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Operating result of €2.8 billion in first quarter 2023

Ad hoc announcement according to Sec. 17 German Market Abuse Regulation (MAR)
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Based on preliminary figures, EnBW expects Group adjusted EBITDA of €2.8 billion in the first quarter of 2023. This is significantly higher than the operating result in the first quarter of 2022 which was impacted by the outbreak of war in Ukraine and in which adjusted EBITDA was at EUR 1.2 billion.

The main driver of the increase is the segment Sustainable Generation Infrastructure. Large positive valuation gains on energy derivatives and also positive earnings performance in the area of electricity generation were the primary reasons for the earnings growth.

EnBW expects Group net profit of €2.3 billion for the first quarter of 2023 (Q1 2022: €0.6 billion). All figures are preliminary and unaudited.

The previous forecast for Adjusted EBITDA for the full year 2023 is being maintained from today's perspective.

The final figures for the first quarter of 2023 will be released as planned on 12 May 2023.

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Corporate Communications
EnBW Energie Baden-Württemberg AG
Durlacher Allee 93
76131 Karlsruhe