Slides
Page 1
Acquisition of 42MW Solar Generation Assets 6 OCTOBER 2026
Page 2
2WWW.LGI.COM.AU 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. Specifically, this document is provided to you as a person who is either: • a holder of an Australian financial services licence or an authorised representative of such a licensee, and are also either a “professional investor” or “sophisticated investor” (as those terms are defined in sections 709(11) and 708(8) respectively of the Corporations Act 2001 (Cth) (Corporations Act)) and in each case who is also a “wholesale investor” (as defined in section 761A of the Corporations Act), to whom a prospectus is not required to be given under Chapter 6D of the Corporations Act; or • if you are outside Australia, you are a person to whom the provision of the information in this document is permitted by laws of the jurisdiction in which you are situated without the need for registration, lodgement or approval of a formal disclosure document or any other filing or formality in accordance with the laws of that foreign jurisdiction. If you are not such a person, you are not entitled to receive this document, and you must promptly return all materials received from the Company (including this document) without retaining any copies. By receiving this document you warrant that you are an investor within the scope of the above paragraphs and that you accept this document on the basis set out in this document. Confidentiality This document, its contents and any information provided or discussed in connection with it are strictly private and confidential and may not be reproduced, redistributed or passed on, directly or indirectly, to any other person or published, quoted or referred to, in whole or in part, for any purpose, without the prior written consent of the Company. Distribution of this document may be restricted or prohibited by law. Any failure to comply with such restrictions may constitute a violation of applicable securities law. Acceptance of delivery (whether electronically or otherwise) of any part of this document by you constitutes unconditional acceptance of the terms and conditions of this document. Not an offer document This document does not constitute and should not be considered as an offer to sell, or a solicitation of any offer to buy, or an invitation or recommendation to subscribe for or purchase, or to make any commitments for or in respect of, any securities or any other investment products in the Company in any jurisdiction. Neither this document nor anything contained in it forms the basis of any contract or commitment and no agreement to subscribe for securities will be entered into on the basis of this document. Securities of the Company have not been, and will not be, registered under the U.S. Securities Act or the securities laws of any state or other jurisdiction of the United States. Accordingly, any such securities may not be offered or sold, directly or indirectly, in the United States unless they have been registered under the U.S. Securities Act (which the Company has no obligation to do or procure) or are offered and sold pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and any other applicable state securities laws. This document is not a prospectus, disclosure document, product disclosure statement or other offering document under Australian law or under any other law. It does not contain all of the information necessary to make an investment decision or that would be required to be disclosed in a prospectus prepared in accordance with the Corporations Act. This document has not been and will not be filed with or approved by any regulatory authority in Australia, including Australian Securities and Investments Commission (ASIC), or any other jurisdiction. No reliance The information contained in this document is for informational purposes only and is not investment or financial product advice and is not intended to be relied upon as the basis for an investment decision, and is not, and should not be assumed to be, complete. It is provided for information purposes only. Any investment is subject to various risks, some of which may be outlined in this document. All such risks should be carefully considered by prospective investors before they make any investment decision. You are not entitled to rely on this document and neither the Company or any of its directors, officers, employees, partners, representatives, shareholders, members, related bodies corporate, agents or advisers (including, without limitation, none of the advisers nor their related bodies corporate (as defined in the Corporations Act), shareholders or affiliates, nor any of their respective officers, directors, employees, affiliates, partners, representatives, consultants, agents or advisers, (together the Advisers)) (each a Party) guarantees or makes any representations or warranties, express or implied, as to or takes responsibility for, the currency, accuracy, reliability, completeness or fairness of this document nor the information, opinions and conclusions contained in this document. To the maximum extent permitted by law, each Party expressly disclaims any and all liability (whether direct, indirect, consequential or contingent), including, without limitation, any liability arising out of fault or negligence on the part of any person, for any expenses, damages, costs or loss arising from the use of information contained in this document including redocuments or warranties or in relation to the accuracy or completeness of the information, statements, opinions or matters, express or implied, contained in, arising out of or derived from, or for omissions from, this document including, without limitation, any financial information, any estimates or projections and any other financial information derived therefrom. The Company has not carried out due diligence investigations in connection with the preparation of this document, nor has it verified any of the contents of this document. You must consider your own financial situation, objectives and needs and conduct your own independent investigations, assessments and enquiries, including obtaining investment, legal, tax, accounting and other such advice as you consider necessary or appropriate. This document should not be relied on by the recipient in considering the merits of any particular transaction. None of the Advisers have authorised, permitted or caused the issue or lodgement, submission, dispatch or provision of this document and there is no statement in this document which is based on any statement made by any of the Advisers. To the maximum extent permitted by law, each of the Advisers expressly disclaims all liabilities in respect of, and make no redocuments regarding, and take no responsibility for, any part of this document. None of the Company nor any of the Parties act, or are responsible, as a fiduciary to you, your directors, officers, employees, affiliates, partners, representatives, consultants, agents, advisers, securityholders, creditors or any other person. You and each of the Company and the other Parties expressly disclaim any fiduciary relationship. The Company and the other Parties are relying on you complying with this important notice and disclaimer and on the truth and accuracy of the representations, warranties, undertakings and acknowledgments given by you. Past performance information provided in this document may not be a reliable indication of future performance. Nothing contained in this document nor any information made available to you is or shall be relied upon as a promise, representation, warranty or guarantee as to the past, present, or future performance of the Company, or that any investment will or is likely to achieve profits or losses similar to those achieved in the past, or that significant losses will be avoided. Statements contained in this document that are not historical facts are based on current expectations, estimates, projections, opinions and beliefs of the Company. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. Forward looking statements This document contains certain forward looking statements and comments about future events. Forward looking statements can generally be identified by the use of forward looking words such as, “expect”, “anticipate”, “likely”, “intend”, “should”, “could”, “may”, “predict”, “plan”, “propose”, “will”, “believe”, “forecast”, “estimate”, “goals”, “aims”, “target” and other similar expressions within the meaning of securities laws of applicable jurisdictions. Indications of, and guidance or outlook on, future earnings or financial position or performance are also forward-looking statements. Forward-looking statements involve known and unknown risks, significant uncertainties, assumptions, contingencies, and other factors, many of which are outside the control of the Company, are subject to change without notice, and may involve significant elements of subjective judgement and assumptions as to future events which may or may not be correct, and which may cause the actual results or performance of the Company to be materially different from any results or performance expressed or implied by such forward-looking statements. As such, any forward looking statements are provided as a general guide only and should not be relied on as an indication or guarantee of future performance. No representation, warranty or undertaking is made that any projection, forecast, assumption or estimate contained in this document should or will be achieved. The Company disclaims any obligation or undertaking to disseminate any updates or revisions to any forward looking statements in this document to reflect any change in expectations in relation to any forward looking statements or any change in events, conditions or circumstances on which any such statement is based. Certain economic and market information contained in this document has been obtained from published sources prepared by third parties and has not been verified by the Company and in certain cases has not been updated through to the date of this document. Miscellaneous No person, especially those who do not have professional experience in matters relating to investments, must rely on the contents of this document. If you are in any doubt as to the matters contained in this document you should seek independent advice and/or consult your stockbroker, bank manager, solicitor, accountant or other financial adviser. It should be remembered that the price of securities and the income from them can go down as well as up. A number of figures, amounts, percentages, estimates, calculations of value and fractions in this document are subject to the effect of rounding. Accordingly, the actual calculation of these figures may differ from the figures set out in this document. This document may contain trademarks and trade names of third parties, which are the property of their respective owners. Third party trademarks and trade names used in this presentation belong to the relevant owners and use is not intended to represent sponsorship, approval or association by or with the Company. Distribution The distribution of this document in jurisdictions outside Australia may be restricted by law.. Persons who come into possession of this document who are not in Australia, should seek advice on and observe any such restrictions before reading it. Any failure to comply with such restrictions may constitute a violation of applicable securities laws. By receiving this document you are deemed to confirm, represent and warrant to the Parties that you agree to be bound by the limitations and conditions set out in this disclaimer. Acknowledgments In accessing, receiving or reviewing this document, you acknowledge and agree to the foregoing terms and conditions. Any failure to comply with such terms and conditions may constitute a violation of applicable securities laws.
Page 3
3WWW.LGI.COM.AU Medium-term strategic pipeline upgraded to over 120MW (80MW high conviction pipeline + 42MW solar) Acquisition of 42MW Solar Generation Assets DetailElement Acquire 100% of Maryrorough Solar Pty Ltd (Brigalow) and 100% of Chinchilla Solar Pty Ltd (Chinchilla) from IIG Solar Assets Pty Ltd ATF The IIG Solar Asset TrustTransaction Purchase Price $22.0 million with no associated debt Assets Acquired 42MW of solar generation assets, located on leased land: Brigalow with 27.3MW and Chinchilla with 14.7MW Completion & Timing 9 October 2026; no shareholder approval required; no remaining outstanding material conditions Funding Using cash at bank and undrawn funds from existing debt facility Earnings Contribution Based on current electricity prices and timing of revenue synergy realisations andDynamic Asset Control System (DACS) implementation, contributes estimated annual EBITDA of $2.1 - $4.0m Strategic Objective Develop and operate a diverse renewable energy platform at scale
Page 4
4WWW.LGI.COM.AU Strategic Rationale Advances LGI’s strategic objectives: • Develop and operate a diverse renewable energy platform at scale • Underpinned by low cost sources of generation by adding solar to landfill biogas generation fleet • Dispatchable by DACS to optimise returns across energy and carbon markets • Potential to enhance with battery energy storage system (BESS) • Consistent with LGI’s strategy since pre-listing. Strategic Fit Compliments LGI's existing medium-term pipeline: • 80MW full-funded high conviction project pipeline, • Expands medium-term pipeline beyond 120MW of distributed, renewable, dispatchable capacity • Scale opens up new end markets for energy trading with a broader set of offtake partners • LGI sees positive tailwinds for electricity markets in the medium to long term as demand grows, while supply dynamics continue to evolve in the National Electricity Market (NEM). Scale & Markets Optionality Develop and operate a diverse renewable energy platform at scale Greater installed capacity of generation than export: • 54 MWp installed / 42 MWac export capable, • Reduces the risk of operating below maximum export levels if any solar panels are offline. • Provides a strong case to explore BESS hybridisation, particularly if intra-day volatility in the electricity market builds as anticipated.
Page 5
5WWW.LGI.COM.AU Vertically integrated operations, LGI’s solutions create diversified revenue by converting landfill biogas and solar into flexible and dispatchable renewable electricity integrated with storage 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 Renewable energy and carbon abatement company operating a portfolio of distributed assets 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 Biogas fuelled power generation systems, utility scale solar, utility scale batteries, dispatched by LGI’s DACS to optimise returns LGI revenue derived from the sale of electricity, LGCs², FCAS3 & ACCUs¹ GREENHOUSE GAS ABATEMENT DIVERSIFED RENEWABLE ELECTRICITY 1. Australian Carbon Credit Units (ACCU) 2. Large-scale Generation Certificates (LGC) 3. Frequency Control Ancillary Services (FCAS) Who is LGI? SOLAR PV
Page 6
6WWW.LGI.COM.AU Earnings Contribution Expanding LGI’s portfolio of distributed, renewable generation assets • 19.9 MW installed, 14.7MW export • 2019 commercial commencement • 31 year lease remaining • Operating on a 100% spot exposed basis • 2025 annual generation of 20,981 MWh Chinchilla Solar Farm Brigalow Solar Farm Contributes estimated annual EBITDA of $2.1 - $4.0 million at current electricity prices, dependent on timeliness of revenue synergy realisations and implementation of DACS* • 34.5 MW installed, 27.3 MW export • 2021 commercial commencement • 33 year lease remaining • Operating on a 100% spot exposed basis • 2025 annual generation of 33,229 MWh Located in Baking Board, QLD 10 km north-west of Chinchilla Located in Yarranlea, QLD 42 km south-west of Toowoomba *FY27 EBITDA ~$1.6 million (assuming 9 months contribution)
Page 7
7WWW.LGI.COM.AU Why Solar? Expanding and diversifying LGI’s portfolio of distributed, renewable generation assets to over 120MW with targeted pipeline delivery • Prior to listing on the ASX, LGI developed solar projects and has since conducted a disciplined search for strategically-aligned renewable assets as part of its planned energy portfolio build out. • Efforts to assess solar portfolio opportunities have increased over the past year with LGI undertaking due diligence on multiple assets as solar asset valuations softened in line with energy prices, creating this buying opportunity. • Greater generation volume and asset diversity, combining landfill biogas plus solar, and batteries. Improving LGI’s scale and opening new end markets. Renewable Energy Platform • The Chinchilla and Brigalow solar farms are located nearby LGI’s existing assets in Toowoomba and Warwick so bringing operations and maintenance of the solar farms in- house wont require incremental resources. • Applying DACS across both assets will optimise energy dispatch and price outcomes. • As installed solar capacity exceeds network export constraints, the additional headroom could potentially enable efficient charging of BESS at either or both sites. Scalability 26 42 57 125 Biogas Generation Solar Battery total Medium Term Energy Platform Pipeline (MW)
Page 8
8WWW.LGI.COM.AU Why Chinchilla and Brigalow? Efficiently expanding LGI’s portfolio of distributed, renewable generation assets Greater generation volume and asset diversity, combining landfill biogas plus solar, and batteries. Improving LGI’s scale and opening new end markets. Portfolio Advantage Installed solar capacity exceeds network export constraints. Assets can fully export even if a portion of panels are offline. Additional headroom could potentially enable efficient charging of BESS at either or both sites. Optionality Once maintenance and operations are fully integrated into LGI, synergies are achievable. Deploying DACS across the assets should optimise price outcomes. Synergies and DACS Priced below greenfield development cost for like assets. Over 30 years remaining on leases for both solar farms. The quality of the build and engineering of the solar farms was a stand out. Asset Value The Company will maintain discipline with capital management, targeting net debt to EBITDA below 2x through the portfolio build out to over 120MW. Capital Management Using cash at bank and existing CBA facility to fund purchase price of $22m. Contributes estimated annual EBITDA of $2.1 - $4.0 million at current electricity prices, dependent on timeliness of synergies and DACS realisations. Funding and Earnings
Page 9
9WWW.LGI.COM.AU Electricity transition still has multi year run-way, with changes to supply and demand Electricity Market Dynamics Operational excellence - 5,000 10,000 15,000 20,000 25,000 2016 2018 2020 2022 2024 2026 2028 2030 2032 2034 2036 2038 2040 2042 2044 2046 2048 2050 Coal plant closures (GW) NSW QLD Vic - 100.00 200.00 300.00 400.00 2016 2018 2020 2022 2024 2026 2028 2030 2032 2034 2036 2038 2040 2042 2044 2046 2048 Consumption of electricity (GWhs) Grid electricity Other electricity Cost of new generation Coal continues to be the dominant source of generation, making up more than half of all generation Coal useful life is near end and scheduled to close At current electricity prices, new generation struggling to get large-scale generation to FID, note new generation 6-8 year lead time All the while, electricity consumption is increasing Source CSIRO 2026 Gen Cost Report https://www.csiro.au/en/research/technology-space/energy/Electricity-transition/GenCost Source Open Electricity https://openelectricity.org.au/ Source AEMO 2026 ISP Source AEMO 2026 ISP https://www.aemo.com.au/energy-systems/major-publications/integrated-system-plan-isp/2026-integrated-system-plan-isp Source data from AEMO 2026 ISP, chart from Varial Energy Time of day demand profile - annualised And time of day demand becomes more volatile 1 2 3 4 5 LGI navigates the energy transition: • Flexible and growing asset base, • Relatively lower cost and quicker to develop, • Apply proprietary DACS to optimise prices, • Distribution connected projects avoids transmission bottlenecks, • Demonstratable BESS success.
Page 10
10WWW.LGI.COM.AU Medium-term Target Update The company upgrades its medium-term strategic pipeline to over 120MW of distributed, renewable, dispatchable capacity (80MW high conviction pipeline + 42MW solar) • Australia's energy market is rapidly transitioning, • Utility-scale projects and necessary transmission upgrades face significant development delays that threaten the pace of replacement, • Deploying smaller-scale distributed renewables provides a faster, lower- impact alternative that leverages existing network capacity, • Combining 24/7 landfill biogas, fast- dispatch batteries, and low-cost solar allowing LGI to deliver reliable, affordable, and clean energy where the grid needs it most. 21 12 42 12 1 11 4 22 125 LGI's strategic pipeline beyond 120+ MW capacity
Page 11
11WWW.LGI.COM.AU ROD DUKE 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 Former CEO of Energy Queensland, Australia’s largest electricity business, and Santos’ US$18.5 billion Gladstone LNG project. A chemical engineer with over 40 years’ international energy experience, including senior roles at Woodside and Singapore LNG, Rod brings extensive expertise in electricity networks, major project delivery and commercial operations Founded LGI in 2009 and built its integrated landfill gas, renewable energy and carbon abatement business. Adam brings deep practical expertise in developing and operating landfill gas projects, with a track record of engineering innovation and commercialising biogas resources. Previously held operational and project leadership roles at LMS and Wanless. Energy industry legal and commercial specialist with over 30 years’ experience advising major companies and governments on transactions, energy policy and infrastructure projects. A former law firm partner and senior in-house counsel, Andrew has advised on some of Queensland’s largest power assets, bringing deep expertise in project commercialisation and regulation. Former LGI CEO and Chair, with over 25 years’ international experience in waste management, landfill gas and carbon abatement. Jessica holds a PhD in Environmental Chemistry and authored a waste and climate change strategy for the UN Environment Programme, bringing scientific, regulatory and commercial expertise to LGI’s environmental markets. Founder and Chairman of asset manager Laguna Bay. LGI’s cornerstone investor since 2011 and former Chair, Tim brings extensive experience in building businesses, investment management and capital allocation, with a strong focus on disciplined growth and long-term shareholder returns. TIMOTHY MCGAVIN Non-executive Director and Chair of Remuneration & Nominations Committee Board ASX company director and Chartered Accountant with over 35 years’ executive and board experience. Abigail built and led practices for Deloitte, EY, Korda Mentha and Kroll in restructuring, forensic accounting and risk management. Having served on 12 ASX boards, she brings financial, governance and commercial expertise to LGI.
Page 12
LGI LIMITED ASX:LGI 57 Harvey Street North Eagle Farm 4009 QLD 07 3711 2225 Investor.relations@lgi.com.au sam@nwrcommunications.com.au www.lgi.com.au ABN 49 138 085 551