Joining Forces Europe's first cross-border Transmission System Operator J.M. Kroon MBA, CEO TenneT Holding Düsseldorf, 10 November 2009.

Joining Forces

Europe's first cross-border Transmission System

Operator

J.M. Kroon MBA, CEO TenneT Holding

Düsseldorf, 10 November 2009

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Europe's first cross-border TSO

Major step towards integrated European market

“Joining Forces”

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Benefits of joining forces

– Societal benefits as a result of price development

– Greater security of supply

– Greater opportunities for sustainable development

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Societal benefits as a result of price development

– Towards a 'level playing field'

– Greater price stability

– Cost savings thanks to synergy effects

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Greater security of supply

– More effective maintenance of energy balance

– Working together on grid security

– Stronger position in European market

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Greater opportunities for sustainable development

– Coordination of wind energy

– Pooling knowledge on offshore projects

– Investing jointly in a sustainable Europe

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Transaction & financing

– Approval from shareholder (Dutch Ministry of Finance)

– Support from Dutch Minister of Economic Affairs

– Transaction value of company: EUR 885 million

– Committed loan from ING/RBS

– Transfer with effect from January 2010

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TenneT & transpowerJoining Forces

TenneTtranspower

Balance sheet total (2008) EUR 5 billion Revenue (2008) EUR 1.2 billion

EBITDA (2008) EUR 282 million

No. of staff 1340

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TenneT & transpowerJoining Forces

TenneT transpower

Circuit length 19,100 km

No. of substations 368

Conn. production capacity 82,000 MW

Wind power 9,800 MW

Head office Arnhem BayreuthControl Centres Arnhem Lehrte

Ede Bamberg

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Organizational structure

No impact oneach other's tariffs

Thank you foryour attention