Holaluz Clidom S A : Presentación de resultados FY2023 y actualización T1 2024

The Rooftop Revolution

FY 2023 results and Q1 2024 update May 9, 2024

Forward looking statements

This communication contains forward-looking statements related to Holaluz (the "Company") These data do not represent estimates within the meaning of Commission Delegated Regulation (Eu) No. 2019/979 orNo. 2019/980. Such forward-looking statementsinclude, but are not limited to, statements related to: the Company's leadership team and talent development; the Company's financial and operating guidance and expectations; the Company's business plan, trajectory and expectations in 2022 and beyond, market leadership, competitive advantages, operational and financial results and metrics (and the assumptions related to the calculation of such metrics); the ongoing, anticipated, or potential impacts of the COVID-19 pandemic and its variants; the Company's momentum in the company's business strategies, expectations regarding market share, total addressable market, customer value proposition, market penetration, financing activities, financing capacity, product mix, and ability to manage cash flow and liquidity; the growth of the solar industry; the Company's ability to manage suppliers, inventory, and workforce; supply chains and regulatory impacts affecting supply chains; factors outside of the Company's control such as macroeconomic trends, public health emergencies, natural disasters, and the impacts of climate change; the legislative and regulatory environment of the solar industry and the potential impacts of proposed, amended, and newly adopted legislation and regulation on the solar industry and our business; expectations regarding the Company's storage and energy services businesses, anticipated emissions reductions due toutilization of the Company's solar systems; the Company's ability to derive value from the anticipated benefits of partnerships, new technologies, and pilot programs; expectations regarding the growth of home electrification, electric vehicles, virtual power plants, and distributed energy resources. These statements are not guarantees of future performance; they reflect the Company's current viewswith respect tofuture events and are based on assumptions and estimates and are subject toknown and unknown risks, uncertainties and otherfactors that maycause actual results, performance or achievements to be materially different from expectations or results projected or implied by forward-looking statements. The risks and uncertainties that could cause the Company's results to differ materially from those expressed or implied by such forward-looking statements include: the impact of COVID-19 and its variants on the Company's operations; the Company's continued ability to manage costs and compete effectively; the availability of additional financing on acceptable terms; worldwide economic conditions,including slow ornegative growth rates; rising interest rates;changes in policies and regulations,including net metering and interconnectionlimits or caps and licensing restrictions; the Company's ability to attract and retain the Company's solar partners; supply chain risks and associated costs, strategic transactions, or acquisitions, and integrating those acquisitions; the Company's leadership team and ability to retract and retainkey employees; changes in the retail prices of traditional utility generated electricity; the availability of rebates, tax credits and other incentives; the availability of solar panels, batteries, and other components and raw materials; the Company's business plan and the Company's ability to effectively manage the Company's growth and labor constraints; the Company's ability to meet thecovenants in the Company's investment funds and debtfacilities; factors impacting thesolar industry generally. All forward-looking statements used herein are based on information available to us as of the date hereof, and we assume no obligation to update publicly theseforward-lookingstatementsforanyreason,exceptasrequiredbylaw.

Agenda

AboutUs

Marketplace and Strategy

2023 Review

2024 YTD

Summary

3

Our commitment to fully decarbonizethe world

We are building the largestand mostimpactfulgreen energycommunityin Europe, unleashing the full potential of electrifyingenergy demand by scaling

distributed Solar and Storage

About Us

Leadingtheenergytransition

Transformingeveryrooftopintoadistributedgreenenergyproducer

• More than 13 years as a GreenTechleader in Spain
• Creating the largestgreen energy community in Europe, connecting distributed Solar producers and renewable electricity customers in our energy management platform
• Leading customer proposition in Solar installation, bestproductoffering with largest savingsfor customers in a significantlyunderpenetratedmarket
• Established position in Energy Management, with an innovative fixedrate subscription basedproduct
• One of the leadersin customer satisfaction, with 4.1/5 stars in Trustpilot
• A disruptor in the marketplace
• Unique and differentiated business model - combining Solar andEnergy Management

Presenters and Leadership Team

Enhancedleadershipteamwithstrongoperational andcostcontrolfocus

Drivenbyawell-definedstrategy

Carlota Pi

Co-Founder and CEO

Maria Ros

Chief Sales Officer

Carlos Cuesta

Chief Operating Officer

Foix Valdé

VP of Operational Finance

Goran Vasiljevic

Senior Advisor

Ferran Nogué

Co-Founder and Chief

Energy Management Officer

NarcísMatabosch

Chief Product Officer

Marta Padilla

VP of Technology

Albert Pastor

Chief of Staff

Xavier Puig

Senior Financial Advisor

Business model

Getting vertically integrated into electricity generation through distributed solar and storage and connecting these distributed producers with end customers through our energy management tech platform creates a strong and sustainable competitive advantage in the sourcing cost of electricity for decades.

This will allow the company to offer green and affordable electricity through a subscription-based product to millions of people.

From

To

Energy management

Tech platform

Centralized oligopoly,polluting and with very	Decentralized, decarbonized, democratized and
affordable clean energy thanks to by-passing T&D
expensive T&D costs	costs and using the proximitynetwork instead

1. DistributedGenerationecosystemenablesaunique sourcingadvantage,allowing Holaluztocompetewith large-scaleincumbents

Illustrative Example of Electricity sourcing from Centralized Solar PPA vs Distributed Generation

Proximityor collective self-consumptionallowscitizens to share self-generatedelectricity with their neighbor ona contractualbasis. The EuropeanDirective 2018/2001 develops the rules

governingthe self-consumption of electricity fromrenewable sources in Article 21. InSpain,the RoyalDecree 244/2019 of 5April regulates the

Pool price T&D cost

139

24

75

40

	Retail tariff offered to
Taxes	customers with Distributed
Generation, to be
	meaningfully lower,
	benefiting from T&D cost
	avoidance as it avoids T&D
	losses and frees up capacity
	in Transportation network

97

17

80

administrative,technical andeconomic conditions for self-consumption of electricity, includingthe collectiveself-consumption scheme

In Spainself-consumersdo notpay grid chargesfor the self-consumedenergy,onlyfor

energydemand fromthe grid. Consumers participatingin proximityor collective self- consumption can therefore payareducedfee on T&Dcosts.This reducedfee is set to 0 byCNMC (National Commission on Markets and Competition)

The distributed generationecosystem benefitingfrom proximity network requires

1. Balancedcustomer portfolio between solar home energysystems andelectricity customers without solar panels
2. Sufficientscale to be material and generate a real impact in the energytransition in Spain and Europe

Traditional centralized model

Holaluz distributed model

Holaluz ecosystem combining decentralized Solar PV and Energy Management enables our differentiated business model

A Connect people to green energy

EnergyManagement business

Holaluz sells electricity to its Supply customers without solar installations …

A flywheelpowered by trust

And enabledby Technology

Optimize economic value of entire portfolio

Transform every sqm of	B
rooftop into green electricity
production and storage

Solarbusiness

• buys that electricityfrom the surplusproduction generated by its Solarcustomers with PV installations, whose rooftop potential is completely leveraged …

Holaluztechnologicalecosystem

C … and then centrally managesits portfolio of Solar customersthrough the development of a technologicalplatform aimed at optimizing customer's production/consumption patterns through communication to smart assets (PV inverters, batteries, EV chargers)

We are sophisticating the market with our unique value proposition combining the best of Solar and Energy Management

Whatthe averageplayer cando

Solarself-consumption installations

Flexibleassets(Battery, EV chargers,

heat pumps) installations with a very limited interaction with the end user

Basic energymanagementoffering a fixed price for surplus electricity

WhatHolaluzcan do

Distributed Generationinstallations maximizing rooftop potential to share electricity with neighbouring customers leveraging proximity network and preparing for demand

electrification

Home EnergySystemoperator integrating PV, batteries, EV chargers and heat pumps in our platform to optimize client's electricity consumption and surplus sharing

Virtual Power Plant operator leveraging our installed fleet of batteries to participatein balancing, wholesaleand capacitymarkets

Most competitive subscription-based energy management product leveraging the ecosystem of decentralized producers-consumersbenefitting from proximitynetwork regulation toskip T&D costs