Waga Energy (WAGA) Company presentation summary

Market opportunity and environmental impact

• Landfills are the main waste management solution globally, emitting methane, a greenhouse gas 80x more potent than CO2, responsible for 40% of global warming.

• Over 20,000 landfills worldwide, with waste volumes expected to rise 70% by 2050.

• Only 1% of landfill methane is currently upgraded to renewable natural gas (RNG), presenting a significant mitigation opportunity.

• WAGABOX® technology enables >90% methane capture and conversion to grid-compliant RNG, outperforming legacy solutions.

• Each WAGABOX® unit can avoid up to 750kt CO2eq emissions over 20 years, with additional carbon credit upside.

Technology and operational excellence

• Proprietary WAGABOX® technology adapts to all landfill sizes and gas compositions, using membrane filtration and cryogenic distillation.

• Achieves over 95% availability and >90% methane recovery, with standardized, modular units.

• 30 units operational and 16 under construction across France, Spain, US, and Canada.

• Demonstrated 95-98% uptime in 2023, with 24/7 maintenance and rapid intervention.

• Each unit is profitable from day one, with predictable long-term gas production.

Financial performance and growth

• H1 2024 revenue reached €26m (+87% YoY), with over 50% from international markets.

• H1 2024 EBITDA at -€2.5m, improving from -€3.1m in H1 2023.

• €220m raised in equity and debt in 2024 to fund expansion.

• 254 GWh of RNG injected in H1 2024 (+79% YoY), with a sales pipeline of 13.6 TWh p.a.

• Project EBITDA margins for WAGABOX® units in line with 30–50% target, with €106m signed recurring revenue (+33% YoY).