Introduction to Flotation Energy May 2019 Commercial in

Introduction to Flotation Energy May 2019 Commercial in Confidence

Flotation Energy plc New offshore wind venture Mastering in floating and fixed offshore wind Principals have distinguished track record in: • • • Offshore wind development Project delivery Government and policy Objectives Develop a consented portfolio of 3 -5 GW in 3 -5 years • • • Develop pipeline of opportunities Projects generating within 10 years Own net interests of 1 GW within 5 years Establish Joint Ventures with major partners in the UK and internationally • Maximise value through development process

Floating Wind has come of age • Technology on cusp of commerciality: Demonstration and pilot programmes are occurring globally UK, France, Japan Next steps are commercial • Floating wind removes key constraints and provides economic advantages: Water depth/soil conditions Onshore assembly and commissioning Less/simpler/cheaper offshore activities Simplifies major overhauls Creates new commercial opportunities • Floating wind opens up vast areas of sea/ocean for development • Floating wind scales efficiently Windfloat 1 with 2 MW turbine 1300 tonnes Windfloat KIN 02 with 9. 5 MW turbine 1900 tonnes

Floating Wind Challenges • Floating wind benefits from technical and cost progress in fixed structure wind • Floating has significant opportunities: • Less offshore activities • No requirement for HLV’s • More potential acreage • Floating has some challenges • Substructure design • Assembly • Moorings • By the end of next decade the norm in offshore wind will be floating solutions

Innovative Substructure Designs Reduces steel weights and facilitates lean manufacture Demonstrator designs will be simplified, made lighter and more suited to mass manufacture. Flotation is technology neutral allowing the market to innovate and bring the lowest cost solution to us. Newer designs are simpler and are componentized to reduce manufacture costs.

Substructure Size Jacket shape: 20 to 25 m square or triangle Area 625 sq m Semi sub shape: 70 m triangle Area 2450 sq m

The assembly opportunity • Assess components in global market • Easility transportable • Cost effective • Build in the UK at development hubs • Assemble structure • Launch • Install turbine • Fully commission prior to deparyure • Scotland has ideal facilities covering all of country • Nigg • Hunterston • Domestic building and international exportable skills in assembly management

Panel • Una Brosnan Atkins • Paul Boath Independent • Malcolm Bowie Independent • Albert Inch Kinetic Machinery • Alan West W 3 G

W 3 G Marine – Marine and Subsea Projects Alan West – awest@w 3 gmarine. co. uk

Albert Insch KRS Ltd. Albert Insch is the Managing Director of Kinetic Renewable Services (KRS) Limited. KRS is an Operations and Maintenance company in its second year of trading and is already working alongside some of the largest wind turbine manufacturers in the world. Albert is a time served Electrical Engineer starting in the wind industry in 2007, working for Vestas and progressing through the company over a period of 8 years from Service Technician to Authorising Engineer. After his time at Vestas, Albert was employed as lead technician and then Project Manager with a UK service company overseeing various projects whilst developing and training other service technicians on site and upskilling the service team. One of KRS’ first projects was the Kincardine Offshore WF, where Alberts role was to support the client in the construction, placement and commissioning of the first floating turbine and to help a non UKbased O&M company establish a presence within the UK renewables market. Albert was appointed as “Service Supervisor’ on the project and the turbine was built on the newly designed floating platform at Dundee Port. Once offshore, Albert helped to develop the clients technicians to operate within the UK framework & standards and he was directly involved in servicing the turbine and assisting with troubleshooting and other operational issues. KRS also assisted with the sourcing and storage of some critical components and services during the project. Albert is a highly-skilled and experienced wind turbine technician working both onshore and offshore, troubleshooting and servicing wind turbines on construction projects and various other maintenance programmes.