2020 MANAGEMENT REPORT AND ANNUAL CONSOLIDATED FINANCIAL STATEMENTS CONTENTS 01 MANAGEMENT REPORT 1 ENGIE 2020 RESULTS ..............................................................................................................................................7 2 BUSINESS TRENDS ............................................................................................................................................... 17 3 OTHER INCOME STATEMENT ITEMS ............................................................................................................... 24 4 CHANGES IN NET FINANCIAL DEBT ................................................................................................................. 26 5 OTHER ITEMS IN THE STATEMENT OF FINANCIAL POSITION .................................................................. 30 6 PARENT COMPANY FINANCIAL STATEMENTS ............................................................................................. 31 02 CONSOLIDATED FINANCIAL STATEMENTS INCOME STATEMENT .......................................................................................................................................................... 34 STATEMENT OF COMPREHENSIVE INCOME ............................................................................................................... 35 STATEMENT OF FINANCIAL POSITION ........................................................................................................................... 36 STATEMENT OF CHANGES IN EQUITY ........................................................................................................................... 38 STATEMENT OF CASH FLOWS ......................................................................................................................................... 40 03 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Note 1 ACCOUNTING FRAMEWORK AND BASIS FOR PREPARING THE CONSOLIDATED FINANCIAL STATEMENTS ......................................................................................................................................................... 43 Note 2 MAIN SUBSIDIARIES AT DECEMBER 31, 2020................................................................................................ 49 Note 3 INVESTMENTS IN EQUITY METHOD ENTITIES .............................................................................................. 55 Note 4 MAIN CHANGES IN GROUP STRUCTURE ....................................................................................................... 63 Note 5 FINANCIAL INDICATORS USED IN FINANCIAL COMMUNICATION ............................................................ 66 Note 6 SEGMENT INFORMATION .................................................................................................................................... 70 Note 7 REVENUES .............................................................................................................................................................. 78 Note 8 OPERATING EXPENSES ...................................................................................................................................... 82 Note 9 OTHER ITEMS OF INCOME/(LOSS) FROM OPERATING ACTIVITIES ........................................................ 83 Note 10 NET FINANCIAL INCOME/(LOSS) ....................................................................................................................... 86 Note 11 INCOME TAX EXPENSE ........................................................................................................................................ 87 Note 12 EARNINGS PER SHARE ....................................................................................................................................... 91 Note 13 GOODWILL ............................................................................................................................................................... 92 Note 14 INTANGIBLE ASSETS .......................................................................................................................................... 100 Note 15 PROPERTY, PLANT AND EQUIPMENT ........................................................................................................... 104 ENGIE - 2020 CONSOLIDATED FINANCIAL STATEMENTS 3 Note 16 FINANCIAL INSTRUMENTS ................................................................................................................................ 108 Note 17 RISKS ARISING FROM FINANCIAL INSTRUMENTS ..................................................................................... 125 Note 18 EQUITY ................................................................................................................................................................... 145 Note 19 PROVISIONS ......................................................................................................................................................... 149 Note 20 POST-EMPLOYMENT BENEFITS AND OTHER LONG-TERM BENEFITS ............................................... 155 Note 21 SHARE-BASED PAYMENTS ............................................................................................................................... 164 Note 22 RELATED PARTY TRANSACTIONS ................................................................................................................. 166 Note 23 EXECUTIVE COMPENSATION .......................................................................................................................... 168 Note 24 WORKING CAPITAL REQUIREMENTS, INVENTORIES, OTHER ASSETS AND OTHER LIABILITIES ...... ............................................................................................................................................................................... 169 Note 25 LEGAL AND ANTI-TRUST PROCEEDINGS ..................................................................................................... 171 Note 26 SUBSEQUENT EVENTS ...................................................................................................................................... 177 Note 27 FEES PAID TO THE STATUTORY AUDITORS AND TO MEMBERS OF THEIR NETWORKS .............. 178 Note 28 INFORMATION REGARDING LUXEMBOURG AND DUTCH COMPANIES EXEMPTED FROM THE REQUIREMENTS TO PUBLISH ANNUAL FINANCIAL STATEMENTS ....................................................... 179 ENGIE - 2020 CONSOLIDATED FINANCIAL STATEMENTS 4 ENGIE - 2020 CONSOLIDATED FINANCIAL STATEMENTS 5 01 MANAGEMENT REPORT 1 ENGIE 2020 RESULTS ..............................................................................................................................................7 2 BUSINESS TRENDS ............................................................................................................................................... 17 3 OTHER INCOME STATEMENT ITEMS ............................................................................................................... 24 4 CHANGES IN NET FINANCIAL DEBT ................................................................................................................. 26 5 OTHER ITEMS IN THE STATEMENT OF FINANCIAL POSITION .................................................................. 30 6 PARENT COMPANY FINANCIAL STATEMENTS ............................................................................................. 31 ENGIE - 2020 CONSOLIDATED FINANCIAL STATEMENTS 6 MANAGEMENT REPORT 1 ENGIE 2020 RESULTS 1 ENGIE 2020 RESULTS ENGIE 2020 financial results Progress at pace on new strategic direction towards accelerating the energy transition Strong recovery from Q2 levels, with H2 organic performance similar to 2019 Business Highlights • Major capital projects delivered with €4.0 billion growth Capex (1) • Strong growth in Renewables with 3 GW commissioned and 2 GW acquired • Sale of 29.9% shareholding in SUEZ completed • Client Solutions and further strategic reviews launched towards Group simplification • Employee consultation launched for potential creation of new leader in multi-technical services • New ExCom announced • Continued ESG progress, with commitment to finalize coal exit in Europe by 2025 and globally by 2027 • Decision to stop preparation works that would allow for the 20-year extension of two nuclear units beyond 2025 • Update on new strategic direction alongside Q1 results, on 18 May 2021 Financial performance • 2020 NRIgs in line with guidance, EBITDA and COI (2) above expectations • Significant impact of COVID-19 in 2020 mainly on Client Solutions and Supply, with c. €1.2 billion total Group impact at COI level • Negative FX impact of €0.3 billion at COI level, mainly due to BRL depreciation • Net financial debt at €22.5 billion, down €3.5 billion versus last year, strong liquidity and strong investment grade rating maintained • Impairment of nuclear assets, partially offset by capital gains on disposals, leading to NIgs of €-1.5 billion • 2020 proposed dividend of €0.53 per share • 2021 guidance (3): NRIgs expected in the range of €2.3-2.5 billion 1.1 Key Financial figures at December 31, 2020 % change % change (reported (organic In billions of euros Dec. 31, 2020 Dec. 31, 2019 basis) basis) (1) Revenues 55.8 60.1 -7.2% -5.7% EBITDA 9.3 10.4 -10.5% -6.5% CURRENT OPERATING INCOME (COI) 4.6 5.8 -21.3% -16.4% Net recurring income Group share 1.7 2.7 -36.5% -34.3% Net income, Group share (1.5) 1.0 ‐ CAPEX 7.7 10.0 ‐ Cash Flow From Operations (CFFO) (2) 7.1 7.6 ‐ Net financial debt 22.5 25.9 -3.5