Slide 1: Capital Markets Story
Capital Markets Story August 2024
Slide 2: Agenda
Agenda 1 Strategy and Ambition 2 H1 2024 Results and Outlook 3 Appendix
Slide 3: Uniper's business activities at a glance
Uniper’s business activities at a glance ENERGY SOURCES AND TRANSPORT AND TRADING SALES AND GENERATION STORAGE SERVICES NATURAL POWER GAS & LNG CARBON COAL HYDROPOWER WIND & SOLAR Ramp-up CLEAN FINANCIAL 3.6 GW GASES PRODUCTS GAS STORAGE 7.3 bcm LARGE CUSTOMERS NUCLEAR 1.4 GW HYDROGEN Ramp-up SME CU
Slide 4: Uniper's key figures at a glance
Uniper’s key figures at a glance External sales Investments €m €m €1,113m €1,743m Adj. Net Income Adj. EBITDA Group Group 65,804 50,968 162,968 274,121 107,915 657 743 589 552 587 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 Adj. EBITDA Operating cash flow €m €m € ~7,000 BBB- Employees, S&P Glo
Slide 5: Market trends – Uniper uniquely positioned for massive transformation in the energy system
Market trends – Uniper uniquely positioned for massive transformation in the energy system Key drivers Market development Green Power growth: European generation mix (GW) Massive increase in renewables to enable Others (incl. batteries) decarbonization by electrification ➔ Uniper to optimize value o
Slide 6: Uniper 2030: 'Flexible, balanced, bespoke'
Uniper 2030: ‘Flexible, balanced, bespoke’ – Providing what the energy system needs Coal phase out by Independent and stand- Leveraging inter- Investing ~ €8bn linkage of power and 20292 as first step on alone investment grade Uniper 2030 2023-2030 in growth gas in core markets1 path to carbon neutr
Slide 7: Customer focus – Synchronized with the needs of our customers
Customer focus – Synchronized with the needs of our customers to deliver the energy transition Gas Power Solutions Our customers Remain supplier of choice. Significantly expand green Provide matching solutions ~1,000 Diversify and decarbonize our power sales portfolio of specific to multiple custome
Slide 8: Optimization – Enabling the energy transition in real time
Optimization – Enabling the energy transition in real time for customers and markets Our basis Leverage increasing Balance sales and Expansion of Originate energy interlinkage of supply by trading existing commercial products to Strong portfolio of power and gas to energy products capabilities to lo
Slide 9: Our sustainability targets – Clear milestones to implement green transformation
Our sustainability targets – Clear milestones to implement green transformation Environmental Climate targets Biodiversity 2029 2030 2035 2040 Coal exit1 ≥55% carbon Group-wide Group-wide Enhance biodiversity reduction carbon carbon through systematic for generation neutrality neutrality2 impact a
Slide 10: Uniper's transition towards 2030 – Priority list
Uniper’s transition towards 2030 – Priority list 1 2 Sustainable energy supply Decarbonization Leveraging inter-linkage of power and Coal phase out by 2029 as first step on gas in core markets Germany, UK, path to carbon neutrality by 2040 Sweden, Netherlands 3 4 Investment plan Credit rating Invest
Slide 11: Green & Flexible Generation – Closing the critical gap
Sustainable energy supply 1 Green & Flexible Generation – Closing the critical gap in the energy transition TODAY THE WAY AHEAD 2030 – HIGHLIGHTS 22.4 GW Grow green power 15-20 GW Generation capacity Phase out coal by 2029 Generation capacity installed Grow wind and solar assets and renewable PP
Slide 12: Greener Commodities – Ensuring secure and continuous gas flows
Sustainable energy supply 1 Greener Commodities – Ensuring secure and continuous gas flows with a diversified and greener portfolio TODAY THE WAY AHEAD 2030 – HIGHLIGHTS >200 TWh Reliable supply >200 TWh Gas B2B sales portfolio municipal utilities, Industrials and own generation Gas sales based on a
Slide 13: Carbon reduction accelerating – Coal-fired power era nearing its end
Decarbonization 2 Carbon reduction accelerating – Coal-fired power era nearing its end Carbon emission reduction path (Scope 1 & 2) Coal exit path mt MW 8,000 44 -50% 6,000 Heyden 4 (875 MW) Scholven (760 MW) 22 19.4 4,000 Ratcliffe (2,000 MW) -55% Staudinger 5 (510 MW) 10 2,000 Datteln 4 (1,052 MW)
Slide 14: Implementation of Uniper 2030 strategy underway
Investment plan 3 Implementation of Uniper 2030 strategy underway with first meaningful steps Flexible Generation Green Generation New 0.3 GW gas-fired plant Irsching 6 (GER) Renewable pipeline of 1.5 GW under started in 2023 as safety buffer for TSO development in Europe Decarbonization of existing
Slide 15: Credit rating
Credit rating 4 Secured credit rating, boosted be restored financial power Equity position Financial basis Objective towards 2030 €bn Group Economic net cash €6bn S&P 11.2 10.4 at H1 2024 6.8 4.4 Solid Current S&P credit rating1 stand-alone BBB- -31.5 Stable outlook BBB Credit rating New syndicated
Slide 16: FY 2024 – Full focus on strategy execution
FY 2024 – Full focus on strategy execution Stabilization New strategy & Uniper 2030 financial recovery Key priorities 2024 Operate, maintain and maximize value from existing asset portfolio Prioritizing and advancing the project pipeline Strengthen organizational set up to deliver strategy Campaign
Slide 17: Crucial milestones achieved for Uniper to return to capital markets
Crucial milestones achieved for Uniper to return to capital markets Achievements Balance sheet restructuring (German GAAP) Technical ability to pay regular dividends achieved1 Segmentation and financial steering KPIs updated Increasing transparency in line with strategy implementation ensured Indepe
Slide 18: Agenda
Agenda 1 Strategy and Ambition 2 H1 2024 Results and Outlook 3 Appendix
Slide 19: Key financials H1 2024 – Strong earnings performance
Key financials H1 2024 – Strong earnings performance although below prior-year’s record figures Adjusted EBITDA Adjusted EBIT Operating cash flow €m €m €m 4,113 1,743 3,712 1,439 4,294 2,950 1 1 1 H1 2023 H1 2024 H1 2023 H1 2024 H1 2023 H1 2024 Adjusted Net Income (ANI) Net Income2 Economic net cash
Slide 20: Key earnings drivers H1 2024
Key earnings drivers H1 2024 – Gas Midstream and Flexible Generation on the way to normalized earnings Reconciliation Adjusted EBITDA H1 2023 to H1 2024 Main messages €m 1 Adj. EBITDA H1 2023 4,113 Gas Midstream with solid operating result but below strong prior-year’s Greener Commodities - Gas Mids
Slide 21: Adjusted Net Income H1 2024
Adjusted Net Income H1 2024 – Supported by positive interest results Reconciliation Adjusted EBITDA H1 2024 to Adjusted Net Income H1 2024 Main messages €m Improved economic interest results 1,743 304 underpinned by high financial net 89 cash position and lower 1,439 406 commitment fees 8 Lower depr
Slide 22: Operating cash flow H1 2024
Operating cash flow H1 2024 – Sizeable increase from working capital inflow Reconciliation Adjusted EBITDA H1 2024 to operating cash flow H1 2024 €m 9 44 3,359 453 2,950 1,738 127 258 1,743 PY: 4,113 PY: 4,676 PY: 4,294 Adj. EBITDA Non-cash Provision Changes in Other Other(incl. OCFbIT Interest Taxe
Slide 23: Economic net debt H1 2024
Economic net debt H1 2024 – Strong cash flows expand economic net cash position Reconciliation economic net cash YE 2023 to H1 2024 €m 229 2 189 5,970 2,950 3,058 1 Economic net cash OCF Investments Divestments Other Effects Economic net cash YE 2023 H1 2024 1. Includes asset retirement obligations
Slide 24: Raised outlook for FY 2024 due to strong H1 2024 results
Raised outlook for FY 2024 due to strong H1 2024 results Adjusted EBITDA Adjusted Net Income (ANI) Main messages €bn €bn Earnings outlook range for both 2.4 KPIs raised by €400m Range 2.0 The H1 2024 result benefitted from Range the tailwind of our successful 1.5 hedging policy 1.9 Range 1.5 1.1 The
Slide 25: Agenda
Agenda 1 Strategy and Ambition 2 H1 2024 Results and Outlook 3 Appendix
Slide 26: Commodity prices
Commodity prices Gas prices1 Carbon prices2 Electricity prices3 Dark & spark spreads4 €/MWh €/t CO2 €/MWh €/MWh 150.0000 75 250 Germany 80 CDS Nordics CSS 120.0000 60 200 60 90.0000 45 150 40 30 60.0000 100 20 15 30.0000 50 0 0 0.0000 0 -20 Jan 23 Jul 23 Jan 24 Jul 24 Jan 23 Jul 23 Jan 24 Jul 24 Jan
Slide 27: Operating indicators
Operating indicators Greener Commodities Green & Flexible Generation Group carbon emissions Gas storage filling Production volume1 Scope-12 % TWh m tons +7% +2% -11% points 25.6 25.1 78% 85% 4.7 9.3 8.3 9.1 4.8 7.0 H1 2023 H1 2024 H1 2023 H1 2024 H1 2023 H1 2024 1. Coal-fired generation includes co-
Slide 28: Electricity generation – Volumes
Electricity generation – Volumes H1 2024 H1 2023 TWh Accounting view Accounting view Hydro Subtotal 6.98 6.08 Germany1 3.23 2.68 Sweden 3.75 3.40 Nuclear Sweden 4.82 3.68 Gas Subtotal 9.05 9.15 Germany 2.70 2.22 United Kingdom 4.87 5.51 Netherlands 0.47 0.27 2 Sweden 0.00 0.00 Hungary 1.00 1.15 Hard
Slide 29: Outright power hedging in Germany and Nordic
Outright power hedging in Germany and Nordic – Physical asset positions Hedged prices and hedge ratios Germany1 Hedged prices and hedge ratios Nordic1 €/MWh €/MWh 34 45 123 87 41 47 39 37 TWh TWh 8 24 6 18 4 12 2 6 100% 95% 75% 15% 100% 80% 55% 30% 0 0 2023 2024 2 2025 2026 2023 2024 2 2025 2026 1.
Slide 30: Adjusted EBITDA and Adjusted EBIT – By segment and sub-segment
Adjusted EBITDA and Adjusted EBIT – By segment and sub-segment H1 2024 H1 20231 H1 2024 H1 20231 €m Adj. EBITDA Adj. EBITDA Adj. EBIT Adj. EBIT Green Generation Subtotal 527 429 464 366 Hydro 346 373 313 340 Nuclear 195 62 164 31 Renewables -14 -6 -14 -6 Flexible Generation Subtotal 826 1,351 666 1,
Slide 31: Adjusted EBITDA – Main earnings drivers by sector
Adjusted EBITDA – Main earnings drivers by sector Green Generation Flexible Generation Greener Commodities €m €m €m -1,651 -218 2,434 1,351 -306 0 -98 -27 133 -8 826 527 682 429 H1 2023 1 Hydro Nuclear RES H1 2024 H1 2023 1 Gas-fired Coal-fired H1 2024 H1 2023 1 Gas Greener Power & H1 2024 Generatio
Slide 32: Reconciliation of income/loss before financial results & taxes to Adjusted EBIT/DA
Reconciliation of income/loss before financial results & taxes to Adjusted EBIT/DA €m H1 2024 H1 20231 Income / loss before financial results and taxes 908 9,797 Net income / loss from equity investments 1 -4 Depreciation, amortization, impairments & reversals 324 1,272 Economic depreciation, amorti
Slide 33: Reconciliation of Adjusted EBITDA to Adjusted Net Income (ANI)
Reconciliation of Adjusted EBITDA to Adjusted Net Income (ANI) €m H1 2024 H1 20231 Adjusted EBITDA 1,743 4,113 Economic depreciation, amortization, impairments & reversals -304 -401 Adjusted EBIT 1,439 3,712 Economic interest result 89 -166 Economic other financial results 0 0 Adjusted EBT 1,528 3,5
Slide 34: Cash-effective investments
Cash-effective investments €m H1 2024 H1 2023 Green Generation 65 58 Flexible Generation 115 110 Greener Commodities 36 63 Administration / Consolidation 13 8 Total 229 240 thereof Growth 91 74 thereof Maintenance and replacement 138 166 Capital Markets Story, August 2024 34
Slide 35: New segmentation effective since 1 January 2024
New segmentation effective since 1 January 2024 Old segmentation New segmentation New Sub-Segments Hydro Green Nuclear Generation European Renewables Generation Flexible Gas-fired Generation Generation Coal-fired Generation Gas Midstream Global Greener Greener Gases Commodities Commodities Power & O
Slide 36: Well-diversified European generation portfolio
Well-diversified European generation portfolio Net capacity by country and fuel type1 Net capacity by fuel type GW Other GW 2.8 Hard coal Hydro 6.2 3.6 Sweden 1.4 20231 22.4 GW Nuclear 8.5 Natural gas UK 4.2 Netherlands UK Electricity generation by technology 1.6 Germany TWh 6.4 Hard coal2 Hydro 9.8
Slide 37: Uniper – Contact your Investor Relations team
Uniper – Contact your Investor Relations team Sebastian Veit Peter Wirtz Head of Investor Relations (EVP) Manager Investor Relations +49 151 5504 9337 +49 160 529 1264 sebastian.veit@uniper.energy peter.wirtz@uniper.energy Eva Götze Silvia Spisla Sabine Burkhardt Manager Investor Relations Manager I
Slide 38: Disclaimer
Disclaimer This document and the presentation to which it relates contains information relating to Uniper SE, ("Uniper" or the "Company") that must not be relied upon for any purpose and may not be redistributed, reproduced, published, or passed on to any other person or used in whole or in part for