Gwynt y Môr Offshore

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 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 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 forward- looking 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.

RWE Offshore Capital Market Day | 12 September 2012 Evolution of RWE Innogy’s offshore wind projects: North Hoyle and Rhyl Flats

North Hoyle Rhyl Flats

Commissioning 2004 2009

Capacity 60 MW 90 MW

Turbines 30 V80 25 Siemens 3.6MW v107

RWE Offshore Capital Market Day | 12 September 2012 Operational performance track record

Load Availability

40% > Target technical availability for offshore wind currently at 93% (onshore wind 35% at ~97%)

30% > Both North Hoyle and Rhyl Flats show 25% recent outperformance

20% > Commercial availability influenced by 15% events outside operator’s control, ie turbine outage 10% 2004 2005 2006 2007 2008 2009 2010 2011 2012 > However, warranty contracts from North Hoyle Rhyl Flats turbine manufacturers guarantee

> Average load factor of 34% – 36% commercial availability under warranty contract for at least 5 years > Significantl y below average wind year of 2010 followed by much better wind yields in 2011

RWE Offshore Capital Market Day | 12 September 2012 Lesson learnt from Rhyl Flats and Greater Gabbard

Lessons Learnt Application at Gwynt y Môr

> Contract Strategy > Multi-contracting

> Working Relationship with Suppliers > Built strong relationships

> Location and Conditions > Met mast data and experience

> Installation Vessels > Purchased Seabreeze vessels & Market Engagement

> Health Safety and Environment > HSE management systems

RWE Offshore Capital Market Day | 12 September 2012 Gwynt y Môr: Overview of Asset

Asset summary Geographic location

Off the north coast of , United Kingdom Location - within the Liverpool Bay area of the Irish Sea.

Asset History Crown Estate Awarding 2003

Licensing UK Crown Estate Round 2 Round 576MW (approx. 400,000 homes), monopile Turbine Capacity Met mast construction Layout Turbines 160 x Siemens 3.6MW Gwynt y Môr Capex Offshore Wind Circa €2bn Farm (expected 2014) Commissioning 2013 - 2014 North Hoyle Rhyl Flats Offshore Wind Speed ~9m/s mean at hub height Offshore Wind Farm Hoylake Wind Farm Load Factor 38.6% (net)

Est. Output 973.6 GWh / annum Prestatyn Llandudno Rhyl ROC Banding 2.0x ROCs per 1MWh output Colwyn Bay Conwy Abergele Inst. Base Cammell Laird & Port of Mostyn Llanddulas Ops. Base Port of Mostyn Flint Bangor Llanfairfechan Distance to 13 to 15 km off the North Wales coast Shore Water Depth Between 12 and 28 metres at LAT

RWE Offshore Capital Market Day | 12 September 2012 Gwynt y Môr: Project management

> Large scale project: ~ €2 billion RWE Contract Strategy > Multi-contract approach: 100+ contracts Environment & consents > Main Contracts: WTGs – Turbines: Siemens (Denmark) WTG foundations – Foundations: EEW/Bladt (Germany/Netherlands) Substations & grid connection – Offshore Substation x 2: Siemens (UK) Onshore cables – Onshore Substation: Siemens (UK) Export cables – Export cables: nkt cables (Germany)

– Inter-array cables: Draka (Norway) Array cables

> RWE’s own Seabreeze Vessel Ports & logistics

RWE Offshore Capital Market Day | 12 September 2012 Gwynt y Môr: Project timeline and key milestones

Key points Expected timeline

> Turbine Supply 2010 2011 2012 2013 2014 Agreement signed in Q2/2010 Onshore Construction Works > WTG Foundation Supply Agreement signed WTG Foundation Installation Q4/2010

> WTG Foundation Offshore Substation Installation Installation Vessels available at port Q3/2012 > WTG installation begins Grid Connection (National Grid) Q2 2013 from Port of Mostyn Subsea Export Cable Installation > OFTO asset transfer in Q4/2013 Subsea Array Cable Installation > First generation in Q2/2013 WTG Installation > Full commissioning concluded during 2014

RWE Offshore Capital Market Day | 12 September 2012 Gwynt y Môr: Capex profile

Envisaged cash outflow profile of €2 bn project capex

100%

90%

80%

70% Capex split 60%

50%

40%

30%

20%

10% Turbines Cables & grid connection Foundations Other 0% 2009 2010 2011 2012 2013 2014

RWE Offshore Capital Market Day | 12 September 2012 Gwynt y Môr: Progress so far

First TP Installed > Onshore substation

> Export cable/Onshore cable

> Offshore Substations

> WTG Foundations

> Seabreeze/Stanislav Yudin

> Cammell Laird – fully mobilised

> Mostyn – preparation for is Spring 2013

RWE Offshore Capital Market Day | 12 September 2012 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.

RWE Offshore Capital Market Day | 12 September 2012 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.

RWE Offshore Capital Market Day | 12 September 2012 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.

RWE Offshore Capital Market Day | 12 September 2012 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.

RWE Offshore Capital Market Day | 12 September 2012 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.

RWE Offshore Capital Market Day | 12 September 2012 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.

RWE Offshore Capital Market Day | 12 September 2012 Seabreeze Installation Vessel

RWE Offshore Capital Market Day | 12 September 2012