Encavis : Factbook of Encavis AG

FY results 2021 above guidance - preliminary H1 2022 results high above previous year's key figures

Factbook FY 2021 / Preliminary Q2-6M 2022 Key Performance Indicators incl. Guidance FY 2022e,

August 5th, 2022

Improving efficiency and cost reduction through Economies of Scale and Scope

ENERGY

Energy forms the basis of our collective activity and work

CAPITAL

We invest capital to acquire wind farms and solar parks to generate attractive returns

VISION

We are working towards a future with decentralised power generation from wind power and solar energy

Encavis Asset

Management

Encavis

Technical Services /

Stern Energy

Encavis AG

01/08/2022 2

Agenda

01	Encavis at a glance & latest news of Q2-6M 2022	4
02	Consolidated Financial Statements FY 2021	15
03	The sun goes up: Sustainability at Encavis 2021	35
04	Strategic outlook: >> Fast Forward 2025	42
05	USP of Encavis' business model	52
06	The future is bright for Renewable Energies	73
07	New era: PPA - The growing market	81
08	Supportive meteorological effects	92
09	Highlights in 2022	96
10	NO impact of CoVid-19 on the business model	101
11	Appendix	104

3

Encavis at a glance & latest news of Q2-6M 2022

H1 2022 results are significantly above previous year's level based on planned capacity increases,

ongoing high electricity prices,

much better meteorological conditions and therefor better wind and solar performance compared to H1 2021

01 Encavis at a glance & latest news of Q2-6M 2022

Highlights in 2022: Acquisitions in own portfolio

» Encavis finally connected further two solar parks with a generation capacity of 24 megawatts (MWp)	Wind farms & Solar parks
to the grid in the Netherlands, that are part of the five solar parks acquired from Statkraft
in November last year. All parks benefit from the Dutch subsidy scheme SDE+ for the first 15 years.
The Netherlands' generation capacity increases to 180 MWp, as well as the further diversified
portfolio in Western Europe increases close to 1.9 gigawatts (GW) within the Encavis AG.

• The solar park Groß Behnitz, Brandenburg in Germany (25 MWp generation capacity) was connected to the grid in Q1/2022 according to plan.
• Encavis acquired two solar parks (105 MWp) in Denmark from European Energy A/S. Svinningegården (34 MWp subsidy-free), NW of Zealand, is already connected to the grid and Rødby Fjord (71 MWp), Lolland/SW of Zealand, was also connected to the grid in Q1/2022 and increases the generation capacity within the Encavis AG close to 2.0 gigawatts (GW).
• Encavis acquired Danish wind farm Svoldrup (11.5 MW) in the North of Jutland already connected to the grid. Encavis acquired yet five of the six wind turbines in total of the type Siemens 2.3-93 (2.3 MW each), 126 metres high each, that were built in 2010. All in an excellent technical condition. Revenue is fixed until end of 2023 by a pay-as-produced PPA. Encavis will fix another long-term PPA with a new party for the period post 2024.

01/08/2022 5