Slide 1: FY 2025 Results - UK Power Networks acquisition
FY 2025 Results UK Power Networks acquisition 26 February 2026 1 ENGIE FEBRUARY 2026
Slide 2: Agenda
AGENDA PART 1 PART 2 PART 3 FY 2025 UK Power Networks Medium-term outlook Results 01 Perfect 01 Strategic overview strategic fit 02 Capital allocation 02 Valuation and and outlook financing plan 03 Concluding remarks and Q&A 2 ENGIE February FEBRUARY 2026 2026
Slide 3: FY 2025 Results
PART 1 FY 2025 RESULTS FY 2025 RESULTS CATHERINE MACGREGOR 3 ENGIE FEBRUARY 2026
Slide 4: FY 2025: Extending our track record of strong performance
PART 1 FY 2025 RESULTS FY 2025: EXTENDING OUR TRACK RECORD OF STRONG PERFORMANCE Another robust Strong strategic A pivotal year Proposed financial achievement in Belgium dividend performance with flagship of €1.35 per reaching the top end projects share of the guidance range 4 ENGIE February FEBRUAR
Slide 5: Earnings at the upper end of guidance, proposed dividend of €1.35
PART 1 FY 2025 RESULTS EARNINGS AT THE UPPER END OF THE GUIDANCE, WITH PROPOSED DIVIDEND OF €1.35 EBIT ex. Nuclear NRIgs CFF0 1 DIVIDEND €8.8bn €4.9bn €13.6bn €1.35 vs. 8.9bn in 2024 vs. 5.5bn in 2024 Up €0.6bn per share 1 Cash Flow From Operations = Free Cash Flow before Maintenance Capex and nucle
Slide 6: Renewables and storage: record year for new capacity
PART 1 FY 2025 RESULTS RENEWABLES AND STORAGE : RECORD YEAR FOR NEW CAPACITY Significant More integrated in markets A global leader additional where we have recently in green PPAs capacity been expanding 6.2 GW Brazil: commissioning of our largest onshore windfarm in the world 4.8 GW commissioned in
Slide 7: A pivotal year in Belgium
PART 1 FY 2025 RESULTS A PIVOTAL YEAR IN BELGIUM Nuclear • Successful execution of works at Tihange 3 and Doel 4 now operated via quasi regulated JV • Payment of the second and final instalment for the transfer of waste liabilities • No merchant nuclear output in Belgium Flexible assets since Decemb
Slide 8: FY 2025 Results
PART 1 FY 2025 RESULTS FY 2025 RESULTS PIERRE-FRANÇOIS RIOLACCI 8 ENGIE FEBRUARY 2026
Slide 9: Financial performance highlights
PART 1 FY 2025 RESULTS FINANCIAL PERFORMANCE HIGHLIGHTS Solid EBIT progress and excellent cash FY RESULTS ∆ ∆ €bn, unaudited figures1 Actual Gross Organic2 flow delivery EBITDA (excl. Nuclear) 13.4 0% +3% • EBIT (excluding Nuclear) at €8.8bn, up 2% EBIT (excl. Nuclear) 8.8 -2% +2% organically, with
Slide 10: EBIT evolution analysis
PART 1 FY 2025 RESULTS EBIT EVOLUTION ANALYSIS EBIT (excl. Nuclear) (€m) Growth -326 +43 8,757 8,893 Momentum FX -169 -611 +823 8,757 Supply & Others 2,357 Energy Scope -157 Price -572 +507 Performance Management & Sustained by Volatility Volumes Commissioning Investments 3,536 Infrastructures & €+1
Slide 11: Renewable & Flex Power
PART 1 FY 2025 RESULTS RENEWABLE & FLEX POWER Investments and performance actions delivering strong contribution OUTRIGHT VOLUMES +3% ACHIEVED PRICES1 HYDRO CNR FRANCE HYDRO FRANCE CAPACITY ADDITIONS2 organic variance (€/MWh) (TWh) (GW) 6.2 +4% 0.8 M&A -229 +144 -32 18.4 -3.9 TWh Scope & Renewable G
Slide 12: Infrastructures
PART 1 FY 2025 RESULTS INFRASTRUCTURES Organic growth underpinned by Networks +24% FRENCH RAB1 POWER organic variance Local Energy (€bn) TRANSMISSION +2 482 +682 Infrastructures LENGTH Local 32.1 32.1 (km) -69 Networks Energy 4.5 4.4 Storengy Infrastructures 5,892 Scope & NaTran FX 10.3 10.1 & Eleng
Slide 13: Supply & Energy Management
PART 1 FY 2025 RESULTS SUPPLY & ENERGY MANAGEMENT 2025 reflects market normalization, yet commercial momentum remains strong -24% organic variance Key Energy Management drivers1 -11 (€/MWh) FY -193 Var. +131 -671 2025 Scope & FX B2C B2B Energy Energy Price TTF (€/MWh) 36 +2 Management 632 Management
Slide 14: Nuclear
PART 1 FY 2025 RESULTS NUCLEAR Year-on-year decline reflecting the impact of nuclear phase-out, lower prices and high availability -51% VOLUMES BE+FR CAPTURED organic variance @SHARE PRICES1 (TWh) (€/MWh) 0 -149 Scope 31.5 -10% & FX Prices -26% 105 23.4 95 -635 EBIT(€m) 1,448 1,448 +50 Volumes D&A a
Slide 15: Outstanding performance contribution
PART 1 FY 2025 RESULTS OUTSTANDING PERFORMANCE CONTRIBUTION Operational excellence 2025 progress • Renewables : PPA renegotiations, asset optimizations €823m • LEI : contract portfolio cleaning, pricing improvements • Others: margin efficiency and lifetime extension 310 for Flex Power, procurement,
Slide 16: Overview of P&L from EBITDA to net income
PART 1 FY 2025 RESULTS OVERVIEW OF P&L FROM EBITDA TO NET INCOME From EBITDA to NRIgs From NRIgs to NIgs FY FY FY (€bn) 2025 2024 Delta (€bn) 2025 EBITDA 14.7 15.6 -0.8 NRIgs 4.9 D&A and others (5.3) (5.2) -0.0 Impairment (0.8) EBIT 9.5 10.3 -0.9 Restructuring costs (0.3) Recurring financial result1
Slide 17: Cash flow from operations
PART 1 FY 2025 RESULTS CASH FLOW FROM OPERATIONS (€bn) +0.6 -0.2 +0.8 -0.1 -0.9 Nuclear +0.5 Other Taxes & Margin changes interest Operating -0.2 Operating Excellent cash 13.1 cash flow Inventory Net Calls in WCR paid 13.6 generation Working Capital supported by o/w positive WCR Nuclear €1.6Bn dynam
Slide 18: Stable credit ratios, rating maintained
PART 1 FY 2025 RESULTS STABLE CREDIT RATIOS, RATING MAINTAINED Net Financial Debt Leverage ratios (€bn) +8.4 -1.5 4.0x 38.9 33.2 +4.5 3.1x Nuclear Others 3.1x Delivering -13.6 +7.9 Dividends funding & costs 2.6x 2.1x strong Dec 2024 CFFO Capex 1 Dec 2025 cash flow 4.6% Average cost of gross debt 4.0
Slide 19: UK Power Networks: acquiring the best-in-class regulated power distribution network in the UK
UK Power Networks: acquiring the best-in-class regulated power distribution network in the UK 26 February 2026
Slide 20: Agenda
AGENDA PART 1 PART 2 PART 3 FY 2025 UK Power Networks Medium-term outlook Results 01 PERFECT 01 Strategic overview STRATEGIC FIT 02 Capital allocation 02 Valuation and and outlook financing plan 03 Concluding remarks and Q&A 20 ENGIE February FEBRUARY 2026 2026
Slide 21: Perfect strategic fit
PART 2 - SECTION 01 PERFECT STRATEGIC FIT PERFECT STRATEGIC FIT CATHERINE MACGREGOR 21 ENGIE FEBRUARY 2026
Slide 22: Energy at top of countries' agendas
PART 2 - SECTION 01 PERFECT STRATEGIC FIT ENERGY AT TOP OF COUNTRIES’ AGENDAS Energy Transition Geopolitical uncertainty continuing momentum on the rise Electrification is underway, molecules are here to stay More frequent political and geopolitical turbulence Flexibility to bolster system resilienc
Slide 23: Decisive move towards our Best Energy Transition Utility ambition
PART 2 - SECTION 01 PERFECT STRATEGIC FIT DECISIVE MOVE TOWARDS OUR BEST ENERGY TRANSITION UTILITY AMBITION Unique opportunity to Growing, regulated Bolstering our Earnings accretive rebalance ENGIE predictable cashflows presence in the UK, from first full-year, portfolio towards to enhance our now
Slide 24: UK Power Networks, best-in-class regulated power distribution network in the UK
PART 2 - SECTION 01 PERFECT STRATEGIC FIT UK POWER NETWORKS, BEST-IN CLASS REGULATED POWER DISTRIBUTION NETWORK IN THE UK Leading DNO in UK, Track record of Mar-2024/25 key across 3 licenses (East of England, outstanding safety & indicators London and South-East of England) operational performance +
Slide 25: A decade of top performance amongst UK power DNOs
PART 2 - SECTION 01 PERFECT STRATEGIC FIT A DECADE OF TOP PERFORMANCE AMONGST UK POWER DNOs Track record of Outstanding Performance over RIIO-ED1 & the first two years of RIIO-ED2 RoRE1 over RIIO-ED1 (2015/16-2022/23) RoRE1 over the first two years of RIIO-ED2 (2023/24-2024/25) 12.0% 11.5% 11.0% 11.
Slide 26: Strong momentum for energy transition
PART 2 - SECTION 01 PERFECT STRATEGIC FIT STRONG MOMENTUM FOR ENERGY TRANSITION Massive electrification of usage expected, boosting networks investments Energy Transition at the heart of x2 by 20501 x2 by 20502 government Clean Power 2030 Action Plan: Electricity Electricity demand generation expect
Slide 27: UK regulation: stability, performance, customer-oriented
PART 2 - SECTION 01 PERFECT STRATEGIC FIT UK REGULATION: STABILITY, PERFORMANCE, CUSTOMER- ORIENTED A regulation that brings stable and predictable cash-flows with outperformance shared with customers 01 Stability & 02 Inflation & 03 Incentives transparency volume protection mechanism Promoting inve
Slide 28: Agenda
AGENDA PART 1 PART 2 PART 3 FY 2025 UK Power Networks Medium-term outlook Results 01 Perfect 01 Strategic overview strategic fit 02 Capital allocation 02 VALUATION AND and outlook FINANCING PLAN 03 Concluding remarks and Q&A 28 ENGIE February FEBRUARY 2026 2026
Slide 29: Valuation and financing plan
PART 2 – SECTION 2 VALUATION AND FINANCING PLAN VALUATION AND FINANCING PLAN PIERRE-FRANÇOIS RIOLACCI 29 ENGIE FEBRUARY 2026
Slide 30: Key valuation metrics
PART 2 – SECTION 2 VALUATION AND FINANCING PLAN KEY VALUATION METRICS In £bn The transaction • UKPN for GBP 15.8bn 15.8 5.3 1.0 • Estimated 2027 EBITDA multiple of c.10x, including the contribution of unregulated assets • As part of this transaction, ENGIE will 10.5 c.1.5x own 100 % and consolidate
Slide 31: UK Power Networks: solid financial results and outlook
PART 2 – SECTION 2 VALUATION AND FINANCING PLAN UK POWER NETWORKS: SOLID FINANCIAL RESULTS AND OUTLOOK UKPN’s full-year financials (April to March) Strong outlook £bn 03/22 03/23 03/24 03/25 £2.2bn gross capex EBITDA 1.3 1.4 1.2 1.8 over April 26 to March 28 EBIT 0.9 1.0 0.7 1.4 Net Income 0.3 0.6 0
Slide 32: Financing plan supported by strong balance sheet
PART 2 – SECTION 2 VALUATION AND FINANCING PLAN FINANCING PLAN SUPPORTED BY STRONG BALANCE SHEET Financing plan Accretive from year 1 ~€12bn ~€2bn And maintain Strong ~€3bn investment grade ~€4bn Up to €3bn Financing Needs Senior Debt Hybrids Disposals Equity issue through an ABB 32 ENGIE February F
Slide 33: Agenda
AGENDA PART 1 PART 2 PART 3 FY 2025 UK Power Networks Medium-term outlook Results 01 Perfect 01 STRATEGIC OVERVIEW strategic fit 02 Capital allocation 02 Valuation and and outlook financing plan 03 Concluding remarks and Q&A 33 ENGIE February FEBRUARY 2026 2026
Slide 34: Strategic overview
PART 3 - SECTION 01 STRATEGIC OVERVIEW STRATEGIC OVERVIEW CATHERINE MACGREGOR 34 ENGIE FEBRUARY 2026
Slide 35: ENGIE today
PART 3 - SECTION 01 STRATEGIC OVERVIEW ENGIE TODAY RENEWABLES NETWORKS SUPPLY & & €32bn ENERGY FLEX POWER Gas RAB MANAGEMENT 103 GW LOCAL ENERGY 500 TWh installed capacity INFRASTRUCTURES Sold o/w 232 TWh o/w 57 GW Renewables and BESS power B2B/B2C 372 DHC Networks 35 ENGIE February FEBRUARY 2026 20
Slide 36: Infrastructures and Renewable & BESS, the two pillars of our investment strategy
PART 3 - SECTION 01 STRATEGIC OVERVIEW INFRASTRUCTURES AND RENEWABLE & BESS, THE TWO PILLARS OF OUR INVESTMENT STRATEGY 2026-28 Total CAPEX 1 €34bn Renewables & BESS to ~ 44% €38bn DYNAMIC CAPITAL ALLOCATION with ~90% in Infrastructures renewables, batteries ~ 45% and Infrastructures 36 ENGIE Februa
Slide 37: Networks, best of both worlds: strong cashflow financing growth
PART 3 - SECTION 01 STRATEGIC OVERVIEW NETWORKS, BEST OF BOTH WORLDS: STRONG CASHFLOW FINANCING GROWTH RAB1 (in €bn) EBIT (in €bn) CFFO & Capex (in €bn) Power Power Power Gas c.50 Gas 4.6 – 5.0 Gas c.6 30-35% ~ 35% 37 3.1 4.4 6% 96% 7% ~ 70% 2.2 83% ~ 50% CFFO Capex CFFO Capex 2025 2028 2025 2028 20
Slide 38: 95 GW renewables and storage 2030 target confirmed
PART 3 - SECTION 01 STRATEGIC OVERVIEW 95 GW RENEWABLES AND STORAGE 2030 TARGET CONFIRMED BENEFITING FROM GROWING AND BALANCED PIPELINE Global Pipeline (at 100%) 2030 Installed Capacity (GW at 100%) 121 GW 11 LatAm 95 GW 121 All combined x2.6 technologies Development 51 46 Solar 115 Step +38 GW 53 A
Slide 39: Tech and data centers: capitalizing on our unique skillset
PART 3 - SECTION 01 STRATEGIC OVERVIEW TECH AND DATA CENTERS: CAPITALIZING ON OUR UNIQUE SKILLSET TOWARDS OUR 2030 TARGETS SPEED TO SPEED TO RELIABLE & COST-EFFECTIVE CONNECTED LAND ADDITIONAL POWER POWER SUPPLY 3-4 GW 5 GW 50 TWh datacenter load co-sited renewable and BESS power delivered by 2030 b
Slide 40: Steady growth in EBIT excluding nuclear from 2025
PART 3 - SECTION 01 STRATEGIC OVERVIEW STEADY GROWTH IN EBIT EXCLUDING NUCLEAR FROM 2025 €0.8 to 1.0bn Performance plan 7% EBIT CAGR 1 2026-2028 contribution over 2025-28 €2.7 to 3.1bn 2026-2028 contribution from Driven by investment investments including UKPN & performance plan 1. EBIT (excluding N
Slide 41: More balanced geographical footprint, UK now our 2nd country
PART 3 - SECTION 01 STRATEGIC OVERVIEW MORE BALANCED GEOGRAPHICAL FOOTPRINT, UK NOW OUR 2ND COUNTRY EBIT by geography • Top 5 countries in 3 regions 17% (Europe, Latam, Noram) UK • UK becomes our 2nd 35% country with a presence EBIT EBIT 13% across the whole value chain 2025 2028 (R&F, SEM and Netwo
Slide 42: Improved risk profile, with greater predictability
PART 3 - SECTION 01 STRATEGIC OVERVIEW IMPROVED RISK PROFILE, WITH GREATER PREDICTABILITY Risk profile • 67% EBIT regulated & long term contracted in 2028 up 67% from 42% in 2024 42% 55% • 15% merchant exposure in EBIT EBIT EBIT 2028 down from 45% in 2024 2024 2025 2028 Regulated / Long term contrac
Slide 43: ENGIE in 2030
PART 3 - SECTION 01 STRATEGIC OVERVIEW ENGIE IN 2030 RENEWABLES INFRASTRUCTURES SUPPLY & & ENERGY FLEX POWER €60bn MANAGEMENT RAB & 95 GW Capital employed 300 TWh Renewables and storage 10,000km 50TWh Power sales B2B/B2C of Biomethane capacity installed capacity transmission lines connected to Frenc
Slide 44: 2026-2028: mid-single digit earnings trajectory
PART 3 - SECTION 01 STRATEGIC OVERVIEW 2026-2028: MID-SINGLE DIGIT EARNINGS TRAJECTORY NRIgs 2025 2026 2027 2028 €4.9bn €4.6 to 5.2bn €4.9 to 5.5bn €5.2 to 5.8bn DIVIDEND POLICY Dividend policy reaffirmed Payout: 65-75% based on NRIgs Floor of €1.10 CREDIT RATING ‘Strong investment grade’ Economic n
Slide 45: Agenda
AGENDA PART 1 PART 2 PART 3 FY 2025 UK Power Networks Medium-term outlook Results 01 Perfect 01 Strategic overview strategic fit 02 CAPITAL ALLOCATION 02 Valuation and AND OUTLOOK financing plan 03 Concluding remarks and Q&A 45 ENGIE February FEBRUARY 2026 2026
Slide 46: Capital allocation and outlook
PART 3 – SECTION 2 CAPITAL ALLOCATION & OUTLOOK CAPITAL ALLOCATION AND OUTLOOK PIERRE-FRANÇOIS RIOLACCI 46 ENGIE FEBRUARY 2026
Slide 47: Delivering on the growth blueprint
PART 3 – SECTION 2 CAPITAL ALLOCATION & OUTLOOK DELIVERING ON THE GROWTH BLUEPRINT Dynamic Trajectory 2025-28 EBIT1 evolution (€bn) ~ 10.3 0.8 -0.3 7% EBIT1 CAGR to to 1.0 11.3 8.8 -0.2 over 2025-28 -0.4 to -0.7 Others FX -0.8 2.7 to Prices 3.1 Performance & Driven by investment & 5.2 volatility Inv
Slide 48: Cash equation & acquisition financing
PART 3 – SECTION 2 CAPITAL ALLOCATION & OUTLOOK CASH EQUATION & ACQUISITION FINANCING 20251 UKPN Financing 2026-281 (€bn) (€bn) (€bn) Equity 1.4 €2.8bn value Net ~12 Cash Generation 12-14 ~2 ~4 Disposals 4.3 13.6 ~2 Senior ~12 Debt 37-41 34-38 5.3 Hybrid ~3 debt 2.7 ~3 Capital increase Sources Uses
Slide 49: Double rebalancing towards regulated infrastructures and power networks
PART 3 – SECTION 2 CAPITAL ALLOCATION & OUTLOOK DOUBLE REBALANCING TOWARDS REGULATED INFRASTRUCTURES AND POWER NETWORKS Networks capital employed Group Capital employed ~100 Networks capital employed moving from €25bn to (€bn) ~€45bn 69 Power Networks 5 7 ~50% 23 of Networks’ 2 capital employed by 2
Slide 50: Improving risk profile, credit metrics & net debt
PART 3 – SECTION 2 CAPITAL ALLOCATION & OUTLOOK IMPROVING RISK PROFILE, CREDIT METRICS & NET DEBT Targeted Financial Debt Risk Profile Credit ratio structure post acquisition1 66% 67 Borrowings1 Net debt1 Net Debt1 Economic net debt / EBITDA EBIT 67% Bonds 56% EUR 91% Fix rate 2028 4.0x 33% Others 2
Slide 51: EBIT drivers by activity
PART 3 – SECTION 2 CAPITAL ALLOCATION & OUTLOOK EBIT DRIVERS BY ACTIVITY Renewables & Supply & Energy Infrastructures Flex Power Management 2021 2025 2028 2026-28 drivers 2026-28 drivers 2026-28 drivers EBIT EBIT + Investments contribution in + Acquisition of UKPN + Growth EBIT renewable and batteri
Slide 52: Strengthen financial profile supporting long-term value creation
PART 3 – SECTION 2 CAPITAL ALLOCATION & OUTLOOK STRENGTHEN FINANCIAL PROFILE SUPPORTING LONG-TERM VALUE CREATION Capital Allocation Framework Optimized framework supporting long term performance Strong Cash Leveraging improved risk profile to: Generation Preserve strong investment grade Reduce cost
Slide 53: 2026-28 financial outlook
PART 3 – SECTION 2 CAPITAL ALLOCATION & OUTLOOK 2026-28 FINANCIAL OUTLOOK 1 2021 2025 2026 2027 2028 EBITDA excl nuclear EBITDA excl nuclear EBITDA excl nuclear EBITDA excl nuclear EBITDA excl nuclear indication indication indication €9.2bn €13.4bn €13.8 to 14.8bn €15.3 to 16.3bn €16.0 to 17.0bn EBI
Slide 54: Agenda
AGENDA PART 1 PART 2 PART 3 FY 2025 UK Power Networks Medium-term outlook Results 01 Perfect 01 Strategic overview strategic fit 02 Capital allocation 02 Valuation and and outlook financing plan 03 CONCLUDING REMARKS AND Q&A 54 ENGIE February FEBRUARY 2026 2026
Slide 55: Concluding remarks
PART 3 - SECTION 03 CONCLUDING REMARKS CONCLUDING REMARKS CATHERINE MACGREGOR 55 ENGIE FEBRUARY 2026
Slide 56: Our capital allocation framework
PART 3 – SECTION 3 CONCLUDING REMARKS OUR CAPITAL ALLOCATION FRAMEWORK Strong Cash Generation Investment Profit growth & In LT contracted and Shareholders’ Regulated Assets return or High-returns BESS Performance across all assets and businesses 56 ENGIE February FEBRUARY 2026 2026
Slide 57: Additional material
ADDITIONAL MATERIAL
Slide 58: FY 2025 EBIT change by activity
FY 2025 ADDITIONAL MATERIALS FY 2025 EBIT CHANGE BY ACTIVITY Gross Organic (€m) FY 25 Key drivers Variance Variance Renewable & Contribution from capex, lower hydro tax in France 2,485 +93 +144 BESS Lower volumes (hydro and onshore wind), FX (BRL, USD) no inframarginal tax in France in 2025, p
Slide 59: EBIT breakdown
FY 2025 ADDITIONAL MATERIALS EBIT BREAKDOWN FY 2025 Rest of Latin Northern (€m) France Europe America America AMEA Others TOTAL RENEWABLE & FLEX POWER 635 635 1,253 736 402 (84) 3,577 Renewable & BESS 468 444 895 664 96 (82) 2,485 Gas Generation 167 191 358 72 306 (1) 1,093 INFRASTRUCTURES 2,463 346
Slide 60: Outright power production in Europe
FY 2025 ADDITIONAL MATERIALS OUTRIGHT POWER PRODUCTION IN EUROPE NUCLEAR AND HYDRO Hedged positions and captured prices (% and €/MWh) 100% 66% 42% 19% 100 81 As of 31 Dec 2025 62 Belgium and France 62 2025 2026 2027 2028 Captured prices are shown • before specific Belgian nuclear and French CNR hydr
Slide 61: 2026-28 key assumptions (1/2)
FY 2025 ADDITIONAL MATERIALS 2026-28 KEY ASSUMPTIONS (1/2) Outright Power FX & price Weather Below EBIT Production1 assumptions conditions indications (% and €/MWh) • Recurring net financial • FX forward as of • Average temperature December 31st 2025 in France costs: increasing from 66% 42% 19% €(2.
Slide 62: 2026-28 key assumptions (2/2)
FY 2025 ADDITIONAL MATERIALS 2026-28 KEY ASSUMPTIONS (2/2) UKPN acquisition UKPN Contribution1 including funding considerations2 • Closing of the transaction end of June 2026 2026 2027 2028 • Execution of the funding & disposals plan NRIgs NRIgs NRIgs • Provisional accounting principles indication i
Slide 63: EBIT evolution
FY 2025 ADDITIONAL MATERIALS EBIT EVOLUTION 1 2025 – 2026 evolution +0.3 -0.2 to to -0.1 +0.5 -0.3 8.7 8.8 -0.5 -0.1 +1.0 Others to FX to 9.7 -0.9 Disposals +1.4 to Performance Price & Investments Volatility 5.2 2021 2025 2026 2021 2024 FX & Scope Prices & volatility Disposals Investments Performanc
Slide 64: EBIT drivers for 2026
FY 2025 ADDITIONAL MATERIALS EBIT DRIVERS FOR 2026 20261 Activity Main EBIT evolution drivers (vs 2025) (vs 2025) 2025 - Lower prices 2026 - FX RENEWABLES & - Positive one-offs in 2025 - Portfolio rationalization for international CCGTs =- EBIT FLEX POWER EBIT excl. + Investments contribution in ren
Slide 65: Details on nuclear activity
FY 2025 ADDITIONAL MATERIALS DETAILS ON NUCLEAR ACTIVITY Assets information EBIT contribution (indicative) Installed ENGIE End of capacity capacity operations / (€bn) Nuclear reactors Operator @100% (MW) (MW) contracts [0.1-0.3] Doel 4 ENGIE 1,026 461 01/11/2035 Tihange 3 ENGIE 1,030 463 01/09/2035
Slide 66: 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 67: For more information about ENGIE
FOR MORE INFORMATION ABOUT ENGIE +33 1 44 22 66 29 ir@engie.com https://www.engie.com/en/financial-results FOR MORE INFORMATION ABOUT 2025 FINANCIAL INFORMATION: https://www.engie.com/en/finance/results/2025 67 ENGIE FEBRUARY 2026