1

German Equity Forum

Frankfurt, November 25 to 27, 2019

Energiekontor AG

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agenda

1. About the Company

2. Market trends

3. Strategy

4. Business performance in 2019

5. Outlook and goals

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Energiekontor AG - Business segments

Operational

development,

innovation and

others

Power in Group-

owned wind and

solar parks

Entire value chain from

acquisition to

commissioning and sale

including repowering

Project planning

and sale

(wind, solar)

Income from the sale

of the electricity generated

in the Group's own wind

and solar parks

En

erg

iek

on

tor

AG

Services after

commissioning to optimise

value chain through

operational management

increase in efficiency

innovation

4 4

Office locations Energiekontor AG

Glasgow, Edingburgh, Scotland

Leeds/England

Lisbon/Portugal

Toulouse/South-France

Rouen/North-France

Austin/Texas

Hagen im Bremischen (Lower Saxony)

Aachen (North Rhine-Westphalia)

Bremen (Headquarters)

Bernau near Berlin (Brandenburg, East)

Bremerhaven (Operational Management)

Potsdam (Brandenburg, West)

• Founded: 1990

• Employees (Nov. 2019): ~200

• IPO: May 2000 (Frankfurt)

Rapid City/

South Dakota

5 5

Development of the Group's own wind and

solar park portfolio

in MW

18 18 18 18

70 82

94 100 111 106

163

214 221

265

238

259

278 287

0

50

100

150

200

250

300

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Current balance of payments of the

company

34 wind farms

1 solar park

Group owned

> 2 billion kWh

per year

Current for

approx. 600,000

households

More than

1 gigawatt

output

realized

~287 MW

122 wind farms

7 solar parks

realized

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Agenda

1. About the Company

2. Market trends

3. Strategy

4. Business performance in 2019

5. Outlook and goals

8 8

9,17

8,49

8,00

7,41 7,25

6,90 6,58

5,66

4,91

4,33 4,67 4,59

4,69

5,27

4,80

6,59

5,66 5,47

4,90

3,00

4,00

5,00

6,00

7,00

8,00

9,00

10,00

01.01.2015 01.01.2016 01.01.2017 01.01.2018 01.01.2019

Development of the average bidding price (solar)

Tender on solar projects in Germany –

average granted bidding price for 2015 - today

15.04.15:

1st award

ca. 9 MWp

Finished:

09/2016 15.04.16:

2nd award

ca. 10 MWp

Finished:

02/2018

Finished:

01/2019

01.02.17:

3rd award

ca. 6.3 MWp

01.06.18:

4th award

ca. 5 MWp

01.02.19:

5th award

ca. 4.8 MWp

01.03.19:

6th award

ca. 6.3 MW

Joint tender Solar/Wind

Aw

ard

ed

pri

ce

s in

€-c

t / k

Wh

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Tenders for Onshore Wind -

Surcharge values 2017 to date

Su

rch

arg

e p

ric

es

in

€-c

t / k

Wh

Maximum

Middle

minimum

5,71

4,28 3,82

4,73 4,67

5,73

6,16 6,26

5,27

6,11 6,13

6,20

6,20 6,20

4,20

3,50

2,20

3,80 3,96

4,65

4,00

5,00 4,65

5,24 5,40

6,19 6,19 6,19 5,78

4,29

3,82

5,28

5,76

6,28 6,30 6,30

5,79

6,20 6,20 6,20

6,20

6,20

2,00

2,50

3,00

3,50

4,00

4,50

5,00

5,50

6,00

6,50

7,00

Mai. 17 Sep. 17 Jan. 18 Mai. 18 Sep. 18 Jan. 19 Mai. 19 Sep. 19

Development of the average bidding price (wind onshore)

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Market challenges

Decreased feed-in tariffs

Continued pressure on costs and

margins

Limited extension

Approval backlogs

Acceptance problems

Too few approved areas

for the construction of wind turbines

Complaints from affected persons,

associations, federations

Nationwide distance regulations

Protracted species protection procedures

11 11

Lignite 22.5%

Hard coal 12.8%

Nuclear energy 11.7%

Natural gas 12.8%

Mineral oil prodcts

0.8% Wind onshore

14.3%

Wind offshore 3.0%

Hydro 2.6%

Bio mass; incl. waste 8.1%

Photovoltaic 7.1%

Other sources 4.2%

Source: AG Energiebilanzen e. V.

Gross electricity generation in Germany 2018

Renewable

Energies

35,0%

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Total output of onshore wind power and solar

plants installed in Germany

2000 2001 2009 2011

in GW

24 22

21

18 17

15

10

2002 2003 2004 2005 2006 2007 2008 2010 2012 2013

Sources: Fraunhofer (IWES) , BMU, German WindGuard

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11

6 4

0,3

3 2 1 0,4 0,2

Wind (onshore)

Solar

2014

27 25

34

42

25

33

29 31

36

38

2015 2016

43

51

46

41

0,1

6,1

12

38

40

2017

46

53

2018

48

53

2019(e)

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Agenda

1. About the Company

2. Market trends

3. Strategy

4. Business performance in 2018

5. Outlook and goals

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Our mission statement

Team spirit and collegiality We encourage team spirit and

collegiality as they are the key

to our success.

100 % Renewable energy As a pioneer of renewable energy, Energiekontor is actively

shaping the transition to 100 % renewables. Concentration

on our core competences and innovation will drive

our business to a successful future.

Individual responsibility

and autonomy We support a high level of individual

responsibility and create room for autonomy

at all levels as they are the precondition for

creativity, flexibility and achieving our goals.

Financial stability and

sustainable growth The financial stability of our Company is the

basis for sustainable growth and plays a key role

in our long-term strategy.

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Model for the organic growth of

Energiekontor AG

50 % Own portfolio

Group

EBT

100 %

Cost

coverage

50 % Sale

Project

development

and sales

(Wind, Solar) Operational

management,

innovation and others

Power generation in

the Group's own

Wind and solar parks

Investment in growth

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The value of regional anchoring

Local offices and employees

Decentralized organizational and

decision-making structures

Close proximity to the relevant

stakeholders

Direct relationship network

to property owners

and authorities

Improvement of the

awareness levels in the region

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Central strategic directions of Energiekontor AG

Vision 100 % renewable energy / pioneering role

Implementation of projects without state support

Realizing projects with levelized costs of electricity

below the ones of conventional power plants

Financial stability

Further expansion of Group-owned assets by

transferring 50 % of the new projects into

the Company’s own portfolio

Intensifying the regional approach

Additional priority regions

Strict adherence to the regional principle

Development of new markets

USA, France

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Agenda

1. About the Company

2. Market trends

3. Strategy

4. Business performance in 2019

5. Outlook and goals

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Business performance to date 2019

One wind farm in England (8.2 MW) added to own portfolio

A solar park (6.3 MW) sold

A wind farm in NRW (13.5 MW) sold

One wind farm in NRW (repowering project, 9 MW) and 2 solar parks

(8.5 MW) successful in tenders 2019

Approvals for 6 wind projects with together more than

150 MW in Scotland

Conclusion of PPAs with EnBW and innogy on two solar parks

(total approx. 90 MW)

Team Lower Saxony

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1. About the Company

2. Market trends

3. Strategy

4. Business performance in 2019

5. Outlook and goals

Agenda

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Medium-term economic objective

Sustainable Group EBT of € 55-60 million p. a.

Sustainable EBT from project development and sales

of approx. € 30 million p.a.

Sustainable EBT from own power generation and operations management

of € 25-30 million p. a.

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Expansion of solar business

at home and abroad

Realisation of the Scottish pipeline

Development of the new markets for wind and

solar energy (USA & France)

Great repowering potential starting 2020

Optimization of power generation through

innovations and efficiency improvements

Sources of future growth

Solar Team

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Expansion of pioneering role: Non-subsidised

wind farms in Scotland and Germany

PPA market in Germany:

Conclusion of the first long-term PPAs with EnBW and Innogy for solar

parks with a total output of more than 90 MW

Advanced negotiations with potential industrial partners for further projects

Perspective: Realisation of wind farms outside the EEG remuneration

Continuous implementation of projects in Scotland:

6 building permits for large

onshore wind projects

Economic efficiency alone

based on PPAs

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Project pipeline of the Energiekontor Group

Secured projects

(land lease contracts,

exclusivity, options)

Scoping, pre-planning

and inquiry

Permitted (commissioning

2020) / in permission process /

pre-permitting

Credit valuation resp.

commissioning in 2019

Total Pipeline

Commissioning 2021 / in

permission process

approx. 4,100 MW

+ approx. 2,500 MW

+ approx. 1,100 MW

+ approx. 150 MW

+ approx. 46 MW

+ approx. 300 MW

Regional distribution:

Germany: 2,000 MW

Great Britain: 1,500 MW

USA: 500 MW

France: 100 MW

Wind:3,400 MW

Solar: 700 MW

(Status: 31.10.2019)

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Disclaimer

The information in this presentation does not constitute an offer to sell or a solicitation of an offer to buy or subscribe for

shares in Energiekontor AG, but is intended solely for information purposes.

German legal framework

The information contained in this presentation is intended exclusively for persons whose place of residence or business is

in Germany. Only these interested parties are permitted access to the above information. The posting of this information on

the Internet does not constitute an offer to persons having their place of residence or business in other countries, in

particular in the United States of America, Great Britain and Northern Ireland, Canada and Japan. The shares of

Energiekontor AG are offered to the public for purchase and subscription exclusively in the Federal Republic of Germany.

The information contained in this presentation may be distributed in other jurisdictions only in accordance with applicable

laws and persons who come into possession of this information must inform themselves of and comply with applicable laws

and regulations.

All information without guarantee.

Forward-looking statements

Insofar as forecasts, estimates, opinions or expectations are expressed or statements about the future are made in the

information contained in this presentation, these statements may involve known and unknown risks and uncertainties.

Actual results and developments may therefore differ materially from the expectations and assumptions expressed.

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Thank you very much for your attention!

Peter Alex

Head of Investor Relations

ir@energiekontor.de

+49 421 3304-126

Energiekontor AG

Mary-Somerville-Straße 5

D-28359 Bremen, Germany

www.energiekontor.de