Growth in renewable energy is driven by climate change targets in the EU and Germany. The EU targets are 20% reductions in greenhouse gas emissions, 20% renewable energy consumption, and 20% improved energy efficiency by 2020, with further targets for 2030 and ambitions for 2050. Germany's "Energiewende" plan switches from coal and nuclear to renewables, with modeling showing a dramatic increase in renewable production from 2005-2050. Statkraft, a leading renewable energy company, has hydropower, wind power, and district heating operations across Europe and emerging markets, with the goal of becoming a leading international pure energy company.

1. GROWTH IN PURE ENERGY
Nordic Energy Summit, 20th March 2014
Christian Rynning-Tønnesen, CEO, Statkraft

2. Growth in consumption – dependent on region
2
Power demand 2000 -2012

3. Climate change
3
Egham, UK, February 2014

4. EU’s climate and energy targets
 Agreed EU targets for 2020
- 20 % GHG-reduction
- 20 % renewables consumption
- 20 % energy efficiency
 Proposed EU targets for 2030
- 40 % GHG-reductions
- 27 % renewables consumption
 EU ambition for 2050
- 80-95 % GHG reduction
4

5. Germany’s plan: «Energiewende»
Switch from coal and nuclear to renewables
0
100
200
300
400
500
600
700
2005 2010 2015 2020 2025 2030 2040 2050
Conventional
Renewables
5
Power production in Germany 2005-2050, TWh per year
Source: DLR and
Fraunhofer IWES

6. Coal prices lower than gas prices
66
0
10
20
30
40
50
60
Combined Cycle Gas Turbine Coal
Variable operating costs (€/MWh)
EEX power price,
base, Germany 2014
CO2 costs
Fuel costs
Variable OpEx

7. Solar PV in Germany
7
Feed-in tariff Feb. 2014

8. Flat packed solar power
8

9. Changes in EU electricity generation 2013
9
-10000
-5000
0
5000
10000
New
Decommissioned
MW
Source: EWEA
Wind PV Gas Coal Biomass Hydro CSP Fuel oil Nuclear

10. Power prices in Europe
10
0
10
20
30
40
50
60
70
2000 2005 2010 2015 2020
€/MWh
Nordic System Price Germany - Phelix

11. A German summer week 2022
Source: Agora Energiwende
Biomasse baseload
Biomasse CHP
Bioigas
Biomethane
Hydropower
Onshore wind
Offshore wind
Photovoltaic
Conventional
Power demand
Mon Tue Wed Thu Fri Sat Sun
GW

12. National capacity mechanisms
implemented
12
Existing capacity market
Planned capacity market

13. Global investments in renewables
and fossil electricity
13 Source: UNEP Global Trends in Renewable Energy Investments 2011, 2012 and 2013
0
50
100
150
200
250
300
350
2010 2011 2012
Renewables incl. large hydro Fossil Fuel
$bn

14. 14
ABOUT STATKRAFT
Blåsjø, March 2014

15. 2013:
Statkraft at a glance
Peru
163 MW
(+ project)
Chile
94 MW
Turkey
20 MW
(+ projects)
Nepal 21 MW
Philippines
179 MW
Brazil
77 MW
Panama
(project)
Zambia
7 MW
Norway
12 518 MW Sweden
1 315 MW Finland
66 MW
UK
273 MW
Laos 100 MW
Germany
2 692 MW
India
82 MW
Installed capacity*
17 600 MW
Power production*
56 TWh
97%
renewable
energy
3 600
employees
AGUA IMARA
SN POWER
STATKRAFT
Includes: - Statkraft’s share of installed capacity
- Statkraft SF’s share of installed capacity in Laos
Albania
(project)

16. Statkraft financial development 1992-2013
16
-
5 000
10 000
15 000
20 000
25 000
30 000
35 000
40 000
45 000
50 000
1992 -93 -94 -95 -96 -97 -98 -99 2000 -01 -02 -03 -04 -05 -06 -07 -08 -09 -10 -11 -12 -13
NOK million.
Gross
revenues
EBITDA
1992-2003: Statkraft SF – From Income Statement (unadjusted)
2004-2013: Statkraft AS – Underlying figures – Adjusted for unrealised changes in value on energy contracts and significant non-recurring items

17. 10 042
402 278
507 132
1 584
-501
3
458
640
Nordic
Hydropower
Continental Energy
and Trading
International
Hydropower
Wind
Power
District
Heating
Industrial
Ownership
Others/
eliminations
Underlying* EBITDA Share of profit from associates
2013 Segment financials
17
* Adjusted for unrealised changes in value on energy contracts and significant non-recurring items
NOK million
Underlying* EBITDA and Share of profit from associates

18. District Heating
Statkraft’s ambition:
Leading international company in pure energy
European Flexible Generation
Wind Power
Hydropower in Emerging Markets
Trading and OriginationInvestments directed to
1) Regulated income in Europe
2) Growth in emerging markets
18

19. Nordic hydropower
19

20. Germany’s largest operator of renewable energy
 Direct sales of 8.700 MW in Germany
- 5000 MW is remote controlled
 Markets share: 25% of German wind
power
 Statkraft turns local power production
into a big virtual renewable power
plant
8 700 MW – market access
5 000 MW – remote control
20

21. Strengthening International Hydropower
21
1st April 2014:
Statkraft to integrate South
America and South Asia
New SN Power to focus on
South East Asia, Africa and
Central America
Statkraft SN Power

22. Alltwalis
Stamåsen
Mörttjärnberget
Björkhöjden
Ögonfägnaden
Hitra
Smøla
Onshore and offshore wind power
in the Nordics and UK
 In operation/under construction
- Norway: 244 MW
- Sweden: 525 MW
- UK: 460 MW
 Licensed/under development
- Onshore: Norway 735 MW
Sweden 290 MW
UK ~ 50 MW
- Offshore: Dudgeon 402 MW
Dogger Bank 7200 MW
Em
Tollarpabjär
Dudgeon
Sheringham Shoal
Dogger Bank
Berry Burn
Baillie
Kjøllefjord
22

23. 23
Innovation in Statkraft
R&D programs Exploration activities
 Future Hydro Power
 Competitive Wind Power
 Energy from Biomass
 Consequences of Climate
Change
 Distributed energy
 Solar PV
 Energy Storage – battery
 Biofuel

24. 24