MPC Energy Solutions N.V.

Report Publication Announcement • Apr 2, 2024

MPC Energy Solutions publishes Annual Report and Sustainability Report for 2023, expects significant financial improvements in 2024 after transitional 2023

MPC Energy Solutions publishes Annual Report and Sustainability Report for 2023, expects significant financial improvements in 2024 after transitional 2023

Amsterdam/Oslo - 2 April 2024 - MPC Energy Solutions ("MPCES", "Company")

published its Annual Report 2023 today.

"2023 was a transitional year for our company. We connected four new projects to

the power grids in El Salvador, Puerto Rico and Colombia, significantly growing

our installed capacity.", said Stefan H.A. Meichsner, Chief Financial Officer of

MPCES. "In addition, we decided to exit several projects that no longer met our

strategic focus and return requirements. And we started several new greenfield

developments in core countries across Central America, establishing a foundation

for future growth."

MPCES today owns and operates five power-producing assets across Latin America

and the Caribbean with an aggregate capacity of around 79 MWp (proportionate

share MPCES: 66 MWp). Earlier this year, the Company commenced construction of a

65 MWp solar PV plant in Guatemala, which is expected to commence operations in

mid-2025. This project alone is expected to generate revenues of more than USD 8

million per year at EBITDA margins above 80 percent, once operational.

Now that a portfolio of five power plants is operational for a full year for the

first time in MPCES's history, Meichsner projects a significant increase in the

Company's year-on-year financial performance. "We expect revenues in 2024 to

increase to USD 12 million and project EBITDA to grow to USD 8.5 million, almost

doubling the 2023 EBITDA. In addition, cost reduction measures taken at the end

of last year will have a positive impact on our overall profitability."

For 2023, the MPCES Group reported the following key financials (consolidated):

in million USD, negative values in "()" 2023 2022

Revenue 9.1 3.6

Project EBITDA / EBITA 4.4 / 1.8 2.1 / 1.1

adjusted for one-time energy trading losses 5.4 / 2.8  2.2 / 1.2

Group EBITDA / EBITA (0.7) / (3.3) (2.2) / (3.2)

Total assets 123.1 129.0

Equity 69.4 75.3

Equity ratio 56% 58%

Free cash position 14.8 16.0

Along with its Annual Report, MPC Energy Solutions also published its

Sustainability Report 2023, demonstrating the Company's progress towards

becoming a regional ESG leader in Central America and the Caribbean. Both

reports are also available on the Company's website: Reports & Presentations

(mpc-energysolutions.com) (https://www.mpc-energysolutions.com/investors/reports

-presentations)

On 30 April 2024, MPCES will report on its financial results for the first

quarter 2024.

- ENDS -

About MPC Energy Solutions

MPC Energy Solutions ("MPCES") is a global provider of sustainable energy and

primarily focuses on low-carbon energy infrastructure, including solar and wind

farms, and other hybrid and energy efficiency solutions. The Company

participates in the full project lifecycle of renewable solutions, from early

-stage development through construction and operation. More details at www.mpc

-energysolutions.com

Media contacts

MPC Energy Solutions N.V.

Investor Relations & Public Relations

Email: ir@mpc-energysolutions.com

Norway

Mats Samdahl Weltz

Salto Advisers

Phone: +47 950 46330

Email: msw@saltoadvisers.no