IRKURSKENERGO : CURRENT STATUS AND DEVELOPMENT OUTLOOK

1. IRKURSKENERGO: CURRENT STATUSANDDEVELOPMENT OUTLOOK General Director Evgeny Vladimirovich Fedorov September 2010 Irkutsk

2. GEOGRAPHIC DISTRIBUTION OF OJSCIRKUTSKENERGO ASSETS • -HPP • CHP • heat distribution networks • - black coal • - brown coal • WITHIN • OJSC IRKUTSKENERGO • HPP • installed capacity- over 9000MW • annualproduction ofelectric power - 40 000 millionkWh • CHP • installedcapacity around 4000 MW • heat capacity over 13 millionGcal/h • total lengthof heat supply networksexceeds 1 700 km. • COAL ASSETS • Total capacity 15.4 million tons per year • Subsidiaries and dependent companiesengaged in diverse activities: • Sales • Repairs • Transport • Supplies • Consulting, training Zheronskycoal licence plot Ust-IlimskayaHPP Ust-IlimskayaCHP CHP-16 BratskayaHPP, CHP-6, Bratskieheat distribution networks Irbeyskycoal licence plot Azeisky and Mugunskycoal licence plots Novo-ZiminskayaCHP Golovinsky coal licence plot CHP-12 Cheremkhovskycoal licence plot CHP-11 CHP-1, CHP-9, Angarskie heat distribution networks, CHP-10 N-ICHP, IrkutskayaHPP, Irkutskieheat distribution networks CHP-5 2

3. COMPANY PROFILE • OJSCIrkutskenergoranks third in terms ofinstalledelectric powercapacityinRussia, followingOJSCRusHydroand RosatomState Corporation • Keyperformance indicatorsin 2009 : • installed capacity – 12 880 MW • electric power production – 56 798 millionkWh • electric power output – 25 426 thousandGcal • Key financial indicators: • sales volumein 2009– 38 838 million rubles (RAS) • gross profitin 2009 – 9 251 million rubles (RAS) • average electric power tariffin 2009 – 52.36 kopecks / kWh • average heat power tariff in 2009 – 436.56 rubles / Gcal Sales volume, million rubles Gross profit, million rubles Electricity production, million kWh Heat output, thous.Gcal 2008 2009

4. COMPANY COAL ASSETS • Besides there is own transportation system for coal delivery. • Total length of railway line amounts to 258.2 km, including: • Mugunsky - 106.5 km, • Azeisky - 63.7 km, • Cheremkhovsky – 88 км. • Locomotive fleetincludes 52 units • Railroad car fleetincludes 845 units. Future increase of railroad cars up to 1 000 units is planned.

5. MAJOR PROJECTS IMPLEMENTED Target Project Description Economicindicators Implementationperiod CAPEX, mln. rubles NPV – 1 511 mln rubles PI – 5.18 IRR – 35% DPBP – 7.1 Projectprovidesfor replacement of 6 wheels of турбин Bratskaya HPP turbines in order to generate additional profitas a result of equipment efficiency increase Equipment efficiency increase Increase ofpower production volume Costreduction Replacementof Bratskaya HPP turbine wheels 564 May 2004 – November 2010 Heating main had been constructed connectingSverdlovskaya boiler house (N-I CHP) and right bank of the Angara Riverin order to shift the heat loadfrom electric boiler housestoN-I CHPresulting inrelease of 325 MWof electric power. Construction ofheating main No 4, Irkutsk 1 390 March 2005 - March 2008 NPV – 8 657 mln rubles PI – 6.52 IRR – 53 % DPBP – 5.06 Projectprovides forreconstruction of existing and construction of newheat distribution networksin order to shift the heat load from electric boiler houses in Lenin district of Irkutsk,which are inefficient under transition to free market to northern industrial hub coal-fired boiler as well asHeating main-6in Angarskin order torelease heat capacity ofCHP-10 as a result of transfer of part of hot water heat load to CHP-9. Such stepswill make it possible to unite heat distribution systems of Irkutsk and Angarskas a result of transit heating main construction. Reconstruction ofheat distribution networks inLenindistrictof Irkutskand Heating main-6construction inAngarsk NPV – 2 389 mln rubles PI – 2.33 IRR – 28% DPBP – 8.39 2 130 May 2008 – December 2011 Furthermorethe Company annual expenditures related to energy system safety support program amount up to 3-4 billion rubles The Company has vast experience in implementation of a number of major investment projectsaimed atreaching the strategic targetsand economic efficiency increase

6. KYOTO PROTOCOL-RELATED PROJECTS At present two projects are underway within Kyoto protocolframework: Project description Replacement of Bratskaya HPP turbine wheels (reconstruction of 6 turbines) Project provides forreplacement of 6 wheels atturbinesNo 13 through 18, which will result in efficiency increase and possibility to increase electric power production using the same amount of water, releasing TPP,reducing coal burning andreducinggreenhouse gases emissions Enhancement ofNovo-Lenino heat supply Construction of new and reconstruction of existing heat distribution networks and equipment of northern industrial hub boilerto transfer heat load from low-efficient electric power boilers. It makes it possible to produce the same amount of heat energy with lower emission volume Project status Project is approved by Coordination Center on Kyoto Protocol implementation in the Russian Federation (Ministry of the Economic Development of Russia). Selection is underway of the buyer ofemission cuts units Package of justification documentsis sent to external examination (determination) Project impact 1.5 million СО2 or ~ €15 million 4 million тСО2 or ~ €40 million

7. DIAGRAM OFPOWER INDUSTRY DEVELOPMENTAND PROSPECTIVE CONSUMERS Deposits - gold ore - gas Total increase ofdemand inelectric powerby 2020 canexceed 4 thousandMW. - oil OPS-10 VSTO Lensk - iron ore Unificationwith Yakutia energy system Vakunaiskoye Verkhnechonskoye Ust-Ilimsky Iron ore mining and processing plant Gold mining LLCLZRK OJSC Vysochaishy LLCDruza Peledui Dulisminskoye Yaraktinskoye Markovskoye Talakanskoye Petropavlovsk ChertovoKoryto GTU OJSCIrkutskenergo Capacity: 1200 MW KODINSK Vizirny Perevoz Ust-Ilimsk Sukhoi Log Gold mining Deposit Sukhoi Log PPRudnogorsk OJSCBZF - Construction of newelectric furnaces Kirensk OPS-8 VSTO Muskovit Mamakan Sogdiogdon OJSCRussian Railways Increase oftransportation volumeusingBАМ, railroad line construction Bratsk Ust-Kut Ozernaya Korshunikha TOKAMALA BPP Bratskoye Kirenga Taishet Taksimo Tulun OPS-4 VSTO OJSCRUSALTaishet smelter Nizhneangarsk Mining and processing plant construction based onChineiskoye, Udokanskoye, Kholodninskoyedeposits Deposits of polymetals Kovyktinskoye Chikanskoye Sayansk Tyret facilities existing planned HV line 500 kV SS 500 kV HV line 220 kV SS 220 kV HV line 110 kV Irkutsk Klyuchi Gas pipeline ToGusinoozerskayaTPP Gas-fedTPP

8. PROJECTS UNDER CONSIDERATION RELATED TO POWER GENERATION DEVELOPMENT Steps Comments Key parameters Lifting of capacity limitationstoexistingCHP • Available – 393 MW • Maximum capacity increase by 2014. • Investments – 5 016 million rubles Reconstruction andmodernization of CHP equipment Construction of newgas-fedTPP 1200 • Capacity – 1 200 MW • Putting into operation: 1stunit – 2015, 2ndunit – 2017, 3rdunit - in 2019. • Investments – 54 000 million rubles Construction of newgas-firedTPPin Ust-Kut • Capacity – 18 MW • Putting into operation: 2013. • Investments – 863 million rubles Construction ofMiniCHP-18 Construction ofgas-firedMiniCHP-18 in Bratsk Construction of 3 MiniCHPin Irkutsk • Capacity – 3 Х 100 MW • Putting into operation: 2014, 2016, 2018. • Investments – 13 500 million rubles Construction of newgas-firedCHPin Irkutsk Extension of existing CHP Construction of 2 new units at Novo-ZiminskayaCHP • Capacity – 320 MW • Putting into operation: 1stunit – 2018, 2020. • Investments – 22 080 million rubles Total: Capacity increase – 2 231 MW Investments - 95.5 billion rubles

9. BRATSKAYA HPP

10. TURBINE WHEELS REPLACEMENT AT BRATSKAYA HPP

11. BRATSKAYA HPP OPEN DISTRIBUTIVE SYSTEM

12. CHP-10,ANGARSK (HIGH-PRESSURE CHP)

13. UST-ILIM CHP,UST-ILIMSK (HIGH-PRESSURE CHP)

14. CHP-10 TURBINE DEPARTMENT

15. COAL STIP MINE

16. CHEREMKHOVSKY COAL LICENCE PLOT

17. COAL LOADING

18. COAL LOADING

19. Building of OJSC IrkutskenergoExecutive Directorate Building of LLC KVSUAdministration

20. THANK YOU FOR YOUR TIME! 20