THE GROUP ENTERS A NEW PHASE OF GROWTH THANKS TO THE GRANTING OF THE FIRST AUTHORIZATIONS AND THE LAUNCH OF PREPARATORY ACTIVITIES FOR THE TENDER SALE OF ADVANCED BESS PROJECTS

• Production Value of €16.1 million, up from €15.9 million as of June 30, 2025
• EBITDA of €11.3 million, up 8.76% from €10.4 million as of June 30, 2025, with an EBITDA margin of 70.3%
• EBIT of €10.5 million, up more than 9% from €9.6 million as of June 30, 2025
• Consolidated net income amounted to 6.8 million euros, up 14%

THESE RESULTS CONFIRM THE WISDOM OF THE GROUP'S STRATEGIC DECISIONS TO FOCUS ON INFRASTRUCTURE DEVELOPMENT IN ITALY

Below is the press release, available in PDF format (in italian).

Milan, September 28 2026

The Board of Directors of Redelfi S.p.A. ("Redelfi" or the "Company"), the parent company of the industrial group of the same name with its operational headquarters in Genoa-engaged in the development of innovative and sustainable infrastructure to support the energy transition, and listed on the Euronext Growth Milan segment of Borsa Italiana-today approved the consolidated half-year financial report as of June 30, 2026, which was voluntarily submitted for audit.

Davide Sommariva, Chairman of the Board of Redelfi S.p.A., commented: "The first-half results, which show an improvement compared to the same period last year, confirm the soundness of the path we have taken and the validity of our strategic choice to focus our development on a market with great growth potential, such as the Italian market. The Group is now entering a new phase of its growth: obtaining the first authorizations and launching the competitive sales process mark the gradual transition from development to the economic monetization of the BESS pipeline. After years dedicated to creating the projects in our pipeline, we are now preparing to transform the industrial value created into significant cash flows, providing concrete evidence of our business model's potential and continuing to generate value for our shareholders. ".

CONSOLIDATED FINANCIAL RESULTS AS OF JUNE 30, 2026

The financial results for the first half of 2026 show an improvement compared to the previous fiscal year and are in line with the guidance set out in the Business Plan disclosed to the market in December 2023 ("2023-2026 Business Plan"). This increase reflects the strategic decisions undertaken by the Group aimed at focusing its resources on the development of strategic infrastructure throughout Italy.

Production Value amounted to 16.1 million euros, up compared to June 30, 2025. This result is primarily attributable to the development of BESS projects in Italy.

EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) amounted to 11.3 million euros, with an EBITDA margin of 70.3%, up compared to June 30, 2025 (10.4 million euros; EBITDA margin +4.9%). The increase primarily reflects the gradual implementation and monetization of projects developed in previous fiscal years, which have reached a stage of maturity sufficient to generate a growing economic contribution. The profitability generated by initiatives that have entered the most advanced stages of the development cycle more than offset the increase in overhead costs incurred by the Group to support business growth and organizational strengthening, highlighting the operating leverage associated with the progressive maturation of the pipeline.

EBIT amounted to 10.5 million euros (9.6 million euros as of June 30, 2025) after depreciation, amortization, and provisions totaling 0.8 million euros, resulting in an EBIT margin of 65.34%. The increase is closely linked to the growth in EBITDA.

Consolidated net income amounted to 6.8 million euros (of which 5.9 million euros attributable to the Group). The change in net income compared to the same period of the previous fiscal year was approximately 0.8 million euros. The increase is closely linked to the growth in EBIT.

The net financial position is 18.7 million euros (cash negative). The effects for the period are primarily related to cash outflows associated with period expenses (approximately 5.6 million euros)

Net Financial Position (NFP) is higher than the guidance provided in the 2023-2026 Business Plan; this discrepancy is primarily due to : i) the recognition of the GPA earn-out in the amount of 11.2 million euros, which was projected in the 2023-2026 Business Plan to occur after 2026 but instead occurred in 2025; ii) a capital increase and the exercise of the 2023-2025 warrants totaling 9 million euros; iii) the lack of proceeds from the sale of projects in the United States, resulting from the strategic decision to focus on the Italian market; iv) the decision to postpone the receipt of proceeds related to the valuation of the Bright Storage Pipeline compared to the originally planned timeline, in light of the launch of a competitive bidding process..

SIGNIFICANT EVENTS THAT OCCURRED DURING THE FIRST HALF OF 2026

With regard to significant events that occurred during the fiscal year, the following should be noted:

• On January 29, 2026, Redelfi announced its entry into the data center development market, leveraging its know-how regarding national connections across the board and thereby enabling industrial synergy with the BESS market;

• On February 13, 2026, the Company announced its strategic decision to divest its U.S. subsidiaries in the near future and to focus its resources and investments on development within Italy;

• On June 23, 2026, the subsidiary Bright Storage appointed advisors to oversee the sale process, which involves the divestiture of its most advanced BESS projects;

• On June 25, 2026, Redelfi announced a framework agreement with the Chinese multinational Hyperstrong, concerning a commercial offer for the supply of 1 GW of batteries, aimed at the sale of BESS projects initiated by Bright Storage

SIGNIFICANT EVENTS AFTER JUNE 30, 2026

In the period following the end of the first half of the year, the Company recorded significant events both in terms of its financial profile and with regard to the progress of its development activities. Specifically

• · In July, Redelfi was selected among the 100 companies listed on Borsa Italiana that make up the Intermonte "Valore Italia" Index, dedicated to Italian SMEs with a market capitalization of less than 1 billion euros. The selection of companies for the Index is based on technical and financial criteria, including, among others, minimum free-float levels, governance standards, analyst coverage, financial sustainability, and investability. The Index also serves as the benchmark for the "PMI2Change" project promoted by Banca Generali. Redelfi's inclusion thus represents further recognition of the Group's growth trajectory and may help enhance its visibility among institutional and retail investors and, more broadly, the Company's positioning in the capital markets.

• · In September, MASE issued, via Decree No. 229/2026, the Single Authorization for the construction of the "Cumiana" BESS project with a total capacity of 267.84 MW. This achievement marks the first project in the Bright Storage pipeline to have successfully completed the relevant authorization process. Obtaining the Single Authorization constitutes a particularly significant step in the process of maturing and progressively de-risking the pipeline, as it allows the project to move forward toward the subsequent phases of development and implementation and, at the same time, represents the first concrete evidence of the Group's ability to support large-scale BESS initiatives throughout the entire regulatory approval process.

Taken together, these events represent two distinct yet complementary elements of the Group's progress: i) the strengthening of Redelfi's visibility and positioning in the capital markets; ii) the achievement of a first significant development milestone that attests to the progressive transformation of the BESS pipeline from a portfolio under development to a portfolio of mature assets with concrete development potential.

OUTLOOK FOR OPERATIONS

The Redelfi Group will continue to focus its activities on the development and optimization of its BESS project pipelines, with particular emphasis on advancing the permitting processes and on commercial activities supporting the sale of the SPVs that own the relevant projects..

In this context, with regard to the Bright Storage pipeline, the Group is progressively supplementing its traditional development activities with a greater focus on structuring and managing the sale of the projects in the pipeline. In particular, as part of the preparatory activities for the competitive bidding process, Redelfi is engaged in evaluating and negotiating commercial agreements with leading suppliers, aimed at optimizing investment costs for the future buyer and strengthening the project's economic and financial sustainability

Furthermore, Redelfi is working to finalize commercial agreements regarding the future revenues of the various projects, thereby enhancing their visibility for the potential buyer. These activities represent an evolution of the Group's operating model, which is currently entering a new phase by progressively integrating, alongside its BESS development expertise, a greater presence in the commercial structuring and management of asset monetization transactions.

At the same time, activities aimed at obtaining the Single Authorizations for the BESS projects will continue. The Bright Storage Pipeline and the Redelfi 1 Pipeline have reached an advanced stage of development; the Group will therefore continue the activities necessary for their development and the related divestiture processes. At the same time, technical and engineering activities will continue to focus on the Redelfi 2 Pipeline, as well as new origination activities, with the aim of ensuring continuity in the generation and development of new BESS projects in the Italian market.

Finally, with regard to the data center sector, Redelfi will continue to develop and originate new initiatives, in line with the path the Group embarked upon at the beginning of the year, while maintaining a selective approach in evaluating investment and development opportunities.

DOCUMENTATION

The Semi-Annual Report as of June 30, 2026, will be made available to the public in accordance with the terms and procedures set forth in the Euronext Growth Milan Issuers' Regulations, on the website https://www.redelfi.com, under the Investor Relations > Financial Statements and Reports section, as well as on the website https://www.borsaitaliana.it, under the Shares> Documents section

This press release is available on the website www.redelfi.com, in the Investor Relations>Press Releases, and on www.1info.it.

***

Redelfi is the parent company of the Industrial Group, which operates in the field of energy transition through the development of strategic infrastructure-primarily Battery Energy Storage Systems-using a highly innovative approach and placing a strong emphasis on compliance with ESG principles in corporate management. In fiscal year 2025, the Group generated a production value of €27 million and a net profit of €5.2 million. EBITDA amounted to €15.7 million. The pro-forma net financial position is cash negative by €15 million, and shareholders' equity stands at €45 million.

Contacts:

ISSUER

Redelfi | Investor Relations Manager | Erika Padoan | [email protected] | T: +39 320 7954739 | Piazza Borgo Pila, 39, Torre B, 16129 Genova

Redelfi | Media Relations Manager | Carolina Beretta | [email protected] | Piazza Borgo Pila, 39, Torre B, 16129 Genova

EURONEXT GROWTH ADVISOR

Integrae SIM | [email protected] | T: T: +39 02 80506160 | Piazza Castello, 24 - 20121 Milano

SPECIALIST E CORPORATE BROKER

Banca Finnat Euramerica S.p.A. | [email protected] | T: +39 06 69933 417 | Palazzo Altieri - Piazza del Gesù, 49 - 00186 Rome

Attachments

• Reclassified Consolidated Income Statement as of June 30, 2026 vs. June 30, 2025
• Reclassified Consolidated Balance Sheet as of June 30, 2026 vs. December 31, 2025
• Reclassified Consolidated Net Financial Position as of June 30, 2026 vs. December 31, 2025
• Consolidated Statement of Cash Flows as of June 30, 2026 vs. June 30, 2025

Reclassified Consolidated Income Statemen

Reclassified Consolidated Balance Sheet

Reclassified Consolidated Net Financial Position

Consolidated Statement of Cash Flows