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WEBCAST Q3 2025 RESULTS 6 November 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 – Q3 2025 Results AGENDA 3 Review Q3 2025 What‘s next? Q&A
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| | 4| Review Q3 2025 MPC ENERGY SOLUTIONS
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| | LowlightsHighlights Q3 2025: HIGHLIGHTS AND LOWLIGHTS Webcast 5 Operating margins and cost position continue to improve; free cash up significantly following divestments Key metrics YTD up significantly year -over-year with substantially improved operating margin + Overhead expenses YTD down 14% compared to 2024 and 40% compared to 2023 + Project in Guatemala still awaiting final permits to commence testing and commissioning prior to operational start - Progress made on additional divestments.+ Free cash increased to USD 9.6 million following divestment of Planeta Rica (Colombia) and collection of remaining payment related to Neol CHP (Puerto Rico) + Guidance for 2025 revised to lower -end of previously communicated range due to delay in Guatemala -
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| | Q1-Q3 2025: IMPROVED OPERATIONAL METRICS Webcast 6 Unaudited, proportionate values, like -for-like Rounding differences may occur + The key metrics displayed are like-for-like, i.e. they exclude the contributions from Neol CHP (Puerto Rico), a project that was sold at the end of 2024. + An overall high technical availability of our plants and favorable energy prices in El Salvador led to substantial increases in energy output and revenue year-over-year, in part compensating for weaker irradiation levels across the region YTD. + Higher revenues and cost optimization measures have led to a significant improvement of operating margins in our portfolio. + At the end of Q3 2025, we divested our stake in Planeta Rica (Colombia), a lower-margin projects. This should support higher margins going forward. Energy Output (proportionate, GWh) Project EBITDA and Margin (proportionate, million USD) Project Revenue (proportionate, million USD) 9.2 Q1-Q3 2024 Q1-Q3 2025 8.6 91.688.3 6.8 5.9 +4% +7% +15% Q1-Q3 2024 Q1-Q3 2025 Q1-Q3 2024 Q1-Q3 2025 74% 67%
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| | Q1-Q3 2025: PROJECT PERFORMANCE Webcast 7 Unaudited, proportionate values + Mexico: Lower irradiation levels in Q3 2025 led to a weaker-than-expected output and revenue for the quarter. The project’s operating margin has improved significantly year-over-year, though, as the cost optimization bears fruit. + El Salvador: Our plant remains on track to achieve a record year. Since we sell our energy at a fixed discount to reference market prices, we benefit from higher energy prices in the country. + Colombia: The technical performance of our plant Los Girasoles was good and is stable. The cost structure remains a challenge as higher security costs and losses from energy trading weigh down our margin. Our stake in Planeta Rica was divested at the end of Q3 2025 and will no longer contribute to our top and bottom line beyond that period. Project Installed Capacity (MW) Country Energy Output (GWh) Revenue (mUSD) EBITDA (mUSD) EBITDA margin Los Santos I 15.8 Mexico 27.1 3.1 2.4 76% Santa Rosa / Villa Sol 21.3 El Salvador 32.7 3.8 3.3 88% Los Girasoles 12.3 Colombia 16.2 1.2 0.5 39% Consolidated group 49.4 76.0 8.2 6.2 76% Planeta Rica* 13.3 Colombia 15.6 1.0 0.6 60% Proportionate values 62.7 91.6 9.2 6.8 74% * MPCES divested its financial interest in Planeta Rica at the end of Q3 2025 Rounding differences may occur
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| | Q1-Q3 2025: COSTS DOWN, MARGINS UP, FREE CASH UP Webcast 8 Full-year overhead reduction of 15% projected for 2025 Q1-Q3 2023 Q1-Q3 2024 2.9 4.2 -14% Q1-Q3 2025 2.5 Q1-Q3 2022 3.4 -40% + As projected, overhead costs have fallen below their 2024 level following additional reduction measures implemented during the first half of 2025. + Spending on overhead is now down 14% year- over-year and 40% compared to the same period in 2023. + Further costs reductions in 2026 would require a more substantial change to the setup of MPCES as remaining costs mainly consist of payroll, board compensation and listing-related expenses, incl. legal advisory, tax advisory and audit fees. Overhead Costs (million USD) Rounding differences may occur
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| | Q1-Q3 2025: COSTS DOWN, MARGINS UP, FREE CASH UP Webcast 9 Free cash reserves provide room to maneuver 30/06/25 30/09/25 8.7 2.2 31/10/25 9.6 31/12/24 4.2 + We define free cash as unincumbered cash available for project investments, development expenses, overhead spending and - in principle and factoring in future commitments in the afore-mentioned categories - distributions to shareholders. + We made good progress in increasing our free cash position by divesting projects. We are also in an advanced stage of additional (sizeable) project divestments. The lower overhead cost structure and only few remaining commitments provide us with room to maneuver. + We are therefore planning to cash distributions to our shareholders in the near future (returning capital). Details regarding the magnitude and timing will be communicated around year-end 2025 when we have greater visibility on additional project divestments and operational cash flows. Free Cash (million USD) Rounding differences may occur Sale of Planeta Rica
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| | Q1-Q3 2025: GROUP EBIT(DA) SIGNIFICANTLY INCREASES YOY Webcast 10 Unaudited, consolidated values Rounding differences may occur + On a consolidated basis, gross profit, EBITDA, EBIT and the corresponding margins increased year-over-year as we optimized our portfolio through divestments and cost reduction measures. + Following the sale of Planeta Rica (Colombia), we decided to take a voluntary impairment charge to the remaining book value of the asset in the amount of USD 1.4 million (excluding transaction costs triggered by the sale). + Earn-outs agreed to as part of the sale could allow us to potentially collect additional payments from the sale through 2026, which would then be directly recorded as profits during the year. Consolidated, all values in million USD, negative values in “()” Q1-Q3 2025 Q1-Q3 2024 Delta Revenue 8.2 8.9 -8% Project OpEx (2.0) (2.9) -32% Project EBITDA / Gross Profit 6.2 6.0 +4% Overhead (2.5) (2.9) -14% Group EBITDA 3.7 3.1 +21% Depreciation, amortization (2.6) (3.1) Group EBIT before impairment charges 1.1 (0.0) Impairment charges (2.2) (1.4) Group EBIT after impairment charges (1.1) (1.4) Project EBITDA margin / gross margin 76% 67% Group EBITDA margin 45% 34% Group EBIT margin 14% -1%
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| | Webcast 11 Q1-Q3 2025: OTHER FINANCIAL PARAMETERS Unaudited, consolidated values USD 126.2 million Total Assets 37% Equity Ratio USD 14.7 million Consolidated Cash (USD 0.08) Adjusted EPS
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| | 12| What’s next? MPC ENERGY SOLUTIONS
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| | WHAT’S NEXT? Webcast 13 Outlook for year -end 2025 and beyond Year-End Guidance 2025 Operational Start Guatemala Cash Distribution to Shareholders + The construction is completed, and the plant is mechanically ready-for-testing. + 1 of 3 permits required to commence the testing and commissioning phase has been secured. + The timeline to secure the remaining permits depends on the involved national and regional authorities, who also oversee permitting requirements for substations directly and indirectly affecting our plant. + All reasonable measures to accelerate the process have been taken. + Due to the delay in Guatemala, we revised our year-end guidance to the lower end of the previously communicated range. + The lack of contribution from Guatemala to the 2025 figures is in part compensated by the Colombian projects which were not considered in the original guidance. + Our free cash position puts us in a relatively comfortable position, especially with regards to lower overhead spending and fewer investment commitments. + We are therefore planning to make cash distributions to our shareholders in the near future (returning capital). + Details regarding the magnitude and timing will be communicated around year-end 2025 when we have greater visibility on additional project divestments and operational cash flows. Proportionate values Revised Guidance Original Guidance Energy output, GWh 114 140 to 145 Revenue, mUSD 12 12 to 13 Project EBITDA, mUSD 9 9 to 9.5 Group EBITDA, mUSD 6 6 to 7
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| | 14| Q&A MPC ENERGY SOLUTIONS
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| | ALTERNATIVE PERFORMANCE MEASURES MPC Energy Solutions Webcast 15 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 16 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. 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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. 6 November 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 17