Anaergia, Inc. · TSX:ANRG
Anaergia — Q4 2025 Earnings Presentation
21 slides from Anaergia's earnings presentation, Mar 26, 2026
Slide 1: Anaergia Reports Fourth Quarter and Year End 2025 Financial Results
Anaergia Inc. Anaergia Reports Fourth Quarter and Year End 2025 Financial Results - Investor Conference Call March 26, 2026 TSX: ANRG OTCQX: ANRGF Fueling a Sustainable World
Slide 2: Participating in Today's Call
PARTICIPATING IN TODAY’S CALL Assaf Onn Chief Executive Officer Greg Wolf Dr. Yaniv Scherson Chief Financial Officer Chief Operating Officer 2
Slide 3: Disclaimers
DISCLAIMERS Forward-Looking Information Certain statements in this presentation and certain oral statements made by senior management during the earnings conference call on March 26, 2026 (collectively, this "presentation") are “forward-looking information” within the meaning of applicable Canadian
Slide 4: 2025: A Historic Year
2025: A HISTORIC YEAR 2025 A historic year for Anaergia 4
Slide 5: A Year Ago, We Set Clear Priorities
A YEAR AGO, WE SET CLEAR PRIORITIES Delivered 61% revenue growth and positive Improve execution Adjusted EBITDA(1) Gross profit grew plus 80% - margin discipline Operate with greater discipline holding Focus the business Revenue Backlog(1) reached $257M – up 149% year- over-year "Adjusted EBITDA" an
Slide 6: Full Year 2025 Year-over-Year Results
FULL YEAR 2025 YEAR-OVER-YEAR RESULTS $180M +82% $257M 2x+ + +61% YoY +149% Q4 REVENUE GROSS PROFIT REVENUE BACKLOG Q4 REVENUE Full year revenue Gross profit growth Year-end Revenue Backlog(1) Q4 revenue vs prior year "Adjusted EBITDA" and “Revenue Backlog” are non-GAAP measures. Please refer to the
Slide 7: Q4 2025: Strong Finish
Q4 2025: STRONG FINISH Revenue more than Doubled Compared to Q4 of the prior year – the clearest signal yet of the turnaround 7
Slide 8: A Unique Company – The Full Value Chain
A UNIQUE COMPANY – THE FULL VALUE CHAIN INPUT Energy PROCESS Renewable natural gas and biogas for heat & power Organic Anaergia Waste Technology Clean Water Water returned safely to communities Municipal wastewater, Vertically integrated food waste, and technology, EPC, and operations – full control
Slide 9: Our Direction
OUR DIRECTION 1 We had a clear plan 2 We executed with discipline 3 We will continue building this infrastructure at scale 9
Slide 10: Q4 & Year-End 2025 Financial Results
Q4 & YEAR-END 2025 FINANCIAL RESULTS Q4 Q4 QoQ YE YE YoY ($CAD millions) 2025 2024 Change 2025 2024 Change Revenues $71.7 $34.1 111% $180.2 $111.6 61% Gross profit $16.1 $9.0 79% $46.8 $25.6 82% Gross margin 22.5% 26.4% (4) pts 26.0% 23.0% 3 pts SG&A, net $14.6 $18.6 (22)% $60.0 $66.8 (10)% Net Inco
Slide 11: Revenue Backlog Growth
REVENUE BACKLOG GROWTH 149% Revenue Backlog(1) Snapshot 300 Over Q42024 250 $287M $257M • $217M in Capital Sales 200 $244M • $39M in O&M Services 150 100 Revenue Backlog is defined as the balance of unrecognized, undiscounted, consolidated revenues $103M from signed contracts in our Capital Sales an
Slide 12: BOO 2025 Context & 2026 Opportunity
BOO 2025 CONTEXT & 2026 OPPORTUNITY EVALUATING RAMPING CATALYST Charlotte Rhode Island Bioenergy SoCal Biomethane Facility Idled Restart Underway SB 1440 Award Operations remained paused during Dewatering work completed during the First project expected to supply RNG 2025. Anaergia continues to eval
Slide 13: Strengthening Financial Performance
STRENGTHENING FINANCIAL PERFORMANCE Margin Positive Adjusted Revenue Improvement EBITDA Backlog Meaningful progress strengthening Delivered positive Adjusted EITDA. -- Significantly expanded Revenue the business and improving margins a key milestone reflecting strong Backlog(1), setting the stage fo
Slide 14: 2025 at a Glance
2025 AT A GLANCE 2×+ REVENUE BACKLOG 3 $184M+ GROWTH REGIONS SPAIN FRAMEWORK Year-over-year Revenue Multiple customer segments and Largest multi-project commitment Backlog(1) more than doubled delivery models across Europe, to date: 15+ facilities by end of 2025 North America & APAC ALL O&M Repeat M
Slide 15: Europe – Repowering Momentum
EUROPE – REPOWERING MOMENTUM Significant scale achieved across Spain and Italy, building on the RePower EU framework SPAIN ITALY $184M+ $68M Framework agreement – 15+ biomethane facilities Multi-project platform contract $60M+ $36M+ Multi-project agreement Expanded contract from 5 to 7 facilities Fi
Slide 16: Americas & APAC – Expanding Scope
AMERICAS & APAC – EXPANDING SCOPE AMERICAS • $52M East County Advanced Water Purification Joint Powers Authority (Southern California) – including expanded project scope • $39M conditional EPC financing secured for Riverside, California, plus incremental O&M revenue • PepsiCo partnership expanded in
Slide 17: Capital-Light Delivery Model
CAPITAL-LIGHT DELIVERY MODEL 1 2 3 Technology EPC O&M Supply Delivery Proprietary technology at core of Turnkey and custom engineering, Long-term operations and every project – enabling procurement & construction maintenance contracts generate differentiation and margin retention executed via our ve
Slide 18: Global Market Tailwinds
GLOBAL MARKET TAILWINDS RNG incentive schemes generating strong market pull across all operating regions ITALY U.K. National Recovery & Resilience Plan Green Gas Support Scheme Long-term government-backed tariffs + capital grants Long-term government-backed tariffs for RNG stimulating biogas project
Slide 19: Summary & Outlook
SUMMARY & OUTLOOK 2025: A Year of Significant Progress Commercial Results 1 Major bookings secured across all regions. Revenue Backlog(1) more than doubled year-over-year. New and repeat customers expanding across multiple geographies. Capital-Light Execution 2 Continued execution of technology supp
Slide 20: Delivering the Plan
DELIVERING THE PLAN “We said we would do this. And we did.” — Assaf Onn, CEO 20
Slide 21: Thank you
Thank you 21