Investor Presentaiton

Coal-to-gas Conversion ENN 新奥 Connection to coal-based C/I users increased Newly installed daily capacity of 3.18 million m³ were switched from coal-based boilers Share of coal-to-gas conversion in total new C/I connection increased yoy Leveraged on supportive government's policies to boost coal-to-gas conversion • Local governments provided subsidies to phase out obsolete coal-fired boilers Dollar margin remained stable with the increasing share of coal-to-gas users New C/I Connection Break-down 4% 2% 5% 2015 2014 20% 15% 5% 2013 33% 3% 16% 39% 10% 10% 51% 49% 39% ■ Coal ■New Sites ■LPG ■ Diesel & Heavy Oil ■ Others 18

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