<a id="bm-comp-7017d9b2-a8d0-4191-87b0-c23d7ad7e2d9" name="bm-comp-7017d9b2-a8d0-4191-87b0-c23d7ad7e2d9" class="BMCustomAnchor"></a><table><tr><td bm-component-id="7017d9b2-a8d0-4191-87b0-c23d7ad7e2d9" style="vertical-align: top; width:100.000000%;"><ul><li>Eolus signs agreement to sell 100 MW battery storage project</li><li>Estimated EV for the project in the USD 230-235m range</li><li>'25 estimates de-risked by sales agreement</li></ul></td></tr></table><a id="bm-comp-2f7b25a2-bb2c-426e-a46a-0a50825cfe71" name="bm-comp-2f7b25a2-bb2c-426e-a46a-0a50825cfe71" class="BMCustomAnchor"></a><table><tr><td bm-component-id="2f7b25a2-bb2c-426e-a46a-0a50825cfe71" style="vertical-align: top; width:100.000000%;"><h3 class="bm-h3">Agreement signed for sales of Pome battery storage project</h3><p>Eolus Vind has signed an agreement to sell its 100 MW stand-alone battery storage project, Pome, located in California, U.S. Eolus is currently constructing the BESS project in Poway Business Park in the San Diego area, with commercial operation expected in H1'25. The closing of the transaction is subject to fulfilment of certain conditions and is anticipated to occur in Q1'25, in line with our estimates.</p><h3 class="bm-h3">Project EV in USD 230-235m range</h3><p>The total EV for the project is estimated to be in the range of USD 230-235 million and we estimate that a significant portion of the EV is related to the construction costs of the project. For this project, Eolus has experienced a preference from interested investors to complete the construction of the project. As such, Eolus has agreed to complete the construction and therefore assume the construction risks associated with the project, which we expect to have a positive impact on the project margin. Based on Eolus' previously completed stand-alone battery storage project, Cald (120MW, project margin of USD ~15m), we estimate Eolus' project margin for Pome to be somewhat higher, in the range of USD 20-25m, due to the assumed construction risks.</p></td></tr></table><a id="bm-comp-8969c4bf-b83c-4e69-b9b6-69bdcf2dd9d5" name="bm-comp-8969c4bf-b83c-4e69-b9b6-69bdcf2dd9d5" class="BMCustomAnchor"></a><table><tr><td bm-component-id="8969c4bf-b83c-4e69-b9b6-69bdcf2dd9d5" style="vertical-align: top; width:100.000000%;"></td></tr></table>