Lemon Sistemi S.p.a. · MIL:LS
Lemon Sistemi — Next Gems 2026
27 slides from Lemon Sistemi's conference presentation, Oct 20, 2026
Slide 1: Next Gems 2026
NEXT GEMS 2026 Milan, October 20th, 2026 Sciacca (AG) - 312 kWp SunPower photovoltaic system
Slide 2: Key Management
KEY MANAGEMENT Maria Laura Spagnolo Danilo Palazzolo Enrico Rizzo Chairman of BoD and co-CEO CFO co-CEO 2
Slide 3: Overview
OVERVIEW TAILOR-MADE RENEWABLE PLANT POSITIONING IN A STRATEGIC MARKET Design, supply and installation of photovoltaic, thermo- High potential market with many operators and high growth hydraulic and storage systems, as well as the design of possibilities solutions for energy efficiency, targeting B
Slide 4: Business Areas
BUSINESS AREAS 1. PHOTOVOLTAIC 2. PHOTOVOLTAIC PARKS 3. DEVELOPMENT OF BESS 4. ENERGY EFFICIENCY ▪ Design and construction of the ▪ BESS projects for self- ▪ Core business; plant with the aim of selling it; consumption and arbitrage for ▪ Design of energy efficiency ▪ Fully integrated business line
Slide 5: H1 2026: Updates & Financials
H1 2026: UPDATES & FINANCIALS Cinisi (PA) – 616 kWp SunPower 5 photovoltaic system
Slide 6: 2026 Updates
2026 UPDATES 9 5 11 27 10 APRIL MAY MAY MAY AUGUST Signed a contract Signed a contract for Signed a contract, Signed a MoU with Signed a contract with Alfa Graniti the construction of a following the award Huawei and with FC Marmi e S.r.l. for the photovoltaic plant of tender Enerklima for the Grani
Slide 7: Pipeline
PIPELINE As of 29 September 2026, the pipeline consists of 9 Photovoltaic Parks, at different stages of development, divided as follows: ▪ 6 Photovoltaic Parks (19.37 MW): ready-to-build status; ▪ 1 Photovoltaic Park (1.98 MW): should be classified as ‘ready to build’ by 31 December 2026; ▪ 2 Photov
Slide 8: H1 2026 Highlights
H1 2026 HIGHLIGHTS Lemon Sistemi recorded a marked acceleration in business activity and strong revenue growth compared with the first half of 2025. The approximately 63.7% increase in the value of production was the most significant feature of the Company’s performance during the period, reflecting
Slide 9: H1 2026 Financial Highlights
H1 2026 FINANCIAL HIGHLIGHTS VALUE OF EBITDA EBITDA PRODUCTION MARGIN € 6.7 M € 0.9 M 13% € 4.1 M in H1 2025 € 1.0 M in H1 2025 25.1% in H1 2025 NET NET NET RESULTS EQUITY DEBT € 0.3 M € 7.6 M € 2.8 M € 0.5 M in H1 2025 € 7.3 M in FY 2025 € 3.3 M in FY 2025 9
Slide 10: Value of Production
VALUE OF PRODUCTION VALUE OF PRODUCTION EVOLUTION (€/M) VoP BREAKDOWN 16.0 12% 11.9 35% 47% 9.1 9.3 H1 2026 H1 2025 6.7 36% 59% 1% 4% 1% 4% 1H 2024 FY 2022 FY 2023 FY 2024 FY 2025 H1 2026 Photovoltaic Photovoltaic Parks Energy efficiency Other BESS ▪ VoP has risen by 63.7%, reflecting the progress m
Slide 11: EBITDA
EBITDA EBITDA (€/M) ▪ Raw materials cost at € 3.0 mln (€ 0.6 mln at 30 June 4.0 2025): up in both absolute terms and as a share of VoP due to strong growth in execution activity, which requires more 2.8 materials and components than design and engineering-led work ▪ EBITDA at € 0.9 mln (€ 1.0 mln at
Slide 12: Net Financial Debt
NET FINANCIAL DEBT • Marked strengthening of liquidity. This trend benefits from increased operations and progress on the main contracts, resulting in higher collections, as well as from the collection, during the first half of 2026, of the payments relating to the photovoltaic systems built in Cons
Slide 13: Strategy
STRATEGY Cinisi (PA) – 616 kWp SunPower 13 photovoltaic system
Slide 14: Future Strategy
FUTURE STRATEGY COMMERCIAL DEVELOPMENT OF DEVELOPMENT INCREASE IN THE DEVELOPMENT PHOTOVOLTAIC PARKS OF STORAGE AVERAGE SIZE OF PLAN PLANTS (BESS) PV SYSTEMS (1MWp - 10MWp) 14
Slide 15: Commercial Development Plan
COMMERCIAL DEVELOPMENT PLAN The objective of the group is to implement a penetration strategy throughout the Italian territory, through agreements with Gas and Light Agencies throughout the national country. Increased Penetration of Scalability of the visibility and the Italian market project brand
Slide 16: Development of Photovoltaic Parks
DEVELOPMENT OF PHOTOVOLTAIC PARKS Direct development of Photovoltaic Parks with the aim of selling the system after construction, acquiring multi-year management and maintenance contracts with a minimum period of no less than 25 years. OBJECTIVES CRITICAL FACTORS Generation of stable cash flows over
Slide 17: Development of BESS
DEVELOPMENT OF BESS The strategy involves participation in commissioned projects relating to large storage plants with leading operators in the sector as well as BESS solutions dedicated to self-consumption and energy arbitrage applications. Have design Co-Develop and then contracts lasting sell pro
Slide 18: Increase in the Average Size of PV Systems (1MWp - 10MWp)
INCREASE IN THE AVERAGE SIZE OF PV SYSTEMS (1MWp - 10MWp) A further objective of the group is to increase the incidence of revenues linked to larger photovoltaic system projects: in particular, the group intends to continue to increase the incidence of revenues linked to the design, supply and insta
Slide 19: Investment Highlights
INVESTMENT HIGHLIGHTS SHORT TIME TO MARKET TAILOR-MADE RENEWABLE PLANT (3KWP-10MW) INTEGRATED SERVICE MANAGEMENT EXPERTISE MARKET GROWTH AND REFERENCE LEGISLATION PARTNERSHIPS WITH MAJOR MARKET NAMES 19
Slide 20: Appendix
20 APPENDIX Cinisi (PA) – 616 kWp SunPower photovoltaic system
Slide 21: History & Track Record
HISTOR & TRACK RECORD HISTORY Inauguration of the new corporate headquarters in Balestrate. For the first time, all corporate functions have been brought together under one roof Engineers Maria Laura Spagnolo and In December listed on Euronext with the aim of improving efficiency, Vincenzo Palazzolo
Slide 22: Governance and Shareholder Structure
GOVERNANCE AND SHAREHOLDER STRUCTURE BOARD OF DIRECTORS SHAREHO LDER STRUCTURE* Maria Laura Spagnolo 2,7% Chairman and co-CEO 3,9% PDH S.r.l.* 4,5% 2,7% Danilo Palazzolo Salah Al Nasser Maria Laura Spagnolo 4,5% co-CEO Board member Salvatore Spagnolo Miria Group (ex GWM Group) 43,5% Enasarco Energia
Slide 23: ESG
ESG ENVIRONMENTAL SOCIAL GOVERNANCE ▪ The installation of a photovoltaic ▪ The number of female figures ▪ Composition of the Board of system is foreseen within the present in the company is 18, Directors: 5 directors of which 2 renovation project of the future with important roles are independent he
Slide 24: Main Suppliers & Customers
MAIN SUPPLIERS & CUSTOMERS SUPPLIERS CUSTOMERS ▪ Commercial collaborations with the main suppliers on ▪ Lemon Sistemi proposes its design and technology offerings the national market; to both the residential and commercial markets. ▪ Premier Partner of Sunpower, a company universally ▪ Over the year
Slide 25: Income Statement
INCOME STATEMENT Consolidated data in €/000 Income Statement 30/06/2026 30/06/2025 Var% Revenues from sales 4,451 1,507 195.4% Works in progress on ordination 1,955 1,250 56.4% Increases in fixed assets for internal works - 1,150 n.a. Other income 274 174 57.5% Value of Production 6,680 4,081 63.7%
Slide 26: Balance Sheet
BALANCE SHEET Consolidated data in €/000 Balance Sheet 30/06/2026 31/12/2025 Var% Intangible fixed assets 529 655 -19.2% tangible fixed assets 2,261 2,186 3.4% Financial fixed assets 45 60 n.a Net fixed assets 2,835 2,901 -2.3% Inventories 10,067 8,039 25.2% Commercial credits 2,873 2,715 5.8% Comme
Slide 27: Contacts
Lemon Sistemi lemonsistemi.it investor.relations@lemosistemi.it CDR Communication Marika Martinciglio marika.martinciglio@cdr-communication.it