Credit Investor Presentation

RWE Clean Energy Acquisition and future growth fully funded Earnings accretion Attractive valuation Transaction & growth fully funded $0.6bn EBITDA from operating assets Net income accretive (post PPA) from year 1 $6.8bn enterprise value implies 11x EBITDA multiple High share of long-term contracted revenues €2.4bn Capital increase via mandatory convertible QIA as investor RWE August 2023 Credit Investor Presentation Page 12

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