Falck Renewables S p A : Proxy/sub-proxy form to the appointed representative

FALCK RENEWABLES S.p.A.

PROXY/SUB-PROXY FORM TO THE APPOINTED REPRESENTATIVE FOR REPRESENTATION AT THE SHAREHOLDERS' MEETING pursuant to article 135-novies of Legislative Decree No. 58/1998

In accordance with Article 106, paragraph 4, Decree Law no. 18 of 17 March 2020 converted with modifications by Law 24th April 2020 no. 27 and as extended by effect of art. 6, D.L. 105/2021 converted with modifications by Law no. 126/21, the participation in the Shareholders' Meeting of those who have the right to vote, is allowed exclusively through the Appointed Representative pursuant to Article 135-undecies of Legislative Decree no. 58/1998. Pursuant to the abovementioned Decree, the Appointed Representative may also be granted proxies and/or sub-proxy pursuant to Article 135-novies of Legislative Decree no. 58/1998 ("TUF"), as an exception to Article 135-undecies, paragraph 4, of the TUF, by signing this proxy form

Declaration of the Appointed Representative - Spafid declares that it has no own interest in the proposed resolutions being voted upon. However, in view of (i) the contractual relations existing between SPAFID and the Company with regard, in particular, to the provision of technical assistance in shareholders' meeting and additional services, as well as (ii) the existence of fiduciary mandates by virtue of which Spafid could hold participations in the Company on behalf of its customers, on a fiduciary basis, in relation to which it will exercise the right to vote at the Shareholders' Meeting on the basis of specific instructions issued by the fiduciaries in order to avoid any subsequent disputes about the supposed existence of circumstances able to create a conflict of interest under Article 135-decies, paragraph 2, f) of Legislative Decree no. 58/1998, Spafid expressly declares that, if unknown circumstances should occur or in the event of amendment or additions to the proposals put forward to the Shareholders' Meeting, it does not intend to cast a different vote from that indicated in the instructions. If the delegating party does not provide specific instructions for such cases by indicating them in the appropriate boxes, the instructions provided shall be deemed to be confirmed as far as possible. If it isnot possible to vote according to the instructions provided, Spafid will abstainon such matters. In any case, in the absence of voting instructions on some of the items on the agenda, Spafid will not vote for such items.

With reference to the Extraordinary and Ordinary General Meeting of FALCK RENEWABLES S.p.A. to be held at Company's offices in Milan (Italy), Corso Venezia 16, on 14 December 2021, at 04:30 p.m., single call, as set forth in the notice of the shareholders' meeting published on the Company's website at https://www.falckrenewables.com/en/corporate- governance/shareholders-meetings#14-12-2021,on 13 November 2021, and, in abridged form, in the Italian daily newspaper "MF/Milano Finanza", on 13 November 2021, and having regard to the Reports on the items on the Agenda made available by the Company(§)

Please note: This form may be subject to change following any Integration of the agenda of the shareholders' meeting and presentation of new proposed resolutions pursuant to Article 126-bisLegislative Decree 58/1998, or individual proposed resolutions, in accordance with the terms and procedures indicated in the Notice of Call.

PROXY FORM

Complete with the information requested at the bottom of the form (§)

I, the undersigned (party signing the proxy)	(Name and Surname) (*)
Born in (*)	On (*)	Tax identification code or other identification if foreign (*)
Resident in (*)	Address (*)
Phone No. (**)	Email (**)
Valid ID document (type) (*)	Issued by (*)	No. (*)
(to be enclosed as a copy)

1. The Company will process the personal data in accordance with the information published on the Company's website at the following address https://www.falckrenewables.com/, in the
   "Corporate Governance" section - Shareholders' meeting 14-12-2021.
   (*) Mandatory. (**) It is recommended to fill.

Società per Amministrazioni Fiduciarie SPAFID S.p.A.

Registrated in the securities account (1) n. ___________________ at the custodian ___________ ABI ________ CAB _____

FALCK RENEWABLES S.p.A.

PROXY/SUB-PROXY FORM TO THE APPOINTED REPRESENTATIVE FOR REPRESENTATION AT THE SHAREHOLDERS' MEETING pursuant to article 135-novies of Legislative Decree No. 58/1998

in quality of (tick the box that interests you) (*)

shareholder with the right to vote

OR IF DIFFERENT FROM THE SHARE HOLDER

• legal representative or subject with appropriate representation powers (copy of the documentation of the powers of representation to be enclosed)
• pledge bearer  usufructuary  custodian  manager other (specify) ………………………………………………………………………………………………

		Name Surname / Denomination (*)
(complete only if
			Tax identification code or other identification if foreign (*)
the shareholder is		Born in (*)	On (*)
different from the

proxy signatory)

Related to

Registered office / Resident in (*)

No. (*) ___________________ shares Falck Renewables - ISIN

IT0003198790

referred to the communication (pursuant to art. 83-sexies Legislative Decree n. 58/1998) (2) No.. __________________________ Supplied by the intermediary: _________________________________

(to be filled in with information regarding any further communications relating to deposits)

DELEGATES/SUB DELEGATES SOCIETÀ PER AMMINISTRAZIONI FIDUCIARIE SPAFID S.P.A. ("SPAFID"), with registered office in Milan, Tax Code no. 00717010151, to participate and vote in the Shareholders' Meeting indicated above as per the instructions provided below.

DECLARES

• that he/she/it is aware that the proxy to the Appointed Representative might contain voting instructions even only in respect of some resolution proposals in the agenda and that in this case, the vote shall be expressed for the sole proposals in respect of which instructions have been granted;
• to have requested from the custodian the communication for participation in the Meeting as indicated above;
• that there are no reasons for incompatibility or suspension of the exercise of voting rights;
• (in the case of sub-delegation) to be in possession of the originals of the proxy forms conferred on him/her and to keep them for one year available for possible verification.

AUTHORIZE Spafid and the Company to the treatment of his/her/its personal data for the purposes and under the terms and conditions specified in the provided information.



(Place and Date) *

(Signature) *

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FALCK RENEWABLES S.p.A.

PROXY/SUB-PROXY FORM TO THE APPOINTED REPRESENTATIVE FOR REPRESENTATION AT THE SHAREHOLDERS' MEETING pursuant to article 135-novies of Legislative Decree No. 58/1998

VOTING INSTRUCTIONS

intended for the Appointed Representative only - Tick the relevant boxes

The undersigned (3) (Personal details)	__________________________________________________________________________________________________________
(indicate the holder of the right to vote only if different -
name and surname / denomination)	__________________________________________________________________________________________________________

Hereby appoints Spafid to vote in accordance with the voting instructions given below at Extraordinary and Ordinary General Meeting of FALCK RENEWABLES to be held at Company's offices in Milan (Italy), Corso Venezia 16, on 14 December 2021 at 4:30 p.m., on single call by FALCK RENEWABLES S.p.A.

RESOLUTIONS SUBJECT TO VOTING

Extraordinary Part

1. Proposal to amend Article 1 of Articles of Association. Related and consequent resolutions.

Proposal of the Board of Directors		Tick only one	 In Favour	 Against	 Abstain
	box
If circumstances occur which are unknown or in the event of a vote on amendments or additions to the resolutions submitted to the meeting
Tick only one box		Modify the instructions (express preference)
confirms the instructions	revokes the instructions	 In Favour : ___________________________		 Against	 Abstain

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FALCK RENEWABLES S.p.A.

PROXY/SUB-PROXY FORM TO THE APPOINTED REPRESENTATIVE FOR REPRESENTATION AT THE SHAREHOLDERS' MEETING pursuant to article 135-novies of Legislative Decree No. 58/1998

Ordinary Part

1. Proposal to amend the "2021 Remuneration Policy) contained in Section I of the Annual report on remuneration policy and compensation paid approved by

Shareholders' Meeting on April 29, 2021, pursuant to Article 123-ter, paragraph 3-bis, of Legislative Decree no. 58/98.

Proposal of the Board of Directors		Tick only one	 In Favour	 Against	 Abstain
	box
If circumstances occur which are unknown or in the event of a vote on amendments or additions to the resolutions submitted to the meeting
Tick only one box		Modify the instructions (express preference)
confirms the instructions	revokes the instructions	 In Favour : ___________________________		 Against	 Abstain



(Place and Date) *

(Signature) *

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FALCK RENEWABLES S.p.A.

PROXY/SUB-PROXY FORM TO THE APPOINTED REPRESENTATIVE FOR REPRESENTATION AT THE SHAREHOLDERS' MEETING pursuant to article 135-novies of Legislative Decree No. 58/1998

INSTRUCTIONS FOR THE FILLING AND SUBMISSION

The person entitled to do so must request the depositary intermediary to issue the communication for participation in the shareholders' meeting referred to the Art. 83- sexies, Legislative Decree 58/1998)

1. • The proxy must be dated and signed by the delegating party.
   • Representation may be conferred only for single meetings, with effect also for subsequent calls.
   • In the case of co-ownership of shares, the proxy must always be issued with the signature of all the co-owners.
2. Indicate the number of the securities custody account and the denomination of the depositary intermediary. The information can be obtained from the account statement provided by the intermediary.
3. Indicate the Communication reference for the Meeting issued by the depositary intermediary upon request from the person entitled to vote.
4. Specify the name and surname/denomination of the holder of voting rights (and the signatory of the Proxy Form and voting instructions, if different).
   ___________________________________________________________________________________________________________________________________________________________________
   The proxy with the relating voting instructions shall be received together with:
   - a copy of an identification document with current validity of the proxy grantor or
   - in case the proxy grantor is a legal person, a copy of an identification document with current validity of the interim legal representative or other person empowered with suitable powers, together with adequate documentation to state its role and powers,

(in the event of a sub-proxy, the following must be sent to the Appointed Representative as an annex to the sub-proxy form: i) the documentation indicated in the preceding paragraph, referring to both the holder of the voting right and his/her proxy; ii) a copy of the proxy issued by the holder of the voting right to his/her proxy)

by one of the following alternative methods:

1. transmission of an electronically reproduced copy (PDF) to the certified email [e-mail](subject line "Proxy for Falck Renewables 2021
   Shareholders' Meeting") from one's own certified email address (or, failing that, from one's own ordinary email address, in which case the proxy with voting instructions must be signed with a qualified or digital electronic signature);
2. transmission of the original, by courier or registered mail with return receipt, to the following address: Spafid S.p.A., Foro Buonaparte 10, 20121 Milan (Ref. "Proxy for
   Falck Renewables 2021 Shareholders' Meeting"), sending a copy reproduced electronically (PDF) in advance by ordinary e-mail to [e-mail](subject line: "Proxy for Falck Renewables 2021 Shareholders' Meeting")

The proxy must be received no later than 6:00 p.m. on the day before the date of the meeting (and in any case before the opening of the meeting). The proxy pursuant to art. 135-novies, Legislative Decree no. 58/1998 and the related voting instructions may always be revoked within the aforesaid deadline.

N.B. For any additional clarification regarding the issue of proxies (and in particular regarding how to complete and send the proxy form and voting instructions), authorized to participate in the general meeting can contact Spafid S.p.A. by email to the following address [e-mail] by phone at the following telephone numbers (+39) 02.80687319 - 02.80687335 (during open office hours from 9:00 a.m. to 5:00 p.m.).

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