Strategic Update

June 2022

Strategic Update - June 2022

Presenting team and agenda

João Manso

Ricardo Mendes

Ferreira

Neto

M&A and IR

CEO GreenVolt

GreenVolt

+35 years of experience

+20 years of experience

o/w +18 years in renewables

o/w +14 years in Altri Group

+25 years as top manager

o/w +9 years as CEO of EDPR

Selected relevant experience

Selected relevant experience

01

_Rights issue offer overview

02

_GreenVolt as a unique player in the new energy world

03

_GreenVolt's updated value proposition

2

01

Rights issue offer overview

Strategic Update - June 2022

01. Rights Issue offer overview

Changes in market and political environment enable an increased strategic ambition

Catalysts

  • Change in market conditions:
    • Geopolitical instability and restricted access to natural gas leading to energy price hikes and thus, acceleration in renewables
    • Governments acknowledge permitting is the main bottleneck for growth in renewables
    • Inflationary environment and volatility of raw material prices for construction lead to increased appetite to acquire projects at COD
    • Higher power prices incentivize long term PPAs and flourishing of DG which may eventually represent 25% of European consumption in 2030

Fine-tuning of GreenVolt's strategy that will continue to be focused on the 3 most promising areas of renewables, exploiting its competitive advantage:

      1. Wind & Solar Utility-scale: Development continues to be the segment which brings the biggest value added. However, envisaged sales at RTB/COD will be rebalanced to increase the weight at COD and decrease at RTB
      2. Distributed Generation: Boost growth, increasing GreenVolt's stake in a vast market key for the energy transition
      3. Residual Biomass: Optimization of the plants will continue to be on the center of the Company's strategy, while further acquisitions will be underweighted (but not excluded)
    • Acceleration of BP and delivery from 3.6 GW pipeline(1) at IPO to 6.6 GW(1) currently identified (+83% increase)
    • Higher growth and profitability than expected (vs. IPO's 2025 targets) keeping a solid balance sheet under a conservative financial policy
  1. Probability-weightedpipeline. Excludes USA and Germany.

4

Strategic Update - June 2022

01. Rights Issue offer overview

The announced capital increase will allow accelerating the strategy, keeping a sound financial policy

The Company intends to use the proceeds from the Offer to speed up the

roll out of its revised development plan,

now comprising a 6.6 GW pipeline(1), of which 2.7 GW are expected to reach RTB/COD by 2023, and a reinforcement of the DG vertical

The Company intends to use the proceeds to partially finance the equity portion of certain projects until they can be self-funded through internal cash generation

In addition, this capital injection will provide the Group with additional liquidity following the growth programme pursued in recent months

€100m

Uses of funds

(1) Probability-weighted pipeline. Excludes USA and Germany.

5

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Greenvolt Energias Renovaveis SA published this content on 09 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 June 2022 19:21:02 UTC.