Announcement • Jun 20
Watera Announces Board Changes WATERA announced that the Shareholders' Meeting held on June 18, 2026, approved the appointment of Centre Capital Développement, represented by Mr. Bruno Jas, as a Director. This appointment followed OKwind Group's departure from the Board of Directors in March 2026 and marked Centre Capital Développement's return to the Board of Directors. Centre Capital Développement, managed by UI Investissement, supports SMEs based in the Centre-Val de Loire region in their growth projects across the industrial, industrial services and wholesale sectors. The company invests in business development and succession transactions involving companies with strong growth and value-creation potential. It provides minority equity and quasi-equity financing and is committed to being an active partner, working closely with management teams to support the successful execution of their strategic plans. Mr. Bruno Jas has been with UI Investissement since 2000 and is responsible for investments in the Centre-Val de Loire region on behalf of Centre Capital Développement. Actively involved in the regional business ecosystem, he identifies and invests in high-potential companies to foster their long-term regional development and preserve industrial expertise. Over the course of his career, he has completed numerous growth capital and buyout transactions across a wide range of industries, with a particular focus on the industrial sector. WATERA’s Board of Directors now consists of the following members: Orfeas Mavrikios, Chairman and CEO; Maxime Therrillion, Director and Deputy Chief Executive Officer; Centre Capital Développement, represented by Bruno Jas, Director; Maxime Haudebourg, Director; Antonios Svoronos, Director; Vasiliki Niatsou, Independent Director; Vassilis Pavlopoulos, Independent Director. Announcement • May 19
Watera, Annual General Meeting, Jun 18, 2026 Watera, Annual General Meeting, Jun 18, 2026. Location: 20 avenue gustave eiffel, gellainville France New Risk • May 11
New major risk - Revenue and earnings growth Revenue has declined by 12% over the past year. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If revenues are declining, then it is difficult for the company to prevent its earnings from declining as well. A trend of falling revenue can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€1.7m free cash flow). Share price has been highly volatile over the past 3 months (30% average weekly change). Revenue has declined by 12% over the past year. Shareholders have been substantially diluted in the past year (213% increase in shares outstanding). Minor Risks Revenue is less than US$5m (€2.0m revenue, or US$2.4m). Market cap is less than US$100m (€22.3m market cap, or US$26.3m). 
