Investor Presentaiton

Seasonality of performance by energy source Revenue SERMSANG POWER CORPORATION 2020 PPA Equity-MW Solar- SPN 2021 PPA Equity-MW 2022 PPA Equity-MW Solar- Wind Solar- Wind SPN 17% SPN 20% 16% iomass 17% Biomass 27% 148 MW 3% 230 MW 237 MW 3% Solar 73% COP Solar Solar 100% 100% Solar 30% 25% Q1 Q2 22 Solar 63% Solar 61% Revenue COP Revenue COP Wind Wind Biomass 4% 12% Biomass 6% 4% Wind 14% Wind 18% Biomass 10% Biomass 7% Solar 84% Solar 90% Solar 76% Solar 75% Biomass 25% 25% 25% 25% 25% 40% 20% Q3 Q4 7] Q1 Wind 15% 5% 40% 22 Q2 Q3 Q4 Q1 Q2 Q3 Q4 11

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