DisCo Performance- An Annual Comparison The DisCos in general, have capitalized the additional energy received from TCN, improving their performance 60 % Collection Efficiency October 2016 – September 2017 Energy billed 18,552 GWh Equivalent to NGN 579.0 billion Collection NGN 344.7 billion Energy received 24,217 GWh 24 % ATC losses 54 % ATC&C losses 9 % 11 % 23 % 65 % Collection Efficiency October 2017 – September 2018 Energy billed 20,600 GWh Equivalent to NGN 650.1 billion Collection NGN 422.5 billion 22 % ATC losses Energy received 26,368 GWh 49 % ATC&C losses Source: DISCOs KPI Report to NERC

DisCo Performance- A Quarterly Comparison Improved performance continued for the 3rd Quarter of 2018, although the energy received has not increased as much as projected. 60 % Collection Efficiency Energy billed 4,620 GWh Equivalent to NGN 147 billion Collection NGN 88.4 billion Third Quarter 2017 Energy received 5,988 GWh 23 % ATC losses 53.6 % ATC&C losses 5 % 9 % 19 % 66 % Collection Efficiency Energy billed 5,015 GWh Equivalent to NGN 158.2 billion Collection NGN 105.1 billion Third Quarter 2018 20 % ATC losses Energy received 6,283 GWh 47 % ATC&C losses Source: DISCOs KPI Report to NERC

Energy Received, Energy Billed and ATC losses (Moving Average) Since July 2016, there has been a gradual rise in both energy received by DisCos and consequently on the energy billed. 2,274 2018S1 2,054 2016S1 2,073 2017S2 2,029 2017S1 1,826 2016S2

Revenue Collection and collection efficiency analysis Although that the retail tariff has not been changed since Feb 2016, the revenue collection has been increased continuously up to N36 billion per month as the average of year 2018. 24 25 29 31 36 56% 58%