11

Forecast 2020Earnings target still

achievable despite coronavirus

425to

500Generation and Trading

Renewable Energies825

to

925

Grids1,300

to

1,400

Sales 325

to

400

2,750to

2,900Group

Adjusted EBITDA in € million 12

EnBW 2025

strategyIncreasing the

operating result

to €3.2 billion

€1.3billion

System critical infrastructure

Sustainable generation

infrastructure

Smart infrastructure for customers

€1.3billion

€0.6billion

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Increase in earnings and early achievement of EnBW 2020 target

Viewing the coronavirus crisis as an opportunity»

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» Further development based on the 2025 strategy

Disclaimer

All of the figures refer – unless otherwise stated – to the EnBW Group and are – unless otherwise indicated – calculated according to IFRS.

No offer or investment recommendation

› This presentation has been prepared for information purposes only. It does not constitute an offer, an invitation or a recommendation to purchase or sell securities issued by EnBW Energie Baden-Württemberg AG (EnBW), a company of the EnBW Group or any other company. This presentation also does not constitute a request, invitation or recommendation to vote or give consent. All descriptions, examples and calculations are included in this presentation for illustrative purposes only.

Forward-looking statements

› This presentation contains forward-looking statements which are based on current assumptions, plans, estimates and forecasts made by the management of EnBW. Forward-looking statements of this kind are therefore only valid at the time they were first published.

› Forward-looking statements are indicated by the context, but may also be identified by the use of the words “can”, “will”, “should”, “plans”, “intends”, “expects”, “thinks”, “estimates”, “forecasts”,

“potential”, “continued” and similar expressions.

› By nature, forward-looking statements are subject to risks and uncertainties that cannot be controlled or accurately predicted by EnBW. Actual events, future results, the financial position, development or performance of EnBW and the companies of the EnBW Group may therefore diverge considerably from the forward-looking statements made in this presentation. Therefore, it cannot be guaranteed nor can any liability otherwise be assumed that these forward-looking statements will prove complete, correct or precise, or that expected and forecast results will actually occur in the future.

No obligation to update the information

› EnBW assumes no obligation of any kind to update the information contained in this presentation or to adjust or otherwise update forward-looking statements to future events or developments.

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