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Integrated reporting

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We have been publishing an Integrated Annual Report based on the recommendations of the International Integrated Reporting Framework since 2014, which combines the traditional contents of a financial report with a sustainability report. We do this in order to provide a holistic representation of the performance of the company. The dimensions of ecology, economy and social aspects are firmly embedded in the EnBW 2025 strategy, reflecting the highly integrated nature of our corporate management system. An important element is measuring the achievement of our goals using key performance indicators.

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Important aspects of reporting

EnBW started reporting on the EU taxonomy on a voluntary basis in the 2020 financial year and has been continuously developing its reporting since then. Alongside the environmental objectives “climate change mitigation” and “climate change adaptation,” the other four environmental objectives “sustainable use and protection of water and marine resources,” “pollution prevention and control,” “transition to a circular economy” and “protection and restoration of biodiversity and ecosystems” are now also being taken into account for the first time in the 2023 financial year. Alongside the information on revenue, capex and opex required by the Taxonomy Regulation, we also report on the taxonomy KPIs for adjusted EBITDA and capex including the proportion for entities accounted for using the equity method (expanded capex).

The reporting period comprises the 2023 financial year. We took into account all relevant information up to 11 March 2024. The identification of key themes for our reporting is anchored in the materiality analysis process (p. 43).

Our reporting is based on the International Integrated Reporting Framework and the recommendations issued by the Task Force on Climate-related Financial Disclosures (TCFD) (p. 146). The reporting of sustainability issues is based on the GRI Standards, including the Electric Utilities Sector Supplement. EnBW has reported for the period from 1 January to 31 December 2023 in compliance with the GRI Standards. An audit will be carried out in the second quarter of 2024 as part of the GRI content index service. Our sustainability reporting also complies with the Communication on Progress (COP) requirements for the UN Global Compact and is based to an increasing extent on the UN Sustainable Development Goals.

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Presentation and auditing

The information about the net assets, financial position and results of operations of the EnBW Group is based on the requirements of the International Financial Reporting Standards (IFRS), and, where applicable, the German Commercial Code (HGB) and German Accounting Standards (GAS). On the basis of our integrated reporting, the non-financial declaration (p. 145 f.) pursuant to sections 315b and 289b HGB is fully integrated into the combined management report of the EnBW Group and EnBW AG and was audited with reasonable assurance by EY GmbH & Co. KG Wirtschaftsprüfungsgesellschaft. Any differences between statements made for the EnBW Group and for EnBW AG are clearly identified in the text.