OX2’s sale of 49 percent of Finnish offshore wind projects to Ingka Investments is completed

June 20, 2023, 16:10

Non-regulatory

On May 12, OX2 announced that an agreement had been signed with Ingka Investments for the sale of 49 percent of three offshore wind projects in Finland, with a potential capacity of about 6,000 MW. The deal was subject to customary competition merger filing approval. Merger clearance has now been obtained and the transaction has been closed. The transaction is expected to affect OX2’s net sales and operating profit by about 390 MSEK* and 300 MSEK* respectively in the second quarter 2023. Following successful permitting, and if both parties at that point in time agree to continue development, OX2 will receive a pre-agreed price equivalent of 0.8 MSEK* per MW for the 49 percent of the planned capacity.

*EUR/SEK exchange rate 11.40

For further information, please contact:

Henrik Vikström, Investor Relations Director OX2
+46 709 528 006
henrik.vikstrom@ox2.com

Edvard Lind
OX2 Communication
Tel. +46 72 727 11 17
press@ox2.com

About OX2 AB (publ)

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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