Eskom Holdings Limited Reg. No. 2002/015527/06 Profit/(loss) after tax R’m (9,708) Embedded derivatives contributed R6,8billion Fair value adjustments R1,7 billion Eskom Holdings Limited Reg. No. 2002/015527/06

Eskom Holdings Limited Reg. No. 2002/015527/06 Interest cover Ratio Aspiration of achieving ratio of 3 Eskom Holdings Limited Reg. No. 2002/015527/06

Eskom Holdings Limited Reg. No. 2002/015527/06 Balance sheet Indicators Debt:equity ratio Cash and cash equivalents Funding vs capex Eskom Holdings Limited Reg. No. 2002/015527/06

Eskom Holdings Limited Reg. No. 2002/015527/06 Debt:equity (incl long-term provisions) Ratio Extensive borrowing: Balance sheet not prepared in advance for continued borrowings Eskom Holdings Limited Reg. No. 2002/015527/06

Eskom Holdings Limited Reg. No. 2002/015527/06 Cash and cash equivalents R’bn Concerted focus on cashflow to improve liquid cash balances Eskom Holdings Limited Reg. No. 2002/015527/06

* Net debt raised and repaid (including government loans) Funding activities vs capital spend R’m * * Net debt raised and repaid (including government loans) Eskom Holdings Limited Reg. No. 2002/015527/06

Eskom owned by government Ratings are correlated Credit ratings Entity Rating Moody’s S&P Fitch Eskom Foreign currency Baa2 *BBB+ - ZAR Long-term **AA+ AAA Outlook Negative *Watch Negative **Watch Developing Stable South Africa A3 BBB+ **AAA *Negative ** Stable Eskom owned by government Ratings are correlated Eskom Holdings Limited Reg. No. 2002/015527/06

Significant improvement - plant and network availability Technical performance Generation Transmission Unplanned capability loss factor Number of interruptions % Number Significant improvement - plant and network availability Eskom Holdings Limited Reg. No. 2002/015527/06

Eskom Holdings Limited Reg. No. 2002/015527/06 Safety performance Fatalities during the year Employees Contractors Public * Culture of zero harm Eskom Holdings Limited Reg. No. 2002/015527/06

Eskom Holdings Limited Reg. No. 2002/015527/06 Highlights for the year 1 Challenges requiring ongoing focus 2 Business Results for 2008/9 3 Outlook for 2009/10 4 Building for the future 5 Conclusion 6 Eskom Holdings Limited Reg. No. 2002/015527/06

Eskom Holdings Limited Reg. No. 2002/015527/06 Outlook for 2009/10 At least break even at operating income level Living within our means, targeted savings Financial Eskom Holdings Limited Reg. No. 2002/015527/06

Eskom Holdings Limited Reg. No. 2002/015527/06 Outlook for 2009/10 Anticipate increase in demand as economy strengthens Successful Confed Cup a good dry run for 2010 FIFA World Cup South Africa TM Confident of adequate supply for 2010 FIFA World Cup South Africa TM Improved plant performance, maintenance and coal stock piles Expensive plant utilisation to ensure reliability of supply Continued focus on energy efficiency to improve reserve margin Security of supply Eskom Holdings Limited Reg. No. 2002/015527/06

Targeted reductions to ensure we live within our means Targeted reductions for 2009/10 Targeted reductions to ensure we live within our means Eskom Holdings Limited Reg. No. 2002/015527/06

Eskom Holdings Limited Reg. No. 2002/015527/06 Highlights for the year 1 Challenges requiring ongoing focus 2 Business Results for 2008/9 3 Outlook for 2009/10 4 Building for the future 5 Conclusion 6 Eskom Holdings Limited Reg. No. 2002/015527/06

Eskom Holdings Limited Reg. No. 2002/015527/06 Building for the future History Role of Eskom in SA context Capital expansion programme Climate change Independent power producers Eskom Holdings Limited Reg. No. 2002/015527/06

History

Back to the future Dr Hendrik Johannes van der Bijl, Eskom Holdings Limited Reg. No. 2002/015527/06

Eskom Holdings Limited Reg. No. 2002/015527/06 History Electricity Act of 1922 Eskom established March 1923 Electricity Act of 1958 Capital Development Fund in 1972 70’s to early 80’s the major build programme Excess capacity until 2005 White Paper of 1998 Eskom Holdings Limited Reg. No. 2002/015527/06