Slide 1: Full-Year Results 2025
FULL-YEAR RESULTS 2025 26/02/2026
Slide 2: Disclaimer
DISCLAIMER All forward-looking statements in this presentation are Getlink SE’s present expectations of future events and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. For a detailed d
Slide 3: Agenda
AGENDA 1 2025 HIGHLIGHTS 2 2025 FINANCIAL RESULTS 2026 3 OUTLOOK 3
Slide 4: 2025 Highlights: EBITDA above guidance
2025 Highlights: EBITDA above guidance EBITDA MAJOR ACROSS BUSINESSES MILESTONES €859m Eurotunnel High Speed Rail Group EBITDA +5% Major steps successfully achieved Eleclink towards the opening of new +4% v s 2 0 2 4 * destinations & the arrival of new players €55m insurance compensation Stable EBIT
Slide 5: 2025 Highlights
2025 HIGHLIGHTS Yann Leriche, Chief Executive Officer Full-Year Results 2025
Slide 6: 2025 Group results: Eurotunnel & Europorte EBITDA at record highs
2025 Group results: Eurotunnel & Europorte EBITDA at record highs +4% Group EBITDA generation €859m €826m* €320m Normalisation of electricity markets & suspensions Net profit 159 158 Group +3% vs 2024* 32 34 +6% 635 667 €3,392m Net Debt +5% Group -€184m vs 2024 2024* 2025 Eurotunnel Europorte Elecli
Slide 7: LeShuttle Passenger: Continuous focus on customer satisfaction
LeShuttle Passenger: Continuous focus on customer satisfaction supporting our attractiveness TRAFFIC CAR MARKET SHARE: +80bps NPS* Score 2,234,093 vehicles** + 2% vs 2024 56.1% 44 vs 44 FY 2025 vs FY 2024 • Increased market share driven by a successful customer-centric strategy • Market leader posit
Slide 8: LeShuttle Freight: Resilient in a demanding environment
LeShuttle Freight: Resilient in a demanding environment TRAFFIC TRUCK MARKET SHARE: -20bps NPS* Score 1,163,124 trucks -3% vs 2024 35.4% 65 vs 56 FY 2025 vs FY 2024 1st electric truck • Stable market share in a competitive environment to cross Channel Tunnel • Excellent customer satisfaction (improv
Slide 9: Eurotunnel: Quality of service to support yield optimisation
Eurotunnel: Quality of service to support yield optimisation REDUCTION IN ENERGY SURCHARGE IMPROVING COMPETITIVENESS +3% • Decrease in electricity costs enabled us to lower energy surcharge (EVA) to €19 in 2025 (vs. €22 in 2024) TRUCKS • Inflation price increases maintained NEW FARE STRUCTURE avg. S
Slide 10: Eurotunnel: A new record high for High Speed Rail
Eurotunnel: A new record high for High Speed Rail High-Speed Rail passenger numbers reached another record high in 2025 (K pax) Increased capacity to meet rising demand +5% London–Paris +6% vs 2024 11,815 11,047 11,201 10,972 10,716 London–Amsterdam Reopening of direct service between Amsterdam-Lond
Slide 11: Eurotunnel: Acceleration of the agenda for new High Speed Rail services
Eurotunnel: Acceleration of the agenda for new High Speed Rail services Major investment in new trains and new direct routes ORR decision to grant access to Plan to build a new facility outside Order of 30 new double-decker trains, Temple Mills Depot to Virgin trains of Paris to store a fleet of 10
Slide 12: Eurotunnel: Continued disciplined cost & project management
Eurotunnel: Continued disciplined cost & project management Maintaining strict cost discipline Targeted investment to renew key assets thanks to lean & digital initiatives and strengthen future profitability Continued focus on delivering Rigorous approach to maintaining high levels our services at b
Slide 13: Eleclink: High attractivity of the asset
Eleclink: High attractivity of the asset Compelling electricity spreads Strong contribution despite 2024 & 2025 outages UK-FR spreads (€/MWh) Revenues (€m) 60 Activity suspension periods: 280 -20% 25 Sept 2024 - 5 Feb 2025 50 19 May - 2 June 2025 40 4 43 225 30 6 20 37 10 0 233 182 Cal-27 Cal-28 Sum
Slide 14: Europorte: Continuous focus on profitability
Europorte: Continuous focus on profitability EBITDA Revenue €34m +6% vs 2024 €172m +2% vs 2024 Improved profitability in a competitive rail freight market Full-Year Results 2025 14
Slide 15: Confirmed ESG leadership: 2025 key milestone achieved
Confirmed ESG leadership: 2025 key milestone achieved Decarbonisation targets reached Confirmation of our ESG Strategy relevance GHG reduction in Scopes 1 & 2 (vs 2019) CDP A List for the 2nd year in a row -30% Among 4% of companies worldwide acknowledged for 2025 TARGET demonstrating environmental
Slide 16: 2025 Financial Results
2025 FINANCIAL RESULTS Géraldine Périchon, Deputy CEO & Chief Financial Officer Full-Year Results 2025
Slide 17: Eurotunnel in 2025
Eurotunnel in 2025 Revenue and EBITDA €m 2025 2024* change Good results underpinned by Revenue 1,198 1,157 +4% passenger traffic (LeShuttle Passenger and High Speed Rail) Shuttle Services 738 721 +2% and active yield management Railway Network 411 395 +4% Other revenue driven by Other 49 41 +20% Get
Slide 18: Eurotunnel in 2025: Operating costs
Eurotunnel in 2025 Operating costs (€m) 7 8 531 -7 531 522 7 522 0 A confirmed focus on operating cost -6 discipline via lean management programmes, new activities and innovation Inflation Activity Taxes Maintenance Development Productivity 2024 incl. energy 2025 & social & scope effects & other con
Slide 19: Business rates: Eurotunnel to challenge the unjustified planned increase
Business rates: Eurotunnel to challenge the unjustified planned increase Business Rates £ Eurotunnel’s = ( £ Rateable value increase x % Multiplier 0.508 in 2026-2027 ( - Eligible transitional relief by ~200% Assuming above calculation, annual cumulative increase in the charge* 2026 + c.€6m 2027 + c
Slide 20: Eleclink in 2025
Eleclink in 2025 Revenue and EBITDA €m 2025 2024 change Eleclink performance impacted by evolution of electricity market and Revenue 225 280 -20% suspension of activity* Other income** 55 - A total amount of €55 million in Operating costs insurance compensation recorded in (42) (45) -7% (excl. profi
Slide 21: Eleclink: Discussions have progressed on profit-sharing mechanism
Eleclink: Discussions have progressed on profit-sharing mechanism Before After Discussions with regulators have helped ≤ IRR threshold > IRR threshold confirm certain key parameters Impact on EBITDA used for the provision calculation Provision Provision for profit-sharing for profit-sharing Impact o
Slide 22: Europorte in 2025
Europorte in 2025 Revenue and EBITDA €m 2025 2024 change A solid profitability illustrating the contract selectivity and discipline Revenue 172 168 +2% in operations Operating costs (138) (136) +1% EBITDA 34 32 +6% Full-Year Results 2025 22
Slide 23: Getlink in 2025: Consolidated P&L
Getlink in 2025 Consolidated P&L €m 2025 2024* change Revenue 1,595 1,605 -1% Other income** 55 - - Operating costs (791) (779) +2% o/w provision for Eleclink profit sharing (80) (76) +5% EBITDA 859 826 +4% EBIT 609 591 +3% Net finance costs (293) (292) +0% Taxes 4 13 - Net consolidated profit 320 3
Slide 24: Getlink in 2025: Net Finance Costs
Getlink in 2025 Net Finance Costs €m 2025 2024(1) change Interest receivable 44 66 -22 Other net financial charges (2) (14) (42) +28 Net Finance Costs globally flat with Interest on loans (202) (206) +4 an increase in inflation indexed debt costs more than offset by a positive Amortisation of hedgin
Slide 25: Getlink in 2025: Free Cash Flow
Getlink in 2025 Free Cash Flow €m 2025 2024 change Operating cash flow was impacted by lower Eleclink contribution. Only €5m Operating cash flow 816 865 -49 of the compensation (out of €55m agreed with insurers) was received in Capex(1) (190) (155) -35 2025. o/w Eurotunnel (181) (144) -37 2/3 of Eur
Slide 26: The Group continues its strong cash generation
The Group continues its strong cash generation Evolution of net debt (€m) Free Cash Flow €374m FCF* €374m (after €88m scheduled debt repayment) 3,576 314 - 124 3 ,392 Net debt €3,392m (-€184m vs 31 December 2024) 190 252 Cash position** - 816 €1,498m (vs € 1,699m at 31 December 2024) Successful issu
Slide 27: 2026 Outlook
2026 OUTLOOK Yann Leriche, Chief Executive Officer Full-Year Results 2025
Slide 28: 2026: Main highlights of the start of the year
2026: Main highlights of the start of the year LeShuttle Eleclink continued to secure revenue January traffic … above investment case scenario impacted by December disruptions Eleclink secured revenue* & adverse weather conditions (in €m as of 15 February 2026) % capacity sold Truck Shuttle Passenge
Slide 29: 2026 Guidance: EBITDA expected between €820m & €860m
2026 Guidance EBITDA EXPECTED BETWEEN €820m & €860m * This guidance* takes into account 01 Reasonable growth assumptions for Eurotunnel based on the commercial momentum observed at the beginning of the year in a competitive environment. The central scenario assumes the gradual implementation of EES
Slide 30: A reset of our shareholder remuneration
A reset of our shareholder remuneration €0.80* €0.58 €0.55 * €0.80 €0.50 €0.36 Dividend per share €0.10 €0.05 2019 2020 2021 2022 2023 2024 2025 2026 * Subject to Annual General Meeting approval on 27 May 2026 Full-Year Results 2025 30
Slide 31: Q&A
AGENDA Q&A Full-Year Results 2025
Slide 32: Presentation & Strategic sessions, 26 February 2026
Thursday, 26 February 2026 14:00 - 17:30 CET Presentation & Strategic sessions Live webcast Full-Year Results 2025 32
Slide 33: Contact
CONTACT Virginie Rousseau Capital Markets Director virginie.rousseau@getlinkgroup.com +33 6 77 41 03 39 Dana Badaoui Investor Relations dana.badaoui@getlinkgroup.com +33 6 80 01 39 46 33
Slide 34: Getlink