European Energy Financial Overview

三三 EUROPEAN ENERGY Robust Green Bond framework - 'pure play' green operations European Energy's green bond framework Eligible Assets and Projects include Development and construction of renewable energy projects (i.e. solar and wind) Energy storage projects to store renewable energy and surplus heating R&D projects related to solar and wind power (e.g. Risø Test Centre) To the extent feasible Eligible Assets and Projects will be allocated to new projects. In cases where proceeds are allocated to existing projects European Energy will endeavour to target a look-back period of maximum 3 years Eligible Assets and Projects may cover both capital expenditures and operational expenditures, such as through labour costs or spending on R&D Eligible Assets and Projects target specific climate related objectives of reducing greenhouse gas emissions through the production of renewable energy In 2018 European Energy saved the planet of 231,592 tCO2 emissions - equivalent to... 1,264 Railcars' worth of coal burned 536,184 Barrels of oil consumed or 9,467,412 Propane cylinders used for barbeques 29,530,826,764 Number of smart- phones charged Process selection European Energy's investment committee are responsible for ensuring that only projects aligned with the framework are allocated proceeds from Green Bonds Managment of proceeds A Green Bond Register will be created to ensure that proceeds are mapped to Eligible Projects and Assets. Projects may be added or removed and will be replaced. Reporting External review An annual allocation and impact report will be published. Where feasible impact will be reported in GHG avoidance. DNV-GL 327 GWH of green electricity produced in 2018 | 9

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