Slide 1: Interim Report Q1 2025
MAY 28TH, 2025 INTERIM REPORT Q1 2025
Slide 2: Agenda
AGENDA • Floating Offshore Wind • Market Development Floating Offshore Wind • Global Market • Q1 Significant Events • Status project portfolio • Market update South Korea • Status TwinWindTM technology • Quarterly Deep-dive: Project divestment in Italy • Focus 2025 INTERIM REPORT JAN - MAR 2025 | He
Slide 3: Floating Offshore Wind
FLOATING OFFSHORE WIND A development from onshore wind to offshore: BENEFITS OF FLOATING WIND • Stronger winds = more electricity - Land-based: 100+ countries • Flexible placement - Offshore bottom fixed: 26 countries • Further from the coast • Less impact on animals and nature - Offshore floating:
Slide 4: Market Development Floating Offshore Wind: Market expectations
MARKET DEVELOPMENT FLOATING OFFSHORE WIND The culmination of exaggerated expectations Many projects under Covid development Many commercial Inflation wind farms Market expectations Favorable market conditions: Rising interest rates COMMERCIALISATION Low interest rates Hype around renewable The value
Slide 5: Global Market
FLOATING New Floating Wind OFFSHORE WIND Installations Globally (MW) GLOBAL MARKET 8 300 7 550 6 920 • Global market for offshore wind, both bottom-fixed and floating, has shown signs of recovery • 2024 was the first year that commercial-scale was auctioned – 1,900 MW in 3 800 total • These projects
Slide 6: Q1 Significant Events
Q1 SIGNIFICANT EVENTS EVENTS DURING THE QUARTER JANUARY • Hexicon's Swedish joint venture, Freja Offshore, received a Natura 2000 permit from the County Administrative Board for the floating offshore wind farm Mareld, which is planned off the west coast of Sweden. MARCH • On March 26th, Hexicon sign
Slide 7: Project Portfolio Status
Total portfolio Q1 2025 Active projects Q1 2025 Stages Countries PROJECT 882 Gross MW 800 Gross MW 132 PORTFOLIO 15.3 6 575 750 8.7 2 500 STATUS GW GW 7 850 A diversified and world-class project portfolio 4 550 Prospect Early Late Sweden Italy South Korea • Active in 5 key markets South Africa UK •
Slide 8: Market Update South Korea
MARKET UPDATE SOUTH KOREA • One of the global leading countries in floating offshore wind – MUNMUBARAM backed by a strong political support and subsidy system 750 MW • First auction for floating offshore wind held in 2024 • 100 % ownership • The sudden imposition of martial law in late 2024 and • El
Slide 9: Status TwinWind Technology
STATUS TWINWINDTM TECHNOLOGY • Important milestone reached in Q1 • A first set of load assessments completed • One of the first times a turbine OEM has conducted an evaluation for a floating foundation hosting two third-party turbines • Results showed promising load performance, without any signific
Slide 10: Quarterly Deep-dive: Project Divestment in Italy
QUARTERLY DEEP-DIVE PROJECT DIVESTMENT IN ITALY • 26th of March Hexicon made a divestment of two Italian projects in early phase with a total of 1,225 MW • Buyers were Ingka Investments and Oxan Energy • Purchase price EUR 2.5 million, plus payment at milestones of up to a total of EUR 20 million DI
Slide 11: Focus 2025
FOCUS 2025 PORTFOLIO DEVELOPMENT TECHNOLOGY DEVELOPMENT FINANCING PROJECT DEVELOPMENT Focus on core projects Maintain technology value FINANCING Secure staying power • Develop key projects through • Maintain and manage technical asset • Improve operational efficiency milestones value • Focus on dive
Slide 12: Thank you for listening!
Thank you for listening! HEAD OFFICE Östra järnvägsgatan 27 111 20 Stockholm, Sweden www.hexicongroup.com www.hexicongroup.com