Slide 1: Green Hydrogen Producer H1 2024 Results
(4 GREEN HYDROGEN PRODUCER H1 2024 RESULTS WEBCONFERENCE 24 SEPTEMBER 2024 LHYFE T
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 Founder & CEO Chief Business Officer Maria Pardo Saleme Chief Financial Officer 4. H12024 HIGHLIGHTS 2. ACCELERATING REVENUE S. OUR SITES AND PROJECTS 4. 112024 FINANCIALS HIGHLIGHTS
Slide 4: H1 2024 Highlights
H1 2024 HIGHLIGHTS
Slide 5: National support mechanisms and existing customers
National support mechanisms (CFD or capex) & Existing customers looking for green H2
Slide 6: Lhyfe - Key figures
_ Lhyfe - Key figures deliveri ee new clients signed mae 290 Gres fae +20 inti2o24 Wy, 200 fa’) 9.5 GW employees pipeline across Europe sites a sites under construction installed amp in France and in Germa
Slide 7: What we achieved during H1 2024
_ What we achieved during H1 2024 ¥] 11/2024 revenue at /€1.7m)|x4 compared to) H1/ 2028, reflecting full capacity at Bouin and revenue expansion in Germany | Signature of multiple new clients including Hyliko, Karp Kneip, Géométhane and a taxi company in France, and Stadtwerke Leipzig in Germany ¥]
Slide 8: Accelerating Revenue
ACCELERATING REVENUE
Slide 9: Green H2 production and sales are accelerating
"Groen H2 production and sales are accelerating both in France Among new clients © hyliko ZZ KARP-KNEIP ¢H2MOBILITY |_ Leipziger Ga@gméthane +6% He 2022 H1 2023 H2 2023 H1 2024
Slide 10: Long-term offtake contracts signed
oo k = @ e HYmpulsion ‘Auvergne-Rhéne-Alpes France Signed in H2 2023 ¢H2MOBILITY Germany Signed in H2 2024 Utilities player Germany Signed in H2 2024 Refuelling station operator France Signed in H1 2024 AO years From 2026 5 years From 2025 3 years From 2025 3 years From 2025 > 600 tons/year on avera
Slide 11: Our Sites and Projects
OUR SITES AND PROJECTS
Slide 12: Bouin (France) running now at full speed
Bouin (France) running now at full speed erving mostly mobility clients ' ae Extension planned for up to 1 tonne of = Representing a 2.5 MW electrolysis installed capacity after extension = Scheduled in the coming months, in accordance with the site’s production schedule = Onsite storage authorizati
Slide 13: Buléon (France)
Buléon (France = In Brittany (Morbihan, Buléon near Lorient) = Production capacity: up to 2:tons of green H2 per day (5 MW installed capacity) = Main source of energy: Wind PPA with VSB énergies Nouvelles = Site installed = Commercial ramp-up to start in H2 2024 PS
Slide 14: Bessières (France)
Vow’ eS be a a y b@) 4 y } x a a@o.f a 3 Dy In Occitany (Bessiéres near Toulouse) Production capacity: up to 2 tons of green H2 per day (5 MW installed capacity) Main source of energy: Wind PPA Winner of the Corridor H2 tender for projects Site installed Commercial ramp-up to start in H2 2024
Slide 15: Germany onsite unit for hydrogen trains
= Up to 200 kg per day (1 MW installed capacity) = To supply hydrogen-powered trains on the Pforzheim-Horb- Tubingen line from 2024. = Contract signed.with Deutsche Bahn * Onsite unit installed SIEMENS H2goesRail
Slide 16: Selected sites under construction
- Selected sites under construction oo Up to 4 t/pd (10 MW installed cap.) Construction works launched at end 2023 Most of the equipment delivered and installed on site Electrical and piping installation in progress
Slide 17: Selected sites under construction - France
Selected sites under construction - France CROIXRAULT ? LE CHEYLAS 9 * FID taken in H2 2023 " FID taken in H1 2024 « Up to 2 tons of green hydrogen per day (5 MW of " To meet the growing customer demand in the region, installed electrolysis capacity) production capacity increased to 4 tons per day =
Slide 18: A fortress pipeline of projects across Europe
_ A fortress pipeline of projects across Europe Excluding sites under construction Bulk projects Onsite projects Backbone projects Lhufe ) Ange (Sweden) - 300 MW Added H1 2024 Delfzijl (Netherlands) - 200 MW Wallsend (UK) - 20 Mw “oo "" 2024 HOPE Project (Belgium) - 10 MW Green Horizon, Le Havre (Fr
Slide 19: Up to €149m grant for 100 MW Green Horizon project
Boosting the scale-up: up to €149m grant secured from French Lupe government to support 100 MW Green Horizon project near Le Havre in France cp 100 Mw (OD Up to 34 tons of green Ho/day =o Up to €149m French State aid granted to Lhyfe for the construction of the H2 production unit 9) SA, m? Available
Slide 20: H1 2024 Financials Highlights
Yuufe H1 2024 FINANCIALS HIGHLIGHTS
Slide 21: Key figures
_ Key figures ME D9OC wiveries HAY 10096 seeece sate eizm AF xd ezscnse revenues in H1 2024 & €93m 23" @ €340m steais
Slide 22: 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 ‘ Adjusted EBITDA: consolidated operating profit fro
Slide 23: Strong cash position to fund company's growth
Yiufe _ Strong cash position to fund company’s growth € m- IFRS standards June 24 June 23 Operating cashflow at €(14.4)m versus €(11.4)m YoY: an improved EBITDA, offset by the negative change in the WCR (€(2.9)m in H1 Net result (14.0) (15.9) 2024 compared with +€2.1m in H1 2023) . Investing cashflo
Slide 24: Pipeline by phases and geography
PIPELINE BY PHASES PIPELINE BY GEOGRAPHY In MW Southern 4.5 GW cures” © 0 (vs 4.3 GW) Northern 4.4 GW Western Europe & UK (vs 5 GW) Europe £22 — a we o2e0: 545 MW (vs 495 MW) 10 MW (vs 25 MW) PIPELINE BY TYPE OF PROJECT In MW Backbone’ 59% EARLY STAGE TENDER READY [/) coNsTRUCTION DEVELOPMENT AWARDE
Slide 25: Targets and GW of assets under management
3 GW of assets under management >30% EBITDA margin QI. a eae 1 EBITDA margin > 10% wel 1 Revenues c. €100m ey 4 ae 1 ey Target 1 Revenues oe 0.20% / x4 YoY wy owned by | a y Lyfe 4 1 Partnerships 1 activity , Integrated activity Installed capacity (integrated activity)
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Slide 27: Appendices
Appendices
Slide 28: Gold ESG recognition by Ethifinance
» _ Gold ESG recognition by Ethifinance 75 / 100 2022 Rating vs. 55/100 for the sector’ vs. 67/100 in 2021 &thiFinance SG rating 2023 st h over 50 Lhyfe’s ranking within its sector Governance 62 66 External 80... 63 45 Social stakeholders a 60 —thyfe Environment — Benchmark _ Green H2 carbon footpri
Slide 29: 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 30: European Hydrogen Bank first auction projects selected
Strong interest in this first auction 7 projects selected (April 2024) * 7 projects to receive an Innovation Fund grant 4130 bids from 17 European countries ranging between €8m and €245 m, i.e. €720m envelop oversubscribed 15x subsidies ranging between €0.37 and €0.48 per kilo of green hydrogen prod
Slide 31: National support schemes for green H2 in Europe
fo) Liyfe Multiple and enhanced national support schemes for the deployment of green H2 in Europe a Germany ( ) France o Objective of 10 GW of installed electrolysis capacity © Objective of 6.5 GW of installed electrolysis capacity by 2030 by 2030 and ©9bn support from the French © Dedicated budgets
Slide 32: 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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