Valuation of shares Enexis Holding N.V.

04 July 2018

At the request of some of its shareholders, an independent valuation of the shares of Enexis Holding N.V. (Enexis) was executed in 2014. This valuation makes it possible to buy or sell shares amongst the existing shareholders of Enexis. In order to secure a valuation at market terms and due to the start of a new regulatory period, again an independent external advisor was hired in 2017 to present a valuation opinion for the shares of Enexis Holding N.V. as per the 1st of January 2017. Each year up to the next regulatory period, Enexis will provide an annual update of this valuation. The outcome of the update will be released around 1st July each year.

Update valuation

Today the updated valuation as per 1-1-2018 has been released to the shareholders of Enexis. The updated opinion shows a bandwith for the valuation of 100% of the shares per 1st of January 2018 of EUR 4,049- 4,549 million. This concerns the valuation under market terms based on a stand-alone and going-concern situation. The point estimate of the updated valuation is EUR 4,242 million. Based on the existing number of shares issued, the point estimate per share is EUR 28.34.