S.n.t.g.n. Transgaz Sa · BVB:TGN
S.n.t.g.n. Transgaz Sa — Investor Presentation (February 2026)
42 slides from S.n.t.g.n. Transgaz Sa's investor presentation, February 2026
Slide 1: General Transgaz Group Presentation
GENERAL TRA NSGAZ GROUP PRESENTATION ROHYD g PARTE DIN VIITORUL. VERDE © cence eahronn We transmit natural gas under efficiency and the utmost safety conditions! We support investment in people and the environment! February 2026
Slide 2: SNTGN Transgaz is the licensed technical operator of the National Gas Transmission System
SNTGN TRANSGAZ is the licensed technical operator of the National Natural Gas Transmission System and ensures the performance in terms of efficiency, transparency, safety, non-discriminatory access and competitiveness of the national strategy established for domestic and international transmission,
Slide 3: History (I)
16 May 2022 - The European 2020 – Completion and 16 June 2023 - At the Investment Bank (EIB) and HISTORY (I) commissioning of the Bulgaria- Romania-Hungary-Austria BRUA Transgaz signed an Agreement on the provision of consultancy headquarters of the Romanian Government, in the presence of Deputy Pri
Slide 4: History (II)
HISTORY (II) The construction of the Borcea Arm and the 11 January 2024 – At the initiative of June 2024 - the limited liability Danube undercrossings. In terms of its length SNTGN Transgaz SA, the meeting of company Transport Romania and complexity, this is the most important the natural gas Transm
Slide 5: Activities, Vision and Mission
ACTIVITIES ,VISION AND MISSION VISION SNTGN Transgaz SA aims to strengthen its role as an internationally recognized gas transmission operator, leader on the energy market in the region, with a modern national gas transmission system, integrated at European level and with a competitive management sy
Slide 6: Responsibility for the Future!
RESPONSIBILITY FOR THE FUTURE! In 2017, the establishment of EUROTRANSGAZ S.R.L. on the territory of the In 2018, Vestmoldtransgaz S.R.L. (VMTG) was acquired by Eurotransgaz S.R.L., Republic of Moldova was approved for the successful participation in the with Transgaz becoming the sole shareholder o
Slide 7: Responsibility for the Future!
RESPONSIBILITY FOR THE FUTURE! 7
Slide 8: Shareholding
SHAREHOLDING Shareholding structure 15 January 2026 Transgaz is the second major state-owned company in the utilities sector which, in order to achieve its strategic objectives, launched an 33,4015% initial public offering of shares in 2008. 58,5096% In the context of the development of the capital
Slide 9: TGN Stock Market Performance in 2008 - 24.02.2026
The positive evolution of TGN share price and market capitalization between 2008 and 24.02.2026 reflects both investor confidence in the company's prospects and the favorable impact of strategic decisions, financial results, and the legislative and economic context. Transgaz has thus consolidated it
Slide 10: TGN Stock Performance on the Stock Market 05.01-24.02.2026
TGN shares are attractive portfolio investments due to the company's business activities, TRANSGAZ' monopoly position in natural gas transmission, the company's position on the national and international energy market, its robust financial profile and TRANSGAZ’ ability to generate performance, stabl
Slide 11: Corporate Governance
CORPORATE GOVERNANCE Advisory committees set up at the level of the Board of Administration: • The Nomination and Remuneration Committee; • The Audit Committee; • The Risk Management Committee; The governing bodies of TRANSGAZ are: • The NTS Regulatory, Safety and Security Committee; • General meeti
Slide 12: Social Responsibility Is a Clear Mission for Us
SOCIAL RESPONSIBILITY IS A CLEAR MISSION FOR US, A WAY OF DOING BUSINESS AND SUPPORTING SOCIAL COHESION! Sustainable community development - We are where there is a real need! • Education - We believe in the potential of the young generation and that is why we invest in their education! • Sport - We
Slide 13: Certifications
CERTIFICATIONS INDEPENDENT SYSTEM OPERATOR Internal/management control Transgaz implemented the internal/managerial control system in accordance with GSG Order no. 600/2018 on the approval of the internal/managerial control code of public entities. In accordance with the unbundling requirements of t
Slide 14: Organisational Structure
ORGANISATIONAL STRUCTURE harta Transgaz TRANSGAZ is structured into functional entities (divisions, units, departments, offices, compartments, etc.) and production entities (9 regional offices, sectors, laboratories, working units, etc.). Share (%) SNTGN Transgaz SA Parent company Eurotransgaz SRL C
Slide 15: Human Resources
HUMAN RESOURCES Special emphasis on the quality of human resources Evolution of personnel number The optimal sizing of the number of personnel within the company is 4.405 correlated with the real human resources needs imposed by the operational 4.202 activities carried out by the company, with the u
Slide 16: Efficient Research and Design Capabilities
EFFICIENT RESEARCH AND DESIGN CAPABILITIES The design and research activity includes extremely complex strategic activities aimed at: Upgrade and retrofit of the natural gas transmission system to increase safety; Increase in energy efficiency; Gas flow metering; Occupational and environmental prote
Slide 17: Main Components of the National Gas Transmission System
MAIN COMPONENTS OF THE NATIONAL GAS TRANSMISSION SYSTEM As at 31 December 2025: CURRENT NTS INFRASTRUCTURE ❑ 14380 km of main transmission pipelines and connections for natural gas supply, of which 481 km - BRUA gas pipeline and 308 km Tuzla – Podișor pipeline; ❑ 1.180 natural gas metering stations
Slide 18: Key Factors of the Activity as at 31.12.2025 (1)
KEY FACTORS OF THE ACTIVITY AS AT 31.12.2025 - preliminary (1) CIRCULATED GAS– 31.12.2025 Circulated natural gas (including storage) - mil. cm - rolling 12 months 14.494 14.611 14.557 14.695 14.128 14.350 13.809 13.904 13.898 13.937 13.969 13.345 ian-25 feb.25 mar.25 apr.25 mai.25 iun.25 iul.25 aug.
Slide 19: Key Factors of the Activity as at 31.12.2025 (2)
KEY FACTORS OF THE ACTIVITY AS AT 31.12.2025 - preliminary (2) Price (lei/MWH) for natural gas consumption in the transmission system 231,58 256,73 212,51 147,87 151,06 156,20 159,75 173,80 173,40 171,89 151,38 139,40 ian.25 feb.25 mar.25 apr.25 mai.25 iun.25 iul.25 aug.25 sept.25 oct.25 nov.25 dec.
Slide 20: Strategic Objectives 2025-2029
STRATEGIC OBJECTIVES 2025-2029 As a certified natural gas transmission system operator under the Third STAKEHOLDER PERSPECTIVE Energy Package, since July 2010 TRANSGAZ is a member of ENTSOG Business continuity and investment projects (European Network of Transmission and System Operators for Gas), a
Slide 21: Strategic Objectives 2025-2029 (Hydrogen)
STRATEGIC OBJECTIVES 2025-2029 SNTGN Transgaz SA, as operator of the National Gas Transmission System (NTS), is interested in the potential of integrating hydrogen from renewable To this end, it has identified the corridors that could be included in the and low-carbon sources into the natural gas tr
Slide 22: 2024-2033 TYNDP Strategic Investments
2024-2033 TYNDP STRATEGIC INVESTMENTS MAJOR PROJECTS BENEFITS ▪ integration of the natural gas market and interoperability of natural gas transmission systems in the region; ▪ increasing the flexibility of the European gas transmission system by the achievement of bidirectional interconnections; ▪ o
Slide 23: Major Development Projects for Natural Gas Transmission 2024-2033 (I)
MAJOR DEVELOPMENT PROJECTS for NATURAL GAS TRANSMISSION 2024-2033 (I) Estimated Project no. Completion Project Project value The importance of the project deadline status mil. Euro The expansion of the compressor stations in Podișor and Bibești will ensure a constant supply of Expansion of the Podis
Slide 24: Major Development Projects for Natural Gas Transmission 2024-2033 (II)
MAJOR DEVELOPMENT PROJECTS for NATURAL GAS TRANSMISSION 2024-2033 (II) Project Estimated Completion Project no. Project value The importance of the project deadline status mil. Euro Phase 1: 1,297 Phase 1: EASTRING will be open to well-established sources as well as alternative sources. It will brin
Slide 25: Major Development Projects for Hydrogen Transmission 2024-2033
MAJOR DEVELOPMENT PROJECTS for HYDROGEN TRANSMISSION 2024-2033 Value Deadline Project Project Project estimated for Project importance no. status mil. Euro completion Upgrade of the Isaccea - Jupa pipeline for hydrogen Repurposing of natural gas transmission infrastructure to transport hydrogen mixe
Slide 26: Major Investments Completed in Recent Years
MAJOR INVESTMENTS COMPLETED IN RECENT YEARS Project value Year of Sources of No. Project name The importance of the project (milion Euro) completion funding Development on the territory of Romania of the National Gas Transmission Equity - 20% System on the Bulgaria-Romania-Hungary-Austria-BRUA Corri
Slide 27: Other Major Investment Works Completed in Recent Years
OTHER MAJOR INVESTMENT WORKS (NTS EXTENSIONS) COMPLETED IN RECENT YEARS Project Completion No. Project name value Project importance year (mil. LEI) DN 500 CRAIOVA - SEGARCEA - BĂILEȘTI - PLENIȚA-CALAFAT GAS This pipeline section can ensure the gas supply to the 6 territorial administrative units: C
Slide 28: Commissionings in 2013-2025
COMMISSIONINGS IN 2013-2025 In line with shareholders' expectations regarding investment objectives, the Group's investment strategy and policy is reflected in the evolution of investments made between 2013 and 2025, amounting to lei 5,25 billion (equivalent to EUR1,09 billion), following an upward
Slide 29: Summary of Investments in Progress at the Beginning of 2026
SUMMARY OF INVESTMENTS IN PROGRESS AT THE BEGINNING OF 2026 The value of the main investment works in 2026, in various phases: execution, tender, design – is lei 8,72 billion (approx. EUR 1,71 billion at the exchange rate for the euro of 5.09 lei/euro), as follows: - 34% investment works in the desi
Slide 30: Vertical Corridor - Regional Cooperation Projects
VERTICAL CORRIDOR - REGIONAL COOPERATION PROJECTS The Vertical Corridor concept has been promoted by Romania since 2016 as a strategic initiative aimed at reducing total dependence on Russian gas and facilitating the supply of American LNG produced by American companies both in the United States and
Slide 31: Financing Sources
FINANCING SOURCES Considering the need to finance the complex and extensive investment program, The company is making sustained efforts to obtain non- SNTGN Transgaz SA aims to achieve sustainable financial and operational performance reimbursable financial assistance for financing investment for th
Slide 32: International Cooperation
INTERNATIONAL COOPERATION International cooperation is fundamental for the company because: ensures energy security ensures integration into promotes green strengthens Romania's facilitates access to and European the European energy transition and regional strategic role in the funds and technology
Slide 33: Financial Results
FINANCIAL RESULTS Statement of individual comprehensive income as at 31.12.2025 - preliminary Statement of individual financial position as at 31.12.2025 - preliminary Statement of consolidated comprehensive income as at 31.12.2025 - preliminary Statement of consolidated financial position as at 31.
Slide 34: Financial Results as at 31.12.2025 - Individual Comprehensive Income (1)
FINANCIAL RESULTS AS AT 31.12.2025 - preliminary STATEMENT OF INDIVIDUAL COMPREHENSIVE INCOME AS AT 31.12.2025 (1) Changes 2023 2025 THOUSAND LEI 2024 2025/2024 restated preliminary Absolute Relative Revenue from operation before the balancing and construction activity according to IFRIC12 1.711.286
Slide 35: Financial Results as at 31.12.2025 - Individual Comprehensive Income (2)
FINANCIAL RESULTS AS AT 31.12.2025 - preliminary STATEMENT OF INDIVIDUAL COMPREHENSIVE INCOME AS AT 31.12.2025 - preliminary (2) Changes 2023 2025 THOUSAND LEI 2024 2025/2024 restated preliminary Absolute Relative Revenue from domestic gas transmission 1.451.982 1.954.194 2.460.922 506.728 126% Reve
Slide 36: Statement of Individual Financial Position as at 31.12.2025
FINANCIAL RESULTS AS AT 31.12.2025 - preliminary STATEMENT OF INDIVIDUAL FINANCIAL POSITION AS AT 31.12.2025 - preliminary 2023 2025 2024 Changes 2025/2024 THOUSAND LEI restated preliminary Absolute Relative Non-current assets 6.704.560 8.382.143 9.583.705 1.201.562 114% Current assets 1.653.610 1.9
Slide 37: Statement of Consolidated Comprehensive Income as at 31.12.2025
FINANCIAL RESULTS AS AT 31.12.2025 - preliminary Consolidated companies in the Transgaz Group Share SNTGN TRANSGAZ SA Parent company EUROTRANSGAZ SRL Company held by SNTGN Transgaz SA 100% STATEMENT OF CONSOLIDATED COMPREHENSIVE INCOME AS AT 31.12.2025 - preliminary VESTMOLDTRANSGAZ SRL Company held
Slide 38: Statement of Consolidated Financial Position as at 31.12.2025
FINANCIAL RESULTS AS AT 31.12.2025 - preliminary STATEMENT OF CONSOLIDATED FINANCIAL POSITION AS AT 31.12.2025 - preliminary Changes 2023 2025 2024 2025/2024 THOUSAND LEI restated preliminary Absolute Relative NON-CURRENT ASSETS 7.090.823 8.725.834 9.907.089 1.181.255 114% CURRENT ASSETS 1.734.527 2
Slide 39: Main Indicators - Consolidated Statements as at 31.12.2025
FINANCIAL RESULTS AS AT 31.12.2025 - preliminary 2023 2025 MAIN INDICATORS – CONSOLIDATED STATEMENTS AS AT 31.12.2025 - preliminary 2024 (restated) preliminary EBITDA margin 28,68% 37,88% 43,82% Turnover 2023-2025 EBITDA to equity ratio 15,25% 21,30% 27,69% Gross profit margin 10,21% 20,10% 33,25% 3
Slide 40: Involvement in Major National and European Associations
INVOLVEMENT IN MAJOR NATIONAL AND EUROPEAN ASSOCIATIONS EUROPEAN ASSOCIATIONS NATIONAL ASSOCIATIONS European Hydrogen Backbone 40
Slide 41: Organizational Relationships
ORGANIZATIONAL RELATIONSHIPS MAIN DOMESTIC AND FOREIGN PARTNERS MAIN FOREIGN PARTNERS MAIN DOMESTIC PARTNERS 41
Slide 42: Transgaz Group contact details
\|experience % Win | -and domestic \_, international “natural gas “transmission TRANSGAZ GROUP TRANSGO2 AG) nae Bale ia =" SOCIETATEA NATIONALA DE TRANSPORT GAZE NATURALE “TRANSGAZ" SA Coote social 1883 915,080.00 le omc! 132/301/2000, CLF: RO 13068 IDNO: 10176000520; Data inregistrarii: 18.12.2017
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