Eolus Vind AB Year End Report January 1, 2023 – December 31, 2023

Hässleholm, Sweden, February 18^th, 2023

1 October 2023 – 31 December 2023

• Net sales 1,009 (1,069) MSEK.
• EBIT -4 (70) MSEK. Profit before tax -9 (24) MSEK.
• Net profit -7 (16) MSEK.
• Earnings per share, before and after dilution equals -0.20 (0.63) SEK.
• During the period energy facilities with a total installed capacity of 0 (0) MW were taken into operations and handed over to customer.
• At the end of the period Eolus had 914 (903) MW under asset management.

Full year 2023

• Net sales 2,614 (2,469) MSEK.
• EBIT -25 (280) MSEK. Profit before tax -40 (183) MSEK.
• Net profit -24 (198) MSEK.
• Earnings per share, before and after dilution equals -0.74 (7.96) SEK.
• During the period energy facilities with a total installed capacity of 47 (324) MW were taken into operations and handed over to customer.
• At the end of the period Eolus had 914 (903) MW under asset management.
• For the financial year 2023 the Board of directors proposes a dividend of 1.50 (2.00) SEK per share, which corresponds to an unchanged level considering that the previous year comprised 16 months.

Significant events during the period

• Due to permitting issues an agreement regarding construction of 68 MW was terminated by the customer in October. The PPA for the involved projects was moved to new projects and increased to 117 MW.
• 50% of a project portfolio of 672 MW in early development phase in Southern Sweden was sold to Hydro REIN. Initial payment was received in January 2023. The companies will jointly develop the projects.
• Turbine supply agreement for 42 wind turbines with an installed capacity of 260 MW was signed for project Stor-Skälsjön.
• The 120 MW battery storage project Cald in Los Angeles was sold to Aypa. Eolus will provide development services for the customer.

Significant events after the balance sheet date

• Eolus COO, Marcus Landelin, will leave Eolus in April. Recruitment for his replacement Is ongoing.
• The completion of the Norwegian wind power project Öyfjellet is expected to be further delayed and is expected to be completed during the second quarter of 2023.
• Updated financial goals communicated based on the business plan for 2023-2024.

Dividend, Annual Report and Annual General Meeting

• The Annual Report will be published during week 12 of 2023. The Annual General Meeting will be held on May 19th, 2023. The Board of Directors will propose a dividend of 1.50 (2.00) SEK.

For further information contact:

Per Witalisson, CEO, +46 70-265 16 15
Catharina Persson, CFO, +46 70 932 97 77
Johan Hammarqvist, Head of Communications, +46 720 50 59 11

The information in this press release is disclosed pursuant to the EU Market Abuse Regulation. The information was released for public disclosure through the agency of head of communication Johan Hammarqvist on February 18^th, 2023, at 8.30 AM CET.

About Eolus:
Eolus Vind AB is one of the leading wind power developers in the Nordics. Eolus is active in the whole value chain from development of green field projects to construction and operation of wind farms. Eolus offers attractive and competitive investments in the Nordic and Baltic countries, Poland as well as the United States to both local and international investors. Founded in 1990, Eolus has constructed 666 wind turbines with a capacity of 1 414 MW. Eolus has signed contracts for about 1 320 MW of asset management services of which 914 MW are in operation and the rest under construction.

Eolus Vind AB has 34 500 shareholders. Eolus shares are listed at Nasdaq Stockholm.

For more information about Eolus, please visit www.eolusvind.com

Attachment

• Eolus Extract of Year End report 2023