Econergy Ltd · TASE:ECNR
Econergy — Q1 2026 Earnings Presentation
28 slides from Econergy's earnings presentation, May 2026
Slide 1: Econergy Q1-2026 investors presentation
OPEN & CLOSE SLIDE Econergy Q1-2026 investors presentation May 2026
Slide 2: Limitation of liability
Investors Limitation of liability Presentation Q1-26 The purpose of this presentation is to present Econergy Ltd. (the "Company”) and it is Company's control. The Company does not declare or guarantee the completeness, intended for the provision of information only. This presentation does not consti
Slide 3: A leading European IPP
Investors A leading European IPP Presentation Q1-26 Four focus areas at the core of our strategy Local developer DNA Fast and disciplined growth 50+ development professionals on the ground, with 1-2 GW of annual build-out, supported by a high-quality, 80% of headcount in target markets, driving exec
Slide 4: Large scale portfolio supporting growth forecasts
Investors Large scale portfolio supporting growth forecasts Presentation Q1-26 A leading EU platform * 12.5GW Advanced portfolio: connected, ready to connect, under construction 3.3 and pre-construction 3.5 5.6 1.6 12.5 3.5 12 months to 1.3 construction 0.6 Connected & Under construction Pre-constru
Slide 5: Accelerated growth in connections and construction
Investors Accelerat ed growth in connections and construction Presentation Q1-26 Advancing to the next growth phase with 1-2 GW of annual construction starts Connected and under construction (GW) (1) Connected & ready to connect 5.7 Under construction CAGR 4.5 2.0 +50% 2.1 3.0 2.0 1.7 3.7 0.9 1.3 2.
Slide 6: Advanced portfolio with demonstrated growth
Investors Advanced portfolio with demonstrated growth Presentation Q1-26 Strong growth in advanced portfolio: 60% 4.5 +60% CAGR over the period(1) 3.5 1.5 Anchor for growth acceleration: supports 1.6 visibility & strengthens growth foundation 1.7 1.7 Execution pipeline as a catalyst: expands 0.8 1.3
Slide 7: Advanced portfolio with €280M revenues
Investors Advanced portfolio with €280M revenues (company share) (1) Presentation Q1-26 Advanced portfolio 12.5GW connected, ready to 3.3 connect, under construction and 3.5 5.6 pre-construction 1.6 1.3 1.3 0.6 Connected & Under construction* Pre-construction Advanced portfolio Advanced development
Slide 8: Strong growth expected in EU electricity demand
Investors Strong growth expected in EU electricity demand, Presentation Q1-26 alongside a material shift in its mix European electricity demand: expected to Past vs. f orecasted EU electricity demand by segment grow by 36% by 2035(1, 5) 2025-2035 (TWh) 4.5 Existing uses expected to grow slowly (~0.5
Slide 9: EU power market transformation creating challenges
Investors Presentation Q1-26 EU power market transformation creating chall enges 1 Europe embraces 2 Renewables create 3 The solution - Storage as renewables challenges a baseload replacement Renewables as a share of total More hours with negative prices Bridges the supply -demand gap electricity ge
Slide 10: Storage enables significant operational optimization
Investors Presentation Q1-26 Storage enables significant operational optimization Significant advantages Diverse long term agreements providing revenue certainty of storage Leveraging diverse revenue streams, Tolling Floor Capacity market PPA including merchant exposure, to Long-term lease of Revenu
Slide 11: Econergy with a leading position in energy storage
Investors Presentation Q1-26 Econergy with a leading position in energy storage Well diversified, Significant Strong Advanced Portfolio With market-tailored storage portfolio ramp-up forecast (1) strategy (7) 4.6 Connected & 4.2 RfC 0.1 Co-location across the portfolio to enhance returns and add hed
Slide 12: Growing results and strong visibility from the advanced portfolio
Investors Growing results and strong visibility from the Presentation Q1-26 advanced portfolio Electricity sales r esults forecast, 100% in Millions (1, 2, 3) Exclud ing revenues from asset management services, construction services, and development disposals Revenues EBITDA FFO 376 (277) 301 (222)
Slide 13: Financial strength coupled with disciplined policies
Investors Financial strength coupled with disciplined policies Presentation Q1-26 Equity Debt 40% Significant fundraising of €220m Balanced mix of sources through since beginning of 2026* capital, bonds, project financing Debt to equity ratio Stable A3.il rating by Midroog Increase in equity of €63m
Slide 14: Appendixes
dividers Appendixes
Slide 15: Romania: market leadership, storage integration
Investors Romania: market leadership, storage integration Presentation Q1-26 Leading player in RO market Co-location strategy Positive macro developments A leading early mover in the Romanian Storage integration with s ignificant Maturing market with regulatory and market (GW)(1) benefits (1) commer
Slide 16: UK: storage-focused strategy in a renewables led market
Investors UK: storage-focused strategy in a renewables led Presentation Q1-26 market An early storage player in the UK, a market with strong storage fundamentals High renewables penetration increases Our portfolio is storage-led (MW), With meaningful near-term growth volatility and negative-price ho
Slide 17: Germany: opportunistic storage entry at scale
Investors Germany: opportunistic storage entry at scale Presentation Q1-26 The opportunity - Significant market entry(1) storage 2025 2026 2027 2028 Significant renewables 100 mw penetration causing volatility 0.5GW under 57% 435 mw construction 44 within a year 36 25 End of dev. Construction Operat
Slide 18: Poland: robust pipeline with strong revenue visibility
Investors Poland: robust pipeline with strong revenue visibility Presentation Q1-26 Significant portfolio in various stages of maturation (MW)(1) Distribution License (DSO) 164 DSO license secured for Resko, Under construction Significant growth expected 147 enabling independent distribution Connect
Slide 19: Italy: market with significant potential
Investors Italy: market with significant potential Presentation Q1-26 A renewables platform in Italy with meaningful potential Significant renewables Significant growth expected in penetration Italy (MW) (1) Renewables as a share of total electricity generation Italy is a key growth market for 38% 5
Slide 20: Ownership structure and strategic partner investments
Investors Ownership structure and strategic partner Presentation Q1-26 investments Founders: Stakeholders: Eyal Podhorzer & Yoav Shapira Econergy Ltd. ECNR :TASE 77.11% Econergy International Limited (UK) (Holding Company) 22.89% מצטברת של השקעת הון IG Fund RGreen Invest אירוCumulative מילי
Slide 21: Balanced geographic diversification across key EU markets
Investors Balanced geographic diversification across key EU Presentation Q1-26 markets Germany 5 projects Poland UK 16projects 450MW 31projects Development 431MW 435MW 1,351MW Advanced development 728MW 100MW 951MW Pre-construction 559MW 985MW 105MW 148MW 52MW Under construction 50MW 2,459MW Operati
Slide 22: Supportive macro environment
Investors Presentation Q1-26 Supportive macro environment Electricity Price Forecast for PV in Euro per MWh (14) Romania Italy Poland The forecast assumes a 100 80 120 decline in European PV 60 100 80 power prices over the 80 60 next decade, driven by 40 60 lower fuel prices and 40 20 40 rising rene
Slide 23: Consolidated Balance sheet as of 31.03.26
Investors Consolidated Balance sheet as of 31.03.26 (€ millions) Presentation Q1-26 31.03.2026 31.12.2025 Total Current Assets 264 120 Total Non-Current Assets 1,053 986 Total Assets 1,317 1,106 Total Current Liabilities 125 136 Total Non-Current Liabilities 690 530 Total Liabilities 815 666 Total E
Slide 24: Consolidated P&L as of 31.03.26
Investors Consolidated P&L as of 31.03.26 (€ millions) Presentation Q1-26 31.03.2026 31.03.2025 Total revenues 6 32 Total expenses (13) (7) Operating profit (loss) (7) 25 Finance income (expenses) (11) 1 Profit (loss) before tax )18( 26 Income (taxes), benefits 0 0 Profit (loss) after tax )18( 26 ~€
Slide 25: ESG - milestones and objectives
Investors ESG - milestones and objectives Presentation Q1-26 Econergy and its stakeholders pledge to adopt a corporate responsibility policy that Aligned with international encompasses environmental, economic, and social dimensions, recognizing their importance for reporting standards: the business'
Slide 26: Non-GAAP Index Definitions
Non-GAAP Index Definitions Investors Presentation Q1-26 EBITDA, FFO and FCF for the Company’s projects are Non-GAAP measures (i.e., non-accounting measures) and are not prepared in accordance with accounting standards. Certain companies are held (or expected to be held) with third-party partners, as
Slide 27: Footnotes
Footnotes Investors Presentation Q1-26 1. The Company’s estimates include forward-looking information, as of the date of publication of the next quarterly financial statements. 2. Average Revenues, Ebitda and FFO, from electricity sales only, are presented for the first five full years of commercial
Slide 28: Thank you
OPEN & CLOSE SLIDE Thank you