STOCKHOLM, November 19, 2024 — The third quarter saw us finalize an agreement to sell and deliver a 30 MW electrolysis plant to Motor Oil in Greece. This marks a significant achievement in our pursuit of becoming a leading provider of industrial hydrogen production solutions. This Motor Oil project is a crucial step in our efforts to develop and license the manufacturing of large-scale electrolysis plants. Our own system product manufacturing will commence within this project, leveraging our existing factory and personnel in Greece. The project offers potential for further growth, with Motor Oil having the option to expand the plant by an additional 20 MW in a subsequent phase.

The full CEO commentary is available in the complete Interim report.

July-September Quarter

• Revenue totaled SEK 6.1 (21.6) million
• Earnings before interest, taxes, depreciation, and amortization (EBITDA) reached SEK -46.3 (-16.9) million
• Operating profit (EBIT) amounted to SEK -49.1 (-19.6) million
• Profit/Loss after financial items totaled SEK -49.3 (-19.9) million
• Earnings per share were SEK -0.07 (-0.06)

January-September Period

• Revenue totaled SEK 26.0 (65.8) million
• Earnings before interest, taxes, depreciation, and amortization (EBITDA) reached SEK -89.6 (-44.6) million
• Operating profit (EBIT) amounted to SEK -97.9 (-52.7) million
• Profit/Loss after financial items totaled SEK -99.4 (-53.4) million
• Earnings per share were SEK -0.15 (-0.16)

Events during and after the quarter

• On August 8, Metacon announced an agreement for the delivery of a 30 MW industrial electrolysis plant valued at EUR 19.8 million (approximately SEK 226 million), marking the start of our European electrolyzer manufacturing.
• On September 10, the appointment of Nikolett Sipöcz as Chief Business Officer Electrolysis, effective November 4, 2024, was announced. She succeeds Johan Berggren, who will focus on sales and business development as Business Development Director.
• On October 15, Metacon’s board approved a rights issue of approximately SEK 138 million, subsequently ratified by the Extraordinary General Meeting on November 15.

Contact
Christer Wikner, President & CEO, +46 707 647 389,
Mattias Jansson, CFO, +46 722 316 862

This is information that Metacon AB (publ) is required to disclose under the EU Market Abuse Regulation. The information was released through the contact person above at 08:00 CET on November 19, 2024.

About Metacon

Metacon AB (publ) develops and manufactures energy systems for fossil-free “green” hydrogen production. Our Reforming business area utilizes patented technology to generate hydrogen via catalytic steam reforming of biogas or other materials. This development takes place at our wholly-owned subsidiary, Metacon S.A., in Patras, Greece. We concentrate on catalytic process chemistry and advanced reformers for high-efficiency hydrogen production.

Metacon also provides complete electrolysis plants and integrated refueling stations for green hydrogen, a significant and expanding global market. Electrolysis uses electricity to split water into hydrogen and oxygen. Using renewable electricity results in fossil-free, climate-neutral hydrogen. Green hydrogen has applications in transport, industry, and real estate, promoting environmental benefits, climate action, and energy independence.

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