LION E-Mobility

Earnings Release • Aug 2, 2024

CORPORATE FINANCE FINANCIAL RESTRUCTURING Preliminary Group results Q2/1H 2024

HL.com

FINANCIAL AND VALUATION ADVISORY August 2024

FINANCIAL HIGHLIGHTS Q2 2024

REVENUE EBITDA (EURm) (EURm) OPERATING CASH FLOW (EURm) • Q2 figures reflect firstly the slowdown in EV sales, the high pressure on battery cells and modules in the mobile and especially the electric storage industry. We improved on Q2 revenues and see increasing demand in 2H. • Margins improved with Q2 sales being higher than in Q1, but still negative. Hence, we could reduce EDITDA to - 2.1m EUR in Q2. • We are striving to reach the EBITDA break-even revenues but assume a possible negative EBITDA for the FY, as explained in the adhoc. • With increased revenues we could reduce our operating cash flow needs throughout 1H. * 1,2 4,8 Q1 2024 Q2 2024 -2,6 -2,1 Q1 2024 Q2 2024 -3,5 -2,2 Q1 2024 Q2 2024

* In 2023, missing comparable 1H consolidated data for the entire group

PROFIT AND LOSS 1H 2024

EURm

Income Statement	1H 2024	FY 2023
Revenues	6.1	56.1
Increase in contract assets portfolio	0.0	0.9
Other own work capitalised	0.3	0.4
Total Earnings	6.3	57.4
Other operating income	0.3	1.5
Cost of materials	-5.4	-48.3
Personnel expenses	-3.2	-5.7
Other operating expenses	-2.8	-4.9
EBITDA	-4.8	0.00
EBITDA margin %	-75.5%	-0.0%
Depreciation and amortization	-0.6	-0.9
EBIT	-5.4	-0.9
EBIT margin %	-85.5%	-1.7%
Finance income	0.2	0.1
Finance expenses	-1.3	-1.5
Share of profits of associated subsidiaries	0.0	0.7
EBT	-6.5	-1.6
Taxes	1,8	0,7
Result	-4,8	-1.0

• In 1H 2024, weaker revenues are due to the slow-down in EV sales and liquidation of cells and modules at OEMs in the market we participate
• Increase in personnel costs reflect our ambition in developing our new products, new cell chemistry and especially immersion technology, also seen in the capitalized project work
• Other operating expenses amounted to 2.8m, slightly higher than the previous year's average, reflecting increasing operational activities and investments in people
• Financing costs increased to 1.3m due to increased capital needs in 1H, including accrued interests for loans of our main shareholder

* Compared to FY 2023 audited figures

CASHFLOW 1H 2024

EURm

Cash Flow Statement	1H 2024	FY 2023
Cash and cash equivalents at beginning of period	4.4	3.0
Cash flow from operating activities	-5.7	2.8
Cash flow from investing activities	-1.1	-10.8
Cash flow from financing activities	1.1	9.5
Net change in cash and cash equivalents	-5.7	1.4
FX effect	0.0	0.0
Cash and cash equivalents at end of period	-1.3	4.4

• Despite the weaker cashflow in 1H, LION expect an improvement in 2H driven by increasing sales and possible disposals.

• LION continues investing -1.1m in 1H, hence increasing our capex.
• The 1.1m cashflow from financing activities includes a drawdown on our overdraft facility at Commerzbank.

BALANCE SHEET 1H 2024

EURm

Balance Sheet	1H 2024	YE 2023
Total Assets	42.8	69.3
A. Non-current assets	27.7	25.5
B. Current assets	15.1	43.8
Equity and liabilities	42.8	69.3
A. Equity	8.8	13.5
B. Non-current liabilities	6.6	8.3
C. Current liabilities	27.4	47.5

• Non-current assets slightly increased by 1.4m from Q1 by activating projects and activating more latent taxes. Latter caused 1.8m increase from YE2023.
• Current assets decreased by 28.7m.
• Beginning of June, TAB subsidies of 1.8m were received.
• 3.1m upcoming repayments of a bank loan within the next 12 months shifted from non-current liabilities to current liabilities.
• Current liabilities have been decreased overall by 20.1m, with further increased payback to suppliers of raw materials.
• Overall, we have a slightly improved equity ratio of 20.1% which is higher than last year's average.

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.