SFC Energy AG / DE0007568578

Macroeconomic uncertainties, import tariffs and adverse exchange rate effects impair customers’ forward planning visibility and willingness to invest Delayed project awards in the defence and public security sector in India dampen short-term expectations Group sales up 3.9%, rising to EUR 73,607 thousand (H1/2024: EUR 70,856 thousand) – 13.6% increase in the second quarter Adjusted EBITDA of EUR 8,522 thousand (H1/2024: EUR 12,526 thousand); adjusted EBITDA margin of 11.6% (H1/2024: 17.7%) Adjusted EBIT of EUR 4,640 thousand (H1/2024: EUR 9,558 thousand); adjusted EBIT margin of 6.3% (H1/2024: 13.5%) Measures taken to strengthen profitability: cost optimisation, prioritisation of investments and IT projects Outlook for growth in core target markets intact – additional impetus from regional expansion and targeted M&A activities in the United States and South East Asia Brunnthal/Munich, Germany, 26 August 2025 – SFC Energy AG (“SFC”, F3C:DE, ISIN: DE0007568578), a leading supplier of fuel cells for stationary, portable and mobile hybrid power solutions, published its figures for the first half of 2025 today. Report by the Management Board Dr. Peter Podesser, CEO of SFC Energy AG: “The first half of 2025 saw the achievement of important milestones as well as developments that prompted us to adjust our full-year forecast at the end of July. This decision was not easy for us, but was nevertheless necessary in order to define realistic expectations and to set the right course on the basis of a clear analysis of the situation. A macroeconomic environment characterised by uncertainty, unfavourable exchange rates in three core markets (Canada, United States and India) and the effects of US import tariffs, which made customers reluctant to make investment decisions, all had a negative impact. In addition, planned defence programmes in India will likely be postponed until 2026. These projects are still in the pipeline, but cannot be made up for in the short term. Another extraordinary temporary burden on our financial result arose from spending that we brought forward on our ERP system and on an improved cybersecurity infrastructure to fortify the efficiency and resilience of our structures in the long term. We are addressing the current challenges with clearly defined cost optimisation measures, the prioritisation of investments and IT projects, targeted M&A activities, and the expansion of our regional presence. At the same time, our core business remains solid: methanol fuel cells for industrial applications in Europe and the United States, particularly in the core target markets of civil security technology and civil protection, continued to grow organically by more than 20% in the first half of the year. Together with sales in the defence and public security market, this part of the business accounted for 48.4% of total sales in the first half of the year. We are securing sustainable growth with our ‘Local-for-Local’-strategy, which aims to reduce our exposure to import tariffs, currency risks, and supply chain dependencies. Key drivers include the new production facility in the United States, a strong pipeline in the defence and public security segment, and major infrastructure projects in Germany. Recently, we have successfully completed our first large-scale project: around 60 EFOY systems were used over several months to supply power for a motorway construction site. In this context, the urgent need to renovate 4,000 of Germany’s 28,000 motorway bridges – classified as requiring immediate action – represents an enormous additional market opportunity for us. Despite the adjustment to the forecast, the strategic direction remains unchanged: with its technological lead, extremely solid financial base and international expansion, SFC Energy is well positioned to continue its successful development. This is confirmed by the recent momentum in business: in the first few weeks of the third quarter, we received orders totalling around EUR 14 million in the United States, Canada and Europe.” Sales and orders In the period from 1 January to 30 June 2025, the SFC Energy Group recorded growth of 3.9% in sales, which climbed to EUR 73,607 thousand (H1/2024: EUR 70,856 thousand). The main drivers were organic growth in the Clean Energy segment and a significant increase in sales in the Clean Power Management segment. Regionally, the Netherlands (+75.1%), the United States (+32.4%), and Germany (+21.7%) delivered the greatest growth.

Sales by segment in EUR thousand	H1/2025	H1/2024
Clean Energy	51,761	50,860
Clean Power Management	21,846	19,997
Total	73,607	70,856

Order intake in the reporting period totalled EUR 43,665 thousand (Q1/2025: EUR 17,786 thousand). The order backlog was valued at EUR 74,311 thousand as of 30 June 2025 (31 December 2024: EUR 104,583 thousand). Segment performance In the first half of the year, the Clean Energy segment generated sales of EUR 51,761 thousand (H1/2024: EUR 50,860 thousand), equivalent to an increase of 1.8%. The weaker exchange rates of the US dollar, the Canadian dollar and the Indian rupee against the euro, as well as the postponement of major orders in India in the core target market of defence and public security, left negative traces. By contrast, business in fuel cell solutions for industrial applications in the core target markets of security technology / video surveillance and data transmission and digitalisation expanded, growing by around 20%. The segment’s share of Group sales stood at 70.3% in the first half of the year (H1/2024: 71.8%). Reflecting this, the share of sales in the Group total accounted for by the Clean Power Management segment widened to 29.7% (H1/2024: 28.2%). Segment sales increased by 9.2% to EUR 21,846 thousand in the first half of the year, up from EUR 19,997 thousand in the previous year, as business in power management solutions grew significantly. Earnings The higher Group sales led to a 5.8% increase in gross profit to EUR 31,270 thousand (H1/2024: EUR 29,542 thousand), marking an increase of EUR 1,728 thousand. This translated into a gross profit margin for the Group (gross profit as a percentage of sales) of 42.5% in the first half of the year, which was therefore up on the same period of the previous year (H1/2024: 41.7%). Gross profit for the individual segments compared to the previous year is as follows:

Gross profit by segment in EUR thousand	H1/2025	H1/2024
Clean Energy	24,323	24,360
Clean Power Management	6,947	5,183
Total	31,270	29,542

EBITDA adjusted for non-recurring effects came to EUR 8,522 thousand in the first half of 2025 (H1/2024: EUR 12,526 thousand). The main reasons for this were higher general administrative expenses and other operating expenses as a result of the unfavourable exchange rates. The adjusted EBITDA margin thus contracted to 11.6% (H1/2024: 17.7%). EBIT adjusted for non-recurring effects fell to EUR 4,640 thousand (H1/2024: EUR 9,558 thousand), yielding a margin of 6.3% (H1/2024: 13.5%). The first half of the year closed with a consolidated net result of EUR 257 thousand (H1/2024: EUR 5,842 thousand). Basic and diluted earnings per share in accordance with IFRS came to EUR 0.02 in the reporting period (H1/2024: EUR 0.34 and EUR 0.33, respectively). Statement of financial position and employee development As of 30 June 2025, the equity ratio stood at 71.3%, almost at the same level as on the 2024 balance sheet date (71.7%). The net financial position (freely available cash and cash equivalents less liabilities to banks) stood at EUR 46,166 thousand as of 30 June 2025 (31 December 2024: EUR 56,359 thousand). As of 30 June 2025, the SFC Energy Group had 509 permanent employees (31 December 2024: 470). Forecast for 2025 As already announced in the revised forecast published on 31 July, the Management Board now expects full-year sales of EUR 146.5 million to EUR 161.0 million for 2025 (previously EUR 160.6 million to EUR 180.9 million; 2024: EUR 144.8 million), adjusted EBITDA of EUR 13.0 million to EUR 19.0 million (previously EUR 24.7 million to EUR 28.2 million; 2024: EUR 22.0 million) and adjusted EBIT of EUR 5.0 million to EUR 11.0 million (previously EUR 17.5 million to EUR 20.6 million; 2024: EUR 15.6 million). This forecast factors in the ongoing macroeconomic uncertainties, delays in international project awards – particularly in defence and public security – as well as expected minor declines in average exchange rates for the US dollar and the Canadian dollar against the euro. At the same time, SFC assumes that the current underlying conditions will not deteriorate significantly in 2025. Import tariffs that are currently unknown or other obstacles to trade have not been taken into account in the forecast at the time of publication of this report. However, the medium and long-term outlook remains unchanged: with its technological strength, an extremely solid financial position and the international expansion strategy, SFC Energy considers itself on track to further achieve its overarching strategic goals. Key figures H1 2025/H1 2024

EUR thousands	1 Jan. - 30 June 2025	1 Jan. - 30 June 2024
Sales	73,607	70,856
Gross profit	31,270	29,542
Gross margin	42.5%	41.7%
EBITDA	4,581	10,636
EBITDA margin	6.2%	15.0%
Adjusted EBITDA	8,522	12,526
Adjusted EBITDA margin	11.6%	17.7%
EBIT	698	7,668
EBIT margin	0.9%	10.8%
Adjusted EBIT	4,640	9,558
Adjusted EBIT margin	6.3%	13.5%
Consolidated net result for the period	257	5,842
Order backlog*	74,311	104,583

* As of 30 June 2025/31 December 2024 Detailed financial information and conference call today, 26 August 2025 SFC Energy AG’s report for the first half of 2025 is available at www.sfc.com. SFC Energy AG will be holding a conference call in English for interested investors and members of the press at 9.00 a.m. today, 26 August 2025. To take part in the conference call, please register here: https://services.choruscall.it/DiamondPassRegistration/register?confirmationNumber=6896105&linkSecurityString=10a5a95c80 In addition, the Management Board of SFC Energy will be holding a presentation at 1 p.m. on 27 August 2025 during the Hamburg Investor Days.

About SFC Energy AG
SFC Energy AG (www.sfc.com) is a leading supplier of fuel cells for stationary, portable and mobile hybrid power supply solutions. With its Clean Energy and Clean Power Management business segments, SFC Energy AG is a fuel cell producer characterised by sustained profitability. The company distributes its award-winning products worldwide and has sold more than 75,000 fuel cells to date. The company is headquartered in Brunnthal/Munich, Germany, and has operating subsidiaries in India, Canada, the Netherlands, Romania, Denmark, the United Kingdom and the United States of America. SFC Energy AG is listed in the Prime Standard of the German Stock Exchange and has been included in the SDAX selection index since 2022 (WKN: 756857, ISIN: DE0007568578).

SFC Energy IR and Press Contact:
Susan Hoffmeister
Phone +49 89 125 09 03-33
Email: susan.hoffmeister@sfc.com
Web: sfc.com   * * *   This corporate news may contain certain forward-looking statements, estimates, opinions and projections regarding the future development of the company (“forward-looking statements”). Forward-looking statements can be recognised by terms such as “assume”, “plan”, “anticipate”, “expect”, “intend”, “will” or “should” as well as their negation and similar variants or comparable terminology. Forward-looking statements include all matters that are not based on historical facts. They are based on the current opinions, forecasts and assumptions of the Management Board of SFC Energy AG and involve substantial known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Forward-looking statements should not be read as guarantees of future performance or results and are not necessarily reliable indicators of whether or not such results will be achieved. All forward-looking statements contained in this corporate news apply only as of the date of this release. The company will not update or revise the information, forward-looking statements or conclusions contained in this corporate news to reflect any subsequent events, circumstances or inaccuracies that may arise after the date of this corporate news as a result of new information, future developments or otherwise, and assumes no obligation to do so. We provide no guarantee whatsoever that the forward-looking statements or assumptions contained herein will materialise.