Slide 1: Investor presentation: 6M 2025 results
Investor presentation: 6M 2025 results 13 August 2025
Slide 2: Legal notice
Investor presentation / Legal notice Legal notice This document has been prepared by AB “Ignitis grupė” (hereinafter – Ignitis Group) solely for informational purposes and must not be relied upon, disclosed or published, or used in part for any other purpose. The document should not be treated as in
Slide 3: Agenda
Investor presentation / Agenda Agenda 1. Strategic highlights 4 2. Financial highlights 9 3. Outlook 2025 19 Darius Maikštėnas, CEO 4. Supplementary information 22 Jonas Rimavičius, CFO 3 /38
Slide 4: Strategic highlights
Investor presentation / Strategic highligts Strategic highlights 4 /38
Slide 5: Highlights
Investor presentation / Strategic highlights Highlights Solid results and continued strategy delivery, highlighted by the launch of 313.7 MW Kelmė wind farm, the largest in the Baltics. Full-year 2025 Adjusted EBITDA and Investments guidance reiterated Strong results enabled by Focused strategy driv
Slide 6: Secured Capacity: portfolio update
Investor presentation / Strategic highlights Secured Capacity: portfolio update 3.4 GW, out of which 1.8 GW – Installed Capacity Secured Capacity portfolio split By technology Secured Capacity portfolio Biomass & WtE BESS GW 0.3 GW 0.1 GW Solar Hydro 0.5 GW 3.4 1.1 GW 3.4 GW +0.3 GW 3.1 3.1 0.7 Secu
Slide 7: Business segments initiatives update
Investor presentation / Strategic highlights Business segments initiatives update Consistent strategy execution across all business segments Green Capacities Networks Reserve Capacities Customers & Solutions COD reached at: Installed smart meters: Win in Polish capacity Regulation of new Increase in
Slide 8: Sustainability initiatives update
Investor presentation / Strategic highlights Sustainability initiatives update Focus on sustainability and people remains as we expand green generation and help to ensure energy system stability Electricity Generated (net), Climate action Safety Green Share of Generation GHG emissions, million t CO2
Slide 9: Financial highlights
Investor presentation / Financial highligts Financial highlights 9 /38
Slide 10: Financial performance overview
Investor presentation / Financial highlights Financial performance overview Adjusted EBITDA, 3.8% Financial KPIs1, EURm 6M 2025 6M 2024 Δ driven by stronger performance in Green Capacities and Networks Adjusted EBITDA 300.8 289.7 3.8% Adjusted Net Profit 146.2 164.6 (11.2%) Adjusted Net Profit, 11.2
Slide 11: Adjusted EBITDA
Investor presentation / Financial highlights Adjusted EBITDA Growth driven by Green Capacities and Networks Adjusted EBITDA APM EURm Development across business segments 300.8 +3.8% 289.7 +32.1 EURm New assets launched, and new services +23.9% provided. 166.6 134.5 +16.9 EURm Higher RAB and WACC. +1
Slide 12: Green Capacities
Investor presentation / Financial highlights Secured Capacity Green Electricity Generated (net), Green Capacities GW Green Share of Generation TWh, % Increased due to new assets launched, and new services provided +0.3 GW 84.8% 63.8% 2.00 3.4 60.0% 3.1 1.44 4.0 3.5 1.50 0.03 3.0 0.7 1.12 0.18 10.0%
Slide 13: Networks
Investor presentation / Financial highlights Distribution volumes Technological losses Networks TWh % Better results driven by higher RAB and WACC 6.0% +1.4% -0.2 pp 5.00 5.0% 5.04 5.12 -3.7% 5.0% 4.00 4.0% 4.8% 3.00 3.79 3.65 3.0% Adjusted EBITDA development APM 2.00 2.0% -0.6 pp 1.8% EURm 1.2% 1.0
Slide 14: Reserve Capacities
Investor presentation / Financial highlights Capacity of services provided Reserve Capacities MW 0.0% Increase driven by new services provided and higher volumes generated 1,055 1,055 164 164 Adjusted EBITDA development APM 891 891 EURm 31 Dec 2024 30 Jun 2025 Remaining capacity 4.2 29.1 Isolated re
Slide 15: Customers & Solutions
Investor presentation / Financial highlights Customers & Solutions Adjusted EBITDA decrease driven by natural gas result Adjusted EBITDA development APM Electricity retail sales Natural gas sales TWh TWh EURm 4.00 +6.2% +8.5% 4.00 3.83 3.50 3.50 3.60 3.00 3.54 3.00 3.26 11.8 2.50 2.50 2.00 2.00 1.50
Slide 16: Investments
Investor presentation / Financial highlights Investments YoY decrease driven by several projects reaching COD or nearing completion Investments APM EURm Key drivers 422.3 343.2 Decline due to several projects reaching COD or (18.7%) (113.2) EURm nearing completion. Partly offset by ongoing (42.0%) I
Slide 17: Free cash flow
Investor presentation / Financial highlights Free cash flow Adjusted EBITDA and change in NWC outweighing the Investments made FCF APM Key drivers EURm 64.0 80 60 +169.0 Adjusted EBITDA (+300.8 EURm). Change in Net Working Capital (+156.3 EURm). 40 20 6M 2024 0 Investments (-343.2 EURm). 6M 2025 -20
Slide 18: Leverage metrics
Investor presentation / Financial highlights Leverage metrics Strong leverage metrics as both FFO LTM and Net Debt remained flat Net Debt/Adjusted EBITDA LTM APM Net Debt development APM FFO LTM/Net Debt APM EURm times, % 5.0 50.0% 29.7% 29.8% 1,612.3 (300.8) 23.1 72.3 1,609.9 343.2 48.0 4.0 30.0% (
Slide 19: Outlook 2025
Investor presentation / Outlook 2025 Outlook 2025 19 /38
Slide 20: Guidance 2025
Investor presentation / Outlook 2025 Guidance 2025 Adjusted EBITDA of 500–540 EURm, Investments of 700–900 EURm guidance reiterated. No changes in main drivers Adjusted EBITDA APM Investments APM EURm EURm 812.0 700–900 527.9 500–540 25.2 42.0 Guidance 337.0 219.9 434.5 262.4 2024 2025 2024 2025 act
Slide 21: Highlights
Investor presentation / 6M 2025 results Highlights Solid results and continued strategy delivery, highlighted by the launch of 313.7 MW Kelmė wind farm, the largest in the Baltics. Full-year 2025 Adjusted EBITDA and Investments guidance reiterated Strong results enabled by Focused strategy driving R
Slide 22: Q&A
Investor presentation / Q&A Q&A 22 /38
Slide 23: Supplementary information
Investor presentation / Supplementary information Supplementary information 23 /38
Slide 24: Statement of profit or loss
Investor presentation / Supplementary information Statement of profit or loss EURm 6M 2025 6M 2024 Δ% Revenue from contracts with customers 1,294.5 1,088.6 18.9% Other income 3.5 3.7 (5.4%) Total revenue 1,298.0 1,092.3 18.8% Purchases of electricity, natural gas and other (849.4) services (646.1) 3
Slide 25: Statement of financial position
Investor presentation / Supplementary information Statement of financial position EURm 30 Jun 2025 31 Dec 2024 Δ% EURm 30 Jun 2025 31 Dec 2024 Δ% Assets Equity and liabilities Intangible assets 305.7 305.8 0.0% Share capital 1,616.4 1,616.4 - Property, plant and equipment 4,436.1 4,027.4 10.1% Reser
Slide 26: Statement of cash flows
Investor presentation / Supplementary information Statement of cash flows EURm 6M 2025 6M 2024 Δ% EURm 6M 2025 6M 2024 Δ% Cash flows from operating activities Cash flows from financing activities Net profit for the period 111.4 168.4 Loans received - 70.7 n/a Adjustments for non-monetary expenses 22
Slide 27: EBITDA and Net profit adjustments
Investor presentation / Supplementary information EBITDA and Net profit adjustments EBITDA adjustments Net profit adjustments EURm EURm 6M 2025 6M 2024 Δ Δ% 6M 2025 6M 2024 Δ Δ% EBITDA APM 262.5 294.2 (31.7) (10.8%) Net profit 111.4 168.4 (57.0) (33.8%) Adjustments Adjustments 38.3 (4.5) 42.8 n/a To
Slide 28: Net Working Capital
Investor presentation / Supplementary information Net Working Capital Decrease in trade receivables as a result of lower electricity and gas related revenue due to seasonality Key drivers Net Working Capital APM EURm (152.4%) Decrease in trade receivables (-91.4 EURm) as a result of lower 135 (155.1
Slide 29: Overview of introduced new regulation for AB Ignitis gamyba
Investor presentation / Supplementary information Overview of introduced new regulation for AB “Ignitis gamyba” Ensures that the additional profit earned in the Baltic states is shared with Lithuanian consumers by reducing the regulated electricity tariff Kruonis PSHP, Kaunas HPP Elektrėnai Complex
Slide 30: Financing
Investor presentation / Supplementary information Financing Debt maturity schedule1 Liquidity reserve2 EURm EURm 918.6 774.2 649.3 300.0 300.0 300.0 539.7 297.5 153.9 87.2 234.5 269.3 62.2 60.4 60.0 60.0 79.5 80.3 33.7 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034+ 31 Dec 2024 30 Jun 2025 Loans
Slide 31: Installed Capacity and generation mix overview
Investor presentation / Supplementary information Installed Capacity and generation mix overview Electricity generated1 vs supplied by Ignitis Group in 2024 TWh 6.7 Gap enough to cover ~2.4 GW2 of new Green Capacities 1.4 Externally–secured 0.4 Generated1 Electricity supply portfolio 1. Excluding op
Slide 32: Hedging levels
Investor presentation / Supplementary information Hedging levels Green generation Portfolio hedging levels1 Hedge price2, 136 90% 200 112 EUR/MWh 86 85 150 84 80% 100 70% 50 60% 0 50% -50 40% 72% -100 61% 60% 55% 30% 53% -150 Volumes hedged3,4, 20% -200 % 10% -250 0% -300 2024 2025 2026 2027 2028 1.
Slide 33: Industry overview
Investor presentation / Supplementary information Industry overview Electricity Consumption, TWh Generation, TWh Finland 38.6 EUR/MWh (-31.6%) TWh 6M 2025 6M 2024 Δ% TWh 6M 2025 6M 2024 Δ% Nord Pool system 45.0 EUR/MWh (+6.3%) Lithuania Lithuania 35.9 EUR/MWh (-23.2%) 5.8 6.0 (3.0%) 5.3 4.1 29.8% TT
Slide 34: Recent updates to ESG ratings
Investor presentation / Supplementary information Recent updates to ESG ratings Leading to transparent ESG performance Rank compared to utility Rating provider Score range (minimum to maximum) peers D- A+ B- Prime (Good) 2nd decile CCC AAA AA (Leader) Top 23% 100 0 24.6 (Medium risk) 27th percentile
Slide 35: Disclosure summary 2025–2028
Investor presentation / Supplementary information Disclosure summary 2025–2028 Strategic ambitions and financial guidance Our strategic performance KPIs Installed green generation and green flexibility capacities: Total Investments, 2025–2028 3.0–4.0 EURbn − 2028 2.6–3.0 GW − of which share of Inves
Slide 36: Glossary
Investor presentation / Supplementary information Glossary Advanced Development Pipeline Green Capacities projects with secured access to the electricity grid through a preliminary grid connection agreement, where the agreement has been signed and the grid connection fee has been paid Awarded / Cont
Slide 37: Abbreviations
Investor presentation / Supplementary information Abbreviations B2B Business to business PPA Power purchase agreement B2C Business to consumer PSHP Pumped Storage Hydroelectric Power Plant CCGT Combined Cycle Gas Turbine Plant RAB Regulated asset base CfD Contract for difference SAIFI The System Ave
Slide 38: More about Ignitis Group Contacts
Investor presentation / 6M 2025 results More about Contacts Ignitis Group Reports, presentations & IR@ignitis.lt fact sheets Sustainability Strategy 38 /38