Eolus Vind AB interim report July 1, 2021 – September 30, 2021

Hässleholm, Sweden, November 18, 2021

3 Months July 2021 – September 2021

• Net sales 690.9 (383.7) MSEK.

• EBIT 0.3 (57.0) MSEK. Profit before tax -4.9 (42.7) MSEK. Net profit 1.5 (38.5) MSEK.

• Earnings per share, before and after dilution equals 0.19 (1.54) SEK.

• During the period 0 (38) wind turbines with a total installed capacity of 0 (160) MW were taken into operations and handed over to customer.

• At the end of the period Eolus had 921 (903) MW under asset management.

9 Months January 2021 – September 2021

• Net sales 1 605.5 (933.6) MSEK.

• EBIT -21.0 (-1.0) MSEK. Profit before tax -30.3 (-22.5) MSEK. Net profit -16.8 (-2.5) MSEK.

• Earnings per share, before and after dilution equals -0.55 (-0.10) SEK.

• During the four months period 13 (38) wind turbines were taken into operations with a total installed capacity of 47 (160) MW.

• During the four months period the equivalent of 13 (40) wind turbines with an installed capacity of 47 (162) MW was handed over to customers.

• At the end of the period Eolus had 921 (903) MW under asset management.

• Eolus financial year has changed from September 1^st – August 31^st to January 1^st – December 31^st. During the financial year that ended December 31^st 2020 the presented periods where based on a prolonged financial year starting September 1^st 2019. During 2021 the comparative figures will be presented for quarters corresponding to the period in year 2020. It means that comparative periods during 2021 will correspond to interim periods that have not been presented before.

Significant events after the balance sheet date

• In October the investor Commerz Real terminated the share purchase agreement for an agreement regarding three wind farms in Sweden with an installed capacity of 68 MW due to conditions for the transaction not being fulfilled. No revenue from the agreement have been recognized by Eolus and a new sales process has been initiated.

Financial summary	Interim	Interim	9 month	9 month	Rolling 12	Full year
	Jul 2021	Jul 2020	Jan 2021	Jan 2020	Oct 2020	Sep 2019
	-Sep 2021	-Sep 2020	-Sep 2021	-Sep 2020	-Sep 2021	-Dec 2020
Net sales, MSEK	690,9	383,7	1 605,5	933,6	2 674,7	2 468,6
EBIT, MSEK	0,3	57,0	-21,0	-1,0	49,1	280,0
Profit before tax, MSEK	-4,9	42,7	-30,3	-22,5	-6,1	182,6
Net profit, MSEK	1,5	38,5	-16,8	-2,5	-1,1	198,3
Earnings per share before and after dilution, SEK	0,19	1,54	-0,55	-0,10	-0,04	7,96
Equity per share, SEK	39,55	40,96	39,55	40,96	39,55	41,63
Cashflow from operating activities, MSEK	-30,3	88,0	283,8	-144,6	175,5	-483,7
Total assets, MSEK	1 844,3	1 870,4	1 844,3	1 870,4	1 844,3	1 808,2
Net debt - /net cash +, MSEK	532,3	390,5	532,3	390,5	532,3	304,2
Signed customer contracts, MSEK	3 657,7	5 440,8	3 657,7	5 440,8	3 657,7	5 130,9
No of turbines taken into operation, amount	0	38	13	38	13	81
No of turbines handed over to customers, amount	0	38	13	40	13	83
Turbines taken into operation, MW	0	160	47	160	47	324
Turbines handed over to customers, MW	0	160	47	162	47	325
Managed turbines, MW	921	903	921	903	921	903
Equity/assets ratio, %	53,7	54,5	53,7	54,5	53,7	57,3
Return on equity after tax, %	0,2	17,7	0,2	17,7	0,2	20,6**
**return on equity after tax is calculated for 16 months earnings relative to avarage equity.

For further information contact:

Per Witalisson, CEO, +46 70-265 16 15
Catharina Persson, CFO, +46 70-932 97 77
Johan Hammarqvist, Head of Communications, +46 720 50 59 11

The information in this press release is disclosed pursuant to the EU Market Abuse Regulation. The information was released for public disclosure through the agency of head of communication Johan Hammarqvist on November 18^th, 2021 at 8.30 AM CET.

About Eolus:
Eolus Vind AB is one of the leading wind power developers in the Nordics. Eolus is active in the whole value chain from development of green field projects to construction and operation of wind farms. Eolus offers attractive and competitive investments in the Nordic and Baltic countries, Poland as well as the United States to both local and international investors. Founded in 1990, Eolus has constructed 666 wind turbines with a capacity of 1 414 MW. Eolus has signed contracts for about 1 330 MW of asset management services of which 921 MW are in operation and the rest under construction.

Eolus Vind AB has 36 500 shareholders. Eolus shares are listed at Nasdaq Stockholm.

For more information about Eolus, please visit www.eolusvind.com

Attachment

• Eolus - Extract of Q3 Report 2021