WEB Windenergie AG Integrated Sustainability and Business Report 2015 Key Figures W.E.B Group

Key Financial Figures 2015 2014 2013 2012 2011 Million EUR Sales revenue 66.6 54.0 48.1 47.2 40.9 Operating results 21.5 16.5 15.5 16.4 13.2 Financial results –8.4 –7.0 –7.2 –6.5 –5.6 Results from normal business activity 13.1 9.5 8.3 9.9 7.6 Group earnings after income tax 9.3 7.1 6.1 6.4 5.7 Total assets 415.8 387.7 316.9 278.9 261.6 Equity capital 107.4 99.9 86.9 82.8 79.9 Equity capital ratio (%) 25.8 25.8 27.4 29.7 30.5 Cash flow from operations 46.4 34.7 38.6 27.2 21.6 Investments¹ 53.0 68.6 58.6 39.9 26.7 Return on equity (%) 9.0 7.6 7.2 7.9 7.3 Profit per share(EUR) 29.9 25.0 21.7 22.3 19.9

Power Generation² 2015 2014 2013 2012 2011 MWh Power generation total 718,210 616,654 558,834 547,378 474,387 Wind power 698,580 598,119 538,903 528,378 456,737 Photovoltaic power 12,475 11,230 11,150 10,639 9,841 Hydroelectric power 7,155 7,306 8,781 7,612 6,625

Power Plants 2015 2014 2013 2012 2011 Number as of 31 Dec. Power plants total 219 199 189 176 153 Austria 117 107 103 90 83 Germany 57 58 55 55 55

Front gatefold cover gatefold Front France 21 21 21 21 6 Canada 14 3 0 0 0 Czech Republic 8 8 8 8 7 Italy 2 2 2 2 2

Installed Capacity² 2015 2014 2013 2012 2011 MW as of 31 Dec. Generating capacity total 338.0 308.2 286.6 264.9 238.9 Austria 193.9 176.2 163.9 142.2 130.8 Germany 88.4 88.4 82.4 82.4 82.4 France 24.8 24.8 24.8 24.8 12.0 Canada 15.4 3.3 0 0 0 Czech Republic 9.1 9.1 9.1 9.1 7.3 Italy 6.4 6.4 6.4 6.4 6.4

¹ Including assets from company acquisitions ² Including investments in associated companies 66.6

29.9

54.0 25.0 47.2 48.1 22.3 21.7 40.9 19.9

Sales Profit Revenue per Share Million EUR EUR

2011 2012 2013 2014 2015 2011 2012 2013 2014 2015

338.0 308.2 9.3 286.6 264.9 238.9 7.1 6.4 6.1 5.7

Group Installed Earnings Capacity after Taxes MW Million EUR

2011 2012 2013 2014 2015 2011 2012 2013 2014 2015

107.4 99.9

9.0 86.9 82.8 7.9 79.9 7.6 7.3 7.2

Return on Equity Equity % Million EUR

2011 2012 2013 2014 2015 2011 2012 2013 2014 2015 Key Figures »

A Year of Endorsements

An exciting year lies behind us and the strategic direction of W.E.B has been affirmed in many ways. In 2015, we received several prestigious awards including the Austrian Climate Protection Prize. Receiving external recognition for our leadership in the energy transition shows that we are on the right track. ­Additionally, the results of the World Climate Conference in Paris, which was taking place at the end of 2015, provided us with further encourage- ment on our path forward: that the transition to a CO₂-neutral world is possible and wind energy is playing a major role in this strategy with a share of up to 50 % by 2050 in global electricity production. And this is exactly the core business in which we have been operating successfully for 20 years. We are determined to continue with our proven ­strategy: Besides the professional oper- ation of our existing plants, we focus on the continuous, moderate expansion of our generating capacity and the innovative mar- keting of the green energy that we generate. Together, with our shareholder, investors and all the other stakeholders of our com- pany, we can make a significant contribution to minimize climate change. We are looking forward to this challenge and invite you to continue working with us for the energy transition.

Kindly

Frank Dumeier Michael Trcka The Austrian Climate Protection Award proves: W.E.B is a lead- ing partner in terms of energy transition. WEB Windenergie AG Business Report 2015 2 Contents Climate Change – Backgrounds & Facts 4 Guest commentary from Professor Helga Kromp-Kolb

The UN Climate Conference 2015 in Paris 8 Guest commentary from Federal Minister Andrä Rupprechter

Energy Transition made by W.E.B 12 W.E.B at a Glance 17 An Innovative Climate that Creates Success 18 Interview with the Board of Directors

Boards and ­Investments 26 Supervisory Board | Board of Directors | Strategic Investments | Organizational ­Structure

2015 – A Year of Awards 29 Austrian Climate Protection Prize | Excellent Company | Trend AAA-Award | ­Austrian Public Reporting Award (APRA)

Focus Innovation­ 32 Energy Storage | Anticipate the Demand of the Customer | Optimizing the Demand of Green Power | ­Intelligent Charging Station | Maintenance | E-mobility Focus Operations­ 37 Steady Production Year | Manufacturer Strategy | Efficient Plants | Service Strat- egy | Switching to Income Availability | New Production Calculations | ­Preventive Plant ­Monitoring | Electricity Marketing | Expansion of the Headquarters Focus ­Project ­Management & Project Development 45 Successful Work Year | Gate System | Repowering | From Greenfield to Ready-to-be- built Projects | Benefits of Early Entry | New Plant Technology | Decentralization and Regional Focus | Cooperation in Development | Head Office Competency Investing in W.E.B 52 Citizen Participation | W.E.B Shares | W.E.B Bonds | W.E.B Traderoom Sustainable Responsibility­ 60 Energy Amortization of Wind Power and Photovoltaic Plants | Self-Sufficiency of the Ecological Energy Plants with Green Energy | New Building with ‘Plus-Energy’ Concept | Electromobility | Eco-Balance Strong Team – Strong Results 65 Employee Satisfaction Survey | Leadership Development | Internships | W.E.B Roses Program | Personal Data at a Glance Corporate Governance­ 70 Group Management Report for the Fiscal Year 2015 75 General, Business Area | Market and Industry | General Framework | ­Business Perform- ance | Performance Indicators | Anticipated Development | Research and Develop- ment | Branch Offices | Events After the Reporting Date Consolidated Financial Statements (IFRS) 92 Consolidated Profit and Loss Statement | Consolidated Statement of Comprehensive In- come | Consolidated Balance Sheet | Consolidated Cash Flow Statement | Consolidated Statement of Changes in Equity

Notes to the ­Consolidated ­Financial Statements for the ­Fiscal Year 2015 100 Auditor’s Report 136 Report of the ­Supervisory Board 138 WEB Windenergie AG Business Report 2015 4 -1.5 -1.0 -0.5 0.5 1.0 1.5 Climate Change – Backgrounds &Facts Guest commentary from Professor HelgaKromp-Kolb °C 1760 ± For theglobalmedian(1850to 2011) ± For Austria (1768to 2011) Climate changeisnolongerjust anabstract people’s perception ofclimate change. becoming more noticeable. Thishaschanged were predicted for thefuture are already other was broken that globallyandimpacts In 2015,onetemperature record after an- Science to Harsh Reality Climate Change:From Abstract 1800

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about Climate Change, published in 2014. nomic costs but will also severely impact our Since 1880, the temperature in ­Austria has everyday life. We have to start adjusting to risen by almost 2°C, compared to a global the changing climat