Vivopower Plc · NASDAQ:VIVO
Vivopower — Investor Presentation (June 2026)
59 slides from Vivopower's investor presentation, Jun 29, 2026
Slide 1: Company Presentation June 2026
|; W vivopower 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 "Group"). The Presentation is intended for information purposes only and does not itself constitute, and should n
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 exp
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 * Executive team with experience across digital infrastructure, real estate, renewable power and capital markets 5x MOIC Target r
Slide 6: VivoPower: A Nordic focused sovereign AI digital infrastructure platform
wi VivoPower: A Nordic focused ciel \ ul deli ivering power. secure 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,
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 Mé 1 Rana, Norway ue Va Significant value uplift from Al conversion at Mo i Rana Target EBITDA ) a | Current operations Post Al of41.5MW _ Post Al of 81.5MW ~$806m ~$411lm T
Slide 8: Management and board blend of infrastructure, renewable power, capital markets & AI experience
VivoPower’s management and board have an uncommon blend of infrastructure, renewable power, capital markets & Al experience Executive Leadership and Management Team? la Kevin Chin Executive Chairman & CEO a DO AROWANA Deloitte. JPMorgan pwe Philip von Wulffen & Chair of Investment Committee Blacksto
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) @) Build powered shell Assets are refinanced with
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 Acquire site, secure grid connection, zoning and permits lustrative image i) 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 4B (B & 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 In operation Country ‘Acquisition status Completed Source of power® H Total overview of controlled/secured sites and qual 25MW and 75M expansion — Site expansion in Moi Rana rp Oy,
Slide 13: Unit economics are 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? Original debt (repaid) 1,300 _ 4185 __ Equity released ! (
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: a * Secure 100 % control of 20GW of power sites a4 Control of strategic power sites spanning EU, GCC, ASEAN, Caribbean and Africa + Secure 100% control of 10GW of power sites
Slide 16: Developing and leasing powered land to powered shell without GPU risk
Developing, owning and/or controlling powered land to powered shell level, leasing out to tenants without taking on GPU technology risk ae! | 7 I> er aa | | 21 eee Uncommon blend of data center, infrastructure and real estate development, together with global capital markets and Al experience ==) ae
Slide 17: Public markets are re-rating companies that transition to AI digital infrastructure
Public markets are re-rating companies that successfully transition to Al digital infrastructure Company om i?) TERAWULF “@NSCALE 'W vworower The market rewards companies with credible Al infrastructure exposure In 2024-2025, IREN made a decisive pivot from Bitcoin hosting to Al Cloud Services and A
Slide 18: Portfolio and Pipeline
Portfolio and Pipeline
Slide 19: 41.5MW Nordic asset augmented by 182MW completed deals, 1.2GW FCDC & 1.9GW pipeline
VivoPower’s 41.5MW Nordic asset is augmented by 182MW completed deals, 1.2GW FCDC (net) & 1.9GW pipeline poral site ny, Operational portfolio _— acquisition ~41.5MW ous ° pipeline # of sites Current grid capacity FCDC Corp rrr + Oyssites* Completed acquisitions portfolio aa 2 ~182MW #of sites Grid c
Slide 20: Operational asset in Mo i Rana slated to be AI ready in 2027
VivoPower’s operational asset in Mo i Rana (Norway) is slated a 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 cont
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 I 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 long term cashflows
Conversion to Al data centers provides a path to stabilized long term cashflows and profits Current operational site... 41.5MW Current operating ~$10m B 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
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 evidenced by 25MW UAE site
VivoPower’s sovereign first approach is evidenced by a 25MW C¢ 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 FCDC sites in Finland, totaling 5460MW FCDC Corp Oy assets, where VivoPower has Connection capacity 160MW Connection capacity Area 36 ha Area Building rights 143,020 m Building rights Building permit iv) Building permit Power connect
Slide 26: FCDC's portfolio has more Finland sites with 3.8GW gross capacity
FCDC’s portfolio has 7 more Finland sites with 3.8GW gross capacity Country Finland Finland 6 Finland 7 Finland 8 Finland 9 Finland 10 Finland 11 Total Combined with its 28% interest in the 3 sites per previous page (157MW), VivoPower’s interest is a total of 1.21GW (net basis) Acquisition status 28
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) 2.9% 1 81 >200 _ +15% CAGR ii a | | 25 | || Additional supply shortage (GW) 2025 ars Ee AS oe Wars Shortage 2026e 2027
Slide 29: Europe remains 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 (9%) Total ~122.2 GW 23% Enterprise (self-owned) > Other >)
Slide 30: Europe data center demand set for 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 250 om FLA
Slide 31: Capacity constraints in primary hubs accelerating 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 is 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 e Political stability Ps s Great access
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) 99.9% 98.7% 97.4% 96.4% 94.8% Data ce
Slide 34: Financials
Financials
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 _i Land, Power Origination, _ Build & Delivery Implied project Implied equity Development & Entitlement (Powered Shell) value value $2,000m Soom Ss per
Slide 36: Mo i Rana target revenue increasing 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 [MM Alrental revenue [J Annualised revenue ~140 est Current annual operating Target revenue uplift fro
Slide 37: EBITDA expected to scale from ~$10m to >$60m post AI conversion
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) w ~10 ~130 >60 ts 3 -——— —— ~10 Current estimated Targeted revenue uplift Change in opex from Al Annual target EBITDA wit
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) 39 'W vivopower Adam Traidman Former CEO a
Slide 40: Corporate structure overview
Corporate structure overview AEVITAS Divested, to be deregistered TEMBO To be spun off VIVOPOWER VivoPower PLC (vivo) Aevitas O Holdings ta Ply Utd, . \. Tenbo rou 8 Trance cov. | lemmas aearaoesa | emcee Solutions B.V.) sco \VIWRAU Pty Lid. (formerly VivoPower Pty Lid) VivoPower ‘Aevitas Group Limi
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 ‘Owners in% Capitalization Table Type shares Ceo + 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 Kev chin on foe et) Al orecor/offcers
Slide 43: Total portfolio and pipeline (MW)
Total portfolio and pipeline (MW) Moi Rana Mo Rana expansion Norway 1 Finland 1 Fintand2 Finland3 Finland 4 Sweden 1 ‘Sweden 2 Croatia 1 Austria 1 UAE Switzerland 1 Finland” Finland 6 Finland 7” Finland 8” Finland” Finland 10” Finland 11? Total 2 W vivopower Acquisition status Operational Completed
Slide 44: P&L
P&L In $ thousand month period ended 31 December 2025 IFRS Year ended 30 June 2024 IFRS. 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
Slide 45: Balance sheet
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 non-current as
Slide 46: Cash flow
46 W vivopower Cash flow In $ thousand Six months 2025 IAs 34 period ended 31 December 2024 IAs 34 Year ended 30 June Net earnings Change in working capital and non-cash items Cashflow from operations Purchase of PP&E Purchase of intangibles Cashflow from investing Cash from investors and issuance o
Slide 47: Risk factors (1/12)
47 VW vivopower Risk factors (1/12) 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 energ
Slide 48: Risk factors (2/12)
48 W vivopower Risk factors (2/12) 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 bitco
Slide 49: Risk factors (3/12)
4 W vivorower Risk factors (3/12) 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 G
Slide 50: Risk factors (4/12)
50 W vivopower Risk factors (4/12) 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 tra
Slide 51: Risk factors (5/12)
51 W vivopower Risk factors (5/12) 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 con
Slide 52: Risk factors (6/12)
52 W vivopower Risk factors (6/12) 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
Slide 53: Risk factors (7/12)
53 W vivopower Risk factors (7/12) Project costs may increase materially, and projects may not remain commercially viable ‘The commercial viability of the Group's projects depends on 2 number of assumptions, including land costs (currently targeting approximately USD 500,000 per MW}, build costs (ta
Slide 54: Risk factors (8/12)
54 W vivopower Risk factors (8/12) 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 p
Slide 55: Risk factors (9/12)
55 W vivopower Risk factors (9/12) 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 (10/12)
56 W vivopower Risk factors (10/12) The MIP Vika site carries known ground contamination for which Nordland Data bears remediation responsibility if development works disturb the affected zones Under the New Lease Agreement for MIP Vika, Nordland Data has accepted the site "as is" with knowledge of
Slide 57: Risk factors (11/12)
57 W vivopower Risk factors (11/12) The Group is exposed to interest rate risk and currency exchange rate risk ‘The Group's project financing arrangements are expected to involve variable rate debt, exposing the Group to changes in interest rates. An increase in interest rates would increase the Gro
Slide 58: Risk factors (12/12)
58 W vivopower Risk factors (12/12) The Group may be exposed to tax risks and changes in tax regulation ‘The Group is subject to prevailing tax laws and regulations in the jurisdictions in which it operates, including with respect to corporate income tax, property tax, value added tax, transfer pric
Slide 59: VivoPower
V/A VIVOPOWER