NHOA

Road to Masterplan10x – Where We Stand Today and Where We Are Going - Seite 2

The ambition in terms of points of charge online and under construction for 2030 remains of 35,000, with in parallel a fully funded targeted scenario that envisages 22,000 points of charge.

The assumptions needed to fulfill the 2030 fully funded 22,000 points of charge target is the following:

• Funding strategy:
  • €150-200 million coming from the 2023 capital increase
  • Positive EBITDA from 2025 enabling Atlante to raise bank financing in line with market practice debt to EBITDA ratios
  • 30% of the annual Capex to be funded via public grants and funding programs, e.g. the European Commission-driven Connecting Europe Facility (CEF)
• Market environment:
  • Electric vehicle adoption in line with current market expectations (e.g. Bloomberg New Energy Finance)
  • Low-double digit utilization rate and consistent occupancy rate

Additional assumptions needed to escalate from the 22,000 fully funded target to the 35,000 ambition are the following:

Funding strategy:

1. Potential strategic partners available to co-fund the roll-out of the Atlante network
2. Additional operating cashflows and related leveraged structure driven by:
   1. Electric vehicle sales acceleration in line with EU targets set within the Fit-for-55 objectives
   2. Utilization rate ranging from mid to high teens, in line with market peer expectations

In general, in the period ranging from 2023 to 2030, additional capital expenditure is expected to range between €75 thousand per fastcharger, and around €130 thousand per fastcharger integrated with storage and powered by solar energy.

Free2move eSolutions

NHOA expects for Free2move eSolutions, the joint venture with Stellantis, a Revenues target for 2025 at least of €200 million with EBITDA margin in the high teens.

For 2030, NHOA envisages Free2move eSolutions Revenues target to reach at least €500 million revenues with EBITDA margin in the high teens.

Additional and more detailed assumptions underlying the 2023 guidance and the 2025-2030 targets and ambitions above are set out in Chapter 11 of NHOA’s 2022 Universal Registration Document. Chapter 3 of the 2022 Universal Registration Document also sets out the risks factors that could negatively impact the achievement of these guidance, targets and ambitions.