• All three investment vehicles CEE RF1, RF2 and RF3 generated attractive exit yields at project level
• New repowering fund CEE RF9 will almost triple energy production by repowering at least 29 operational assets, enabled by EUR 1bn of debt financing
• Article 9 fund targets a return (IRR) of approx. 10% at base case

CEE Group, a Hamburg-based asset manager specializing in renewable energies, is strategically focusing on the
increasingly important topic of repowering and is launching a specialized Article 9 fund for this purpose. A total
of 39 solar PV and onshore wind assets from CEE's three existing portfolios, RF1, RF2 and RF3, are being bundled
in the new fund with the aim of using the proven attractive renewables sites for at least 20 more years to
generate green energy and achieve adequate and reliable returns. For this purpose, operational wind turbine
generators and solar PV parks are sustainably replaced by state-of-the-art and highly efficient successor plants,
potentially tripling the electricity production or more.

The current installed capacity of the portfolio is around 457 MWp and will reach up to 1.1 GWp in the course of
repowering. The feed-in tariffs for the plants will largely remain in place and parts of the existing infrastructure,
such as grid connections, will continue to be used on site. Replaced wind turbines and solar PV systems will be
sold on the secondary market wherever possible and otherwise recycled as far as possible.

Repowering offers enormous potential for investors and the energy transition
“With this project, we are marking the next milestone in our company's development and are fully embracing
the repowering megatrend. The installed capacity of renewable energy generation in Germany and Europe in
the 2000s and 2010s is getting outdated – but it is proven to be one of the most productive and established
generation sites. Premature repowering can also be very attractive here – as a win-win for the energy
transition and for investors interested in long-term returns,” says Detlef Schreiber, CEO of the CEE Group.
”Such continuation vehicles are highly complex and require enormous stamina and implementation expertise.
The fact that the majority of current investors are committing to CEE Group again for another 20 years is a clear
endorsement of our expertise and proof that real progress in the energy transition is indeed possible in this
country with the right partners.”

Successful exits of the first three CEE portfolios
The CEE Renewable Fund/RF product series has clearly convinced institutional investors since launch of the first
investment vehicle in 2008. The investors of CEE RF 1, 2 and 3 have realized returns at project level between 10
and 12 percent (IRR) at exit. Given this successful track record, the vast majority of the legacy investors
(approx. 85%) have invested in the new repowering fund as a successor on a long-term basis. The term of RF9 is
20 years, the target IRR is approx. 10 percent (base case scenario). Locations of the assets (16 onshore wind
and 23 solar PV parks) are spread across Germany, with a few assets in France. On average, the assets are 13
years old and on average still enjoy seven years of state feed-in tariffs. Repowering is to be completed between
2027 and 2030.

About CEE Group

Founded in 2000, CEE Group has built a reputation on its comprehensive expertise in the field of renewable
energies. As a fully integrated asset manager, the company not only acquires solar PV, onshore wind and
storage projects, but also specializes in the repowering and hybridization of its legacy portfolio. From project
acquisition to commissioning and beyond, CEE Group focuses on quality, innovation and sustainability. With an
integrated team approach, the company continuously optimizes its plants, reacts flexibly to regulatory changes
and strives to maintain the existing sites and to increase the performance of the assets.

By using the latest technologies and sustainability concepts, CEE Group aims to achieve maximum returns for
investors while promoting environmental protection and sustainable energy generation. Long-term, trusting
partnerships with all stakeholders form the foundation for the company's sustainable success in the dynamic
market for renewable energies. CEE Group has a 25-year track record with 104 projects realized in Europe with
2.2 GW(p) installed capacity and 2.8 billion EUR assets under management. (as of November 2024)

Further information: www.cee-group.de/en

Target returns do not indicate any guarantee of return; past performance is not a reliable indicator of future
performance.

The information provided in relation to the Fund(s) has been prepared solely for general information purposes.
It does not constitute any form of investment brokerage or investment advice, legal or tax advice, nor any
offer, recommendation or solicitation to buy or sell units in the Fund. The sole basis for the purchase of shares
in the fund is the conclusion of a subscription agreement and all of the fund's sales documents mentioned
therein. CEE does not assume any representation, warranty or liability for the accuracy, reliability, timeliness or
completeness of the information contained herein. Information regarding future returns does not imply a
promise of return. Past performance and forecasts of future performance are no guarantee of actual future
performance. The information on financial information contained herein and the opinions expressed are valid
at the time of publication and are subject to change. Investing in closed-end alternative investment funds
involves risks. The detailed risk information can be found in the current sales documents.

For questions and further information:
Johannes Braun
PB3C GmbH
T. +49 89 242 08 65 - 36 | CEE-Group@pb3c.com