Investor Presentaiton

2 6 02. Key investment highlights Highly attractive and supportive market environment un- derpinned by clear renewables targets Clean energy targets and continued technological improvement paving the way for growth 17 Clearly defined and ambitious EU targets... 3 ...coupled with increasing technological competitiveness 2020 targets 2030 targets Levelized Cost of Energy ($/MWh) GHG emissions CO Renewable energy 20% 40% Targeted reductions in greenhouse gas emissions vis-à-vis 1990 levels 20% 32% Targeted percentage of energy from renewable sources in gross final energy consumptions ...underpinning renewables growth... Installed capacity (GW) Installed capacity (GW) Installed capacity (GW) 2022 2040 2022 2040 Wind onshore Solar 169 148 101 99 22 95 92 95 81 77 50 60 2009 2010 2011 394 19 48 2016 32 32 30 32 30 2017 2018 2019 29 28 20 2020 29 62 26 60 56 56 54 54 54 2012 2013 37 37 45 45 2014 2015 270 c.4.1x c.2.6x 323 94 D 23 166 32 12 226 148 c.3.9x c.7.4x 12 1 11 c.2.0x c.4.1x D 28 55 19 76 2009 2010 2011 2012 2013 2014 149 104 86 101 91 72 Renewable generation costs have consistently dropped in the last 5 years and still have additional decrease potentials in the medium term 61 53 46 44 2020 250207 58 49 46 40 36 31 70 2015 2016 2017 2018 2019 ALERIONCLEANPOWER Notes Sources Market researches, publicly available information

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