Alternus Energy : Q2 2021 Financial Presentation

SECOND QUARTER 2021

17th AUGUST 2021

Q2'2021 Financial Presentation 1

Caution Forward Looking Statements

Some of the statements contained in this document, including information incorporated by reference, discuss future expectations, plans or prospects, or state other forward looking information Words such as "intends", "believes", "expects," "anticipates,", "plans," "estimates," "should," "likely" or similar expressions reflecting something other than historical fact are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. Such statements include, but are not limited to, statements about the benefits to the value of the Company's stock. Such forward looking statements are based upon the current beliefs and expectations of the Company's management and are inherently subject to significant business, economic, and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond the control of the Company. Actual results may differ materially from the results anticipated in these forward-looking statements. Factors, among others, that could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements include and are not limited to: General business and economic conditions; the performance of financial markets and interest rates; the ability to obtain government approvals; and possible delays in government approvals. While we may elect to update these forward- looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our views change. Therefore, you should not rely on these forward-looking statements as representing our views as of any date subsequent to today. In addition, actual results or stockholder values may differ materially from those indicated by these forward-looking statements as a result of various important factors, including, but not limited to, our ability to raise the necessary financing required to acquire the targeted renewable energy power plants listed herein and in other documents, on suitable terms. At this time, we do not have any offer to finance these plants and there is no guarantee that such financing will be agreed on suitable terms, or at all. If the Company does not succeed in raising the required financing, then the plans outlined herein will be significantly curtailed.

This is not an offer to buy or sell securities

This document is for informational purposes only and does not constitute an offer or solicitation to sell shares or securities in the Company or any related or associated company. None of the information or analyses presented are intended to form the basis for any investment decision, and no specific recommendations are intended. Accordingly, this document does not constitute investment advice or counsel or solicitation for investment in any security. This document does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or any invitation to offer to buy or subscribe for, any securities, nor should it or any part of it form the basis of, or be relied on in any connection with, any contract or commitment whatsoever. The Company expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from: (i) reliance on any information contained in the document, (ii) any error, omission or inaccuracy in any such information or (iii) any action resulting therefrom.

AGENDA AND TODAYS PRESENTERS

Q2'2021 Financial Presentation 2

Vincent Browne

Joseph Duey

CEO & Chairman	CFO
§ Vincent will present:	§ Joe will present:
- Key Metrics	- Financial Performance

• Business Update
• Market Outlook

Q2'2021 - STRONG GROWTH IN ALL KEY METRICS

Q2'2021 Financial Presentation 3

REVENUES				EBITDA				NET INCOME
EUR 5.2m				EUR 2.0m				EUR 10.6m1
2.5 times				4.0 times
						EUR 0.9m in Q2 2020
vs. Q2 2020				vs. Q2 2020

		ARR's			OWNED ASSETS				CONTRACTED ASSETS
		EUR 16.5m			423 MW				1.4 GW
		3.0 times	14 times				Pipeline 563 MW
		vs. 2020	vs. 2020

1. Net Income includes EUR 13.3 million of one time gain on acquisition of certain assets and gain from debt forgiveness in the period. Please refer to the CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME in the second quarter financial report.

CURRENT PORTFOLIO OF DIVERSIFIED SOLAR PV ASSETS - AUGUST 2021

Q2'2021 Financial Presentation 4

1 130 MW operational1 - 342 MW in development / construction2

Operational
Development / Construction
							342
					65
								472
			1	65		130
		12
	10
42
Romania	Italy	Netherlands	Germany	Owned	Poland 1	Asset in	Owned	Total portfolio
				assets		operation	D&C assets

Team

Sizable and diversified portfolio of European producing PV assets with attractive return characteristics (incl. Poland park1)

Current

Number of

Operating

Annual production

Operational

Run-rate

Weighted avg. unexpired

Headcount

assets in operation

capacity

Operational

ARR

Project EBITDA

FiT/PPA term

28

24 1

130 MW

143 GWh

EUR 19.9m

EUR 17.6m

8.8 years

1. Poland acquisition not yet completed but Alternus is receiving cash benefit since January 1, 2021 - expected to close September 2021.
2. As at date of this report - August 17, 2021