Slide 1: Half-Year Results 2024
=) D 25.07.2024 HALF-YEAR RESULTS 2024
Slide 2: Agenda
AGENDA a) (2) a FINANCIAL RESULTS
Slide 3: 1 H1 2024 Highlights
Slide 4: 2 Financial Results
Slide 5: H1 2024 Highlights: Strong Results in a Normalising Electricity Market
H1 2024 HIGHLIGHTS: STRONG RESULTS IN A NORMALISING ELECTRICITY MARKET f 159 ) Group C4 \. Eurotunnel (117 \ ElecLink (3,.\ Net % % m +1% : EBITDA EBITDA EBITDA Profit LD LD XD Normalisation as expected ay, » NEW INITIATIVES TO DELIGHT OUR CUSTOMERS FREIGHT leShuttle leShuttle (elecLink Gapporre + I
Slide 6: Solid Group Performance in H1
SOLID GROUP PERFORMANCE IN H1 EBITDA UNDERPINNED BY LEGACY BUSINESSES GROUP EBITDA GENERATION €500M €424M 207 117 markets D1 “ity 280 |_| Record railway 291 traffic H1 2023* Hi 2024 mEurotunnel mEuroporte © ElecLink *Restatedat H1 2024 average exchange rate: £1 = €1.172 €173M Group GROWING NET PROFI
Slide 7: Truck Market Share / Car Market Share
TRUCK MARKET SHARE: CAR MARKET SHARE:
Slide 8: A Continuous Improvement of Our Services to Customers
A CONTINUOUS IMPROVEMENT OF OUR SERVICES TO CUSTOMERS NEW DUTY-FREE OPERATOR ON NEW BOOKING WEBSITE NEW PARTNERSHIPS OUR FRENCH TERMINAL ALL leShutte duty-free space within the Passenger Terminal Building 75 2. Truck Shop duty-free space m in the freight terminal 1st time serving duty-free needs of
Slide 9: Border Crossing Services
Border Crossing Services Sanitary/ Phytosanitary (SPS) EU / UK Customs Fiscal Compliance & Advisory
Slide 10: Eurotunnel: Continuous Optimisation of Our Fare Structure
EUROTUNNEL: CONTINUOUS OPTIMISATION OF OUR FARE STRUCTURE REDUCTION IN ENERGY SURCHARGE IMPROVING COMPETITIVENESS MEW PALE SUE UU (w.» + Decrease in electricity costs enabled fe * Launch of phase 2 of fare structure Lay us to lower energy surcharge (EVA) to a optimisation enhancing customer offer SE
Slide 11: Eurotunnel: Continuous Optimisation of Our Cost Structure
EUROTUNNEL: CONTINUOUS OPTIMISATION OF OUR COST STRUCTURE “a \etty INFLATION IS NORMALISING Levels of inflation are progressively declining in the UK and in Europe ux 2.0% CPI in June (vs 4.0% in December 2023) () FRANCE 2.2% CPI in June (vs 3.7% in December 2023) Electricity costs (€/MWh) 743 47 74
Slide 12: ElecLink: Normalising Trends, as Expected
ELECLINK: NORMALISING TRENDS, AS EXPECTED EXCELLENT OPERATING PERFORMANCE (on) CS) REVENUES €M en? ay <S. €172M Availability rate Spread capture in H1 on long-term auctions 55) Average auction clearing WW price (€/MWh) H1 2023 H1 2024 H1 2023 H1 2024 Auctions mCapacity Markets m Ancillary MEBITDA mP
Slide 13: Europorte: Improved Profitability and Selective Growth
EUROPORTE: IMPROVED PROFITABILITY AND SELECTIVE GROWTH €83M REVENUE (+14% vs H1 2023) €16M EBITDA (+23% vs H1 2023) Europorte pursues its profitable growth through selective organic and externa development hu. d 25e7.2004. 13 GETLINK HALF-YEAR RESULTS 2024 PRR aE at:
Slide 14: Accessibility by Google Lighthouse
• • • • • • • Accessibility by Google Lighthouse
Slide 15: 2 Financial Results
Slide 16: Eurotunnel in H1 2024: Revenue and EBITDA
EUROTUNNEL IN H1 2024 REVENUE AND EBITDA €M H1 2024 H1 2023* CHANGE (om Revenue 540 537 +1% g ey Shuttle Services 328 343 4% 193 181 +7% Railway Network STRONG RESULTS Other " “ +46% UNDERPINNED BY Operating costs (249) (257) -3% PASSENGER TRAFFIC EBITDA 291 280 +4% * Restated at H1 2024 average exc
Slide 17: Eurotunnel in H1 2024: Operating Costs
EUROTUNNEL IN H1 2024 OPERATING COSTS LOWER ENERGY CHARGES AND STRICT COST ‘ao Gerinticontivestrsl Peery DISCIPLINE ENABLE INFLATION TO BE OFFSET 227) disciplined on costs: 280 Energy costs (mainly electricity) are ” 8 H progressively normalising allowing us to reduce our EVA* for trucks (-€9M vs H1
Slide 18: ElecLink in H1 2024: Revenue and EBITDA
ELECLINK IN H1 2024 REVENUE AND EBITDA €M H1 2024 H1 2023 CHANGE Revenue 185 330 44% EY) Operating costs (excluding (13) (11) +18% profit sharing provision) EBITDA pre-profit sharing ELECLINK REVENUE AND provision 172 319 A6% EBITDA IN LINE WITH Interconnector profit sharing (55) (112) 51% ELECTRICI
Slide 19: Europorte in H1 2024: Revenue and EBITDA
EUROPORTE IN H1 2024 REVENUE AND EBITDA YE STRONG PROFITABLE GROWTH €M H1 2024 H1 2023 CHANGE Revenue 83 73 +14% Operating costs (67) (60) +12% EBITDA 16 13 +23% lan zsorz = {19 GETLINK G
Slide 20: Getlink in H1 2024: Consolidated P&L
GETLINK IN H1 2024 CONSOLIDATED P&L €M H1 2024 H1 2023 CHANGE Revenue 808 940 -14% Operating costs (329) (328) - Provision for profit sharing ElecLink (55) (112) -51% EBITDA 424 500 -15% EBIT 302 378 -20% Net finance costs?) (144) (190) -24% Taxes!) 15 (28) - Net consolidated profit 173 161 +7% (1)
Slide 21: Getlink in H1 2024: Strong Operating Cash Flow
GETLINK IN H1 2024 STRONG OPERATING CASH FLOW €M H1 2024 H1 3 CHANGE Operating cash flow 457 539 82 Capex* (67) (52) +15 Debt service (116) (132) -16 ofw Scheduled debt repayment (40) (37) 43 * Excluding investment in new ac ies and movement in cash management financial assets *4Operating cash flow
Slide 22: The Group Continues Its Strong Cash Generation
THE GROUP CONTINUES ITS STRONG CASH GENERATION FREE CASH FLOW €274M (after €40M scheduled debt repayment) cy NET DEBT: €3,737M (+€108M) [ime] CASH POSITION** AT €1,497M IMPROVING CREDIT METRICS S&P upgraded to BB (vs BB-/positive) Operating cash flow Investments Others previously Net debt Dec 2023 D
Slide 23: 3 Outlook
Slide 24: 2024: Positive Structural Changes Are Being Implemented
2024: POSITIVE STRUCTURAL CHANGES ARE BEING IMPLEMENTED Enforcement of the law in France on 15t July 2024 » Training of inspection teams underway First controls expected after summer @ Seafarers’ wages bills adopted in 2023 — 1 IS » Implementation postponed after elections HALF-YEAR RESULTS 2024 a)
Slide 25: New Opportunities in the High-Speed Rail Sector
2024: POSITIVE STRUCTURAL CHANGES ARE BEING IMPLEMENTED NEW OPPORTUNITIES IN THE HIGH-SPEED RAIL SECTOR f SCHENGEN NEWS EUROSTAR’S LONDON-AMSTERDAM Refurbishment works started mid-June, for 6 aes months, during which direct service from Amsterdam to London is closed and reduced FROM JUNE 2024 freque
Slide 26: EES: We Are Ready for These Upcoming New Checks
EES: WE ARE READY FOR THESE UPCOMING NEW CHECKS Y) Civil works in Coquelles and Folkestone completed Y) Robustness of our operational model tested using digital terminal twins @ Biometric kiosks delivered and installed @ Recruitment plan launched End-to-end testing of IT systems with the French DG H
Slide 27: ElecLink Continues to Seize Opportunities
ELECLINK CONTINUES TO SEIZE OPPORTUNITIES GOOD VISIBILITY OF FUTURE REVENUES CURRENT MARKET CONDITIONS ENABLE TO LOCK-IN SOLID REVENUES* % capacity sold 85% 350 3 300 250 200 150 39% 100 34 T% 50 5 0 = FY 2024 FY 2025 FY 2026 m Auctions Capacity markets mAncillary €324M OF REVENUE SECURED FOR 2024 C
Slide 28: 2024 Outlook: Normalisation at a High Level
2024 OUTLOOK: NORMALISATION AT A HIGH LEVEL WE CONFIRM OUR EBITDA EXPECTATIONS BETWEEN €780-830M EBITDA RANGE OF €780-830M 7 > } ~~ & Wattl | 2016 2017 2018 2019 2020 2021 2022 2023 2024e Eurotunnel _mEuroporte © ElecLink Note: At the exchange rate of £1:€1.15 * After ElecLink provision for profit s
Slide 29: METI &.
6 METI &. WAL KK ALWAG On THE MOVE 12 juin 2024 i) I> CED. A GETLINK COMPANY HALF-YEAR RESULTS 2024 a) soz (2) GETLINK
Slide 30: Contacts
CONTACTS fe’ NT Virginie Rousseau Capital Markets Director &% virginie.rousseau@getlinkgroup.com & +33 677 41 03 39
Slide 31: Annex
Slide 32: Definitions & Accounting Principles
DEFINITIONS & ACCOUNTING PRINCIPLES EBITDA In this presentation, EBITDA is equivalent to current EBITDA as defined in note D.4 of the 2023 consolidated financial statements : “Current EBITDA as used by the Group is a non-GAAP indicator. It is calculated by adding back depreciation charges to the tra