NHOA announces the results of its c.€250 million Rights Issue

Regulatory News:

NHOA (NHOA.PA, formerly Engie EPS, “NHOA” or the “Company”) announces today the results of its capital increase with shareholders’ preferential subscription rights (the “Rights”) with the subscription period running from September 1, 2023 to September 12, 2023 (the “Rights Issue”).

The Rights Issue was conducted by 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 the net proceeds of the Rights Issue to further boost its business model of technology provider, 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 second cut-off of the CEF 2 Transport – Alternative Fuel Infrastructure Facility (AFIF) and to the c.€70 million to be received from the European Commission under the fourth cut-off of the CEF 2 Transport – Alternative Fuel Infrastructure Facility and from Groupe Caisse des Dépôts as announced on September 11, 2023;
  • up to c. €50 million to finance the development and structure costs 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: