Analyst consensus

Here we present an overview of key financial estimates compiled from publications by independent national and international financial analysts.

Analysts' estimates

The forecasts published here are based on independent estimates by domestic and international financial analysts who conduct evaluations of Uniper's business performance.

For your convenience, we have compiled summaries of analyst estimates for principal reference indicators.

References to recommendations and ratings is for informational purposes only. Any opinions, forecasts, estimates, projections or predictions regarding Uniper's performance made by the analysts and, therefore, the Consensus estimate numbers are theirs alone and do not represent the opinions, forecasts, estimates, projections or predictions of Uniper or its management. Uniper does not by providing these estimates imply its endorsement of or concurrence with such information, conclusions or recommendations. Uniper does not assume any responsibility for updating or revising such consensus estimates. Uniper SE accepts no liability for the selection, currency, completeness or accuracy of analyst recommendations and estimates. None of the information shall be construed as an offer to buy Uniper shares. Uniper SE accepts no liability for damages incurred by third parties arising from the information obtained.

Consensus estimates of principal indicators for Uniper

The table below summarizes the latest analyst estimates.
	2025e			2026e			2027e
in €	Median	Max	Min	Median	Max	Min	Median	Max	Min
Adj. EBITDA	1,158	1,309	1,050	1,223	1,393	1,165	1,369	1,493	1,275
Adj. Net Income	493	532	290	531	621	354	574	691	439

Status: as of 16 October 2025; based on the estimates of 5 participating analysts.

Note:

This report was prepared by Vara Research GmbH for informational purposes only and is not intended to provide investment advice. It is based on an evaluation of past and an estimation of future earnings and performance of the relevant company by various market analysts. Owing to their subjective character, such estimates and forecasts cannot be independently verified. Despite careful review, Vara Research GmbH cannot provide any guarantee, assurance or warranty as to completeness or accuracy; responsibility and liability is therefore excluded.