Vivopower Plc · NASDAQ:VIVO
Vivopower — Investor Presentation (June 2026)
60 slides from Vivopower's investor presentation, Jun 26, 2026
Slide 1: Company Presentation June 2026
l@; W vivopowel me Company Presentation June 2026
Slide 2: Important information and disclaimer
2 'W vivorower Important information and disclaimer Introduction: This Presentation has been prepared by VivoPower PLC (the "Company", and together with its consolidated subsidiaries, the an offer, invitation or recommendation to purchase, sell or subscribe for any securities in any jurisdiction. ro
Slide 3: Summary of risk factors
Summary of risk factors Risks related to the Group's business and the industry in which it operates + The Group has limited operating history as a standalone data center platform focused on Al infrastructure + The Group operates in a competitive and rapidly evolving market + The Group's operational
Slide 4: Executive summary
Executive summary
Slide 5: VivoPower is an independent Nordic focused sovereign AI digital infrastructure provider
VivoPower is an independent Nordic focused sovereign Al digital infrastructure provider Scalable Al digital infrastructure platform focused on multi decade value creation 6 es lags F} lobat offices London Headquarters Executive team with experience across Nordic track record developing powered digit
Slide 6: Operational anchor asset transitioning to AI with Nordic centric pipeline
deliver ng power-secirst Operational anchor asset transitioning to Al with Nordic centric & EU pipeline 81.5MW footprint in Norway, of which 41.5MW is under operation generating cash flows Target EBITDA of ~$130m per annum from conversion to Al data center, including an 4OMW. expansion in Norway Nor
Slide 7: Existing operational and cash-generative data center in Mo i Rana
VivoPower has an existing operational and cash-generative data Mé6ii Rana, Norway 41.5MW Current operating capacity 40MW Potential expansion capacity 100% Renewable hydropower Sr ~$10m >$60m ~$130m Annual EBITDA Target annual EBITDA Target annual EBITDA contribution from contribution post Al contrib
Slide 8: Management and board blend of infrastructure, renewable power, capital markets and AI experience
VivoPower’s management and board have an uncommon blend of infrastructure, renewable power, capital markets & Al experience Executive Leadership and Management Team? Kevin Chin Executive Chairman & CEO © AROWANA Deloitte. i JPMorgan pwe ( - Philip von Wulffen Chair of Investment Committee Blackstone
Slide 9: Strategy and business model is bricks & mortar focused
VivoPower’s strategy and business model is bricks & mortar focused Secure powered land Acquire greenfield or brownfield sites, secure local zoning and permits, and obtain power agreements below wholesale USS5c/kWh developments Refinance the powered shell asset G) @) Build powered shell Assets are re
Slide 10: Powered shell development model without GPU capex and risk
VivoPower’s powered shell development model provides Al infrastructure exposure without GPU capex and risk Buy and secure powered land Acquire site, secure grid connection, zoning and permits Mlustrative image 9 & Attractive locations Grid connection Zoning & permits secured Access to renewable powe
Slide 11: Nordic region selected for strong fundamentals and competitive position
VivoPower deliberately selected the Nordic region given its strong fundamentals and competitive position Growing supply shortage in data center capacity 6B & The Nordics have optimal conditions for data centers Global data center supply shortage, GW 2.9x High green energy share Low energy prices? <U
Slide 12: Total controlled/secured portfolio and qualified pipeline of ~3.3GW
VivoPower has a total controlled/secured portfolio and qualified pipeline of ~3.3GW (net) of which ~1.1GW (net) has PCA Total overview of controlled/secured sites and qua io? Oy ps VivoPower has executed a HoA to acquire 28% ownership in FCDC Corp Oy 1,207MW ‘¢si0mw ot “i 3,299MW 182MW Site expansio
Slide 13: Unit economics underpinned by disciplined targets
VivoPower’s unit economics are underpinned by disciplined targets... Holistic differentiated Operating in Nordic markets with Capital recycling model Recurring digital infrastructure sovereign partnership 1-2 years grid connection lead generates $1.5-$2 per $1 of revenues through powered shell appro
Slide 14: Growth model based on recycling capital every ~18 months
..Whilst its growth model is based on sustainably recycling capital every ~18 months Illustrative excess cash release from refinancing for a 100MW facility ($m) Stage Development Refinancing Debt “84% 65% 2,000 2,000 2,000 Gross asset value? eos Original debt (repaid) 1,300 _ 4185 __ 30s Faulty rele
Slide 15: 10-year strategic growth vision and plan
VivoPower has a 10-year strategic growth vision and plan @ Advance: a to Autonomous Global Infrastructure Network Accelerate: . Ci * Secure 100 % control of 20GW of power sites oS Control of strategic power sites spanning EU, GCC, ASEAN, Caribbean and Africa + Secure 100% control of 10GW of power si
Slide 16: Economic model
ECONOMIC MODEL PORTFOLIO VALUE CREATION Developing, owning and/or controlling powered land to powered shell level, leasing out to tenants without taking on GPU technology risk Pee it (OS | NEES EES aE EE | | Fe ee Uncommon blend of data center, infrastructure and real estate development, together wi
Slide 17: Public markets re-rating companies that transition to AI digital infrastructure
Public markets are re-rating companies that successfully transition to Al digital infrastructure Share price development since Al data center strategy repositioning! Company The market rewards companies with credible Al infrastructure exposure + 1n 2024-2025, IREN made a decisive pivot from Bitcoin
Slide 18: Portfolio and Pipeline
Portfolio and Pipeline
Slide 19: 41.5MW Nordic asset augmented by completed deals, FCDC and pipeline
VivoPower’s 41.5MW Nordic asset is augmented by 182MW completed deals, 1.2GW FCDC (net) & 1.9GW pipeline poral ite in My, Operational portfolio one ~ P 41.5MW ae pipeline # of sites Current grid capacity FCDC Corp wage . Oy'ssites? Completed acquisitions portfolio 2 ~182MW #ofssites Grid capacity FC
Slide 20: Mo i Rana asset slated to be AI ready in 2027
VivoPower’s operational asset in Mo i Rana (Norway) is slated + to be Al ready in 2027. Al ready data center in Norway Total capacity of 81.5MW, of which current operating capacity of 41.5MW, and potential expansion capacity of 4(OMW Operational and EBITDA generating data center with existing contra
Slide 21: Target construction timetable
..based on the target construction timetable Q2 Q3 Q4 Qi Q2 Q3 Q4 Qi Q2 Phase 1 Design Demo 41.5MW Al DC 40MW AI DC 41.5MW Frozen construction construction +21.5MW Al DC Phase | Complete Phase Il Complete (in parallel) (41.5MW live Q2'27) (40MW live Q1'28) Phase 2 +40MW 1) Concept study; 2) Construc
Slide 22: Conversion to AI data centers provides path to stabilized cashflows
Conversion to Al data centers provides a path to stabilized long term cashflows and profits Current operational site... 41.5MW Current operating capacity ~$10m Annual EBITDA from BTC hosting + First operational site in Norway, ~21,000 m? leased with total area of 51,000 m? + EBITDA generating from h
Slide 23: Mo i Rana anchor asset underpins Nordic value creation plan
VivoPower’s anchor asset in Mo i Rana underpins its Nordic value creation plan Secured operational asset in Norway, augmented with Nordic centric pipeline 41.5MW Capacity in the Nordics in operation, with additional 4OMW expansion at the Mo i Rana site 8 sites In the Nordics out of 12 sites that are
Slide 24: Sovereign first approach: 25MW UAE site
VivoPower’s sovereign first approach is evidenced by a 25MW 7 UAE site with scalable land for up to LOOMW Key site highlights + Located in UAE, providing access to one of the Middle East's fastest growing digital infrastructure markets + 25MW initial capacity with potential expansion to up to 100MW
Slide 25: LOIs for full control of 3 FCDC sites in Finland
VivoPower has issued letters of intent (LOI) for full control of 3 FCDC sites in Finland, totaling 560MW Connection capacity Area Building rights Building permit Power connection” Grid + FCDC Corp Oy assets, where VivoPower has 28% control with LOI to acquire remaining 72% Su t/t BIN iin allie = = H
Slide 26: FCDC portfolio has more Finland sites with 3.8GW gross capacity
FCDC’s portfolio has 7 more Finland sites with 3.8GW gross capacity Power Connection Agreement (PCA) Estimated Estimated Country Acquisition status Source of power power in MW power in MW (100% basis) (28% basis) Finland S 28 % controlled” Leasehold In progress Hydro 160 45 04 2026e Finland 6 28% co
Slide 27: Market
Market
Slide 28: Data center expansion falls short of AI demand
Accelerating data center expansion still falls short of meeting strong demand for Al digital infrastructure Global data center capacity (GW) Global data center supply shortfall (GW) 2.9% 7 81 >200 _. +15% CAGR ii a | | Se : | Additional supply shortage (GW) 2025 aes S0n7e awe Bane Tae Shortage 2026e
Slide 29: Europe structurally under-supplied
Europe remains structurally under-supplied, with Al and sovereign cloud use cases expected to materially increase demand Hyperscalers largest demand driver Global cloud storage capacity by region (GW) Europe data center demand by ownership (%) Total ~122.2 GW 23% Enterprise (self-owned) = Other Eura
Slide 30: Europe demand growth but grid and permitting constraints
Europe data center demand is set for significant growth, but grid and permitting constraints pose challenges across FLAPD markets DC power demand to surge from 96TWh in 2024 to 236TWh by 2035e Why Europe’s bottleneck favors the Nordics Data center demand in Europe in TWh % of total demand ~ a FLAPD
Slide 31: Capacity constraints in primary hubs accelerate secondary market growth
Capacity constraints in Europe’s primary hubs are accelerating data center growth in secondary markets FLAPD? and secondary market dynamics Vacancy rates continue to decline Nordic capacity growth is accelerating European market vacancy rates (%) MW installed Secondary Markets Total: 1208MW ITcapaci
Slide 32: Capital migrating to regions with low-cost power
Capital is migrating to regions with low-cost power, positioning the Nordics as a core growth market Survey on site-selection factors and Nordic relative attractiveness Why the Nordics is an attractive location for data centers Nordic score! Low cost of power Political stability P s Great access to
Slide 33: The Nordics is a globally competitive region for data centers
The Nordics is a globally competitive region for data centers The Nordics benefit from low electricity prices High share of green energy Average wholesale electricity prices by region (average 2025, $/MWh) Green energy* in total electricity generation mix (2025) SSS So roduced power in support of CS
Slide 34: Financials
Financials = | gc ae = HW es | 2 Ril
Slide 35: Business model unlocks de-risked equity returns at asset level
VivoPower’s business model unlocks de-risked equity returns at an asset level Illustrative only — investment roadmap and valuations for a LOOMW site Land, Power Origination, Build & Delivery Implied project Implied equity Development & Entitlement (Powered Shell) value value $2,000m per MW $115m Sio
Slide 36: Mo i Rana target revenue post-AI conversion
Mo i Rana generates ~$31m annual target revenue, increasing to a target ~$70m annual revenue post-Al conversion of 41.5MW Illustrative revenue bridge for operational Mo i Rana asset ($m) BTC revenue [Mf Alrental revenue [MM Annualised revenue “31 Current annual operating Target revenue uplift from T
Slide 37: EBITDA expected to scale post AI conversion
wt VivoPower’s EBITDA is expected to scale from ~$10m target p.a. to >$60m target p.a. post Al conversion in Moi Rana Illustrative EBITDA bridge for operational Mo i Rana asset ($m) “10 ~130 >60 — an “3 -_ — ~10 Current estimated Targeted revenue uplift Change in opexfrom Al — Annualtarget EBITDA wi
Slide 38: General
General
Slide 39: Global advisory council
Global advisory council Khadija Mustafa Ex-Microsoft and G42 (New York) Adam Traidman Former CEO at SBI Ripple Asia (Los Angeles) Porter Harris Former SpaceX Lead Battery Engineer (Pasadena) Hugh Durrant-Whyte Chief Scientist of NSW GOV, ex-Chief Scientist UK MoD (Sydney) Rachel Pether Head of 3iQ f
Slide 40: Corporate structure overview
Corporate structure overview AEVITAS Divested, to be deregistered VIVOPOWER \VivoPower PLC TEMBO To be spun off (vivo) VivoPowe International imited \VIWRAU Pty Lid. ‘Aevitas Group Limited (formeriy VivoPower Pty Ltd) Aevitas Holdings Pty ud Kenshaw Solar Pty ud \VivoPower USA LLC Heo VivoPower (USA
Slide 41: Repositioning as pure-play sovereign AI infrastructure via Tembo carve-out and Aevitas divestment
VivoPower is repositioning as a pure-play sovereign Al infrastructure platform through the Tembo carve-out and Aevitas divestment j + To be the independent trusted digital infrastructure + Tembo is progressing toward a planned Nasdaq listing, + Operationally inactive (dormant) — to remain within par
Slide 42: Capitalization table
Capitalization table Capitalization Table Cet ly + Ordinary A-shares on issue: 30,724,084 in total distributed across family offices, ‘Common Shares On Issue directors and officers, and a free float of ~52% rates family office amily Offices es =. 22 az + uly ited share count reaches 51,704,449 when
Slide 43: Total portfolio and pipeline (MW)
Total portfolio and pipeline (MW) Moi Rana Moi Rana expansion Norway 1 Finland Finland2 Fintand3 Finland 4 ‘Sweden 1 ‘Sweden 2 Croatia 1 Austria 1 UAE Switzerland 1 Finland 5” Finland 6” Finland 7” Finland 8” Finland 9” Finland 10° Finland 11? Total 2 'W vivorower Acquisition status Operational Comp
Slide 44: P&L
P&L In $ thousand Revenue from contracts with customers Cost of sales Gross profit General and administrative expenses Other gains/(losses) Depreciation of property and equipment Amortisation of intangible assets ‘Operating profit/(loss) Restructuring and other non-recurring costs Impairment losses
Slide 45: Balance sheet
4 W/ vivopower Balance sheet In$ thousand As at 31 December As at 30 June Cash & cash equivalents 4,012 Accounts receivable 69,158 Other short-term receivable 2,039 Assets classified as held for sale - Total current assets 75,209 PPRE-net 427 Intangible assets 15,817 Deferred tax assets 5,521 Total
Slide 46: Cash flow
Cash flow In $ thousand Six months period ended 31 December 2025 tas 34 (unaudited) 2024 1as 34 (unaudited) 2025 IFRS (audited) Year ended 30 June 2024 TERS Net earnings Change in working capital and non-cash items Cashflow from operations Purchase of PP&E Purchase of intangibles Cashflow from inves
Slide 47: Risk factors (1/13)
47 VJ vivopower Risk factors (1/13) Risks related to the Group's business and the industry in which it operates The Group has limited operating history as a standalone data center platform focused on Al infrastructure The Group is in the process of transitioning from a diversified sustainable energy
Slide 48: Risk factors (2/13)
48 W/ vivopower Risk factors (2/13) The conversion of the Mo i Rana Facility from hosting of bitcoin mining to Al infrastructure involves significant execution risk ‘The Group's near-term value creation strategy is dependent on the successful conversion of the Mo i Rana Facility from hosting of bitc
Slide 49: Risk factors (3/13)
Risk factors (3/13) The Group depends on third-party delivery partners to build powered shells ‘The Group's business model involves outsourcing the construction of powered shell data centers to specialist EPC firms and delivery partners, including CTS Group and Jones Engineering. The Group's ability
Slide 50: Risk factors (4/13)
50 W vivopower Risk factors (4/13) ‘Sanctions and anti-money laundering risks associated with the Group's hosting of bitcoin mining operations ‘The Group currently hosts a bitcoin mining facility at Mo i Rana, Norway, which is expected to continue generating revenue from bitcoin mining during the tr
Slide 51: Risk factors (5/13)
Risk factors (5/13) A significant portion of the Group's pipeline is based on letters of intent rather than binding agreements, and the Group has not conducted full due diligence on all LOt-stage sites Approximately 1.9 GW of the Group's stated net pipeline of approximately 3.3 GW consists of sites
Slide 52: Risk factors (6/13)
Risk factors (6/13) The Group may not be able to identify, secure and maintain access to suitable sites with adequate grid capacity on commercially acceptable terms ‘The Group's project development activities depend on its ability to identify and secure suitable sites for data center development tha
Slide 53: Risk factors (7/13)
53 W vivopower Risk factors (7/13) Project costs may increase materially, and projects may not remain commercially viable ‘The commercial viability of the Group's projects depends on a number of assumptions, including land costs (currently targeting approximately USD 500,000 per MW}, build costs (ta
Slide 54: Risk factors (8/13)
Risk factors (8/13) The Group's operations are dependent on reliable and affordable power supply ‘The Group's data center operations and development activities are fundamentally dependent on access to reliable, affordable and scalable power supply. The Group's business model targets power costs belo
Slide 55: Risk factors (9/13)
55 W vivopower Risk factors (9/13) The Group's operating and development activities may be subject to uncertainty relating to building, zoning and use permits ‘The use of existing buildings and premises for data center operations, and the development of new data center sites, may depend on zoning, b
Slide 56: Risk factors (10/13)
Risk factors (10/13) The Group's Karjoa data center project in Finland is subject to binding construction obligations with significant contractual penalties and outstanding permits, and construction has not yet commenced Kiinteisto Oy Raaseporin Datatie 1 ("Kiinteisto Oy"), the Group's Finnish proje
Slide 57: Risk factors (11/13)
Risk factors (11/13) Risks relating to the Group's financial situation The Group has limited financial history in its new strategic direction and its revenues may be unstable and difficult to predict ‘The Group has limited financial history in its new strategic direction, and its revenues may be uns
Slide 58: Risk factors (12/13)
Risk factors (12/13) The Group has existing indebtedness, including an outstanding shareholder loan from AWN; AWN is simultaneously a shareholder and the Group's largest external creditor, creating a potential conflict of interest ‘The Group has existing indebtedness, including an outstanding loan f
Slide 59: Risk factors (13/13)
Risk factors (13/13) The Group has deferred cash payment obligations in connection with the Cromwell AS acquisition In connection with the acquisition of Cromwell AS, which completed on 21 April 2026, the Group is obligated to make deferred cash payments to the sellers totalling USD 10.25 million, c
Slide 60: W vivopower Bs
W vivopower Bs