ContourGlobal : Citi European Utilities and Infrastructure Conference – January 2021

Citi European Utilities and Infrastructure Conference

January 2021

Disclaimer

The information contained in these materials has been provided by ContourGlobal plc ("ContourGlobal" or the "Company") and has not been independently verified. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. It is not the Company's intention to provide, and you may not rely on these materials as providing, a complete or comprehensive analysis of the Company's financial position or prospects. The information and opinions contained in these materials are provided as at the date of this presentation and are subject to change without notice. Neither the Company nor any of its affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss whatsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation.

Certain statements in this presentation are "forward-looking statements." All statements other than statements of historical facts included in this presentation, including, without limitation, those regarding the Company's financial position, business strategy, plans and objectives of management for future operations, are forward-looking statements. These statements involve a number of factors that could cause actual results to differ materially, including, but not limited to, changes in economic, business, social, political and market conditions, success of business and operating initiatives, and changes in the legal and regulatory environment and other government actions. Forward-looking statements contained in this presentation regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. Any forward-looking statement made during this presentation or in these materials speaks only as of the date on which it is made. The Company assumes no obligation to update or revise any forward-looking statements.

Information contained herein relating to markets, market size, market share, market position, growth rates, penetration rates and other industry data pertaining to the Company's business is based on the Company's estimates and is provided solely for illustrative purposes. In many cases, there is no readily available external information to validate market-related analyses and estimates, thus requiring the Company to rely on internal surveys and studies. The Company has also compiled, extracted and reproduced market or other industry data from external sources, including third parties or industry or general publications, for the purposes of its internal surveys and studies. Any such information may be subject to significant uncertainty due to differing definitions of the relevant markets and market segments described.

This presentation contains references to certain non-IFRS financial measures and operating measures. These supplemental measures should not be viewed in isolation or as alternatives to measures of the Company's financial condition, results of operations or cash flows as presented in accordance with IFRS in its consolidated financial statements. The non-IFRS financial and operating measures used by the Company may differ from, and not be comparable to, similarly titled measures used by other companies. The non-IFRS adjustments for all periods presented are based upon information and assumptions available as of the date of this presentation.

2

Business Highlights

High-growthlong-term global contracted power generation company

$828m EBITDA LTM Q3 2020(1)

Focused Business Model: grow and operate long-termcontracted power

generation assets

Long-term contracts and regulated tariffs delivering stable and secure cash flows, supporting growing dividend

Returned $287 million in dividends and $30m in share buy backs since listing in November 2017, equivalent to 17% of market capitalization(5)

15-year track record of value accretive growth

Efficient capital structure: non-recourse amortizing debt financing at asset level allows for organic deleveraging

Longstanding commitment to ESG and sustainability principles: signatory of

the United Nations Global Compact Pact (UNGC) Principles since 2010

Majority of asset PPAs linked to inflation

6.3 GW Contracted Generation(2)

20

Countries

6,345

MW Installed Capacity

119

Power Generation

Assets

~10 years

Weighted Average Contract Remaining Term(3)

+25%

CAGR since 2006(4)

1. LTM at Q3'20, pro-forma for full year EBITDA of Mexican CHP acquisition completed in November 2019 and the 1.5 GW Western Generation Portfolio acquisition signed in December 2020 and expected to close in Q1 2021. For the 12 months ended 31 December 2019, Western Generation Portfolio generated preliminary Adjusted EBITDA of approximately $88 million
2. All metrics pro-forma for Western Generation acquisition described above
3. For contracted / regulated revenues
4. Compounded Annual Growth Rate in Installed Capacity from 2006 to LTM Q3'20 adjusted for Western Generation acquisition.`
5. Share closing price of 215GBp on 8th January 2021 and USD:GBP FX rate of 1.35x

3

Global Diversified Footprint

6,345 MW across 20 Countries and 4 Continents

		Pro-Forma for Acquisition EBITDA
		by Geography(1)
		31%
				46%
		13%
			10%
		Europe
		Africa
		US & Caribbean
		Latin America
		Pro-Forma for Acquisition EBITDA
		by Technology(1)
Pro-Forma for Acquisition EBITDA	Renewable			Thermal
39%			43%
by Currency(1)		6%	16%
8%3%		20%
4%				22%
49%		13%
36%				6%
			17%
EUR		HE Cogen 17%
USD		Solar	High Efficiency Cogen
BRL Hedged to USD
Wind	Gas
BRL
Other		Hydro	Coal
			Liquid Fuels
(1)	$873m LTM Q3'20 Adjusted EBITDA before Thermal and Renewables HoldCo expenses pro-forma for full year EBITDA of Mexican CHP acquisition			4
	completed in November 2019 as well as expected Western Generation Portfolio Acquisition in first year of operation ($88m EBITDA)