MPC Energy Solutions N.V.

Report Publication Announcement • Aug 16, 2022

MPC Energy Solutions reports on Q2 2022 results

MPC Energy Solutions reports on Q2 2022 results

Amsterdam/Oslo - 16 August 2022 - MPC Energy Solutions N.V. ("MPCES" or

"Company"), Amsterdam, will publish its Q2 2022 report tomorrow morning. The

Company develops, builds, owns and operates renewable energy projects including

solar PV, wind, hybrid and energy efficiency solutions in Latin America and

Caribbean.

"We are happy to conclude another quarter of progress. The key milestone in the

second quarter was the start of early works for the combined solar plant and

battery energy storage system in St. Kitts. Once operational, this landmark

project will be a key energy source for the nation, significantly reducing their

dependence on imported fossil fuels," said Martin Vogt, CEO of MPC Energy

Solutions.

MPC Energy Solutions also outlined the challenging environment caused by

continued supply chain disruptions and sustained high equipment prices. The

Company has been informed about localized delays from grid operators following

material shortages and longer delivery times, risking a timely connection of

plants to power grids. Delays of up to three months, depending on the respective

local situation, are anticipated, even though construction of the project assets

themselves progresses as planned.

"During the first half-year we entered a new phase of the company following our

acquisition of the operational Los Santos I, a solar PV plant in Mexico. In the

second quarter, this plant continued to perform well, and for the first half as

a whole the project generated USD 1.5 million in revenues with an EBITDA margin

of 74%, which is in line with our expectations," said Martin Vogt.

MPC Energy Solutions recorded an operating loss (EBIT) in the first half-year

2022 of USD 1.6 million (1H 2021: also negative, USD 1.7 million), and a net

loss of USD 1.8 million (unchanged from 1H 2021), reflecting that the company is

still in a build-up phase.

Given the anticipated delays and a postponement of the commercial operation date

for the Company's combined-heat-and-power plant Neol CHP in Puerto Rico, MPC

Energy Solutions reduced its full-year outlook to USD 3.5 million revenues (down

from USD 4.5 to 5.0 million compared to the previous outlook) ad USD 2.2 million

project-level EBITDA (previous: USD 3.1 to 3.5 million).

"Due to the fact that we are experiencing continued delays in obtaining grid

operator approvals for the new plant in Puerto Rico, we find it prudent to lower

our guidance. At the same time, we have officially communicated to the

responsible project partners that we expect to be held fully harmless from any

financial damages the project might incur following the delay," said Martin

Vogt.

The financial results as well as an update on the Company's projects will be

given during a conference call and simultaneous webcast for the investment

community tomorrow at 9:00 a.m. CET (see details below).

Q2 webcast and conference call information:

The Company will host a webcast on Wednesday, 17 August 2022 at 9:00 am CET.

There will be a Q&A session after the presentation, and a recording and written

transcript of the webcast will be published on the Company's website afterwards.

The live webcast can be accessed through the following link: https://edge.media

-server.com/mmc/p/8erp7cz2

Alternatively, participants may dial in to the webcast using the below dial-in

information:

.          Norway LocalCall Dial-In:       +47 2396 0264

.          USA LocalCall Dial-In:             +1 631 5107 495

.          UK LocalCall Dial-In:               +44 8445 718892

.          International/Toll Dial-In:      +44 2071 928000

Conference ID: 2686257

For further information, please contact ir@mpc-energysolutions.com.

- 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

assets, 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 (http://javascript:linkTo_UnCryptMailto(%27ocknvq%2CkphqBore

%5C%2Fgpgtiauqnwvkqpu0eqo%27);)

Norway

Jo Christian Lund-Steigedal

Corporate Communications AS

Phone: +47 415 08733

Email: jcs@corpcom.no

Americas

Perry Goldman

Montieth & Company

Phone: +1 (646) 8643568

Email: pgoldman@montiethco.com

United Kingdom

Andrew Berridge

Montieth & Company

Phone: +44 7925 697 215

Email: aberridge@montiethco.com