Slide 1: Full Year Results 2021
7 \ FULL YEAR GETLINK jy RESULTS 2021 ANNUAL RESULTS 2021
Slide 2: Summary
SUMMARY 1 2021 HIGHLIGHTS 2 FINANCIAL RESULTS 4 3 OUTLOOK cel) ANNUAL RESULTS 2021
Slide 3: 2021 Highlights
= 2021 HIGHLIGHTS
Slide 4: 2021 Highlights
2021 HIGHLIGHTS Cash protection Cost reduction Revenue optimisation Value-added innovations for customers ElecLink & Europorte development Green leadership for European transport €718M Cash at end December 2021 €66M OPEX saved vs. 2019* Yield increase for both cars and trucks Market share at (or clo
Slide 5: We reduced costs and generated a positive FCF
C1) WE REDUCED COSTS AND GENERATED A POSITIVE FCF HIGHER COST REDUCTION Shield programme: COST €66M SAVINGS €66m savings in 2021 vs target of more than €55M (VS 2019) +€21M POSITIVE FREE CASH FLOW FREE CASHFLOW CF) (BEFORE ELECLINK) Despite lower traffic CASH (A) €718M SOLID CASH POSITION Thanks to
Slide 6: We stayed agile in managing travel restrictions
t 2 WE STAYED AGILE IN THE MANAGEMENT OF TRAVEL RESTRICTIONS TO ALWAYS OFFER A GREAT SERVICE TO OUR CUSTOMERS & OPTIMISE REVENUE IMPROVED MARKET SHARE FOR CARS 74% {| +400BP RESILIENT MARKET SHARE FOR TRUCKS 39.1% / -40BP OPTIMISED YIELD +8% NOT A SINGLE DAY WITHOUT TRAVEL RESTRICTIONS €477M SHUTTLE
Slide 7: Innovative value-added services for customers (1/4)
3) WE LAUNCHED INNOVATIVE VALUE-ADDED SERVICES FOR OUR CUSTOMERS fon) aw TO SUPPORT YIELD & VOLUMES (1/4) WE FACILITATE BORDER CROSSING AND CUSTOMS CONTROLS EUROTUNNEL BORDER PASS EUROTUNNEL BORDER SERVICE 62% ADOPTION RATE* 24/7 PRESENCE OF EUROTUNNEL STAFF REDUCES DELAYS ABIZ3CD 4DHB000 AS952DV BN
Slide 8: Innovative value-added services for customers (2/4)
3) WE LAUNCHED INNOVATIVE VALUE-ADDED SERVICES FOR OUR CUSTOMERS TO SUPPORT YIELD & VOLUMES (2/4) WE OFFER SERVICES AND COMFORTABLE REST FACILITIES TO TRUCK DRIVERS EUROTUNNEL LE TRUCK VILLAGE 93% SATISFACTION TRUCKS PER DAY Q12021 Q4 2021 ANNUAL RESULTS 2021
Slide 9: Innovative value-added services for customers (3/4)
3) WE LAUNCHED INNOVATIVE VALUE-ADDED SERVICES FOR OUR CUSTOMERS ® TO SUPPORT YIELD & VOLUMES (3/4) MY EUROTUNNEL APP / PASSENGER WALLET EUROTUNNEL APP EUROTUNNEL PASSENGER WALLET ADOPTION RATE ABOVE 80% DOSSIER DU VEHICULE ¥ 12:20 38162566 38 LH @ Covid ready 17/02/2022 #1-41-#0 _ g , @ Covid ready
Slide 10: Innovative value-added services for customers (4/4)
3) WE LAUNCHED INNOVATIVE VALUE-ADDED SERVICES FOR OUR CUSTOMERS (4/4) EUROPORTE: FLEX EXPRESS SERVICE AND OLEO 100 ALTERNATIVE GREEN FUEL FLEX EXPRESS OLEO 100 REGULAR RAIL SHUTTLE REPLACING THE NON ROAD DIESEL IN EXISTING LOCOMOTIVES TO CUT GHG EMISSIONS (om) (-60% ACROSS THE LIFECYCLE) Safety me!
Slide 11: We further developed our Europorte activities
6 WE FURTHER DEVELOPED OUR EUROPORTE ACTIVITIES EUROPORTE EBITDA €28M (+2% vs 2020, +17% vs 2019) * Development of international services to Belgium and Germany * New Flex Express service introduced * Cost control ANNUAL RESULTS 2021 1
Slide 12: We further developed our ElecLink project
6 WE FURTHER DEVELOPED OUR ELECLINK PROJECT All construction work to date has been successfully delivered with a good safety performance Safety dossier and Safety System compliance have been completed and validated by the IGC on 17 February Technical tests with RTE and National Grid have started Str
Slide 13: We accelerated our green leadership
rs } WE ACCELERATED OUR GREEN LEADERSHIP GETLINK 2025 ENVIRONMENT PLAN a en 8 -30% Scope 1 & 2 emissions by 2025 (-15% 2023 milestone) * -7.5% Scope 3 reduction by 2025 ENVIRONMENTAL PLAN 2025, FOR SUSTAINABLE MOBILITY * Protect the biodiversity on our sites and get 1SO14001 certification by 2025 +
Slide 14: Financial Results
FINANCIAL Sm RESULTS
Slide 15: Eurotunnel in 2021: Shuttle traffic
EUROTUNNEL IN 2021: SHUTTLE TRAFFIC TRUCK VOLUMES CAR VOLUMES 1595 2019 2602 2019 1452 2020 2021 1399 2020 2021 ANNUAL RESULTS 2021 (k) (k) TRUCK TRAFFIC -6% Strong impact of destocking in January/February and gradual adjustment of customers to new border crossing requirements CAR TRAFFIC -32% Stric
Slide 16: Eurotunnel in 2021: Optimised market share and prices
EUROTUNNEL IN 2021: SHUTTLE: OPTIMISED MARKET SHARE AND PRICES 150 YIELD INCREASE 2015-2021 140 +8.5% 130 114.9% 120 +3.0% 110 +3.2% +3.8% 100 +3.8% 90 2015 2016 2017 2018 2019 2020 2021 2021 cefin) ANNUAL RESULTS 2021 iD YIELD INCREASE PARTLY MITIGATED LOW VOLUMES, MAINLY THROUGH TICKET MIX TRUCKS
Slide 17: Eurotunnel in 2021: Railway network traffic
EUROTUNNEL IN 2021: RAILWAY NETWORK TRAFFIC NUMBER OF RAIL FREIGHT TRAINS ® 11047 2019 2144 2019 2503 2020 1736 2020 (k) 2021 2021 ANNUAL RESULTS 2021 25 EUROSTAR PASSENGERS -35% Traffic impacted by travel restrictions Refinancing completed Greenspeed confirmed RAIL FREIGHT TRAINS -5% 17
Slide 18: Eurotunnel in 2021: Continued focus on cost reduction
EUROTUNNEL IN 2021: CONTINUED FOCUS ON COST REDUCTION ‘so EUROTUNNEL OPERATING COSTS 2019-2021 m [o] opex «30 ay Se cost reduction in 2021* higher than target oO) 9 “ -€66M vs. 2019* (10) (8) 390 (15) Costs reduction all across the board High impact of flexibility measures (2) Substantial sustainabl
Slide 19: Eurotunnel in 2021: Revenue and EBITDA
EUROTUNNEL IN 2021: REVENUE AND EBITDA EUROTUNNEL P&L €M 2021 2020 CHANGE Turnover ?) 648 704 -8% REVENUE DECLINE + Shuttle Services 477 530 -10% PARTLY MITIGATED BY + Railway Network 155 165 -6% COST REDUCTIONS «Other (2) 16 9 ns Operating costs (378) (396) 5% EBITDA 270 308 -12% 41) Restated at 20
Slide 20: Europorte in 2021: Profitability improvement
EUROPORTE IN 2021: PROFITABILITY IMPROVEMENT REVENUE AND PROFITS HIGHER THAN PRE-COVID-19 LEVEL EUROPORTE €M 2021 2020 CHANGE Revenue 130 123 +6% Operating costs (102) (95) +7% EBITDA 28 28 +2% ANNUAL RESULTS 2021 20
Slide 21: Getlink in 2021: Consolidated P&L
GETLINK IN 2021: CONSOLIDATED P&L €M Total turnover Operating costs Operating margin (EBITDA) Operating profit (EBIT) Total net finance costs Net consolidated result from continuing activities Net consolidated result fon) GELUNK) (Restated at 2021 exchange ate: £1 = 1.167 2021 778 (481) 297 61 (298)
Slide 22: Getlink in 2021: Net finance costs
GETLINK IN 2021: NET FINANCE COSTS €M Interest income Other financial products (costs) Interest on loans Amortisation of hedging costs Capitalisation of interest (ElecLink) Effective rate adjustment Inflation indexation Total net finance costs cfu) TUN Restated at 2021 exchange rate: £1 = €1.167 202
Slide 23: Getlink in 2021: Strong liquidity maintained
GETLINK IN 2021: STRONG LIQUIDITY MAINTAINED AFTER DEBT SERVICE AND ELECLINK CAPEX €M 2021 Operating CF 353 Capex (excl. ElecLink) (67) Debt service (265) FCF * & ** 21 Capex ElecLink (and other) (68) FCF after ElecLink (49) * Current operating cash flow - Eurotunnel & Europorte investments - debt s
Slide 24: Getlink in 2021: Positive free cash flow
GETLINK IN 2021: POSITIVE FREE CASH FLOW (€M) 4200 i) (2) 353 3900 3600 3300 3000 Net fin. Cash flow Debt Investments Investments Dividends Fx, inflation Net fin. debt 2020 fromop. service for Eleclink Buybacks andother — debt 2021 Z\, “Current operating cash flow - Eurotunnel & Europorte GefUNK} in
Slide 25: Outlook
wy OUTLOOK
Slide 26: Strategic focus for the coming years
STRATEGIC FOCUS FOR THE COMING YEARS TRANSFORM MARKET SHIFT INTO OPPORTUNITIES SOM or CLIMATE CHANGE REQUIRES OUR CUSTOMERS ARE FACING ~ LOW CARBON SOLUTIONS INCREASING COMPLEXITY HOW WE We will further differentiate ourselves by We will transform the challenge of Brexit into an COMPETE... increasin
Slide 27: Green leader for European transport
GREEN LEADER FOR EUROPEAN TRANSPORT GETLINK APPROACH TO NEUTRALITY BY 2050 ULTIMATE OBJECTIVE: CARBON NEUTRALITY BY 2050, STRUCTURED IN TWO PHASES Getlink roadmap includes explicit targets for 2025: Focus on intrinsic Scopes 1 & 2 (-30%) and start engaging Scope 3 (customers & suppliers, -7.5%) thro
Slide 28: 2022: Focus on cost control and customer service excellence
2022: WE CONTINUE TO FOCUS ON COST CONTROL & CUSTOMER SERVICE EXCELLENCE TO STRENGHTEN OUR LEADERSHIP IN OUR MARKETS CURRENT ENVIRONMENT REMAINS CHALLENGING Vaccination campaigns, easing of travel restrictions supporting passenger bookings (but uncertainty remains/variants) Brexit phase 1: implement
Slide 29: ElecLink commercial launch is in its final stage
ELECLINK COMMERCIAL LAUNCH IS IN ITS FINAL STAGE CONSTRUCTION & COMMERCIAL STANDARD OPERATION COMMISSIONING PHASE & OPERATIONAL LAUNCH MODE C \ a a > ) 2022 >] 2023+ FINAL @ TESTINGS Confirmed + SHORT TERM + FULL RANGE expected Tasme Q AUCTIONS OF AUCTIONS profitability: READINESS ~€80M EBITDA + CAP
Slide 30: Financial outlook 2022
FINANCIAL OUTLOOK 2022 The Group will provide guidance for 2022 when the pandemic evolution trends — which are currently positive - are confirmed Start of ElecLink operations Shareholder return remains a priority: committed to increase dividend (€0.10/share to be proposed at the April 2022 AGM) 14 T
Slide 31: Early 2022 traffic is showing the start of recovery
EARLY 2022 TRAFFIC IS SHOWING THE START OF RECOVERY TRUCK VOLUMES 131,098 +38% VS. 2021 82,484 Efficient management of the EU>UK Brexit customs formalities PASSENGER VOLUMES uaB +hh% VS. 2021 Traffic recovery visible and Cea) in line with short haul airline Jan. 2020 Jan, 2021 Jan. 2022 trends in Eu
Slide 32: Appendix
APPENDIX
Slide 33: Getlink in 2021: Financial debt
GETLINK IN 2021: FINANCIAL DEBT FIXED INTEREST RATE LONG AVERAGE DURATION INFLATION-LINKED TRANCHES ALIGNED WITH RAILWAY USAGE CONTRACT REVENUE CURRENCY MATCHING REVENUE AMORTISING REPAYMENT SCHEDULE FIRST CONTRACTUAL BULLET REPAYMENT IN 2025 (1) AtET=€1.19 10 cefin) (2) Valued at €348M in the Group
Slide 34: Contact
CONTACT JEAN BAPTISTE ROUSSILLE co-Head of IR 00 33 1 40 98 04 81 Jean-baptiste.roussille@getlinkgroup.com ® ANNUAL RESULTS 2021 MICHAEL SCHULLER Corporate Finance Director co-Head of IR 00 44 1303 288 719 Michael.schuller@getlinkgroup.com
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