Alternus Energy SPAC Presentation Deck

1 STRONG EXISTING OPERATING BUSINESS NOW PRIMED TO REALISE EXCEPTIONAL GROWTH¹ Alternus Overview 15 OWNED AND CONTRACTED PIPELINE TO CONTINUE EBITDA GROWTH TRAJECTORY THROUGH 2025 c. 60% OWNED OR CONTRACTED TODAY 'Stair Step' long term recurring EBITDA created from stable and predictable revenues with c. 66% contracted under 5-10 years PPA's. Amount of annual EBITDA not recorded in first year - carried over to following years $15.5 EBITDA FY 22E Contribution from projects achieving commercial operations US $22.9 $18.8 33% 241 MW 67% Poland Full Year Pro-forma EBITDA for operating projects at EOY ($10.0) Estimated Corporate Costs FY23 241 MW 100% Contracted $47.2 $22.9 $24.3 EBITDA FY 23E $56.8 ($ millions) $60.3 Contribution from projects achieving commercial operations USA Greece Spain 19% 8% 841 MW 21% Poland 40% Italy Notes (1) Adjustment to EBITDA to recognize the full year earnings from assets that was only operational for a part of the year. ($15.0) Estimated Corporate Costs FY24 Developemnt 21% 41% Exclusive Rights 841 MW $149.3 $56.8 $92.5 EBITDA FY 24E 37% Contracted Spain $64.0 Contribution from projects achieving commercial operations 28% $78.7 1,402 MW 33% USA 25% Italy 14% ($20.0) Estimated Corporate Costs FY25 Developemnt Netherlands 40% 1,402 MW $272.0 $64.0 33% $208.0 EBITDA FY 25E 27% Contracted Exclusive Rights

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