Eolus (EOLU) investor relations material

Strategic positioning and business model

• Positioned for growth in renewable electricity demand with an asset-light model and diversified project portfolio across technologies and markets.

• Over 15 GW total project portfolio, leveraging 35 years of partnerships with suppliers, consumers, and investors.

• Value added at every stage: origination, development, commercialization, construction, and asset management.

• Financial targets include ROE above 15%, equity ratio above 30%, and dividend payout of 20-50%.

Project highlights and track record

• Roccasecca BESS project (127 MW) sold in Q1 2026 for SEK 605 million, featuring rapid permitting and secured cash flow through a tolling agreement.

• Extensive track record with large-scale projects across Europe and North America, involving major offtakers like Amazon, Google, and Alcoa.

• Prioritized short-term projects include Pienava (147 MW, sold 2025), Fageråsen (238 MW, JV), and several others in late development or commercialization phases.

Market outlook and industry trends

• Energy crisis in Europe and the Middle East accelerates the shift to renewables, with countries relying on renewables experiencing lower inflation.

• Security and cost efficiency are increasingly important drivers for renewable transition.

• Data center electricity consumption is projected to rise sharply through 2035, boosting demand for renewable energy.

• Nordic electricity prices expected to spike as surplus diminishes, impacting industrial costs.

• Renewables strengthen energy security in Poland, Latvia, the US, Sweden, and Finland, supporting industrial and transport electrification.