Vallourec Sa · EURONEXT:VK
Vallourec Sa — Investor Day (June 2026)
27 slides from Vallourec Sa's investor day presentation, Jun 15, 2026
Slide 1: Geothermal Deep Dive
GEOTHERMAL DEEP DIVE June 15th 2026
Slide 2: Legal Disclaimer
Legal Disclaimer Forward-Looking Statements This presentation includes forward-looking statements. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms as “believe”, “expect”, “anticipate”, “may”, “assume”, “plan”, “intend”, “will”, “shoul
Slide 3: Agenda
Agenda 1 2 3 Geothermal: a Key Pillar Geothermal Energy Vallourec: Enabling the within Vallourec New Explained Future of Geothermal Energies 4 9 Today 17 Philippe Guillemot Bertrand de Rotalier Nora Brahmi Chairman of the Board & Senior VP New Energies, Project Technical Director of Marketing & Chie
Slide 4: Geothermal: a Key Pillar Within Vallourec New Energies
Geothermal: a Key Pillar Within Vallourec New Energies
Slide 5: Vallourec at a Glance
Vallourec at a Glance €3.8bn Over 135 13,000 of consolidated years of history employees revenue and expertise (€819m EBITDA) UNDISPUTED €36m CUTTING-EDGE CAPABILITIES 1.2m in steelmaking, tonnes spent on R&D threading, rolling of tubes shipped and heat treatment 5 – Vallourec Geothermal Deep Dive
Slide 6: Vallourec New Energies: a Comprehensive Portfolio
Vallourec New Energies: a Comprehensive Portfolio Broad offering to enable 10-15% of EBITDA contribution by 2030 Complements Oil & Gas business Contributes to global warming Reduces our industrial CO2 and opens new growth channels reduction by offering solutions footprint (focus on scope 3 to decarb
Slide 7: Geothermal Development is Gaining Momentum
Geothermal Development is Gaining Momentum DRIVERS ENABLERS INCREASING New geothermal systems POWER DEMAND and technologies for AI data-centers, EVs, electrification, UNLOCKING SCALE grid congestion Growing concerns about FALLING PROJECT ENERGY COSTS SECURITY making geothermal increasingly competiti
Slide 8: Rapidly Expanding Market
Rapidly Expanding Market Accelerating demand for high-value tubular products 150x Global annual electricity demand that UP TO 64% of forecast U.S. electricity demand 1.6GW Geothermal Power Purchase could be met by technically feasible growth at hyperscale data centers that Agreements signed enhanced
Slide 9: Geothermal Energy Explained
Geothermal Energy Explained
Slide 10: Geothermal Development Concepts
Geothermal Development Concepts Mature Technology, Emerging Technologies, Growing Applications High-potential Growth Conventional Geothermal Enhanced Geothermal Systems (EGS) Advanced Geothermal Systems (AGS) FOCUS INCREASING TECHNICAL TUBULAR REQUIREMENTS AND MARKET POTENTIAL 10 – Vallourec Geother
Slide 11: Next-Generation Geothermal Unlocks Vast Resource Scale
Next-Generation Geothermal Unlocks Vast Resource Scale Drilling techniques mastered in unconventional Oil & Gas now enabling geothermal to scale Enhanced geothermal resource potential at 2km Enhanced geothermal resource potential at 7km drilling depth drilling depth EGS & AGS (next-gen) are making g
Slide 12: A Solid Response to Current Energy Challenges
A Solid Response to Current Energy Challenges Rapidly declining costs Baseload energy, high-capacity factor Strong political support Small surface footprint Green / low CO2 footprint Based on proven, premium Plants are long lasting, Oil & Gas technologies safe & reliable 12 – Vallourec Geothermal De
Slide 13: Next-Gen Already Commercial With Costs Falling
Next-Gen Already Commercial With Costs Falling PPAs signed at today’s prices: 24/7 clean, reliable, fast > cost alone Installed Capex In USD/Kilowatt INTERMITTENT FERVO EGS BASELOAD GENERATION GENERATION 24/7 clean, cost effective, scalable High cost, delayed timelines Cheap but not $8,300-15,000 al
Slide 14: Rapidly Declining Next-Gen Costs
Rapidly Declining Next-Gen Costs Drilling and tubulars: playing a central role in project Capex and efficiency Average capital intensity of geothermal power assets by category Drilling time reduction drives significantly improved economics In USD/Watt Fervo Energy drilling rate and cost 2% Pre-FID d
Slide 15: From Niche Market to Rapid Expansion
From Niche Market to Rapid Expansion Next-gen technologies are unlocking geothermal growth potential Electricity demand is growing rapidly Increasing demand for clean, reliable supply US power demand by sector (TWh) Global geothermal installed capacity (GW) - IEA Announced Pledges Scenario Buildings
Slide 16: Geothermal Ecosystem: Powering Exponential AI Growth
Geothermal Ecosystem: Powering Exponential AI Growth Vallourec engaged with well-funded key players serving hyper-scalers ENERGY OFF-TAKERS Next-gen financing is surging $ billion 3.2 Long-Term Power Purchase Agreement GEOTHERMAL DEVELOPERS 2.2 1.2 Services and Equipment contracts 1.0 OIL FIELD SERV
Slide 17: Vallourec: Enabling the Future of Geothermal Today
Vallourec: Enabling the Future of Geothermal Today
Slide 18: Vallourec: 30+ Years in Geothermal
Vallourec: 30+ Years in Geothermal Powered by a dedicated organization A strong track record in geothermal Brief History NORTH AMERICA EUROPE ASIA • 1990s: first projects in Indonesia • 2022: New Energies Business line • 2026: first major long-term agreement signed Track Record Since 2022 FRANCE • V
Slide 19: Wells Are the Backbone of Geothermal
Wells Are the Backbone of Geothermal High value-added tubular solutions are essential for well integrity Transferable expertise and technologies from Oil & Gas with new technical requirements • Higher temperatures than Oil & Gas: up to 350°C vs 80-120°C • Thermal fatigue • Water flow control Tubular
Slide 20: Research and Development
Research and Development Solutions qualified to geothermal standards with a clear roadmap for the future VAM® 21 connections qualified & field proven up to 350°C QUALIFICATION Proprietary steel with high collapse properties tested OF SOLUTIONS at High Temperature Already FOR THERMOCASE® Vacuum Insul
Slide 21: Strong Vallourec Differentiators and Unique Portfolio
Strong Vallourec Differentiators and Unique Portfolio to Support Next-Gen Geothermal Deployment AGS specifics HIGH-PERFORMANCE PREMIUM TUBULARS INTEGRATED ENGINEERING DOUBLE WALL INSULATED FOR EXTREME CONDITIONS & WELL DESIGN EXPERTISE TUBING VACUUM INDUSTRIAL US SUPPLY PARTNERSHIPS WITH FIRST- CHAI
Slide 22: Customer Focus: Fervo Energy - Pioneering EGS
Customer Focus: Fervo Energy - Pioneering EGS FERVO IN BRIEF FERVO FOR VALLOUREC • Enhanced geothermal company est. 2017 • Top 5 customer in the US • Total capital raised ~$4bn • Enables solid utilization of Vallourec’s MPM2 tube rolling mill in Youngstown, Ohio • Core offer: Standardized 50MW ‘GeoB
Slide 23: The Growth Engine: from Market Focus to Value Creation
The Growth Engine: from Market Focus to Value Creation
Slide 24: Next-Gen New Capacity Installed Will Generate Solid Business Opportunities
Next-Gen New Capacity Installed Will Generate Solid Business Opportunities for Vallourec CONVENTIONAL ENHANCED ADVANCED Typical MW/well 10-20 5-10 0.5 – 1.5 OCTG/well (t) From 450 to 750 tonnes + Vacuum Insulated Tubing Vallourec differentiation Medium High Very high Revenue potential per MW1 Ind
Slide 25: Geothermal: Sustainable & Profitable Growth to Become the Largest Contributor
Geothermal: Sustainable & Profitable Growth to Become the Largest Contributor of Vallourec New Energies 2030 Ambition Vallourec Addressable Market Size From a small contribution for Vallourec in 2025… Thousand Metric Tonnes • <1% of Vallourec volumes in 2025, >2x growth in 2026 400 Up to ~50% CAGR •
Slide 26: Key Takeaways
Key Takeaways 1 Next-generation geothermal is scaling rapidly with game-changing potential for structural premium tubular demand Vallourec New Energies to comprise 2 We have the winning formula: geothermal-customized premium tubular products, R&D expertise, experience, 10-15% of Group EBITDA local f
Slide 27: Vallourec
y vallourec