Agripower France (ALAGP) Trading update summary

Strategic transformation and business focus

• Completed a strategic shift to focus on large-scale biomethane injection projects, both for third parties and in-house production, finalizing the transition within one year.

• Ceased commercial development of individual farm-scale units, while continuing to deliver on the existing order book.

• Successfully relaunched the Méthélec site, converting it to biomethane injection and securing France's first CPB contract, with annual revenues expected to exceed €5M and EBITDA around 35%.

Project pipeline and operational highlights

• Signed a €4.6M contract for a new biomethane injection unit in Eastern France, with a minority stake and expected annual revenues over €2M and EBITDA near 40%.

• Achieved €5.1M in new orders for large-scale methanisation units in 2024-2025, offsetting the cancellation of €3.8M in non-strategic farm projects.

• Pipeline includes €20M in contracts under negotiation across five projects, with decisions expected in the next nine months.

Financial position and capital increase

• Gross cash position at €1.5M as of June 30, 2024, after significant investments in new projects.

• Plans to launch a capital increase of up to €8M in September 2025, with preferential subscription rights for shareholders; management will participate, showing confidence in future prospects.

• Without the capital increase, cash runway extends to November 2025.