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

Risk Factors
The Issuer may from time to time be engaged in transactions involving an index or related
derivatives which may affect the market price, liquidity or value of the Notes and which could
be deemed to be adverse to the interests of the Noteholders.
In respect of Notes which are not offered to the public in France or listed in France (the AMF
not permitting such discretion in respect of such Notes), potential conflicts of interest may
arise between the Calculation Agent, if any, for a Tranche and the Holders of the Notes,
including with respect to certain discretionary determinations and judgments that such
Calculation Agent may make pursuant to the Terms and Conditions of the Notes that may
influence the amount receivable upon redemption of the Notes.
Legality of purchase
Neither the Issuer, the Dealers, the Arranger nor any of their respective affiliates has or
assumes responsibility for the lawfulness of the acquisition of the Notes by a prospective
investor of the Notes, whether under the laws of the jurisdiction of its incorporation or the
jurisdiction in which it operates (if different), or for compliance by that prospective investor
with any law, regulation or regulatory policy applicable to it.
Modification, waivers and substitution
The Terms and Conditions of the Notes contain provisions for calling meetings of holders of
the Notes to consider matters affecting their interests generally. These provisions permit
defined majorities to bind all holders of the Notes including holders of the Notes who did not
attend and vote at the relevant meeting and holders of the Notes who voted in a manner
contrary to the majority.
Regulatory restrictions
Investors whose investment activities are subject to investment laws and regulations or to
review or regulation by certain authorities may be subject to restrictions on investments in
certain types of debt securities. Investors should review and consider such restrictions prior
to investing in the Notes.
Credit ratings
Electricité de France, and Electricité de France's debt, have credit ratings which are the
subject of review from time to time by the independent credit rating agencies which assign
such credit ratings.
In addition, one or more independent credit rating agencies may assign credit ratings to the
Notes. The ratings may not reflect the potential impact of all risks related to structure,
market, additional factors discussed in this section, and other factors that may affect the
value of the Notes.
A credit rating is not a recommendation to buy, sell or hold securities and may be revised,
suspended or withdrawn by the rating agency at any time and without notice. Any such
revision suspension or withdrawal of any such credit rating could adversely affect the value
of the Notes.
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