COMPANY PROFILE

v.2019-10-04/DS

FRI-EL GROUP HISTORIC HIGHLIGHTS

1994 FRI-EL GROUP founded by Thomas, Josef and Ernst

Gostner, operates in the production and sale of electricityfrom renewable sources. First acquisitions of hydro electric plants.

2001 The Group established an important partnership with EDF Energies Nouvelles, building and operating in a 50/50 partner-ship 13 wind farms with a total installed capacity of 274 MW.

2002 The first wind farm was built in Gorgoglione with a total installed capacity of 3.3 MW using 5 Vestas V47 turbines.

2007 Ready to undertake new challenges, FRI-EL GROUP

established FRI-EL Biogas Holding, for the development, construction and operation of power plants fuelled withagricultural products.

2008 FRI-EL GROUP entered into a strategic partnership withInnogy Italia (formally RWE Innogy Italia) for the development and operation of wind farms and biomass plants.

2009 The 74.8 MW thermoelectric power plant in Acerra (Naples), fuelledby vegetable oil, entered in full production. The first biogas power plant located in Codroipo is fully up and running.

2010 Two wind farms with an installed capacity of 50.7 MW have been completed with the JV Partner RWE Innogy Italia and further nine biogas plants enter in full production.

2011 One new wind farm (16 MW in JV with RWE Innogy Italia) and two biogas facilities start operation.

2012 With the commissioning of a wind farm and nine biogasfacilities, FRI-EL GROUP confirms its leadership position in themarket.

2013 FRI-EL GROUP extended its partnership with GAR; two wind farmswith a total capacity of ca.100 MW were installed.

2014 Through the purchase of RWE Innogy’s 80% stakes,

FRI-EL acquires full ownership of SPER S.p.A. and ist solid biomasspower plant of 18.7 MW in Dittaino.

2016 FRI-EL GROUP has been awarded with the subsidized tariff for a

period of 20 years for 4 wind energy projects with an installed capacity of approximately 130 MW.

2017 Due to a public tender offer, FRI-EL owns today 86% of the shares of Alerion Clean Power S.p.A, which is listed on the Milan Stock Exchange. With a total installed wind capacity of 901 MW, the Group is now the second largest wind power producing company in Italy (todays total Group gross capacity of 1,023 MW).

2018 FRI-EL acquires two new biogas plants. One of the two is

the first plant fuelled with organic waste run by the company. FRI-EL GROUP also connected the Medio Campidano wind farm with a total gross installed capacity of 30.8 MW

HISTORY

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FRI-EL GROUP HISTORIC HIGHLIGHTS

2019 The windfarms of Morcone-Pontelandolfo, Albareto and Colle

Sannita with a total gross installed capacity of 100.1 MW have beenconnected to the national grid and entered into operation.

2019 Alerion Clean Power, now part of the FRI-EL Group acquired the first, already running, wind farm in Spain with a total gross installedcapacity of 36 MW.

2019 FGP Group executed an asset swap with EDF EN Italia S.p.A., resultingin the consolidation of FRI-EL Ichnusa and it‘s subsidiary FRI-EL Campidano (which runs a windfarm of 70 MW).

HISTORY

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PLANNING TODAY TO LIVE WELL TOMORROW

OUR MISSION

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Further consolidate our leading position as producer of green energy in the business units Wind, Biomass, Hydro and Biogas and strengthen our activities in energy farming

Focus on sustainable, eco-friendly development andlong-term investments

Create value for our partners and stakeholders throughsustainable investments, consistent risk management andinnovative thinking

A DIVERSIFIED BUSINESS PORTFOLIO

BUSINESS UNITS OVERVIEW

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34 operating wind farms – 901 MW gross capacity (1 in Bulgaria and 1 in Spain)Annual Energy Gross Production of 1,500 GWhConsolidated experience of more than 20 years in the wind energy business, from research, development, construction, O&M, production and sale of electricity

FRI-ELWIND25 operating biogas plants of 1 MW capacity (2 out Fri-El Green Power perimeter). 23 plants are fuelled by agriculturalproducts and 2 by organic wasteParticipation and integration links with farmersShort supply chainAnnual Energy Gross Production of 180 GWh

FRI-ELBIOGAS1 operating crude palm oil – fuelled power plant of 74.8 MW Annual Energy Gross Production: approx. 600 GWh

FRI-ELLIQUID BIOMASS

1 operating eucalyptus wood-powered plant of 18.7 MWAnnual Energy Gross Production: approx. 126 GWhSecured supply chain

FRI-ELSOLID BIOMASS15 operating hydroelectric power plants (12 out of Fri-El Green Power perimeter) - installed capacity 24 MWLocated in 7 regions of Central and Northern Italy

FRI-ELHYDRORomania: 13,200 ha in operationLogistics and irrigation advantages thanks toDanube deltaCultivation of maize, wheat, barley, sunflower, rape and soya

FRI-ELAGRICULTURE

PIETRO MAURIELLOWIND DEVEL.& HEAD of

BIOMASS DIVISION

ENRICO SIMONETTOBIOGAS DIVISION

LUIGI SPAGNABIOGAS & WASTE to

ENERGY DIVISION

DAVIDE IMAZIOWIND DIVISION

JOSEF GOSTNERCEO (VICE-CHAIRMAN)

THOMAS GOSTNERCHAIRMAN

HAND IN HAND TOWARDS SUCCESS

THE MANAGEMENT TEAM

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EXPERTISE AND YOUNG TALENTS

ERNST GOSTNERCOO

GEORG VAJACFO

MAURIZIO DE BIASIO&M DIVISION

PATRICK PIRCHERHEAD OF FINANCE

ADMINISTRATIONGROUP STRUCTURE

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ENSURE FUTURE GROWTH

STRATEGIC PARTNERSHIPS

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STRONG PARTNERS

Innogy Italia has been partner ofchoice of FRI-EL GREEN POWER

since 2008 for the operation ofthree wind farms in Italy, with a total gross installed capacity of 67 MW.

The strategic partnership with GAR was established in 2010. The jointventure in the liquid biomassdivision assures an optimal supplychain. In 2012 the partnership was extended into the wind sector, withan actual total gross installedcapacity of 125 MW.

GAR (Golden Agri Resources) is oneof the leading palm oil producers in the world.

BANKING RELATIONSHIPS

BANKING

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HIGH PROFILE

LEASING

FRI-EL GROUP has enteredinto high profile bankingrelationships.

Between 2002-2019 FRI-EL GROUP has raisedca. EUR 1.0 bn of financingfacilities.

The bulk of the financings(ca. 80 %) are structured aslimited recourse/non recourse project financings.

It is FRI-EL‘s aim to createand maintain long termbanking relationships.

FRI-EL COVERS THE WHOLE VALUE CHAIN

BUSINESS STRENGTHS

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FRI-EL GREEN POWERGROUP STRUCTURE

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LOCATIONS

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OPERATIONALPLANTS ANDOFFICES

WIND DIVISION

NULVI-TERGU

MORCONE

SAN BASILIO

CAMPIDANO

URURI

ALBARETO

GRAVINA DI PUGLIA

SANT’AGATA

GORGOGLIONE

ANZI

GROTTOLE

RICIGLIANO

GORGOGLIONE

CIORLANO

S. MARTINO IN P.

S. MARCO IN L.

ORDONA

LACEDONIA

ALBANELLA

CASTEL DI L.

AGRIGENTO

LICODIA

VIZZINI

VILLACIDRO

COMIOLICA

KRUPEN

COLLE SANNITA

HYDRO POWER

LASINO

BELLANO

TORRE

PONTEVICO

VITORCHIANO

MEDUNA

NONCELLO

LIGONCHIO

BURRIDA

LONGONE

TREIA

PONTE S. GIOVANNI

SCOPOLI

CARAMANICO

SERRAVALLE

BIOGAS DIVISION

VIGEVANO

MOMO

MORTARA

BRIONA

PIOVERA

ALESSANDRIA

GROPELLO C.

DAIRAGO

SERMIDE

VILLACIDRO

CODROIPO (Pan)

CODROIPO (Qua)

FLAIBANO

MEDEA

TORVISCOSA

ROVIGO

GARDILLIANA

OSTELLATO (Eu)

OSTELLATO (Bu)

CREVALCORE

MANDURIA

S.NICOLÓ D´ARC.

S. BENEDETTO PO

OSTIGLIA

OFFICES

BOLZANO

PADOVA

ROME

ACERRA

CAGLIARI

POTENZA

ENNA

MILAN

LIQUID BIOMASS

ACERRA

SOLID BIOMASS

ENNA

BULGARIA

SPAIN

WIND

LOCATIONS SPC OWNERSHIP GROSS CAPACITY (MW)

START ofOPERATIONS

FIT / CV(years)

GORGOGLIONE FRI-EL Gorgoglione S.r.l. 100 % 3.30 Feb. 2002 20

MORCONE Eolica PM S.r.l. 85.5 % 51.75 Jun. 2019 20

SANT‘AGATA FRI-EL S. Agata S.r.l. 100 % 72.00 Nov. 2006 12

RICIGLIANO FRI-EL Ricigliano S.r.l. 50 % 36.00 Jun. 2007 12

NULVI-TERGU FRI-EL Anglona S.r.l. 60 % 29.75 Jan. 2008 15

CAMPIDANO FRI-EL Campidano S.r.l. 100 % 70.00 Sep. 2008 15

ALBARETO FRI-EL Albareto S.r.l. 85.50% 19.80 May 2019 20

GROTTOLE FRI-EL Grottole S.r.l. 50 % 54.00 Dec. 2008 15

SAN BASILIO FRI-EL Guardionara S.r.l. 49 % with 24.65 Jun. 2010 15

URURI Andromeda Wind S.r.l. 49 % with 26.00 Oct. 2010 15

ANZI FRI-EL Anzi S.r.l. 49 % with 16.00 Jun. 2011 15

GUARDIA P. GORGOGLIONE FRI-EL San Canio S.r.l. 50 % with 24.00 Mar. 2013 15

GRAVINA DI PUGLIA Nuova Energia S.r.l. 50 % with 72.00 Nov. 2013 20

VIZZINI Callari S.r.l. 85.50% 36.00 Gen. 2009 15

CASTEL DI LUCIO Minerva S.r.l. 85.50% 23.00 Apr. 2010 15

ORDONA Ordona Energia S.r.l. 85.50% 34.00 Mar. 2009 15

SAN MARCO IN LAMIS Renergy San Marco S.r.l. 85.50% 44.20 Dic. 2011 15

ALBANELLA Eolo S.r.l. 85.50% 8.50 Feb. 2004 12

CIORLANO Dotto S.r.l. 85.50% 20.00 Mar. 2008 15

AGRIGENTO Wind Power Sud S.r.l. 85.50% 33.15 Jan. 2007 12

LICODIA Parco Eolico Licodia Eubea S.r.l. 67.19% 22.10 Sep. 2010 15

LACEDONIA Ecoenergia Campania S.r.l. 42.00% 15.00 Sep. 2008 15

SAN MARTINO IN PENSILIS New Green Molise S.r.l. 42.00% 58.00 Oct. 2010 15

WIND PORTFOLIO

OPERATING WINDFARMS

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LOCATIONS SPC OWNERSHIP GROSS CAPACITY (MW)

START of OPERATIONS FIT / CV(years)

VILLACIDRO Green Energy Sardegna S.r.l. 85.50% 30.80 Dec. 2018 20

KRUPEN Krupen Wind S.r.l. 42.83% 12.00 Oct. 2010 15

COMIOLICA Comiolica SL 85.50% 36.00 Dec. 2012 n.a.

COLLE SANNITA Golden FRI-EL Colle Sannita S.r.l. 50 % with 28.00 Jun. 2019 20

TOTAL 27 SPC‘s - 34 WINDFARMS 900.60

WIND PORTFOLIO

OPERATING WINDFARMS

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LIQUID BIOMASS

LIQUID BIOMASS

PLANT IN OPERATION

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LOCATION Acerra (Naples)

OWNERSHIP 50% FRI-EL Green Power with 50%

CAPACITY 74.8 MW (C1: 68.3 MW – C2: 6.5 MW)

ENERGY OUTPUT Approx. 600,000 MWh per year

FEEDSTOCK Crude Palm Oil (approx. 125,000 t/y)

START OF OPERATION December 2008

FRI-EL ACERRA KEY PLANT FEATURES

SOLID BIOMASS

SOLID BIOMASS

PLANT IN OPERATION

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LOCATION Enna (Sicily)

OWNERSHIP 100% FRI-EL Green Power S.p.A.

CAPACITY 18.7 MW

ENERGY OUTPUT Approx. 128,000 MWh per year

FEEDSTOCK 6,000 ha local eucalyptus plant

START OF OPERATION December 2012

ENNA KEY PLANT FEATURES

BIOGAS

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BIOGAS PORTFOLIO

PLANTS IN OPERATIONLOCATION SPC OWNERSHIP GROSS CAPACITY

(MW)START OF

OPERATIONSTARIFF (YEARS)

CODROIPO FRI-EL Quadruvium soc. agr. S.r.l. 73 % 0.999 Apr-2009 15

ROVIGO FRI-EL Rhodigium soc. agr. S.r.l. 96 % 0.999 Apr-2010 15

MANDURIA FRI-EL Jonica S.r.l. 100 % 0.999 May-2010 15

MOMO FRI-EL Momo soc. agr. S.r.l. 95 % 0.999 Apr-2010 15

MORTARA FRI-EL Mortara soc. agr. S.r.l. 95 % 0.999 Oct-2010 15

CODROIPO Pannellia Biogas soc. agr. S.r.l. 73 % 0.999 Dec-2010 15

PIOVERA FRI-EL Plovera soc. agr. S.r.l. 98 % 0.999 Dec-2010 15

OSTELLATO Società agricola Il Bue S.r.l. 100 % 0.999 Dec-2010 15

GUARDA VENETA FRI-EL Gardilliana soc. agr. S.r.l. 96 % 0.999 Dec-2010 15

GROPELLO CAIROLI FRI-EL Grupellum soc. agr. S.r.l. 98 % 0.999 Dec-2010 15

TORVISCOSA FRI-EL Annia soc. agr. S.r.l. 80 % 0.999 Jul-2011 15

DAIRAGO FRI-EL Maddalena soc. agr. S.r.l. 100 % 0.999 Sept-2011 15

SERMIDE FRI-EL Sermide soc. agr. S.r.l. 100 % 0.999 Nov-2011 15

ALESSANDRIA FRI-EL Alexandria soc. agr. S.r.l. 70 % 0.999 Feb-2012 15

BRIONA FRI-EL Briona soc. agr. S.r.l. 100 % 0.999 Mar-2012 15

MEDEA FRI-EL Medea soc. agr. S.r.l. 80 % 0.999 Oct-2012 15

VILLACIDRO Villacidro soc. agr. S.r.l. 100 % 0.999 Dec-2012 15

OSTELLATO FRI-EL Euganea soc. agr. S.r.l. 100 % 0.999 Dec-2012 15

FLAIBANO FRI-EL Flaibano soc. agr. S.r.l. * 100 % 0.999 Dec-2012 15

VIGEVANO FRI-EL Vigevano soc. agr. S.r.l. 100 % 0.999 Dec-2012 15

CREVALCORE FRI-EL Crevalcore soc. agr. S.r.l.* 100 % 0.999 Dec-2012 15

S.NICOLÒ D’ARCIDANO FRI-EL S.Benedetto Po soc. agr. S.r.l. 100 % 0.999 Dec-2012 15

SAN BENEDETTO PO Po Energia soc. agr. S.r.l. 100 % 0,999 Jan 2014 15

OSTIGLIA Calandre Energia soc. agr. S.r.l. 100 % 0,526 Jan 2014 15

TOTAL 24 SPC‘s 23.50

* out of perimeter FGP

HYDRO

HYDRO PORTFOLIO

PLANTS IN OPERATION

LOCATION SPC OWNERSHIP GROSS CAPACITY(MW)

START OF OPERATIONS

FIT / CV(YEARS)

CARAMANICO S.I.A. S.r.l.** 50 % 4.50 1994 NO

PONTE S. GIOVANNI Nodessi S.r.l.** 50 % 2.00 2006 12

VITORCHIANO Idroelettrica Umbra S.r.l. 100 % 0.36 1997 – 2017* 20

MEDUNA FRI-EL Hydro S.p.A.** 100 % 0.78 1908 - 2012* 15

NONCELLO FRI-EL Hydro S.p.A.** 100 % 0.58 1908 - 2012* 15

TORRE FRI-EL Hydro S.p.A.** 100 % 0.52 1960 - 2011* 15

BURIDA FRI-EL Hydro S.p.A.** 100 % 0.37 1953 - 2012* 15

LONGONE FRI-EL Hydro S.p.A.** 100 % 0.77 1990 - 2011* 15

PONTEVICO Ener.Fin S.r.l.** 100 % 0.59 1999 – 2017* 20

TREIA Z.E.T. S.n.c.** 100 % 1.24 1997 – 2018* 20

LIGONCHIO P.E.I. S.r.l.** 100 % 3.35 1992 - 2012* 15

BELLANO Hydro Energy Power S.r.l. 100 % 4.50 1947 - 2011* 15

CEPPO MORELLI Hydro Energy Power S.r.l. 100 % 2.49 1992 - 2013* 15

SCOPOLI P.E.I. S.r.l.** 100 % 0.60 2010 NO

SERRAVALLE ENERGAL Snc** 100 % 1.40 2013 15

TOTAL 9 SPC‘s - 15 plants 24.05

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* After revamping** out of FGP perimeter

AGRICULTURE

AGRIBUSINESS

ROMANIA: OPERATING PLANTATION (13,200 HA)

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Delta – Rom Agriculture S.r.l. was incorporated in 1997. Ownership: FRI-EL International Holding (33.3% Ener.Fin S.r.l. – 33.3% FRI-EL Energy Investments S.r.l. – 33.3% FRI-EL Capital S.r.l.)

The company owns a land lease for 10,000 ha of very fertile soils and is therefore oneof the largest farms in Romania

The neighboring farm Anglo – Rom Agriculture S.r.l. was purchased in 2009, alongwith its 3,200 ha of fertile farmland

Both farms benefits from logistics and irrigation advantages due to their location on an island on the Danube delta

The farm includes: land, the residential buildings (100 m distance from the river), thepier and the barn

Delta- and Anglo – Rom employs 125 permanent workers

The land is currently being cultivated with maize, wheat, barley, sunflower, rape and soya

FRI-EL GROUP aims to become the leading agriculture company in Romania

Thank You.