PitchSend

Investor Presentaiton

Active fuel procurement creates additional value Liberalised business E✓ endesa Gas procurement contracts (current portfolio) Rasgas 16% Sonatrach 16% 6bcm Medgaz 16% Gas Nat 35% 2/3 of LNG (year 2013) ■ Recently signed 2 contracts with USA Nigeria 16% From 100% indexed to Brent to 50% indexed to HH by 2020 Coal procurement contracts (current portfolio) Main Actions Active management of gas and coal to provide an additional source of margins: ■ Diversion ■ Shipping ■ Wholesale operations Wholesale market margins (2013) South Africa; 8% (€m) USA; 4% Chile; 1% Russia; 5% 8tn Indonesia 53% 24 24 Colombia 29% High geographical diversification 79 Coal & Logistics Gas 50

View entire presentation