MVV Energie : 3M Quarterly Statement FY 2021

MVV in Figures

1 Oct 2020	1 Oct 2019	%
to 31 Dec 2020	to 31 Dec 2019	change
Financial key figures
Adjusted sales excluding energy taxes (Euro million)	983	1,042	- 6
Adjusted EBITDA 1 (Euro million)	147	128	+ 15
Adjusted EBIT 1 (Euro million)	98	81	+ 21
Adjusted net income for period 1 (Euro million)	60	47	+ 28
Adjusted net income for period after minority interests 1 (Euro million)	47	39	+ 21
Adjusted earnings per share 1 (Euro)	0.71	0.59	+ 20
Cash flow from operating activities (Euro million)	68	- 36	-
Cash flow from operating activities per share (Euro)	1.04	- 0.55	-
Adjusted total assets at 31 December 2020/30 September 2020 2 (Euro million)	4,693	4,582	+ 2
Adjusted equity at 31 December 2020/30 September 2020 2 (Euro million)	1,626	1,571	+ 4
Adjusted equity ratio at 31 December 2020/30 September 2020 2 (%)	34.7	34.3	+ 1
Net financial debt at 31 December 2020/30 September 2020 (Euro million)	1,384	1,374	+ 1
Investments (Euro million)	71	92	- 23
Non-financial key figures
Electricity generation volumes from renewable energies (kWh million)	291	328	- 11
Concluded development of new renewable energies plants (MWe)	234	106	>+ 100
Operations management for renewable energies plants (MWe)	3,849	3,474	+ 11
Number of employees at 31 December 2020/31 December 2019 (headcount)	6,292	6,141	+ 2
Number of trainees at 31 December 2020/31 December 2019 (headcount)	334	312	+ 7
1 Excluding non-operating measurement items for financial derivatives, excluding structural adjustment for part-time early retirement
and including interest income in connection with finance leases
2 Excluding non-operating measurement items for financial derivatives

Contents

Highlights 4

Foreword 5

Our First Three Months 7

Group Business Performance 8

Business Framework 8

Presentation of Earnings Performance 10

Presentation of Asset Position 12

Presentation of Financial Position 13

Forecast for the 2021 Financial year 14

Income Statement 15

Balance Sheet 16

Cash Flow Statement 17

Financial Calendar 18

Imprint/Contact 18

Highlights

Investments in energy system of the future

In December 2020, we connected our non-recyclable waste treatment plant in Leuna to the district heating grid at Stadtwerke Merseburg. The climate-neutral heating energy generated at the plant will cover up to 50 percent of total district heating needs at the municipal utility company. This will cut natural gas consump-tion by around 80 million kWh and avoid up to 16,000 tonnes of CO2 emissions a year. Together with Stadtwerke Merseburg, we have invested around Euro 20 million.

In Bernburg/Saale, we are building a state-of-the-art plant to ferment organic waste and use this to generate energy. The investment volume amounts to around Euro 20 million. From the end of 2021, this plant should process around 33,000 tonnes of organic waste from the region each year. The bio-natural gas produced at the plant will be fed into the gas grid at Stadtwerke Bernburg. Compared with the open-air composting used to date, this will save around 8,000 tonnes of CO2 a year.

At our Mannheim location, the symbolic first ground-breaking ceremony for the construction of a phosphorous recycling plant was held in October 2020. This plant is scheduled to launch operations at the end of 2021 already. Working with a thermic process, it will recover the phosphorous contained in the sewage sludge on an environmentally-friendly basis. We are investing around Euro 50 million here and plan to build similar plants at other locations as well.

4

| | HIGHLIGHTS

Internationally successful

In the USA, our subsidiary Juwi signed an electricity supply agreement with the energy supplier Colorado Springs Utilities for a 175 MW solar project together with a 25 MW battery storage facility. The project is to be implemented in El Paso County in Colorado and will be completed by 2023. This way, Juwi is building its first major hybrid project with a storage solution in the USA as well.

The launch of operations at Waterloo Solar Farm in South Africa means that Juwi's installed photovoltaics capacity has now exceeded the 3,000 MW mark. The 86 MW power plant forms part of a 250 MW portfolio.

In Greece, Juwi began construction work on what is Europe's largest bifacial solar farm - the 204 MW Kozani project. This will supply some 300 million kWh of climate-friendly electricity a year and is due to be connected to the grid at the end of 2021. Using bifacial modules increases the energy yield at the 450-hectare solar farm by up to five percent.

In Japan, the Juwi Shizen Energy joint venture has started building a 54 MW solar farm. The operations launch is scheduled for summer 2022. When finished, the Sano City project will produce around 62 million kWh of electricity a year.