Slide 1: Q1 2024 Financial Information
Q1 2024 FINANCIAL INFORMATION 17 May 2024
Slide 2: Catherine Macgregor, CEO
Q1 2024 FINANCIAL INFORMATION CATHERINE MACGREGOR CEO 2 ENGIE MAY 2024
Slide 3: Q1 2024 Highlights
Q1 2024 FINANCIAL INFORMATION Q1 2024 HIGHLIGHTS A strong start to the year in a fast-moving market environment Steady delivery of our strategy with expansion in renewables, BESS and green gases Decisive step in nuclear with the vote of the Belgian law 3 ENGIE MAY 2024
Slide 4: A strong start to the year, 2024 guidance confirmed
Q1 2024 FINANCIAL INFORMATION A STRONG START TO THE YEAR, 2024 GUIDANCE CONFIRMED EBIT ex. Nuclear CFF0 1 Economic net debt 2024 guidance confirmed €3.7bn €5.1bn €43.9bn NRIgs vs. €3.8bn in Q1 2023 Up €1.4bn Down €2.6bn vs end-2023 expected between €4.2 and €4.8bn 1 Cash Flow From Operations = Free
Slide 5: Steady delivery of our strategy
Q1 2024 FINANCIAL INFORMATION STEADY DELIVERY OF OUR STRATEGY Renewables Green gases BESS ENGIE starts commercial 42.1 GW 308 MW 11 TWh (up 2.1 TWh y-o-y) capacity connected to ENGIE’s operation of BESS Coya (139 MW installed capacity of PPAs signed, with maturity / 638 MWh), the largest Battery net
Slide 6: Decisive step in nuclear toward closing
Q1 2024 FINANCIAL INFORMATION DECISIVE STEP IN NUCLEAR TOWARD CLOSING Law has been voted by the parliament on April 18th, 2024 Only EU approval now remains to be achieved On track, with a closing expected by the end of 2024 6 ENGIE MAY 2024
Slide 7: Pierre-François Riolacci, CFO
Q1 2024 FINANCIAL INFORMATION PIERRE-FRANÇOIS RIOLACCI CFO 7 ENGIE MAY 2024
Slide 8: Strong financial performance in normalizing energy markets
Q1 2024 FINANCIAL INFORMATION STRONG FINANCIAL PERFORMANCE IN NORMALIZING ENERGY MARKETS Limited decrease of EBIT Q1 RESULTS €bn, unaudited figures1 Actual ∆ Gross ∆ Organic2 • EBIT (excluding Nuclear) slightly below Q1 2023 EBITDA (excluding Nuclear) 4.8 -1% -2% due to Networks and GEMS EBIT (exclu
Slide 9: EBIT evolution by GBU
Q1 2024 FINANCIAL INFORMATION EBIT EVOLUTION BY GBU Organic evolution impacted by accelerated energy market normalization 3,705 EBIT (excl. Nuclear) €-140m organic (€m) 1 284 (o/w +18 +28 1,458 OTHERS GEMS) -130 +11 +112 -14 -146 o/w -148 Retail GEMS Flex Gen 73 RETAIL Networks Others Energy 637 FLE
Slide 10: GEMS in Q1 2024
Q1 2024 FINANCIAL INFORMATION GEMS IN Q1 2024 Strong performance including market reserve recoveries and timing effects Key market drivers1 Q1 Q1 Q1 2024 underpinned by non-recurring (€/MWh) 2023 2024 positives Activity Power Germany 130 65 (€bn) Prices & • Normalization of market conditions leading
Slide 11: Cash flow from operations
Q1 2024 FINANCIAL INFORMATION CASH FLOW FROM OPERATIONS CFFO continues to benefit from strong operating cash flow and reversal of working capital Change in WCR: +1.4 (excluding GEMS market reserves & adjustments* : +0.7) +0.6 (€bn) Unbilled -1.8 GEMS +2.7 -0.5 market Margin calls Supply -0.3 -0.1 -0
Slide 12: Strong credit ratios, rating maintained
Q1 2024 FINANCIAL INFORMATION STRONG CREDIT RATIOS, RATING MAINTAINED Decrease in Net Debt thanks to strong cash flow generation Net Financial Debt Leverage ratios (€bn) +0.1 4.0x Capex 1 +0.6 Others -5.1 Dividends -0.1 29.5 +2.6 Nuclear 27.6 3.1x 2.9x CFFO funding & costs2 Dec Mar 2.0x 1.8x 2023 20
Slide 13: FY 2024 guidance confirmed
Q1 2024 FINANCIAL INFORMATION FY 2024 GUIDANCE CONFIRMED Rating Key assumptions “Strong investment grade” FX: Economic Net Debt / EBITDA €12.2 - 13.2bn ≤ 4.0x over the long term • €/USD: 1.09 • €/BRL: 5.36 Market commodity forward prices Dividend as at 31 March 2024 65-75% Nuclear Belgium ~ 92-94% a
Slide 14: Summary
Q1 2024 FINANCIAL INFORMATION SUMMARY A strong start to the year in a fast-moving market environment Steady delivery of our strategy with expansion in renewables, BESS and green gases Decisive step in nuclear with the vote of the Belgian law 14 ENGIE MAY 2024
Slide 15: Additional material
ADDITIONAL MATERIAL
Slide 16: Q1 2024 EBIT change by activity
Q1 2024 FINANCIAL INFORMATION – ADDITIONAL MATERIAL Q1 2024 EBIT CHANGE BY ACTIVITY Y/Y change (€m) Gross FX / Scope Organic Key drivers for organic change Mainly scope-in AMEA Commissioning of new capacity RENEWABLES +74 (Kathu consolidation, +28 Higher hydro volumes in Europe Lower prices in
Slide 17: EBIT breakdown
Q1 2024 FINANCIAL INFORMATION – ADDITIONAL MATERIAL EBIT BREAKDOWN Q1 2024 Rest of Latin Northern (€m) France Europe America America AMEA Others TOTAL RENEWABLES 300 110 246 27 38 (9) 712 NETWORKS 445 135 204 (1) (3) 779 ENERGY SOLUTIONS 161 68 (1) (14) 18 (14) 219 FLEX GEN 229 199 108 8 102 (9) 637
Slide 18: Outright power production in Europe
Q1 2024 FINANCIAL INFORMATION – ADDITIONAL MATERIAL OUTRIGHT POWER PRODUCTION IN EUROPE Nuclear and Hydro Hedged positions and captured prices (% and €/MWh) 74 77 70 59 As at 31 March 2024 Belgium and France Captured prices are shown: • before specific Belgian nuclear and French CNR hydro tax contri
Slide 19: Disclaimer
DISCLAIMER Important Notice The figures presented here are those customarily used and communicated to the markets by ENGIE. This message includes forward- looking information and statements. Such statements include financial projections and estimates, the assumptions on which they are based, as well
Slide 20: For more information about ENGIE
FOR MORE INFORMATION ABOUT ENGIE +33 1 44 22 66 29 ir@engie.com https://www.engie.com/en/financial-results FOR MORE INFORMATION ABOUT Q1 2024 RESULTS: https://www.engie.com/en/finance/results/2024 20 ENGIE MAY 2024