Slides
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MAKING CLEAN ENERGY HAPPEN Webcast – Half-Year 2025 Results 31 July 2025
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| | FORWARD-LOOKING STATEMENTS MPC Energy Solutions Webcast 2 Certain information and statements shared in this document, including financial estimates and comments about our plans, expectations, beliefs, or business prospects, and other information and statements that are not historical in nature, may constitute forward -looking statements under the securities laws. We make these statements on the basis of our views and assumptions regarding future events and business performance at the time we make them. We do not undertake any obligation to update these information and statements in the future . Forward -looking statements are subject to a number of risks and uncertainties, and actual results may differ materially from the results expressed or implied in light of a variety of factors, including factors contained in our financial statements, filings, and other releases .
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| | | | Webcast – H1 2025 Results AGENDA 3 Objectives 2025 H1 Results Outlook 2025 Q&A
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| | 4| Objectives 2025 MPC ENERGY SOLUTIONS
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| | Return cash to shareholders OBJECTIVES 2025 Webcast 5 Maximizing shareholder value: operating portfolio vs. divestments Connect San Patricio (Guatemala) to the grid and deliver first power1 Generate positive free cash flows ➢ Improved project operating margins ➢ Overhead cost reduction ➢ Selective spending on development 2 Increase free cash position ➢ Project divestments ➢ Cash-back from operating projects 3
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| | 6| H1 Results MPC ENERGY SOLUTIONS
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| | Highlights H1 2025: OPERATING MARGINS CONTINUE TO IMPROVE Webcast 7 Year-end guidance confirmed Operating profit and profit margins improved significantly year -over-year+ Agreement to sell Planeta Rica (Colombia) signed, closing in late Q3/early Q4+ Construction in Guatemala completed; waiting for permits to commence and conclude testing phase+ On track to achieve year -end guidance and 2025 objectives+
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| | H1 2025: OPERATING MARGINS CONTINUE TO IMPROVE Webcast 8 Unaudited, proportionate values Rounding differences may occur + The improvements our portfolio already demonstrated during the first quarter compared to 2024 continued during the second quarter, as we managed to outpace most key metrics year-over- year. + Despite operating fewer projects than in 2024, we managed to increase the energy output from our portfolio. + While we managed to generate stable revenues and better operating margins compared to the previous year, the like-for-like comparison tells the complete story: Our existing projects perform much better than in 2024. Energy Output (proportionate, GWh) Project EBITDA and Margin (proportionate, thousand USD) Project Revenue (proportionate, thousand USD) 6,059 H1 2024 H1 2025 6,104 60.559.1 4,4093,889 +2% -1% +13% H1 2024 H1 2025 H1 2024 H1 2025 73%64% 336770 Contribution from Neol CHP (Puerto Rico), which was sold in late 2024 Like-for-like: +14% Like-for-like: +24% Like-for-like: +4% 1.1
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| | H1 2025: PROJECT PERFORMANCE Webcast 9 Unaudited, proportionate values + Mexico: The cost reduction and performance optimization implemented by our team continues to bear fruit. The plan is demonstrating its full potential, as higher revenues and lower costs drive operating margins to appropriate levels. + El Salvador: We continue to benefit from high reference tariffs and even saw our energy output increase by double digits. At the moment, this project is the driver behind our improved group numbers. + Colombia: While the market environment remains challenging, our projects’ performances mostly improved year-over-year. Trading losses for Los Girasoles remain under control, and we already signed an agreement to sell our financial interest in Planeta Rica later this year. Project Country Energy Output (GWh) Revenue (kUSD) EBITDA (kUSD) EBITDA margin Los Santos I Mexico 18.3 2,100 1,582 75% Santa Rosa / Villa Sol El Salvador 21.3 2,491 2,185 88% Los Girasoles Colombia 10.6 835 307 37% Consolidated group 50.2 5,427 4,074 75% Planeta Rica* Colombia 10.3 632 335 53% Proportionate values 60.5 6,059 4,409 73% Rounding differences may occur * MPCES owns 50% in Planeta Rica; agreement to sell has been signed, closing during second half of 2025 Project Country Energy Output (GWh) Revenue (kUSD) EBITDA (kUSD) EBITDA margin Los Santos I Mexico +0% +3% +7% +3%-points Santa Rosa / Villa Sol El Salvador +12% +27% +37% +6%-points Los Girasoles Colombia -3% +16% +313% +27%-points Planeta Rica* Colombia +6% +3% -18% -14%-points Comparison to H1 2024
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| | 10Webcast Overhead Costs + Overhead spending remains under control, and we expect significant reductions year-over-year in Q3. + Our goal this year remains to lower overhead by around 15-20% compared to 2024. Free Cash + We project our free cash position to increase significantly in the coming weeks, mainly driven by (a) proceeds from project divestments (Planeta Rica, Neol CHP), (b) cash back from operating projects, (c) tax repayments and (d) lower overhead spending. + Our goal remains to distribute cash to shareholders this year.H1 2025 1,828 H1 2024 1,858 Personnel Costs and Other Overhead (in thousand USD) -2% H1 2025: FREE CASH TO INCREASE IN COMING WEEKS Unaudited, consolidated values 31/03/2025 3.3 31/12/2024 4.2 Free Cash (in million USD) 30/06/2025 2.2 8.0 to 9.0 YE Forecast
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| | H1 2025: GROUP EBITDA SIGNIFICANTLY INCREASES YOY Webcast 11 Unaudited, consolidated values Rounding differences may occur + The consolidated group results mirror the proportionate results for the first half of 2025. + The project EBITDA margin of 75% marks a significant improvement compared to 2024. + The higher profits generated by our projects – given our controlled overhead spending – translate directly to higher group profit margins as well. Consolidated, all values in thousand USD, negative values in “()” H1 2025 H1 2024 Delta Revenue 5,427 5,544 -2% Project OpEx (1,353) (2,036) -34% Project EBITDA / Gross Profit 4,074 3,508 +16% Overhead (1,828) (1,858) -2% Group EBITDA 2,246 1,650 +36% Depreciation, amortization, impairment charges (2,021) (2,184) -7% Group EBIT 225 (534) Project EBITDA margin / gross margin 75% 63% Group EBITDA margin 41% 30% Group EBIT margin 4% -10%
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| | Webcast 12 H1 2025: OTHER FINANCIAL PARAMETERS Unaudited, consolidated values USD 128.4 million Total Assets 37% Equity Ratio USD 11.3 million Consolidated Cash (USD 0.06) EPS
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| | 13| Outlook 2025 MPC ENERGY SOLUTIONS
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| | Webcastq 14 SAN PATRICIO: CONSTRUCTION COMPLETED Permits allowing us to test the plant prior to commercial operations are pending + We originally planned to connect the plant to the grid and commence operations in July 2025. However, we are currently awaiting permits from several authorities to commence the next phase. + Construction of the plant is completed, and total CapEx is within budget. + The total equity invested by MPCES is USD 8.5 million. Local bank BAC is providing a USD 34 million non-recourse project finance loan, which has been fully disbursed. + Once completed and during a full year of operations, San Patricio is expected to generate more than USD 8 million in revenues with EBITDA margins of more than 80%. Solar plant Substation
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| | GUIDANCE 2025 Webcast 15 Proportionate values, please refer to disclaimer on forward -looking statements Rounding differences may occur + Despite the delay in Guatemala, our year-end guidance remains unchanged. + Our guidance did originally not include any contribution from our project in Colombia, which generated USD 1.5 million revenue and USD 0.6 million EBITDA in the first half of 2025, which covers the expected lower revenue and EBITDA contributing of the Guatemalan project in 2025. + In addition, the better-than-expected performance of our projects in Mexico and El Salvador help mitigate the potential downside. Energy Output (proportionate, GWh) Project EBITDA and Margin (proportionate, million USD) Project Revenue (proportionate, million USD) 12.0 to 13.0 2024 2025PLAN 12.8 116 9.0 to 9.5 7.9 2024 2025PLAN 2024 2025PLAN 70% to 80% 61% 140 to 145 +20%
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| | 16| Q&A MPC ENERGY SOLUTIONS
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| | ALTERNATIVE PERFORMANCE MEASURES MPC Energy Solutions Webcast 17 To supplement our consolidated financial statements presented on International Financing Reporting Standards (IFRS) basis, we disclose certain non-IFRS financial measures (Alternative Performance Measures, APM), including, without being limited to, proportionate energy output numbers, proportionate revenues, and proportionate earnings before interest, taxes, depreciation and amortization (EBITDA) and earnings before interest and taxes (EBIT), including percentages and ratios derived from those measures . Both EBITDA and EBIT are commonly used performance indicators in the Company’s industry . These APMs are not necessarily in accordance with generally accepted accounting principles stipulated by IFRS and should not be considered in isolation from or as a replacement for the most directly comparable IFRS financial measures . Furthermore, other companies may calculate these APMs differently than we do, which may limit the usefulness of those measures for comparative purposes . Management uses supplemental APMs to evaluate performance period over period, to analyze the underlying trends in our business, to assess our performance relative to our competitors and to establish operational goals and forecasts that are used in allocating resources . In addition, management uses APMs to further its understanding of the performance of our operating projects and help isolate actual performance from adjustments required by accounting standards .
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| | DISCLAIMER MPC Energy Solutions Webcast 18 This presentation has been prepared by MPC Energy Solutions N.V. (the “Company”) and is general background information about the Company’s activities at the date of this presentation. The information in this presentation is provided in summary form only and does not purport to be complete. This presentation does not contain all the information that is or may be material to investo rs or potential investors and should not be considered as advice or a recommendation to investors or potential investors in resp ect of the holding, purchasing or selling of securities or other financial instruments and does not take into account any investor’s par tic ular objectives, financial situation or needs. By reading or using this presentation, you acknowledge that you have read, und ers tood and agreed to the below terms and conditions. If you do not agree to these terms and conditions, you may not read or use the pres ent ation. 1. Use of presentation. The information provided on this presentation is for general informational purposes. This presentation m ay not be relied upon for the purpose of entering into any transaction and should not be construed as, nor be relied on in conne cti on with, any offer or invitation to purchase or subscribe for, underwrite or otherwise acquire, hold or dispose of any securitie s o f the Company, and shall not be regarded as a recommendation in relation to any such transaction whatsoever. 2. Content. The Company will use reasonable efforts to include accurate and up -to-date information into this presentation but makes no warranties or representations of any kind as to its accuracy, currency or completeness. You agree that the use of this presentation and the content thereof is at your own risk. The Company disclaims all warranties, express or implied, including warranties of merchantability or fitness for a particular purpose. Neither the Company nor any party involved in creating, prod uci ng or delivering this presentation shall be liable for any damages, including without limitation, direct, incidental, consequential , i ndirect or punitive damages, arising out of access to, use of or inability to use this presentation, or any errors or omissio ns in the content thereof. This limitation includes damages to, or for any viruses that infect, your computer equipment. 3. Indemnification. You agree to indemnify, defend and hold harmless the Company, its officers, directors, employees, agents, su ppl iers and third -party partners from and against all losses, expenses, damages and costs, including reasonable attorneys' fees, resulting from any violation by you of these terms and conditions. 4. Forward Looking Statements. This presentation contains forward -looking statements about the Company's financial and operating pe rformance, business plans and prospects that involve substantial risks and uncertainties. Actual results could differ materia lly from the expectations and projections set forth in those statements. Such risks and uncertainties include, among other things , t he uncertainties inherent in development, construction and operation of renewable energy assets; competitive developments; et c. The Company assumes no obligation to update any forward -looking statements as a result of new information or future events or de velopments. 5. Copyrights. The entire contents of this presentation are subject to copyright protection. Copyright © 2023 MPC Energy Solutio ns N.V. The contents of this presentation may not be copied other than for noncommercial individual reference with all copyright or other proprietary notices retained, and thereafter may not be recopied, reproduced or otherwise redistributed. Except as expr ess ly provided above, you may not otherwise copy, display, distribute, modify, reproduce, republish or retransmit any informatio n, text or documents contained in this presentation or any portion thereof in any electronic medium or in hard copy, or create any de riv ative work based on such images, text or documents, without the express written consent of the Company. 6. Void Where Prohibited. This presentation and its contents are intended to comply with the laws and regulations in Norway and the Netherlands. Although this presentation is accessible to users outside of Norway or the Netherlands, the information is inten ded for use only by residents of Norway or the Netherlands Other countries may have laws, regulatory requirements and practices tha t differ from those in Norway or the Netherlands. 7. Governing Laws. These terms and conditions and your use of presentation shall be governed by the laws of Norway without regar d t o its conflicts of laws principles. Any legal action or proceeding related to this presentation shall be brought exclusively in a federal or state court of competent jurisdiction sitting in Oslo, Norway. 8. Miscellaneous. If any provision of these terms and conditions is held to be unlawful, void or unenforceable, then such provis ion shall be severable without affecting the enforceability of all remaining provisions. The Company reserves the right to alter or delete the content of this presentation at any time at its discretion. 31 July 2025
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| | CONTACT INFORMATION MPC Energy Solutions N.V. Apollolaan 151, Unit 121 1077 AR Amsterdam The Netherlands Investor Relations & Public Relations Email: IR@mpc -energysolutions.com www.mpc -energysolutions.com Webcast 19