Investor Presentaiton

Case Study: Bujagali Hydropower Project ● The Bujagali Hydropower Project ("Bujagali") is a 250 MW hydro station located near Jinja, Uganda In August 2012, Sithe Global, through its majority owned subsidiary, commissioned Bujagali, the largest generating station in Uganda Bujagali has served as a catalyst for economic growth by eliminating load-shedding and by replacing expensive thermal generation with lower cost electricity Key project benefits: - - - Nearly doubled Uganda's peak generating capacity; increased installed capacity by 44% Prior to commissioning, load-shedding averaged nearly 12 hours per day, resulting in GDP reductions of 1% to 1.5% annually Tariffs are ~66% lower than the marginal cost of electricity as of the commissioning date (Government of Uganda was spending ~US$ 115 MM per year on fuel subsidies) Availability has averaged 99.1% over the past 6 months, and 98.5% since the start of commercial operations Bujagali's project cost of $3,600 per kilowatt is almost the same as AHP's cost per kilowatt (excluding the transmission line for both projects) - Unlike Bujagali, AHP includes a 270 km transmission line as part of the financing 9 SITHE GLOBAL

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