Republic of Macedonia-ESM EVN Income statement For the year ended 31 December _____

1. Republic of Macedonia-ESM EVNIncome statementFor the year ended 31 December _____ Note Current year Previous year Revenues Electricity revenues Other income Total revenues Expenses Electricity purchases Depreciation Staff costs Maintenance Materials and consumables Other operating expenses Provision for doubtful accounts Provision for slow-moving materials Provision for legal proceedings Total expenses Result from operating activities (EBIT) Finance revenues Finance costs Financial results Profit before tax (EBT) Income tax Net profit for the period

2. Republic of Macedonia-ESM EVNBalance sheetat 31 December________ Note Current year Previous year Assets Non current assets Property, plant and equipment Intangible assets Investments Total non-current assets Current assets Inventories Trade and other receivables Income tax receivables Cash and cash equivalent Total current assets Total assets Equity Share capital Reserves Accumulated losses Non-current liabilities Non-current loans and borrowings Non-current provisions Deferred income from network subsidies Other non-current liabilities Total non-current liabilities Current liabilities Current loans and borrowings Taxes payable Trade payable Current provisions Other current liabilities Total current liabilities Total equity and liabilities

3. Republic of Macedonia-ESM EVNStatement of cash flows – indirect methodFor the year ended 31 December Note Current year Previous year Cash flow from operating activities Gain (loss) for the period Adjustments for: Depreciation Write off of investments available for sale Capital loss on disposal of property, plant end equipment Impairment loss for bad debt and doubtful debts Collected previously written off receivables Net finance income Income tax expense Change in trade other receivables Change in inventories Change in trade and other payables Change in provisions Income tax paid Interest paid Net cash from operating activities Cash flow from investing activities Acquisition of property, plant and equipment Acquisition of intangible assets Interest received Net cash used in investing activities Cash flow from financing activities Proceeds from borrowings Repayment of borrowings Net cash from financing activities Net decrease in cash and cash equivalents Cash and cash equivalents at 1 January Cash and cash equivalents at 31 December