La Francaise De L'energie Sa · EURONEXT:FDE
La Francaise De L'energie Sa — TP ICAP Midcap Conference 2025
33 slides from La Francaise De L'energie Sa's conference presentation, May 15, 2025
Slide 1: Local Energy – Positive Impact
Local Energy – Positive Impact TP ICAP Midcap Conference 15-16 May 2025
Slide 2: Key Management Contacts
KEY MANAGEMENT CONTACTS JULIEN ANTOINE AURÉLIE DENIS YANN MOULIN FORCINAL TAN CLODIC FOUANT Executive Group Chief Group Chief Head of Research, Project Chairman Executive Officer Financial Officer Innovation & Director Development Entrepreneur with Engineer with 20 Financier with 22 PhD in Energy Me
Slide 3: A Leading Platform for Low-Carbon Energies in Europe
A LEADING PLATFORM FOR LOW-CARBON ENERGIES IN EUROPE Using low-carbon Carbon capture and fuels (Biogas/RNG, PROVIDING VARIOUS utilization/storage Abandoned Mine SOLUTIONS Methane, Hydrogen) ELECTRICITY HEAT GAS HYDROGEN CO2 Code Reuters : FDEL. PA – Code Bloomberg : FDE.FP 3
Slide 4: Key Investment Highlights
KEY INVESTMENT HIGHLIGHTS Integrated low-carbon energy operator with a growing international presence ✓ Focused on electricity, heat, gas, hydrogen and CO₂ recovery ✓ Already active in 5 countries (France, Belgium, Luxembourg, Norway, Bosnia) Alignment with UN and EU climate goals ✓ Accelerating the
Slide 5: A Business Model Dedicated to Low Carbon Energy Production
A BUSINESS MODEL DEDICATED TO LOW CARBON ENERGY PRODUCTION Develop: FDE uses local and industry expertise identify promising projects in the areas where it operates, through key factors like cost-effective land, permits, grid capacity, and nearby offtake options. x Build (and Finance): FDE use prove
Slide 6: Today's Key Metrics
TODAY’S KEY METRICS 22.5 MW of Cogeneration €31.4 M of FY24 revenues 3.5 Million Tons of CO2 eq installed +36% Average annual growth avoided annually currently since 2017 63% Margin EBITDA in FY 24 65 MW of Solar 8 international patents backing methane recovery, CO₂ + €69 M investments made installe
Slide 7: Strong Financial Profile Built for Future Growth
STRONG FINANCIAL PROFILE BUILT FOR FUTURE GROWTH PROFITABLE GROWTH CONFORTABLE CASH POSITION (as of December 31 st , 2024 – H1 2025) Revenues FY 2024 €31.4 M Cash position €50 M Equity €83 M EBITDA 63% FY 2024 €19.7 M Gross Debt1 €94 M Net Debt / EBITDA x 2.9 EBITDA Margin Operational income SUPPORT
Slide 8: Our Latest Acquisition: Alltec
OUR LATEST ACQUISITION Alltec is the only end-to-end low carbon energy EPC (Engineering Procurement and Construction) solution provider. Co-Owner of Sustainable Energy, one of Europe’s largest green energy test centers, certified with the prestigious Katapult label in Norway. €9.4 M €100 M c. 50 202
Slide 9: FY 2030: Projects Pipeline Being Developed
FY 2030: PROJECTS PIPELINE BEING DEVELOPPED FY2025 FY2026 FY2028 FY2030 CURRENT PROJECTS CURRENTLY DEVELOPMENT TARGET 2030 OPERATIONS BEING DEVELOPPED PIPELINE ELECTRICITY COGENERATION 22,5 MW 30 MW 48 MW 100,5 MW 300 SOLAR MW 65 MW 76 MW 47 MW 183 MW GAS FROM AMM 220 GWH 220 GWH 220 GWH 220 GWH 950
Slide 10: FDE's 2030 Growth Plan
FDE’S 2030 GROWTH PLAN EMISSIONS CO 2 EQ Avoided annually EBITDA In €M ANNUAL REVENUES > 20 MT/y In €M > €85 M > €175 M Code Reuters : FDEL. PA – Code Bloomberg : FDE.FP 10
Slide 11: Annexes
: = Local energy, ( Q le — ——
Slide 12: Electricity
ELECTRICITY Code Reuters : FDEL. PA – Code Bloomberg : FDE.FP
Slide 13: Electricity: Cogeneration and Solar Portfolio
ELECTRICITY: COGENERATION AND SOLAR PORTFOLIO COGENERATION SOLAR 22.5 MW 65 MW* NORWAY Installed Installed (15 CHPs) on 2 sites on 6 sites Focus Focus BELGIUM Anderlues Béthune FRANCE BOSNIA Solar PV Projects pipeline Code Reuters : FDEL. PA – Code Bloomberg : FDE.FP * Gross 13
Slide 14: Electricity: Cogeneration Business Model
ELECTRICITY: COGENERATION BUSINESS MODEL 1 CHP SITE: 1,5 MW TIME TO MARKET : 24 MONTHS TOTAL CAPEX: €2.5 M INVESTMENTS • 10% Equity • 90% Debt Payback PROJECT IRR NPV* KPI’s > 20% >€3M < 5 years COMMERCIAL ASSUMPTIONS KEY FIGURES PARTNERS • Based on 10 years feed-in tariff of €80 / MWh REVENUES €900
Slide 15: Electricity: Cogeneration Developments
ELECTRICITY: COGENERATION DEVELOPMENTS EXISTING PROJETCS ONGOING DEVELOPMENTS Operating >150 MW 3.5 million m³ that can be installed 7 CHPs received and ready to be installed monopoly until 2042 of 2P reserves from existing proven reserves (2P) 4 CHPs already deployed at Angres and Rouvignies sites
Slide 16: Electricity: Solar PV Business Model
ELECTRICITY: SOLAR PV BUSINESS MODEL PV SITE: 17 MW TIME TO MARKET : 36 MONTHS TOTAL CAPEX: €10 M INVESTMENTS • 15% Equity • 85% Debt Payback PROJECT IRR NPV* KPI’s c. 8 % c. € 2 M 8 years COMMERCIAL ASSUMPTIONS KEY FIGURES PARTNERS REVENUES • Based on 10 years feed-in tariff of €80 / MWh > €1.6 M •
Slide 17: Electricity: Solar Developments
ELECTRICITY: SOLAR DEVELOPMENTS EXISTING PROJETCS ONGOING DEVELOPMENTS 15 MW solar farm in Tritteling, France (owned at Other solar farms under developments in 75%) Belgium, France and Norway: land secured, environmental studies and grid connection 45 MW solar farm in Petjnik, Bosnia, (operated by u
Slide 18: Cogeneration & Solar PV: Development Plan & 2030 Objectives
COGENERATION & SOLAR PV: DEVELOPMENT PLAN & 2030 OBJECTIVES PIPELINE OF COGENERATION PROJECTS PIPELINE OF SOLAR PV PROJECTS ROUVIGNIES ESCAUDAIN FOLSCHVILLER ENGENE Capacity: 4.5 MW (3 CHPs) Capacity: 4,5 MW (3 CHPs) Capacity: 7 MWc Capacity: 6 MWc Expected COD: 2025 Expected COD: 2027 Expected COD:
Slide 19: Gas
GAS Code Reuters : FDEL. PA – Code Bloomberg : FDE.FP
Slide 20: Gas: AMM and RNG Portfolio
GAS: AMM AND RNG PORTFOLIO ABANDONED MINE GAS PORTFOLIO RNG PORTFOLIO 712 220 GWh GWh of AMM on 2 of RNG on 9 sites sites in construction HALSA BETHUNE AVION LAERDAL BERGEN STAVANGER RNG Projects to be disclosed Code Reuters : FDEL. PA – Code Bloomberg : FDE.FP 20
Slide 21: RNG Business Model (Norway)
RNG BUSINESS MODEL (NORWAY) RNG SITE: 100 GWH/year TIME TO MARKET : 18 MONTHS TOTAL CAPEX: €35 M • 15% Equity INVESTMENTS • 15% Subsidies • 70% Debt Payback PROJECT IRR NPV* KPI’s c. 20 % c. €30 M c. 5 years COMMERCIAL ASSUMPTIONS KEY FIGURES PARTNERS • European • Production 340 tons/day: RNG @ € 10
Slide 22: RNG Developments
RNG DEVELOPMENTS STAVANGER HALSA Stavanger site: 100 GWh/y RNG capacity, 14K Halsa site: 120 GWh/y, 14.2K tons of Bio-CO2 tons of Bio-CO2 and 155K tons of bio-fertilizers and 165K tons of bio-fertilizers Land and feedstock secure with detailed Land and feedstock secured engineering finalized Offtake
Slide 23: RNG: Development Plan & 2030 Objectives
RNG: DEVELOPMENT PLAN & 2030 OBJECTIVES PIPELINE OF RNG PROJECTS STAVANGER PROJECT #5N PROJECT #1F Capacity: 101 GWh/year Capacity: 65 GWh/year Capacity: 65 GWh/year Expected COD: 2025 Expected COD: 2025 Expected COD: 2025 BERGEN PROJECT #6N PROJECT #2F Capacity: 101 GWh/year Capacity: 60 GWh/year C
Slide 24: Hydrogen
HYDROGEN Code Reuters : FDEL. PA – Code Bloomberg : FDE.FP
Slide 25: Hydrogen Assets
HYDROGEN ASSETS BELGIUM GLOMFJORD FRANCE TBD STORD AGDER 1 low carbon H2 Project under development in France, converting gas reserves into Blue H2 associated with CCUS 1 natural H2 appraisal site in France - A larger portfolio under construction 1 renewable H2 site in production in Norway 1 low carb
Slide 26: Norway H2 Business Model
NORWAY H2 BUSINESS MODEL H2 SITE: 20 MW TIME TO MARKET : 36 MONTHS TOTAL CAPEX: €37 M • 10% Equity INVESTMENTS • 40% Subsidies • 50% Debt Payback PROJECT IRR NPV* KPI’s > 20 % c. €30 M c. 5 years COMMERCIAL ASSUMPTIONS KEY FIGURES PARTNERS • European industrials REVENUES • Production 2 600 tons/year
Slide 27: Norway H2: Agder Project
NORWAY H2: AGDER PROJECT ONGOING DEVELOPMENT Projected hydrogenONGOING DEVELOPMENTS AGDER : 60 MW electrolyser in 2 phases plant Phase 1: 20 MW electrolyser – 8 tons of compressed hydrogen to be produced per day. Primary focus is to serve the shipping industry with renewable fuels. Elkem Industrial
Slide 28: France H2: Lorraine Project
FRANCE H2: LORRAINE PROJECT ONGOING DEVELOPMENTS LORRAINE H2 (produced from CBM1) Certified Gas Resources: 2.1 BN of m3 (2P), 87 BN of m3 (2C) 42 certified gas production sites in the Bleue Lorraine Concession Key FDE location: less than 5 km away from the MosaHYc2 pipeline Autorisations for Drillin
Slide 29: FDE Investment Plan Secured and Fully Funded
FDE INVESTMENT PLAN SECURED AND FULLY FUNDED Planned investments 2024-2026 of c. €331 M (excluding Lorraine H2), based on current 100% asset ownership (except for PV) 19% of Total Equity Capex < €64 M Conservative ring- fenced project finance for decarbonated energy production assets: Subsidies 8% o
Slide 30: Fully Engaged in the Energy Transition
FULLY ENGAGED IN THE ENERGY TRANSITION THE KEY PILLARS TO OUR ESG APPROACH TAILORED-MADE ENERGY SOLUTIONS Delivering custom solution for electricity, heat, gas and low-carbon hydrogen FIGHTING GLOBAL WARNING LOCALLY Producing and providing local energy for low emission and resilient communities REDU
Slide 31: Financial Support
FINANCIAL SUPPORT SHAREHOLDER BASE BANKING RELATIONSHIPS AND GRANTS (as of December 31st, 2024) Strong banking relationships enabling funding of projects and Anchor shareholders (15%) potential acquisitions Mulliez Family €4.9 M grants allocated for low carbon projects Michaud Family Institutions (3
Slide 32: FDE Listing
FDE LISTING KEY CORPORATE INFORMATION SELL SIDE COVERAGE (as of May 14th, 2025) ✓ BUY Target Price: €42 Listing Euronext Paris April 2025 Analyst: marietherese.gruebner@ha-ib.de Share price €30.4/ share 5.2 M ✓ BUY Shares outstanding €189 M Target Price: €55 Market capitalisation April 2025 Analyst:
Slide 33: FDE
FDE Code Reuters : FDEL. PA – Code Bloomberg : FDE.FD Tel : +33 (0)3 87 04 32 11 ir@francaisedelenergie.fr www.francaisedelenergie.fr
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