Slide 1: 9M 2023 Financial Information
9M 2023 FINANCIAL INFORMATION 7 November 2023
Slide 2: Catherine Macgregor, CEO
9M 2023 FINANCIAL INFORMATION CATHERINE MACGREGOR CEO 2 ENGIE NOVEMBER 2023
Slide 3: 9M 2023 Highlights
9M 2023 FINANCIAL INFORMATION 9M 2023 HIGHLIGHTS Strong earnings performance and guidance upgrade Record level of renewable capacity under construction Pivotal expansion move in battery storage Nuclear agreement on track 3 ENGIE NOVEMBER 2023
Slide 4: Strong 9M 2023 results and guidance upgraded
9M 2023 FINANCIAL INFORMATION STRONG 9M 2023 RESULTS AND GUIDANCE UPGRADED • EBIT ex. Nuclear at €8.0bn mainly driven by EBIT ex. Nuclear CFF0 1 GEMS and Renewables • Strong Cash flow generation, CFFO up €4.6bn €8.0bn €13.0bn yoy Up 28% organically Up €4.6bn • Growth Capex accelerating, up 27% yoy d
Slide 5: Progress on ESG
9M 2023 FINANCIAL INFORMATION PROGRESS ON ESG Greenhouse gas Green emissions Renewables Financing GHG1 emissions Share of renewables ENGIE, from energy production (Mt) in total power generation capacity a leading issuer of green bonds 107 40% 38% 2030 34% 2030 €5.1bn TARGET TARGET issued in 9M 2023
Slide 6: Strategic plan roll-out: showcasing our innovatory leadership in Q3
9M 2023 FINANCIAL INFORMATION STRATEGIC PLAN ROLL-OUT: SHOWCASING OUR INNOVATORY LEADERSHIP IN Q3 RENEWABLES NETWORKS • 38.6 GW 1 of installed capacity • HyPSTER: start-up of FIRST green hydrogen salt cavern storage • 1.2 GW 1 added capacity in 9M 2023 demonstration facility • 7.6 GW1 under construc
Slide 7: Renewables: future growth locked in
9M 2023 FINANCIAL INFORMATION RENEWABLES: FUTURE GROWTH LOCKED IN High level of Leader in green Repowering Construction activity PPAS in Germany 7.6 GW Offshore wind: 2.0 GW in 9M 2023 x4 3 projects (1 GW in France, energy yield after repowering under construction of PPAs signed, and 0.9 GW in UK) o
Slide 8: Acquisition of Broad Reach Power in the United States
9M 2023 FINANCIAL INFORMATION ACQUISITION OF BROAD REACH POWER IN THE UNITED STATES STANDALONE BATTERY COMPANY, DEVELOPING, BUILDING & OPERATING BESS Early mover, with a large operating, under-construction & ready-to-build portfolio Imminent capacity Significant pipeline ramp-up • Impact on net debt
Slide 9: Perfect fit with ENGIE's integrated model
9M 2023 FINANCIAL INFORMATION PERFECT FIT WITH ENGIE’S INTEGRATED MODEL Value captured through various RENEWABLES + BESS + GEMS streams on a standalone basis = unique value creation potential Split of ENGIE’s Renewables and BESS capacity1 in the US (post-acquisition) 41% • Mitigating the risks of An
Slide 10: 9M 2023 Financials, Pierre-François Riolacci, CFO
9M 2023 FINANCIAL INFORMATION 9M 2023 FINANCIALS PIERRE-FRANÇOIS RIOLACCI CFO 10 ENGIE NOVEMBER 2023
Slide 11: Strong operational and financial performance despite expected slowdown in pace of growth
9M 2023 FINANCIAL INFORMATION STRONG OPERATIONAL AND FINANCIAL PERFORMANCE DESPITE EXPECTED SLOWDOWN IN THE PACE OF GROWTH 9M RESULTS €bn, unaudited figures 1 Actual ∆ Gross ∆ Organic 2 EBITDA ex. Nuclear 11.1 +19% +19% up 28% org. EBIT ex. Nuclear 8.0 +27% +28% CFFO 3 13.0 +4.6 - • EBITDA growth an
Slide 12: EBIT ex. Nuclear up 28% organically
9M 2023 FINANCIAL INFORMATION EBIT EX. NUCLEAR UP 28% ORGANICALLY Strong organic growth mainly driven by GEMS and Renewables EBIT ex. Nuclear €+1,735m organic 7,990 (€m) +1,276 (o/w +1,346 7,990 GEMS) -29 -120 +90 2,833 OTHERS +75 (o/w 3,342 Networks Others GEMS) +444 Retail -17 Energy Flex Gen 6,27
Slide 13: Focus on GEMS
9M 2023 FINANCIAL INFORMATION FOCUS ON GEMS Strong 9M 2023 EBIT at Key market drivers1 9M 9M 6M 9M €3.3 bn (€/MWh - month ahead) Prices & Power Germany 2021 72 2022 284 2023 114 2023 96 in favourable market context in H1 mainly driven by: Spreads Gas TTF 31 134 44 37 • Normalization of market condit
Slide 14: Cash flow from operations
9M 2023 FINANCIAL INFORMATION CASH FLOW FROM OPERATIONS Strong cash generation driven by EBITDA growth, gas storage activity and commodity prices decrease (€bn) Change in WCR: €+2.9bn -0.3 -0.1 -2.0 +2.0 -1.7 +1.6 Other Taxes & +3.4 13.0 changes interest Net Energy in Margin Supply in WCR paid recei
Slide 15: Cash generation offsetting impacts of nuclear framework agreement, credit ratio maintained
9M 2023 FINANCIAL INFORMATION CASH GENERATION OFFSETTING IMPACTS OF NUCLEAR FRAMEWORK AGREEMENT, CREDIT RATIO MAINTAINED Net Financial Debt Leverage ratios +0.7 (€bn) Others 3 24.6 4.0x 24.1 -0.1 +4.0 -13.0 +2.6 Scope Dividends +6.3 Nuclear phase-out 2 2.8x 2.8x Dec CFFO Capex 1 Sep 2022 2023 1.8x 1
Slide 16: FY 2023 guidance upgraded
9M 2023 FINANCIAL INFORMATION FY 2023 GUIDANCE UPGRADED Rating Key assumptions 1 ‘Strong investment grade’ FX: €13.4 – 14.4bn Economic Net Debt / EBITDA ≤ 4.0x over the long term • €/USD: 1.08 • €/BRL: 5.46 Market commodity forward prices Dividend as at 31 August 2023 65-75% Nuclear Belgium c. 90% n
Slide 17: Summary
9M 2023 FINANCIAL INFORMATION SUMMARY Strong earnings performance and guidance upgrade Record level of renewable capacity under construction Pivotal expansion move in battery storage Nuclear agreement on track 17 ENGIE NOVEMBER 2023
Slide 18: Additional material
ADDITIONAL MATERIAL
Slide 19: EBIT change by activity
9M 2023 FINANCIAL INFORMATION 9M 2023 EBIT CHANGE BY ACTIVITY Y/Y change (€m) Gross FX / Scope Organic Key drivers for organic change Higher hydro prices in France, reversal of 2022 buybacks Higher hydro tax in France RENEWABLES +473 Various acquisitions +444 Higher hydro volumes in France and
Slide 20: EBIT breakdown
9M 2023 FINANCIAL INFORMATION EBIT BREAKDOWN 9M 2023 Rest of Latin Northern (€m) France Europe America America AMEA Others TOTAL RENEWABLES 471 193 707 151 21 (27) 1,517 NETWORKS 1,117 10 613 (4) (6) 1,729 ENERGY SOLUTIONS 183 102 (2) (140) 33 (32) 144 FLEX GEN 561 159 34 334 (22) 1,066 RETAIL 560 9
Slide 21: Guidance: 2023 updated commodity forward prices assumptions
9M 2023 FINANCIAL INFORMATION GUIDANCE 2023 updated commodity forward prices assumptions Main commodity forward prices1 Main commodity forward prices (31 August 2023) (31 May 2023) Basis for the upgraded 2023 indications Basis for the former 2023 indications and guidance and guidance (€/MWh - €/t) 2
Slide 22: Outright power production in Europe
9M 2023 FINANCIAL INFORMATION OUTRIGHT POWER PRODUCTION IN EUROPE Nuclear and Hydro Hedged positions 100% 93% 65% 25% and captured prices (% and €/MWh) 152 130 99 90 As at 30 September 2023 Belgium and France 2022 2023 2024 2025 Captured prices are shown: • before specific Belgian nuclear and French
Slide 23: 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 24: 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 9M 2023 FINANCIAL INFORMATION: https://www.engie.com/en/finance/results/2023 24 ENGIE NOVEMBER 2023