Berg Holding S.A. w restrukturyzacji: Aktualizacja planowanej strategia działalności Farmy Fotowoltaiki SA (2021-02-25)

The Management Board of Berg Holding S.A. with its registered seat in Katowice [Company, Issuer] in reference to the ESPI current report no. 45/2020 informs about the update of the planned strategy of the Issuer's subsidiary - Farmy Fotowoltaiki S.A. [company, issuer] including a new time perspective.

The strategy of Photovoltaic Farm for 2021-2023 assumes:

1. raising external capital from PLN 4,000,000 to PLN 10,000,000 in 2021 to finance current operations and implement planned investments,
2. conducting a crowdfunding campaign in 2021 and acquiring PLN 4,050,000 from investors
3. carrying out the first assembly works in 2021 and launching the first farm in the village of Nagoszyn,
4. investment in 2021 in an entity operating on the photovoltaic market by purchasing shares at the level of 5%-45%,
5. implementation of projects in the years 2021-2022 with a capacity of 1MW to 10MW,
6. debut of the Photovoltaic Farm shares on the NewConnect market [Q4/2021 - Q1/2022],
7. implementation of projects with a capacity of up to 40 MW in the years 2022-2023.

In addition, the Subsidiary, as part of its planned strategy, assumes:

1. development of the execution and distribution network through establishment of cooperation with further partners and design and installation companies,
2. development of technical, commercial and research facilities by building its own team of development of technical, commercial and research facilities by building our own team of subcontracting companies, in the system of B2B relations,
3. building a database of investors interested in purchasing photovoltaic farms or investing in the photovoltaic industry,
4. educational activities to promote environmental technologies, including cooperation with entities active in this area and participation and partnership in events promoting the use of renewable energy sources.

The subsidiary plans to conduct business based on the following cooperation models:

1. development of projects under 50/50 ownership with Columbus Energy SA through the joint venture Columbus&Farmy Sp. z o.o. [Photovoltaic Farms will fully consolidate all assets and profits from all SPVs],
2. implementation of projects in cooperation with an external partner, based on the principles of SPV in the ownership based on the 51/49 model, where on the part of the partner remains the contribution in the form of land or financing at the level of 49%,
3. consolidation of the market through the purchase of shares in entities operating in the photovoltaic industry, including the acquisition of entities that have completed farms or approved projects for these investments at any stage of advancement.

The main assumptions of the presented updated strategy assume that Photovoltaic Farms will achieve sales revenues of approximately PLN 9.7 million per year for the next 15 years.

The Issuer will inform about updates or changes to the information included in this report by way of relevant current reports.