Energy S p A : Annual Financial Report FY2022 approved by Shareholders' Meeting

PRESS RELEASE

SHAREHOLDERS' MEETING OF ENERGY S.P.A. APPROVES 2022

FINANCIAL STATEMENTS

S. Angelo di Piove di Sacco (PD), April 28, 2023 - The Shareholders' Meeting of Energy S.p.A., an integrated energy storage systems producer, listed on the Euronext Growth Milan (EGM) market, the multilateral trading system organised and managed by Borsa Italiana S.p.A., (ISIN Code IT0005500712, Ticker ENY), met today and approved the 2022 financial statements. As required by the "Decreto Cura" Decree, attendance at the Shareholders' meeting was exclusively through the designated agent Monte Titoli S.p.A. ("Monte Titoli" or the "Designated Agent").

FINANCIAL STATEMENTS AND PROPOSAL FOR THE ALLOCATION OF THE NET PROFIT

The Shareholders' meeting approved the financial statement at December 31, 2022 and the proposal to allocate the net profit.

The financial statements 2022 report:

• Sales revenues: Euro 126.5 million, up 145% on Euro 51.5 million in 2021;
• EBITDA: Euro 32.2 million, compared to Euro 10.4 million in 2021, with a margin of 25.4% (20.2% in 2021);
• Net Profit: Euro 22.6 million, compared to Euro 7.4 million in 2021;
• Net Financial Debt of Euro 8.2 million, compared to Euro 2.9 million at December 31, 2021.

Regarding the allocation of the net profit, the Shareholders' meeting approved the allocation to the legal reserve of Euro 117,876 and to retained earnings for Euro 22,489,774.

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A copy of the fully audited financial statements at December 31, 2022 is available to the public in the manner and within the terms established by law and on the Energy S.p.A. website (www.energysynt.com) in the "Investor Relations/Financial Statements and Reports" section.

The synthetic report on voting results of the shareholders' meeting and the minutes of the Shareholders' meeting will be made available in the manner and within the terms established by law and on the Energy S.p.A.'s website (www.energysynt.com) in the "Governance/Shareholders' meeting" Section.

This press release is available on the Energy S.p.A.'s website at www.energysynt.com, Investor Relations/Press Releases section and on www.emarketstorage.com.

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Energy S.p.A, founded in 2013 by Davide Tinazzi, Andrea Taffurelli and Massimiliano Ghirlanda and listed on the Euronext Growth Milan market of the Italian Stock Exchange, is headquartered in the province of Padua (Italy) and is an energy storage systems for both residential and large-scale applications sector leader. Our systems allow energy to be stored and released according to customers' energy needs. Energy has to date sold and installed more than 53,000 systems across the country, with a focus on the residential, commercial, industrial, Utilities and electric mobility markets. The biggest projects executed include the large-scale plant in Comiso (Sicily), consisting of an agrivoltaic plant and a photovoltaic field, the large-scale plant at the CAAB Centre in Bologna, the Smart Grids at numerous municipalities in Sardinia and Lombardy and a Condominium Energy Community in Switzerland where individual hubs exchange energy as needed. Energy's sales channels include both general electrical distributors and PV specialists, while the company also works with large European EPCs. The proximity of Energy's logistics to the headquarters of major distributors has allowed the company to establish strong partnerships with the Italian and European market players. The company purchases components from major international suppliers and combines them with its "Zero Co2" proprietary software to build EU standard compliant systems. Sales revenues of Euro 126.5 million are reported for 2022.www.energysynt.com