Slide 1: Half-Year Results
2026 Half-Year Results 08 SEPTEMBER 2026
Slide 2: Agenda
2026 Half-Year Results Agenda 01 • H1 2026 Highlights 04 • Wrap-up & Outlook 02 • H1 2026 Operations 05 • Q&A 03 • H1 2026 Financial Results 06 • Appendix 2026 Half-Year Results
Slide 3: H1 2026 Highlights
01 H1 2026 Highlights Clarisse GOBIN-SWIECZNIK Managing Partner
Slide 4: Strong H1, leading way to upgrade of 2026 guidance
01 Strong H1, leading way to upgrade of 2026 guidance STRONG PERFORMANCE DISCIPLINED EXECUTION 2026 GUIDANCE UPGRADE ACROSS THE BOARD ● All regions and activities showed ● +18% in EBITDA to €434m ● Solid H1 operating solid growth: performance even in a high ▪ Energy distribution volume +9% oil price
Slide 5: H1 2026 Operations
02 H1 2026 Operations Jean-Christian BERGERON Managing Partner, CEO of Rubis Énergie
Slide 6: Profitable growth across all three distribution activities
02 Profitable growth across all three distribution activities LPG Distribution Fuel Distribution Bitumen Distribution Europe and Africa mainly Caribbean and Africa mainly Africa mainly – Ramp-up in Europe H1 2026: +1% vol & +9% gross margin H1 2026: +6% vol & +13% gross margin H1 2026: +44% vol & +5
Slide 7: Renewable energies
02 Renewable energies Photosol reached a key milestone – Rubis Énergie: new projects launched in Africa and the Caribbean Europe A market driven by electrification and covered by Photosol H1 2026 Photosol performance Full commissioning of Creil solar plant – 2nd largest in France – 200 MWp +32% asse
Slide 8: H1 2026 Financial Results
03 H1 2026 Financial Results Marc JACQUOT Managing Partner, Group CFO
Slide 9: H1 2026 Key figures
03 H1 2026 Key figures Strong operating performance, cash flow generation impacted by high oil prices EBITDA CAPEX Underpinned by strong demand and CORP NET FINANCIAL DEBT (1) 164 €885M efficient inventory management (IN €M) 1.3X EBITDA 137 €434M (1) 74 financed w/ non-recourse debt financed w/ +0.3
Slide 10: Business performance
03 Business performance Strong demand – seamless execution – efficient inventory management - EBITDA +18% yoy EBITDA BRIDGE – H1 2025 – H1 2026 (€M) ENERGY DISTRIBUTION RENEWABLE ELECTRICITY PRODUCTION 4 434 16 4 -3 13 30 Including contribution from new bitumen activity 369 €59m increase, +22% yoy R
Slide 11: Financial results
03 Financial results Income statement H1 2026 H1 2025 Var Var % EBITDA 434 369 65 +18% o/w Energy Distribution - Retail & Marketing 324 265 59 +22% • Hyperinflation (Haiti) impact €7m o/w Energy Distribution - Support & Services 111 114 -3 -2% o/w Renewable Electricity Production 15 10 4 +42% o/w Ru
Slide 12: Net debt evolution
03 Net debt evolution Healthy balance sheet – Change in WC impacted by high oil prices - Stable corporate leverage at 1.3x Including payment of ADLC fine for Corsica case for €64m In million euros Free Cash Flow(4) net of Photosol non-recourse financing 91 1,466 €75m 253 564 1,166 137 30 174 -450 88
Slide 13: Wrap-up & Outlook
04 Wrap-up & Outlook Clarisse GOBIN-SWIECZNIK and Jean-Christian BERGERON Managing Partners
Slide 14: H1 2026 Key Take-aways
04 H1 2026 Key Take-aways Strong delivery in a volatile and high oil price environment demonstrating execution capabilities STRONG DEMAND, ROBUST ROBUST CASH FLOW, HEALTHY PERFORMANCE AND OPTIMISED AND STABLE BALANCE SHEET INVENTORY MANAGEMENT STRONG H1 2026 CASH FLOW FROM OPERATIONS DRIVEN BY SOLID
Slide 15: 2026 Updated Outlook
04 2026 Updated Outlook Strong H1 2026 enabling guidance upgrade H2 2026 OUTLOOK UPDATED GUIDANCE The Group expects the sustained high oil prices to weigh on demand ● The Caribbean ▪ Continued recovery of Haiti operations ● EBITDA €775-825m (from €740-790m) ▪ Growth driven by tourism and development
Slide 16: Q&A
05 Q&A
Slide 17: Appendix
Appendix en ( rubis
Slide 18: Rubis footprint
06 Rubis footprint Addressing fit-for-purpose demand with tailored energy solutions AFRICA CARIBBEAN EUROPE Developing market Fragmented market Mature market - Electrification 13 Fuel = 94% of 7 25 Fuel = 63% of 199 MWp countries volume distributed countries countries volume distributed in operation
Slide 19: Photosol portfolio as of June 2026
06 Photosol portfolio as of June 2026 Project pipeline 5.3 GWp -6% vs Jun-25 3.7 3.3 3.2 2.8 2.5 2.5 2.5 2.0 1.9 Secured porfolio 1.5 GWp +22% vs Jun-25 799 607 633 581 513 290 340 267 135 In operation Under construction Ready-to-Build Advanced development Development Early stage Jun-25 Dec-25 Jun-2
Slide 20: Energy Distribution operating performance
06 Energy Distribution operating performance (in million euros) H1 2026 H1 2025 Var % Var Retail & Marketing Volume ('000m3) 3,476 3,203 +9% 273 o/w Europe 606 502 +21% 104 o/w Carribean 1,318 1,196 +10% 122 o/w Africa 1,552 1,506 +3% 46 Gross margin 497 429 +16% 68 o/w Europe 137 122 +12% 14 o/w Ca
Slide 21: Extra-financial ratings
06 Extra-financial ratings Rating scale Rubis Performance + to - 2026 versus sector For the third consecutive year, Rubis has received an AA MSCI ESG rating, placing it among the leaders in its AAA to CCC AA industry in terms of environmental, social, and governance management. Rubis’ overall exposu
Slide 22: Reminder: Photosol Day ambitions
06 Reminder: Photosol Day ambitions 2022 2023 2024 … 2027 Secured portfolio(1) 503 MWp 893 MWp 1 GWp … > 2.5 GWp Consolidated EBITDA(2) €18M €29M €18-20M … €50-55M of which c.10% EBITDA contribution from farm-down Power EBITDA(3) €22M €34M €35-37M … €80-85M of which one-off impact of €4m due to emer
Slide 23: Stages of a photovoltaic project
06 Stages of a photovoltaic project Under In Early stage Development Advanced development Ready to build construction operation ~ 7 years Permit Permit Permit application Permit application Land application obtained Connectable secured preparation submission considered complete to grid Tariff Financ
Slide 24: Financial calendar – Roadshows & Conferences
06 Financial calendar – Roadshows & Conferences • Roadshows post H1 2026 results ▪ Paris: 08 | 09 | 26 (CM-CIC) ▪ US (Chicago – NYC – Boston): 14-18 | 09 | 26 (CM-CIC) ▪ Asia (HK – Tokyo – Singapore): 25-29 | 09 | 26 (Mizuho) • Field trip ▪ South Africa (Cape Town): 7-9 | 10 | 26 • Conferences ▪ Lon
Slide 25: Next events
Next events Q3 2026 Trading update: 03 | 11 | 2026 Q4 & FY 2026 results: 11 | 03 | 2027 Photos credits: @ Gilles Dacquin © Rubis photo library DISCLAIMER This presentation does not constitute or form part of any offer or solicitation to purchase or to sell Rubis’ securities. Should you need more det