Voltalia : Présentation Conférence ODDO BHF – 5 janvier 2023 (en anglais)

INVESTOR PRESENTATION

ODDO BHF CONFERENCE

J A N U A R Y 5 - 6 , 2 0 2 3

FORWARD- LOOKING

STATEMENTS

IMPORTANT NOTICE - NOT TO BE DISTRIBUTED, DIRECTLY OR INDIRECTLY IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN

By attending the meeting where the presentation is given, or by accessing the following slides, you agree to be bound by the following limitations and qualifications. Failure to comply with these may constitute a violation of applicable securities laws.

This presentation is confidential and is being provided to you solely for your information. It may not be reproduced, redistributed or published (whether internally or externally to your firm), directly or indirectly, in whole or in part, toward any other person.

This presentation has been prepared by Voltalia S.A. (the "Company") on a confidential basis, solely for use at its meetings with investors to be held in connection with the rights issue of the Company. The business and financial condition of the Company are described in the Company's offering documents, which are comprised of (i) the English language international offering circular (the "IOC") and (ii) the prospectus (the "Prospectus" and, together with the IOC, the "Offering Documents"), which was approved by the French Autorité des Marchés Financiers (the "AMF") on 15 November 2022 under number 22-447, comprising (A) the universal registration document filed with the AMF under number D.21- 0410 on 2 May 2022 (the "Universal Registration Document"), (B) an amendment to the universal registration document filed with the AMF on 15 November 2022 (the "Amendment"), (C) a securities note (the "Note d'Opération") and (D) the summary of the Prospectus (included in the Note d'Opération), to which investors are invited to refer. The Prospectus may be obtained on the website of the Company (www.voltalia.com) and on the website of the AMF (www.amf-france.org). In the event of discrepancies between this presentation and the Offering Documents, the Offering Documents shall prevail. Investors' attention is drawn to the risk factors described in Chapter 5 of the Amendment and Section 2 of the Note d'Opération.

The information contained in this document is of an indicative nature and has not been verified independently. No representation or warranty, whether express or implied, is given regarding the accuracy, comprehensiveness or accuracy of the information and opinions contained in this presentation. This document is not meant to serve as a basis for, and shall not be used in connection with, an investment decision. No person shall be entitled to rely on, or shall have any claims against the Company, any of its affiliates, officers, directors, employees, any of their advisers, consultants or any other person arising from this document. The information contained in this document is indicative as at the date of this presentation and may have to be updated, amended or completed significantly. This document contains only summary information and does not purport to be comprehensive. The Company does not undertake to update, amend or complete the information contained in the document in order to reflect new information, new events or for any other reason.

This document includes "forward-looking statements". All statements other than statements of historical facts included in this document, including, without limitation, those regarding the financial position, business strategy, plans and objectives of management for future operations of the Company, are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the present and future business strategies of the Company and the environment in which the Company will operate in the future. Additional factors could cause actual results, performance or achievements to differ materially. These factors include the risk factors detailed in chapter 2 of the Amendment.

This document and the presentation do not constitute an offer to sell nor a solicitation of an offer to buy, nor shall there be any sale of ordinary shares in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The distribution of this document or any document relating to the presentation may, in certain jurisdictions, be restricted by local legislations. Persons into whose possession this document comes are required to inform themselves about and to observe any such potential local restrictions.

This document is not an advertisement and not a prospectus within the meaning of Regulation (UE) 2017/1129 of the European Parliament and of the Council of 14 June 2017 as amended (the "Prospectus Regulation") and as it forms part of domestic law in the United Kingdom by virtue of the European Union (Withdrawal) Act 2018 (the "UK Prospectus Regulation").

With respect to the member States of the European Economic Area, other than France (each, a "Relevant Member State"), no action has been or will be undertaken to make an offer to the public of the securities requiring a publication of a prospectus in any Relevant Member State. As a result, the preferential subscription rights and the new shares may not and will not be offered except in accordance with the exemptions set forth in Article 1(4) of the Prospectus Regulation or under any other circumstances that do not require the publication by Voltalia of a prospectus pursuant to Article 3 of the Prospectus Regulation and/or to applicable regulations of that Relevant Member State.

This document and the information it contains are being distributed to and are only intended for persons who are (x) outside the United Kingdom or (y) in the United Kingdom who are qualified investors (as defined in the Prospectus Regulation as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018) and are (i) investment professionals falling within the Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended, (the "Order") (ii) high net worth entities and other such persons falling Article 49(2) (a) to (d) of the Order ("high net worth entities", "unincorporated associations", etc.) or (iii) other persons to whom an invitation or inducement to participate in investment activity (within the meaning of Section 21 of the Financial Services and Market Act 2000) may otherwise lawfully be communicated or caused to be communicated (all such persons in (y)(i), (y)(ii) and (y)(iii) together being referred to as "Relevant Persons"). Any invitation, offer or agreement to subscribe, purchase or otherwise acquire securities to which this Presentation relates will only be engaged with Relevant Persons. Any person who is not a Relevant Person should not act or rely on this document or any of its contents.

This document may not be published, distributed or transmitted in the United States (including its territories and dependencies). This document does not constitute or form part of any offer of securities for sale or any solicitation to purchase or to subscribe for securities or any solicitation of sale of securities in the United States. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or the law of any State or other jurisdiction of the United States, and may not be offered or sold in the United States, directly or indirectly, absent registration under the Securities Act or pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. The Company does not intend to register all or any portion of the securities in the United States under the Securities Act or to conduct a public offering of the securities in the United States.

This document may not be published, forwarded or distributed, directly or indirectly, in the United States, Canada, Australia or Japan.

T O D A Y ' S S P E A K E R S

Sébastien CLERC

Chief Executive

Officer

JOINED VOLTALIA IN 2011

30 years of experience in the infrastructures and renewable sector. Co-founder and former head of Natixis Environment & Infrastructures (renamed Mirova)

Sylvine Bouan

Chief Financial

Officer

JOINED VOLTALIA IN 2022

20 years of experience in finance, including 6 years in a Big Four audit company followed by 13 years in Auchan Retail as finance director (subsidiaries and group)

Loan DUONG

Head of Communication

& Marketing (including IR)

JOINED VOLTALIA IN 2019

17 years of experience including 9 years in the energy sector in Business Development, Investor Relations and Communication managing positions

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1. S T R O N G M E S S A G E F O R R E N E W A B L E E N E R G Y I S A

M O R E T H A N 1 0 Y E A R S : F A S T G R O W I N G M A R K E T

CO2	Worldwide commitment to	Competitiveness of
reduce global warming	renewable energies

Strong and unprecedented political support

• Paris Agreement
• European Green Deal and REPowerEU
• Brazil Carbon neutrality target
• US Bipartisan infrastructure law

Reducing dependence on

energy imports

• In Europe, new urgency to build up local renewable capacity
• In Europe, acceleration of energy efficiency investments
• All other continents follow the same trend, more or less rapidly

• Long-termtrend of renewable cost reduction to resume when commodity/shipping cycles back to normal and thanks to technological progress
• Increased competitiveness given the high natural gas price

Short and long term

growing demand

Switch from non electric to electric, for instance

• Electric vehicles
• Electric building heating
• Electric water heating
• Green hydrogen

89% renewables in 2050(1)

100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
2000	2005	2010	2015	2020	2025	2030	2035	2040	2045	2050
Coal	Gas	Oil	Nuclear	Hydrogen	Wind	Solar	Other renewables	Others

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Source: Bloomberg NEF 2021, green scenario | Note: (1) Electricity generation, renewables includes wind, solar and other renewables.

V O L T A L I A ' S P U R P O S E S I N C E 2 0 1 4

IMPROVE GLOBAL ENVIRONMENT

FOSTERING LOCAL DEVELOPMENT

V O L T A L I A I S A M I S S I O N - D R I V E N C O M P A N Y A N D A B U S I N E S S - D R I V E N C O M P A N Y

When Voltalia builds new renewable power plants

Voltalia improves global environment and creates financial value

When Voltalia builds new affordable renewable power plants

Voltalia improves global environment, fosters local development and creates financial value

When, through Helexia, Voltalia provides energy efficiency services

Voltalia improves global environment, fosters local development, preserves resources and creates financial value

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