Slide 1: Q1 2026 Trading Update
Q1 2026 Trading Update 5 MAY 2026
Slide 2: Q1 2026 Highlights
Q1 2026 Highlights Strong performance underpinned by operating excellence Energy Distribution Renewable Electricity Production Growing volume Photosol secured and margins portfolio +32% vs Mar-25 in all geographies No material impact of 2026 Guidance Middle-East conflict reaffirmed Q1 2026 Trading U
Slide 3: Strong volume and margin growth illustrating seamless execution
Strong volume and margin growth illustrating seamless execution RETAIL & MARKETING SUPPORT & SERVICES Unit Volume (in '000 m3) Gross margin (in €m) margin Q1 Q1 Q1 2026 vs Q1 Q1 Q1 2026 vs Q1 2026 vs (in '000 m3) -7% yoy sales to third parties 2026 2025(1) Q1 2025 2026 2025(2) Q1 2025 Q1 2025 conseq
Slide 4: 2026 Guidance reaffirmed
2026 Guidance reaffirmed Renewed confidence in Group’s ability to generate strong cash flow through the cycle 2026 OUTLOOK GUIDANCE ● Caribbean ▪ Continued recovery of Haiti operations, as per the second half of 2025 ● EBITDA €740-790m ▪ Growth driven by Jamaica, Guyana and Barbados – Product mix le
Slide 5: Appendix
Appendix
Slide 6: Photosol portfolio as of March 2026
Photosol portfolio as of March 2026 Project pipeline 5.4 GW -5% vs Mar-24 3.8 3.4 3.2 2.9 2.5 2.5 2.5 2.5 1.8 Secured porfolio 1.5 GW +32% vs Mar-24 633 666 535 598 513 337 267 239 268 In operation Under construction Ready-to-Build Advanced development Development Early stage Mar-25 Dec-25 Mar-26 Le
Slide 7: Rubis footprint
Rubis footprint Addressing fit-for-purpose demand with tailored energy solutions AFRICA CARIBBEAN EUROPE Developing market Fragmented market Mature market - Electrification 14 Fuel = 94% of 7 21 Fuel = 63% of 633 MWp countries volume distributed countries countries volume distributed in operation To
Slide 8: Leveraging strong legacy positions to unlock new growth drivers
Leveraging strong legacy positions to unlock new growth drivers Fuel Smaller positions in Europe Strong business in Non-Fuel Retail Lubricants the Caribbean and Africa Expanding our BtoC offer Driving value and Significant growth through strong differentiation by headroom in high- service-station ex
Slide 9: Annual cash-flow allocation mechanism for Rubis Group
Annual cash-flow allocation mechanism for Rubis Group Financing investments with cashflow from legacy activities while pursuing dividend growth Dividend 200 Energy Capex Energy Distribution add. Cash available for Distribution 50% Corp. debt growth capex 80 leverage 40 40 CASHFLOW Cash available for
Slide 10: Reminder: Photosol Day ambitions
Reminder: Photosol Day ambitions 2022 2023 2024 … 2027 Secured 503 MWp 893 MWp 1 GWp … > 2.5 GWp portfolio(1) €50-55M Consolidated €18M €29M €18-20M … EBITDA(2) of which c.10% EBITDA contribution from farm-down Power EBITDA(3) €22M €34M €35-37M … €80-85M of which one-off impact of €4m due to emergen
Slide 11: Stages of a photovoltaic project
Stages of a photovoltaic project Under In Early stage Development Advanced development Ready to build construction operation ~ 7 years Permit Permit Permit Land application application Permit application obtained Connectable secured preparation submission considered complete to grid Tariff Financing
Slide 12: A renewed sustainability roadmap rooted in our multi-local model
A renewed sustainability roadmap rooted in our multi-local model Supporting the energy transition while Limiting our environmental footprint reducing the carbon footprint of our and preserving biodiversity around operations our sites Strengthening our contribution to Providing a safe, inclusive and
Slide 13: Extra-financial ratings
Extra-financial ratings 2023 2024 2025 Performance versus sector AA AA AA High 30.7 29.2 32.2 Above average C C C+ Medium Above B B A- average Q1 2026 Trading Update 7
Slide 14: Reminder: the Rubis Limited Partnership
Reminder: the Rubis Limited Partnership Rubis is a partnership limited by shares, governed by Articles L. 226-1 et seq. of the French Commercial Code Rubis shares are listed on the regulated market of Euronext (Compartment A) Audit and CSR Committee Limited Partners / Supervisory Board Shareholders
Slide 15: Financial calendar – roadshows & conferences
Financial calendar – roadshows & conferences • Roadshows post Q1 2026 trading update ▪ Milan: 06 | 05 | 26 (CM-CIC) ▪ Madrid: 20 | 05 | 26 • Conferences ▪ Geneva : CM-CIC Conference – 19 | 05 | 26 ▪ Nice: Bernstein Nice Conference – 21 | 05 | 26 Q1 2026 Trading Update 15
Slide 16: Next events
Next events Shareholders’ Meeting: 10 | 06 | 2026 Q2 & H1 2026 Trading update: 08 | 09 | 2026 Q3 & 9M Trading update: 03 | 11 | 2026 Photos credits: @G illes Dacquin / @ Rubis photo library DISCLAIMER This presentation does not constitute or form part of any offer or solicitation to purchase or to s