Slide 1: Interim Report Q3 2025
19 NOVEMBER 2025 INTERIM REPORT Q3 2025
Slide 2: Agenda
AGENDA • Market Update • South Korea • Project Development • Technology Development • Historic and Future Events • Focus 2025 • Portfolio Developments • Q3 Significant Events INTERIM REPORT JUL – SEP 2025 | HEXICON AB (PUBL) 2
Slide 3: Market Update: Offshore Wind
MARKET UPDATE OFFSHORE WIND New Global Floating Wind Installations (MW)1 • Increasing global political momentum 9000 8300 8000 7550 (outside of US) alongside continued 6920 7000 structural challenges such as high 5724 6000 capital costs and slow permitting1 4700 5000 • UK strengthened its CfD scheme
Slide 4: Project Development
PROJECT DEVELOPMENT Hexicon’s business model is to divest and generate income during the development stage BUSINESS MODEL 1. IDENTEIFY AND 2. PROJECT INVEST 3. DIVESTMENT DEVELOPMENT PROJECT PHASES Active projects Prospect Early Mid Late Outlook (4) stage (4) stage (-) stage (3) INTERIM REPORT JUL –
Slide 5: From IPO to Today – and Ahead
FROM IPO TO TODAY – AND AHEAD Having handled a weak market period, opportunities lie ahead 4 2024 – A unique possibility MunmuBaram 2 2022 – Macro climate downturn Shell’s new CEO shifts strategy back to Oil & Gas. - A substantial and geographically diverse Hexicon manages to buy back 100% of MunmuB
Slide 6: Global Portfolio Ready to Deliver Value
GLOBAL PORTFOLIO READY TO DELIVER VALUE Diversified portfolio in terms of project size, stage of development, geography and partners Latest project developments • The decrease from 2024 to 2025 in the project portfolio is a result of the discontinued projects in Sweden and the sale of two projects i
Slide 7: Significant Events
SIGNIFICANT EVENTS SEP After the quarter • Extended our revolving credit facility by 24 months • MunmuBaram Completes Marine Traffic Safety Examination • Secured an additional loan from Nuveen Infrastructure Partners of up to EUR 4.75 million • Signed an MoU with Wallstreet Aktiebolag (Soya Group) t
Slide 8: South Korea
SOUTH KOREA • The new President Lee Jae-myung took office in June 2025, MUNMUBARAM accelerating the energy transition timeline. 750 MW • A new 5-year plan for the expansion of offshore wind is expected within short. • 100 % ownership • Until then, the current Renewable Portfolio Standard scheme is •
Slide 9: Technology Development
TECHNOLOGY DEVELOPMENT Important milestones during 2025 • An integrated load analysis (ILA) was finalized with the wind turbine manufacturer (WTG OEM) MingYang. • Hexicon is now part of a limited group of companies that have carried out an ILA with a WTG OEM. • No red flags identified • Platform con
Slide 10: Focus 2026
FOCUS 2026 PORTFOLIO DEVELOPMENT TECHNOLOGY DEVELOPMENT FINANCING Focus on core projects Maintain technology value Secure staying power • Develop key projects through • Maintain and manage technical asset • Improve operational efficiency milestones value • Focus on divestment • Divest selected proje
Slide 11: Questions & Answers
QUESTIONS & ANSWERS Questions received from shareholders and viewers in advance. INTERIM REPORT JUL – SEP 2025 | HEXICON AB (PUBL) 11