Gelion plc

Good morning and welcome to the July NPLC investor presentation. Throughout this recorded presentation, investors will be in listen-only mode. Questions are encouraged and could be submitted at any time by the Q&A tab situated on the right-hand corner of your screen. Simply type in your questions and press send. The company may not be in a position to answer every question it receives during the meeting itself. However, the company can review all questions submitted today and publish responses where it's appropriate to do so. Before we begin, I'd like to submit the following poll. I'd now like to hand you over to John Wood, CEO. Good morning, sir.

Good morning. It's a honor to be able to take this opportunity to give you this update at this very important and exciting time for July and your company. First of all, I would draw attention to our disclaimer here. Our lawyers say hello. Look, companies are about people. That's where I wanted to start here. It's a little snapshot of some of the people. It's only part of my leadership team here, but on my roadshows and my updates with July and of course today, we had our CFO, Amit Gupta with me, who is doing an absolutely outstanding job. Amit, thank you for your work. Also on the road shows along the way, a lot of you have met Louis Adrianson, our CTO. Adrian Omigas, who's our President of Julyen UK and Europe, has been out to meet shareholders with me. And over on the far right corner, introducing Mr. Tracy Sizemore, who's our Senior Vice President of Global Partnerships. Now, there's some little... Up in the top right corner, you'll notice that Tracy is saying hello from the USA. We'll talk about that a little bit later on in the presentation. We're blessed with an extraordinary panel of technology advisors. Our very own founder, Professor Thomas Nashmeyer, regarded as one of the top 15 chemists on the planet. The remarkable Professor Marcus Antonietti, the director of the Max Planck Institute of Colloids and Interfaces, and Germany's most cited chemist and most cited material scientist, and most recently, Professor Hazana, to be able to invite Professor Rashid Yazami to join our advisory as well. Famous across the battery industry, one of the pioneers of lithium ion technology when Professor Rashid Yazami did his seminar work on the methods for intercalation of lithium into graphite. Again, you'll see where that fits into your company in perspective as we advance through this presentation. Okay, who are we and what are we doing? Look, Julyan Vesolfa Battery Company is targeting the cap loads market, which is projected to be $132 billion in 2032. And we're following a path that's followed in a way that we're going after that. This is a very big price, very important. We want to move quickly to establish leadership. So the way we're doing that is we're working very hard on global collaborations. Now, there's a couple of our corporate collaborations you can see at the top there with TDK and Kinetic. We also... are working very hard on technology collaborations. And so three that we're highlighting here is our partnership with the University of Sydney, Professor Thomas Mashmar, and work with Oxford in the UK. And of course, the Model U collaboration with the Max Planck Institute of Colloids and Interfaces. Underneath that, you can see government collaborations. Big call out for ARENA, absolutely in our corner. Thank you very much for the recent extension. The Advanced Propulsion Centre in the UK and the Faraday Institution, both of who have been sore supporters of this campaign. We are really very grateful to our government partners, our academic partners and our commercial partners And of course the other thing we're doing is we're building a strong pattern network as we go. We're building a strong core of technology. A little strategy update for you. A little talk about the market opportunity. Your company has three operating divisions. We are Julyan, the sulphur battery company. That is our primary businesses where a lot of the excitement is about what we're doing right now. We also have an integrated solutions division and a recycling division. Everybody in your company are hitting their straps, working really hard on performance. We're going to start with our sulphur business. We have an ambitious goal. We want to establish sulfur cathode material, our sulfur cathode material, as an alternate to the incumbent LFP and NMC technologies. That is a huge and important market opportunity. So that you can put it in perspective today, the market for cathode materials is about $44 billion. is growing to 132 by 2032, and it is serviced principally by two chemistries, that's LFP and NMC. Your company, Gelion, is working to provide an alternative to those chemistries, and that's the sulphur cathode material. How are we doing that? Well, you can see on this picture, the picture on the left is actually our material. We call that nanoencapsulated sulfur, NES. So LFP, NMC, and NES. So that material, and the way that we are approaching the introduction of that material globally, is towards it becoming a drop-in. So, what you'll see in the picture in the middle, that actually is a sheet of cathode material which is using our NES Sulfur Cathode Powder. On the right, you see a sheet that looks somewhat like it, but that sheet on the right is either NMC or LFP. So you can see what the company is trying to do is to change one thing and to minimise variation in the production process. And basically we're replacing expensive toxic critical minerals with simple sulphur. Now, how do we go about doing that? Sulphur has always had the enormous potential to be an important battery chemistry in the cathode, and that is because it is the lightest material. Sorry, the lightest material. A very light material. It means that we can make very highly energy-dense batteries, lots of energy for weight, and it had a few obstacles, a few things that were holding it back Foremost amongst that was what's called polysulphide shuttle, and the nanoencapsulated sulphur technology that we use eliminates polysulphide shuttle. Also, sulphur has been held back by power characteristics. We support very high power. It's very low cost. We're supporting and testing against a very wide temperature range. The material intrinsically has low expansion and contraction characteristics. Now that's very important when you start to consider the cell types that you make from the material. It's important in liquid electrolyte cells, but very, very important in solid electrolyte cells. And one thing very important about this technology is that it also retains a very high sulphur percentage. So it's actually the sulphur that's doing the energy storage. And so by maintaining that high sulphur percentage, that means that as well as having high power, light temperature range, low cost, we've got very high energy density. I want to touch for a little bit just on the two other business units. So firstly, our integration division. Very proud of what the team is doing there. You can see on the right the first of their systems that they've commissioned. That was the group energy project operating very, very soundly. We've got a roadshow and that site is being are shown in March 2026 as part of a major conference down in Australia. The team has built a substantial pipeline, which is between the identifying project and the proposal stage, but it is a long sales cycle business, so we're not projecting revenue from this business in 2026. Instead, what we're working towards is maturing our pipeline and building that out in 2027. The recycling group and a call out to young Jake and team who are building battery minerals. These guys are knocking it out of the park at the moment, doing an excellent job. What do we do with this? This is technology that we acquired from Johnson Matthew when we acquired the Oxus Sulfur portfolio. So this team has established their UK testing facility in London. They've validated their technology at bench-time scale and they're now scaling it to large volumes and validating the unit of economics. This is an independent business building inside of Gelion and creating value in its own right. They have done a great job of coming up with their techno-commercial proposition. Basically, when you recycle lithium batteries, you end up with a black mass, this material called a black mass, which is all of the materials that are in the battery all sort of mix up. Now, that's a hazardous material. There are shipping regulations coming in around what you can do with that material. What this team does is to extract from the material the lithium, and by extracting the lithium, they also extract the fluorine at the same time, They result in an outcome that is more valuable to the shredder who's producing the black mass and they produce a material, an alloy, that is safe to ship. So a solid business model being developed by our team here and great work on the technology. Watch this space around what is happening with battery minerals. Okay, status update for our businesses. We committed we would deliver our cathode-active materials to our partners to commence the pout cell manufacturing. And indeed, we have done that. Our nano-encapsulated cathode-active material has been supplied to TDK, and our Gen 3 has gone to Kinetic, and that's being put into pout cell prototypes at the moment. We expanded our advisory panel by adding Professor Yazami, We have said that we'll be expanding into the US and there are very active discussions progressing there and with multiple global partners around a range of applications and geographies right now. We said that we'd advance our innovation solutions pipeline and there's progress being made on that pipeline continuously. strengthen our balance sheet. Thank you very much to all the investors that joined us and those who were existing investors that contributed into our round in November 2025, which strengthened our balance sheet and brought on some large institutional funds to join our journey. We are delivering on our technological commitments as well. So we said that we'd commence our power cell prototyping with partners. Indeed, TDK has successfully manufactured the initial nanoencapsulated cell for the power cells, and the results are in line with our expectations. The first Gen 3 power cell has been manufactured by Kinetic and now we're transferring the capability to support the nanoencapsulated sulphur between our Australian team and our UK team so that they can support Kinetic to prototype using our nanoencapsulated sulphur. We said we'd scale up our CAM in 2026. Thank you very much, ARENA, coming back and supporting us again. So we've extended the ARENA project budget from 4.8 million pounds up to 5.3. Of course, that's shared funding and focused and extended our project scope to support what we're doing with our sulfur camp fabrication. ARENA's support also has allowed us to bring online our ACPC and that will be leading to our ability to produce and prepare specification sheets for the material. We said that we would achieve our target aerial capacity and we've achieved that milestone as well. So we're very pleased that our crew has managed to scale our materials. from the original 1.5Q all the way to 4Q, 4Q being the critical milestone for, that's the size or the density that we'll be using for our commercial high energy density sulphur cafes. Continuing to file patents, including around the nanoencapsulated sulphur, and we said that we'd validate the recycling technology at benchmark, a benchtop scale, and that has been achieved. delivering on our commercial commitments and on our technological commitments. I'd like to pass to Amit now, who will update on the financial results.

Thank you, John. Apologies, everyone. I'm having technical issues, so I have to switch off my camera so I can be heard properly. On this slide, let me start with where we are today financially. I think the underlying message on this slide is all the co-finance rates are improving and continue to improve over the last few periods. You will total income increase slightly modestly from 0.4 million to 0.5 million. This is the higher grant income from the ARM D4 program by APC in the UK and the ARENA grant program. continue to decrease over the period. So in FY204, our adjusted EBITDA loss was 2.9 million, which has now decreased to 2.4 million. This is a reflection of us trying our best to access non-dilutive grant as much as possible and continue to reduce our operating cost. For grant income, I want to emphasize how important grant income is. They're just not a means of getting non-dilutive capital. they are approval a stamp of approval UK governments when these grant a lot of diligence that goes into it and if you're successful you get these grant income so this is a technical stamp of approval from the Australian and the UK government saying what we are doing there is a lot of confidence from that we are on the right track it also allows us to work with quality partners like Kinect