#1ENN 新奥 ENN Energy Holdings Limited (Stock code: 2688) Analyst/Investor Presentation January 2016#2CONTENTS 1. Investment Highlights 2. Operational Review 3. Financial Highlights 4. Appendix ENN 新奥#3Favorable Industry Policies Establish an Ecologically-balanced Society "The Opinion on Advancing the Establishment of Ecological Civilization" requires local governments to take stringent measures to improve the quality of air, water and soil. Coal-to-gas Conversion ENN 新奥 "400,000 steam tonnes of obsolete coal-fired boilers should be phased out in 2018. The demand for natural gas for "coal-to-gas" projects will reach 112 billion m3 by 2020." Nation-wide Fuels Upgrade The State Council required nationwide application of National Standard V gasoline and diesel by January 2017, one year earlier than the previous plan of January 2018. Higher Emission Standards for Ships "Threshold and Measurement of Emitted Pollutants from Vessel Engines (Phase I & II)" listed out the mandatory requirements for vessel emission standards. Market Liberalisation 2#4Optimize Mature Businesses Deepen Gas Penetration (Residential Customers) Flexible Marketing Strategies (C/I Customers) ➤ Expand Operational Areas ENN 新奥 Coal-fired Gas-fired Push Forward the Use of Natural Gas as Transportation Fuel Implement "Excellent Management" Program to Enhance Operating Efficiency 北京燃气与新奥燃气框架协议签约仪式 3#5Expand Emerging Businesses Energy Trading Business: Grasp All Downstream Opportunity LNG Distribution for Upstream Suppliers 1. Distribution of LNG imported by Sinopec and CNOOC 2. Distribution to 90 Sinopec's vehicle gas stations Online Natural Gas Trading Platform ENN 新奥 To provide seamless natural gas trading experience for our clients, from quotation, ordering, settlement to delivery, facilitating the expansion of energy trading business Shanghai Petroleum and Natural Gas Exchange ("SHPGX") 1.7% interest in SHPGX 2. Benefit from the latest market information obtained and amplify our influence in the industry ➤ LNG Import 1. Take advantage of low international spot price 2. Leverage CNG/LNG fleet and advanced dispatch center for LNG distribution GP MP 好吃网| 燃气全产业链电商! GREATGAS CH- INTER ед 商场 求购板价 18:58 行业资讯 中心 第1个真正实现LNG 在线交易的网站(内测版) 立即注册加入 Self-developed online natural gas trading platform 新美社 中国石油 A SHPGX 上海石油天然气交易中心 港华燃气 ENN 新奥 H 中国华能 CHINAGAS 申能集团 北京煤气 BEIJING GAS ENNE wwww. ENNER CC CAREY Shareholders of SHPGX Able to dispatch 750 CNG/LNG trucks with one-time transporting capacity of 22.6mil m³ 3 4#6Expand Emerging Businesses (Cont'd) ENN 新奥 Distributed Energy Projects: Multi-energy Supply to Gain More Market Shares Increase overall energy efficiency through cascade use of energy by combining cooling, heating and power ➤ 2 projects in operation with energy utilisaiton rate of over 80% ➤ Signed 3 new customers (Langfang Cloud Storage, Shandong Qingdao Wanda Boating Industrial Park and Hunan Liuyang Thermal Power) in 1H2015 Changsha Huanghua Airport Yancheng Tinghu Hospital Ship Refuelling Business: First-mover Advantage in the Industry More favorable government policies and industry regulations were launched in 1H2015 A new LNG bunkering barge was put into operation, 3 bunkering stations in total ➤ Strategic cooperations with port authorities, shipping and logistic companies “西西江集团 ENN线 新奥船人。 新奧船人 New LNG Bunkering Barge in Xijiang, Guangxi 5#7Explore New Business Opportunities ENN 新奥 Explore and develop electricity sales business in Kunming High Tech Zone in Yunnan and Zhaoqing New Zone in Guangdong as pilot projects Over 11.4mil connected residential households offer potential for the sales of gas appliances ⑤格珠棗 格瑞泰 鋁運農 ♡格瑞 Provide vehicle customers with express repair services & maintenance, sales of spare parts and convenience store at our gas stations Strategic cooperation with Minsheng bank on LNG fuel system technology for vessels, LNG bunkering network build-up, information technology in shipping logistics, etc. 6#8CONTENTS 1. Investment Highlights 2. Operational Review 3. Financial Highlights 4. Appendix ENN 新奥#9Key Operational Data ENN 新奥 1H2015 1H2014 Change Coverage & Gas Penetration Rates of PRC Projects Number of project cities 146 140 6 Connectable urban population coverage ('000) 65,625 61,645 6.5% Connectable households coverage ('000) 21,875 20,548 6.5% Piped gas (including natural gas) penetration rate (%) 52.1% 48.3% 3.8% Accumulated Connection of Piped Gas Residential (households) 11,396,420 9,931,749 14.7% C/I customers (sites) 52,310 43,156 9,154 Installed designed daily capacity for C/I customers (m³) 54,468,771 46,581,062 16.9% Connection of Piped Natural Gas Acc. connected / converted households 11,316,230 9,852,169 14.9% Increase in the Period (ex. acq & conversion) Acc. connected / converted C/I customers (sites) Increase in the Period (ex. acq & conversion) Acc. connected / converted C/I customers (m³) Increase in the Period (ex. acq & conversion) 791,822 650,484 21.7% 52,124 42,958 9,166 4,621 4,115 506 54,413,984 4,225,616 46,524,925 17.0% 4,653,800 -9.2% 8#10Key Operational Data ENN 新奥 1H2015 1H2014 Change Gas Infrastructure Length of intermediate & main pipelines (km) 29,637 25,179 17.7% Natural gas processing stations 155 141 14 Combined daily capacity of natural gas 80,005 59,298 34.9% processing stations ('000 m³) CNG refuelling stations LNG refuelling stations Gas Sales Volume 294 249 277 208 41 17 Piped natural gas ('000 m³) 4,261,949 3,969,354 7.4% Vehicle natural gas ('000 m³) 743,168 666,592 11.5% Wholesale natural gas ('000 m m³) 521,760 364,599 43.1% Total natural gas sales ('000 m³) 5,526,877 5,000,545 10.5% Other piped gas ('000 m³) 12,451 3,351 271.6% Other vehicle gas ('000 m³) Total gas sales ('000 m³) 11,273 9,249 21.9% 5,550,601 5,013,145 10.7% 9#11Natural Gas Pricing Reform Shanghai Petroleum & Natural Gas Exchange ➤ Commenced trading on 1 July 2015 ENN 新奥 The Group procured 939mil m³ of piped gas at 8% discount to corresponding city-gate price in 2015 Aim at becoming the pricing hub in China and Asia Latest non-residential gas tariff cut Effective from 20 November 2015 ➤ City-gate price -0.70/m³ New city-gate price became benchmark-based with no floor, the 20% ceiling will be effective from 20 November 2016. Upstream suppliers and downstream buyers can negotiate a final gas purchasing price. 51 out of 82 affected projects completed pass through by the end of 2015 Residential gas tariff ➤ NDRC proposed to establish tier pricing mechanism for residential gas usage in all city with piped-gas supply 32 projects already set up tier pricing mechanism by the end of 2015. Other projects are in preparation for public hearing. 1.0x 1st Tier Average gas volume consumed by 80% of users 1.2x 2nd Tier Average gas volume consumed by 95% of users 1.5x 3rd Tier Average gas volume consumed exceeds 2nd tier volume 10#12New Projects Development ENN 新奥 4 New Projects located in 4 provinces were acquired Total 146 Projects spanning across 17 provinces, autonomous regions and municipalities Total connectable population Province Project Guangdong Dongguan Dongkeng Town (東莞東坑鎮) Connectable Population 100,000 65,625,000 Inner Mongolia Liaoning Province Guangxi Hebei Jiangxi Wuzhou Imported Renewable Resources Processing Park (梧州進口再生資源加工園區) Qingyuan County Western Industrial Zone B (清苑縣西部工業區B區) Shangrao Economic Development Zone (上饒經濟開發區) NA NA 150,000 Additional coverage: 250,000 8 New Concessions managed by existing project companies Province Project Anhui Jiangsu Sichuan Province Chaohu Miaogang County ( Chaohu Langanji Town () Chaohu Suwan Town () Chaohu Zhegao Town Industrial Zone (IXITE) Jianhu County Jiulongkou Town (UK) Jianhu County Yanhe Town (建湖縣沿河鎮) Huai'an Qingpu District Heping Town (ET) Huai'an Qingpu District Wudun Town (AK) Existing projects Yunnan Province New projects acquired in 1H15 Hunan Province Guangxi • Beijing Municipality Cacfeidiar balian Tianjin Floating Terminal Tianjin Binhai under constraction) 00 Hebei Province: Shandong Province Henan Province ° Zhuha Beitor Tieshan Port (under construction) Hainan Qingdao Jiangsu Province Rudong • Anhui Province. Fujian Province hanghai Ningbo Zhejiang Province Putian Guangdong Province Dongguan bapang Shenzheng (under construction) Yuedong (under construction) 11#13New Projects Development Project Dongguan Dongkeng Town (東東坑鎮) Wuzhou Imported Renewable Resources Processing Park Qingyuan County Western Industrial Zone B (梧州進口再生資源加工園區)(清苑縣西部工業區B區) ENN 新奥 Shangrao Economic Development Zone (上饒經濟開發區) Industrial Park Jiangxi 150,000 90% Industrial Park RMB10 mil Province Connectable Population Guangdong Guangxi Hebei 100,000 NA NA Stakeholding 80% 49% 49% Operational Location Administrative Region Industrial Park Registered Capital RMB5 mil RMB40 mil RMB10 mil Estimated Connection Fees & Gas Tariff - Residential 2,928 (RMB/household) - C/I customer TBC NA TBC NA TBC 2,800-3,000 500 (RMB/m3/day) Gas sales price (RMB/m3) Gas Source Major Industry 3.60 (Res) / 5.00 (C/I) West-to-East Pipeline II Electronics, hardware, garment and toy industries 4.50 (C/I) LNG, West-to-East Pipeline II Non-ferrous metal and processing of renewable resources industries 3.95 (C/I) Shaanxi-Beijing Pipeline II & III Automobile components production, new hardware materials, food and beer industries 3.85 (Res) / 3.90-5.10 (C/I) West-to-East Pipeline II Non-ferrous metals, automobile manufacturing, photovoltaic, and pharmaceuticals manufacturing industries 12#14North America Refuelling Business ENN 新奥 Gas Sales Volume ('000 DGE) Payback calculation for LNG trucks 1,359 1,318 Average diesel price¹ (USD/gallon). 2.5 1,264 1,199 1,223 1,077 Average LNG price² (USD/DGE) 2.3 792 Spread (USD/DGE) 0.2 Additional saving with tax rebate 0.7 Average miles travelled (miles/year) 100,000 LNG consumption (DGE/year) 18,000 2014 Q1 2014 Q2 2014 Q3 2014 Q4 2015 Q1 2015 Q2 2015 Q3 DGE Diesel gallon equivalent = US LNG excise tax was reduced by 41% effective from 1 Jan 2016 US Congress approved to extend the 0.50/DGE tax rebate for selling LNG retroactive for 2015 and for all of 2016 Share tax rebate with potential customers to create more incentive to switch under low oil price environment Notes: 1. Diesel price in U.S. West Coast on 4 Jan 2016 released on EIA 2. Average LNG price at the pump at ENN US stations in Jan 2016 Savings (USD/year) 12,600 Incremental cost for adopting LNG truck (USD) 30,000 Payback (years) 2.4 13#15CONTENTS 1. Investment Highlights 2. Operational Review 3. Financial Highlights 4. Appendix ENN 新奥#16Financial Highlights ENN 新奥 (RMB million) 1H2015 1H2014 Change Revenue 15,887 14,351 10.7% Gross Profit 3,243 2,938 10.4% EBITDA 3,086 2,668 15.7% EBIT 2,555 2,255 13.3% Profit attributable to owners of 1,227 1,214 1.0% the Company EPS - Basic (RMB) 1.13 1.12 1.0% 15#17Revenue Breakdown ENN 新奥 2014 1H2015 0.2% 1.4% 10.0% 15.1% 0.2% 1.0% 13.2% 9.8% 16.1% 12.3%. 60.6% 60.1% 2013 0.3% 1.4% 6.8% Γ 16.7% 13.4% 1H2015 1H2014 Core Operating Segments Change 61.4% (RMB mil) (RMB mil) Gas connection 2,557 2,122 20.5% Sales of piped gas 9,625 9,070 6.1% Gas connection Vehicle gas refuelling 1,959 1,810 8.2% Sales of piped gas stations Wholesale of gas 1,553 1,139 36.3% ■Venicle gas refuelling stations Revenue attributable to gas sales accounted for 82.7%, ensuring the Group a long term and recurring revenue structure ■Wholesale of gas * Sales of other energy (Distribution of bottled LPG) ■Others (Sales of gas appliances and materials) 16#18ENN 新奥 High-Quality Customer Mix (By Revenue) Residential customers Commercial / Industrial "C/I" customers Vehicle gas refuelling stations Wholesale of gas 1H2015 Gas connection 26.4% Gas sales 73.6% 26.7% 2014 73.3% 26.7% 2013 73.3% 7.1% 10.3% 6.9% 8.8% 4.9% 9.5% 16.8% 17.8% 18.1% 65.8% 66.2% 67.8% 17#19Margin Analysis ENN 新奥 Gross profit margin 20.4% (1H2014: 20.5%) Margins analysis Gross profit margin: Net profit margin 9.8% (1H2014: 10.7%) Stripping out impact from North America refuelling business, gross profit margin in 1H2015 was 20.6%, remained stable compared with the same period of last year Net profit margin: Stripping out impact from CB, net profit margin in 1H2015 was 10.5% compared with 10.3% in 1H2014, increased by 0.2ppt ➤ Higher operating efficiency offset the increase in finance cost due to the US$400 million 5-year bond issued in 2H2014 and the loss from North America refuelling business 18#20Financial Resources and Liquidity ENN 新奥 (RMB billion) At 30 Jun 2015 At 31 Dec 2014 Change Cash on hand 6.33 10.62 -40.4% A/R Days 16 15 1 Total Debts 14.26 14.50 -1.7% - Short-term loans 1.50 1.53 -2.0% - Long-term loans 2.35 2.67 -12.0% - 10-year bonds 4.52 4.52 - Convertible bonds 3.47 3.36 3.3% - 5-year bonds 2.42 2.42 Net Gearing Ratio 56.6% 27.5% 29.1ppt ROE¹ 21.0% 20.8% 0.2% 1. Stripping out impact from the fair value change of CB Maintained Rating agency S&P investment-grade credit ratings Credit Rating BBB (Stable) Moody's Fitch Baa3 (Positive) BBB (Stable) 19#21* Refinancing Plan As of 30 Jun 2015 (RMB billion) Total Debt 14.26 Short-term loans: Subsidiary level 1.50 loans Long-term loans 2.35 Refinancing Plan ENN 新奥 . . • • We have RMB6.33 billion cash on hand, which is enough to refinance the short-term loans 5-year medium term notes which will be expired in 2017 at 5.55% per annum 7-year corporate bond which will be expired in 2018, at 6.45% per annum 15-year loan from China Development Bank which will be expired in 2020, at PBOC rate 7-year long term loans from IFC which will be expired in 2020 at LIBOR + 2.75% per annum Due in 2019, fixed coupon 3.25% Due in 2021, fixed coupon 6.0% • Due in 2018, zero coupon . Bondholders can convert their bonds into new shares anytime until 16 Feb 2018, conversion price is HK$48.62/share Assuming full conversion, approximately 80 million shares will be issued, representing around 6.9% of the enlarged issued share capital 5-year bonds 2.42 • 10-year bonds 4.52 Convertible bonds 3.47 20 20#22Debt Structure Analysis Debt Structure RMB Loans 21.0% US$ million 800 600 400 200 ENN 新奥 Offshore Debt Maturity Date Reduced to US$65 million after the repurchase exercise in Oct 2015 2016 2017 2018 2019 2020 2021 USD Loans 79.0% - US$750 million 10-year bond due in 2021 - US$400 million 5-year bond due in 2019 I US$500 million convertible bond due in 2018 ■IFC loan (US$131 million) ■Bank loan (US$15 million) After the repurchase of US$400 million bond, remaining US$ debt amounted to US$1,461 million, representing around 64% of total debt. 21 21#23RMB billion CAPEX 4 3.5 3 2.5 2.65 2.10 1.69 1.69 2 1.42 1.28 1.02 1.5 1 3.15 3.57 4.23 1.13 0.5 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 1H2015 Capex incurred during the period excluded the RMB4 billion investment in Sinopec Marketing The Group was free cash flow break-even in 1H2015 (1H2014: RMB202 million positive free cash flow) ENN 新奥 22#24CONTENTS 1. Investment Highlights 2. Operational Review 3. Financial Highlights 4. Appendix ENN 新奥#25Latest Benchmark City-gate Price ENN 新奥 Province From 1 April 2015 From 20 Province From 1 April 2015 From 20 November 2015 onward November 2015 onward Unit: RMB (RMB/m³ Incl. 13% VAT) Henan 2.71 2.01 Beijing 2.70 2.00 Hubei 2.66 1.96 Tianjin 2.70 2.00 Hunan 2.66 1.96 Hebei 2.68 1.98 Guangdong 2.88 2.18 Shanxi 2.61 1.91 Guangxi 2.71 2.01 Inner Mongolia 2.04 1.34 Hainan 2.34 1.64 Liaoning 2.68 1.98 Chongqing 2.34 1.64 Jiling 2.46 1.76 Sichuan 2.35 1.65 Heilongjiang 2.46 1.76 Guizhou 2.41 1.71 Shanghai 2.88 2.18 Yunnan 2.41 1.71 Jiangsu 2.86 2.16 Shaanxi 2.04 1.34 Zhejiang 2.87 2.17 Gansu 2.13 1.43 Anhui 2.79 2.09 Ningxia 2.21 1.51 Jiangxi 2.66 1.96 Qinhai 1.97 1.27 Shandong 2.68 1.98 Xinjiang 1.85 1.15 Source: NDRC 24#26Economics of Natural Gas as Transportation Fuels ENN 新奥 Payback calculation of a CNG taxi Payback calculation of a new LNG truck Total number of CNG stations by ENN Average gasoline price (RMB/litre) 294 Total number of LNG stations by ENN 249 6.1 Average diesel price (RMB/litre) 5.7 Average CNG price (RMB/m³) 4.4 Average LNG price (RMB/m³) 4.0 Gasoline consumption per km (litre) 0.05 Diesel consumption per km (litre) 0.4 CNG consumption per km (m³) 0.055 LNG consumption per km (m³) 0.44 Cost saved per km (RMB) 0.06 Cost saved per km (RMB) 0.52 Average driving distance (km/day) 400 Average driving distance (km/day) 400 Daily average savings (RMB) Monthly average savings (RMB) Conversion fee (RMB) Payback period (months) Q Reduce fuel costs by over 20% 24 Daily average savings (RMB) 208 720 Monthly average savings (RMB) 6,240 3,500 Price difference of LNG & diesel truck (RMB) 60,000 4.9 Payback period (months) 9.6 25#27Gas Delivery Process Natural gas fields Pressure regulating plants (") Long distance pipelines OR Assets owned by the Group: 66666 Intermediate pipelines CNG or LNG trucks(") Main pipelines Branch pipelines Pressure regulating boxes Switches CNG trucks Processing stations Storage tanks (spherical or cylinder) Residential households (2) Industrial users (2) Notes: (1) Gas delivery using either intermediate pipelines or CNG or LNG trucks. Vehicle & ship gas users (2) Customers' pipelines and metres which are not owned by the Group are within the customers' premises and are not highlighted in this diagram. ENN 新奥 Commercial users (2) 26#28Immediate Revenue Inflow upon Connection Revenue / Cost Simplified model for a typical matured project · Year 1 Year 3 Year 5 Year 7 Year 9 Year 11 Total Revenue Gas usage fee Capex Free cash flow Connection fee ENN 新奥 Connection fee dominates in early years when the project companies are signing up new customers Gas usage increases as projects mature, becoming the major source of recurrent income Prior to the completion of the whole pipeline network in cities, revenue will be generated as soon as gas supply becomes available in certain districts. Each connection contract normally takes 6-12 months to complete In general, gas projects would generate positive free cash flow after 5 years operation 27#29North America Refuelling Business Blu. Pacific Ocean Blu. Blu. Blu. Blu. Blu. MEXICO CANADA Blu. Blu. Blu. Blu. Blu. Atlantic Ocean Gulf of Mexico Mode Volume Scale (Tone/Year) ENN 新奥 100 300 28#30ENN 新奥 Fuels Coal Fuel oil LPG Diesel Gasoline Electricity 11,000kcal/kg 10,400kcal/kg 10,264kcal/kg 860kcal/kWh 2.0kg 0.83kg 0.82kg 0.87kg 0.88kg 10.47kWh DLE Kilogram Gallon Cubic meter mmbtu Conversion factors Conversion of NG to other fuels in terms of same heating capacity Heating capacity 1 cubic meter of NG* = North American LNG business unit conversion 1 DGE LNG = 4,500kcal/kg 10,800kcal/kg 1 DLE LNG = 3.8 2.9 1.7 4.0 0.14 1 0.8 0.45 1.1 0.037 Το Natural gas and LNG billion cubic meters NG billion cubic million tonnes million tonnes feet NG oil equivalent LNG trillion British thermal units* million barrels ** oil equivalent From Multiply by 1 billion cubic meters NG 1 35.3 0.90 0.74 35.7 6.60 1 billion cubic feet NG 0.028 1 0.025 0.021 1.01 0.19 1 million tonnes oil equivalent 1.11 39.2 1 0.82 39.7 7.33 1 million tonnes LNG 1.36 48.0 1.22 1 48.6 8.97 1 trillion British thermal units** 0.028 0.99 0.025 0.02 1 0.18 1 million barrels oil equivalent 0.15 5.35 0.14 0.11 5.41 1 * Heating capacity of NG: 9,000kcal/cubic meter Source: U. S. Alternative Fuels Data Center, BP Global Statistics, ENN Internal Research 1kg of LNG = 1.38 cubic meter of NG ** 28 m³ = 1 mmbtu 29 29#31Awards & Honors 2015 All-Asia Executive Team Ranking: Best CFO, Sell Side Rank no. 2 & Buy Side Rank no. 3 (Power Sector) asian 2014 All-As DAVID LI's HOT TICKET Institutional Investor magazine The Asset Platts 2014 All-Asia Executive Team Ranking: Best CEO, Rank no.1 (Power Sector) Best CFO, Buy Side Rank no.2 & Sell Side Rank no. 3 (Power Sector) Best IR Company, Ranked no.2 (Power Sector) Best IR Professional, Ranked no.2 (Power Sector) 2013 All-Asia Executive Team Ranking: Best Companies in China, Rank no. 1 (Power Sector) Best CEO, Rank no.2 (Power Sector) Best CFO, Rank no.3 (Power Sector) Asia Best IR Company, Ranked no. 3 (Power Sector) Best IR Professional, Ranked no. 3 (Power Sector) 2012 All-Asia Executive Team Ranking: Best CEO, Rank no.1 (Power Sector) Best CFO, Rank no.1 (Power Sector) Best IR Company, Ranked no. 2 (Power Sector) "2012 China's Most Promising Companies - Hidden Dragon" "China's Most Promising Companies 2009: The Power and Public Utilities sector" BESTUNDER A "Platts Top 250 Global Energy Companies" 2013 LACP "Gold, 2010 Vision Awards Annual Report, Energy: Oil, Gas & Consumable Fuels" Forbes China Affiliate of the Balanced Scorecard Institute IR Magazine 2013 China's Best CEO 2012 Asia's Fab 50 ENN 新奥 "Star Organisation of Strategy Execution in China" for 2008 "Top 100 for Investor Relations in Greater China" for 2013/14 Banking - Best Con "Mainland Enterprises Listed in HK Ranking - Company in Clean and Renewable Energy Industry" for 2014, 2015 2004 國際華商 Yazhou Zhoukan 南方都市報氮素平反出現轉推 HK Polytechnic University Corporate "1000 Global Chinese Enterprise" for 2007 03, 2004, 200 "Chinese Business 500" for 2001, 2002, 2003, 2004, 2005, 2006 "Top 20 Chinese Enterprises of Assets Growth" for 2003, 2004, 2005 Bauhinia Cup Outstanding Entrepreneur Awards 2012 Forbes A Small-Cap Governance Asiapans The Map 15 U.S. global 5th Asian Excellence Awards, Best CFO, Best IR Company & Best IR Professional UNDER BILL "Honor, Cover Big Year for the Annual International ARC Awards Annual International Galaxy Awards The Hong Kong Management Association FinanceAsia "Honor, Cover Design, Oil and Gas Production Services" for 2011 "Gold, Overall Annual Report: Gas Distribution, Transport & Transmission" for 2008 "Honor, Overall Annual Report: Gas Distribution, Transp Transport & BEST Transmission" for 2004, 2006, 2007 "Gold, Annual Reports: Energy" for 2009OMPANIES "Silver, Annual Reports: Energy" for 2004, 2006, 2008 06, 2008 "Citation for Design, The Best Annual Reports Awards" for 2009" Honourable Mention, "The Best Annual Reports Awards" for 2006 30#32ENN Energy - Share Price Performance 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 ENN 新奥 Market Capitalization (as at 14 August 2015): 500 0 Aug-01 Aug-02 Aug-03 Aug-04 Hang Seng China Enterprise Index Aug-05 ENN Energy Aug-06 Aug-07 Aug-08 ENN Energy HK$48.7 billion Hang Seng Index Aug-09 Aug-10 Aug-11 Aug-12 HSCE Aug-13 Aug-14 Aug-15 HSI 31#33ENN 新奥 Disclaimer The information provided to you in this presentation does not constitute or form part of any offer for subscription or sale of, or solicitation of any offer to subscribe for or sale of any securities of ENN Energy Holdings Limited (the "Company") nor shall it form the basis of, nor can it be relied on in connection with, any contract or commitment whatsoever Confidentiality The information provided to you in this presentation is given on a confidential basis and must not be passed to, or their contents disclosed to, any other person and no copy shall be taken thereof For Investor Relations Contact: Ms. Shirley Kwok / Ms. Hedy Shen Tel: +852 2528 5666 Fax: +852 2865 7204 Email: [email protected]/[email protected] Website: www.ennenergy.com 32