Falck Renewables S p A : Italian Investment Conference 2021

Company Presentation

Italian Investment Conference 2021

18 - 19 May 2021

Forward-Looking Statements

This presentation contains certain forward-looking statements that reflect the Company's management's current views with respect of future events and financial and operational performance of the Company and its subsidiaries. These forward-looking statements are based on Falck Renewables S.p.A.'s current expectations and projections about future events and have been prepared in accordance with IFRS currently in force and the related interpretations as set out in the documents issued to date by IFRIC and SIC, with the exclusion of any new standard which is effective for annual reporting periods beginning after January 1st 2021. Because these forward- looking statements are subject to risks and uncertainties, actual future results or performance may differ materially from those expressed in or implied by these statements due to any number of different factors, many of which are beyond the ability of Falck Renewables S.p.A. to control or estimate precisely, including changes in the regulatory environment, future market developments, fluctuations in the price and availability of fuel and other risks. You are cautioned not to place undue reliance on the forward-looking statements contained herein, which are made only as of the date of this presentation. Falck Renewables S.p.A. does not undertake any obligation to publicly release any updates or revisions to any forward-looking statements to reflect events or circumstances after the date of this presentation. The information contained in this presentation does not purport to be comprehensive and has not been independently verified by any independent third party.

This presentation does not constitute a recommendation regarding the securities of the Company. This presentation is not intended to be/does not contain any offer, under any applicable law, to sell or a solicitation of any offer to buy or subscribe any securities issued by Falck Renewables S.p.A. or any of its subsidiaries.

Neither the Company nor any member of the Company's Group nor any of its or their respective representatives, directors or employees accept any liability whatsoever in connection with this presentation or any of its contents or in relation to any loss arising from its use or from any reliance placed upon it.

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Falck Renewables

at a glance

We are an international pure play company working in the renewable energy sector. We

develop, design, build and manage plants

that generate clean power.

We provide highly specialized energy management and downstream services to

both energy producers and consumers and we use our know-how to manage third- party assets, both technically and commercially.

Our Mission

Through the generation of clean energy and the provision of management services along the entire renewable energy value chain, we want to create shared and lasting value for all our stakeholders, while fully respecting the environment that surrounds us.

Energy sustainability from INNOVATION

Global COMPETENCEfor a sustainable future

Maximum CAREfor our stakeholders

LEADERSHIPfor a carbon free development

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Ownership and Corporate Governance

CURRENT OWNERSHIP

291.4M

SHARES

	FALCK SPA 60.0%		FREE FLOAT 39.2%

TREASURY SHARES 0.8%

BOARD COMPOSITION

BoD Committees

• Sustainable Strategy

• Remuneration

• Control and Risks

Executive Director

Non Executive Director

Independent Dir. according to T.U.F. and

Corporate Governance Code

The Board of Directors consists of twelve members. Seven of them are Independent Directors (58%) and five are women (42%); one was appointed Lead Independent Director.

The new Board of Directors - as approved at The Shareholders' Meeting on 7 May 2020 - reflects the Group's international presence.

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Sustainability at the Core

It is not only about what we do, but how we do it, and the values that we live by.

Our Sustainability Charter

1. We promote the local workforce and supply chain
2. We welcome the participation of communities in our business, also through ownership schemes
3. We back community projects - from social & educational

to environmental & infrastructural - and we encourage communities to share project practices to maximize benefits for others

1. We share our knowledge of energy sustainability to spread the word about its importance
2. We ensure all our operations have the minimum impact on the environment

In our strategic plan - the Roadmap 2025 - we have taken 4 main sustainability commitments, a.k.a. sustainability strategic goals. They will be measured over the plan period, verifying progress with key performance indicators (KPIs).

KPIs

DISTRIBUTED	PROJECTS WITH A	AVOIDED CO2	HOURS OF UPSKILLING
ADDED VALUE*	SIGNIFICANT COMMUNITY	EMISSIONS***	AND RESKILLING PER
(€M)	ENGAGEMENT PROGRAM**	(MTCO2)	EMPLOYEE
	(%)		(HR./Y)

2020	170	45%	0.57	30
2025	OF PROJECTS
255	55%	1.36	40
	OF PROJECTS

	* To stakeholders such as staff, shareholders, creditors, central & local administrations, and local communities.
	** To be understood as the engagement of the local community through cooperative schemes, ownership schemes, benefit schemes or with the
	local enabling of sustainable energy consumption services (i.e. community energy PPA, access to net metering credit schemes, etc.).
	*** References of the emission factors applied : USA: "Emission Factors for Greenhouse Gas Inventories" (US EPA, 2020); EU: "Fattori di emissione
5	atmosferica di gas a effetto serra nel settore elettrico nazionale e nei principali Paesi Europei" [Atmospheric emission factors of greenhouse gases
and other pollutants from the power sector] (ISPRA, 2020); Norway: "Electricity disclosure 2018" (NVE-RME, 2020 update)..