Cavendish Hydrogen Asa · OSL:CAVEN

Cavendish Hydrogen Asa — Q2 2026 Earnings Presentation

23 slides from Cavendish Hydrogen Asa's earnings presentation, Aug 27, 2026

  1. Slide 1: Q2 2026 Presentation

    Q2 2026 Presentation August 27, 2026

  2. Slide 2: Forward-looking information

    Forward-looking information This Presentation includes and is based, inter alia, on forward-looking Although Cavendish Hydrogen ASA believes that its expectations, estimates information and statements relating to the business, financial performance and projections are based upon reasonable assumptio

  3. Slide 3: Agenda

    Agenda 1. This is Cavendish Hydrogen 2. Business Update Q2 2026 3. Key Figures Q2 2026 4. Summary and Outlook 3

  4. Slide 4: We are in the business of ending emissions from mobility

    We are in the business of ending emissions from mobility through reliable hydrogen fueling solutions 4

  5. Slide 5: Why Hydrogen

    THIS IS CAV ENDISH HY DROGEN Why Hydrogen 10 min No Emissions Long Driving Range Short Fueling Time Limited Grid Congestion An obvious prerequisite for A well-functioning truck must Where the battery electric Battery charging a truck would all modern vehicles, making be able to drive 800 km on one v

  6. Slide 6: Offering Fueling Equipment and Full Scope of Services

    THIS IS CAV ENDISH HY DROGEN Offering Fueling Equipment and Full Scope of Services Design and Manufacturing Supply Source Hydrogen Storage Fueling Station Dispenser Project Engineering Project Management Installation Commissioning Maintenance Operation Support Services Vehicles 6

  7. Slide 7: Agenda

    Agenda 1. This is Cavendish Hydrogen 2. Business Update Q2 2026 3. Key Figures Q2 2026 4. Summary and Outlook 7

  8. Slide 8: Q2 Business Highlights

    Q2 2026 | BU S INESS U PDATE Q2 Business Highlights New Contract Award in Luxembourg EUR 4.8 Million Cornerstone Investment • Back-to-back commercial momentum • EUR 4.8 million direct share issue – ~15% ownership • Continued expansion across key European markets • Validation of Cavendish Hydrogen’s

  9. Slide 9: Near-term Market Uncertain, but Positive Developments Advancing

    Q2 2026 | BU S INESS U PDATE Near-term Market Uncertain, but Positive Developments Advancing Market Situation Positive Developments • Increased activity in the market, but customer decision cycles • Germany EUR 220 million funding program in June for new continue to be long stations for trucks and h

  10. Slide 10: Germany and Netherlands Funding Creates New Bidding Opportunities for Cavendish

    Q2 2026 | BU S INESS U PDATE Germany and Netherlands Funding Creates New Bidding Opportunities for Cavendish Q2 2026 Q4 2026 Q2/Q3 2027  Applications received  Funding awards announced  FID and award to suppliers EUR 220M EUR 45M ~40 stations ~12 stations  Germany funding oversubscribed  Tender

  11. Slide 11: Contract Award in Q2: Hydrogen Fueling Station in Luxembourg

    Q2 2026 | BU S INESS U PDATE Contract Award in Q2: Hydrogen Fueling Station in Luxembourg EUR 1.4 Million 2027 Industrial Users & Bus Fleets Contract Value Delivery Application • Cavendish Hydrogen supplies the station Growing Cavendish European • Long-standing partner Mesure Process acts as EPC and

  12. Slide 12: Resolution of US Litigation

    Q2 2026 | BU S INESS U PDATE Resolution of US Litigation EUR 2.6 Million Full and Final No Impact Cavendish Settlement Resolution: No Admission of Expected Outlook Liability FEB 2024 JUN 2026 Lawsuit filed Settlement reached  Litigation Concluded Settlement removes future legal costs and mitigates

  13. Slide 13: HyMega: EU Funding for Next-Gen Compression

    Q2 2026 | BU S INESS U PDATE HyMega: EU Funding for Next-Gen Compression EUR 1.3 Million CET Partnership Consortium Leader Funding Awarded Program Cavendish Role Compression Storage & Production HyMEGA Focus Dispensing Sized for approx. 5 MW electrolyzer flow rates Why Compression Matters Why it Mat

  14. Slide 14: Transaction Completed: BHDT Becomes Cornerstone Investor

    Q2 2026 | BU S INESS U PDATE Transaction Completed: BHDT Becomes Cornerstone Investor EUR 4.8 million ~15% NOK 8.73 Strategic Equity Investment Share of Capital Subscription Price per Share BHDT, a leading Austrian specialist in high- Cavendish Hydrogen and BHDT are now pressure equipment, is now a

  15. Slide 15: Europe Dispensing Near Record Levels as Overall Volumes Stay High - US Softer

    Q2 2026 | BU S INESS U PDATE Europe Dispensing Near Record Levels as Overall Volumes Stay High - US Softer 400 000 South Korea US Europe Number of stations* 60 50 336 203 kg 300 000 +12% yoy Kg of hydrogen dispensed Number of stations* 40 200 000 30 29 stations ~93% of total volumes 57 stations 20 1

  16. Slide 16: Stations Completed or in Progress Europe

    Q2 2026 | BU S INESS U PDATE Stations Completed or in Progress Europe  Finalizing one station in Poland in Q2  Delivered equipment for two stations in EUROPE Italy, progressing toward commissioning  Luxembourg station awarded in Q2 - delivery scheduled for 2027  German project OVAG completed 1 S

  17. Slide 17: Agenda

    Agenda 1. This is Cavendish Hydrogen 2. Business Update Q2 2026 3. Key Figures Q2 2026 4. Summary and Outlook 17

  18. Slide 18: Financial Performance

    Q2 2026 | KEY F IGU RES Financial Performance Revenue  Revenue growth of 57% from previous quarter due to more equipment REVENUE & EBITDA ORDER INTAKE & BACKLOG & Cash deliveries. 23% revenue decrease yoy, mainly from lower installation and (EUR million) (EUR million) REVENUE ORDERS Intake Backlog

  19. Slide 19: Agenda

    Agenda 1. This is Cavendish Hydrogen 2. Business Update Q2 2026 3. Key Figures Q2 2026 4. Summary and Outlook 19

  20. Slide 20: Summary and Outlook

    Summary and Outlook Q2 2026 Highlights BHDT strategic investment completed, cornerstone industrial partnership moving from transaction to active cooperation Iwatani litigation amicably resolved, removing a legacy risk European funding award reinforcing our competitive position Markets Remain Unce

  21. Slide 21: Financial Calendar

    Financial Calendar Q3 2026 November 12, 2026 21 ©2024 Cavendish – All rights reserved

  22. Slide 22: Q&A Session

    Q&A Session We would kindly ask you to Please: RAISE YOUR HAND... TELL US WHO YOU ARE... ...AND REMEMBER TO UNMUTE 22

  23. Slide 23: Hydrogen for Clean Mobility

    Hydrogen for Clean Mobility © Cavendish Hydrogen

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