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2 Information about the Company I Activities II Development prospects III Contents.

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Presentation on theme: "2 Information about the Company I Activities II Development prospects III Contents."— Presentation transcript:

1

2 2 Information about the Company I Activities II Development prospects III Contents

3 IIIIII Information about the Company

4 I II III 4 Incorporates 29 companies in 15 countries of Europe and Asia Controls energy production and distribution assets in Russia and abroad Total number of employees — 15,000 persons HQ — Moscow, the Russian Federation Taking dominant position in Russia in the area of power export-import Active investment activity INTER RAO UES — transnational energy holding

5 I II III 5 INTER RAO UES: reference RF home market Import Operations w/o transit via RF Purchase of electric power, million MW Source: calculations of INTER RAO

6 I II III 6 INTER RAO UES: reference Diversified operations and a wide portfolio of energy assets in Russia, Armenia, Georgia, Moldova, Kazakhstan, Ukraine, Northern and Eastern Europe Presence in 15 countries with above-average indicators of economic growth Team of skilled managers with proven work history Value of current assets has increased since the merger with INTER RAO UES Principal import-export trader (over 90%) of electricity in Russia A leading company in electricity trading in Armenia, Belarus, Georgia, Moldova, Kazakhstan, Ukraine, Azerbaijan

7 I II III 7 Nikolai Anoshko Evgeny Dod Sergei Kiriyenko Vyacheslav Kravchenko Grigory Kurtser Alexander Lokshin Sergei Maslov Yuri Petrov Kirill Seleznyov Igor Sechin Sergei Shmatko Board of Directors

8 I II III 8 Chairman of the Management Board: Evgeny Dod Evgeny Dod has been the head of JSC INTER RAO UES since 1999 and after the Company’s reorganization became Chairman of the Management Board of OJSC INTER RAO UES Under the leadership of Evgeny Dod, the company has become a dynamic international enterprise, operating in all segments of the energy market. The Company is successfully developing and its activities are constantly expanding. Before coming to the electric power industry, Evgeny Dod had a successful career as a manager in a number of investment companies. In 1995 Evgeny Dod graduated from the Moscow Aviation Institute with a specialism in “economy and management of an enterprise”. He got the second higher education in Academy of Management of the President of the Russian Federation. Evgeny Dod has Ph.D. in economics.

9 I II III 9 Uses the latest methods of corporate management and the most up to date technologies in the electricity industry Directly or indirectly assists in expanding generation capacities and the development of a grid infrastructure within the RF Participates in implementation of investment projects Making a significant contribution to the international economic activity of Russia INTER RAO UES — a successfully developing company

10 I II III 10 Foreign trade activity: Electricity export and import Sales and purchases of electricity outside the RF Sales-and-purchase activities on the wholesale electricity market of the RF: Purchase of electricity for further export Sale of imported electricity Purchase of electricity and supply to the Kaliningrad Oblast Sales and purchase of electricity on the domestic wholesale market Additional sales of electricity. Production and investment activities Management of electricity assets in the RF and abroad Activity areas

11 I II III Installed capacity of the Holding power stations, MW Electricity generation by the Holding companies, bln. KWh 4,027,84211,74212,325 Electricity exports under company contracts, bln. KWh 9,9820,9320,5218,14 Electricity imports under company contracts, bln. KWh 11,4610,145,115,62 Average number of employees in the Holding companies, thsd. 4,4717,1016,4114,48 Electricity transmission lines of the Holding (length), thsd. km 3,132,7 35,3 Key performance indicators of JSC INTER RAO UES Group and Company in

12 I II III Since 2004 the installed capacity of the INTER RAO UES Group’s power plants has increased more than 3 times MW

13 I II III And the length of the power transmission lines has increased more than 10 times km

14 I II III JSC INTER RAO UES was established as a 100% affiliate of RAO UES of Russia INTER RAO UES: stages of development

15 I II III INTER RAO UES: stages of development Commencement of projects for supply of non-Russian electricity on foreign markets Supply of electricity produced by the Ignalinskaya AES (Lithuania) to Belarus and Russia Three affiliates established for operation on foreign energy markets

16 I II III INTER RAO UES: stages of development Commencement of independent electricity export from Russia to Scandinavia (Nord Pool) Commencement of own production of electrical power at a leased facility of the Iriklinskaya GRES

17 I II III INTER RAO UES: stages of development Rosenergoatom became a shareholder of the Company, purchased 40% of the stock Export-import contracts of OJSC RAO UES of Russia transferred to JSC INTER RAO UES Generation and distribution assets in Georgia and Armenia purchased

18 I II III INTER RAO UES: stages of development The Company started trading on the RF wholesale electricity market

19 I II III INTER RAO UES: stages of development Expansion to Central Asian markets; purchase of generation assets in Kazakhstan and Tajikistan Purchase of distribution assets in Armenia and generation assets in Moldova Expansion in own production of electricity in RF by means of additional leasing of the Kaliningradskaya TETs; and increase in the share held in the Severo-Zapadnaya TETs

20 I II III INTER RAO UES: stages of development INTER RAO UES JSC manages a group of companies, operating in 15 countries of the world Issue of CLN valued at USD 150 mln is organized

21 I II III INTER RAO UES: stages of development On February 9, 2007, the Board of Directors of OJSC RAO UES of Russia approved the main provisions of JSC INTER RAO UES strategy A decision on the incorporation of the generation assets below into JSC INTER RAO UES authorized capital is made: JSC Severo-Zapadnaya TETs JSC Ivanovskiну PGU JSC Kaliningradskaya TETs-2 JSC Sochinskaya TES JSC Sangtudinskaya GES

22 I II III INTER RAO UES: stages of development Acc. to Decree of the RF President OJSC INTER RAO UES is incorporated into GK Rosatom Vneshekonombank approves the funding plans of the OJSC INTER RAO UES investment program through credit arrangements and participation in the Company’s authorized capital Shares of the Company are quoted on Russian stock exchanges

23 I II III 23 Tasks of the Company A steady increase in business value Ensuring a stable and active presence on target markets Expansion of areas of activity Transformation of the Company into a vertically integrated holding with a wide range of activities in the electricity industry

24 IIIIII Activities

25 I II III 25 Assets Management Investment Activities Export-Import

26 I II III 26 Trading activities of OJSC INTER RAO UES 2008 * Maximum capacity of crossflows is indicated in the main directions Import to RF Export from RF w/o transit via RF Finland 1,460 Lithuania 400 Belarus 900 Ukraine 250 Kazakhstan (North) 1,000 Azerbaijan 350 Georgia 365 Latvia 700 Tajikistan Moldova Romania Kazakhstan (West) 350 Mongolia 180 Kazakhstan (South) China 50 Kyrgyzstan

27 I II III 27 Trading activities of OJSC INTER RAO UES INTER RAO UES participates in parallel in the work of the energy system of RF by providing emergency capacity reserves and ensures the reliability of the RF energy system through transmitting electrical power via neighboring countries (Kaliningrad, Northern Caucasus, etc.) One of the main tasks of the company is use of trading activities to increase the presence and influence of RF on the target power markets of the company

28 I II III 28 Azerbaijan Georgia Norway Lithuania Finland Ukraine Belarus Latvia Kazakhstan China Mongolia 54% 15% 12% 19% 8% 6% 2% 1% 0,2% Electric power exports structure in 2007

29 I II III 29 Export of electricity by JSC INTER RAO UES in 2007 Supplies: billion kWh (2.38 billion kWh less than in 2006) Main buyers: Finland (over 54%) Belarus (15%) Kazakhstan (12%) Latvia (8%) Lithuania (6%) Border trade: to Norway and northern regions of Finland from dedicated hydroelectric generators of Borisoglebskaya GES, Rayakoski GES, and Kaitakoski GES

30 I II III 30 Name Volume of electricity deliveries, billion kWh Volume of deliveries, in total Export CIS countries Other foreign countries Deliveries w/o transit via RF Dynamics of electricity supplies as per contracts of INTER RAO UES in 2002–2007

31 I II III 31 Import of electricity by INTER RAO UES in 2007 Total volume: 5.62 billion kWh (up 0.51 over 2006) Insignificant change in imports from Kazakhstan to Lithuania in comparison with 2006 Imports from Ukraine and Moldova increased 59% 17% 8% 6% 5% 4% KazakhstanUkraine LithuaniaAzerbaijan GeorgiaMoldova

32 I II III 32 Azerbaijan Georgia Lithuania Mongolia Moldova Kazakhstan Latvia 59% 17% Ukraine 8% 6% 5% 4% 1% 0,25% Electric power imports structure in 2007

33 I II III 33 China Azerbaijan Georgia Moldova Norway Finland Belarus Latvia Lithuania Ukraine Export Import Kazakhstan Mongolia 10,0 10,5 20,9 10,1 5,1 20,5 Export and Import Turnover in , bln kWh 20,5 18,14 5,

34 I II III 34 Electricity sales During 2007, the Oryol affiliate company sold electricity on the retail market of the Oryol Oblast as a provider of last resort in acc. with Order of the Tariff Service for the Oryol Oblast No Covered by the service are: 6 cities 17 districts of the region 196,000 consumers 28% of the total consumption of the Oryol Oblast

35 I II III 35 Assets Management Investment Activities Export-Import

36 I II III 36 Principles of management of foreign assets Improve financial and economic indicators of the activities of these foreign companies Expand operating and sales activities, gaining a supplementary benefit on external markets Increase the company’s capitalization Increase the business value for shareholders via: Improvement of the quality of operating activities Stability of payment for electricity sold Parallel work with UES of Russia in energy systems of neighboring countries Expansion of the geographical spread of export-import operations Organizational and technical preparations for access to new energy markets

37 I II III 37 Severo-Zapadnaya TETs Kaliningradskaya TETs-2 Ivanovskiye PGU, Stend Orel Region Branch Finland Moldova Armenia Georgia Ukraine Tadzhikistan Kazakhstan Sochinskaya TES The Group’s assets are located in a number of countries of the world

38 I II III 38 Distribution Trading Assets of OJSC INTER RAO UES Generation ?,,. Affiliate companies Severo-Zapadnaya TETs 900 MW, gas Ivanovskiye PGU and bench 435 MW, gas Kaliningradskaya TETs MW, gas Moldavskaya GRES 2520 MW, gas/coal/fuel oil 51% ownership Sochinskaya TES 78 MW, gas Georgia Мktvari 600 MW, gas. 100% ownership Khramihesi I and II 220 MW control, hydro Telasi 75% ownership Kazakhstan Ekibastuzskaya GRES MW, coal, 50% in ownership Armenia Armenian Nuclear Power Plant 815 MW, control Sevano-Razdanskiy cascade 560 MW, 90% ownership Electric Networks of Armenia 67% ownership

39 I II III 39 Installed electrical capacity: 900 MW Installed heating capacity: 700 Gcal Russia: Severo-Zapadnaya TETs Heat and power station with a binary combined-cycle plant, the first heat and power station of the new generation of Russian energy sector December, 2000 — Start-up of the first power unit of PGU-450T November, 2006 — Start-up of the second power unit from October, 2007 — heat delivery from unit No. 2

40 I II III 40 Russia: Severo-Zapadnaya TETs Northwestern region is the second-highest in Russia in terms of the rate of energy consumption growth Priority tasks in 2008: Completion of technical re-equipment and revamp of the process water supply for power units 1 and 2 Construction of the second evaporative cooling tower, reflux area of 3,200 sq.m. Commissioning date : Q3 2008

41 I II III 41 November, 2005: The first power unit of 450 MW was put into pilot operation 2008–2010: construction of power unit PGU-450 MW No — engineering and survey work for construction of a heat pipeline from from Kaliningradskaya TETs-2 to the southern part of Kaliningrad Heat delivery (preliminary timeframe) — 2010 Russia: Kaliningradskaya TETs-2

42 I II III 42 The base of the production complex: combined cycle gas plant of 325 MW One of the first Russian electricity stations in the country within the scope of the investment program of the RAO UES of Russia Holding Russia: Ivanovskiye PGU PGU’s objectives: New effective technologies development Creation of spare capacity in the region Energy and power shortage coverage in the region

43 I II III 43 The first combined-cycle electric generating plant in Russia constructed using domestic equipment only 2007 — the first unit of PGU-325 MW is commissioned via two start-up complexes May, 2008 — the first unit of the Ivanovo Combined-Cycle Plant commissioned Q — commissioning of the third start-up complex Russia: Ivanovskiye PGU

44 I II III 44 Russia: Sochinskaya TES Equipped with combined-cycle gas units PGU-39: Russia-best technical, economic and environmental indicators Up-to-date process control systems Installed capacity: 78 MW Annual average production : 565 million kWh Commissioning: December, 2004

45 I II III 45 Russia: Sochinskaya TES Construction of a heat pipeline to Sochi. Commissioning: 2008, funding sources: own funds Program for technical re-equipment and development for 2008/2012: Expansion of the Sochinskaya TES (2nd train) double unit No.3, 80 MW, including autotransformer AT 220/110 - Construction start: Commissioning: Q2 2009

46 I II III 46 Covering 25% of energy consumption in the region One of the largest electric energy providers of the Oryol Oblast to industrial plants and state- owned organizations. Furthers the Company’s business diversification Serving : legal entities individuals 6 cities 17 districts of the region Russia: Affiliate in the Oryol Oblast July, 2005 — established October, 2005 — started operating 2006 — gained the status of a provider of last resort

47 I II III 47 Installed capacity: 1,000 MW (2 units, 500 MW each) Equity interest: 50% GRES interest amounts to 10-12% of the overall e/e capacity generated in the republic Prospect: increase in supplies to Russia e/e generation build-up, consolidation on the local market Kazakhstan Stantsia Ekibastuzskaya GRES-2

48 I II III 48 Tajikistan. JSC Sangtudinskaya GES-1 Russia-Tajikistan joint venture, established for completion and operation. Set up on under preliminary agreements between the Presidents of Tajikistan and Russia and an execution agreement Is being built on the Vakhsh River 200km away from Dushanbe: the end of the 80s – the beginning of the 90s — the beginning of construction and its suspension since 2005 — massive project financing (after negotiations between Russia and Tadzhikistan)

49 I II III 49 Tajikistan. JSC Sangtudinskaya GES-1 Design capacity: 670 MW 4 units — commissioning of the first unit — commissioning of the second unit Units 1 and 2 produce 72 million kWh/month each. Design capacity of the thermal plant after start-up of all four units is 670 MW Construction of the thermal plant is planned to be completed by end-2008

50 I II III 50 The Company owns: 8,111transforming substations 24,300kmof overhead transmission lines 5,300kmof cable transmission lines Armenia CJSC «Electric Networks of Armenia» Number of consumers: about 950,000 Among the largest enterprises of Armenia

51 I II III 51 Sevano-Razdanskiy Cascade of HPPs Armenia Capacity: 560 MW Equity interest: 90% The cascade consists of 7 HPPs on the Razdan River

52 I II III 52 Trust management from 2003 JSC Armianskaya Atomnaya Electrostantsia (Armenian Nuclear Power Plant) is the sole operating atomic station in the Caucasus and neighboring countries (Turkey, Iran, and Iraq) Effective electricity supply to consumers in 2007 was 2.4 billion kWh Positive results of management were many times acknowledged by Ministry of Energy of Armenia Armenia Armenian Nuclear Power Plant Capacity: 815 MW Main consumer is the energy market of Armenia

53 I II III 53 Installed power: 2,520 MW A unique station, operated using three kinds of fuel (gas, fuel oil, and coal) March, 2005 — incorporation in the Group of INTER RAO UES 1 st April, 2007 — electricity supplies to Romania Moldova. Moldavskaya GRES

54 I II III 54 Georgia JSC Telasi Supplies electric energy to more than 410,000 consumers: 95% — population 3.7% — commercial sector 5,658km – total length of power transmission lines

55 I II III 55 Khramhesi I and Khramhesi II Mtkvari Energy Georgia Capacity: 110 MW each Generated electric energy goes to JSC Telasi for realization Capacity: 600 MW The Company owns the 9 th and the 10 th units of Tbilisskaya GRES

56 I II III 56 Ukraine Active on the Ukrainian market since September, 2000 Equity interest: 90% Investment projects support implementation: In the course of new energy complexes construction In the course of the existing objects re-equipment and reconstruction

57 I II III 57 Finland: RAO Nordic OY Trading operations on the Scandinavian electric energy market since 2003 Equity interest: 100% Among the largest enterprises of Finland

58 I II III 58 Toward 2008, activities geography has embraced 15 countries of Europe and Asia

59 IIIIII Development prospects

60 I II III 60 Means for meeting strategic goals of the Company Development of the Company’s generation capacity Strategic goals of the Company Heat generation Hydro- generation Nuclear generation

61 I II III 61 Sales of energy generated by nuclear stations owned by GK Rosatom Energy sales on the markets where the Company is present Means for meeting strategic goals of the Company Развитие генерации Компании Strategic goals of the Company Energy wholesale

62 I II III 62 Distribution of energy across the territory of the RF together with GK Rosatom via the CJSC PEK Means for meeting strategic goals of the Company Развитие генерации Компании Strategic goals of the Company Оптовая торговля электроэнергией Energy retail sales

63 I II III 63 Electricity sales Operation of nuclear generation facilities (together with GK Rosatom) Participation in construction of nuclear generation facilities on RF territory and abroad (together with Atomstroy-export) Provision of funding for construction of new nuclear generation facilities on RF territory and abroad Means for meeting strategic goals of the Company Развитие генерации Компании Strategic goals of the Company Оптовая торговля электроэнергией Розничная торговля электроэнергией Rendering of a new multi-faceted service

64 I II III 64 Key objectives of OJSC INTER RAO UES are Development of new assets Further penetration into target markets

65 I II III 65 Central Asia and the Far East South-Eastern Asia Eastern Europe Baltic region Scandinavia The Black Sea region Central America Current assets of INTER RAO Potential acquisition targets Africa India Pakistan Target energy markets

66 I II III 66 * — Credit Swiss First Boston valuation ** — Based on Consortium of independent appraisers of RAO UES of Russia *** — Target value Key strategic targets to be achieved by 2015 determined by Russian Government To increase installed capacity up to 30,000 MW: owned capacity up to 15,000 MW capacity under management & joint-venture up to 15,000 MW To increase enterprise value to 14 billion US dollars 1,1* ** 14***

67 I II III 67 Strategic goals To create an international vertically-integrated energy holding focused on generation of electricity with a perspective of building vertically-integrated chains on target markets To make efficient investments in construction of new and modernization of existing energy objects and provide energy objects management services To provide a solid energy supply, saving and increasing the energy safety both in Russian Federation and other regions of Company’s presence To execute functions of the operator of electricity export/import. To coordinate commercial and technological activities of external and internal markets’ participants

68 I II III 68 Contact information 7 Entrance, 12 Krasnopresnenskaya Embankment, Moscow, Telephone: +7 (495) Fax: +7 (495)


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