Amsterdam/Oslo - 31 March 2023 - MPC Energy Solutions (MPCES) published its
annual report and financial statements for 2022 today. As shared by the company
during the Capital Markets Day it hosted on Wednesday, MPCES reported USD 3.6
million in revenues and USD 2.1 million project-level earnings before interest,
taxes, depreciation and amortization (EBITDA). On the group level, MPCES
recorded an adjusted operating profit (adjusted EBITDA) of USD 0.2 million
(including USD 2.4 million gains from bargain purchases). The reported net loss
for the financial year 2022 was USD 5.6 million as management continued to
prepare the organization for the planned growth in 2023 and beyond. MPCES ended
the year with total assets of USD 129 million, of which USD 24.2 million were
cash and cash equivalents. The consolidated equity ratio of the group as of 31
December 2022 was 58%.

For the current financial year 2023, management projects proportionate revenues
to exceed USD 10 million, with proportionate operating profits on project level
expected to grow to around USD 7 million. The projected increase in both
revenues and profits is supported by the progress reported by the company in
recent weeks, with two projects having started operations since January, and
another plant having connected to the power grid last week. In addition, MPCES
anticipates its Colombia joint venture project Planeta Rica to commence
operations in July of 2023, which would increase the number of operating
projects in the company's portfolio to five, combining for a proportionate
installed capacity of 66 MW.

MPCES also published its Sustainability Report this morning. Both reports are
attached and also available on the company's website: Reports (https://www.mpc
-energysolutions.com/investors/reports-presentations)

                                 2022     Q4     Q3      Q2      Q1    2021
Energy output (GWh,              28.1    5.7    7.5     9.4     5.5       -
proportionate, as invoiced)
Average revenue per MWh (USD,      98     98     98      99      96       -
power-producing assets only)

Revenue (proportionate)           3.6    1.1    1.0     1.0     0.5       -
EBITDA (proportionate,            2.1    0.5    0.5     0.8     0.3       -
project level)
EBITDA (adjusted,                 0.2  (0.4)  (0.7)     2.1   (0.8)   (2.9)
consolidated, group level)
EBITDA (consolidated, group     (2.2)  (0.4)  (0.7)   (0.3)   (0.8)   (2.9)
level)
Net income (consolidated,       (5.6)  (2.1)  (1.7)   (0.5)   (1.3)   (2.7)
group level)
Earnings per share (EPS,       (0.25)                                (0.12)
basic and diluted, in USD)

Total assets                    129.0  129.0  127.2   122.5   125.4    86.1
Equity                           75.3   75.3   77.0    80.3    81.8    82.8
Equity ratio                      58%    58%    61%     66%     65%     96%
Cash and cash equivalents        24.2   24.2   26.1    30.7    42.9    56.9

Cash flow from operations       (6.3)  (0.8)  (2.4)   (0.4)   (2.7)   (3.4)
Cash flow from investing       (38.4)  (2.5)  (5.4)  (11.2)  (19.3)  (25.6)
activities
Cash flow from financing         12.3    1.5    3.3   (1.4)     8.9    85.9
activities
FX differences                  (0.4)  (0.3)    0.0     0.7   (0.8)   (0.3)
Total cash flow for the year   (32.7)  (2.1)  (4.6)  (12.3)  (13.9)    56.5

- ENDS -

About MPC Energy Solutions
MPC Energy Solutions ("MPCES") is a global provider of sustainable energy and
primarily focuses on low-carbon energy infrastructure, including solar and wind
farms, and other hybrid and energy efficiency solutions. The Company
participates in the full project lifecycle of renewable solutions, from early
-stage development through construction and operation. More details at www.mpc
-energysolutions.com

Media contacts
MPC Energy Solutions N.V.

Investor Relations & Public Relations
Email: ir@mpc-energysolutions.com

Norway

Jo Christian Lund-Steigedal
Corporate Communications AS
Phone: +47 415 08733
Email: jcs@corpcom.no

United Kingdom
Judith Ugwumadu
Montieth & Company
Phone: +44 7774 985705
Email: jugwumadu@montiethco.com

Americas
Perry Goldman
Montieth & Company
Phone: +1 (646) 8643568
Email: pgoldman@montiethco.com