UNPRECEDENTED GROWTH OPPORTUNITY

Secured Funding Sources to Deliver the 2025 Targets Whilst maintaining the current dividend levels (~€40 m per annum) in € Bn Project Capex: COD pre-2025: €2.3 Bn COD post-2025: €0.5 Bn ~2.8 ~0.2 2022-25 Capex Funding Plan ~0.6 ~0.7 ~3.6 Sources ~0.4 Target Recourse: ~80% Asset LTV gearing & > 15 years average tenor ~1.9 Total Capex 2022E-2025E Dividends Debt Repayments Total Uses and Other Related Operating Cashflow Grants Asset-Level Debt Funding Items T TERNA ENERGY ~0.6 Cash on Balance Sheet & Other Funding Sources FINANCIAL OUTLOOK 25

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