Eolus Vind (EOLU) ABGSC Investor Days summary

Strategic positioning and business model

• Operates as a pure-play renewable energy developer, focusing on project development from greenfield to sale, maintaining an asset-light and flexible model.

• Active in seven countries, with a portfolio of 26 GW and a strong presence in the Nordics, Baltics, Spain, and the southwestern US.

• Provides asset management services for clients, including technical, commercial, and administrative support, managing 3–4 TWh of annual production.

• Business model emphasizes risk reduction, strong partnerships, and repeat deals with major landowners, turbine suppliers, and financial investors.

• Diversified technology mix includes onshore and offshore wind, solar PV, and battery storage, with flexibility to adapt to market needs.

Market trends and industry outlook

• Electrification and sustainability are driving global demand, with electricity use expected to more than double in Europe and North America by 2050.

• Renewable energy costs are declining, making onshore wind and solar PV the most competitive new sources in many markets.

• Sweden and Finland are key markets, with significant opportunities in Poland and the US due to energy system transitions.

• Achieving Sweden’s 2045 electricity targets will require a mix of technologies, not just wind or nuclear.

• Market-based conditions enable projects to be built without subsidies, supporting robust growth.

Recent projects and financial performance

• Sold rights to the $1.2 billion Centennial Flats solar PV and battery project in Arizona, with milestone payments and a $51 million Q4 profit impact.

• Three wind projects under construction in southern Sweden, with sales expected to conclude in Q1.

• Standalone 100 MW battery storage project in San Diego, fully financed and expected to be sold and operational in Q1.

• Q4 is projected to deliver strong results, offsetting earlier quarterly losses in 2024.

• Maintains a 50% equity-to-assets ratio, consistent dividend policy, and plans to announce new financial targets for 2025–2027.