SFC Energy AG / DE0007568578

Operating performance in Q3/2025 in line with expectations Group sales in the first nine months of 2025 EUR 102,709 thousand (9M/2024: EUR 105,190 thousand), slightly down on the previous year Adjusted EBITDA of EUR 10,800 thousand (9M/2024: EUR 18,230 thousand); adjusted EBITDA margin of 10.5% (9M/2024: 17.3%) Adjusted EBIT of EUR 5,018 thousand (9M/2024: EUR 13,704 thousand); adjusted EBIT margin of 4.9% (9M/2024: 13.0%) Cost-optimisation measures are taking effect: IT and ERP investments have been gradually returning to normal since Q3/2025 Full-year forecast for 2025 now more precise: sales expected at the lower end of the corridor; adjusted EBITDA and adjusted EBIT in the lower half of their respective corridors Brunnthal/Munich, Germany, 18 November 2025 – SFC Energy AG (“SFC”, F3C:DE, ISIN: DE0007568578), a leading supplier of fuel cells for stationary, portable and mobile hybrid power solutions, today published its nine-month report for 2025. Report by the Management Board Dr Peter Podesser, CEO of SFC Energy AG: “Our performance in the third quarter matched our expectations and confirms the full-year forecast that we adjusted in July. As anticipated, the pace of growth slowed, particularly due to a temporarily weaker defense business in India and restrained demand from new customers, especially in the United States. Independent of these negative influencing factors, we continue to see stable growth in the industrial fuel cell business, particularly in civil security, which is currently growing by around 15%. Nevertheless, the market environment remains challenging, and delayed government procurement processes, especially in India, organic growth in the United States that was stable in principle but at 28,7% (currency-adjusted) below historical growth rates and expectations for the current year, unfavourable exchange rate developments (Canada, United States and India) continued to weigh on sales and earnings. At the same time, the measures taken to optimise costs are showing initial effects: after the heavy IT and ERP investments in the first half of the year, operating expenses and functional costs have been gradually returning to normal since the third quarter. The gross margin was mainly influenced by lower sales and exchange rate effects. Despite the challenging environment, we were able to boost order intake significantly in the third quarter compared to the first two quarters. This provides us with a solid basis for a strong fourth quarter that will put us back on our growth trajectory. We also expect an improved product mix with a higher proportion of defense business. Overall, our activities in the public and civil security sector account for around 47% of Group sales on an annual basis. This area remains an essential stabilizing factor. With the acquisition of a stake in Oneberry Technologies in the fourth quarter, we have additionally broadened our regional footprint in Asia. The closing process is in the final phase. This transaction not only widens our international base but also opens up a high-margin 'security-as-a-service' business model for us. The ramp-up of our new production facility in the United States is also proceeding according to plan and is consistently strengthening our 'local-for-local' strategy, with which we are reducing our exposure to import tariffs, currency risks and supply chain dependencies on a sustained basis. The combination of more stable demand in our core markets, clear cost control and an increasingly balanced regional footprint is enhancing our planning visibility, providing a solid foundation for the expected next phase of growth from 2026 onwards.” Sales and orders In the period from 1 January to 30 September 2025, the SFC Energy Group recorded sales of EUR 102,709 thousand (9M/2024: EUR 105,190 thousand).

Sales by segment in EUR thousand	9M/2025	9M/2024
Clean Energy	71,539	73,385
Clean Power Management	31,170	31,805
Total	102,709	105,190

Order intake totalled EUR 78,408 thousand in the reporting period (H1/2025: EUR 43,665 thousand), thus increasing substantially by EUR 34,634 thousand in the third quarter compared to the previous quarters. The order backlog was valued at EUR 79,255 thousand as of 30 September 2025 (31 December 2024: EUR 104,583 thousand). Segment performance In the first nine months of 2025, the Clean Energy segment generated sales of EUR 71,539 thousand (9M/2024: EUR 73,385 thousand). This 2.5% year-on-year decline continued to reflect the weaker exchange rates of the US dollar, the Canadian dollar and the Indian rupee against the euro, as well as the postponement of large orders in India in the core target market of defense and public security. One key growth driver was business in fuel cell solutions for industrial applications, particularly in the core target markets of security technology/video surveillance and data transmission and digitalisation, which expanded by around 10.8%. The segment’s share of Group sales was virtually unchanged at 69.7% in the reporting period (9M/2024: 69.8%). Accordingly, the share in Group sales attributable to the Clean Power Management segment stood at 30.3% (9M/2024: 30.2%). Segment sales declined by 2.0% to EUR 31,170 thousand in the nine-month period, down from EUR 31,805 thousand in the previous year, as business in the upstream oil and gas industry was lower. Earnings The decline in Group sales was also reflected in gross profit, which contracted by EUR 2,445 thousand or 5.6% to EUR 41,500 thousand in the first nine months of 2025 (9M/2024: EUR 43,945 thousand). This translated into a gross profit margin for the Group (gross profit as a percentage of sales) of 40.4% (9M/2024: 41.8%). In the Clean Energy segment, the gross profit margin came to 45.1% (9M/2024: 48.2%), widening to 29.7% in the Clean Power Management segment (9M/2024: 26.9%). Gross profit for the individual segments compared to the previous year is as follows:

Gross profit by segment in EUR thousand	9M/2025	9M/2024
Clean Energy	32,233	35,392
Clean Power Management	9,267	8,553
Total	41,500	43,945

EBITDA adjusted for non-recurring effects came to EUR 10,800 thousand in the reporting period (9M/2024: EUR 18,230 thousand). In addition to lower sales, this decline was primarily due to higher general administrative expenses and a significant increase in other operating expenses, which were mainly attributable to unfavourable exchange rate developments. The adjusted EBITDA margin consequently stood at 10.5% (9M/2024: 17.3%). EBIT adjusted for non-recurring effects fell to EUR 5,018 thousand (9M/2024: EUR 13,704 thousand), yielding a margin of 4.9% (9M/2024: 13.0%). The reporting period closed with a consolidated net result for the period of EUR -1,215 thousand (9M/2024: EUR 8,156 thousand) as a result of the lower operating earnings. Basic and diluted earnings per share in accordance with IFRS came to EUR -0.06 (9M/2024: EUR 0.45 and EUR 0.43, respectively). Statement of financial position and employee development At 73.5% as of 30 September 2025, the equity ratio remained solid, slightly exceeding the figure for 2024 (71.7%). The net financial position (freely available cash and cash equivalents less liabilities to banks) stood at EUR 37,606 thousand as of 30 September 2025 (31 December 2024: EUR 56,359 thousand). The decline particularly reflected the increase in net working capital with a corresponding impact on liquidity. As of 30 September 2025, the SFC Energy Group had 502 permanent employees (31 December 2024: 470). Forecast for 2025 On the basis of the Group’s business performance to date, the current order backlog and the persistently challenging macroeconomic conditions, the Management Board has refined the forecast that it revised on 31 July 2025 and expects sales at the lower end of the target corridor of EUR 146.5 million to EUR 161.0 million for 2025. Adjusted EBITDA is expected to come within a range in the lower half of the previously stated corridor of EUR 13.0 million to EUR 19.0 million. The forecast for adjusted EBIT has now also been refined. This figure should fall within a range in the lower half of the previously stated corridor of EUR 5.0 million to EUR 11.0 million. The forecast factors in the ongoing uncertainties in key target markets, delays in international contract awards, particularly for defense and public security, as well as risks of exchange rate developments and increased commodity prices. At the same time, the Management Board expects a noticeable improvement in the fourth quarter of 2025 compared to the second and third quarters. The medium and long-term outlook remains unchanged: with its technological strength, solid financial position, international footprint and ongoing efficiency measures, SFC Energy remains well positioned to achieve its long-term strategic goals. Key figures 9M 2025/9M 2024

EUR thousands	1 Jan. – 30 Sept. 2025	1 Jan. – 30 Sept. 2024
Sales	102,709	105,190
Gross profit	41,500	43,945
Gross margin	40.4%	41.8%
EBITDA	6,843	15,468
EBITDA margin	6.7%	14.7%
Adjusted EBITDA	10,800	18,230
Adjusted EBITDA margin	10.5%	17.3%
EBIT	1,061	10,942
EBIT margin	1.0%	10.4%
Adjusted EBIT	5,018	13,704
Adjusted EBIT margin	4.9%	13.0%
Consolidated net result for the period	-1,215	8,156
Order backlog*	79,255	104,583

* As of 30 September 2025/31 December 2024 Detailed financial information and conference call today, 18 November 2025 SFC Energy AG’s report on the first nine months of 2025 is available at www.sfc.com. SFC Energy AG will be holding a conference call in English for interested investors and members of the press at 9.00 a.m. today, 18 November 2025. To take part in the conference call, please register here: https://services.choruscall.it/DiamondPassRegistration/register?confirmationNumber=9572569&linkSecurityString=171c3c6559 In addition, the Management Board of SFC Energy will be holding a presentation at 1:30 p.m. on 24 November 2025 during Deutsches Eigenkapitalforum. To register, please use the following link: Registration for Deutsches Eigenkapitalforum 2025

About SFC Energy AG
SFC Energy AG is an international technology leader, providing reliable energy for critical infrastructure and applications beyond the grid. Focusing on resilient energy and power management solutions, the company serves high-growth markets in security, defense, infrastructure, IT and high-tech industrial equipment. As a pioneer in fuel cell technology, SFC Energy offers innovative hybrid energy systems and high-precision power management solutions for stationary and portable applications worldwide. The company’s products are engineered to provide energy-efficient solutions, delivering optimized total cost of ownership (TCO) across its two strategic business segments as: Clean Energy and Clean Power Management. Headquartered in Brunnthal near Munich, Germany, SFC Energy has international subsidiaries in Canada, Denmark, India, the Netherlands, Romania, the United Kingdom, and the United States of America. Its international presence enables close proximity to core target markets and customers worldwide. SFC Energy AG is listed in the Prime Standard segment of the Frankfurt Stock Exchange and has been part of the selection index SDAX since 2022 (GSIN: 756857, ISIN: DE0007568578). www.sfc.com

SFC Energy IR and press contact:
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Susan Hoffmeister
Phone +49 89 125 09 03-33
Email: susan.hoffmeister@sfc.com
Web: sfc.com * * * This corporate news may contain certain forward-looking statements, estimates, opinions and projections regarding the future development of the company (“forward-looking statements”). Forward-looking statements can be recognised by terms such as “assume”, “plan”, “anticipate”, “expect”, “intend”, “will” or “should” as well as their negation and similar variants or comparable terminology. Forward-looking statements include all matters that are not based on historical facts. They are based on the current opinions, forecasts and assumptions of the Management Board of SFC Energy AG and involve substantial known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Forward-looking statements should not be read as guarantees of future performance or results and are not necessarily reliable indicators of whether or not such results will be achieved. All forward-looking statements contained in this corporate news apply only as of the date of this release. The company will not update or revise the information, forward-looking statements or conclusions contained in this corporate news to reflect any subsequent events, circumstances or inaccuracies that may arise after the date of this corporate news as a result of new information, future developments or otherwise, and assumes no obligation to do so. We provide no guarantee whatsoever that the forward-looking statements or assumptions contained herein will materialise.