Engie SA

07/29/2022 | Press release | Distributed by Public on 07/29/2022 01:39

Databook Excel

SLIDE 4

ANALYSIS BY ACTIVITY
Revenue breakdown
H1 20221 France Rest of Europe Latin America Others TOTAL
(€m) Northern America2 AMEA3
Renewables 1,160 147 1,049 100 23 6 2,485
Networks 3,003 132 515 3,650
Energy Solutions 3,253 1,475 25 221 196 417 5,587
Thermal 1,850 882 6 484 3,222
Supply 4,003 3,692 8 402 64 8,169
Nuclear (23) (23)
Others4 20,077 20,077
o/w GEMS 20,064 20,064
TOTAL 11,420 7,272 2,480 327 1,104 20,565 43,167
H1 2021 France Rest of Europe Latin America Others TOTAL
(€m) Northern America2 AMEA3
Renewables 674 45 789 10 39 (8) 1,549
Networks 3,028 146 476 31 3,680
Energy Solutions 2,693 1,215 20 186 189 411 4,713
Thermal 471 769 7 449 1,696
Supply 2,803 1,669 5 307 39 4,824
Nuclear 15 15
Others4 0 (5) (7) 8,583 8,571
o/w GEMS 8,423 8,423
TOTAL 9,197 3,561 2,054 197 1,016 9,024 25,048
1 Unaudited figures throughout Databook
2 Northern America = US & Canada. No change in the former perimeter, only a change of name
3 AMEA = Asia, Middle East and Africa
4 Including mainly Corporate, GEMS (GEM + main Supply B2B activities) and GTT

SLIDE 5

ANALYSIS BY ACTIVITY
EBITDA breakdown
H1 2022 France Rest of Europe Latin America Others TOTAL
(€m) Northern America AMEA
Renewables 277 195 521 124 12 (27) 1,101
Networks 1,910 92 387 (2) (5) 2,382
Energy Solutions 305 92 1 11 28 (56) 380
Thermal 543 115 22 224 (13) 891
Supply 510 34 3 14 (6) 555
Nuclear 1,089 1,089
Others1 (4) 1 12 (0) 1,073 1,082
o/w GEMS 1,161 1,161
TOTAL 3,001 2,041 1,028 167 278 965 7,480
H1 2021 France Rest of Europe Latin America Others TOTAL
(€m) Northern America AMEA
Renewables 257 88 397 (1) 24 (13) 750
Networks 2,029 101 258 1 18 (4) 2,402
Energy Solutions 293 102 0 (1) 23 (37) 380
Thermal 262 266 20 233 (13) 769
Supply 208 139 (1) (3) (10) 334
Nuclear 402 402
Others1 0 (0) 1 (4) (0) 149 146
o/w GEMS 280 280
TOTAL 2,787 1,093 920 16 295 71 5,183
1 Including mainly Corporate, GEMS (GEM + main Supply B2B activities) and GTT

SLIDE 6

ANALYSIS BY ACTIVITY
EBIT breakdown
H1 2022 France Rest of Europe Latin America Others TOTAL
(€m) Northern America AMEA
Renewables 205 166 421 58 9 (30) 828
Networks 1,059 69 351 (2) (5) 1,471
Energy Solutions 170 47 (1) 5 22 (84) 160
Thermal 447 (2) 21 217 (16) 667
Supply 434 (8) 3 2 (8) 424
Nuclear 858 858
Others1 (4) 0 8 (0) 842 846
o/w GEMS 1,062 1,062
TOTAL 1,868 1,575 772 90 249 700 5,253
H1 2021 France Rest of Europe Latin America Others TOTAL
(€m) Northern America AMEA
Renewables 137 61 325 (42) 23 (14) 490
Networks 1,197 79 226 1 18 (4) 1,516
Energy Solutions 152 63 (1) (6) 16 (60) 164
Thermal 175 152 19 218 (13) 552
Supply 135 98 (1) (15) (11) 207
Nuclear 178 178
Others1 0 (0) 1 (9) (0) (100) (110)
o/w GEMS 201 201
TOTAL 1,622 654 701 (38) 261 (202) 2,998
1 Including mainly Corporate, GEMS (GEM + main Supply B2B activities) and GTT

SLIDE 7

ANALYSIS BY ACTIVITY
Breakdown of growth Capex net of DBSO1 and tax equity proceeds
H1 2022 France Rest of Europe Latin America Others TOTAL
(€m) Northern America AMEA
Renewables 101 1,072 312 (156) 5 6 1,339
Networks 325 28 152 505
Energy Solutions 125 28 3 26 38 37 258
Thermal 28 5 (13) 6 27
Supply 35 21 2 28 86
Nuclear
Others1 (0) 0 (0) 15 15
o/w GEMS 12 12
TOTAL 585 1,177 472 (129) 33 92 2,231
H1 2021 France Rest of Europe Latin America Others TOTAL
(€m) Northern America AMEA
Renewables 137 (41) 227 229 0 6 558
Networks 357 33 277 667
Energy Solutions 76 54 6 53 11 25 225
Thermal (3) 10 0 (25) 4 (14)
Supply 34 24 6 5 70
Nuclear
Others1 4 (0) (11) (0) 298 291
o/w GEMS (21) (21)
TOTAL 605 70 520 272 (8) 338 1,798
1 DBSO: Develop, Build, Share and Operate
2 Including mainly Corporate, GEMS (GEM + main Supply B2B activities) and GTT

SLIDE 8

ANALYSIS BY ACTIVITY
Breakdown of associates1
H1 2022 France Rest of Europe Latin America Others TOTAL
(€m) Northern America AMEA
Renewables 6 66 (5) 15 24 (0) 105
Networks 3 13 133 1 150
Energy Solutions 1 3 19 20 43
Thermal 19 21 131 171
Supply
Nuclear
Others2 12 12
o/w GEMS 1 1
TOTAL 11 100 128 56 175 12 482
H1 2021 France Rest of Europe Latin America Others TOTAL
(€m) Northern America AMEA
Renewables 8 14 (6) 11 13 (0) 41
Networks 4 21 109 1 134
Energy Solutions 2 1 17 24 44
Thermal 33 23 124 180
Supply
Nuclear
Others2 3 3
o/w GEMS 0 0
TOTAL 14 70 103 51 161 3 402
1 Associates = share in net recurring income of entities consolidated under equity method
2 Including mainly Corporate, GEMS (GEM + main Supply B2B activities) and GTT

SLIDE 9

ANALYSIS BY ACTIVITY
Renewables
Renewables
KFIs (€m) H1 2021 H1 2022 D 22/21 D org
Revenue 1,549 2,485 +60.5% +49.7%
EBITDA 750 1,101 +46.7% +35.3%
EBIT 490 828 +69.1% +53.5%
Growth Capex1 558 1,339 - -
Maintenance Capex 38 39 +0.5% -
1 Net of DBSO and US tax equity proceeds

SLIDE 10

ANALYSIS BY ACTIVITY
Renewables
KPIs
Renewables1 H1 2021 H1 2022 Renewables1 H1 2021 H1 2022
Total installed capacity @100% (GW) o/w 32.3 36.4 Total output @100% (TWh) o/w3 54.9 57.9
Hydro 17.8 17.9 Hydro 36.2 34.4
Onshore wind 10.4 12.3 Onshore wind3 14.2 16.9
Offshore wind 0.5 1.5 Offshore wind 0.8 1.5
Solar 3.5 4.5 Solar 3.1 4.2
Other RES 0.2 0.3 Other RES 0.6 0.9
Total installed capacity net ownership (GW) 16.4 18.5 H1 2021 H1 2022
Capacity under construction @100% 4.3 3.0 DBSO margins (€m) 12 43
New additional capacities @100% 1.2 2.2 Hydro volumes France4 (TWh @100%) 8.6 7.1
CNR - Achieved prices (€/MWh) 49.1 71.8
Availability hydro (%) excl. CNR2,3 90.9% 90.6% Brazil - GSF (%) 82% 91%
Load factor onshore wind (%)3 32.4% 33.1% Brazil - PLD (BRL/MWh) 201 57
Load factor solar (%)3 21.2% 20.8%
1 Excluding renewables capacity managed by Thermal and Energy Solutions, and including 0.1 GW of pumped storage in Germany
2 Including hydro activities in Brazil, Chile, Peru, Portugal, Spain and SHEM in France
3 Figures restated to include Offshore wind and internal reclassifications
4 Including CNR, SHEM and CN'Air

SLIDE 11

ANALYSIS BY ACTIVITY
Renewables
Installed capacity and electricity output H1 2022
Installed capacity1 by geography and technology Electricity output by geography and technology
At 100% (MW) France Rest of Europe Latin America Northern America AMEA TOTAL At 100% (TWh) France Rest of Europe Latin America Northern America AMEA TOTAL
Hydro 3,882 1,904 12,110 17,896 Hydro 7.1 1.2 26.1 34.4
Onshore wind 2,830 3,469 1,607 3,275 1,140 12,319 Onshore wind 2.7 3.5 2.6 6.1 2.0 16.9
Offshore wind 1,465 1,465 Offshore wind 1.5 1.5
Solar 1,264 215 1,236 662 1,083 4,460 Solar 0.9 0.1 1.2 0.8 1.3 4.2
Other RES 101 177 278 Other RES 0.2 0.7 0.9
TOTAL 7,976 7,052 15,053 3,937 2,400 36,419 TOTAL 10.7 6.3 30.1 6.9 4.0 57.9
In % of consolidation2 In % of consolidation2
(MW) France Rest of Europe Latin America Northern America AMEA TOTAL (TWh) France Rest of Europe Latin America Northern America AMEA TOTAL
Hydro 3,827 887 8,166 12,880 Hydro 7.1 0.6 16.2 23.9
Onshore wind 1,687 1,768 1,582 2,730 525 8,292 Onshore wind 1.6 1.8 2.6 5.1 0.9 11.9
Offshore wind 322 322 Offshore wind 0.4 0.4
Solar 667 127 1,173 650 470 3,086 Solar 0.4 0.1 1.1 0.8 0.6 3.0
Other RES 92 64 156 Other RES 0.2 0.3 0.4
TOTAL 6,181 3,103 11,012 3,380 1,059 24,735 TOTAL 9.1 2.8 20.0 5.9 1.8 39.6
Net ownership3 Net ownership3
(MW) France Rest of Europe Latin America Northern America AMEA TOTAL (TWh) France Rest of Europe Latin America Northern America AMEA TOTAL
Hydro 2,309 865 6,059 9,233 Hydro 4.0 0.5 12.5 17.0
Onshore wind 1,368 1,702 1,107 1,546 504 6,227 Onshore wind 1.3 1.7 1.8 3.0 0.9 8.6
Offshore wind 322 322 Offshore wind 0.4 0.4
Solar 628 117 980 417 473 2,616 Solar 0.4 0.1 0.9 0.5 0.6 2.5
Other RES 63 64 127 Other RES 0.1 0.3 0.4
TOTAL 4,305 3,008 8,209 1,963 1,041 18,526 TOTAL 5.7 2.7 15.3 3.5 1.7 28.9
1 Excluding renewables capacity managed by Thermal and Energy Solutions, and including 0.1 GW of pumped storage in Germany
2 % of consolidation for full operations affiliates and % holding for joint operations and equity consolidated companies
3 ENGIE ownership

SLIDE 12

ANALYSIS BY ACTIVITY
Renewables
Pipeline
Contract duration and hedge ratio
Years and volume in % of consolidation Solar Onshore wind Offshore wind
As at 30 June 2022
Geography Residual contract duration (years) Residual contract duration (years) Residual contract duration (years)
France 12.8 10.5
Rest of Europe 8.9 9.7 19.9
Latin America 17.9 9.8
o/w Brazil 17.0 8.7
Northern America 14.9 12.4
Rest of the world 22.1 16.7
16.3 11.4 19.9

SLIDE 13

ANALYSIS BY ACTIVITY
Networks
Networks
Normative temperature effects - France
KFIs (€m) H1 2021 H1 2022 D 22/21 D org GRDF Q1 Q2 H1
Revenue 3,680 3,650 -0.8% -1.4% Volumes 2021 (3.7) 10.1 6.4
EBITDA 2,402 2,382 -0.8% -1.5% (TWh) 2022 (9.6) (0.1) (9.8)
EBIT 1,516 1,471 -3.0% -3.9% ∆ 22/21 -6.0 -10.2 -16.2
Growth Capex 667 505 -24.4% - EBITDA / EBIT (€m) 2021 (26) 71 45
Maintenance Capex 493 514 +4.1% - 2022 (68) (1) (69)
∆ 22/21 -42 -72 -113

SLIDE 16

ANALYSIS BY ACTIVITY
Networks
KPIs
France H1 2021 H1 2022 International H1 2021 H1 2022
Gas distribution Gas distribution
RAB France 01/01 (€bn) 15.3 2 15.3 International, volume distributed (TWh) 98.4 89.9
France, return on RAB (%) 4.10% 4.10% o/w Latin America 39.6 41.2
France, volume distributed (TWh) 169.6 147.3 o/w Europe (excl. France) 56.8 48.7
Gas smart meters installed (m) 8.1 10.2 Gas transport
Gas transport International, volume transported (TWh) 134.9 133.5
RAB France 01/01 (€bn) 8.6 2 8.8 o/w Brazil 69.5 76.2
France, return on RAB (%) 4.25% 4.25% o/w Latin America (excl. Brazil) 61.3 57.3
France, volume transported (TWh) 333.5 365.6 Regasification
Gas storage Subscribed volume (TWh) 7.0 7.3
RAB France 01/01 (€bn) 3.8 2 3.9 o/w Latin America 7.0 7.3
France, return on RAB (%) 4.75% 4.75% Power networks
France, capacity sold (TWh) 96.5 96.5 Power networks length built @100% (km)​ 5,345 5,688
Germany, capacity sold (TWh)1 18.3 18.3 Power networks length operating @100% (km)​ 3,007 4,881
UK, capacity sold (TWh)1 4.5 5.1
Regasification Biomethane France FY 2021 H1 2022
RAB France 01/01 (€bn) 0.9 2 0.9 Biomethane capacity connection
France, return on RAB (%) 6.25% 6.25% Number of site connected to GRDF/GRTgaz 351 425
Subscribed volume (TWh) 116.3 120 Production capacity connected to GRDF/GRTgaz (GWh/y) 6,052 7,174
Biomethane own production
Net installed capacity @100% (GWh) 338 461
Production capacity under construction @100% (GWh) 345 310
1 International affiliates (mainly Storengy in Germany and UK, MEGAL) of French networks companies are reported under France
2 As at 31 December 2021
3 Figures restated to include internal reclassifications

SLIDE 17

ANALYSIS BY ACTIVITY
Energy Solutions
Energy Solutions
KFIs (€m) H1 2021 H1 2022 D 22/21 D org KPI H1 2021 H1 2022
Revenue 4,713 5,587 +18.5% +21.9% EBIT margin 3.5% 2.9%
EBITDA 380 380 0.0% -2.0% EBIT margin (excluding EVBox) 4.7% 4.1%
EBIT 164 160 -2.6% -8.8%
Growth Capex 225 258 +14.6% - Dec. 2021 June 2022
Maintenance Capex 72 71 -1.5% - Commercial Backlog - French concessions - TO (€bn) 16.8 18.1
Installed capacity @100% (GW)
Distributed energy infrastructures1 24.1 24.6
1 Restated data to exclude countries ENGIE exited or stopped developments following geographical rationalization presented in May 2021

SLIDE 19

ANALYSIS BY ACTIVITY
Thermal
Thermal
KFIs (€m) H1 2021 H1 2022 D 22/21 D org
Revenue 1,696 3,222 +90.0% +77.5%
EBITDA 769 891 +15.9% +11.9%
EBIT 552 667 +20.8% +16.6%
Growth Capex +14 (27) - -
Maintenance Capex 116 107 -8.3% -

SLIDE 20

ANALYSIS BY ACTIVITY
Thermal
KPIs
Thermal H1 2021 H1 2022 Thermal H1 2021 H1 2022
Capacity @100% (GW) 62.4 59.7 Capacity @100% (GW) 62.4 59.7
Installed contracted capacity 41.2 39.5 Gas contracted 35.2 34.8
Installed merchant capacity 21.2 20.3 Coal contracted 3.5 2.2
Gas merchant 16.0 15.0
Production @100% (TWh) 129.9 126.8 Coal merchant 0.7 0.5
Contracted 104.5 101.9 Pumped storage1 3.3 3.3
Merchant 25.4 24.9 Other 3.7 3.9
Production @100% (TWh) 129.9 126.8
H1 2021 H1 2022 Gas contracted 93.4 93.8
Average captured clean spark spreads Europe (€/MWh) 12.7 26.6 Coal contracted 9.6 6.4
Average technical availability (%) 88% 89% Gas merchant 21.9 21.1
Contracted EBIT (%) 73% 44% Coal merchant 0.8 0.5
Load factor (%) 48% 49% Pumped storage1 1.1 1.5
CO2 (mt) 30 26 Other 3.2 3.5
1 Pumped storage + 143 MW of other hydro capacity managed by Thermal GBU

SLIDE 21

ANALYSIS BY ACTIVITY
Thermal
Capacity and output by geography and by technology
As at 30 June 2022 / H1 2022
At 100%
INSTALLED CAPACITY (MW)
Europe o/w France o/w Belgium o/w Italy o/w Netherlands o/w Others Latin America o/w Brazil o/w Chile o/w Mexico o/w Peru Northen America AMEA o/w Middle East and Turkey o/w Asia o/w Africa TOTAL
Natural gas 14,620 1,403 2,970 3,486 2,943 3,818 1,847 629 301 917 656 32,649 28,520 4,129 49,772
Pumped storage1 3,311 1,102 75 2,134 3,311
Coal 1,535 317 1,094 125 1,250 1,250 2,785
Other 1,526 788 738 1,218 54 1,164 1,137 134 1,003 3,881
TOTAL 19,457 2,191 4,809 3,561 2,943 5,952 4,600 317 1,776 301 2,205 656 35,036 28,520 4,263 1,253 59,749
ELECTRICITY OUTPUT (TWh)
Europe o/w France o/w Belgium o/w Italy o/w Netherlands o/w Others Latin America o/w Brazil o/w Chile o/w Mexico o/w Peru Northen America AMEA o/w Middle East and Turkey o/w Asia o/w Africa TOTAL
Natural gas 22.1 3.1 4.3 6.4 3.0 5.3 3.3 0.7 0.9 1.7 1.7 87.8 78.8 9.0 114.9
Pumped storage1 1.5 0.7 0.0 0.8 1.5
Coal 2.2 0.4 1.8 0.0 4.7 4.7 6.9
Other 2.6 0.8 1.8 0.1 0.1 0.0 0.9 0.3 0.5 3.5
TOTAL 26.2 3.9 6.7 6.4 3.0 6.1 5.6 0.4 2.6 0.9 1.7 1.7 93.4 78.8 9.3 5.2 126.8
1 Pumped storage + 143 MW of other hydro capacity managed by Thermal GBU

SLIDE 22

ANALYSIS BY ACTIVITY
Thermal
Capacity and output by geography and by technology
As at 30 June 2022 / H1 2022
In % of consolidation
INSTALLED CAPACITY (MW)
Europe o/w France o/w Belgium o/w Italy o/w Netherlands o/w Others Latin America o/w Brazil o/w Chile o/w Mexico o/w Peru Northen America AMEA o/w Middle East and Turkey o/w Asia o/w Africa TOTAL
Natural gas 12,110 1,403 2,734 2,335 2,943 2,695 1,847 629 301 917 391 10,084 7,750 2,334 24,432
Pumped storage1 3,273 1,102 38 2,134 3,273
Coal 1,535 317 1,094 125 416 416 1,952
Other 1,526 788 738 1,218 54 1,164 515 134 381 3,259
TOTAL 16,909 2,191 4,574 2,372 2,943 4,829 4,600 317 1,776 301 2,205 391 11,015 7,750 2,468 797 32,916
ELECTRICITY OUTPUT (TWh)
Europe o/w France o/w Belgium o/w Italy o/w Netherlands o/w Others Latin America o/w Brazil o/w Chile o/w Mexico o/w Peru Northen America AMEA o/w Middle East and Turkey o/w Asia o/w Africa TOTAL
Natural gas 17.7 3.1 3.8 5.1 3.0 2.7 3.3 0.7 0.9 1.7 0.9 27.4 21.6 5.8 49.2
Pumped storage1 1.5 0.7 0.0 0.8 1.5
Coal 2.2 0.4 1.8 0.0 1.6 1.6 3.7
Other 2.6 0.8 1.8 0.1 0.1 0.0 0.3 0.1 0.2 3.0
TOTAL 21.8 3.9 6.3 5.1 3.0 3.5 5.6 0.4 2.6 0.9 1.7 0.9 29.3 21.6 5.9 1.8 57.4
1 Pumped storage + 143 MW of other hydro capacity managed by Thermal GBU (mainly in Italy)

SLIDE 23

ANALYSIS BY ACTIVITY
Thermal
Capacity and output by geography and by technology
As at 30 June 2022 / H1 2022
Net ownership
INSTALLED CAPACITY (MW)
Europe o/w France o/w Belgium o/w Italy o/w Netherlands o/w Others Latin America o/w Brazil o/w Chile o/w Mexico o/w Peru Northen America AMEA o/w Middle East and Turkey o/w Asia o/w Africa TOTAL
Natural gas 12,029 1,403 2,734 2,254 2,943 2,695 1,245 377 301 566 307 9,906 7,750 2,156 23,487
Pumped storage1 2,751 1,102 38 1,612 2,751
Coal 951 218 656 77 416 416 1,367
Other 1,526 788 738 751 32 719 478 96 381 2,755
TOTAL 16,307 2,191 4,574 2,292 2,943 4,307 2,947 218 1,066 301 1,362 307 10,800 7,750 2,253 797 30,360
ELECTRICITY OUTPUT (TWh)
Europe o/w France o/w Belgium o/w Italy o/w Netherlands o/w Others Latin America o/w Brazil o/w Chile o/w Mexico o/w Peru Northen America AMEA o/w Middle East and Turkey o/w Asia o/w Africa TOTAL
Natural gas 17.4 3.1 3.8 4.9 3.0 2.6 2.4 0.4 0.9 1.1 0.6 27.2 21.6 5.6 47.6
Pumped storage1 1.3 0.7 0.0 0.6 1.3
Coal 1.3 0.3 1.1 1.6 1.6 2.9
Other 2.6 0.8 1.8 0.1 0.1 0.3 0.1 0.2 2.9
TOTAL 21.3 3.9 6.3 4.9 3.0 3.2 3.8 0.3 1.5 0.9 1.1 0.6 29.0 21.6 5.7 0.2 54.7
1 Pumped storage + 143 MW of other hydro capacity managed by Thermal GBU (mainly in Italy)

SLIDE 24

ANALYSIS BY ACTIVITY
Supply
Supply
Normative temperature effects - B2C France
KFIs (€m) H1 2021 H1 2022 D 22/21 D org Q1 Q2 H1
Revenue 4,824 8,169 +69.4% +69.1% Volumes 2021 (1.2) 3.2 2.0
EBITDA 334 555 +66.1% +66.8% (TWh) 2022 (2.9) (0.0) (3.0)
EBIT 207 424 - - ∆ 22/21 -1.8 -3.2 -5.0
Growth Capex 70 86 +22.6% - EBITDA / EBIT (€m) 2021 (12) 32 20
Maintenance Capex 60 44 -25.8% - 2022 (29) (0) (30)
∆ 22/21 -18 -32 -50

SLIDE 25

ANALYSIS BY ACTIVITY
Supply
Supply volume
H1 2022 B2C
(TWh) Gas Power TOTAL
France 39.0 12.5 51.4
o/w Green Power 9.9 9.9
Rest of Europe 36.0 7.4 43.4
Latin America 3.2 3.2
AMEA 1.4 1.1 2.5
TOTAL 79.6 20.9 100.5
H1 2021 B2C
(TWh) Gas Power TOTAL
France 48.7 12.1 60.8
o/w Green Power 9.2 9.2
Rest of Europe 40.9 8.5 49.4
Latin America 2.8 2.8
AMEA 1.6 1.0 2.6
TOTAL 94.0 21.5 115.5

SLIDE 26

ANALYSIS BY ACTIVITY
Supply
B2C total contracts
H1 2022 Gas Power Services TOTAL H2 2021 Gas Power Services TOTAL
(k) (k)
France 6,131 5,350 1,561 13,042 France 6,213 5,143 1,564 12,921
o/w Regulated tariffs 2,490 2,490 o/w Regulated tariffs 2,627 2,627
o/w Green Power 4,377 4,377 o/w Green Power 4,087 4,087
Rest of Europe 4,468 3,416 981 8,864 Rest of Europe 4,404 3,344 1,027 8,775
AMEA 312 424 735 AMEA 312 423 735
TOTAL 10,910 9,189 2,543 22,642 TOTAL 10,928 8,911 2,592 22,431

SLIDE 27

ANALYSIS BY ACTIVITY
Nuclear
Nuclear
KFIs (€m) H1 2021 H1 2022 D 22/21 D org
Revenue 15 (23) - -
EBITDA 402 1,089 - -
EBIT 178 858 - -
Growth Capex - - - -
Maintenance Capex 118 153 +29.5% -

SLIDE 28

ANALYSIS BY ACTIVITY
Nuclear
KPIs and nuclear assets
KPIs H1 2021 H1 2022 Nuclear reactors Operator Installed ENGIE End of
Achieved price (€/MWh) 47.1 95.6 capacity capacity operations / contracts
Total production @conso share (TWh) 23.5 22.2 @100% (MW) (MW)
Belgium (TWh) @100% 23.8 21.9 Doel 3 ENGIE 1,006 903 1/10/22
France (TWh) @100% 3.4 3.2 Tihange 2 ENGIE 1,008 905 1/2/23
Drawing rights Belgium (TWh) @100% (3.8) (2.9) Doel 1 ENGIE 445 445 02/15/2025
Availability Belgium @100% 0.9 0.8 Doel 4 ENGIE 1,038 932 1/7/25
Tihange 3 ENGIE 1,038 932 1/9/25
Tihange 1 ENGIE 962 481 1/10/25
Doel 2 ENGIE 445 445 1/12/25
Chooz B (swap) EDF - (100) 2025
Chooz B (drawing rights)2 EDF - 750 2037
Tricastin (drawing rights)3 EDF - 468 2031
TOTAL 6,161
2 Chooz: 750 MW * average availability of total EDF nuclear fleet in France (excl. Tricastin)
3 Tricastin: 468 MW * local availability of Tricastin units

SLIDE 31

ANALYSIS BY ACTIVITY
Others
Others (GEMS1, E&C, GTT and Others)
Normative temperature effects - French Supply B2B activities1
KFIs (€m) H1 2021 H1 2022 D 22/21 D org Q1 Q2 H1
Revenue 8,571 20,077 - - Volumes 2021 (0.3) 0.9 0.5
EBITDA 146 1,082 - - (TWh) 2022 (0.8) (0.0) (0.8)
EBIT (110) 846 - - ∆ 22/21 -0.5 -0.9 -1.4
Growth Capex 291 15 -94.8% - EBITDA / EBIT (€m) 2021 (3) +9 +5
Maintenance Capex 113 112 -1.0% 2022 (8) (0) (8)
∆ 22/21 -5 -9 -14
1 GEMS = GEM + main Supply B2B activities

SLIDE 32

ANALYSIS BY ACTIVITY
Others
KPIs and GEMS Volume
KPIs H1 2021 H1 2022 H1 2022 (TWh) Gas Power TOTAL
GEM - Gas sales (TWh) 44.7 44.7 GEMS 102.4 77.6 180.0
GEM - Electricity sales (TWh) 19.7 22.7 TOTAL 102.4 77.6 180.0
Supply B2B - Gas sales (TWh) 63.8 57.7
Supply B2B - Electricity sales (TWh) 50.7 54.9
H1 2021 (TWh) Gas Power TOTAL
GEMS 108.5 70.4 178.9
TOTAL 108.5 70.4 178.9
1 Excluding Romania B2B, which is reported under GBU Supply

SLIDE 35

POWER GENERATION CAPACITY AND OUTPUT
Breakdown of generation capacity by technology1
As at 30 June 2022
At 100% In % of consolidation2 Net ownership3
(MW) In operation Under construction In operation Under construction In operation Under construction
Hydro 21,207 11 16,153 11 11,984 5.5
o/w RoR4 13,308 11 2,291 11 6,719 5.5
o/w Dam 4,139 3,329 2,255
o/w Pumped storage 3,305 3,305 2,783
o/w Hybrid pumped storage & RoR4 454 228 228
Onshore wind 12,319 1,483 8,292 1,392 6,227 1,143
Offshore wind 1,465 322 322
Solar 4,460 1,244 3,086 1,241 2,616 1,160
Other renewables 483 361 332
Grid scale storage 300 300 153
Natural gas 49,772 870 24,432 870 23,487 870
Nuclear 6,163 6,163 6,163
Coal 2,785 1,952 1,367
Other non renewables 3,676 3,054 2,550
TOTAL 102,330 3,908 63,814 3,814 55,049 3,332
1 Excluding Energy Solutions capacity
2 % of consolidation for full operations affiliates and % holding for joint operations and equity consolidated companies
3 ENGIE ownership
4 RoR = Run of River

SLIDE 36

POWER GENERATION CAPACITY AND OUTPUT
Breakdown of generation capacity by geography1
As at 30 June 2022
At 100% In % of consolidation2 Net ownership3
(MW) In operation Under construction In operation Under construction In operation Under construction
France 7,976 541 6,181 522 4,305 513
Rest of Europe 32,672 1,254 26,175 1,188 25,477 1,188
Latin America 19,653 925 15,612 925 11,156 598
Northern America 4,593 1,070 3,771 1,070 2,270 923
AMEA 37,436 118 12,074 109 11,841 109
TOTAL 102,330 3,908 63,814 3,814 55,049 3,332
1 Excluding Energy Solutions capacity
2 % of consolidation for full operations affiliates and % holding for joint operations and equity consolidated companies
3 ENGIE ownership

SLIDE 37

POWER GENERATION CAPACITY AND OUTPUT
Installed capacity1 evolution vs 30 June 2021
Capacity added by geography (MW)
Commissionning 1,349
France of which 148
Various projects France Solar 92
Various projects France Onshore wind 55
Rest of Europe of which 994
Moray East UK Offshore wind 953
Various projects Belgium Onshore wind 42
Latin America of which 97
Capricornio Chile Solar 74
Nueva Xcala Mexico Solar 23
USA & Canada of which 110
Priddy USA Onshore wind 110
Acquisition 900
Rest of Europe of which 900
Eolia Spain Onshore wind 820
Eolia Spain Solar 78
Poco Loco Roeselare Belgium Onshore wind 3
Disposal & Closing (150)
Tocopilla Chile Coal (124)
Karstadt Bluthen Germany Onshore (26)
Reclassification & Other (64)
Mintaro Australia Natural gas (90)
Torrevaldaliga Italy Natural gas 16
Maxima Flevo Netherlands Natural gas 11
Various projects Saudi Arabia Natural gas (3)
CNAIR Solar toiture France Solar 3
1 Excluding Energy Solutions capacity

SLIDE 38

POWER GENERATION CAPACITY AND OUTPUT
Expected commissioning of capacity 1 under construction
As at 30 June 2022, at 100%
By geographic area (MW) 2022 2023 2024-25 TOTAL By technology (MW) Country 2022 2023 2024-25 TOTAL
France 237 292 11 540 Onshore wind 417 1,065 1,483
Rest of Europe 170 214 870 1,254 Limestone USA 299 299
Latin America 194 730 924 Santo Agostinho Brazil 434 434
o/w Brazil 434 434 Punta Lomitas Peru 260 260
o/w Chile 193 193 Various projects France 121 121
o/w Mexico 1 1 Various projects Italy 59 59
o/w Peru 296 296 Other 118 191 309
Northern America 650 420 1,070 Solar 952 292 1,244
AMEA 118 118 Sun Valley USA 250 250
o/w Asia 118 118 Coya Chile 180 180
TOTAL 1,370 1,657 881 3,908 LSS3 Malaysia 100 100
Various projects France 162 172 334
Various projects USA 101 120 321
1 Excluding Energy Solutions capacity Other 159 159
Battery Storage 300 300
Libra BESS USA 200 200
Sun Valley Storage USA 100 100
Others 881 881
TOTAL 1,370 1,657 881 3,908

SLIDE 39

POWER GENERATION CAPACITY AND OUTPUT
Total capacity1 by geography and by technology
As at 30 June 2022
At 100%
Europe o/w France3 o/w Belgium o/w Italy o/w Netherlands o/w Others Latin America o/w Brazil o/w Chile o/w Mexico o/w Peru Northen America AMEA o/w Middle East and Turkey o/w Asia o/w Africa TOTAL
MW
Hydro2 9,097 3,882 1,102 75 4,038 12,110 11,811 45 255 21,207
Onshore wind 6,298 2,830 527 338 65 2,538 1,607 1,263 199 145 3,275 1,140 470 670 12,319
Offshore wind 1,465 487 978 1,465
Solar 1,479 1,264 5 13 41 156 1,236 255 243 697 41 662 1,083 806 278 4,460
Other renewables 205 205 101 101 177 177 483
Natural gas 14,620 1,403 2,970 3,486 2,943 3,818 1,847 629 301 917 656 32,649 28,520 4,129 49,772
Coal 1,535 317 1,094 125 1,250 1,250 2,785
Nuclear 6,163 1,218 4,945 6,163
Other non renewables 1,321 788 533 1,218 54 1,164 1,137 134 1,003 3,676
TOTAL 40,648 11,385 10,773 3,912 3,049 11,529 19,653 13,746 2,263 1,143 2,500 4,593 37,436 28,520 5,715 3,200 102,330
1 Excluding Energy Solutions assets' output
2 Includes pumped storage
3 French Natural gas, Nuclear and Other non renewables capacities are financially reported under the segment Rest of Europe

SLIDE 40

POWER GENERATION CAPACITY AND OUTPUT
Total capacity1 by geography and by technology
As at 30 June 2022
In % of consolidation
Europe o/w France3 o/w Belgium o/w Italy o/w Netherlands o/w Others Latin America o/w Brazil o/w Chile o/w Mexico o/w Peru Northen America AMEA o/w Middle East and Turkey o/w Asia o/w Africa TOTAL
MW
Hydro2 7,987 3,827 1,102 38 3,020 8,166 7,867 45 255 16,153
Onshore wind 3,455 1,687 329 215 62 1,162 1,582 1,263 199 120 2,730 525 223 302 8,292
Offshore wind 322 43 279 322
Solar 793 667 5 13 22 86 1,173 255 243 634 41 650 470 357 113 3,086
Other renewables 205 205 92 92 64 64 361
Natural gas 12,110 1,403 2,734 2,335 2,943 2,695 1,847 629 301 917 391 10,084 7,750 2,334 24,432
Coal 1,535 317 1,094 125 416 416 1,952
Nuclear 6,163 1,218 4,945 6,163
Other non renewables 1,321 788 533 1,218 54 1,164 515 134 381 3,054
TOTAL 32,356 9,590 9,896 2,600 3,027 7,243 15,612 9,793 2,263 1,055 2,500 3,771 12,074 7,750 3,112 1,212 63,814
1 Excluding Energy Solutions assets' output
2 Includes pumped storage
3 French Natural gas, Nuclear and Other non renewables capacities are financially reported under the segment Rest of Europe

SLIDE 41

POWER GENERATION CAPACITY AND OUTPUT
Total capacity1 by geography and by technology
As at 30 June 2022
Net ownership
Europe o/w France3 o/w Belgium o/w Italy o/w Netherlands o/w Others Latin America o/w Brazil o/w Chile o/w Mexico o/w Peru Northen America AMEA o/w Middle East and Turkey o/w Asia o/w Africa TOTAL
MW
Hydro2 5,926 2,309 1,102 38 2,477 6,059 5,874 27 157 11,984
Onshore wind 3,070 1,368 318 215 62 1,107 1,107 868 119 120 1,546 504 201 302 6,227
Offshore wind 322 43 279 322
Solar 745 628 5 13 22 77 980 175 146 634 25 417 473 357 116 2,616
Other renewables 205 205 63 63 64 64 332
Natural gas 12,029 1,403 2,734 2,254 2,943 2,695 1,245 377 301 566 307 9,906 7,750 2,156 23,487
Coal 951 218 656 77 416 416 1,367
Nuclear 6,163 1,218 4,945 6,163
Other non renewables 1,321 788 533 751 32 719 478 96 381 2,550
TOTAL 29,781 7,714 9,884 2,519 3,027 6,635 11,156 7,198 1,358 1,055 1,545 2,270 11,841 7,750 2,876 1,216 55,049
1 Excluding Energy Solutions assets' output
2 Includes pumped storage
3 French Natural gas, Nuclear and Other non renewables capacities are financially reported under the segment Rest of Europe

SLIDE 42

POWER GENERATION CAPACITY AND OUTPUT
Breakdown of generation output by technology1
H1 2022
(TWh) At 100% In % of consolidation2 Net ownership3
Hydro 35.9 25.4 18.3
o/w RoR4 22.2 13.1 10.7
o/w Dam 5.7 4.4 3.0
o/w Pumped storage 1.5 1.5 1.3
o/w Hybrid pumped storage & RoR 6.5 6.4 3.2
Onshore wind 16.9 11.9 8.6
Offshore wind 1.5 0.4 0.4
Solar 4.2 3.0 2.5
Other renewables 1.4 1.0 0.9
Natural gas 114.9 49.2 47.6
Nuclear 22.2 22.2 22.2
Coal 6.9 3.7 2.9
Other non renewables 3.0 2.4 2.4
TOTAL 207.0 119.2 105.8
1 ExcludingEnergy Solutions capacity
2 % of consolidation for full operations affiliates and % holding for joint operations and equity consolidated companies
3 ENGIE ownership
4 RoR = Run of River

SLIDE 43

POWER GENERATION CAPACITY AND OUTPUT
Breakdown of generation output by geography1
H1 2022
(TWh) At 100% In % of consolidation2 Net ownership3
France 10.7 9.1 5.7
Rest of Europe 54.7 46.8 46.2
Latin America 35.6 25.6 19.1
Northern America 8.5 6.7 4.1
AMEA 97.4 31.0 30.8
TOTAL 207.0 119.2 105.8
1 ExcludingEnergy Solutions capacity
2 % of consolidation for full operations affiliates and % holding for joint operations and equity consolidated companies
3 ENGIE ownership

SLIDE 44

POWER GENERATION CAPACITY AND OUTPUT
Electricity output1 by geography and by technology
For H1 2022
At 100%
Europe o/w France3 o/w Belgium o/w Italy o/w Netherlands o/w Others Latin America o/w Brazil o/w Chile o/w Mexico o/w Peru Northen America AMEA o/w Middle East and Turkey o/w Asia o/w Africa TOTAL
TWh
Hydro2 9.8 7.1 0.7 2.0 26.1 25.3 0.8 35.9
Onshore wind 6.1 2.7 0.5 0.4 0.1 2.4 2.6 2.2 0.2 0.2 6.1 2.0 0.6 1.4 16.9
Offshore wind 1.5 0.8 0.7 1.5
Solar 1.0 0.9 0.1 1.2 0.3 0.2 0.6 0.1 0.8 1.3 0.9 0.3 4.2
Other renewables 0.6 0.6 0.2 0.2 0.7 0.7 1.4
Natural gas 22.1 3.1 4.3 6.4 3.0 5.3 3.3 0.7 0.9 1.7 1.7 87.8 78.8 9.0 114.9
Coal 2.2 0.4 1.8 4.7 4.7 6.9
Nuclear 22.2 3.5 18.8 22.2
Other non renewables 2.0 0.8 1.2 0.1 0.1 0.9 0.3 0.5 3.0
TOTAL 65.4 18.0 26.8 6.8 3.1 10.5 35.6 28.3 3.0 1.8 2.5 8.5 97.4 78.8 11.6 7.0 207.0
1 Excluding Energy Solutions assets' output
2 Includes pumped storage
3 French Natural gas, Nuclear and Other non renewables capacities are financially reported under the segment Rest of Europe

SLIDE 45

POWER GENERATION CAPACITY AND OUTPUT
Electricity output1 by geography and by technology
For H1 2022
In % of consolidation
Europe o/w France3 o/w Belgium o/w Italy o/w Netherlands o/w Others Latin America o/w Brazil o/w Chile o/w Mexico o/w Peru Northen America AMEA o/w Middle East and Turkey o/w Asia o/w Africa TOTAL
TWh
Hydro2 9.2 7.1 0.7 1.4 16.2 15.4 0.8 25.4
Onshore wind 3.3 1.6 0.3 0.3 0.1 1.0 2.6 2.2 0.2 0.2 5.1 0.9 0.3 0.6 11.9
Offshore wind 0.4 0.1 0.3 0.4
Solar 0.5 0.4 0.1 1.1 0.3 0.2 0.6 0.1 0.8 0.6 0.4 0.1 3.0
Other renewables 0.6 0.6 0.2 0.2 0.3 0.3 1.0
Natural gas 17.7 3.1 3.8 5.1 3.0 2.7 3.3 0.7 0.9 1.7 0.9 27.4 21.6 5.8 49.2
Coal 2.2 0.4 1.8 1.6 1.6 3.7
Nuclear 22.2 3.5 18.8 22.2
Other non renewables 2.0 0.8 1.2 0.1 0.1 0.3 0.1 0.2 2.4
TOTAL 55.9 16.5 25.4 5.4 3.1 5.5 25.6 18.4 3.0 1.6 2.5 6.7 31.0 21.6 6.9 2.5 119.2
1 Excluding Energy Solutions assets' output
2 Includes pumped storage
3 French Natural gas, Nuclear and Other non renewables capacities are financially reported under the segment Rest of Europe

SLIDE 46

POWER GENERATION CAPACITY AND OUTPUT
Electricity output1 by geography and by technology
For H1 2022
Net ownership
Europe o/w France3 o/w Belgium o/w Italy o/w Netherlands o/w Others Latin America o/w Brazil o/w Chile o/w Mexico o/w Peru Northen America AMEA o/w Middle East and Turkey o/w Asia o/w Africa TOTAL
TWh
Hydro2 5.8 4.0 0.7 1.1 12.5 12.0 0.5 18.3
Onshore wind 3.0 1.3 0.3 0.3 0.1 1.0 1.8 1.5 0.1 0.2 3.0 0.9 0.3 0.6 8.6
Offshore wind 0.4 0.1 0.3 0.4
Solar 0.5 0.4 0.1 0.9 0.2 0.1 0.6 0.5 0.6 0.4 0.1 2.5
Other renewables 0.6 0.6 0.1 0.1 0.3 0.3 1.0
Natural gas 17.4 3.1 3.8 4.9 3.0 2.6 2.4 0.4 0.9 1.1 0.6 27.2 21.6 5.6 47.6
Coal 1.3 0.3 1.1 1.6 1.6 2.9
Nuclear 22.2 3.5 18.8 22.2
Other non renewables 2.0 0.8 1.2 0.1 0.3 0.1 0.2 2.4
TOTAL 51.9 13.0 25.4 5.1 3.1 5.2 19.1 14.1 1.8 1.6 1.6 4.1 30.8 21.6 6.6 2.5 105.8
1 Excluding Energy Solutions assets' output
2 Includes pumped storage
3 French Natural gas, Nuclear and Other non renewables capacities are financially reported under the segment Rest of Europe

SLIDE 60

FINANCIAL APPENDICES
Foreign exchange Impact of foreign exchange evolution
USD BRL GBP AUD
(€m), Δ 22/21 USD BRL GBP AUD Other1 TOTAL H1 2022 average rate 1.09 5.56 0.84 1.52
Revenue +337 +176 +27 +12 -8 +545 H1 2021 average rate 1.21 6.49 0.87 1.56
EBITDA +65 +88 +4 +1 +7 +165 D Average rate -9.3% -14.4% -3.0% -2.7%
EBIT +42 +76 +3 +0 +6 +129 The average rate applies to the income statement and to the cash flow statement
Total net debt +209 +382 +4 -8 +13 +600 USD BRL GBP AUD
Total equity +611 +26 +150 +5 +197 +989 Closing rate as of 30 June 2022 1.04 5.44 0.86 1.51
Closing rate as of 31 Dec 2021 1.13 6.32 0.84 1.56
D Closing rate -8.3% -13.9% 2.1% -3.3%
The closing rate applies to the balance sheet
1 Mainly MXN, ARS, INR, RON, UAED, PLN, TRY, CLP

SLIDE 61

FINANCIAL APPENDICES
Summary balance sheet
Assets 31 Dec 30 June Liabilities & Equity 31 Dec 30 June
(€bn) 2021 2022 (€bn) 2021 2022
NON-CURRENT ASSETS 117.4 141.5 Equity, Group share 37.0 45.3
CURRENT ASSETS 107.9 129.3 Non-controlling interests 5.0 4.6
TOTAL 225.3 270.8 TOTAL EQUITY 42.0 49.8
Provisions 25.5 23.6
Financial debt 41.0 42.0
Other liabilities 116.8 155.3
TOTAL 225.3 270.8

SLIDE 63

FINANCIAL APPENDICES
Summary income statement
(€m) H1 2021 H1 2022
REVENUE 25,048 43,167
Purchases & operating derivatives (15,313) (27,685)
Personnel costs (3,943) (3,903)
Amortization depreciation and provisions (2,236) (2,174)
Taxes (903) (1,520)
Other operating incomes and expenses 513 632
Share in net income of entities accounted for using the equity method 386 468
CURRENT OPERATING INCOME INCLUDING OPERATING MTM & SHARE IN NET INCOME OF ENTITIES ACCOUNTED FOR USING THE EQUITY METHOD 3,552 8,984
Impairment, restructuring, disposals and others 395 (248)
INCOME FROM OPERATING ACTIVITIES 3,947 8,736
Financial result (608) (2,082)
o/w recurring cost of net debt (392) (508)
o/w cost of lease liabilities (17) (27)
o/w non-recurring items included in financial income/(loss) 94 (1,110)
o/w others (293) (437)
Income tax (941) (1,765)
Non-controlling interests (73) (52)
Net income / (loss) relating to discontinued operations, Group share 20 175
NET INCOME / (LOSS) GROUP SHARE 2,343 5,012
EBITDA 5,183 7,480
EBIT 2,998 5,253

SLIDE 64

FINANCIAL APPENDICES
Summary recurring income statement
(€m) H1 2021 H1 2022
EBITDA 5,183 7,480
o/w recurring share in net income of equity method entities 369 454
Depreciation, amortization and others (2,185) (2,227)
EBIT 2,998 5,253
Recurring financial result (702) (972)
o/w recurring cost of net debt (392) (508)
o/w cost of lease liabilities (17) (27)
o/w others (293) (437)
Income tax (649) (715)
Net recurring income from non-controlling interests relating to continuing operations (309) (319)
Net recurring income relating to continuing operations, Group share 1,338 3,248
Net recurring income relating to discontinued operations, Group share 48 181
NET RECURRING INCOME GROUP SHARE 1,386 3,429

SLIDE 65

FINANCIAL APPENDICES
From EBIT to net income Group share
(€m) H1 2021 H1 2022
EBIT 2,998 5,253
MtM 571 3,744
Non-recurring share in net income of equity method entities (16) (14)
CURRENT OPERATING INCOME INCLUDING OPERATING MtM AND SHARE IN NET INCOME OF ENTITIES ACCOUNTED FOR USING THE EQUITY METHOD 3,552 8,984
Impairment (212) (8)
Restructuring costs (77) (48)
Asset disposals & others 684 (192)
INCOME FROM OPERATING ACTIVITIES 3,947 8,736
Financial result (608) (2,082)
Income tax (941) (1,765)
Non-controlling interests relating to continuing operations (73) (52)
NET INCOME / (LOSS) RELATING TO CONTINUING OPERATIONS, GROUP SHARE 2,324 4,837
Net income / (loss) relating to discontinued operations, Group share 20 175
NET INCOME / (LOSS) GROUP SHARE 2,343 5,012

SLIDE 66

FINANCIAL APPENDICES
From net income Group share to net recurring income Group share
(€m) H1 2021 H1 2022
NET INCOME / (LOSS) GROUP SHARE 2,343 5,012
Net income Group share relating to discontinued operations, Group share (20) (175)
MtM commodities (571) (3,744)
Impairment 212 8
Restructuring costs 77 48
Asset disposals & others (684) 192
Financial result (non-recurring items) (94) 1,110
Non-recurring share in net income of equity method entities 16 14
Income tax on non-recurring items 292 1,050
Non-controlling interests on above items (235) (267)
Net recurring income relating to continuing operations, Group share 1,338 3,248
Net recurring income relating to discontinued operations, Group share 48 181
NET RECURRING INCOME GROUP SHARE 1,386 3,429

SLIDE 67

FINANCIAL APPENDICES
Cash flow statement
(€m) H1 2021 H1 2022
Gross cash flow before financial loss and income tax 4,748 6,944
Income tax paid (excl. income tax paid on disposals) (297) (517)
Change in operating working capital (4) 640
Cash flow from (used in) operating activities relating to continuing operations 4,448 7,067
Cash flow from (used in) operating activities relating to discontinued operations 165 12
CASH FLOW FROM (USED IN) OPERATING ACTIVITIES 4,613 7,079
Net tangible and intangible investments (2,535) (2,247)
Financial investments (1,305) 153
Disposals and other investment flows 416 (791)
Cash flow from (used in) investing activities relating to continuing operations (3,424) (2,885)
Cash flow from (used in) investing activities relating to discontinued operations (78) (3,614)
CASH FLOW FROM (USED IN) INVESTMENT ACTIVITIES (3,503) (6,499)
Dividends paid (1,534) (2,277)
Balance of reimbursement of debt/new debt (318) (1,857)
Net interests paid on financial activities (302) (337)
Capital increase/hybrid issues 7 27
Other cash flows 148 533
Cash flow from (used in) financial activities relating to continuing operations (1,998) (3,911)
Cash flow from (used in) financial activities relating to discontinued operations (102) 3,748
CASH FLOW FROM (USED IN) FINANCIAL ACTIVITIES (2,100) (163)
Impact of currency and other relating to continuing operations 115 493
Impact of currency and other relating to discontinued operations 6 (21)
Impact of currency and other 121 472
TOTAL CASH FLOWS FOR THE PERIOD (869) 889
Reclassification of cash and cash equivalents relating to discontinued activities (418) (125)
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD 12,980 13,890
CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD 11,694 14,655

SLIDE 68

FINANCIAL APPENDICES
Reconciliation between EBITDA and operating cash flow
(€m) H1 2021 H1 2022
EBITDA 5,183 7,480
Restructuring costs cashed out (111) (95)
Provisions (37) (207)
Share in net income of entities accounted for using the equity method (402) (482)
Dividends and others 115 248
CASH GENERATED FROM OPERATIONS BEFORE INCOME TAX AND WORKING CAPITAL REQUIREMENTS 4,748 6,944

SLIDE 69

FINANCIAL APPENDICES
Tax position
(€m) H1 2021 H1 2022
Consolidated income before tax, share in entities accounted for using the equity method and discontinued operations 2,969 6,194
Consolidated income tax (941) (1,765)
Effective tax rate 31.7% 28.5%
Recurring effective tax rate 34.3% 18.8%

SLIDE 72

FINANCIAL APPENDICES
Breakdown of total Capex by activity
H1 2022
(€m) Growth1 Maintenance TOTAL
Renewables 1,339 39 1,378
Networks 505 514 1,019
Energy Solutions 258 71 329
Thermal 27 107 134
Supply 86 44 130
Nuclear 153 153
Others 15 112 127
o/w GEMS 12 53 65
TOTAL 2,231 1,039 3,270
1 Net of DBSO and US tax equity proceeds

SLIDE 75

RATING
Strong 'Investment grade' category rating
As at 29 July 2022
S&P Moody's Fitch
Long-term issuer rating Senior long-term unsecured rating Issuer default rating
A+ A1 A+
A Verbund (stable) 12/13/19 A2 A
A- EnBW (stable) 6/20/17 A3 Vattenfall (stable) 7/6/21 A- ENGIE (stable) 3/24/21
Verbund (stable) 1/13/20
BBB+ ENEL (stable) 12/6/17 Baa1 EDF (negative) 2/21/22 BBB+ EDF (negative) 3/2/22
ENGIE (stable) 4/24/20 EnBW (stable) 5/18/21 ENEL (stable) 2/4/22
Iberdrola (stable) 4/22/16 ENEL (stable) 1/14/21 E.ON (stable) 8/24/18
Orsted (stable) 5/15/14 ENGIE (stable) 11/9/20 Iberdrola (stable) 3/25/14
SSE (stable) 12/20/18 Iberdrola (stable) 3/14/18 Orsted (stable) 2/21/14
Vattenfall (positive) 11/26/21 Orsted (stable) 6/13/17 RWE (stable) 3/25/21
SSE (stable) 11/17/21
BBB EDF (CW negative) 5/24/22 Baa2 E.ON (stable) 5/17/18 BBB EDP (stable) 5/12/21
EDP (stable) 3/16/21 Fortum (UR for downgrade) 7/12/22 Fortum (negative) 6/23/22
E.ON (stable) 3/15/17 Naturgy (stable) 8/8/17 Naturgy (stable) 7/10/19
Fortum (CW negative) 7/5/22 RWE (stable) 4/15/21 SSE (stable) 2/24/20
Naturgy (CW negative) 2/18/22
BBB- Baa3 EDP (positive) 5/11/21 BBB-

SLIDE 76

CREDIT
Economic net debt / EBITDA
Bridge financial to economic net debt
(€bn) FY 2021 H1 2022
EBITDA LTM 10,563 12,860
IFRS NET FINANCIAL DEBT 25,350 26,320
IFRS FND / EBITDA 2.40 2.05
ARO provisions 16,291 16,524
Post-employment provisions (minus deferred tax assets) w/o regulated subsidiaries 2,674 1,863
(-) Nuke dedicated assets (6,014) (6,240)
ECONOMIC NET DEBT 38,300 38,467
ECONOMIC NET DEBT / EBITDA 3.63 2.99

SLIDE 79

CREDIT
Hybrids
Issuer Currency Coupon Issue date First Reset date / First Call date Non-Call Outstanding Annual coupon payment (€m)
period (years) amount (€m)2
GDF SUEZ EUR 3.875% 6/2/14 6/2/24 10 393 15
ENGIE1 EUR 1.375% 1/16/18 4/16/23 5.25 274 4
ENGIE1 EUR 3.250% 1/28/19 2/28/25 6.1 1,000 33
ENGIE EUR 1.625% 7/8/19 7/8/25 6 500 8
ENGIE1 EUR 1.500% 11/30/20 11/30/28 8 850 13
ENGIE1 EUR 1.875% 7/2/21 7/2/31 10 750 14
TOTAL 3,767 86
1 Green Bonds
2 Outsanding hybrids as of 30 June 2022