ERG (ERG) investor relations material

Company evolution and strategic positioning

• Transitioned from oil refining to a pure renewable energy player, with major exits from oil and hydro sectors and expansion into wind, solar, and storage across Europe and the US.

• Current installed capacity is around 4 GW, with a diversified portfolio in wind (83%), solar (17%), and storage, and a strong pipeline focused on repowering and BESS projects.

• Corporate governance features a diversified shareholder base and robust internal committees for risk, sustainability, and strategic development.

Recent performance and financial highlights

• 1Q 2026 EBITDA reached €167mn, with net profit at €49mn and CAPEX at €148mn, reflecting solid results from new assets and improved wind conditions.

• Net financial position improved to €1,812mn as of March 2026, with further optimization of debt structure and extension of maturities.

• 2026 guidance confirmed: adjusted EBITDA €520–590mn, CAPEX €330–380mn, and NFP €1,950–2,050mn.

Strategic guidelines and growth levers

• Four value creation levers: core business enhancement, business model adaptation, asset rotation/geographical repositioning, and performance excellence.

• Focus on wind repowering and BESS for organic growth, with capital recycling and a build & sell model for accretive investments.

• 230MW under construction, all with secured long-term contracts, and a sizeable repowering pipeline in Italy and abroad.