Genneia (GENN) investor relations material

Executive summary

• Net sales reached US$111 million in 2Q26, up 16.5% year-over-year, driven by new solar farms coming online in the Cuyo Region.

• EBITDA increased 17.4% year-over-year to $83 million, reflecting solar expansion.

• Major investments were made in new solar and storage projects, with several projects reaching commercial operation in 2026.

• The company expanded its asset base, including a pending acquisition of a 13.2% indirect stake in Transener, Argentina's main high-voltage transmission company.

• Secured 421 MW of BESS projects, strengthening leadership in Argentina's energy storage market.

Financial highlights

• Net leverage remained stable at 2.8x as of June 30, 2026.

• Adjusted EBITDA (LTM) was US$299 million, with gross debt at US$1,091 million and net debt at US$851 million.

• Capex for the quarter totaled US$59 million, with solar farm expansion projects fully funded.

• Cash and short-term investments decreased to $100.7 million from $326.5 million at year-end 2025.

• Net profit margin declined to 13.9% from 28.2% year-over-year due to higher finance expenses and income tax.

Outlook and guidance

• Long-term and stable free cash flow generation is supported by 90% of revenue from PPAs, 99% in US dollars, and an average remaining PPA life of 13 years.

• Eight BESS projects totaling 461 MW under construction, with operations expected in the second half of 2027.

• The company expects to finance future investments through new debt and internally generated cash flow.