Tantalus Systems Holding Inc · TSX:GRID
Tantalus Systems — Investor Presentation (September 2026)
28 slides from Tantalus Systems's investor presentation, September 2026
Slide 1: Modernize the Grid by Harnessing the Power of Data
TANTALUS.COM September 2026 MODERNIZE THE GRID BY HARNESSING THE POWER OF DATA CORPORATE PRESENTATION (TSX: GRID; OTCQX: TGMPF)
Slide 2: Legal Notice and Disclaimer
Legal Notice and Disclaimer IMPORTANT: YOU MUST READ THE FOLLOWING BEFORE CONTINUING. The information contained in this presentation has been prepared by Tantalus Systems Holding Inc. (“Tantalus” or the “Company”) for information purposes only. This presentation does not constitute or form part of a
Slide 3: Pure-Play Technology Company Focused on Grid Modernization
Pure-Play Technology Company Focused on Grid Modernization Helping utilities harness the power of data to modernize their distribution grids 340+ 145+ 20+ 4M+ PURPOSE Utilities within a Dedicated Channel partners Connected growing user employees across to support sales devices deployed community Can
Slide 4: Emerging Challenges Confronting Utilities
Emerging Challenges Confronting Utilities Utilities are facing increasing challenges that are accelerating grid modernization initiatives Growing Imbalance Between Increasing Risk of Preparing for Retirement of Power Supply & Demand Power Outages an Aging Workforce The increase in electric demand fr
Slide 5: Focused Market Strategy Within Utility Industry
Focused Market Strategy Within Utility Industry Deep penetration in core segments with expanding opportunity into larger utilities (~3,000 utilities in the US)* U.S. Market Segmentation* Why Utilities Select Tantalus Tantalus’ Core Focus Technology Advantage • Public Power (~2,000 utilities) and Ele
Slide 6: Grid Modernization Is a Massive Opportunity
Grid Modernization Is a Massive Opportunity Our core business continues to present upside with significant paths to scale Automated Metering Remains Robust Opportunity Grid Modernization & Grid Data Management Opportunities 60% 17% CAGR of the North American expected growth rate of the electrical gr
Slide 7: Tantalus Grid Modernization Platform (TGMP)
Tantalus Grid Modernization Platform (TGMP) A hardware-enabled software model that leads to recurring revenue from each intelligent device Analytics TRUGrid Automation & Analytics (Transformer, Reliability, Verify and Advantage) Applications TRUConnect AMI, TRUFlex Load+DER Management, and outcome-d
Slide 8: Our Strategy is to Support a Utility's Journey to Grid Modernization
Our Strategy is to Support a Utility’s Journey to Grid Modernization A suite of solutions integrated through TGMP to solve immediate challenges with expansion opportunities Substation to Meter: Grid Edge: Access to data + Behind the Meter: Leveraging every Balance and managing supply/demand command
Slide 9: Building Momentum Through the TRUSense Gateway
Building Momentum Through the TRUSense Gateway Our latest innovation is at the intersection of the electrification of everything & grid modernization First-Mover Advantage Attributes • Combines four high-value use cases • Three versions (Fiber, Ethernet, Cellular) • Market-leading sensing capabiliti
Slide 10: TRUSense Gateway: Extending the Edge of the Grid
TRUSense Gateway : Extending the Edge of the Grid Summary TRUSense Gateway is referred to as a meter socket device Retrofits into any existing residential electric meter socket (ANSI- based) Supports any existing ANSI meter Versatile to help utilities accelerate grid modernization with existing infr
Slide 11: Front-of-Meter + Behind-the-Meter Capabilities
Front-of-Meter + Behind-the-Meter Capabilities A unified platform to unlock residential demand flexibility & enhanced grid visibility SCADA TGMP and TRUSync can ingest and share data with existing SCADA ADMS Complement ADMS by feeding high- resolution AMI/edge data and DER telemetry into ADMS Electr
Slide 12: Power Quality Use Case: Predictive Transformer Analytics
Power Quality Use Case: Predictive Transformer Analytics Leveraging grid edge data to detect vulnerabilities, reduce overload risk, and support reliability • Predictive Analytics Offering – Common user interface designed alongside our user community provides real-time insights across the utility – I
Slide 13: Business Model and Financial Summary
Business Model and Financial Summary As of June 30, 2026
Slide 14: Sustainable Growth: Extended Revenue Opportunity
Sustainable Growth: Extended Revenue Opportunity Connected Devices and Software & Services deliver complementary revenue across three strategic phases PHASE 1: DEPLOY PHASE 2: EXPAND & SUSTAIN PHASE 3: UPGRADE & EXTEND Years 1 – 3 Years 4 – 10 Years 10 – 15+ CONNECTED DEVICES (~65% of total revenue)
Slide 15: How Do We Drive Durable Demand?
How Do We Drive Durable Demand? The Tantalus sales process – Land, Expand & Broaden Validation of repeating our process Land • Expand and leverage sales coverage Tantalus adds ~20 new accounts annually via channel partners Existing user community represents ~85% of our annual Durable revenue profile
Slide 16: Q2 2026 Income Statement – US$M
Q2 2026 Income Statement – US$M Revenue growth and margin discipline drove generated positive Adjusted EBITDA $16.0 $15.4 Highlights $14.0 $13.1 Continuing to build momentum, with revenue $12.0 growth of 18% year-over-year $10.0 $8.5 $8.0 $6.9 Gross profits increased by 22% year-over-year while gros
Slide 17: Q2 2026 Revenue & Gross Profit by Segment
Q2 2026 Revenue & Gross Profit by Segment Q2 delivered solid revenue, recurring revenue and margin growth Revenue by Segment - US$M Gross Profit by Segment - US$M $12.0 $10.0 $10.4 $9.0 $8.5 $10.0 $8.9 $8.0 $6.9 $7.0 $8.0 $6.0 $6.0 $5.0 $4.6 $5.0 $3.9 $4.2 $4.0 53% 47% 42%$3.8 34% 72% 74% $4.0 $3.6
Slide 18: TTM Income Statement – US$M
TTM Income Statement – US$M New TTM records for revenue, gross profit and Adjusted EBITDA $70.0 Highlights $59.6 $60.0 TTM revenue grew over 20%, driven by expanding $49.2 user community, accelerating deployments and $50.0 commercialization of new capabilities $40.0 $32.5 TTM gross profit and margin
Slide 19: Q2 2026 TTM Cash Flow Waterfall
Q2 2026 TTM Cash Flow Waterfall Rising operating and disciplined capital allocation translate into positive free cash flow US$000s • TTM cash flow from operations was $1.1 $35,000 million and free cash flow was $3,465 $1,451 approximately $0.4 million $30,000 $29,272 • Q1’26 bought deal added approx
Slide 20: Key Financial Trends
Key Financial Trends Extending growth trajectory as the TRUSense GatewayTM is commercialized and new initiatives are activated (US$ millions) • Record TTM Revenue and $65.0 100% Adjusted EBITDA achievement $59.6 • Gross profit margins $55.0 $54.1 90% expanding well above long- term target of 50% 80%
Slide 21: Annual Recurring Revenue Growth
Annual Recurring Revenue Growth Annual Recurring Revenue growth is providing a durable earnings foundation Annual Recurring Revenue (ARR) - US$M • Growth stems from expanding our user community, commercializing $16.0 analytics tools, renewing annual $15.0 $14.5 service agreements and deploying addit
Slide 22: Disciplined Approach to Capital Allocation
Disciplined Approach to Capital Allocation Prioritizing opportunities that strengthen market position and generate attractive long-term returns ✦ Product Innovation TRUSense Gateway Case Study Invest in differentiated solutions such as TRUSense Gateway and TRUGrid analytics offerings that expand add
Slide 23: Why Invest in Tantalus?
Why Invest in Tantalus? Durable Demand to Drive Scalable Growth Structural Tailwinds Proven Platform with Scalable Growth With Driving Durable Demand Embedded Customer New & Existing Base Customers • Electrification, DERs, and grid • Validated sales model that • TRUSense GatewayTM enables new comple
Slide 24: Questions?
QUESTIONS? tantalus.com deborah@adcap.ca TSX:GRID, OTCQX:TGMPF
Slide 25: Appendix
©)Tantalus APPENDIX
Slide 26: Management
Executive Leadership Team Management Peter Londa Azim Lalani Michael Grandis Michael Julian Tom Allen Leena Al-Hajjar President & CEO CFO Chief Legal & CRO EVP, Product Chief People & Board Member Administrative Officer Development Culture Officer Board of Directors Laura Formusa Dr. Francis Harvey
Slide 27: Capitalization Overview
Capitalization Overview $7.00 1,400,000 Shareholders $6.00 1,200,000 7% $5.00 1,000,000 27% $4.00 800,000 66% $3.00 600,000 $2.00 400,000 $1.00 200,000 $0.00 0 Institutional Directors & Executives Retail 06-30-2025 08-31-2025 10-31-2025 12-31-2025 02-28-2026 04-30-2026 06-30-2026 08-31-2026 TSX:GRID
Slide 28: Non-IFRS Measures
NON-IFRS MEASURES Reconciliation of Loss to Adjusted EBITDA for the period Three months ended June 30, Six months ended June 30, 2026 2025 2026 2025 Loss for the period $ (1,005) $ (903) $ (1,410) $ (1,554) Interest income (193) - (338) - Finance expense 247 360 488 722 Income tax expense 127 32 194
Tantalus Systems Holding — Investor Presentation (September 2026) on 6ix