Slides
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1H2026 FINANCIAL REPORT
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ELIANA BOLLINO FRANCESCA BARONTINI Chief Executive Officer Investor Relator Officer ENRICO D’ANGELO Chairman
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NEXUS INDUSTRIAL LAB THREE STRATEGIC PILLARS
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PRODUCTS PORTFOLIO
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RELIABILITY Our reliability is built on robust solutions, proven technologies, and rigorously tested processes, ensuring consistent performance, operational safety, and long-term dependability. TECHNOLOGY LEADER Proven AWE and PEM technologies, delivering reliable performance and enabling next-generation solutions with competitive cost and scalable deployment. Scalable by design, our solutions enable flexible deployment and seamless expansion across a wide range of applications and markets. Tailored system solutions engineered to meet the specific needs of each end - market application TAILOR MADE
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ELECTORLYTIC STACKS METAL SHELL SOFTWAREPROCESS COMPONENTS ELECTRIC SYSTEM 1 2 34 5 VERTICALLY INTEGRATE BUSINESS All design and manufacturing know -how is in -house . ErreDue's production department is able to produce gas generators of different sizes and related accessories in a short time .
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INDUSTRIAL e LAB APPLICATIONS
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ENERGY TRANSITION APPLICATION
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FINANCIAL HIGHLIGHTS
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1H2026 BY PRODUCT BY BUSINESS AREA Energy transition €8.08M 75.9% Industrial €1.17M 10.9% Laboratory €1.46M 13.6% 14,9% 75,4% Hydrogen and other products €10.7M 75.4% Assistance and spare parts €2.1M 14.8% Generator activities €1.4M 9.8% 83,9% 15,8% 9,8% 0.3% 83.9% 15.8% 75.4% 14.9% 9.8% SALES REVENUES BREAKDOWN
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RECURRING REVENUES 1H2026 €3.50M €3.16M €1.0M 1H Comparison (EM) & Growth Analysis Service & Spare Parts Long Term Rental 2026 1H Total2025 1H Total +10.8% YoY €3.16M 2025 1H 2026 1H €3.50M €4.0M €3.0M €2.0M €0.0M • The rental of the plant breaks down the wall of diffidence regarding new technology and its introduction in a production line • Rental contracts often have an average term of 65 months and are indexed to inflation • At the end of the contract, the generators still have a value (even if fully depreciated); they can be bought back or rented again by the same customer or sold to a third party with a capital gain. • Highly specialised Technical Department takes care of clients along all the journey, from plant design to installation, and keeps following it in the after marke. • Generators can only and exclusively be maintained by ErreDue technicians, using only and exclusively components developed in-house. • Erredue, in addition to revenues linked to sales, guarantees recurring revenues linked to maintenance contracts, both ordinary and extraordinary. AFTER MARKET LONG TERM RENTAL
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0 3. Trade Working Capital (M) 4. Cash & Cash Equivalents vs Financial Debt (M) 14.6 4,1 14,9 19.8 3,8 24.9 6,3 19.0 -2.7 27.0 -9.7 23.8 -9.2 22.7 -11.9 4.7 2,04 7.33 4.37 3.8 5.6 -2.6 -1.9 4.8 7.2 -3.7 -3.9 6.89 9.6 -5.6 -5.7 5.66 14.1 -6.9 -6.9 FINANCIAL KPI 6.3 3.83.04.1 14.9 0.08 2.4 0.04 0.0 1.Capex (M) 3. Roic(M) 7.3 5.2 4.4 5.8 28% 20% 19% 25% 16.3 17.3 14.6 10.8
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FOREIGN EXPANSION STRATEGIC GROWING NEW PRODUCTION SITE 60 plants per year 4 production lines 17.000sqm new area increasing to 27.000 sqm total area • It's scouting opportunity in Europe and discussing partnership agreement with company in Spain, Portugal and France
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STRATEGIC MARKET INITIATIVE: GLOBAL EXPANSION Leveragingincreasedproductioncapabilityto capture internationaldemand and consolidatemarketleadership. EXTRA-EU SALES ACCELERATION +104.9% YoY growth in Extra-EU revenues in 1H2026 (C2.12M),primarily driven by the international expansion of the Laboratory division. TARGETED MARKET PENETRATION Dedicated sales strategies to penetrate high-margin industrial hubs and scale energy transition solutions globally. END-TO-END VALUE PROPOSITION From standalone hardware to integrated turkey systems: generation + purification + compression + storage, maximizing customer lock-in and gross margins. GLOBAL ALLIANCES & DISTRIBUTION Active partnership agreements and commercial scouting across Western Europe (Spain, Portugal, France) and Extra-EU markets.
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MARKET OVERVIEW: ENERGY TRANSITION & HYDROGEN ECOSYSTEM Hydrogen as the core vector for industrial decarbonization and renewable energy integration. RENEWABLE ENERGY WATER ELECTROLYSIS (PEM & ALKALINE) COMPRESSION HEAVY INDUSTRY Decarbonization of steelmaking, chemical processing, glass, and metallurgy. MOBILITY & TRANSPORT Powering heavy-duty fuel-cell electric vehicles and logistics through integrated hydrogen refueling stations. ENERGY STORAGE & GRID SERVICES Power-to-Gas applications enabling long-term renewable energy storage. STORAGE 16
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H2 POLICY APPROACHES: EUROPEAN MANDATES & IPCEI Financial frameworks and binding targets driving demand for European-made electrolyzers. NATIONAL & EUROPEAN TARGETS PNRR and M.A.S.E. funding delivered in 1H2026; 5 MW-scale units were delivered in 1H2026 in line 2026 deadlines. 5 MW IPCEI & HYDROGEN BANK Billions unlocked through EU IPCEI frameworks, including Hy2Tech and Hy2Use, requiring immediate, bankable electrolysis technology. STRATEGIC PROJECTS IN EXECUTION ErreDue equipment selected for flagship regional projects, including 2 MWintegrated PEM electrolysis systems for renewable hydrogen hubs in Sicily, producing 324+ tons H₂ per year. 2 MW
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GLOBAL HYDROGEN POLICY COMPARISON IEA-style comparison of policy targets, funding mechanisms, and ErreDue positioning. REGION / MARKET 2030 TARGET OR DIRECTION POLICY / SUBSIDY MECHANISM IMPLICATION FOR ERREDUE EU 2030 decarbonization and hydrogen targets EU policy framework and funding instruments supporting hydrogen deployment Aligned with EU priorities; enables access to EU funding and partnerships National hydrogen development direction PNRR and M.A.S.E. support with €6B CfD context Strong domestic platform; benefits from national support and industrial positioning Hydrogen import and market ramp-up H2Global mechanism to support imported hydrogen Opportunities for export projects and long-term offtake Hydrogen scale-up and infrastructure CfD schemes to de-risk hydrogen production and demand Entry point for regional projects and commercial partnerships EXTRA-EU MARKETS International hydrogen demand growth Commercial agreements and bilateral / multilateral frameworks Active scouting for commercial partners and export opportunities EUROPEAN UNION NETHERLANDS GERMANY ITALY
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H2 POLICY APPROACHES: FINANCIAL INCENTIVES & GEO-STRATEGY CONTRACTS FOR DIFFERENCE (CFD) EFFICIENCY-DRIVEN SCHEMES GEOPOLITICAL INDEPENDENCE
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SATURN NITROGEN GENERATORS (ULTRA-PURE N₂) MEGAWATT GREEN HYDROGEN ELECTROLYSERS (PEM & ALKALINE) ERREDUE COMPETITIVE ADVANTAGE & TECHNOLOGY LEADERSHIP Proprietary hybrid technology delivering unbeatable energy efficiency and gas purity. PROPRIETARY HYBRID TECH Combines PSA with hydrogen purification, reducing oxygen residual to <5 ppm and reaching purity up to 99.9999%. ENERGY EFFICIENCY =0.50 kW/m³ versus =1.20 kW/m³ for traditional market competitors; air-to-nitrogen ratio down to 2.7:1. COST REDUCTION Nearly one-third lower nitrogen production costs for laser cutting and industrial processes. PROVEN TRACK RECORD 5 MW PEM units delivered in 1H2026, with 5 additional MW-scale PEM and Alkaline units scheduled for 2H2026 delivery. GRID-FLEXIBILITY Optimized for direct coupling with intermittent renewable energy sources such as solar and wind.
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MARKET OVERVIEW: LABORATORY DIVISION Fast-growing market segment with global expansion potential. MARKET DYNAMICS Global Laboratory Instruments Market projected to reach USD 69.12 Billion ERREDUE PERFORMANCE (1H2026) Revenue half of 2026 versus the previous semester, confirming the effectiveness of the new strategic positioning. STRATEGIC INITIATIVES Partnerships with specialized commercial consultants, division rebranding, and benchmark analysis to position ErreDueamong international key players in laboratory gases, including Gas Chromatography, LC/MS, and HPLC. by 2033 (5.3% CAGR 2026-2033).
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THANKS FOR ATTENTION