Energeia (ENERG) Fearnley Securities Renewables & Clean-Tech Conference Presentation summary

Company overview and operations

• Founded in 2010, Energeia has focused on solar PV power plants, with profitable operations in the Netherlands accounting for 75% of group assets.

• NOK 80m invested in Norwegian project development, with 9 projects in concession procedures totaling 580 MW and NOK 4bn in gross investment.

• Group NAV from Dutch activities is NOK 200m, or NOK 1.7 per share, with low trading volume and free float.

Financial performance and reporting

• Annual revenues and EBITDA have shown growth, with Dutch operations as the main contributor.

• Comprehensive and transparent financial reporting includes regular interim and annual highlights.

• Group cash position declined in H1 and Q3 2024, with negative results due to project development costs and delays in Norwegian projects.

• Additional liquidity is needed to support Norwegian development during the current phase.

Netherlands business update

• Market for small solar PV systems in the Netherlands dropped 95% in H1 2024, but Energeia offset this with increased sales of other energy systems and services.

• Small-scale battery system sales are rising due to regulatory changes on net-metering from 2027.

• Electricity production was 7.2% below average in FY 2024 due to extreme weather.