EQS-News: E.ON successfully completes acquisition of OVO in the UK

E.ON successfully completes acquisition of OVO in the UK

• Transaction completed following full regulatory approval
• Significantly strengthened presence in the UK market
• Additional growth opportunities in digital and flexible energy solutions

E.ON has successfully completed the acquisition of UK energy supplier OVO, announced in May. The transaction has been completed following the recent approval by the UK Competition and Markets Authority (CMA). With this step, E.ON is strengthening its position in the United Kingdom, one of Europe’s most important energy markets and, at the same time, the Group’s second-largest retail market.

OVO will be fully integrated into E.ON. Driven by greater scale, E.ON will be able to develop even more innovative customer solutions faster and more efficiently in a highly dynamic market environment, and to scale them across Europe. The parties have agreed not to disclose the purchase price.

Marc Spieker, Chief Operating Officer Commercial at E.ON: “The acquisition of OVO is an important milestone for our UK retail business. We are combining greater scale in a highly digitalized market with innovative strength. This will enable us to make intelligent and flexible energy solutions available even faster. With solutions like these, our customers can significantly reduce their energy costs while actively contributing to the energy transition.”

This press release may contain forward-looking statements based on current assumptions and forecasts made by E.ON Group Management and other information currently available to E.ON. Various known and unknown risks, uncertainties, and other
factors could lead to material differences between the actual future results, financial situation, development or performance of
the company and the estimates given here. E.ON SE does not intend, and does not assume any liability whatsoever, to update
these forward-looking statements or to align them to future events or developments.