Veolia Environnement : Résultats semestriels 2022 - Présentation (en anglais)

H1 2022 RESULTS

Estelle Brachlianoff CEO Claude Laruelle CFO

DISCLAIMER

Veolia Environnement is a corporation listed on the Euronext Paris. This document contains "forward-looking statements" within the meaning of the provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements are not guarantees of future performance. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are outside our control, including but not limited to: the risk of suffering reduced profits or losses as a result of intense competition, the risk that changes in energy prices and taxes may reduce Veolia Environnement's profits, the risk that governmental authorities could terminate or modify some of Veolia Environnement's contracts, the risk that acquisitions may not provide the benefits that Veolia Environnement hopes to achieve, the risks related to customary provisions of divesture transactions, the risk that Veolia Environnement's compliance with environmental laws may become more costly in the future, the risk that currency exchange rate fluctuations may negatively affect Veolia Environnement's financial results and the price of its shares, the risk that Veolia Environnement may incur environmental liability in connection with its past, present and future operations, as well as the other risks described in the documents Veolia Environnement has filed with the Autorités des Marchés Financiers (French securities regulator). Veolia Environnement does not undertake, nor does it have, any obligation to provide updates or to revise any forward- looking statements. Investors and security holders may obtain from Veolia Environnement a free copy of documents it filed (www.veolia.com) with the Autorités des Marchés Financiers.

This document contains "non‐GAAP financial measures". These "non‐GAAP financial measures" might be defined differently from similar financial measures made public by other groups and should not replace GAAP financial measures prepared pursuant to IFRS standards.

H1 2022	2

TABLE OF CONTENTS

1 Strong H1 results	2	A strong, resilient and
agile business profile

4	Detailed H1 2022	5 Appendices
	Operational and

Financial performance

• Full confirmation of the Suez merger value creation pillars

H1 2022

3

H1 2022 KEY TAKEAWAYS

1. Strong H1 2022 results : full confirmation of 2022 guidance(1)
2. A strong, resilient and agile business profile
3. Relevance of our business model is confirmed in today's environment
4. Confirmation of the Suez merger value creation pillars

H1 2022		4
	(1) At constant scope and FX - Without extension of the Ukrainian conflict and without significant change in the energy supply conditions in Europe

1- STRONG H1 2022 RESULTS (1/2)

DRIVEN BY PRICING, COMMERCIAL MOMENTUM AND SOLID VOLUMES

• Revenue of €20 196M, up 12.9%(1) vs. combined H1 2021, +6.7% excluding energy prices
• Good performance of Water activities driven by higher tariffs
• Continued good Waste volumes and high recyclate prices
• Strong growth of Energy driven by prices, good performance of cogenerations
• EBITDA of €2 953M, organic growth of +6.1%(1) vs. combined H1 2021, at the top of the guidance range of +4% to +6%
• Organic growth of +7.5% excluding negative weather impact
• Continued cost discipline : €178M of efficiency gains complemented by first synergies of €52M of Suez merger
• Current EBIT of €1 475M, +20.2%(1) vs. combined H1 2021
• Current net income of €528M, +33.1%(4) vs. H1 2021 Veolia reported (excluding Suez dividend)

In €M

H1 2021

H1 2021

Scope(1)

FX

H1 2022(1)

Var. vs H1 2021

Var. vs H1 2021

Veolia

combined(1)

combined

combined(2)

reported (3)

Revenue

13 645

17 774

-286

+408

20 196

+12.9%

+46.2%

EBITDA

2 081

2 792

-61

+52

2 953

+6.1%

+40.4%

Current EBIT

901

1 267

-66

+17

1 475

+20.2%

+63.0%

Current net income(4)

394(4)

-

-

+4

528

-

+33.1%(4)

(1)

H1 2021 and H1 2022 restated from 1-17 January impact (€400M revenue, €49M EBITDA, €11M Current EBIT) - H1 2021 combined includes Australian and EU anti trust assets, but they

are excluded in H1, 2022

H1 2022

(2)

Variation at constant

scope and exchange rates

(3)

At constant exchange rates

5

(4)

Variation at constant forex excluding financial capital gains and excluding Suez dividend of €122M in H1 2021