Innio N.v. · NASDAQ:INIO
Innio — Q2 2026 Earnings Presentation
34 slides from Innio's earnings presentation, Jul 28, 2026
Slide 1: Second Quarter 2026 Results
Second Quarter 2026 Results July 28, 2026
Slide 2: Today’s Agenda
Today’s Agenda 01 Company Highlights 04 Summary 02 Q2 Business Update 03 Financial Results 2
Slide 3: Disclaimer
Disclaimer Forward-Looking Statements This presentation includes forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact contained in this presentation, including stat
Slide 4: Substantial progress made since IPO while building momentum
Substantial progress made since IPO while building momentum Record Q2’26 results • Equipment Order Intake 1: $2.3bn , +316% year - over - year • Equipment Order Backlog 1: $6.6bn, +279% year - over - year • Equipment Revenue: $569m , +61% year - over - year • Total Revenue: $938m , +42% year - over
Slide 5: Company Highlights
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Slide 6: INNIO in numbers: 2025
INNIO in numbers: 2025 ~$2.6bn ~$549m ~70% ~100 ~ 5,000 Adj. EBITDA 1 Revenue Cash Conversion 1 Countries Served FTEs (~21% margin) Equipment Services 52% of Revenue 48% of Revenue 35% of Adj. Segment EBITDA 65% of Adj. Segment EBITDA Data Center Power Solutions Compression Services ~59% of ~35% of
Slide 7: Multi-year revenue visibility from record backlog feeds high-margin Services flywheel
Multi - year revenue visibility from record backlog feeds INNIO's high - margin Services flywheel Equipment Flywheel Services Equipment revenue fuels Services growth Equipment Order Intake 1 Revenue wing Insta A gro lled Ba $ 3.9 bn $6.6bn ue ling the Service s bu se is $ 1.3bn $1.4bn sin f FY25A LT
Slide 8: Gas engines are a cost-saving behind-the-meter technology
Gas engines are a cost - saving behind - the - meter (BTM) technology. Once installed, operational cost is below grid cost Levelized cost of electricity (LCOE) comparison 1 Key advantages against grid BTM solutions ($ per MWh) Grid costs ($ per MWh) INNIO engines have favorable levelized cost of ele
Slide 9: Q2 2026 Business Update
Q2 2026 Business Update 02 9
Slide 10: Second Quarter 2026 Highlights
Second Quarter 2026 Highlights $2.3bn $569m $938m $172m Equipment Equipment Total Adj. Order Intake 1 Revenue Revenue EBITDA 1 +316% yoy +61% yoy +42% yoy +20% yoy Note: 1 Equipment Order Intake is a KPI. Adjusted EBITDA is a non - GAAP measure. Please see appendix for further details on reconciliat
Slide 11: Q2’26 order commentary
Q2’26 order commentary Q2’26 order dynamics Resulting customer profile 1 • Equipment Order Intake 1 of $2.3bn in Q2'26, up 316% y/y Top customers by Equipment Order Intake — strongest quarter to date, driven by continued data Each bucket represents a unique customer representing >2.5% of total Equip
Slide 12: Q2’26 landmark order
Q2’26 landmark order • Secured 1.1 GW prime power order from new customer • Customer is a developer and operator of mega - scale data centers • INNIO’s J624 gas engine expected to deliver resilient, scalable, and efficient behind - the - meter power generation • Phased, multi - year delivery schedul
Slide 13: Financial Results
Financial Results 03 13
Slide 14: Q2 2026 key messages
Q2 2026 key messages 1 Accelerating demand across all business lines: Q2 Equipment Order Intake 1 up >300% YoY 2 Disciplined backlog execution driving growth across Equipment and Services 3 Capacity expansion projects across the U.S. and EU are already driving output growth 4 FY26E Adj. EBITDA 1 gui
Slide 15: Financial snapshot
Financial snapshot ($m) Q2’25 Q2’26 yoy % ’25 YTD ’26 YTD yoy % Q2’26 dynamics Equipment Strong momentum across all business lines, 550 2,290 +316% 1,203 3,908 +225% Order Intake 1 with Equipment book - to - bill at 4.4x in H1’26 Equipment 1,735 6,576 +279% Substantial increase in visibility Order B
Slide 16: Backlog and slot reservations provide multi-year visibility
Backlog and slot reservations provide multi - year visibility and fuel long duration Services business More than 4x of Q2’26 LTM Power Delivered 1 >15 GW ~64% of >15 GW related to BTM data center solutions Q2’26 Combined Equipment Order Backlog 1 and Slot Reservations 2 across Data Center, Power Sol
Slide 17: Ongoing capacity increase to meet growing demand
Ongoing capacity increase to meet growing demand Capacity expansion Achievements to date Targeted growth of production capacity in the coming years 1 Jenbach , Austria & Hall, Austria • Construction of new, state - of- the - art assembly line in Jenbach ~10 GW • De - bottlenecking of Jenbach campus
Slide 18: Equipment Order Intake and Backlog showcase positive momentum
Equipment Order Intake and Backlog showcase positive momentum Equipment Order Intake 1 ($m) Equipment Order Backlog 1 ($bn) +279% +83% +225% $6.6 $3,908 $4.9 +316% $3.6 $2,290 $3.3 $1,203 $1.7 $550 Q2’25 Q2’26 ’25 YTD ’26 YTD Q2’25 Q3’25 Q4’25 Q1’26 Q2’26 Data Center Power Solutions Compression Broa
Slide 19: Continued topline growth and targeted capacity expansions driving long-term scale
Continued topline growth and targeted capacity expansions driving long - term scale Total Revenue ($m) Adj. Segment EBITDA ($m) Adjusted Segment EBITDA Margin +39% 23% 20 % 23% 20% $1,606 + 19% $321 +42% $1,154 $ 270 $938 +24% $188 $660 $152 Q2’25 Q2’26 ’25 YTD ’26 YTD Q2’25 Q2’26 ’25 YTD ’26 YTD Eq
Slide 20: Equipment segment
Equipment segment Data Center We are turning market demand +58% Power Solutions into results $892 Compression • Disciplined execution on Equipment +61% Order Backlog 1 expected to translate $569 $564 into revenue growth, including large - scale data center projects Revenue ($m) $354 • Margin traject
Slide 21: Services segment
Services segment Our flywheel - based business model has delivered +21% $715 • Consistent conversion of strong Equipment sales into long - term high - $589 margin Services business +21% Revenue ($m) $368 • Temporary growth - related $305 investment in parts capacity and service force mitigated by ma
Slide 22: Fiscal 2026 full-year outlook
Fiscal 2026 full - year outlook Revenue ($m) Adj. EBITDA 1 ($m) Margin 1 21% ~19 % 2 +46% 2 $3,800 - 3,900 +33% 2 $720 - 740 3 Services ~35% 2 $ 2,637 $549 Services ~48% Equipment ~65% 2 Equipment ~52% FY25 A FY26 E FY25 A FY26 E Accelerating revenue growth expected in combination with margin recove
Slide 23: Summary
Summary Y LN S AI MMMM ~ j = aw) — were hii | Hie a aT HL | 4 WP LL WS 7 é a 5 . ‘uo omc > : i Tlian = Prin = a i P= TTT Mes > Auikiticia werent ~ oe al _—
Slide 24: INNIO is well positioned for sustained growth
INNIO is well positioned for sustained growth Strong order pipeline Text Profitable long - term service growth Well - balanced capacity increase © 2026 INNIO. All rights reserved 24
Slide 25: Q&A
Q&A 25
Slide 26: Appendix
Appendix INNIO
Slide 27: Financial trending metrics
Financial trending metrics INNIO Q2'25 Q3'25 Q4'25 FY 2025 Q1'26 Q2'26 LTM Q2’26 y/y % ($m, other than percentages) Total Revenue 660 743 741 2,637 669 938 3,090 42% Adj. EBITDA 1 144 144 147 549 122 172 586 20% Adj. EBITDA Margin 1 22% 19% 20% 21% 18% 18% 19% (3.5)pp Revenue by Geography ($m) Total
Slide 28: Financial trending metrics by segment
Financial trending metrics by segment Equipment Segment Q2'25 Q3'25 Q4'25 FY 2025 Q1'26 Q2'26 LTM Q2’26 y/y % ($m, other than percentages and GW) Equipment Order Intake 1 550 1,975 706 3,884 1,617 2,290 6,589 316% o/w Data Center 294 1,386 294 2,282 1,005 1,464 4,149 398% o/w Power Solutions 209 529
Slide 29: INNIO’s deleveraging path continues
INNIO’s deleveraging path continues 3.6x 3.2x 2.7x Net Leverage Ratio Q4’25 Q1’26 Q2’26 Indebtedness 2,659 2,634 2,619 Cash and Cash Equivalents (690) (841) (1,040) Net Indebtedness 1,969 1,793 1,579 LTM Adj. EBITDA 1 549 557 586 Net Leverage Ratio 3.6x 3.2x 2.7x Note: 1 Adjusted EBITDA is a non - G
Slide 30: Reconciliation of GAAP Net Income to Cash Conversion and Free Cashflow Conversion
Reconciliation of GAAP Net Income to Cash Conversion and Free Cashflow Conversion ($m, other than percentages) Q2’25 Q2’26 Q2’26 y/y % Q2’25 YTD Q2’26 YTD YTD ’26 y/y % FY 2025 Net Income (loss) 62 (17) (127)% 97 (26) (127)% 142 Management adjustments 4 85 6 103 39 Other non - cash items 2 2 4 6 10
Slide 31: Reconciliation of GAAP EPS to Adjusted EPS
Reconciliation of GAAP EPS to Adjusted EPS Three Months Ended June 30 ($m, other than share amounts and per share amounts) Q2’25 Q2’26 Adj. Segment EBITDA 152 188 Unallocated corporate costs (HQ & other not included in Adjusted Segment EBITDA) (8) (16) Total Group Adjusted EBITDA 144 172 Management
Slide 32: Reconciliation of Adj. Segment EBITDA to Net Income
Reconciliation of Adj. Segment EBITDA to Net Income ($m) Q2’25 Q3’25 Q4’25 FY’25 Q1’26 Q2’26 LTM Net income (loss) 62 40 5 142 (9) (17) 19 Income tax expense 18 15 (3) 42 5 13 30 Interest expense and related financing costs - net 22 35 79 164 71 53 237 Other income (expense) - net (1) 3 (3) (1) (3)
Slide 33: Glossary
Glossary Term Category Definition Full time equivalents. We define FTEs as each of our employees or employees of record, which are employees hired on behalf of us by a t hird - party organization, excluding interns, contractors, FTEs General apprentices, passive employees and employees on leaves of
Slide 34: I NALS
I NALS INNIO