Within the Group, most employees have individual or collective performance-based variable remuneration. The terms and conditions of this variable remuneration differ from one Group company to another on the basis of historical agreements or applicable regulations.
in France, EDF and Enedis employees benefit from a profit-sharing scheme, introduced more than 20 years ago for EDF and for Enedis when it became a subsidiary. Most of the Group’s European subsidiaries have similar schemes. EDF and Enedis employees can choose either to receive payment and/or to invest it into either the Group Corporate Savings Plan or the Group Collective Retirement Saving Plan. In a constrained economic context, a policy of matching contribution is maintained. EDF’s profit-sharing agreements, usually three-yearly, were concluded for a one-year period in 2020, 2021 and 2022. EDF and Enedis require the profit- sharing amount payable to be set based on the meeting of national objectives reflecting the different components of the companies’ performances (economic, business lines, social and environmental).
EDF and Enedis pay particular attention on the professional training of their managers in questions of remuneration and, for example, in supporting managers at the time of the recognition campaign, with the modernisation of the recognition path for EDF as a whole and professional training for the HR function as a whole on questions of remuneration (implementing the new syllabus).
The employee savings schemes are open to employees of EDF and of the Group’s French companies in which EDF owns directly or indirectly at least 40% of the share capital and which have signed up to the Group Savings Plan (PEG) and/or the Collective Retirement Savings Plan (PERCO).
A full range of diversified mutual funds is available for subscription, including conservative funds mainly invested in bonds and money market investments, balanced funds and dynamic funds, mainly invested in shares, including shareholding funds invested in EDF shares. A dedicated, solidarity-based, low- carbon fund aims to invest in the energy transition while respecting agreements that limit CO2 emissions. Profit-sharing, as well as individual payments and transfers from the Time Savings Accounts, are matched by the Company under conditions negotiated within each company.
| The EDF group’s PEG | 2022 |
|---|---|
| Number of employees, retirees and former employees of the Group holding a PEG | Number of employees, retirees and former employees of the Group holding a PEG 2022203,382 |
| Share of total population (in %) | Share of total population (in %)202297.4 |
| Outstanding amounts (in billions of euros) | Outstanding amounts (in billions of euros)20225.3 |
The EDF group’s Collective Retirement Savings Plan is made up of two FCPE (Employee Mutual Investment Funds) profit-sharing funds with a total of eight investment vehicles: one solidarity fund and one set-maturity fund. The plan may be managed independently, in which case it may be invested in any sub-fund
regardless of the retirement date, or by the fund manager, in which case the level of risk will be automatically reduced as the maturity date approaches (retirement, acquisition of their primary residence). Profit-sharing, as well as individual payments and transfers from the Time Savings Accounts, are matched by the Company under conditions negotiated within each company.
| PERCO EDF group | 2022 |
|---|---|
| Number of employees, retirees and former employees of the Group holding a Group Collective Retirement Savings Plan | Number of employees, retirees and former employees of the Group holding a Group Collective Retirement Savings Plan 202289,723 |
| Share of total population (in %) | Share of total population (in %)202242.29 |
| Outstanding amounts (in billions of euros) | Outstanding amounts (in billions of euros)20221.0 |
It will be noted that 27% of Group employee savings (PEG + PERCO) is invested at the date hereof in funds aligned with Article 8 of the European Union SFDR (Sustainable Finance Disclosure Regulation).
In 2022, the EDF group launched an employee-shareholding operation termed “ORS 2022” by way of an increase in capital reserved for employees who are members of the Group Savings Plan or of the International Group Savings Plan.
The capital increase comprised a structured (or “leveraged”) formula with a guaranteed personal contribution in euros, within a limit of 8 million shares and a so-called “conventional” formula.
This operation enabled 43,888 employees to subscribe 18,100,741 shares equivalent to 0.46% of the pre-existing share capital.
As at 31 December 2022, the employees held 1.59% of the share capital, divided between the shares held by the “Actions EDF” and “EDF ORS” employee shareholding funds (FCPEs) of the Group Savings Plan and the shares held in registered form:
| Employee shareholders | Number of shares | % of capital | % of voting rights | |
|---|---|---|---|---|
| Employee shareholdings | Employee shareholdings Employee shareholders
|
Employee shareholdings Number of shares61,668,032 |
Employee shareholdings % of capital1.59% |
Employee shareholdings % of voting rights1.47% |
| Group Savings Plan (“Actions EDF” and “EDF ORS” employee shareholding funds) | Group Savings Plan (“Actions EDF” and “EDF ORS” employee shareholding funds) Employee shareholders103,715 |
Group Savings Plan (“Actions EDF” and “EDF ORS” employee shareholding funds) Number of shares57,796,177 |
Group Savings Plan (“Actions EDF” and “EDF ORS” employee shareholding funds) % of capital1.49% |
Group Savings Plan (“Actions EDF” and “EDF ORS” employee shareholding funds) % of voting rights1.35% |
| of which EDF shares | of which EDF shares Employee shareholders69,628 |
of which EDF shares Number of shares33,155,642 |
of which EDF shares % of capital0.85% |
of which EDF shares % of voting rights0.95% |
| of which EDF ORS | of which EDF ORS Employee shareholders59,697 |
of which EDF ORS Number of shares24,640,535 |
of which EDF ORS % of capital0.63% |
of which EDF ORS % of voting rights0.41% |
| Shares held in registered form | Shares held in registered form Employee shareholders
|
Shares held in registered form Number of shares3,871,855 |
Shares held in registered form % of capital0.10% |
Shares held in registered form % of voting rights0.12% |
