35Combined Group Management Report Consolidated Financial Statements Corporate Governance Report Supervisory Board and Board of Management Tables and Explanations E.ON Stock In a volatile stock market, E.ON stock finished 2009 above its 2008 year-end closing price (+9 percent factoring in the rein- vestment of the dividend), thereby outperforming its peer index, the STOXX Utilities, which rose by 7 percent during the same period. However, E.ON stock underperformed the German stock market (the DAX was up 24 percent) and the European stock market (the EURO STOXX 50 was up 26 percent) in 2009. E.ON Stock Dec. 31, 2009 Dec. 31, 2008 Earnings per share1 () 4.41 0.69 Dividend per share () 1.50 1.50 Shares outstanding (millions) 1,905 1,905 Closing price () 29.232 28.442 Market capitalization ( in billions)3 55.7 54.2 1Attributable to shareholders of E.ON AG. 2Year-end closing price on December 30. 3Based on shares outstanding. Notes 26 and 27 to the Consolidated Financial Statements contain more information about E.ON's bonds and liabilities, contingencies, and other commitments. E.ON successfully extended the 364-day tranche (Tranche A) of its syndicated credit facility. Tranche A now matures on November 25, 2010. As planned, we reduced its volume from 7.5 billion to 4 billion, as our future liquidity requirements will be reduced due to our well-balanced maturity profile and lower investment expenditures. There were no changes to our approximately 5 billion long-term tranche (Tranche B), which matures on December 2, 2011. We did not utilize our syn- dicated credit facility at any time in 2009. Standard & Poor's ("S&P") long-term rating for E.ON is A; Moody's long-term rating for E.ON is A2. The short-term ratings are A-1 (S&P) and P-1 (Moody's). The ratings assigned by both agencies thus correspond to E.ON's target rating. Both S&P and Moody's confirmed their long-term and short-term ratings for E.ON, all with a stable outlook, in respective publications issued in December 2009. Financial Liabilities in billions Dec. 31, 2009 Dec. 31, 2008 Bonds1 29.0 25.3 EUR 18.3 17.5 GBP 4.8 3.1 USD 2.9 2.7 CHF 1.5 0.8 SEK 0.6 0.5 JPY 0.7 0.6 Other currencies 0.2 0.1 Promissory notes 1.4 1.3 CP 1.5 7.3 Other liabilities 5.9 7.2 Total 37.8 41.1 1Includes private placements. E.ON AG Ratings Long term Short term Outlook Moody's A2 P-1 stable S&P A A-1 stable