Voltalia SA — Earnings Release 2019

Sep 3, 2019

PRESS RELEASE

September 3, 2019

In the Serra Branca cluster (Brazil), Voltalia completes construction of its 2 GW transmission line and plans to anticipate production of its VSM wind projects

Voltalia (Euronext Paris, ISIN code: FR0011995588), an international player in renewable energies, announces it has reached physical completion of a transmission line of 2 GW for its Serra Branca cluster of wind projects located in North-East Brazil, multiplying by six the cluster's power evacuation capacity. Fast track development and construction of the new line will allow Voltalia's VSM 1&2 wind farms (291 MW in total) to begin operations ahead of Voltalia's initial forecasts.

"With its two transmission lines, Serra Branca has now a 2.4 GW potential. Voltalia is building one of the largest clusters of wind farms worldwide, located in one of the windiest spots on the planet", declares Sébastien Clerc, CEO of Voltalia.

2 GW transmission line reaching completion

Voltalia's new transmission facility in the Serra Branca cluster has reached physical completion. It will be connected to the grid shortly.

The new line is capable of servicing wind farms with a total capacity of 2 GW. The line is one of the Continent's largest construction projects in term of capacity. 52-kilometer long and sustained by 112 towers, the line is designed for a very high voltage of 500 kV.

Voltalia began developing the line in 2016, progressively securing rights of way over 63 pieces of land with 57 different owners, building permits, interconnection rights and other authorizations.

One of the 112 tours of Voltalia's new transmission line

The process has been swift and smooth thanks to Voltalia's capacity to team up with local population, who have benefited from on-site employment and social projects implemented by Voltalia in the region over the past five years.

Construction works started early 2019, with Voltalia partnering with Seta Engenharia S.A for the line and WEG for the substation.

The short development-and-construction period is another illustration of Voltalia's capabilities to implement large, complex and ambitious projects.

VSM 1&2 wind farms (291 MW) expected to generate power earlier than expected

Foundation that will support one of VSM's 83 turbines

VSM 1 is a 163 MW wind project with regulated long-term power sale agreements won in December 2017. VSM 2 is a 128 MW wind project with long-term power sale agreements won in 2018 with public utilities and BRF, one of the world's largest agribusiness companies. The VSM 1&2 projects, currently in construction, consist of 83 ca. 3.5 MW turbines, 186-meters high at the tip of the blade.

With completion of the new transmission line, and thanks to good progress on the wind farms' construction site, Voltalia now expects the first turbine to generate power in November 2019 and the last turbine mid-2020.

In line with its strategy to generate additional value from commercial operation anticipation, Voltalia will sell anticipated production in the free market at a higher price than that of long-term power sale contracts. In 2019, power will be sold in the spot market. Starting 2020, power will be sold through short-term contracts already secured in the free market until the start of the long-term contracts, between 2021 and 2024¹ .

The Serra Branca cluster of wind farms now has a 2.4 GW potential

Located in North-East Brazil in the State of Rio Grande do Norte, the Serra Branca cluster began to be developed by Voltalia in 2008. Voltalia progressively secured land rights, permits, rights to connect to the power grid and power sale contracts for a series of projects. The Serra Branca cluster expands over a zone of approximately 15 by 50 kilometres, located in one of the windiest spots in the world. Excellent irradiation means also that this region has a solar potential.

Within Serra Branca, Voltalia kept some wind projects while selling othersto third parties. Some projects are in operations while others are in construction and more still under development.

¹ VSM 1 in 2021 and 2023, VSM 2 in 2021 and 2024

Wind farm	Capacity	Ownership	Commercial operation
Areia Branca	90 MW	100% Voltalia	2014/2015
Vamcruz	93 MW	51% Voltalia	2015
Vila Para	99 MW	100% Voltalia	2016
Vila Acre	27 MW	100% Voltalia	2017
VSM 1 & 2	291 MW	65% Voltalia*	Expected from Nov. 2019 to Mid-2020
VSM 3	70 MW	100% Voltalia	Expected H2 2022
Various projects	Up to 500 MW	100% sold to EchoEnergia/Actis**	273 MW already sold
Various projects	Approx. 1.2 GW	To be kept or sold	To be determined (at various stages of development)
Total	2.4 GW

* 35% to be sold to STOA (18 June 2019 press release)

** 273 MW sold and in construction, plus 227 MW to be confirmed

The new 2 GW transmission line will give additional competitivity to Serra Branca's future wind and solar projects through economies of scale and capacity to react rapidly to power market opportunities.

In Brazil, Voltalia owns other wind, solar, hydro and hybrid sites under operation and development in various States.

Next on the agenda: H1 2019 results on September 25, 2019 (after market close)

About Voltalia ( www.voltalia.com)

Voltalia is an international player in the renewable energy sector. The Group produces and sells electricity generated from wind, solar, hydraulic, biomass and storage facilities that it owns and operates.

Voltalia is also a service provider and supports its investor clients in renewable energy projects during all phases, from design to operation and maintenance.

Voltalia has generating capacity in operation and under construction of more than 1 GW and a portfolio of projects under development representing total capacity of 6.2 GW, of which 0.6 GW is secured.

The Group has 591 employees and is present in 18 countries on 4 continents and is able to act worldwide on behalf of its clients.

Voltalia is listed on the regulated market of Euronext Paris, compartment B (FR0011995588 – VLTSA) and is part of the Enternext Tech 40 and CAC Mid & Small indices. The Group is also included in the Gaïa-Index, an index for socially responsible midcaps.

Voltalia Investor Relations: invest@voltalia.com +33 (0)1 81 70 37 00

Actifin Press Contact: Jennifer Jullia jjullia@actifin.fr +33 (0)1 56 88 11 11