Enefit Green

Earnings Release • Dec 9, 2022

Company Enefit Green AS

Type Company Release

Category Other corporate action

Disclosure time 09 Dec 2022 09:00:00 +0200

Attachments:

• Average wind speeds in Enefit Green wind farms.xlsx (http://oam.fi.ee/en/download?id=6934)

• Tuulekiirused Enefit Greeni tuuleparkides.xlsx (http://oam.fi.ee/en/download?id=6935)

Currency

Title

Enefit Green production data - November 2022

Enefit Green produced 81.7 GWh of electricity in November, which is 33.5% less than in the same period last year. The production result was mainly influenced by the lower production in Estonian and Lithuanian wind farms. Solar energy production in November 2022 was 0.4% lower than a year earlier.

The average wind speeds in November were 5.8 m/s and 5.6 m/s, respectively in Estonian and Lithuanian wind farms (in November 2021, the measured average wind speeds were 7.1 m/s and 7.3 m/s, respectively). We have refined our methodology for calculating the average wind speeds, which means wind speed data may differ somewhat from data published earlier. The previous methodology was based on the unweighted average wind speeds of wind farms, the new methodology takes into account the different number of wind turbines (and thus related capacity difference) in different wind farms. The average wind speeds calculated according to the improved methodology are attached to this notification.

"In November, the period of modest wind conditions of recent months continued, and this affected our wind energy production. However, Enefit Green's production portfolio is diversified, and we saw growth in production of our cogeneration plants," commented Innar Kaasik, Member of the Management Board and Head of Production at Enefit Green.

The electricity production of the cogeneration segment in November increased by 11.4% and the production of thermal energy by 1.0% compared to the previous year.

Pellet production increased by 16.2% in November 2022 compared to a year earlier to 14.6 thousand tonnes.

November 2022 November 2021 Change, %

Finantsinspektsioon http://www.fi.ee

Electricity production by countries, GWh
Estonia	52.3	73.6	-29.0%
Lithuania	25.2	45.1	-44.3%
Latvia	3.9	3.8	3.6%
Poland	0.4	0.4	-4.0%
Total	81.7	122.9	-33.5%
Electricity production by segment, GWh
Wind	64.1	106.9	-40.1%
Cogeneration	17.1	15.4	11.4%
Solar	0.5	0.5	-0.4%
Other	0.1	0.1	-61.1%
Total	81.7	122.9	-33.5%
Heat energy, GWh	56.1	55.6	1.0%
Pellets, th t	14.6	12.5	16.2%
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