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7C Solarparken AG

Investor Presentation Nov 10, 2009

6_ip_2009-11-10_c7109910-6dc1-4e0a-a00d-d531ec23ab7e.pdf

Investor Presentation

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Company Presentation

COLEXON Energy AG

Frankfurt, November 2009 | © COLEXON Energy AG

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COLEXON at a GlanceINTRODUCTION

Who we are

  • European key player in solar solutions
  • 3 business segments
  • 105 employees
  • €143m revenues in 2008

COLEXON Company Profile

  • Leading key player in solar solutions
  • IPP with the mid-term goal of grid parity
  • Business model: wholesale, projects and plant operation
  • Focused on state-of-the-art technologies
  • Strong focus on Europe and USA

Management Board

The members of our management board have a proven track record in photovoltaic industry, national and international. As a team, they drive the company's successful development. Thorsten Preugschas

CEO since Nov. 2006

Henrik Christiansen CFO since Oct. 2008

COLEXON is one of the leading key players in solar solutions.

COLEXON at a GlanceKEY FIGURES

Quick facts

• Reorganization in 2007

  • Record year in 2008
  • Positive business development
  • Market capitalization trippled in 2009
  • Enhanced share liquidity and visibility

COLEON Group Key figures Business Development


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COLEXON share

Shares: 17,744,557 Market cap: 65 m€ Avg Volume 3M: 15,000 shares Segment: Prime Standard Trading centers: Xetra, Frankfurt

An attractive investment opportunity with a positive outlook.

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The PV MarketWORLD MARKET DEVELOPMENT

High market potential of solar industry

Source: EPIA 2009, Global Market Outlook for Photovoltaics until 2013

  • 2006 to 2008: Dynamic growth and high excess demand
  • 2009: Market slowdown and module oversupply lead to increased competition
  • 2010 onwards: Positive outlook due to enormous global market potential

COLEXON is positioned in the most important growth markets.

The PV MarketWORLD MARKET DEVELOPMENT

Module prices decline significantly

  • Further but less aggressive price reductions expected for end of 2009 and 2010
  • Downstream players such as COLEXON profit from the current price development

COLEXON strongly benefits from the current market development.

The PV MarketSOLAR VALUE CHAIN (DOWNSTREAM)

COLEXON covers the most profitable segments in the solar industry

  • Integration along PV value chain keeps entire margin inhouse
  • Stable and secured cash flows from IPP business strengthen overall business

COLEXON's strong position within the value chain promotes operating margins.

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Balanced strategy approach for stable and dynamic growth

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COLEXON follows a flexible business approach for efficient market penetration.

Business Model and Strategy WHOLESALE

COLEXON – competent partner for resellers and installers

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Wholesale segment strengthens COLEXON's business.

Business Model and Strategy PROJECTS

Turnkey solar power plants – the solution from a single source

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COLEXON is one of the leading experts in developing return optimized PV plants.

Business Model and Strategy PROJECTS

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COLEXON has the experience of more than 1,700 realized solar projects worldwide.

Business Model and Strategy PROJECTS

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COLEXON has realized projects in Germany, Spain, France, USA and South-Korea.

Business Model and Strategy PROJECT PIPELINE

COLEXON's project pipeline is focused on Europe

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  • Negotations about additional projects under way

Projects with a total capacity of approx. 50 MWp are currently in the pipeline.

Business Model and Strategy PLANT OPERATION

COLEXON – an independent energy supplier of solar power

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Plant operation business adds stability and competitiveness to business development.

Business Model and Strategy PLANT OPERATION

COLEXON's portfolio as an independent supplier of solar power (IPP)

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Strategic Outlook LONG-TERM STRATEGIC OUTLOOK

2009: Laying the foundation for our future success

COLEXON combines sustainable development with dynamic growth.

Strategic Outlook COLEXON IN 2010

2010: Starting phase of the "new" COLEXON

Our strategy:

  • Strengthen international business (especially in France and Czech Republic)
  • Promote sustainable growth
  • Strengthen IPP business

2010 targets:

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Business segments in MW (2010)

COLEXON is active in the whole downstream segment.

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FinancialsKEY FINANCIALS AS OF JUNE 30, 2009

Excellent previous H1/2008 almost repeated

  • 2007: Turnaround and reorganization of company
  • 2008: Record year in company's development
  • 2009: Strong results despite of solar market slowdown and takeover

In spite of economic downturn acknowledgeable results in key financial numbers.

FinancialsPROFIT & LOSS 2007-2009 (M€)

Sales development effected by acquisition of Renewagy

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FinancialsSALES & EBIT HY1 2009 PER SEGMENT (M€)

Strong wholesale segment in H1/2009 due to market slow down in project business

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FinancialsWORKING CAPITAL DEVELOPMENT 2008-2009 (M€)

Stable working capital development

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The working capital peak of first quarter maintained over entire period.

$\overline{2}$
The PV Market
3
Business Model and Strategy
$\overline{4}$
Strategic Outlook
5
Financials
6
Outlook Q3 2009 (Reverse Takeover)
$\overline{7}$
Q & A Session
1 COLEXON at a Glance

Outlook Q3 2009 (Reverse Takeover) FINANCIAL IMPACT OF REVERSE ACQUISITION

• Takeover affects consolidated financial figures of COLEXON Group

• Combined financials shown in Q3 2009 for the first time

• Q3 figures will be announced on Nov. 30, 2009

Transaction will be performed as a reverse acquisition. Acquirer is Renewagy A/S, aquiree is COLEXON Energy AG

Acquisition and first time consolidation date: August 14, 2009. There will be a PPA applied to COLEXON figures at that date

The P&L for the Renewagy will be shown for the total of 12 months for the financial year 2009.

The P&L for the COLEXON will be shown from the date of first consolidation onward, i.e. 4.5 months for 2009.

The consolidated group figures will be published with the Q3- 2009 report, issued on November 30, 2009.

Consolidated group financial figures difficult to compare with previous publications.

Outlook Q3 2009 (Reverse Takeover) PROFIT & LOSS Q1-Q3 2009

A first glance at the new COLEXON: Revenue and EBIT

  • The results from COLEXON up to August 13 are not included in Revenue and EBIT
  • Revenue and EBIT for the "new" COLEXON group include Renewagy's results for the total period and COLEXON's results from August 14, 2009 onwards

The reverse acquisition technique distorts actual revenues.

Outlook Q3 2009 (Reverse Takeover) BALANCE SHEET

A first glance at the new COLEXON: Assets, equity, liabilities

  • Significant increase in assets and equity due to the acquisition of solar power plants
  • Increased liabilities according to external financing of solar power plants

The appearance of the "new" COLEXON changed remarkably due to acquisition.

1 COLEXON at a Glance
$\overline{2}$ The PV Market
3 Business Model and Strategy
4 Strategic Outlook
5 Financials
6 Outlook Q3 2009 (Reverse Takeover)
7 Q & A Session

Please feel free to ask questions.

In case of questions after the presentation, please contact our IR-team:

Investor Relations

Jan HuttererHead of Investor RelationsFON: +49 40. 28 00 31-111FAX: +49 40. 28 00 [email protected]

Frankfurt, November 2009

COLEXON Energy AG Grosse Elbstrasse 45 • 22767 Hamburg • Germany FON: +49 40. 28 00 31-0FAX: +49 40. 28 00 [email protected] www.colexon.com

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