RWE AG: Ad-hoc-disclosure according to Art. 17 MAR - RWE Recognises Impairments

Essen, 28 January 2014

Pursuant to International Accounting Standards (IAS 36), RWE AG is obliged to perform impairment tests both regularly and in the occurrence of certain events. RWE has identified the need to recognise an additional impairment of about EUR 3.3 billion at the Group level for the financial statements for 2013 compared to the interim financial statements as of September 2013.

About EUR 2.9 billion in impairments is attributable to the Conventional Power Generation Segment and is due to the continued deterioration of earnings in the Continental European power plant sector. A need for impairment has also been identified in the Renewables Segment and at our participations.

The impairments will reduce the non-operating result and therefore also the net income of the RWE Group. In contrast, they will not have an effect on EBITDA, the operating result or recurrent net income. Furthermore, they will not have an impact on cash.



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