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FY25 Results Presentation 12 AUGUST 2025 For personal use only
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2 Disclaimer This document has been prepared by LGI Limited ACN 138 085 551 (LGI or the Company) to provide summary information about the Company and its associated entities. This document is issued on a confidential basis and for information purposes only. The information in this document remains subject to change without notice. The Company has no obligation to update or correct this document. This document is intended only for those persons to whom it is delivered personally by or on behalf of the Company. 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3 Contents 1 Highlights 2 Financial Performance 3 Operational Performance 4 Projects and Strategy Update 5 Outlook & Guidance 6 Appendix For personal use only
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4 Founded in 2009 (as Landfill Gas Industries Pty Ltd), LGI is an established domestic leader in the recovery of biogas from landfill, and subsequent conversion into renewable electricity and saleable environmental products Installation, operation and maintenance of biogas extraction infrastructure and flaring systems for landfill owners, under service agreement only LGI revenue derived from fee-based work 1. Australian carbon credit units (ACCUs). 2. Large-scale generation certificates (LGCs). Who is LGI? With vertically integrated operations, LGI’s solutions create diversified revenue streams, generated from three key sources: One of Australia’s leading vertically integrated landfill gas companies BEHIND THE METER ENERGY CUSTOMER LANDFILL BIOGAS POWER STATION BIOGAS FLARE POWER GENERATION AND FCAS³ BATTERY NATIONAL ELECTRICITY GRID (NEM) BIOGAS RECOVERY SITE INFRASTRUCTURE AND MANAGEMENT Installation of flaring systems on landfills for creation of ACCUs¹, long-term agreements (12+ years) LGI revenue derived from the creation and sale of ACCUs¹ Installation of build-own-operate power generation systems on landfills – typically long-term agreements (15+ years), with high quality customer base (majority local governments) LGI revenue derived from the sale of electricity, LGCs² & ACCUs¹ GREENHOUSE GAS ABATEMENT RENEWABLE ELECTRICITY 3. Frequency Control Ancillary Services (FCAS). 1 Australian Carbon Credit Units (ACCU) 2 Large-scale Generation Certificates (LGC) 3 Frequency Control Ancillary Services (FCAS) For personal use only
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FY25 Highlights FY25 RESULTS For personal use only
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6 Strong FY25 EBITDA growth, solid operating performance & momentum into FY26 Simultaneously delivering step change growth in fleet size and earning capability • Zero lost time injuries for FY25, compared to two lost time injuries pcp • New high watermark for key operating metrics; biogas recovery up 11% pcp to 127.7 million cubic meters, supporting ACCU creation up 14% pcp to 493k, and over 109,000 MWhs produced up 13% pcp • Generator availability 98%, increasing from 97% pcp • While total net revenue grew by 10%, operations maintenance costs only increased 5%, increasing the gross margins • Increased MW operating capacity to 21.1MW as at 30 June 2025, up 43 % pcp, starting FY25 with 14.7MW • Canberra (Mugga Lane) phase 1 of upgrade, achieved a 50% increase in capacity from 4.2MWs to 6.4MWs. Phase 2 of upgrade progressing with delivery of 12MW / 24 MWh of Tesla batteries, likely commissioning in H2FY26 • Construction of the Sydney (Eastern Creek) 4.2MW power station delivered on time and on budget in June 2025, despite challenging weather conditions • Completed new gas field installations and flare upgrades at Esk QLD, Tumut NSW and Grafton NSW, increasing ACCU sites to 16, contributing to the record ACCUs created in FY25 • Near term contracted development pipeline expands from 47MW to 56MW, including the Belrose battery project – see slide 26. • EBITDA up 14% pcp to $17.4M (towards top end of guidance range1), NPAT down 3% pcp to $6.5M • Capex build out driving higher interest and depreciation as assets are commissioned • Operating cash flow $12.3M up 24% pcp, partial conversion of the ACCU bank to cash flows offset by higher interest and tax cashflow. Capex $18.6M funded by operating cash flows $9.2M and debt $9.4M • Fully Franked dividend of 1.3 cents per share taking total dividend for FY25 to 2.5 cents per share • Signed 6 new contracts in FY25, five landfill gas right contracts and one battery contract Results summary Growth in fleet capacity Operational excellence 1 FY25 Guidance, EBITDA growth of between 12% and 15% For personal use only
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7 21 12 12 11 56 15 2 4 Capacity Beginning FY25 Mugga Lane 2MW Commissioned FY25 Bingo 4MW Commissioined FY25 Capacity end FY25 Mugga Lane Batteries Belrose Batteries Contracted site Total Pipeline as at 30 June 2025 (MW capacity) Expanded contract development pipeline Updated project pipeline LGI increased operating MW capacity by 43% in FY25 LGI has expanded the project pipeline of contracted, high conviction projects to be commissioned in the near term. Target capacity is now 56MWs. LGI is adding the Belrose battery (see slide 26) capacity to the pipeline. Once conditions precedent are met, this will be a 12MW / 24MWh capacity Battery Energy Storage System (“BESS”) which LGI will build, own and operate at the closed Belrose landfill. The Belrose landfill is owned by Waste Assets Management Corporation (WAMC), a NSW Government State Owned Corporation. Battery product sizing has been updated by the supplier since LGI announced the original project pipeline in April 2024. The batteries are now larger per unit, with the larger batteries facilitating improved unit cost efficiencies. The Mugga Lane battery project now 12MW / 24MWh, compared to the originally quoted 14MW / 28MWh. Near-term pipeline now targeting 56 MW capacity 15 2 14 4 11 1 47 Beginning FY25 Mugga Lane 2.0 Mugga Lane Batteries Bingo Contracted site Dakabin Total Pipeline announced at investor update from April 2024 For personal use only
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8 34 1 Contracted sites 9 Power Stations 16 Carbon Credit Sites Footprint Growing pipeline with 6 new contracts signed in FY25 – both landfill gas rights and battery sites 1 LGI’s contract with Midcoast Council includes two sites, Taree and Tuncurry. Tuncurry is subject to feasibility assessment. Battery site in construction or under assessment Carbon site in construction or under assessment For personal use only
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Financial Performance FY25 RESULTS For personal use only
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10 Profitability and Return Increased Revenue & EBITDA LGI’s net revenue increased 10% pcp from increased volume of all key commodities, MWhs, LGCs and ACCUs. Step up in Depreciation and Amortisation as power station assets commissioned during FY25. Net interest expense increased following draw down of part of the LGI debt facility. Underlying EBITDA margin increased to above 50%, using net revenue. 1. Australian Energy Market Operator (AEMO). Source: https://aemo.com.au/en/energy-systems/electricity/national-electricity-market-nem/data-nem/data-dashboard-nem 1 Net revenue removes the value of the ACCUs provided to landfill owners as in- kind satisfaction of royalty payments. EBITDA and EBIT margins use Net Revenue. $'000 FY25 FY24 % Change Statutory Revenue and Other Income (excl. Interest Income) 36,789 33,310 10.4% Net revenue (net of ACCU royalty) 33,940 30,876 9.9% Statutory and Underlying EBITDA 17,366 15,281 13.6% Depreciation and Amortisation 6,481 5,347 -21.2% Statutory and Underlying EBIT 10,885 9,934 9.6% Net Interest Expense 2,123 1,009 110.4% Tax 2,286 2,252 1.5% Statutory and Underlying Net Profit After Tax (NPAT) 6,476 6,673 -3.0% EBITDA margin 51.2% 49.5% EBITDA growth 13.6% EBIT Margin 32.1% 32.2% EBIT Growth 9.6% Statutory Diluted Earnings per Share (Cents) 7.3 7.5 -2.7% Dividend (Cents) 2.50 2.40 4.2% Weighted average number of shares diluted 88.8 88.5 0.3% For personal use only
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11 43% 40% 9% 8% FY24 Revenue Revenue contribution growing across multiple sources Electricity revenue ACCU revenue LGC revenue Infrastructure construction and Site Management revenue FY25 total net revenue +10% versus FY24 Net Revenue by source 1 1 These Charts do not include Statutory Other Revenue. Net revenue removes the value of the ACCUs provided to landfill owners as in-kind satisfaction of royalty payments LGI’s revenue skewed towards ACCU revenue as ACCU volumes and pricing increased. Revenue ($'000) FY25 FY24 % Change Electricity (including hedge position and FCAS) 13,222 13,371 -1.1% Renewable Large Generation Certificates (LGCs) 3,854 2,774 38.9% Net Carbon Abatement (ACCUs) 14,439 12,199 18.4% Infrastructure Construction and Site Management 2,370 2,447 -3.1% All Other revenue (excluding interest) 55 85 -35.1% Total Net Revenue 33,940 30,876 9.9% 39% 43% 11% 7% FY25 For personal use only
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12 - 50.00 100.00 150.00 200.00 250.00 Jul-24 Sep-24 Nov-24 Jan-25 Mar-25 May-25 Jul-25 Sep-25 Nov-25 Jan-26 Mar-26 May-26 Jul-26 Sep-26 Nov-26 Jan-27 Mar-27 May-27 Jul-27 Sep-27 Nov-27 Jan-28 Mar-28 May-28 Actual & forward elelctricity prices ($/MWh) Queensland New South Wales Queensland forward prices New South Wales forward prices Generation1 – Electricity and LGCs Underlying growth in MWhs FY25, LGI commissioned a 50% increase in the operating capacity at the Canberra Power Station (Mugga Lane) while also commissioning a new Sydney Power Station (Eastern Creek - BINGO) in June 2025. This is the primary reason for the increase in MWhs. Gross margin slight improvement following slightly lower maintenance costs. Source: Actual prices (AEMO, https://aemo.com.au/en/energy-systems/electricity/national-electricity- market-nem/data-nem/data-dashboard-nem ), forward prices (ASX, https://www.asxenergy.com.au/futures_au ) Forward curve average across the 4 year (FY25 to FY28) period; QLD $100.59, NSW $119.33. Volatility in the actual monthly numbers is evident. 1. 1 The Generation segment includes all revenue and costs associated with the creation of electricity revenue (all generation sites). Where a site started generating electricity during the period, it is only included in this segment for the months after it started generating electricity. 2. 2 Gas flows are included for all generation sites. Numerous sites, both electricity generation and carbon abatement occurs . The gas flows for these sites is included in both segments. Generation segment FY25 FY24 % Change Operation Metrics Biogas Flows (Mm3) 89 83 6.5% MWhs Generated 109,119 96,326 13.3% LGCs Created 107,402 95,683 12.2% Profitability Electricity (including hedge position and FCAS) ($'000) 13,222 13,371 -1.1% Renewable Large Generation Certificates (LGCs) ($'000) 3,854 2,774 38.9% Total Revenue ($'000) 17,076 16,145 5.8% Gross Margin ($'000) 12,451 11,467 8.6% Gross Margin percentage (%) 72.9% 71.0% +189 bps For personal use only
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13 Carbon Abatement 1 – ACCUs Ongoing ACCU volume growth 1. 1 The Carbon Abatement segment includes all revenue and costs associated with the creation of ACCUs (most generation sites and flaring sites). Where a site starts carbon abatement during the period, it is included in this segment from the months it started creating ACCUs. Source, actual data: https://www.reputex.com/ Improved gas flows at most sites contributed to higher ACCU volumes. ACCU integrity improvements will result in changes to the method LGI claims ACCUs. LGI is actively involved in industry consultations on these changes. These changes are expected to be implemented in FY26. ACCU price traded in a tight band for FY25 as Safeguard Mechanism companies went through their first year of calculation reporting and acquittal of ACCUs. - 5.00 10.00 15.00 20.00 25.00 30.00 35.00 40.00 ACCU spot price FY25 ($) 1. 2 Gas flows are included for all carbon abatement sites. This will include both electricity generation and flaring sites. The gas flows for generation sites will be included in both segments. Carbon Abatement segment FY25 FY24 % Change Operation Metrics Biogas Flows (Mm3) 102 94 8.8% ACCUs Created 493,446 432,804 14.0% Profitability ACCU revenue ($'000) 17,288 14,633 18.1% Gross Margin ($'000) 13,481 11,746 14.8% Gross Margin Percentage(%) 78.0% 80.3% -229 bps For personal use only
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14 Infrastructure Construction & Landfill Gas Management LGI as a trusted infrastructure partner Infrastructure revenue down on FY24, with a focus in FY25 on gas flows flaring and generation sites. Margins continue to be strong for Infrastructure Construction work. Site Infrastructure and Management FY25 FY24 % Change Profitability Infrastructure Construction revenue ($'000) 1,677 1,832 -8.5% Landfill Gas Management revenue ($'000) 693 615 12.7% Total Revenue ($'000) 2,370 2,447 -3.1% Gross Margin ($'000) 1,425 1,018 40.0% Gross Margin Percentage (%) 60.1% 41.6% +1853 bps For personal use only
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15 Balance Sheet Considerable growth in asset base ACCU balance in FY25 lower than FY24 as LGI used the sale of the ACCUs to partly fund the capex program. LGI continues to develop and build projects, resulting in asset growth. Partly funded by an increase in the drawn down balance of the debt facility. Total debt facility of $49.9M with availability on 30 June 2025 of the facility of $20.2M. 1. Australian Energy Market Operator (AEMO). Source: https://aemo.com.au/en/energy-systems/electricity/national-electricity-market-nem/data-nem/data-dashboard-nem Balance Sheet ($'000) FY25 FY24 Assets Cash 3,357 2,438 Trade Receivables 1,610 876 ACCU Environmental Certificates 12,026 14,035 LGC Environmental Certificates 1,485 957 Property Plant and Equipment 72,849 57,360 Goodwill 314 314 Other Receivables and Other Assets 21,429 12,611 Total Assets 113,069 88,591 Liabilities Trade Payables 13,206 3,722 Lease Liabilities 1,882 3,077 Debt Facility 28,600 19,200 Other Payables and Other Liabilities 11,612 9,789 Total Liabilities 55,300 35,788 Equity Issued Shares 33,660 32,231 Reserves and Other Equity Items (7,958) 197 Retained Earnings 32,066 20,375 Total Equity 57,769 52,803 For personal use only
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16 Cash flow Operating cashflow positive while growth investment continues LGI continues to be operating cash flow positive, even while building out the capex program. FY25 cash conversion of 71% improved from FY24 65%, partly from the sale of ACCU position. Capex program spend of $18.6M, partly funded by the debt facility and partly by operating cash flows. 1. Australian Energy Market Operator (AEMO). Source: https://aemo.com.au/en/energy-systems/electricity/national-electricity-market-nem/data-nem/data-dashboard-nem Cash Flow ($'000) FY25 FY24 % Change Statutory and Underlying EBITDA 17,366 15,281 13.6% Statutory and Underlying Operating Cash Flow 12,319 9,913 24.3% Statutory and Underlying EBITDA Cash Conversion 70.9% 65.0% 594 bps Statutory and Underlying cash from operating activities 12,319 9,913 24.3% Statutory and Underlying cash (used) in investing activities (17,653) (22,716) 22.3% Statutory and Underlying cash from financing activities 6,253 15,189 -58.8% Underlying net change in cash and cash equivalents 919 2,386 -61.5% For personal use only
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17 Capex Pipework installation includes drilling wells, pipe laid back to flare or power station, labour and materials. The sites where LGI absorbs the cost of the pipework are the sites which are included in capex spend. Step up in pipework for FY25 includes the initial installation of pipework for Tumut, Esk, Grafton and Eastern Creek Sydney. Project capex for FY25 includes: • Canberra 2 new generation units, associated high voltage equipment, electrical switch gear, cabling; • Canberra battery installation includes, earth works; • Eastern Creek Sydney power station, generation units, high voltage equipment, switch gear and earth works; • Multiple flare construction Sustaining capex is required to maintain assets and equipment; and other asset purchases. Elevated project capex to support build-out underpinning future growth 8.6 13.4 13.1 0.9 0.8 3.4 1.9 2.5 2.1 FY23 FY24 FY25 Capital expenditure ($M) Project capex Pipework installation Sustaining capex For personal use only
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Operational Performance FY25 RESULTS For personal use only
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19 Growing Biogas Flows LGI continues to "chase the gas", ensuring maximum practical gas flow is achieved at each site A new LGI record achieved for biogas recovery over FY25. To support additional MW of generation in FY25, LGI focused on increasing gas flows at strategic sites such as Canberra (Mugga Lane) and Sydney (Eastern Creek). Other major work included Tumut NSW, Hawkesbury NSW, Grafton NSW, Caboolture QLD, Bunya QLD and Maryborough QLD. 87.2 100.4 113.0 115.4 127.7 FY21 FY22 FY23 FY24 FY25 Biogas flows (million cubic meters) CAGR 8% LGI gas field team completing work at Mugga Lane For personal use only
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20 Energy Generation Growth in generation reflects high levels of availability and increased capacity LGI continues to focus on availability and optimising the Company’s flexible assets operation based on market pricing using DACS. This will continue to be a strategic focus whilst LGI expands its battery capability. Including FCAS revenue, LGI’s Bunya power station achieved 70% above the average AEMO price for FY25. 96% 97% 96% 97% 98% 95% FY21 FY22 FY23 FY24 FY25 Generator availability (% of period) 80.9 87.5 94.4 96.3 109.1 FY21 FY22 FY23 FY24 FY25 Annual Renewable Electricity Generation (GWhs) CAGR 6% The assembly of Sydney (Eastern Creek) LGI target For personal use only
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21 Growing Carbon Credits LGI increased biogas recovery, translating to higher ACCU creation volume LGI utilising both drill rigs at Mugga Lane Increased gas flows achieved as we added new sites into our portfolio, and added resource capacity into our gas field team. This directly resulted in higher ACCU creation volumes. 326,850 402,225 420,804 432,804 493,446 FY21 FY22 FY23 FY24 FY25 ACCUs Created CAGR 9% For personal use only
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Projects and Strategy FY25 RESULTS For personal use only
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23 Canberra (Mugga Lane) phase 1 expansion complete Two additional generation units commissioned January 2025, batteries delivered June 2025 1. Australian Energy Market Operator (AEMO). Source: https://aemo.com.au/en/energy-systems/electricity/national-electricity-market-nem/data-nem/data-dashboard-nem 6 x 2MW/4MWh Tesla batteries, delivered to site in June 2025 2 x 1MW Jenbacher engines commissioned in November 2024 Canberra (Mugga Lane) capacity increased by 50%. Generated electricity reached over 39,000 MWhs in FY25, a 16% increase on FY24. The added generation provides a strong position for FY26. 20MW dedicated network connection commissioned in October 2024 4 x 1MW existing Jenbacher engines recommissioned January 2025 For personal use only
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24 Sydney (Eastern Creek) complete Commissioned in June 2025, on time on budget 1. Australian Energy Market Operator (AEMO). Source: https://aemo.com.au/en/energy-systems/electricity/national-electricity-market-nem/data-nem/data-dashboard-nem 4 x 1MW Jenbacher engines commissioned in June 2025 Sydney (Eastern Creek - BINGO) was commissioned June 2025 and generated 2,667 MWhs in FY25. The project was delivered on time and on budget, with current capitalised capex within range previously announced at $16.7M. 4MW connection, supplying BINGO and exporting to the grid 2 x gas conditioning skids, designed and constructed by LGI technicians Earthworks required the removal of 41,000 cubic meters of material Provisions for 2 more generators pending extra biogas and grid capacity Provisions for 2 SRS units pending biogas quality For personal use only
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25 Three Carbon Abatement Projects Commissioned New landfill gas collection systems and flares commenced, at Esk QLD, Grafton NSW and Tumut NSW. LGI secured a new long term biogas rights contract with Clarence Valley Council in December 2024. LGI’s team mobilised to site in February 2025 and completed extensive upgrade work by April 2025. This work has already achieved a 120% increase in average monthly biogas recover rates. The Grafton landfill is now contributing additional ACCUs to LGI’s growing portfolio. LGI secured a new long term biogas rights contract with Tumut Waste in December 2023. LGI’s team completed the initial installation and ongoing extensions to the gas collection system through FY25. Given recovered biogas flows have increased by 110% over the FY, the original flare was upgraded in late FY25 to facilitate further increases in abatement. The site now features a 1,000 cubic meter per hour flare. Flare at Grafton, NSW Flare at Tumut, NSW Gas recovery at Esk LGI secured a new long term biogas rights contract with Somerset Regional Council in June 2023, and commenced ACCU creation by December 2024. The regional site is one of our smaller operating abatement projects, but demonstrates the flexibility of our model. Flare at Esk, QLD For personal use only
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26 Newly contracted site - energy segment expansion LGI is pleased to announce that it has entered into a contract with WAMC to explore the viability of building, owning, and operating a 12-megawatt (MW) grid-scale battery energy storage system ("BESS") at WAMC’s Belrose closed landfill site in Northern Sydney. Under the agreement, LGI will build, own, and operate a BESS at Belrose for an initial term of 15 years, with two options for five-year extensions. The contract is subject to conditions precedent, including regulatory approvals and grid connection cost agreements, which must be satisfied before development commences. Following satisfaction of the conditions precedent, LGI will commence development of a BESS, with installation and commissioning scheduled for early 2027. The project aligns with LGI’s strategy of expanding its grid-scale battery portfolio, providing downside protection of price for our existing fleet of generation, while offering flexible capacity to support energy market stability. Revenue from the BESS is expected to be derived from electricity spot market opportunities and grid support services, leveraging LGI’s Dynamic Asset Control System ("DACS") technology, which has been successfully deployed at other sites. Near-term pipeline now targeting 56 MW capacity Size of Belrose project similar to LGI’s Canberra facility. Canberra facility using Telsa batteries (photo above). For personal use only
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27 Newly contracted sites – carbon abatement portfolio expansion LGI was successful in securing 5 new long term landfill biogas contracts. These new sites are: Jandowae Qld – signed late December 2024, site forecast to come online in 1H 2025 Warwick Qld – signed late November 2024, site forecast to come online in 1H 2025 Grafton NSW – signed December 2024, site upgraded by 2H FY25, with healthy biogas flows and ACCU creation Taree NSW – signed June 2024, site forecast to come online though 1H FY26, scheduled following flood clean up of region Lithgow NSW – signed December 2024, site forecast to come online in 1H FY26. Each of these sites have received Clean Energy Regulator approval as site to create ACCUs LGI successfully added 5 additional new long-term biogas rights contracts thorough FY25 Flare manufacturing already underway given the new biogas rights contracts. These sites help lay important foundations for continued growth of our carbon abatement portfolio. For personal use only
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28 LGI electricity market strategy - 50.00 100.00 150.00 200.00 250.00 300.00 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 $/MWh Qld AEMO spot price - 25% to 75 % percentile points with spread trendline - 50.00 100.00 150.00 200.00 250.00 300.00 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 $/MWh NSW AEMO spot price - 25% to 75 % percentile points with spread trendline LGI’s strategy is to expand its fleet of flexible electricity generation assets and deploy grid scale batteries to strengthen the Company’s portfolio while supporting Australia’s energy transition. Providing electricity when it is needed directly into the distribution grid. The energy transition is well documented, with notable changes to electricity supply and demand over the previous 10 years. As with any transition, there will be times of disruption and volatility. This volatility is evident in the wholesale price of electricity. One way of demonstrating this volatility is by looking at the top quartile of electricity prices, less the bottom quartile of prices. The charts on the left show these quartiles on a monthly basis over the previous 2 years. The blue line is the absolute spread trend line. It is noted that this trend line is increasing in both QLD and NSW. This way of measuring the volatility is relevant for the operation of a battery. The lowest quartile being the price the battery can charge from the grid, and the higher quartile being the price the battery can discharge to the grid. Average time of day pricing for FY25 continues to demonstrate the evening peak characteristic. - 100.00 200.00 300.00 400.00 500.00 600.00 700.00 0:05 0:40 1:15 1:50 2:25 3:00 3:35 4:10 4:45 5:20 5:55 6:30 7:05 7:40 8:15 8:50 9:25 10:00 10:35 11:10 11:45 12:20 12:55 13:30 14:05 14:40 15:15 15:50 16:25 17:00 17:35 18:10 18:45 19:20 19:55 20:30 21:05 21:40 22:15 22:50 23:25 0:00 $/MWhs Time of day - 24 hour clock FY25 average time of day elelctricity wholeslae price - Qld and NSW Queensland New South Wales LGI strategy is supported by underlying volatility present within the energy marketFor personal use only
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29 21 12 12 11 56 15 2 4 Capacity Beginning FY25 Mugga Lane 2MW Commissioned FY25 Bingo 4MW Commissioined FY25 Capacity end FY25 Mugga Lane Batteries Belrose Batteries Contracted site Total Pipeline as at 30 June 2025 (MW capacity) 27 28 32 34 FY22 at IPO FY23 at reporting date FY24 at reporting date FY25 at reporting date Number of contracted sites Updated project pipeline near term LGI updated project pipeline. All pipeline sites are under contract Mugga Lane batteries are forecast to be commissioned in 2H FY26, subject to AEMO approvals. The 12MW / 24MWh capacity increase is all batteries. Belrose project is a 12MW / 24 MWh battery project Contracted site is forecast to be 3MW of generation and 8MW / 16 MWhs of batteries. Significant growth in MW capacity from FY24 to FY26 – with continued focus on growth in new landfill gas sites Commissioned in FY25 2x MW capacity from beginning FY24 to end FY26 LGI continues to focus on growing the contracted sites under management. The Company’s success in securing new contracts spans from smaller regional landfills, through to larger metropolitan landfill sites, and former landfill sites. With scalable technology, LGI is uniquely placed to unlock value from Australia’s landfill sites and play a continued and more meaningful role in the energy transition. CAGR 6% Forecast Commiss ioning in FY26 For personal use only
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Outlook & Guidance FY25 RESULTS For personal use only
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31 Outlook & Guidance Growth and continued operational excellence Deliver key near- term projects, expansion of Canberra, Belrose battery GUIDANCE: FY26 EBITDA expected to grow by 25 – 30% versus FY25, subject to market dynamics, operational and timing issues outside the control of the Company Continued focus on Health, Safety, Environment and Quality Explore the expansion of power stations on contracted sites Work on contracted landfill sites to expand the gas collection facilities Actively pursue new opportunities for landfill gas management, generation and batteries LGI’s FY26 priorities, leveraging the momentum from FY25: For personal use only
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Appendix FY25 RESULTS For personal use only
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33 Board VIK BANSAL Non-Executive Chair ANDREW PETERS Non-Executive Director ABIGAIL CHEADLE Non-Executive Director and Audit & Risk Committee Chair ADAM BLOOMER Managing Director and Founder DR. JESSICA NORTH Executive Director and Chief Sustainability Officer Vik, appointed chair in April 2021, is CEO and Managing Director of Boral. Vik will be retiring from this position in early FY26. Vik is a Non- executive Director and Chair elect of Orica, Non- executive Director of Brambles and Washington H. Soul Pattinson. Adam established LGI in 2009 to provide high quality biogas solutions for landfill sites across regional Australia, and he has since been the Company’s Managing Director. Abigail was appointed (Non- Executive Director) NED and (Audit & Risk Committee) ARC Chair of LGI Ltd in April 2021. Andrew was appointed Non- Executive Director of LGI in January 2018 and is on the Audit and Risk Committee. Over 20 years’ of experience in the waste industry, in particular carbon abatement and biogas management from landfills. Tim invested into LGI Ltd in 2011 as the cornerstone investor. He was appointed Chair of the Board from January 2018 – March 2021. TIMOTHY MCGAVIN Non-Executive Director and Chair of Remuneration & Nominations Committee For personal use only
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34 Assisting expedite energy transition through the generation of dispatchable distributed renewable energy Highly credentialed and experienced team with combined expertise in landfill, electricity and carbon END-TO-END SOLUTION SIGNIFICANT GROWTH PROSPECTS VERTICALLY INTEGRATED DIVERSIFIED REVENUE STREAMS RENEWABLE ENERGY DECARBONISATION EXPOSURE INNOVATION AND TECHNICAL INGENUITY SCALABLE MODEL Favourable industry dynamics, providing greenhouse gas abatement Incorporating synergistic technologies to optimise biogas extraction + yield (DACS, etc) Early in its market penetration, with domestic expansion Operating platform expanding 34 sites, with long term contracts Generated by site infrastructure & management, greenhouse gas abatement and renewable energy Pipeline to result in considerable electricity capacity uplift LGI Value Proposition LGI strives to deliver value with its vertically integrated business model in a number of key areas at the intersection of the waste, electricity and carbon sectors For personal use only
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35 LGI Award Winning Year LGI projects have been recognised by our peers as innovative and sustainable WRIQ Waste Recycling Industry Association (QLD) • LGI received an award for Environmental Innovation of the Year • Award received for the Bunya Renewable Hybrid Project IPWEA Institute of Public Works Engineering Australia • LGI won 3 awards at the 2024 IPWEA awards • The Toowoomba project won for Innovation & Sustainability in Water – providing renewable energy to the Wetalla sewage treatment plant • Environment & Sustainability for Bunya Power Plant with Battery • Public Works Project of the Year for the Toowoomba project LGI’s focus on ensuring highest quality power station construction combined with Australia first technology innovation, is now achieving recognition from industry groups SIM-PAC Sustainable Industrial Manufacturing (Asia Pacific) • LGI received an award for ‘Outstanding Efforts in Advancement of the Bioeconomy Sector’ For personal use only
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36 Profitability Drivers LGI growing EBITDA since listing, notwithstanding the price movements of key underlying commodities Using a base year of FY22, being the year LGI listed on the ASX, LGI’s EBITDA continues to grow. LGI is achieving growth in years where the average key commodities prices decrease (FY23 and FY24). - 20 40 60 80 100 120 140 160 FY22 FY23 FY24 FY25 Starting in June 2022 as base 100 Key commodity price movements and EBITDA movement (using Jun-22 as base 100) Avg ACCU Avg elelctricity price Underlying EBITDA For personal use only
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LGI LIMITED AUSTRALIA ABN. 49 138 085 551 57 Harvey Street North Eagle Farm 4009 QLD 07 3711 2225 enquiries@lgi.com.au www.lgi.com.au ABN 49 138 085 551 For personal use only