Alternus Energy SPAC Presentation Deck

ROBUST PROJECT FINANCIAL EVALUATION PROCESS ENSURES ALL PROJECTS ARE PROFITABLE OVER THEIR FULL LIFE CYCLE Projects are ranked 'early and continually' in order to select only those with the 'lowest risk & highest return'. Investment Metric: Levelized Cost of Electricity (LCOE): LCOE¹ can be viewed from an economic perspective as an "average" electricity price (MW-h) that must be earned by a specific generation source to break even. A project will generate positive equity returns where Contracted/Market electricity prices are above the LCOE LCOE by Technology (USD, real 20212) / Solar PV-Trailblazing LCOE Reduction 247/MW-h Open cycle gas Fossil-fuel based energy 109/MW-h Coal 83/MW-h 75/MW-h Offshore wind Geothermal Renewable energy 60/MW-h Combined cycle gas 38/MW-h 36/MW-h Onshore wind Solar PV Illustrative Example (USD) 36/MW-h LCOE 1. The formula to calculate the LCOE is (Present Value of DevEx + CapEx + OpEx Over the Lifetime)/(Present Value of All Electricity Generated Over the Lifetime). 2. Lazard Levelized Cost of Energy report v.15 Operating Model Overview Positive Equity Returns Equity value created where LCOE is less than I the PPA price or the forecasted market prices 45/MW-h Fixed Term PPA 48/MW-h Market PPA 29

View entire presentation