#1Centrica plc Preliminary Results for the year ended 31 December 2021 ISA Bah Gas centrica EVaillant#2Disclaimer centrica This presentation does not constitute an invitation to underwrite, subscribe for, or otherwise acquire or dispose of any Centrica shares or other securities. This presentation contains certain forward-looking statements with respect to the financial condition, results, operations and businesses of Centrica plc. These statements and forecasts involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There are a number of factors that could cause actual results or developments to differ materially from those expressed or implied by these forward- looking statements and forecasts. Past performance is no guide to future performance and persons needing advice should consult an independent financial adviser. 2 Centrica plc Preliminary Results 2021#3Chris O'Shea Group Chief Executive 3 Centrica plc Preliminary Results 2021 committed to fully electrifying centrica British Gas LI VXL#4Setting the context External environment Learning to live with Covid-19 Unprecedented wholesale gas and power price levels and volatility • Changing UK regulatory environment ● 2021 delivery ● ● ● • Disappointing British Gas Services & Solutions performance Continued disciplined focus on shareholder returns Fixing the core business to provide platform for growth Deploying capital in distributed energy opportunities Clear path to restarting a dividend ● Further progress in focusing and de-risking the portfolio Resilient financial results in a volatile market ● 4 Centrica plc Preliminary Results 2021 centrica#5The turnaround of Centrica Simplify and de-risk the portfolio and strengthen the balance sheet • Portfolio simplification and de-risking materially complete Direct Energy sale completed - Spirit Energy Norway sale announced - • Balance sheet strengthened Reduced decommissioning liabilities Net cash position at year end 5 Centrica plc Preliminary Results 2021 Stabilise the business and improve operational performance ● · Significant Group restructure - Focused business units - Increased empowerment - Customer focus • New terms and conditions in place • Increasing colleague engagement ● ● centrica ● Deliver growth and position ourselves for net zero • Offering customers net zero propositions Building capability and engineer capacity Investigating energy transition opportunities for existing assets Investing in flexible distributed power generation#6Kate Ringrose Chief Financial Officer 6 Centrica plc Preliminary Results 2021 HIVE centrica#7Robust financial performance in 2021 Year ended 31 December (£m) From continuing operations: Adjusted revenue Adjusted gross margin Adjusted operating costs Adjusted operating profit¹ Net finance cost Group tax charge (incl. JV tax) Group effective tax rate Adjusted earnings Adjusted EPS Adjusted EPS excluding Spirit Energy assets held for sale 2020 14,949 2,333 (1,909) 447 (215) (67) 26% 165 2.8p 2021 18,300 2,870 (1,819) 948 (187) (433) 59% 237 4.1p 2.8p 1. Includes share of profits/(losses) from JVs and associates, net of interest and taxation, of £23m in 2020 and £(103)m in 2021. 7 Centrica plc Preliminary Results 2021 A 22% 23% (5%) 112% (13%) 546% 33ppt 44% 46% centrica#8Growth in operating profit after tax Year ended 31 December (£m) British Gas Services & Solutions British Gas Energy Centrica Business Solutions Bord Gáis Energy Energy Marketing & Trading Upstream Spirit Energy CSL Nuclear Total Continuing Operations Operating profit 2020 191 82 (132) 42 174 90 84 23 (17) 447 2021 121 118 (52) 28 70 663 624 77 (38) 948 A (70) 36 (14) (104) 573 540 54 (21) 501 2020 (59) (23) 11 (5) (35) 28 32 (11) 8 (83) Tax 2021 (23) (15) 7 2 (13) (452) (450) 11 (12) (494) A 36 8 (4) 7 22 (480) (482) 22 (20) (411) Refer to slide 28 for a reconciliation of 2020 to prior segmentation. The above adjusted figures are before exceptional items and certain re-measurements. Adjusted operating profit includes share of joint ventures and associates after interest and taxation. A reconciliation of adjusted operating profit is provided in the Group Financial Review in the Preliminary Results announcement. 8 Centrica plc Preliminary Results 2021 Operating profit after tax 2021 2020 132 59 (121) 37 139 118 116 12 (9) centrica 364 98 103 (45) 30 57 211 174 88 (50) 454 A (34) 44 76 (7) (82) 93 58 76 (41) 90#9Robust cash flow generation and a stronger balance sheet Year ended 31 December (£m) EBITDA from continuing operations Tax Dividends received Working capital / other Decommissioning spend Net investment Exceptional cash flows Free cash flow from continuing ops Free cash flow from discontinued ops Total free cash flow 9 Centrica plc Preliminary Results 2021 2020 1,336 (2) 62 (72) (63) (456) (120) 685 376 1,061 2021 1,850 (140) 2 (81) (55) (326) (76) 1,174 2,588 3,762 A 38% 71% 255% Year ended 31 December (£m) Free cash flow from continuing operations Interest Pension deficit payment Movements in margin cash Other financing cash flows affecting net debt Adjusted cash flow affecting net debt - cont. Adjusted cash flow affecting net debt - discont. Adjusted cash flow affecting net debt - total centrica Opening net debt ¹ (as at 1 January) Adjusted cash flow movements Non cash movements Closing net debt 2020 685 (195) (175) 56 (30) 341 413 754 (3,507) 754 (245) (2,998) 1. Net debt includes margin cash balances. Margin cash balance at 31 December 2021 is £411m. 2021 1,174 (231) (368) 481 1 1,057 2,588 3,645 (2,998) 3,645 33 680#10A strong balance sheet key to growing shareholder value • Robust balance sheet and strong investment grade credit ratings Triennial pensions review expected to conclude in H1 2022 Seeking to grow operating cash flows over time Focused cost management ● ● • Disciplined deployment of capital ● - Maintenance capital of ~£100m p.a. - Potential investments in energy transition opportunities Deliver attractive shareholder returns - Restart dividend and grow over time Pension deficit (£bn) 3.0 2.5 2.0 1.5 1.0 0.5 0.0 centrica IAS 19 Technical deficit¹ رلار Jun Dec Jun Dec Jun Dec 2019 2019 2020 2020 2021 2021 1. On a pure roll-forward basis from 31 March 2018, using the same methodology and consequent assumptions, the scheme funding (Technical Provisions) deficit would be in the region of £1.3bn as at 31 December 2021. The 31 March 2021 triennial review is underway and the valuation methodology and assumptions may differ from those previously used. 10 Centrica plc Preliminary Results 2021#112022 outlook broadly positive • Higher commodity prices positive for Upstream - Higher DDA rates Remain exposed to outage risk - Spirit Energy UK production down ~10% EM&T legacy gas contract losses ~£50m; LNG profitable Wide range of outcomes for British Gas Energy No immediate bounce-back in British Gas Services & Solutions Positioned to deliver growth in most customer-facing businesses Maintain focus on risk management and balance sheet strength ● ● ● 11 Centrica plc Preliminary Results 2021 centrica Vaillant#12Chris O'Shea Group Chief Executive 12 Centrica plc Preliminary Results 2021 aby charging British Gas Here to solve wett Entdeln Gar centrica British Gas#13Looking to the future 01 Re-engaging our colleagues and growing our customer base Starting to see some signs of progress 02 UK energy retail market What's happened and how will it be fixed? 03 British Gas Energy Migrating our systems to capture future opportunities 04 British Gas Services Fixing our service levels and unlocking net zero 05 Investing in the energy transition Distributed generation portfolio and optimisation 13 Centrica plc Preliminary Results 2021 centrica#14Re-engaging our colleagues and growing our customer base 12,000 9,000 6,000 3,000 14 Centrica plc Preliminary Results 2021 9,910 60 2019 40 20 0 Total customers ('000) Employee engagement (%) 9,697 2020 43% 2019 9,964 2021 42% 2020 39% Q1 2021 2,500 2,000 1,500 1,000 500 55% 2021 Adjusted operating costs (£m) 2,172 2019 1,909 2020 1,819 2021 centrica#15Looking to the future 01 Re-engaging our colleagues and growing our customer base Starting to see some signs of progress 02 UK energy retail market What's happened and how will it be fixed? 03 British Gas Energy Migrating our systems to capture future opportunities 04 British Gas Services Fixing our service levels and unlocking net zero 05 Investing in the energy transition Distributed generation portfolio and optimisation 15 Centrica plc Preliminary Results 2021 centrica#16UK energy market severely impacted by high wholesale prices NBP gas prices (p/th) 300 250 200 150 100 50 Aug-21 Nov-21 Feb-22 May-22 Aug-22 Nov-22 Price cap differential to cheapest tariff (£) 1,400 1,200 1,000 800 Cheapest tariff based on the simple average of the 10 cheapest tariffs offered by suppliers in the market (one tariff per supplier), per Ofgem. Jan-19 Jun-19 Nov-19 Apr-20 600 Price cap 16 Centrica plc Preliminary Results 2021 February 2022 July 2021 Sep-20 Cheapest tariff basket Feb-21 Jul-21 Dec-21 UK residential energy suppliers 70 60 50 40 30 20 10 0 40% 30% 20% 10% 2011 UK residential annualised customer churn 50% 0% 2013 2015 2017 2019 centrica 2021 2019 2020 Source - Energy UK Electricity Switching Report December 2021. Rate total switches / 28m UK households. Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2021#17How will the UK energy supply retail market be fixed? • We have played a significant part in stabilising the market - Responsible business model ● ● - Disciplined approach to hedging and risk management - EM&T plays a valuable role - Ensured continued supply for 700k customers through SOLR We need to see substantial change in regulation - Stronger prudential regulation required - British Gas voluntarily separating customer deposits Focus of regulation needs to change - Customer requirements rather than customer switching Continue to engage constructively with government, regulator and other industry participants to drive sustainable market reform 17 Centrica plc Preliminary Results 2021 SOLR customers by supplier August 2021 to January 2022 MILLION 1.0 0.8 0.6 0.4 0.2 0.0 4% 0% -4% British Gas -8% centrica EDF British Gas customer growth by half year 8% E.ON Octopus Shell Scottish Energy Energy Power 2009 2011 2013 2015 2017 2019 2021#18Looking to the future 01 Re-engaging our colleagues and growing our customer base Starting to see some signs of progress 02 UK energy retail market What's happened and how will it be fixed? 03 British Gas Energy Migrating our systems to capture future opportunities 04 British Gas Services Fixing our service levels and unlocking net zero 05 Investing in the energy transition Distributed generation portfolio and optimisation 18 Centrica plc Preliminary Results 2021 centrica#19UK energy supply market going through rapid change ● • Need to ensure we give our customers what they want - Flexibility in electricity use and billing - Dynamic time of use tariffs ● Substantial increase in electrification - Increased numbers of electric vehicles - Growth in electricity use for heating ● Migrating systems to a lower-cost, 'software as a service' platform - More flexible billing ability - Modern and agile customer-focused ways of working - Preparing for the future - Driving down costs Remain focused on improving customer experience and efficiency - British Gas Energy NPS up 5 points to +14; complaints up - British Gas cost per customer down £9 to £93 19 Centrica plc Preliminary Results 2021 British Gas centrica#20Looking to the future 01 Re-engaging our colleagues and growing our customer base Starting to see some signs of progress 02 UK energy retail market What's happened and how will it be fixed? 03 British Gas Energy Migrating our systems to capture future opportunities 04 British Gas Services Fixing our service levels and unlocking net zero 05 Investing in the energy transition Distributed generation portfolio and optimisation 20 Centrica plc Preliminary Results 2021 centrica#21Preparing to capture future opportunities • Energy transition opportunities ● ● ● ● - We are the largest installer and servicer of heating systems - Electrification as much of an opportunity as hydrogen We are the biggest installer of smart meters - Needed to deliver the flexibility our network will require - We need to grow in the electric vehicle market - - Crucial to integrating home energy management Rebuilt ability to sell directly - Years of reliance on price comparison websites Making our operations fit for a net zero future - New modern planning and dispatch system by end of 2022 2022 focus is on materially improving our customer service - Maintain customer retention >80% 21 Centrica plc Preliminary Results 2021 Important Traffi GLOVE 4715 centrica#22Driving change in British Gas Services & Solutions • Disappointing 2021 ● performance primarily driven by: - Covid-19 - Industrial action - Supply chain issues Temporary market issues likely to continue into 2022 - Including UK labour market shortages 22 Centrica plc Preliminary Results 2021 Engineer absence rates 12% 10% 8% 6% 4% 2% 0% ● 2014 2015 2016 2017 2018 Furlough 2019 Q1 2020 Q2 2020 Q3 2020 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Covid -19 Apr-21 • ~0.5m working hours lost: May-21 Jun-21 Jul-21 V Absence rates more than doubled during Covid-19 increased contractor costs to provide cover - Letting customers down Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Rescheduled appointments 50% 40% 30% 20% 10% 0% 1.5% 1.0% Customer complaints 0.5% 2020 0.0% 2021 Jan Feb Mar Apr May Jun centrica Jul Aug Sep Oct Nov Dec 2021 2020 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec#23Building the workforce of the future ● ● Need to rebuild direct labour workforce after years of decline - Largest services field force in the UK with ~7,000 engineers - Reduced materially over recent years Terms and conditions changes painful but necessary - Allows us to rebuild our workforce ● Material shortage of heating engineers in the UK - Apprentice recruitment increasingly critical - In-house training academies a competitive advantage • Workforce changes will set us up to capitalise British Gas training academies HAMILTON LEICESTER THATCHAM DARTFORD on decarbonisation - Increased flexibility to enhance the customer experience - Near-term negative productivity impact with higher apprentices - Productivity improvements over time will reduce cost of direct labour 23 Centrica plc Preliminary Results 2021 Recruitment and attrition Engineers 2,000 1,500 1,000 500 0 -500 -1,000 -1,500 -2,000 2018 2019 Recruitment Apprentices Recruitment - Engineers centrica 2020 Attrition 2021#24Looking to the future 01 Re-engaging our colleagues and growing our customer base Starting to see some signs of progress 02 UK energy retail market What's happened and how will it be fixed? 03 British Gas Energy Migrating our systems to capture future opportunities 04 British Gas Services Fixing our service levels and unlocking net zero 05 Investing in the energy transition Distributed generation portfolio and optimisation 24 Centrica plc Preliminary Results 2021 centrica#25Selective asset ownership de-risks the Group and creates potential for growth • Portfolio simplification and de-risking materially completed Spirit Energy focused on UK and Netherlands - Cash generated retained for decommissioning - No investment in new exploration ● Retaining optionality for net zero projects - Spirit Energy UK, Rough • Nuclear a source of zero carbon power generation Investment in high return flexible, distributed generation - Peaking plants - methane then hydrogen - Battery - Solar ● ● Strategic focus on an integrated offering built around the energy customer 25 Centrica plc Preliminary Results 2021 111- PODPRE centrica#26Creating a more sustainable and profitable company ● ● Turnaround of Centrica progressing - Portfolio simplified and de-risked - Major restructuring materially completed - Balance sheet strengthened ● Well placed to handle the energy market crisis – Leading capabilities in energy procurement and risk management - Strong balance sheet supports customers 2022 focus on improving operational performance - Particular focus on customer service • Net zero a significant opportunity - Energy, services and related asset investments Clear path to restarting a dividend 26 Centrica plc Preliminary Results 2021 centrica Plug in baby Ve install home EV charging I'm a clean green electric machine#27Appendix 27 Centrica plc Preliminary Results 2021 centrica TA#282020 adjusted operating profit re-segmentation Year ended 31 December (£m) Previous segments 2020 as Small Business reported Energy British Gas Services & Solutions British Gas Energy Centrica Business Solutions Energy Supply Solutions Bord Gáis Energy Energy Marketing & Trading Upstream Group adjusted operating profit 28 Centrica plc Preliminary Results 2021 201 80 (140) (55) (85) 42 174 90 447 (8) 8 8 Metering (10) 10 2020 restated 191 82 (132) (47) (85) 42 174 90 447 centrica#29Remeasurements and exceptional items EXCEPTIONAL ITEMS AND STATUTORY PROFIT Year ended 31 December (£m) Adjusted operating profit from cont. ops Re-measurements - Energy supply Onerous energy supply contract provision Re-measurements - Upstream and EM&T E&P asset write-backs Power Generation asset write-backs Impairment of E&P disposal group Impairment of Centrica Business Solutions Fair value uplift-Centrica Innovations investment Restructuring provision release Statutory operating profit from cont. ops Profit on disposal of discontinued ops Statutory operating profit 29 Centrica plc Preliminary Results 2021 2021 948 3,917 (2,530) (2,628) 838 747 (244) (123) 15 14 954 613 1,567 centrica#30Disclaimer: Rules of thumb centrica The rules of thumb were provided in February 2022 based on the then current prevailing range of gas and power prices. They are illustrative and are intended as directional only and exclude any potential impairment or impairment write-back. The actual impact of price changes in the exploration and production and power environments on Centrica's profit after tax will likely differ from the indicators and do not represent any forecast, target or expectation as to future results or performance. These rules of thumb are directionally approximate and based upon Centrica's current portfolio. Please note that the relationship between oil, gas and power prices and results is not necessarily linear across a wide range of oil and gas prices. Changes in margins, differentials, seasonal demand patterns, operational issues, tax rates and other factors including timing of acquisition and divestment activity indicated, also materially impact the profit after tax impact of a change in underlying commodity prices. In addition, profit after tax and cash flow impact may differ due the timing of tax payments. Furthermore, there are a number of other factors that could cause actual results or developments to differ materially from those implied by the application of these rules of thumb. 30 Centrica plc Preliminary Results 2021#31Rules of thumb: E&P and Nuclear Please refer to disclaimer on slide 30 of this presentation before using this information. The table shows Centrica's earnings and free cash flow (FCF) sensitivity to changes in commodity prices on a hedged basis for 2022 as at 1 February 2022 Spirit Gas 1 CSL Gas Baseload power Movement 5p/therm 5p/therm £5/MWh 1. Excludes gas from assets held for sale. Sensitivities are based on 90% of 2021 volumes for retained Spirit assets and 100% of 2021 CSL and Nuclear volumes. Earnings impact assumes blended tax rates of Spirit Energy 40%, CSL 40% and UK nuclear 19%. 31 Centrica plc Preliminary Results 2021 2022 Earnings impact ~£2m ~£3m ~£11m 2022 FCF impact ~£6m -~£3m centrica ~£11m#32Revenue Year ended 31 December (£m) Continuing operations British Gas Services & Solutions British Gas Energy Centrica Business Solutions Bord Gáis Energy Energy Marketing & Trading Upstream Group revenue included in business performance Discontinued operations Direct Energy Gross revenue Inter-group revenue Total Centrica 2020 restated to reflect the new operating structure of the Group. 32 Centrica plc Preliminary Results 2021 2020¹ 1,547 7,007 1,526 820 2,917 1,918 15,735 9,483 25,218 (786) 24,432 2021 1,513 7,513 1,981 1,111 6,082 2,282 20,482 0 20,482 (2,182) 18,300 A (2%) 7% 30% 35% 109% 19% 30% (100%) (19%) 178% (25%) centrica#33Adjusted gross margin Year ended 31 December (£m) Continuing operations British Gas Services & Solutions British Gas Energy Centrica Business Solutions Bord Gáis Energy Energy Marketing & Trading Upstream Adjusted gross margin from continuing operations Discontinued operations Direct Energy Total Group adjusted gross margin The above adjusted figures are before exceptional items and certain re-measurements. 2020 restated to reflect the new operating structure of the Group. 33 Centrica plc Preliminary Results 2021 2020¹ 664 890 100 154 281 244 2,333 862 3,195 2021 574 849 143 136 242 926 2,870 0 2,870 A (14%) (5%) 43% (12%) (14%) 280% 23% (100%) (10%) centrica#34EBITDA Year ended 31 December (£m) Continuing operations British Gas Services & Solutions British Gas Energy Centrica Business Solutions Bord Gáis Energy Energy Marketing & Trading Upstream Other EBITDA Discontinued operations Direct Energy Total Group EBITDA 2020¹ 263 181 (79) 59 216 612 84 1,336 299 1,635 The above adjusted figures are before exceptional items and certain re-measurements. 2020 restated to reflect the new operating structure of the Group. 34 Centrica plc Preliminary Results 2021 2021 164 214 (4) 46 119 1,252 59 1,850 1,850 A (38%) 18% (95%) (22%) (45%) 105% (30%) 38% (100%) 13% centrica#35Adjusted operating profit Year ended 31 December (£m) Continuing operations British Gas Services & Solutions British Gas Energy Residential energy supply Business energy supply Centrica Business Solutions Energy supply Solutions Bord Gáis Energy Energy Marketing Trading Core EM&T activities Legacy gas contract Upstream Spirit CSL Nuclear Adjusted operating profit 35 Centrica plc Preliminary Results 2021 2020¹ 191 82 101 (19) (132) (47) (85) 42 174 232 (58) 90 84 23 (17) 447 2021 121 118 115 3 (52) 1 (53) 28 70 155 (85) 663 624 77 (38) 948 A (37%) 44% 14% Nm (61%) Nm (38%) (33%) (60%) (33%) 47% 637% 643% 235% 124% 36% centrica The above adjusted figures are before exceptional items and certain re- measurements. Adjusted operating profit includes share of joint ventures and associates after interest and taxation. A reconciliation of adjusted operating profit is provided in the Group Financial Review in the Preliminary Results announcement. 1. Refer to slide 28 for a reconciliation of 2020 to prior segmentation.#36Net investment Year ended 31 December (£m) Continuing operations British Gas Services & Solutions British Gas Energy Centrica Business Solutions Bord Gáis Energy Energy Marketing & Trading Upstream Other ² Net investment Net disposals Continuing net investment Discontinued net investment Total Group net investment 2020¹ (22) (47) (29) (14) (7) (430) (29) (578) 122 (456) (19) (475) 2021 (29) (15) (33) (36) (7) (290) (24) (434) 108 (326) 2,588 2,262 1. 2020 restated to reflect the new operating structure of the Group. 2. Other includes Corporate Functions.. See pages 84 to 87 in the Preliminary Results announcement for an explanation of the use of adjusted performance measures. 36 Centrica plc Preliminary Results 2021 centrica#37Free cash flow Year ended 31 December (£m) Continuing operations British Gas Services & Solutions British Gas Energy Centrica Business Solutions Bord Gáis Energy Energy Marketing & Trading Upstream Other Segmental free cash flow Discontinued operations Direct Energy Group total free cash flow excluding tax Taxes paid from continuing operations Taxes paid from discontinued operations Total Group adjusted free cash flow Less discontinued operations free cash flow (including tax) Free cash flow from continuing operations 37 Centrica plc Preliminary Results 2021 2020¹ 260 (29) (50) 35 241 193 37 687 401 (2) (25) 1,061 (376) 685 2021 170 16 22 3 206 835 62 1,314 2,597 (140) (9) 3,762 (2,588) 1,174 A (35%) Nm Nm (91%) (15%) 333% 68% 91% 548% 6,900% (64%) 255% 588% 71% centrica A reconciliation of free cash flow is provided in the Group Financial Review in the Preliminary Results announcement. 1. 2020 restated to reflect the new operating structure of the Group.#38Upstream - Exploration & Production E&P Year ended 31 December (£m) Gas and liquids realisations Adjusted operating profit Free cash flow 1 Achieved gas sales price (p/therm) 2020 2021 36.8 71.8 2020¹ 1,297 107 170 2021 1,737 701 786 Achieved liquids sales price (£/boe) 2020 A 34% 555% 362% 2021 34.2 43.7 Upstream production (mmboe) 2020 2021 Spirit Energy 2020 2021 13.2 centrica 15.8 36.8 CSL Lifting & other cash production costs (£/boe) 44.9 2.9 17.7 1. Segmental free cash flow, as per note 5(f) of the Preliminary Results announcement, excludes tax. The above adjusted figures are before exceptional items and certain re-measurements. A reconciliation of adjusted operating profit and free cash flow is provided in the Group Financial Review and other adjusted performance measures are explained on pages 84 to 87 in the Preliminary Results announcement. 38 Centrica plc Preliminary Results 2021 3.9 17.8#39Spirit Energy - P&L and KPIs KPIs Production Gas (mmboe) Production Oil (mmboe) Achieved gas price (p/th) Achieved liquids price (£/boe) Gas and liquids realisations (£m) L&OPC (£/boe) DDA (£/boe) Operating profit Net operating profit after tax NOPAT after minority interest 39 Centrica plc Preliminary Results 2021 2020 vs 2021 2021 23.7 13.1 70.3 43.7 2020 27.9 17.0 35.4 34.2 1,194 13.2 11.3 84 116 91 1,603 15.8 12.2 624 174 104 A (4.2) (3.9) 34.9 10.5 409 2.6 0.9 540 58 13 Retained 15.8 2.1 53.8 41.0 595 20.2 12.6 68 54 29 2021 Disposed 7.9 11.1 100.7 44.3 1,008 11.7 11.8 556 120 75 Total 23.7 13.1 70.3 43.7 1,603 15.8 12.2 624 174 104 centrica#40Illustrative Spirit Energy disposal businesses cash flow phasing Disposal cash flows £m Operating profit Hedges Add: non-cash costs EBITDA Cash tax Capex Other cash flows Disposal proceeds Free cash flow Dividend to Spirit minority shareholders Cash flow related to period from 01/01/21 2021 647 (91) 247 803 (53) (202) 23 37 608 608 2022 (106) (106) (298) 473 69 (251) (182) Disposal proceeds are subject to customary adjustments. Table excludes contingent possible consideration, which based on 31 December 2021 commodity prices would total £47m. 40 Centrica plc Preliminary Results 2021 Total 647 (197) 247 697 (351) (202) 23 510 678 (251) 427 ● ● ● centrica Table illustrative of 1 January 2022 completion date Actual completion expected in Q2 2022 Final disposal proceeds will be adjusted for cash flows generated in 2022 - Neutral impact on FCF#41Upstream - Nuclear NUCLEAR Year ended 31 December (£m) Adjusted operating profit (£m) Nuclear power generated (GWh) Achieved power price (£/MWh) Achieved power price (£/MWh) 2020 2021 51.3 46.6 2020 (17) 9,134 51.3 2021 (38) 8,342 46.6 A 124% Power generated Total (GWh) 2020 (9%) (9%) 2021 9,134 8,342 The above adjusted figures are before exceptional items and certain re-measurements. Adjusted operating profit includes share of joint ventures and associates after interest and taxation. A reconciliation of adjusted operating profit is provided in the Group Financial Review in the Preliminary Results announcement. 41 Centrica plc Preliminary Results 2021 centrica#42Market commodity prices Average Brent oil prices ($/bbl) $42 2020 $71 $91 $82 2021 2022 2023 as at as at 23 Feb 22 23 Feb 22 Average UK NBP gas prices (p/th) 25p 2020 114p 195p 2021 2022 146p 2023 as at as at 23 Feb 22 23 Feb 22 Average UK baseload power prices (£/MWh) £37 2020 £129 2021 £184 centrica £143 2022 2023 as at as at 23 Feb 22 23 Feb 22 2020 and 2021 prices are month ahead outturn. 2022 prices are January and February month ahead outturn and forward prices on 23 February 2022 for the balance of year. 2023 prices are the average of forward prices. 42 Centrica plc Preliminary Results 2021#43UK weather chart vs seasonal norms 25 20 15 10 5 -5 Jan Feb 43 Centrica plc Preliminary Results 2021 Mar Apr May Jun Jul Aug Sep Oct Nov Dec centrica#44CDP and TCFD CDP DISCLOSURE INSIGHT ACTION TCFD 44 Centrica plc Preliminary Results 2021 • CDP is a global non-profit that drives companies and governments to reduce their greenhouse gas emissions, safeguard water resources and protect forests. It was voted the number one climate research provider by investors. • CDP's annual environmental disclosure and scoring process is widely recognised as the gold standard of corporate environmental transparency, working with over 500 institutional investors with assets of US$96 trillion. Centrica is in the prestigious leadership category with an A- rating in the Climate Change Submission. ● ● centrica This rating puts us in the top 5% of the over 13,000 companies (making up over 64% of global market cap) who disclosed under Climate in 2021. Centrica is amongst the top 45 globally within our sector. - TASK FORCE ON CLIMATE-RELATED FINANCIAL DISCLOSURES • The 'Taskforce on Climate-related Financial Disclosures' is an organisation with the goal of developing a set of climate-related financial risk disclosures which can inform investors and other stakeholders about the risks companies face related to climate change. • We became signatories of the Task Force on Climate-related Financial Disclosures (TCFD) in Jan 2020, and are planning to publish a fully compliant disclosure in the 2022 Annual Report and Accounts. • We are committed to progressively aligning with the recommendations and continuously improving our disclosure.