Public Power Corporation (PPC) Corporate Presentation summary

2021-2024 track record

• Achieved leading market positions in Greece and Romania across retail, generation, and distribution, with 8.8 million customers and 11.6GW installed capacity, 42% of which is RES.

• Reduced CO₂ emission intensity by ~34% since 2020 and phased out 1.2GW of lignite, targeting full lignite exit by 2026.

• Investments reached €2.6bn in 2023, with cumulative 2021-2024 investments exceeding initial plans, mainly in RES and distribution.

• EBITDA doubled from €0.8bn in 2021 to €1.7bn LTM Sep. 2024, driven by integrated business and distribution growth.

• Expanded regional footprint and improved customer mix, focusing on high-value segments and reducing churn.

Strategic priorities 2025-2027

• Focus on energy transition with a greener generation mix, targeting ~12GW RES capacity by 2027 and coal-free operations by 2026.

• Continue expanding in SEE, leveraging integrated model for growth in renewables, flexible generation, and distribution.

• Enhance customer-centric retail with value-added services, aiming for 40% VAS penetration by 2027.

• Maintain strong regulatory frameworks in Greece and Romania, supporting cash flow security and investment optimization.

• Commit to net zero by 2040, with SBTi-verified targets for Scope 1, 2, and 3 emissions reductions.

2025-2027 financial targets

• Target EBITDA growth to over €2.7bn by 2027 (14% CAGR), mainly driven by RES and distribution expansion.

• Net income expected to exceed €0.8bn by 2027, with EPS and DPS CAGRs of 35% and 41% respectively.

• Capex plan of €10.1bn for 2025-2027, with 51% allocated to RES and 27% to distribution; 94% of investments growth-focused.

• Dividend per share commitment of €1 by 2027, supported by strong earnings and cash flow generation.

• Maintain net leverage below 3.5x, targeting investment grade metrics by 2027-2030, with ample liquidity and diversified funding sources.