Solarpack Corporacion Tecnologica S A : November 10, 2020 | Q3 2020 results presentation

Mid term financial report - 9M 2020

November 10, 2020

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Mid term financial report - 9M 2020	2

AGENDA

1. Key Milestones
2. Operations Update
3. Financial Review
4. Outlook
5. Q&A

Appendix

3

Key Milestones

1	Strong momentum in the progress of our Spanish project portfolio
▪ A 400MW project in central Spain obtains grid connection rights (I.V.A.) and land rights, moving into Pipeline
▪ Additional 1 GW of Identified Opportunities in Spain waiting for new grid access regulation
2	Additional sizeable increments to Pipeline and Identified Opportunities in USA and India
▪ In USA net additions of 205 MW to Pipeline and 196 MW to Identified Opportunities
▪ Important new entries to Identified Opportunities in India
3	Solarpack has started the construction of its 116 MW 3SP Malaysian project in October
▪ The project, awarded with a 21-year long PPA with TNB, has credit approval for its financing
▪ It is expected to become operational in H2 2021
4	Solid set of results with a 9M EBITDA(1) of € 43.8m with POWGEN as major contributor
▪ Total segment(1) revenues reach € 122.3m in the first nine months of the year
▪ DEVCON activity continues and it is expected to increase in Q4 with the construction start of new projects
5	Refinancing of Peruvian Assets unleashes US$29m of free cash at SPK CT level for further growth
▪ Senior non-recourse debt refinancing closed in October 2020, extends debt maturity to 2032 (vs. 2030) and levers on
current competitive interest rates

• In 2020 Solarpack has closed the planned refinancing of the Spanish and Peruvian assets upstreaming ~€50m cash for growth and creating significant value

1. Segmented financial information, non-GAAP. Helps to better understand the performance of the different businesses and their cash generation. Certain eliminations/adjustments must be applied under IFRS, mainly linked to elimination of DEVCON revenues and gross margins of Build and Own projects

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