JR Holding SA

Investor Presentation • Feb 25, 2021

FARMY FOTOWOLTAIKI S.A. Development strategy for 2021-2023

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What is photovoltaics?

Photovoltaics is a proven technology for generating electricity from solar radiation using the photovoltaic phenomenon. To generate electricity photovoltaic panels are used - which because of the application can be mounted on the roofs of buildings, as well as on the ground in the form of large-scale photovoltaic farms.

The advantages of photovoltaics

By installing a photovoltaic system, we gain:

• production of your own electricity
• stable business designed for a minimum of 25 years
• maintenance-free operation of the system
• healthy and better environment

Your own photovoltaic farm

A photovoltaic farm is an investment with a greater range than a domestic micro-installation. The energy produced on the farm is transported directly to the power grid and from there it is directed to customers. Each landowner can lease his plot of land for such an investment or invest in the construction of his own photovoltaic farm.

Construction of a photovoltaic farm

In order to build a photovoltaic farm, it is necessary to meet the relevant conditions and obtain licences and permits. FARMY FOTOWOLTAIKI S.A. will process the projects on behalf of the investors both in terms of lease or purchase of land, cooperation with the distribution system operator (DSO) and administrative cooperation.

Construction conditions

Documents obtained

• Environmental Decision
• Conditions of construction
• Conditions for Connection
• Connection contract
• Building permit
• Winning the URE auction
• Electricity generation concession
• Agreement for sale, balancing and distribution of electricity

The photovoltaic installation will be made up of

• • Photovoltaic panels high power monocrystalline panels over 450 Wp
• • Container transformer station a transformer station with a transformer up to 1000 kVA, compliant with OSD conditions. The station is adapted to work with the medium voltage network and is used to integrate the photovoltaic farm with the transmission lines of the operator.
• • Supporting structures free-standing structures piled to the ground, made of steel with appropriate coatings extending the life of the structure. The assembly will be based on two-packed structures, which increase the stability and life of the system.

Main assumptions

• purchase of a special purpose vehicle with the first land and formation of F1 Sp. z o.o.
• signing a cooperation agreement with the industry partner Columbus Energy, the market leader micro photovoltaic installations in Poland

• acquisition of plots for farms with power of min 1MW
• acquiring new partners and design and installation companies
• purchase or lease of land for construction of farms or for own use
• developing technical, commercial and research facilities
• building a database of investors interested in purchasing farms
• investments in storage technology development and in companies providing similar services
• cooperation and educational activities in the field of promoting photovoltaic technology
• participation and partnership in events promoting the market share of renewable energy sources

PAGE 6 Farmy Fotowoltaiki S.A is a daughter company of Berg Holding S.A., which will set up and build photovoltaic farms from 1 to 120 MW as direct projects in its structures - special purpose vehicles. The company will also be close to entrepreneurs who own space such as hall roofs yards or parking lots and will use the electricity for their own needs. The overstate will be resold.

* dnia 23.06.2020 r. na walnym zgromadzeniu spółka Śląskie Kamienice S.A. podjęła decyzję o zmianie nazwy na Berg Holding S.A.

Models of cooperation

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Special purpose vehicle with Columbus Energy

The first option will be to build farms together with industry partners. The company assumes cooperation on the basis of joint special purpose vehicles with an industry partner in a 50/50 ownership and through this company will implement the construction of farms for other entities. FARMY FOTOWOLTAIKI S.A. will fully consolidate all assets and profits from all SPVs.

Details of special purpose vehicle projects

FA R M A F 2 S P. Z O . O .

power: 5 MW lot: 13,4 ha

FA R M A F 3 S P. Z O . O .

power: 5 MW lot: 7,9 ha

FA R M A F 4 S P. Z O . O .

power: 5 MW lot: 10,7 ha

FA R M A F 5 S P. Z O . O .

power: 8 MW lot: 16,5 ha

FA R M A F 6 S P. Z O . O .

power: 8 MW lot: 15,05 ha

FARMA F7 SP. Z O.O. I FARMA F8 SP. Z O.O.

At least four photovoltaic farms.

minimum power of each farm: 10 MW maximum power of each farm: 50 MW

FARMA F9 SP. Z O.O. I FARMA F10 SP. Z O.O.

At least four photovoltaic farms.

Power of each farm: 1 MW

Company with an investor 51/49

FARMY FOTOWOLTAIKI S.A. establishes a special purpose vehicle with a client whose contribution in the form of land or finances will amount to 49%. The rest is invested by FARMY FOTOWOLTAIKI S.A. and starts the construction of the farm together with the investor.

Consolidation of the market

The last version of investment that the company will be involved in is market consolidation. We anticipate entering into equity in other PV companies, as well as acquiring them in their entirety with existing projects or already completed farms.

Photovoltaic company acquired in 100%

Company from the photovoltaic industry with an equity stake of 5%-45%

Constant farm maintenance costs

The cost of maintaining a photovoltaic farm is between 50 000 PLN - 70 000 PLN per year. To ensure the efficiency and performance of the installation should be taken care of:

A constant farm maintenance costs is also the insurance of the farm, because all power plants are insured.

Assets 72MW x 3 000 000 pln* =210 000 000 pln

* average cost of farm construction depending on project details

Future revenue over 15 years

15 years x 19 350 000 pln =290 250 000 pln

Future annual revenue

72MW x 268 750 pln* = 19 350 000 pln

* The value of winning the 2020 RES auction of the Nagoszyn project at 1 MW

19 350 000 zł 9 675 000 9 675 000 Columbus Energy Farmy Fotowoltaiki S.A.

Contact

INVESTOR SERVICE Farmy Fotowoltaiki S.A.

ul. Kopernika 6/2 40-064 Katowice

www.farmyfotowoltaiki.pl biuro@farmyfotowoltaiki.pl tel. 534067014

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