Launch of c. €250 Million Rights Issue to Support NHOA’s Growth in the Energy Transition Market

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NHOA (NHOA.PA, formerly Engie EPS, “NHOA” or the “Company”) announces today the launch and the terms of its capital increase with shareholders’ preferential subscription rights for a gross amount of c. €250 million (the “Right Issue”), with Deutsche Bank acting as Sole Global Coordinator and Joint Bookrunner together with Société Générale acting as Co-Global Coordinator and Joint Bookrunner.

NHOA intends to use net proceeds (estimated at €243 million) to further boost its business model of technology provider and owner and operator of strategic assets enabling the global transition towards clean energy and sustainable mobility, as well as financing the Company's going concern. More specifically, the proceeds of the rights issue will be used as follows:

• Up to c. €170 million for the development, ownership and operation of EV charging stations and energy storage systems in order to enable Atlante to maintain its current fast track pace of development and to reach its target of 22,000 points of charge by 2030 without additional capital funding (provided that the targets of EBITDA positive from 2025 onwards, enabling bank debt to be raised, and of 30% public financing, to be achieved):
  • up to c. €120 million to fund the roll-out of the investments, including the network of EV charging stations of Atlante across Italy, France, Spain and Portugal, in addition to the €23 million already secured in 2022 from the European Commission in the context of the Connecting Europe Facility;
  • up to c. €50 million to finance the development and structure costs up of Atlante, in particular the commercial development and the development of corporate functions.

• Up to c. €73 million for the development of energy storage systems, as well as enabling the potential equity participation in strategic energy storage projects:
  • up to c. €25 million to fund the working capital needs of the Energy Storage GBL, arising from the backlog of orders and the pipeline of energy storage projects across four continents,
  • up to c. €48 million to finance (i) research & development activities and investment in industrial facilities, in the context of geopolitical trends affecting world trade, and (ii) equity stakes in specific strategic projects (alongside customers and partners), selectively chosen because they implement highly innovative technological solutions developed by NHOA.

In this allocation: