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Page 14 of the report stated an incorrect record date for the Annual General Meeting’s resolved dividend payment of 1.50 SEK per share. The correct record date is November 24, 2025 and the correct ex-dividend date is November 21, 2025.

Positioning for Value-Creating Stay Power

1 July – 30 September 2025

Net sales amounted to 200 (24) MSEK.
EBIT amounted to -87 (-94) MSEK. Profit before tax amounted to -124 (-87) MSEK.
Net profit amounted to -96 (-79) MSEK.
Earnings per share before and after dilution equaled -3.87 (-3.16) SEK.
At the end of the period, Eolus had 1,186 (967) MW under asset management.

1 January – 30 September 2025

Net sales amounted to 2,538 (123) MSEK
EBIT amounted to 3 (-149) MSEK. Profit before tax amounted to -54 (-161) MSEK.
Net profit amounted to -44 (-161) MSEK.
Earnings per share, before and after dilution equaled -1.78 (-6.46) SEK.
At the end of the period, Eolus had 1,186 (967) MW under asset management.

Significant events during the period

On July 2, Eolus’s green bonds were admitted to trading on Nasdaq Stockholm.
On July 25, Eolus and Dala Vind sold the jointly developed onshore wind project Fageråsen to OX2.
On 29 September, Eolus and a counterparty entered into a 15-year power purchase agreement (“PPA”) for a significant share of the production at the onshore wind power projects Fågelås, Dållebo and Boarp.

Significant events after the balance sheet date

On 15 October, the Nomination Committee for Eolus AB was appointed. The Nomination Committee for the 2026 Annual General Meeting consists of Martin Lundin, Hans-Göran Stennert, Hans Johansson and Marie Grönborg.

Comment from CEO Per Witalisson

It is thanks to the courage and entrepreneurship of our employees that Eolus has built up a project portfolio with a size and risk diversification that grants us stay power.

Invitation to the report presentation
At 10:00 a.m. today a webcast with teleconference will be held, where the report is presented by CEO Per Witalisson and CFO Catharina Persson. The presentation will be held in Swedish with opportunity to ask questions in English or Swedish.

If you wish to participate via webcast, please use the link below:
https://eolus.events.inderes.com/q3-report-2025/register

If you wish to participate via teleconference please register on the link below: https://conference.inderes.com/teleconference/?id=5009679

Financial Summary

MSEK	Unit	Q3 2025	Q3 2024	9 months 2025	9 months 2024	12 months Oct-Sep	Full-year 2024
Net sales	MSEK	200	24	2,538	123	3,267	851
Operating profit	MSEK	-87	-94	3	-149	440	288
Profit before tax	MSEK	-124	-87	-54	-161	380	272
Net profit	MSEK	-96	-79	-44	-161	271	155
Earnings per share before and after dilution*	SEK	-3.87	-3.16	-1.78	-6.46	10.92	6.23

Equity per share*	SEK	59.05	52.39	59.05	52.39	59.05	66.90
Cashflow from operating activities	MSEK	-266	-1,042	819	-1,540	562	-1,796
Total assets	MSEK	3,039	3,989	3,039	3,989	3,039	4,562
Net debt – /net cash +*	MSEK	-942	-1,415	-942	-1,415	-942	-1,788

Order backlog	MSEK	348	832	348	832	348	180
Project under construction	MW	470	456	470	456	470	456
Taken into operation and handed over to customer	MW	–	–	260	–	260	–
Project portfolio	MW	25,363	26,251	25,363	26,251	25,363	25,880
Managed turbines	MW	1,186	967	1,186	967	1,186	967

Equity/assets ratio*	%	51	35	51	35	51	38
Return on equity after tax*	%	20	neg	20	neg	20	10

* for definitions of alternative performance measures please see page 32 of the report.

About Eolus
Eolus is a leading developer of innovative and customized renewable energy solutions. We offer attractive and sustainable investments in the Nordics, the Baltics, Poland and the USA. From development of greenfield projects to construction and operation of renewable energy assets, we are part of the entire value chain. For over three decades we have worked for a future where everyone can lead a fulfilling, yet sustainable life. Today, our project portfolio includes more than 25 GW wind, solar and energy storage projects. Eolus – shaping the future of renewable energy.

Eolus’s Class B share is listed on Nasdaq Stockholm. www.eolus.com

Eolus AB

eolus-ab-interim-report-q3-2025 corrected

The Blekinge Offshore wind farm, located within the municipalities of Karlshamn and Sölvesborg, comprises up to 70 wind turbines with a production of approximately 4.3 TWh of renewable electricity per year. This represents a significant addition for southern Sweden and the Blekinge Region, which sees offshore wind power as an opportunity to increase self-sufficiency in electricity at competitive prices.

“The technical conditions are incredibly good with shallow waters and proximity to the power grid, which allows us to build with existing technology. This makes Blekinge Offshore an optimal project for those who want more electricity production and lower electricity prices in southern Sweden,” says Per Witalisson, CEO of Eolus.

Blekinge Offshore is owned by Eolus and the local company Vingkraft, which initiated the project.

“We are now submitting a completely revised application to build Blekinge Offshore. The project is important for the future of the region, and we can build it without compromising the living creatures and valuable environments that exist in the sea,” says Anders Nilsson, CEO of Blekinge Offshore and initiator of the project.

Blekinge Offshore is located at its closest about eleven kilometers from the mainland, and about five kilometers east of Hanö, in an area identified as suitable for energy production in the coastal plans of Blekinge’s coastal municipalities. In 2016, the Swedish government rejected an earlier application in the area, citing the interests of the Swedish Armed Forces. The objections then concerned that the previous project area encroached on parts of a marine training area and that the distance between the wind turbines was too small. Since 2021, a new project has been developed with 40 percent less area, 90 percent fewer turbines, and a quadrupled distance – which means two kilometers – between them. Further measures to accommodate the Swedish Armed Forces have been developed in regional collaboration.

“Together with the Blekinge Region and the municipalities of Kristianstad and Simrishamn, we have opened up to offer the Swedish Armed Forces an extended area for marine exercises in Hanö Bay. Our proposal for an expansion of 770 square kilometers corresponds to an area five times larger than Blekinge Offshore. From the perspective of the coastal municipalities and the region, we are very eager for the project to proceed,” says Birgit Birgersson-Brorsson (S), Chair of the Municipal Council in Sölvesborg, and Kith Mårtensson (M), Vice Chair of the Municipal Council in Sölvesborg.

Johan Dalén is the regional director of the Confederation of Swedish Enterprise in Skåne and Blekinge, and for him, it has become increasingly clear that southern Sweden must create opportunities for more electricity production.

“We must stop putting different types of energy against each other and instead embrace every kWh that we can produce ourselves in electricity price area 4 – regardless of how it is produced. In this way, we create jobs instead of risking losing investments and establishments due to uncertainty in electricity supply and higher electricity prices than surrounding regions,” says Johan Dalén.

During a press conference in Nogersund on Monday morning, local fishermen were also present.

“Blekinge Offshore does not encroach on fishing. Rather, it becomes a very good nursery habitat for fish that like to hide by the foundations,” says Lennart Arvidsson, a local fisherman.”

The application for an environmental permit has now been submitted to the Land and Environment Court in Växjö. An application to conduct investigations on the seabed and lay underwater cables has also been sent to the Ministry of Climate and Enterprise. The applications, including an environmental impact assessment with accompanying investigations, will be sent out for consultation to concerned stakeholders before a decision on the permit is made.

About Blekinge Offshore:
Number of turbines: max. 70
Installed effect: 1000 MW
Distance from shore: approx. 11 km (5 km to Hanö)
Height: max. 330 meters to tip of the blade
Foundations: Gravity-based bottom-fixed foundations
Possible start of construction: 2027

ABOUT EOLUS
Eolus is a leading developer of innovative and customized renewable energy solutions. We offer attractive and sustainable investments in the Nordics, the Baltics, Poland and the USA. From development of green field projects to construction and operation of renewable energy assets, we are part of the entire value chain. For over three decades we have worked for a future where everyone can lead a fulfilling, yet sustainable life. Today, our project portfolio includes more than 26 GW wind, solar and energy storage projects. Eolus – shaping the future of renewable energy.

Eolus’s Class B share is listed on Nasdaq Stockholm. www.eolus.com