Energy S p A : Presentazione London roadshow

London Roadshow 13th June 2024

Today's

Speakers

Davide Tinazzi

Co-Founder & CEO

• PhD in Engineering, Master in Project and Innovation Management
• Former Project Manager
  in the field of nanotechnology
• Served as COO in former Mitsubishi Electric Klimat Transportation Systems

Daniele Manfroi

CFO

• MBA, Degree in Business Management, post- graduate Master in Environmental Management
• Former Auditor in Quality, and EHS certification
• Served as Quality and EHS manager in Mitsubishi Electric Klimat Transportation Systems

2

Contents

Energy At A Glance

Introduction to the company and current global positioning

FY 2023 Financial Results

Annex

3

Powering the energy of the future.

For over 10 years, we have been creating storage and management systems of all sizes, from home to industry, up to grid scale.

Energy was founded in 2013 with a dream:

make clean energy accessible to everyone, and at any time of day.

We develop systems that store energy from every sources, and combined with our advanced software, we empower everyone

to store, monitor, and manage renewable

energy like never before.

4

Snapshot

Our zeroCO2 Product Range

From Residential to Commercial to Grid-scale

Our Services

• Project design and management
• Energy Management Systems integration
• Predictive data analysis (down to single cell)
• Arbitrage and trading
• Weather forecast integration
• Services to the grid

1000 MW System supplied to strawberry farm in Sicily, with EMS system allowing solar autoconsumption + arbitrage and weather planning

Facts and Figures:

62,000+	~7%*	300+ MW	1+ GWh
storage systems sold by	Share of Italian BESS	total power of storage	capacity sold by Energy
Energy since 2013	market	systems sold by Energy	since 2013
		since 2013

*Source: company estimate based on Gaudi data	5

Sustaining Growth: Global Megatrend

BESS a key component of most countries' pathway to net-zero greenhouse gas emissions, driven by regulation and awareness of the urgency for a sustainable energy transition.

GLOBAL

ITALY

Others

Japan

Australia

Residential

Commercial & Industrial

Solar + BESS Pay-back7-8years, thanks to 50% deductibility

Energy Communities - €5.7bnset aside for subsidising tariffs and investments.

Pay-back for businesses can be as low as 5-6yearswithout subsidies.

EU-funded PNRR recovery plan €6.3bnfor energy efficiency

Italy

US

Germany

BNEF cumulative residential energy storage forecast (source: Bloomberg NEF's battery market analysis Nov. 2023)

Grid-scale	€17.7bn allocated for storage site
	auctions by national grid operator Terna
EUROPE
Made-in-EU	EU passing laws encouraging renewables
	projects to "Buy European"
Grid-scale	Recent study* says €28bn by 2030
Forecasts
	* Aurora Energy Research

6

Strategic Positioning

Energy insourced some strategic hardware and software manufacturing activities, thus becoming a Full System Integrator (BESS integrated manufacturer) and controlling a significant part of ESS value chain. Investing in acquisitions for vertical integration and digitalization remains a consistent point of the strategy pursued.

2013

2021

2023

Pure battery	System or product	Integrated battery	Pure software	Advanced System
producers	integrator	producer	provider	Integrator

Full System Integrator

Reference national and international players for each market position:

7

Northern Italy's First Gigafactory

Construction started in 2023 on 11,000 m2 site for cobalt-free LFP

Completion scheduled for Q1 2026

Grant secured for €7.15m Out of €40m total investment required

First battery due to roll off in 2024

Security of supply from JV with Pylon Technologies -

worldwide leader for storage batteries manufacturing

Production

Capacity in	Sold in 21-23	End 2024 Capacity	Full Capacity (Q1 26)
Context
	>500 MWh	700MWh	7.7 GWh

8

Go-to-Market

Energy's sales network consists of both electrical goods distributors and photovoltaic specialists. Energy also works with large European EPCs. Energy does not sell

directly to the final consumer.

Selected supplies based on technical specifications dictated by Energy

Small&Large ESS

(zeroCO2 branded)

Product sales

Small&Large ESS

(white label)

Product sales

Extra Large ESS

(zeroCO2 branded)

Product and cloud monitoring system service sales

Distributors

Italian and EU

• Specialists
• Generalists

Value-added resellers

EPC contractors

Utilities

Installers

Residential and Small

C&I end-users

• Multiutilities
• Installers

Residential end-users

Condominiums, large C&I and

utility scale end-users

• Multiutilities
• EPC

9

Financials

Revenues

140,0

120,0			Extraordinary market
100,0			conditions, stemming
		from Superbonus
80,0			subsidy
60,0				126,5
40,0					63,3
			51,5
20,0
12,5	20,3
0,0
2019	2020	2021	2022	2023

EU & Extra-EU Revenues

20,0

							•	€26m order from
15,0								Austrian
							motorway co
							•	Acquisition of
								DACH-focused
10,0								system integrator
			19,0				Enermore
						14,6
5,0
		6,7
0,0
2021	2022	2023		2024

EBITDA

35,0

30,0

25,0

20,0

15,0				32,2
10,0
5,0		2,1	10,4		10,1
1,2
0,0
2019	2020	2021	2022	2023

XL System Revenues

5,0
4,0
3,0
2,0			3,8		4,4
1,0
		0,8
0,0
	10

2021

2022

2023