La Francaise De L'energie Sa · EURONEXT:FDE
La Francaise De L'energie Sa — Shareholder Meeting (December 2025)
48 slides from La Francaise De L'energie Sa's shareholder meeting presentation, Dec 5, 2025
Slide 1: Local Energy – Positive Impact
Local Energy – Positive Impact Annual Combined General Meeting December 5th 2025
Slide 2: Agenda
AGENDA MANAGEMENT PRESENTATION Introduction and FY25 main achievements – Julien Moulin, Chairman FY25 Results and Finance update – Aurélie Tan, Chief Financial Officer Operations and update on our strategic roadmap – Antoine Forcinal, Chief Operating Officer FDE and Investors relations – Julien Moul
Slide 3: A Major Actor in the Energy Transition
A MAJOR ACTOR IN THE ENERGY TRANSITION Code Reuters : LFDE. PA – Code Bloomberg : LFDE.FD
Slide 4: FDE: A Complete Set of Sustainable Energy Solutions
FDE: A COMPLETE SET OF SUSTAINABLE ENERGY SOLUTIONS A LEADING PLATFORM FOR LOW-CARBON ENERGIES IN EUROPE Using low-carbon Carbon capture and fuels (Biogas/RNG*, PROVIDING VARIOUS utilization/storage AMM**, Hydrogen) SOLUTIONS ELECTRICITY HEAT GAS HYDROGEN CO2 * Renewable Natural Gas ** Abandoned Min
Slide 5: FDE: A Diversified Production Base in Europe
FDE: A DIVERSIFIED PRODUCTION BASE IN EUROPE 22,5 MW ELECTRICITY installed cogenerations FRANCE, BELGIUM & BOSNIA + NORWAY UNDER DEVELOPPEMENT 65 MV installed PV NORWAY HEAT FRANCE 8 MW installed GAS (incl. RNG) c. 220 FRANCE GWH NORWAY UNDER DEVELOPEMENT gas annual BELGIUM production FRANCE HYDROGE
Slide 6: Fully Engaged in the Energy Transition
FULLY ENGAGED IN THE ENERGY TRANSITION THE KEY PILLARS TO OUR ESG APPROACH TAILORED-MADE ENERGY SOLUTIONS Delivering custom solution for electricity, heat, gas and low-carbon hydrogen FIGHTING GLOBAL WARNING LOCALLY Producing and providing local energy for low emission and resilient communities REDU
Slide 7: Key Takeaways for FY 2025
KEY TAKEAWAYS FOR FY 2025 Resilient set of results despite continued volatility in electricity price and gas injection constraints Revenues of €30.4 M EBITDA of €17.3 M, with an EBITDA margin of 60% (excluding IFRS 2 on free-awarded shares and IFRS 16) A strong balance sheet New €22 M corporate loan
Slide 8: Acquisition of Alltec in February 2025
ACQUISITION IN FEBRUARY 2025 Alltec is the only end-to-end low carbon energy EPC (Engineering Procurement and Construction) solution provider. Co-Owner of Sustainable Energy, one of Europe’s largest green energy test centers, certified with the prestigious Katapult label in Norway. €9.4 M €100 M c.
Slide 9: FY 2026: Capex Delivery to Fuel 2027 High Speed Growth
FY 2026: CAPEX DELIVERY TO FUEL 2027 HIGH SPEED GROWTH ▪ In FY 2026, several operational milestones should be announced Signing of the AMM agreement expected very soon, with the start of the Angres and Rouvignies CHPs and continued roll-out of new CHP plants in Northern France Further commercial con
Slide 10: FY 2025 Annual Results
FY 2025 ANNUAL RESULTS Code Reuters : LFDE. PA – Code Bloomberg : LFDE.FD
Slide 11: FY 2025: Sustainable Business Model Confirmed
FY 2025: SUSTAINABLE BUSINESS MODEL CONFIRMED + 30% CAGR since the IPO Electricity (42% of the revenues): €12.9 M, down due to a 35% decrease in average selling prices to € 31.4 M €94/MWh € 30.4 M Gas (26% of the revenues) : €8.2 M, showing growth despite the unavailability of the NaTran (ex- GRTgaz
Slide 12: Solid Financial Aggregates
SOLID FINANCIAL AGGREGATES PROFITABLE GROWTH EBITDA margin exceeds 2030 targets Rigorous Cost Management: Administrative expenses (excl. the accounting for free shares EBITDA under IFRS 2 and the integration of Greenstat and 60%1 Alltec) decreased by €1 M to €5.7 M FY 2025 €17.3 M EBITDA The integra
Slide 13: Strong Financial Profile Built for Future Growth
STRONG FINANCIAL PROFILE BUILT FOR FUTURE GROWTH COMFORTABLE CASH POSITION Main Investments, o/w: Balance Sheet €259 M - Cogenerations: €7.5 M €24 M - RNG (Stavanger): €7.9 M - Green H2: €4.9 M Cash position €63 M Alltec acquisition: €2.4 M in cash Share buyback: €1.1 M Equity €101 M 60% Net Debt /
Slide 14: Good Start to FY 2026: Revenues Growth in Q1 2026
GOOD START TO FY 2026: REVENUES GROWTH IN Q1 2026 + 32% €6.6 M €5.0 M Q1 26 sales of €6.6 M1 on a fully consolidated basis Electricity: €2.5 M on the back of normalized energy prices, and gas injection maximisation Gas: €1.8 M with a normalised gas injection level in NaTran’s network Alltec: €2.0 M
Slide 15: Positive Financial Outlook
A MAJOR PLAYER CONFIRMED IN THE POSITIVE ECOLOGICAL FINANCIAL TRANSITION OUTLOOK VISIBILITY ON CASH FLOW GENERATION FINANCIAL STRENGTH ➢ Solid business model based on AMM ➢ Cash position of €63 M being rolled out ➢ Additional €10 M in green bonds ➢ Feed in tariff of c. €80/MWH for 10- available to d
Slide 16: Operations and Update on Our Strategic Roadmap
OPERATIONS AND UPDATE ON OUR STRATEGIC ROADMAP Code Reuters : LFDE. PA – Code Bloomberg : LFDE.FD
Slide 17: FY 2030: Projects Pipeline Being Developed
FY 2030: PROJECTS PIPELINE BEING DEVELOPPED FY2025 FY2026-2027 FY2027-FY2028 FY2030 CURRENT PROJECTS CURRENTLY DEVELOPMENT TARGET 2030 OPERATIONS BEING DEVELOPPED PIPELINE ELECTRICITY COGENERATION 22.5 MW 30 MW 48 MW 100.5 MW 300 SOLAR MW 65 MW 76 MW 47 MW 183 MW GAS FROM AMM 220 GWH 0 GWH 0 GWH 220
Slide 18: Electricity Development Plan
ELECTRICITY DEVELOPMENT PLAN COGENERATION 4 new CHPs to start production FY 2026 in France Final administrative approval pending to connect to existing well facilities. Agreement includes authorization for 18 sites, with rollout in progress. Capex already spent, c. €4 M annual revenues expected 16 a
Slide 19: CHP Pipeline
CHP PIPELINE DIVION Capacity: 3 MW (2 CHPs) COD: 2028 ESTEVELLES Capacity: 4,5 MW (3 CHPs) COD: 2028 ESCAUDAIN Capacity: 6 MW (4 CHPs) COD: 2028 NOEUX SOMAIN / ANICHE Capacity: 1000Nm3/h Capacity: 3 MW (2 CHPs) COD: 2027 COD: 2028 ANGRES ANZIN LOOS-EN-GOHELLE Capacity: 3 MW (2 CHPs) Capacity: 3 MW (
Slide 20: To Address Bassin Compartmentalization
TO ADDRESS BASSIN COMPARTIMENTALIZATION Existing sites New sites Hydraulic ruptures NOEUX HULLUCH ESTEVELLES DIVION S25 LOOS ANGRES ANZIN ESCAUDAIN SOMAIN/ANICHE ROUVIGNIES 20 km Phase 2: 10 sites, 20 CHPs (30 MW) Code Reuters : FDEL. PA – Code Bloomberg : FDE.FP 20
Slide 21: RNG and Bio-CO2 Development Plan
RNG AND BIO-CO2 DEVELOPMENT PLAN RNG Project update for Halsa (cf. slide 24) Project update for Stavanger and Alver Secured land and 85% feedstock, all authorities positive for local zoning amendment update (waiting for validation) HALSA Secured subsidies for c. 17% of the capex Offtake under finali
Slide 22: Biogas - Halsa
BIOGAS - HALSA Halsa site: 120 GWh/y, 14.2 K tons of Bio-CO2 and 165K tons of bio-fertilizers Location: Æsvika - Galtneset industrial area, in Meløy municipality, Norway Offtake: Offtake under finalization for over €105/MWh CAPEX: Biogas plant €40 M Secured subsidies for c. 17% of the capex Spent to
Slide 23: Biogas – Halsa Site Construction
BIOGAS – HALSA SITE CONSTRUCTION Code Reuters : FDEL. PA – Code Bloomberg : FDE.FP 23
Slide 24: Biogas – Equipment Being Manufactured
BIOGAS – EQUIPMENT BEING MANUFACTURED Compression skid FAT1 RNG tank for painting Code Reuters : FDEL. PA – Code Bloomberg : FDE.FP 1 Factory Acceptance Test 24
Slide 25: Green Hydrogen in Norway
GREEN HYDROGEN IN NORWAY HYDROGEN Agder hydrogen project update (20 MW Phase 1) Production of 8 tons per day of green hydrogen Electrolysis and compressors ordered Enova funding of c. 40% secured for Phase 1 (20 MW) Commissioning expected in early 2027 Offtake under discussion NORWAY Capex of c. €25
Slide 26: Current Drilling Campaign in Lorraine
CURRENT DRILLING CAMPAIGN IN LORRAINE GAS AND NATURAL HYDROGEN Certified Resources: Over 2.1 billion m³ of gas certified in the concession area (191 km²) by IFP-Energies Nouvelles and MHA (Sproule Group), 42 certified sites in the Bleue Lorraine Concession Key FDE location: less than 5 km away from
Slide 27: Cemex: Projects Under Development to Become a Leader in CCU
CEMEX: PROJECTS UNDER DEVELOPMENT TO BECOME A LEADER IN CCU1 Proprietary innovative technology: Cryo Pur ✓ Already at industrial scale with 15 years developments on landfill gas and biogas ✓ Versatile technology adaptable to various type of industrial and flare gas ✓ Fully electric CO₂ capture techn
Slide 28: Fumes Treatment - CFG4000
FUMES TREATMENT - CFG4000 CFG4000: treatment of 4,000 Nm3/h fumes of Gazonor CHP Location: Avion, France CAPEX: €6.6 M ✓ €2 M subsidies received from ADEME, French environmental agencies ✓ Funding from CEMEX Spent to date: €2.3 M Milestones: Construction permit submitted, answer expected in January
Slide 29: Accelerated Capex Plan Delivery Until FY 2028
ACCELERATED CAPEX PLAN DELIVERY UNTIL FY 2028 Total FY26 Total FY 26 – FY28 c.€85 M (net of subsidies) c.€350 M (net of subsidies) 16 Main Investments FY26 – FY28: 63 AMM 22 RNG 121 12 13 20 127 33 9 AMM RNG Green H2 Solar Lorraine Capex increase progressively each year, enabling targeted investment
Slide 30: 3-Year FDE Investment Plan Fully Funded
3-YEAR FDE INVESTMENT PLAN FULLY FUNDED Planned investments 2026-2028 of c. €380 M, based on current 100% asset ownership (except for PV) 13% of Total Equity Capex c. €50 M Conservative ring- fenced project finance: • Gearing c. 80-90% => c. €300 M of debt at attractive costs Subsidies 8% of Total C
Slide 31: FDE's 2030 Growth Plan
FDE’S 2030 GROWTH PLAN EMISSIONS CO 2 EQ Avoided annually EBITDA > 20 MT/y In €M ANNUAL REVENUES In €M > €85 M > €175 M Code Reuters : FDEL. PA – Code Bloomberg : FDE.FP 31
Slide 32: FDE and Investor Relations
FDE AND INVESTOR RELATIONS Code Reuters : LFDE. PA – Code Bloomberg : LFDE.FD
Slide 33: Strong/Continued Investor Relations Activity
STRONG/CONTINUED INVESTOR RELATIONS ACTIVITY • 14 conferences in France, Norway, Germany, Italy and the UK 1 Investor conferences • 183 institutional investors met • Over 500 retail investors met 2 Site visits • 11 site visits for investors and shareholders • 27 press releases 3 Newsflow • 2 shareho
Slide 34: FDE Listing
FDE LISTING KEY CORPORATE INFORMATION SELL SIDE COVERAGE (as of December 4th, 2025) ✓ BUY Listing Euronext Paris Target Price: €87 October 2025 Share price €35.55/ share Analyst: anish@hannam.partners 5,2 M ✓ BUY Shares outstanding €185 M Target Price: €55 Market capitalisation October 2025 Analyst:
Slide 35: Agenda
AGENDA A MAJOR PLAYER IN THE ECOLOGICAL TRANSITION MANAGEMENT PRESENTATION Introduction and FY25 main achievements – Julien Moulin, Chairman FY25 Results and Finance update – Aurélie Tan, Chief Financial Officer Operations and update on our strategic roadmap – Antoine Forcinal, Chief Operating Offic
Slide 36: Remuneration Policy
REMUNERATION POLICY Reminder of the calculation of the total remuneration of the Chairman and CEO and the criteria for allocation Fixed remuneration Variable remuneration = Free-awarded shares, minimum 2-year holding period 25% based on quantitative criteria relating to total shareholder return gene
Slide 37: FY 2025: Remuneration for the Chairman and the CEO
FY 2025: REMUNERATION FOR THE CHAIRMAN AND THE CEO Chairman CLOSED FISCAL YEAR June 30th,2025 June 30th,2024 Amounts due Amounts due Cash amounts (subject to Cash amounts paid (subject to paid conditions) conditions) Mr. Julien Moulin, as Chairman of the Group Fixed remuneration 0€ 58 062 € 0€ 57 67
Slide 38: Agenda
AGENDA A MAJOR PLAYER IN THE ECOLOGICAL TRANSITION MANAGEMENT PRESENTATION Introduction and FY25 main achievements – Julien Moulin, Chairman FY25 Results and Finance update – Aurélie Tan, Chief Financial Officer Operations and update on our strategic roadmap – Antoine Forcinal, Chief Operating Offic
Slide 39: Auditors' Report on the Annual Accounts
A MAJOR PLAYER RAPPORT IN THE ECOLOGICAL DES COMMISSAIRES TRANSITION AUX COMPTES SUR LES COMPTES ANNUELS Opinion : En exécution de la mission qui nous a été confiée par l'assemblée générale, nous avons effectué l’audit des comptes annuels de la société LA FRANCAISE DE L’ENERGIE relatifs à l’exercice
Slide 40: Auditors' Report on the Consolidated Accounts
A MAJOR PLAYER RAPPORT IN THE ECOLOGICAL DES COMMISSAIRES TRANSITION AUX COMPTES SUR LES COMPTES CONSOLIDÉS Opinion : En exécution de la mission qui nous a été confiée par l'assemblée générale, nous avons effectué l’audit des comptes consolidés de la société LA FRANCAISE DE L’ENERGIE relatifs à l’ex
Slide 41: Auditors' Report on Regulated Agreements
RAPPORT DES COMMISSAIRES A MAJOR PLAYER AUX COMPTES IN THE ECOLOGICAL SUR LES CONVENTIONS TRANSITION RÉGLEMENTÉES Conventions nouvelles : Aucune convention autorisée et conclue au cours de l’exercice à soumettre à l’approbation de l’Assemblée générale. Conventions antérieures non approuvées : Admini
Slide 42: Agenda
AGENDA A MAJOR PLAYER IN THE ECOLOGICAL TRANSITION MANAGEMENT PRESENTATION Introduction and FY25 main achievements – Julien Moulin, Chairman FY25 Results and Finance update – Aurélie Tan, Chief Financial Officer Operations and update on our strategic roadmap – Antoine Forcinal, Chief Operating Offic
Slide 43: Agenda
AGENDA MANAGEMENT PRESENTATION Introduction and FY25 main achievements – Julien Moulin, Chairman FY25 Results and Finance update – Aurélie Tan, Chief Financial Officer Operations and update on our strategic roadmap – Antoine Forcinal, Chief Operating Officer FDE and Investors relations – Julien Moul
Slide 44: Ordinary Agenda
A MAJOR PLAYER ORDINARY AGENDAIN THE ECOLOGICAL TRANSITION 1. Approval of the company accounts for the financial year ending June 30th, 2025; 2. Approval of the consolidated accounts for the financial year ending June 30th, 2025; 3. Allocation of the result for the financial year ending June 30th, 2
Slide 45: Extraordinary Agenda
EXTRAORDINARY A MAJOR PLAYER AGENDA IN THE ECOLOGICAL TRANSITION 15. Authorization to be granted to the Board of Directors to reduce the share capital by cancelling treasury shares; 16. Delegation of authority to the Board of Directors to issue ordinary shares and/or securities giving immediate or f
Slide 46: Agenda
AGENDA A MAJOR PLAYER IN THE ECOLOGICAL TRANSITION MANAGEMENT PRESENTATION Introduction and FY25 main achievements – Julien Moulin, Chairman FY25 Results and Finance update – Aurélie Tan, Chief Financial Officer Operations and update on our strategic roadmap – Antoine Forcinal, Chief Operating Offic
Slide 47: Next Announcements
NEXT ANNOUNCEMENTS ➢ January 21st 2026 – H1 FY26 Revenues ➢ March 24th 2026 – Publication of H1 FY26 Results ➢ April 20th 2026 – Q3 FY26 Revenues ➢ July 21st 2026 – FY26 Revenues Code Reuters : FDEL. PA – Code Bloomberg : FDE.FP 47
Slide 48: FDE
FDE Code Reuters : FDEL. PA – Code Bloomberg : FDE.FD Tel : +33 (0)3 87 04 32 11 ir@francaisedelenergie.fr www.francaisedelenergie.fr
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