Haydale : Presentation

‌Haydale plc

From an R&D-led organisation

To an advanced materials and clean-technology company

Focused on the development and deployment of energy- and water-efficient

technologies at scale

15-month period ended 30 September 2025

March 2026

‌Presentation Team

Simon Turek Chief Executive Officer

Patrick Carter Chief Financial Officer

‌Agenda

• Structural Reset Completed

• Product & Technology Validation

• Embedded Route to Market (SMCC)

• Revenue Visibility

• Financials & Funding

• Outlook

  ‌Building a scalable national platform for building decarbonisation

  VALIDATED PRODUCT	NATIONAL DELIVERY PLATFORM	CLEAR FINANCIAL TRAJECTORY
  JustHeat commercially validated through trials and early deployments	SMCC acquisition creates partner- funded UK delivery platform	Contracted revenues already cover 100% of H1 FY26 expectations
  Proven performance and manufacturability	Embedded with major banks, utilities and installers	Targeting positive EBITDA within 12 months

  ‌FY25: Strategic Reset - Not a Baseline

• Controlled wind-down of legacy overseas operations (c.80% of FY24 revenue)

• Business refocused on scalable proprietary products, led by

  JustHeat and underpinned by HDPlas® technology

• Continuing operations represent a structurally new revenue base

• FY25 should not be interpreted as a run-rate indicator of

  the enlarged Group

  FY25 closes one chapter. It doesn't define the next one
  
  
  
  

  HDPlas® Plasma Functionalisation reactors at Ammanford

  ‌Reset actions delivered

• Exit from loss-making overseas operations and non-core activities, including divestment of US

  silicon carbide tooling operations

• UK manufacturing consolidated to a single site in Ammanford, Wales (closure of Loughborough facility)

• Run-rate cost base reduced by 69% by period end (full benefit realised late in the period)

• Balance sheet materially de-risked, including removal of overseas leases, pension liabilities and legacy intangibles

• £5.75m gross fundraise completed post-period end alongside conversion of loan notes

  Structural losses removed. Platform rebuilt for scale
  
  ‌Proprietary Technology Platform

• Heating:

  • JustHeat graphene-enabled heating system

  • Underfloor heating products launched

  • Coving and skirting heating products under development

• Cooling:

  • Graphene-enhanced super-efficient thermal transfer fluid in commercial trials

• Advanced Materials:

  • HDPlas® plasma functionalisation platform

  • Toll manufacturing and royalty pathways

    Intellectual property aligned to commercial deployment
    
    
    
    ‌JustHeat - Product Validation

    JustHeat: Commercial Deployment

    JustHeat is Haydale's proprietary solution addressing the

    structural transition to electrified building heating

    
    
    

• Developed from prototype to commercial deployment within

  six months

• Supply-chain robustness and production viability established

• Installation processes validated across multiple deployments

• Production capability established for scalable rollout

• Product risk removed. Focus now on adoption and scale

  Designed for retrofit environments where heat pumps can be

  difficult to deploy

  From top: Manufacturing facility (Essential oils), Snowclearing trials (Montana)

  ‌JustHeat - Market Validation

  Early commercial traction and industry recognition

  Strategic commercial partnerships secured with

  Interfloor and NMC

• Now embedded within SMCC partner-led

  propositions

• National Product of the Year - Energy Efficiency Awards 2025

• Showcased at the Wales Investment Summit

  JustHeat has moved from development to market adoption
  
  
  
  
  
  
  
  
  
  

  From clockwise: Commercial greenhouse (Agri), Screed installation (Yoga studio), Residential garage (Montana), Energy Efficiency Awards 2025

  ‌Why JustHeat Matters

  Heating is the largest decarbonisation challenge in buildings

• Heating is the largest source of building energy consumption

• Millions of buildings must transition away from fossil heating

• Retrofit environments remain difficult for heat pumps

  JustHeat is designed specifically for this retrofit challenge

• Thin-profile electric heating system

• Fast installation and scalable deployment

• Designed for retrofit environments where heat pumps are difficult to deploy

  Now embedded within national partner programmes through the SMCC Impact Partners ‌Structural Inflection: Distribution + Revenue Visibility

  SMCC transforms Haydale's route to market

• Historically Haydale operated primarily as an R&D-led technology provider

• JustHeat was market-ready before national delivery infrastructure existed

• SMCC provides a national sales, programme management and accredited installer network,

  embedded within its Impact Partner Programme with major UK banks and utilities

• Partner-funded acquisition model generates pre-qualified B2B demand at effectively zero marginal customer acquisition cost

• Proprietary Haydale products now positioned to access compliance-driven demand

  SMCC converts Haydale from a technology company into a deployable platform ‌The result: structurally improved revenue visibility

• Contracted revenues already cover >100% of the Board's H1 FY26 expectations

• Partner-led pipeline extends materially into H2 and beyond

• Multi-year Impact Partner programmes underpin repeatable revenue streams

• Development of digital infrastructure and subscription-based commercial models

The Group has transitioned from technology development to commercial deployment ‌SMCC Overview

Survey & Audit

Opportunity Report

Product Specification

Finance Options

Project Management

UK-Wide Installation

Commissioning &

Maintenance

Compliance &

Policies

REAL-TIME CONSUMPTION MEASUREMENT TRACKING & ANALYSIS

WATER SAVING

Eco Showers

Eco Taps & Eco Toilets &

Restrictions Urinals

Rain Water

Harvesting

LED Lighting

HVAC

Controls

ENERGY SAVING

Motor Controls

ENERGY GENERATION & RENEWABLES

Building

Controls

Eco Hand

Dryers

Solar

Renewables

Battery

Storage

EV Charging

END-TO-END SERVICES

SOLUTIONS

One-stop solution for organisations seeking to reduce their energy, water and carbon use

VISION & MISSION

Our promise is in our name

Save our clients money as well as reduce their energy, water and carbon use

WHAT SMCC

DOES

By uniting services, proven products, smart financing and nationwide installation, we make it simpler and faster

Capability from a single online order to delivery of multi site, multi million-pound projects

TRUSTED TO DELIVER BY BLUE-CHIP PARTNERS

Impact Partner Program - existing partnerships provide B2B referrals

BANKS

large organisations with business clients & high-profile net zero goals

UTILITES

pursuing efficiency targets

MANUFACTURERS

needing service wraps

‌Platform enables Impact Partners to refer their B2B clients to us

Impact

ESG Data provided back to the Impact Partner for use in ESG reporting from SaveMoneyCutCarbon Dashboard

Banks and other Impact partners pay us to provide our services to their stakeholders in return for ESG data required for reporting

Examples - Impact Partners 2025

Project

SaveMoneyCutCarbon undertakes projects, using validated major manufacturers and solutions, de-risking any customer investment

Financing

SaveMoneyCutCarbon provides investment grade business cases and feeds back Green Loan opportunities to Impact Partners, or sources financing solutions where the Impact Partner can't

• Supporting their business clients & supply chain

  
  
  
  
  
  
  

  Identification

  Through a Carbon Mentor call or Business Savings Calculator, SaveMoneyCutCarbon builds net zero roadmap, identifies project opportunities and builds financial business case

Referral

Impact Partner provided sustainability hub built by SaveMoneyCutCarbon to stakeholders

• Supporting their business clients focused on Real Estate

  
  
  

• Supporting their business clients focused on Real Estate

• Example of Impact Partner Client Journey - Barclays

- Supporting Manufactures with delivery service wrap

Measured & Verified Savings Example

- Utilities delivering water efficiency targets

14

‌Businesses increasingly seek a single provider for energy, water & carbon savings

Helping our clients save energy and water costs

1

WHY CLIENTS ENGAGE

Energy and water use are substantial, ongoing, and increasing costs of a company's physical footprint

SIMPLIFYING A FRAGMENTED MARKET

Companies struggle with implementing

2 retrofits due to the number of

stakeholders involved and financing challenges

SAVING CLIENTS TIME & MONEY

Execution requires specialised

3 expertise that is outside of companies'

core competencies & restrained by management bandwidth

£ - People

£ - Building

£ - Other OpEx

Energy &

Water Cost

(now a major cost to businesses)

Savings opportunity

Proactively adopting retrofitting

practices, building owners can:

• reduce operating costs

• increase asset value

• retain long-term competitiveness

Consultants Manufacturers

Wholesalers

The market is fragmented and difficult to navigate, so orchestrating retrofits is complex

Engineers

Project Management

Funding Experts

Surveyors

Specifiers

Distributors

Retailers Installers Customer

More service providers

=

More

costs

Existing Supply Chain Model for Enterprise

Installers

Maintenance

Companies are faced with multiple service provider evaluation

‌Integrated Operating Model

A unified platform linking innovation,

products and national delivery

Go-to-Market

• SMCC Impact Partner Programme generating partner-led demand

• National installation network

• Digital marketplace and programme management infrastructure

Platform Acceleration

• Expansion of partner ecosystems and strategic relationships

• Development of product deployment, digital infrastructure and subscription-based commercial models

  Production & Innovation

• HDPlas® graphene functionalisation platform

• Proprietary materials science

  capability

• Intellectual property aligned to commercial deployment

  ‌Value Creation Cycle

  Reset → Product Validation → Embedded Route to Market → Revenue Inflection → Execution

  We are here

  
  
  Product Validation completed
  
  

  Embedded national route to market (SMCC)

  Entering revenue inflection phase

  Business lines at different stages of maturity

  • JustHeat: commercial deployment phase

  • Thermal transfer fluids: commercial trials

  • SMCC platform: national delivery infrastructure

Different stages of maturity. One integrated growth platform ‌Financial Performance 15 months to 30 September 2025

18

‌FY25 Financial Performance

FY25 Reset Year

• Group revenue: £2.51m, reflecting deliberate

  discontinuation of legacy operations

• Continuing operations revenue: £726k

• Continuing gross margin: 63% (Group 57%), demonstrating pricing resilience through restructuring

• Adjusted operating loss: £4.02m, reflecting transitional cost base during reset

• Results exclude any period of SMCC ownership

  These numbers reflect the exit from the old model, not the earnings potential of the new one

  BALANCE SHEET	Sep-25 Audited	Jun-24 Audited	Change
  	£'000	£'000	£'000 %
  Non-current Assets Goodwill & intangibles	827	1,338	(511) -38%
  Tangible fixed assets	690	4,867	(4,177) -86%

  ‌Balance Sheet & funding

  • Net assets: £1.30m post disposals and

    impairment

  • £500k CLN converted post period end

  • £5.75m gross fundraise completed January

    2026 alongside SMCC acquisition

  • Tax losses of £32m (Haydale) plus c. £22m (SMCC) available

  • Existing resources expected to support operations through anticipated EBITDA breakeven (Q1 2027)

    We now have a capital structure that supports execution rather than survival

    Inventories	375	1,670		(1,295)		-78%
    Trade receivables	333	1,088		(755)		-69%
    Other receivables	460	627		(167)		-27%
    Cash	1,680	1,717		(37)		-2%
    	2,848	5,102		(2,254)		-44%
    Current Liabilities
    Trade & other payables	(918)	(2,186)		1,268		58%
    Other current liabilities	(329)	(192)		(137)		-71%
    	(1,247)	(2,378)		1,131		48%
    Non-current Liabilities
    Loans	(1,660)	(1,392)		(268)		-19%
    Pension obligations	-	(304)		304		100%
    Other payables	(155)	(1,558)		1,403		90%
    	(1,815)	(3,254)		1,439		44%
    Total Net Assets	1,303		5,675		(4,372)	-77%

    Current Assets

    1,517 6,205 (4,688) -76%

    20

    ‌Investment Case: Entering the Execution Phase

    1.

Structural reset completed

• Legacy loss-making operations exited

• Cost base materially reduced

• Balance sheet de-risked

  Proprietary products validated

  2.

• JustHeat commercially deployable

• Strategic commercial partnerships secured

• Positioned within regulated retrofit markets

  3.

National delivery platform established

• SMCC provides partner-led demand

  generation

• Installer network and programme infrastructure in place

• Digital infrastructure enabling recurring subscription services

  Improving revenue visibility

  4.

• Contracted revenues already cover >100% of

  H1 FY26 expectations

• Partner-led pipeline extending into H2 and beyond

• Multi-year customer relationships underpin repeatable revenue streams

Execution now drives value creation ‌Thank You

22

‌Haydale HDPlas®

Through engineering innovation, Haydale can use plasma to unlock graphene and other nanomaterials.

The graphene on the left is untreated and does not disperse in water.

The graphene on the right has been functionalised by Haydale and disperses in water.

‌Disclaimer and important notice

The information contained in this document ("Presentation") and the presentation made to you verbally has been prepared by Haydale Plc (the "Company"). Haydale Plc is a UK company quoted on AIM, a market operated by London Stock Exchange plc. This Presentation has not been fully verified and is subject to material updating, revision and further verification and amendment without notice. This Presentation has not been approved by an authorised person in accordance with Section 21 of the Financial Services and Markets Act 2000 (as amended) ("FSMA") and therefore it is being provided for information purposes only.

While the information contained herein has been prepared in good faith, neither the Company nor any of its directors, officers, agents, employees or advisers give, have given or have authority to give, any representations or warranties (express or implied) as to, or in relation to, the accuracy, reliability or completeness of the information in this Presentation, or any revision thereof, or of any other written or oral information made or to be made available to any interested party or its advisers (all such information being referred to as "Information") and liability therefore is expressly disclaimed. Accordingly, neither the Company nor any of its directors, officers, agents, employees or advisers take any responsibility for, or will accept any liability whether direct or indirect, express or implied, contractual, tortious, statutory or otherwise, in respect of, the accuracy or completeness of the Information or for any of the opinions contained herein or for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of this Presentation.

The views of the Company's management/directors and/or its partners set out in this document could ultimately prove to be incorrect. No warranty, express or implied, is given by the presentation of these figures herein and investors should place no reliance on the Company's estimates cited in this document.

This Presentation may contain "forward-looking statements" that involve substantial risks and uncertainties, and actual results and developments may differ materially from those expressed or implied by these statements. These forward-looking statements are statements regarding the Company's intentions, beliefs or current expectations concerning, among other things, the Company's results of operations, performance, financial condition, prospects, growth, strategies and the industry in which the Company operates. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. These forward-looking statements are not guarantees of future performance of the Company and reflect assumptions and subjective judgements by the Company that are difficult to predict, qualify and/or quantify. These forward-looking statements speak only as of the date of this Presentation and the Company does not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date of this Presentation.

This Presentation should not be considered as the giving of investment advice by the Company or any of its directors, officers, agents, employees or advisers. In particular, this Presentation does not constitute or form part of any offer or invitation to subscribe for or purchase any securities and neither this Presentation nor anything contained herein shall form the basis of any contract or commitment whatsoever. No reliance may be placed for any purpose whatsoever on the information or opinions contained in these slides or the Presentation or on the completeness, accuracy or fairness thereof. In particular, any estimates or projections or opinions contained herein necessarily involve significant elements of subjective judgment, analysis and assumptions and each recipient should satisfy itself in relation to such matters.

The distribution of this document in or to persons subject to jurisdictions outside the UK may be restricted by law and persons into whose possession this document comes should inform themselves about, and observe, any such restrictions. Any failure to comply with these restrictions may constitute a violation of the laws of the relevant jurisdiction.

‌Haydale plc

Haydale Graphene Industries plc | Clos Fferws Parc Hendre, Tycroes, Ammanford SA18 3BL

SaveMoneyCutCarbon | Abbeystone House, 36 Eastern Way, Bury St. Edmunds, Suffolk, IP32 7AB