LION E-Mobility — Investor Presentation 2026

May 12, 2026

E-MOBILITY AG

Preliminary Group report Q1 2026

May 2026

LIPN

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FINANCIAL HIGHLIGHTS Q1 2026

2

REVENUE

(EURm)

Q1 2026 3,3
Q1 2025 6,5

EBITDA

(EURm)

Q1 2026 0,3
Q1 2025 1,5

OPERATING CASH FLOW

(EURm)

Q1 2026 3,0
Q1 2025 1,0

• Revenue reached 3.3m EUR, reflecting temporary customer inventory effects after accelerated order intake in Q4 2025 related to the planned SE09 NMC transition.
• EBITDA remained positive at 0.3m EUR, compared to 1.5m EUR in Q1 2025, despite lower revenues.
• Operating cash flow improved significantly to 3.0m EUR, compared to 1.0m EUR in Q1 2025, reflecting continued cost discipline and improved payment conditions with suppliers.

LIPN

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PROFIT AND LOSS Q1 2026

EURm

Income Statement	Q1 2026	Q1 2025
Revenues	3.3	6.5
Increase in contract assets portfolio
Other own work capitalised	0.8	0.6
Total Earnings	4.1	7.1
Other operating income	0.1
Cost of materials	-1.6	-3.1
Personnel expenses	-1.5	-1.7
Other operating expenses	-0.8	-0.8
EBITDA	0.3	1.5
EBITDA margin %	10.1%	23.1%
Depreciation and amortization	-0.4	-0.4
EBIT	0.0	1.1
EBIT margin %	-0.6%	17.5%
Finance income	0.0	0.0
Finance expenses	-0.3	-0.5
EBT	-0,3	-0.1
Taxes	0.1	-0.1
Result	-0.1	0.6

• Revenue totaled EUR 3.3m, reflecting the typical slower start to the year and the absence of the prior-year one-off effect related to the SE09 NMC fade-out announcement.
• Capitalized own work rose to EUR 0.8m, driven by the final R&D phase of NMC+.
• Cost of materials declined significantly to EUR 1.6m, primarily reflecting lower revenue levels compared to EUR 3.1m in Q1 2025, while gross margin remained stable at 52%.
• Personnel expenses decreased slightly to 1.5m EUR compared to 1.7m EUR in Q1 2025.
• Other operating expenses remained broadly stable year on year.
• As a result, EBITDA remained positive at 0.3m EUR, (Q1 2025: 1.5m EUR) despite lower revenue levels.
• Finance expenses were reduced to -0.3m EUR (Q1 2025: -0.5 EUR), reflecting the conversion of shareholder loans into equity.

LIPN

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CASHFLOW Q1 2026

EURm

Cash Flow Statement	Q1 2026	Q1 2025
Cash and cash equivalents at beginning of period	-2.3	-2.8
Cash flow from operating activities	3.0	1.0
Cash flow from investing activities	-0.8	-0.9
Cash flow from financing activities	-0.1	0.2
Net change in cash and cash equivalents	2.1	0.2
FX effect	0.0	0.0
Cash and cash equivalents at end of period	-0.2	-2.6

• Cash flow from operating activities strengthened to 3.0m EUR, reflecting the solid operating performance in the quarter and better payment conditions with suppliers.
• Cash flow from investing activities amounted to -0.8m EUR, driven by continued investments in NMC+ modules and packs.
• Cash flow from financing activities amounted to -0.1m EUR, mainly reflecting regular bank loan repayments.

LIPN

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BALANCE SHEET Q1 2026

EURm

Balance Sheet	Mar 31, 2026	Dec 31, 2025
Total Assets	38.2	39.4
A. Non-current assets	27.5	26.9
B. Current assets	10.7	12.5
Equity and liabilities	38.2	39.4
A. Equity	15.1	15.2
B. Non-current liabilities	0.7	0.7
C. Current liabilities	22.4	23.5

• Total assets decreased slightly to EUR 38.2m from EUR 39.4m at year-end 2025, mainly driven by lower trade receivables, partly offset by higher inventories for the planned production shutdown and increased capitalized development costs related to NMC+.
• Equity remained stable at EUR 15.1m, compared to EUR 15.2m at year-end 2025.
• Non-current liabilities remained at a low level of EUR 0.7m, broadly in line with year-end 2025.
• Current liabilities decreased to EUR 22.4m from EUR 23.5m at year-end 2025, reflecting disciplined working capital management.

LIPN

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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.

LION

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LION

E-MOBILITY AG