ContourGlobal : Inka 2020 FY Results - Investor Presentation

Inka - 2020 Results

April 2021

Disclaimer

This presentation, the information contained herein and the materials accompanying it (collectively, this "presentation") constitutes confidential information and is provided to you on the condition that you agree that you will hold it in strict confidence and not reproduce, disclose, forward or distribute it in whole or in part without the prior written consent of Energia Eolica S.A. (the "Company") and is intended for the recipient hereof only. The presentation is for information purposes only.

This presentation does not constitute or form a part of, and should not be construed as, an offer or invitation to subscribe for, underwrite or otherwise acquire, any securities of the Company or any member of the group of which it is part nor should it or any part of it form the basis of, or be relied on in connection with, any contract to purchase or subscribe for any securities of the Company or any member of the group of which it is part or with any other contract or commitment whatsoever. This presentation does not constitute an offering memorandum in whole or in part.

The information contained in these materials has been provided by 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 or trading 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-lookingstatements.

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.

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2020 Results

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2020 Results Executive Summary

Excellent operational and financial performance with continued high debt service coverage ratios

• Leading Health & Safety Performance: No Lost Time Incidents ("LTI"), Medical Treatment Incidents ("MTI") or Restricted Workday Case ("RWC") in 2020.
• Excellent wind resource: Cupisnique (83 MW) delivered at P17 and Talara (30 MW) delivered at P45, a 14% increase from 2019.
• Strong Financial Performance: 14.2% EBITDA increase in 2020 vs 2019 (2020: $35.6m; 2019: $31.2m), mainly driven by higher wind resource and PPA price increase.
• Ongoing deleveraging: Net leverage decreased from 5.6x in 2019 to 4.8x in 2020. $6.3m amortization in 2020. DSCR 1.4x.
• Resilient Business: No meaningful disruption to operations or maintenance schedules as a result of COVID in 2020, and none expected in 2021.
• Investment Grade Rating: Fitch has affirmed Energia Eolica S.A.'s (Inka) senior notes' investment grade credit rating at BBB-, driven by "operational and financial performance over five operating years" and "due to its strong energy generation coupled with stable cost profile".

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H&S Performance

No Lost Time or Recordable Incidents in 2020, continuing Inka's strong

track record of always placing Health and Safety first

Committed to the Highest Safety Standards, including significant investment in H&S trainings

H&S PERFOMANCE

3,4033,321

1,6971,767

148	188	197	221
2017	2018	2019	2020
		Safety Inspection		Training Hours

• 0 LTI (Lost Time Incidents)
• 0 RI (Recordable Incidents)
• 0 First Aid Incidents

1. Lost Time Incident (LTI) Rate shows the recordable lost time injuries per 200k labor hours
2. Recordable incidents (RI) category includes the following Health & Safety incident: Medical Treatment Incidents, Restricted Workday Case Incidents and Lost Time Incidents.

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2020 Results

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1. Operations

Talara Wind Site (Peru) 30.8MW

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