7C Solarparken AG: Operational update

Bayreuth (pta011/28.02.2025/09:00 UTC+1)

Changes in the Management and Supervisory Board

The current Head of O&M (CTO), Mr. Philippe Cornelis (58), has been appointed to the Management Board of 7C SOLARPARKEN AG, as from February 17, 2025. Mr. Cornelis is a highly skilled specialist in electrical and electronic systems, who oversaw and optimized robotic processes and managed electrical installations at General Motors Europe for 23 years before joining 7C Solarparken in 2011. Since 2011, Mr. Cornelis heads the O&M and construction activity within 7C Solarparken. Mr. Cornelis's objective is to prepare the company for a next level at the operational performance level. 7C Solarparken owns and operates different installations which have been built before 2010 using "first generation" components. These parks certainly require a higher level of maintenance, but their lower efficiency can – in some cases – be doubled upon Re-Powering initiatives. The company is therefore preparing itself to successfully rolling out a Re-Powering scheme for those parks facing an expiration of the feed-in tariff within the next five years. Simultaneously, Mr. Cornelis has taken up the challenge to build-out an in-house O&M team being able to handle the entire portfolio of the group. Mr. Philippe Cornelis has Belgian citizenship.

Furthermore, the group also welcomed Mrs. Andrea Meyer (44) as court-appointed Member of the Supervisory Board in January 2025. Mrs. Meyer holds a Master in Business Administration from Ansbach University of Applied Sciences. Furthermore Mrs. Meyer is a licensed auditor and tax accountant. She was an audit manager at Deloitte Wirtschaftsprüfungs-gesellschaft in Nuremberg and a tax consultant, auditor, authorized signatory and finally a partner at Baker Tilly Wirtschaftsprüfungs-gesellschaft Nuremberg. She currently is working as a commercial manager at Stadtwerke Ansbach. Mrs. Andrea Meyer has German citizenship. She is succeeding Mr. Paul De fauw who unfortunately passed away last year.

Acquisition of the PV park Zerre V, Disposal of 750 KWP rooftop plant in Nettgau

During the last week, the company purchased an existing PV park "Zerre V" with a capacity of exactly 1 MWp. The installation has been built in 2010 and enjoys a tariff of EUR 284/MWh. Interestingly, the asset belongs to a group of 7 individual installations of which Zerre IV (1 MWp) and Zerre VII (1.5 MWp) are already included into the IPP Portfolio of 7C Solarparken since their commissioning. Furthermore, 7C Solarparken is already the owner of the PV Estate for the entire plot of land. Due to unsolved technical problems, the group disposed a small 750 KWP plant in Nettgau through a sale-back to the developer

Start of Construction of 3.7 MWP extension in the Belgian plant "Nedcargo"

The group is starting the extension of its existing 1 MWp rooftop installation at the premises of Nedcargo in Willebroek. The additional capacity of 3.7 MWp, with panels sourced from Trina Solar, is expected to come online before summer. The power will be sold to the local off-taker with the excess being injected into the grid.

Re-Financing of the Schuldschein

At the end of February resp. March 2025, 7C Solarparken AG will redeem its outstanding promissory notes of EUR 10 Mio and EUR 11.5 Mio. In the meantime, the group has been successful in securing new corporate loans which cover the entirety of the redemption. In line with its strategic comments, management will now enter discussions with banks on a potential execution of another share buy-back program.

Steven De Proost: CEO of 7C Solarparken: "I am very happy, that the Company appoints a member of the Management Board from its own organization with Mr. Cornelis, who is very familiar with the dynamic of the heavily changing PV markets. His broader responsibility will enable the current Management Board members to fully prioritize the financial and strategic future of the group. We would like to reiterate that we advance well on realizing the group's Focus for 2025 which is on i) protecting the existing cash flows through amongst others minimizing the effects of negative power prices via swaps and curtailments, ii) opportunistic growth as illustrated by today's announcement in Zerre V and Nedcargo and iii) share buy-backs once the Schuldschein has been paid back".

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Emitter:	7C Solarparken AG An der Feuerwache 15 95445 Bayreuth Germany
Contact Person:	Koen Boriau
Phone:	+49 921 230557-77
E-Mail:	info@solarparken.com
Website:	www.solarparken.com
ISIN(s):	DE000A11QW68 (Share)
Stock Exchange(s):	Regulated Market in Frankfurt; Free Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate
Other Stock Exchanges:	London