Slides
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Presentation Q3 2025 Per - Erik Eriksson, CEO Markus Larsson, CFO
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Creating clean energy for a sustainable future! We want to be the obvious partner for investors in renewable electricity production and to create value throughout the life cycle We want to maximise the value of our green electricity production through professional operation, management, sales and financing
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Our business segments – A robust and complimentary business model 3 Production Development Solutions ~9,500 Project pipeline MW ~1,620 Divested since inception MW 172 Own production MW >430 Annual production* GWh ~2,350 Assets under management MW ~105 Assets under construction MW * Budgeted P50
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Development Project sales Current f ocus areas by geography 4 Production Development Asset Mgmt Construction Mgmt Project sales Development Project sales Asset Mgmt Development Development Asset Mgmt Development 2021 2025
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Diversification journey continues 5 ▪ Fast moving organization, rapidly capitalizing on our know - how ▪ Example 1 : German market entry ▪ 3 employees end of Q3 ▪ Fast growing pipeline – acquisition of project rights and greenfield growth ▪ Transactions expected already in 2026 ▪ Example 2 : Data center development ▪ Clear synergies with, and natural evolution of, our development business ▪ Requires land, grid, fibre infrastructure and permit – all within our normal scope ▪ First project already in early stage – land secured, grid capacity and fibre infrastructure available ▪ Estimated capacity of 400 MW which is a hyper - scale data center where profit potential would be significant
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6 Net sales and results ▪ Net sales for the quarter decreased to MSEK 88 (105) ▪ EBITDA totalled MSEK 22 (55) ▪ EBIT amounted to MSEK - 1 (33) ▪ Extraordinary cost in July of approx. - 15 MSEK related to the acceleration of Kölvallen ▪ Profit after tax totalled MSEK - 9 (24) representing SEK - 0.18 (1.55) per share (attributable to parent company shareholders) ▪ Operating cash flow was MSEK 322 (43) and cash flow after investments amounted to MSEK 251 ( - 8) ▪ Production generated 64 GWh (66) with an average income of SEK 434 per MWh (469) MSEK Q3 2025 Q3 2024 9m 2025 9m 2024 Net sales 88 105 337 317 EBITDA 22 55 107 178 EBIT - 1 33 40 120 Profit before tax - 9 24 0 101 Profit after tax - 9 63 0 139
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7 Kölvallen earn - out contributed to EBITDA by 3 MEUR. No revenue recognition in Fasikan due to uncertainties in project costs. Late - stage portfolio increased by approx. 500 MW. Development Slight decrease in both production and realised prices. The grid between Fasikan and the connection point to the regional grid was commissioned. The grid impacted EBITDA by approx. 3 MSEK. Production Full - quarter effect from Kölvallen OMA (into force in June). New assignment with EIP / Fortum of 350 MW will be in force as of November 2025. Solutions Our segments 25 MSEK Q3 EBITDA 18 MSEK Q3 EBITDA 3 MSEK Q3 EBITDA
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8 ~9.5 GW Total portfolio >1.7 GW Late stage >7.7 GW Early stage Late stage development Sweden 230 MW UK 340 MW Finland* 1,180 MW Total 1,750 MW Early stage development Sweden** ~4,530 MW Norway ~260 MW UK ~960 MW Finland* ~1,860 MW Germany ~120 MW Total ~7,730 MW Wind power Solar power Storage / Data centers *) Pohjan Voima’s total portfolio, Arise’s share amounts to 51% **) Including total potential of 1,000 MW from SCA partnership. Arise’s future share amounts to 49% ~9.5 GW portfolio – on track to meet 10 GW financial target Sweden** Norway Finland* UK Storage / Data centers Solar Wind
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9 Increasing forward prices on normalised hydrology − Normalised hydrology with surplus in north and deficit in south − Fuel prices rather stable − European forward power prices sideways in general Relatively strong spot pricing in south Sweden − SE3/SE4 spot average delivering decisively higher year - on - year − Balancing market still volatile but somewhat calmer over the quarter Continental power prices stable in general − Gas prices stable on continuous injection demand during summer − Macroeconomic uncertainty and low energy consumption − Material gap between Nordics and continental Europe remains Market development Cal - 26 prices, EUR / MWh Spot prices (NP), EUR / MWh 0 20 40 60 80 100 SYS SE4 SE3 0 20 40 60 80 100 120 SYS MAL STO DE
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10 Ending 2025 ▪ Ongoing transactions (Solar + BESS in UK, BESS in Finland) ▪ Target to reach 400 MW in total 2024 - 2025 remains ▪ Good traction in processes but challenging from a timing perspective ▪ Our strategy with d iversification continues and is expected to contribute going forward ▪ We have the means for both organic growth and selective acquisitions ▪ Solid cash position and c ost - efficient access to 40 MEUR facility ▪ Strong t rack - record and excellent in - house resources ▪ Well positioned to catch opportunities in soft markets
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Thank you!