• Revenue totaled €80.2 million, down 16% compared to the first quarter of 2020, when performance was notably boosted by the exceptionally strong level of revenue recorded by the storage activity in Australia
• Electricity generation came to 1,256 GWh, up 13% year-on-year
• The secured portfolio (1) stood at over 5.2 GW at March 31, 2021
• The total portfolio expanded to 12.7 GW versus 12 GW at end-2020
• The Group is confirming its targets for 2021:

-EBITDA (2) of between €295 million and €325 million with an EBITDA margin3 of around 80%
-capacity in operation or under construction of over 5 GW by year-end

Neoen (ISIN: FR0011675362, Ticker: NEOEN), one of the world’s leading and fastest-growing independent
producers of exclusively renewable energy, is reporting unaudited revenue of €80.2 million in the first
quarter of 2021, down 16% compared to the first quarter of 2020. At constant exchange rates, revenue
dropped 17%.

Xavier Barbaro, Neoen’s Chairman and Chief Executive Officer, commented: “ As expected, our firstquarter revenue declined given the exceptionally strong level of revenue recorded by our storage activity in Australia during the first quarter of 2020. Electricity generation increased by 13% reflecting the steady expansion in our capacity in operation. In the first quarter, Neoen unveiled its new roadmap for 2025 andour target of over 10 GW of capacity in operation or under construction by the end of 2025. We are also very proud of our successful €600 million rights issue, marked both by the support of our historical shareholders and by the arrival of new shareholders in our share capital. The capital raised as part of this transaction will enable us to fund the first cycle of our 2021-2025 investment plan. Today we are reiterating all our targets for 2021 and the medium term.”