European Energy Financial Overview

三三 EUROPEAN ENERGY Large pipeline with great geographic and technological diversity Distribution per technology Description Development pipeline • Includes all development projects from initial analysis until ready-to-build status • Project screening, selection and completion are based on in-house competencies resulting in: Bigger certainty of project realisation Shorter investment cycles Greater agility Gross amount, pre-dev.1 5,861 MW Gross amount, dev.2 2,734 MW 29% Wind 71% Solar PV . Construction portfolio Construction includes all wind turbines / solar panels as well as all other hardware, foundation, etc. European Energy has never started construction of a project that has not resulted in positive results Gross amount 571 MW 67% Wind 33% Solar PV • Operational assets European Energy is an independent power producer with sale of power generating 35% of gross profit in Q1 2019 Almost all operational projects has secured their revenue through a long-term PPA European Energy manages 838 MW on behalf of third parties Gross amount 561 MW 87% Wind 13% Solar PV Denmark Portfolio distribution per country EE share of portfolio, pre- EE share of portfolio, dev. dev. 4,950 MW 1,779 MW EE share of portfolio = 434 MW EE share of portfolio = 231 MW Brazil 10% Spain Brazil 3% 9% Bulgaria 74% Sweden 32% Italy 20% 3% 70% 26% 16% 14% Pre-dev. Dev. Solar Wind, onshore Wind, offshore 3% Poland 6% Germany 18% Finland 31% Denmark 40% Germany 24% Note: Figures as of year-end 2018. 1) Pre-development workstreams: Analysis of the site, securing land rights, analysis of needed permits. 2) Development workstreams: Permit applications submitted to relevant authorities, access to grid | 13

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