Document (260409 Business Update Q1 2026)

Q1 - 2026 Business Update

Strong growth in first quarter, acceleration ahead

Key developments s business update

Continuous development of core activities

Sales

growth of

+60%

Record

production of own energy

Best ever Q1 in

Asset-Based Mobility segment

G6% increase in the

Non-Asset-Based Energy segment

Energy supplier

>134,000 PODs1

60% growth in revenue

41.8 mio EUR Q1 26

(26.1 mio EUR Q1 25)

Record production of own energy in Q1, partly driven by the integration of wind energy into the portfolio: a 190% increase in the

Asset-Based Energy segment compared to Q1 2025.

61% growth in ABM versus Q1 2025, driven by more charging points, more sessions per point, and revenue optimization.

Secured a Walloon group purchasing contract, representing at least 15,000 additional

PODs¹ from June 1.

March ended with 20,000+ new energy customers and over 39,000 new PODs¹.

>134,000 PODs end

of March (not including the 15K new PODs and 39K new PODs starting from April onwards).

Maintaining leading Trustpilot-score of

4.7. Highest in the Belgian energy sector.

1. PODs is points of distribution

• Amid the current geopolitical situation, we were among the few suppliers who have chosen not to increase energy prices.

• To guarantee March tariffs for everyone who wants them, we kept our offices, phone lines, and mailboxes open until midnight on Monday 30 March and Tuesday 31 March.

• The result: March ended with 20,000+ new energy customers and over 3G,000 new PODs, which will go live in April and are not yet included in Q1 results.

• On April 1, energy suppliers increased their pricing by 42% on average (we 0% increase for electricity, 13% increase for gas).

  Key financials Q1 2026

  
  
  Key financials for Q1 - 2026
  
  
  
  ABE - Asset-Based Energy

  The Asset-Based Energy segment (Energy-as-a-Service) encompasses all activities related to the production and monetization of green electricity from our own generation assets (our own solar panels and wind turbines).

  Energy production

  • The portfolio was expanded with additional wind energy capacity, enhancing diversification and driving segment revenue

    growth of 1G0% (€2.1M to €6.1M).

  • In Q1 2026, an additional 3.0 MW of solar capacity and 7.5 MW of wind capacity were added through development, acquisitions, and projects under construction.

  • Micro-hydropower is being actively promoted at policy level, with the objective of integrating it into the Belgian productionportfolio despite its current underutilization.

    Plug-in batteries

  • Plug-in batteries were launched with zero upfront cost for customers with EnergyVision solar panels, enabling monetization of increased self-consumption at €0.20 per kWh.

  • Initial results show strong traction, with over 60% conversion within 24 hours, confirming the potential of asset-based

    contracts and customer adoption of additional solutions within the EnergyVision ecosystem.

    
    
    ABM - Asset-Based Mobility

    The Asset-Based Mobility segment includes all activities linked to the operation of our charging infrastructure.

    
    
    

    Higher usage of existing network

  • Average consumption per charging point increased from 860 to 975 kWh per point per

    month (+13% YoY).

  • Confirms stronger utilization of existing infrastructure.

    Revenue growth

  • Revenue increased driven by increased charging volumes (+32% across the full portfolio).

  • Additional growth came from higher e-credit revenues and a small price adjustment

    (+€0.02 vs. Q1 2025), while remaining among the lowest-priced players in the market.

    NMBS charging points roll-out in progress

  • 458 new charging points installed in Q1 2026 (vs. 240 in full-year 2025), with 330 active by end of March 2026.

  • Pipeline with 2,730 additional charging points at NMBS sites planned in 2026.

    
    
    NABE - Non-Asset-Based Energy

    The Non-Asset-Based Energy segment includes all activities related to our role as energy supplier.

    Strong growth in Wallonia

  • Secured multiple parts of the Wikipower group purchase, starting our position in Wallonia.

    
    
    

  • Expected to generate ~15,000 new PODs and support regional expansion.

    Surge in demand for fixed contracts

  • Rising energy prices drove strong demand for fixed contracts in late March.

  • Resulted in >39,000 additional PODs in March alone.

    Focus on long-term customer value

  • Launch of a loyalty program in Q2, rewarding customers based on tenure.

  • Reinforces our strategy to prioritize long-term relationships over short-term discounts.

    Expansion opportunities: plug-in batteries

  • Exploring plug-in battery solutions with no upfront investment for customers with their own solar panels.

  • Aims to increase conversion towards asset-based contracts.

    
    
    EPC

    The EPC segment includes all activities regarding development and construction of assets.

    
    
    

    EnergyVision's EPC activities decline in line with market trend

  • The EPC market remains under pressure with only limited recovery so far; despite early signs of renewed interest in solar panels driven by rising energy prices, this has not yet led to a structural demand rebound.

    Strategic focus

  • Revenue continues to decline in line with our strategy and 2026 budget, as we stay selective and focus only on projects that fit our long-term vision and profitability goals.

    
    
    Customer Care
    
    

    Where your satisfaction comes first

    
    
    

    We succeed when you are satisfied

  • Focus on customer satisfaction as a key driver to generate recurring revenues

  • Net Promoter Score stands at 40, which remains exceptionally strong within the sector

  • Maintaining leading Trustpilot ranking with a score of 4.7. The highest score in the Belgian energy industry

Outlook

QsA