1 REpower Systems AG Conference Call 14 August 2006.

1

REpower Systems AG

Conference Call

14 August 2006

2

H1-Highlights

Revenues +46.9%:

Increased from EUR 121.5 million to EUR 178.5 million

Improvement of results: EBIT improved from EUR -12.7 million to EUR 2.4 million

Order backlog +25.9%:

Increased from 652.5 megawatts to 821.5 megawatts

Successful completion of an capital increase

Share capital increased by EUR 2,160,599.00, from EUR 5,941,198.00 to EUR 8,101,797.00

Largest single order in the company history and first order for the US-market

Signing of an agreement with enXco Inc., the US subsidiary of EDF Energies Nouvelles, to supply 56 MM92-turbines in 2007 with an option for 19 further turbines

First Half-year 2006

3

Shareholder Structure

WKN: 617 703

ISIN: DE0006177033

Exchange symbol: RPW

Stock exchange: Prime Standard

Initial listing: March 26, 2002

Share capital: 8,101,797 Euro

4

Business Modell

Grid-Integration: New or improved

REpower products by understanding customer requests

Turbineproduction

Wind farmfund manager

Wind farmowner

Operation and

maintenance

Components System deve-

lopment

Solution Provider

Software: Parkmanagement and Grid

Codes Integration Grid

Monitoring, Integration CMS Comfortable performance

analysis

REpower is supplying Wind Power Stations instead of wind turbines

5

Activities worldwide:

Key Markets

Japan

Activities in Europe:

Portugal

Great Britain

Italy

France / Belgium

Australia

China

Germany

Spain

USA

6

1. Development of the wind energy market

2. Products3. Finance and personnel4. Outlook

7

Scarce resources

Dependency on imports

Climatic changes

Growth boosters: Renewable energies

8

Oil price development

Oil price development in US dollars per barrel(Period 2003 to 2006)

Source: Bloomberg

The increased oil price and the subsequent rises in the prices of the raw materials coal and gas are currently having an inflationary effect on the price for electricity from fossil fuels

9

Declining remuneration for electricity from wind power

Development of feed-in tariffs against stock market electricity price

1) EEX base load: quarterly weighted average price for base load electricity

2) Initially, a higher minimum rate per kWh is paid for each new wind turbine over five years. After this, remuneration is aligned with the energy the turbine would yield at a reference location with an average annual speed of 5.5 m/s at a height of 30 m above ground.

3) Remuneration after expiry of the increased remuneration under 2)

1

2

3

4

5

6

7

8

9

Q1/0

3

Q2/0

3

Q3/0

3

Q4/0

3

Q1/0

4

Q2/0

4

Q3/0

4

Q4/0

4

Q1/0

5

Q2/0

5

Q3/0

5

Q4/0

5

Q1/0

6

Q2/0

6*

in c

t/kW

h

EEX base load 1)

Remuneration for newwind turbines, weakwind 2)

Basic RenewableEnergies Actremuneration 3)

* July 2006: 7.34 ct/kWh

Market power price is considerably in excess of the EEG Basic-tariff

10

Forecast 2005 – 2009 of Total Market Volume

Cumulative Wind Capacity

0

20000

40000

60000

80000

100000

120000

140000

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Meg

aw

att

s

ForecastActual

Internal reasons

Total Market has Grown at 28% Compound Rate 1999 – 2004

11

1. Development of the wind energy market

2. Products3. Finance and personnel4. Outlook

12

Product Portfolio andR&D Outlook

MD 70:1998

MD 77:2000

MM 70:2002

MM 82:2003

MM 92:2005

MMX:2008

5M:2004

MD: 1.5 MW-Class

MM: 2.0 MW-Class

5M: 5.0 MW

13

Technological Advantages

Conservative load assumptions and high safety factors

Reliable gearbox concept: Excellent weight balance prevents high loads and load peaks in the structure Low temperature level by an efficient, directly connected oil cooling system Three stage oil filtering system for maximum oil quality Design check test run under up to 240% load

Generating characteristics like a conventional power plant

Low sound power levels

Zone concept for lightning protection in line with IEC-regulation with inner and outer lightning protection

Technological advantages

14

Project overview 5M launch I

0 series onshore

Planned projects:

E.on/Winkra: Cuxhaven EWE: Cuxhaven

15

Project overview 5M launch II

Initial offshore project: Beatrice Wind Farm

25 kilometres from the Scottish coast, two REpower 5M turbines are to be installed in

water 44 metres deep In the Moray Firth

Ongoing Installation

16

Offshore Wind Farms in the North and Baltic Sea

26

4

2

8

7

5

6 9

1

10 34

3236

37

38

35

33

27

17

19

13

18

1123

15

16

2429

3031

22

21

20

25

14

123

SwedenPlanned Windfarms North Sea

12 Meerwind13 Weisse Bank 201014 Forseti17 Godewind18 Uthland19 Weisse Bank20 Jules Verne21 Ventotec Nord 122 Ventotec Nord 223 Nördlicher Grund24 Windpark He dreiht25 TGB Nord26 H 2 – 2028 Riffgat29 Bard Offshore30 Austerngrund31 Deutsche Bucht

Approved WindfarmsBaltic Seae

10 Kriegers Flak

36 Baltic I

35 Sky 2000

37 Breitling

Geplante Parks Ostsee

32 Arcona Becken Südost

33 Beltsee

34 Ventotec Ost II

38 Wismar

Approved Windfarms North Sea

1 Emden2 Butendiek3 Borkum West4 Sandbank 245 Borkum Riffgrund West6 Borkum Riffgrund7 Amrumbank West8 Nordsee Ost9 ENOVA ONS Windpower11 Dan Tysk15 Globaltech16 Hochsee Windpark27 Nordergründe

Quelle: Kromrey, Mai 2005

25,000 MW

2,600 MW

17

1. Development of the wind energy market

2. Products3. Finance and personnel4. Outlook

18

Employee development

Number of employees(30 June 2006)

REpower Systems Group

Employee qualifications(31 Dec. 2005)

at REpower Systems AG

2 2 %

4 6 %

5 %

1 1 %

1 6 %

E n g in e e r s

T e c h n ic ia n s

A d m in is t r a t io n

O t h e r g r a d u a t e s

A p p r e n t ic e s , in t e r n s , d ip lo m a in t e r n s a n d o t h e r s

One in five employees has an engineering degree

Approximately 90% of employees agreed to a 41.5 to 42 hour week

0

100

200

300

400

500

600

2005 2006

554674

19

Income Statement

Income Statement for the period from 1 January – 30 June

20

Balance Sheet I

Consolidated financial statement as per 30 June 2006

21

Balance Sheet II

Consolidated financial statement as per 30 June 2006

22

Cash Flow Account

Cash flow statement for the first six months of 2006

23

1. Development of the wind energy market

2. Products3. Finance and personnel4. Outlook

24

Objectives

Provided that the current component bottlenecks do not result in further delays in delivery, REpower still expects to increase sales to EUR 450 million with an EBIT between EUR 11 million and EUR 13.5 million in 2006

In financial year 2007, REpower is planning to increase the number of wind turbines installed to around 325 and to improve its sales volume to EUR 650 million. The company expects to further increase its EBIT margin

REpower’s long-term planning assumes that the company’s strong growth will continue. Based on current estimates, the number of turbines installed in 2008 will be at least 400, with the sales volume increasing to EUR 800 million

Objectives

25

Investment Highlights

Investment Highlights

REpower is working in a fast growing markets with attractive customers

REpower is well positioned for strong growth Technology leader First mover in the 5-megawatt class Well-positioned across the value chain Positioned in high-growth product segments International expansion

Successful completion of turnaround in Q1/2006

Highest Order Book Level in the Company History

Promising Shareholder Structure