Fastned (FAST) Investor Presentation summary

Investment highlights

• European leader in public DC fast charging, focusing on high-traffic locations for optimal station economics and capex efficiency.

• Well-positioned to benefit from accelerating BEV adoption and growing charging demand across Europe.

• Vertically integrated business model with in-house optimisation of key functions, delivering high reliability and customer satisfaction.

• Recognised as a top charging network by users, with high NPS and industry-leading uptime.

• ESG and sustainability are central, with 100% renewable energy and clear climate impact targets.

Market opportunity and growth

• BEV fleet in Fastned's markets projected to exceed 30 million by 2030, driving >€10bn fast charging market.

• Fastned operates nearly 20% of Dutch fast charging locations but delivers ~60% of volume, outperforming competitors at co-locations.

• High-traffic motorway service areas yield 3-4x more sessions per day than other locations, supporting superior economics.

• BEV sales penetration in key markets ranges from 13% to 32% as of Q3 2024.

• Battery prices continue to fall, supporting long-term BEV adoption.

Operational performance and expansion

• 326 stations operational and 523 locations secured as of Q3 2024, with a target of 1,000 stations by 2030.

• 1,943 chargers deployed, with a mix of 300-400kW, 150-175kW, and 50kW units.

• Daily sessions per station and annualised revenue per station have grown significantly, with ROIC rising from 7% (2019) to 18% (2024), and >40% at higher utilisation.

• Fastned's high-traffic strategy results in ~5x more sales per location than peers in mature markets.

• Expansion into new markets and service area tenders, including Belgium and future-ready for electric trucks.