Slides
Page 1
Trading Update Q4 2024 16 January 2025 Trading Update Q3 2025 16 October 2025 Gentbrugge in Belgium - a fully electric service area
Page 2
Disclaimer IMPORTANT: please read the following before continuing The following applies to this document, the oral presentation of the information in this document by Fastned B.V. (the Company) or any person on behalf of the Company, and any question-and-answer session that follows the oral presentation (collectively, the Information). The Information has been prepared by the Company for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the Information or its accuracy, fairness or completeness. The Information and opinions contained therein are provided as at the date of the presentation and are subject to change without notice. The Information contains references to certain non-IFRS financial measures and operating measures. These supplemental measures, as defined by the Company, should not be viewed in isolation or as alternatives to measures of the financial condition, results of operations or cash flows of the Company as presented in accordance with IFRS in its consolidated financial statements. The non-IFRS financial and operating measures used may differ from, and not be comparable to, similarly titled measures used by other companies. Even though the non-IFRS financial measures are used by management to assess the Company’s financial position, financial results and liquidity, and these types of measures are commonly used by investors, they have important limitations as analytical tools, and you should not consider them in isolation or as substitutes for the analysis of the Company’s financial position or results of operations as reported under IFRS. Financial objectives are internal objectives of the Company to measure its operational performance and should not be read as indicating that the Company is targeting such metrics for any particular fiscal year. The Company’s ability to achieve these financial objectives is inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company’s control, and upon assumptions with respect to future business decisions that are subject to change. As a result, the Company’s actual results may vary from these financial objectives and those variations may be material. The Information may include forward-looking statements, which are based on current expectations and projections about future events. These statements may include, without limitation, any statements preceded by, followed by or including words such as “target”, “believe”, “expect”, “aim”, “intend”, “may”, “anticipate”, “estimate”, “plan”, “project”, “will”, “can have”, “likely”, “should”, “would”, “could” and other words and terms of similar meaning or the negative thereof. All statements other than statements of historical facts included in this presentation, including, without limitation, those regarding the Company’s financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to the Company’s projects and services) may be forward-looking statements. These forward-looking statements are subject to risks, uncertainties and assumptions about the Company and its subsidiaries and investments, including, among other things, the development of its business, trends in its operating industry, and future capital expenditures. In light of these risks, uncertainties and assumptions, the events in the forward-looking statements may not occur. No representation or warranty is made that any forward-looking statement will come to pass. No one undertakes to publicly update or revise any such forward-looking statement. The Information and the opinions contained therein are provided as at the date of the presentation and are subject to change without notice. The Information does not purport to be comprehensive. To the fullest extent permitted by law, the Company, nor any of its subsidiary undertakings or affiliates, directors, officers, employees, advisers or agents accepts any responsibility or liability whatsoever for (whether in contract, tort or otherwise) or makes any representation, warranty or undertaking, express or implied, as to the truthfulness, fairness, accuracy or completeness of the Information. To the extent available, the industry, market and competitive position data contained in the Information come from official or third party sources. Third party industry publications, studies and surveys generally state that the data contained therein have been obtained from sources believed to be reliable, but that there is no guarantee of the accuracy or completeness of such data. While the Company reasonably believes that each of these publications, studies and surveys has been prepared by a reputable party, neither the Company, nor any of its the respective subsidiary undertakings or affiliates, or their respective directors, officers, employees, advisers or agents have independently verified the data contained therein. In addition, certain of the industry, market and competitive position data contained in the Information come from the Company’s own internal research and estimates based on the knowledge and experience of the Company’s management in the markets in which the Company operates. While the Company reasonably believes that such research and estimates are reasonable and reliable, they, and their underlying methodology and assumptions, have not been verified by any independent source for accuracy or completeness and are subject to change. Accordingly, undue reliance should not be placed on any of the industry, market or competitive position data contained in the Information. The Information has been prepared by the Company solely for information purposes only. This document does not constitute an offer of securities to the public in the Netherlands or in any other jurisdiction. Persons into whose possession this document comes should observe all relevant restrictions. 2
Page 3
01 Q3 2025 highlights 02 Market update 03 Network update 04 Pipeline update Content & speakers Michiel Langezaal CEO & Co-founder 3 05 Station performance 06 Guidance
Page 4
Q3 2025 Highlights ● Revenues related to charging up 44% Y oY to EUR 31.5m ● Energy delivered was up 32% Y oY to 46.8GWh, compared to an increase in EV stock of 28%1 ● Gross profit for the quarter was EUR 25.4m (€0.54/kWh) up 40% Y oY ● The number of operational stations increased to 380 while securing a total of 20 additional high traffic location to our pipeline ● Total number of secured locations reached 6242, on track for our goal of 1,000 stations by 2030 ● First stations opened in Spain - operational stations now in nine countries ● In the market with our third and final bond round for 2025 closing on October 30th. ● Cash position at the end of Q3 amounted to EUR 87.0m Renewable energy delivered 46.8 GWh (+32 % YoY) Revenues related to charging EUR 31.5m (+44% YoY) Sessions handled 1.7m (+27% YoY) CO2e avoided 42.4 kt (24% YoY) Note: All Q3 figures are unaudited and may be subject to change. 1) Source: ACEA, only includes July & August Data. Fastned average is a rolling, station-weighted average across all of Fastned’s operating markets. 2) Two contracts were discontinued during Q3 2025. 4
Page 5
BEV sales continue to improve, with more planned to be done by policy makers to accelerate the growth path BEV share of sales %1 Notes: 1) ACEA data – only July & August data is available so this is compared to the equivalent period in 2024. 2035 ICE phase-out “On Friday, I joined European Commission President Ursula von der Leyen and the CEOs of car makers to discuss the future of Europe’s automotive industry. As the President of ChargeUp Europe” “President Von der Leyen has categorically stated that the future of the automotive industry is electric. She has promised new initiatives to ensure that Europe is producing more affordable EVs and initiatives to drive demand creation for electric cars” 82.4k96.2k 276.6k 30.5k 339.7k 184.9k New BEV registrations YTD 5
Page 6
Fastned is working with policy makers to shape the industry and improve outcomes for EV drivers European commissioner for Climate, Net Zero & Clean Growth, Wopke Hoekstra, visits Fastned’s flagship Gentbrugge Zuid station in July 2025 ChargeUp Europe President and CEO of Fastned, Michiel Langezaal present at Europe’s automotive dialogue sessions together with other industry CEOs and Commission President von der Leyen 6
Page 7
7 Gentbrugge Zuid – collaborating with authorities to deliver a fully electric and user-centric service area 2021 20252023 2023−2025 July 2025: Gentbrugge Zuid opens Weeks since opening MWh delivered Station openingLocation redevelopment plans by authorities Fastned successfully win Gentbrugge tender Design, plan and construct shop & station in house Station opening Timeline of development 2022 Tender launch
Page 8
● [xxx] Note: 8 Las Garraf - opening first 2 stations in Spain From left; Jordi Hereu - Minister of Industry and Tourism of Spain, Michiel Langezaal - Fastned CEO, Inma Cima - Fastned Country Director Spain 8
Page 9
Note: 9 First London JV Site with Places for London - Construction begins at Hatton Cross Neufelder Heide Sud - first Deutschlandnetz Highway station operational 9
Page 10
9 countries 380 stations 2,421 chargers Fastned has expanded to be a pan European network 10
Page 11
Ensuring an unmatched customer experience in peak demand over the holiday period 11 Monthly sessions
Page 12
● [xxx] Note: 12 Hatton Cross Station Construction update First JV Site with Places for London - construction begins at Hatton Cross 12
Page 13
Station rollout accelerating as we enter last quarter of the year 13 34 New stations opened 13 Stations expanded Q1−Q3 2025 30 Under construction Current 346 Stations operational 2024 year end
Page 14
Sites secured on private and public land1 Network expansion capabilities continue to deliver, with strong site acquisition pace year to date. 14 Only includes signed London JV sites, not entire identified site pipeline
Page 15
Fastned has show considerable growth on a per station basis, almost 3× sessions per station in the last 3 years Sessions per station per day 3.76× Fastned multiple of market average 3.55× 4.04× 3.90× 3.29× 15
Page 16
Stations continue to outperform Note: 1) Average across Fastned countries, weighted by the number of stations in each country, 2) Annualised revenue related to charging for the period, 3) based on €18.9k per charger for 2024, 4) based on €22.2k per charger for H125 Time-based utilisation calculated as = (average session duration (hrs) * average sessions per day) / (number of chargers * 24 hours) €k Average station Q3 2024 Average station Q3 2025 Average daily traffic ~30k ~30k BEV fleet penetration ~4.7% 1 ~5.7% 1 Average # of chargers 6.0 6.4 Sessions per day 45 49 Average MWh (Annualised) 437 MWh 495 MWh Annualised revenue / station 2712 3332 Gross margin 224 (€0.51/kWh) 269 (€0.54/kWh) Operating costs per station 1133 1424 Operational EBITDA (B) 111 (41%) 127 (38%) Initial investment (A) 710 802 ROIC (= B / A) 16% 16% Time-based utilisation rate5 12.1% 12.2% ROIC at 30% utilisation, current charge speed >40% >40% A unique combination of results Station sales continued to grow with energy delivered per average station increasing by 13% Y oY We grew in line with the market as BEV penetration grew by 22% and organic sales growth (excl. new stations) was 21% Gross margin per kWh remained at a good level in line with last quarter and operational EBITDA margin within guidance Our station economics outperform the market as a result of high traffic locations and best in class concept & customer experience 1616
Page 17
Guidance & outlook • Revenue / station >€325k in 2025 and >€1m in 2030 • Operational EBITDA margin 35% - 40% by 20251 • 400 to 425 stations operational by year end 2025 • Target of 1,000 stations before 2030 Network Financial 171) Before (positive) EBITDA impact from the German highway tender
Page 18
Appendix 18
Page 19
Halfway to 1,000 stations: 500+ sites secured Stations in operation380 Total secured locations624 Historical station pipeline 19
Page 20
Pioneering the way with 2,421 chargers across our scalable network 300−400kW 904 206 26 1,136 241 24 - 265 308 4 4 316 401 - - 401 174 13 20 207 48 - - 48 24 - - 24 8 - - 8 16 - - 16 Total 88% 10% 2% 100% 150−200kW 50kW Total 20
Page 21
Key operating data – Netherlands and Germany 2018 2019 2020 2021 2022 2023 2024 Q1 2025 Q2 2025 Q3 2025 Period end BEV penetration 0.5% 1.2% 2.0% 2.8% 3.7% 4.9% 6.0% 6.3% 6.5% 6.7% Sessions per station per day (ave for the period) (A) 8.6 15.2 15.9 22.5 36.4 50.3 57.3 66.5 57.3 59.9 Average charge speed (kW) (B) 35 39 43 48 56 61 63 62 70 72 Charge time (min) (C) 22 24 24 23 23 22 22 23 21 20 kWh per session (A x B / 60 min = D) 13 15 17 19 21 23 23 23 24 24 kWh per station per day (A x D) 112 235 272 419 762 1,136 1,329 1,557 1,380 1,460 Number of stations period end 77 98 105 132 151 168 181 181 181 183 Period end BEV penetration 0.2% 0.3% 0.6% 1.3% 2.1% 2.9% 3.3% 3.4% 3.6% 3.8% Sessions per station per day (ave for the period) (A) 2.3 4.1 4.5 8.9 16.1 23.5 27.3 28.7 24.1 29.1 Average charge speed (kW) (B) 28 5`1 57 54 59 64 70 71 76 79 Charge time (min) (C) 26 30 29 30 31 31 30 30 28 28 kWh per session (A x B / 60 min = D) 16 25 28 27 31 33 35 36 36 36 kWh per station per day (A x D) 37 103 125 242 493 783 945 1,039 868 1,059 Number of stations period end 8 15 18 31 37 39 42 42 42 45 The NetherlandsGermany 21
Page 22
Key operating data – Belgium and United Kingdom 2018 2019 2020 2021 2022 2023 2024 Q1 2025 Q2 2025 Q3 2025 Period end BEV penetration 0.5% 0.9% 1.5% 3.0% 4.9% 5.5% 6.1% 6.6% Sessions per station per day (ave for the period) (A) 1.4 8.0 25.0 42.1 49.6 57.4 46.2 51.5 Average charge speed (kW) (B) 60 61 68 71 72 68 77 79 Charge time (min) (C) 25 24 24 24 24 26 23 22 kWh per session (A x B / 60 min = D) 25 25 27 29 29 29 29 29 kWh per station per day (A x D) 36 197 681 1,219 1,442 1,655 1,350 1,515 Number of stations period end 1 9 18 24 36 37 42 47 Period end BEV penetration 0.6% 1.2% 1.9% 2.9% 4.0% 4.2% 4.3% 4.5% Sessions per station per day (ave for the period) (A) 2.9 6.0 19.0 26.3 30.7 30.4 25.6 27.6 Average charge speed (kW) (B) 30 34 42 47 47 49 56 58 Charge time (min) (C) 38 42 40 39 40 40 35 34 kWh per session (A x B / 60 min = D) 19 24 28 30 31 32 33 33 kWh per station per day (A x D) 54 142 526 798 964 988 844 913 Number of stations period end 6 8 11 20 30 32 35 35 BelgiumUnited Kingdom 22
Page 23
Key operating data – France and Fastned Total 2018 2019 2020 2021 2022 2023 2024 Q1 2025 Q2 2025 Q3 2025 Period end BEV penetration 1.0% 1.6% 2.6% 3.3% 3.5% 3.6% 3.9% Sessions per station per day (ave for the period) (A) 0.7 7.5 17.7 28.5 27.8 35.7 49.5 Average charge speed (kW) (B) 54 59 64 65 65 71 73 Charge time (min) (C) 30 29 29 29 29 28 28 kWh per session (A x B / 60 min = D) 27 29 30 31 31 33 34 kWh per station per day (A x D) 19 218 538 897 875 1,170 1,691 Number of stations period end 6 23 38 44 46 48 53 Period end BEV penetration 1.3% 2.1% 2.9% 4.0% 5.0% 5.3% 5.5% 5.7% Sessions per station per day (ave for the period) (A) 12.5 15.5 26.0 39.9 45.8 50.9 44.6 49.0 Average charge speed (kW) (B) 43 49 56 61 64 63 71 73 Charge time (min) (C) 24 24 24 24 24 25 23 23 kWh per session (A x B / 60 min = D) 18 19 22 25 26 31 32 33 kWh per station per day (A x D) 220 301 583 986 1,186 1,337 1,207 1,368 Number of stations period end 131 188 244 297 346 353 363 380 FranceTotal 23
Page 24
24