Enefit Green

Business and Financial Review • Sep 12, 2022

Company Type Category Disclosure time Enefit Green AS Company Release Other corporate action 12 Sep 2022 10:00:00 +0300

Currency

Enefit Green production data - August 2022 Title

Enefit Green produced 64.1 GWh of electricity in August, which is a third less than in the same period last year. The production result was mainly affected by the lower production volumes of Estonian and Lithuanian wind farms and, to a lesser extent, by the unplanned stoppage at the Iru power plant. Solar energy production increased by 61.5% in August 2022 compared to a year ago.

The average monthly wind speeds in Estonian and Lithuanian wind farms were 5.3 m/s and 5.1 m/s, respectively (in August 2021, the average wind speeds measured were 6.4 m/s and 5.8 m/s, respectively). "We utilized the modest wind conditions to carry out several scheduled maintenance works with the aim of ensuring better availability in subsequent more windy quarters," commented Innar Kaasik, Member of the Management Board and COO of Enefit Green.

The reason for the 24% decrease in electricity production in the cogeneration segment was a 10-day unplanned stoppage and maintenance at the Iru Power Plant. As a result, the electricity production of the Iru Power Plant decreased by 33% year-on-year or 4.2 GWh in August. For the same reason, the total production of thermal energy decreased by 25.8% year-on-year to 37.8 GWh in August.

According to Kaasik, the stoppage was caused by leaks in one of the steam superheaters of the waste-to-energy unit. "In the course of repair works we determined the need to completely replace the malfunctioning superheater in order to avoid unplanned maintenance during the upcoming heating period. Due to this, last week we stopped Iru Power Plant to replace the damaged superheater. During the repair period, neither electricity nor heat will be produced by the waste-to-energy unit. Planned duration of the repair works is five weeks," Kaasik explained.

Pellet production decreased by 5.3% to 14.0 thousand tons in August 2022 compared to a year ago.

August 2022 August 2021 Change, %

Finantsinspektsioon http://www.fi.ee

Electricity production by countries, GWh
Estonia	39.0	61.2	-36.3%
Lithuania	18.6	29.0	-36.0%
Latvia	4.1	3.8	6.8%
Poland	2.5	1.9	30.7%
Total	64.1	95.9	-33.2%
Electricity production by segment, GWh
Wind	47.2	76.5	-38.4%
Cogeneration	12.7	16.8	-24.2%
Solar	4.2	2.6	61.5%
Other	0.1	0.1	0.7%
Total	64.1	95.9	-33.2%
Heat energy, GWh	37.8	51.0	-25.8%
Pellets, th t	14.0	14.8	-5.3%
Further information: Sven Kunsing
Head of Finance Communications
investor@enefitgreen.ee (https://www.globenewswire.com/Tracker?data=eahglFI0K4UUxwsmqXkQdO3N_ld1uojlGTE_
vteiKcyQu1wfu3r9tXxEfe64TI9iPjXXdLcA-1wKJKK402r4cwPqdjBXLG-Ga36PZFEEUJ4=)
https://enefitgreen.ee/en/investorile/
(https://www.globenewswire.com/Tracker?data=2hvtWZj2Sah7P5FHBmegLeIoMx1_pu7PK9v_ TsWBkf9HVGRVBco0gBWNAR8sTIf_RfHfPw1v74a_H6m3SjVkIBzGyIVVbjGOe57EOq9-
agKg8ttz2h5EHYmF0la-hs-rAYHvQm2Fvlu3QknP8tcDCA==)

Enefit Green is one of the leading diversified renewable energy producers in the Baltic Sea area. The Company wind farms in Estonia and Lithuania, cogeneration

Finantsinspektsioon http://www.fi.ee

plants in Estonia and Latvia, solar farms in Estonia and Poland, a pellet plant in Latvia and a hydroelectric plant in Estonia. In addition, the Company is developing several wind and solar farms in the mentioned countries and Finland. As of the end of 2021, the Group had a total installed electricity production capacity of 457 MW and a total installed heat production capacity of 81 MW. During 2021, the Company produced 1,193 GWh of electricity and 618 GWh of heat.

Finantsinspektsioon http://www.fi.ee