April 24, 2024 

Dear fellow shareholders,

We are pleased to report that 2023 turned out to be another strong year for your company. We saw significant growth in financial performance and added over 700 MW of attributable renewables capacity in 2023. With over 4.7 GW as of today, ACEN is now poised to achieve its original 2025 goal of 5 GW of renewables capacity nearly two years ahead of schedule. Progress towards the new 2030 aspiration of 20 GW has thus continued at a steady pace.

The accelerating shift to a low-carbon future has nurtured several tailwinds for the growth of renewables. Within ACEN, we have a deep development pipeline to take on these opportunities. Equally important, the company has a talented, motivated team to execute and deliver.

I believe that the company is in a strong position to continue its healthy trajectory, and I feel that it is now the right time for me to transition the Chairmanship of the Board and step down as Director.

It has been a privilege to serve on the Board. I would like to thank my fellow directors and all ACEN employees for their active engagement, excellent work, and untiring commitment. I am also grateful to our partners, customers, shareholders, and the rest of our stakeholder community for their trust in ACEN.