Energy One Limited · ASX:EOL
Energy One — FY2026 Earnings Presentation
38 slides from Energy One's earnings presentation, Aug 19, 2026
Slide 1: Financial Results for the period ended 30 June 2026
ENERGY ONE Ben Tranier (CEO) Jason Mabee (CFO) LIMITED (ASX:EOL) For personal use only Financial Results For the period ended 30 June 2026
Slide 2: Important Information
IMPORTANT INFORMATION For personal use only This document has been prepared by Energy One Limited (EOL) and comprises written materials and slides for a presentation concerning EOL. This presentation is for information purposes only and does not constitute or form part of any offer or invitation to
Slide 3: Today's Agenda
TODAY’S AGENDA For personal use only 01 EOL Value Proposition 02 FY26 Results Overview 03 Business Update 04 Looking Ahead 05 GMSL Acquisition 06 Q&A ENERGY ONE LIMITED (ASX:EOL) : FULL YEAR RESULTS FY26 3
Slide 4: Our Vision
OUR VISION For personal use only TO BE THE WORLD’S LEADING PROVIDER OF WHOLESALE ENERGY TRADING SOFTWARE AND SERVICES ENERGY ONE LIMITED (ASX:EOL) : FULL YEAR RESULTS FY26 4
Slide 5: State-of-the-art software solutions and specialised services
STATE-OF-THE-ART SOFTWARE SOLUTIONS AND SPECIALISED SERVICES For personal use only Energy One Unique Value Energy One Services Proposition Software Market Operations Simple Market Data Nominations & Scheduling Strong outcome Trading Systems Settlements & Compliance Scalable Workflow Automation Advis
Slide 6: Energy One Stop Shop
ENERGY ONE STOP SHOP Energy One is an industry leader Scheduling & in four core areas For personal use only Market Access across the energy EnergyOffer egssPort Gas eZ-Ops trading lifecycle: NemSight EnVoy Asset Energy Trading Optimisation & Risk Management pypIT EnFlow EnFuse enTrader EOT SimEnergy
Slide 7: FY26: Another Year of Strong Growth Delivered
FY26: ANOTHER YEAR OF STRONG GROWTH DELIVERED For personal use only CAGR 23% CAGR 19% CAGR 24% 63.5 12.5 14.9 54.1 46.5 8.3 10.5 39.2 22.8 29.5 5.2 5.4 5.4 6.5 6.7 4.2 5.0 4.9 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 FY2021 FY2022 FY2023 FY2024 FY2025 FY202
Slide 8: Proof the Strategy Is Working
PROOF THE STRATEGY IS WORKING A strong year defined by a smooth leadership transition and reorganisation, solid foundations and positive tailwinds. For personal use only ONE PLATFORM GLOBAL LEVERAGE PRODUCTIVITY INORGANIC GROWTH Integrated customer Scale across home Operating leverage Disciplined ex
Slide 9: FY26 Results Overview
For personal use only FY26 RESULTS OVERVIEW ENERGY ONE LIMITED (ASX:EOL) : FULL YEAR RESULTS FY26
Slide 10: FY26 Scorecard on Key Metrics
FY26 SCORECARD ON KEY METRICS For personal use only Profitable recurring growth, with continued investment and improving operating leverage. $69.9M $64.6M $63.5M 106% REVENUE ARR RECURRING REVENUE NET REVENUE RETENTION +14% vs FY25 +13% vs FY251 +17% vs FY25 vs 108% in FY25 Strong growth delivered a
Slide 11: Underlying ARR Growth Remains Strong
UNDERLYING ARR GROWTH REMAINS STRONG For personal use only ARR bridge: rebase FY25 to FY26 FX Actual June spot FX movement $70m EUR/AUD 1.79 -11% ~13% $64.6m COMPARABLE ARR GROWTH $65m IS AFTER REBASING FY25 TO $60.4m -$3.0m FX +$7.2m / JUNE 2026 FX RATES. / -5% +13% 1.59 $60m Jun-25 Jun-26 $57.4m $
Slide 12: FY27 ARR Growth Is Underpinned by Contracted ARR Not Yet Billed
IMPORTANTLY FY27 ARR GROWTH IS UNDERPINNED BY CONTRACTED ARR NOT YET BILLED For personal use only $5.1m of signed or contract-prepared ARR at 30 June 2026 provides a strong foundation for EOL to deliver at least 15% recurring revenue growth in FY27. $5.1M TOTAL SIGNED/ CONTRACT-PREPARED ARR Up from
Slide 13: Attrition Elevated, Action Underway
ATTRITION ELEVATED, ACTION UNDERWAY FY26 attrition was concentrated in a small number of customer-specific events. While some churn was outside EOL's control, we see clear opportunities to improve retention. For personal use only Attrition Trend FY26 Attrition Drivers FY27 Areas of Focus 5.2% TARGET
Slide 14: Demonstrating Strong Operating Leverage
DEMONSTRATING STRONG OPERATING LEVERAGE Revenue is scaling faster than Underlying Cash expenditure, expanding Cash For personal use only EBITDA margins and increasing free cash flow (15% FCF margin in FY26). 21% FY26 CASH EBITDA MARGIN Cash expenditure as % of revenue Cash EBITDA as % of revenue Up
Slide 15: Business Update
For personal use only BUSINESS UPDATE ENERGY ONE LIMITED (ASX:EOL) : FULL YEAR RESULTS FY26 15
Slide 16: Energy One Stop Shop Strategy Is Successful
ENERGY ONE STOP SHOP STRATEGY IS SUCCESSFUL AU Expanded from a single-product relationship to a broader software and services partnership EU Supporting one of Europe’s largest industrial energy transformation programmes For personal use only New Upsell New Customer EnFlow GMDR Customer Portal EOT En
Slide 17: A Strengthened Leadership Structure to Power Our Next Phase
A STRENGTHENED LEADERSHIP STRUCTURE TO POWER OUR NEXT PHASE For personal use only Ben Tranier Jason Mabee Vasco Sousa Rob Meyers Ryan Tutt Chief Executive Officer Chief Financial Officer Chief Operating Officer General Manager, Australia Chief Revenue Officer, Europe 20 years in global 25+ years in
Slide 18: Australia Keeps Delivering Strong Enterprise Wins, Upsells and BESS Momentum
AUSTRALIA KEEPS DELIVERING STRONG ENTERPRISE WINS, UPSELLS AND BESS MOMENTUM For personal use only Australia - Key Growth Drivers • BESS proposition is differentiated: battery-agnostic optimiser, strong benchmarking and ability to combine software with trading $30.1M REVENUE +15% services • Strong p
Slide 19: Europe Finished FY26 with Revenue Timing Delays but Stronger Enterprise Demand
EUROPE FINISHED FY26 WITH REVENUE TIMING DELAYS, BUT STRONGER ENTERPRISE DEMAND, LARGER MULTI-PRODUCT WINS AND BETTER FY27 VISIBILITY For personal use only Europe - Key Growth Drivers • Europe is demonstrating scalability, with revenue up strongly, increasing market size $39.5M REVENUE +13% • Multip
Slide 20: Looking Ahead
For personal use only LOOKING AHEAD ENERGY ONE LIMITED (ASX:EOL) : FULL YEAR RESULTS FY26 20
Slide 21: Structural Market Growth Drives TAM Expansion
STRUCTURAL MARKET GROWTH DRIVES TAM EXPANSION Our core market continues to grow, and new adjacent markets are For personal use only emerging. Energy One is positioned Industrial energy management across both. Battery optimisation By 2030... Carbon Capture & Storage (CCS) DERs and flexibility +80% Ne
Slide 22: Positioned to Benefit from Market Expansion
POSITIONED TO BENEFIT FROM MARKET EXPANSION For personal use only Assets Optimisation Energy Trading Suite New Molecules Industrial & Generation and Energy Storage One platform, integrated Expanding into new Integrated Solutions Assets, optimising complex toolset, supporting new adjacent energy mark
Slide 23: AI Transformation – Faster to Market
AI TRANSFORMATION – FASTER TO MARKET 3.6m 4x For personal use only 4 lines of QA code pilots code coverage Targeted Scale with AI Discovery Code Assistant 10% Programs AI Guardrails 90% staff in Industrial Pilots cyber Human Collaboration Industrialisation AI adoption discover security Agentic Train
Slide 24: State of the Art Commercial Engine
STATE OF THE ART COMMERCIAL ENGINE For personal use only FY26 investment into customer excellence and sales capability is leading to a higher-quality pipeline, faster conversion and larger opportunities. BRAND AWARENESS LEAD GENERATION SALES EFFECTIVENESS CUSTOMER EXPANSION More reach and more conte
Slide 25: A Stronger Platform for the Next Phase of Growth
A STRONGER PLATFORM FOR THE NEXT PHASE OF GROWTH. For personal use only FY26 delivered Our one-stop-shop Market complexity is Energy One is strong results strategy is proven. increasing demand. positioned to scale. FY27 targets ~30% ≥15% CASH EBITDA RUN-RATE RECURRING REVENUE GROWTH ENERGY ONE LIMIT
Slide 26: Energy One Acquires GMSL
ENERGY ONE ACQUIRES GMSL THE LEADING EUROPEAN For personal use only TRADING OPERATIONS PROVIDER Joining forces to create the leading European software and services platform for energy market operations
Slide 27: A Strategic Milestone That Accelerates Energy One's Growth Strategy
A STRATEGIC MILESTONE THAT ACCELERATES ENERGY ONE'S PROVEN For personal use only SOFTWARE + SERVICES GROWTH STRATEGY. Capability Market Reach Customer Access A unique opportunity to accelerate European growth through expanded capability, customer access and market reach. ENERGY ONE LIMITED (ASX:EOL)
Slide 28: Transformational Step in Energy One's European Growth Strategy
TRANSFORMATIONAL STEP IN ENERGY ONE'S EUROPEAN GROWTH STRATEGY For personal use only GROWTH ACCELERATION Accelerates Energy One's European growth strategy through expanded customer access, broader capabilities and increased market reach. MARKET LEADERSHIP Creates the clear leader in short-term energ
Slide 29: Unique Opportunity to Accelerate Energy One's Proven Growth Strategy
UNIQUE OPPORTUNITY TO ACCELERATE ENERGY ONE'S PROVEN GROWTH STRATEGY For personal use only A simple all-scrip transaction that adds European scale, expands capability and is expected to be materially EPS accretive. Shareholder value impact 35% ~2x ~70% ~A$4.1m FY26A pro forma EPS accretion Market sh
Slide 30: Energy One Combined with GMSL Would Be a European Leader
ENERGY ONE, COMBINED WITH GMSL, WOULD BE A EUROPEAN LEADER IN PROVIDING SOFTWARE & SERVICES For personal use only UPSELLS & CROSS-SELLS CAPTURE NEW MARKET OPPORTUNITIES Tier 1 Industrial Platform Software + Services Combines Energy One’s platform strength Strengthens and broadens what we have, with
Slide 31: GMSL Has Resilient Revenue with Strong Retention and Diversification
GMSL HAS RESILIENT REVENUE WITH STRONG RETENTION AND DIVERSIFICATION 7% CAGR Revenue Breakdown by Geography 30.3 32.5 28.3 For personal use only 26.3 REVENUE 6% 5% (A$M) 8% 33% 10% FY23A FY24A FY25A FY26A 25% 13% 9.7 10.1 10.3 10.6 PRO FORMA UK Switzerland RoE Netherlands ADJUSTED EBITDA Germany Ire
Slide 32: A Combination That Delivers on Scale, Scope and Profitability
A COMBINATION THAT DELIVERS ON SCALE, SCOPE AND PROFITABILITY ENERGY ONE + GMSL = COMBINED ENTITY For personal use only REVENUE 69.9 32.5 102.5 (FY26A, in A$m) PRO FORMA EBITDA 19.4 10.6 29.9 ✓ Access to blue-chip clients INCOME STATEMENT (pre-AASB 16) (FY26A, in A$m) through European MARGIN expansi
Slide 33: An Aligned Long-Term Strategic Vision
AN ALIGNED LONG-TERM STRATEGIC VISION For personal use only COMBINED STRENGTHS B A VALUE CREATION Combining complementary expertise Cross-sell, upsell and operational + + to accelerate long-term growth leverage opportunities A KEY PARTNERSHIP C + Continuation of critical services to Fluxys through a
Slide 34: Energy One to Realise Up to ~A$4.1m in EBITDA Synergies
ENERGY ONE TO REALISE UP TO ~A$4.1M IN EBITDA SYNERGIES For personal use only COMPONENT POTENTIAL SYNERGY OPPORTUNITIES TIMING Revenue synergies • Day 1 revenue synergies through • Fully ramped by end of FY28 cross sell of Energy One’s products ~A$1.9m into GMSL’s customer base • Reflects potential
Slide 35: Transaction Overview: Acquisition of GMSL
TRANSACTION OVERVIEW: ACQUISITION OF GMSL Acquisition Value • GMSL is to be acquired for scrip consideration • The GMSL acquisition implies an enterprise value of A$99.824m and is accretive to standalone EPS1 For personal use only Funding • The Purchase Price will be settled entirely by the issue of
Slide 36: GMSL Accelerates a Proven Strategy and Creates Shareholder Value
GMSL ACCELERATES A PROVEN STRATEGY AND CREATES SHAREHOLDER VALUE For personal use only A larger European platform, immediate revenue opportunities, differentiated capability and higher 35% ~A$4.1m ~70% earnings potential. FY26A PRO FORMA POTENTIAL EBITDA COMBINED REVENUE EPS ACCRETION SYNERGIES FROM
Slide 37: Indicative Transaction Timetable
INDICATIVE TRANSACTION TIMETABLE For personal use only Wednesday 19 End of August End of September Late Q2 August 2026 2026 2026 FY27 Transaction Notice of Meeting EGM to approve Expected Announcement despatched to Energy EOL share issue completion after FIRB One shareholders approval for share issu
Slide 38: Questions?
QUESTIONS? For personal use only ENERGY ONE LIMITED (ASX:EOL) : FULL YEAR RESULTS FY26 38