1. Secure gas supply for Europe > Henning Kothe, Project Director, Nord Stream AG – Berlin, May 21, 2010

2. Energy infrastructure for Europe > Nord Stream: >TWO PARALLEL OFFSHORE PIPELINES of 1,224 km (transport capacity 55 bcm/p.a.) >A DIRECT LINK to Russias vast proven gas reserves >AN ADDITIONAL route complementing existing network and other planned pipelines Gas transported by Nord Stream can: >COVER 25% of the extra gas imports needed in the EU by 2030 >PROVIDE 26 million European households with electricity and heating fuel >MAKE a substantial contribution to EU climate protection goals 2

3. Project overview – right on track > Nord Stream already: >UNDERTOOK the most comprehensive survey of the Baltic Sea environment >IDENTIFIED the optimal route, minimising impact on the Baltic Sea environment >COMPLETED technical design of the pipeline, ensuring safe transport of natural gas >CONCLUDED the Environmental Impact Assessment and largest international consultation process (Espoo) to date >OBTAINED all permits for construction >SECURED financing for phase I >STARTED construction of the first line 3

4. Permits granted – construction started in April > 4 2009 15.06.30.06. Water Permit received 20.10. EEZ Permit granted 05.11. EEZ Permits granted 18.12. Construction Permit granted Munitions clearance Permit obtained 02.10. First and second Construction Permit granted 21./28.12. 12.02. Water Permit granted 2010 Final Espoo Meeting – Closure of Espoo Process

5. Committed to preserving the environment > Nord Stream ALREADY: >INVESTED more than 100 million euros into environmental studies, planning and route design >SURVEYED 40,000 line kilometres of the Baltic Sea in comprehensive geophysical, gradiometric investigations >CONCLUDED comprehensive EIA and environmental studies that found: Environmental impacts are temporary and of minor significance Fishing can be impacted during construction, but fish stock are not affected >ESTABLISHED a Data and Information Fund >SET UP environmental monitoring system 5

6. Project players – a true European endeavour > 6 2 Nord Stream and Shareholders Nord Stream AG OAO Gazprom N.V. Nederlandse Gasunie BASF SE/Wintershall Holding GmbH E.ON Ruhrgas AG 1 3 4 5 Port of Sassnitz-Mukran Port of Kotka Port of Hanko Port of Slite Port of Karlskrona Nord Streams Logistical Hubs (weight coating, marshalling yards, stock yards) 3 1 2 Gazprom Marketing and Trading Ltd, UK DONG Energy A/S Gaz de France S. A. WINGAS GmbH & Co. KG E.ON Ruhrgas AG Nord Stream Gas Purchasers 3 1 2 5 4 Nord Streams Contractors (Surveys, EIA, design, production, logistics, pipe laying) Marin Mätteknik AB Rambøll Saipem Services S.p.A. EUPEC GmbH 1 2 3 4 5 6 7 8 9 10 11 12 13 14 PetroValves S.R.L. DNV ERM PeterGaz ZAO OMK EUROPIPE GmbH DoF ASA IfAÖ Global Maritime IVL 4 5 3 2 1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 1 2 3 5 4 1 2 3 Italy France UK Denmark Germany Russia Sweden Finland Netherlands Switzerland Norway 5 4 5 4

7. Time schedule > 7 2011-2012 2011 2012 2010-2011 1997-1999 2009 2006-2008 2005 - 2006 Feasibility Study Conceptual Design Detailed Design Laying Line 1 Commissioning Line 1 Laying Line 2 Applications & Permitting EIA Commissioning Line 2

8. Three vessels guarantee a timely construction > >Castoro 6 Saipem Services S.p.A. Anchor positioned (deep waters) Lay rate: appr. 2.6 km/day Installations: Offshore installation; construction of Russian landfall and offshore construction towards German landfall 8 >Castoro 10 Saipem Services S.p.A. Anchor positioned (shallow waters) Slow installation in Greifwalder Bodden area, near the German landfall > Solitaire Allseas Group S.A. Dynamically positioned (no anchoring) Lay rate: appr. 2.4 km/day Installations: Offshore construction in the Gulf of Finland

9. Laying the first line 2010/2011 – construction schedule > 9 KP1196KP675 KP420 KP300KP7.5 KP350 KP1039KP1141 2010April May June July Aug. Sep. Oct. Nov. Dec. 2011Jan. Feb. March Castoro Sei (C6) Solitaire Castoro Dieci (C10) * KP = Kilometre Point

10. Pipe-laying process > 10

11. Contact > Nord Stream AG >Grafenauweg 2 6304 Zug / Switzerland Phone: +41 41 766 91 91 info@nord-stream.com www.nord-stream.com 11 Henning Kothe >Project Director henning.kothe@nord-stream.com