Q1 2020

Financial Results

& Covid-19 Update

30th April 2020

Today's agenda

Q1 2020 performance: good start to the year offset by Covid-19 impacts in March

Explain Covid-19 impacts on Q1 and in March / April

SUEZ anticipates, adapts and prepares for exit and rebound

2 | Q1 2020 Results | 30th April 2020

Mobilised to adapt

to Covid-19

Bertrand Camus

Chief Executive Officer

3 I Q1 2020 Results | 30th April 2020

Mobilised to adapt to Covid-19 crisis

Ensure continuity of our essential services while guaranteeing employee safety

Anticipate and prepare for the redeployment of business activities

around the world

Mobilize to serve our clients

Large, small, private individuals and industries across the world

Engage measures to mitigate potential impacts on operational

performance

4 | Q1 2020 Results | 30th April 2020

All teams highly engaged

Guarantee employee safety

Equip our teams with the adapted

PPE

Adapted operational procedures

5 | Q1 2020 Results | 30th April 2020

Covid-19 infected & suspected cases

Weekly employee follow up

In % of employees, per region

Group

Europe

North America

1,76

1,73

2,13

2,06

1,97

0,99

0,98

1,44

0,58

0,79

0,76

0,70

0,59

0,49

0,70

0,82

0,68

0,52

0,30

0,22

0,26

Mar 16 Mar 23 Mar 30

Apr 6

Apr 13 Apr 20

Apr 27

Mar 16 Mar 23 Mar 30 Apr 6 Apr 13 Apr 20 Apr 27

Mar 16 Mar 23 Mar 30 Apr 6 Apr 13 Apr 20 Apr 27

AMECA

Asia - Pacific

South America

0,12

0,19

0,34

0,29

0,22

0,19

0,28

0,02 0,01

0,04

-

-

-

0,05

- 0,01 0,01

0,02

0,02

-

-

Mar 16 Mar 23 Mar 30 Apr 6 Apr 13 Apr 20 Apr 27

Mar 16 Mar 23

Mar 30

Apr 6 Apr 13 Apr 20

Apr 27

Mar 16 Mar 23 Mar 30

Apr 6

Apr 13 Apr 20

Apr 27

6 | Q1 2020 Results | 30th April 2020

AMECA = Africa, Middle East, Central Asia

Business continuity plan activated

Success in adapting to Covid-19

Europe 25%

62%

24%

North

America

59%

On site /

Teleworking

Office

54% 37%

16%

9%10%

3%

14%

16%

87%

Inactive

16%

Asia -

Latin

39%

68%

42%

AMECA

Pacific

Agile and committed

America

19%

workforce

Figures as of April 28th

Size of the pie chart illustrates the proportion of workforce in the geographical area

7 | Q1 2020 Results | 30th April 2020

AMECA = Africa, Middle East, Central Asia

Committed to support our customers

Reinforced closeness with clients - large, small, private individuals and industries

Ensure full reliability to accompany our clients

Roll out seamless business continuity

Be ready for the post lockdown period

8 | Q1 2020 Results | 30th April 2020

Support critical operations during the health crisis

Working differently with our clients

Continuity

Adaptation

Food&Beverage

Global Key Account (PL)

Conventional waste collection & recovery maintained to secure our F&B customer continuity of operation

Chemicals

ARKEMA (FR)

Hazardous Waste continuity allowing customer to switch production to hydroalcoholic gels

Food&Beverage

COCAMAR (BRA) WTS Insight solution

Continuity of service through remote control for water treatment of F&B factory producing food in crisis time

Smart City solutions

On'Dijon (FR)

The 100% connected operation of "OnDijon" has helped to better manage the coronavirus crisis. The cockpit helps make decisions faster

Health-care waste management

Île de France / Grand Est (FR)

+40% surge in volumes of medical waste.

Specific expertise, with 7 EfW equiped to receive and treat infectious waste.

Sealed bins, automatic disinfection.

VALO'MARNE and Sausheim facilities are run with extended operating hours to adjust to the rise in volume of waste

9 | Q1 2020 Results | 30th April 2020

Prepare business activity for lockdown exit

Supporting our clients

Experience from China

Proven reliability of our Industrial assets in China to accompany our clients in ramp-upphase

Collaboration & experience sharing

to transpose to other regions

Anticipate the recovery with increased commercial intensity

10 | Q1 2020 Results | 30th April 2020

Focus on Financials

Julian Waldron

Chief Financial Officer

11 I Q1 2020 Results | 30th April 2020

Q1 highlights (excluding Covid-19)

> Solid organic growth at WTS

> Low volumes in R&R Australia

>

Working capital

>

Commodity prices

>

Pricing momentum in Recycling & Recovery

>

Drought in Chile

  • Commercial wins

12 | Q1 2020 Results | 30th April 2020

Key financials Q1 2020

Revenue and EBIT growth impacted by global context of Covid-19

In €m

Q1 2019

Q1 2020

Gross

Organic

Revenue

4,210

4,198

(0.3)%

+0.5%

EBITDA

709

676

(4.7)%

(1.5)%

% Revenue

16.9%

16.1%

EBIT

293

231

(21.2)%

(14.9)%

% Revenue

7.0%

5.5%

Q1 2019

Q1 2020

Gross

Net debt

10,367

10,402

+0.3%

Net debt / EBITDA

3.3x

3.3x

  • FX impacts

€(27)m on Revenue

  • Commodity impacts

€(43)m on Revenue

  • Working Capital Requirement & Capex lower year-on-year

13 | Q1 2020 Results | 30th April 2020

Covid-19: focus on the recovery in China

Focus on Hazardous Waste

Tons per week, base 100 week 1, 2020

160

130

100

70

40

2020

  • Sharp decrease from week 4 with 6 hazardous waste facilities shut down
  • Volumes at SCIP volatile but hold on
  • Weekly volatility relatively high

Focus on Water volumes

Tons per week, base 100 week 1, 2020

120

100

80

60

2020

  • Volume decrease in tourism exposed areas, mainly Macao
  • c.20% decrease in volumes in week 4, progressively recovering up to week 12

Estimated impact on EBIT in China at €30m to €40m in 2020 confirmed

14 | Q1 2020 Results | 30th April 2020

Covid-19: impact in Water - end Q1

  • Reduction in volumes observed in some geographies, mainly linked to tourism
    • Europe: tourism-dependent places in France and Spain impacted by lower consumption
  • No significant impact observed so far in North America
  • Chile equally impacted by drought and Covid-19
  • We have suspended disconnections in all impacted geographies
  • Construction projects generally stopped

Trends in volume,

France

Single digit growth

Single digit decrease

Double digit decrease

15 | Q1 2020 Results | 30th April 2020

Covid-19: impact in Water - April / Today

Varied impacts: illustration

> North America

> Czech Republic

Volumes sold have remained

Implementation of containment

in line with historical trends

measures led to a slowdown in

volumes from Mid-March

Positive trend observed since

the second half of April, with

progressive restart of economy

> Spain (tourism)

Tourism regions like the Canaries and Balearic Islands facing a severe decrease in volumes

Lockdown measures expected to be maintained at least until end-May

Magnitude of the slowdown - illustration

16 | Q1 2020 Results | 30th April 2020

Covid-19: impact in Recycling & Recovery - end Q1

  • Europe most impacted area, with strong differences between countries
  • Sharp decline of I&C collected and treated volumes, driven by industrial production slowdown and store closures
  • Rapid implementation of mitigation measures (interventions, logistics, interims, partial unemployment)
  • Saturation of EfW facilities maintained

R&R revenue exposure

% of 2018 revenue, by industry

Other Industries & Services 22%

Environmental Services 17%

Metallurgy 14%

Services 14%

Wholesale, Retail Trade, 8%

Power 7%

Pulp & Paper 6%

Construction, Deconstruction &

Materials 6%

Food & Beverage 3%

Chemical & Pharmaceutical 3%

Oil & Gas 1%

17 | Q1 2020 Results | 30th April 2020

Covid-19: impact in Recycling & Recovery - April / Today

Varied impacts: illustration

> Germany

Global volumes of processed waste maintaining, despite lower contribution from I&C

Weekly follow-up of I&C orders, base 100 9/03/2020

150

100

50

0

9/3

16/3

23/3

30/3

6/4

13/4

20/4

> Australia

As was anticipated, slowdown in infrastructure works leads to a reduction in landfill volumes

I&C volumes down in the three first weeks of April

> France

I&C volumes strongly impacted

Municipal waste impacted notably by cessation of large and green waste collection - part of those volumes should be recovered after lockdown

Magnitude of the slowdown - illustration

18 | Q1 2020 Results | 30th April 2020

Covid-19: impact in Environmental Tech & Solutions - Q1 / April / Today

Focus per division

  • Hazardous Waste affected by low volumes
    • Minerals hit by stop of all civil and constructions works, Chemicals resisting well
    • Lower activity in remediation in Europe
    • Fall in volumes in Asia due to plants closure in February
  • WTS quite resilient up to now
    • Supply chain impact in China
    • Rest of business proving resilient through April
  • SES: contained impact over Q1, solid trend in orders
    • Digital and Consulting activities resisting well
    • Environmental Quality Monitoring impacted by slowdown in economic activity, Consulting by lockdown

ETS revenue exposure

% of 2018 revenue, by industry

Municipal 19%

Oil & Gas 16%

Chemical & Pharmaceutical 13%

Other Manufacturing 10%

Power 8%

Environmental Services 7%

Food & Beverage 6%

Construction, Deconstruction &

Materials 4%

Electronic and Electric Products 4 %

Metallurgy 4 %

Other industry & services 10 %

19 | Q1 2020 Results | 30th April 2020

Covid-19: mitigation actions

Swift adaptation of our operations and cost structure

Cost management

Operational adjustments

Reduced consumption, driven by partial closure HQs

Non-critical business postponed

Travel freeze

Part time / furlough of employees in line with activity

slowdown

Reduce or replace subcontractors

Negotiated compulsory holiday period for French

Terminate interim missions, in line with activity decrease

employees during the containment and activity slowdown

Investments reduction

Total 2020 investments reduced by c.15%

Non-critical maintenance operations postponed

20 | Q1 2020 Results | 30th April 2020

Covid-19: uncertainty on the remaining duration of the containment measures and speed of the economic recovery

China

Europe

Americas

AMECA

EBIT

impact

Q1 2020

Full impact

Full impact

for c. 2 weeks

Full impact

For c. 1-2 weeks

Full impact

for c. 2 weeks

around €60m

April 2020

Lower impact

Full impact

Full impact

Full impact

  • Lower impact in China
  • Full impact elsewhere

Going forward

  • Mitigation actions to continue
  • Volumes stable at this point
  • Commodities volatile but paper and oil now positive
  • Governments determined to reopen economies
    in April / May / June

21 | Q1 2020 Results | 30th April 2020

A strong reinforcement of our liquidity

April financing operations

  • Issuance of €850m of senior bonds;
  • Repayment of €100m and issuance of €340m of private placements;
  • Repayment of €240m and issuance of €265m of commercial paper;
  • Extension of main €2.5bn revolving credit facility for 1 additional year to April 2025;

Liquidity position

In €bn

5,566

5,257

4,476

2,002

Undrawn

2,658

2,002

credit lines

3,564

Cash(1)

2,599

2,474

31 Dec. 2019

31 Mar. 2020

Pro forma

following April refinancing

operations

22 | Q1 2020 Results | 30th April 2020

(1) Cash net of mark-to-market derivatives

Organising for rebound

Bertrand Camus

Chief Executive Officer

23 I Q1 2020 Results | 30th April 2020

Shaping SUEZ 2030 helping better position the Group

  • Reinforce selectivity
    • Support our customers maintaining an open dialog with Municipalities/I&C/Industrials
    • Anticipate opportunities by identifying potential shift in businesses/eco-system/customers
  • Performance plan essential to adapt, mitigate and prepare for lockdown exit
    • Wave 1 rolled out as planned and strong short-term additional measures taken
    • Monitor health and well-being of employees and social climate
  • Reallocate our capital resources
    • Moving forward on our asset rotation plan
    • Total 2020 investments down by around 15% compared to 2019 levels

24 | Q1 2020 Results | 30th April 2020

Shaping a sustainable environment, now!

  • All the more relevant solutions with positive impact on health, quality of life and the protection of the natural capital
    • Cultural change at every level of the Group
    • Contribution to a sustainable environment reaffirmed
  • Work in close collaboration with governments and authorities
    • European green deal
    • Stimulus package taking into account climate change, biodiversity and environment protection

25 | Q1 2020 Results | 30th April 2020

9M 2019 Financial Results

Appendices

26 I Q1 2020 Results | 30th April 2020

Table of contents

1.

2019 Revenue, EBITDA, EBIT under the new segment structure

28

2.

Q1

2020 Revenue

31

3.

Net debt evolution in Q1 2020

37

4.

Q1

2020 operational KPIs

39

27 I Q1 2020 Results | 30th April 2020

9M 2019 Financial Results

Appendix 1

2019 Revenue, EBITDA, EBIT under the new segment structure

28 I Q1 2020 Results | 30th April 2020

2019 under the new segment structure

In €m

Q1 2019

H1 2019

9M 2019

FY 2019

REVENUE

4,210

8,656

13,127

18,015

Water

1,608

3,340

5,127

7,055

Recycling & Recovery

1,837

3,692

5,530

7,463

Environmental Tech & Solutions

800

1,706

2,606

3,690

Intercompany transactions

(35)

(82)

(136)

(193)

EBITDA

709

1,521

2,330

3,220

Water

853

1,788

Recycling & Recovery

521

1,067

Environmental Tech & Solutions

186

435

Other

(39)

(70)

EBIT

293

645

1,016

1,408

Water

432

923

Recycling & Recovery

210

411

Environmental Tech & Solutions

81

217

Other

(78)

(143)

29 I Q1 2020 Results | 30th April 2020

2019 under the new segment structure

Revenue, in €m

Q1 2019

H1 2019

9M 2019

FY 2019

WATER

1,608

3,340

5,127

7,055

Europe

856

1,796

2,758

3,794

AMECA

193

394

610

865

Asia Pacific

116

261

397

572

Americas

443

889

1,362

1,824

RECYCLING & RECOVERY

1,837

3,692

5,530

7,463

Europe

1,525

3,090

4,625

6,240

AMECA

27

53

73

97

Asia Pacific

276

532

806

1,083

Americas

8

16

26

43

ENVIRONMENTAL TECH & SOLUTIONS

800

1,706

2,606

3,690

Europe

348

718

1,083

1,504

AMECA

33

75

106

147

Asia Pacific

106

254

378

546

Americas

313

658

1,039

1,494

Intercompany transactions

(35)

(82)

(136)

(193)

TOTAL REVENUE

4,210

8,656

13,127

18,015

30 I Q1 2020 Results | 30th April 2020

AMECA = Africa, Middle East, Central Asia

9M 2019 Financial Results

Appendix 2

Q1 2020 Revenue

31 I Q1 2020 Results | 30th April 2020

Revenue +0.5% on an organic basis

Revenue in €m

+0.5% organic

4,210

4,198

(27)

(5)

+10

(5)

+23

(8)

FX

Scope

Water

R&R (1)

ETS (2)

Intercompany

transactions

Q1 2019

Q1 2020

(1) Recycling & Recovery

(2) Environmental Tech & Solutions

32 I Q1 2020 Results | 30th April 2020

Water

Organic revenue growth +0.6%

Revenue, in €m

Volumes down in first quarter in

(0.6)% gross

- Europe and China hit by Covid-19

+0.6% organic

+0.7% excl. FX

- Chile impacted by water restriction measures

Tariffs up 1.7% in France and +2.0% in Chile, down -1.3%

1,608

1,598

in Spain

(20)

(32)

+5

+26

+11

Scope

Volumes(1)

Tariffs(2)

Net Cial.

Works and

& FX

Activity(3)

others

  • Commercial activity benefited from the start of Toulouse contract in France

Q1 2019

Q1 2020

(1) At iso contracts

33 I Q1 2020 Results | 30th April 2020 (2) Escalation formula

(3) Net balance between contracts gained / renewed / lost & amended

Recycling & Recovery

Revenue down (0.3)% organically

Revenue, in €m

Processed waste volumes down (3.3)%, reflecting the

(1.1)% gross

(0.3)% organic

impact of population containment on I&C customers and

(0.7)% excl. FX

industrial production slowdown in March

Negative impact from commodities prices, on a declining

1,837

1,816

trend in Q1

(16)

+53

(28)

(42)

+12

Scope

Prices

Volumes & mix

Commodity

Construction

& FX

Prices

  • Construction activities slowed due to global context of Covid-19

Q1 2019

Q1 2020

34 I Q1 2020 Results | 30th April 2020

Environmental Tech & Solutions

Dynamic activity supported by commercial wins

Revenue, in €m

+3.3% gross

+2.9% organic

+2.9% excl. FX

Solid performance of both Water Technologies &

Solutions and SES

800

826

+3

+26

(13)

+11

Scope

Water

Hazardous

SES

& FX

Technologies

Waste

& Solutions

Q1 2019

Q1 2020

Hazardous Waste strongly impacted by volume slowdown both in China and in Europe

35 I Q1 2020 Results | 30th April 2020

Revenue by division

Q1 2019

Q1 2020

in %

Variation

In €m

of total

gross

organic

FX

Scope

WATER

1,608

1,598

38.1%

(0.6)%

+0.6%

(1.4)%

+0.1%

Europe

856

851

20.3%

(0.6)%

(0.6)%

+0.0%

-

AMECA

193

201

4.8%

+4.3%

+2.6%

+1.8%

-

Asia Pacific

116

120

2.9%

+3.3%

+4.0%

(0.7)%

-

Americas

443

426

10.1%

(3.9)%

+1.4%

(5.6)%

+0.3%

RECYCLING & RECOVERY

1,837

1,816

43.3%

(1.1)%

(0.3)%

(0.4)%

(0.4)%

Europe

1,525

1,514

36.1%

(0.8)%

(0.3)%

(0.0)%

(0.5)%

AMECA

27

24

0.6%

(11.5)%

(12.8)%

+1.3%

-

Asia Pacific

276

268

6.4%

(3.1)%

(0.1)%

(3.0)%

-

Americas

8

11

0.3%

+41.3%

+39.9%

+1.5%

-

ENVIRONMENTAL TECH & SOLUTIONS

800

826

19.7%

+3.3%

+2.9%

+0.4%

+0.0%

Europe

348

338

8.1%

(2.8)%

(2.4)%

+0.1%

(0.5)%

AMECA

33

39

0.9%

+18.0%

+15.2%

+2.8%

-

Asia Pacific

106

109

2.6%

+2.0%

+0.9%

+0.2%

+0.9%

Americas

313

341

8.1%

+9.0%

+8.2%

+0.5%

+0.3%

Intercos

(35)

(43)

(1.0)%

+22.2%

+22.2%

(0.0)%

-

TOTAL

4,210

4,198

100.0%

(0.3)%

+0.5%

(0.6)%

(0.1)%

36 I Q1 2020 Results | 30th April 2020

(1) Mainly SUEZ Consulting

Appendix 3

Appendix 3

Net debt evolution in Q1 2020

37 I Q1 2020 Results | 30th April 2020

Net debt evolution in Q1 2020

10,151

10,402

(470)

+295

+374

+51

Gross Cash

Change in

Capex

Others

Flow

WCR

Of which

+182

+192

3.3x

Maintenance Development

3.3x

Capex

Capex

ND/EBITDA

ND/EBITDA

Net debt

Net debt

31/12/2019

31/03/2020

38 | Q1 2020 Results | 30th April 2020

Appendix 4

Q1 2020 operational KPIs

39 I Q1 2020 Results | 30th April 2020

Non financial KPIs

WATER

(1)

Q1 2020

∆ 20/19

Mm 3 sold

France

133

(1.8)%

Spain

151

+1.1%

Chile

167

(2.4)%

China

178

(6.8)%

North America

53

(1.3)%

Morocco

37

+4.6%

Water DB backlog - €bn (3)

1.1

(3.2)%

RECYCLING & RECOVERY

Mt

Q1 2020

∆ 20/19

Elimination

3.5

(8.1)%

Recovery

5.1

+0.3%

Energy from Waste

2.2

(1.7)%

Sorting & Recycling

2.9

+2.0%

Total processed volumes

8.6

(3.3)%

ENVIRONMENTAL TECH & SOLUTIONS

Water Technologies & Solutions

∆ 20/19 (2)

in €m

Q1 2020

Engineered Systems (ES)

381

(7.5)%

Chemical & Monitoring Solutions (CMS)

244

+7.5%

Total orders

625

(2.1)%

Hazardous Waste

Mt

Q1 2020

∆ 20/19

Elimination

200

+1.3%

Recovery

280

(4.2)%

Total Hazardous Waste

480

(2.0)%

(1) At iso contracts

40 I Q1 2020 Results | 30th April 2020 (2) Organic growth

(3) Variation vs December 31st, 2019

Recycling & Recovery Europe

Commodity prices evolution

BDSV Sorte 1 (ferrous metal, recycled) - in €/ton

1.05 (corrugated board) - in €/ton

270

78

78

240

216

250

202

64

68

74

218

63

50

170

30

20

20

Brent - in €/baril

Average Q1 2020

68

71

Average Q1 2019

65

60

59

53

58

55

47

42

21

41 I Q1 2020 Results | 30th April 2020

Recycling & Recovery Europe

Commodity prices evolution

PET (Virgin material) - in €/ton

PEBD - in €/ton

1375

1325

1086

1,500

1,480

1134

1110

1,400

1,375

1,080

940

1,295

824

1,218

1,285

880

1,255

788

1,205

Electricity - in €/Mwh - CAL 20

51

52

52

51

49

47

50

49

47

46

47

45

45

40

40

CAL 21 FR

CAL 21 DE

36

CAL 21 NL

36

Average Q1 2020

Average Q1 2019

42 I Q1 2020 Results | 30th April 2020

Disclaimer

This presentation contains estimates and/or forward-looking statements and information. These statements include financial projections, synergies, estimates and their underlying assumptions, statements regarding plans, expectations and objectives with respect to future operations, products and services, and statements regarding future performance. Such statements do not constitute forecasts regarding SUEZ's results or any other performance indicator, but rather trends or targets, as the case may be. No guarantee can be given as to the achievement of such forward-looking statements and information.

Investors and holders of SUEZ securities are cautioned that forward-looking information and statements are subject

to various risks and uncertainties, which are difficult to predict and generally beyond the control of SUEZ, and that such risks and uncertainties may entail results and developments that differ materially from those stated or implied in forward- looking information and statements. These risks and uncertainties include, but are not limited to, those discussed

or identified in the public documents filed with the Autorité des Marchés Financiers (AMF). Investors and holders of SUEZ securities should consider that the occurrence of some or all of these risks may have a material adverse effect on SUEZ. SUEZ is under no obligation and does not undertake to provide updates of these forward-looking statements

and information to reflect events that occur or circumstances that arise after the date of this document. More comprehensive information about SUEZ may be obtained on its website (www.suez.com).

This document does not constitute an offer to sell, or a solicitation of an offer to buy SUEZ securities in any jurisdiction.

43 Q1 2020 Results | 30th April 2020

CONTACTS

FINANCIAL COMMUNICATION

Mathilde Rodié

E-mail: mathilde.rodie@suez.com

Cécile Combeau

E-mail: cecile.combeau@suez.com

Baptiste Fournier

E-mail: baptiste.fournier@suez.com

E-mail: financial.communication@suez.com

Tel: + 33 (0)1 58 81 24 05

SUEZ

Tour CB21 - 16, place de l'Iris 92040 Paris La Défense Cedex

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