Repower News Release

Poschiavo/Pontresina, 10 May 2010

Annual General Meeting approves higher dividend and change of name from Rätia Energie AG to Repower AG

At the 106th AGM held on 10 May 2010 in Pontresina, Chairman of the Board of Directors Dr Euard Rikli expressed a clear commitment to the liberalisation of the Swiss market. He said that even though the transformation would involve a tough political process, Repower intended to prove its worth in the marketplace and apply the experience it has gathered abroad in as well. The Annual General Meeting of shareholders approved an increase in the dividend, and an amendment to the articles of association changing the name of the company, which since April 2010 has been present as Repower.

On the subject of market liberalisation in Switzerland, chairman Dr Eduard Rikli said that he expected there to be plenty more changes of tack as the debate proceeds, and pointed out that there were still also calls to reverse the process. He also contended that there was already far too much regulation. “Our position, by contrast, is clear: we want to continue down the path of liberalisation until the goal is reached. We want competition, because fair competition is the hallmark of the free market,” continued Rikli. This also meant, he said, that in Switzerland too Repower intended to move forward rather than backwards.

In this context Rikli explicitly praised the stance of Canton Graubünden, which recognises a good regulatory and operating environment as a prerequisite for successful economic activity. He said that the canton’s policy supported and promoted the development of the economy, and expressed a clear commitment to strong businesses. This, he claimed, reinforced Repower’s position in the region, something which was very important to the company itself.

Profitable growth At the AGM the Chairman of the Board of Directors went on to stress that Repower was operating in a business which is of fundamental importance in terms of a functioning economy: supplying energy, he said, was a key role on which society is absolutely reliant. Even so, according to Rikli, mastering this task is a challenge in an environment of shifting market conditions and a difficult political framework. He outlined the basic trends characterising the market in Europe as a long-term increase in demand, the growing importance of trading, a growing number of companies with an integrated business model, and aging generation facilities. Repower’s strategy, he said, was rooted

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in the markets: “Our goal is to continue growing profitably on a sustainable path," added the Repower chairman.

Demanding year with new challenges CEO Kurt Bobst presented details of the 2009 annual results to the shareholders. The results were solid: total operating revenue came to almost CHF 2 billion, operating results were CHF 137 million, and Group profit totalled CHF 111 million. Bobst explained that 2009 had been a very demanding year. On the one hand, the first six months had seen very volatile prices on the electricity market, which in some cases no longer matched the familiar patterns of the past. This, he said, required a resolute approach. In the second half of the year, prices had marked time at a low level, which had led to uncertainty on the market and a decline in activity on the energy exchanges.

Repower, CEO Kurt Bobst went on to emphasise, is adhering strictly to its existing strategy. Good examples of this, he said, were the recently announced interest in the Giunchetto wind park in , and the takeover of the entire Corleto Perticara wind park in Basilicata.

Bobst explained that it was hard to make predictions for the current year as the overall environment remains extremely difficult, with further economic and political uncertainty on the cards. With this in mind he said that Repower could expect to see results slightly below those for 2009. The company, he said, had started 2010 according to plan.

Increase in dividend The AGM then approved the annual report and the financial statements. The shareholders approved the board’s motion to increase the dividend by CHF 1 to CHF 8 per bearer share or participation certificate. The members of the board of directors were discharged from liability, and Michael Wider was appointed to the board as successor to Jörg Aeberhard.

Rätia Energie becomes Repower The AGM also approved an amendment to the articles of association confirming the change of name from Rätia Energie AG to Repower AG. The company has been present with this name since April 2010. In the light of international expansion, a name was sought that could be easily used in all key markets and on the Internet. “Repower” is a name that reflects the company’s strong roots in its region of origin, and is already well established. In the next few weeks, other group companies will now be progressively renamed. Naturally undertakings entered into under the old name remain valid.

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Note

The 2009 business results were published on 17 March 2010. The annual report is available for download at www.repower.com.

Contact:

Kurt Bobst CEO CH – 7742 Poschiavo T +41 81 839 7111 M +41 79 221 4655 [email protected]

Martin Gredig CFO Member of the Executive Board CH – 7742 Poschiavo T +41 81 839 7111 M +41 79 203 8926 [email protected]

Werner Steinmann Head of Corporate Communications CH – 7742 Poschiavo T +41 81 839 7111 D +41 81 839 7141 M +41 79 831 5213 [email protected]

www.repower.com

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Facts & Figures of Repower Group Repower is an internationally active company in the electricity sector with head office in Poschiavo and locations in , Ilanz, Samedan, Landquart, , , Dortmund, Prague, Sarajevo and Bucharest. Repower sells around 14.4 billion kilowatt hours (kWh) of electricity and gas per year, generating annual revenue of around CHF 2 billion. As an international electricity trader with trading locations in Poschiavo, Milan and Prague, the company is present on several European electricity exchanges.

In its own power plants in the canton of Graubünden (Switzerland) and in , Repower generates an average of around 2,100 million kWh of electricity per year. The company also owns a stake in Kraftwerke Hinterrhein AG and utilises the entire energy package of Grischelectra AG.

Repower directly supplies over 50,000 customers with electricity and another 25,000 customers receive their energy indirectly through local resellers, mainly in the canton of Graubünden. In Italy and Germany the company sells electricity to commercial customers and municipalities and in the case of Italy also sells gas to these customers.

Repower has around 620 employees plus more than 30 trainees in Switzerland and 400 agents in Italy. More than 400 of the jobs are based in Graubünden.

Key figures 2009

2009 Changes compared to the previous year CHF EUR mill. mill. Total operating revenue 1,959 1,297 - 1 % Operating income before interest and income 137 91 - 26 % taxes (EBIT) Group profit including minority interests 111 74 + 18 % Balance sheet total 2,389 1,607 + 9 % Equity (38% of total assets) 912 614 + 11 %

GWh Total energy sales 14,432 + 15 % Of which Traded 10,192 + 23 % Sales 4,010 + 2 % Pumps, own use, losses 230 - 34 %

Total energy procurement 14,432 + 15 % Of which Traded 11,596 + 27 % Own generation 1,778 - 26 % Energy from participations 1,058 - 2 %

The company carries its books in Swiss francs. The amounts in euro are listed on these pages for information purposes and are based on the average exchange rate (income statement) or closing exchange rate (on the balance sheet date).

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