Enlight Renewable Energy (ENLT) Corporate presentation summary

Strategic positioning and growth

• Global leader in renewable energy with operations across the U.S., Europe, and MENA, leveraging expertise in solar, wind, and storage technologies.

• Achieved ~3X growth every three years over the past decade, with a 40% revenue CAGR since 2018.

• Mature portfolio stands at 11.4 FGW, with a total portfolio of 38 FGW, including 3.9 FGW operational and 3.5 FGW under construction.

• Diversified business model combines greenfield development and IPP, controlling the full project value chain for superior returns.

• Balanced technology and geographic exposure, limiting regulatory and production risks.

Financial performance and projections

• 2026E revenues projected at $755-785 million, with EBITDA of $545-565 million.

• Annual recurring revenues expected to exceed $2 billion by end-2028, with mature portfolio run-rate expectations rising by ~$400 million this quarter.

• $4.3 billion raised in the past 12 months, including $2.7 billion in project finance and $1.4 billion in corporate finance and asset sales.

• Sustained ROE above 18% and average historic return on operating assets above 15%.

• Adjusted EBITDA margin expected at 70-80% for the coming years.

Portfolio and project execution

• U.S. portfolio includes 13.9 GW + 38.4 GWh, with 3.8 GW + 9.5 GWh in mature projects, all with secured long-term PPAs.

• Major projects include the CO Bar complex (2.4 FGW, $3b investment) and Snowflake A (1.1 FGW, $1.4b financial close), both in Arizona.

• Early commercial operation of Roadrunner and Quail Ranch projects doubled U.S. operating portfolio.

• Expansion into Germany and Poland's storage markets, with acquisitions and new projects underway.

• "Connect & Expand" strategy maximizes interconnection potential, with 3.8 FGW of expansions planned for 2025-27.