WAGA ENERGY: directors' dealings · France · AMF

About WAGA ENERGY

Waga Energy is a French company specializing in the recovery of landfill gas into biomethane, also known as Renewable Natural Gas (RNG). Founded in 2015 and listed on Euronext Paris under ISIN FR0012532810, the company developed a proprietary technology called WAGABOX®, designed to purify biogas captured at landfill sites and convert it into renewable gas that can be injected directly into gas distribution networks. Its business model sits at the intersection of environmental services, industrial engineering and renewable energy, enabling Waga Energy to turn methane emissions into a local, renewable and competitively priced energy source. The company’s strength lies in its differentiated technological platform and long-term contractual model. WAGABOX® combines several gas-treatment stages to deliver network-grade biomethane, making the solution suitable for large-scale landfill applications. Waga Energy typically works in partnership with landfill operators and local authorities, generating recurring revenues from biomethane production while also capturing equipment and commissioning revenue during project development. In 2025, the group reported revenue of €59.6 million, supported by strong growth in biomethane production revenue, which confirms the scaling of its installed asset base. Waga Energy was created with the ambition of industrializing a solution that could meaningfully reduce methane emissions from waste sites. Since its founding, the company has expanded first in France and then internationally, building a footprint across Europe and North America. By the end of 2025, it was operating 35 production units in France, Spain, Canada and the United States, representing about 1.9 TWh per year of installed capacity, while 19 additional units were under construction across several countries in Europe and North America. This international expansion highlights the scalability of the technology and the relevance of biomethane in markets that are seeking decarbonization pathways for gas networks. Waga Energy is now regarded as a leading player in landfill-gas-to-biomethane projects in Europe and North America. Its addressable market is structurally supported by large volumes of residual gas, growing regulatory support for renewable gas, and the need to reduce the carbon intensity of energy systems. One notable recent milestone was the company’s achievement of full-year EBITDA breakeven in 2025, an important sign of operational maturity and improving financial discipline. With a growing base of operating assets, a sizable project pipeline and a proprietary technology set, Waga Energy has established itself as a notable industrial-scale energy transition company.