H1 2026
Financial results
September 11st, 2026
alteagreenpower.com 2Speakers
Giovanni Di Pascale CEO
Giancarlo Signorini
CFO
alteagreenpower.com2.16.17.321.9
13
35%37%42%62%58%
0%10%20%30%40%50%60%70%
0510152025
2021 2022 2023 2024 2025
EBITDA EBITDA margin6.216.7 17.335.4
22.5
2021 2022 2023 2024 2025
52.20%
9.49%38.31%
Dxor Investments S.r.l.
Dxor Investments 1 S.r.l.
Free Float
Strategic partnerships intheUSand Italy with companies such asIberdrola, Enlight ,Aer Soléir ,RP Global, Renewable Power Capital .At a glance Leading player, listed onEuronext STAR Milan, inproject co-development, inthe BESS storage sector and in photovoltaics andwind energy, EPC and Energy efficiency and IPP (Independent Power Production) .
alteagreenpower.com*Dxor Investments and Dxor Investments 1are companies attributable toGiovanni DiPascale
Over
0.7 GWPHOTOVOLTAICS AND
WIND ENERGY
+15
Over
6 GWBESS (Battery Energy
Storage System)
ITALY and U.S.A.PIPELINECAGR +38%COMPANY
OVERVIEW KEY OPERATIONAL KPIKEY FINANCIAL
FIGURES
TOTAL REVENUES FY
EBITDA & Margin FY
3SHAREHOLDERS STRUCTURE
UPDATE & PIPELINE
alteagreenpower.com
5H1 2026 – Business update
BESS PROJECT INPIEMONTE AUTHORISED BYMASE
•BESS plant project with acapacity of60MW located in Piemonte, Vignole Borbera (AL) •Positive track record ofapproved BESS projects –now
exceeding 500MW
ACQUISITION OF FIRST PHOTOVOLTAIC PLANT IN
EMILIA -ROMAGNA
•Located in Montecchio Emilia (Reggio Emilia)14th Apr.
6th May
ACQUISITION OF HYBRID PROJECT, ALREADY
APPROVED, INPUGLIA
•12MW photovoltaic plant combined with an8MW BESS, located inAscoli Satriano, inPuglia, with anexpected annual output ofapproximately 22GWh .23rd
June
alteagreenpower.comThe plant has a capacity of 16.75 MW , operational since January 2024.
The plant also benefits from July 2025 of a FER 1 feed in tariff, with a duration of twenty years.Total purchase price of the transaction is approx. € 17 million :
•approx. € 16 million representing the value of the
photovoltaic plant
•approx. € 1 million for positive net working capital components
6PV PLANT DETAILS FINANCIAL TERMS
This acquisition represents a further step in the growth path of Altea Green Power , in line with the 2024 -2028 Business Plan, which envisages the progressive strengthening of the Company’s role as an Independent Power Producer (IPP).
The strategy of becoming an IPP promotes the generation of stable recurring cash flows and the creation of long -term value through the development of a portfolio of owned assets.
Acquisition of first photovoltaic plant
alteagreenpower.com
Expertise, professionalism, quality and a focus on local communities 7AGP In Italy and worldwide
ITALY
5.7 GW
under development
20 MW
installed (EPC)USA
1.4 GW
under development
of which 25%
AGP Share
alteagreenpower.com 77STORAGE PV AND WIND 5.0
GWBESSPHOTOVOLTAICS &
WIND ENERGY0.7
GWPIPELINE ITALY TOTAL PIPELINE
alteagreenpower.com
8Focus on pipeline in permitting phase
BESS
in permitting
phase
4.2 GW•Co-Development : 0.8 GW in permitting phase + 590 MW already authorized •Development : 3.4GW in permitting phase PV
in permitting
phase
452 MW•Co-Development : 359 MW in permitting phase + 24 MW already authorized •Development : 93 MW in permitting phase
WIND
in permitting
phase
179 MW•Co-Development : 48 MW in permitting phase •Development : 131 MW in permitting phase ( of which one is a hybrid plant with 40 MW of BESS)
alteagreenpower.com
BESS 117.9 + premium* 64.0
PV/WIND 32.6 6.2
EPC 1.6 0.6
Co-Development projects 152.2 + premium* 70.8 TYPECONTRACTS VALUE
(€/M)CASH FLOW
FORECAST
2026 - 2028 (€/M) 9Contracts value & Cash flow
* Premium equal to € 15 million maximum •Contracts value represents the total signed contracts •Cash Flow Forecast 2026 -2028 represents the value to be still invoiced and collected as of June 30 , 2026 for the period 2026 –2028yet to be collected
FINANCIALS
alteagreenpower.com 11H1 2026 Key highlights
SECOND QUARTER OF 2026 SEES A RECOVERY: ALL ECONOMIC INDICATORS ARE IMPROVING
COMPARED TO THE FIRST QUARTER OF 2026
START OF A NEW PHASE OF DEVELOPMENT TOWARDS THE ROLE OF INDEPENDENT POWER
PRODUCER (IPP)
The reduction inrevenue ismainly attributable totheCompany's strategy aimed atfavouring thedirect value oftheprojects already authorised compared totheir immediate marketing, bringing “Ready toBuild” initiatives tothemarket .However, inthe2Q2026 ,there was asignificant recovery compared with the€1.7 million recorded inQ12026 .
NetFinancial Debt :thechange isprimarily attributable totheacquisition ofthefirstproprietary photovoltaic plant located inMontecchio Emilia, aswellastochanges inworking capital linked tothesteady growth of projects managed bytheCo-development andDevelopment division .
alteagreenpower.com
Total
revenue
€ 5.5 M
vs € 13.7 M 12H1 2026 – Results highlights
•REVENUE
The decline isprimarily duetotheCompany’s strategic decision toprioritise thedirect development ofprojects thathave already been authorised over their immediate commercialisation ,bringing ‘Ready toBuild ’initiatives tomarket .
The temporary mismatch between asset development and their economic realisation does, infact, affect short -term results, but confirms theconsistency ofthestrategic path undertaken andthe creation ofvalue inthemedium tolong term.
•NFP:The path towards becoming anIndependent Power Producer (IPP) naturally entails anincrease innet financial debt, inline with the Group’s investment
strategy
stands at€22.3million (cash negative ),duetothepurchase of theproprietary photovoltaic plant located inMontecchio Emilia, as well astheworking capital trends associated with theongoing growth ofthecontracts .EBITDA
€ 1.8 M
vs € 8 .0 M
Net profit
€ 0.9 M
vs € 5.4 MNFP
debt € 22.3 M vs cash € 4.8 M
alteagreenpower.com 13EBITDA Bridge
alteagreenpower.com 14NFP Bridge
€/mln
alteagreenpower.com 15Outlook & Growth Strategy Independent Power Producer (IPP)
Scale -Up
Geographical Expansion
Value chain Integration
Strategic Partnerships
NEAR TERM GROWTH AVENUES
Disciplined and value -oriented strategy ina complex macroeconomic and regulatory environment, with afocus onlong -term value
creation
Ongoing expansion ofproject pipeline and execution ofindustrial investments expected to significantly strengthen the Group’s competitive
positioning
Progress inpermitting and increased industrial capacity supporting business model consolidation and enabling astable, sustainable growth path, confirming the Group’s 2028 targets and alignment withtheBusiness Plan
Altea Green Power S.p.A.
Sede operativa via Chivasso, 15/A - 10098 Rivoli (TO) - Italy Sede legale corso Re Umberto, 8 - 10121 Torino - Italy
www.alteagreenpower.com | info@alteagreenpower.com Investor Relations Advisor
CDR Communication
Marika Martinciglio : marika.martinciglio@cdr -communication.it Silvia Di Rosa: silvia.dirosa@cdr -communication.irImmagine che contiene simbolo Descrizione generata automaticamente Immagine che contiene cerchio, giallo, Elementi grafici Descrizione generata automaticamente Immagine che contiene simbolo, cerchio, giallo, Carattere Descrizione generata automaticamente
ANNEX
alteagreenpower.com 18H1 2026 Income Statement
€/000
H1 2026 H1 2025 %
Revenues 3,680 13,411 -73% Other revenues 1,812 258 602% Total Revenues 5,492 13,669 -60% Purchases, services and other operating costs (2,254) (4,268) -47% Personnel Expenses (1,433) (1,437) 0% Operating costs (3,687) (5,705) -35%
EBITDA 1,805 7,964 -77%
EBITDA margin 33% 58% Depreciation and amortization (257) (120) 114%
EBIT 1,548 7,844 -80%
Net financial income (632) (198) 219%
EBT 916 7,646 -88%
Taxes (24) (2,285) -99% Net Group income 892 5,360 -83%
alteagreenpower.com 19H1 2026 Balance Sheet
€/000
30-giu-26 31-dic-25
Non-current assets
Intangible assets 251 319 Tangible assets 22,490 589 Deferred tax assets 901 44 Other non-current assets 1,440 1,400 Total non-current assets 25,082 2,352
Current assets
Current assets 48,138 46,733 Other current assets 1,541 1,225 Cash and cash equivalents 10,102 25,424 Total current assets 59,781 73,382 Total Assets 84,863 75,735 Shareholders' Equity 43,928 43,059 Non-current liabilities 26,849 17,519 Current liabilities 14,086 15,156 Total Liabilities and Shareholders' Equity 84,863 75,735
alteagreenpower.com 20H1 2026 Net Financial Position
€/000
H1 2026 FY 2025
A. Cash (10,102) (25,424) B. Cash equivalents and cash - -
C. Other current financial assets (427) (192) D. Liquidity (A + B + C) (10,529) (25,616) E.Current financial debt (including debt instruments, but excluding the current portion of non-current financial debt)11 2,007 F. Current part of non-current debt 5,623 2,851 G. Current financial debt 5,634 4,858 H. Net current financial debt (G+D) (4,894) (20,758) I. Non-current financial debt (excluding current portion and debt instruments)17,229 5,975 J. Debt instruments 9,967 9,980 K. Trade and other non-current payables 6 1 L. Non-current financial debt (I+J+K) 27,202 15,956 M. Total financial debt (H+L) 22,309.00 (4,802)