Last month, world leaders met in Belém, Brazil, at the UN’s COP30 summit to share their plans to implement solutions to address climate change.

LONDON (December 11, 2024) - Technip Energies (PARIS:TE), leader of a consortium with GE Vernova and construction partner Balfour Beatty – with the support of technology partner Shell Catalysts & Technologies – received Notice to Proceed by NZT Power Limited to execute a major(1) contract for the Net Zero Teesside Power (NZT Power) project in the United Kingdom.

NZT Power has reached financial close and has issued a Full Notice to Proceed to the Technip Energies-led consortium to start the full Engineering Procurement and Construction (EPC) package for the Onshore Power, Capture and Compression contract. Financial close follows the UK government’s recent announcement of a £21.7 billion pledge for projects to capture and store carbon emissions from energy, industry and hydrogen production.

This landmark project aims to be the world’s first gas-fired power station with carbon capture and storage. Up to 2 million tonnes of CO₂ per year will be captured at the plant and transported and permanently stored by the Northern Endurance Partnership. The plant could produce up to 742 megawatts of flexible, low-carbon power, equivalent to the average annual electricity requirements of more than 1 million UK homes, further supporting the UK's transition to a cleaner energy future.

Supported by the UK government, NZT Power could create and support more than 3,000 construction jobs and then generate 1,000 jobs annually during operations. This initiative is expected to attract private investment and help the UK to meet its climate goals and is aligned with the UK plan to reduce carbon emissions to net zero by 2050.

Technip Energies and GE Vernova, with the support of infrastructure group Balfour Beatty, plan to deliver a highly efficient combined cycle plant and associated carbon capture plant. Technip Energies will lead the integration of a state-of-the-art carbon capture plant using its Canopy by T.EN^TM solution, powered by Shell’s CANSOLV* CO₂ Capture System. The plant will be powered by GE Vernova's advanced 9HA.02 gas turbine, a steam turbine, a generator, a Heat Recovery Steam Generator, an Exhaust Gas Recirculation (EGR) system and benefit from GE Vernova’s maintenance service contract for 16 years.

Balfour Beatty, supported by Shell Catalysts & Technologies, together form the Carbon Capture Alliance (CCA). Alliance members are deeply committed to long-term investment in the UK and already possess a significant local footprint and supply chain.

Arnaud Pieton, CEO of Technip Energies, commented, “We are excited to partner with GE Vernova and Balfour Beatty on the first-of-its kind Net Zero Teesside Power project. This award confirms Technip Energies’ leading position as a provider of state-of-the-art integrated CCUS solutions. I would like to thank Net Zero Teesside Power for their trust. This groundbreaking project represents a significant milestone in our collective efforts to advance carbon capture technology at scale and support the UK’s ambitious climate goals through low carbon power generation from gas combined with renewables. By leveraging our Canopy by T.EN™ solution powered by Shell’s CANSOLV CO2 Capture System, we aim to set a new standard for low-carbon power generation. This project not only underscores our commitment to innovation and sustainability but also highlights the critical role of collaboration in driving the energy transition forward.”

Maví Zingoni, CEO, Power at GE Vernova commented : “We believe CCUS technology can be crucial to help decarbonize the planet, and we welcome the commitment from the UK government to invest in its implementation as well as NZT Power’s trust in our technology. Flagship projects like Net Zero Teesside Power can give the industry foundations to grow. We look forward to powering the station with our advanced H-Class combined cycle technology, as well as proceeding with the first commercial use of our Exhaust Gas Recirculation system and integration technologies, which aim to support carbon abatement by boosting the efficiency and performance of carbon capture.”

Leo Quinn, CEO of Balfour Beatty Group, said: “Net Zero Teesside is a transformational project, underpinning the UK’s transition to cleaner and greener energy consumption and driving regional economic growth in Northeast England. Today’s announcement takes us one step closer to realising this ambitious scheme, which will demonstrate collaboration at its finest and see us unite our unique strengths together with Technip Energies’ world-leading engineering and technology integration skills, Shell's state-of-the-art CANSOLV* CO₂ Capture technology and GE Vernova’s unparalleled power generation knowledge."

Elise H. Nowee, President of Shell Catalysts & Technologies, said: “Being selected as the carbon capture technology provider for Net Zero Teesside Power reflects the proven capabilities of Shell’s CANSOLV* CO₂ technology in delivering substantial, reliable emissions reductions at scale. This project also highlights the strength of our alliance with Technip Energies, which combines Shell Catalysts & Technologies’ expertise in technology licensing with Technip Energies’ excellence in project integration and delivery. Together, we are addressing the growing demand for scalable post-combustion carbon capture solutions. With the potential to capture up to 2 million tonnes of CO₂ annually, Net Zero Teesside Power marks a critical milestone in the UK’s journey toward net zero.”

(1) A “major” award for Technip Energies is a contract award representing above €1 billion of revenue. The award will be included in backlog in Q4 2024.

*CANSOLV is a Shell trademark.

About Technip Energies

Technip Energies is a global technology and engineering powerhouse. With leadership positions in LNG, hydrogen, ethylene, sustainable chemistry, and CO₂ management, we are contributing to the development of critical markets such as energy, energy derivatives, decarbonization, and circularity. Our complementary business segments, Technology, Products and Services (TPS) and Project Delivery, turn innovation into scalable and industrial reality. Through collaboration and excellence in execution, our 17,000+ employees across 34 countries are fully committed to bridging prosperity with sustainability for a world designed to last. Technip Energies generated revenues of €6 billion in 2023 and is listed on Euronext Paris. The Company also has American Depositary Receipts trading over the counter. For further information: www.ten.com

About GE Vernova
GE Vernova is a planned, purpose-built global energy company that includes Power, Wind, and Electrification businesses and is supported by its accelerator businesses of Advanced Research, Consulting Services, and Financial Services. Building on over 130 years of experience tackling the world’s challenges, GE Vernova is uniquely positioned to help lead the energy transition by continuing to electrify the world while simultaneously working to decarbonize it. GE Vernova helps customers power economies and deliver electricity that is vital to health, safety, security, and improved quality of life. GE Vernova is headquartered in Cambridge, Massachusetts, U.S., with more than 75,000 employees across 100+ countries around the world. GE Vernova’s Gas Power business engineers advanced, efficient natural gas-powered technologies and services, along with decarbonization solutions that aim to help electrify a lower carbon future.

In the UK, the company runs the only large-scale grid manufacturing facility, as well as numerous other major manufacturing sites. GE Vernova already helps to generate more than 30% of the UK’s electricity through its equipment. Its nuclear business, GE Hitachi, is one of the finalists in the Great British Nuclear competition.

About Balfour Beatty

Balfour Beatty is a leading international infrastructure group with over 25,000 employees driving the delivery of powerful new solutions, shaping thinking, creating skylines and inspiring a new generation of talent to be the change-makers of tomorrow.

We finance, develop, build, maintain and operate the increasingly complex and critical infrastructure that supports national economies and deliver projects at the heart of local communities.

Over the last 114 years we have created iconic buildings and infrastructure all over the world. Currently, we are working to deliver Hinkley Point C, the first UK nuclear power station in a generation; constructing the world-class arts and cultural facility, the Lyric Theatre, in Hong Kong; and designing, building, financing, operating and maintaining the Automated People Mover superstructure at the fifth busiest airport in the world, Los Angeles International Airport.

Contacts

Technip Energies

Investor Relations                                         Media Relations

Phillip Lindsay                                                   Jason Hyonne

Vice-President Investor Relations                     Press Relations & Social Media Manager

Tel: +44 207 585 5051                                       Tel: +33 1 47 78 22 89

Email: Phillip Lindsay                                         Email: Jason Hyonne

Balfour Beatty

Antonia Walton 

+44 (0)203 810 2345

[email protected]

Teesside, the urban region perched on the muddy banks of the River Tees in northeast England, used to be a global beacon of industry. In the mid-19th century, the port of Middlesbrough forged its reputation as “Ironopolis,” boasting nearly 100 blast furnaces that roared away round the clock.

ATLANTA, GA (October 15, 2024) - GE Vernova Inc (NYSE: GEV) today announced the U.S. Department of Energy’s (DOE) Office of Fossil Energy and Carbon Management released the official findings of the GE Vernova-led front-end engineering design (FEED) study, “Retrofittable Advanced Combined-Cycle Integration for Flexible Decarbonized Generation.”

The study evaluated retrofitting Southern Company subsidiary Alabama Power’s James M. Barry Electric Generating Plant, located in Bucks, Alabama, with technology capable of capturing up to 95% of the plant’s CO₂ emissions. It demonstrated that the integration of GE Vernova’s Exhaust Gas Recirculation (EGR) system could lead to a reduction of more than 6% of the total cost of the carbon capture facility, as compared to installing carbon capture without the EGR system.

The GE Vernova-led study was completed in collaboration with Southern Company, Linde, BASF, and Kiewit, and explored the benefits of close integration between a natural gas combined-cycle (NGCC) plant and a carbon capture system.

GE Vernova’s measures and technologies explored in the study included the use of NGCC steam in the carbon capture system facility, potential gas turbine upgrades, installing NGCC and carbon capture control systems, and employing GE Vernova’s EGR system, which reintroduces part of the exhaust gas back into the gas turbine inlet.

The study’s integrated approach helped reduce the size and costs of the carbon capture system by halving the number of absorber towers, improving the efficiency and flexibility of the plant, and potentially increasing its power output.

“GE Vernova is grateful for the Department of Energy’s support of this study, the first of its kind to explore EGR technology applied in a gas power carbon capture plant” said Jeremee Wetherby, GE Vernova Carbon Solutions Leader. “We developed a holistic approach considering various integration measures building on our long history and expertise in power plant engineering, operation, upgrades and controls. Carbon capture is a crucial pathway to lowering carbon emissions from power generation to near-zero levels, and we are pleased with the benefits projected by the study – which naturally can vary from site to site but represent a valuable indicator of the possibilities at similar sites.”

The study demonstrated that the effects of adding a carbon capture system to an NGCC power plant could be reduced through a series of integration measures, including the EGR system. GE Vernova has developed EGR systems for two decades, initially for nitrogen oxide (NO_x) control and part-load efficiency benefits. In addition to this study, GE Vernova has demonstrated the commercial readiness of F- and H-class combustors operating with EGR at GE Vernova’s test facility in Greenville, South Carolina.

This study recognized the potential of an EGR system to deliver the following benefits as compared to a non-EGR system:

• Large reduction of carbon capture facility footprint and cost of absorber
• Lower operating costs due to reduced amine degradation
• Less energy-intensive separation due to higher concentration of CO₂ in flue gas directed to the carbon capture system
• More steam turbine power output because of lower steam consumption

The collaboration with Southern Company, Linde, BASF, and Kiewit was crucial for the success of this study, which showed that GE Vernova’s integration techniques can help reduce plant capital costs, energy consumption, and operating expenses.

“Southern Company is pleased this desktop engineering study showed that applying carbon capture for natural gas combined-cycle generation may create options and long-term value for customers in a net-zero future,” said Dr. Mark S. Berry, Southern Company Senior Vice President of Research, Environment And Sustainability. “We congratulate GE and the other members of the FEED study team for employing unique technology approaches that could advance the future deployment of carbon capture as a clean energy solution for the customer and communities we serve.”

"As a provider of CO₂ capture technology, we commend DOE's leadership in advancing gas power decarbonization technology towards a clean and reliable energy future. The results of this FEED study underpin Linde’s belief that a collaborative approach between technology providers, end-users, and other stakeholders is essential in driving innovation and cost reduction in CO₂ capture. We are committed to working with DOE and other partners to help decarbonize industry,” said Dominic Cianchetti, Senior Vice President, Region Americas, Linde.

“Kiewit Engineering Group’s participation in the GE Vernova-led study underscores our dedication to advancing innovative solutions for carbon capture technology. By leveraging our engineering and construction expertise, we contributed to the integration of the Exhaust Gas Recirculation (EGR) system, achieving significant cost reductions and efficiency improvements. This study highlights the potential for retrofitting existing power plants to meet stringent carbon emission standards, a vital step towards sustainable energy,” Kevin Needham, President-Power Engineering, Kiewit Engineering Group Inc.

With the goals of improving affordability, reliability, load flexibility, and significantly reducing carbon emissions, GE Vernova’s NGCC and carbon capture integration techniques can be applied across more than 1,600 F-Class gas turbines worldwide, delivering approximately 300 gigawatts (GW) of electricity daily.

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Notes to editors

© 2024 GE Vernova and/or its affiliates. All rights reserved.
GE and the GE Monogram are trademarks of General Electric Company used under trademark license.

Acknowledgment: "This material is based upon work supported by the Department of Energy under Award Number DE-FE0032131."

Disclaimer: "This report was prepared as an account of work sponsored by an agency of the United States Government. Neither the United States Government nor any agency thereof, nor any of their employees, makes any warranty, express or implied, or assumes any legal liability or responsibility for the accuracy, completeness, or usefulness of any information, apparatus, product, or process disclosed, or represents that its use would not infringe privately owned rights. Reference herein to any specific commercial product, process, or service by trade name, trademark, manufacturer, or otherwise does not necessarily constitute or imply its endorsement, recommendation, or favoring by the United States Government or any agency thereof. The views and opinions of authors expressed herein do not necessarily state or reflect those of the United States Government or any agency thereof."

Forward Looking Statements:

This document contains forward-looking statements – that is, statements related to future events that by their nature address matters that are, to different degrees, uncertain. These forward-looking statements often address GE Vernova’s expected future business and financial performance and financial condition, and the expected performance of its products, the impact of its services and the results they may generate or produce, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “estimate,” “forecast,” “target,” “preliminary,” or “range.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about planned and potential transactions, investments or projects and their expected results and the impacts of macroeconomic and market conditions and volatility on the Company’s business operations, financial results and financial position and on the global supply chain and world economy.

About GE Vernova:

GE Vernova (NYSE: GEV) is purpose-built global energy company that includes Power, Wind, and Electrification segments and is supported by its accelerator businesses. Building on over 130 years of experience tackling the world’s challenges, GE Vernova is uniquely positioned to help lead the energy transition by continuing to electrify the world while simultaneously working to decarbonize it. GE Vernova helps customers power economies and deliver electricity that is vital to health, safety, security, and improved quality of life. GE Vernova is headquartered in Cambridge, Massachusetts, U.S., with more than 75,000 employees across 100+ countries around the world. Supported by the Company’s purpose, The Energy to Change the World, GE Vernova technology helps deliver a more affordable, reliable, sustainable, and secure energy future. GE Vernova’s Gas Power business engineers advanced, efficient natural gas-powered technologies and services, along with decarbonization solutions that aim to help electrify a lower carbon future. It is a global leader in gas turbines and gas power plant technologies and services with the industry’s largest installed base of approximately 7,000 gas turbines.

GE Vernova’s mission is embedded in its name – it retains its legacy, “GE,” as an enduring and hard-earned badge of quality and ingenuity. “Ver” / “verde” signal Earth’s verdant and lush ecosystems. “Nova,” from the Latin “novus,” nods to a new, innovative era of lower carbon energy. Learn more: GE Vernova and LinkedIn.

About Southern Company

Southern Company (NYSE: SO) is a leading energy provider serving 9 million customers across the Southeast and beyond through its family of companies. Providing clean, safe, reliable and affordable energy with excellent service is our mission. The company has electric operating companies in three states, natural gas distribution companies in four states, a competitive generation company, a leading distributed energy company with national capabilities, a fiber optics network and telecommunications services. Through an industry-leading commitment to innovation, resilience and sustainability, we are taking action to meet customers’ and communities’ needs while advancing our goal of net zero greenhouse gas emissions by 2050. Our uncompromising values ensure we put the needs of those we serve at the center of everything we do and are the key to our sustained success. We are transforming energy into economic, environmental and social progress for tomorrow. Our corporate culture and hiring practices have earned the company national awards and recognition from numerous organizations, including Forbes, The Military Times, DiversityInc, Black Enterprise, J.D. Power, Fortune, Human Rights Campaign and more. To learn more, visit southerncompany.com.

About Linde
Linde is a leading global industrial gases and engineering company with 2021 sales of $31 billion (€26 billion). We live our mission of making our world more productive every day by providing high-quality solutions, technologies and services which are making our customers more successful and helping to sustain and protect our planet. The company serves a variety of end markets including chemicals & energy, food & beverage, electronics, healthcare, manufacturing, metals and mining. Linde’s industrial gases are used in countless applications, from life-saving oxygen for hospitals to high-purity & specialty gases for electronics manufacturing, hydrogen for clean fuels and much more. Linde also delivers state-of-the-art gas processing solutions to support customer expansion, efficiency improvements and emissions reductions. 
For more information about the company and its products and services, please visit www.linde.com

About BASF 
With more than 50 years of experience, BASF offers its customers efficient gas treating solutions for a variety of applications such as natural gas, synthesis gas, and biogas. Worldwide, these solutions have been proven and demonstrated in about 500 reference plants. BASF markets its range of gas treating technologies, the corresponding solvents and complete technical services including the digital platform OASE connect under the brand OASE® – Gas Treating Excellence by BASF. 
For more information please visit: www.oase.basf.com

About Kiewit
Kiewit is one of North America’s largest and most respected construction and engineering organizations. With its roots dating back to 1884, the employee-owned organization operates through a network of subsidiaries in the United States, Canada and Mexico. Kiewit offers construction and engineering services in a variety of markets including transportation; oil, gas and chemical; power; building; water/wastewater; industrial; mining; and marine. Kiewit had 2023 revenues of $17.1 billion and employs 31,100 staff and craft employees.
For more information please visit: www.kiewit.com

Nobody disputes the role that natural gas power plants play in electrifying the planet. A typical plant can reliably generate hundreds of megawatts (MW) of electricity within a few minutes of turbine ignition, keeping the lights on in hundreds of thousands of households.

With net zero deadlines inching closer, the United Kingdom is in a race to ensure it has the capacity to generate enough electricity to keep the lights on throughout the country — while meeting its own legally binding mandates for carbon reductions.

• Net-Zero Teesside (NZT) Power is expected to be one of the first gas-fired power stations of its kind - fully integrated with carbon capture technology.
• Consortium and technology selection marks an important next step towards the proposed development of bp’s NZT Power project in the UK, aiming to capture up to 2 million tonnes of CO2 per year.
• Project is expected to provide flexible, dispatchable low-carbon power equivalent to the average electricity requirements of around 1.3 million UK homes, and to progress the deployment of carbon capture technology in line with the UK Government’s net-zero programme.

Technip Energies (PARIS: TE), leader of a consortium with GE Vernova, and construction partner, Balfour Beatty, received a Letter of Intent from bp, on behalf of NZT Power Limited for the execution phase of the Net Zero Teesside Power (NZT Power) in the United Kingdom.

This landmark project is poised to become one of the world’s first commercial scale gas-fired power stations with carbon capture, expected to capture up to 2 million tonnes of CO2 per year. The project is set to provide flexible, dispatchable low-carbon power equivalent to the average electricity requirements of around 1.3 million UK homes, further supporting the nation's transition to a cleaner energy future.

The NZT Power project is also a key component of the Carbon Capture, Usage and Storage (CCUS) East Coast Cluster and has been shortlisted for government funding support as part of the UK's net-zero programme. This selection follows the Development Consent Order recently having been granted by the Secretary of State for the Department for Energy Security and Net Zero.

The Technip Energies and GE Vernova consortium, supported by leading infrastructure group Balfour Beatty, will play an important role constructing a highly efficient combined cycle plant. It will be powered by an advanced GE Vernova 9HA.02 gas turbine, a steam turbine, a generator and a Heat Recovery Steam Generator (HRSG), which will integrate with a state-of-the-art carbon capture plant using Technip Energies’ Canopy by T.ENTM solution powered by the Shell CANSOLV® CO2 capture technology.

Technip Energies, GE Vernova, and Balfour Beatty, supported by Shell in the UK are forming the Carbon Capture Alliance (CCA). The alliance members are deeply committed to long-term investment in the UK, with members already possessing a significant UK footprint and a mature UK supply chain.

In March 2023, the UK government announced up to £20 billion to support the initial deployment of CCUS, focused on creating four clusters by 2030, including the East Coast cluster which includes Teesside. Government analysis shows that up to 10 gigawatts of power CCUS could be needed in order to decarbonise the UK power sector by 2035 (10GW is around 10% of the total UK electricity system today).

Arnaud Pieton, CEO of Technip Energies, commented, “Our selection for the Net Zero Teesside Power project is a testament to Technip Energies growing leadership position as an integrated state-of-the-art CCUS solutions provider. By capturing up to 2 million tonnes of CO2 at a large power plant, we collectively rise to the challenge of scale by providing sustainable and available energy at a large scale. With our partners GE Vernova and Balfour Beatty, we are honoured to contribute to this flagship project that supports bp and the UK in their goal of developing one of the first decarbonised industrial clusters in the world.”

Maví Zingoni, CEO, Power at GE Vernova, commented: “The development of Net Zero Teesside Power, one of the world’s first commercial scale gas-fired power stations with carbon capture, marks a huge step towards supporting the UK government’s commitment to fully decarbonise its power system by 2035. GE Vernova will help bring proven expertise in natural gas combined cycle plant engineering, operability, and full-scale integration to support carbon abatement for this project. We believe post-combustion carbon capture can play a crucial role in reducing emissions and ensuring dispatchable power in the future.”

Leo Quinn, CEO of Balfour Beatty Group, said: “Today’s announcement takes us a step closer to realising one of the world’s first commercial scale gas-fired power stations with carbon capture . It’s a significant milestone in delivering the critical infrastructure needed to transition the UK to Net Zero. Balfour Beatty’s market leading capabilities, underpinned by our unrivalled experience and proven track record in delivering complex infrastructure projects, means we are perfectly positioned to support the delivery of this critical project alongside Technip Energies and GE Vernova – proving on the world-stage that the UK is primed and ready to lead the way in decarbonising our industrial footprint.”

###

About Technip Energies 
Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.

Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.

Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”). For further information: www.ten.com.

About GE Vernova
GE Vernova is a planned, purpose-built global energy company that includes Power, Wind, and Electrification businesses and is supported by its accelerator businesses of Advanced Research, Consulting Services, and Financial Services. Building on over 130 years of experience tackling the world’s challenges, GE Vernova is uniquely positioned to help lead the energy transition by continuing to electrify the world while simultaneously working to decarbonize it. GE Vernova helps customers power economies and deliver electricity that is vital to health, safety, security, and improved quality of life. GE Vernova is headquartered in Cambridge, Massachusetts, U.S., with more than 80,000 employees across 100+ countries around the world. GE Vernova’s Gas Power business engineers advanced, efficient natural gas-powered technologies and services, along with decarbonization solutions that aim to help electrify a lower carbon future.

GE Vernova’s mission is embedded in its name – it retains its legacy, “GE,” as an enduring and hard-earned badge of quality and ingenuity. “Ver” / “verde” signal Earth’s verdant and lush ecosystems. “Nova,” from the Latin “novus,” nods to a new, innovative era of lower carbon energy. Supported by the Company Purpose, The Energy to Change the World, GE Vernova will help deliver a more affordable, reliable, sustainable, and secure energy future. Learn more: GE Vernova and LinkedIn.

About Balfour Beatty 
Balfour Beatty is a leading international infrastructure group with over 25,000 employees driving the delivery of powerful new solutions, shaping thinking, creating skylines and inspiring a new generation of talent to be the change-makers of tomorrow.

We finance, develop, build, maintain and operate the increasingly complex and critical infrastructure that supports national economies and deliver projects at the heart of local communities.

Over the last 114 years we have created iconic buildings and infrastructure all over the world. Currently, we are working to deliver Hinkley Point C, the first UK nuclear power station in a generation; constructing the world-class arts and cultural facility, the Lyric Theatre, in Hong Kong; and designing, building, financing, operating and maintaining the Automated People Mover superstructure at the fifth busiest airport in the world, Los Angeles International Airport.

Important Information for Investors and Securityholders

Forward-Looking Statement

This Press Release contains forward-looking statements that reflect Technip Energies’ (the “Company”) intentions, beliefs or current expectations and projections about the Company's future results of operations, anticipated revenues, earnings, cashflows, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which the Company operates. Forward-looking statements are often identified by the words “believe”, “expect”, “anticipate”, “plan”, “intend”, “foresee”, “should”, “would”, “could”, “may”, “estimate”, “outlook”, and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on the Company’s current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on the Company. While the Company believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting the Company will be those that the Company anticipates.

All of the Company’s forward-looking statements involve risks and uncertainties, some of which are significant or beyond the Company’s control, and assumptions that could cause actual results to differ materially from the Company’s historical experience and the Company’s present expectations or projections. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements.

For information regarding known material factors that could cause actual results to differ from projected results, please see the Company’s risk factors set forth in the Company’s 2022 Annual Financial report filed on March 10, 2023, with the Dutch Authority for the Financial Markets (AFM) and the French Autorité des Marchés Financiers which include a discussion of factors that could affect the Company's future performance and the markets in which the Company operates. Please also see Section 1.3 (Principal Risks and Uncertainties) of the Company's 2023 Half-Year Report which was filed with the AFM and the AMF on July 27, 2023.

Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. The Company undertakes no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law.