Slide 1: Half Year Results 2021
f/\ HALF YEAR GETLINK y RESULTS 2021
Slide 2: Summary
SUMMARY 1 H1 2021 HIGHLIGHTS yy] FINANCIAL RESULTS 3 OUTLOOK
Slide 3: H1 2021 Highlights
Slide 4: H1 2021 Highlights
H1 2021 HIGHLIGHTS €549M Ce ected at end June 2021 acta LCCCCCCO) Costs reduced Oo: €45M FY target outperformed in H1 [exp OPEX saved vs. H1 2019* Optimised yield & satisfactory market share achieved ElecLink cable successfully 38.9% MS trucks 78.8% MS cars +11% yield Best case installed ls] schedul
Slide 5: Shield and WAYforward plans delivered first results
H1 2021 HIGHLIGHTS PERFORMANCE: SHIELD AND WAYFORWARD PLANS DELIVERED FIRST RESULTS STRICT CASH MANAGEMENT * Cost reduction * Capex sobriety * Flexibility increase SHIELD © 85M OPEX SAVED SINCE JANUARY 2020° e) 4p RELENTLESS COMPETITIVENESS | IMPROVEMENT + Operational excellence WAY + Customer exper
Slide 6: We protected our cash
@ WE PROTECTED OUR CASH HISTORIC CASH POSITION (30) €549M en) Superior to pre-pandemic level After dividend and ElecLink progress 30) DSCR COMFORTABLY MET 1.44x Cash* FCF** Dividend & other Investment Cash Dec. 2020 excl. ElecLink movements ElecLink June 2021 * at H1 2021 closing rate: £1 = €1.165 *
Slide 7: We reduced our costs and preserved our key investments
2) WE REDUCED OUR COSTS AND PRESERVED OUR KEY INVESTEMENTS SHIELD COST REDUCTION IMPACT ess) €45M OPEX SAVED IN H1 vs H1 2019* H2e * Including structural savings of approx. €10M H1 >(€10M) * Second stage of Shield programme launched in March 2021 (sh) * Investment programme sustained (€41M capex spe
Slide 8: We pushed further our fundamental values
3) WE PUSHED FURTHER OUR FUNDAMENTAL VALUES QUALITY OF SERVICE & PRICING POWER Ge SERVICE QUALITY IMPROVEMENTS | oh IMPROVED MARKET SHARE FOR PAX ADDITIONAL VALUE-ADDED SERVICES © WW RECOVERED MARKET SHARE FOR TRUCKS REFINED PAX CUSTOMER SEGMENTATION & PRICING STRATEGY | @) OPTIMISED YIELD My Eurotu
Slide 9: ElecLink: we installed the cable as per best case scenario
4 ELECLINK: WE INSTALLED THE CABLE AS PER BEST CASE SCENARIO Testing of converter stations completed + Installation of cable in Tunnel completed * Jointing of cable completed on 20 June, ahead of schedule + Full testing & final authorisation process begins * Remain confident that company will be rea
Slide 10: Europorte: demand recovered to normative level
(> 2019 level) Demand recovered to normative level Development of international services to Belgium and Germany New Flex Express service introduced Cost control GETLINK } HALF YEAR RESULTS 2021 10
Slide 11: Financial Results
Slide 12: Eurotunnel in H1 2021: shuttle traffic
EUROTUNNEL IN H1 2021: SHUTTLE TRAFFIC TRUCK Gd VOLUMES 2019 CAR 1,139 VOLUMES 2019 ® 665 2020 545 2020 (k) 2021 (k) 2021 HALF YEAR RESULTS 2021 (8 GD TRUCK TRAFFIC -3% Strong impact of destocking in January/February and gradual adjustment of hauliers to new border crossing requirements CAR TRAFFIC
Slide 13: Eurotunnel in H1 2021: satisfactory market share and prices
EUROTUNNEL IN H1 2021: SHUTTLE: SATISFACTORY MARKET SHARE AND PRICES 150 140 130 120 110 100 90 80 2015 +3.8% 2016 +3.8% 2017 43.2% 2018 +3.0% 2019 +11.5% 114.9% 2020 H1 2021 H1 2021 HALF YEAR RESULTS 2021 GD Yield increase 2015-2021 TRUCKS 2021: Reasonable price increase in a transition period Mark
Slide 14: Eurotunnel in H1 2021: railway network traffic
EUROTUNNEL IN H1 2021: RAILWAY NETWORK TRAFFIC EUROSTAR PASSENGERS NUMBER OF RAIL FREIGHT TRAINS ® 5,299 2019 1,166 2019 (k) 1,993 202 — 2020 2021 857 2020 2021 HALF YEAR RESULTS 2021 255 EUROSTAR PASSENGERS CO} -90% Refinancing completed in H1 2021, strengthening Eurostar’s balance sheet, ready for
Slide 15: Eurotunnel in H1 2021: continued focus on cost reduction
EUROTUNNEL IN H1 2021: CONTINUED FOCUS ON COST REDUCTION 240 220 200 180 160 140 OPEX H1 2019* ® nk: H1 2019 Operations One-offs (16) HT 2021 ex (M) (7) (8) (5) (6) (3) 3 Furlough Productivity Large scale Local taxes & Variable Covid OPEX maintenance Insurrance compensation Brexit 1-202 nge rate: £1
Slide 16: Eurotunnel in H1 2021: revenue and EBITDA
EUROTUNNEL IN H1 2021: REVENUE AND EBITDA EUROTUNNEL + GETLINK SEGMENT P&L €M H1 2021 H1 2020") CHANGE Revenue ”) 264 312 -15% REVENUE DECLINE PARTLY + Shuttle Services 189 213 -11% MITIGATED BY + Railway Network 66 96 -31% COST REDUCTION + Other?) 9 3 N/A Operating costs (178) (199) -11% EBITDA 86
Slide 17: Europorte in H1 2021: profitability improvement
EUROPORTE IN H1 2021: PROFITABILITY IMPROVEMENT REVENUE AND PROFITS HIGHER THAN PRE-COVID-19 LEVEL EUROPORTE €M H1 2021 H1 2020 CHANGE Revenue 66 58 +14% Operating costs (52) (48) +8% EBITDA 14 10 +42% HALF YEAR RESULTS 2021 17
Slide 18: Getlink in H1 2021: consolidated P&L
GETLINK IN H1 2021: CONSOLIDATED P&L €M Total turnover Operating costs Operating margin (EBITDA) Operating profit (EBIT) Net finance costs Net consolidated result from continuing activities Net consolidated result (1) Restated at H1 2021 exchange rate: £1 = €1.15) Sn) aw H1 2021 330 HALF YEAR RESULT
Slide 19: Getlink in H1 2021: strong liquidity maintained
GETLINK IN H1 2021: STRONG LIQUIDITY MAINTAINED AFTER DEBT SERVICE AND ELECLINK CAPEX €M H1 2021 H1 2020‘ CHANGE Operating CF 125 166 (41) Capex (excl. ElecLink) (24) (38) 14 Debt service (and other) (129) (123) (6) FCF * (30) 5 (35) Capex ElecLink (30) 2 (32) FCF after ElecLink (60) 7 (67) * Includ
Slide 20: Outlook
ro k Al s & E i
Slide 21: Outlook: the future of transport
OUTLOOK THE FUTURE OF TRANSPORT ee) SPEED cette ay] Crossing >2x faster than with ferries Further improvement through WAYforward (smart loading, client segmentation, etc.) je) Unique border crossing services and digital border management CUSTOMER (<7) Further improvement through WAY forward (digital
Slide 22: Outlook
OUTLOOK > G _PASSENGER WALLET _ = 0 es MORE THAN €80M LA53GKN © Covid ready €55M BUDGETED SAVINGS IN 2021 IN 2021 FOR #3-41-41 VS 2019 EUROTUNNEL © covid ready)| (© Covid ready) (@Covid ready) (@ e 2 oa] AS LONG AS GOVERNMENTS FAIL TO TAKE A LONG-TERM POSITION ON TRAVEL RESTRICTIONS, THE GROUP WILL
Slide 23: Appendix
Slide 24: Getlink in H1 2021: financial debt
GETLINK IN H1 2021: FINANCIAL DEBT FIXED INTEREST RATE LONG AVERAGE DURATION INFLATION-LINKED TRANCHES ALIGNED WITH RAILWAYS USAGE CONTRACT REVENUE CURRENCY MATCHING REVENUE AMORTISING REPAYMENT SCHEDULE FIRST CONTRACTUAL BULLET REPAYMENT IN 2025 €M H1 202100 Financial liabilities (5,081) Eurotunnel
Slide 25: Contact
® CONTACT JEAN BAPTISTE ROUSSILLE co-Head of IR 00 33 1 40 98 04 81 Jean-baptiste.roussille@getlinkgroup.com MICHAEL SCHULLER Corporate Finance Director co-Head of IR 00 44 1303 288 719 Michael.schuller@getlinkgroup.com
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