Cox Energy América, S.A.B. de C.V., Reports Second Quarter 2022 Results

Mexico City, July 27^th, 2022. – COX ENERGY AMÉRICA, S.A.B. DE C.V. (“Cox”, “Cox Energy”, “Cox Energy América” o “the Company”) (BIVA/BMV: COXA*), a company dedicated to the development and management of solar photovoltaic renewable energy projects reports its results for the quarter and six-month period ending on June 30^th, 2022. All figures included in this report are in nominal Mexican pesos and are in line with the International Financial Reporting Standards (IFRS).

HIGHLIGHTS

• At the end of the second quarter of 2022, Cox Energy had an active portfolio, at different development and construction stages, of 1,219 MWp and 1,098 MWp in identified opportunities. The Company’s Strategic Plan for expansion and growth focuses on increasing its presence in Chile, Colombia, and Central America, with over 60.0% of the projects being developed in these regions.

• Consolidated revenues for the first half of 2022 represented mainly by the energy sales and commercialization business in Mexico reached $211.5 million pesos, record breaking growth for the Company.

• During the quarter, Cox Energy Solar S.A. secured a credit line for up to EUR 30,000,000 with Barclays Ireland Bank. With the resources obtained, Cox Energy Solar carried out an intercompany operation to finance Cox Energy America’s S.A.B. de C.V. Strategic Plan.

• As part of the expansion strategy in key Latin American markets, the Company is preparing to participate in the upcoming Energy and Power Tender for the Supply of Final Distribution Service Users in Guatemala and Puerto Rico, respectively.

• During the quarter, Cox Energy reached an agreement with a major local business group in Puerto Rico to begin project management and development operations in the Puerto Rican renewable energy market through a strategic partnership.  

• Last June, the environmental license for the Machalí project in Chile was approved, allowing the construction phase to begin in 2022.

• With the appointment of Raquel Alzaga as Chief Corporate Officer of Cox Energy and Chief Financial Officer for Cox Energy America, the management team keeps growing stronger, following corporate governance best practices. Raquel Alzaga has over 20 years of experience in the industry, and in different countries. Additionally, Javier García Arenas took over as Deputy Chief Executive Officer for the Group.

• During the quarter, the Company continued to make progress in the BME Growth subscription process in Spain to list representative shares of the Company’s share capital. The subscription process is expected to be completed during 3Q22.

MESSAGE FROM THE CEO

José Antonio Hurtado de Mendoza, Chief Executive Officer of Cox Energy América, said: “At Cox Energy we are committed to creating value for our stakeholders through the diversification and expansion of our business in key countries, always seeking operating execution and management differentiation. We are convinced that we have made the right decisions to achieve our goals by building a highly qualified team with proven experience in the industry and focusing on maintaining a solid financial position and the proper administration of available resources”

He added: “We continue to meet the goals established in the Strategic Plan 2021-2025 through our sustainable actions aligned with ESG principles, taking advantage of continuous growth opportunities that allow us to reduce regulatory and macroeconomic risks, and position ourselves as an innovative and disruptive platform that serves as a reference for Latin America and Europe.”

Miranda Newswire – Full Press Release: Download PDF

Contact Details

Enrique González

e.gonzalez@coxenergy.com

Investor Relations

inversores@coxenergyamerica.com

About the Company

Cox Energy América is a photovoltaic renewable solar energy generation company, listed on the Mexican Institutional Stock Exchange (“BIVA”). COX develops, promotes, and operates photovoltaic plants in several Latin American countries, with a presence in Mexico, Chile, Colombia, Guatemala, Central America, and the Caribbean. It has a unique portfolio of projects at different stages of development and has identified opportunities to carry out its activity within a sustainable development framework.

Forward Looking Statements

This document contains certain statements related to the comprehensive overview of Cox Energy América (COX) regarding its activities to the present day, as well as assumptions and information currently available for the Company. The statements contained herein reflect the current views of COX with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause future results, performance or achievements of COX to differ from those expressed or implied by such forward looking statements, including, among others, economic or political changes and global business conditions, risks related to the COVID-19 global pandemic impact, changes in exchange rates, the overall state of the industry, changes in demand for photovoltaic energy, raw material costs, the Company’s ability to execute commercial continuity plans as a result of the COVID-19 pandemic, among others. COX does not intend nor assume any obligation to update the statements presented in this document.