Slide 1: Q2 2025 Growth momentum continues
Q2 2025 Growth momentum continues CEO, Terje Pilskog CFO, Hans Jakob Hegge
Slide 2: Disclaimer
Disclaimer The following presentation is being made only to, and is only directed at, persons to whom such presentation may lawfully be communicated (’relevant persons’). Any person who is not a relevant person should not rely, act or make assessment on the basis of this presentation or anything inc
Slide 3: Key highlights
Q2 2025 Key highlights Key figures - proportionate Proportionate revenues up 51% and EBITDA up 19% Figures in brackets are same quarter last year Total revenues and other income Power production High construction activity with 11.4% D&C margin 2,302 940 NOK million GWh All-time high backlog followin
Slide 4: 48% revenues increase driven by the Philippines
Power Production 48% revenues increase driven by the Philippines Power production Revenues GWh NOK million +48% +10% 995 1,312 940 359 12 33 -137 28 -12 18 858 31 128 35 Botswana 1,045 -156 231 889 Q2’24 Divested Q2’24 Philippines Laos New Other Q2’25 Q2’24 Divested Q2’24 Philippines Laos New Other
Slide 5: Strong performance and higher AS rate approved
Philippines Strong performance and higher AS rate approved Power Production, GWh Net Revenue, NOK million Strong year on year performance PP Spot volumes PP Contract volumes Ancillary Services retroactive effect AS volumes Ancillary Services 108 106 Power Production 493 • Approval of Ancillary Servi
Slide 6: All-time high construction activity
Construction All-time high construction activity 1,979 MW under construction Expected COD 273 MW solar H2 2025 Grootfontein, South Africa • Good progress across the 120 MW solar construction portfolio H2 2025 Sidi Bouzid and Tozeur, Tunisia 60 MW solar • Remaining contract value of NOK 6 H1 2026 bil
Slide 7: Momentum continues with 5.2 GW of growth projects
Profitable growth Momentum continues with 5.2 GW of growth projects 3.2 GW in backlog1, 2 +2 GW under construction1 =5.2 GW1,2 to be built over the coming years Haru BESS - NEW Obelisk Solar BESS (MW) Wind Hydro Green H2 123MW/492MWh BESS 1.1GW Solar + 100MW/200MWh BESS Kroonstad Cluster - NEW Binga
Slide 8: Scatec adds largest solar award to date in South Africa
Scatec adds largest solar Strong and growing portfolio award to date in South Africa of stable, long-term cash flow • 846 MW of additional solar awarded in South Africa MW MW MWh 4 1 540 225 1,140 Kenhardt 1 • 1.4 GW solar and 226 MW/904 MWh BESS 5 6 2 190 Kalkbult, Linde, Dreunberg 7 under construc
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Slide 10: Financial review
Financial review Hans Jakob Hegge, CFO
Slide 11: Strong financial performance driven by the Philippines and high D&C activity
Group financials Strong financial performance driven by the Philippines and high D&C activity Consolidated financials Proportionate financials NOK million NOK million Revenue EBITDA Revenue EBITDA +12% +51% 2,967 +10% 2,659 2,684 2,416 2,387 2,302 1,814 +19% 1,505 1,528 1,520 1,316 1,375 1,379 1,172
Slide 12: Significant 12 month rolling growth, driven by divestments and the Philippines
Power Production Significant 12 month rolling growth, driven by divestments and the Philippines Quarterly 12 months rolling NOK million NOK million Revenue EBITDA Revenue EBITDA +26% 1,772 +51% 1,625 1,623 +27% 1,540 6,332 +60% 6,065 1,352 1,390 5,504 5,392 1,312 5,155 4,923 1,110 4,635 1,045 4,189
Slide 13: Increasing activity levels across the construction portfolio
Development & Construction Increasing activity levels across the construction portfolio1 Quarterly 12 months rolling NOK million NOK million Revenue EBITDA Revenue EBITDA 1,038 3,396 233 976 112 2,890 202 183 751 2,477 2,291 631 139 139 1,785 470 51 49 26 13 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q2’24 Q3’24
Slide 14: Strong liquidity position of NOK ~4.4 billion
Free cash on group level Strong liquidity position of NOK ~4.4 billion Q2’25 movements of the Group’s free cash & liquidity, NOK million 4,391 20 -71 3,004 327 -251 2,371 -15 -119 -875 2,021 Q1’25 Distributions from EBITDA from D&C Taxes Changes in Other changes Cash flow from CF from financing Q2’2
Slide 15: Strengthening of the balance sheet continues
Proportionate net interest-bearing debt Strengthening of the balance sheet continues Corporate Project net interest-bearing debt net interest-bearing debt* • Repaid NOK ~300 million of NOK billion NOK billion corporate debtCort 5.6 13.4 13.6 5.2 1.9 2.7 • NOK ~800 million drawn for projects under co
Slide 16: Gross corporate debt down by 2.4 billion (26%)
Corporate debt Gross corporate debt down by 2.4 billion (26%) • Gross corporate debt reduced by Steady debt repayments on corporate level driving lower interest expenses NOK 0.6 billion in the quarter Gross corporate interest-bearing debt (NOK billion) • Repaid NOK 0.3 billion • FX effect NOK 0.3 bi
Slide 17: Outlook
Outlook Power Production • FY’25 Power Production estimate: 4,000 - 4,300 GWh • FY’25 EBITDA estimate: NOK 4,150 - 4,450 million • Q3’25 Power production estimate: 1,100 – 1,200 GWh • Q3’25 Philippines EBITDA estimate: NOK 280 – 380 million Development & Construction • Remaining D&C contract value:
Slide 18: Key takeaways
Key takeaways • Strong financial performance • Growth momentum continues • Committed to continue reducing corporate debt 18
Slide 19: Scatec
Scatec
Slide 20: Our asset portfolio
Our asset portfolio Plants in operation Capacity Economic Under construction Capacity Economic Project pipeline Capacity Share in % MW interest MW Interest MW South Africa 955 41% Obelisk, Egypt 1225 100% Solar2 4,497 58% Brazil 693 33% Grootfontein, South Africa 273 51% Wind 1,919 25% Philippines 6
Slide 21: Overview of change in proportionate net interest-bearing debt during the quarter
Overview of change in proportionate net interest-bearing debt during the quarter Project and Group level net interest bearing debt NOK billion Q1’25 Repayments New debt Disposal Change in FX and other Q2’25 cash changes Project level -13.4 0.6 -1.3 0 0.2 0.4 -13.6 Group level -5.2 0.3 0 0 -0.9 0.2 -