Investor Factbook June/July 2020

› Classification: Public |

Nordex Group Nordex SE – Investor Factbook June/July 2020

Experienced management team

José Luis Blanco Christoph Burkhard Patxi Landa CEO CFO CSO

› CEO Acciona Windpower › CFO Siemens Wind Power › Business Development Director Offshore and Executive Committee › Various Senior Management member at Acciona Windpower & Chief Officer positions at › Various other positions Gamesa at Siemens › Various Chief Officer positions at Acciona › BHF Bank, EBRD

Agenda

1 Company overview & business model 2 Products & markets 3 Financials 4 Nordex share 5 Sustainability

Investment Case

Strategic pillars

Global COE Onshore

Global player with strong Competitive and COE-driven Onshore wind energy presence in all volume product portfolio covers is the key technology for and growth markets for all regions and the irrevocable transition onshore wind energy market conditions to renewable energy   

Shareholder Team

Strong anchor shareholder Experienced management supports growth strategy and outstanding team  

Nordex and Acciona Windpower created a top 4 global player

A strong fit benefitting from complementary approaches

Nordex AWP Nordex Group

Market focus Europe + Emerging markets = Truly global

Small & medium-sized Large developers Customer focus + = Broad customer base customers and IPPs

Complex and land Projects without Product focus + = Different projects constrained projects land constraints

Complementary Technology focus Blades + Concrete towers = technologies

Creating a stronger and more competitive company

Nordex – a pioneer in wind with more than 30 years of experience

› Global manufacturer of wind energy › Listed company in the German TecDax systems focused on turbines in the 2-5 and SDAX MW class › Founded 1985 in Denmark, IPO in 2001 › WTG variants for different wind and climate conditions, addressing › Acquisition of Acciona Windpower (AWP) the requirements of developed as well in 04/2016 as emerging markets › Main shareholder Acciona S.A. (36.41%) › Production sites in Germany, Spain, Brazil, India, USA (mothballed), › Revenues 2019: Around EUR 3.3bn Argentina and Mexico › Track record of more than 28 GW › Headquarter in Hamburg; subsidiaries in over 40 countries for sales and service in all core markets

Installation track record of Nordex

MORE THAN 28,132 MW INSTALLED WORLDWIDE

SPAIN 1,993 MW IRELAND 855 MW NORWAY 190 MW FRANCE 2,253 MW GERMANY 4,490 MW SWEDEN 514 MW PORTUGAL 421 MW POLAND 461 MW FINLAND 512 MW ITALY 745 MW CZECH REPUBLIC 12 MW DENMARK 152 MW CROATIA 57 MW ROMANIA 100 MW BELGIUM 80 MW GREECE 166 MW BULGARIA 8 MW NETHERLANDS 328 MW UK 1,468 MW ESTONIA 18 MW LITHUANIA 70 MW

TURKEY 2,090 MW PAKISTAN 300 MW INDIA 78 MW CHINA 1,053 MW JAPAN 73 MW SOUTH KOREA 65 MW ARGENTINIA 261 MW AUSTRALIA 371 MW CANADA 203 MW EGYPT 63 MW USA 4,631 MW SOUTH AFRICA 563 MW MEXICO 1,172 MW OTHERS (ROW) 330 MW COSTA RICA 50 MW PERU 132 MW COLOMBIA 20 MW BRAZIL 1,185 MW URUGUAY 309 MW CHILE 288 MW

Nordex achieved global top 4 in 2019

MARKET SHARES (BASED ON MW INSTALLED)

Europe Nordex Americas Nordex Group Group placed 4th 11.5% placed 4th 7.3%

Asia pacific Global Nordex (excl. China) (excl. China) Group 7.6% No installations in 2019 placed 4th

Others

Our history as one of the pioneers in onshore wind industry

Founding First company Installation Completion Commencement Installation of Nordex worldwide of the 100th of the world’s of industrial of the 2000th in Denmark to produce Nordex first series rotor blade Nordex turbine a MW-class turbine multi-MW production turbine 2000 turbine 2003 2005 2007

1985 1995 1999 2000 2001 2003 Start of the series Opening of First AW Opening of the wind production production 60/1300 turbine assembly in of the AW facility in prototype Barásoain, Spain 1500 US

Launch of Launch of Nordex and Acciona Launch of Launch N155/4.5 Gamma Delta generation Windpower become one 4 MW product Entry into the generation company series Delta4000 5 MW Class Launch N149./5.X and 2008 2013 2014 2016 2018 N163./5X

2010 2013 2016 2017 2019 More than Launch of Introduction Industrial Implementation 2000 MW of the Opening of first N133/4.8 for of the AW in Brazil with the opening AW 3000 assembly plant strong wind 3000 of hub production plant platform sold in India sites

Value chain - Nordex core business

MORE THAN A MANUFACTURER.

Project Wind Farm Production and Technical Wind Farm Services and Development System Planning Implementation Operations Maintenance

Project Turbine Civil Electrical Installation & Service Development Delivery Works Infrastructure Commissioning

› Selection of location › Ownership › Optimal siting › Wind measurements › Soil survey › Sound / shade emission › Economic viability › Grid connection › Special purpose registration › Environmental permitting › Building permitting

Strategy roadmap further strengthens our competitive position

We are: Sustainable | Global | COE Leader

We focus on: COE | Speed | Flexibility

1 2 3 4 5

We deliver: Global market COE optimized Supply chain Operational cost Service presence product portfolio transformation efficiencies business

Increase of order New product Ramping up Stringent Continuously intake to 6.2 GW in N163/5.X enlarges India and W/C-management growing with FY 2019 product portfolio blade production programme dedicated features in Turkey implemented as predictive maintenance

Leading global onshore wind turbine supplier

Nordex production footprint shows international supply chain

GOOD GEOGRAPHICAL FIT FOR PRODUCTION TO SERVE GLOBAL DEMAND.

Germany Turkey China ›Nacelle ›Blade ›Smart Logistics ›Blade ›Blade (2x)

Spain ›Nacelle ›Blade Mexico ›Tower ›Tower ›Blade India ›Nacelle Brazil ›Tower ›Nacelle ›Blade ›Blade ›Tower (2x) Argentina South Africa Chile ›Tower ›Tower ›Nacelle ›Tower (3x)

Nordex operates a lean and flexible business model

Turbine development, production, projects and logistics Asset light business model Component Project Turbine Research Turbine in value chain development and Management & Development assembly manufacturing and Logistics

Focus on core Wind farm development and operations competencies by outsourcing parts of value Project Wind farm Operation and chain development owners maintenance

Limited vertical integration allows Nordex to manage capital commitment efficiently and retain a flexible business model

Third party Partially in-house Key focus/in-house

Agenda

1 Company overview & business model 2 Products & markets 3 Financials 4 Nordex share 5 Sustainability

Competitive portfolio for all different sites

Development of product portfolio & pipeline

Light Medium Strong wind wind wind One platform with market specific derivatives N149/5.x 5MW N163/5.x Delta4000 N133/4.8

4MW+ N155/4.5 Future focus of product development N149/4.0-4.5 incl. 4.8 mode

AW116/3000

AW125/3000-3150 Continuous CoE AW132/3000-3465 AW improvements AW140/3000 for low wind sites 3MW+ AW148/3000

N100/3300 Phase-out of 3MW Delta N117/3000-3600 Delta platform in preparation N131/3000-3900

N90/2500 Phase-out of Gamma platform 2MW+ N100/2500 Gamma in preparation N117/2400

Site dependent today 2022+

N149/5.X – Key facts

WTG design purely focused on lowest possible COE lifetime extension up to 25 years Standard design lifetime of 20 years proven Delta4000 product series 149m rotor “Staged Approach” philosophy proven blade of N149/4.0-4.5

only 5 MW+ WTG based >5MW rating on proven platform N149/5.X utilizing site potential IEC S class up to IEC A up to 164m hub heights Nacelle dimensions remain site-specific towers suitable in core low-to- unchanged to N149/4.0-4.5 medium wind speed sites 104.8 dB(A) @ 5.5 MW first contracts already signed (major order of 400 MW from Norway received in March 2020) + numerous sound modes

N163/5.X – Key Facts

WTG design purely focused on lowest possible COE lifetime extension up to 25 years Standard design lifetime of 20 years 163m rotor Same nacelle as N149/5.X >5MW rating utilizing site potential IEC S class N163/5.X Suitable in core various site-specific towers low-to-medium wind speed sites up to 164m hub height numerous sound modes Single-piece blade +20% AEP based on N149 design (Annual Energy Production) (vs. N149/4.0-4.5)

Global service network with more than 20 GW under contract

Service portfolio: Nordex service makes the difference

On-site Off-site

Maintenance Monitoring & Spare Parts Training & Inspections Technical Support Management

› Maintenance › 24/7 Control Centre › Worldwide supply of › Uniform qualification of › HSE inspections › Support for technical spare parts, 365 days all service technicians issues a year worldwide

Trouble Shooting Digital and Data Upgrades & & Repair Analytics Modernizations

› Onsite repair & › Driving digital change, › Products to enhance troubleshooting remote diagnostics & the performance of the › Exchange & overhaul predictive maintenance. installed fleet of major components

Wind will be a prominent source as global energy production rises

World energy production is rising… … with onshore wind as a major contributor Electricity generation by region ( PWh) Cumulative global installed capacity by source (GW)

OECD countries US India 2018 European Union China Others 2035

+39% 40.000 528 Onshore Wind +313% 35.000 2,180

30.000 22 Offshore Wind 258 25.000 526 20.000 PV 3,630 15.000 Other 1,451 10.000 Renewables 1,831 5.000 Conventional 4,365 +8% 0 Sources 4,731 2012 2015 2020 2025 2030 2035

Strong, continuous growth of onshore wind in the medium term expected

Source: Bloomberg New Energy Finance, New Energy Outlook 2019, as of Jun-2019 Conventional sources include nuclear, coal, gas and oil capacities © Nordex 2020 Other renewables include geothermal, hydro and others › Classification: Public 21 | Products & markets Global demand for electricity continues to grow and will increasingly be met by renewables

Key drivers of trend Global renewable electricity generation

› Global demand for electricity will grow by almost Cumulative renewable electricity generation in China and India 62% until 2050: PWh  In non-OECD countries, power demand is expected to double 30  Most of the growth comes from large, rapidly 26.4 expanding economies, especially China and India 25  In OECD countries, demand will be flat or even +4% 8.8 negative, reflecting a combination of improved energy OECD 20 countries efficiency, modest economic expansion, and retreat 17.9 from energy-intensive industries 10.3 non-OECD  These dynamics are slightly offset by the 15 6.8 increasingly important role of electric vehicles countries

10 › Cheap renewable energy and batteries 7.2 7.2 fundamentally reshape the electricity system 5 3.1 › A total of USD 13.3 trillion will be invested in new power generating capacity between 2018 and 2050, 2.3 with over 83% going to renewables 0 2018 2035e 2050e

Agenda

1 Company overview & business model 2 Products & markets 3 Financials 4 Nordex share 5 Sustainability

Executive summary FY 2019

FY 2019 RESULTS FULLY IN LINE WITH GUIDANCE

Sales EBITDA margin Working capital ratio EUR 3,285m 3.8% -9.1%

› Strongest ever order intake of 6.2 GW in FY 2019 - increase of 31% compared to previous year 2018.

› 44% of the 6.2 GW order intake in FY 2019 accounts for latest turbine generation Delta4000.

› Book-to-bill-ratio of 1.53 signalling further growth in the future.

› Delta4000 product portfolio with five different product variants covering all customer requirements.

› On October 8th cash capital increase of EUR 99m through private placement to anchor shareholder Acciona.

Order intake FY 2019

Order intake turbine* (in MW) Order intake turbine* by regions (in %)

+31% Europe North America Latin America RoW 6,207

4,754 45% 51%

15% 28% 25%

18% 15% 3% 12M/2018 12M/2019 12M/2018 12M/2019

› Strong order intake in FY 2019: EUR 4,415m (EUR › Large orders from USA, Turkey, Mexico, Sweden and 3,637m in the previous year) Brazil in FY 2019

› Thereof in Q4/2019: EUR 1,102m (EUR 1,290m in › 44% of order intake for new Delta4000 generation prior-year quarter) in FY 2019

› Stable ASP of EUR 0.71m/MW in FY 2019 › Share of Delta4000 generation was 49% in Q3 and increased to 57% in Q4/2019 indicating transition to 4/5 MW class products

Order intake Q1/2020

Order intake turbine* (in MW) Order intake turbine* by regions (in %)

+59% Europe North America Latin America RoW 1,644

41%

1,035 0% 79%

44%

0% 15% 21% 0% Q1/2019 Q1/2020 Q1/2019 Q1/2020

› Strong order intake in Q1/2020 compared to › Largest orders from Norway, Chile, Great Britain, previous year quarter: EUR 1,185m (EUR 810m in Turkey and Finland in Q1/2020 Q1/2019) › 85% of order intake in Q1/2020 accounted for latest › Stable ASP of EUR 0.72m/MW in Q1/2020 compared turbine generation Delta4000 to FY 2019

Continuously growing service business in FY 2019 and Q1/2020

Development of service revenues (EUR m) and EBIT margin Development of service revenues (EUR m) and EBIT margin

EBIT margin 15.1% 16.1% 17.7% EBIT margin 16.5% 18.0%

403 102.0 343 87.4 315

2017 2018 2019 Q1/2019 Q1/2020

Share of fleet under contract (as % of installed base) Share of fleet under contract (as % of installed base)

30% 27% Installed Installed base: base: 28.2 GW 28.2 GW under contract under contract 70% 73% not under contract not under contract

Order backlog FY 2019 and Q1/2020

Order backlog turbines (EUR m) Order backlog service (EUR m)

+43% +14% 5,534 2,537 2,218 3,869

12M/2018 12M/2019 12M/2018 12M/2019 › Distribution: Europe (52%), North America (19%), Latin › 7,760 wind turbines under service – corresponding to 19.6 GW America (17%), Rest of World (12%)

+32% +18% 5,820 2,625 2,218 4,414

Q1/2019 Q1/2020 Q1/2019 Q1/2020 › Distribution: Europe (58%), Latin America (18%), North › 8,054 wind turbines under service – corresponding to 20.6 GW America (16%), Rest of World (8%)

Operational development FY 2019

Installations (MW) Production

+23% Turbine assembly (MW) Inhouse blade production (#) 3,090 +105% +69% 2,522 4,677 1,366

807 2,278

12M/2018 12M/2019 12M/2018 12M/2019 12M/2018 12M/2019 › Total installations of 938 WTGs in 21 countries in FY › Output turbines totaled 1,388 units in FY 2019: 536 2019 GER, 526 ESP, 234 IND, 49 BRA and 43 ARG

› Geographical split: 44% Europe, 29% Latin › Inhouse blade production of 1,366 units in FY 2019: America, 23% North America and 4% Rest of World 600 ESP, 465 GER, 234 IND and 67 MEX

› Outscourced blade production of 2,556 units in FY 2019

Operational development Q1/2020

Installations (MW) Production

+244% Turbine assembly (MW) Inhouse blade production (#) 899 +135% +7% 1,641 321 300

698 261

Q1/2019 Q1/2020 Q1/2019 Q1/2020 Q1/2019 Q1/2020 › Total installations of 269 WTGs in 21 countries in › Output turbines of 448 units in Q1/2020: 210 GER, 147 Q1/2020 (Q1/2019: 84 WTGs) ESP, 61 IND, 23 BRA and 7 ARG

› Geographical split: 60% Europe, 15% Latin America, › Inhouse blade production of 321 units in Q1/2020: 168 13% North America and 12% Rest of World GER, 108 IND and 45 MEX

› Outscourced blade production of 528 units in Q1/2020

Details: Lead banks:

Amount: 1.21bn EUR BNP Paribas

Duration: 3 years (until April 2023) Commerzbank

Renewal option: 1+1 year HSBC

Number of banks & insurances: 21 Intesa Sanpaolo

Purpose: Issuance of guarantees UniCredit Bank

Security: Pari passu, unsecured

ESG rating provider: ISS ESG

ESG company rating: B

Income statement and balance sheet FY 2019

in EUR m FY 2019 FY 2018 in EUR m 31.12.19 31.12.18

Sales 3,284.6 2,459.1 Non-current assets 1,488.9 1,277.6 Total revenues 3,871.4 2,364.2 Current assets 2,513.8 1,781.0 Cost of materials -3,096.0 -1,710.2 Gross profit 775.4 654.1 Total assets 4,002.7 3,058.5

Personnel costs -360.7 -325.9 Equity 745.4 697.3 Other operating -290.9 -226.5 (expenses)/income Non-current liabilities 914.2 822.9 EBITDA 123.8 101.7 Current liabilities 2,343.2 1,538.3 Depreciation/amortization -143.4 -155.8 Equity and total 4,002.7 3,058.5 EBIT -19.6 -54.2 liabilities

Net profit -72.6 -83.9 Net debt** -84.0 -32.5 Gross margin* 23.6% 26.6% Working capital ratio*** -9.1% -3.8% EBITDA margin 3.8% 4.1% EBIT margin w/o PPA 0.1% 0.3% Equity ratio 18.6% 22.8%

*Gross profit in relation to sales. ** Cash and cash equivalents less bank borrowings and bond. © Nordex 2020 ***Based on actual sales figures. › Classification: Public 32 | Financials

Income statement Q1/2020

in EUR m Q1/2020 Q1/2019 abs. change Comments

Sales 964.6 398.9 565.7 › Sales of EUR 965m and Total revenues 1,021.5 583.6 437.9 EBITDA margin of 1.4% in line with expectations Cost of materials -865.2 -441.1 -424.1 › PPA depreciation totaled EUR Gross profit 156.3 142.5 13.8 7.2m in Q1/2020 (EUR 6.8m Personnel costs -89.7 -85.0 -4.7 in previous year quarter)

Other operating (expenses)/income -53.5 -54.2 0.7

EBITDA 13.1 3.3 9.8

Depreciation/amortization -36.8 -33.6 -3.2

EBIT -23.7 -30.4 6.7

Net profit -38.0 -35.0 -3.0

Gross margin* 16.2% 35.7%

EBITDA margin 1.4% 0.8%

EBIT margin w/o PPA -1.7% -5.9%

Balance sheet Q1/2020

in EUR m 31.03.20 31.12.19 abs. change Δ in % Comments

Non-current assets 1,454.2 1,488.9 -34.7 -2.3 › Cash position of EUR 432m at the end of Q1/2020 (EUR Current assets 2,638.1 2,513.8 124.3 4.9 510m year-end 2019)

Total assets 4,092.4 4,002.7 89.7 2.2 › Balance sheet prolongation based on increased assets Equity 707.4 745.4 -38.0 -5.1 and liabilities due to high activity level Non-current liabilities 871.2 914.2 -43.0 -4.7

Current liabilities 2,513.8 2,343.2 170.6 7.3

Equity and total liabilities 4,092.4 4,002.7 89.7 2.2

Net debt* -156.4 -84.0

Working capital ratio** -7.5% -9.1%

Equity ratio 17.3% 18.6%

*Cash and cash equivalents less bank borrowings and bond. © Nordex 2020 **Based on actual sales figures. › Classification: Public 34 | Financials

Working capital development

Working capital ratio (in % of sales)* Working capital development (in EUR m)*

-1.5

-4.7 -5.2 174

136

-7.5 27 -289 -9.1 -300 Q1/ Q2/ Q3/ Q4/ Q1/ Q4/ Receiva- Inven- Prepay- Pay- Q1/ 2019 2019 2019 2019 2020 2019 bles tories ments ables 2020

› Low working capital ratio supported by ongoing › High business activity leads to an increase in stringent working capital management inventories largely offset by trade payables

› Working capital remains on low level due to consistently high order intake in Q1/2020

Cash flow statement FY 2019 and Q1/2020

in EUR m FY 2019 FY 2018 in EUR m Q1/2020 Q1/2019

Cash flow from operating Cash flow from operating activities before net -156.9 -31.4 activities before net -10.3 3.2 working capital working capital Cash flow from changes in Cash flow from changes in 194.9 156.3 -11.5 -57.9 working capital working capital Cash flow from operating Cash flow from operating 38.0 124.9 -21.8 -54.7 activities activities Cash flow from investing Cash flow from investing -163.9 -80.9 -35.1 -21.6 activities activities Free cash flow -126.0 44.0 Free cash flow -56.9 -76.3 Cash flow from financing Cash flow from financing 30.6 -46.4 -6.7 -2.4 activities activities Change in cash and cash Change in cash and cash -95.3 -2.4 -63.6 -78.8 equivalents* equivalents*

› Cash flow from operating activities impacted by working › Cash flow from investing activities reflects further expansion capital changes and at the same time by net loss and of supply chain management outflows related to VAT phasing effects › Cash flow from financing activities primarily driven by › Cash flow from financing activities mainly impacted by repayment of EIB loan capital increase in October and repayment of SSD tranche in April last year

Total investments in FY 2019 and Q1/2020

CAPEX (in EUR m) CAPEX (in EUR m)

Property, plant, equipment Property, plant, equipment Intangible assets Intangible assets

52.8% 69.5% 172.5 37.3

112.9 134.2 22.0 31.1

71.6 15.8

41.3 38.3 6.2 6.2

12M/2018 12M/2019 Q1/2019 Q1/2020

Capital structure

Net debt*/EBITDA** Equity ratio (in %)

3.0 2.5 2.5 2.2 25

2.0 Ambition level 19.7 1.5 1.3 1.2 20 18.6 17.4 17.3 1.0 0.7 15.5 0.5 15 0.0 -0.5 10 Q1/ Q2/ Q3/ Q4/ Q1/ Q1/ Q2/ Q3/ Q4/ Q1/ 2019 2019 2019 2019 2020 2019 2019 2019 2019 2020

› Leverage ratio remains further below own ambition › Equity ratio at stable level at the end of Q1/2020 level of 1.5

*Cash and cash equivalents less bank borrowings and bond. © Nordex 2020 ** Based on last twelve months. › Classification: Public 38 | Financials

Debt maturity profile of Nordex Group

(in EUR m) EIB SSD fix SSD var Bond

350 307 300

250 228 200

150

100 56 50 13 13 3 7 0 2019 2020 2021 2022 2023 2024 2025 2026

› SSD maturity of EUR 43.5m was fully repaid out of cash in April 2019. › Major upcoming debt maturities in Q2/2021 (SSD) and 2023. › All Nordex debt instruments well within its covenant thresholds.

Impact of Covid-19 pandemic on Nordex business performance

Management priorities Global environment Impact on Nordex

Health & safety of all Nordex employees • Reduced capacity utilization due to and business partners is top priority • Covid-19 pandemic started in China temporary shutdowns (e.g. Mexico) causing disruptions globally

Global cross-functional Covid-19 • Higher costs related to disruptions in • Shutdowns and restrictions impacting taskforce established to assess the project execution value chain at different stages and at situation continuously different times • Delays in installations leading to an increase of inventories Ensure business continuity at all possible • Travel and transport restrictions limiting options mobility for people as well as for goods • Negotiations with customers and suppliers on Liquidated Damages (LD) • Increasing demand of green energy and prolongation costs expected for the time post Covid-19 Strong focus on supply chain continuity • Delays in ramping up and enlarging the supply chain

Clear focus on working capital and cash flow management

Guidance 2020 withdrawn due to Covid-19 pandemic*

Sales: EUR 4.2 - 4.8bn Withdrawn

EBITDA: EUR 160 - 240m Withdrawn

Working capital ratio: <0% Withdrawn

CAPEX: min. EUR 140m** Withdrawn

*The management board of Nordex has decided on May 5th to withdraw the guidance for the financial year 2020. © Nordex 2020 **Depending on the market situation and the pace of the further development of the supply chain. › Classification: Public 41 | Nordex SE – Investor Factbook

Agenda

1 Company overview & business model 2 Products & markets 3 Financials 4 Nordex share 5 Sustainability

Stable shareholder structure & good market coverage

Shareholder structure Analyst coverage

Sell Freefloat 1 Acciona S.A.

Buy 36.41% 6

63.59% 7 Hold

Key figures:* Consensus of 14 analysts:**

› Number of shares: 106,680,691 › Ø Share price: EUR 10.70 › Share price: EUR 9.18 › Ø 2020 Revenues (e): EUR 4,089m › Market capitalization: EUR 979.3m › Ø 2020 EBITDA margin (e): 4.1%

Nordex share price development (Jan 2019 – mid June 2020)

Nordex SE TecDAX SDAX

Volatility of share price is mainly driven by transformation phase of industry and company

Strong and committed anchor shareholder

› Acciona Group profile / strategy › Recent support for Nordex

› Holding company with a presence in over 40 countries that invests, develops and operates infrastructure, with a particular emphasis on renewable energy Continuously strong commitment to strategic › Group operates through three main business segments: investment into Nordex recently underpinned › Infrastructure: Covers construction activities, industrial activities, by €99m capital increase in October 2019 concessions, water and services › Energy: Includes activities ranging from construction of wind farms to generation and distribution 1› Long-term supportive shareholder since merger of wind turbine business into Nordex in 2016 › Other: Deals with businesses relating to fund management and stock market brokerage, wine production, real estate business and other investments 2› Additional liquidity facilitates expected growth due to ongoing demand for Delta4000 platform

Key facts FY 2019: 3› Commitment of anchor shareholder proves › Market capitalization: c. €5.2bn Nordex’ path of profitable growth › Revenue: €7.2bn › EBITDA: €1.4bn › Established track record across Debt and Equity Capital Markets › Entrecanales family as main anchor shareholder holding over 50%, free float c. 39%

Agenda

1 Company overview & business model 2 Products & markets 3 Financials 4 Nordex share 5 Sustainability

Sustainability strategy 2019 to 2021

Sustainability key facts

Product Employees

Lifecycle assessment of wind farm with Delta4000 Lost time injury frequency (LTIF) lowered to turbines shows: 4.6 in FY 2019 (FY 2018: 5.6) only 6.4 g CO2e are emitted per kilowatt-hour electricity generated

73 A single Nordex large-scale turbine1 covers nationalities were working at Nordex in FY 2019 the average annual electricity demand of about 3,000 four-person households2. Environment

474 g of CO2 are saved per kWh generated by wind turbines 73.5% (compared to the German electricity mix 20183). of the overall amount of purchased electricity Projection for one Delta4000 at medium wind speed: in 2019 was generated by the use of savings of approx. renewables

6,300 t CO2 per year.

1 Reference: N149/4.0-4.5, medium wind speed of 6.5m/s, excl. losses. 2 https://www.musterhaushalt.de/durchschnitt/stromverbrauch/ average electricity demand of 4,432 kWh per year. © Nordex 2020 3 https://www.umweltbundesamt.de/sites/default/files/medien/1410/publikationen/2019-04-10_cc_10-2019_strommix_2019.pdf. › Classification: Public 48 | Nordex SE – Investor Factbook

Financial calendar 2020*

2020* Event

9 March Publication of preliminary figures FY 2019

24 March Analyst conference / Publication of Annual Report 2019

11 May Interim Statement Q1 2020

26 May Virtual Annual General Meeting

13 August Interim Report H1 2020

13 November Interim Statement Q3 2020

Disclaimer

› All financial figures within this presentation are unaudited.

› This presentation was produced in June 2020 by Nordex SE solely for use as a source of general information regarding the economic circumstances and status of Nordex SE. It does not constitute an offer for the sale of securities or an invitation to buy or otherwise acquire securities in the Federal Republic of Germany or any other jurisdiction. In particular it is not intended to be an offer, an investment recommendation or a solicitation of an offer to anyone in the U.S., Canada, Japan and Australia or any other jurisdiction. This presentation is confidential. Any reproduction or distribution of this presentation, in whole or in part, without Nordex SE’s prior written consent is expressly prohibited.

› This presentation contains certain forward-looking statements relating to the business, financial performance and results of Nordex SE and/or the industry in which Nordex SE operates, these statements are generally identified by using phrases such “aim”, “anticipate”, “believe”, “estimate”, “expect”, “forecast”, “guidance”, “intend”, “objective”, “plan”, “predict”, “project”, and “will be” and similar expressions. Although we believe the expectations reflected in such forward-looking statements are based upon reliable assumptions, they are prepared as up-to-date and are subject to revision in the future. We undertake no responsibility to update any forward-looking statement. There is no assurance that our expectations will be attained or that any deviations may not be material. No representation or warranty can be given that the estimates, opinions or assumptions made in, or referenced by, this presentation will prove to be accurate.

Contact details

IF YOU HAVE ANY QUESTIONS PLEASE CONTACT THE INVESTOR RELATIONS TEAM:

Felix Zander Tobias Vossberg Rolf Becker

Nordex SE Langenhorner Chaussee 600 22419 Hamburg Germany

Phone: +49-40-30030-1000 Email: [email protected] Web: www.nordex-online.com