Gaztransport & Technigaz Sa · EURONEXT:GTT
Gaztransport & Technigaz Sa — 9M 2026 Earnings Presentation
35 slides from Gaztransport & Technigaz Sa's earnings presentation, Oct 23, 2026
Slide 1: Q3 2026 Activity Update
Q3 2026 Activity Update 23 October 2026
Slide 2: Disclaimer
Disclaimer This presentation does not contain or constitute an offer of securities for sale or an invitation or inducement to invest in securities in France, the United States or any other jurisdiction. It includes only summary information and does not purport to be comprehensive. No representation,
Slide 3: Agenda
Agenda 01 02 03 04 05 Key GTT Energy GTT Marine 9M Revenue Outlook & Highlights Conclusion 3
Slide 4: Key highlights
1 Key highlights
Slide 5: 9M 2026: Key highlights
9M 2026: Key highlights GTT Energy 80 vs. 27 in 9M 2025 Market update new orders for containment • 51 Mtpa of new liquefaction capacity reached FID in 9M 2026 systems of which 71 LNG Carriers Services: presentation of the LNG Performance Centre, to be rolled-out in 2027 • First module of the offerin
Slide 6: Energy
2 Energy
Slide 7: 2026 already 3rd best year for FID
2026 already 3rd best year for FID VOLUME Contracted Start LNG PROJECT * COUNTRY OPERATOR (Mtpa) (SPA) date FIDs in 2025 10 Projects Mainly USA East -- 84 Mtpa -- ‘27 to ‘31 Qatar North Field West Qatar Qatar Energy 16 2033 CP2 Phase 2 USA East Venture Global c. 7 2028 FIDs in 2026 Commonwealth LNG
Slide 8: Update on Middle-East situation
Update on Middle-East situation LNG carriers transiting the Strait of Hormuz after 28/02/2026 100 50 Situation snapshot: • The ongoing conflict in the Middle East continues to disrupt the energy and maritime transportation markets, 0 Pre-war Mar. Apr. May Jun. Jul. Aug. Sept. notably the persisting
Slide 9: LNG Performance Centre: a first milestone in the rollout of our enhanced service offering
LNG Performance Centre: a first milestone in the rollout of our enhanced service offering LNG Performance Centre 1st module: LNG Cargo insights LNG Cargo Insights GTT Cargo insights addresses one of the top 3 concerns that shipowners and Continuous LNG & BOG composition charterers face while transpo
Slide 10: Innovation: selected recent developments advancing our roadmap
Innovation: selected recent developments advancing our roadmap Enhance LNGCs overall Services Expanding GTT’s technology in performance to operations the field of LNG as Fuel 200k m3 providing enhanced capacity Reduce maintenance costs Offering new LNG as fuel solution for and operational flexibilit
Slide 11: Marine
Gi 1 Marine
Slide 12: GTT Marine: key 9M 2026 highlights
GTT Marine: key 9M 2026 highlights Delivering on priorities • Continuous development of installed base, including contracts with major customers such as Petronas and Petrobras 17,700 • SMM 2026 trade fair in Hamburg: installed base +4% increase vs start of 2026 o Fully integrated software platform p
Slide 13: 9M Revenue
4 9M Revenue
Slide 14: 9M 2026 orderbook: Strong order intake
9M 2026 orderbook: Strong order intake Order book Dec. 2025 9M 2026 new orders 9M 2026 deliveries Order book Sept. 2026 LNGC 261 +71 (66) 266 VLEC/ULEC 21 +2 (2) 21 FSRU 3 +1 (1) 3 FLNG 3 +1 - 4 Onshore - +5 - 5 GTT order book movements +80 (69) (core business) 288 299 Order book Dec. 2025 9M 2026 n
Slide 15: 9M 2026: Consolidated Revenue
9M 2026: Consolidated Revenue Total Revenue: -4.9% YoY in €m 9M 2026 9M 2025 Change (%) GTT Energy: -9.4% YoY Total revenue 570.1 599.6 -4.9% • Activity in line with the volume of ships under GTT Energy 522.0 576.0 -9.4% construction, yet impacted by the low level of orders in 9M 2025, and a lower l
Slide 16: Outlook & Conclusion
5 Outlook & Conclusion
Slide 17: 2026 Outlook confirmed
2026 Outlook confirmed Revenues(1) • 2026 to be compared with a high base of 2025 (effect of 2022 orders peak) 2026 consolidated revenue estimated in a • 2026 activity impacted by the temporary slowdown of range of €740M to €780M order entries in the first half of 2025 EBITDA • Implied EBITDA margin
Slide 18: Key takeaways
Key takeaways Robust order intake, sustained LNG market dynamic • 80 new orders in 9M 2026 • Orderbook on record levels at €1.8bn • Already the 3rd best year for FIDs Strong innovation activity • New GTT Energy service offering unveiled at Gastech 2026 • Several AiPs to further strengthen GTT’s memb
Slide 19: Q&A
Q&A 19
Slide 20: Appendices
Appendices
Slide 21: A new setup to foster the execution of our strategy
A new setup to foster the execution of our strategy Advanced ENERGY MARINE technologies hub Containment and energy Critical marine and digital solutions for Investments in breakthrough management systems vessel safety and performance technologies • LNG Carriers – Ethane Carriers – • Data collection
Slide 22: Continued momentum for FIDs, led by the US
Continued momentum for FIDs, led by the US FID volume by country1, Mtpa 84 After 84 Mtpa decided in 2025, a total of 51 Mtpa new liquefaction 56 capacity has reached FID this 61 51 year 39 37 21 32 37 Of which 21 Mtpa in the USA 29 31 27 • CP2 Phase 2 Yearly average 23 23 9 21 • Commonwealth LNG 25
Slide 23: GTT Energy: increased flexibility and route diversification to secure LNG supply
GTT Energy: increased flexibility and route diversification to secure LNG supply 485 156 130 19 3 Canada 236 126 82 271 Legend: Main producers of LNG Europe (Mtpa 2025 & 2040) 106 Main consumers of LNG Qatar 1.2 (Mtpa 2025 & 2040) 1.2 x Asia* Major LNG flows USA 40 47 Arrow thickness represents rout
Slide 24: GTT Energy: shipyard capacity continues to expand
GTT Energy: shipyard capacity continues to expand SHIPYARDS’ LNGC SLOTS 100+ Korean and Chinese shipyards continue to increase capacity c.90 • Strong ambitions with new docks in China • Korea largely focusing on LNGCs c.70 c.55 GTT is engaging with other countries willing to set up LNGC production o
Slide 25: Fleet Replacement: an ageing fleet becoming increasingly costly to run
Fleet Replacement: an ageing fleet becoming increasingly costly to run ANNUAL FUEL COST TO TRANSPORT 1 MTPA AGEING FLEET IN THE NEXT 10 YEARS FLEET BREAKDOWN BY ENGINE (USA - EU ROUTE IN 2026) 350 – 48% MEGI/XDF 137 – 19% DFDE 200 – 27% Steam Turbine 48 – 7% Diesel LNGC aged 20y+ old Fuel cost EU ET
Slide 26: Fleet Replacement: scrapping at record levels
Fleet Replacement: scrapping at record levels NUMBER OF LNGC SCRAPPED AND CONVERTED AGE OF VESSELS AT TIME OF SCRAPPING Scraps Conversion (FSU, FSRU, FLNG) Source: GTT, press Source: GTT, press 2025: A record year for scrapping Vessels scrapped are increasingly younger • 15 LNGC have been scrapped i
Slide 27: GTT Energy: Long term LNG demand revised upwards
GTT Energy: Long term LNG demand revised upwards Long term LNG supply/demand forecasts keep increasing Wood Mackenzie Q2 26 CAGR 2026-2035: c.5% Q1 25 in dotted line in central scenarios +50 Mtpa Shell c.80% of LNG demand increase to Q2 26 Q1 25 in dotted line come from Asia Growing need in MENA reg
Slide 28: GTT Energy: Gas and LNG growing in the energy mix
GTT Energy: Gas and LNG growing in the energy mix EVOLUTION OF GLOBAL ENERGY MIX ASIAN ENERGY MIX 2025 & 2050 2025 1% 3% 9% 11% 40% 4% Asia still represents c.85% 4% of worldwide coal demand 8% 35% 20% 30% 26% 9% Gas 7% 25% Oil 20% 22% Wind & Solar 15% Coal 47% Hydro & Bioenergy 10% 29% (Gas of whic
Slide 29: Core business Orderbook: €1.9 Bn of secured revenues
Core business(1) Orderbook: €1.9 Bn of secured revenues ORDER BOOK BY YEAR OF DELIVERY (UNITS PER YEAR) In units As at June 2025 As at June. 2026 94 97 98 90 89 The core business orderbook 69 stands at 306 units, split as such: 50 40 (2) 26 ➢ 272 LNG carriers 47 ➢ 22 VLEC/ULEC 2026 2027 2028 ≥2029 ➢
Slide 30: Continuous improvement of Boil-off rate
Continuous improvement of Boil-off rate Boil-off rate of GTT technologies(1) 0.15% 0.15% Boil-off rate (%/d) 0.125% 0.10% Enabling better 0.085% 0.085% energy efficiency 0.07% 0.07% by halving boil-off rate in a decade Mark III Mark III Mark III NO96 NO96GW NO96 NO96 GTT Flex Flex+ L03+ Super+ Next1
Slide 31: Innovation GTT NEXT1 brings reliability and performance to the next level
Innovation GTT NEXT1 brings reliability and performance to the next level Benefits for GTT stakeholders: Stainless Steel corrugated Primary Membrane (same as MarkIII) Invar Secondary Membrane • For charterers: lower consumption and optimum compatibility (same as NO96) to new systems or alternative f
Slide 32: GTT Strategic Ventures: Investing in a sustainable world
GTT Strategic Ventures: Investing in a sustainable world Q3 22 Q4 22 Q3 23 Q2 24 Q2 24 * Developer of an Finnish specialist in Norwegian specialist in French designer of automated wind- management of Cargo Cryogenics expert and multi-gas & emission an energy assisted propulsion and maritime fleets l
Slide 33: An attractive business model supporting high cash generation
An attractive business model supporting high cash generation INVOICING AND REVENUE RECOGNITION % of contract (1) 10000 c. 9 to12 months studies c. 18 months royalties Delivery Business model supports high cash generation • Contracts with shipyards are in Euros 8000 Ship • Revenue is recognized pro-r
Slide 34: Glossary
Glossary The following abbreviations have been used throughout this document BOR Boil Off Rate FSU Floating Storage Unit MEGI M-type, Electronically Controlled Gas Injection APAC Asia-Pacific GBS Gravity Based Structure Mtpa Million tons per annum CAGR Compound Annual Growth Rate GHG Greenhouse Gase
Slide 35: Contacts
CONTACTS GTT is a technology and engineering group with expertise in the design and development of Investor relations contact: cryogenic membrane containment systems for use in the transport and storage of liquefied [email protected] gases. Over the past 60 years, the GTT Group has desig
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