Encavis Online Capital Markets Day: 05 Management Summary

Management Summary including Outlook 2020e . . . and beyond

Encavis AG, Online Capital Markets Day 2020, www.encavis.de, April 22, 2020

Energy consumption increases day-by-day . . .

3

Unique selling proposition - USP of ENCAVIS business model

Combining smart finance and sustainable investments in the renewable sector

4

State-of-the-art infrastructure and technology result in stability, reliability and very low risk business model: Sustainable valuation of all assets and NO doubt on the Growth Strategy >> Fast Forward 2025

Minimal developing risks result in investment grade rating BBB-/stable outlook

Long-term (10Y) dividend policy reflects increasing cash flows from operations Revenue and earnings increase (5Y/CAGR >30%) with constant margins

NO impact of CoVid-19 on the operating business

Secured liquidity for the whole cash planning-period

NO interest rate risk (100% fit of financing to FiT/PPA)

Almost NO FX risk (GBP hedged until end of 2023)

Almost NO energy price risk (<3% of rev. 2020e)

Secured revenue based on FiT and PPA

Remote controlled operations

State-of-the-art IT infrastructure

NO risk

at business as usual

5

Worldwide growth in generating capacity of renewables by technology

Capacity growth				82 %
in GW
1000			68 %
				44
800		45 %	45	119
600			215
28 %			438
400		31	260
200	14	176
36	285	321
	92	134
0	39
1994 - 2004	2005 - 2010	2011 - 2016	2017 - 2022

Percentage of PV/Wind of total

Other

Hydropower

Solar

Wind

Source: International Energy Agency 2017

. . . resulting in growing demand for Green Energy

like a Tsunami

7

Outlook 2020e

. . . and beyond

8

Moderate growth expected for FY 2020e vs FY 2019 (wa = adjusted for weather effects)

2020 will be a year of transition in which the acquired PPA parks in Spain will have COD in Q3 or Q4 and new acquisitions don't contribute to 2020 P&L

Operating figures	FY 2019		Weather adjusted	Guidance FY 2020e		Change
(in EUR million)			FY 2019 (wa)			Guidance
						FY 2020e /
						FY 2019 (wa)
Revenue	273.8		263.3	> 280.0		+ 6.3%
Oper. EBITDA	217.6		210.6	> 220.0		+ 4.5%
Oper. EBIT	132.2		125.2	> 130.0		+ 3.8%
Oper. EPS	0.43		0.40	0.41		+ 2.5%
Oper. Cash flow	189.3			> 200.0

• Large Spanish projects Talayuela and La Cabrera are under construction in 2020 and distribute FY revenue and operating cash flow to the Group in 2021

9

ENCAVIS Growth Strategy: >> Fast Forward 2025

> Doubling of signed own capacity of 1.7 GW (2019) to 3.4 GW

• Increasing revenue (wa) from 260 to 440 million EUR
• Increasing oper. EBITDA (wa) from 210 to 330 million EUR
• Oper. EBITDA margin of 75%
• Increasing oper. EPS (wa) from 0.40 EUR

to 0.70 EUR	> Growth rate of signed own capacity of 12% CAGR

• Revenue (wa) growth rate of 9% CAGR
• Oper. EBITDA (wa) growth rate of 8% CAGR

> Oper. EPS (wa) growth rate of 10% CAGR > Solid equity ratio of 24% or more

10

Growth strategy based on 2019 fundamentals only

Profitable growth outside Europe

Profitable business models in storage technology

Potential reserves in equity capital market transactions and dividend policy post 2021

Further opportunities in

Mergers & Acquisitions

Base case scenario:

>> Fast Forward 2025

The use of

infinite resources - this is our future

12

Speaker
Dr. Dierk Paskert	Dr Christoph Husmann
Chief Executive Officer	Chief Financial Officer
CEO since Sep 2017	CFO since Oct 2014
Reappointed until Aug 2025	Reappointed until Sep 2025

CEO Rohstoffallianz GmbH	Member (CFO) and later CEO of the Management Board of
Member of the Management Board of E.ON-Energie AG	HOCHTIEF Projekt Entwicklung GmbH
SVP Corporate Development of E.ON AG	Head of Corporate Controlling and M&A of STINNES AG and
Member of the Management Board of Schenker AG	HOCHTIEF AG,
	Controlling of VEBA AG

The information provided in this document has been derived from sources that we believe to be reliable. However, we cannot guarantee the accuracy or completeness of this information and we do not assume any responsibility for it. Encavis AG assumes no liability for any errors or omissions or for any resulting financial losses. Investments in capital markets, in particular in stock markets and futures markets, are fundamentally associated with risks and a complete loss of the invested capital cannot be ruled out. Recommendations provided herein do not represent an offer to buy or sell and are not intended to replace comprehensive and thorough advice before making a decision to buy or sell. Copies of the content of this presentation, in particular prints and copies or publications in electronic media, will only be authorized by written consent from Encavis AG.

13

Appendix:

14

Conservative acquisition strategy for markets with PPA projects with increasing importance

We acquire ready-to-build,turnkey-projects

or existing parks and negotiate Power Purchase Agreements with companies with very good ratings and operate them over their technical and commercial life time

Our experience from PPA negotiations in Spain (500 MW PV) and UK (40 MW PV) enables Encavis to move to emerging PPA markets like Italy and - in time to come - Germany and France

IRR minimum requirement depends more on risk distribution and rating of the off-taker, to a lesser extent on regulatory risk

>7%

>8%	Post tax equity IRR for PPA
>8%

PV projects/higher for wind

Market presence for PPA

Market entry planned for PPA

15

ENCAVIS is focused on growth to skim Economies of Scale

Portfolio is actively managed by international and experienced team (examples)

Measures implemented	Status
Negotiations with local authorities by Encavis workforce comprising native speakers	Ongoing
from all countries where Encavis is active
Financial optimization by releasing reserve accounts due to high performance	Q4 2018 -
of parks and trust in Encavis	Q2 2019
Optimization of insurance by auctioning all insurance contracts of Encavis parks
in a European wide process. Leading to an improved coverage and reduction of	2018
premiums by 40 per cent
Optimization of low level operation contracts by clustering parks and auctioning	2018
service with local suppliers
Digitalization of the business - improving technical availability by remote control
of the parks, implementing a digital backbone for data flow from the parks via	Ongoing/2018
accounting into IFRS statement

16

ENCAVIS is focused on growth to skim Economies of Scope (1)

Constant monitoring of parks

Integration of all parks into our centralized 24h control room

Calculation of yield reports and simulations based on actual irradiation levels

Handling of failure reports 365 days a year

Management of fast response fault clearance actions

Onsite visits

Failure analysis and repair works directly on site are conducted by experienced and trained team

Our service vehicles hold comprehensive stock of spare parts

For major repairs teams of the component manufacturers are requested (for instance defective power sections)

17

ENCAVIS is focused on growth to skim Economies of Scope (2)

Constant improvement of parks

Regular screening of solar parks with GPS navigated drones with thermos cameras to detect hotspots

Re-energization of PV parks to stop degradation of modules

Investment into winglets to improve rotation of wind blades in our wind farms to improve energy production

Maintenance

For solar parks either maintenance by own experienced employees or supervision of trained subcontractors

For wind parks maintenance usually done by turbine manufacturers

• regular maintenance service supervised by onsite accompaniment of our own experienced employees

18

The "golden end" of ENCAVIS' power plants

Illustration of the different cash flows of a solar park (PV)

In EUR

"golden end"

000'

Closing of

Financial Obligation

debt

reserve

(loan)

accounts

Interest

FIT

EBT

End of

CF to Equity

t2

t3

t4

t5

t6

t7

t8

t9

t10

t11

t12

t13

t14

t15 t16

t17

t18

t19

t20

Time (t)

Assumptions

Solar-park connected to the grid in 2010 with FIT for 20 years (t20)

Park was bought in Q2 2011, 2012 first full year of operation (t2)

Non-recourse project financing will be serviced and paid-off by the park

• As the loan ispaid-off during the FIT-period, parks are very profitable in the "golden end"

Segments	Highlights in H1 2019
						Acquisition of another solar park in The Netherlands "Zierikzee"
						+14 MW increases generation capacity in the Dutch market to >100 MW
						Sale of 49% each in four different wind parks of Northern Germany
						to Versicherungskammer Bayern processed by Encavis Asset Management
						Acquisition of 30% stake in Stern Energy SpA -
						Strategic step forward to strengthen the technical solar services business
						Encavis AG received investment grade issuer rating (BBB-) from Scope Ratings
						Successful issuance and placement of EUR 105 million of bilateral debt
						and registered bonds of Encavis AG to banks and institutional investors

20

Sale of 49% each in four different wind parks of Northern Germany to Versicherungskammer Bayern processed by Encavis Asset Management

• Direct asset investments of institutional funds /

ENCAVIS AG will keep the 51% and manage the parks

• Recycling of cash: Total cash inflow of EUR 24 million
• Diversification of local wind risk position
• IFRS book values slightly exceeded
• Book Values according to German GAAP (HGB)

Sales Price today (100%)	50.72 EUR million
Book Value today (100%)	38.72 EUR million
Profit	+ 12.00 EUR million
respectively	+ 31.0 %

			Debtstedt	Breitendeich
			Lunestedt
				Briest
Wind Park	Capacity	Date of
acquisition
Briest (I)	3.2	MW	2017/07/01
Breitendeich (II)	6.4	MW	2016/07/01
Debtstedt (III)	18.0	MW	2016/06/19
2017/11/21
Lunestedt (IV)	38.4 MW	2015/11/13
TOTAL	66.0 MW

	Segments	Highlights in H2 2019 (I)
											Banks subscribed special fund and enable additional investments
											of more than EUR 100 million by Encavis Asset Management
											Encavis Asset Management advised two Luxembourg special funds on
											investments in wind (14 MW) and solar (22 MW) parks in Germany and France
											Encavis AG tapped its Hybrid Convertible Bond in an aggregated nominal amount
											of EUR 53 million up to EUR 150.3 million and received EUR 60 million in cash
											Encavis AG signed long-term power purchase agreement (PPA)
											for 10 years for Spanish solar park Talayuela (300 MW capacity)
											Encavis AG signed additional long-term power purchase agreement (PPA)
											for 10 years for Spanish solar park Cabrera (~200 MW capacity) with Amazon

Segments	Highlights in H2 2019 (II)
						Encavis AG extended CEO & CFO contracts by a further five years
						until autumn 2025 at an early stage
						Encavis AG resolved to a small capital increase of ~4% for growth financing
						and gained Versicherungskammer Bayern as new major shareholder (4%)
						and received gross proceeds of around EUR 48 million in cash
						Encavis AG acquired an operational 81 MW wind farm portfolio in Denmark
						expecting revenues of EUR 13.4 million p.a. based on a normalized year
						Enterprise Value of EUR 108 Million with an equity share of EUR <52 million
						Encavis Asset Management acquired five German solar parks (35 MW)
						including the first subsidy-free solar park of BayWa r.e. for the Encavis
						Infrastructure Fund II S.A. (SICAV-RAIF)

Segments	Highlights in Q1 2020
						Encavis AG disclosed its growth strategy: >> Fast Forward 2025
						that set concrete targets and growth rates in its strategic outlook
						Encavis and its strategic development partner Solarcentury celebrated
						the Foundation Stone at Spanish solar park Talayuela (300 MW capacity)
						Scope Ratings confirmed its investment grade issuer rating BBB-
						with stable outlook on Encavis AG
						Encavis announces dividend proposal to the AGM for fiscal 2019 of EUR 0.26
						offering the scrip dividend for the seventh time in a row will grant shareholders
						maximum flexibility to choose receiving cash dividend or new shares
						Encavis Asset Management acquired three solar parks in The Netherlands and
						one wind farm in Germany with a total generating capacity of more than 55 MW
						for the Encavis Infrastructure Fund II Renewables Europe II

24

ENCAVIS success story - steady and dynamic growth path

		CAGR >29% 273		CAGR >34%		CAGR >35%
			249
			222								217
													187
													167
			142													132
113						106				114
													100
										87
72																55 62
57								55
									36						22	35
	Revenue (EUR mill)		Oper. EBITDA (EUR mill)	Oper. EBIT (EUR mill)
		2013			2014			2015			2016			2017		2018			2019

CAGR >30%

CAGR >23%

CAGR >17%

2,860

2,649

2,520

2,354

										723
1,319					699687
							609
986
593						257								22 2426
				244
											15 1820
						207						10
Balance Sheet (EUR mill)	Equity (EUR mill)		Div./Share (EUR cent)
		2013		2014		2015			2016		2017		2018		2019

Securing growth capital (2016 - 2019) while keeping a strong equity ratio

Financing measures implemented (in EUR million)

2019	48				105				60
												Bilateral debt EUR 45 million and
2018	50	28						registered bonds EUR 60 million
												(12.5 years & 15 years)
2017	97					44
2016	49	20	25
			(small) Capital Increase			Bonded and "Green" Loans			Hybrid Convertible		Credit Lines

Continuously growing operating business backed by solid equity ratios

	Equity	Balance sheet total
2019		2,859.9
722.7
2018		2,649.1
687.1
2017		2,519.7
698.6
2016		2,353.8
608.6
2015		1,324.8
257.0

*) Equity ratio of 25.3% according to temporary treatment of 10-year lasting PPA by IAS 28 / Effect is expected to be fully compensated with COD in second-half of 2020 /

Correct treatment of PPAs result in an equity ratio of 26.9%

Equity ratio

25.3%/26.9%

25.9%

27.7%

25.9%

19.4%

27

Explanation of accounting rule of 10-year PPA by IAS 28

Source: Audited Management Report, Encavis AG Annual Report 2019, page 31

[…] In 2018 and 2019, Encavis acquired 80% shareholdings via Encavis Iberia GmbH in each of the project companies Talayuela and Cabrera, both of which are building a solar park in Spain. The purchase price for the two Spanish investments was determined together with the partner Solarcentury using financial models that already take into account the PPAs to be concluded in the expected inflows. […]

In the 2019 financial year, both companies concluded a PPA in the form of a derivative for a period of ten years, in which the fixed electricity purchase price is presently below the current market price level, but at the level of the joint valuation model with Solarcentury and thus the assumptions of the purchase price.

In the context of equity accounting, the derivatives with a negative market value recognised in the balance sheets of both participating interests mean that, following a complete reduction of the equity approaches (due to the attributed pro rata results) in accordance with IFRS regulations, the associated loans are also reduced in part with no effect on income. The recognition of the derivatives in the balance sheet is separate from the determination of the investment values in which the effects of the PPAs were already included in the purchase price.This consolidation technique does not in any way lead to the intrinsic value of the participating interests being impaired.

The current equity ratio of 25.3% would be 26.9% without the recognition of derivatives at the level of the Spanish investments.

28

ENCAVIS is an Independent Power Producer (IPP) from renewable energy sources (solar/wind) Business model: risk structure of an investment over time (solar/wind)

Risk

+

-

Project life cycle

Project Developer

Investor & Operator

Completion

risk

Technical

risk

Production risk	Dismantling
	risk

Planning

Construction

Operation

Dismantling

Selected risks

COD Connection on the grid

29

Strategic Partnerships secure future growth with a pipeline volume ~2.5 GW over three years

> Strategic partnerships with several project developers:

Target markets of the developing partnerships

• • Aurora, GreenGo, Greifensolar, LTService, Psaier.Energies, Solarcentury, Stern Energy, . . .
• Pipeline of ~2.5 GW in total with projects in Europe
• Projects realised in Spain and Denmark
• More than 580 MW of pipeline volume

realised in less than one year

Partnership

Participate & accelerate

Projects realised

> Standardisation of processes	PV park in
reduces transaction costs
. . . . .
Encavis	Developer

Finance	Develop
& operate	& build

30

NO impact of CoVid-19 on the operating business of generating energy from renewable resources

Operating areas Potential impact of CoVid-19 . . .

Remote controlled operation of ground mounted PV and onshore wind parks →NO risk at business as usual / The sun is shining - The wind is blowing

Secured revenues based on Feed-in-Tariffs for remaining 13 years (on average) and Power Purchase Agreements (PPAs) for 10 years

Secured liquidity for the whole cash planning (covering the next 18 months) and IT-based payment system TIS in use

31

ENCAVIS is well prepared for turbulent markets

Operating areas Potential impact of CoVid-19 . . .

Very limited impact on guidance 2020e by delayed connection to the grid of the two PV parks under construction in Spain by maximum two months until years-end Worst case in delay this year would result in a negative sensitivity on the EPS for 2020e of EUR 0.01 / Force majeure would shift the PPA to starting point COD

Macro hedges in all parks limit currency exposure down to dividend payments Currency exposure is limited to Danish Crown (DKK) and British Pound (GBP) While DKK is very stable, the volatile GBP is hedged already until end of 2023 →no currency risk

Technical maintenance of PV parks by our technical service unit (ETS / Stern

Energy) maybe affected to a minor extend of a few weeks delayed services

• Sustainable valuation of all assets and NO doubt on the Growth Strategy >> Fast Forward 2025

32

ENCAVIS #1 among the top 70 European solar PV portfolio owners is paving the way for attractive growth financing in the future

New ESG investors

First"Green Schuldscheindarlehen"

of EUR 50 million sucessfully placed in 2018

Bond certified byClimate Bond Standard

Executive Board

Encavis got aPrimel-Label by ISS-oekom

Investment grade issuer rating confirmed in 2020

Encavis received Investment Gradeissuer rating by Scope Ratings (BBB-) initiated in 2019

Rating reflects Encavis'risk-adjusted business model,

regional diversification as well as the high proportion of non-recoursefinancing

Strong creditworthiness revealed

Positive impacton financing conditions realized

33

Earnings increase with almost constant margins

Revenue

EUR million 250

200

150

100

50

0

CAGR

72.1 55.4/76.8 %

34.6

48.0 %

Oper. EBIT

+ 30.7 %

112.8

86.8/76.9 %

55.4

49.1 %

Oper. EBITDA

+ 31.5 %

222.4

166.8

141.875.0 %

106.1

74.8 %

100.4

61.645.1 %

43.3 %

+ 30.6 %

248.8

186.9

75.1 %

113.7

45.7 %

273.8Revenue

217.6Operating

79.5 % EBITDA

132.2Operating

48.3 % EBIT

2 01 4

2 01 5

2 01 6

2 017

2 01 8

2019

34

Dividend proposal of EUR 0.26 for FY 2019 fully in line with dividend target 2021

Majority (54.4 %) of shareholders preferred new ENCAVIS shares to cash dividend for FY 2018

Nominal dividend to increase by 50% (base-year 2016) to 30 EUR cent in 2021

Dividend policy reflects increasing cash flows from PV/Wind parks over time

50% increase of nominal dividend until 2021 (compared to 2016) based on the existing PV/Wind park portfolio as of March 31, 2017

Further acquisitions of PV/Wind

0.05

parks will positively contribute to the dividend potential

0.30
0.26
0.24
0.22
0.20
0.18
0.15
0.10
0.08

Dividend (EUR cent/share)

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

35

Strategic outlook:

>> Fast Forward 2025

36

Guidance FY 2020e by Business Segments

Operating

Solar Parks

Technical

Wind Parks

Asset

HQ

P & L

Services

Management

(in EUR

million)

FY

FY 2019

Guidance

FY

Guidance

FY

FY 2019

Guidance

FY

Guidance

FY

Guidance

2019

(wa)

2020e

2019

2020e

2019

(wa)

2020e

2019

2020e

2019

2020e

Revenue

200.1

186.0

> 190

4.7

> 4

63.1

66.7

> 74

11.6

> 12

-

-

EBITDA

167.3

156.7

> 159

1.5

> 2

51.9

55.4

> 62

5.6

> 5

- 8.6

< - 9

EBIT

104.9

94.3

> 95

1.4

> 2

23.8

34.0

> 38

5.0

> 5

- 9.5

< - 10

• Based on average meteorological conditions and the already secured solar park and wind farm portfolio as of March 2020

37

ENCAVIS Growth Programme: >> Fast Forward 2025

Growth Initiative

• Investment in RTB and securingearly-stage projects primarily focused on PPA markets
• Ongoing opportunistic acquisitions in FiT markets
• European focus for the time being
• Disposal of minority participations in projects (mainly wind farms) to diversify local wind risk and to recycle cash

Economies of Scale and Scope

• Optimisation of O&M cost
• Optimisation ofSPV-financing
• Cash pooling

38

Strong growing PPA-markets - ENCAVIS is a European first mover in solar

Pillars of the Encavis Growth Strategy >> Fast Forward 2025

Encavis has secured preferred access to know-how for PPA by establishing a dedicated in-house competence team and by investing in market leading competence platform Pexapark (CH)

Leveraging knowledge and network as experienced investor based on recently signed PPAs with a leading European Utility and Amazon for in total 500 MW of Spanish solar parks

Strong Balance Sheet with equity ratio > 24% giving corporates adequate comfort to handle risks from long-term PPA contracts

Access to early stage projects without taking direct development risk by signing numerous partnership agreements with exclusive rights in Italy, France, Spain, Netherlands, Denmark and Germany

39

Selected measures to fulfill >> Fast Forward 2025

Pipeline	> Currently several strategic partnerships with developers signed
	> Pipeline of more than 2.5 Gigawatt (GW) minimum secured
Capacity Growth	> 1.7 GW of signed own capacity end of 2019 will be doubled
	to 3.4 GW end of 2025
	> Thereof currently 1.2 GW connected to the grid,
	end of 2020 1.7 GW and approx. 3.0 GW end of 2025
Recycling of Cash	> Sale of minority stakes up to 49% will be continued
	> Doubled capacity incl. diversified local wind risks
Recycling of Debt	> Reduction of EUR ~100 million of debt p.a. at SPV level offers headroom
	for new debt in the same amount at corporate level at better conditions

40

The Encavis share

An attractive investment

41

ENCAVIS - One of the largest independent and listed European Renewable IPPs

Benchmarking by market capitalization (EUR million)

3,539
3,014				European listed renewable companies
				Listed yield companies
2,600	2,467
	1,839
	1,584
	1,379
	1,018	908
		767
			670
				587
					209

42

Entrepreneurial shareholder structure - strong and long-term anchor investors

Market Cap in EUR

~ 1.6 billion

# shares

137,039,147

73.4%

Free float therein: Management

ENCAVIS AG (0.4%) and . . .

Pool of

AMCO Service GmbH (Büll Family) with Dr. Liedtke Vermögensverwaltung GmbH

26.6%(Liedtke Family)

4.4% PELABA Anlagenverwaltungs

GmbH & Co. KG (Heidecker Family)

4.0% Versicherungskammer Bayern

3.5% Lobelia Beteiligungsgesellschaft /

Kreke Immobilien KG (Kreke Family)

3.1% DWS Investment GmbH, Frankfurt/Main

43

ENCAVIS share - Ten active coverages with eight "buy" recommendations

Coverage institution	Updated Ratings	Date (2020)	Target Price (EUR)
	Buy	Mar 30, 2020	15.00
	Buy	Mar 24, 2020	10.00
	Buy	Mar 23, 2020	11.00
	Buy	Mar 23, 2020	10.00
	Buy	Mar 20, 2020	11.20
	(Buy)	Mar 20, 2020	10.40
	Hold	Mar 20, 2020	8.00
		Jan 24, 2020
	Buy	Jan 10, 2020	12.50
Consensus	Further Ratings	Date (2019)	11.01 (updated only)
	Buy	Jan 10, 2019	7.20
Consensus			10.59 (all included)

• Further coverages of the ENCAVIS share are initiated . . .

44

ENCAVIS share with strong upward trend since mid of 2019 suffered also from capital market panic

175
165
155
145
135
125
115
105
95
85
75
65
22.04.19	22.05.19	22.06.19	22.07.19	22.08.19	22.09.19	22.10.19	22.11.19	22.12.19	22.01.20	22.02.20	22.03.20	22.04.20
			ENCAVIS	DAX	SDAX	ÖKODAX		Linear (DAX)

45

Date 2020	Event (I)
Apr 22	ENCAVIS Online Capital Markets Day
	2020, www.encavis.com
Apr 29	Bankhaus Lampe Online Investors Day,
	Brussels (BE)
May 05/06	Seydler Bank Online Investors Day,
	Stockholm (SWE) & Kopenhagen (DK)
May 13	Online Annual General Shareholders
	Meeting (AGM) of Encavis AG,
	Hamburg (GER)
May 19	Goldman Sachs Utilities Conference:
	Heading to Net Zero, London (UK)
May 20	Berenberg Online Conference USA 2020,
	Tarrytown NY (USA)
May 27	Interim statement Q1/3M 2020

Date 2020	Event (II)
May 28/29	Stifel MainFirst Investors Days,
	Oslo (NOR) / Helsinki (FIN)
Jun 02	Raiffeisen Centrobank Investors Day,
	Zurich (CH)
Jun 02/03	Asset Life Optimisation Forum, LDN (UK)
Jun 03/04	Stifel MainFirst Online Road Show,
	Milan (IT) / Madrid (ES)
Jun 17	Commerzbank Investors Day,
	Munich (GER)
Jun 18	Quirin Champions Conference 2020,
	Frankfurt/Main (GER)
	ODDO BHF Natixis Renewable Conference
	Paris (FR)
Jun 24	Raiffeisen Bank International
	Online Conference Schuldscheindarlehen
	(SSD), FFM (GER)

46

Date 2020	Event (III)
Aug 18/19	Bankhaus Lampe German Conference,
	Baden-Baden (GER)
Aug 26	Interim report Q2/6M 2020
Aug 27/28	Stifel MainFirst Investors Days,
	Amsterdam (NL) / (BeNeLux)
Sep 02/03	Commerzbank Sector Conference 2020,
	Frankfurt/Main (GER)
Sep 09/10	Stifel Cross Sector Insight Conference,
	London (UK)
Sep 12	Interest payment PNL 2018 "Green SSD"
Sep 13	Interest payment Hybrid Convertible
Sep 16	Raiffeisen Centrobank Investors Day,
	Zagreb (RO)

Date 2020	Event (IV)
Sep 21/22	Berenberg/Goldman Sachs
	German Corp. Conference, Munich (GER)
	Jefferies Equity-Linked Conference 2020,
	London (UK)
Sep 28-30	Stifel MainFirst Investors Days,
	Canada / West Coast USA
Oct 14	Jefferies European Mid-Cap Industrial
	Forum 2020, London (UK)
Oct 15/16	Jefferies Investors Days,
	Dublin/Edinburgh (IRL/UK)
Oct 19-23	Jefferies Investors Days,
	East Cost & Mid-West USA
Oct 26-29	Jefferies Investors Days,
	Scandinavia and Europe

47

Date 2020	Event (V)
Nov 9/10	CM-CIC Investors Forum, Paris (FR)
Nov 16	Interim statement Q3/9M 2020
Nov 16-18	German Equity Capital Market Forum,
	Deutsche Börse, Frankfurt/Main (GER)
Nov 23/24	Commerzbank Investors Days,
	Zurich/Geneva (CH)
Nov 24	DZ Bank Equity Conference, FFM (GER)
Nov 25/26	16th Structured FINANCE, Stuttgart (GER)
Nov 29	Berenberg European Conference 2020,
	Pennyhill Park, Surrey / London (UK)
Dec 11	Interest payment PNL 2015

Contact

Jörg Peters

Head of

Investor Relations &

Public Relations

Encavis AG

Große Elbstraße 59

D - 22767 Hamburg

Germany

T +49 (0)40 / 37 85 62 242	[e-mail]
M +49 (0)160 / 429 65 40	www.encavis.com

The information provided in this document has been derived from sources that we believe to be reliable. However, we cannot guarantee the accuracy or completeness of this information and we do not assume any responsibility for it. Encavis AG assumes no liability for any errors or omissions or for any resulting financial losses. Investments in capital markets, in particular in stock markets and futures markets, are fundamentally associated with risks and a complete loss of the invested capital cannot be ruled out. Recommendations provided herein do not represent an offer to buy or sell and are not intended to replace comprehensive and thorough advice before making a decision to buy or sell. Copies of the content of this presentation, in particular prints and copies or publications in electronic media, will only be authorized by written consent from Encavis AG.