Q2 2025

Philipp Schramm, CEO David Bandele, CFO

14 August 2025

Company update Q2 2025

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Q2 2025 Navigated a weak quarter with strategic progress and momentum building

Macro-economic headwinds impacted Q2 results

Taking actions: Cost-savings, right-sizing and strategic steps

Commercial momentum building

Q2 2025 Low activity resulting in weak financial performance in the quarter

· Fuel systems outperforms the overall trucking market due to strong momentum in refuse
· delays investment decisions
· Aftermarket impacted the cyclicality in cylinder requalification services

Positioning to drive sustainable growth

*) Growing and expanding markets

ل) Broadening our portfolio

8) Exploring new opportunities

Financials --------Q2 2025

Q2 2025 | Hexagon Group Weak quarter due to continued macroeconomic uncertainty

· Weak Mobile Pipeline market due to customers pausing capex investments
· Solid revenues for Fuel Systems, led by refuse sector strength
· Further cost savings measures implemented to mitigate effects of headwinds
· Updated reporting segments to align with new internal structure and IFRS requirements

Q2 2025 | Hexagon Group Updated segment reporting structure

Alternative fuel systems for commercial vehicles

Mobile Pipeline

Essential for gas supply chains and distribution

Aftermarket

Service, parts, install, and requalification, includes Hexagon Agility FleetCare and Hexagon Digital Wave

①Air Liquide

Q2 2025 | Fuel Systems Positive Fuel Systems results, despite depressed truck market

. Strong refuse sector offset by weaker truck sector
. Steady development in transit
. Commercial uptick for trucks powered by X15N engine
. Profitability impacted by product mix and lower volumes

Q2 2025 | Mobile Pipeline Weak Mobile Pipeline volumes as customers delay capex spend

· Larger players favored module utilization over fleet expansion due to current uncertainty
· Decline in volumes significantly impacted group revenue and margins

Q2 2025 | Aftermarket Stable revenue, profitability impacted by lower inspection activity

. Increased revenue in vehicle parts, services and install
· As expected, reduction in Mobile Pipeline MAE trailer inspection and requalification activities
. Lower sales of UE cylinder inspection machines

4 3%

Q2'25

Securing profitability and financial liquidity

Navigating headwinds responsibly, with a proven long-term business model

Hexagon enables the full value chain of natural gas and is #1 in its markets

Already invested in capacity, well positioned to deliver future growth

Positioning for further growth with commercial momentum picking up

Continued regulatory support for natural gas in the US

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Strategic steps taken in Q2

Commercial momentum building

Supportive regulations

Prioritization of technological neutrality, giving the industry back all available options to modernize and decarbonize.

= Big Beautiful Bill extends RNG support until 2029
्री EPA¹ keeps NOx standards
Internal combustion engine review underway ੰ

Callery of Children

Acres of the property

Strengthening our European footprint - acquisition of SES Composites

Significant supplier to European transit bus OEMs
Taking 100% ownership, from our 49% minority shareholding โดเง
· Expected 2025 revenue of EUR 33 million and EBITDA of EUR 2 million
• Transaction value of EUR 6.1 million, settled using Hexagon Composites and Hexagon Purus shares

Extended our strategic alliance agreement with Mitsui & Co.

· Mitsui & Co. has been a key strategic partner and shareholder of Hexagon since 2016
· Mitsui & Co. has been essential to the development of Hexagon Group
· Extension of strategic alliance agreement through 2030