OVERVIEW OF PUBLIC ASSURANCE ACTIVITIES DURING 1 JANUARY 2016 – 30 JUNE 2017

TO: NUON ENERGY PUBLIC ASSURANCES FOUNDATION FROM: MANAGEMENT BOARD OF N.V. NUON ENERGY SUBJECT: OVERVIEW OF ACTIVITIES DURING THE PERIOD 1 JANUARY 2016 – 30 JUNE 2017 RELATED TO THE PUBLIC ASSURANCES DATE: 6 OCTOBER 2017

Introduction

On 1 July 2009, Vattenfall AB acquired from the N.V. Nuon Energy shareholders 49% of the outstanding share capital as a first tranche. Part of this transaction was setting up a foundation to safeguard Nuon Energy Public Assurances for a period of at least eight years. This foundation is called ‘Stichting Nuon Energy Public Assurances Foundation’. In 2011, 2012, 2013 and 2015 additional shares were acquired by Vattenfall. As of 1 July 2015 Vattenfall holds 100% of the outstanding share capital of N.V. Nuon Energy. The Public Assurances will remain applicable for a period of at least 8 years, unless stated otherwise, after completion (1 July 2009), irrespective of whether the A-shareholders (being the former shareholders of Nuon Energy) hold any shares. The agreed period of at least 8 years expired on 1 July 2017. As the NEPAF board has not received any requests for continuation of the Public Assurances after the 8 year period, the term of the initial agreement has expired and no running dissidents have been identified, the Public Assurances will no longer be applicable hereafter.

The Public Assurances are in summary the following: 1. Maintain Nuon Energy locations, including its headquarters in Amsterdam and other main locations in the Netherlands 2. Maintain the trading office in Amsterdam for at least 5 years 3. N.V. Nuon Energy will be maintained as the regional holding of Vattenfall for the Benelux, responsible for the activities of Vattenfall in the Benelux (except for Trading and Wind) 4. Keep up know-how, R&D and cooperation with institutions 5. Continuation of the Nuon brand for at least 4 years 6. Long-term strategy for renewable energy portfolio, in particular 1400 MW wind energy, a European leadership position in heat, biomass and CCS (including Magnum phase I) 7. Long-term strategy for security of supply, in particular, gas storage and gas sourcing Strategy

With this annual memorandum, the Management Board of N.V. Nuon Energy informs the Nuon Energy Public Assurances Foundation on the activities related to each of the public assurances mentioned above. In the past the memorandum disclosed activities on an annual basis. As this memorandum is the final and concluding report it discloses activities during a longer period namely 1 January 2016 −30 June 2017. A copy of this memorandum will also be made available to the Supervisory Board of N.V. Nuon Energy for information purposes.

1 I. NUON ENERGY PUBLIC ASSURANCES FOUNDATION

As part of the transaction whereby Vattenfall AB (hereinafter ‘Vattenfall’) acquired from the N.V. Nuon Energy (Nuon Energy) shareholders 49% of the outstanding share capital on 1 July 2009 as a first tranche (the Transaction) it was agreed that a foundation would be set up. This foundation is called ‘Stichting Nuon Energy Public Assurances Foundation’ (the Foundation). In 2011, 2012, 2013 and 2015 additional shares were acquired by Vattenfall. Since 1 July 2015, Vattenfall holds 100% of the outstanding share capital of Nuon Energy. The Public Assurances will remain applicable for a period of at least 8 years, unless stated otherwise, after completion (1 July 2009), irrespective of whether the A-shareholders (being the former shareholders of Nuon Energy) hold any shares. The 8 year period expired on 1 July 2017.

The objective of the Foundation is, in summary, to safeguard the Nuon Energy Public Assurances as envisaged by the agreement governing the Transaction and to give binding advice on the interpretation of the Nuon Energy Public Assurances as required under the shareholders agreement. A detailed description of the Nuon Energy Public Assurances, the status of these assurances and the progress made with regard to the assurances for the period 1 January 2016 −30 June 2017 can be found in chapter III of this document. In some cases developments that occurred after 30 June 2017 were given to complete the overall picture of the public assurances. Furthermore we note that as part of the Transaction documentation an Industrial Plan was agreed between Nuon Energy and Vattenfall. The Industrial Plan sets out several aspects of the business in the years following the Transaction.

The Foundation consists of three members. One member is nominated by the former Nuon Energy shareholders and a second by Vattenfall. A third member, the chairman, is nominated by the other two members. Nuon Energy provides the Foundation with the means necessary for it to function properly and funds the members’ expenses or reimburses them. In 2009, Jan Ploeg was appointed by the former Nuon Energy shareholders and Vattenfall is represented by Gunnar Groebler since the end of 2014. Since 2010, Aad Groenenboom holds the position of chairman. The role of the chairman is to chair the Foundation and to act as the spokesman on behalf of the Foundation. The chairman may be required to clarify, explain or defend, possibly in public, certain decisions of Nuon Energy.

The Management Board of Nuon Energy will inform the (former) Nuon Energy shareholders and the Foundation of any intended management decision or action that deviates or causes a deviation from the Nuon Energy Public Assurances. An intended decision, action or omission of Nuon Energy that could be in contravention of the Nuon Energy Public Assurances can be submitted to the Nuon Energy Public Assurances Foundation for review, by i) the shareholders (at least two shareholders who collectively held at least 5 percent or more of the outstanding and issued share capital), ii) Nuon Energy (represented by the majority of the Supervisory Board members) or iii) one director of the Foundation within four weeks of becoming aware of the decision or action or the intention to take it. The Foundation can then decide whether or not to give advice to the management of Nuon Energy. The Foundation can only give advice to i) take the decision or action, or ii) to reverse the decision or action, or, if not yet taken, not to take such action or decision and correct any noncompliance. The advice is binding on the management of Nuon Energy, except if in doing so the management would violate its fiduciary duties. If the management of Nuon Energy refuses to comply with the advice, the question of whether the management was allowed to deviate from the advice can be submitted for review by the Netherlands Arbitration Institute.

On 1 July 2015 the remaining 21% of the Nuon shares owned by the Dutch shareholders have been transferred to Vattenfall, resulting in Vattenfall being the sole shareholder of Nuon as of that date. As the Foundation was incorporated to safeguard the Public Assurances which will remain applicable for a period of at least 8 years, unless stated otherwise, after completion (1 July 2009), irrespective of whether the A-shareholders (being the former shareholders of Nuon Energy) hold any shares. As the NEPAF board has not received a request for continuation of the Public

2 Assurances after the 8 year period, the term of the initial agreement has expired and no running dissidents have been identified, the Public Assurances will no longer be applicable hereafter. Consequently the Foundation will be dissolved after the meeting between the former shareholders of Nuon and the Board of the Foundation where this memorandum will be discussed.

This memorandum will be complemented with a cover letter containing the view of the Board of the Foundation and will be distributed to the (former) Nuon Energy shareholders. As also stated in last year’s memorandum the memorandum will only cover the prevailing public assurances in the period 1 January 2016 −30 June 2017 .

II. PUBLIC ASSURANCES

Nuon Energy will keep the following Public Assurances in place for a period of at least 8 years, unless stated otherwise, after completion (1 July 2009), irrespective of whether the A- shareholders (being the former shareholders of Nuon Energy) hold any shares.

The Public Assurances are the following:

a. Maintain its headquarters in Amsterdam and its other main locations in the Netherlands in the Provinces (including the call centre in Leeuwarden) in which they are located at present; b. Maintain the trading office in Amsterdam for at least 5 years, as further described in Chapter IV, part (a) of the Industrial Plan, and maintain main functions in substance at such locations; c. Nuon Energy will be maintained as the regional holding of Vattenfall for the Benelux, which as such is responsible for the activities of Vattenfall in the Benelux, except for the trading office in Amsterdam which will at managerial level be integrated into the Pan European trading organization of Vattenfall, as further described in Chapter IV, part (a) of the Industrial Plan, and maintain main functions in substance at such locations; d. Keep up know-how and expertise required by the Group Companies to run their business as well as to develop their business in the Benelux within the Group Companies (including a Benelux R&D unit) and with access to all know-how within the Partner’s Group, including in respect of gas along the entire value chain. The Company will maintain cooperation with R&D institutes and education institutions (including universities) of good standing; e. Continue the Nuon brand in the Benelux for a period of at least 4 years as from 1 July 2009; f. Continue to pursue its present long-term strategy in respect of renewables, in particular with regard to building on a broad portfolio of renewable technologies in accordance with the Industrial Plan and remain one of the leaders in offshore wind in Europe by expanding prior to 2020 the installed capacity up to 1400 MW as described in Chapter III, part (b), paragraph (ii) of the Industrial Plan, it being understood that Nuon Energy may or may not receive the benefits (such as green rights, emission rights etc.) resulting from such investments. Nuon Energy will pursue a leadership position in Europe in biomass, heat and power production and carbon capture and storage; g. Continue to pursue its present long-term strategy in the Benelux in respect of security of supply including investments in generation capacity in the Benelux in order to maintain the current capacity level, fuel diversification strategy and strategy to obtain a secure access to gas supply, in particular by: i. committing to and implementing the already sanctioned investments in Magnum Phase I and the gas storage facilities in Epe and Zuidwending; and ii. continuing its broad gas sourcing strategy, consisting of a combination of long-term contracts, equity upstream gas, gas storage (including investments in Epe and Zuidwending project) and hub trading and the value enhancing strategy to expand

3 Nuon Energy’s existing gas upstream position to secure 10 up to 20 per cent of the combined Nuon Vattenfall Group gas demand, such ambition requiring an estimated investment of EUR 0.5 – 1.5 billion over the next 10 years to be made on a commercial basis.

III. DEVELOPMENTS DURING THE PERIOD 1 JANUARY 2016 – 30 JUNE 2017 RELATED TO PUBLIC ASSURANCES

1. General developments

Market conditions & political context

During the previous years there has been an increasing focus on the energy transition. Various initiatives have been undertaken to stimulate developments, both nationally and internationally.

In May 2016 the parties associated with the Energy Agreement announced potential additional obligatory measures to meet the targets of the 2013 Energy Agreement, since the National Energy Outlook 2015 indicated that two out of the five targets were not within reach. The Outlook concluded that three targets are within reach: the 16% share of renewable energy in 2023, an energy saving of 1.5% per year and a growth of 15,000 energy related jobs. Parties reached an agreement on an energy saving obligation in the built environment and on the implementation of an obligatory energy label C for commercial buildings as a threshold for energy performance. Furthermore it was agreed that the ISDE subsidy agreement (installed to promote small scale renewable heat solutions) would be intensified if the 2016 Energy Outlook ( Nationale Energie Verkenning ) indicates that 14% renewable energy will not be met in 2020. By the end of 2016 the progress report showed - based on the National Energy Outlook 2016 - and additional measures - that the targets of the Energy Agreement are within reach.

In November 2016 the output of the National Energy Dialogue was published. The report indicates that there is broad support in Dutch society to proceed with the energy transition that has been initiated by means of the Energy Agreement. A stable energy policy is identified as one of the prerequisites for this transition. Also the report stresses that the energy transition needs to be an integral part of spatial planning. Lastly, public support is identified as an important element in making the energy transition a success, since it will have a big impact on people’s lives.

In the same month the European Commission announced a large package of regulation on renewable energy, energy-efficiency and market regulation. This Clean Energy for All Europeans Package , sets stricter binding targets for renewable energy and energy efficiency by 2030.

In December 2016 the Energy Agenda was presented as follow up to the National Energy Dialogue. By means of this agenda the Cabinet stated how a low CO 2 energy supply in 2050 can be realized. The Dutch government wants one target to realize CO 2 emissions reduction. Additional measures next to the current European Emission Trading Scheme are needed to improve its functioning. Natural gas will disappear from the built environment through energy savings and abolishment of the gas connection obligation. The subsidy scheme for renewables will be continued as well as the offshore wind tendering system. Transforming the transport sector into a more sustainable sector is identified as important, but no additional policies have been announced. In 2017 the government started with the development of a number of transition paths to reach the goals for 2050. Specific transition paths are developed for power and light, low temperature heat, high temperature heat, mobility, food and nature. Next to that road maps are developed for spatial planning and the governance of the energy transition.

There has been a lot of political attention for the heating transition, partly triggered by the earth quakes in Groningen in the North of the Netherlands and the resulting property damage. This has

4 led to the proposal to amend the Heat law constituting that a natural gas connection is no longer obligatory for new houses. Furthermore, municipalities will have more freedom to experiment with alternatives. The heating transition will be an enormous challenge for the years ahead. Around 90% of all Dutch households (7 million) are heated by means of natural gas. All must become climate neutral within three decades.

An important development in the beginning of 2017 was the ratification of the Climate Treaty of Paris.

In March 2017 Minister Kamp of Economic Affairs signed a Green Deal with 30 municipalities, 12 provinces and 5 local network companies that enables municipalities to heat houses no longer with natural gas, but to choose for sustainable alternatives. The deal is a concrete first step to realize the Energy Agenda.

On the customer side, the market continues to be highly competitive resulting in a high churn in the Dutch market. Nevertheless Nuon has been able to address these market circumstances, mainly due to high customer satisfaction. Due to the energy transition, on the long run variable cost will no longer be of importance for production prices, since no fuels are used.

Organizational developments

In 2015 Vattenfall revised its sustainability goals following the new strategic direction. It is Vattenfall’s ambition to be a leading company in the area of sustainable production and consumption. In that light Vattenfall, in 2017 introduced its new purpose “Power Climate Smarter Living”. This means that Vattenfall is determined to help all of its customers power their lives in ever climate smarter ways and free from fossil fuel within one generation. The strategic direction of Vattenfall is based on this new purpose and is amongst others reflected in the goals to grow in renewables, wind farms but also solar PV solutions and the development of the position in decentralised energy like heating.

Divestments/Stop continuation of business

As part of the continued focus on core markets and products, decisions have been made concerning the (intended) divestment of a number of assets and activities. These decisions (will) contribute to the financial flexibility and environmental targets of the company:

• Buggenum In December 2012 Nuon announced the intention to close the Willem-Alexander power plant in Buggenum. The 253 MW Willem-Alexander power plant was taken into operation in 1993 as a coal gasification demonstration plant. Due to the rapidly deteriorating market conditions, operation of the plant was no longer profitable. Plans to co-fire biomass on a large scale were not realistic, given the high levels of subsidy required. On April 1st 2013 Nuon closed the Willem-Alexander power plant. For the 130 employees involved the Social Plan was applicable. At the end all of the colleagues found another future, partly as a result of an intensive searching and coaching program. In February 2014, Nuon signed a contract for the demolition of the Buggenum power plant, including selling parts, which was finalized end of 2015. The remaining land was sold to two parties. In February 2017 the cooling water channel was sold and handed over and in March 2017 the Buggenum plant area was sold and transferred to the new owner.

• Almere-1 and Almere-2 Following the construction of the heat pipeline from Diemen to Almere in 2012 and the commissioning of Diemen-34 in the summer of 2013, the Almere-1 as well as Almere-2 power plant have formally been withdrawn from the grid. Almere-1 has been demolished according to plan and the demolition of Almere-2 has been put on hold as the Almere-2

5 gas turbine was determined to be reused in the black start concept for Nuon’s Eemshaven location. The gas turbine and its generator were transported to Eemshaven in July 2017 were they will be installed. It is expected that they will be ready for operation before the end of 2017. With the gas turbine and its generator transported the demolition of the Almere-2 plant will be started.

• Heat grids The strategy of BA Heat focusses on heat operations in metropolitan areas, where the company has a high market share and where significant growth potential is possible. After a strategic review key regions for the supply of heat via large district heating systems were identified. According to this focus strategy Nuon divested five smaller grids based on small-scale CHP’s, Island grids. A Sale Purchase Agreement was signed in 1 September 2016 followed by transfer of the assets per 2 January 2017. The transaction had no effect on FTE’s.

• Industry Parks After a strategic review within Business Area Heat it was decided to divest the Industry Parks in the Netherlands and in Germany given the limited link with Nuon/Vattenfalls core activities. The project was already initiated in 2012 with a subsequent sale of the Industry Parks. After a lengthy process Nuon reached an agreement to divest the German Industry Park to one of the largest water and waste companies in Europe at the end of 2015. The Share Purchase Agreement was signed at the end of 2015 and closing. took place in the second quarter of 2016 with retrospective effect per 1 January 2016. In Q3 2016 Nuon was also able to reach an agreement to divest the Dutch Industry Park Emmtec. Emmtec was transferred to a German energy services company per 1 January 2017 effectively. All employees were transferred to the new owner.

• Wind farm De Horn beheer B.V. After a strategic review of the onshore wind parks in the Netherlands a number of wind parks was identified for which a sale or a swap was considered. Given the size of wind park De Horn, limited strategic fit, absence of repowering possibilities and Nuon/Vattenfall having no operational control of the park, divestment opportunities were investigated. This resulted in the sale of Nuon’s shares per May 2016. No FTE’s were affected by the transaction.

2. Maintain its headquarters in Amsterdam and its other main locations in the Netherlands in the provinces in which they are located at present

The Industrial Plan states that the headquarters of Nuon Energy will continue to be in Amsterdam as the headquarters for the Business Group Benelux. Business Group Benelux stopped when Vattenfall was reorganized from a geographical based set-up to a business led organization.

The Amsterdam head office is in use for almost 4 years, since December 2013. The office is located next to the train station Amsterdam Bijlmer-ArenA, The office is connected to Nuon’s own district heating- and cooling network, the building carries the BREEAM label ‘Very Good”. Nuon has managed to reduce the parking capacity from 1250 at the former headquarters to 530 parking lots, mainly due to the fact that the office is located nearby a public transport hub.

Concerning the regional offices in the Netherlands, the Industrial Plan states that these will be kept at their current locations and that the call centres will remain in the provinces in which they were located as of July 2009. The main developments in 2016/2017 include: • The colleagues in Leeuwarden will move to a new location in 2017 located in the city centre of Leeuwarden in a refurbished monumental building, at walking distance from the train- and bus station. The quality of the working environment will improve drastically. The lease contract runs until 2022.

6 • The lease contract for Arnhem Rijnpoort has been extended until 31 December 2019. • The contract in Alkmaar expires in 2019.

3. Maintain the trading office in Amsterdam for at least 5 years

As stated in the overview since 2014 the memorandum will focus on the Public Assurances that are still applicable. Since the acquisition by Vattenfall of an initial tranche of Nuon shares (1 July 2009), the energy trading activities of Nuon/Vattenfall have been integrated in one Business Area. The applicable period of this Public Assurance has passed, therefore no additional information will be provided.

4. N.V. Nuon Energy will be maintained as the regional holding of Vattenfall for the Benelux, responsible for the activities of Vattenfall in the Benelux (except for Trading and Wind)

The Netherlands is identified as a core country in the Vattenfall strategic direction. As operations remain to be locally based, local presence is seen as essential in order to a.o.: • keep up with local developments, • maintain and expand relations with (local) authorities and • to assure accurate involvement in regulatory and financial frameworks.

This is recognized by Vattenfall, therefore the Chief Executive Officer of Nuon Energy is also appointed as Country Manager for all operations in the Netherlands within the Vattenfall organization.

Peter Smink has been appointed Chief Executive and Financial Officer of Nuon Energy as per 27 November 2013 and fulfils the role of Country Manager. During 2016 and till date Peter Smink is also responsible for the Special Projects division of Vattenfall, including the sale of the lignite related activities in Germany and the outsourcing of service related activities within the Group. As of 1 January 2014 Martijn Hagens has been appointed as Chief Operational Officer of Nuon Energy. He is also responsible for the Business Area Customers & Solutions and in this role is part of the Executive Group Management of Vattenfall.

With the double hatted functions of the Management Board members Nuon Energy benefits from the European dimension of the Vattenfall group while maintaining its Dutch culture when it comes to interaction with our employees, the environment and society at large.

5. Activities to keep know-how and expertise and to maintain cooperation with R&D institutes

Vattenfall's Research and Development (R&D) activities contribute to the development of tomorrow's energy system. R&D is aimed at identifying, developing and ensuring the implementation of value adding technical solutions that support the strategic needs of Vattenfall and its business units. As a complementary task, R&D supports Vattenfall's business units with technical problem solving, testing and verification. Vattenfall R&D is organised into various R&D portfolios. These portfolios are defined around technology areas such as wind, hydro, customer products and solutions and smart grids.

For the coming years Vattenfall will focus on R&D projects in the following areas: • Technical foundation of customer products and solutions, e.g. smart homes and electrical transportation • Flexible production, networks and consumption (demand side management), including smart grids

7 • Strategic challenges in core business, e.g. ageing issues in nuclear and wind power production estimates

Last year, Vattenfall has updated, renewed, continued and engaged contacts with main universities and other research partners. Specific R&D discussions have been held with University of Technology in Eindhoven and University of Twente. Vattenfall/Nuon has engaged itself in various innovation projects as have been driven by the TKI’s (Topconsortia voor Kennis en Innovatie) in the energy top sector as defined and supported by the Dutch government. Since 2015 for example Nuon participates actively in the CETT program (Community of Energy Top Talents). CETT is one of the scholarship programs of the energy sector and is an important pillar of the Human Capital Agenda of Topsector Energy that strengthens the connection between education and innovative business.

The following areas and projects are of importance for Nuon Energy:

E-mobility Nuon has expanded its public charging network in cities by 100% compared to the end of 2015. The public charging network in the Netherlands, particularly in Amsterdam, Utrecht and in the Metropolitan Area Amsterdam, has expanded to 3000 charging points and supplied more than 3.800.000 kWh of green electricity to electric vehicles (equalling 19 million electric kilometres) in the first half of 2017. Nuon, in partnership with Heijmans, closed new contracts for public charging point networks with the provinces of Noord-Brabant and Limburg ensuring expansion of public charging networks with another 2500 charging points. All public charging points are supplied with electricity from local wind farms operated by Nuon.

Apart from the public charging solutions, Nuon also provides various home and business charging solutions.

Energy management More and more Nuon customers have had a smart meter installed over the past years. The vast majority of customers gives Nuon an opt-in to collect their smart meter data. To these customers Nuon offers the possibility to get insight into their smart meter data for electricity and gas on a very detailed level: quarter-hourly for electricity and hourly for gas. The insight is offered for free both in the MijnNuon web environment as well as the MijnNuon app. Moreover, Nuon continuously develops and tests new solutions based on smart meter data to provide our customers even better, more relevant and more personal insight into their energy usage.

Nuon Next Following an employee initiative, Nuon has launched a platform for its employees to share and work on new innovative ideas for the company. Nuon Next is very well received by employees and initiatives vary from technical improvements to customer propositions. During the year the best ideas are presented to a jury, including the Management Board. The jury will decide which ideas will be taken on by the company. A number of ideas have already been implemented, for example the replacement of defective lamps in the power plants by LED lights and the Zon Samen initiative installing solar panels on Nuon-owned roof tops funded by Nuon employees.

Yellow & Blue Yellow&Blue Clean Energy Investments B.V. (“Yellow&Blue”) is an independent investment fund founded and financed by Nuon Energy. The fund was started in 2008 and focuses on development stage clean energy companies operating in Europe. The Yellow&Blue portfolio companies per 1 January 2017 are given below:

• Locamation Beheer B.V. • Cuculus GmbH • Triogen Group B.V.

8 • Topell Energy BV • ROMO Wind

As per 2013 the committed investment term ended. Based on current market circumstances Vattenfall decided not to enter into additional commitments. In line with the initial plans, Vattenfall reviewed divesting opportunities for the participations to parties that can bring the companies to the next stage in their development. At this moment agreements to divest Locamation Beheer B.V. and Cuculus GmbH have been signed. For the other three companies mentioned above negotiations are in an advanced stage. It is expected divestment will be realized on short term.

6. Cooperation with education institutions

Nuon continued the cooperation with several education institutions in order to attract, educate and ‘upgrade’ qualified personnel.

• Step2Work In the period 1 January until 1 July 2017, 42 new work-experience places have been realized by Nuon Energy’s work-experience program Step2Work. Again about 30% of these new participants had learning and/or physical disabilities. In this period over 70% of the participants that left the Step2Work-programm did this with a subsequent job.

The innovating approach to tackle youth unemployment, I-MPOWER, introduced in 2014 and continued in 2015, started her third edition in 2017. The programme was again initiated in co-operation with Alliander and Philips, but in 2017 also with Randstad and Manpower. A new group of 12 youth-coaches started in May 2017. The first two I-Mpower-projects have achieved their target: in total almost 180 unemployed youngsters (edition 2014 ; 76 and edition 2015; 103) were successfully guided to work and/or school. The aim for the new project is again to guide 100 unemployed youngsters successfully to work or further education to be able to work as traffic warden or security guard. In 2017 another Step2Save-project was started in Amsterdam. Ten work-experience places (energy-advisors) are connected to this project, in co-operation with the municipality of Amsterdam. Goal of the project is realizing 4000 energy-advices in households in Amsterdam North within 12 months, contributing to the climate-goals of saving energy.

Furthermore Nuon, like previous years, was an active partner of Giving Back, Jinc and Opportunity in Bedrijf, among others by providing mentors for the programs these organizations run.

• Energy transition and technical studies In 2016 and 2017 Nuon was partner of the Topsector programm CETT (Community of Energy Top Talents). This grant-program builds a network in which master-students and companies collaborate intensively on the energy transition. Students act as ambassadors for the energy sector and at the same time have the opportunity to get to know the sector better.

In 2017 Nuon was also partner of the TuE-contest and the UT Challenge. These programs, ran by the University of Technology in Eindhoven and University of Twente, challenge their students to pitch their innovative idea, prototype, school or research project and co-create it together with the partner-companies within the networks of the contests.

• Nuon Solar Team Since 2001 Nuon Energy has been the main sponsor of the Nuon Solar Team. Nuon supports the team, consisting of students from Delft University of Technology, with the construction of solar car Nuna and their participation in the biannual World Solar

9 Challenge in Australia. In 2016/2017, the team build a brand new solar car, with again the newest and modern technical parts which are necessary to gain the top position. In October 2017 they will participate for the 9th time in the Bridgestone World Solar Challenge in Australia with Nuna9. The Netherlands is the leading country in this race with 3 teams among the participants. Nuon is proud to be the sponsor of one of them. The technology and the race itself are getting more and more attention over the world and are therefore every year more professional.

The Nuon Solar Team sponsorship is used in PR and commercial settings when suitable. In 2017 Nuon organized together with the students several events, amongst others journalists were invited to the building place of Nuna in Zwolle, for their car presentation and the team set a world record solar racing in 12 hours on 21 June 2017.

The contract with the Nuon Solar Team is drafted for every separate edition, and the sponsorship is evaluated every edition by Nuon. At the end of 2017 a decision about a possible Nuna10 will be expected.

• Cooperation for internships Nuon Energy has several cooperation programs with Intermediate Vocational Education (MBO) institutes. These include Nova College Haarlem and foundation AOT North. Last year, Nuon offered approximately 20 students of both institutes an internship. Moreover, Nuon Energy closely cooperates with Higher Professional Education (HBO) and Universities to secure a constant inflow of interns for the Business Areas like Heat, Wind and Customers and Solutions.

• Foundation ‘Leer werken in de techniek’ In order to safeguard well-qualified new technical personnel Nuon is a partner of the foundation ‘Leer werken in de Techniek’ which was founded in 2009. Other partners of this foundation include a number of ROCs and companies like Afval Energie Bedrijf Amsterdam, Cargill B.V. and Waternet. The partner companies offer internships and potentially jobs to technical students at ROCs that participate in the foundation. The ultimate goal is to make students interested in taking a technical job in order to guarantee enough new skilled technical personnel. Nuon Energy is participating in three programs of the foundation.

• Amsterdam Centre for Entrepreneurship As of 1 January 2016, Nuon became sponsor of the Amsterdam Center for Entrepreneurship (ACE). ACE stimulates entrepreneurship among students and young researchers with education and incubation programs. ACE is a joint venture of the University of Amsterdam (UvA), VU University (VU), Hogeschool van Amsterdam (HvA) and the Amsterdam School of the Arts (AHK).

The partnership between Nuon and ACE manifests itself, in addition to financial contribution, particularly in the fields of education and knowledge valorisation - the process that converts knowledge into commercially viable products, processes or services.

7. Continuation Nuon brand for at least 4 years

As stated in the overview since 2014 the memorandum will focus on the Public Assurances that are still applicable. Since the acquisition by Vattenfall of an initial tranche of Nuon shares (1 July 2009), the Nuon brand has been maintained. The applicable period of this Public Assurance has passed, therefore no additional information will be provided.

10 8. Long-term strategy for renewable energy portfolio, in particular 1400 MW of wind energy, a European leadership position in heat, biomass and CCS (including Magnum)

As described in §1, the European energy market is becoming increasingly challenging. Electricity prices are decreasing and new competitors are emerging. In order to face this challenging market and deliver on set targets, Vattenfall has defined four strategic objectives. One of the objectives is to be leading towards sustainable production. Vattenfall has an ambitious growth strategy in renewable energy production. Vattenfall focuses on the development of large-scale wind projects to expand its wind portfolio economies of scale can be utilized. Furthermore, possibilities to carry out projects in partnerships are becoming increasingly important.

Wind Wind energy plays a very important role in the Group Strategic Direction of Vattenfall. The company’s long-term objective is to become a leading developer and operator of wind power in North-western Europe. This objective is integrated into the strategy for wind. The vision of BA Wind is to lead the industry into a profitable but highly competitive future, to double the operation portfolio in three years and to create attractive options for continuous growth. The aim is to add 400 to 600 MW of gross capacity per year to the asset base. The 1400 MW target, as defined in relation to the Transaction, is thereby covered. Vattenfall strives for a balanced project portfolio and aims at developing wind projects where circumstances are most ideal. Individual projects, both onshore and offshore, are evaluated on commercial grounds and the availability of the required funding.

Onshore wind In the Netherlands, the signing of the Energy Agreement in 2013 resulted in a strong commitment from the government to wind energy, both onshore and offshore. Regarding the governmental onshore wind target (6.000 MW in 2020) all provinces made huge progress since 2013. However, by now it is clear that the 6.000 MW onshore target will not be reached in time. It is expected that between 4.500 and 5.000 MW will be realized before the deadline. Several projects face delays due to local resistance and reluctance of swift decision making by the responsible authorities. By the end of 2016 Nuon had 208 MW (divided over two projects) in the procurement phase and preparing for investment decision in 2017. On top approximately 300 MW (divided over 7 onshore projects) in the phase of permit preparation or permit application.

The biggest project in the Dutch portfolio is project Wieringermeer, in the province of Noord- Holland. In the development of wind farm Wieringermeer Nuon is partnering with ECN (the Dutch Energy Research Institute) and Windcollectief Wieringermeer, a collective of 32 farmers. Wind farm Wieringermeer will increase the wind power capacity in the area from 106 MW to over 350MW, depending on the type of turbine selected. It will be amongst the largest onshore wind farms in the Netherlands and supply around 250,000 households with renewable energy. Thereby this plan represents a substantial contribution towards the governmental target of 14% renewable energy by 2020. Nuon, together with local partners, secured 50 turbine positions, equaling 180 MW. In 2016 all critical permits became irrevocable, after a positive decision by the Court of State. Together with the already in 2015 secured subsidy, this made the project ready for starting up the procurement phase. The project investment decision was taken in September 2017.

Also wind farm Slufterdam, situated on the Slufterdam in the Maasvlakte area in the province of Zuid-Holland, made good progress during 2016. This is a repowering project in which Nuon cooperates with utility company Eneco. The total project concerns 14 turbines of which Nuon will own 8 turbines. This brings the total capacity for Nuon to 28,8 MW. During 2016 procurement for the turbines and the civil and electrical works took place. In June 2017 Nuon/Vattenfall took a positive investment decision on Slufterdam. Project delivery started after the summer of 2017.

Both the Wieringermeer and the Slufterdam project are repowering projects. This means that existing wind energy sites are being repowered and extended by using new turbines, thereby

11 increasing the level of production. Besides the development of a number of new sites, Nuon is investing in repowering projects since the opportunities to expand onshore wind power in the Netherlands are affected by a limited availability of new production sites. Besides this relative scarcity of available space, public acceptance stays a crucial bottleneck.

During 2016 the projects Moerdijk (7 turbines) and Middelharnis/Haringvliet (6 turbines) had several public hearings and permit applications were sent in. Both projects have issued a request for subsidy in March 2017. For five other projects (Blauw, Ny Hiddum Houw, Eemshaven-West, Nieuwe Hemweg and Jaap Rodenburg) permit preparations are started in order to apply for permits in 2017 or 2018.

Also in 2016, the construction continued of Nuon’s onshore wind project Pen y Cymoedd, located in South Wales, United Kingdom. This 228 MW wind farm, consisting of 76 turbines, started operations by the end of 2016.

Offshore wind In the Energy Agreement offshore wind has been identified as one of the key technologies to achieve the renewable energy targets. The total offshore wind energy capacity is planned to increase to 4450 MW by 2023. Currently, total capacity installed is approximately 357 MW, with another 600 MW under development. In September 2014 the Ministry of Economic Affairs announced a road map for offshore wind to reach the 2023 target. In the period 2015-2019 each year 700 MW should be tendered for which three areas are allocated. The winner receives exclusivity on the concession area and a SDE+ subsidy. The Energy Agreement assumes that it will take four years between subsidy award and the start of the operational phase. Therefore the last 700 MW to be tendered in 2019 will be operational by 2023.

The first tender round (Borssele 1 + 2) was originally planned to open at the end of 2015, but was delayed into 2016. In order to still reach the 4450 MW target by 2023, two tender rounds (Borssele 1 + 2 and Borssele 3 + 4) were held during 2016. Nuon/Vattenfall participated in both Borssele tenders but has not been successful. This year the first out of two tender rounds for the location Hollandse Kust is expected to take place. However, the government is currently working on a new set of tender rules facilitating a 0€ bid, following the outcome of recent tenders in Germany.

Development of Vattenfall’s wind portfolio Despite the unfavourable market conditions, Vattenfall continues to have an ambitious growth strategy regarding wind energy. Since Vattenfall strives for a balanced project portfolio and aims to develop wind projects all over Europe where conditions are most ideal, Vattenfall focuses on Denmark and the UK in addition to its three core markets Sweden, Germany and the Netherlands. Today, Vattenfall is the world’s second largest operator of offshore wind power, with some 500 turbines operating in Sweden, Denmark, Germany, the Netherlands and the United Kingdom, divided over 11 wind farms. Furthermore, Vattenfall operates 580 onshore facilities in Sweden, Denmark, Germany, the Netherlands and the UK. In 2016, Vattenfall's wind farms generated around 5.9 TWh of electricity which equals the electricity consumption of almost 2 million households. Next to the developments described above, the main developments that took place in 2016 and the first half of 2017 were the following: • The offshore wind farm Kentish Flats Extension in the UK had its official opening in June 2016. This wind farm consists of 15 wind turbines of 3,3 MW each and is positioned 7 kilometers out of the Kentish coast. • Already in 2015 Vattenfall won the concession to build and operate the offshore wind farm Horns Rev 3, with a total capacity of 400 MW. In 2017 construction started on the turbine foundations. The wind farm will produce electricity for 450 000 Danish households from 2019. Start of commercial operation is planned for 2018. • In September 2016 Vattenfall has won the Danish near-shore wind tender with a highly competitive bid. In the Danish near-shore tender, there were five possible locations and Vattenfall bid for two sites on the west coast of Jutland. On these two sites Vattenfall will

12 build two offshore wind farms with a total capacity of 350 MW. These wind farms will provide sustainable energy for 375,000 households. • From September 2016 Vattenfall’s offshore wind farm Sandbank (72 wind turbines, 288 MW) is supplying the German electricity network with wind power from the North Sea. The installation of wind turbines for Sandbank in the German North Sea started in late July 2016 and in January 2017 all wind turbines were installed. • Early 2017 the commissioning was finalized of onshore wind farm Ray. This 54 MW project situated in the North of England is now fully operational and supplies green electricity to 30.000 households.

Since the set-up of the Foundation in 2009 Vattenfall has added over 1300 MW of wind capacity to its portfolio. Where the total installed capacity, both onshore and offshore, was 859 MW in 2009 it was equal to 2161 MW by mid-2017 (figures based on the Vattenfall share of ownership). Due to this the company has realized a growth in the installed wind power capacity of more than 250%.

District heating and cooling Nuon Energy Heat uses a large amount of residual heat from combined heat and power (CHP) plants, waste incineration plants and district heating plants. The use of residual heat from industry or electricity production can make a big contribution to the reduction of the discharge of heated water. It thereby improves the overall efficiency of the plants and reduces CO -emissions. 2 Residual heat is used to heat large residential districts and industrial parks. By using this residual heat as central heating, homes do not need a central heating boiler and do not have to use gas for heating. Homes with district heating emit around 50 to 80% less CO 2 than those heated with a standard high-efficiency heating gas boiler. Also at industrial parks, delivery of residual heat replaces the use of heating boilers. Nuon is active in three key regions for the supply of heat via large district heating systems: Rotterdam-Leiden, Amsterdam-Almere and Arnhem-Nijmegen. Following the strategy of focus on the key regions Nuon divested per 1 January 2017 several smaller grids based on small-scale CHP’s (so called “island grids”).

In 2016, Nuon has realized a growth of approximately 5.400 dwelling equivalents connected to district heating. The sale of the island grids portfolio led to a decrease of approximately 2.800 dwelling equivalents. As a result, the net increase approximated 2.600 dwelling equivalents. At year end Nuon delivered district heating to approximately 122.000 households and 1.800 business customers.

The main developments that took place during the reporting period were the following: In Spring 2017 Nuon published its second CO2 reduction report (http://co2- reductierapporten.nuon.com/) in which transparency is provided on the CO 2 reduction realized in 2016 by means of the district heating networks. The figures show a reduction of 209.134 tons of CO 2 emissions. All figures were checked and approved by TNO.

In the spring of 2015 Nuon and AEB Amsterdam started the construction works for the project Noorderwarmte. This project encompasses the construction of a heat transportation pipeline with a length of 16 km between the waste incinerator of AEB Amsterdam and the IJdoornlaan in Amsterdam-North. After completion new and existing houses in Amsterdam North will be supplied with residual heat from the waste incinerator. The project was finalized in the autumn of 2016, official opening took place in June 2017. The construction of a permanent gas-fired peak and backup boiler facility in Nijmegen Waalsprong was completed at the end of 2015. The temporary gas fired boilers, which used to serve as backup for the residual heat delivery from the waste incineration plant of ARN in Weurt, have been removed. The official opening of the new boiler facility has taken place in March 2016. Because of the continuing growth in heat demand in the Waalsprong area, space is reserved in the facility for the installation of additional boiler capacity in the future.

13 In the beginning of 2017 the city deal Amsterdam was signed by the municipality of Amsterdam, housing corporations, Alliander, Nuon and Westpoort Warmte stating the ambition to realize a city without natural gas heating by 2050 and taking concrete steps in order to achieve this goal. A similar ambition statement was signed for Rotterdam in May 2017 with the municipality, housing corporations, Stedin, Nuon and Eneco.

Solar energy Vattenfall has a diversity of energy sources; during 2016 and 2017 also solar energy was part of the portfolio.

Large scale solar projects In the previous years Vattenfall has been substantiating its strategy on large scale solar energy. Solar can be considered as a proven technology and costs are coming down fast. Solar is therefore a growth area for Vattenfall. As of 1 July 2017 a business unit Solar has been installed working dedicated on utility scale and decentral solar projects. To create synergies various solar projects are developed on or next to existing Vattenfall production locations. Already at the end of 2015 a final investment decision was taken on the installation of a 5 MW solar farm located right next to the operational wind farms Pendine and Parc Cynog in the UK. The wind farm’s roads will be used for transport and the existing grid access enables joint feed-in from both solar and wind. Furthermore, the project can built upon the good relations with the land owners. The solar power farm became operational in March 2016 and provides renewable power to 1440 homes based on a UK power consumption average.

In the Netherlands, Nuon has been looking into the possibilities for the installation of solar farms next to a number of conventional power plants. Permits have been awarded for the installation of large scale solar power on both the Hemweg in Amsterdam, the Velsen power plant and the Magnum power plant in the Eemshaven. All three projects have successfully applied for SDE+ subsidy. Installation is expected to start early 2018.

Furthermore, various permits are currently in procedure for various solar projects near existing wind farms or in the vicinity of wind projects still in development. A 35 MW solar project near wind project Haringvliet, recently got permitted. In December the permit application will be submitted for a 35 MW solar farm in the Wieringermeer area.

Solar energy for consumer clients Nuon offers a special energy contract for customers that already own solar panels (Nuon Groen met ZonBonus ). To support this group in its focus on renewable energy, these customers receive an additional financial incentive, the so-called ZonBonus for the solar power delivered to the grid. This bonus comes on top of the standard compensation for renewable energy. Furthermore, Nuon provides consumers with the opportunity to lease solar panels, in cooperation with the startup company Solease. This way, solar energy becomes available for more consumers, since only a monthly fee is required instead of high one-off investment costs. In 2015 Nuon introduced the so-called Energy roof. The Energy roof is a combination of solar PV panels and insulation. With one product the consumer can decrease its energy demand and increase its own electricity production.

Solar energy by employees During 2015 the Zon Samen -project was initiated by a number of employees. Zon Samen is an innovative participation model in which employees could invest in the installation of around 1300 solar panels on the Amsterdam Nuon headquarters and the Hemweg power plant. The initiative proved to be a great success. Employees were willing to fund the whole required investment of 450.000 €. The benefits of the project are two-fold: the Nuon locations will be able to make use of the renewable energy produced and the employees receive an attractive return on their investment. The Hemweg project was commissioned in December 2015. The solar panels on the Amsterdam office became operational by February 2016. Currently the concept is being discussed with several B2B customers and municipalities.

14 Biomass In the context of the Energy Agreement a SDE+ subsidy for biomass co-firing was applied for by Nuon in 2016. Unfortunately, the maximum of 25 PJ co-firing was already reached that year, with the result that this request for subsidy was not awarded. Consequentially, the co-firing project on Hemweg 8 has been terminated. Whether there will be any other project on biomass in Hemweg 8 (e.g. 100% biomass) depends on the decisions the new Dutch government will take on possible closure of coal plants in the Netherlands.

CCS As a result of the challenging market conditions Vattenfall has reconsidered it’s R&D strategy. It has been decided to only focus on R&D projects that are expected to be beneficial to the company in the near future. As a result projects in the field of coal power with Carbon Capture and Storage (CCS) have been discontinued.

CCS at Magnum The Nuon Magnum Integrated Gasification Combined Cycle (IGCC) power plant was intended to be built in two phases. Phase 2 of the Nuon Magnum project entailed a coal and biomass fired power plant based on gasification technology (IGCC) including CCS. This process enabled application of pre-combustion carbon capture. The overall plant design included the possibility of using different fuels such as natural gas, biomass, and coal leading to increased security of supply and operational versatility. In April 2011 it was decided to delay the final investment decision and initial operation of Magnum phase 2 until after 2020. Aside from economic considerations, this decision was the result of a long-running constructive dialogue with nature and environmental organizations and local interest groups. In March 2016 it was decided to fully cancel Magnum Phase 2 and to focus on a low carbon future for Magnum.

Following this new strategic direction for the power plant Nuon invested in a renewable ammonium project. Early 2017 this “Power to Ammonia” study was completed. It was executed in a partnership between the Dutch Institute for Sustainable Process Technology (ISPT), Stedin Infrastructure Services, Nuon, ECN, Delft University of Technology, University of Twente, Proton Ventures, OCI Nitrogen, CE Delft and Akzo Nobel. In the study the large scale storage and import of renewable energy by using ammonia as a hydrogen based energy carrier has been analyzed. Before combustion the ammonia is converted back into hydrogen and nitrogen. This would enable Magnum to produce electricity without CO 2-emissions in periods of insufficient renewable electricity production. The conclusion is that this method is feasible from a technical point of view, but requires financial support to be also viable from an economical perspective.

In parallel to the Power to Ammonia research a complementary development was initiated together with Statoil and Gasunie to create a carbon neutral fuel supply chain by producing hydrogen from natural gas with CCS and use the hydrogen as a fuel in Magnum. The CO 2 will be stored offshore in Norway. This development is currently still in progress. The target completion date for a full conversion of one of the three Magnum units from natural gas to hydrogen is 2023. The project is considered as an important enabler for the development of an hydrogen economy in which on the long term more and more renewable hydrogen will be introduced. In line with this Nuon is supporting two research projects of TU Delft. One concerns the battolyser: a combined battery and electrolyser for efficient and low cost hydrogen production from electricity. The second project concerns the direct electrochemical conversion of electricity, nitrogen and water into ammonia by means of the solid state ammonia synthesis (SSAS), enabling flexible ammonia production from renewable electricity.

15 9. Long-term strategy for security of supply, in particular gas storage and gas sourcing strategy

Nuon/Vattenfall is a major player in the Dutch gas market. Its activities include trading as well as wholesale and retail activities. Nuon sources its natural gas requirements from both traded markets, including the TTF spot market, as well as through medium and long term bilateral contracts. To respond to fluctuations in supply and demand Nuon operates a gas storage facility in Epe (Germany) and also has contracted flexibility with gas storage EnergyStock (formerly known as Gasunie Zuidwending). This contract ran out at the end of 2015. In 2016 part of the original capacity was re-contracted with Energystock. In addition Nuon/Vattenfall has contracted capacity at the Bergermeer gas storage facility.

The market conditions for gas storage operators were weak during 2016 and 2017. The very low summer-winter spread – the difference between the market price for gas in summer and in winter – resulted in a low income for these facilities. The year 2016 however was characterized by relatively large price movements allowing contract owners, when properly timed, to reap the financial fruits of this volatility (price-movements).

Nuon/Vattenfall owns and operates multiple gas fired power generation assets. Market conditions for these units continue to be difficult, but were better than in 2015 and as a consequence the units produced more power in 2016 compared to 2015.

The following key events occurred during the period January 2016 – June 2017: • The year 2016 was a slightly warmer year than average, but colder than what was observed in 2015. • The discussions on the utilization of the Groningen gas field continued during 2016 and measures were undertaken to further reduce the output of the Groningen field. This has had only a limited effect on the overall well-supplied market. • During 2016 the first serious discussions started to phase out the use of natural gas at household consumers. Various municipalities, among them the city of Amsterdam, have formulated the ambition to be natural gas-free by 2050.

16 Attachment: Wind farms within the Vattenfall portfolio as per 30 June 2017

Please find below an overview of all wind farms in the Netherlands.

Wind farm Onshore Offshore Total Number Vatten - Capa Year of installed of fall city x realisa- nominal turbines owner- share tion net ship capacity in MW WF Egmond aan Zee 1 108,00 36 50% 54,00 2006 (NoordZeeWind) WF Hoofdplaat 1 10 5 70% 7 2005 polder 1 13,2 20 40% 5,28 2002 WF Windpoort 1 1 6,00 2 13% 0,75 2010 WF Oom Kees 1 6 12 100% 6 1995 WF de Bjirmen 1 3,50 7 100% 3,50 1995 WF Hiddum Houw 1 16,80 28 100% 16,80 1997 WF Irene Vorrink 1 18,00 18 100% 18,00 1998 WF Eemmeerdijk 1 16,50 10 100% 16,50 2000 WF Jaap Rodenburg 1 4,80 6 100% 4,80 2002 WF Mariapolder 1 4,80 6 100% 4,80 2008 WF Oudendijk 1 2,40 3 100% 2,40 2009 WF Enkhuizen 1 8,00 4 100% 8,00 2009 WF Echteld 1 9,00 3 50% 4,50 2011 WF Reijndersweg 1 122,40 36 100% 122,4 2013 WF Prinses Alexia

Please find below an overview of the wind farms within the other European countries Vattenfall is active in.

Wind farm Cou Onshor Offsho Total Number Vatten - Capaci Year of ntry e re installed of fall ty x realisa- nominal turbines owner- share tion net ship capacity in MW WF Ruuthsbo SE 1 0,50 1 50% 0,25 2002

WF Stenkyrka SE 1 0,60 1 60% 0,36 2002

2002/ WF Kulle SE 1 1,20 2 100% 1,20 2004 WF Näsudden SE 1 10,24 8 100% 10,24 1995

WF Suorva SE 1 0,60 1 70% 0,42 2002

WF Utgrunden SE 1 10,71 7 100% 10,71 2000

WF Lillgrund SE 1 110,40 48 100% 110,40 2007

2002 - WF Hedeskoga SE 1 5,92 4 100% 5,92 2007 WF Östra SE 1 16,20 9 100% 16,20 2011 Herrestad

17 WF Stor-Rotliden SE 1 77,80 40 100% 77,80 2010

WF Hjuleberg SE 1 36,00 12 100% 36,00 2014

Juktan SE 1 28,80 9 50% 14,40 2015

Hoge Vag SE 1 37,00 18 50% 18,50 2016 Hogebjar SE 1 38,40 12 50% 19,20 2016 WF Jänschwalde GE 1 12,00 6 100% 12,00 2004

WF Alpha ventus GE 1 60,00 12 26% 15,75 2010

WF DanTysk GE 1 288,00 80 51% 146,88 2015

WF Sandbank GE 1 288,00 72 51% 146,88 2016 WF Velling Maersk DK 1 0,90 4 100% 0,90 1988

WF Draeby Fed DK 1 9,20 4 100% 9,20 2010

WF Ejsing DK 1 6,90 3 98% 6,76 2011

WF Rejsby Hede DK 1 23,40 39 100% 23,40 1995

WF Tjaereborg 1996 - DK 1 16,75 7 100% 16,75 Enge 2008 WF Norre Okse So DK 1 17,25 23 100% 17,25 2000

WF Nordjyllandsvaerke DK 1 8,00 4 100% 8,00 2002 t WF Hollandsbjerg DK 1 16,50 11 100% 16,50 2002

WF Rya DK 1 7,50 5 100% 7,50 2005

WF Lyngsmose DK 1 4,60 2 100% 4,60 2008

WF Norrekaer DK 1 29,90 13 97% 28,85 2009 Enge WF HagesHolm DK 1 23,00 10 98% 22,54 2011

WF Horns rev DK 1 158,00 79 60% 94,80 2002

WF Bajlum DK 1 15,00 5 89% 13,40 2014

WF Klim DK 1 67,00 21 98% 65,59 2015

WF Edinbane UK 1 41,40 18 100% 41,40 2010

WF Kentish Flats UK 1 90,00 30 100% 90,00 2005

WF Thanet UK 1 300,00 100 100% 300,00 2010

WF Ormonde UK 1 150,00 30 51% 76,50 2011

WF Kentish Flats UK 1 50,00 15 100% 50,00 2015 Ext WF Clashindarroch 1 36,00 18 100% 36,00 2015 UK WF Parc Cynog* UK 1 3,60 5 100% 3,60 2001

WF Pendine* 1 4,80 6 100% 4,80 2009 UK WF Pen Y UK 1 228,00 76 100% 228,00 2017 Cymoedd* WF Ray UK 1 54,40 16 100% 54,40 2017 WF Swinford* 1 22,00 11 100% 22,00 2012 UK * Wind farms are legally part of N.V. Nuon Energy

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Please find below an overview of the wind farms under development in the post FID (Final Investment Decision) stage.

Wind farm Country On - Off - Total to Number Vatten - Capacity Year of shore shore be of fall x realisa- installed turbines owners share tion nominal hip net capacity in MW Horns Rev 3 DK 1 406,7 49 100% 400,00 2019

Slufterdam NL 1 92,4 11 100% 92,4 2018 Aberdeen UK 1 28,8 8 100% 28,8 2018

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