Orron Energy Ab · OMXSTO:ORRON
Orron Energy Ab — Q3 2025 Earnings Presentation
14 slides from Orron Energy Ab's earnings presentation, Nov 5, 2025
Slide 1: Q3 2025 Presentation
Q3 2025 Presentation Daniel Fitzgerald, CEO Espen Hennie, CFO 5 November 2025
Slide 2: Orrön Energy
Orrön Energy Part of the entrepreneurial of companies 380 MW Organic growth across the full Large-scale greenfield Fully funded Producing assets lifecycle pipeline Delivering long-term Value creation from High return on capital with significant liquidity cash flow development via project sales headr
Slide 3: First Nine Months 2025
Orrön Energy First Nine Months 2025 Power generation 574 GWh First German solar project sale completed in July Compensated volumes (1) 30 GWh 4 MEUR total consideration Revenues (2) 23 MEUR Greenfield pipeline progressing as planned with multiple projects EBITDA (3) -4 MEUR approaching key milestone
Slide 4: Power Generation
Orrön Energy Power Generation (1) 2023 2024 2025 Impacted by 763 GWh 919 GWh 850-900 GWh forecast low winds and price curtailment 293 278 262 227 216 Higher flexibility increases 197 184 revenues and avoids costs 166 165 162 ~80% of production active in 145 price dependent bidding GWh ~20% of produc
Slide 5: Greenfield: First Revenues Secured, More Sales to Come
Orrön Energy Greenfield First Revenues Secured, More Sales to Come UK Finland Multi-GW pipeline of Sweden projects across 5 countries 8 projects submitted under reformed grid connection process Grid offers expected in 2026 Attractive markets with strong electricity pricing, governmental support and
Slide 6: Financial Highlights
Orrön Energy Financial Highlights Third Quarter Results 31 Power Achieved generation 135 GWh price EUR/MWh Revenue(2) 6 MEUR 10 Compensated volumes(1) GWh EBITDA(3) -2 MEUR Financially Resilient End Q3 Net debt 83 MEUR 170 Debt facility MEUR All numbers proportionate (1) Includes ancillary services
Slide 7: 2025 Guidance
Orrön Energy 2025 Guidance Nine Months 2025 2025 Actuals Guidance Operating expenses 14 MEUR 19 MEUR G&A expenses(1) 6 MEUR 9 MEUR Sudan legal costs (2) 5 MEUR 7 MEUR Capital expenditure 9 MEUR 12 MEUR Excluding acquisitions and project sales Guidance is presented based on proportionate (net) owners
Slide 8: 2025 Key Financial Metrics
Orrön Energy 2025 Key Financial Metrics Q3 2024 Q4 Q1 2025 Q2 Q3 Power generation (GWh) 164 287 251 188 135 10.1 Achieved price (EUR/MWh) 8.7 18 30 40 30 31 5.7 6.1 2.0 German project sale MEUR 2.9 1.0 1.2 -1.9 -1.6 -0.6 -3.3 -3.6 -4.0 -4.6 -5.2 Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 2024 2025
Slide 9: Achieved Price
Orrön Energy Capture price discount(3) Achieved Price 2023 24% 2024 27% 2025 YTD 21% Third Quarter 2025 First Nine Months 2025 45 1 2 43 -5 -1 36 36 -9 -10 35 31 EUR/MWh EUR/MWh Average Average Other Hedging Capture Average Average Average Other Hedging Capture Average (2) (2) system regional revenu
Slide 10: Cash Flow and Net Debt
Orrön Energy Cash Flow and Net Debt Third Quarter 2025 Liquidity 100 -75 88 Opening net debt(1) 30 Jun 2025 77 MEUR -3.6 MEUR 70 MEUR -80 50 -0.8 0.4 Others Capital -1.1 expenditure -2.3 1.7 Project Closing 18 sales net debt(1) 30 Sep 2025 83 MEUR -85 0 CFFO Changes Cash flow Others(2) Cash(2) Undra
Slide 11: 2025 Cash Flow Outlook
Orrön Energy 2025 Cash Flow Outlook Achieved price 2025 (EUR/MWh)(1) Breakeven price excluding Sudan costs Jan-Sep Q4 actual forecast 33 EUR/MWh 39 EUR/MWh 35 35 35 35 40 33 35 45 32 Q4 2025 power price hedges (EUR/MWh) MEUR GWh EUR/MWh SE3 38 56 Including Sudan legal costs SE4 46 64 7 5 2026 power
Slide 12: Creating value through the Energy Transition
Creating value through the Energy Transition Long-term cash flow from Financially resilient with operating wind farms and significant liquidity headroom greenfield project sales Organic growth platforms Large-scale project portfolio delivering across 5 countries entering monetisation phase OE00045 I
Slide 13: Disclaimer
Orrön Energy 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, but not always, be
Slide 14: Creating value through the energy transition
www.orron.com Creating value through the energy transition OE00023 p20 08.23 14