Engie S.A. · EURONEXT:ENGI
Engie — 9M 2026 Earnings Presentation
24 slides from Engie's earnings presentation, Nov 5, 2026
Slide 1: 9M 2026 Financial information
9M 2026 Financial information 05 November 2026
Slide 2: Catherine MacGregor
9M 2026 FINANCIAL INFORMATION CATHERINE MACGREGOR 2 ENGIE NOVEMBER 2026
Slide 3: 9M 2026 Highlights
9M 2026 FINANCIAL INFORMATION 9M 2026 HIGHLIGHTS Robust 9M results, Strong focus on Belgian confirmed guidance at execution nuclear the upper end of in Renewables, Storage update the range and Networks 3 ENGIE NOVEMBER 2026
Slide 4: ENGIE Strong, Resilient Risk Profile
9M 2026 FINANCIAL INFORMATION ENGIE STRONG, RESILIENT RISK PROFILE Watertight Net Debt1: 78% fixed Resilient Bund Spread Inflation & long-term rates Well protected against higher ENGIE spread remains contained A natural hedge through earnings base interest rates and in line with the sector regulated
Slide 5: Robust Earnings: 2026 Guidance Confirmed, at the Upper End of the Range
9M 2026 FINANCIAL INFORMATION ROBUST EARNINGS 2026 GUIDANCE CONFIRMED, AT THE UPPER END OF THE RANGE EBIT ex. Nuclear Performance Economic net debt 2026 guidance confirmed €7.0bn €406m €62.5bn up 9.7% vs. 9M 2025 NRIgs expected at the upper end of the range of €4.9 to €5.5bn 5 ENGIE NOVEMBER 2026
Slide 6: Strong Execution in Renewables & BESS, Good Commercial Momentum in B2B Supply
9M 2026 FINANCIAL INFORMATION STRONG EXECUTION IN RENEWABLES & BESS GOOD COMMERCIAL MOMENTUM IN B2B SUPPLY High level of Expansion in PPAs signed 24/7 offers 60.2 GW • Saudi Arabia total capacity Signature of Al Khushaybi BESS 3.2 GW First 24/7 renewable energy agreement in of which 3.0 GW added sig
Slide 7: ENGIE Exceeds 10 GW of Storage Capacity Worldwide
9M 2026 FINANCIAL INFORMATION ENGIE EXCEEDS 10 GW OF STORAGE CAPACITY WORLDWIDE Strong development in Europe in Q3 POLAND Acquisition of a 758 MW / 2.2 GWh portfolio > 10 GW UK Start of its first 2 BESS for a total capacity of 100 MW / 200 MWh Storage capacity in operation and under THE NETHERLANDS
Slide 8: Continued Expansion in Networks
9M 2026 FINANCIAL INFORMATION CONTINUED EXPANSION IN NETWORKS Smooth integration of UKPN, ENGIE & CMA CGM outstanding operational to develop a biomethane track record production facility in Le Havre €452m 11.2% 100 GWh EBIT contribution RoRE achieved of biomethane at end-September 2026 over first 3
Slide 9: Pierre-François Riolacci
9M 2026 FINANCIAL INFORMATION PIERRE-FRANÇOIS RIOLACCI EVP in charge of Finance, ESG and Procurement 9 ENGIE NOVEMBER 2026
Slide 10: Financial Performance Highlights
9M 2026 FINANCIAL INFORMATION FINANCIAL PERFORMANCE HIGHLIGHTS Strong delivery and disciplined 9M RESULTS €bn, unaudited figures1 Actual ∆ ∆ Gross Organic2 investment support resilient EBITDA (excl. Nuclear) 10.7 +9% +3% performance EBIT (excl. Nuclear) 7.0 +10% +3% • EBITDA and EBIT excluding Nucle
Slide 11: 9M EBIT Evolution
9M 2026 FINANCIAL INFORMATION 9M EBIT EVOLUTION EBIT (excl. Nuclear) (€m) 6,961 +406 +452 +418 -98 6,961 1,832 6,346 -43 -239 -280 Supply & FX +2 Energy Management UK Investments Scope -45 Power 1 Networks Price & Others Performance & Volatility Volumes 3,014 Infrastructures Commissioning Performanc
Slide 12: 9M EBIT Evolution by Reporting Segment
9M 2026 FINANCIAL INFORMATION 9M EBIT EVOLUTION BY REPORTING SEGMENT (€m) -65 +99 -166 Renewable 2,708 & Flex Power FX & Renewable Gas 2,576 Scope & BESS Generation 9M 2025 9M 2026 (€m) +456 +41 +16 +49 3,014 Infrastructures 2,451 FX & Gas Power Local Energy Scope Networks Networks Infrastructures 9
Slide 13: Cash Flow from Operations
9M 2026 FINANCIAL INFORMATION CASH FLOW FROM OPERATIONS Change in WCR: -3.6 (€bn) +0.1 -1.1 Solid cash Operating -1.1 11.4 cash flow generation, Inventory Operating -1.5 +0.1 despite the Net Working Margin Other -0.5 impact of higher Capital Calls changes Taxes & 7.5 in WCR energy prices on interest
Slide 14: Strategic Investment Increases Net Debt While Maintaining a Strong Credit Profile
9M 2026 FINANCIAL INFORMATION STRATEGIC INVESTMENT INCREASES NET DEBT WHILE MAINTAINING A STRONG CREDIT PROFILE Leverage ratios Economic Net Debt 4.2x (€bn) 3.9x 4.0x +13bn Net debt 3.1x reflecting -3.0 +4.2 +0.8 -0.4 2.6x investment in -3.1 Capital +19.1 increase Hybrid Dividends FX Others 62.5 UK
Slide 15: Belgian Nuclear Provisions
9M 2026 FINANCIAL INFORMATION BELGIAN NUCLEAR PROVISIONS Nuclear provisions expected stable Until 31 Dec. 2025 IFRS provision aligned with latest CPN triennial review + €8.6bn + From Dec. 2026 Provisions based on ENGIE best estimate Updated costs & contingencies, Discount Revised market-based discou
Slide 16: Full Year Guidance Expected in the Upper End of the Range
9M 2026 FINANCIAL INFORMATION FULL YEAR GUIDANCE EXPECTED IN THE UPPER END OF THE RANGE 2026: key assumptions FX: • €/USD: 1.16 €14.3 - 15.3bn Rating • €/BRL: 5.96 • €/GBP: 0.87 “Strong investment grade” Economic Net Debt / EBITDA Market commodity forward prices ≤ 4.0x over the long term as of 30 Se
Slide 17: 9M 2026 Summary
9M 2026 FINANCIAL INFORMATION 9M 2026 SUMMARY Robust 9M results, Strong focus on Update on confirmed guidance at execution in Renewables, Belgian nuclear the upper end of Storage, Data centers deal the range and Networks 17 ENGIE NOVEMBER 2026
Slide 18: Additional Material
ADDITIONAL MATERIAL
Slide 19: Q3 EBIT Evolution
9M 2026 FINANCIAL INFORMATION Q3 EBIT EVOLUTION +11% organic growth (excluding Nuclear) EBIT (excl. Nuclear) (€m) +40 -55 +69 +32 1,698 +62 -29 -5 -6 +32 +308 Renewable Gas Gas Power Local B2C B2B Energy Others 1,251 FX +38 & Generation Networks Networks Energy Management Scope1 +269 BESS Infrastruc
Slide 20: 9M 2026 EBIT Change by Activity
9M 2026 FINANCIAL INFORMATION 9M 2026 EBIT CHANGE BY ACTIVITY Gross Organic (€m) 9M 26 Variance Variance Key drivers Renewable & Contribution from capex, operational performance 1,928 +127 +99 BESS Lower power prices in Europe, lower hydro volumes, FX (USD) Contribution of Flémalle and new CRM
Slide 21: EBIT Breakdown by Geography
EBIT BREAKDOWN BY GEOGRAPHY 9M 2026 FINANCIAL INFORMATION 9M 2026 Rest of Latin North France AMEA Others TOTAL (€m) Europe America America RENEWABLE & FLEX POWER 147 528 1,114 583 235 (32) 2,576 Renewables & BESS 165 361 842 527 64 (31) 1,928 Gas Generation (18) 167 272 56 171 (1) 647 INFRASTRUCTURE
Slide 22: Outright Power Production in Europe
9M 2026 FINANCIAL INFORMATION OUTRIGHT POWER PRODUCTION IN EUROPE NUCLEAR AND HYDRO Hedged positions and captured prices (% and €/MWh) 100% 92% 67% 39% As of 30 September 2026 France & Belgium 100 Starting in 2026, nuclear volumes hedged are limited 78 to French production, as Belgian nuclear produc
Slide 23: Disclaimer
9M 2026 FINANCIAL INFORMATION 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
Slide 24: For More Information About ENGIE
9M 2026 FINANCIAL INFORMATION FOR MORE INFORMATION ABOUT ENGIE +33 1 44 22 66 29 [email protected] https://www.engie.com/en/financial-results 24 ENGIE NOVEMBER 2026