Enefit Green

Earnings Release • Mar 10, 2023

Company	Enefit Green AS
Type	Company Release
Category	Other corporate action
Disclosure time	10 Mar 2023 09:00:00 +0200

Currency

Enefit Green production data – February 2023 Title

Enefit Green produced 119.9 GWh of electricity in February, which is 12.4% less than in the same period last year. The production result was mainly influenced by the lower production in Estonian and Lithuanian wind farms.

The average wind speeds in February were 6.9 m/s and 7.0 m/s, respectively in Estonian and Lithuanian wind farms (in February 2022, the measured average wind speeds were 7.5 m/s and 8.5 m/s, respectively).

"In February, weather conditions were stable and there were no longer periods with gusty wind. As a result, the production results of wind farms were good, but they were lower than last year, when the weather was even more favourable for the wind production. However, one can be satisfied with the production, and there were no extraordinary stoppages affecting the result," commented Innar Kaasik, Member of the Management Board and Head of Production at Enefit Green. The electricity and heat energy production of the cogeneration segment was relatively stable, decreasing by 2.2% and increasing by 0.2% respectively compared to the same month last year. Pellet production was also stable in February growing by 1.3% compared to a year earlier to 11.7 thousand tons.

February 2023 February 2022 Change, %

Electricity production by countries, GWh

Estonia	69.7	79.9	-12.9%
Lithuania	46.4	52.6	-11.8%
Latvia	3.2	3.4	-7.6%
Poland	0.7	0.8	-21.8%

Finantsinspektsioon http://www.fi.ee

Total	119.9	136.9	-12.4%
Electricity production by segment, GWh
Wind	103.2	119.7	-13.7%
Cogeneration	15.6	15.9	-2.2%
Solar	0.9	1.1	-20.3%
Other	0.2	0.1	94.4%
Total	119.9	136.9	-12.4%
Heat energy, GWh	55.0	54.9	0.2%
Pellets, th t	11.7	11.5	1.3%

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 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 Company had a total installed electricity production capacity of 457 MW and a total installed heat production capacity of 81 MW. During 2022, the Company produced 1,118 GWh of electricity, 565 GWh of heat energy and 154 thousand tonnes of wood pellets.

Finantsinspektsioon http://www.fi.ee