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

FY 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.

RESULTS 2022

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AGENDA

• A historical year:
  Success of Suez integration
  and 2022 Results well above guidance

• Detailed 2022 financial
  and operational performance

• Appendices

RESULTS 2022

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KEY 2022 HIGHLIGHTS

a historical year, well above guidance

Record 2022 results, above guidance, with a very strong Q4

Successful merger with Suez

and benefits associated ahead of plan

Confirmation of the strength and adaptability of our business models

A powerful growth platform

An ambitious 2023 guidance, in line with 2024 accretion objectives

RESULTS 2022

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VEOLIA DELIVERED OUTSTANDING 2022 PERFORMANCE AT ALL LEVELS

2022 Results put the Group on a path of strong profits growth for 2023 and 2024

1 Revenue growth of +14.1%(1),	4 ● Net FCF of €1 032M
+6.5%(1) excl. energy prices, to €42.9bn	(€1.2bn excl. exceptional Suez integration costs)

Growth acceleration throughout the year fueled by pricing and indexation

• ● EBITDA of €6 196M, up +7.2%(1) above our objective of +4% to +6%
• • Current EBIT(2) of € 3 062M, up +16.3%(1)
  • Current net income(2) of €1 162M, +29.7% vs. 2021(3)

and above guidance of €1.1bn

• Net debt(2) of € 18.1bn
• Leverage ratio(2) of 2.9x,
  one year ahead of plan, to below 3x

• ESG: further improvement
  of our ESG results and rankings
• • 14 million tons of reduced CO2 emissions in 2022 for our clients
  • 320Mm3 of water saved on an annual basis thanks to improved efficiency of water distribution networks since 2019

• ● €146M of synergies in 2022,

ahead of €100M annual target

• Complemented by €371M of efficiency gains ahead of €350m target

RESULTS 2022

Proposal to increase dividend by 12% to

€1.12 per share(4)

1. At constant scope and forex vs. combined 2021
2. Before Suez PPA impact- See appendix
3. +27.7% at constant FX
4. Subject to approval of the AGM of 27 April 2023

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