Solarpack Corporacion Tecnologica S A : 10 de noviembre de 2020 | Declaración Intermedia de Gestión - Q3 2020

Declaración Intermedia de Gestión- 9M 2020

10 de noviembre de 2020

Disclaimer

This presentation has been prepared by Solarpack Corporación Tecnológica, S.A. (the Company) for informational use only.

The information contained in this presentation does not purport to be comprehensive or to contain all the information that a prospective purchaser of securities of the Company may desire or require in deciding whether or not to purchase such securities, and has not been verified by the Company or any other person. The information contained in this document is subject to change without notice. Neither the Company nor any of affiliates, advisors or agents makes any representation or warranty, express or implied, as to the accuracy or completeness of any information contained or referred to in this document. Each of the Company and its employees, officers, directors, advisors, agents or affiliates expressly disclaims any and all liabilities whatsoever (in negligence or otherwise, whether direct or indirect, in contract, tort or otherwise) for any loss howsoever arising from any use of this presentation, the information contained or referred to therein, any errors therein or omissions therefrom or otherwise arising in connection with this presentation. Neither the Company, nor any of its affiliates, advisors or agents undertakes any obligation to provide the recipients with access to additional information or to update this document or to correct any inaccuracies in the information contained or referred to therein.

Certain statements in this document regarding the market and competitive position data may be based on the internal analyses of the Company, which involve certain assumptions and estimates. These internal analyses may have not been verified by any independent sources and there can be no assurance that the assumptions or estimates are accurate. Additionally, certain information in this presentation may be based on management accounts and estimates of the Company and may have not been audited or reviewed by the Company's auditors. Accordingly, recipients should not place undue reliance on this information. This information is provided to the recipients for informational purposes only and recipients must undertake their own investigation of the Company.

The information providing herein is not to be relied upon in substitution for the recipient's own exercise of independent judgment with regard to the operations, financial condition and prospects of the Company.

Neither this presentation nor any copy of it shall be taken, transmitted into, disclosed, diffused, send, published or distributed in the United States, Canada, Australia or Japan. The distribution of this presentation in other jurisdictions may also be restricted by law and persons into whose possession this presentation comes should inform themselves about and observe any such restrictions. In particular, any offer that might result from the transaction herein escribed will not be made, directly or indirectly, in the United States of America, or by use of mails, or by any means or instrumentality (including, without limitation, facsimile transmission, telephone and internet) of interstate or foreign commerce of, or any facilities of any national securities exchange of, the United States, Canada, Australia or Japan. The securities of the Company have not been and, should there be an offering, Will not be registered under the U.S. Securities Act of 1933, as amended (the Securities Act) and, subject to certain exceptions, may not be offered or sold in the United States. The securities of the Company have not been and, should there be an offering, will not be registered under the applicable securities laws of any state or jurisdiction of Canada or Japan and, subject to certain exceptions, may not be offered or sold within Canada or Japan or to or for the benefit of any national, resident or citizen of Canada or Japan.

THIS PRESENTATION DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER FOR SALE OR SOLICITATION OF ANY OFFER TO BUY ANY SECURITIES IN THE UNITED STATES OR IN ANY OTHER JURISDICTION, NOR SHALL IT OR ANY PART OF IT FORM THE BASIS OF OR BE RELIED ON IN CONNECTION WITH ANY CONTRACT OR COMMITMENT TO SELL OR PURCHASE SHARES. ANY DECISION TO SELL OR PURCHASE SHARES IN ANY OFFERING SHOULD BE MADE SOLELY ON THE BASIS OF PUBLICLY AVAILABLE INFORMATION.

This presentation may include forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause such actual results, performance or achievements, or industry results, to be materially different from those expressed or implied by these forward-looking statements. These forward-looking statements are based on numerous assumptions regarding the present and future business strategies of the Company and the environment in which they expect to operate in the future. Forward-looking statements speak only as of the date of this presentation and the Company expressly disclaim any obligation or undertaking to release any update of, or revisions to, any forward-looking statements in this presentation, any change in their expectations or any change in events, conditions or circumstances on which these forward-looking statements are based.

In reviewing this presentation, the recipient is agreeing to, and accepting, the foregoing restrictions and limitations.

Declaración Intermedia de Gestión - 9M 2020	2

AGENDA

1. Principales Hitos
2. Información Operativa
3. Información Financiera
4. Previsiones
5. Ruegos y preguntas Anexos

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Principales Hitos

1	Fuerte impulso en el avance de nuestra cartera de proyectos en España
▪ Un proyecto de 400 MW en el centro de España obtiene los derechos de interconexión a la red (I.V.A.) y asegura los
terrenos, avanzando así a categoría "Pipeline"
	▪ 1 GW adicional de Oportunidades Identificadas en España a la espera de una nueva regulación de acceso a la red

2	Incrementos adicionales considerables en Pipeline y Oportunidades Identificadas en EEUU e India
▪ En EEUU, incremento de 205 MW en "Pipeline" y 196 MW en Oportunidades Identificadas
▪ Importantes nuevas entradas a Oportunidades Identificadas en India
3	Solarpack inicia en octubre en Malasia la construcción de su proyecto 3SP de 116 MW
▪ El proyecto, que se adjudicó un contrato PPA a 21 años con TNB, cuenta con aprobación crediticia para su financiación
▪ Se espera que entre en operación en H2 2021
4	Solidos resultados con un 9M EBITDA(1) de 43,8 MM €, con POWGEN como principal contribuyente
▪ Los ingresos totales por segmentos(1) alcanzan los 122,3 MM € en los primeros 9 meses del año
▪ Continúa la actividad de DEVCON y se espera que aumente en Q4 con el inicio de construcción de nuevos proyectos
5	La refinanciación de los activos peruanos libera 29 MM US$ de caja para SPK CT para seguir creciendo
▪ La refinanciación de deuda senior sin recurso que se ha cerrado en octubre de 2020 extiende el vencimiento de la deuda
a 2032 (frente a 2030) y se apalanca en las competitiva tasas de interés actuales

• En 2020, Solarpack ha cerrado la refinanciación prevista de los activos españoles y peruanos liberando ~ 50 MM € de efectivo para el crecimiento y creando valor de manera significativa

1. Datos financieros por Segmentos. Ayudan a entender mejor el desempeño de las diferentes unidades de negocio y la creación de valor y de caja. En IFRS es necesario aplicar ciertas eliminaciones y ajustes derivados fundamentalmente de la eliminación de ingresos y márgenes brutos de proyectos Build and Own

Declaración Intermedia de Gestión - 9M 2020	4