Invinity Energy Systems Plc · LSE:IES

Invinity Energy Systems — FY2024 Earnings Presentation

18 slides from Invinity Energy Systems's earnings presentation, May 2025

1. Slide 1: FY 2024 Results

   INVINITY ENERGY SYSTEMS FY 2024 RESULTS MAY 2025

2. Slide 2: Highlights

   Highlights Discharged Energy Increased deal size ENDURIUM Cost reductions >5.4GWh +315% 2025 YTD vs 2024 -24% in 2025 From Invinity Batteries since 2022 YTD 2024 Revenue EBITDA Total cash & £5.0 million +20% YoY investments £35.4 million First ENDURIUM £18.0 million EBITDA revenues loss 2

3. Slide 3: FY24 Financial Results

   FY24 Financial Results Highlights P&L (£ in millions) 2024 2023 % change  Transition year from VS3 to Endurium: -77% YoY revenues Revenue and Grant Income 5.0 22.0 (77) including first Endurium sales from La Plana Gross Profit (Loss) (3.5) (3.3) 5 Employee costs (12.9) (12.8) 1  Gross loss increas

4. Slide 4: FY24 Balance Sheet

   FY24 Balance Sheet Highlights 2024 Balance Sheet: £’000 2024 2023  Investing for LoDES reflected in increased Total Inventory 5,753 3,288 inventory. This is being converted into cash as we Pre-paid Inventory 2,469 1,073 draw down on cash from the grant. Total Inventory and Pre-paid Inventory 8,222

5. Slide 5: Cost Down Progress

   Cost Down Progress  24% cost reduction achieved on ENDURIUM since ENDURIUM Cost Roadmap: Aug 2024 vs May 2025 launch (Dec 2024), driven by:  Product optimisation  Value engineering  Supply chain development  Process enhancements  Ahead of our own expectations and on track to meet incremental p

6. Slide 6: ENDURIUM Operation

   ENDURIUM Operation  V-iOn Project at La Plana, Spain  Owned and operated by Gamesa Electric  Co-located Wind, Solar, Battery test and validation facility  Shipped to site December 2024  1.2 MWh ENDURIUM system 6

7. Slide 7: Commercial Progress

   Commercial Progress 2025 2026 2027+ Multiple large-scale GW-Scale LDES 46.8 projects in negotiation: procurement schemes: MWh Projects for delivery*  USA, including  UK: LDES Cap & Floor  DOE LDES program  USA:  Next CEC solicitations  NYSERDA  Europe  CEC  UK  Canada:  Asia, notably Taiw

8. Slide 8: Global LDES Procurement Programmes

   Global LDES Procurement Programmes Expected Non- Size Award COD Programme Li? Characteristics UK 7.7 GW 2026 2029 – Ofgem 2030 BC Call for Power 600 MW Cap and Floor California 1.0 GW 2026 2028 – CEC / CPUC 2031 LDES New York 1.0 GW 2026 2028 – NYSERDA 2030 ISCRFP-1 Ontario 1.6 GW 2026 2028 – IESO 2

9. Slide 9: Near-Term LDES Programmes: U.S. & Canada

   Near-Term LDES Programmes: U.S. & Canada NYSERDA Bulk Energy Storage Program BC Hydro 2025 Energy & Storage Procurements NYSERDA is conducting the first of at least 3 annual British Columbia integrated utility BC Hydro has solicitations which will pay suppliers through an opened parallel solicitatio

10. Slide 10: Customer Testimonials – Gamesa Electric

    Customer Testimonials – Gamesa Electric “Gamesa Electric believes the vanadium redox flow battery will be a key technology in order to achieve global decarbonisation goals, and this [ENDURIUM] vanadium flow battery is the necessary utility-scale link for vanadium batteries to become part of this ene

11. Slide 11: Customer Testimonials – Elemental Energy

    Customer Testimonials – Elemental Energy “Invinity’s energy storage systems take a good thing and makes it better. And that’s what we’re trying to do with renewable energy, take a good thing and make it better. Renewables often take heat for being intermittent, and batteries help. They’re going to e

12. Slide 12: Customer Testimonials – Everdura Technology Co

    Customer Testimonials – Everdura Technology Co “Everdura will continue to partner with Invinity to drive advancements in energy storage technology. We see several major advantages to Invinity’s energy storage system - their vanadium flow batteries adopt a modular design allowing most processes to be

13. Slide 13: Customer Testimonials – Indian Energy

    Customer Testimonials – Indian Energy “I’ve been tracking on Invinity’s advanced battery storage technology for a few years, but once I met Invinity’s leadership team I truly understood why Invinity’s technology is superior to other energy storage solutions. “Invinity is dedicated to its customers i

14. Slide 14: Outlook

    Outlook  Transformational period for LDES – underlined by shift in rhetoric across global markets  Invinity are playing a key role as part of “a new generation of storage technologies”  ENDURIUM continues to progress along development and cost-down roadmap  Iterative development will improve cos

15. Slide 15: Q&A

    INVINITY NERGY SYSTEMS Q&A

16. Slide 16: Appendix

    2 o © ® Q Q <x ENERGY SYSTEMS

17. Slide 17: 2024 Profit and Loss Statement

    2024 Profit and Loss Statement 2024 Profit and Loss: £’000 2024 2023 Revenue 5,015 22,006 Grant Income against Direct Costs - 11 Total Revenue and Grant Income 5,015 22,017 Direct Costs (excluding Grant Income) (8,528) (25,361) Gross Loss (3,513) (3,344) Staff costs 12,866 12,750 R&D costs 2,421 1,8

18. Slide 18: Get More

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