Gas Plus S p A : Presentazione agli Analisti FY 2022

Gas Plus Group

Analyst Presentation

FY 2022 Financial Results

April 5th, 2023*

* This document is updated on 6 months basis, occurring after 31 December and 30 June closing

Agenda

▪1	MARKET SCENARIO

▪2 HIGHLIGHTS

▪3 FINANCIAL RESULTS

1

Market Scenario

TTF Gas Price - Day Ahead

350 300 250 200 150 100 50 0

Jan Feb Mar Apr May Jun Jul	Aug Sep Oct Nov Dec
€/MWh - 2021	€/MWh - 2022

TTF vs VTPTTFRomaniaGas Pr ceGas- QuarterPrice*Ahead- Day Ahead

310
260
210
160
110
60
10
Jan	Feb Mar Apr May Jun	Jul	Aug	Sep Oct Nov Dec
	€/MWh - 2022 - VTP Romania		€/MWh - 2022 - TTF

TTFBrentGas Pricerice - Quarter- Month+1A ead		TTF Gas Price - Quar	r Ahead
	€/$ Exchange Rate - Spot
160		1,25
140
	1,20
120
	1,15
100
	1,10
80
	1,05
60
40		1,00
20		0,95
0		0,90
	Jan Feb Mar	Apr May Jun Jul	Aug Sep Oct Nov Dec
Jan Feb Mar Apr May Jun Jul	Aug Sep Oct Nov Dec
$/Bbl - 2021	$/Bbl - 2022		€/$ - 2021	€/$ - 2022

(*) source: BRM	2

Agenda

▪1	MARKET SCENARIO

▪2 HIGHLIGHTS

▪3 FINANCIAL RESULTS

3

Highlights

The Group performed well, net of extraordinary contributions in Italy and Romania, in terms of both development projects and profitability:

• Romanian gas-in of the Midia Project, anticipated at half year, allowed a + 42 % of gas production for 2022 and 2023 production is expected to double 2022 levels
• E&P EBITDA reached € 83.5 M (vs € 10.1 M in 2021)

Only Retail BU was affected by contingent market constrains also in 2H 22 and posted on yearly basis a - € 11.8 M EBITDA.

Strong reduction of NFP to € 49 M - Romanian RBL financing of € 19 M fully reimbursed at the beginning of 2023.

Charge of extraordinary contributions pushed the tax rate to 94 %: Net Profit 2022 reduced to € 3.4 M - compared with a Net Profit Adjusted of € 32.4 M.

Outlook 2023

• Return to profitability of the Retail BU will balance an expected slight reduction of the E&P EBITDA, affected positively by the FY contribution of Romanian production, and negatively by lower gas price scenarios.
• Further Capex mainly for Longanesi development project and exploration well E15-1 in the Dutch North Sea.
• Lower charge of extraordinary contributions on 2023 revenues, applicable as last year, only in Romania, in the current fiscal setup.

4