#1VENA ENERGY 1H 2023 UPDATE SEPTEMBER 2023 PRIVILEGED INFORMATION#2VENA ENERGY CORPORATE UPDATE Accelerating the energy transition across the Asia-Pacific Region Today's Presenters 2202 NITIN APTE CHIEF EXECUTIVE OFFICER SIMONE GRASSO CHIEF INVESTMENT OFFICER JUWON CHAE HEAD OF SUSTAINABLE FINANCE RAYMOND TAN HEAD OF CORPORATE TREASURY 47 MW Nakasato Wind Project | Japane & INVESTOR RELATIONS#3BANDAI 36 MW GARCIA 2 83 MW NANBUCHO 2 15 MW#4VENA ENERGY'S 1H 2023 HIGHLIGHTS Total Operational, Construction, and Contracted ("OCC") portfolio ~6.5GW across >100 projects PORTFOLIO PROGRESS BUSINESS HIGHLIGHTS CORPORATE HIGHLIGHTS COMMITMENT TO PEOPLE VENA ENERGY ▪ 2.9GW operational portfolio, with additional 135MW (3 projects) commissioned in 1H 2023 ■ 706MW (5 projects) under construction ■ 440MW of newly contracted capacity across Philippines, Thailand, and Taiwan ■39GW (>200 projects) of development pipeline, with 13GW onshore renewables, 20GW offshore wind, and 6GW energy storage capacity ■2.2TWh¹ (+22% P-o-P) green power generation ■Robust financial performance, with double digit semi-annual growth in 1H 2023: $284m Revenue (+22%) $196m EBITDA (+18%) $174m LTM FFOA, growing from $167m in FY2022 Corporate leverage of 2.4x with corporate net debt of $419m and FFOA of $174m, conservatively below policy target of 2.5-3.0x Secured $120m (JPY 16.9bn) green project financing loan for Kasama solar project in Japan ■ Enhanced statistical assessment of resources and asset generation, resulting in planning and budgeting more closely aligned with historical asset performance ■ Maintained Investment-Grade credit rating and "Negligible" ESG risk rating ■894 (+20% Y-o-Y) employees in 1H 2023 Improving diversity, with women comprising 35% of new hires in 1H 2023 ■ Vena Energy was awarded "Best Companies to work for in Asia" both in the Philippines and Indonesia, marking the 3rd consecutive year of recognition from HR Asia ■ Continuous engagement with host communities via 65 CSR initiatives throughout the region VENA ENERGY Notes: (1) Generation in 1H 2023#5OCC PORTFOLIO OVERVIEW Continuous conversion of development pipeline into contracted portfolio in last 12 months OCC Portfolio¹ Trajectory 37% (LTM Jun-23) CAGR: 20% 6.5 GW 4.7 GW 4.5 GW 2,887 1,157 1,738 1,125 706 888 1,895 2,456 1H 2021 ■Operational 1H 2022 Construction 1H 2023 Contracted 2,880 Operational ■ 2.2TWh of clean energy generated in 1H 2023, growing from 1.8TWh in 1H 2022 ▪ 17% increase in operational capacity, from 2.5GW as of 1H 2022 to 2.9GW as of 1H 2023 ■ 135 MW (3 projects) added to the operating portfolio ✓ 83 MW of solar in Philippines 52 MW of solar in Japan Secured Growth with 2.2x Contracted Portfolio 100 160 353 Construction ■ 706 MW under construction across Australia (327MW), India (181MW), and Japan (198MW) 100 701 2,880 MW Operational 6,473 MW 2,321 2,079 Operational, Construction & Contracted 3,539 Solar Wind ■Hybrid Battery Offshore Wind VENA ENERGY Notes: (1) MWs indicate Gross Capacity as of June 2023 Contracted ■ 440MW newly contracted solar and hybrid projects in 1H 2023 5MW + 3MW/11MWh solar and battery hybrid in Taiwan 350MW of solar in Philippines ✓ 82MW of solar in Thailand Improved design of certain Japan wind projects, increasing total capacity by 132MW 5#6DEVELOPMENT PIPELINE 39 GW of development pipeline comprising over 200 projects across business units Breakdown Breakdown by Business Units: Development Stages 16% 33% Early-stage Identified Most advanced Assessed Technically Feasible Commercially Feasible Ready-to-Contract/Bid 39GW As of 1H 23 c. 23GW c. 12GW Stages determined by five key development milestones covering: 1) Site Control 2) Offtake/Revenue Streams 3) Permitting 4) Interconnection Offshore Storage1 5) Technical and engineering assessment c. 4GW ✓ Land exclusivity secured / awarded at tender ✓ Offtake negotiations advanced ✓ Pre-construction development permits received ✓ Grid rights secured / awarded at tender Engineering design & technical due diligence completed 51% Onshore Breakdown by Regions: 3% 20% 33% 39GW As of 1H 23 Japan Southeast Asia 44% North Asia & Australia ■India 1H 2023 Development Updates ■ ~1GW additions to Ready-to-Contract/ Bid pipeline driven by the progression of onshore development projects in South-East Asia ■ ~1GW additions to Technically and Commercially Feasible pipeline including onshore projects in South-East Asia, Japan, and India and energy storage projects in Japan ■ ~1GW progressed from Assessed pipeline, predominantly across North Asia and Australia VENA ENERGY Notes: (1) Storage includes battery energy storage system and green hydrogen 6#71H 2023 OPERATIONAL PERFORMANCE Steady growth in 1H 2023 (TWh) 2018 4.1 TWh¹ of Generation in 1H 2023 (LTM) 20% Y-o-Y 2018-23 CAGR +15% 4.1 Total 3.7 3.1 1.5 Wind 2.8 2.6 1.5 Lifetime availability ~97% 2.2 1.4 1.1 1.3 1.1 Solar 2.6 Lifetime availability ~98% 2.3 1.7 1.7 1.1 1.3 2019 2020 2021 2022 1H 2023 (LTM) ◉ VENA Total availability² of >97% across the operating portfolio, with 61% of the projects operated in-house by Vena Energy's O&M team Continued growth in power generation (+15% CAGR), supported by geographical and technological diversification ENERGY Notes: (1) Number as of Jun 2023 (LTM); (2) Availability captures external grid outages and scheduled & unscheduled maintenance 7#81H2023 FINANCIAL PERFORMANCE Robust growth in Revenue and EBITDA USD in millions Revenue 22% 22% 469 4% 385 372 232 USD in millions EBITDA ▲ 18% 16% 22% 2% 326 284 278 282 18% 196 166 FY2020 FY2021 FY2022 1H22 1H23 FY2020 FY2021 FY2022 1H 22 1H 23 VENA ENERGY 8#9KEY FINANCIAL METRICS Disciplined leverage profile with healthy liquidity Liquidity as of 30 Jun 2023 Cash $22m Drawn RCF $49m $306m Available RCF $284m Sources of Funds $3.1b Southeast Asia India FUNDS FROM OPERATIONAL ASSETS 9% 20% FY2022: $167m 52% 19% North Asia & Australia Japan Southeast Asia India 7% 26% LTM Jun-23: $174m 53% 14% North Asia & Australia Credit Metrics 2.4x (Net Debt/FFOA) EURO MTN¹ $392m $419m Project Finance Debt $2,685m VENA ENERGY Notes: (1) $500m Euro MTN, was swapped to JPY via cross currency swaps. The resulting cost of debt is 0.98% p.a. all-in. 21.8x (FFOA/Interest) $174m Net Debt FFOA $8m Interest Japan 6#101H 2023 FINANCIAL RESULTS Supplementary financial information and bridge from IFRS to Proportionate results USD in millions Proportionate 1H 2022 1H 2023 252 1H 2023 Revenue (IFRS vs Proportionate) - USD in millions 39 (7) 284 Total revenue 231.9 283.8 Operating expenses (65.8) (87.4) EBITDA 166.1 196.4 Depreciation & amortisation (92.7) (108.6) Pro Forma JP JVS & PH Associates TH (30%) Proportionate EBIT 73.4 87.8 Net finance costs (49.3) (52.3) 1H 2023 EBITDA (IFRS vs Proportionate) - USD in millions Other finance gain (charge) (43.3) (7.6) 36 196 Other expenses/impairment 1.1 0.6 167 (7) Development expense (1.3) (1.8) Tax (5.5) (4.6) Net Income (Loss) (24.9) 22.1 Pro Forma JP JVS & PH Associates TH (30%) Proportionate VENA ENERGY 10#11SUSTAINABILITY PERFORMANCE 1H 2023 GENERATION Construction and Contracted Assets 3.9 TWh Operational Assets 2.2 TWh 3.5 million Households Powered Annually 3.9 m tCO2 Avoided Equivalent To VENA ENERGY GOOD HEALTH AND WELL-BEING 4 QUALITY EDUCATION 1H 2023 CSR ACTIVITIES 65 867 5 GENDER EQUALITY CSR Activities Conducted Hours Contributed > 130,000 Beneficiaries Supported 5.2 billion Litres of Water Saved 0.9 million Equivalent Cars Taken 65.6 million Equivalent Trees Planted Off the Road Notes: Environmental Impact metrics calculated based on Vena Energy's 1H 2023 Operating, Construction and Contracted portfolio of 6.5 GW $0.7m Amount Spent 11 14#12YTD2023 UPDATE & CLOSING REMARKS [Right] 272 MW E2 Solar Project, Taiwan A&D Stad 1464#13Q3 2023 UPDATE NEW OCC ADDITIONS DEPARTA RTMENT OF ENERGY CROSS BORDER DEVELOPMENT PROJECT NEW CORPORATE INITIATIVES COLORAT VENA ENERGY PHIL IPPINES ■ In March 2023, the Government of the Philippines announced the 2nd round of the Green Energy Auction Program (GEAP2), for a total of up to 11.6GW of capacity across various renewable energy technologies ■ Vena Energy owns a large pipeline of onshore wind and solar energy projects in the Philippines at various stages of development ■In July 2023, the Government of the Philippines conducted the auctions and awarded a total of ~3.5GW of new projects, with Vena successfully securing ~1.0GW (27% market share) of contracted ground- mounted solar and onshore wind capacity ■ In March 2023, the governments of Singapore and Indonesia signed an MoU to facilitate cross-border electricity trade ■ Vena Energy owns a pipeline of projects in Indonesia including a 2GW solar/8GWh BESS project in the Riau Islands, ideally located to potentially connect to Singapore ■ In August 2023, Vena Energy entered a landmark framework agreement with major equipment suppliers, supporting the establishment of local production lines for components of solar PV panels and BESS ■ Vena Energy also signed a collaboration agreement with Shell for the cross-border supply of green energy to Singapore, supporting the country's target to import up to 4GW of low-carbon firm electricity from neighboring countries by 2035 ■ On 24 August 2023, Vena Energy secured a 5-year USD550m multicurrency unfunded Green Letter of Credit Facilities from relationship lenders, enhancing financial flexibility and corporate liquidity ■ On 1 September 2023, Vena Energy Pte Ltd, a wholly owned subsidiary of Vena Energy Holdings, was awarded the Finance and Treasury Centre incentive by the Economic Development Board of Singapore, as part of the ongoing expansion of Vena Energy's corporate group in the country VENA ENERGY 33 13#14Q&A [Right] 272 MW E2 Solar Project, Taiwan#15LEGAL DISCLAIMER This report does not constitute or form part of and should not be construed as, an offer to sell or issue or the solicitation of an offer to buy or acquire securities of Vena Energy Capital Pte. 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Because the Non-IFRS Measures are not IFRS measures they may not be comparable to similarly titled measures presented by other companies. The information contained in this report is provided as at the date of this document and is subject to change without notice. This report is for information purposes only and may contain data sourced from and the views of independent third parties. In replicating such data in this report, Vena Energy has not independently verified any of such data and there can be no assurance as to the accuracy or completeness of such data. Accordingly, Vena Energy makes no representation (whether express or implied) as to, and no reliance should be placed on, the accuracy or completeness of such data, information or opinions contained in this report. The replication of any views in this report should be not treated as an indication that Vena Energy agrees with or concurs with such views. It is not Vena Energy's intention to provide, and you may not rely on these materials as providing, a complete or comprehensive analysis of Vena Energy's financial or trading position or prospects. VENA ENERGY 15