Veolia Environnement l Not to be distributed in the United States, Canada, Japan, or Australia   Investor Relations – Pari...
Veolia Environnement l Not to be distributed in the United States, Canada, Japan, or Australia   Investor Relations – Pari...
Veolia Environnement l Not to be distributed in the United States, Canada, Japan, or Australia   Investor Relations – Pari...
Veolia Environnement l Not to be distributed in the United States, Canada, Japan, or Australia                            ...
Veolia Environnement l Not to be distributed in the United States, Canada, Japan, or Australia   Investor Relations – Pari...
Veolia Environnement l Not to be distributed in the United States, Canada, Japan, or Australia     Investor Relations – Pa...
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Acquisition of Thermal North America, Inc., US Largest Heating and Cooling Networks Portfolio

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2007-06-13

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Acquisition of Thermal North America, Inc., US Largest Heating and Cooling Networks Portfolio

  1. 1. Veolia Environnement l Not to be distributed in the United States, Canada, Japan, or Australia Investor Relations – Paris June 12, 2007 Acquisition of Thermal North America, Inc America Inc., US Largest Heating and Cooling Networks Portfolio Paris, June 12 2007 P i J 12,
  2. 2. Veolia Environnement l Not to be distributed in the United States, Canada, Japan, or Australia Investor Relations – Paris, June 12, 2007 Disclaimer Forward-looking Statements: Veolia Environnement is a corporation listed on the NYSE and Euronext Paris. This document contains "forward-looking statements" within the meaning of the provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements are not guarantees of future performance. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are outside our control, including but not limited to: the risk of suffering reduced profits or losses as a result of intense competition, the risks associated with conducting business in some countries outside of Western Europe the United States and Canada the risk that changes in energy prices Europe, Canada, and taxes may reduce Veolia Environnements profits, the risk that we may make investments in projects without being able to obtain the required approvals for the project, the risk that governmental authorities could terminate or modify some of Veolia Environnements contracts, the risk that our long-term contracts may limit our capacity to quickly and effectively react to general long term economic changes affecting our performance under those contracts, the risk that Veolia Environnements compliance with environmental laws may become more costly in the future, the risk that currency exchange rate fluctuations may negatively affect Veolia Environnements financial results and the price of its shares, the risk that Veolia Environnement may incur environmental liability in connection with its past, present and future operations, as well as the risks described in the documents Veolia Environnement has filed with the U.S. Securities and Exchange Commission. Veolia Environnement does not undertake, nor does it have, any obligation to provide updates or to revise any forward-looking statements. Investors and security holders may obtain a free copy of documents filed by Veolia Environnement with the U S Securities and Exchange Commission from U.S. Veolia Environnement. This document contains "non-GAAP financial measures" within the meaning of Regulation G adopted by the U.S. Securities and Exchange Commission under the U.S. Sarbanes-Oxley Act of 2002. These Sarbanes Oxley "non-GAAP financial measures" are being communicated and made public in accordance with the exemption provided by Rule 100(c) of Regulation G. 2
  3. 3. Veolia Environnement l Not to be distributed in the United States, Canada, Japan, or Australia Investor Relations – Paris, June 12, 2007 Thermal North America, Inc. – Largest District Heating & Cooling Systems portfolio in the US June 2007: Acquisition of TNAI for an enterprise value of $788 million, i.e. a 2008 EBITDA multiple of around 9.5x Estimated 2007 revenue: $425 million Major player in the United States in the DHCS (District Heating and Cooling Systems) market Also operates in the power production (cogeneration) sector as well as Facility Management TNAI operates in cutting-edge regions with respect to environmental issues, in particular the north-eastern states and California TNAI owns and operates heating networks in Boston, Philadelphia, Baltimore, Atlanta and Kansas City as well as several several cooling networks in Las Vegas and Los Angeles 3
  4. 4. Veolia Environnement l Not to be distributed in the United States, Canada, Japan, or Australia Investor Relations – Paris, June 12, 2007 Thermal North America, Inc. – Largest District Heating & Cooling Systems portfolio in the US Century City Oklahoma City Tulsa Kansas City St. Louis Boston Trenton Project type: DHCP Ownership: 100% Ownership: 100% Ownership: 100% Ownership: 78.6% Ownership: 100% Ownership: 100% Services: C,S,HW Services: S,HW,CW Services: S,CH Services: S Services: HW,CW,E Services: S,CW,E Services: S,E Venetian Project type: IEM Services: C S HW E C,S,HW,E Bunker Hill Project type: DHCP Services: C,HW Queen Mary Thermal installed capacity (3,500 Boston MWth) Project type: IEM California 13% Baltimore Services: C,E 4% 13% Tulsa 3% Las Vegas H&H 1% Kansas City Others 14% Project type: IEM Trenton 23% Oklahoma City Services: C,E 3% 3% St. Louis Other Philadelphia 3% 43% Services: Short term O&M Baltimore Altantic Station Philadelphia Baltimore Inner Harbor East Grays Ferry Philadelphia Thermal West Ownership:100% Ownership: 100% Ownership: 100% p Ownership: 60% Ownership: 100% Thermal East Services: S i CW Services: S Services: S,HW,CW Services: HW,CW Services: S,E DHCP: District Heating and cooling plant / IEM: Integrated energy management / CW: Chilled water / C: Cooling / S: Steam / HW: hot water / E: Electrical and controls / E.F.M: Energy Facilities Management 4
  5. 5. Veolia Environnement l Not to be distributed in the United States, Canada, Japan, or Australia Investor Relations – Paris, June 12, 2007 Thermal North America, Inc. – Largest District Heating & Cooling Systems portfolio in the US Largest District Heating & Cooling Systems p g g g y portfolio in the United States, , the country that boasts the world’s biggest market of energy services in terms of value First class First-class platform for organic growth in the United States with, among others, commercial and corporate synergies to be achieved from the existing platform (steam distribution network in Cambridge, Massachusetts) 3,500 3 500 MW of thermal capacity, 520 MW of cooling capacity & 245 MW of capacity power capacity 1,100 clients served 450 employees Expected consolidation in 2008 An acquisition which is earnings accretive in 2008, Veolia Energy: Largest (1) District Heating & Cooling Systems portfolio in the United States with 10%(1) market share (1) After transaction is completed 5
  6. 6. Veolia Environnement l Not to be distributed in the United States, Canada, Japan, or Australia Investor Relations – Paris, June 12, 2007 Investor Relations contact information Nathalie PINON, Head of Investor Relations 38 Avenue Kléber – 75116 Paris - France Telephone +33 1 71 75 01 67 Fax +33 1 71 75 10 12 e-mail nathalie.pinon@veolia.com Brian SULLIVAN, Vice President, US Investor Relations 700 E. Butterfield Road -Suite 201 Lombard, IL 60148 - USA Telephone +1 (630) 371 2749 Fax +1 (630) 282 0423 e-mail brian.sullivan@veoliaes.com @ Web it W b site http://www.veolia-finance.com 6

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