Slide 1: 9M 2022 Financial information
9M 2022 Financial information 10 November 2022
Slide 2: Catherine Macgregor, CEO
CATHERINE MACGREGOR CEO ENGIE 9M 2022 November 2022 2
Slide 3: Overview of 9M performance
OVERVIEW OF 9M PERFORMANCE ENGIE is delivering Playing a leading role Further progress on in unprecedented in security of supply execution of strategic market conditions and contributing to plan, disposal affordability measures programme nearly complete ENGIE 9M 2022 November 2022 3
Slide 4: ENGIE is delivering in unprecedented market conditions
ENGIE IS DELIVERING IN UNPRECEDENTED MARKET CONDITIONS • Operational performance enabling ENGIE to deliver in unprecedented market conditions EBIT – Growth across most activities, particularly from GEMS • CFFO improvement, up +€3.1bn €7.3bn • Performance plan on track Up 79% organically • Strong bal
Slide 5: Continuing actions to support security of supply
CONTINUING ACTIONS TO SUPPORT SECURITY OF SUPPLY • ENGIE managed through disruptions to Russian gas flows with no implications for physical supply Continued growth in renewable gases • Networks activities operating at high utilisation levels – GRTgaz transporting gas volumes from France to Germany B
Slide 6: Update on public policy measures to address affordability and security of supply
UPDATE ON PUBLIC POLICY MEASURES TO ADDRESS AFFORDABILITY AND SECURITY OF SUPPLY Inframarginal rent cap Existing profit-sharing Consumer support proposals expected to be and working capital measures & demand adopted by year-end support management In Belgium €130/MWh1, from Government profit-sharing
Slide 7: Further progress on execution of strategic plan
FURTHER PROGRESS ON EXECUTION OF STRATEGIC PLAN Realising the Renewables Accelerating strategic and growth on carbon neutrality geographic refocus track Completion of EQUANS ~ 37 GW 3 Coal at 2.6% of installed of centralised power ~ €11bn1 disposal, renewables capacity generation capacity programme
Slide 8: Operational progress across all GBUs
OPERATIONAL PROGRESS ACROSS ALL GBUS, UNDERPINNED BY STRENGTH OF ENGIE’S INTEGRATED MODEL Continuing development in Renewables Large portfolio of flexible generation • ~ 37 GW 1 GEMS: at the centre Thermal • 2.5 GW 1 added capacity in 9M: of ENGIE’s portfolio approach • Strong performance from Europ
Slide 9: 9M 2022 Financials, Pierre-François Riolacci, CFO
9M 2022 FINANCIALS PIERRE-FRANÇOIS RIOLACCI CFO ENGIE 9M 2022 November 2022 9
Slide 10: Continued positive momentum with strong earnings and high cash flow generation
CONTINUED POSITIVE MOMENTUM WITH STRONG EARNINGS AND HIGH CASH FLOW GENERATION • EBIT up 84% on a gross basis and 79% organically 9M RESULTS €bn, unaudited figures 1 Actual ∆ Gross ∆ Organic 2 • Strong cash flow generation EBITDA 10.7 +48% +45% • Strong performance driving improvement in credit rati
Slide 11: EBIT up +79% organically
EBIT UP +79% ORGANICALLY In unprecedented market conditions EBIT 7,254 +€3,200m organic (€m) +1,818 7,254 1,651 Others (o/w 2,000 (o/w GEMS) +1,650 from GEMS) Nuclear 984 Nuclear Supply +583 Others 620 Supply Energy Thermal +459 Thermal Scope -116 1,016 FX +236 Renewables Networks Solutions +259 Ene
Slide 12: GEMS
GEMS Unprecedented 2022 market conditions led to exceptional outperformance across GEMS activities 2 key drivers of performance: Key market drivers1 9M 9M YoY Volatility – optimization of flexibility embedded in our gas (€/MWh - month ahead) 2021 2022 delta portfolio and dynamic Customer risk manage
Slide 13: Cash flow from operations
CASH FLOW FROM OPERATIONS Higher CFFO supported by strong operating cash-flows and positive margin calls effect more than offsetting price impacts and supply tariff shields (€bn) Change in WCR: +0.3 +1.3 -0.3 -1.8 Net -0.5 8.4 +3.1 Taxes & receivables European Other interest Gas +3.2 supply changes
Slide 14: Net debt up, strong liquidity and rating maintained
NET DEBT UP, STRONG LIQUIDITY AND RATING MAINTAINED Liquidity of €21.8bn, including €15.3bn of cash Net Financial Debt Leverage ratios (€bn) 4.0x +2.2 +1.1 27.6 Others 5 +1.4 -1.7 +2.6 New rights 25.3 -8.4 Nuclear of use 4 3.6x +5.2 Scope 3 Dividends phase-out 2 (IFRS16) 2.8x CFFO Capex 1 Dec Sep 2.
Slide 15: FY 2022 guidance upgraded
FY 2022 GUIDANCE UPGRADED ENGIE’s expectations underpinned by strength of integrated model Key assumptions1 FX: EBITDA indication Rating • €/USD: 1.07 • €/BRL: 5.44 €13.2-14.2bn “Strong investment grade” Market commodity forward prices Economic Net Debt / EBITDA ≤ 4.0x over the long term Average Q2
Slide 16: Summary
SUMMARY ENGIE is delivering Playing a leading role Further progress on in unprecedented in security of supply execution of strategic market conditions and contributing to plan, disposal affordability measures programme nearly complete ENGIE 9M 2022 November 2022 16
Slide 17: Additional material
ADDITIONAL MATERIAL
Slide 18: 9M 2022 EBIT change by activity
9M 2022 EBIT CHANGE BY ACTIVITY Y/Y change (€m) Gross FX / Scope Organic Key drivers for organic change BRL appreciation Commissioning of new capacity Hydro buybacks (France and Portugal) RENEWABLES +223 Eolia acquisition in Spain +117 Higher prices in Europe (mainly benefitting to hydro) 20
Slide 19: EBIT breakdown
EBIT BREAKDOWN 1 9M 2022 Rest of Latin Northern (€m) France Europe America America AMEA Others TOTAL RENEWABLES 112 191 621 107 22 (10) 1,042 NETWORKS 1,258 25 487 (2) (3) 1,765 ENERGY SOLUTIONS 189 58 (5) 1 39 (105) 177 THERMAL 672 19 33 307 (15) 1,016 SUPPLY 507 92 6 25 (10) 620 NUCLEAR 984 984 2
Slide 20: 2022 updated commodity forward prices assumptions
2022 UPDATED COMMODITY FORWARD PRICES ASSUMPTIONS Commodity forward prices (average Q2 2022 – Q3 2022) Basis for the updated 2022 indications and guidance €/MWh 20221 Power Base BE 362 Power Base FR 615 Gas TTF 156 1 Relevant for the Q4 2022 unhedged volumes ENGIE 9M 2022 November 2022 20
Slide 21: Outright power production in Europe
OUTRIGHT POWER PRODUCTION IN EUROPE Nuclear and hydro 59 Hedging positions and captured prices (% and €/MWh) As at 30 September 2022 100% 96% 70% 46% 12% Belgium and France 159 107 82 81 59 2021 2022 2023 2024 2025 Captured prices are shown • before specific Belgian nuclear and French CNR hydro tax
Slide 22: 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 23: For more information about ENGIE
FOR MORE INFORMATION ABOUT ENGIE Ticker: ENGI +33 1 44 22 66 29 ir@engie.com https://www.engie.com/en/financial-results FOR MORE INFORMATION ABOUT 9M 2022 FINANCIAL INFORMATION: https://www.engie.com/en/finance/results/2022 ENGIE 9M 2022 November 2022 23