Invitation to our General Meeting 2023

Introduction

2022 RESULTS: STRONG PERFORMANCE IN A CHALLENGING ENVIRONMENT – ACTIVE SIGNING TO PREPARE FUTURE GROWTH

NET PROFIT (Group share)

€2.8 bn

  • ALL GAS & SERVICES BUSINESS LINES AND REGIONS SHOW STRONG AND RESILIENT GROWTH THANKS TO A SOLID MIX
  • STRONG GROWTH IN SALES up +28.3% +7.0% on a comparable basis (a)
  • NEW INCREASE IN OPERATING MARGIN (b) +70 BPS
  • STRONG INVESTMENT MOMENTUM €3.3 bn investment opportunities, of which >40% of projects are linked to energy transition
  • STRONG PROGRESSION OF RECURRING RETURN ON CAPITAL EMPLOYED (c) REACHING 10.3% one year ahead of ADVANCE strategy schedule
  • SIGNIFICANT PROGRESS IN THE FIELDS OF ENERGY TRANSITION AND SUSTAINABLE DEVELOPMENT

DELIVERING VALUE TO SHAREHOLDERS OVER THE LONG TERM

DIVIDEND PROPOSAL

2.95 euros (d)

STRONG INCREASE OF THE DIVIDEND PROPOSED IN 2023 +12.2% growth (e)

NET PROFIT ALLOCATION 58%

DIVIDEND GROWTH

   Dividend (f) in euro per share

Free share attribution

This graph shows the dividend growth.

  • Dividend (Dividend Per Share paid in the year and related to the previous year's result. Adjusted for the 2‑for‑1 share split in 2007, for free share attributions and for the capital increase completed in October 2016.) in euro per share
    • 2003: approximately €0.6
    • 2005: approximately €0.8
    • 2007: approximately €1.0
    • 2009: approximately €1.2
    • 2011: approximately €1.4
    • 2013: approximately €1.6
    • 2015: approximately €1.8
    • 2017: approximately €1.95
    • 2019: approximately €2.1
    • 2021: approximately €2.5
    • 2023: approximately €2.9
  • Free share attribution
    • 2003: approximately €0.6
    • 2005: approximately €0.9
    • 2007: approximately €1.1
    • 2009: approximately €1.2
    • 2011: approximately €1.5
    • 2013: approximately €1.7
    • 2015: approximately €1.8
    • 2017: approximately €2.1
    • 2019: approximately €2.5
    • 2021: approximately €2.7

+12.2% CAGR (Compound annual growth rate.) *over 20 years

* Compound annual growth rate.

  1. Change excluding the currency, energy (natural gas and electricity) and significant scope impacts.
  2. Change in Operating Income Recurring on Sales, excluding energy impact.
  3. Return on Capital Employed based on the recurring net profit.
  4. Subject to approval at the Shareholders’ General Meeting scheduled for May 3, 2023.
  5. Adjusted for the free share attribution in 2022.
  6. Dividend Per Share paid in the year and related to the previous year's result. Adjusted for the 2-for-1 share split in 2007,for free share attributions and for the capital increase completed in October 2016.