Lhyfe (LHYFE) Trading Update summary

Financial performance and commercial growth

• 2024 revenue reached €5.1 million, quadrupling 2023 results and aligning with guidance.

• Client base expanded to around 50, with over 470 deliveries and a 99% service rate in France and Germany.

• Signed significant multi-year offtake contracts in France and Germany, including a 5-year deal with H2 Mobility for over 240 tonnes/year.

• New contracts with Hysetco and a French refueling operator for more than 45 tonnes/year each, and a 3-year deal with a major energy player.

• Built one of the largest hydrogen delivery fleets in the EU, operating 70 tube trailers across 8 countries.

Production capacity and project development

• Installed electrolysis capacity increased to 22 MW, nearly quadrupling year-on-year.

• Bouin site capacity to rise from 1 to 2.5 MW in 2025; Buléon and Bessières (5 MW each) began deliveries, now France's largest bulk green hydrogen sites.

• In Germany, Tübingen (1 MW) and Schwäbisch Gmünd (10 MW) sites installed, with commercial ramp-up set for 2025.

• Construction advanced at Croixrault (5 MW) and Le Cheylas (10 MW) in France, with Le Cheylas supplying HYmpulsion and regional manufacturers from 2025.

Project pipeline and strategic partnerships

• Project pipeline at end-2024 totaled 9.1 GW, with 558 MW at advanced development stages.

• Secured €11m subsidy for a 10 MW plant in Sweden and continued to secure grants, totaling €242m by year-end.

• Exclusive partnership with Elyse Energy for e-methanol production and with OX2/Velarion for a 300 MW hydrogen cluster in Sweden.

• Signed MoU with Masdar to co-develop large-scale green hydrogen projects in Europe.