Metlen Energy & Metals (MYTIL) AGM 2026 summary

Opening remarks and agenda

• Meeting conducted in English due to London Stock Exchange listing and UK regulations, with translation available for Greek speakers.

• Safety, security, and orderly conduct emphasized; meeting livestreamed for remote shareholders.

• Introduction of board members, executive directors, and auditors; notice of meeting confirmed as read.

• Voting conducted by poll, with resolutions outlined and proxy votes included.

Financial performance review

• 2025 saw strong revenue growth to EUR 7.1 billion, driven by core activities in energy and metals.

• Profitability impacted by execution challenges in energy projects and renewables asset rotations, prompting governance and process improvements.

• Q1 2026 showed strong momentum, with expectations for record turnover and EBITDA between EUR 1 billion and EUR 1.15 billion.

• Liquidity at end-2025 was close to EUR 4 billion, supported by a successful EUR 600 million Eurobond issuance.

• Net leverage ratio peaked at 3.1x but is targeted to return to 2x or lower as investments conclude and cash flows improve.

Board and executive committee updates

• Board independence ratio at 75%, with 40% female representation and 62% foreign nationals, reflecting international scope.

• Over 20 board meetings held since London listing, focusing on strategy, governance, risk, and performance.

• Rigorous board and CEO evaluation processes in place, with shareholder feedback integrated into governance.