Nordex Group

Nordex SE - Investor Factbook

2 | Nordex SE - Investor Factbook

Experienced management team

José Luis Blanco

CEO

  • CEO Acciona Windpower
  • Various Senior Management & Chief Officer positions at Gamesa

Christoph Burkhard

CFO

  • CFO Siemens Wind Power Offshore
  • Various other positions at Siemens
  • BHF Bank, EBRD

Patxi Landa

CSO

  • Business Development Director and Executive Committee member at Acciona Windpower
  • Various Chief Officer positions at Acciona

© Nordex 2020

3 | Nordex SE - Investor Factbook

Agenda

1

2

3

4

5

Company overview & business model

Products & markets

Financials

Nordex share

Sustainability

© Nordex 2020

4 | Company overview & business model

Investment Case

Strategic pillars

Global

COE

Onshore

Global player with strong

Competitive and COE-driven

Onshore wind energy

presence in all volume

product portfolio covers

is the key technology for

and growth markets for

all regions and

the irrevocable transition

onshore wind energy

market conditions

to renewable energy

Shareholder

Strong anchor shareholder supports growth strategy

Team

Experienced management

and outstanding team

© Nordex 2020

5 | Company overview & business model

Nordex and Acciona Windpower created a truly global player

Market focus

Customer focus

Product focus

Technology focus

A strong fit benefitting from complementary approaches

Nordex

AWP

+

=

Europe

Emerging markets

Small & medium-sized

+

Large developers

=

customers

and IPPs

Complex and land

+

Projects without

=

constrained projects

land constraints

+

=

Blades

Concrete towers

Nordex Group

Truly global

Broad customer base

Different projects

Complementary

technologies

Creating a stronger

and more competitive

company

© Nordex 2020

6 Company overview & business model

Nordex - a pioneer in wind with more than 30 years of experience

  • Global manufacturer of wind energy systems focused on turbines in the 2-5MW class
  • WTG variants for different wind and climate conditions, addressing the requirements of developed as well as emerging markets
  • Production sites in Germany, Spain, Brazil, India, USA, Argentina and Mexico
  • Headquarter in Hamburg; subsidiaries for sales and service in all core markets
  • Listed company in the German TecDax and SDAX
  • Founded 1985 in Denmark, IPO in 2001
  • Acquisition of Acciona Windpower (AWP) in 04/2016
  • Main shareholder Acciona S.A. (36.3%)
  • Revenues 2018: Around EUR 2.5bn
  • Track record of more than 27 GW in over 40 countries

7 | Company overview & business model

Where we are - track record of Nordex

ARGENTINIA 261.15 MW

CANADA

203 MW

USA

4,081.2

MW

MEXICO

1,180.7

MW

COSTA RICA

49.5

MW

PERU

132.3

MW

COLOMBIA

19.5

MW

BRAZIL

1,185

MW

URUGUAY

309.2

MW

CHILE

105 W

© Nordex 2020

8 | Company overview & business model

Nordex achieved global top 5 in 2018

MARKET SHARES (BASED ON MW INSTALLED)

Europe

Nordex

placed 4th

Group

9%

Americas

Nordex

placed 3rd

Group

13%

Asia pacific

Nordex

Global

Nordex

(excl. China)

Group

placed 5th

Group

placed 4th

3%

9%

Others

© Nordex 2020

Source: Wood Mackenzie Historical Wind Power Market Shares Database (2019)

9 | Company overview & business model

Our history as one of the pioneers in onshore wind industry

Founding

First company

Installation

Completion

Commencement

Installation

of Nordex

worldwide

of the 100th

of the world's

of industrial

of the 2000th

in Denmark

to produce

Nordex

first series

rotor blade

Nordex turbine

a MW-class

turbine

multi-MW

production

turbine

2000

turbine

2003

2005

2007

1985

1995

1999

2000

2001

2003

Start of

the series

Opening of

First AW

Opening of the wind

production

production

60/1300

turbine assembly in

of the AW

facility in

prototype

Barásoain, Spain

1500

US

Launch of

Launch of

Nordex and Acciona

Launch of

Launch N155/4.5

Entry into the

Gamma

Delta generation

Windpower become one

4 MW product

5 MW Class

generation

company

series Delta4000

Launch

2008

2013

2014

2016

2018

N149./5.X and

N163./5X

2010

2013

2016

2017

2019

More than

Launch of

Introduction

Industrial Implementation

2000 MW of the

Opening of first

N133/4.8 for

of the AW

in Brazil with the opening

AW 3000

assembly plant

strong wind

3000

of hub production plant

platform sold

in India

sites

© Nordex 2020

10 | Company overview & business model

What we do - Nordex core business

VALUE CHAIN. MORE THAN A MANUFACTURER.

Project

Wind Farm

Production and Technical

Wind Farm

Services and

Development

System Planning

Implementation

Operations

Maintenance

Project

Turbine

Civil

Electrical

Installation &

Service

Development

Delivery

Works

Infrastructure

Commissioning

  • Selection of location
  • Ownership
  • Optimal siting
  • Wind measurements
  • Soil survey
  • Sound / shade emission
  • Economic viability
  • Grid connection
  • Special purpose registration
  • Environmental permitting
  • Building permitting

© Nordex 2020

11 | Company overview & business model

Strategy roadmap further strengthens our competitive position

We are:

Sustainable | Global | COE Leader

We focus on:

COE | Speed | Flexibility

1

2

3

4

5

We deliver:

Global market

COE optimized

Supply chain

Operational cost

Service

presence

product portfolio

transformation

efficiencies

business

4.7 GW order intake

New product

Ramping up

Stringent

Continuously

in 9M/2019

N163/5.X enlarges

India and

W/C-management

growing with

regionally well

product portfolio

blade production

programme

dedicated features

balanced

in Turkey

implemented

as predictive

maintenance

Leading global onshore wind turbine supplier

© Nordex 2020

12 | Company overview & business model

Nordex production footprint shows international supply chain

GOOD GEOGRAPHICAL FIT FOR PRODUCTION TO SERVE GLOBAL DEMAND.

Mexico ›Tower ›Blade

Chile

›Tower

Germany ›Nacelle ›Blade

Spain

›Nacelle ›Blade ›Tower

Brazil ›Nacelle ›Blade ›Tower (2x)

Argentina

›Nacelle

›Tower (3x)

Turkey

China

›Blade

›Smart Logistics

›Blade (2x)

India

›Nacelle ›Tower ›Blade

South Africa

›Tower

© Nordex 2020

13 | Company overview & business model

Nordex operates a lean and flexible business model

Turbine development, production, projects and logistics

Asset light

business model

Component

Project

in value chain

Turbine Research

Turbine

development and

Management

& Development

assembly

manufacturing

and Logistics

Focus on core

Wind farm development and operations

competencies

by outsourcing

parts of value

Project

Wind farm

Operation and

chain

development

owners

maintenance

Limited vertical integration allows company to manage capital commitment

and retain a flexible business model

Third party

Partially in-house

Key focus/in-house

© Nordex 2020

14 | Nordex SE - Investor Factbook

Agenda

1 2 3 4 5

Company overview & business model

Products & markets

Financials

Nordex share

Sustainability

© Nordex 2020

15 | Products & markets

Nordex competitive and state-of-the-art product portfolio covers all markets and wind conditions

MULTIPLE PLATFORMS AND PRODUCTS

Light wind

Medium wind

Strong wind

5 MW +

N163/5.X

N149/5.X

N155

4 MW +

N133/4.8

N149/4.0-4.5

N100/3300

N117/3000-3600

N131/3000-3900

3 MW +

AW116/3000

AW125/3000-3150

AW132/3000-3465

AW140/3000

AW148/3000

N90/2500

2 MW +

N100/2500

N117/2400

Solutions to serve customer needs

AROUND THE GLOBE.

Standard design conditions

Site dependent

Gamma

Delta

One

Delta4000 Platform

Strategy

AW

Today

Time

ONE PLATFORM / MARKET SPECIFIC DERIVATIVES

© Nordex 2020

16 | Products & markets

N149/5.X - Key facts

WTG design purely focused

lifetime extension up to 25 years

on lowest possible COE

Standard design lifetime of 20 years

proven Delta4000 product series

149m rotor

"Staged Approach" philosophy

proven blade of N149/4.0-4.5

only 5 MW+ WTG based on proven platform

IEC S class

up to IEC A

suitable in core low-to- medium wind speed sites

>5MW rating

N149/5.X

utilizing site potential

up to 164m hub heights

Nacelle dimensions remain

site-specific towers

unchanged to N149/4.0-4.5

first contracts already signed

104.8 dB(A) @ 5.5 MW

+ numerous sound modes

© Nordex 2020

17 | Products & markets

N163/5.X - Key Facts

WTG design purely focused

lifetime extension up to 25 years

on lowest possible COE

Standard design lifetime of 20 years

Same nacelle as N149/5.X

IEC S class

163m rotor

>5MW rating

N163/5.X

utilizing site potential

Suitable in core

various site-specific towers

low-to-medium wind speed sites

up to 164m hub height

numerous sound modes

Single-piece blade

+20% AEP

based on N149 design

(vs. N149/4.0-4.5)

© Nordex 2020

18 | Products & markets

Global service network

© Nordex 2020

19 | Products & markets

Service portfolio: Nordex service makes the difference

On-site

Off-site

Maintenance

    • Inspections
  • Maintenance
  • HSE inspections

Monitoring &

Technical Support

  • 24/7 Control Centre
  • Support for technical issues

Spare Parts

Management

  • Worldwide supply of spare parts, 365 days a year

Training

  • Uniform qualification of all service technicians worldwide

Trouble Shooting

    • Repair
  • Onsite repair & troubleshooting
  • Exchange & overhaul of major components

Digital and Data

Analytics

  • Driving digital change, remote diagnostics & predictive maintenance.

Upgrades &

Modernizations

  • Products to enhance the performance of the installed fleet

© Nordex 2020

20 | Products & markets

Wind will be a prominent source as global energy production rises

World energy production is rising…

Electricity generation by region ( PWh)

OECD countries

US

India

European Union

China

Others

40.000

+39%

35.000

30.000

25.000

20.000

15.000

10.000

5.000

0

2012

2015

2020

2025

2030

2035

… with onshore wind as a major contributor

Cumulative global installed capacity by source (GW)

2018 2035

Onshore Wind

528

2,180

+313%

Offshore Wind

22

258

PV

526

3,630

Other

1,451

Renewables

1,831

Conventional

4,365

+8%

Sources

4,731

Strong, continuous growth of onshore wind in the medium term expected

Source: Bloomberg New Energy Finance, New Energy Outlook 2019, as of Jun-2019

© Nordex 2020

Conventional sources include nuclear, coal, gas and oil capacities

Other renewables include geothermal, hydro and others

21 | Products & markets

Global demand for electricity continues to grow and will increasingly be met by renewables

Key drivers of trend

  • Global demand for electricity will grow by almost
    62% until 2050:
    • In non-OECD countries, power demand is expected to double
    • Most of the growth comes from large, rapidly expanding economies, especially China and India
    • In OECD countries, demand will be flat or even negative, reflecting a combination of improved energy efficiency, modest economic expansion, and retreat from energy-intensiveindustries
    • These dynamics are slightly offset by the increasingly important role of electric vehicles
  • Cheap renewable energy and batteries fundamentally reshape the electricity system
  • A total of USD 13.3 trillion will be invested in new power generating capacity between 2018 and 2050, with over 83% going to renewables

Global renewable electricity generation

Cumulative renewable electricity generation in China and India

PWh

30

26.4

25

+4%

8.8

OECD

20

17.9

countries

15

6.8

10.3

non-OECD

countries

10

7.2

7.2

5

3.1

2.3

0

2018

2035e

2050e

© Nordex 2020

Source: BNEF NEO 2019

22 | Products & markets

Latest market developments

Americas

  • Very high activity level expected in 2020 and 2021 due to anticipated demand from new offtakers - especially in the commercial & industrial field.
  • Change of government in Mexicocreates uncertainties but market supported by corporate PPAs.
  • Brazil held a technology neutral auction with 1.04 GW awarded to wind in October.
  • Colombia held an auction with 1.1 GW awarded to wind in October.

Europe

  • Climate Protection Programreleased in Germany defines roadmap for onshore wind until

2030. Permittingdifficulties continue to result in under- subscribed auctions in Germany.

  • Oversubscribed auction in Francewith 575 MWof wind awarded.
  • Poland, GreeceandItaly holding new auctions still within2019.

Rest of World

  • Federal and State policies supporting market activities in India in the long-term.
    Short term market uncertainties with latest auctions significantly undersubscribed.
  • 14.4 GW ofnew wind capacity planned for2022-2030 in RSA as per final IRP. Round 5 expected to take place in first half of 2020.

© Nordex 2020

23 | Nordex SE - Investor Factbook

Agenda

1

2 3 4 5

Company overview & business model

Products & markets

Financials

Nordex share

Sustainability

© Nordex 2020

24 | Financials

Increased activity in Q3/2019 according to expectations

9M/2019 RESULTS

Sales

EBITDA margin

Working capital ratio

EUR 1,943m

3.1%

-5.2%

  • Guidance for full year 2019 confirmed.
  • Q3/2019 another strong quarter with order intake of 1.7 GW (Q3/2018: 974 MW).
  • Around 50 percent of Q3 order intake volume accounts for latest turbine generation Delta4000.
  • Delta4000 product portfolio with meanwhile five different product types covering all customer requirements.
  • On October 8th cash capital increase of EUR 99.0m through private placement to anchor shareholder Acciona.

© Nordex 2020

25 | Financials

Order intake 9M/2019

Order intake turbine* (in MW)

+54%

4,742

3,070

9M/20189M/2019

  • Strong order intake in 9M/2019: EUR 3,314m (EUR 2,343m in previous year period)
    thereof in Q3/2019:
    EUR 1,199m (EUR 733m in Q3/2018)
  • Stable ASP of EUR 0.70m/MW for 9M/2019

Order intake turbine* by regions (in %)

Europe North America Latin America RoW

32%

45%

17%

38%

34%

13%

18%

3%

9M/2018

9M/2019

  • Largest order volume coming from USA, Brazil, Sweden and Spain in 9M/2019
  • 40 percent of order intake accounts for new Delta4000 generation in first nine months
  • Order intake received from 21 different countries showing Nordex global footprint

© Nordex 2020

*Group segment "Projects"

26 | Financials

Further growth of service business

Service sales (in EUR m)

+11%

287.1

258.4

9M/20189M/2019

Comments

  • Service sales share amounted to 14.8% of group sales in 9M/2019
  • Service EBIT margin of for 17.6% in first nine months 2019
  • 97.5% average availability of WTG under service
  • Strong Service order backlog of EUR around 2.5bn

© Nordex 2020

27 | Financials

Combined order backlog of EUR 8.1bn as of 9M/2019

Order backlog turbines (EUR m)

+80%

5,651

Order backlog service (EUR m)

+15%

2,477

2,151

3,140

9M/2018

9M/2019

9M/2018

9M/2019

  • Strong increase in turbine order backlog to EUR 5,651m at the end of 9M/2019 due to continuously high order intake over the last quarters
  • Order backlog reflects Nordex geographical footprint on focus markets: Europe (43%), North America (22%), Latin America (22%), RoW (13%)
  • Increasing number of wind turbines under service: 7,791 - corresponding to 19.7 GW at the end of 9M/2019

© Nordex 2020

28 | Financials

Income statement 9M/2019

in EUR m

9M/2019

9M/2018

abs. change

Sales

1,943.0

1,772.9

170.1

Total revenues

2,519.7

1,753.3

766.4

Cost of materials

-2,004.3

-1,281.5

-722.8

Gross profit

515.4

471.8

43.6

Personnel costs

-264.9

-238.1

-26.8

Other operating (expenses)/income

-190.3

-162.3

-28.0

EBITDA

60.2

71.4

-11.2

Depreciation/amortization

-102.4

-110.4

8.0

EBIT

-42.2

-39.0

-3.2

Net profit

-76.5

-51.8

-47.7

Gross margin*

26.5%

26.6%

EBITDA margin

3.1%

4.0%

EBIT margin w/o PPA

-1.2%

0.4%

Comments

  • Q3/2019 sales figures of EUR 952m reflecting expected high execution
  • High total revenues signal further increasing sales in Q4/2019
  • Further normalization of gross margin as anticipated
  • EBITDA margin in line with increasing business activities in Q3/2019
  • PPA depreciation amounted to EUR 18.3m in 9M/2019 (EUR 45.5m in 9M/2018)

© Nordex 2020

*Gross profit in relation to sales

29 | Financials

Balance sheet 9M/2019

in EUR m

30.09.19

31.12.18

abs. change

in %

Non-current assets

1,425.3

1,277.6

147.7

11.6

Current assets

2,570.5

1,781.0

789.5

44.3

Total assets

3,995.8

3,058.5

937.3

30.6

Equity

619.6

697.3

-77.7

-11.1

Non-current liabilities

897.6

822.9

74.7

9.1

Current liabilities

2,478.7

1,538.3

940.4

61.1

Equity and total liabilities

3,995.8

3,058.5

937.3

30.6

Net debt*

200.9

32.5

Working capital ratio**

-5.2%

-3.8%

Equity ratio

15.5%

22.8%

Comments

  • Cash position of EUR 388m at the end of 9M/2019
  • Further balance sheet prolongation based on increased current assets and liabilities due to high activity level in second half 2019

© Nordex 2020

*Cash and cash equivalents less bank borrowings and bond.

**Based on last twelve months sales (31.12.2018: actual sales figures).

30 | Financials

Working capital development 9M/2019

Working capital ratio (in % of sales)

Working capital development (in EUR m)*

5.4

64

FY guidance

2019 < 2%

175

153

-1.5*

-3.8

23

-117

-4.7

-5.2

-136

Q3/

Q4/

Q1/

Q2/

Q3/

Q2/

Receiva-

Inven-

Prepay-

Pay-

Q3/

2018

2018

2019

2019

2019

2019

bles

tories

ments

ables

2019

  • Working capital ratio remains on low level due to consistently high order intake
  • Increase in inventories reflecting preparation of high activity level in the last quarter of 2019

© Nordex 2020

*Based on last twelve months sales

31 | Financials

Cash flow statement 9M/2019

in EUR m

9M/2019

9M/2018

Comments

Cash flow from operating activities before net working capital

Cash flow from changes in WC

Cash flow from operating activities

Cash flow from investing activities

Free cash flow

Cash flow from financing activities

Change in cash and cash equivalents*

-93.69.9

30.8-67.6

-62.8-57.7

-93.2-26.6

-156.0-84.3

-62.5-43.9

-218.4-128.2

  • Cash flow from operating activities mainly influenced by net loss and phasing-related VAT outflows
  • Cash flow from changes in WC (EUR 30.8m) positively impacted by strong order intake over the last quarters
  • Cash flow from investing activities in line with expectations
  • Cash flow from financing activities mainly driven by repayment of SSD tranche in April

© Nordex 2020

*Including FX effects

32 | Financials

Total investments 9M/2019

CAPEX (in EUR m)

Property, plant, equipment Intangible assets

67.1%

100.9

Comments

› Investments in 9M/2019 primarily comprise:

• Investments in blade production facilities in

Mexico and Spain

• Investments in nacelle production facility in India

• Investments in tooling and equipment for

international projects

• Investments in product development

60.4

80.9

31.3

29.1

20.0

9M/20189M/2019

› Decrease in intangible assets due to lower level of

development costs compared to prior-year period

© Nordex 2020

33 | Financials

Capital structure 9M/2019

Net debt*/EBITDA**

Equity ratio (in %)

3.0

2.5

2.5

2.2

2.0

1.8

1.5

1.3

1.0

0.5

0.3

0.0

-0.5Q3/

Q4/

Q1/

Q2/

Q3/

2018

2018

2019

2019

2019

30

25

23.7

22.8

20

19.7

17.4

15

15.5

10Q3/

Q4/

Q1/

Q2/

Q3/

2018

2018

2019

2019

2019

  • Leverage ratio in Q3/2019 as expected and will further decline towards the end of the year
  • Equity ratio decreased due to continuous increase in total assets leading to a balance sheet prolongation

© Nordex 2020

*Cash and cash equivalents less bank borrowings and bond.

** Based on last twelve months.

34 | Financials

Debt maturity profile of Nordex Group

(in EUR m)

EIB

SSD fix

SSD var

Bond

350

307

300

250

228

200

150

100

56

50

13

13

7

0

3

2019

2020

2021

2022

2023

2024

2025

2026

  • SSD maturity of EUR 43.5m was fully repaid out of cash in April 2019.
  • Major upcoming debt maturities in Q2/2021 (SSD) and 2023.
  • All Nordex debt instruments well within its covenant thresholds.

© Nordex 2020

35 | Financials

Operations 9M/2019

Installations (MW)

Production

-9%

Turbine assembly (MW)

1,719

+78%

1,565

3,095

1,736

9M/2018

9M/2019

9M/2018

9M/2019

Blade production (#)

+69%

1.093

648

9M/2018

9M/2019

  • Total installations of 476 WTGs in 16 countries in the first nine months 2019: 47% Europe, 24% Latin America and 29% North America
  • Output turbines amounts to 920 units in 9M/2019: 348 GER, 357 ESP, 46 BRA, 150 IND and 19 ARG
  • Inhouse blade production of 1,093 units in 9M/2019: 328 GER, 561 ESP, 24 MEX and 180 IND
  • Outscourced blade production of 1,695 units in 9M/2019

© Nordex 2020

36 | Financials

Guidance for 2019 confirmed

Sales:

EUR 3.2 - 3.5bn

EBITDA margin:

3.0 - 5.0%

Working capital ratio:

<2%

CAPEX:

approx. EUR 160m

© Nordex 2020

37 | Nordex SE - Investor Factbook

Agenda

1

2

3

4

5

Company overview & business model

Products & markets

Financials

Nordex share

Sustainability

© Nordex 2020

38 | Nordex share

Stable shareholder structure & comprehensive market coverage

Shareholder structure

Analyst coverage

Freefloat

Acciona S.A.

36.27%

5

Buy

63.73%

Hold 7

Key figures:*

Consensus of 12 analysts:*

›

Number of shares:

106,680,691

›

Ø Share price:

EUR 13.60

›

Share price:

EUR 12.40

›

Ø 2019 Revenues:

EUR 3.3bn

›

Market capitalization:

EUR 1,323m

›

Ø 2019 EBITDA margin:

4.10%

© Nordex 2020

*As of 20.11.2019

39 | Nordex share

Nordex share price development

EUR

Volatility of share price is mainly driven by transformation phase of industry and company

© Nordex 2020

40 | Nordex share

Strong and committed anchor shareholder supporting Nordex

  • Acciona Group profile / strategy
  • Holding company with a presence in over 40 countries that invests, develops and operates infrastructure, with a particular emphasis on renewable energy
  • Group operates through three main business segments:
    • Infrastructure: Covers construction activities, industrial activities, concessions, water and services
    • Energy: Includes activities ranging from construction of wind farms to generation and distribution
    • Other: Deals with businesses relating to fund management and stock market brokerage, wine production, real estate business and other

investments

Key facts:

  • Market capitalization: c. €5bn
  • Revenue 2018A: €7.5bn
  • EBITDA 2018A: €1.2bn
  • Established track record across Debt and Equity Capital Markets
  • Entrecanales family as main anchor shareholder holding over 50%, free float c. 39%
  • Recent support for Nordex

Continuously strong commitment to strategic investment into Nordex recently underpinned by €99m capital increase in October 2019

  • Long-termsupportive shareholder since merger
  1. of wind turbine business into Nordex in 2016
  • Additional liquidity facilitates expected growth
  1. due to ongoing demand for Delta4000 platform
  • Commitment of anchor shareholder proves
  1. Nordex' path of profitable growth

© Nordex 2020

41 | Nordex SE - Investor Factbook

Agenda

1

2

3

4

5

Company overview & business model

Products & markets

Financials

Nordex share

Sustainability

© Nordex 2020

42 | Sustainability

Sustainability strategy 2019 − 2021

Sustainability@Nordex

Strategy - Fields of Action

Nordex's highly efficient wind power systems are already making a major contribution

to climate-friendly energy generation

today.

We will continue this sustainable approach through our new Sustainability Strategy 2019 to 2021.

© Nordex 2020

43 | Sustainability

Sustainability key facts (1)

Product

During its more than

30 years

of history, Nordex has built turbines with a rated output of more than

25,000 MW.

  1. single Nordex large-scale turbine1 covers the average annual electricity demand of about

3,000

four-person households2.

489 g of CO2

are saved per kWh generated by wind turbines (compared to the German electricity mix 20173).

Projection for one Delta4000 at medium wind speed:

savings of approx.

6,500 t CO2 per year.

Employees

37%

less disclosable occupational accidents

(2016: 156 2018: 98)

69

nationalities were working at Nordex in 2018

Environment

88.1%

of the overall amount of purchased electricity

in 2018 was generated by the use of

renewables

(2016: 66.8 %)

1 Reference: N149/4.0-4.5, medium wind speed of 6.5m/s, excl. losses.

2 https://www.musterhaushalt.de/durchschnitt/stromverbrauch/ average electricity demand of 4,432 kWh per year (without electric water heating).

3 Projected value; Source: Umweltbundesamt (2018): Entwicklung der spezifischen Kohlendioxid-Emissionen des deutschen Strommix in den Jahren 1990-2017.

© Nordex 2020

44 | Sustainability

Sustainability key facts (2)

All production sites, the headquarters in Hamburg and Spain as well as other offices are certified according to the environmental management standard for occupational health and safety

ISO 14001 and the OHSAS 18001

Nordex has ESG ratings from oekom, MSCI, sustainalytics,

CDP and IMAG

In March 2019, Nordex published its 3rd separate

Sustainability Report

(integrated non-financial report was audited)

Financing by Green Bond

© Nordex 2020

45 | Nordex SE - Investor Factbook

Financial calendar 2020

2020*

Event

9 March

Publication of preliminary figures FY 2019

24 March

Analyst conference / Publication of Annual Report 2019

11

May

Interim Statement Q1 2020

10

June

Annual General Meeting (Rostock)

13

August

Interim Report H1 2020

12

November

Interim Statement Q3 2020

© Nordex 2020

*Preliminary dates

46 | Nordex SE - Investor Factbook

Disclaimer

  • All financial figures within this presentation are unaudited.
  • This presentation was produced in January 2020 by Nordex SE solely for use as a source of general information regarding the economic circumstances and status of Nordex SE. It does not constitute an offer for the sale of securities or an invitation to buy or otherwise acquire securities in the Federal Republic of Germany or any other jurisdiction. In particular it is not intended to be an offer, an investment recommendation or a solicitation of an offer to anyone in the U.S., Canada, Japan and Australia or any other jurisdiction. This presentation is confidential. Any reproduction or distribution of this presentation, in whole or in part, without Nordex SE's prior written consent is expressly prohibited.
  • This presentation contains certain forward-looking statements relating to the business, financial performance and results of Nordex SE and/or the industry in which Nordex SE operates, these statements are generally identified by using phrases such "aim", "anticipate", "believe", "estimate", "expect", "forecast", "guidance", "intend", "objective", "plan", "predict", "project", and "will be" and similar expressions. Although we believe the expectations reflected in such forward-looking statements are based upon reliable assumptions, they are prepared as up-to-date and are subject to revision in the future. We undertake no responsibility to update any forward-looking statement. There is no assurance that our expectations will be attained or that any deviations may not be material. No representation or warranty can be given that the estimates, opinions or assumptions made in, or referenced by, this presentation will prove to be accurate.

© Nordex 2020

47 | Nordex SE - Investor Factbook

Contact details

IF YOU HAVE ANY QUESTIONS PLEASE

CONTACT THE INVESTOR RELATIONS TEAM:

Felix Zander

Tobias Vossberg

Rolf Becker

Nordex SE

Langenhorner Chaussee 600

22419 Hamburg

Germany

Phone:

+49-40-30030-1000

Email:

investor-relations@nordex-online.com

Web:

www.nordex-online.com

© Nordex 2020

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Nordex SE published this content on 24 January 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 January 2020 15:24:06 UTC