Partnership with equity investors and outside creditors

Continuing the sound financial policy aims at sustainably increasing the company value and the attractiveness of Energie AG Group for equity investors and outside creditors. Forward-looking initiatives such as pro-active liquidity assurance are aimed at warranting stability and resilience in times of crisis, as well as with respect to uncertain macroeconomic developments in Austria.

Positioning ourselves as a reliable and stable partner for equity investors and outside creditors is an important goal of Energie AG, which is being pursued in a consistent and sustained manner. While Energie AG Group is pursuing a policy of paying stable dividends to its shareholders, the financial policy strongly emphasises the importance of a good and sustainably solid creditworthiness. This stable creditworthiness allows Energie AG Group to present itself as an attractive partner to creditors (capital market and banks), and to maintain its long-term debt capacity at advantageous conditions.

The target for the long-term creditworthiness of Energie AG Group is a rating within the A group. International rating agency Standard & Poor's has again certified the creditworthiness of Energie AG with a rating of “A (with a stable outlook)”, which emphasises the Group's stability and resilience in difficult economic times.

To secure the Group's long-term funding, Energie AG has successfully placed bonds with institutional investors in the 2020/2021 fiscal year. Multiple tranches with a total amount of EUR 75.0 million and terms of up to 30 years were subscribed in a private placement. The placement with a very long term of 30 years is extraordinary, emphasises the reputation of Energie AG with German-speaking institutional investors, and constitutes a vote of confidence for the stability, resilience, and resistance to crises of the Group and its business model.

The proceeds are used for the funding of sustainable infrastructure projects, predominantly for investments into the expansion and renewal of hydroelectric power plants and photovoltaic plants, as well as the expansion of the electricity grid in Upper Austria. The transformation toward sustainability in energy supply will require massive investment programmes from the entire industry over the next couple of years. The commercial successes enjoyed in recent years enable Energie AG to make a significant contribution to and actively participate in the energy transition.

The Group responds to the identified macroeconomic risks from the implications of the COVID-19 pandemic with efficiency improvement measures, a value-based investment management, and new business models aimed at harnessing additional earning potentials.

The magnitude of value creation for the stakeholders is evident in a study from the 2018/2019 fiscal year, in which Economica-Wirtschaftsforschung determined the economic footprint of Energie AG. The study found the Group to have Austria-wide relevance with a total value creation of EUR 1.1 billion and more than 10,000 safe jobs. In Upper Austria, 2.1% of the region's gross domestic product and 1.3% of employments are directly or indirectly dependent on Energie AG.

Information about the economic position of Energie AG Group and on the important subject of the partnership with equity investors and outside creditors can be found in the Group Management Report, in section Business development in the Group and in the Consolidated Financial Statements.

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