Veolia Environnement : Résultats trimestriels au 30 septembre 2022 - Présentation (en anglais)

Q3 2022 RESULTS

Estelle Brachlianoff CEO Claude Laruelle CFO

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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.

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AGENDA

• Very strong Q3 and 9M 2022 results

• Detailed 9M operational and financial performance
  3 Appendices

Q3 2022	3

KEY Q3 2022 HIGHLIGHTS

Acceleration of revenue and profits growth in Q3 driven by pricing and synergies

Execution of the merger with Suez ahead of plan

Confirmation of the resilience and adaptability of our business models

• Record price and indexation increases
• Quick adaptation to the new energy context

A powerful growth platform

Fully confirmed 2022 guidance

Q3 2022

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KEY Q3 2022 HIGHLIGHTS

ACCELERATION OF REVENUE AND PROFIT GROWTH IN Q3

In €M	Q3 2021		Scope	FX		Q3 2022		Var. vs Q3 2021
	combined					combined		combined(1)
Revenue	9 178	-187	+273	10 517		+13.7%
EBITDA	1 519	-30	+40	1 580		+3.4%/
								+9.4%(2)
Current EBIT	644	-36	+21	742		+17.6%

Q3 Comments

Acceleration of revenue and profit growth in Q3: +13.7% and +7.7% excluding energy prices

• Q3 revenue up 13.7%(1), above H1, driven by price increases, higher indexation and good volumes in all businesses
• Q3 EBITDA up 9.4%(2) excluding Q3 2021 one off , thanks to accelerated synergy delivery and continued efficiency gains
• • Positive one off of €83M in Q3 2021 EBITDA in French waste, without any impact on EBIT
  • €46M of synergies realized in Q3, leading to a total of €98M at Sept. 30th, ahead of schedule
• Q3 Current EBIT strongly up +17.6%(1) , driven by solid EBITDA growth

Net Free Cash Flow generation of €337M in Q3

• Excluding Forex, net financial debt down €351M in Q3 vs. June 2022

Q3 2022		1)	At constant scope and exchange rates
	5	2)	At constant scope and exchange rates and excluding Q3 2021 one off of €83M