Lemon Sistemi S.p.a. · MIL:LS
Lemon Sistemi — Next Gems 2025
28 slides from Lemon Sistemi's conference presentation, Oct 21, 2025
Slide 1: Next Gems 2025
NEXT GEMS NEXT GEMS 2025 October 21st, 2025 Sciacca (AG) - 312 kWp SunPower photovoltaic system
Slide 2: Speakers
SPEAKERS Maria Laura Spagnolo Enrico Rizzo Chairman of BoD and Administration and co-CEO Accounting Manager 2
Slide 3: Overview
OVERVIEW TAILOR-MADE RENEWABLE PLANT POSITIONING IN A STRATEGIC MARKET Design, supply and installation of photovoltaic, thermo- High potential market with many operators and high growth hydraulic and storage systems, as well as the design of possibilities solutions for energy efficiency, targeting B
Slide 4: Business Areas
BUSINESS AREAS 1. PHOTOVOLTAIC 2. PHOTOVOLTAIC AND AGRIVOLTAIC SYSTEMS 3. CO-DEVELOPMENT AND DEVELOPMENT OF BESS 4. ENERGY EFFICIENCY (PHOTOVOLTAIC PARKS) ▪ Core business; ▪ Design and construction of the ▪ Participation activities started in plant with the aim of selling it; ▪ Design of energy effi
Slide 5: Updates & Pipeline
UPDATES & PIPELINE Cinisi (PA) – 616 kWp SunPower 5 photovoltaic system
Slide 6: 2025 Updates
2025 UPDATES 28 Signed a contract with the company Alfa Graniti S.r.l. for the realization of a FEB. photovoltaic system worth € 1 million. Signed a preliminary purchase agreement with Alfa Graniti S.r.l. to build a fixed 27 ground-mounted photovoltaic plant for the production of electricity from JU
Slide 7: Pipeline
PIPELINE The pipeline consists of 11 Photovoltaic Parks, at different stages of development, divided as follows: ▪ 5 Photovoltaic Parks (14.32 MW): ready-to-build status ▪ 1 Photovoltaic Park (5.05 MW): ready-to-build status but requires renewal of the real right of use of the land; ▪ 3 Photovoltaic
Slide 8: Financials H1 2025
FINANCIALS H1 2025 Cinisi (PA) – 616 kWp SunPower 8 photovoltaic system
Slide 9: H1 2025 Financial Highlights
H1 2025 FINANCIAL HIGHLIGHTS VALUE OF EBITDA EBITDA PRODUCTION MARGIN € 4.1 M € 1.0 M 25.1% € 4.4 M in H1 2024 € -0.4 M in H1 2024 -9.6% in H1 2024 NET RESULTS NET EQUITY NET DEBT € 0.5 M € 7.7 M € 5.3 M € -1.7 M in H1 2024 € 7.2 M in FY 2024 € 4.3 M in FY 2024 9
Slide 10: Value of Production
VALUE OF PRODUCTION VALUE OF PRODUCTION EVOLUTION (€/M) VoP BREAKDOWN 0% 0% 24% 16.0 35% 11.9 2% H1 2024 H1 2025 4% 59% 9.1 69% 1% 4% 4.4 4.1 1H 2023 1H 2024 Photovoltaic Photovoltaic Parks Energy efficiency FY 2022 FY 2023 FY 2024 H1 2024 H1 2025 BESS Other ▪ The largest item was Photovoltaic, the
Slide 11: EBITDA
EBITDA EBITDA (€/M) ▪ Ebitda returns to positive territory despite the fact that progress on the photovoltaic parks has been accounted for at cost 4.0 ▪ Personnel costs have been reduced thanks to a reorganisation process and the move to the new single headquarters, which has 2.8 promoted greater ef
Slide 12: Net Financial Debt
NET FINANCIAL DEBT Consolidated data in €/000 • Absorption of liquidity to meet operational and Net Financial Position 30/06/2025 31/12/2024 strategic needs. Cash & equivalents 350 1,887 • The Net Financial Debt was affected as follows: Other current financial assets 0 0 Liquidity 350 1,887 – the Gr
Slide 13: Outlook
OUTLOOK ▪ New non-repayable incentives: starting in July 2025 ▪ New MIMIT* call window ▪ New Basilicata call window (pending opening) ▪ Sardinia call (active from September 1, 2025 to October 15, 2025) ▪ Upselling to REN 2025 customers ▪ Expansion of sales channels ▪ Evaluations are underway for agr
Slide 14: Strategy
STRATEGY Cinisi (PA) – 616 kWp SunPower 14 photovoltaic system
Slide 15: Future Strategy
FUTURE STRATEGY COMMERCIAL DEVELOPMENT OF DEVELOPMENT INCREASE IN THE DEVELOPMENT PHOTOVOLTAIC PARKS OF STORAGE AVERAGE SIZE OF PLAN PLANTS (BESS) PV SYSTEMS (1MWp - 10MWp) 15
Slide 16: Commercial Development Plan
COMMERCIAL DEVELOPMENT PLAN ▪ The objective of the group is to implement a penetration strategy throughout the Italian territory, through agreements with Gas and Light Agencies throughout the national country. OBJECTIVES Penetration of the Italian market Increased visibility and brand awareness Scal
Slide 17: Development of Photovoltaic Parks
DEVELOPMENT OF PHOTOVOLTAIC PARKS ▪ Direct development of Photovoltaic Parks with the aim of selling the system after construction, acquiring multi-year management and maintenance contracts with a minimum period of no less than 25 years. OBJECTIVES Generation of stable cash flows over time: ▪ One-of
Slide 18: Development of BESS
DEVELOPMENT OF BESS ▪ The strategy involves participation in commissioned projects relating to large storage plants with leading operators in the sector. OBJECTIVES Have design contracts lasting 12/24 months with milestone invoicing Co-Develop and then sell projects for one-off revenue CONTRACT SIGN
Slide 19: Increase in the Average Size of PV Systems
INCREASE IN THE AVERAGE SIZE OF PV SYSTEMS (1MWp - 10MWp) ▪ A further objective of the group is to increase the incidence of revenues linked to larger photovoltaic system projects: in particular, the group intends to continue to increase the incidence of revenues linked to the design, supply and ins
Slide 20: Investment Highlights
INVESTMENT HIGHLIGHTS SHORT TIME TO MARKET TAILOR-MADE RENEWABLE PLANT (3KWP-10MW) INTEGRATED SERVICE MANAGEMENT EXPERTISE MARKET GROWTH AND REFERENCE LEGISLATION PARTNERSHIPS WITH MAJOR MARKET NAMES 20
Slide 21: Appendix
21 APPENDIX Cinisi (PA) – 616 kWp SunPower photovoltaic system
Slide 22: History
HISTORY HISTORY The main shareholders sign a binding and irrevocable letter of intent received by Enasarco Enrico Rizzo (Head of Administration Energia S.p.A. for the sale to the Engineers Maria Laura Spagnolo and and Accounting), Antonino Palazzolo In December listed on Euronext latter of 2,160,883
Slide 23: Governance and Shareholder Structure
GOVERNANCE AND SHAREHOLDER STRUCTURE BOARD OF DIRECTORS SHAREHO LDER STRUCTURE* Maria Laura Spagnolo Chairman and co-CEO 2,7% 4,2% 2,3% PDH S.r.l.** Danilo Palazzolo Salvatore Bommarito 3,9% 2,9% 26,8% Maria Laura Spagnolo co-CEO & CFO Board member Salvatore Spagnolo Miria Group (ex GWM Group) 13,9%
Slide 24: ESG
ESG ENVIRONMENTAL SOCIAL GOVERNANCE ▪ The installation of a photovoltaic ▪ The number of female figures ▪ Composition of the Board of system is foreseen within the present in the company is 18, Directors: 5 directors of which 2 renovation project of the future with important roles are independent he
Slide 25: Main Suppliers & Customers
MAIN SUPPLIERS & CUSTOMERS SUPPLIERS CUSTOMERS ▪ Commercial collaborations with the main suppliers on ▪ Lemon Sistemi proposes its design and technology offerings the national market; to both the residential and commercial markets. ▪ Premier Partner of Sunpower, a company universally ▪ Over the year
Slide 26: Income Statement
INCOME STATEMENT Consolidated data in €/000 Income Statement 30/06/2025 30/06/2024 % Revenues from sales 1,507 1,887 -20.1% Works in progress on ordination 1,250 2,175 -42.5% Increases in fixed assets for internal works 1,150 0 n.a. Other income 174 295 -40.9% Value of Production 4,081 4,356 -6.3% C
Slide 27: Balance Sheet
BALANCE SHEET Consolidated data in €/000 Balance Sheet 30/06/2025 31/12/2024 % Intangible fixed assets 766 908 -15.6% tangible fixed assets 1,210 901 34.3% Financial fixed assets 0 0 n.a Net fixed assets 1,976 1,808 9.3% Inventories 8,049 6,590 22.1% Commercial credits 2,540 1,424 78.4% Commercial d
Slide 28: Lemon Sistemi and CDR Communication contacts
Lemon Sistemi lemonsistemi.it [email protected] CDR Communication Marika Martinciglio [email protected] Marta Alocci [email protected]