LONDON, March 24, 2025 /PRNewswire/ -- Elliott Advisors (UK) Limited ("Elliott," or "we"), which advises funds that together have an economic interest of close to 5% in RWE AG ("RWE" or "the Company"), today issued the following statement:

"We welcome RWE's decision to reduce its 2025-2030 investment programme by €10 billion, or 25%, while also implementing stricter investment criteria, raising return targets, and accelerating its farmdown strategy. These measures represent an important first step towards more disciplined capital allocation. However, we share the market's disappointment with the lack of clarity regarding the Company's commitment to enhance shareholder returns. Given the announced capex reduction and RWE's persistent undervaluation, we believe there is a compelling opportunity to significantly increase and accelerate the ongoing share buyback programme. We look forward to continuing our constructive dialogue with the Company."

About Elliott

Elliott Investment Management L.P. (together with its affiliates, "Elliott") manages approximately $72.7 billion in assets as of December 31, 2024. Founded in 1977, it is one of the oldest funds under continuous management. The Elliott funds' investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, high net worth individuals and families, and employees of the firm. Elliott Advisors (UK) Limited is an affiliate of Elliott Investment Management L.P.

Media Contacts

London
Alice Best
Elliott Advisors (UK) Limited
T: +44 203 009 1715
abest@elliottadvisors.co.uk

Frankfurt
Thomas Katzensteiner
Charles Barker
T: +49 69 79 40 90 25
Thomas.Katzensteiner@charlesbarker.de

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