Liqtech International, Inc. · NASDAQ:LIQT
Liqtech International — Investor Presentation (September 2026)
29 slides from Liqtech International's investor presentation, September 2026
Slide 1: Investor Presentation
Investor Presentation Advanced silicon carbide membrane filtration for the world's most demanding water and emission challenges NASDAQ: LIQT September 2026
Slide 2: Forward-Looking Statements and Non-GAAP Measures
IMPORTANT INFORMATION Forward-Looking Statements and Non-GAAP Measures General This presentation has been prepared by LiqTech International, Inc. (“LiqTech” or the “Company”) for informational purposes only. It does not constitute an offer to sell or a solicitation of an offer to buy securities. The
Slide 3: A Danish Clean-Technology Manufacturer Listed on Nasdaq
LIQTECH AT A GLANCE A Danish Clean-Technology Manufacturer Listed on Nasdaq Silicon carbide membranes and filtration systems, sold primarily into six end markets across Europe, North America and Asia $16.5M $20–23M $15.7M Debt-free 2000 ~$6 Billion FY 2025 revenue, +13% y/y FY 2026 revenue guidance
Slide 4: Why LiqTech, and Why Now
INVESTMENT HIGHLIGHTS Why LiqTech, and Why Now A differentiated filtration platform, a recapitalized balance sheet and a revenue mix shifting toward shorter-cycle, standardized end markets 01 02 03 Proprietary Technology Standardized, Short-Cycle Platforms Commercial Proof Points Are • Patented sili
Slide 5: Manufacturing in Denmark, Service Where the Customers Are
GLOBAL FOOTPRINT Manufacturing in Denmark, Service Where the Customers Are Membranes are made in Denmark; systems are assembled, delivered and serviced through regional operations and partners across Europe, North America and Asia 3 131k 3 300+ 170+ Production and assembly sites Square feet of owned
Slide 6: Silicon Carbide Is a Fundamentally Tougher Membrane
TECHNOLOGY Silicon Carbide Is a Fundamentally Tougher Membrane Ceramic SiC withstands conditions that degrade polymeric membranes, which is why it wins in hot, oily, abrasive and chemically aggressive water Unmatched Flux Chemically Inert Higher throughput per unit of membrane area Tolerates aggress
Slide 7: From Membrane to System to Aftermarket
BUSINESS MODEL From Membrane to System to Aftermarket Owning the membrane lets us capture value at every layer, and each installed system creates a recurring replacement and service stream Membranes & Filters Engineered Systems Aftermarket & Service Patented SiC membranes and DPFs manufactured in St
Slide 8: Commercial Prioritization and Addressable Market
MARKET OPPORTUNITY Commercial Prioritization and Addressable Market LiqTech commercial prioritization gameboard (size of bubble = market value; dark blue is LiqTech current focus segments) Microelectronics Advanced preference Commercial Chemicals ~$6 Pools & Pharma LiqTech Addressable Market billion
Slide 9: Six Business Areas Built on One Membrane Platform
PORTFOLIO Six Business Areas Built on One Membrane Platform Two growth engines, two selective higher-variance opportunities, and a foundation of component and filter sales TTM Q2 2026 Revenue Aquatics GROWTH ENGINE Municipal, school and leisure-center aquatic facilities, plus hotel, resort and compe
Slide 10: Shifting the Mix Toward Shorter, More Standardized Sales Cycles
STRATEGY Shifting the Mix Toward Shorter, More Standardized Sales Cycles Weighting the business toward end markets where the system is configured rather than designed, the sales cycle is measured in months, and the order converts predictably WHAT WE HAVE LEARNED HOW WE ARE RESPONDING Long projects r
Slide 11: A Configured System With a Short Sales Cycle
BUSINESS AREA — AQUATICS A Configured System With a Short Sales Cycle Standardized systems, a straightforward value proposition, and each installation seeds the surrounding market LiqTech QlariFlow Aquatics revenue, $ millions $1.5 GO TO MARKET $1.0 $0.8 $0.8 • Distributor-led, with local partners i
Slide 12: Rebuilt Around a China Joint Venture
BUSINESS AREA — MARINE Rebuilt Around a China Joint Venture Local engineering, sourcing, assembly and service in the market where the ships are built, with membranes still made in Denmark Scrubber, iCER and EGR Water Treatment Marine revenue, $ millions $0.8 $0.7 GO TO MARKET $0.4 • Nantong JiTRI Li
Slide 13: The Near-Term Opportunity Is Becoming Tangible
BUSINESS AREA — WATER FOR INDUSTRY The Near-Term Opportunity Is Becoming Tangible Selected industrial applications where the technology fit is clear and the same standardized system can be deployed repeatedly LiqTech QureFlow Water for Energy & Industry revenue (combined), $ millions $2.2 GO TO MARK
Slide 14: Significant Prize, Customer-Controlled Timing
BUSINESS AREA — WATER FOR ENERGY Significant Prize, Customer-Controlled Timing We have not changed our view of the opportunity; we have changed how much of it we underwrite in any single year Produced and Process Water Treatment GO TO MARKET • Pursued through strategic commercial partnerships that c
Slide 15: The Manufacturing Base Beneath the Growth Story
BUSINESS AREA — DPF, MEMBRANES & PLASTICS The Manufacturing Base Beneath the Growth Story Component and filter demand keeps the Denmark plant loaded and provides a steadier base of customer activity DPFs, Membranes and Plastic Components DPF, membranes and plastics revenue, $ millions $2.5 $2.3 $2.0
Slide 16: Commercial Proof Points Across Three Continents
MOMENTUM Commercial Proof Points Across Three Continents Orders and installations over the last two quarters, and a balance sheet reset in the middle of it WHERE BUSINESS AREA WHAT Q1 2026 Den Helder, NL Aquatics Large-scale aquatics system ordered in partnership with Lotec Q1 2026 Plumpton, AU Aqua
Slide 17: One Membrane Platform, Many Markets, Faster to Revenue
THE TAKEAWAY One Membrane Platform, Many Markets, Faster to Revenue The silicon carbide membrane that survives produced water also cleans a swimming pool. That is what makes this a platform rather than a product. A Platform, Not a Product Scalable Without Scaling Increasingly Recurring Shorter Time
Slide 18: Financials
Financials improving our future
Slide 19: Systems and Aftermarket Is Now the Largest Segment
REVENUE MIX Systems and Aftermarket Is Now the Largest Segment Systems & Aftermarket Filters & Membranes Components $2,7 $2,4 $2,4 $2,0 $1,9 $1,8 $1,8 $1,7 $1,6 $1,4 $1,3 $1,3 $1,3 $1,2 $1,1 $1,1 $1,0 $1,0 $1,0 $1,0 $1,0 $1,0 $0,9 $0,9 $0,9 $0,9 $0,9 $0,8 $0,7 $0,7 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'2
Slide 20: Operating Expenses and Gross Margin by Quarter
OPERATING LEVERAGE Operating Expenses and Gross Margin by Quarter OPERATING EXPENSES GROSS MARGIN $9.7M $9.6M $5.4M 1.7% 7.6% 8.9% FY 2024 FY 2025 H1 2026 FY 2024 FY 2025 H1 2026 19.6% $2.8 $2.7 $2.7 16.0% $2.6 $2.6 $2.3 $2.4 $2.3 $2.2 9.8% 9.5% 8.4% $2.1 6.4% 2.7% 0% -3.4% -8.5% -15.5% $0.0 Q1'24 Q
Slide 21: Adjusted EBITDA by Quarter
PROFITABILITY Adjusted EBITDA by Quarter $(6.1)M $(5.0)M $(5.5)M FY 2024 FY 2025 TTM at Q2 2026 $0.00 $(0.51) $(1.18) $(1.26) $(1.27) $(1.37) $(1.53) $(1.64) $(1.71) $(1.88) $(1.95) Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Adjusted EBITDA, $ millions; Fiscal year ends December 31.
Slide 22: Balance Sheet and Capitalization
FINANCIAL POSITION Balance Sheet and Capitalization BALANCE SHEET HIGHLIGHTS CAPITALIZATION ($ USD) 6/30/2026 Amount Cash and restricted cash $15,655,731 Common shares outstanding (6/30/26) 32,947,841 Accounts receivable, net $5,231,000 Cash and restricted cash $15,655,731 Inventories, net $5,957,00
Slide 23: FY 2026 Guidance and Our 2027 and 2028 Goals
OUTLOOK FY 2026 Guidance and Our 2027 and 2028 Goals 2027 GOAL $20 – $23M ~40% revenue growth $16.5M Positive Adjusted EBITDA and meaningful progress toward $14.6M EBIT break-even 2028 GOAL ~40% revenue growth EBIT and Free Cash Flow positive FY 2024A FY 2025A FY 2026F Revenue, $ millions. Revised F
Slide 24: The Path to Consolidated Profitability
THE INVESTMENT THESIS The Path to Consolidated Profitability GROW THE STANDARDIZED LIFT GROSS MARGIN HOLD THE COST DEPLOY CAPITAL PLATFORMS THROUGH SCALE AND MIX BASE FLAT SELECTIVELY • Pool and Marine convert in months; • Fixed production cost is not fully • Operating expenses roughly flat FY • App
Slide 25: Investment Summary
IN SUMMARY Investment Summary One proven membrane platform, six end markets, a recapitalized balance sheet and a stated path to profitability Proprietary Technology Standardized, Short-Cycle Platforms Proof Points Are Compounding Patented silicon carbide membranes made in Denmark, QlariFlow and Qure
Slide 26: Appendix
Appendix improving our future
Slide 27: Reconciliation of Net Loss to Adjusted EBITDA
APPENDIX Reconciliation of Net Loss to Adjusted EBITDA $ in thousands Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Net loss $(2,388) $(2,112) $(2,841) $(3,005) $(2,358) $(2,161) $(1,460) $(2,623) $(2,725) $(3,052) Income tax benefit $(14) $(14) $(10) – – – – – – – Total other expense
Slide 28: Definitions of Non-GAAP Financial Measures
APPENDIX Definitions of Non-GAAP Financial Measures EBIT Net loss adjusted for total other income (expense) and income tax benefits or expenses. EBIT is equivalent to loss from operations. EBITDA EBIT further adjusted for depreciation and amortization and amortization of right-of-use assets. Adjuste
Slide 29: Contact
Contact Fei Chen President & Chief Executive Officer LiqTech International, Inc. · +45 4498 6000 · info@liqtech.com Robert A. Blum Investor Relations — Lytham Partners (602) 889-9700 · liqt@lythampartners.com Industriparken 22C, 2750 Ballerup, Denmark · Nasdaq: LIQT · www.liqtech.com improving our f
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