Gwynt y Môr Offshore Wind Farm

Gwynt y Môr Offshore Wind Farm Toby Edmonds Project Director, Gwynt y Môr Liverpool, 12 September 2012

Forward Looking Statement This presentation contains certain forward-looking statements within the meaning of the US federal securities laws. Especially all of the following statements: Projections of revenues, income, earnings per share, capital expenditures, dividends, capital structure or other financial items; Statements of plans or objectives for future operations or of future competitive position; Expectations of future economic performance; and Statements of assumptions underlying several of the foregoing types of statements are forward-looking statements. Also words such as anticipate, believe, estimate, intend, may, will, expect, plan, project should and similar expressions are intended to identify forward-looking statements. The forward-looking statements reflect the judgement of RWE s management based on factors currently known to it. No assurances can be given that these forward-looking statements will prove accurate and correct, or that anticipated, projected future results will be achieved. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. Such risks and uncertainties include, but are not limited to, changes in general economic and social environment, business, political and legal conditions, fluctuating currency exchange rates and interest rates, price and sales risks associated with a market environment in the throes of deregulation and subject to intense competition, changes in the price and availability of raw materials, risks associated with energy trading (e.g. risks of loss in the case of unexpected, extreme market price fluctuations and credit risks resulting in the event that trading partners do not meet their contractual obligations), actions by competitors, application of new or changed accounting standards or other government agency regulations, changes in, or the failure to comply with, laws or regulations, particularly those affecting the environment and water quality (e.g. introduction of a price regulation system for the use of power grid, creating a regulation agency for electricity and gas or introduction of trading in greenhouse gas emissions), changing governmental policies and regulatory actions with respect to the acquisition, disposal, depreciation and amortisation of assets and facilities, operation and construction of plant facilities, production disruption or interruption due to accidents or other unforeseen events, delays in the construction of facilities, the inability to obtain or to obtain on acceptable terms necessary regulatory approvals regarding future transactions, the inability to integrate successfully new companies within the RWE Group to realise synergies from such integration and finally potential liability for remedial actions under existing or future environmental regulations and potential liability resulting from pending or future litigation. Any forwardlooking statement speaks only as of the date on which it is made. RWE neither intends to nor assumes any obligation to update these forward-looking statements. For additional information regarding risks, investors are referred to RWE s latest annual report and to other most recent reports filed with Frankfurt Stock Exchange and to all additional information published on RWE's Internet Web site.

Evolution of RWE Innogy s offshore wind projects: North Hoyle and Rhyl Flats North Hoyle Rhyl Flats Commissioning Capacity Turbines 2004 60 MW 30 Vestas V80 2009 90 MW 25 Siemens 3.6MW v107

Operational performance track record Load Availability 40% 35% 30% 25% 20% 15% 10% 2004 2005 2006 2007 2008 2009 2010 2011 2012 North Hoyle > Average load factor of 34% 36% Rhyl Flats > Significantly below average wind year of 2010 followed by much better wind yields in 2011 > Target technical availability for offshore wind currently at 93% (onshore wind at ~97%) > Both North Hoyle and Rhyl Flats show recent outperformance > Commercial availability influenced by events outside operator s control, ie turbine outage > However, warranty contracts from turbine manufacturers guarantee commercial availability under warranty contract for at least 5 years

Lesson learnt from Rhyl Flats and Greater Gabbard Lessons Learnt Application at Gwynt y Môr > Contract Strategy > Working Relationship with Suppliers > Location and Conditions > Installation Vessels > Health Safety and Environment > Multi-contracting > Built strong relationships > Met mast data and experience > Purchased Seabreeze vessels & Market Engagement > HSE management systems

Gwynt y Môr: Overview of Asset Asset summary Geographic location Location Off the north coast of Wales, United Kingdom - within the Liverpool Bay area of the Irish Sea. Asset History Crown Estate Awarding 2003 Licensing Round UK Crown Estate Round 2 Capacity 576MW (approx. 400,000 homes), monopile construction Turbine Layout Met mast Turbines Capex 160 x Siemens 3.6MW Circa 2bn Commissioning 2013-2014 Wind Speed Load Factor ~9m/s mean at hub height 38.6% (net) Rhyl Flats Offshore Wind Farm Gwynt y Môr Offshore Wind Farm (expected 2014) North Hoyle Offshore Wind Farm Hoylake Est. Output ROC Banding Inst. Base Ops. Base Distance to Shore 973.6 GWh / annum 2.0x ROCs per 1MWh output Cammell Laird & Port of Mostyn Port of Mostyn 13 to 15 km off the North Wales coast Bangor Prestatyn Llandudno Rhyl Colwyn Bay Conwy Abergele Llanddulas Llanfairfechan Mostyn Flint Water Depth Between 12 and 28 metres at LAT

Gwynt y Môr: Project management > Large scale project: ~ 2 billion > Multi-contract approach: 100+ contracts > Main Contracts: Turbines: Siemens (Denmark) Foundations: EEW/Bladt (Germany/Netherlands) Offshore Substation x 2: Siemens (UK) Onshore Substation: Siemens (UK) Export cables: nkt cables (Germany) Inter-array cables: Draka (Norway) > RWE s own Seabreeze Vessel RWE Contract Strategy Environment & consents WTGs WTG foundations Substations & grid connection Onshore cables Export cables Array cables Ports & logistics

Gwynt y Môr: Project timeline and key milestones Key points > Turbine Supply Agreement signed in Q2/2010 > WTG Foundation Supply Agreement signed Q4/2010 > WTG Foundation Installation Vessels available at port Q3/2012 > WTG installation begins Q2 2013 from Port of Mostyn > OFTO asset transfer in Q4/2013 > First generation in Q2/2013 > Full commissioning concluded during 2014 2010 Onshore Construction Works WTG Foundation Installation Offshore Substation Installation Grid Connection (National Grid) Subsea Export Cable Installation Subsea Array Cable Installation WTG Installation Expected timeline 2011 2012 2013 2014

Gwynt y Môr: Capex profile Envisaged cash outflow profile of 2 bn project capex 100% 90% 80% 70% 60% Capex split 50% 40% 30% 20% 10% 0% Turbines Cables & grid connection Foundations Other 2009 2010 2011 2012 2013 2014

Gwynt y Môr: Progress so far > Onshore substation First TP Installed > Export cable/onshore cable > Offshore Substations > WTG Foundations > Seabreeze/Stanislav Yudin > Cammell Laird fully mobilised > Mostyn preparation for wind turbine is Spring 2013

Onshore Substation 132/400kV > A 132/400kV substation is being constructed south of St Asaph Business Park, Denbighshire, north Wales to carry electricity generated offshore into the National Grid. > Work started in May 2010 and is due for completion later this year. > A short section of around 500m of overhead power line will transfer electricity from the substation to the National Grid. > The substation was deliberately located close to the existing National Grid transmission lines to minimise the requirement for lengthy overhead power lines. > Sections of the substation have already been successfully energised.

Onshore 132kV Export Cable > An 11km underground cable route will transport power from transitions pits near the beach landing point to the onshore substation. > Burying the cable underground avoids the need for lengthy overhead lines. > Work on the cable route began at the end of 2010 and is due for completion later this year. > 21 landowners own the land under-which the cable is buried. > Once complete, it will be returned to its mainly agricultural use.

Offshore Substation Jacket Foundations > Two jacket foundation structures for the offshore substations have been installed more than ten miles offshore. > The jacket foundation structures were manufactured by Burntisland Fabrication (BiFab) in Scotland and transported 940 miles around the coast to Liverpool Bay. > The foundations were installed using the heavy lift vessel, Stanislav Yudin.

Offshore Substation Topsides > Two topsides for the offshore substations have been designed and built by Siemens in Manchester and Harland and Wolff in Belfast. > Each topside was towed on a barge from Belfast to the installation site in Liverpool Bay. > Both topsides were installed using the heavy lift vessel, Stanislav Yudin. > Commissioning work is underway offshore to complete the offshore substations.

Subsea Export Cable Laying Purpose Built Barge Cable Enterprise > Four subsea export cables will carry the electricity generated offshore to connect with the onshore cable route. > The cables are coming ashore at Pensarn in north Wales and being connected to the onshore cables at the transition pits. > The cables are being installed by Global Marine Services from their new barge, Cable Enterprise.

WTG Foundations > Foundation installation is underway in Liverpool Bay. > Foundations consist of a steel monopile between 60 70 metres long and 6-7 metres wide and a yellow transition piece. > These components are fabricated in Europe and arrive into our base harbour port facility in Birkenhead by barge. > The foundations are being installed using the heavy lift vessel, Stanislav Yudin and later Friedrich Ernestine.

Seabreeze Installation Vessel