ERG (ERG) investor relations material

Strategic evolution and business model

• Transitioned from oil refining to a pure renewable energy player, expanding into wind, solar, and storage across Europe and the US.

• Installed capacity of ~4 GW, with a diversified portfolio in wind, solar, and storage, and a 5 GW European pipeline.

• Four strategic levers: core business enhancement, business model adaptation, asset rotation, and performance excellence.

• Focus on wind repowering, BESS (battery energy storage systems), and digitalization to optimize asset performance.

• Asset rotation and geographical repositioning to fuel organic growth and maximize returns.

Operational excellence and project pipeline

• Achieved technical availability above 97% in core countries through digitalization and internalized O&M.

• Project pipeline grew by 91% since 2020, with ~270 MW under construction and €1bn in capital investments planned.

• All new projects have secured long-term contracts for revenue stability.

• Repowering pipeline of 1.6 GW to rejuvenate asset base and increase production efficiency.

• BESS pipeline of 1.5 GW, mainly in Italy and Spain, with over 300 MW highly visible for 2026-28.

ESG strategy and sustainability

• Net Zero target by 2040, with a 99% reduction in carbon index by 2040 compared to 2020.

• Circular economy initiatives in wind and solar repowering to minimize waste and maximize recyclability.

• Social purpose embedded in solar revamping, supporting local communities and NGOs.

• At least 1% of turnover shared with local communities, with a focus on education and socio-economic development.

• Biodiversity and natural capital preservation prioritized, with no net loss by 2030 and no net deforestation by 2025.