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Under the Euro Medium Term Note Programme ... - Finance - EDF

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Summary<br />

listed and admitted to trading on a Regulated Market o<strong>the</strong>r than<br />

<strong>Euro</strong>next Paris, <strong>the</strong> relevant Final <strong>Term</strong>s will provide whe<strong>the</strong>r<br />

additional methods of publication are required and what <strong>the</strong>y consist<br />

of.<br />

Clearing Systems<br />

Selling Restrictions<br />

<strong>Euro</strong>clear France as central depositary in relation to Dematerialised<br />

<strong>Note</strong>s and, in relation to Materialised <strong>Note</strong>s, Clearstream,<br />

Luxembourg and <strong>Euro</strong>clear or any o<strong>the</strong>r clearing system that may<br />

be agreed between <strong>the</strong> Issuer, <strong>the</strong> Fiscal Agent and <strong>the</strong> relevant<br />

Dealer.<br />

There are restrictions on <strong>the</strong> sale of <strong>Note</strong>s and <strong>the</strong> distribution of<br />

offering material in various jurisdictions.<br />

In connection with <strong>the</strong> offering and sale of a particular Tranche,<br />

additional selling restrictions may be imposed which will be set out<br />

in <strong>the</strong> relevant Final <strong>Term</strong>s.<br />

Risk Factors<br />

A. Essential risks associated with <strong>EDF</strong><br />

The <strong>EDF</strong> Group operates in an environment that is experiencing<br />

profound change, generating various risks, some of which are<br />

outside of its control and which are in addition to <strong>the</strong> risks inherent in<br />

carrying on its businesses. The risks that <strong>the</strong> <strong>EDF</strong> Group believes<br />

are material for its businesses are described below and more<br />

extensively in "Risk Factors" below. One or several of <strong>the</strong>se risks<br />

could possibly have an adverse effect on <strong>the</strong> <strong>EDF</strong> Group’s activities<br />

and/or its results. Moreover, o<strong>the</strong>r risks, of which it is currently<br />

unaware, or which it believes are not material at present, may have<br />

<strong>the</strong> same adverse effect.<br />

The risks identified below relate to:<br />

<br />

<br />

<br />

<br />

<br />

<strong>Euro</strong>pean energy markets;<br />

<strong>the</strong> <strong>EDF</strong> Group's activities;<br />

<strong>the</strong> <strong>EDF</strong> Group's nuclear activities;<br />

<strong>the</strong> <strong>EDF</strong> Group’s structure and changes within <strong>the</strong> <strong>EDF</strong> Group;<br />

and<br />

<strong>EDF</strong>’s capital structure and <strong>the</strong> listing of its shares.<br />

B. Essential risks associated with <strong>the</strong> <strong>Note</strong>s to be issued by<br />

<strong>EDF</strong><br />

An investment in <strong>the</strong> <strong>Note</strong>s involves certain risks which are material<br />

for <strong>the</strong> purpose of assessing <strong>the</strong> market risks associated with <strong>Note</strong>s<br />

issued under <strong>the</strong> <strong>Programme</strong>. While all of <strong>the</strong>se risk factors are<br />

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