E.ON Stock E.ON stock is listed on all German stock exchanges. On December 28, 2007, E.ON stock's weighting in the DAX index of Germany's top blue chips was 10.06 percent, once again the highest weighting in the index. E.ON stock is also included in all major European stock indices. In the United States, E.ON stock is traded in the form of American Depositary Receipts (ADRs). Since being delisted from the New York Stock Exchange on September 7, 2007, E.ON ADRs now trade on the over-the- counter market. The conversion ratio between E.ON ADRs and E.ON stock is three to one; that is, the value of three E.ON ADRs is effectively that of one share of E.ON stock. E.ON Stock's Development in 2007 In a strong stock market, the price of E.ON stock increased by 41.6 percent in 2007. Shareholders who reinvested their cash dividends saw the value of their E.ON portfolio increase by 45.6 percent in 2007. E.ON thus outperformed the German stock market (DAX +22.3 percent) and the European stock market (EURO STOXX +9.7 percent). The performance of European utility stocks as measured by the STOXX Utilities (+21.6 percent) also fell short of E.ON stock's performance. 8 2003 2004 per share 120 80 40 2005 2006 Stock Price at Year End in % 10.06 4.12 18.93 Weighting of E.ON Stock in Major Indices As of December 28, 2007 DAX Dow Jones EURO STOXX 50 Dow Jones STOXX Utilities 2007 145.5951.74 67.06 87.39 102.83 E.ON Stock E.ON stock closes year 41.6 percent higher Management recommends 4.10 per share dividend Dialog with investors intensified