Econergy Ltd · TASE:ECNR
Econergy — Econergy Renewable Energy — Q3 2025 Earnings Presentation
27 slides from Econergy's earnings presentation, November 2025
Slide 1: Econergy Powering Renewables Investor Presentation Q3
Econergy Powering Renewables Investor Presentation Q3 November 2025
Slide 2: Limitation of Liability
; Limitation of Liability The purpose of this presentation is to present Econergy Renewable Energy Ltd. (the among other things, by risk factors that characterize the Company's activity, as well as by "Company”) and it is intended for the provision of information only. This presentation does develop
Slide 3: Leading IPP in Europe with Strong Market Presence
; Econergy |Leading IPP in Europe with Strong Market Presence (1) Accelerated Growth 634MW 1,378MW 2GW 13.3GW Connected & ready- to- connect Under construction Connected, ready- to- Total portfolio by YE 2025 connect & under construction by YE 2025 Competitive Advantages Local Presence Full Value Ch
Slide 4: Q3 2025: Strong build-out, connections, and key commercial wins
Q3 2025: Strong build - out, connections,; and key commercial wins )1) Surging build - out momentum of storage projects in Germany (2) Co- development agreement closed for two new 435 MW storage projects, construction expected to start during H2 2026 Implementation of Co - Location strategy in Roman
Slide 5: Three pronged strategy to maximize shareholder value
; Three pronged strategy to maximize shareholder value Storage גיאוגרפי Geo פיזור diversification חיזוק ההון Equity & debt Expanding storage activity through Expanding activity in Germany, UK, and Recycling capital via project sales to standalone storage projects and by Italy financial partner
Slide 6: Accelerating build-outs and grid connections
; Accelerating build- outs and grid connections (1) Connected and Under Construction (MW) 4,273 Under Construction Connected and Ready for CAGR Connection 3,059 1,905 +54% 2,012 1,651 996 1,378 2,368 748 500 485 1,408 429 345 511 634 155 319 2022 2023 2024 2025E 2026E 2027E 2026- 2027numbers are p r
Slide 7: Substantial portfolio supporting growth forecasts
; Substantial portfolio supporting growth forecasts One of the largest project - development platforms in Europe 13,255MW Connected and Under Construction Portfolio Connected , Ready to connect , Under construction 4,191 Advanced Portfolio 5,909 Connected, Ready to connect, Under construction , 3,15
Slide 8: €150M Revenues from Connected & U/C Portfolio (representative year)
€150M Revenues from Connected ;& U/C Portfolio (representative year) (1) 13,255 4,191 Connected and Under - 5,909 3,155 Construction Portfolio: Connected, Ready to 2,012 1,143 connect, Under 1,378 construction 634 Connected & Under Construction Connected and Pre Construction Advanced Pipeline Under
Slide 9: €260M Revenues from Advanced Portfolio (representative year)
; €260M Revenues from Advanced Portfolio (representative year) (1) 13,255 4,191 Advanced Portfolio: 5,909 3,155 Connected, Ready to connect, Under 2,012 1,143 construction, and Pre 1,378 construction 634 Connected & Under Construction Connected and Pre Construction Advanced Pipeline Under Developmen
Slide 10: 42% of Adv. Portfolio in UK and Germany, 74% with storage
; 42% of Adv. Portfolio in UK and Germany, 74% with storage Connected and U/C Portfolio Advanced Portfolio** 14% 7% 2% 22% 20% Geographical 2% From concentrated to diversified: diversification * 4% reduced risk, greater stability, 5% stronger positions in key markets Germany Poland UK Italy Romania
Slide 11: Strong growth outlook driven by Advanced Portfolio
Strong growth outlook driven by Advanced Portfolio (1) Econergy UK (75.24% ownership; figures in € millions) Forecasted operating results from electricity sales only (Non - GAAP) (1, 7, 8) Revenues EBITDA FFO 258 207 151 +91% 62 +84% 51 +81% 36 23* 17 15 17 11 10 2024 E2025 E2026 Advanced 2024 E2025
Slide 12: Maximizing returns as a local developer
; Maximizing returns as a local developer (1) Significantly Higher Returns Econergy – Local Value Creation Local Management Developer A strategic partner for EPCm Services and Asset Above- market average Low Development and investment and dev. value Management (AM) returns for connected Construction
Slide 13: Maximizing return on equity through co-location strategy
; Maximizing return on equity through co - location strategy (1) CAPEX (€M) EBITDA (€M) Parau1Project * Company ’s share (9) Econergy 86 7.3 Partner +74% 65 28 27%+ 22 4.2 58 43 PV PV + BESS PV PV + BESS Co- location projects maximize returns - An additional 27% CAPEX generates ~74% increase in EBIT
Slide 14: Storage in Europe as a central growth engine
Storage in Europe as a central growth engine Drastic increase in renewables requires integrating storage Shift to Renewables Driving Significant Volatility 700 • Rising renewables penetration creating volatility & growing number of negative - 600 price hours 500 TW/h 400 PV • Falling lithium prices
Slide 15: German market entry with 535 MW in advanced stages
; German market entry with 535 MW in advanced stages (1) Why Germany? Why Storage? (10) Econergy ’s Major Acquisitions Acquisition of 2 storage projects, 100MW AAA 360GW Country rating Government Renewables Target by 2030 Q4/2025 Q3/2027 Start of construction Expected COD Government Targets • Renewa
Slide 16: Competitive advantage in the storage market
; Competitive advantage in the storage market Compelling Business Case (11) • Government Support : Grid fee reductions and compensation mechanisms for storage. • Rising Demand : Growing grid volitility driven by renewables penetration and coal phase - out by 2032. • Cost Tailwinds : ~83% decline in
Slide 17: Maximizing certainty through long-term agreements
Maximizing certainty through long; - term agreements Romania The UK Poland Winning the CfD tender – Parau2: 343 MW Strategic Government Tender Win - PPA for Resko Project – 52MW(6) of PV and 150MW of storage (125MW AC), Swangate (50MW) & Immingham (80MW) • 19- year agreement with Apple the largest a
Slide 18: Significant fundraisings strengthen our growth plans
Significant fundraisings strengthen our growth plans (12) Capital & recycling Bonds issuances Project finance • €72M raised through a private • €85M raised through a • €366M of project financing share placement to leading highly demanded series B secured in 2025(1)* from institutions – Phoenix, More
Slide 19: Appendixes
Appendixes
Slide 20: 2035: Surge in Electricity Demand Across Europe
2035: Surge in Electricity Demand Across Europe Conventional Industry, AI and EV 36% increase in electricity consumption – from 3,297TWh to 4,470TWh by 2035 EU Electricity demand (TWh) Historical demand Projected demand (13) 5,000 5,000 +36% 4,470 4,500 4,500 Storage load 4,000 3,188 4,000 3,297 Hea
Slide 21: MW by countries and statuses
MW by countries and statuses; Germany The UK 3 Projects Poland 17Projects 250MW 31 Projects 185MW 1,409MW 1,178 MW 100MW 1,175MW 891MW 399MW 535MW 105MW Projects in early development 148MW 52MW 50MW 2,457MW Projects under license 2,950MW Projects approaching construction Romania 30 Projects Projects
Slide 22: Company Structure Incl. Strategic Partners Investments
; Company Structure Incl. Strategic Partners Investments Econergy Renewable Energy Ltd. – TASE:ECNR 75.24% Econergy International Limited (UK) 137 שלIGמצטברת הון Fund RGreen השקעת Invest 24.76% (Holding Company) מיליון אירו Cumulative Capital Investment of €137M 50- 51% 100% 100% SPCs joi
Slide 23: Consolidated Balance Sheet as of 30 September 2025 (€M)
Consolidated Balance Sheet as of ;30 September 2025 (€M) 30.09.2025 31.12.202 4 Total current assets 170 220 Total non- current assets 726 563 Total assets 896 784 Total current liabilities 129 198 Total non- current liabilities 323 373 Total liabilities 451 571 Total equity 445 212 Total liabilitie
Slide 24: Definitions of Non-GAAP Index
; Definitions of Non - GAAP Index The EBITDA, FFO and FCF measures of the Company's projects are non- GAAP financial metrics, i.e., they are not accounting measures, and accordingly these indices were not built according to accounting standards . The Company estimates that some of the companies are
Slide 25: ESG Milestones and objectives
; ESG Milestones and objectives Econergy and its stakeholders pledge to adopt a corporate responsibility policy that Aligned with international encompasses environmental, economic, and social dimensions, recognizing their importance reporting standards: for the business's growth: Environmental Socia
Slide 26: Footnotes Q3/25
; Footnotes Q3/25 1. The Company ’s assessment includes forward - looking information as of the report ’s publication date, as defined in the Securities Law. 2. See additional details in the Company ’s immediate report, published on November 18, 2025 (ref. no. 2025- 01- 088359 3. See additional deta
Slide 27: Thank you
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