Slides
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Q3 - 2026 Business Update Sustainable growth with a strong tailwind
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Disclaimer The contents of this document, including all statements made therein, are based on estimates, assumptions and other information currently available to the management. Certain statements in this presentation may be deemed to be forward-looking. Such forward-looking statements are based on current expectations and are influenced by various risks and uncertainties. Consequently, EnergyVision cannot provide any guarantee that such forward-looking statements will, in fact, materialize and cannot accept any obligation to update or revise any forward-looking statement as a result of new information, future events or for any other reason. This document, including all information contained therein, is not intended as, and may not be construed as, an offer or solicitation by EnergyVision for the purchase or disposal of, trading or any transaction in any EnergyVision securities. Investors must not rely on this information for investment decisions and are solely responsible for forming their own investment decisions. The information provided in this document is intended for information purposes only and do not constitute a prospectus or any other type of offering document pursuant to any applicable legislation.
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Key developments & business update
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Customer satisfaction keeps rising Strong revenue growth continues Wind volumes more than double Customer retention remains very strong Energy Supplier >223,000 PODs1 Q3 – 2026 Business update Expected wind volume for 2026 stands at 70 GWh, with more than 150 GWh already secured for 2027. NPS increases to 44 , Trustpilot stands at 4.7/5 based on >1,500 reviews. Despite significant growth in both Spring (organic growth) and Autumn (following the acquisition of DATS 24 customer portfolio). Revenue reached EUR 142.0 million in the first nine months of 2026. Up 52.2% year on year, confirming our strong growth momentum. 1. PODs is points of distribution Guidance reaffirmed for 2026, 2027 and 2029 Underlying EBITDA is expected to grow by 35% in 2026 and at least 40% in 2027, reaching at least €125 million by 2029. Positive free cash flow after investments is expected by 2027 at the latest. The number of connection points increased from 124,120 at the end of Q3 2025 to 223,914 at the end of Q3 2026 - an increase of 80.4%. Sustainable growth with a strong tailwind Monthly churn among non -group- purchase customers averaged just 0.7%, compared with 2% across the Flemish electricity market. One year after joining, 79% of group purchase customers remain with EnergyVision.
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Key financials Q3 2026
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Key financials for Q3 - 2026
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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 • ABE revenue increased 34% to €26.0M inthe first nine months of 2026, supported by continued expansion of the production portfolio. • More than 150 GWh of wind volume has been secured for 2027, compared with 70 GWh expected in 2026, strengthening supply security and visibility on future underlying EBITDA. • More than 1,200 PV installationswere added since the start of the year, despite challenging market conditions. • Within Turbulent, we are exploring first Belgian micro-hydropower demonstration projects in Flanders and Wallonia. Energy storage • Since the rollout began in Q2, plug&play battery installations increased from 1,095 at 30 June 2026 to 1,969 by end- September, with more than 2,500 units expected by year-end. • The 2.25 MW / 5 MWh industrial batteryat Ostend-Bruges Airport is operational, enabling further optimization of renewable generation and storage capacity .
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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 • Charging volumes increased by 50% to 22.5 GWh in the first nine months of 2026, while average volume per session increased 12.9%. • The number of unique charging cards used in Q3 rose 30.4% year-on-year, confirming stronger utilization of the network. Revenue and network growth • ABM revenue increased by 73% to €9.0M in the first nine months of this year, despite a 55% decline in HEE-F e-credit prices since the start of the year. • Operational charging points reached 4,900, up 60% compared with year-end 2025 Contracted rollout provides visibility • Around 3,000 new charging pointsare being built this year under the NMBS and MOW contracts, with the final 500 expected to be operational by February 2027. • Continued network expansion and rising utilization provide a strong base for further volume growth.
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NABE – Non-Asset-Based Energy The Non-Asset-Based Energy segment includes all activities related to our role as energy supplier. Scale and market position • Connection points reached 223,914, up 80.4% year-on-year and 27.4% in Q3, making EnergyVision the sixth-largest residential energy supplier in Flanders. • Growth was supported by more than 15,000 connections in Walloniaand over 26,000 DATS 24 connections succesfullytransferred on 1 September. Retention supports recurring value • Monthly churn among non group purchase customers averaged just 0.7%, compared with 2% across the Flemish electricity market. • 79% of group purchase customersremained with EnergyVision one year after joining. Organic and inorganic growth • Organic inflow exceeded 1,000 new customers per weekin recent weeks, without marketing support. • Following the smooth integration of DATS 24, further acquisition opportunities are being actively evaluated to accelerate growth.
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EPC The EPC segment includes all activities regarding development and construction of assets. Disciplined approach in a pressured market • EPC revenue declined 22% to €26.2M, in line with strategy and budget, as EnergyVision remains selective on new projects. • China remains on track to deliver its targeted projects, while activity in Morocco increased in line with expectations. Additional upside from public sector tender 'Opdrachtencentrale' • First applications under the public charging infrastructure tender 'Opdrachtencentrale' were processed in September. • Potential revenues from this tender are not included in current guidance and therefore represent additional upside.
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Industry leading customer satisfaction despite strong organic growth Customer satisfaction scales with growth • Trustpilot and Google scores remain at 4.7/5, while NPS increased from 43 to 44 in Q3. • Customer satisfaction remained high despite rapid organic growth in spring and the integration of the DATS 24 customer portfolio in autumn. • Stable satisfaction levels, a rising NPS and a rapidly expanding customer base demonstrate the scalability of EnergyVision’s service modeland support predictable recurring revenues.
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Outlook
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Management reaffirms its guidance : underlying EBITDA is expected to grow by 35% in 2026 and by at least 40% in 2027, reaching at least €125 million in 2029. Positive free cash flow after investments is expected by 2027 the latest. Outlook
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Q&A