www.se.com Schneider Electric 8 2021 Social Impact Report 2.5 Bringing access to green energy in Africa with Energy Access Ventures impact fund (EAV) Schneider Electric initiated and supported Energy Access Ventures (EAV), a fund which manages EUR 75 million to be invested in companies transforming communities across Africa and stimulating economic development through energy access solutions. The fund is jointly backed by Schneider Electric, CDC group (on behalf of the UK Department for International Development, DFID), the European Investment Bank, FMO (Dutch development Bank), FISEA- PROPARCO, OFID, and AFD-FFEM. At the end of 2021, EAV has invested in 15 companies and has exited one. EAV is now entering the seventh year and the independent management team based in Nairobi (Kenya) is now focusing on actuating on value creation in the portfolio, follow-on investments, and driving liquidity events. EAV invests primarily in equity and quasi-equity in start-ups that: • Provide access to affordable, clean, and sustainable energy solutions: − Five invested companies for a total of EUR 15.1 million (Zola Electric in Tanzania, PEGAfrica in Ghana, Nuru in DRC, Zonful Solar Energy in Zimbabwe, ZIZ Energy in Chad) • Provide access to clean productive use energy: − Six invested companies for a total of EUR 22.2 million (ManoCap Energy in Ghana, Candi Solar in South Africa, SolarX in Mali, PayGo Energy, SunCulture, and InspiraFarms in Kenya) • Promote digital and financial inclusion: − Three invested companies for a total of EUR 8.9 million (Mawingu, Solarise Africa, Palgo in Kenya) 2.6 Bringing access to green energy in South and South East Asia with Schneider Electric Energy Access Asia (SEEAA) In recent years, electrification rates in Asia have improved due to strong government policies supporting national electrification. As Asian countries are now approaching universal access to electricity, the focus has been shifting to integrating renewable energy into the energy mix. However, at the micro level, there are still a considerable number of rural areas without access to electricity. Even when access is available, electricity is often not reliable as power grids struggle with load and connectivity issues. Schneider Electric recognizes the gap and opportunities in this region and envisioned the SEEAA impact investing vehicle in 2018 to help the region advance towards SDG 7 “Affordable and Clean Energy”. The vision convinced three other investors to join forces and the SEEAA was officially established in December 2019 with four founding partners investing EUR 20.9 million: Schneider Electric (SEI SAS), the European Development Finance Institution Management Company (EDFI MC), Norwegian Investment Fund for Developing Countries (Norfund), and Amundi Finance et Solidarité (Amundi). With a dedicated Schneider management team based in Singapore, SEEAA invests primarily in equity in start-ups that work toward increasing quality of life and boosting economic development in Asia, thanks to access to affordable, clean, and sustainable energy. The goals of SEEAA are twofold: 1 Increasing access to affordable and reliable energy primarily targets unprivileged communities where last mile energy access is not, or poorly, available. SEEAA aims at creating to social impact for these rural communities especially leveraging productive use of energy. 2 Accelerating the transition of economies to clean and renewable sources and increasing the mix of renewables in total energy consumption. For instance, this can be achieved by investing in companies developing renewable energy assets. As of December 2021, SEEAA had invested in four start-up companies for a total of EUR 2.5 million. Two companies are contributing to Goal 1, both operating in India: Frontier Markets and Oorja Development Solutions, and two are contributing to Goal 2, Freyr Energy and Xurya operating in India and Indonesia respectively. India: a farmer irrigates his crop using water from a solar-powered pump operated by Oorja in Bahraich district, Uttar Pradesh. © Oorja Development Solutions India Private Limited