VivoPower PLC (VIVO) Company presentation summary

Strategic direction and business model

• Focused on developing, owning, and leasing powered land and powered shell data centers, primarily in the Nordics, targeting AI and high-performance computing tenants without GPU technology risk.

• Business model leverages a capital recycling flywheel, refinancing stabilized assets to fund new projects, aiming for a development-to-refinancing cycle of 18–24 months and >5x MOIC at the project level.

• Targeting long-term, triple-net leases (10–15 years) with hyperscalers, sovereign cloud providers, and AI neoclouds, ensuring recurring infrastructure revenues.

• Strategic repositioning from diversified sustainable energy to a pure-play sovereign AI digital infrastructure platform, with the spin-off of Tembo and divestment of Aevitas.

• Nordic region selected for its low-cost, renewable power, fast grid connection, and favorable climate, positioning as a core growth market for AI data centers.

Portfolio, pipeline, and growth vision

• Operational anchor asset in Mo i Rana, Norway (41.5MW), with plans to convert to AI data center and expand to 81.5MW, targeting $130m annual EBITDA post-conversion.

• Controlled and qualified pipeline of ~3.3GW (net), including 1.2GW (net) in FCDC Corp Oy (28% stake, subject to SPA closing), and 1.9GW in commercial negotiations.

• Additional sites in Finland, Sweden, Croatia, Austria, Switzerland, and UAE, with a 25MW UAE site scalable to 100MW and multiple Finnish sites totaling over 1GW (net).

• 10-year strategic plan to scale up to 20GW of controlled power sites globally, targeting $10bn annual revenues and $5bn operating free cash flow by 2035.

• Track record of >10x MOIC in Nordic land development, leveraging local partnerships and sovereign-first approach.

Financials and unit economics

• Target land cost per MW of ~$500k and build cost per MW of <$10m, with grid access secured at < $0.05/kWh.

• Mo i Rana asset currently generates ~$10m EBITDA from BTC hosting, with target uplift to >$60m post-AI conversion (41.5MW) and ~$130m at full 81.5MW capacity.

• Illustrative revenue bridge shows annual revenue rising from ~$31m (BTC) to ~$140m post-full AI deployment and expansion.

• Capitalization table shows 29.7m ordinary shares on issue, with fully diluted shares at 51.6m and post-PIPE 1 at 58.9m; net interest-bearing debt of $25m as of Dec 2025.

• Strategic private placement to HRH Prince Abdul Aziz (20m shares at $6.05/share) for $121m gross proceeds, with 19m shares pending issuance.