European Energy Financial Overview

Transaction summary and overview of European Energy European Energy in brief • European Energy constructs wind and solar farms as well as large scale green energy storage. We are building solutions to climate change European Energy was founded in 2004 and has grown to a show an EBITDA of EUR 34m in 2018 with ~100 full-time employees based in Copenhagen and activities across 11 countries Simplified structure of European Energy Mikael Dystrup Pedersen == EUROPEAN ENERGY Jens-Peter Zink Knud Erik Andersen European Energy Employees Solar Power Onshore Wind Active in Europe, Brazil, Australia and India Active in Europe and Brazil ~14% Offshore wind EE Gigastorage Active in Denmark Active in Denmark Development portfolio Sources and uses for an issuance of EUR 120m Sources Uses Bond issue 120 Refinancing existing bond Call premium 85 w 3 General Corporate Purposes in accordance with the Green Bond Framework¹ 32 Total 120 Total 120 1) No dividend distribution -10% == -76% EUROPEAN ENERGY Illustrative overview of OpCos Construction portfolio Bond issue Operational portfolio <1% European Energy A/S establishes a special purpose vehicle (SPV) for every project. The projects are subsidiaries of European Energy A/S and can be divided into three groups, consolidated in financial statements as follows: - Subsidiaries directly or indirectly owned (100% ownership), consolidated line by line Joint ventures or associated companies (50% ownership or more), recognised as "equity-accounted investments" Companies in which the Group has no material ownership (less than 20% ownership), recognised as other investments - 3

View entire presentation