GROWTH IN PURE ENERGY Nordic Energy Summit, 20th March 2014

Christian Rynning-Tønnesen, CEO, Statkraft

Growth in consumption – dependent on region

2

Power demand 2000 -2012

Climate change

3

Egham, UK, February 2014

EU’s climate and energy targets

Agreed EU targets for 2020 - 20 % GHG-reduction - 20 % renewables consumption - 20 % energy efficiency

Proposed EU targets for 2030 - 40 % GHG-reductions - 27 % renewables consumption

EU ambition for 2050 - 80-95 % GHG reduction

4

Germany’s plan: «Energiewende» Switch from coal and nuclear to renewables

0

100

200

300

400

500

600

700

2005 2010 2015 2020 2025 2030 2040 2050

ConventionalRenewables

5

Power production in Germany 2005-2050, TWh per year

Source: DLR and Fraunhofer IWES

Coal prices lower than gas prices

6 6

0

10

20

30

40

50

60

Combined Cycle Gas Turbine Coal

Variable operating costs (€/MWh)

EEX power price, base, Germany 2014

CO2 costs

Fuel costs

Variable OpEx

Solar PV in Germany

7

Feed-in tariff Feb. 2014

Flat packed solar power

8

Changes in EU electricity generation 2013

9

-10000

-5000

0

5000

10000New

Decommissioned

MW

Source: EWEA

Wind PV Gas Coal Biomass Hydro CSP Fuel oil Nuclear

Power prices in Europe

10

0

10

20

30

40

50

60

70

2000 2005 2010 2015 2020

€/ M

Wh

Nordic System Price Germany - Phelix

A German summer week 2022

Source: Agora Energiwende

Biomasse baseload Biomasse CHP Bioigas Biomethane Hydropower Onshore wind Offshore wind Photovoltaic Conventional Power demand

Mon Tue Wed Thu Fri Sat Sun GW

National capacity mechanisms implemented

12

Existing capacity market

Planned capacity market

Global investments in renewables and fossil electricity

13 Source: UNEP Global Trends in Renewable Energy Investments 2011, 2012 and 2013

0

50

100

150

200

250

300

350

2010 2011 2012

Renewables incl. large hydro Fossil Fuel

$bn

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ABOUT STATKRAFT

Blåsjø, March 2014

2013:

Statkraft at a glance

Peru 163 MW (+ project)

Chile 94 MW

Turkey 20 MW (+ projects)

Nepal 21 MW

Philippines 179 MW

Brazil 77 MW

Panama (project)

Zambia 7 MW

Norway 12 518 MW Sweden

1 315 MW Finland 66 MW

UK 273 MW

Laos 100 MW

Germany 2 692 MW

India 82 MW

Installed capacity*

17 600 MW Power production* 56 TWh

97% renewable energy 3 600 employees

AGUA IMARA

SN POWER

STATKRAFT

Includes: - Statkraft’s share of installed capacity - Statkraft SF’s share of installed capacity in Laos

Albania (project)

Statkraft financial development 1992-2013

16

-

5 000

10 000

15 000

20 000

25 000

30 000

35 000

40 000

45 000

50 000

1992 -93 -94 -95 -96 -97 -98 -99 2000 -01 -02 -03 -04 -05 -06 -07 -08 -09 -10 -11 -12 -13

NOK million.

Gross revenues

EBITDA

1992-2003: Statkraft SF – From Income Statement (unadjusted) 2004-2013: Statkraft AS – Underlying figures – Adjusted for unrealised changes in value on energy contracts and significant non-recurring items

10 042

402 278 507 132

1 584

-501

3 458

640

NordicHydropower

Continental Energyand Trading

InternationalHydropower

WindPower

DistrictHeating

IndustrialOwnership

Others/eliminations

Underlying* EBITDA Share of profit from associates

2013 Segment financials

17 * Adjusted for unrealised changes in value on energy contracts and significant non-recurring items

NOK million

Underlying* EBITDA and Share of profit from associates

District Heating

Statkraft’s ambition: Leading international company in pure energy

European Flexible Generation

Wind Power

Hydropower in Emerging Markets

Trading and Origination Investments directed to

1) Regulated income in Europe

2) Growth in emerging markets

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Nordic hydropower

19

Germany’s largest operator of renewable energy

Direct sales of 8.700 MW in Germany - 5000 MW is remote controlled

Markets share: 25% of German wind power

Statkraft turns local power production into a big virtual renewable power plant

8 700 MW – market access 5 000 MW – remote control

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Strengthening International Hydropower

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1st April 2014: Statkraft to integrate South America and South Asia

New SN Power to focus on South East Asia, Africa and Central America

Statkraft SN Power

Alltwalis

Stamåsen Mörttjärnberget

Björkhöjden Ögonfägnaden

Hitra Smøla

Onshore and offshore wind power in the Nordics and UK In operation/under construction

- Norway: 244 MW - Sweden: 525 MW - UK: 460 MW

Licensed/under development - Onshore: Norway 735 MW

Sweden 290 MW UK ~ 50 MW

- Offshore: Dudgeon 402 MW Dogger Bank 7200 MW

Em Tollarpabjär

Dudgeon Sheringham Shoal

Dogger Bank

Berry Burn

Baillie

Kjøllefjord

22

23

Innovation in Statkraft

R&D programs Exploration activities

Future Hydro Power

Competitive Wind Power

Energy from Biomass

Consequences of Climate Change

Distributed energy

Solar PV

Energy Storage – battery

Biofuel

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