LION E-Mobility

Earnings Release • May 13, 2025

CORPORATE FINANCE FINANCIAL RESTRUCTURING Preliminary Group results Q1 2025

HL.com

FINANCIAL AND VALUATION ADVISORY May 2025

FINANCIAL HIGHLIGHTS Q1 2025

REVENUE EBITDA (EURm) (EURm) OPERATING CASH FLOW (EURm) • Q1 revenue was 6.5m EUR, so 5.3m higher than Q1 2024 due to recovering industries with more requests than in whole year 2024 • An improved material rate and operating costs increased our EBITDA to 1.5m EUR. • A positive operating cash flow of 1.2m EUR could be generated with improved cost and inventory management.

PROFIT AND LOSS Q1 2025

EURm

Income Statement	Q1 2025	Q1 2024
Revenues	6.5	1.2
Increase in contract assets portfolio	0.0	0.0
Other own work capitalised	0.6	0.0
Total Earnings	7.1	1.2
Other operating income	0.0	0.0
Cost of materials	-3.3	-1.2
Personnel expenses	-1.7	-1.4
Other operating expenses	-0.7	-1.3
EBITDA	1.5	-2.6
EBITDA margin %	23.1%	-212.8%
Depreciation and amortization	-0.4	-0.3
EBIT	1.1	-3.0
EBIT margin %	17.5%	-239.8%
Finance income	0.0	0.2
Finance expenses	-0.5	-0.6
Share of profits of associated subsidiaries	0.0	0.7
EBT	0.7	-3.5
Taxes	-0.1	0.9
Result	0.6	-2.6

• Q1 revenue of 6.5m EUR shows a very good start into 2025
• Our changed sourcing strategy resulted in an improved material rate of 50%
• Our strategic developments in new NMC+ packs are reflected in the slight increase of personnel expenses. Hence, our first NMC+ pack samples were shipped to customers last month.
• Other Operating Expenses could be almost halved by concentrating activities on the NMC+ development activities.

CASHFLOW Q1 2025

EURm

Cash Flow Statement	Q1 2025	Q1 2024
Cash and cash equivalents at beginning of period	-2.8	4.4
Cash flow from operating activities	1.2	-3.5
Cash flow from investing activities	-1.0	-0.2
Cash flow from financing activities	0.2	-0.0
Net change in cash and cash equivalents	0.4	-0.0
FX effect	-0.2	-0.0
Cash and cash equivalents at end of period	-2.6	0.6

• Cash flow from operating activities changed to positive due to an altered sourcing strategy and a very sensible inventory policy.
• Cash flow from investing activities shows our investing activities into our strategic new products.
• Cash flow from financing activities reflects the repayment of a bank loan funded by an additional shareholder loan in March.

BALANCE SHEET Q1 2025

EURm

Balance Sheet	Mar 31, 2025	Dec 31, 2024
Total Assets	34.3	31.6
A. Non-current assets	25.1	24.5
B. Current assets	9.2	7.1
Equity and liabilities	34.3	31.6
A. Equity	9.3	7.0
B. Non-current liabilities	4.8	5.1
C. Current liabilities	20.2	19.5

• Current assets increased by almost 2.2m EUR compared to YE 2024 due to mainly increased trade receivables and prepayments. Increase in non-current assets shows mainly the progress in the NMC+ development.
• Equity ratio increased to 27,2% mainly caused by the conversion of a shareholder loan and accumulated interest into share capital and capital reserves of almost 1.9m EUR which shows further commitment and support of the main shareholder in the group's further development.
• A regular repayment of a bank loan reduced the non-current liabilities by 0.7m EUR.
• Current Liabilities increased slightly by 0.7m EUR due to trade payables associated by the sales increase.

Disclaimer

THE MATERIALS SET FORTH IN THIS PRESENTATION DO NOT CONSTITUTE EITHER AN OFFER TO SELL SECURITIES OR THE SOLICITATION OF OFFERS TO BUY SECURITIES. ANY SUCH OFFER OR SOLICITATION WILL ONLY BE MADE PURSUANT TO A SUBSCRIPTION AGREEMENT, A FINAL PRIVATE PLACEMENT MEMORANDUM, OR ANOTHER OFFICIAL DOCUMENT DELIVERED IN ACCORDANCE WITH REGULATION D PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR OTHER APPLICABLE SECURITIES LAWS.

WE HAVE NOT PROVIDED FINANCIAL INFORMATION FOR LION E-MOBILITY GROUP HEREIN. HISTORICAL FINANCIAL INFORMATION WAS PREPARED IN ACCORDANCE WITH GERMAN GENERALLY ACCEPTABLE ACCOUNTING PRINCIPLES. INVESTORS SHOULD CONSULT WITH THEIR OWN FINANCIAL ADVISORS TO UNDERSTAND THE BASIS ON WHICH THE INCLUDED FINANCIAL STATEMENTS HAVE BEEN PREPARED.

THIS PRESENTATION ALSO CONTAINS FORWARD-LOOKING STATEMENTS THAT INVOLVE A NUMBER OF RISKS AND UNCERTAINTIES, INCLUDING STATEMENTS THAT RELATE TO, AMONG OTHER THINGS, THE COMPANY'S OBJECTIVES, GOALS, STRATEGIES, INTENTIONS, PLANS, BELIEFS, EXPECTATIONS AND ESTIMATES, AND CAN GENERALLY BE IDENTIFIED BY THE USE OF WORDS SUCH AS "MAY", "WILL", "COULD", "SHOULD", "WOULD", "LIKELY", "EXPECT", "INTEND", "ESTIMATE", "ANTICIPATE", "BELIEVE", "PLAN", "OBJECTIVE" AND "CONTINUE" (OR THE NEGATIVE THEREOF) AND WORDS AND EXPRESSIONS OF SIMILAR IMPORT. SUCH STATEMENTS INVOLVE RISKS, UNCERTAINTIES, AND ASSUMPTIONS, AND UNDUE RELIANCE SHOULD NOT BE PLACED ON SUCH STATEMENTS. FORWARD-LOOKING STATEMENTS ARE NOT GUARANTEES OF PERFORMANCE, AND NO REPRESENTATION OR WARRANTY OF ANY KIND IS GIVEN WITH RESPECT TO THE ACCURACY OF SUCH STATEMENTS. CERTAIN MATERIAL FACTORS OR ASSUMPTIONS ARE APPLIED IN MAKING FORWARD-LOOKING STATEMENTS, AND ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THOSE EXPRESSED OR IMPLIED IN SUCH STATEMENTS. IMPORTANT FACTORS THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM EXPECTATIONS INCLUDE BUT ARE NOT LIMITED TO: GENERAL BUSINESS AND ECONOMIC CONDITIONS (INCLUDING BUT NOT LIMITED TO CURRENCY RATES AND CREDITWORTHINESS OF CUSTOMERS); COMPANY LIQUIDITY AND CAPITAL RESOURCES, INCLUDING THE AVAILABILITY OF ADDITIONAL CAPITAL RESOURCES TO FUND ITS ACTIVITIES; LEVEL OF COMPETITION; CHANGES IN LAWS AND REGULATIONS; LEGAL AND REGULATORY PROCEEDINGS; THE ABILITY TO ADAPT PRODUCTS AND SERVICES TO THE CHANGING MARKET; THE ABILITY TO ATTRACT AND RETAIN KEY EXECUTIVES; AND THE ABILITY TO EXECUTE STRATEGIC PLANS. SUCH FORWARD-LOOKING STATEMENTS HAVE BEEN PREPARED BASED UPON INFORMATION AVAILABLE AT THE TIME MADE. FORWARD-LOOKING STATEMENTS SPEAK ONLY AS OF THE DATE THEY ARE MADE, AND THE COMPANY DOES NOT UNDERTAKE ANY OBLIGATION TO UPDATE PUBLICLY OR TO REVISE ANY OF THE FORWARD-LOOKING STATEMENTS CONTAINED IN THIS PRESENTATION, WHETHER AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE, EXCEPT AS REQUIRED BY LAW. ALL PROJECTIONS CONTAINED HEREIN HAVE BEEN PREPARED BY THE MANAGEMENT OF THE COMPANY AND HAVE NOT BEEN REVIEWED OR COMPILED BY INDEPENDENT PUBLIC ACCOUNTANTS OR FINANCIAL ADVISORS.

MARKET DATA INCLUDED HEREIN WAS OBTAINED FROM VARIOUS CONSULTANTS' REPORTS, TRADE PUBLICATIONS, INDUSTRY SOURCES AND COMPANY ESTIMATES. SUCH SOURCES AND ESTIMATES ARE INHERENTLY IMPRECISE. ACCORDINGLY, THE ACCURACY AND COMPLETENESS OF SUCH INFORMATION IS NOT GUARANTEED. ALTHOUGH THE COMPANY BELIEVES SUCH INFORMATION TO BE RELIABLE, IT HAS NOT INDEPENDENTLY VERIFIED SUCH MARKET DATA.