Slide 1: Interim Report Q3 July-September 2024
NOVEMBER 29TH, 2024 INTERIM REPORT Q3 JULY-SEPTEMBER 2024
Slide 2: Agenda
AGENDA • Floating Offshore Wind Market • Swedish Offshore Wind Market • Hexicon in Brief • Q3 Highlights • Action Plan • MunmuBaram Project • History and milestones • Next Steps • A Diversified Portfolio • Outlook
Slide 3: Floating Offshore Wind: Ready for Significant Growth
FLOATING OFFSHORE WIND > READY FOR SIGNIFICANT GROWTH New Floating Wind Installations 2023-2033 Large global potential in its infancy 7% • 80% of the world’s offshore wind potential is in waters deeper than 60 m Europe • International Energy Agency states floating wind power could generate over 11 t
Slide 4: Swedish Offshore Wind Market
SWEDISH OFFSHORE WIND MARKET • November 4th - Swedish government rejected 13 offshore wind project applications − Two Freja Offshore projects; Cirrus and Dyning, affected • The first floating offshore wind farm in Sweden’s history was approved • November 19th - Developers invited to discuss offshore
Slide 5: Hexicon in Brief
Total Pipeline Q3 2024 Project Portfolio Q3 2024 Gross MW Gross MW HEXICON IN BRIEF 1 257 132 0 800 1 125 8 200 21.8 GW 8.7 GW 7 000 Holds a diversified and world-class 12 350 4 550 project portfolio. • Market leader and an early mover in fast evolving Prospect Early Mid Late Sweden Italy industry -
Slide 6: Highlights
HIGHLIGHTS EVENTS DURING THE QUARTER • July 1st, Hexicon took over the operation of the MunmuBaram project • In August the MunmuBaram project received regulatory approval for its Environmental Impact Assessment (EIA) AFTER THE QUARTER • October 10th, the MunmuBaram project signs a Transmission Servi
Slide 7: Action Plan
ACTION PLAN Aimed at improving the financial structure and streamlining costs while optimising project portfolio. • Secure finances – delayed due to long regulatory process for MunmuBaram • Free up resources for prioritised projects • Cost review throughout our business • Cut resources • Cease selec
Slide 8: MunmuBaram
MUNMUBARAM A floating offshore wind project of 750MW. 2018 Originated by Hexicon Korea (Hexicon and Coens & Co Ltd.) 2019 Shell came in as JV partner (80%) 2022 Wind Turbine Generator contract signed with Vestas 2024 Feb Signed Sales & Purchase Agreement to take over Shell’s stake, subject for regul
Slide 9: MunmuBaram Next Step
MUNMUBARAM NEXT STEP Hexicon has fulfilled the necessary conditions to complete the Sales and Purchase Agreement (SPA) • Two EBLs approved (750 MW) – one is still undetermined (375 MW) • Hexicon is currently assessing the next steps for the project, while setting a new ownership structure
Slide 10: A Diversified Portfolio - Various Stages and Geographies
A DIVERSIFIED PORTFOLIO - VARIOS STAGES AND GEOGRAPHIES Know-how from MunmuBaram ready to be leveraged throughout portfolio SOUTH KOREA ITALY SWEDEN SOUTH AFRICA UNITED KINGDOM MUNMUBARAM FOUR ACTIVE PROJECTS MARELD GAGASI TWO ACTIVE PROJECTS JV PARTNER: AVAPA JV PARTNER: MRP JV PARTNER: GENESIS ECO
Slide 11: Outlook
OUTLOOK Priority • Secure and improve the company’s financial structure • Establish a new ownership structure for MunmuBaram • Accomplish full or partial divestment of selected projects • Focus on core projects
Slide 12: Thank you for listening!
Thank you for listening! HEAD OFFICE Östra järnvägsgatan 27 111 20 Stockholm, Sweden www.hexicongroup.com