Orron Energy Ab · OMXSTO:ORRON
Orron Energy Ab — Q1 2026 Earnings Presentation
13 slides from Orron Energy Ab's earnings presentation, May 6, 2026
Slide 1: Q1 Results 6 May 2026
O1. Results 6 May 2026
Slide 2: Orrön Energy
ORRON ENERGY ~ QI 2026 RESULTS Orron Energy Part of the entrepreneurial LUNDINGROUP of companies ZN 380 MW of producing assets Delivering long-term recurring cash flow Large-scale greenfield pipeline Value creation through early- stage project development e Fully funded for growth Enabling growth th
Slide 3: First Three Months 2026
ORRON ENERGY — Q] 2026 RESULTS First Three Months 2026 231 GWh INCLUDING COMPENSATED VOLUMES POWER GENERATION REVENUES 17 MEUR EBITDA®) 6 MEUR AT 67 EUR/MWH ACHIEVED PRICE NET DEBT 90 MEUR 400 MW OF GERMAN SOLAR PROJECTS 23 DIVESTED LAST 12 MONTHS MEUR TOTAL CONSIDERATION INCLUDING CONTINGENT PAYMEN
Slide 4: Power Generation
ORRON ENERGY — Q] 2026 RESULTS Power Generation High achieved price led to strong quarterly revenues in Q1 Production on track to meet the full-year Production Outlook 2026 350 80 EUR/Mwh achieved in Qt 300 ie 293 278 60 250 262 e 236 oe 50 200 = 197 rc) 184 e ry 40 160 165 e J 30 ‘ae v 144 100 20 v
Slide 5: Value Creation through Greenfield Development
ORRON ENERGY — Q] 2026 RESULTS Value Creation through Greenfield Development German pipeline total consideration rn 4 A 23 MEUR for divestments 6 Additional project sale of 91 MW in April 2026 for up to 5.6 MEUR Maturing pipeline covering solar, 17 MEUR GW battery and data centre projects enabling m
Slide 6: Financial Highlights
Financial Highlights First Quarter 2026 Results REVENUE () 17 MEUR EBITDA®) 6 MEUR POWER GENERATION 231 GwWh NET DEBT END QI INCLUDING COMPENSATED VOLUMES. ACHIEVED PRICE 67 EUR/MWh "DEBT FACILITY. All numbers proportionate | 1 Including revenue from project soles and otherincome |‘) Excluding non-c
Slide 7: Delivering in line with guidance
ORRON ENERGY ~ QI 2026 RESULTS Delivering in line with guidance Three Months 2026 Actuals OPERATING EXPENSES 2026 Guidance Gmeuvr [iy G&A EXPENDITURE 2 MEUR 8 meur SUDAN LEGAL COsTS(2) 2 MEUR 4 meur CAPITAL EXPENDITURE 2 MEUR § liQuaus gxctuding Sudan legal costs and non-cosh items ‘rial scheduled t
Slide 8: 2026 Key Financial Metrics
ORRON ENERGY — Q] 2026 RESULTS e e e 2026 Key Financial Metrics vos Ql Q2 Q3 Q4 Power generation (GWh) 251 188 135 226 Achieved price (EUR/MWh) 40 30 38 16.6 e z 10.1 107 = 57 8 6.3 31 = 25 "grSpeteder’ 1200) (7204) is as “8 ae 5.2 Ql Q2 Q3 Q4 Ql Ql Q2 Q3 Q4 Ql Ql Q2 Q3 Q4 Ql 2025 2026 2025 2026 202
Slide 9: Achieved Price
ORRON ENERGY — Q] 2026 RESULTS Achieved Price First Quarter 2026 91 84 3 = @ S| a Average Average Other Hedging Capture Average system regional revenues impact price achieved price spot price” discount price ‘Geographical spit based on actual power generation | Ancillary services and guarantees of o
Slide 10: Cash Flow and Net Debt
ORRON ENERGY — Q] 2026 RESULTS Cash Flow and Net Debt First quarter 2026 -85 31 -3.5 Opening | Net debt() Van 20260 89.1 MEUR <= 05 -2.2 16 ee 5 g L = Capital Project expenditure sales 5 I T 1 CFFO excluding Changes in Cash flow from Others working capital working capital investing activit ) Proport
Slide 11: 2026 Cash Flow Outlook
ORRON ENERGY ~ QI 2026 RESULTS 2026 average system price 2026 Cash Flow Outlook ~65 EUR/MWh Excluding future revenues from project sales 47 43 Achieved price 2026 (EUR/MWh) 40 45 50 Including Sudan, 39 legal costs , 2026 Baseload power 2 3 price hedges (Q2-Q4) 15 15 14 GWh EUR/MWh Hi 1 10 10 SE2 4 3
Slide 12: Creating value through the Energy Transition
ORRON ENERGY — Q] 2026 RESULTS Creating value through the Energy Transition ZN Long-term cash flow from operating wind farms and greenfield sales Large-scale project portfolio validated through project sales with high return on capital = Fully funded for growth through acquisition and investment Per
Slide 13: Disclaimer
ORRON ENERGY — Q] 2026 RESULTS Disclaimer Forward-Looking Statements Statements in this presentation relating to any future status or circumstances, including statements regarding future performance, growth and other trend projections are forward-looking statements. These statements may generally, b