Vivopower Plc · NASDAQ:VIVO
Vivopower — Investor Presentation (June 2026)
52 slides from Vivopower's investor presentation, Jun 12, 2026
Slide 1: Company Presentation June 2026
1@} VW vivorower © Company Presentation June 2026 a
Slide 2: Important information and disclaimer
Important information and disclaimer Introduction: This Presentation has been prepared by VivoPower PLC (the "Company", and together with its consolidated subsidiaries, the "Group"). The Presentation is intended for information purposes only and does not itself constitute, and should not in itself b
Slide 3: Summary of risk factors
Summary of risk factors The risk factors below are a non-exhaustive summary of risk factors related to VivoPower PLC (the "Company") set out in detail 4451. The order does not indicate likelihood or magnitude Risks related to the Group's business and the industry in which it operates ‘+ The Group ha
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 po “gs | Global offices Executive team with experience across Nordic track record developing powered digital infrastructure, re
Slide 6: VivoPower: A Nordic focused digital infrastructure provider delivering power-secured AI grade capacity
| VivoPower: A Nordic focused digit delivering power-secured Al grad oe ‘ | Ser caste * 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 convers
Slide 7: Existing operational data center in Mo i Rana to be converted into an AI facility
VivoPower has an existing operational and cash-generative data center in Moi Rana, Norway, to be converted into an Al facility M61 Rana, Norway Paes : ? ‘ Significant value uplift from Al conversion at Mo i Rana Target EBITDA be soo Current operations Post Al of 41.5MW. Post Al of 81.5MW ~$806m ~$41
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 \4 Philip von Wulffen Chair of Investment Committee hub: BO OCC
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 Refinance the powered shell asset G) Resets ore rchnmncedi with ona tenn low-cect debe
Slide 10: Powered shell development model provides AI infrastructure exposure without GPU capex
VivoPower’s powered shell development model provides Al infrastructure exposure without GPU capex and risk Buy and secure powered land (2) Develop and build powered shell Acquire site, secure grid connection, zoning and permits Develop the site, establish grid connection and deliver infrastructure l
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 4B 6B & The Nordics have optimal conditions for data centers Global data center supply shortage, GW 2.9x High green energy share Low energy prices?
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 qual ied pipeline? rp Oy. iot VivoPower has executed an SPA to acquire 28% ownership in FCDC Corp Oy 1,207MW 3,299MW a BJ In Site exp
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 $1 of revenues through powered shell appro
Slide 14: Growth model based on recycling capital every ~18 months
..Whilst its growth model is based on sustainably recycling capital every ~18 months Illustrative excess cash release from refinancing for a LOOMW facility ($m)? Stage Development Refinancing Debt ~8A% 65% 2,000 2,000 2,000 Gross asset value? Se Original debt (repaid) 1,300 _ 4185 _ Equity released
Slide 15: 10-year strategic growth vision and plan
x Acquire: Platform & scale up Secure 100 % control of 2GW of power sites focusing on Nordics, selected EU sites, relationship- based Gulf Cooperation Council (“GCC”) sites Target annual revenues of approximately $1bn Target $500m of annual operating free cash flow Build out Al native agile scaleup
Slide 16: Economic model
ECONOMIC MODEL PORTFOLIO VALUE CREATION F eo Developing, owning and/or controlling powered land to powered shell level, leasing out to tenants without taking on GPU technology risk ie SS ES Lr | ae 21) Pee ae Uncommon blend of data center, infrastructure and real estate development, together with gl
Slide 17: Public markets re-rating companies transitioning 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 onal site in sone Mo; : A yy Operational portfolio : ve sae ee ; 1 41.5MW _ pipeline # of sites Current grid capacity FCDC Corp aa . Oy'ssites? Completed acquisitions portfolio | 2 | ~182MW Grid
Slide 20: Mo i Rana operational asset slated to be AI ready in 2027
VivoPower’s operational asset in Mo i Rana (Norway) is slated 4+- 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 co
Slide 21: Target construction timetable
..based on the target construction timetable Phase 1 Design Demo! 41.5MW Al DC 40MW Al 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) Construction contribution re agree
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 Annual EBITDA, from BTC hosting + First operational site in Norway, ~21,000 m? leased with total area of 51,000 m? + EBITDA generating from hosting BTC min
Slide 23: Anchor asset in Mo i Rana 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 a 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: Letters of intent for full control of 3 FCDC sites in Finland
VivoPower has issued letters of intent (LOI) for full control of 3 fe FCDC sites in Finland, totaling 5460MW FCDC Corp Oy assets, where VivoPower has 28% control with LO! to acquire remaining 72% \* t/a Connection capacity 160MW Connection capacity soMW Connection capacity 350MW Area 36 ha Area 42ha
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 Zoning status Source of power power in MW power in MW (100% basis) (28% basis) Finland 5 28 % controlled* Leasehold In progress Hydro 160 45 04 2026e Fi
Slide 27: Market
Market
Slide 28: Data center expansion falls short of demand for AI digital infrastructure
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) 2.9x 1 81 >200 —— 415% CAGR 1 | =e | | 23 | | Additional supply shortage (GW) 2025 2026e 2027e as Tee 30808: Shortage
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 >)
Slide 30: Europe data center demand growth, 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 585 em FLA
Slide 31: Capacity constraints in primary hubs accelerate growth in secondary markets
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: 1 208MW IT capa
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 g oe B , Great access to affordable land
Slide 33: 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) produced power in support of CSR comm
Slide 34: Financials
Financials LUN HI may
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 1OOMW site = Land, Power Origination, __ Build & Delivery Implied project Implied equity Development & Entitlement (Powered Shell) value value $2,000m $60m __ per
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) BTCrevenue [Mi Alrental revenue [J Annualised revenue ~140 “31 Current annual operating Target revenue uplift fro
Slide 37: EBITDA expected to scale post AI conversion in Mo i Rana
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 i —_—_$§£ see ~10 Current estimated Targeted revenue uplift Change in opex from Al Annual target EBITDA w
Slide 38: General
General
Slide 39: Global advisory council
Global advisory council a Mustafa Ex-Microsoft and G42 (New York) Porter Harris Former SpaceX Lead Battery Engineer (Pasadena) Rachel Pether Head of 3iQ for EMEA, ex-Mubadala (Abu Dhabi) Philip von Wulffen OGDC Founder, ex-JAB Consumer Fund Founder (Vienna) 33 YW vivopower Z ¢€ Adam Traidman Former
Slide 40: Corporate structure overview
Corporate structure overview AEVITAS Divested, to be deregistered VIVOPOWER VwoPower P TEMBO To be spun off \VIWRAU Pty iid (fort VivoPower Pty Ltd) ‘Aevitas Group Limited Aevitas Holdings Pty ud Electrical Engineering Group Pty Limited Kenshaw Solar Pty ud 100% KESWEL Pty Lid 0 SS VivoPon Wwopowes
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 To be the independent trusted digital infrastructure partner of choice for sovereign nations, hyperscalers and neoclouds Platform enabling repeatable site acquisition, de
Slide 42: Capitalization table
Capitalization table Goemeue ee ‘ie mee (eeeee ee + Ordinary A-shares on issue: 29,667,193 in total distributed across family offices, issue) directors and officers, and a free float of ~54% Common Stiares:On ferue + Fully diluted share count reaches 51,608,936 when accounting for the Reg S 1G lEmis
Slide 43: Total portfolio and pipeline (MW)
Total portfolio and pipeline (MW) Moi Rana Moi Rana expansion Norway 1 Finland 1 Fintand2 Finland3 Finland 4 Sweden 1 ‘Sweden 2 Croatia 1 Austria 1 UAE Switzerland 1 Finland 5° Finland” Finland 7” Finland 8” Finland” Finland 10” Finland 11? Total 2 YW vivopower Acquisition status Operational Complet
Slide 44: Risk factors (1/8)
Risk factors (1/8) VivoPower PLC isa public limited liability company incorporated under the laws of England and Wales (the "Company"). If any of the risks were to materialise, individually or together with other circumstances, they could have a material and adverse effect on the Company and/or its
Slide 45: Risk factors (2/8)
Risk factors (2/8) 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 its 41.5 MW operational facility in Mo i Rana from hosting o
Slide 46: Risk factors (3/8)
Risk factors (3/8) The planned carve out via a reverse merger of Tembo with a special purpose acquisition company is subject to certain outstanding regulatory approvals from the SEC, which could affect the timing of completion and, if not obtained, could adversely affect the Group's business, financ
Slide 47: Risk factors (4/8)
Risk factors (4/8) Risks related to the Group's project development The Group's business depends on the successful development and commercialization of a project portfolio that includes those that are at an early stage, and delays or failures may have a disproportionate effect on the Group “The Grou
Slide 48: Risk factors (5/8)
Risk factors (5/8) The Group's pipeline spans multiple jurisdictions, exposing it to diverse regulatory, political and operational risks ‘The Group's project pipeline spans multiple jurisdictions including Norway, Finland, Sweden, may depend on obtaining and maintaining appropriate licences, permits
Slide 49: Risk factors (6/8)
Risk factors (6/8) The Group is exposed to supply chain concentration risk in respect of critical hardware and equipment ‘The successful conversion and operation of the Group's data center facilities for Al workloads depends on the availability of high-performance computing hardware, including graph
Slide 50: Risk factors (7/8)
Risk factors (7/8) 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 fro
Slide 51: Risk factors (8/8)
Risk factors (8/8) The Group faces audit and financial reporting risks during a period of auditor transition and strategic change ‘The Group is in a period of auditor transition. Following the mutually agreed resignation of PKF Littlejohn as the Company's UK statutory auditor, the Company has appoin
Slide 52: VivoPower
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