Lhyfe Sa · EURONEXT:LHYFE
Lhyfe Sa — FY2022 Earnings Presentation
41 slides from Lhyfe Sa's earnings presentation, Mar 22, 2023
Slide 1: Green Hydrogen Producer: FY 2022 Results
(4 GREEN HYDROGEN PRODUCER FY 2022 RESULTS WEBCONFERENCE 22 MARCH 2023 LHYFE T
Slide 2: Disclaimer
DISCLAIMER This presentation contains forward-looking statements regarding the prospects and growth strategies of Lhyfe and its subsidiaries (the “Group”). These statements include statements relating to the Group’s intentions, strategies, growth prospects, and trends in its results of operations, f
Slide 3: Speakers
SPEAKERS 2? Matthieu Guesné Maria Pardo Saleme Taia Kronborg Founder & CEO CFO Chief Business Officer
Slide 4: Our Identity
> > a OUR IDENTITY Independent green hydrogen producer Decarbonise mobility and industry
Slide 5: Lhyfe: Green H2 is already a reality
LHYFE: GREEN H, IS ALREADY A REALITY Decentralised green H, sites connected to renewable energy sources (using water electrolysis] ast industrial Onshore units operator \. production 4t \ —{ H2 2021 + From 300 kg per day INTRODUCTION to several tonnes of green hydrogen per day 4% pilot production Se
Slide 6: Green H2 is already a reality
GREEN H, IS ALREADY A REALITY ast industrial production
Slide 7: Lhyfe is a strategic player in the green hydrogen value chain
INTRODUCTION LHYFE IS A STRATEGIC PLAYER IN THE GREEN HYDROGEN VALUE CHAIN RENEWABLE ENERGIES PRODUCERS @ = skyb. Renewable ws SKYDOIN energies sales Vendée énergie Eurowind edp Energy. renewables Aad nel: eoeee plyg nd SUPPLIERS (ELECTROLYS OMPRES INDEPENDENT GREEN HYDROGEN PRODUCER Liyfe Permittin
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Slide 9: i GREEN RENEWABLE SRGRGEEN ue) Je eeise) Te INDUSTRY
i GREEN RENEWABLE SRGRGEEN ue) Je eeise) Te INDUSTRY > a
Slide 10: Lhyfe, an international group
INTRODUCTION 40 LHYFE, AN INTERNATIONAL GROUP * Subsidiaries in 7 countries (end-2022) Germany Denmark Netherlands + Sweden * United Kingdom (2022) * Spain (2022) * Canada (2022) * Offices in 11 European countries * Hydrogen projects in 12 countries Lupe Lyfe 6 Lf hype f Lyfe Liufe Lyfe Liufe Yufe
Slide 11: "
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Slide 12: 2022: Accelerating industrial scale-up
2022 HIGHLIGHTS & BUSINESS UPDATE 2022: ACCELERATING INDUSTRIAL SCALE-UP 7) Production: Bouin celebrated its 100" container of hydrogen at the end of 2022 v] 5 building permits submitted and the land for 14 production unit projects secured in 2022 7 50 MW of projects at awarded or construction stage
Slide 13: Zoom into projects under construction
2022 HIGHLIGHTS & BUSINESS UPDATE 3 ZOOM INTO PROJECTS UNDER CONSTRUCTION | LHYFE BOTNIA (Sweden) \ ' 1.5 MW - COD End-2023 - Construction stage LHYFE BADE-WURTEMBERG (Schwabisch Gmund - Germany) 10 MW - COD H1 2024 - Construction stage | LHYFE DB (Tubingen - Germany) | 4 MW - COD End-2023 - Constru
Slide 14: Lhyfe continues to deploy green and renewable hydrogen production sites
2022 HIGHLIGHTS & BUSINESS UPDATE 4 LHYFE CONTINUES TO | DEPLOY GREEN AND i RENEWABLE HYDROGEN PRODUCTION SITES = 2”d production site will be in Brittany (Morbihan, Buléon near Lorient) = 5 MW total production capacity Se ; (up to 2 tonnes of green and renewable ofl Td el ic. hydrogen per day) i VN
Slide 15: Buléon: project development timeline
2022 HIGHLIGHTS & BUSINESS UPDATE BULEON: PROJECT DEVELOPMENT TIMELINE 48T MODULAR 5 MW PROJECT DEVELOPPED, NOW STARTING INDUSTRIAL SCALE-UP caney STAGE ode voatear March 2020 Nov. 2020 Oct. 2020 Feb. 2021 Main specifications Time-to-market: 43 months Production capacity: 2 tons/day Production capac
Slide 16: Project in construction stage: Bessières (France)
2022 HIGHLIGHTS & BUSINESS UPDATE 16 PROJECT IN CONSTRUCTION STAGE: BESSIERES (FRANCE) "Capacity 5 MW * Building permit obtained in H2 2022 = COD End-2023 * Winner of the Corridor H, tender for projects
Slide 17: Project in construction stage: Botnia (Sweden)
2022 HIGHLIGHTS & BUSINESS UPDATE 7 PROJECT IN CONSTRUCTION STAGE: BOTNIA (SWEDEN) "Capacity 1.5 MW = Land and connexion secured * Building permit ongoing = Groundwork started " COD End-2023
Slide 18: Project in construction stage: Tübingen (Germany)
2022 HIGHLIGHTS & BUSINESS UPDATE 8 y PROJECT IN CONSTRUCTION STAGE: TUBINGEN (GERMANY) "Capacity 1 MW "Contract with DB signed * COD H2 2023 = Aimed at supplying hydrogen- powered trains on the Pforzheim- Horb-TUbingen line from 2024. H2goesRail BAHN
Slide 19: Project in awarded stage: Baden-Württemberg (Germany)
2022 HIGHLIGHTS & BUSINESS UPDATE 19 PROJECT IN AWARDED STAGE: BADE-WURTEMBERG (GERMANY) =" Capacity 10 MW = Land secured with the Schwabisch Gmund city = Building permit submitted = COD H1 2024 = Part of the regional project HyFive with €33 million granted funding
Slide 20: Success of the 2022 recruitment plan
2022 HIGHLIGHTS & BUSINESS UPDATE 20 SUCCESS OF THE 2022 RECRUITMENT PLAN GROWING UNITED TEAM = Tripling of the workforce in one year = Less than 3% turnover 149 = 30% female 57 = 38% dedicated to engineering = 29% dedicated to business development 2 16 Lt = 1% dedicated to operations mi = 22% dedic
Slide 21: Subsidies: €59.3M secured to date
2022 HIGHLIGHTS & BUSINESS UPDATE ea SUBSIDIES: €59.35 M SECURED TO DATE GRANTS SECURED TO DATE 2017-2021 € 18.7m € 16.4 m 2022 R&D: €1.9 m Production sites: €14.5 m 2023 YTD € 24.2 m TOTAL TO DATE 6 59.3 ml LATEST SUBSIDIES CONFIRMED TH2ICINO ( ) (Towards H2ydrogen Integrated eConomies In Northern
Slide 22: FY 2022 Results
Slide 23: FY 2022 P&L: Company structuring
FINANCE 23 FY 2022 P&L: COMPANY STRUCTURING Revenue 0.6 0.2 Cost of purchases (0.4) (0.2) Staff expenses (1.3) (3.0) External expenses (7.3) (2.9) Other operating income & expenses 14 05 EBITDA’ (17.0) (5.4) Current operating result (EBIT) (18.2) (5.7) Operating result (19.2) (5.7) Net result (25.8)
Slide 24: Strong cash position to fund company's growth
FINANCE STRONG CASH POSITION TO FUND COMPANY’S GROWTH € m- IFRS standards FY 2022 FY 2021 Net result (25.8) (8.7) Operating cashflow (15.0) (4.7) Investing cashflow (12.9) (4.7) Financing cashflow 122.6 52.0 Change in cash & cash equivalents 94.6 42.6 € m- IFRS standards Cash & cash equivalents 144.
Slide 25: Group's objectives confirmed
FINANCE 25 GROUP’S OBJECTIVES CONFIRMED INSTALLED CAPACITY 55 MW by 2024 200 MW by 2026 +35 GW by 2030 REVENUE ~€200 m consolidated revenue 2026 EBITDA Break even by 2026 Long term EBITDA margin > 50%
Slide 26: ww & Ss...
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Slide 27: Pipeline overview: 9.8 GW at end-December 2022
PIPELINE OVERVIEW: 9.8 GW AT END-DECEMBER pose VS. 4.8 GW IN APRIL 2022 PIPELINE BY GEOGRAPHY In MW Southern Europe Western | Europe Et Worthen Europe PIPELINE BY TYPE OF PROJECT Southern Europe |- 2 . - , Portugal Eye -_ mi ; Project pipeline om a : Green Hp O production projects Backbone | 950% 9.
Slide 28: A solid business pipeline: 9.8 GW at end-December 2022
BUSINESS DEVELOPMENT 28 A SOLID BUSINESS PIPELINE: 9.8 GW AT END-DECEMBER 2022 EARLY STAGE ADVANCED DEVELOPMENT TENDER READY AWARDED construction [i operations §[® NB: Projects at Construction stage at date : 24 MW 5.0 GW 4.1 GW 710 MW 40 MW
Slide 29: Doubled portfolio of projects at an advanced stage of development
BUSINESS DEVELOPMENT 29 DOUBLED PORTFOLIO OF PROJECTS AT AN ADVANCED STAGE OF DEVELOPMENT' +987 +352 MW +135% 710 MW or anal 40 Mw . +4,5 MW Projects at an advanced stage of 9MwW development 358 MW represented 759 MW in total installed 5,5 MW 7MW production capacity at end-2022 (vs. 380.5 MW mid-Apr
Slide 30: Selected large-scale projects under development
SELECTED LARGE-SCALE PROJECTS UNDER DEVELOPMENT SOUTH2PORT & GREENHYSCALE ‘p DELFZIJL S 600 MW plant - Up to 240 tons/day Linked to off-shore wind Expected start of construction in 2025 Developed with aa skyborn Capacity 100 MW - Up to 40 tons/day European Green Deal funded Expected COD in 2025 Capa
Slide 31: Business development partnerships
BUSINESS DEVELOPMENT PARTNERSHIPS SCHAEFFLER SCHAEFFLER COOPERATION AGREEMENT TO BUILD INDUSTRIAL PLANT IN GERMANY Agreement to build and operate a plant on Schaeffler’s factory premises in Herzogenaurach with a capacity of up to 15 MW PLUG Plyg HYDROGEN PRODUCTION PLANT CO-DEVELOPMENT A co-developm
Slide 32: Accelerating development of green renewable hydrogen in the Nordics
BUSINESS DEVELOPMENT NG ubs ACCELERATING DEVELOPMENT OF GREEN AY RENEWABLE HYDROGEN IN THE NORDICS F/ exens FLEXIBLE ENERGY SOLUTIONS MARCH 2023: ACQUISITION OF A 49% STAKE IN THE FINNISH COMPANY = Lhyfe becomes the largest shareholder of Flexens & FLEXENS, A DEVELOPER OF GREEN RENEWABLE HYDROGEN AN
Slide 33: Offshore roadmap
OFFSHORE ROADMAP.
Slide 34: Offshore project: Sealhyfe
OFFSHORE PROJECT: SEALHYFE 4st offshore 2 hydrogen = production unit in < the world in 2022 2 The world’s first z floating ° electrolyser 41 MW Plug electrolyser 400 kg per day green hydrogen production Commissioning: sept. 2022 Gens CHANTIERS. ? DE VATLANTIQUE o- )) fis ceta toe [ize Works first 7
Slide 35: Offshore HOPE project: targeting commissioning 10 MW in 2025
OFFSHORE ROADMAP 35 OFFSHORE HOPE PROJECT: TARGETING COMMISSIONING 10 MW IN 2025 HOPE (Hydrogen Offshore Production for Europe) led by a consortium coordinated ie UE under the call for projects of by Lhyfe the Clean Hydrogen Partnership (EU) Clean Hydrogen eS] Partnership Co-funded by the European U
Slide 36: New offshore partnership: Centrica
a < = a < =) m x 2 x D re) NEW OFFSHORE PARTNERSHIP: CENTRICA MOU TO DEVELOP OFFSHORE RENEWABLE GREEN HYDROGEN IN THE UK * Combining expertise to collaborate on a pilot green hydrogen production site in the Southern North Sea * Goal: proof that an end-to-end hydrogen production, storage, and distrib
Slide 37: Offshore wind tremendous generation potential
OFFSHORE ROADMAP OFFSHORE WIND TREMENDOUS GENERATION POTENTIAL EU: POISED TO CONTINUE LEADING THE OFFSHORE WIND INDUSTRY * Offshore wind capacity increase by at least fourfold by 2030 * Offshore wind: European Union's largest source of electricity in the 2040s HIGH-CAPACITY FACTORS AND FALLING COSTS
Slide 38: Lhyfe
Slide 39: Appendices
Slide 40: Shareholding & stock information
APPENDICES SHAREHOLDING & STOCK INFORMATIONS SHAREHOLDING STRUCTURE 47,900,448 shares as of end-February 2023 BB vatthieu Guesne BB voria [Bl vendée Hydrogéne _ Les Saules |_ EDR Renewables Europe BB ouest Croissance Hi Float * At 21 March 2023 NI EE v faa] pontzamrarc BRYAN. GARNIER & CO ODDO BHF T
Slide 41: Lhyfe: an extra-financial commitment in our DNA
LHYFE: AN EXTRA-FINANCIAL COMMITMENT IN OUR DNA » 5 Governance 2 a 2021 Rating! 68 EU TAXONOMY ASSESSMENT 2 71/100 vs. 46/100 benchmark (v) Contributes substantially to the “Climate change mitigation objective” stakcneloers 50. 49 > 78> Social © Complies with 100% of the screening criteria defined i