Slide 1: FY 2024 Results Webconference
GREEN HYDROGEN PRODUCER FY 2024 Results Webconference 27 MARCH 2025 LHYFE usTED EURONEXT|
Slide 2: Disclaimer
_ Disclaimer This presentation contains forward-looking statements regarding the prospects and growth strategies of Lhyfe and its subsidiaries (the “Group”). These statements include statements relating to the Group’s intentions, strategies, growth prospects, and trends in its results of operations,
Slide 3: Presenters and agenda
Matthieu Guesné Taia Kronborg Maria Pardo Saleme Founder & CEO Chief Business Officer Chief Financial Officer ‘1. A MATURING H2 SECTOR 2. LHYFE*S 2024 HIGHLIGHTS S. ACCELERATING REVENUE AND EXTENDING CUSTOMER REACH 4. GROWING OUR PRODUCTION CAPACITIES 5. OUR ESG PERFORMANCE 6. 2024 FINANCIAL HIGHLIG
Slide 4: A maturing H2 sector
A MATURING H, SECTOR
Slide 5: European Commission RED III and national support programs
European | Commission Implementation before May 2025 of RED Ill mandates by each EU member state: vy Each member state must set 2050 targets for the consumption of renewable hydrogen in industry and transport Y This inillldrive hydrogen! , Proving mat to support green Hp production and consumption v
Slide 6: France support scheme for hydrogen production
» Eu REPUBLIQUE FRANCAISE To encourage renewable and i (mw) low-carbon hydrogen production Subsidies of up to €4 per kg of hydrogen produced v v Feaienn (carbon neutrality by 2050) and to position France as a leader in green technology pblestive(#2ia allocations of 200 MW in 2025, 250 MW in 2026 and
Slide 7: Our view on current hydrogen deployment
Our view on current hydrogen deployment >» Hs momentum continues with x4 FIDs taken in Europe in 2024 on Hz projects and clearer Support mechanisms (Germany, UK, Netherlands, France] > Industry going through maturation phase. Bad news in the press in that consolidation time while a handful of player
Slide 8: Lhyfe's 2024 highlights
LHYFE’s 2024 HIGHLIGHTS
Slide 9: Key achievements in 2024
_ Key achievements in 2024 PP XQ 2A revenues IJ €5.1m iesiee eee Clients supplied O7 Service pak c.50 during the year Wy 99 ¢O rate =, 470 Deliveries in” 22MW Capacities done in 2024 X 22 vs IPO
Slide 10: Masdar agreement completes blue chip long-term partnerships
The agreement signed with Masdar completes the blue chip and long-term partnerships already in place Eee CIP > ss a saga Renewables Copenhagen Infrastructure Partners MITSUI&CO. MoU signed in January 2025 to explore co-development opportunities in Europe Lhyfe Gl gee | Potential co-development oppor
Slide 11: What Lhyfe achieved during 2024
Liufe What Lhyfe achieved during 2024 Record €5.1m revenue in 2024, x4 compared with 2023, in line with guidance, reflecting full capacity at Bouin, customers portfolio expansion and first deliveries from Buléon and Bessiéres Increasing our customer base with c. 50 customers supplied in 2024 and num
Slide 12: Lhyfe - Best choice in the green H2 production value chain
Lyfe Lhyfe - Best Choice in the green H2 production value chain Lhyfe best choice in Syaepesn Pimieeveiy Customer Satisfaction Survey 2024 Unique track record in installation of 5 “High responsiveness in delivering solutions. and 10 MW green H2 production units, ew % Overall positive customer experi
Slide 13: Accelerating revenue and extending customer reach
Yuufe ACCELERATING REVENUE AND EXTENDING CUSTOMER REACH
Slide 14: Selection of new clients announced in 2024 and start of 25
» Selection of new clients announced in 2024 and start of 2025 L Leipziger ZZKARP-KNEIP = (HOMOBILITY Stadtwerke Q hyliko storengy Gagmnéthane Hysetce Revenue (€m) — 1.5 2022 20235 Hydrogen powered solitons enosis
Slide 15: Clients across industry and geographies
roby) hausty) anc geographies OP MANITOU Hysetce Pym LoRi=ZNT AGGLOMERATION GNGic 2A KARP-KNEIP Solutions hee Leipziger IVECO DB] BAHN brétéche ) L mea P2t9 Gagmethane QYhyliko — ¢H2MOBILITY ea storengy hypion’ % SYMBIO Qinocel enosis Hydrogen powered solutions
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Slide 17: Building up one of the largest H2 MEGC fleets in the EU
Building up one of the largest H2 MEGC fleet in the EU: a key asset to extend our client outreach tube trailers Deliveries Clients supplied O7 Service 70 (Type 4) 470 done in 2024 5 In 2024 9 70 rate = ci [i . ' Hexagon Purus A valuable asset base Excellence in supply chain In-house software to mana
Slide 18: Growing our production capacities
Yuufe GROWING OUR PRODUCTION CAPACIT
Slide 19: Bouin (France) running at full speed
Bouin (France) running at full speed erving mostly mobility clients ' = = Representing a 2.5 MW electrolysis installed capacity after extension = Extension to be installed in accordance with the site’s production schedule = Onsite storage authorization extended from 1 ton to.5 tons
Slide 20: Buléon (France)
Buléon (France In Brittany (Morbihan, Buléon near Lorient) Production capacity: up to 2 tons of green He per day (5 MW installed capacity) Main source of energy: Wind PPA with VSB énergies Nouvelles Selection of clients Loni=zNT Hysetco
Slide 21: Bessières (Occitanie)
In Occitany (Bessiéres near Toulouse) Production capacity: up to 2 tons of green H2’p (5 MW installed capacity) Main source of energy: Wind PPA Selection of clients . Qinocel enosis
Slide 22: Schwäbisch Gmünd (Germany)
= Production-capacity: up to 4 tons ofgréen per day (10‘MW installed capacity) ¢H2MOBILITY< Commercial ramp-up to Star
Slide 23: Selected sites under construction
Selected sites under construction Up to 4tpd of green H2 hydrogen 5 MW installed capacity) (10 MW installed capacity) Up to 2 tpd of green H2 hydrogen { ( = Located alongside the A29 motorway = To meet the growing customer demand in the region, = First production unit in the Hauts-de-France region p
Slide 24: Pipeline by phases and geography
» PIPELINE BY PHASES PIPELINE BY GEOGRAPHY (Versus Dec 2023) In MW Southern Europe ©) 4.4 GW : (vs 4.3 GW) Northern 4.1 GW Western Europe & UK (vs 5.0 GW) Europe aE A e - o2e0s “er 510 MW (vs 495 MW) 10 MW PIPELINE BY TYPE OF PROJECT In MW Backbone’ 57% 9.1 EARLY STAGE TENDER READY BR CONSTRUCTION G
Slide 25: Our Go-to-FID strategy
_ Our Go-to-FID strategy e Sites already installed or under construction/extension Short term Long-term Vaggeryd (Sweden) - 10 MW €1m subsidy Green Horizon Le Havre (France) - 100 MW |: Up to €149m subsidy Vallmoll (Spain) - 15 MW. €14m subsidy €11m subsidy Jordberga (Sweden) - 10 MW oe Lubmin (Germ
Slide 26: New additions to the pipeline in 2024 and 2025
Lhufe "New addition to the pipeline in 2024 & 2025 ) Ange (Sweden) - 300 MW e Sites already installed or under construction/extension Bulk projects | SouthH2Port (Sweden) - 600 MW Added 2024 ) Vaggeryd (Sweden) - 10 MW Onsite projects Delfzijl (Netherlands) - 200 MW Backbone projects Added 2024 Wall
Slide 27: Green Horizon: up to €149m grant for 100 MW project near Le Havre
Lhyfe Green Horizon: up to €149m grant to support the 100 MW project near Le Havre in France ce 100 MW hh Up to 34 tons of UU green H./day Up to €149m French State aid granted to Lhyfe for the construction of the H2 production unit 28,000 m? &>* available space at the planned site of Gonfreville-POr
Slide 28: ESG performance recognized
Yuufe ESG PERFORMANCE RECOGNIZED: LH
Slide 29: 2024 ESG rating 86/100
86/100 2024 Rating vs. 59/100 for the sector’ vs. 78/100 in 2023 Governance 4st over 73 &thiFinance Lhyfe’s ranking within exerci the Utilities sector in 2024 Europe 7th over 360 Lhyfe’s ranking within French companies 97 _ 85 External 49 Social ee stakeholders —Lhyfe 96 — Benchmark Environment ’ Sa
Slide 30: FY 2024 financial highlights
Yuufe FY 2024 FINANCIALS HIGHLIGHTS
Slide 31: Key figures
_ Key figures 7. *ienues & €72m ss LZ 5.1m seer" @ €242m sei3i.
Slide 32: Revenue and income statement
Revenue Purchases consumed External expenses Personnel expenses’ Taxes, duties and similar payments Other current operating income & expenses? Adjusted EBITDA? Current operating result (EBIT) Operating result Financial result Consolidated net result ‘Excluding expenses related to share-based payment
Slide 33: Assets building up and strong cash position
Lyfe __ Assets building up-and strong cash position to fund company’s growth € m - IFRS standards 2024 2023 Net result (29.2) (33.6) Operating cashflow (27.0) (22.6) Investing cashflow (34.6) (44.1) Financing cashflow 19.5 36.5 Change in cash & cash equivalents (42.1) (30.2) € m - IFRS standards Cas
Slide 34: Ramp-up of newly installed units and outlook
Ramp-up of our newly installed units (Buléon, Bessiéres, Schwabisch Gmiind) SHSRGHEGH Our HACK FSCOrd In OpEraHION NA INIGORSEFUGHION with Croixrault and Le Cheylas sites under construction Preparing next FIDs including Green Horizon Significant expected growth in revenue to be supported by: » x2 to
Slide 35: Partnerships and integrated activity
Partnerships activity Integrated activity Installed capacity (integrated activity) Revenues x4 YoY 3 GW of assets under management >30% EBITDA margin “7 "Wt 10% EBITDA margin 0 Revenues c. €100m ey ] my Z Target oc? 0.20% wy owned by 2 } Lhyfe
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Slide 38: Heavy support from Europe to speed up green H2 production
Liyfe Heavy support from Europe to speed up green H2 production RFNBO (Renewable Fuel of Non-Biological Origin): 10 millions tons 42% finalized definition of green renewable hydrogen and Green hydrogen production Green hydrogen to be ambitions for Europe target in Europe by 2030 used in industry by
Slide 39: Multiple and enhanced national support schemes for green H2
fo) Lupe Multiple and enhanced national support schemes for green H2 fo) fo) a Germany Objective of 10 GW of installed electrolysis capacity by 2030 Dedicated budgets approved for the application of AFIR regulations (mobility) and for CCFD programs (Carbon Contracts For Difference) €24bn of governme
Slide 40: European Hydrogen Bank auctions
First auction: strong interest 130 bids from 17 European countries €720m envelop oversubscribed 15x LCOH between ©5.8 and ©13.5 per kilo Potential clients mostly from Industry Second auction: confirming the strong interest in the M 61 bids from 11 European countries €1,200m envelop oversubscribed 4x
Slide 41: Offshore green hydrogen plans
* Overall plan to have 10 G\V of installed capacity for green H2 production offshore of which 4 GW by 2030 * Area of the North Sea (SEN-1 zone) already set aside exclusively for offshore green hydrogen production of up to 1 GVW by 2030, which would be connected to shore via the Aquaductus H2 pipelin
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