ANALYSIS BY ACTIVITY

REVENUES BREAKDOWN1

FY 2022
(€m) Rest of
France Europe Latin America Northern America AMEA Others TOTAL
Renewables 3,485 229 2,161 269 49 23 6,216
Networks 5,718 230 1,013 6,961
Energy Solutions 6,372 3,104 47 656 471 902 11,552
Thermal 4,114 2,014 15 986 7,129
Supply 7,776 7,833 15 1,046 141 16,810
Nuclear 35 35
Others2 0 45,163 45,163
o/w GEMS 45,137 45,137
TOTAL 23,351 15,544 5,250 941 2,552 46,228 93,865

FY 2021
(€m) Rest of
France Europe Latin America Northern America AMEA Others TOTAL
Renewables 1,614 111 1,694 182 51 2 3,653
Networks 5,642 89 941 28 6,700
Energy Solutions 5,650 2,587 38 466 380 805 9,926
Thermal 1,551 1,621 12 905 4,089
Supply 5,771 3,844 12 677 92 10,396
Nuclear 56 56
Others2 0 23,046 23,046
o/w GEMS 22,870 22,870
TOTAL 18,677 8,237 4,306 661 2,041 23,945 57,866

1 Unaudited figures throughout Databook

2 Including mainly Corporate, GEMS (GEM + main Supply B2B activities) and GTT
oh
ANALYSIS BY ACTIVITY

EBITDA BREAKDOWN

FY 2022
(€m)
France Rest of Europe Latin America Northern America AMEA Others TOTAL
Renewables 535 370 1,003 313 17 (35) 2,202
Networks 3,396 96 731 (3) (8) 4,212
Energy Solutions 605 240 (2) 34 70 (69) 879
Thermal 1,475 295 47 436 (17) 2,235
Supply (8) 199 6 70 (9) 258
Nuclear 1,510 1,510
Others (16) 1 (1) 0 2,433 2,417
o/w GEMS 2,837 2,837
TOTAL 4,528 3,875 2,033 390 592 2,295 13,713

FY 2021
(€m)
France Rest of Europe Latin America Northern America AMEA Others TOTAL
Renewables 462 172 1,016 86 12 (47) 1,702
Networks 3,518 121 470 0 18 (7) 4,121
Energy Solutions 592 215 (3) 60 41 (119) 786
Thermal 743 424 43 448 (30) 1,628
Supply 356 114 0 48 (20) 498
Nuclear 1,403 1,403
Others 0 2 1 10 0 412 426
o/w GEMS 679 679
TOTAL 4,928 2,770 1,908 199 568 190 10,563
ANALYSIS BY ACTIVITY

EBIT BREAKDOWN

FY 2022
(€m)
France Rest of Europe Latin America Northern America AMEA Others TOTAL
Renewables 375 313 796 172 9 (39) 1,627
Networks 1,675 49 658 (3) (8) 2,371
Energy Solutions 311 148 (5) 23 58 (123) 412
Thermal 1,278 51 44 417 (22) 1,768
Supply (164) 115 6 49 (13) (7)
Nuclear 1,026 1,026
Others (16) 0 (11) 0 1,875 1,848
o/w GEMS 2,618 2,618
TOTAL 2,197 2,913 1,506 226 532 1,671 9,045

FY 2021
(€m)
France Rest of Europe Latin America Northern America AMEA Others TOTAL
Renewables 273 117 846 (6) 8 (47) 1,191
Networks 1,823 77 403 0 18 (7) 2,314
Energy Solutions 307 132 (5) 48 27 (159) 350
Thermal 564 189 41 421 (32) 1,183
Supply 202 28 0 25 (23) 232
Nuclear 959 959
Others 0 2 0 (1) 0 (86) (85)
o/w GEMS 507 507
TOTAL 2,605 1,880 1,433 82 498 (355) 6,145
ANALYSIS BY ACTIVITY

BREAKDOWN OF GROWTH CAPEX1

FY 2022
(€m)
France Rest of Europe Latin America Northern America AMEA Others TOTAL
Renewables 361 1,094 876 648 214 10 3,202
Networks 779 63 245 1,087
Energy Solutions 354 122 19 66 75 80 716
Thermal 181 9 34 (9) 6 220
Supply 62 42 7 63 174
Nuclear 1 1
Others 4 0 0 80 85
o/w GEMS 63 63
TOTAL 1,556 1,507 1,148 748 287 240 5,485

FY 2021
(€m)
France Rest of Europe Latin America Northern America AMEA Others TOTAL
Renewables 244 224 462 767 183 2 1,881
Networks 812 68 440 1,320
Energy Solutions 209 118 15 305 29 40 715
Thermal 8 26 0 (52) 1 (17)
Supply 74 46 11 24 154
Nuclear 0 0
Others 4 (1) 0 218 221
o/w GEMS (31) (31)
TOTAL 1,338 468 942 1,071 171 285 4,275

1 Net of sell down, US tax equity proceeds and including net debt acquired
ANALYSIS BY ACTIVITY

BEAKDOWN OF MAINTENANCE CAPEX

FY 2022
(€m)
France Rest of Europe Latin America Northern America AMEA Others TOTAL
Renewables 104 6 19 1 1 131
Networks 1,156 54 24 1,234
Energy Solutions 94 39 0 0 2 35 170
Thermal 140 87 4 30 261
Supply 60 17 0 6 12 96
Nuclear 228 228
Others 3 250 253
o/w GEMS 86 86
TOTAL 1,413 484 131 9 39 297 2,373

FY 2021
(€m)
France Rest of Europe Latin America Northern America AMEA Others TOTAL
Renewables 80 12 23 2 2 120
Networks 1,130 54 21 1 1,205
Energy Solutions 129 35 0 3 20 188
Thermal 191 88 0 6 284
Supply 74 52 1 16 3 146
Nuclear 201 201
Others 8 0 267 275
o/w GEMS 106 106
TOTAL 1,413 545 133 10 27 290 2,418
ANALYSIS BY ACTIVITY

BREAKDOWN OF ASSOCIATES1

FY 2022
(€m)
France Rest of Europe Latin America Northern America AMEA Others TOTAL
Renewables 20 178 (5) 24 23 0 241
Networks 2 27 294 2 326
Energy Solutions 2 12 42 51 107
Thermal 62 42 288 392
Supply
Nuclear
Others 9 9
o/w GEMS (1) (1)
TOTAL 25 280 289 111 362 9 1,076

FY 2021
(€m)
France Rest of Europe Latin America Northern America AMEA Others TOTAL
Renewables 6 58 (10) 18 21 0 93
Networks 4 31 199 2 236
Energy Solutions 3 2 64 28 96
Thermal 33 46 222 301
Supply
Nuclear (10) (10)
Others 34 34
o/w GEMS 2 2
TOTAL 12 113 189 130 272 34 751

1 Associates = share in net recurring income of entities consolidated under equity method
ANALYSIS BY ACTIVITY
RENEWABLES

KFIs (€m) FY 2021 FY 2022 D 22/21 D org

Revenue 3,653 6,216 +70.1% +58.3%
EBITDA 1,702 2,202 +29.4% +15.3%
EBIT 1,191 1,627 +36.6% +19.1%
Growth Capex 1,881 3,202 +70% -
Maintenance Capex 120 131 +9.2% -
ANALYSIS BY ACTIVITY
Renewables
KPIs

Renewables1 FY 2021 FY 2022 Renewables1 FY 2021 FY 2022

Total installed capacity @100% (GW) o/w 34.2 37.9 Total output @100% (TWh) o/w 3
101.4 113
Hydro 17.9 17.9 Hydro 63.6 66.3
Onshore wind 11.3 13 Onshore wind3 28.8 32.6
Offshore wind 0.5 1.5 Offshore wind 1.6 4.1
Solar 4.2 5.3 Solar 6.3 8.5
Other RES 0.3 0.1 Other RES 1.2 1.5

Total installed capacity net ownership (GW) 18.0 19.8 FY 2021 FY 2022
Capacity under construction @100% 3.6 4.1 DBSO margins (€m) 31 102
New additional capacities @100% 3.1 3.9 Hydro volumes France4 (TWh @100%) 15.2 12.8
CNR – Achieved prices (€/MWh) 56.4 60.0
Availability hydro (%) excl. CNR 2,3
85.3% 90.6% Brazil – GSF (%) 73% 86%
Load factor onshore wind (%) 3
31.9% 31.6% Brazil – PLD (BRL/MWh) 281 59
Load factor solar (%)3 20.3% 19.2%

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/or internal reclassifications
4 Including CNR, SHEM and CN'Air
ANALYSIS BY ACTIVITY
Renewables
Installed capacity and electricity output FY 2022
Installed capacity1 by geography and technology Electricity output by geography and technology
As at 31 December 2022 FY 2022

At 100% Rest of Latin Northern At 100% Rest of Latin Northern

(MW) France Europe America America AMEA TOTAL (TWh) France Europe America America
Hydro 3,882 1,904 12,110 17,896 Hydro 12.8 2.2 51.3
Onshore wind 3,080 3,526 1,723 3,570 1,143 13,042 Onshore wind 5.1 6.9 5.8 10.7
Offshore wind 1,462 1,462 Offshore wind 4.1
Solar 1,391 324 1,432 1,013 1,183 5,343 Solar 1.7 0.3 2.4 1.5
Other RES 2 13 132 147 Other RES 0.5
TOTAL 8,355 7,229 15,397 4,583 2,326 37,889 TOTAL 19.6 13.6 60.0 12.2

In % of consolidation2 In % of consolidation2

Rest of Latin Northern Rest of Latin Northern

(MW) France Europe America America AMEA TOTAL (TWh) France Europe America America
Hydro 3,834 887 8,166 12,887 Hydro 12.8 1.1 35.7
Onshore wind 1,802 1,791 1,698 3,025 651 8,968 Onshore wind 3.0 3.5 5.7 9.0
Offshore wind 322 322 Offshore wind 0.9
Solar 696 235 1,369 1,001 573 3,874 Solar 0.9 0.2 2.3 1.5
Other RES 1 13 123 136 Other RES 0.5
TOTAL 6,333 3,247 11,356 4,026 1,225 26,187 TOTAL 16.6 5.6 44.1 10.5

Net ownership3 Net ownership3

Rest of Latin Northern Rest of Latin Northern

(MW) France Europe America America AMEA TOTAL (TWh) France Europe America America
Hydro 2,309 865 6,059 9,233 Hydro 7.0 1.0 26.1
Onshore wind 1,483 1,725 1,177 1,841 630 6,857 Onshore wind 2.4 3.3 3.9 5.2
Offshore wind 322 322 Offshore wind 0.9 0.8
Solar 656 226 1,098 686 568 3,236 Solar 0.8 0.2 1.8
Other RES 1 13 94 107 Other RES 0.3
TOTAL 4,449 3,151 8,428 2,528 1,198 19,754 TOTAL 10.3 5.4 32.2 6.0

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
AMEA TOTAL
66.3
4.1 32.6
4.1
2.5 8.5
1.0 1.5
7.6 113.0

AMEA TOTAL
49.5
1.8 23.0
0.9
1.2 6.0
0.4 0.9
3.4 80.2

AMEA TOTAL
34.2
1.9 16.6
0.9
1.2 4.8
0.4 0.7
3.4 57.2
ANALYSIS BY ACTIVITY
Renewables
Pipeline

Contract duration and hedge ratio

Years and volume in % of consolidation Offshore wind

As at 31 December 2022 Solar Onshore wind (Ocean Winds)
Residual contract Residual contract Residual contract
Geography duration (years) duration (years) duration (years)
France 12.6 10.1
Rest of Europe 15.5 8.2 19.3
Latin America 17.1 10.3
o/w Brazil 18.0 9.5
Northern America 14.9 12.7
AMEA 20.2 17.1
15.8 11.3 19.3
ANALYSIS BY ACTIVITY
Networks

Normative temperature effects - France

KFIs (€m) FY 2021 FY 2022 D 22/21 D org GRDF Q1 Q2 Q3 Q4 FY
Revenue 6,700 6,961 +3.9% +2.9% Volumes 2021 (3.7) 10.1 0.2 4.1 10.7
EBITDA 4,121 4,212 +2.2% +1.0% (TWh) 2022 (9.6) (0.1) 1.1 (8.6) (17.4)
EBIT 2,314 2,371 +2.5% +0.5% ∆ 22/21 -6.0 -10.2 +0.8 -12.8 -28.1
Growth Capex 1,320 1,087 -18.0% - 2021 (26) 71 1 29 75
EBITDA /
Maintenance Capex 1,205 1,234 +2.4% - EBIT (€m) 2022 (68) (1) 7 (60) (122)
∆ 22/21 -42 -72 +6 -89 -197
ANALYSIS BY ACTIVITY
Networks
KPIs

France FY 2021 FY 2022 International FY 2021 3

Gas distribution Gas distribution
RAB France (€bn) 15.3 2
16.2 International, volume distributed @100% (TWh) 181.4
France, return on RAB (%) 4.10% 4.10% o/w Latin America 82.2
France, volume distributed (TWh) 276.8 256.9 o/w Europe (excl. France) 97.2
Gas smart meters installed (m) 9.2 10.9 Gas transport
Gas transport International, volume transported @100% (TWh) 266.4
RAB France (€bn) 8.6 8.8 o/w Brazil 142.1
France, return on RAB (%) 4.25% 4.25% o/w Latin America (excl. Brazil) 120.3
France, volume transported (TWh) 629.9 707.5 Regasification
Gas storage Subscribed volume (TWh) 14.1
RAB France (€bn) 3.8 2 4.1 o/w Latin America 14.1
France, return on RAB (%) 4.75% 4.75% Power networks
France, capacity sold (TWh) 95.5 99.9 Power networks length built @100% (km)​ 5,595
Germany, capacity sold (TWh) 1
18.3 18.3 Power networks length operating @100% (km)​ 3,297
UK, capacity sold (TWh) 1
4.8 5.1
Regasification Biomethane France FY 2021
RAB France (€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
Subscribed volume (TWh) 230.9 249.5 Production capacity connected to GRDF/GRTgaz (GWh/y) 6,052

Biomethane own production

Net installed capacity @100% (GWh) 338
Production capacity under construction @100% (GWh) 345

1 International affiliates (mainly Storengy in Germany and UK, MEGAL) of French networks companies are reported under France
2 RAB: 01/01/N value
3 Figures restated to include internal reclassifications
FY 2022

157.6
74.2
83.3

296.0
179.8
116.2

16.5
16.5

5,797
4,882

FY 2022

492
8 280

517
365
ANALYSIS BY ACTIVITY
Energy Solutions

KFIs (€m) FY 20211 FY 2022 D 22/21 D org

KPI
Revenue 9,926 11,552 +16.4% +21.1% EBIT margin
EBITDA 786 879 +11.8% +12.2% EBIT margin (excluding EVBox)
EBIT 350 412 +17.7% +16.6%
Growth Capex 715 716 +0.1% -
Maintenance Capex 188 170 -9.6% - Commercial Backlog - French concessions - TO (€bn)
Installed capacity @100% (GW)
Distributed energy infrastructures1

1 Restated data to exclude countries ENGIE exited or stopped developments following geographical rationalization presented in May 2021
 FY 2021 FY 2022

3.5% 3.6%
5.0% 4.6%

Dec. 2021 Dec. 2022

16.8 18.4

24.1 24.9
ANALYSIS BY ACTIVITY
Thermal

KFIs (€m) FY 2021 FY 2022 D 22/21 D org

Revenue 4,089 7,129 +74.3% +62.6%
EBITDA 1,628 2,235 +37.3% +33.7%
EBIT 1,183 1,768 +49.4% +46.6%
Growth Capex (17) 220 - -
Maintenance Capex 284 261 -8.1% -
ANALYSIS BY ACTIVITY
Thermal
KPIs

Thermal FY 2021 FY 2022 Thermal FY 2021 FY 2022

Capacity @100% (GW) 59.9 59.5 Capacity @100% (GW) 59.9 59.5
Installed contracted generation 39.5 39.5 Gas contracted 34.8 34.8
Installed merchant generation 20.5 20.1 Coal contracted 2.2 2.2
Gas merchant 15.2 15.1
Coal merchant 0.7 0.2
Production @100% (TWh) 271.4 266.4 Pumped storage 1
3.3 3.3
Contracted generation 223.5 215.9 Other 3.8 3.9
Merchant generation 47.9 50.5

Production @100% (TWh) 271.4 266.4

FY 2021 FY 2022 Gas contracted 202.7 199.3
Average captured clean spark spreads Europe (€/MWh) 18.9 28.4 Coal contracted 17.9 13.1
Average technical availability (%) 88.2% 89.1% Gas merchant 40.6 43.5
Contracted EBIT (%) 55.4% 36.5% Coal merchant 1.4 0.7
Load factor (%) 49.8% 51.6% Pumped storage1 2.5 2.9
CO2 (mt) 59.5 53.6 Other 6.2 6.9

1 Pumped storage + 143 MW of other hydro capacity managed by Thermal GBU

ANALYSIS BY ACTIVITY
Thermal
Capacity and output by geography and by technology
As at 31 Dec. 2022 / FY2022

At 100%
Installed capacity (MW) Latin
Europe France Belgium Italy Netherlands Others Brazil Chile Mexico
America
Natural gas 14,646 1,341 3,061 3,486 2,940 3,818 1,847 629 301
Pumped storage 1
3,311 1,102 75 2,134
Coal 1,209 317 892
Other 1,525 788 737 1,218 54
TOTAL 19,481 2,129 4,899 3,561 2,940 5,952 4,273 317 1,574 301

Electricity output (TWh) Latin

Europe France Belgium Italy Netherlands Others Brazil Chile Mexico
America
Natural gas 45.8 6.4 9.3 12.5 6.3 11.2 8.7 1.3 2.0
Pumped storage1 2.9 1.3 - 1.5
Coal 4.1 1.0 3.0
Other 5.2 1.5 3.7 - 0.3 - 0.1
TOTAL 53.9 7.9 14.3 12.6 6.3 12.8 13.1 1.0 4.5 2.0

1 Pumped storage + 143 MW of other hydro capacity managed by Thermal GBU

 Northen Middle East
Peru AMEA Asia Africa TOTAL
America and Turkey

917 661 32,737 28,518 4,219 49,890

3,311
1,250 1,250 2,459
1,164 1,137 134 1,003 3,879
2,081 661 35,124 28,518 4,353 2,253 59,539

Northen Middle East

Peru AMEA Asia Africa TOTAL
America and Turkey
5.3 3.4 184.9 167.3 17.6 242.8
2.9
0.1 9.7 9.7 13.8
0.2 1.4 - 0.3 1.0 6.9
5.6 3.4 196.0 167.3 18.0 10.7 266.4
ANALYSIS BY ACTIVITY
Thermal
Capacity and output by geography and by technology
As at 31 Dec. 2022 / FY2022

In % of consolidation
Installed capacity (MW) Latin
Europe France Belgium Italy Netherlands Others Brazil Chile Mexico
America
Natural gas 12,135 1,341 2,825 2,335 2,940 2,694 1,847 629 301
Pumped storage 3,273 1,102 38 2,134
Coal 1,209 317 892
Other 1,525 788 737 1,218 54
TOTAL 16,933 2,129 4,664 2,372 2,940 4,828 4,273 317 1,574 301

Electricity output (TWh) Latin

Europe France Belgium Italy Netherlands Others Brazil Chile Mexico
America
Natural gas 36.5 6.4 8.2 9.9 6.3 5.6 8.7 1.3 2.0
Pumped storage 2.8 1.3 - 1.5
Coal 4.1 1.0 3.0
Other 5.2 1.5 3.7 - 0.3 - 0.1
TOTAL 44.5 7.9 13.3 9.9 6.3 7.1 13.1 1.0 4.5 2.0
 Northen Middle East
Peru AMEA Asia Africa TOTAL
America and Turkey

917 394 10,173 7,750 2,424 24,549

3,273
416 416 1,625
1,164 515 134 381 3,258
2,081 394 11,105 7,750 2,558 797 32,704

Northen Middle East

Peru AMEA Asia Africa TOTAL
America and Turkey
5.3 1.7 56.7 45.5 11.2 103.6
2.8
0.1 3.2 3.2 7.3
0.2 0.5 - 0.1 0.4 6.1
5.6 1.7 60.4 45.6 11.3 3.6 119.8
ANALYSIS BY ACTIVITY
Thermal
Capacity and output by geography and by technology
As at 31 Dec. 2022 / FY2022

Net ownership
Installed capacity (MW)
Europe France Belgium Italy Netherlands Others Latin America Brazil Chile

Natural gas 12,055 1,341 2,825 2,254 2,940 2,694 1,245 377
Pumped storage 2,751 1,102 38 1,612
Coal 753 218 535
Other 1,525 788 737 751 32
TOTAL 16,331 2,129 4,664 2,292 2,940 4,306 2,749 218 944

Electricity output (TWh)

Europe France Belgium Italy Netherlands Others Latin America Brazil Chile

Natural gas 35.9 6.4 8.2 9.4 6.3 5.6 6.1 0.8
Pumped storage 2.5 1.3 - 1.2
Coal 2.5 0.7 1.8
Other 5.2 1.5 3.7 - 0.2 - 0.1
TOTAL 43.7 7.9 13.3 9.4 6.3 6.8 8.9 0.7 2.7
 Northen Middle East
Mexico Peru AMEA Asia Africa TOTAL
America and Turkey

301 566 308 9,971 7,750 2,221 23,578

2,751
416 416 1,169
719 478 96 381 2,754
301 1,285 308 10,865 7,750 2,318 797 30,252

Northen Middle East

Mexico Peru AMEA Asia Africa TOTAL
America and Turkey
2.0 3.3 1.2 56.3 45.5 10.7 99.5
2.5
- 3.2 3.2 5.8
0.1 0.5 - 0.1 0.4 5.9
2.0 3.5 1.2 60.0 45.6 10.8 3.6 113.7
ANALYSIS BY ACTIVITY
Supply

Normative temperature effects - B2C France

KFIs (€m) FY 2021 FY 2022 D 22/21 D org Q1 Q2 Q3 Q4
Revenue 10,396 16,810 +61.7% +61.3% Volumes 2021 (1.2) 3.2 0.1 1.3
EBITDA 498 258 -48.2% -47.3% (TWh) 2022 (2.9) (0.0) 0.3 (2.6)
EBIT 232 (7) - - ∆ 22/21 -1.8 -3.2 +0.2 -3.9
Growth Capex 154 174 +13.0% - 2021 (12) 32 1 13
EBITDA /
Maintenance Capex 146 96 -34.2% - 2022 (29) 0 3 (26)
EBIT (€m)
∆ 22/21 -18 -32 +2 -39
FY
3.4
(5.3)
-8.7
34
(53)
-87
ANALYSIS BY ACTIVITY
Supply
Supply volume

FY 2022 B2C
(TWh) Gas Power TOTAL
France 61.0 23.3 84.3
o/w Green Power 18.8 18.8
Rest of Europe 58.1 14.7 72.9
Latin America 4.8 4.8
AMEA 3.4 2.0 5.4
TOTAL 127.3 40.0 167.4

FY 2021 B2C
(TWh) Gas Power TOTAL
France 79.3 23.3 102.6
o/w Green Power 18.0 18.0
Rest of Europe 68.2 16.1 84.3
Latin America 6.0 6.0
AMEA 3.6 2.1 5.7
TOTAL 157.1 41.5 198.6
ANALYSIS BY ACTIVITY
Supply
B2C total contracts

FY 2022 FY 2021
Gas Power Services TOTAL Gas Power
(k) (k)
France 6,016 5,246 1,536 12,798 France 6,213 5,143
o/w Regulated tariffs 2,344 2,344 o/w Regulated tariffs 2,627
o/w Green Power 4,400 4,400 o/w Green Power 4,087
Rest of Europe 4,558 3,464 992 9,015 Rest of Europe 4,304 3,314
AMEA 292 398 689 AMEA 312 423
TOTAL 10,866 9,108 2,528 22,502 TOTAL 10,829 8,881
Services TOTAL

1,564 12,921
2,627
4,087
1,027 8,646
735
2,592 22,301
ANALYSIS BY ACTIVITY
Nuclear

KFIs (€m) FY 20211 FY 2022 D 22/21 D org

Revenue 56 35 -37.7% -37.7%
EBITDA 1,403 1,510 +7.6% +7.6%
EBIT 959 1,026 +6.9% +6.9%
Growth Capex 0 1 - -
Maintenance Capex 201 228 +13.9% -

1 Restated data
ANALYSIS BY ACTIVITY
Nuclear
KPIs and nuclear assets

FY 2021 FY 2022
KPIs Installed ENGIE
Achieved price (€/MWh) 59.6 97.3 capacity capacity
Total production @conso share (TWh) 47.4 42.1 Nuclear reactors Operator @100% (MW) (MW)
Belgium (TWh) @100% 47.9 41.6 Tihange 2 ENGIE 1,008 905
France (TWh) @100% 7.0 5.8 Doel 1 ENGIE 445 445
Drawing rights Belgium (TWh) @100% (7.5) (5.4) Doel 4 ENGIE 1,038 932
Availability Belgium @100% 91.8% 83.6% Tihange 3 ENGIE 1,038 932
Tihange 1 ENGIE 962 481
Doel 2 ENGIE 445 445
Chooz B (swap) EDF - (100)
Chooz B (drawing rights) 2
EDF - 750
Tricastin (drawing rights)3 EDF - 468
TOTAL 5,259

2 Chooz: 750 MW * average availability of total EDF nuclear fleet in France (excl. Tricastin)
3 Tricastin: 468 MW * local availability of Tricastin units
 End of
operations / contracts

2/1/2023
2/15/2025
7/1/2025
9/1/2025
10/1/2025
12/1/2025
2025
2037
2031
ANALYSIS BY ACTIVITY
Others
Others (GEMS1, E&C, GTT and Others)
Normative temperature effects – French Supply B2B activities 1
KFIs (€m) FY 2021 2
FY 2022 D 22/21 D org Q1 Q2 Q3
Revenue 23,046 45,163 +96.0% +92.6% Volumes 2021 (0.3) 0.9 0.0
EBITDA 426 2,417 - - (TWh) 2022 (0.8) (0.0) 0.1
EBIT (85) 1,848 - - ∆ 22/21 -0.5 -0.9 +0.1
Growth Capex 221 85 -62.0% - 2021 (3) 9 0
Maintenance Capex 275 253 -8.1% - EBITDA / EBIT (€m) 2022 (8) (0.0) 1
∆ 22/21 -5 -9 +1
1 GEMS = GEM + main Supply B2B activities
2 Restated data
 Q4 FY
0.3 0.9
(0.7) (1.5)
-1.1 -2.4
3 9
(7) (15)
-11 -24
ANALYSIS BY ACTIVITY
Others
GEMS Volume

KPIs FY 20212 FY 2022 FY 2022 (TWh) Gas Power TOTAL

GEM – Gas sales (TWh) 77.8 86.7 GEMS 195.1 154.6 349.7
GEM – Electricity sales (TWh) 33.7 47.2
Supply B2B – Gas sales (TWh) 1 118.0 108.4 FY 2021 (TWh) Gas Power TOTAL
Supply B2B – Electricity sales (TWh) 1
107.0 107.4 GEMS 195.8 140.7 336.5

1 Excluding Romania B2B, which is reported under GBU Supply

2 Restated data
POWER GENERATION CAPACITY AND OUTPUT
Breakdown of generation capacity by technology 1
As at 31 Dec. 2022

At 100% In % of consolidation2 Net ownership3

(MW) In operation Under construction In operation Under construction In operation
Hydro 21,207 92 16,161 92 11,984
o/w RoR4 13,308 11 9,337 11 6,765
o/w Dam 4,139 3,337 2,255
o/w Pumped storage 3,305 81 3,305 81 2,783
o/w Hybrid pumped storage & RoR4 454 182 182
Onshore wind 13,042 2,246 8,968 2,202 6,857
Offshore wind 1,462 30 322 12 322
Solar 5,343 1,208 3,874 1,205 3,236
Other renewables 306 297 268
Battery Storage 54 588 52 588 52
Natural gas 49,890 870 24,549 870 23,578
Nuclear 5,259 5,259 5,259
Coal 2,459 1,625 1,169
Other non renewables 3,666 3,044 2,540
TOTAL 102,688 5,033 64,150 4,968 55,265

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
Net ownership3
Under construction
86
5

81

1,520
12
1,202

441
870

4,131
POWER GENERATION CAPACITY AND OUTPUT
Breakdown of generation capacity by geography 1
As at 31 Dec. 2022

At 100% In % of consolidation Net ownership

(MW) In operation Under construction In operation Under construction In operation
France 8,355 424 6,333 390 4,449
Rest of Europe 31,969 1,284 25,440 1,253 24,740
Latin America 19,670 1,561 15,629 1,561 11,177
Northern America 5,244 1,746 4,420 1,746 2,836
AMEA 37,450 18 12,329 18 12,063
TOTAL 102,688 5,033 64,150 4,968 55,265

1 Excluding Energy Solutions capacity

Net ownership
Under construction
381
1,253
1,053
1,426
18
4,131
POWER GENERATION CAPACITY AND OUTPUT
Installed capacity1 evolution vs 31 Dec. 2021

Capacity added by geography (MW)

Commissionning 2,649
Moray East UK Offshore wind 950
Limestone USA Onshore wind 296
Sun Valley USA Solar 250
Coya Chile Solar 180
Priddy USA Onshore wind 110
LSS3 Malaysia Solar 100
Capricornio Chile Solar 88
Solidago USA Solar 50
Wood-Mazara Italy Solar 50
Various projects Other 575

Acquisition 1,203
San Pedro II Chile Onshore wind 65
Caramonte Spain Onshore wind 50
Majogazas Spain Onshore wind 50
Vaille Spain Onshore wind 49
Mondonedo Spain Onshore wind 48
Alentisque Spain Onshore wind 46
Les Rotes Spain Onshore wind 44
Jerez Spain Onshore wind 43
Moral Spain Onshore wind 40
Guijdo I Spain Onshore wind 38
Various projects Other 731

Disposal & Closing (1,542)

Doel 32 Belgium Nuclear (903)
ILO Peru Coal (125)
Tocopilla COA 14 Chile Coal (124)
Tocopilla COA 15 Chile Coal (119)
Rantau Dedap Indonesia Other renewable (91)
Muara Laboh Indonesia Other renewable (86)
CycoFos France Natural gas (62)
Karstadt 1 Germany Onshore wind (26)
Lovenich Germany Onshore wind (5)

Reclassification & Other 83

Herdersbrug Belgium Natural gas 57
Saint-Ghislain Belgium Natural gas 34
Sol De Insurgent Mexico Battery storage 31
Mejillones Chile Coal (57)
Various Projects Other 17

1 Excluding Energy Solutions capacity

2 Including nuclear drawing rights on Doel 3
POWER GENERATION CAPACITY AND OUTPUT
Expected commissioning of capacity 1 under construction
As at 31 Dec. 2022, at 100%

Geography (MW) 2023 2024 2025 TOTAL By technology (MW) Country 2023
France 383 41 424 Onshore wind 1,400
Rest of Europe 278 55 951 1,284 Santo Agostinho Brazil 434
Latin America 715 846 1,561 Punta Lomitas Peru 244
o/w Brazil 434 846 1,280 North Bend USA 200
o/w Chile Century Oak USA 153
o/w Mexico Assurua Brazil
o/w Peru 281 281 Other 368
Northern America 1,746 1,746 Offshore wind
AMEA 18 18 EFGL France
o/w Asia 18 18 Solar 1,153
TOTAL 3,140 96 1,797 5,033 Five Wells USA 320
Hopkins USA 250
River Ferry USA 150
1 Excluding Energy Solutions capacity Salt City USA 50
2 Others: hydro and natural gas Meridion Benilde Spain
Meridion Itamar Spain
Other 383
Battery 588
Five Wells USA 250
Libra USA 200
Sun Valley USA 100
Nera Montoro Italy 25
Salemi Italy 13
Others2
TOTAL 3,140
2024 2025 TOTAL
846 2,246
434
244
200
153
846 846
368
30 30
30 30
55 1,208
320
250
150
50
46 46
9 9
383
588
250
200
100
25
13
11 951 962
96 1,797 5,033
POWER GENERATION CAPACITY AND OUTPUT
Total capacity1 by geography and by technology
As at 31 Dec. 2022
At 100%

Latin
Europe France Belgium Italy Netherlands Others Brazil Chile
(MW) America

Hydro2 9,097 3,882 1,102 75 4,038 12,110 11,811 45

Onshore wind 6,606 3,080 546 338 65 2,577 1,723 1,263 300
Offshore wind 1,462 487 975
Solar 1,715 1,391 96 41 187 1,432 255 438
Other renewables 205 205 101 101
Battery 23 2 8 13 31
Natural gas 14,646 1,341 3,061 3,486 2,940 3,818 1,847 629
Nuclear 5,259 1,218 4,041
Coal 1,209 317 892
Other non renewables 1,312 788 524 1,218 54
TOTAL 40,324 11,702 9,973 3,995 3,046 11,608 19,670 13,746 2,357

1 Excluding Energy Solutions assets’ output

2 Includes pumped storage
 Northen Middle East
Mexico Peru AMEA Asia Africa TOTAL
America and Turkey

255 21,207
145 16 3,570 1,143 470 673 13,042
1,462
698 41 1,013 1,183 906 278 5,343
306
31 54
301 917 661 32,737 28,518 4,219 49,890
5,259
1,250 1,250 2,459
1,164 1,137 134 1,003 3,666
1,175 2,391 5,244 37,450 28,518 5,728 3,204 102,688
POWER GENERATION CAPACITY AND OUTPUT
Total capacity by geography and by technology
As at 31 Dec. 2022
In % of consolidation

Latin
Europe France Belgium Italy Netherlands Others Brazil Chile
(MW) America

Hydro2 7,994 3,834 1,102 38 3,021 8,166 7,867 45

Onshore wind 3,593 1,802 340 215 62 1,175 1,698 1,263 300
Offshore wind 322 43 279
Solar 931 696 96 22 117 1,369 255 438
Other renewables 205 205 92 92
Battery 21 1 8 13 31
Natural gas 12,135 1,341 2,825 2,335 2,940 2,694 1,847 629
Nuclear 5,259 1,218 4,041
Coal 1,209 317 892
Other non renewables 1,312 788 524 1,218 54
TOTAL 31,773 9,680 9,088 2,683 3,024 7,298 15,629 9,793 2,357
 Northen Middle East
Mexico Peru AMEA Asia Africa TOTAL
America and Turkey

255 16,161
120 16 3,025 651 348 304 8,968
322
635 41 1,001 573 457 116 3,874
297
31 52
301 917 394 10,173 7,750 2,424 24,549
5,259
416 416 1,625
1,164 515 134 381 3,044
1,087 2,391 4,420 12,329 7,750 3,363 1,217 64,150
POWER GENERATION CAPACITY AND OUTPUT
Total capacity by geography and by technology
As at 31 Dec. 2022
Net ownership

Latin
Europe France Belgium Italy Netherlands Others Brazil Chile
(MW) America
Hydro 5,926 2,309 1,102 38 2,477 6,059 5,874 27
Onshore wind 3,208 1,483 328 215 62 1,121 1,177 868 180
Offshore wind 322 43 279
Solar 883 656 96 22 108 1,098 175 263
Other renewables 205 205 63 63
Battery Storage 21 1 8 13 31
Natural gas 12,055 1,341 2,825 2,254 2,940 2,694 1,245 377
Nuclear 5,259 1,218 4,041
Coal 753 218 535
Other non renewables 1,312 788 524 751 32
TOTAL 29,190 7,796 9,075 2,602 3,024 6,692 11,177 7,198 1,414
 Northen Middle East
Mexico Peru AMEA Asia Africa TOTAL
America and Turkey

157 11,984
120 10 1,841 630 326 304 6,857
322
635 25 686 568 452 116 3,236
268
31 52
301 566 308 9,971 7,750 2,221 23,578
5,259
416 416 1,169
719 478 96 381 2,540
1,087 1,477 2,836 12,063 7,750 3,097 1,217 55,265
POWER GENERATION CAPACITY AND OUTPUT
Breakdown of generation output by technology
FY 2022

(TWh) At 100% In % of consolidation Net ownership

Hydro 69.2 52.4 36.7
o/w RoR 42.1 29.0 21.5
o/w Dam 16.1 12.8 8.7
o/w Pumped storage 2.9 2.9 2.5
o/w Hybrid pumped storage & RoR 8.2 7.8 4.0
Onshore wind 32.6 23.0 16.6
Offshore wind 4.1 0.9 0.9
Solar 8.5 6.0 4.8
Other renewables 2.7 2.0 1.8
Natural gas 242.8 103.6 99.5
Nuclear 42.1 42.1 42.1
Coal 13.8 7.3 5.8
Other non renewables 5.8 4.9 4.8
TOTAL 421.5 242.1 213.0
POWER GENERATION CAPACITY AND OUTPUT
Breakdown of generation output by geography
FY 2022

(TWh) At 100% In % of consolidation Net ownership

France 19.6 16.6 10.3
Rest of Europe 109.5 92.2 91.1
Latin America 73.1 57.2 41.1
Northern America 15.6 12.2 7.2
AMEA 203.6 63.9 63.4
TOTAL 421.5 242.1 213.0
POWER GENERATION CAPACITY AND OUTPUT
Electricity output1 by geography and by technology
For FY 2022
At 100%
Latin
(TWh) Europe France Belgium Italy Netherlands Others Brazil Chile
America
Hydro2 17.9 12.8 1.3 - 3.7 51.3 50.0 0.1
Onshore wind 12.0 5.1 1.1 0.7 0.1 5.1 5.8 5.0 0.4
Offshore wind 4.1 1.5 2.6
Solar 2.0 1.7 - 0.1 0.2 2.4 0.5 0.6
Other renewables 1.2 1.2 0.5 0.5
Natural gas 45.8 6.4 9.3 12.5 6.3 11.2 8.7 1.3
Coal 4.1 1.0 3.0
Nuclear 42.1 6.3 35.7
Other non renewables 4.1 1.5 2.5 - 0.3 - 0.1
TOTAL 129.1 33.8 52.6 13.3 6.5 22.9 73.1 57.1 5.6

1 Excluding Energy Solutions assets’ output

2 Includes pumped storage
 Northen Middle East
Mexico Peru AMEA Asia Africa TOTAL
America and Turkey

1.2 69.2
0.3 10.7 4.1 1.3 2.8 32.6
4.1
1.2 0.1 1.5 2.5 1.8 0.7 8.5
1.0 1.0 2.6
2.0 5.3 3.4 184.9 167.3 17.6 242.8
0.1 9.7 9.7 13.8
42.1
0.2 1.4 - 0.3 1.0 5.8
3.5 7.0 15.6 203.6 167.3 22.1 14.2 421.5
POWER GENERATION CAPACITY AND OUTPUT
Electricity output by geography and by technology
For FY 2022
In % of consolidation
Latin
(TWh) Europe France Belgium Italy Netherlands Others Brazil Chile
America
Hydro 16.7 12.8 1.3 - 2.6 35.7 34.3 0.1
Onshore wind 6.5 3.0 0.6 0.4 0.1 2.3 5.7 5.0 0.4
Offshore wind 0.9 0.1 0.7
Solar 1.1 0.9 - - 0.1 2.3 0.5 0.6
Other renewables 1.2 1.2 0.5 0.5
Natural gas 36.5 6.4 8.2 9.9 6.3 5.6 8.7 1.3
Coal 4.1 1.0 3.0
Nuclear 42.1 6.3 35.7
Other non renewables 4.1 1.5 2.5 - 0.3 - 0.1
TOTAL 108.9 30.8 49.8 10.4 6.5 11.4 57.2 41.4 5.6
 Northen Middle East
Mexico Peru AMEA Asia Africa TOTAL
America and Turkey
1.2 52.4
0.2 9.0 1.9 0.6 1.3 23.0
0.9
1.0 0.1 1.5 1.2 0.9 0.3 6.0
0.4 0.4 2.0
2.0 5.3 1.7 56.7 45.5 11.2 103.6
0.1 3.2 3.2 7.3
42.1
0.2 0.5 - 0.1 0.4 4.9
3.2 7.0 12.2 63.9 45.6 13.1 5.2 242.1
POWER GENERATION CAPACITY AND OUTPUT
Electricity output by geography and by technology
For FY 2022
Net ownership
Latin
(TWh) Europe France Belgium Italy Netherlands Others Brazil Chile
America
Hydro 10.5 7.0 1.3 - 2.2 26.1 25.3 0.1
Onshore wind 5.7 2.4 0.6 0.4 0.1 2.2 3.9 3.5 0.2
Offshore wind 0.9 0.1 0.7
Solar 1.0 0.8 - - 0.1 1.8 0.4 0.4
Other renewables 1.2 1.2 0.3 0.3
Natural gas 35.9 6.4 8.2 9.4 6.3 5.6 6.1 0.8
Coal 2.5 0.7 1.8
Nuclear 42.1 6.3 35.7
Other non renewables 4.1 1.5 2.5 - 0.2 - 0.1
TOTAL 101.4 24.5 49.8 9.9 6.5 10.8 41.1 30.2 3.4
 Northen Middle East
Mexico Peru AMEA Asia Africa TOTAL
America and Turkey
0.8 36.7
0.2 5.2 1.8 0.5 1.3 16.6
0.9
1.0 0.1 0.8 1.2 0.9 0.3 4.8
0.4 0.4 1.8
2.0 3.3 1.2 56.3 45.5 10.7 99.5
- 3.2 3.2 5.8
42.1
0.1 0.5 - 0.1 0.4 4.8
3.2 4.3 7.2 63.4 45.5 12.6 5.2 213.0
FINANCIAL APPENDICES
Change in number of shares

As at 31 Dec 2021 As at 31 Dec 2022

Existing shares 2,435,285,011 2,435,285,011

FY 2021 FY 2022

Average number of shares1 2,419 million 2,420 million

Recurring EPS2 € 1.21 € 2.16
Recurring EPS2 - post hybrids coupons3 € 1.16 € 2.13

1 Undiluted, excluding treasury stock

2 Considering Net Recurring Income relating to continuing operations, Group share
3 Including hybrids refinancing costs 2021 & 2022
FINANCIAL APPENDICES
Foreign exchange Impact of foreign exchange evolution
USD BRL GBP AUD
(€m), Δ 22/21 USD BRL GBP AUD Other1 TOTAL FY 2022 average rate 1.05 5.44 0.85 1.52
Revenue +984 +368 +18 +36 +56 +1,462 FY 2021 average rate 1.18 6.38 0.86 1.57
EBITDA +181 +205 +3 +4 +27 +418 D Average rate -11.0% -14.7% -0.8% -3.7%
EBIT +120 +178 +2 +2 +23 +325 The average rate applies to the income statement and to the cash flow statement
NRIgs +71 +56 +0 -3 +19 +142
Total net debt +275 +307 -18 +8 -1 +570 USD BRL GBP AUD
Total equity +517 +323 -162 +8 +42 +728 Closing rate as at31 Dec. 2022 1.07 5.56 0.89 1.57
Closing rate as at 31 Dec. 2021 1.13 6.32 0.84 1.56
1 Mainly MXN, ARS, INR, RON, UAED, PLN, TRY, CLP D Closing rate -5.8% -12.0% 5.6% 0.5%
The closing rate applies to the balance sheet
FINANCIAL APPENDICES
Summary balance sheet

Assets 31 Dec 31 Dec Liabilities & Equity 31 Dec 31 Dec

(€bn) 2021 2022 (€bn) 2021 2022
NON-CURRENT ASSETS 117.4 131.5 Equity, Group share 37.0 34.3
CURRENT ASSETS 107.9 104.0 Non-controlling interests 5.0 5.0
o/w cah and equivalents 13.9 15.6 TOTAL EQUITY 42.0 39.3
TOTAL 225.3 235.5 Provisions 25.5 27.0
Financial debt 41.0 40.6
Other liabilities 116.8 128.6
TOTAL 225.3 235.5
FINANCIAL APPENDICES
Summary income statement

(€m) FY 2021 FY 2022

REVENUE 57,866 93,865
Purchases & operating derivatives (38,861) (74,535)
Personnel costs (7,692) (8,078)
Amortization depreciation and provisions (4,840) (5,187)
Taxes (1,479) (3,380)
Other operating incomes and expenses 1,122 1,624
Share in net income of entities accounted for using the equity method 800 1,059
CURRENT OPERATING INCOME INCLUDING OPERATING MTM & SHARE IN NET INCOME
6,916 5,367
OF ENTITIES ACCOUNTED FOR USING THE EQUITY METHOD
Impairment, restructuring, disposals and others (194) (4,241)
INCOME FROM OPERATING ACTIVITIES 6,722 1,127
Financial result (1,350) (3,003)
o/w recurring cost of net debt (851) (900)
o/w cost of lease liabilities (35) (73)
o/w non-recurring items included in financial income/(loss) 144 (1,184)
o/w others (608) (845)
Income tax (1,695) 83
Non-controlling interests (continuing operations) (96) (172)
Net income / (loss) relating to discontinued operations, Group share 79 2,182
NET INCOME / (LOSS) GROUP SHARE 3,661 216
EBITDA 10,563 13,713
EBIT 6,145 9,045
FINANCIAL APPENDICES
Summary recurring income statement

(€m) FY 2021 FY 2022

EBITDA 10,563 13,713
o/w recurring share in net income of equity method entities 751 1,076
Depreciation, amortization and others (4,418) (4,668)
EBIT 6,145 9,045
Recurring financial result (1,494) (1,819)
o/w recurring cost of net debt (851) (900)
o/w cost of lease liabilities (35) (73)
o/w others (608) (845)
Income tax (1,142) (1,390)
Net recurring income from non-controlling interests relating to continuing operations (581) (614)
Net recurring income relating to continuing operations, Group share 2,927 5,223
Net recurring income relating to discontinued operations, Group share 231 287
NET RECURRING INCOME GROUP SHARE 3,158 5,510
FINANCIAL APPENDICES
From EBIT to net income Group share

(€m) FY 2021 FY 2022

EBIT 6,145 9,045
MtM 721 (3,661)
Non-recurring share in net income of equity method entities 50 (17)
CURRENT OPERATING INCOME INCLUDING OPERATING MtM AND SHARE IN
6,916 5,367
NET INCOME OF ENTITIES ACCOUNTED FOR USING THE EQUITY METHOD
Impairment (1,028) (2,774)
Restructuring costs (204) (230)
Asset disposals & others (1,039) (1,237)
INCOME FROM OPERATING ACTIVITIES 6,722 1,127
Financial result (1,350) (3,003)
Income tax (1,695) 83
Non-controlling interests relating to continuing operations (96) -172
NET INCOME / (LOSS) RELATING TO CONTINUING OPERATIONS, GROUP SHARE 3,582 (1,965)
Net income / (loss) relating to discontinued operations, Group share 79 2,182
NET INCOME / (LOSS) GROUP SHARE 3,661 216
FINANCIAL APPENDICES
From net income Group share to net recurring income Group share

(€m) FY 2021 FY 2022

NET INCOME / (LOSS) GROUP SHARE 3,661 216
Net income Group share relating to discontinued operations, Group share (79) (2,182)
MtM commodities (721) 3,661
Impairment 1,028 2,774
Restructuring costs 204 230
Asset disposals & others (1,039) 1,237
Financial result (non-recurring items) (144) 1,184
Non-recurring share in net income of equity method entities (50) 17
Income tax on non-recurring items 552 (1,474)
Non-controlling interests on above items (486) (442)
Net recurring income relating to continuing operations, Group share 2,927 5,222
Net recurring income relating to discontinued operations, Group share 231 287
NET RECURRING INCOME GROUP SHARE 3,158 5,510
FINANCIAL APPENDICES
ROACE

(€m) FY 2022
AVERAGE CAPITAL EMPLOYED 48,900
Scope effects 73
AVERAGE CAPITAL EMPLOYED - adjusted 1
48,973
EBIT EXCLUDING SHARE IN NET INCOME OF ENTITIES ACCOUNTED FOR
7,970
UNSING THE EQUITY METHOD
Other income and financial expenses2 (962)
Normative income tax 3
(1,889)
Share in net recurring income of entities accounted for using the equity method 1,076
NOPAT 6,194
ROCE= NOPAT / CE (average) 12.6%

1 Adjusted to make the composition of capital employed consistent with that of NOPAT for main scope changes
2 Mainly unwinding effect of long-term provisions and interest cost of employee benefits
3 EBIT excluding share in net income of entities accounted for using the equity method plus other income and financial expenses, multiplied by the statutory tax rates in force in the underlying jurisdictions
FINANCIAL APPENDICES
Cash flow statement

(€m) FY 2021 FY 2022

Gross cash flow before financial loss and income tax 9,806 12,415
Income tax paid (excl. income tax paid on disposals) (603) (1,504)
Change in operating working capital (2,377) (2,424)
Cash flow from (used in) operating activities relating to continuing operations 6,826 8,488
Cash flow from (used in) operating activities relating to discontinued operations 486 98
CASH FLOW FROM (USED IN) OPERATING ACTIVITIES 7,312 8,586
Net tangible and intangible investments (5,902) (6,207)
Financial investments (2,310) (521)
Disposals and other investment flows 173 5,560
Cash flow from (used in) investing activities relating to continuing operations (8,039) (1,167)
Cash flow from (used in) investing activities relating to discontinued operations (3,003) (3,123)
CASH FLOW FROM (USED IN) INVESTMENT ACTIVITIES (11,042) (4,290)
Dividends paid (1,859) (2,665)
Balance of reimbursement of debt/new debt 3,299 (2,303)
Net interests paid on financial activities (667) (628)
Capital increase/hybrid issues 226 (259)
Other cash flows 1,330 (143)
Cash flow from (used in) financial activities relating to continuing operations 2,329 (5,997)
Cash flow from (used in) financial activities relating to discontinued operations 2,519 3,019
CASH FLOW FROM (USED IN) FINANCIAL ACTIVITIES 4,848 (2,979)
Impact of currency and other relating to continuing operations 223 356
Impact of currency and other relating to discontinued operations 10 7
Impact of currency and other 233 363
TOTAL CASH FLOWS FOR THE PERIOD 1,350 1,680
Reclassification of cash and cash equivalents relating to discontinued activities (440) 0
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD 12,980 13,890
CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD 13,890 15,570
FINANCIAL APPENDICES
Reconciliation between EBITDA and operating cash flow

(€m) FY 2021 FY 2022

EBITDA 10,563 13,713
Restructuring costs cashed out (243) (203)
Provisions 160 (265)
Share in net income of entities accounted for using the equity method (751) (1,076)
Dividends and others 77 246
CASH GENERATED FROM OPERATIONS BEFORE INCOME TAX AND 9,806 12,415
WORKING CAPITAL REQUIREMENTS
FINANCIAL APPENDICES
Tax position

(€m) FY 2021 FY 2022

Consolidated income before tax, share in entities accounted for using the equity
4,588 (2,400)
method and discontinued operations
Consolidated income tax (1,695) 83
Effective tax rate 36.9% 3.5%
Recurring effective tax rate 29.3% 22.6%
FINANCIAL APPENDICES
Breakdown of total Capex by activity

FY 2022
(€m) Growth Maintenance TOTAL
Renewables 3,202 131 3,333
Networks 1,087 1,234 2,321
Energy Solutions 716 170 886
Thermal 220 261 481
Supply 174 96 270
Nuclear 1 228 229
Others 85 253 338
o/w GEMS 63 86 149
TOTAL 5,485 2,373 7,858
RATING
Strong 'Investment grade' category rating
As at 21 February 2023

S&P Moody’s Fitch

Long-term issuer rating Senior long-term unsecured rating Issuer default rating

A+ A1 A+

A Verbund (positive) 7/14/2022 A2 A

A- EnBW (negative) 9/15/2022 A3 Vattenfall (stable) 7/6/2021 A- ENGIE (stable) 3/24/2021

Verbund (stable) 1/13/2020

BBB+ ENEL (negative) 12/7/2022 Baa1 EDF (negative) 2/21/2022 BBB+ EDF (stable) 9/6/2022

ENGIE (stable) 4/24/2020 EnBW (stable) 5/18/2021 ENEL (stable) 2/4/2022

Iberdrola (stable) 4/22/2016 ENEL (negative) 8/9/2022 E.ON (stable) 8/24/2018

Orsted (stable) 5/15/2014 ENGIE (stable) 11/9/2020 Iberdrola (stable) 3/25/2014

SSE (positive) 12/9/2022 Iberdrola (stable) 3/14/2018 Orsted (stable) 2/21/2014

Vattenfall (positive) 11/26/2021 Orsted (stable) 6/13/2017 RWE (stable) 3/25/2021

SSE (stable) 11/17/2021

BBB EDF (stable) 12/14/2022 Baa2 E.ON (stable) 5/17/2018 BBB EDP (stable) 5/12/2021

EDP (stable) 3/16/2021 Fortum (negative) 9/27/2022 Fortum (negative) 6/23/2022

E.ON (stable) 3/15/2017 Naturgy (stable) 8/8/2017 Naturgy (stable) 1/28/2020

Fortum (negative) 8/3/2022 RWE (stable) 4/15/2021 SSE (stable) 2/24/2020

Naturgy (negative) 2/13/2022

BBB- Baa3 EDP (positive) 5/11/2021 BBB-

CREDIT
Economic net debt / EBITDA
Bridge financial to economic net debt

(€bn) FY 2021 FY 2022

EBITDA LTM 10,563 13,713
IFRS NET FINANCIAL DEBT 25,350 24,054
IFRS FND / EBITDA 2.40 1.75
ARO provisions 16,291 20,347

Post-employment provisions (minus deferred tax assets) w/o regulated subsidiaries 2,674 1,505

(-) Nuke dedicated assets (6,014) (7,098)

ECONOMIC NET DEBT 38,300 38,808
ECONOMIC NET DEBT / EBITDA 3.63 2.83
CREDIT
Hybrids

First Reset date / First Non-Call period Outstanding amount Annual coupon payment
Issuer Currency Coupon Issue date
Call date (years) (€m)2 (€m)
ENGIE1 EUR 3.25% 1/28/2019 2/28/2025 6.1 1,000 33
ENGIE EUR 1.63% 7/8/2019 7/8/2025 6 500 8
ENGIE 1
EUR 1.50% 11/30/2020 11/30/2028 8 850 13
ENGIE 1
EUR 1.88% 7/2/2021 7/2/2031 10 705 13
TOTAL 3,393 80

1 Green Bonds
2 Outsanding hybrids as at 31 December 2022