First Quarter 2026 Revenue Increased 122% and Adjusted EBITDA Expanded 127% Over First Quarter 2025

BURLINGTON, Ontario--(BUSINESS WIRE)--May 12, 2026-- Anaergia Inc. (“Anaergia”, or the “Company”) (TSX: ANRG) (OTCQX: ANRGF), a company that offers integrated waste-to-value solutions to reduce greenhouse gases by cost-effectively turning organic waste into renewable natural gas (“RNG”), fertilizer, and water, reported financial results for the three-month period ended March 31, 2026 (“Q1 2026”) and filed its related management’s discussion and analysis (“MD&A”) for the period. All financial results are reported in Canadian dollars unless otherwise stated.

First Quarter 2026 Highlights

• Revenue of $55.2 million, an increase of 122% over Q1 2025
• Gross profit of $12.7 million, an increase of 135% over Q1 2025; gross margin increased to 23.0% from 21.7%
• Positive Adjusted EBITDA¹ of $1.1 million, an improvement of 127% or $5.0 million compared to a loss of $(3.9) million in Q1 2025, representing the third consecutive quarter of positive Adjusted EBITDA¹
• Revenue Backlog¹ increased to $265 million at quarter end, up 32% compared to Q1 2025; the Company signed over $54 million in new contract awards during the quarter

Operating and financial progress

The quarter reflected continued execution, with higher project activity translating into improved gross profit and expanded gross margin, alongside positive Adjusted EBITDA¹. The Company’s growing Revenue Backlog¹ and increased financial flexibility are intended to support continued disciplined project execution and positive financial results.

Management Commentary

“Q1 marked our third consecutive quarter of positive Adjusted EBITDA¹, alongside strong revenue growth and expanding gross margin,” said Assaf Onn, CEO of Anaergia. “These results reflect disciplined execution and continued progress in our capital-light strategy. During the quarter, we signed over $54 million in new contract awards, increasing Revenue Backlog¹ to $265 million at quarter end, up 32% compared to the first quarter of last year. Our focus remains on converting backlog into profitable revenue over project execution timelines.”

“We also recently announced a $20 million credit agreement with National Bank of Canada, with an accordion feature that can increase the facility up to $30 million over the next year,” Mr. Onn added. “This facility strengthens our financial flexibility and supports continued execution while maintaining operating discipline.”

Financial highlights:

• Revenue increased by 122.0% year-over-year to $55.2 million (from $24.9 million in Q1 2025). This increase was primarily driven by higher capital sales project execution in Europe and North America.
• Gross profit margin increased to 23.0% in Q1 2026 from 21.7% in Q1 2025, an increase of 1.3 percentage points reflecting improved performance in the Capital Sales segment.
• Adjusted EBITDA¹ improved by 127.1%, or $5.0 million, to $1.1 million, from an Adjusted EBITDA loss of $3.9 million reported in Q1 2025. The improvement was driven by higher revenue and gross profit in the Capital Sales segment as well as changes in other reconciling items.

For a more detailed discussion of Anaergia’s results for Q1 2026, please see the Company’s financial statements for Q1 2026 and related MD&A, 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 (“ERP”) 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 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-GAAP Measures” below for a reconciliation of the foregoing non-GAAP measures to their most directly comparable measures calculated in accordance with GAAP.

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 Wednesday May 13, 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/875922396

For analysts and shareholders Q&A registration: https://events.q4inc.com/analyst/875922396?pwd=kQ2s6GT8

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 Backlog¹ 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.

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

Source: Anaergia Inc.