Nordex to deliver wind turbines to Øyfjellet

Hässleholm, Sweden, March, 24^th, 2020

Øyfjellet Wind AS has signed a turbine supply agreement with Nordex Group for the 400 MW project Øyfjellet located in Vefsn municipality in Norway. The wind farm will comprise 72 Nordex N149, 5,x MW wind turbines.

The Øyfjellet project has been developed by Eolus and is owned by a German investor. During 2019 Eolus and the investor signed agreements regarding the sale of all shares in the project company that holds all the rights to develop, construct and operate the wind farm (made public by press releases on July 12^th, 2019 and December 20^th, 2019). The parties did also sign a construction management agreement by which Eolus will manage the construction of the wind farm. Eolus has also been entrusted to provide technical, operational and administrative services during fifteen years to the wind farm to maximize outcome and production from the facility. The construction of the wind farm has begun. When completed the facility will provide Alcoa Norways plant in nearby Mosjøen with clean and renewable electricity under a 15-year PPA.

The turbine supply agreement with the Nordex Group is for installation of 72 wind turbines of the N149 5,x MW model with a hubheight of 105 meters and a total installed capacity of 400 MW. In addition, a 20-year Premium Service contract with options for extension has been signed.

"We are looking forward to cooperating with Nordex for the construction and operation of one of the most interesting wind power projects in Europe. Nordex flexible technology and experience from challenging Nordic conditions have been key success factors in our evaluation to find the best match for our 400 MW project. Together with Nordex and the investor we will supply the local industry and community with renewable electricity for decades says Per Witalisson, CEO of Eolus.

-With Øyfjellet being such a large and prestigious project, we are delighted that our new customer, Eolus Vind, and the project owner, have decided to select the Nordex Group and, in particular the N149/5.X turbines. Øyfjellet will be another lighthouse project for the European energy transition, employing our Delta4000 technology and will once again demonstrate how economically onshore wind energy can deliver clean electricity close to consumers' needs says Patxi Landa, CSO of the Nordex Group.

For further information contact:

Per Witalisson, CEO, +46 10 199 88 02
Johan Hammarqvist, head of communications, +46 10 199 88 10

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 as well as the United States to both local and international investors. Founded in 1990, Eolus has constructed 615 wind turbines with a capacity over 1 200 MW. Eolus has signed contracts for about 1 250 MW of asset management services of which some 690 MW is in operation.

Eolus Vind AB has about 21 000 shareholders. Eolus shares are listed at Nasdaq Stockholm.

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

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• 200324 Press release Nordex to deliver wind turbines to Øyfjellet