OX2 sells 115 MW wind farm Ånglarna in Sweden for 2.7 billion SEK

OX2 has sold the 115 MW wind farm Ånglarna in Sweden to a European utility for 2.7 billion SEK*. The sale will be recorded in the third quarter.

The Ånglarna wind farm will consist of 18 turbines and be situated in the county of Falun in Sweden. OX2 acquired the project rights in May 2019 and the project was fully permitted in February this year. Construction will start in the fourth quarter of 2023 and commissioning is planned for the end of 2026. The annual production from the wind farm is estimated to about 346 GWh, which corresponds to the annual electricity consumption of 69,000 households.

- We are pleased with selling Ånglarna and look forward to realizing the project. We are also grateful for a constructive cooperation with local stakeholders, which made this project possible. The wind farm will make a valuable addition in price area 3, where there is a great demand for more emissions-free electricity production. The sale process has also proved that there is a lot of interest among investors for this kind of renewable energy project, says Paul Stormoen, CEO, OX2.

Once commissioned, OX2 will be responsible for the technical and commercial management of the project, optimizing the production and supervising its operations under a 15-year agreement.

*EUR/SEK exchange rate 11.60

For further information, please contact:

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Henrik Vikström

Investor Relations Director

+46 70 952 80 06

ir@ox2.com

Edvard Lind

Media Relations

+46 72 727 11 17

press@ox2.com

About OX2 AB (publ)

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OX2 develops, constructs, and sells renewable energy solutions at scale. OX2 also offer management of wind- and solar farms after completion. OX2’s project development portfolio consists of in-house developed as well as acquired projects in onshore and offshore wind, solar, and energy storage, in various phases of development. The company is also active in developing projects based on other renewable energy technologies, such as hydrogen. OX2 is operating on eleven markets in Europe: Sweden, Finland, Estonia, Lithuania, Poland, Romania, France, Spain, Italy, Greece, and Åland. Since 2023 OX2 is also operating in Australia. Sales in 2022 was about 7.6 billion SEK. The company has about 400 employees and is headquartered in Stockholm, Sweden. OX2 is listed on Nasdaq Stockholm since 2022. www.ox2.com

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OX2 sells 115 MW wind farm Ånglarna in Sweden for 2.7 billion SEK