Slides
Page 1
Half-year results Morges, 3 September 2026
Page 2
Speaking today: François Fellay CEO Nicolas Conne CFO Send your questions to: investisseurs@romande-energie.ch
Page 3
H1 2026 results
Page 4
Key figures H1 2026 4 EBITDA 98 + 27 Strong performance from the Markets and Energy BUs, driven by the energy supply marginEBIT 46 + 24 Net profit 47 + 7 Alpiq contribution of CHF 11m CHF 37m in dividends to shareholders Swiss GAAP FER Electricity Thermal Energy generation* 361 + 21 78 + 8 Partial restart of the Forces Motrices du Grand-Saint- Bernard hydropower plant Grid distribution 1377 + 25 In line with higher consumption in the areas served Sold to end-customers 794 + 12 68 + 7 Higher sales to regulated and competitive-market customers * Share of generation attributable to Romande Energie CHF m GWh
Page 5
Romande Energie
Page 6
Investments and developments 6 Wind power: Useroles wind farm acquired (19 MW) + construction of Les Muids (10 MW) (France) District heating: now majority shareholder in ThermorésÔ Gland (Vaud) Venture capital: equity interest acquiredin Hyperion, a Finnish start-up Hydro: green light for a new run-of-river hydropower plant in Champéry (Valais) Agrivoltaic: 1st park in the canton of Vaud – the largest in Switzerland Successful SAP migration in record time Grids: CHF 40m invested in the grid
Page 7
Context
Page 8
Geopolitical and European context Geopolitics Looking ahead to 2027, Romande Energie locked in annual power procurement before the conflict in the Middle East broke out. EU bilateral agreements Switzerland integrated into the European power market → cross-border trading and security of supply, which is crucial in winter. 8
Page 9
Climate instability By 2050: + heatwaves, + droughts, higher river temperatures, declining glacial runoff and more irregular but more intense rainfall are all expected. 2 GWh of cooling generated in 2025 by lake-water cooling plants. A natural, renewable resource. 9 Cooling: a new energy need to be addressed
Page 10
Energy Strategy 2050 (Swiss Confederation) – intermediate status 10 Solar deployment Energy efficiency Wind Grids –50% CO₂ emissions by 2030 Wintertime security of supply
Page 11
What we are doing 11 Solar deployment Energy efficiency Wind Grids –50% CO₂ emissions by 2030 Wintertime security of supply Installed capacity: we rank 4th in Switzerland 7 new solar contracting installations Wind–solar–hydropower mix / Bilaterals III 1 park in Sainte-Croix (VD) 1 ongoing project (17 wind turbines – VD) 6 parks in France Constant grid reinforcement and modernisation Smart meters: target reached 2 years ahead of schedule Energy renovation, district heating, heat pumps, mobility Energy renovation, district heating, heat pumps, mobility
Page 12
Financial results H1 2026
Page 13
Operating revenue 71 98 EBITDA 386 407 Increased operating profitability 13 EBIT 22 46 24 12 Share of profit from associates Net profit 18% 24% 6% 11% 10% 12% 40 47 CHF m CHF 11m = Alpiq's contribution to our bottom line 109 52 Cash flow from operations 83 90 CAPEX2025 2026Half-year figures 2025 figures restated for Business Units (reorganisation as of 01.07.2025)
Page 14
EBITDA up in H1 2026 14 CHF m
Page 15
Energy Markets CHF m 15 Contribution from all Business Units Two complementary performance drivers EBITDA Operating revenue • Strong improvement in the energy supply margin: tariff adjustments, lower balancing- power costs and discontinuation of the average price method • Positive contribution from Forces Motrices Hongrin-Léman (FMHL) • +6% increase in electricity generation, driven by Forces Motrices du Grand-Saint-Bernard (FGB) and solar power, despite low rainfall • +11% growth in thermal and expansion of district heating networks EBITDA Operating revenue 67 69 33% 41% 22 28 1% 11% 1 18 154148 2025 2026Half-year figures
Page 16
Grids Building Solutions CHF m 16 31% 29% 1% Contribution from all Business Units Grids stable – Business Solutions growing EBITDA Operating revenue 68 82 0 1 48 47 • Growth driven by building energy renovation • Supporting the energy transition: University of Lausanne project • Solid contribution to Group profits despite lower WACC • Growth in merchant (non-monopoly) revenue EBITDAOperating revenue 156 161 2025 2026Half-year figures
Page 17
17 Cash flow from operations doubled, investments aligned with strategy CHF m Cash flow from operations CAPEX 52 109 90 83 40 19 13 40 7 18 17 8 3 8 • Higher EOS Holding dividend confirmed • Improved energy supply margin • Continued grid investment • Expansion of district heating networks • 2025: acquisition of minority interests in Switzerland and France Power Grids Electricity in Switzerland Equity-interest acquisitions and other Electricity in France Heating / cooling 2025 2026Half-year figures
Page 18
Outlook • Capital expenditure maintained at a high level • Second-half performance traditionally softer • Continued vigilance regarding weather, geopolitical and macroeconomic risks • The Group remains confident in its outlook for the full year • On track with the 2030 value-creation trajectory 18 Adjusted EBITDA 2030 CHF 170-190m Annual capex CHF 160-200m (over 5 years)
Page 19
Next events
Page 20
Calendar 2027 • 2026 full-year results, Lausanne 24 March 2027 • Investor meeting, Zurich 25 March 2027 • Annual General Meeting of Shareholders 12 May 2027 • 2027 half-year results 9 September 2027 20
Page 21
Send your questions to: investisseurs@romande-energie.ch
Page 22
Thank you for listening François Fellay CEO Nicolas Conne CFO