Fourth Quarter Revenue Increased 111% and Gross Profit Expanded 79% Year-over-Year

Company Website: https://www.anaergia.com
BURLINGTON, Ontario -- (Business Wire)

Anaergia Inc. (“Anaergia”, the “Company”, “us”, or “our”) (TSX: ANRG) (OTCQX: ANRGF), reported a significant improvement in financial results for the Fourth Quarter (“Q4 2025”) and Fiscal Year ended December 31, 2025, and the related management’s discussion and analysis (“MD&A”) for the period. All financial results are reported in Canadian dollars unless otherwise stated.

Fourth Quarter and Full Year 2025 Highlights

• Fourth quarter revenue of $71.7 million, an increase of 111% over prior year fourth quarter
• Full year 2025 revenue of $180.2 million, an increase of 61% over prior year
• Fourth quarter gross profit of $16.1 million, an increase of 79% over the prior year fourth quarter
• Full year gross profit of $46.8 million, an increase of 82% over the prior year
• Fourth quarter positive Adjusted EBITDA¹ of $4.2 million, an increase of 166% or $10.5 million, compared to a prior year fourth quarter loss of $(6.3) million
• Full year positive Adjusted EBITDA¹ of $0.6 million, an increase of 102% or $27.5 million, compared to a prior year loss of $(26.9) million
• Year-end 2025 Revenue Backlog increased 149% to $257 million compared to the prior year-end

Management Commentary

“We are pleased to report that Anaergia delivered positive Adjusted EBITDA¹ for the quarter, and also for the full fiscal year ended December 31, 2025. This continues to demonstrate that our shift to a capital‑light model and stronger operational discipline is delivering results,” said Assaf Onn, CEO of Anaergia.

“Revenue more than doubled in the fourth quarter of 2025 on a year-over-year basis, driving a significant lift in profitability and underscoring our leadership in the global biogas sector. In addition, we reduced our Selling, General and Administrative (SG&A) expenses both quarterly and annually, while our Revenue Backlog grew 149% year‑over‑year to $257 million at fiscal year‑end 2025, from $103 million at fiscal year‑end 2024. The large increase in year-over-year revenue, gross profit, Adjusted EBITDA¹ and year-end Revenue Backlog reflects strong global demand for RNG activities and our ability to secure and execute projects with our full turn-key technology offerings.”

“Anaergia’s management team has remained disciplined, executing a comprehensive turnaround plan to streamline operations and rightsize the business. Through relentless focus on efficiency and long-term value creation, these efforts have successfully driven the company to achieve positive Adjusted EBITDA not only in the last two quarters of 2025, but also positive Adjusted EBITDA for the full year 2025. 2025 was a substantial turnaround year, and I would like to recognize our employees for their extraordinary performance in delivering this significant improvement,” Onn added.

Financial Highlights:

• Revenue increased by 111% to $71.7 million in Q4 2025from $34.1 million in Q4 2024. For Fiscal 2025, Revenue increased by 61% to $180.2 million from $111.6 million in Fiscal 2024. These increases were primarily driven by higher sales in Italy and North America.
• Gross Profit increased 79% to $16.1 million in Q4 2025from $9.0 million in Q4 2024. For Fiscal 2025, Gross Profit increased by 82% to $46.8 million from $25.6 million in Fiscal 2024. These increases were mainly driven by our Capital Sales segment.
• Adjusted EBITDA¹ improved 166% to positive $4.2 million in Q4 2025 compared to negative $6.3 million in Q4 2024. For Fiscal 2025, Adjusted EBITDA improved 102% to positive $0.6 million compared to negative $26.9 million in Fiscal 2024. These improvements in Adjusted EBITDA were primarily driven by increases in Revenues and Gross Profits, and by lower SG&A expenses.

For a more detailed discussion of Anaergia’s results for the three-month and twelve-month periods ended December 31, 2025, please see the Company’s financial statements and management’s discussion & analysis, which are available at https://www.anaergia.com/investor-relations and on the Company’s SEDAR+ page at www.sedarplus.ca.

NON-GAAP MEASURES

This press release makes reference to certain non-GAAP measures. These non-GAAP measures are not recognized measures under IFRS® Accounting Standards as issued by the International Accounting Standards Board (“IASB”) (“IFRS Accounting Standards”) and do not have a standardized meaning prescribed by IFRS Accounting Standards and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these non-GAAP measures are provided as additional information to complement IFRS Accounting Standards measures by providing further understanding of our results of operations from management’s perspective. Accordingly, these non-GAAP measures should not be considered in isolation or as a substitute for analysis of our financial information reported under IFRS Accounting Standards. We use non-GAAP measures, including “Adjusted EBITDA”, “EBITDA”, and "Revenue Backlog" to provide investors with supplemental measures. Management also uses non-GAAP measures internally in order to facilitate operating performance comparisons from period to period, prepare annual operating budgets and assess our ability to meet our future debt service, capital expenditure and working capital requirements. Management believes these non-GAAP measures are important supplemental measures of operating performance because they eliminate items that have less bearing on operating performance and highlight trends in the core business that may not otherwise be apparent when relying solely on IFRS Accounting Standards financial measures. Management believes such measures are useful as they allow for assessment of our operating performance and financial condition on a basis that is more consistent and comparable between reporting periods. We also believe that securities analysts, investors and other interested parties frequently use non-GAAP measures in the evaluation of issuers.

Definitions of non-GAAP measures and industry metrics used in this press release are provided below.

“Adjusted EBITDA” is defined as net earnings before finance costs, taxes and depreciation and amortization adjusted for our normalized proportionate interest in our Build-Own-Operate assets and one-time or non-recurring items, stock-based compensation expense, asset impairment charges and write downs, gains and losses for equity-accounted investees, gain or loss on equity method adjustment, significant one-time provisions, foreign exchange gains or losses, restructuring costs, Enterprise Resource Planning customization and configuration costs, litigation and other claims settlements, gains and losses resulting from changes in certain balance sheet valuations (such as derivatives and warrants) and acquisition costs.

“EBITDA” is defined as net income [loss] before finance costs, taxes and depreciation and amortization.

“Revenue Backlog” is defined as the balance of unrecognized, undiscounted, consolidated revenues from signed contracts in our Capital Sales and operation and maintenance services (“O&M Services”) segments. For our Capital Sales contracts, we have modeled only projects that have been contracted. For our O&M Services segment, while most of our in-hand contracts are 5-15 years in tenure, we have conservatively modeled for only 3 years of contracted revenue. See “Reconciliation of Non-IFRS Measures” below for a reconciliation of the foregoing non-IFRS measures to their most directly comparable measures calculated in accordance with IFRS.

Conference Call and Webcast Details

A conference call to review the Company’s financial results will take place at 10:00 a.m. (EDT) on Thursday March 26, 2026. It will be hosted by management of Anaergia. An accompanying slide presentation will be posted to the Investor Relations section of the Company’s website shortly before the call.

To listen to the webcast live: https://events.q4inc.com/attendee/838906175

For analysts and shareholders Q&A registration: https://events.q4inc.com/analyst/838906175?pwd=35iQ0lRR

The webcast will be archived and available in the Investor Relations section of our website following the call.

About Anaergia

Anaergia is a pioneering technology company in the RNG sector, with hundreds of patents dedicated to converting organic waste into sustainable solutions such as RNG, fertilizer, and water. It is committed to addressing a significant source of greenhouse gas (GHG) emissions through cost-effective processes. Our proprietary technologies, combined with our engineering expertise and vast experience in facility design, construction, and operation, position Anaergia as a leader in the RNG industry. With a proven track record of delivering hundreds of innovative projects over the past decade, we are well-equipped to tackle today’s critical resource recovery challenges through diverse project delivery methods. As one of the few companies worldwide offering an integrated portfolio of end-to-end solutions, we effectively combine solid waste processing, wastewater treatment, organics recovery, high-efficiency anaerobic digestion, and biomethane production. Additionally, we operate RNG facilities owned by us, by third parties, or through joint ventures. This comprehensive approach not only reduces environmental impact but also significantly lowers costs associated with waste and wastewater treatment while mitigating GHG emissions.

For further information please see: www.anaergia.com

Forward-Looking Statements

This press release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information may relate to future plans, expectations and intentions, results, levels of activity, performance, goals or achievements, other future events or developments and may include, without limitation, information regarding our financial position, business strategy, growth strategy, budgets, operations, financial results, taxes, plans and objectives. Particularly, information regarding our future results, performance, achievements, prospects or opportunities or the markets in which we operate is forward-looking information. In some cases, forward-looking information can be identified by the use of forward-looking terminology such as “may”, “will”, “would”, “should”, “could”, “expects”, “plans”, “intends”, “estimate”, “believes”, “likely”, “potential”, “continue”, or “future” or the negative or other variations of these words or other comparable words or phrases. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not facts but instead represent management’s expectations, estimates and projections regarding future events or circumstances. Forward-looking statements in this press release include, among other things, statements relating to financial condition and results of operations; Company’s strategic transition to a capital-light model; and statements regarding the Company’s Revenue Backlog and potential future sales.

Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that we considered appropriate and reasonable as of the date such statements were made. It is also subject to known and unknown risks, uncertainties, assumptions and other factors that may cause our actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the risk factors described in the Company’s annual information form and management’s discussion and analysis for the year ended December 31, 2025. Certain assumptions in respect of our ability to execute on our expansion plans; our ability to obtain or maintain existing financing on acceptable terms; and our ability to realize the anticipated benefits of such are material factors underlying forward looking information and management’s expectations. The purpose of the forward-looking statements in this press release is to provide the reader with a description of management’s current expectations regarding the Company’s financial performance and may not be appropriate for other purposes. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information, which speaks only to opinions, estimates and assumptions as of the date made. Furthermore, unless otherwise stated, the forward-looking statements contained in this press release are made as of the date of this press release, and we have no intention and undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

Reconciliation of Non-GAAP Measures

(In thousands of Canadian dollars)

View source version on businesswire.com: https://www.businesswire.com/news/home/20260325947483/en/

Contacts:

For media and/or investor relations please contact: IR@Anaergia.com

Source: Anaergia Inc.