Allego, a Leading Pan-European Public Electric Vehicle Fast Charging Network, Announces Second Quarter 2022 Key Performance Metrics and Exercise of Mega-E Call Option

ARNHEM, NETHERLANDS & PARIS & NEW YORK–(BUSINESS WIRE)–Allego NV (“Allego” or the “Company”) (NYSE:ALLG), a leading pan-European public electric vehicle fast-charging network, today announced its key performance indicators for the second quarter 2022, which include Mega-E.

The company’s utilization rate in the second quarter of 2022 was 9.0%, compared to 4.6% during the same period in 2021, representing an increase of 94.9% and equivalent to 4.5 sessions per ultra-charger per day. On a sequential basis from the first quarter of 2022, the utilization rate increased from 7.5% to 9.0%, an increase of 19.2%.

The total number of sessions rose to 2.3 million, from around 1.4 million the previous year. Total energy sold increased by 102.1%, from 18.5 GWh to 37.4 GWh. Charging sessions held by Allego increased to 1.9 million, compared to the prior year period of around 1.0 million.

As of March 17, 2022, the Company is consolidating the assets of Mega-E and has now exercised the call option relating to Mega-E under previously disclosed terms for approximately €33.0 million in cash. The combination added more than 100 locations and nearly 770 charging stations, mostly fast and ultra-fast, in line with the company’s strategic direction.

Mathieu Bonnet, Managing Director, said: “I am very pleased to see the continued strength of our charging network as usage rates increase, thanks to the growing adoption of electric vehicles across Europe, coupled with our strategic partnerships with OEMs, fleets and high-end outlets, providing very convenient access to consumers. The addition of Mega-E strengthens Allego’s position in fast and ultra-fast chargers, and with 9% utilization and 99.5% uptime across our network, we provide a seamless experience for our customers. »

Allego continues to see significant tailwinds for its business as Europe focuses on energy independence and lower carbon emissions. This is evidenced by the announcement by the European Parliament on June 29, 2022, banning the sale of internal combustion engines (“ICE”) in cars and SUVs, from 2035. The ban is expected to continue to boost the need for large European investments in suitable electric vehicle charging infrastructure to replace gasoline-powered vehicles. Moreover, from January to May 2022, the penetration rates of electric vehicles in Europe remain more than three times higher compared to the United States.1. Allego’s existing leadership across the continent, with a presence in 15 countries and over 33,000 charging ports, leaves the company well positioned to capitalize on this mega-trend and create significant long-term shareholder value.

As of June 30, 2022, the Company had a secure order book of approximately 1,100 sites signed for lease terms of 10 years or more, including some 6,700 fast and ultra-fast charging stations. The company’s proprietary Allamo and EV Cloud platforms are integral to evaluating and acquiring the most suitable locations, enriching customer relationships, and improving customer visibility and profitability. income.

Mathieu Bonnet, CEO, added: “Our strategic alliance with European suppliers has proven resilient as we have experienced few disruptions. Additionally, the long-term power purchase agreements we are now securing from renewable sources will significantly position Allego to control its variable costs by removing future volatility associated with energy prices. The combination of these effective measures will enable us to meet our financial commitments and strengthen our market leadership position. »

Key indicators

Quarter ended June 30

Metric

2022

2021

% To change

Usage rate including Mega-E1

9.0%

4.6%

94.9%

Public charging ports*

29,698

25,767

15.3%

# Fast and ultra-fast charging sites*

903

748

20.7%

# Fast and ultra-fast charging ports*

1,293

1,018

27.0%

% repeat users

80.0%

80.8%

-0.9%

Owned public charging ports*

24,255

20,868

16.2%

Third-party public charging ports*

5,443

4,899

11.1%

Total number of sessions (‘000)

2,305

1,389

65.9%

Total number of sessions held by Allego (‘000)

1,866

998

87.0%

Total energy sold (GWh)

37.4

18.5

102.2%

Secure backlog (sites)*

1,100

500

120.0%

*As of June 30, 2022 and June 30, 2021, respectively. Includes Mega E.

1. The utilization rate, a key performance measure, is defined as the number of charging sessions per charging point and per day divided by a maximum number of charging sessions per charger and per day of 50 (for the charging station). ultra-fast charging). Includes Mega-E.

About Allego

Allego offers charging solutions for electric cars, motors, buses and trucks, for consumers, businesses and cities. Allego’s end-to-end charging solutions make it easier for businesses and cities to deliver the infrastructure drivers need, while the scalability of our solutions makes us the partner of the future. Founded in 2013, Allego is a leader in charging solutions, with an international charging network of around 34,000 public charging ports operating across the pan-European market – and growing. Our charging solutions are connected to our proprietary platform, EV-Cloud, which offers our customers and ourselves a comprehensive portfolio of features and services to meet and exceed market demands. We are committed to providing independent, reliable and safe charging solutions, regardless of vehicle model or network affiliation. At Allego, we strive every day to make electric vehicle charging easier, more convenient and more enjoyable for everyone.

Forward-looking statements

All statements other than statements of historical facts contained in this press release are forward-looking statements. Allego intends that these forward-looking statements be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Forward-looking statements can generally be identified by the use of words such as “believe”, “may”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “should”, “should”, “plan”, “project”, “expect”, “predict”, “potential”, “seem”, “seek”, “future”, “outlook”, “target”, or other similar expressions (or negative versions of such words or phrases) which predict or indicate future events or trends or which are not statements of historical matters. These forward-looking statements include, but are not limited to, Allego’s expectations regarding future performance. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially, and potentially adversely, from those expressed or implied by the forward-looking statements. Most of these factors are beyond Allego’s control and are difficult to predict. Factors that could cause such differences include, but are not limited to: (i) changes adversely affecting Allego’s business, (ii) risks associated with vulnerability to industry downturns and regional downturns or national, (iii) fluctuations in Allego’s revenues and results of operations, (iv) adverse conditions or other disruptions in capital and credit markets, (v) Allego’s ability to generate liquidity, incurring and incurring additional debt, (vi) competition from existing and new competitors, (vii) growth in the electric vehicle market, (viii) Allego’s ability to integrate businesses it may acquire, (ix) Allego’s ability to recruit and retain experienced personnel, (x) risks relating to legal proceedings or claims, including liability actions, (xi) reliance on ‘HAS allego to third-party contractors to provide various services, (xii) Allego’s ability to raise additional capital on commercially reasonable terms, (xiii) the impact of COVID-19, including COVID- 19 and other supply chain disruptions and related increases in expenditures, (xiv) general economic, regulatory or political conditions, including the armed conflict in Ukraine and (xv) other factors detailed in the section entitled “Element 3.D. Risk Factors” in Allego’s Annual Report on Form 20-F for the fiscal year ended December 31, 2021 and in Allego’s other filings with the United States Securities and Exchange Commission. The above list of factors is not exclusive. Should any of these risks materialize, or should Allego’s assumptions prove incorrect, actual results could differ materially from the results implied by such forward-looking statements. There may be additional risks that Allego does not currently know about or that Allego currently believes to be immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Allego’s expectations, plans or forecasts regarding future events and views as of the date of this press release. Allego anticipates that subsequent events and developments will cause Allego’s valuations to change. However, while Allego may choose to update these forward-looking statements at some time in the future, Allego specifically disclaims any obligation to do so, except as required by applicable law. These forward-looking statements should not be relied upon as representing Allego’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed on forward-looking statements.

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1) The utilization rate, a key performance measure, is defined as the number of charging sessions per charging point and per day divided by a maximum number of charging sessions per charger and per day of 50 (for the charging station). ultra-fast charging). Includes Mega-E.

2 Wall Street Research

Valerie J. Wallis