ESSEN (dpa-AFX) - German utility RWE AG (RWEOY.PK) reported that its first
quarter adjusted net income declined to 801 million euros from 1.32 billion
euros in the prior year, reflecting lower earnings in the Flexible Generation
segment.

Adjusted EBITDA for the first quarter was 1.71 billion euros down from 2.31
billion euros in the previous year.

The company confirmed its outlook for 2024 and its target of paying a dividend
of 1.10 euros per share for the current fiscal year.

At the Capital Markets Day on 28 November 2023, RWE forecasted adjusted EBITDA
within a range of 5.2 billion euros to 5.8 billion euros. The company maintained
the guidance, although RWE expects to close at the lower end of the forecast
range. The reason for this is that electricity prices have dropped significantly
since November 2023. Annual adjusted net income is expected to be between 1.9
billion euros and 2.4 billion euros.

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