Energy Conversion and Financial Overview

CAPEX RMB billion 4 3.5 3 2.5 2 1.5 1 0.5 3.57 3.15 2.65 2.10 1.69 1.69 1.42 1.28 1.02 1.37 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 1H2014 ENN 新奥 The Group had RMB202 million positive free cash flow in 1H2014 (1H2013: RMB78 million positive free cash flow) More CAPEX may be required depending on the progress of developing vehicle/ship LNG refuelling business as well as the availability of suitable downstream investment opportunity The current source of capital mainly comes from operating cash flow, current assets, bank loans and issued bonds. We have sufficient capital and banking facilities to finance future CAPEX and operational needs 19

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