Nordic Energy Summit Company Introduction. Copyright: Scatec Solar ASA

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1 Nordic Energy Summit 2015 Company Introduction

2 An Independent Solar Power Producer Develops, builds, owns and operates utility scale solar power plants Key facts Established: 2001 Headquarter: Oslo Established: 2001 Headquarter: Oslo Main shareholders: Scatec* 62.5 %, Itochu 37.5 % Employees: 88 Main shareholders: Scatec 29.2% Itochu 18.9% Market cap: NOK 3.2 billion Power plants (ownership) Employees: 104 Installed capacity: 219 MW Under construction: 207 MW Project pipeline: 660 MW Key financial highlights Secured revenue backlog of more than NOK 15bn Target to own gross 750 MW by end of

3 The Scatec Solar business process and value chain Scatec Solar PV equipment manufacturing & Construction & Maintenance Power Production Project development Financing Construction s IPP Chemical processing & assembly Rapid technology development Cost reductions Site development System design Business case Permitting Grid connection PPA negotiation / tender / FiT secured Detailed design & engineering Component tendering Debt / Equity structuring Due Diligence Project management Supplier and construction monitoring Quality assurance Funding and cash flow management Maximize performance and availability Maintenance and repair Power Production Asset management Financial and operational optimization Parts of the construction phase is outsourced to EPC sub-contractors 3

4 Project portfolio 215 MW of projects in backlog & under construction SSO % H1 14 H2 14 H1 15 H Projects in operation: Czech projects 20 MW 100% Kalkbult, RSA 75 MW 39% Construction Linde, RSA 40 MW 39% Construction Dreunberg,RSA 75 MW 39% Construction ASYV, Rwanda 9 MW 43%* Constr. Total 219 MW Backlog /under construction: Oryx, Jordan 10 MW 70% EJRE/GLAE Jordan 33 MW 40%** Utah, USA 104 MW 100% Honduras 60 MW 40% Developm. Hawaii, USA 8 MW 49% FC Total 215 MW Project pipeline: Americas 250 MW Africa 358 MW MENA Total 50 MW 658 MW Financial close Start of operation (*) Option to increase to 57% (**) Option to increase to 50.1% 4

5 Leveraging multi-functional teams Commercial/legal Power Purchase agreements Contract/SPV structuring Tax optimisation Power market insights Government relations Solar impact on the power markets Grid dynamics al Plant optimisation Maintenance Technical Engineering and design Component technology Construction management Component sourcing Cost and progress management Financial Debt and equity structuring Working capital management driving results predictable working together changemakers Our values Page 5

6 Key strategic partnerships Norfund partnership: Project development and investment partnerships in various regions (70% Scatec Solar / 30% Norfund) Norfund co-investing in South Africa, Rwanda and Honduras IFC partnership: and financing partner in selected countries in West Africa Key benefits: Access to lower cost of capital Expanded network for project origination Risk mitigation representing the Norwegian government and the World Bank 6

7 Financials and cash flow Consolidated revenues and EBITDA SSO proportionate share of cash flow to equity* Total revenues and other income EBITDA 196,5 & Contruction Corporate s & Maintenance 160 Power production 130,2 133,0 92,7 78, ,4 57,0 29,1 52, ,6 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 All power plants fully consolidated consolidated income statement reflecting Power Production Annual cash flow to SSO of NOK million from the 220 MW installed capacity (Power Prod. and O&M) (*) Scatec Solar proportionate share of cash flow to equity is defined as the Company s proportionate share of EBITDA less normalised (i.e. average quarterly) loan and interest repayments, less normalised income tax payments. The definition implies changes in net working capital and investing activities are excluding from the figure. 7

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