European Energy Financial Overview

Asset Management & PPAS Assets managed on behalf of third parties Basics of PPAs Assets managed (MW) Current Business 2015 2016 2017 2018 - on behalf of third parties Solar 282 102 126 236 Wind 97 451 513 602 Total 379 553 639 838 == EUROPEAN ENERGY Value to shareholders Getting to market Corporates Supporting ongoing project needs while also creating room for development Build information channels and knowledge to ensure flexibility in execution Projects Getting new customers and additional value generation through direct access to consumers Comments on Asset Management • • Revenue from wind and solar farms depends not only on the technology installed, weather conditions and electricity prices, but also on the ability to ensure reliable operation of the farms Consequently, European Energy has a dedicated Asset Management team tasked with minimising downtime at operating plants and dealing with incidents when they occur, including solar and wind farms managed on behalf of third parties Asset management is integral to the core business of European Energy, whose customers are often institutional investors who prioritise choosing a business partner with the ability to construct a plant, optimise production output, and minimise operating costs on their behalf The Asset Management fee is only a small part of European Energy's total revenue, but represents added value to the investors since the caretaking of assets for institutional investors brings European Energy: Purchasing power Considerable knowledge - Market insight Often triggers new business in the form of repowering opportunities in existing energy parks Utility PPAs a po Energi Danmark VINDENERGI DANMARK dc Danske Commodities e.on PPA sources Goverment auctions Government auctions won 3 Corporate PPAs NISSAN NEASN 2 ENERGY 4 MWSC | 23

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