1. Gunnar Groebler 16 September 2014 Confidentiality - Medium (C2) BU Renewables achieved many successes in 2014 … …despite a challenging environment.

2. LEC Management  2020 LEC targets agreed with the business  Implementation Plan kicked off LEC Management  2020 LEC targets agreed with the business  Implementation Plan kicked off Our successes in 2014 Strategy  Strategy approved in BU Review Meeting:  Capital Recycling to finance new projects  LEC reduction, efficient operations & project management improvement  Strengthen HR and Safety Strategy  Strategy approved in BU Review Meeting:  Capital Recycling to finance new projects  LEC reduction, efficient operations & project management improvement  Strengthen HR and Safety Set-up of BU Renewables  New BU set-up from January 2014 onwards  New teams and processes established  New governance model for investment decisions Set-up of BU Renewables  New BU set-up from January 2014 onwards  New teams and processes established  New governance model for investment decisions BD SEP BD Production BU Renewables BU Renewables Management Conference | 16 September 2014 2 Confidentiality – Medium (C2)

3. Our successes in 2014 Project Development (continued)  Forward plan for EOWDC  Extension plans for Clash/PyC and Edinbane  Wieringermeer - EIA & new zoning plan submitted, most critical permits ready for submittal, stakeholder panel started (novelty in NL) Project Development (continued)  Forward plan for EOWDC  Extension plans for Clash/PyC and Edinbane  Wieringermeer - EIA & new zoning plan submitted, most critical permits ready for submittal, stakeholder panel started (novelty in NL) Project Development (continued)  Forst Briesnig – Permit approval  Permit application handed in for Duben  Sites secured in Göttingen  Completion of Llanbadarn Ffyndd Public Inquiry Project Development (continued)  Forst Briesnig – Permit approval  Permit application handed in for Duben  Sites secured in Göttingen  Completion of Llanbadarn Ffyndd Public Inquiry Project Development  Planning consent granted for EA ONE and Aultmore  Re-working of East Anglia MOU  Ray - close to TG 2 & Project RM (NATS) 6 m₤  Nature permit for Slufterdam now irrevocable Project Development  Planning consent granted for EA ONE and Aultmore  Re-working of East Anglia MOU  Ray - close to TG 2 & Project RM (NATS) 6 m₤  Nature permit for Slufterdam now irrevocable BU Renewables Management Conference | 16 September 2014 3 Confidentiality – Medium (C2)

4. Dan Tysk  All wind turbines erected since April 2014  Cabling and termination work completed  Substation able to supply electricity to all turbines  Project return back to level promised at FID Dan Tysk  All wind turbines erected since April 2014  Cabling and termination work completed  Substation able to supply electricity to all turbines  Project return back to level promised at FID Our successes in 2014 Clashindarroch  11 WTGs erected, 6 WTGs pre-commissioned  Internal H&S audit score of 2.9 (2 nd best in VF)  Over 100,000 man hours without a reportable incident or LTI (end of July 2014) Clashindarroch  11 WTGs erected, 6 WTGs pre-commissioned  Internal H&S audit score of 2.9 (2 nd best in VF)  Over 100,000 man hours without a reportable incident or LTI (end of July 2014) Pen y Cymoedd  Civil and electrical works onsite started on schedule  Internal H&S Audit Score of 3.5 (highest score of any Vattenfall construction site to date)  1 of 3 planned outages on 400kV National Grid infrastructure to secure the project timeline executed Pen y Cymoedd  Civil and electrical works onsite started on schedule  Internal H&S Audit Score of 3.5 (highest score of any Vattenfall construction site to date)  1 of 3 planned outages on 400kV National Grid infrastructure to secure the project timeline executed BU Renewables Management Conference | 16 September 2014 4 Confidentiality – Medium (C2)

5. Our successes in 2014 Sandbank  FID taken to build 288 MW offshore wind park, CAPEX 1,200 m€ in total  Stadtwerke München as 49% partner; indication for Vattenfall’s good partnering capabilities  High returns, robust planning and > 10% contingency Sandbank  FID taken to build 288 MW offshore wind park, CAPEX 1,200 m€ in total  Stadtwerke München as 49% partner; indication for Vattenfall’s good partnering capabilities  High returns, robust planning and > 10% contingency Thanet OFTO sale  Agreement reached with the purchaser Balfour Beatty  After approval from banks and authorities, transaction will be closed before end of year  98% availability: every percent adds 1.5 m€ EBIT Thanet OFTO sale  Agreement reached with the purchaser Balfour Beatty  After approval from banks and authorities, transaction will be closed before end of year  98% availability: every percent adds 1.5 m€ EBIT Kentish Flats Extension  Overall project remains on schedule and budget.  Foundation design completed and certified.  Construction readiness on track to commence preliminary offshore works in October.  Still working to further optimise the project delivery. Kentish Flats Extension  Overall project remains on schedule and budget.  Foundation design completed and certified.  Construction readiness on track to commence preliminary offshore works in October.  Still working to further optimise the project delivery. BU Renewables Management Conference | 16 September 2014 5 Confidentiality – Medium (C2)

6. Generation  Framework agreements Siemens (signed) / Vestas (under discussion)  Improved performance (Senvion)  Reductions in O&M spending Generation  Framework agreements Siemens (signed) / Vestas (under discussion)  Improved performance (Senvion)  Reductions in O&M spending Our successes in 2014 North Sea Wind (formerly ‘Egmond aan Zee’)  We took over operational responsibility from Shell on 1 September  Possible synergies with O&M at KF & Thanet North Sea Wind (formerly ‘Egmond aan Zee’)  We took over operational responsibility from Shell on 1 September  Possible synergies with O&M at KF & Thanet Ormonde  Good cooperation between different departments in BU Renewables  End of warranty claim agreed with Senvion (~60 m€) Ormonde  Good cooperation between different departments in BU Renewables  End of warranty claim agreed with Senvion (~60 m€) BU Renewables Management Conference | 16 September 2014 6 Confidentiality – Medium (C2)

7. Business Development  Recalibration of project portfolio almost completed, management challenge met  Idea competition generated 40 new ideas  Reorientation with focus on core business of BU Renewables Business Development  Recalibration of project portfolio almost completed, management challenge met  Idea competition generated 40 new ideas  Reorientation with focus on core business of BU Renewables Our successes in 2014 Health and Safety  Centralized HSS organization started successfully  No LTIs own employees  All time high score H&S assessments PYC & Clashindarroch  Ambition H&S BU-R set: Excellent level in 2016 Health and Safety  Centralized HSS organization started successfully  No LTIs own employees  All time high score H&S assessments PYC & Clashindarroch  Ambition H&S BU-R set: Excellent level in 2016 Human Resources  Outsourcing of HR admin and HR direct in the UK  Establishment of constructive cooperation with workers councils  Visibility and development of Talents  Staffing of key positions Human Resources  Outsourcing of HR admin and HR direct in the UK  Establishment of constructive cooperation with workers councils  Visibility and development of Talents  Staffing of key positions BU Renewables Management Conference | 16 September 2014 7 Confidentiality – Medium (C2)

8. BU Renewables has a strong wind project pipeline and is one of the few BUs allowed to grow Implementing capital recycling ensures growth in times of limited cash BU Renewables is composed of strong teams BU Renewables Management Conference | 16 September 2014 8 Confidentiality – Medium (C2)