EBRD – Annual meeting and Business Forum Istanbul 2013 Nabucco Gas Pipeline International Reinhard Mitschek Chief Executive Officer 10 May 2013

Gas bridge from Asia to Europe Bridging the gap between Europe and the Caspian Region results in an investment program of appr USD 40 to 45 bn 2 Shah Deniz TANAP Source: OMV

Gas bridge from Asia to Europe Nabucco brigdes the gap between the Caspian Region and Europe offering a competitve transport solution for natural 3 Pipeline Diameter: 56 Distance: 3,300 km Investment: ~ 5 bill. Transport capacity: max. 31 bcmy TANAP Nabucco Caspian Region Azerbaijan, Turkmenistan Baumgarten

Gas bridge from Asia to Europe NABUCCO – Market Access (2030 Forecast) NABUCCO TRANSIT MARKETS: 43 bcma Plus NEIGHBOURING MARKETS: accum. 246 bcma Plus EXTENDED MARKETS: accum. 315 bcma Germany France Poland Balkan Italy Greece 43 bcm 246 bcm 315 bcm

Gas bridge from Asia to Europe Diversification, Security of Supply and Freedom of Choice for 500 million consumers 5 Combination of existing pipeline connections and existing consolidated gas hubs New/growing gas markets Existing interconnections in SEE/CEE Potential new interconnections in SEE/CEE NABUCCO connects national grids in transit countries, offers logistic solutions to Italy and Greece NABUCCO provides alternative gas supply to all countries in SEE NABUCCO connects all important gas hubs in Europe via the Central European Gas Hub NABUCCO combines physical transports & gas swap opportunities

Gas bridge from Asia to Europe NABUCCO offers gas to all SEE countries Existing direct links Possible Interconnectors Source: ENTSOG ITALY GERMANY CZECH REPUBLIC POLAND SLOVAKIA AUSTRIA SLOVENIA CROATIA HERZEGOVINA BOSNIA AND SERBIA MONTE- NEGRO ROMANIA UKRAINE Bucharest HUNGARY Budapest Baumgarten Vienna BULGARIA Sofia MACEDONIA AL BA NIA GREECE TURKEY MOLDOVA KOSOVO 6

Gas bridge from Asia to Europe NABUCCO PDSP Submission: 29 March 2013 PDSP successfully submitted to SDII Consortium Pipeline Decision Support Package successfully submitted in time and as detailed as requested by NIC to SDII. Basis for SDII Decision end of June 2013 PDSP package contains all relevant details about Technical Design, Project Execution Plan, Scope & Schedule, Capacity Marketing & Tariffs, Legal & Regulatory, Financial Structure, Human Resources & Organisation, and other related project key parameters 7

Gas bridge from Asia to Europe Next steps on the way to the Final Investment Decision Clarification meetings with Shah Deniz Independent Project Audit Subscription and Shareholders Agreement (SASA) Route selection decision by Shah Deniz II Consortium Execution of the Open Season Completion of Front End Engineering Design for NABUCCO West Accession Process of Shah Deniz Potential Investors (SD PIs) Final Investment Decision NABUCCO West and Shah Deniz II 8

Gas bridge from Asia to Europe NABUCCO: Unique robust transit framework 9 NABUCCO´S unique harmonised regulatory and legal framework guarantees a predictable and transparent transit regime for the entire route

Gas bridge from Asia to Europe Vienna, Austria ( ) Legal status of IGA & PSA confirmed. Support for new shareholders from Shah Deniz II Consortium joining the project. Cooperation TANAP / NABUCCO enhanced. Sofia, Bulgaria ( ) Validity of Intergovernmental Agreement extended to NABUCCO West. Agreement between Shah Deniz II Consortium and NABUCCO announced. 10 Political Committee: Utmost support for the project Budapest, Hungary ( ) Report of the joint Tax Committee Adaption of a joint political declaration to confirm political support

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