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EDF completes tender offer for two series of outstanding hybrid notes

October 2025

Client(s) EDF (Electricité de France)

Jones Day assisted EDF (Electricité de France) in relation to a tender offer launched on 29 September 2025 to purchase any and all of (i) its €1 billion reset perpetual subordinated notes with a first redemption at the option of EDF on 22 January 2026 of which €501.3 million was outstanding ("EUR 2026 Notes") and (ii) its £1.250 billion reset perpetual subordinated notes with a first redemption at the option of EDF on 29 January 2026 of which £628.7 million was outstanding ("GBP 2026 Notes"), which were admitted to trading on the regulated market of Euronext Paris.

EDF announced the final results of the tender offer on 7 October 2025. The aggregate principal amount of EUR 2026 Notes validly tendered and accepted for purchase is €218.50 million. The aggregate principal amount of GBP 2026 Notes validly tendered and accepted for purchase is £469.1 million.

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