Anaergia, Inc. · TSX:ANRG
Anaergia — Investor Presentation (May 2025)
54 slides from Anaergia's investor presentation, May 2025
Slide 1: Anaergia Investor Presentation
TSX: ANRG Fueling a Sustainable World TM OTCQX: ANRGF Anaergia Investor Presentation May 2025 1
Slide 2: Forward Looking Statements
Forward Looking Statements Forward-Looking Information Certain statements in this presentation and certain oral statements made by senior management during the presentation (collectively, this "presentation") are “forward-looking information” within the meaning of applicable Canadian securities laws
Slide 3: Table Of Contents
Table Of Contents 1 Anaergia Overview 2 Anaergia 2.0 3 Anaergia Technology to Delivery 4 Market Opportunity 5 Key Financial Highlights 3
Slide 4: Anaergia Overview
• Anaergia Overview From Technology To Delivery — Anaergia’s End-to-End Capabilities Drive Global Leadership In Waste-to-Value 4
Slide 5: From Waste to Value: The Anaergia Opportunity
From Waste to Value: The Anaergia Opportunity Of the 1.1°C by which humans have warmed the earth, 0.5°C is due to methane emissions* GLOBAL METHANE EMISSIONS IN 2018. METHANE RETAINS 24.9 B 84X TONS OF CO2E6 MORE HEAT THAN CO 2 EQUIVALENT WASTES Source-Separated Organics & Organic Fraction of WHERE
Slide 6: A True Circular Economy
A True Circular Economy We create a circular economy by converting waste into products of renewable fuel, fertilizers and clean water Waste Water Sludge & Food Waste 6
Slide 7: Delivering Clean Energy Solutions Across Continents
Anaergia: Delivering Clean Energy Solutions Across Continents Anaergia Integrated Systems Anaergia Japan Escondido (CA) Riverside (CA) Mohave (CA) SoCal Biomethane (CA) 7
Slide 8: Delivering What the Sector Demands: Experience. Scale. Innovation.
Delivering What the Sector Demands: Experience. Scale. Innovation. Unparalleled Experience In-House Manufacturing Anaergia is transforming the way [Insert Photo] Anaergia footprint is worldwide [Insert Photo] the world handles organic waste — with in-house manufacturing of converting all forms into
Slide 9: Methane Conversion from Waste into High-Value Products
Methane Conversion from Waste into High-Value Products Anaergia’s end-to-end RNG proprietary technology platform addresses multiple waste markets Anaergia Advantage 250+ ACTIVE & • OREX® technology processes unsorted PENDING municipal solid waste (MSW) to extract PATENTS clean organics • Omnivore® a
Slide 10: Anaergia RNG: A Ready-to-Use, Carbon-Negative Fuel
Anaergia RNG: A Ready-to-Use, Carbon-Negative Fuel Anaergia converts methane-emitting waste into carbon-negative renewable natural gas that is chemically identical to fossil-based natural gas and does not require major incremental distribution infrastructure Average Carbon Intensity ("CI") Score Awa
Slide 11: Vertically Integrated Business – Our Segments
Vertically Integrated Business – Our Segments Capital Sales • Sales of proprietary technology solutions, Proprietary Anaergia equipment, and services to third parties Waste-to-Energy Technologies • Variety of delivery methods • Benefits from short sales cycle and quickly establishes references globa
Slide 12: Existing BOO Platform Model
Existing BOO Platform Model Anaergia's projects generate an attractive return on investment driven by tip fees and offtake revenue from a combination of long-term contracted sales and highly lucrative government incentives Anaergia secures long-term contracts with End products including RNG, renewab
Slide 13: Anaergia's Evolution Towards Complete, Integrated Solutions
Anaergia’s Evolution Towards Complete, Integrated Solutions 2021 2023 Restructuring Expanded footprint in East USA. Divestments of Tønder plant Acquired two under-performing (Denmark), Rialto Bioenergy 2020 biogas facilities that will Facility (US), plus 6 Italian BOO undergo technology upgrades fac
Slide 14: Anaergia 2.0
• Anaergia 2.0 14
Slide 15: Anaergia 2.0 – Strategic Backing from Marny Investissement
Anaergia 2.0 – A New Era of Positive Transformation & Growth Strategic Backing from Marny Investissement • Anaergia is supported by the long-term capital and strategic leadership of Marny Investissement S.A., the Company’s majority shareholder • At the helm is Ohad Epschtein, Marny’s beneficial owne
Slide 16: Proven Executive Management with World-Class Experience
Proven Executive Management with World-Class Experience Assaf Onn Dr. Yaniv Scherson Hani Kaissi Chief Executive Officer New Chief Operating Officer Chief Development Officer Joined Anaergia in 2024; over two decades of Joined Anaergia in 2014, led development in Joined Anaergia as CFO in 2010; 25+
Slide 17: Our People. Our Advantage.
Our People. Our Advantage. Execution, accountability, and results — this is what defines Anaergia 2.0 on the ground 17
Slide 18: Anaergia 2.0 – A New Era of Positive Transformation & Growth
Anaergia 2.0 – A New Era of Positive Transformation & Growth 1. Marny’s Transformative Investment • Cash investment of C$40.8 m (3rd Tranche closed July 10, 2024) - significantly strengthened balance sheet • New Management • Refreshed Board with new Chairman • Conversion of all MVS into Common Share
Slide 19: Anaergia 2.0 – New Strategic Direction
Anaergia 2.0 – A New Era of Positive Transformation & Growth 3. …with New Strategic Direction, to Build Shareholder Value • Focus on financial discipline and sustainable and profitable growth from successful core business (Capital Sales) • Deleveraged Balance Sheet • BOOs – strategic, selective, cap
Slide 20: Anaergia 2.0 – Going Concern Note Lifted, Momentum Building
Anaergia 2.0 – A New Era of Positive Transformation & Growth 4. Going Concern Note Lifted • Major inflection point: Able to pursue substantial backlog of previously frozen opportunities • Unlocked ability to secure bonding capacity for new contracts 5. Momentum is Building • Financial results starti
Slide 21: Executing Anaergia 2.0 – Five Strategic Pillars
Executing Anaergia 2.0 – Five Strategic Pillars Capital Sales Focus Strengthen Strategic Operational Geographic Expansion Balance Sheet Partnerships Efficiency Sharin g Targeted project Right-sizing Building on Enhancing Sharing growth in risk of the successful financial project Latin business & cor
Slide 22: Aligned. Accountable. Delivering.
Aligned. Accountable. Delivering. Execution • Consistent follow-through • Clear priorities across Accountability the organization Results • Delivered through disciplined action 22
Slide 23: Commercial Momentum Accelerates
Commercial Momentum Accelerates CAPITAL SALES ABOVE TARGET TECHNOLOGY-LED DEMAND EXECUTION THAT DELIVERS POSITIONED FOR SCALE FROM GLOBAL PARTNERS CUSTOMER TRUST UNDER ANAERGIA 2.0 23
Slide 24: Market Visibility Expands
Market Visibility Expands On February 24 Anaergia Announces Commencement of OTCQX Trading in the U.S. • Enhances visibility, complementing TSX listing • Improves access for U.S. investors • Supports long-term market strategy 24
Slide 25: Positive Momentum & Wins since Marny's Investment
Positive Momentum & Wins since Marny’s Investment August 19, 2024 September 10, 2024 December 10, 2024 April 28, 2025 Share Reclassification Natural Gas Innovation Secures Expansion of Progression in large March 28, 2025 Eliminates Dual-Class Fund Awards Grant Scope w/New Formal Notice to Supply con
Slide 26: Notable 2025 Developments
Notable 2025 Developments Anaergia and East County, California, Advanced Water Purification Joint Powers Authority Expand Project Scope (April 28, 2025) • Anaergia secured a change order to provide more engineering services and supply of equipment as part of an ongoing project located in East San Di
Slide 27: Notable 2025 Developments
Notable 2025 Developments Agreement to Provide Advanced Technologies for Two AD Facilities in Italy Being Developed by QGM (March 31, 2025) • Anaergia signed contracts with entities owned by QGM S.á.r.l. ("QGM") for the building of two new biomethane production plants in Italy. Anaergia’s Italian di
Slide 28: Notable 2025 Developments
Notable 2025 Developments LOI with JGC Holdings Corp. for New RNG Project in Japan (February 20, 2025) • Letter of Intent signed to supply technology and equipment with JGC Holdings Corporation for a new renewable natural gas project in Japan • LOI is for Anaergia to provide feedstock pretreatment s
Slide 29: Notable 2024 Developments
Notable 2024 Developments Supply of Organic Waste to Energy Solution to PepsiCo in Colombia (December 24, 2024) • Technology supply contract with PepsiCo Alimentos Z.F. LTDA (“PepsiCo”) to provide its high-efficiency digestion technology and integrated biogas conditioning and upgrading technology at
Slide 30: Notable 2024 Developments
Notable 2024 Developments Selected to install infrastructure at the Riverside Water Quality Control Plant (October 21, 2024) • To install infrastructure at the Riverside Water Quality Control Plant to enable reception of organic municipal waste from lo cal solid waste collection companies • This con
Slide 31: Anaergia Technology to Delivery
• Anaergia Technology to Delivery 31
Slide 32: Anaergia Technology Portfolio: Why it Matters
Anaergia Technology Portfolio: Why it Matters Anaergia’s end-to-end technology portfolio enables fuel production from a variety of feedstocks and provides our capital sales customers and BOO facilities with integrated, effective technology solutions 1 Expands Feedstock Access Processes virtually any
Slide 33: Select Core Technology Components Manufactured by Anaergia
Select Core Technology Components Manufactured by Anaergia • Designed for integration, Anaergia’s technologies combine as needed to maximize resource recovery and minimize cost • Addresses both technical and economic barriers — Size Reduction Technology Screening & Sorting Equipment Organics Extrusi
Slide 34: Anaergia Captures Organic Waste Regardless of Contamination
Anaergia Captures Organic Waste Regardless of Contamination Contaminated Co-mingled Food & Yard Clean & Packaged Source Separated MSW Waste Food Waste Organics (SSO) Lower Higher Contamination Contamination 34
Slide 35: Capital Equipment Sale: The Sterling Natural Resources Center in California
Capital Equipment Sale: The Sterling Natural Resources Center in California World’s first wastewater plant where 100% of the feed becomes a commercial product and excess energy is exported thanks to Anaergia technology 3.0 MW of renewable electricity 8,000,000 GPD of recycled water ~2,000 TPY of fer
Slide 36: Progress Across Anaergia-Owned Assets
Progress Across Anaergia-Owned Assets • Operating profitably SoCal Biomethane • Upgrades complete • Stable operations RIBF • Clean Fuel Regulation participation • Largest digestion plant in New England • Temporarily idled to improve economics Charlotte • Further investment to increase capabilities R
Slide 37: BOO Project: SoCal Biomethane Facility (California)
BOO Project: SoCal Biomethane Facility (California) Flexible Deployment within Existing Wastewater Infrastructure Replicable Municipal Wastewater Model 130,000 tons /YR Feedstock Throughput Food waste & sludge Feedstock Type Regulatory (SB 1383) & Committed Contracts Feedstock Drivers 310,000 MMBtu/
Slide 38: BOO Project: Rhode Island Bioenergy Facility (RIBF)
BOO Project: Rhode Island Bioenergy Facility (RIBF) (Rhode Island) Largest organic waste digester in New England 90,000 tons /YR Feedstock Throughput SSO (solids & liquids) Feedstock Type Portfolio of Suppliers Feedstock Drivers 315,000 MMBtu/YR of RNG 10 years with Irving Oil Offtake Contract Opera
Slide 39: BOO Project: Charlotte Bioenergy Facility (North Carolina)
BOO Project: Charlotte Bioenergy Facility (North Carolina) Regional food processor waste recycling plant Power to RNG Development Asset 550,000 MMBTU/year of ultimate capacity 39
Slide 40: BOO Project: Riverside Bioenergy Facility (California)
BOO Project: Riverside Bioenergy Facility (California) Leveraging existing feedstock and wastewater infrastructure to expand for pipeline RNG RNG Development Asset Food waste and Sewage Sludge Feedstock Captive Feedstock in Region with Regulatory Driver 310,000 MMBtu/YR of RNG 40
Slide 41: Market Opportunity
• Market Opportunity 41
Slide 42: Diversion from Landfills Drives Food Waste Volume for Anaergia
Diversion from Landfills Drives Food Waste Volume for Anaergia Regulatory advancements and market drivers in North America are presenting new opportunities for RNG offtake and waste diversion projects Market Driven Organics Diversion • Landfill tip fees are increasing, driving a push to divert organ
Slide 43: Municipal Wastewater Anaerobic Digestion Market
Municipal Wastewater Anaerobic Digestion Market Anaergia Delivers Turnkey Solutions to Retrofit or Build Digesters at Lower Capital Costs and Greater Operational Efficiency Market • <10% of Wastewater Treatment Plants have Anaerobic Digesters (~1,270 nationally) • >13,000 Wastewater Treatment Plants
Slide 44: Market Leader in Serving Municipalities with Alternative Delivery Models
Market Leader in Serving Municipalities with Alternative Delivery Models Client: East Valley Water District CLIENT: HALE AVENUE RESOURCE Location: Highland California RECOVERY FACILITY (HARRF) Delivery: Supply LOCATION: ESCONDIDO, CA DELIVERY: DBOOF CLIENT: VICTOR VALLEY WATER RECLAMATION CLIENT: CI
Slide 45: European Market Conditions Continue to Improve
European Market Conditions Continue to Improve With high underlying gas prices, attractive waste feedstock availability and expanding RNG targets, the outlook for Anaergia's European operations is strong Feedstock availability is bolstered by EU Policies EU 2030 Target for Landfill & Incinerated Was
Slide 46: Over 4.9 bcm of Biogases Produced in Europe in 2024
Over 22 bcm of Biogases Produced in Europe in 2024 4.9 bcm* Biogas and biomethane production in Europe 25 of biomethane produced 22 in Europe 20,2 21 19,7 About 2% of the overall 20 18,9 17,3 17,6 methane consumption in 16,2 17 Europe 15 14,7 13,4 11,7 10 7,3 > 1500 Biomethane producing 5 facilities
Slide 47: Biomethane potential (bcm/yr) by country
Biomethane potential (bcm/yr) 68 33 101 EU-27 Anaerobic digestion Thermal gasification 37 74 111 EU-27+3 EU Vision – Goal for 2040 0 8 2 4 6 10 16 12 14 Germany France Spain Italy Poland Sweden Romania Finland Hungary Austria Czechia Portugal Bulgaria Netherlands Greece Denmark Ireland Belgium Latvi
Slide 48: Significant Growth Opportunities in Asia
Significant Growth Opportunities in Asia Anaergia has early market mover advantage in Asia — one of the few international biogas players with local team on the ground Organic Feedstocks are Widely Available • High organics content in municipal solid waste • High annual production of Agri-Wastes Emer
Slide 49: Key Financial Highlights
• Key Financial Highlights
Slide 50: Q1 2025 Financial Results (reported in $CAD)
Q1 2025 Financial Results (reported in $CAD) APAC ($CAD millions) Q1 2025 Q1 2024 5% EMEA Other 13% Revenues 24.9 24.9 Gross profit 5.4 6.5 Gross margin 21.7% 26.0% Italy 14% SG&A, net 17.2 16.6 Net Loss (5.9) (11.5) Adjusted EBITDA(1) (3.9) (6.0) NA 68% REVENUE BY REGION (1) "Adjusted EBITDA" is a
Slide 51: Q1 2025 Financial Results (reported in $CAD)
Q1 2025 Financial Results (reported in $CAD) Q1 2025 Financial Results (reported in $CAD) Operating Results • Q1 2025 Revenue: decreased slightly by 0.4%, to $24.9M • Q1 2025 Gross profit: decreased by 16.6%, or $1.1M, to $5.4M • Q1 2025 Gross margins: declined to 21.7% or 4.3 percentage points • Q1
Slide 52: Revenue Backlog
Revenue Backlog Revenue Backlog Snapshot 250 • $182.4M in Capital Sales 200 94% • $17.6M in O&M Services $200M 150 • Refined conservative definition: • Signed Capital Sales Contracts • 3 years of modeled 100 $103.1M O&M 50 0 Q4 2024 Q1 2025 52
Slide 53: Financial Instrument
Financial Instrument • On February 5 Anaergia Entered Into New Line of Credit • Features: ✓ New $13.9M credit facility with RBC ✓ Guaranteed by Export Development Canada ✓ Supports Letters of Credit for Capital Sales ✓ Valid through January 2027 53
Slide 54: Questions?
Questions? FUEL WASTE 4545 54