Slide 1: Q2 26 Results Presentation
Q2 26 Results Presentation 12 August 2026
Slide 2: Disclaimer
Disclaimer THIS PRESENTATION may contain forward looking statements. These statements are based on current expectations, estimates and projections of Envipco’s management and information currently available to the company. Envipco cautions that such statements contain elements of risk and uncertaint
Slide 3: What 90 days has taught me
What 90 days has taught me José Matthijsse, CEO since May 2026 First months All locations visited. Teams, customers, DRS operators, investors and analysts What I found Strong value proposition, large market opportunity, focused strategy and committed people Short and mid-term focus ➢ Reporting disci
Slide 4: Financial Highlights Q2 26
Financial Highlights Q2 26 Revenue development EUR million, unaudited ● Return to revenue growth with group revenues EUR 26.1 26.1m, +13% y/y on mixed performance in Europe 23.1 22.5 23.8 19.7 and stable US operations ● Gross margin 32.2% continue to reflect investments in service teams and underuti
Slide 5: Operational Highlights
Operational Highlights Building commercial pipeline ● CEO José Matthijsse assumed role 18 May 2026 ● Delivering on wins in Portugal ● Started delivery on RVM throughput agreement with Netto Polska ● Announced four wins with major UK retailers totaling 5,400 RVMs to date ● Record Quantum deployments
Slide 6: Financial review
Financial % review Sepa is ou toxicos, pois poderso cai s feriment
Slide 7: Profit & Loss
Profit & Loss in EUR million, unaudited Q2 26 Q2 25 H1 26 H1 25 FY 25 Q2 26 Revenues 26.1 23.1 45.8 44.1 90.3 ● Group revenues EUR 26.1m, +13% y/y - Europe 15.1 12.3 29.1 26.7 56.0 ○ Higher RVM sales in Europe - North America & RoW 11.1 8.7 16.8 17.3 34.3 ○ North America +5% y/y ● Gross margin 32.2%
Slide 8: Europe
Europe Q2 26 Quarterly revenues (EUR million, unaudited) Program services RVM sales ● Revenues EUR 17.1m, +18% y/y 17.1 ○ Timing of markets cause quarterly variations 14.4 14.3 15.0 12.0 ● RVM sales EUR 14.8m, +16% y/y ○ New markets Poland and Portugal key sales 12.7 12.5 12.7 14.8 growth driver 10.
Slide 9: North America
North America Quarterly revenues Q2 26 (EUR million, unaudited) Program services RVM sales ● Revenues of EUR 9.0m, +5% y/y 9.0 8.6 8.7 ○ FX adjusted +8% 8.2 7.7 1.1 0.7 1.9 1.7 0.7 ● Program services revenues -3% y/y to 7.5 7.6 6.9 7.0 7.3 EUR 7.3m ○ Flat activity, revenues down on weaker USD Q2 25
Slide 10: Gross margin
Gross margin ● Reported margin 32.2% (36.6%) Gross profit development ○ Lower capacity utilization in assembly EUR million, unaudited operations ○ Continued build of service organization in 36.6% new markets 35.0% 32.3%* 34.1% 32.2 % ● Investment ahead of revenue 25.1 % ○ Field service and installat
Slide 11: Operating costs
Operating costs Operating costs (EUR million, unaudited) ● Total opex EUR 12.1m in Q2 26, up 17% y/y ○ Sequential increase in opex reflects higher professional fees and marketing ● Cost base building for the upcoming wave ○ Teams and facilities established in Poland, Portugal, the UK and Spain 1–3 y
Slide 12: Financial position
Financial position Balance sheet Q2 26 (EUR million, unaudited) ● Balance sheet total up to EUR 155.0m (151.1m) 155.0 151.1 155.0 151.1 ○ Cash EUR 18.7m (41.6m) 18.7 ○ Equity EUR 95.0m, equity ratio 61% 41.6 39.7 44.8 ● Working capital up EUR 21.0m to EUR 89.4m 20.3 7.8 ○ Inventories up EUR 14.8m to
Slide 13: The WC build is sized to a step-change in volume
The WC build is sized to a step-change in volume RVMs sold vs. announced RVM sales pipeline Why this drives working capital (Units) ~7,000 units announced for 2026–27 delivery 8,000 Continuing to build Announced orders and appointments across the UK, Poland, Portugal and U.S. 6,000 Investment, not l
Slide 14: Cash flow
Cash flow Cash flow (EUR million, unaudited) Q2 26 ● Cash from operating activities EUR -17.0m ○ Net working capital increase of EUR 13.7m, driven by an inventory build of EUR 14.8m -17.0 ● Cash flow from investing activities EUR -6.0m ○ PP&E investments of EUR 5.6m, mainly RVMs for -6.0 throughput
Slide 15: Markets
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Slide 16: Markets prioritized from DRS second wave
Markets prioritized from DRS second wave Anticipated next wave of DRS legislation in European markets Population 2023 2024 2025 2026 2027 2028 2029 2030 Romania 19.0 Hungary 9.6 Ireland 5.3 Poland 36.7 Portugal 10.6 Greece 10.4 UK 68.4 Turkey 85.3 Serbia 6.6 Spain 48.4 France 68.3 Italy 58.9 Czech R
Slide 17: U.S. Steady execution in a mature market
U.S. Steady execution in a mature market ● Strong established U.S. position: ~45% market share, ~7k RVMs installed, 40+ years of pioneering experience ● Deliveries started on 200+ RVM orders with two Connecticut discount retailers, completion expected by end 2026 ● First Quantum installed at a Conne
Slide 18: Off to a strong start in the UK market
Off to a strong start in the UK market ● Appointed RVM supplier by four leading Appointments to date UK retailers ~5,400 RVMs to date ~1,500 Signed contract Compact RVMs to Iceland Foods Flex and Optima RVMs, exclusive, to a leading British ~650 ● UK DRS progressing on schedule towards supermarket c
Slide 19: Poland — Building into the market
Poland — Building into the market ● Poland DRS live since Oct 2025 - order intake slower than anticipated ● Envipco building position through firm orders and preferred- supplier agreements with major retail groups ● Refreshed operating model ○ Renewed team in place ○ More granular and proactive mark
Slide 20: Portugal — DRS live, activity stepping up
Portugal — DRS live, activity stepping up ● Portugal DRS launched 10 April 2026 with a grace period for industry participants — 19th EU country to implement DRS Activity increased significantly in Q2 26 as Envipco delivered 1,700 ● on secured orders across its entire product line Retail stores >400m
Slide 21: Netherlands — Record Quantum deployments
Netherlands — Record Quantum deployments ● Entered the Dutch market through a brownfield growth strategy, offering Quantums to efficiently drive collections ● Frame agreement with DMO Statiegeld Nederland from Q3 25 ● Record Quantum deployments in Q2 26, with the order book continuing to build ● Pro
Slide 22: Greece — Progressing towards national DRS
Greece — Progressing towards national DRS ● Envipco has built a strong pre-DRS market position in Greece through its local distributor ○ 500 Quantum bulk-feed collection points installed ○ Quantum and Compact assembly ● DRS launch is delayed but progressing, offering commercial opportunities for Env
Slide 23: Outlook
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Slide 24: Unlocking the potential of Envipco
Unlocking the potential of Envipco A value proposition customers trust The right solutions, reliable service, and sales teams seen as trusted partners 3x Total addressable market Driven by regulation Proved we can capture markets +30% average share across new DRS markets entered Discipline is the jo
Slide 25: Envipco growth platform
Envipco growth platform Four pillars of development building on a strong fundament Existing business Greenfield growth Brownfield growth M&A Develop current New DRS markets Existing DRS Expand markets markets markets and segments 25
Slide 26: Outlook: Disciplined execution to deliver profitable growth
Outlook Disciplined execution to deliver profitable growth ● Market tailwinds — DRS mandated across the EU and beyond. Coming launches will triple Envipco's addressable market. ● 2026 portfolio — Netherlands strong, Portugal converting, Romania robust though below 2025. Poland building despite slowe
Slide 27: Next event: 11 November 2026 – Q3 26 results
Next event: 11 November 2026 – Q3 26 results
Slide 28: Q&A Contact
Q&A Contact: investors@envipco.com For further information: www.envipco.com/investors
Slide 29: Making recycling easier.
© envipco Making recycling easier.
Slide 30: Interim financial statements (IFRS): Comprehensive Income
Interim financial statements (IFRS) Consolidated Statement of Comprehensive Income EURk (unaudited and not reviewed by the external auditor) Q2 26 Q2 25 YTD 2026 YTD 2025 Revenues 26,118 23,056 45,848 44,054 Cost of revenue (17,718) (14,606) (30,724) (27,774) Gross Profit 8,400 8,450 15,124 16,280 S
Slide 31: Interim financial statements (IFRS): Balance sheet
Interim financial statements (IFRS) Consolidated balance sheet EURk (unaudited and not reviewed by the external auditor) 30.06.2026 31.03.2026 31.12.2025 30.09.2025 30.06.2025 Intangible assets 13,943 14,453 14,082 14,229 14,207 Property, plant and equipment 28,234 23,135 24,045 21,217 21,219 Financ
Slide 32: Interim financial statements (IFRS): Cash flow statement
Interim financial statements (IFRS) Consolidated cash flow statement EURk (unaudited and not reviewed by the external auditor) Q2 26 Q2 25 YTD 2026 YTD 2025 Operating results (3,755) (1,890) (8,229) (3,906) Adjustment for: Depreciation & Amortization 2,080 2,270 4,432 4,776 Deferred revenue (820) 78
Slide 33: A global recycling technology company set for further growth
Unprecedented global market A global recycling opportunity Captured leading position in technology European markets company set for Investing in highly competitive delivery platform, products and services further growth Executed by a seasoned team Driving revenue growth and profitability