McPhy_Investor_Presentation_Results_2021
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McPhy® Confidential | Do not reproduce or share without permission Investor Presentation December 2019

McPhy® Confidential | Do not reproduce or share without permission Jean-Baptiste LUCAS Chief Executive Officer Scale up strategy Emilie MASCHIO Chief Financial Officer

McPhy® Confidential | Do not reproduce or share without permission

McPhy® Confidential | Do not reproduce or share without permission order intake cash balance Large electrolyzers Small electrolyzers & Piel

McPhy® Confidential | Do not reproduce or share without permission Sales revenue Current Operating Income (EBIT) Closing cash Change in cash incl. (11.3) operational cash flow, (5.1) Investments & (4) Loan reimbursement. Operating Cash flow Includes 5 m€ all expenses related to the potassium hydroxide leak incident. Operating Income Growth in purchases and external charges in proportion to the activity and in line with the strategy : • Continue to invest in R&D : 5m€ (2m€ P&L impact + 3m€ capitalized) • First steps of the industrialization plans : 3m€ sales reinforcement, IT deployment,...

McPhy® Confidential | Do not reproduce or share without permission McPhy significant commercial acceleration since 2020 ELECTROLYZERS (MW) 13 13 0 2019 Preferred partner Signed projects * 191 MW in reference as of Dec.31, 2021, among which: 36 are signed projects (orders with signed purchase orders) and 155 MW for which McPhy has been selected as preferred partner (preferred partner and subject to the project's success, considering that some of these projects should have an impact on the revenue as of 2023) * 95 stations in reference as of Dec.31, 2021, among which 36 are signed projects...

McPhy® Confidential | Do not reproduce or share without permission 2021: L and XL projects materializing growing market (selection of projects) World’s first multi-megawatt hydrogen power plant Connected to a solar farm in Guyana Allowing steady access to electricity for 10,000+ remote households Operations in 2024 Green H2 production facility, multipurpose, in Sines Hydrogen Valley, Portugal Hype High-capacity Stations and Electrolyzers Consortium of 13 companies McPhy is preferred partner for alkaline technology Short-term orders in 2022 Privileged access to a potential market of up to 50...

McPhy® Confidential | Do not reproduce or share without permission McPhy at a Glance | Driving clean energy forward

McPhy® Confidential | Do not reproduce or share without permission A leading company in zero-carbon H2 production & distribution equipment Electrolyzers • Modular design: 1MW / 4MW / 20MW / 100MW+ • Pressurized Alkaline electrolysis (30 bar) • High-current density electrodes • For Industry, Mobility and Energy markets • Supply & Service Stations • High delivery capacity: 200 / 400 / 800 / 2,000 kg/d • All dispensing pressures: 350 bar / 700 bar / Dual Pressure • Easy coupling with electrolyzers • Main focus on heavy mobility (buses, trucks, trains, etc.)

McPhy® Confidential | Do not reproduce or share without permission A global presence | EU industrial footprint, global commercial reach Countries covered McPhy locations Wildau La Motte Fanjas, Grenoble, Paris Small Electrolyzers (PIEL) • Global reach, 50 countries • > 1000 installed Large Electrolyzers • EU focus, 5 countries • 36* MW are signed projects Stations • EU focus (France, Germany + UK) • 36* signed projects * 191 MW in reference as of Dec.31, 2021, among which: 36 are signed projects (orders with signed purchase orders) and 155 MW for which McPhy has been selected as preferred...

McPhy® Confidential | Do not reproduce or share without permission Scale-Up Strategy

McPhy® Confidential | Do not reproduce or share without permission Strengthening our position as an industrial leader and participate in the decarbonation of Europe, by contributing to the large-scale deployment of green hydrogen solutions Partner with our customers in the industry, mobility and energy sectors Optimize constantly the performance of our technologies, at the highest levels of quality and safety Accelerate our industrial scale-up to increase the competitiveness

McPhy® Confidential | Do not reproduce or share without permission Committed to the deployment of our scale-up strategy | +177 m€ end of 2021 to finance our 4-pillar strategic plan Invest in • As a technology company: maintain leadership in electrolyzers and hydrogen stations • Increase bankability of value proposition through emblematic clean energy projects • Grow industrial footprint to generate economies of scale: new capacities for stations and electrolyzers • Build international/panEuropean partnership ecosystem to establish market-wide references • Deliver cost out roadmap • Ensure...

McPhy® Confidential | Do not reproduce or share without permission Positioned on prime technology: alkaline | Proven long-term resilience and stability Alkaline expected to weight 60+% of European electrolyzer installed base Pressurized alkaline technology highlights • Innovative high-current density electrodes other tbd ALK <1 co-developed with: • Long term resilience and stability • Lower CAPEX (precious metals avoidance, ...) • Compacity Pressurized alkaline electrolysis is the most selected technology to answer the broad-scale needs of decarbonization • Flexibility suited to integration...

McPhy® Confidential | Do not reproduce or share without permission Why choosing McPhy? | Front runner within electrolysis technology Electrolyzers • High current density electrodes • Flexibility and fast response time Containerized configuration: lower building and installation costs Perfectly adapted to green field environment. • High efficiency: < 4.9 kWh / Nm3 • High-pressure: 30 bar, no need for further compression stage • Modular technology (standardization and replicability): 1 / 4 / 20 / 100+ MW • Compact footprint: 20 MW installed in less than 900 m2 • Highest quality & safety sta