Uniper expects adjusted earnings before interest and taxes (Adjusted EBIT) for the first nine months of 2021 amounting to approximately EUR 600 million (previous year: EUR 405 million). The increase in earnings reflects mainly a higher contribution from the gas mid-stream business within the Global Commodities Segment.

Following the expected positive earnings development after nine months and taking into consideration the expectations for the remainder of the financial year, Uniper raises its Adjusted EBIT outlook for the full-year 2021 to now EUR 1,050 - 1,300 million (previously: EUR 800 - 1,050 million). The expected Adjusted Net Income for the full-year 2021 amounts now to EUR 850 - 1,050 million (previously: EUR 650 - 850 million).

Furthermore, for the first nine months of 2021 Uniper expects currently a negative IFRS Net Income of approximately EUR -4.8 billion. This is primarily the result of temporary losses from hedge derivative valuation under IFRS, amounting to roughly EUR -7 billion before tax, which are partly offset by compensating effects. The background for these valuation losses is the fact that Uniper is hedging its natural asset positions with forward sales. In many cases, the hedge deals are subject to "mark-to-market" accounting under IFRS, while the underlying assets, like power plants, are not. Accordingly, in times of rising commodity prices Uniper's IFRS Net Income reflects unrealized losses from hedges now, while the offsetting gains on the underlying (hedged) assets are not recognized until delivery. This IFRS driven accounting mismatch is only temporary and will resolve over time as the positions settle. Uniper neutralizes those effects within its key performance indicators Adjusted EBIT and Adjusted Net Income in order to better reflect Uniper's operational development.

All published figures and statements are preliminary and unaudited. The detailed results for the first nine months of 2021 will be published on 5 November 2021, as announced.

The key figures used are explained in Uniper SE's 2020 annual report. Uniper SE's 2020 annual report is available at www.uniper.energy.

Contact:
Person making the notification:
Dr. Sascha Fehlemann
Senior Vice President Corporate Legal Affairs

Contact for investors and analysts:
Stefan Jost
Executive Vice President
Group Finance & Investor Relations
Uniper SE
Holzstraße 6
40221 Düsseldorf
Telefon +49 211 4579 8200
Telefax +49 211 4579 2022
Email ir@uniper.energy

Media contact:
Fabienne Twelemann
Executive Vice President
Corporate Communications & Governmental Affairs
Uniper SE
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40221 Düsseldorf
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press@uniper.energy