Eolus Vind AB interim report June 1 2020 – August 31 2020

Hässleholm, Sweden, October 21^st, 2020

3 Months June 2020 – August 2020

• Net sales 456.9 (1033.7) MSEK.
• EBIT 76.8 (72.0) MSEK. Profit before tax 37.6 (72.6) MSEK. Net profit 32.8 (81.0) MSEK.
• Earnings per share, before and after dilution equals 1.32 (3.25) SEK.
• During the three month period 38 (28) wind turbines were taken into operations with a total installed capacity of 160.3 (104.4) MW.
• During the three month period the equivalent of 39 (29) wind turbines with an installed capacity of 161.1 (105.2) MW was handed over to customers.
• At the end of the period Eolus had 903 (524) MW under asset management.
• In July Eolus signed a cooperation agreement with SCA regarding development of wind power projects. The goal is to reach around 1 000 MW of projects for realization in Sweden, Estonia and Latvia.
• In July Eolus signed an agreement to acquire seven wind power projects in early development phase from Vindkraft Värmland. Together the projects can facilitate up to approximately 450 MW.
• On August 27^th, an Extraordinary General Meeting was held that decided to change the company’s financial year to run from January 1^st to December 31^st. The current financial year is extended to cover a period of 16 months, September 1^st, 2019 to December 31^st, 2020.
• In August wind farm Bäckhammar (130 MW) was completed and handed over to KGAL who has signed a PPA with Amazon Web Services. Bäckhammar is the first wind farm outside North America to be commissioned with a PPA with Amazon Web Services. Eolus will deliver technical and administrative services for the wind farm.
• In August wind farm Stigafjellet (30 MW) was completed and handed over to ewz. The wind farm is the first Eolus completes in Norway and Eolus will deliver technical and administrative services for the wind farm.

Significant events after the balance sheet date

• In September Eolus signed an agreement with Commerz Real regarding the sale of the wind farms Boarp (24 MW), Dållebo (26 MW) and Rosenskog (18 MW) totaling 68 MW for a preliminary purchase price of EUR 82.5 million. An agreement have been signed with Siemens Gamesa Renewables for delivery of 7 Siemens Gamesa SG 5.8-170 wind turbines and 4 Siemens Gamesa SG 5.8-155 wind turbines to the wind farms which are expected to be completed in the autumn of 2023. Eolus will deliver technical and administrative services for the wind farms.
• In October Eolus signed an agreement with Cubico Sustainable Investments regarding the sale of the turn key wind farm Wind Wall 1 (46.5 MW) located near Tehachapi in California, USA. Construction is ongoing and Wind Wall 1 is expected to be completed during the autumn of 2020.