Facts Figures 2012

FACTS & FIGURES
September 2012
RWE Facts & Figures | Updated September 2012
Forward-looking statement
RWE Facts&Figures 2012 contains certain forward-looking statements as defined by US federal securities laws. This predominantly relates to the following statements:
> Projections of revenue, income, earnings per share, capital expenditure, dividends, the capital structure and other financials; > Statements of plans or objectives for future operations or concerning the companys future competitive position; > Expectations of future economic performance; and > Statements of assumptions underlying several of the foregoing types of statements, all of which are forward-looking statements.
Also words such as anticipate, believe, estimate, intend, may, will, expect, plan, project, should and similar expressions are intended to identify forward-looking statements. The forward-looking statements reflect the judgement of RWEs management based on factors currently known to it. No assurances can be given that these forward-looking statements will prove accurate and correct, or that anticipated, projected future results will be achieved. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. Such risks and uncertainties include, but are not limited to, changes in the general economic and social environment, business, political and legal conditions, fluctuating currency exchange rates and interest rates, price and sales risks associated with a market environment in the throes of deregulation and subject to intense competition, changes in the price and availability of raw materials, risks associated with energy trading (e.g. risks of loss in the case of unexpected, extreme market price fluctuations and credit risks resulting in the event that trading partners do not meet their contractual obligations), actions by competitors, application of new or changed accounting standards or other government agency regulations, changes in, or the failure to comply with, laws or regulations, particularly those affecting the environment and water quality (e.g. introduction of a price regulation system for the use of power grids, creating a regulation agency for electricity and gas or the introduction of trading in greenhouse gas emissions), changing governmental policies and regulatory actions with respect to the acquisition, disposal, depreciation and amortisation of assets and facilities, operation and construction of plant facilities, production disruption or interruption due to accidents or other unforeseen events, delays in the construction of facilities, the inability to obtain, or to obtain on acceptable terms, necessary regulatory approvals regarding future transactions, the inability to successfully integrate new companies within the RWE Group to realise synergies from such integration and the potential liability for remedial actions under existing or future environmental regulations and the potential liability resulting from pending or future litigation. Any forward-looking statement is valid only as of the date on which it is made. RWE neither intends to, nor assumes any, obligation to update these forward-looking statements. * Footnotes are to be inserted manually (using copy and paste). For additional information regarding risks, investors are urged to consult RWEs latest annual report, other reports recently filed with the Frankfurt Stock Exchange and the material furnished to the US Securities and Exchange Commission by RWE.
Organisation
RWE in a nutshell Board Structure Germany: Power Generation Germany: Sales/Distribution Networks Netherlands/Belgium United Kingdom Central Eastern and South Eastern Europe Renewables Upstream Gas & Oil Trading/Gas Midstream 5 7 8 10 12 14 17 20 22 24 26
91
Market data
Electricity > Generation > Fuels > Trading > Grid > Supply Gas > Trading > LNG > Storage > Downstream > Supply > Turkish market > Czech market 92 93 113 115 118 121 133 134 136 138 140 141 145 146
28
Strategy & financing

Strategy RWE share Fixed income financing Risk management 29 47 50 58
151
RWE
Electricity > Generation > Fuels > Trading > Grid > Supply Gas > Upstream > Storage > Trading > Downstream Investor Relations 152 153 184 187 189 190 197 198 207 209 212 219
62
Political environment
Overview Combined Heat and Power (CHP) Act Renewable Energy Act Climate policy Emissions trading Large Combustion Plant Directive (LCPD) Grid 63 64 65 72 75 80 82
Organisation
Market data
RWE
Organisation
5 7 8 10 12 14 17 20 22 24 26 RWE in a nutshell Board Structure Germany: Power Generation Germany: Sales/Distribution Networks Netherlands/Belgium United Kingdom Central Eastern and South Eastern Europe Renewables Upstream Gas & Oil Trading/Gas Midstream
ORGANISATION RWE in a nutshell
STRATEGY & FINANCING
POLITICAL ENVIRONMENT
MARKET DATA
RWE
RWE today: One of the leading integrated European utilities

RWE markets Leading positions in core markets
Product Market1 Germany UK Netherlands Central Eastern and South Eastern Europe Electricity No. 1 No. 4 No. 2 > No. 2 in Hungary > No. 3 in Slovakia > No. 5 in Poland > Presence in the Czech Republic > Presence in Turkey No. 3 Gas No. 3 No. 4 No. 1 > No. 1 in the Czech Republic > No. 2 in Slovakia > Leading position in Hungary
RWE markets with established market positions Growth markets under observation (initial activities in some cases)
Additional markets especially for renewables Additional markets especially for upstream gas & oil
x/y of electricity/gas
Forecast average growth consumption in % p.a. (2011 2020)
Total Europe
No. 6
We have leading positions in two of Europes largest markets as well as in fast growing SEE/CEE markets and own a large upstream position in both Europe and North Africa.
1 Market positions of the RWE Group in terms of sales.
ORGANISATION RWE in a nutshell
MARKET DATA
RWE
RWEs customers as of 31 December 2011

Million
Electricity
17
Gas
Water
151
10
15
20
1 Figure relates to drinking water and sewage water. Population served in Continental Europe.
ORGANISATION Board
MARKET DATA
RWE
The Executive Board of RWE AG
Peter Terium
Chief Executive Officer of the Executive Board (appointed until 31 August 2016)
Dr. Rolf Martin Schmitz

Deputy Chairman of the Executive Board Chief Operating Officer (appointed until 30 April 2014)
Dr. Leonhard Birnbaum

Chief Commercial Officer (appointed until 30 September 2013)
Alwin Fitting
Chief Human Resource Officer (appointed until 31 March 2013)
Dr. Bernhard Gnther

Member of the Executive Board (appointed until 30 June 2017)
Dr. Rolf Pohlig

Chief Financial Officer (appointed until 31 December 2012)
ORGANISATION Structure
MARKET DATA
RWE
The RWE Group

RWE AG (Group Centre)
Germany Power Generation Sales/ Distribution Networks RWE Deutschland
Netherlands/ Belgium
United Kingdom
Central Eastern and South Eastern Europe
Renewables
Upstream Gas & Oil
Trading/Gas Midstream
RWE Power
Essent
RWE npower
RWE East
RWE Innogy
RWE Dea
RWE Supply & Trading
NET4GAS Gas transmission system operator in the Czech Republic (unbundled)
Internal services RWE Consulting RWE IT RWE Service RWE Technology
ORGANISATION Structure
MARKET DATA
RWE
RWE Group structure: a mirror of the value chain

Raw material production Power generation Energy trading/ gas midstream Electricity and gas networks Electricity and gas sales
Gas and oil
Lignite
Wood pellets
Conventional
Renewables
RWE Dea
RWE Power
RWE Innogy
RWE Power
RWE Innogy
RWE Deutschland
RWE East
RWE npower
RWE npower
RWE East
Essent
Essent
1 NET4GAS1
RWE npower
RWE East
RWE Power
Essent
1 Gas transmission system operator in the Czech Republic (unbundled).
> Integrated business model: strong presence in all parts of the energy value chain > Stability and growth: well balanced portfolio of leading market positions in mature and growing markets in Europe
ORGANISATION Germany
MARKET DATA
RWE
Germany: Power Generation (I)

Who we are
> RWE Power, with two registered offices in Essen and Cologne, is Germanys biggest electricity producer. > The company banks on a broad energy mix and to a large extent is able to draw on its own raw material base (e.g. lignite). > Our power plants have an installed capacity of more than 31 GW. > Enhancing flexibility in the power plant fleet and in the opencast mines is one of the main challenges. Increasing electricity price volatility requires the development of market-oriented power plant dispatch and an increase in the flexibility parameters of the power stations. > With a 43 percent efficiency rate, our twin-unit plant BoA 2&3 was commissioned in August 2012. It is the worlds most advanced lignite-fired power station.
Key figures
EBITDA ( million) Operating result ( million) Workforce1
1 Converted to full-time positions.
2011
3,252 2,700 15,371
2010
4,510 4,000 15,409
10
MARKET DATA
RWE
Germany: Power Generation (II)

Generation capacity1 as of 31 Dec 2011 (MW)
Lignite Renewables Pumped storage, oil, other Gas Nuclear Hard coal 9,799 313 2,489 5,228 3,901 9,555 Nuclear 34.3
Power generation1 2011 (billion kWh)

Lignite Renewables Pumped storage, oil, other Gas Hard coal 68.3 1.4 2.2 11.8 34.0
31,285
152.0
Power plant new build project

Westfalen D+E, Hamm
Two new hard coal-fired units will replace two 160-megawatt units commissioned in 1962/63 and expand the capacity of the site. Owing to the high efficiency of about 46%, the specific carbon emissions of the two new units will be about 20% lower than the current average of hard coalfired power plants in Germany. > > > > Fuel: hard coal Capacity: 1,528 MW Efficiency: 46% Start of operation: End of 2013
Major power plants in Germany

Natural gas Power plant Thermal power plant Gas and steam Waste gas recycling Lignite Opencast pit Power plant Factory Hard coal Power plant Nuclear Nuclear power plant Other Hydro power Refuse incineration
1 Including minor capacities of the Sales/Distribution Networks business area.

11
MARKET DATA
RWE
Germany: Sales/Distribution Networks (I)

Who we are
> The RWE Groups German distribution network, sales and energy efficiency operations are pooled in RWE Deutschland AG since January 2011. > It is the RWE Groups largest affiliate, encompassing the German regional companies enviaM, KEVAG, LEW, Swag and VSE. > Furthermore, the company holds direct stakes in some 70 regional and municipal utilities. > Significant importance is accorded to partnerships with municipalities. Via its subsidiaries, RWE Deutschland ensures the reliable and efficient operation of electricity, gas and water distribution networks in more than 3,500 cities and communities and in several regions is responsible for street lighting.
Key figures
External revenue ( million) EBITDA ( million) Operating result ( million) Workforce1
2011
20,354 2,167 1,505 20,398
2010
18,456 2,218 1,575 18,775
12
MARKET DATA
RWE
Germany: Sales/Distribution Networks (II)

Electricity customers1 (thousand)
8,000 6,000 4,000 2,000 0
2009 2010 2011
External electricity sales 2011 (billion kWh)

6,959 Distributors Industrial and corporate customers Residential and commercial customers 60.4
6,823
6,674
31.4
117.3
25.5
1 Households and small commercial enterprises.
Gas customers1 (thousand)

1,500 1,064 1,000 500 0
2009 2010 2011
External gas sales 2011 (billion kWh)

1,295
1,091
Distributors Industrial and corporate customers
31.8
24.0
83.3
Residential and commercial customers
27.5

13
ORGANISATION Netherlands/Belgium
MARKET DATA
RWE
Netherlands/Belgium (I)
Who we are
> Essent is the largest energy company in the Netherlands. The company has a well-balanced and flexible generation portfolio (consisting primarily of gas and hard coal power stations). In total, Essent had 3.1 GW in generation capacity at the end of 2011 and produced some 11.5 billion kWh of electricity in 2011. > By investing into processes to co-fire biomass at our Amer and Eemshaven power stations we intend to further increase the proportion of renewables in our energy mix. > In 2011, 2.2 million and 1.9 million households and small commercial enterprises were supplied with electricity and gas in the Netherlands, respectively. > Two new gas power stations went online at the beginning of 2012. A state-of-the-art hard coal-fired power plant is currently being built.
Key figures
2011
5,818 462 245 3,794
2010
6,510 660 391 3,899
14
MARKET DATA
RWE
Netherlands/Belgium (II)
Generation capacity as of 31 Dec 2011 (MW)
Gas 1,897
Essents major power plants (2012)

Energiecentrale Eemshaven Coal/Biomass, 1,560 MW (under construction)
Hard coal Renewables (Biomass co-firing)
916
3,144
331 Bio-energiecentrale Cuijk Biomass, 25 MW
Power generation 2011 (billion kWh)

Gas 5.1
Moerdijk I, Moerdijk Gas, 339 MW Moerdijk II, Moerdijk Gas, 426 MW
Hard coal
5.1
11.5
Amercentrale, Geertruidenberg Coal, gas, biomass, 1,226 MW Swentibold, Geleen Gas, 245 MW
Claus C, Maasbracht Gas, 1,304 MW Claus A, Maasbracht Gas, 610 MW
Renewables
1.3
+ various midsize cogeneration power plants
15
MARKET DATA
RWE
Netherlands/Belgium (III)

10.7
36.9
21.0
Industrial and corporate customers 10.3 Industrial and corporate customers 50.8
87.7
Power plant new build project

Eemshaven The 50 hectare site in Eemshaven which can be partially fuelled by biomass is being built to generate electricity primarily for the Dutch market. With an efficiency of more than 46% it will be one of the worlds most modern hard coal-fired power stations. > > > > Fuel: hard coal/biomass Capacity: 2x780 MW Efficiency: ~46% Start of operation: 2014
Electricity and gas customers1 (thousand)

3000 2,339 2,329 2,346 2000 1000 0 Electricity Gas 2,019 2,016 2,024 2009 2010 2011

16
ORGANISATION United Kingdom
MARKET DATA
RWE
United Kingdom (I)

Who we are
> RWE npower is domiciled in Swindon near London and operates and manages a flexible power plant portfolio with an installed capacity of about 11.5 GW as of end 2011. > Around 4 million and 2.5 million households and small commercial enterprises are supplied with electricity and gas, respectively. In 2011, RWE npower generated almost 30 billion kWh of electricity about 10% of the electricity consumed in the UK. > In May 2012 RWE npower started to commission a new state-of-the-art 2,188 MW combined cycle gas turbine (CCGT) power station at its Pembroke site. The power station comprises five generating units and is able to generate power for around 3.5 million homes.
Key figures
2011
7,696 606 357 12,053
2010
7,759 504 272 11,711
17
MARKET DATA
RWE
United Kingdom (II)

Major power plants in the United Kingdom
Gas Coal CCGT Oil/Gas Biomass Gas 4,557
Generation capacity as of 31 Dec 2011 (MW)

Renewables Hard coal 742 3,512
11,468
Pumped storage, oil, other
2,657
Pembroke 2,188 MW
Staythorpe 1,728 MW
Aberthaw B 1,554 MW
Didcot A+B 1,420/ 1,958 MW
Little Barford 635 MW
Great Yarmouth 380 MW
Power generation 2011 (billion kWh)

Gas 21.3
Littlebrook D 1,140 MW Tilbury 750 MW Fawley 968 MW
Hard coal
8.6
29.9
18
MARKET DATA
RWE
United Kingdom (III)

Industrial and corporate customers

32.9
38.0
50.3
Residential and commercial customers 17.4 Industrial and corporate customers 2.2
40.2
Electricity and gas customers (households and small commercial enterprises, thousand)
8,000 6,000 3,877 4,000 2,000 0
Electricity Gas Total
6,438 3,935 2,561 2,636
6,571
2010 2011
19
ORGANISATION CEE and SEE
MARKET DATA
RWE
Central Eastern and South Eastern Europe (I)

Who we are
> RWE East, based in Prague, is a subsidiary wholly owned by RWE AG. It began overseeing RWEs affiliates in Central Eastern and South Eastern Europe as well as Turkey as of 1 January 2011. > These affiliates include RWE Transgas in the Czech Republic, RWE Hungria in Hungary, RWE Polska in Poland, VSE in Slovakia and RWE Holding in Turkey. RWE East also heads up projects, e.g. in Croatia and Romania. > In 2011, the company sold just under 24 billion kWh of electricity as well as 59 billion kWh of gas.
Key figures
2011
4,990 1,364 1,109 11,328
2010
5,297 1,440 1,173 11,163
20
ORGANISATION CEE and SEE
MARKET DATA
RWE
Central Eastern and South Eastern Europe (II)

Markets and market positions in terms of sales External electricity sales 2011 (billion kWh)
Industrial and corporate customers 9.2
Residential and commercial customers RWE Polska: Electricity: No. 5 VSE Electricity: No. 3 Gas: No. 2 RWE Turkey Electricity: presence
8.7
RWE Transgas Electricity: presence Gas: No. 1 RWE Hungria Electricity: No. 2 Gas: leading position

Industrial and corporate customers 27.4
RWE East core markets Growth markets under observation Other RWE Group core markets
Residential and commercial customers 27.0
21
ORGANISATION Renewables
MARKET DATA
RWE
Renewables (I)
Who we are
> RWE Innogy was established in February 2008; it pools the RWE Groups renewables expertise and power stations, focussing regionally on Europe. > Onshore and offshore wind power projects are a focus of the company's activities. RWE Innogy will also expand its biomass and hydroelectric activities. We also support the development of new technologies for the future. > RWE Innogy was launched with 1,100 MW in 2008. At present, we already operate a power plant capacity of around 2.4 GW. > We are especially strong in our home market in Germany, followed by the United Kingdom, Spain, the Netherlands, Poland and Italy.
Key figures
2011
443 338 181 1,493
2010
366 211 72 1,232
22
ORGANISATION Renewables
MARKET DATA
RWE
Renewables (II)
RWE Innogys asset base by region (MW) Generation capacity as of March 2012 (MW)
Onshore wind Hydro NL UK BE DE France Switzerland Czech Republic Poland Biomass Offshore wind 110 150 1,607 542
2,4111
1 Including minor capacities in solar and biogas.
Offshore wind projects

In operation North Hoyle1, UK, 60 MW:
Completely commissioned 2004
Italy Portugal Spain
Rhyl Flats, UK, 90 MW:

Thornton Bank I2, BE, 30 MW:

1 2 3 4 RWE Innogy (33%), RWE Innogy (27%), RWE Innogy (60%), RWE Innogy (50%),
Under construction Nordsee Ost, GER, 295 MW Gwynt y Mr3, UK, 576 MW Greater Gabbard4, UK, 504 MW Thornton Bank II+III2, BE, 295 MW
Onshore wind Offshore wind
Biomass Hydro
New technologies
owned by Zephyr Investments Ltd. owned by C-Power consortium. Stadtwerke Munich (30%) and Siemens (10%). Scottish and Southern Energy (50%).
23
ORGANISATION Upstream Gas & Oil
MARKET DATA
RWE
Upstream Gas & Oil (I)

Who we are
> Headquartered in Hamburg, RWE Dea is active in the international exploration and production of gas and oil, benefiting from its extensive experience over a corporate history spanning more than 100 years. > RWE Dea has production facilities in Germany, the United Kingdom, Norway, Denmark and Egypt and holds licenses in Algeria, Ireland, Libya, Mauritania, Poland, Turkmenistan and Trinidad and Tobago. In Germany, RWE Dea also operates large-scale underground storage facilities for natural gas. > RWE Dea produced 2,664 million cubic metres of gas and 2,478 thousand cubic metres of oil during fiscal 2011, resulting in a total output of 31.8 million barrels of oil equivalent. > In 2014, a production level of 40 million barrel of oil equivalent and an operating result of about 800 million after planned disposals is expected.
Key figures
2011
1,766 923 558 1,362
2010
1,353 619 305 1,363
24
ORGANISATION Upstream Gas & Oil
MARKET DATA
RWE
Upstream Gas & Oil (II)

Gas production 2011 (million m3 OE)
Germany 1.8
Oil production 2011 (million m3)

Germany 0.9
United Kingdom
0.5
2.6
Norway
0.9
2.5
Egypt Denmark 0.5 0.2
Norway
0.3
Development of reserves and resources (million m3 OE)

250 200 150 100 50 0 111
20 10
Capital expenditure ( million)

1,000
228 162
51 91
237 158
56 104
855 477 505 606 701 507
Proven resources Reserves
800 600 400
66
40 26 2010
2 01 0
79
48 31
20 11
137
G e s a mt
102
2 01 1
133
G e s a mt
200 0
Gas
Oil
2011 Total
2006
2007
2008
2009
2010
2011
25
ORGANISATION Trading/Gas Midstream
MARKET DATA
RWE
Trading/Gas Midstream (I)

Who we are
> RWE Supply & Trading is a leading European energy trading company, acting as the Groups hub for all tradable commodities (such as power, gas, coal, oil, and emission certificates). The division thus functions as an interface between the RWE Group and the global wholesale markets for energy and energy-related raw materials. > The headquarters in Essen boast Europes largest and most sophisticated energy trading floor. Additional trading floors or subsidiary and affiliate offices are located in London, Swindon, Den Bosch, Geneva, Singapore and New York. > With an annual gas procurement of approx. 45 billion cubic metres RWE Supply & Trading is one of the strongest competitors in the European gas industry.
Key figures
2011
5,750 -784 -800 1,562
2010
7,517 -7 -21 1,512
26
ORGANISATION Trading/Gas Midstream
MARKET DATA
RWE
Trading/Gas Midstream (II)

Energy sales to industrial customers 2011 (billion kWh) Electricity
25% 23% 47% 22%
Trading volumes 2011

> 1,435 billion kWh of power > 753 billion cubic meters of gas > 618 million barrels of oil > 644 million CO2 certificates
Gas
Aluminium, steel & mining Fine chemicals & pharmaceuticals Transport, automotive & other Glass, paper & cement Primary industry/ petrochemistry
23.2
12% 32% 8% 4%
15.9
7% 21%
Trading floors and subsidiary/affiliate offices
27
Organisation
Market data
RWE

29 47 50 58 Strategy RWE share Fixed income financing Risk management
28
ORGANISATION
STRATEGY & FINANCING Strategy
MARKET DATA
RWE
RWEs journey over the next five years
> Cornerstones of strategy remain > Adjust execution of strategy to changing framework conditions No further nuclear ambitions with existing operations phasing out Continued expansion of renewables including position in photovoltaic > Increasing partnerships to reduce risks and leverage capital base > Disciplined investment approach: operating cash flow to cover dividends and capex by 2014/15 at the latest
29
ORGANISATION
MARKET DATA
RWE
More international, while maintaining a regionally focused strategy

Core markets in Northwest and Central Europe Regional growth markets mainly CEE/SEE, especially Turkey Renewables business in and around our traditional core markets Upstream gas & oil position/projects mainly in Europe, Caspian region, Africa and Trinidad & Tobago
RWE markets with established market positions Growth markets under observation/first activities Additional markets especially for renewables business Additional markets for upstream gas & oil
30
ORGANISATION
MARKET DATA
RWE
More sustainable: Three levers to execute our strategy

Lower CO2 emissions
> Reduce specific CO2 emissions by more than 20% by 2020 compared to 2005 Specific CO2 emissions exposure t/MWh
0.90 0,90 0.85 0,85 0.80 0,80 0.75 0,75
0,70 0.70 0,65 0.65 0,60 0.60 0,55 0.55 0,50 0.50 2005 2008 2011 2014 2017 2020
More renewables
> Increase renewable generation capacity to at least 20% by 2020 Estimated generation portfolio 2020 ~ 20% ~ 5%
Efficient use of energy

> Increase efficiency of fossil fuelled power plants > Offer efficiency enhancing energy products to end costumers
Actual Target path
~ 40%
~46 GW ~ 35%
Nuclear Coal (partly highly efficient)
Gas/other Renewables
31
ORGANISATION
MARKET DATA
RWE
More robust, with a well balanced portfolio approach

Active along the whole value chain Broad geographic diversification in known territory to minimise regulatory and political risks Balanced generation portfolio across all technologies Continuous contribution from stable regulated business Invest in most economic renewable technologies Exposure via RWE Dea to global unregulated commodity prices
Unregulated ~70% International ~1/3
Operating result 2011
5.8bn
Germany ~2/3
5.8bn
Regulated ~30%
32
ORGANISATION
MARKET DATA
RWE
Key priorities 2012/2013

Disposal programme
> Divestments of up to 7 billion by the end of 2013 > Majority of sales processes underway > Disposal of 19% in VSE (GER) closed > Agreement for sale of Berliner Wasserbetriebe signed
Gas supply contracts

> Completion of gas price reviews envisaged for 2013 at the latest > Structural solutions to eliminate gas-to-oil spread > Renegotiations continue for remaining contracts with a combined volume of 11 bcm
Efficiency enhancement
> 2012 programme on track to be completed > Measures of new programme fully identified > RWE 2015 is laying the foundation for further efficiencies post 2014
33
ORGANISATION
MARKET DATA
RWE
RWE 2015 four action fields to align RWE with changing market environment
> Identify opportunities of energy market transformation Strategy > Align execution of strategy to changing market environment > Eliminate structural and operational duplications and clarify interfaces > Establish European generation company > Drive efficiency enhancements and operational excellence > Realise efficiencies of 1 bn by 2014 compared to 2012
Structures/ Roles
Functional excellence
Cultural change
> Align management and employees across all parts of RWE > Foster high performance culture
34
ORGANISATION
MARKET DATA
RWE
Streamlined and disciplined investment programme

billion
~6.5 Day-to-day ~1.9 Replacement, of which ~20% efficiency enhancement ~7.6 Growth Renewables, Upstream, CEE/SEE (~6.0)
> Peak of investment programme in 2010/2011 > Finalising conventional power generation programme mainly in 2012 and 2013
~16
> More than 60% of our capex will be spent in our international businesses > Sustainable long-term capex level of up to 5 bn p.a. of which day-to-day capex up to 2.5 bn p.a.
5.9
6.4
6.4
~6
~4 5 p.a.
> Approx. 16 bn capex programme for 2012 2014 of which c. 8 bn for growth/efficiency enhancement, thereof c. 6 bn in our growth areas Renewables, CEE/SEE and Upstream Gas & Oil > Committed capex (including day-to-day, approx.): 2012 2013 2014 95% 85% 65%
2009
2010
2011
2012e
2013e
2014e
1 After planned divestments.

35
ORGANISATION
MARKET DATA
RWE
6 billion earmarked for growth areas until 2014

CEE/SEE2
> Growth opportunities mainly in generation > Regional focus on Turkey and Poland
Renewables (RWE Innogy)2

> Target capacity of 4.5 GW (in operation or under construction) by 2014 > Operating result of 500 million by 2014 > Balanced generation portfolio across countries and technologies:
~ 10%
Upstream Gas & Oil2
> 2014 targets post planned disposals: Gas and oil production of ~ 40 mm boe Operating result of ~ 800m > Development focus on UK, Norwegian and North African gas fields > Longer term growth secured through continued successful exploration effort
~ 30%
~6
bn1
~ 60%
Regional diversification across core markets Focus on most cost competitive technologies to minimise regulatory risk
> Large project pipeline of c. 14 GW > 1.1 GW currently under construction
1 Growth and replacement capex, excluding day-to-day capex. 2 Divisional split; regional overlap due to potential upstream and renewable investments in Central Eastern/South Eastern Europe.
36
ORGANISATION
MARKET DATA
RWE
By 2014 we will have renewed more than 25% of our electricity generation fleet
Gas
BoA Neurath 2.1 GW lignite
12.5 GW out of (2011) 49.2 GW
Lignite Hard coal
Staythorpe 1.7 GW CCGT
Moerdijk 2 0.4 GW CCGT
Lingen 0.9 GW CCGT
Claus C 1.3 GW CCGT
Pembroke 2.2 GW CCGT
Denizli 0.8 GW CCGT
Hamm 1.5 GW Hard coal
Eemshaven 1.6 GW Hard coal
2010
H1 2012
H2 2012
Q1 2013
2013/2014
2014
37
ORGANISATION
MARKET DATA
RWE
Conventional power plant new build programme

bn1 2005 2006 2007 2008 2009 2010 2011 2012 2013 Lingen (Gas, 876 MW, 100%) BoA 2&3, Neurath (Lignite, 2,100 MW, 100%) Hamm (Hard coal, 1,528 MW, 77%) Staythorpe (Gas, 1,650 MW, 100%) Pembroke (Gas, 2,188 MW, 100%) Moerdijk 2 (Gas, 426 MW, 100%) Claus C (Gas, 1,304 MW, 100%) Eemshaven (Hard coal/biomass, 1,560 MW, 100%) Denizli (Gas, 775 MW, 70%)
1 Capex at 100% share.
2014
0.5 2.6 2.4 0.8 1.2 0.4 1.1 2.9 0.5

Units A B Units 1 -4 Units 1 -5 Units G F Units D E
38
ORGANISATION
MARKET DATA
RWE
RWE Innogy major project portfolio

bn1 2008 2009 2010 2011 2012 2013 2014 2015 2016 Gwynt y Mr (Wind offshore, 576 MW, 60%) Greater Gabbard (Wind offshore, 504 MW, 50%) Markinch (Biomass CHP, 45 MW el, 88 MW th, 100%) Nordsee Ost2 (Wind offshore, 295 MW, 100%) 2.4 1.9 0.3 0.9 2017
Capacity and earnings targets for RWE Innogy until 2014 are mainly driven by 4 major projects Large scale projects, especially in offshore wind, play a vital role in achieving European renewable targets as growth potential in other areas is limited Utilities like RWE have a competitive advantage in these large-scale projects
1 Capex at 100% share; UK offshore includes investment for grid connection. 2 The construction schedule had to be revised in 2012 due to the delay in the offshore grid connection. In light of latest statements by grid operator TenneT there is a risk of even further delays.
39
ORGANISATION
MARKET DATA
RWE
In 2020 approx. 20% of RWEs generation capacity will be in renewables

Renewables Nuclear
~ 20% ~ 5%
~ 46 GW
~ 40% ~ 35%
Gas/other1
1 Including approx. 8% of others, mainly pumped storage.
Coal (partly highly efficient)
40
ORGANISATION
MARKET DATA
RWE
Stable portfolio: 30% of operating result derived from regulated businesses (2011)
External revenue
Unregulated business 80%
EBITDA
Unregulated business ~70%
Operating result
Unregulated business ~70%
Regulated business
51,686 million
20%
Regulated business ~30%
8,460 million
Regulated business ~30%
5,814 million
Regulated business particularly includes: > German electricity and gas networks > Electricity supply in Hungary > Eastern European electricity and gas networks and storage > Continental European water business > Renewables
41
ORGANISATION
MARKET DATA
RWE
Strict investment discipline provides platform for sustainable dividends

Mid-term target to cover investments and dividends by cash flows from operating activities billion 9.4 > Capex level will normalise beyond 2013 5.5 > Pay-out ratio of 50% - 60% of recurrent net income > Flexibility to adjust investments to meet cash flow, if necessary
8.8
5.5
2010
2011
2014/2015e
Cash flows from operating activities
Capex in property, plant & equipment and financial assets Dividends (incl. minority payments; year of payment)
42
ORGANISATION
MARKET DATA
RWE
Further efficiency enhancements of 1 bn initiated

In million 1 bn programme now backed bottom-up by operational measures
1,000 250 750
~250 Reduced IT-spending ~300 Staff reduction
Several hundred individual measures across the whole RWE group Programme includes c. 300 m from workforce reduction in 2013/14 Fully accretive to operating result (i.e. post cost inflation and one-off cost of programme)
~450 Other cost reductions and efficiency improvements

2013 2014 Total
43
ORGANISATION
MARKET DATA
RWE
Outlook for 2012 / 2013

million 8,460
EBITDA
in the order of 2011
~9,000
Operating result
5,814
Recurrent net income
2,479 2011
in the order of 2011 2012e

after further disposals1
in the order of 2011 2013e

after further disposals1
Dividend
2.00/share
Pay out ratio of 50% 60% of recurrent net income
1 Expected earnings dilution from the remaining up to 7 bn divestment programme: in bn 2012 Full year effect (after 2013) EBITDA ~0.5 Operating result no major dilution effect expected ~0.4 Recurrent net income ~0.3
The 2013 outlook is based on commodity prices as of January 2012.

44
ORGANISATION
MARKET DATA
RWE
Major M&A transactions since FY 2008

Acquisitions Urvasco Energa S.A., Spain Fri-El S.p.A., Italy Powerhouse Holding B.V., Netherlands Greater Gabbard Offshore Windparks Ltd., UK Excelerate Energy, USA Luxempart Energie S.A. (holds stake in SOTEG S.A.), Luxembourg Favorit GmbH, Germany Essent N.V., Netherlands Breagh gas field and surrounding exploration licenses, UK Energy Resources Holding B.V. (ERH, 30% in EPZ) Divestments Rhenag, Germany Tarragona Power, Spain American Water, USA swb, Germany1 Thyssengas, Germany Amprion, Germany Year of acquisition 2008 2008 2008 2008 2008 2009 2009 2009 2009 2011 Year of divestment Percentage of participation 100% 50% 100% 50% 50% 49 to 100% 100% 100% 70% 100% Percentage stake
2008 8.23% 2008 50% 2008 from 100 to 60.5% 2009 from 60.5 to 0% 2009 51% less one share 2011 from 100 to 0% 2011 from 100 to 25,1%
1 Divestment by Essent in order to obtain approval for acquisition of Essent N.V. by RWE.
45
ORGANISATION
MARKET DATA
RWE
In 2011, RWE spent 2,875 million on environmental protection

million Climate protection 1,845 % 64
Clean air2
407
14
Waste disposal Water protection3 Nature and landscape protection Noise abatement Brownfield sites, soil contamination
208 298 93 20 4
7 10 3 1 0
Total: 2,875 million1
1 Including capital expenditure. 2 E.g. operation of flue gas desulphurisation units.
(2010: 2,863 million)

Rounding differences may occur.
3 Mainly purification of wastewater.
46
ORGANISATION
STRATEGY & FINANCING RWE Share
MARKET DATA
RWE
RWE AG shareholder structure

as of December 2011
Shares of subscribed capital BlackRock Private shareholders Employee shareholders 13% 1% RW Energie-Beteiligungsgesellschaft 5% 15%
Mondrian Investment
3%
Other institutional shareholders
63%
> 260,000 shareholders own 614.7 million shares > Free float: 85% (excluding RW Energie-Beteiligungsgesellschaft)
> 86% of all RWE shares are held by institutional investors > The regional breakdown is as follows: Germany USA/Canada UK/Ireland Continental Europe (excl. Germany) Rest of the world 34% 12% 19% 19% 2%
47
ORGANISATION
MARKET DATA
RWE
RWE share profile

as of August 2012 Share information Common shares
Total number of shares Total number of shares outstanding Total number of treasury shares Reuters 575.7 million common shares 575.4 million common shares 0.3 million common shares RWEG.DE (Xetra) RWEG.F (Frankfurt/Main) Bloomberg RWE GY (Xetra) RWE GR (Frankfurt/Main) German Security Identification No. ISIN US CUSIP No. (ADR) Listings 703712 DE 000703 7129 74975E303 Germany official Frankfurt/Main Dsseldorf Xetra Abroad New York, OTC trading (Sponsored level-one ADR programme for common shares) RWEG_p.DE (Xetra) RWEG_p.F (Frankfurt/Main) RWE3 GY (Xetra) RWE3 GR (Frankfurt/Main) 703714 DE 000703 7145 Germany official Frankfurt/Main Dsseldorf Xetra
Non-par-value shares Preference shares

39.0 million preference shares 39.0 million preference shares
48
ORGANISATION
MARKET DATA
RWE
RWE's dividend history

Dividend per share
3.50 Bonus 0.10 1.00 1.75 3.15 4.50 3.50 3.50 2.00
1.00
1.25
1.50
2001 1
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
Dividend yield based on year-end price of RWE common shares

%
4.5% 3.2% 7.1% 5.2% 4.0% 3.7% 2.8% 4.2% 3.3% 7.0% 7.4%
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
1 Truncated fiscal year of RWE AG from 1 July to 31 December 2001.

49
ORGANISATION
STRATEGY & FINANCING Fixed income financing
MARKET DATA
RWE
Management of financial assets: centralised structure

Asset Management Committee (AMC)
> Defines investment strategy > Sets guidelines for the implementation > Members: CFOs of RWE AG, RWE Power, RWE npower, RWE Dea, enviaM, Lechwerke, Swag, Head of Finance of RWE AG
Investment strategy, guidelines & restrictions
Recommendations & reporting > RWE AG subsidiaries: > RWE Pensionstreuhand e.V. (PTV): > RWE Pensionsfonds AG (PF): > UK Pension Trust - RWE npower: 2.2 bn 3.1 bn 6.6 bn 4.1 bn
RWE AG Group Finance

> Centralised asset management by RWE AG Asset management contract
Investment guidelines
Internal management
External management
Master KAGs: RWE AG Group

> Spezialfonds: > Subfunds: 6 36
Master KAGs: PTV + PF

As of 30 June 2012. > Spezialfonds: > Subfunds:
4 66
50
ORGANISATION
MARKET DATA
RWE
RWE's corporate treasury basis for groupwide financial risk management

External market
Capital market Ratings
FX deals (incl. derivatives) Interest deals (incl. derivatives )
CP programme Money market
RWE AG: Corporate Treasury
Liquidity transfer via cashpool
Hedging (fx, interest rates)
Intercompany loans
RWE subsidiaries
> RWE AG acts solely as external counterparty for financial transactions (excluding regulatory requirements) > Corporate Group Treasury has the overall responsibility for treasury operations > Central database for group-wide financial risk management
51
ORGANISATION
MARKET DATA
RWE
Capital market debt maturities and sources of financing

as of 30 June 2012 Capital market debt maturities1
in bn
2.5 2.0 1.5 1.0 0.5 0.0 20 16 12 8 4 0
Strong sources of financing

Fully committed syndicated loan (4.0bn up to Nov. 2015) 0.0bn for liquidity back-up
Commercial paper (up to 1 year)
$1.4bn ($5.0bn) 1.1bn (30 June 2012)
2012
2016
2020
2024
2028
2032
2036
2040
MTN programme (up to 30 years)
30bn 15.9bn (30 June 2012)2
Maturities of debt issued
Hybrid (first call date)
Accumulated outstanding debt (incl. hybrid)
Balanced profile with limited maturities up to end of 2014 (~4.3 billion)

1 RWE AG and RWE Finance B.V., as of 30 June 2012 (incl. USD and CHF hybrid, issued 21 and 28 of June) 2 Bonds outstanding under the MTN-programme, i.e. excluding hybrids. Including hybrids: 19.7bn
52
ORGANISATION
MARKET DATA
RWE
Capital market debt currency and interest exposure

as of 30 June 2012 Bonds, hybrids and other interest rate related positions (e.g. commercial paper and cash) Bonds ( 15.9 bn) and hybrids ( 3.8 bn)
18%
33%
19.7 bn
20.5 bn1
67%
82%
Interest rate fixing expiry > 1 year Interest rate fixing expiry < 1 year
1 Includes interest and cross-currency swaps.

53
ORGANISATION
MARKET DATA
RWE
Credit rating 2012 RWE AG

Standard & Poor's (BBB+, stable outlook)
> On 27 July 2012, S&P downgraded the rating for RWE from A-, negative outlook, to BBB+, stable outlook. > The downgrade reflects S&Ps view of a sustained deterioration of RWE's business risk profile, as well as the Groups weakened cash generation capacity and credit protection ratios in the medium term. Additionally, S&P says that RWE has not made significant headway in executing the announced 7 bn disposal programme. > S&P positively recognizes the capital measures taken and believes that these measurers will help stabilize the Groups financial risk profile at the current level. > RWEs business risk profile is currently seen as strong. > The stable outlook reflects S&Ps assumption that RWE will be able to maintain cash flow credit metrics commensurate with the ratings over the medium term.
Moody's (A3, negative Outlook)

> On 6 July 2012, Moodys confirmed the rating for RWE with A3 negative outlook. > In Moodys view, positive aspects like strong business positions across the energy value chain and the track record of financial discipline and transparency with RWEs leverage tolerance are to an extent offset by a difficult operating environment with negative pressure on cash flows and profitability over 2012-13 from lower achieved power prices, the negative gas/oil spread, the nuclear fuel tax and the phase-out of nuclear power generation in Germany. > The negative outlook reflects both the execution risk around its disposal programme as well as the challenges it faces in dealing with pressures on earnings, both of which increase the uncertainty around RWE's ability to maintain its financial strength at levels consistent with its rating.
54
ORGANISATION
MARKET DATA
RWE
RWE AG: Financial risk management

RWE Group companies are subject to strict risk management which is regulated by group-wide directives Financial derivatives are not to be used for speculative purposes and serve only to hedge risks arising from operations Main financial risk factors are: Foreign Exchange (FX) Risk
> RWE Group companies have to hedge any FX risk with RWE AG > RWE AG measures the net position for each currency and hedges itself with external counterparties (banks) > Measurement and limitation of FX risks is mainly based on an FX value at risk concept [VaR (95/1d)1 < 1m] RWE has two different risk categories: > > Bonds which are held as fixed income assets: Rising interest rates may lead to lower bond prices Average Value at Risk (95/1d)1 in 2011: 7m
Interest Rate Risk
Financing costs: Rising interest rates may lead to higher financing cost Interest rate exposure from financing activities is measured with Cash Flow at Risk Average Cash Flow at Risk (95/1y)2 in 2011: 19m
Counterparty Risk (banks)
> Measurement of exposure (caused by cash, term deposits, FX/IR derivatives etc.) for each bank > RWE allocates for each bank a limit which is usually derived from the banks equity, rating and CDS > Shares are part of RWEs asset portfolio > Average Value at Risk (95/1d)1 of share price changes in 2011: 12m
Equity Risk
1 Confidence level: 95%; holding period: 1 day. 2 Confidence level: 95%; holding period: 1 year.
55
ORGANISATION
MARKET DATA
RWE
RWE bond programme

Major bonds issued by the RWE Group1
Issuer Currency1 Placement Volume Issue Currency in mn 1,808.0 250.0 630.0 1,000.0 530.0 Volume in mn Term in Years Issuance Date Maturity Date Coupon (%) German Securities Code 855327 A1ATAH 855329 A0T3SN A0DAN1 ISIN Code
RWE Finance BV EUR RWE Finance BV USD RWE Finance BV GBP RWE Finance BV EUR RWE Finance BV EUR Redemptions 2012 - 2014 RWE Finance BV EUR RWE Finance BV EUR RWE AG EUR RWE Finance BV EUR Redemptions 2015 - 2018 RWE Finance BV EUR RWE Finance BV GBP RWE Finance BV EUR RWE Finance BV GBP RWE Finance BV GBP Redemptions 2019 - 2023 RWE Finance BV GBP RWE AG EUR RWE Finance BV GBP RWE Finance BV GBP RWE AG JPY Redemptions from 2030 onwards Total
Public Private Public Public Public
1,808.0 203.5 803.6 1,000.0 530.0 4,345.1 2,000.0 850.0 100.0 980.0 3,930.0 1,000.0 727.1 1,000.0 637.8 621.9 3,986.7 969.4 600.0 765.4 1,275.6 208.3 3,818.7 16,080.5
11 3 11 5 10 27% 6 15 15 15 24% 10 20 12,5 13 20 25% 28 30 22 30 30 24%
26.04.2002 11.02.2010 26.04.2002 20.11.2008 23.07.2004
26.10.2012 11.02.2013 03.06.2013 20.11.2013 23.07.2014
6.125 2.000 6.375 5.750 4.625
XS0147030554 XS0485309156 XS0147048259 XS0399648301 XS0196302425
Public Public Private Public Public Public Public Public Public
2,000.0 850.0 100.0 980.0 1,000.0 570.0 1,000.0 500.0 487.5
09.02.2009 20.04.2001 15.11.2002 23.07.2003 20.11.2008 20.04.2001 09.02.2009 06.07.2009 03.07.2003
10.02.2015 20.04.2016 15.11.2017 23.07.2018 31.01.2019 20.04.2021 10.08.2021 06.07.2022 06.12.2023
5.000 6.250 floating 5.125 6.625 6.500 6.500 5.500 5.625
A0T6L5 648661 748536 957955 A0T3SP 648663 A0T6L6 A1AJN3 878761
XS0412842428 XS0127984747 XS0158243013 XS0172851650 XS0399647675 XS0127992336 XS0412842857 XS0437307464 XS0170732738
Public Private Public Public Private
760.0 600.0 600.0 1,000.0 20,000.0
26.04.2002 14.02.2003 17.01.2012 06.07.2009 17.02.2010
03.06.2030 14.02.2033 31.01.2034 06.07.2039 17.02.2040
6.250 5.750 4.750 6.125
855328 748537 A1GZLK A0AJN2
XS0147048762 XS0162513211 XS0735770637 XS0437306904
Hybrid bonds
RWE AG RWE AG RWE AG RWE AG RWE AG Total hybrid capital EUR CHF CHF GBP USD Public Public Public Public Public 1,750.0 250.0 150.0 750.0 1,000.0 1,750.0 208.1 124.9 956.7 814.1 3,853.7 perpetual Limited Limited perpetual limited 28.09.2010 21.10.2011 28.06.2012 20.03.2012 29.03.2012 28.09.20152 04.04.20172 26.07.20172 20.03.20192 12.10.20172 4.625 5.250 5.000 7.000 7.000 A1EWR0 A1MAVP A1PGUU A1ML0G A1ML2E XS0542298012 CH0136594352 CH0185843049 XS0652913988 XS0767140022
1 As of 31 July 2012. 2 First occasion for RWE to redeem the hybrid bond. RWE Facts & Figures | Updated September 2012
56
ORGANISATION
MARKET DATA
RWE
Financial liabilities and assets

excluding hybrid capital as of 30 June 2012 Financial liabilities in billion euros
25
21.3
Financial assets in billion euros

10
Split of securities
17.4 %
20
15.8
2.8 1 1.1 1.4 0.6
8 6 4
6.6 0.7
2.2
7.3
1.0 2.2 0.8
15 10
5.5
13.7
16.5
0.8
5 0.3
0.6
1.8 2.8
2 0
2.9
0.3 0.7 0.4
3.3
82.6 %
Short term Long term Total ( 12 months) (> 12 months)

Bonds, incl. other notes payable Loans with banks Collateral, margin payments1 Other: including CP of 1.1 bn, finance leasing, financial liabilities with non consolidated companies, other financial liabilities
Short term Long term Total ( 12 months) (> 12 months)

Securities Cash/cash equivalents Collateral, margin payments1 Other: other financial receivables, financial receivables with non consolidated companies, other loans receivable Interest bearing instruments Real estate (0%) Equity
Alternative investments (0%)
1 Excluding variation margins which are netted against the fair values of the respective derivatives.
57
ORGANISATION
STRATEGY & FINANCING Risk management
MARKET DATA
RWE
Organisation of risk management in the RWE Group

Group Wide Risk Management System
RWE AG Executive Board
Overall responsibility for group wide risk management system Risk Management Committee Responsible for implementing, monitoring and refining group wide risk management system Group Controlling Controlling and coordination of group wide risk management system
Group Controlling Risk Controlling Unit

Controlling of commodity risks
Group Controlling Credit Risk Controlling Unit

Controlling of credit risks
Accounting Department
Finance Department Financial Controlling Unit

Operating management of financial risks
Controlling of risks in financial reporting
Commodity Management
Management of commodity risks
Asset Management Committee

Management of risks associated with investments in securities
Operating Companies
58
ORGANISATION
MARKET DATA
RWE
RWE's commodity risk management infrastructure

> > > > > Overall responsibility for risk management system Establishes the rules and minimum standards Defines limits for aggregated market and credit risks Takes decisions on transactions that can result in substantial risks Defines the overall hedging strategy
CFO of RWE AG
> Responsible for tracking and monitoring commodity risks with regard to both the market and the credit side
Group Controlling
> Is responsible for the approval of methods and models for the valuation of commodity risks > Sets standards for risk measurement, monitors commodity risks and reports on these to the Executive Board > Analyses and approves credit limits for large commodity counterparties, large suppliers and banks > Manages strategic commodity positions > Grants approvals for detailed hedging strategies and large commodity transactions within the framework determined by the Executive Board > Derives detailed limits for the commodity risks of the operating companies from the risk caps established by the Executive Board
Commodity Management
Operating companies
> Handle operative commodity and credit risk management > Control and monitor commodity risk positions
59
ORGANISATION
MARKET DATA
RWE
RWE Supply & Trading commodity risk limit system

> RWE Supply & Trading is the RWE Groups interface to the wholesale markets for power and energy commodities, while serving as an internal transaction partner for hedging commodity risks > The global risk limits in the energy trading business are set and constantly monitored by the Executive Board of RWE AG > Risk limits are then further detailed:
grants
Global limits for market risks
restrict
Organisational Unit Commodity Management
grants
Detailed market risk limits
Comments on adequacy of limit requests to be granted by executive board and monitors limit utilization
Group Controlling
restrict
RWE Supply & Trading Board
grants Limits for single desks/books/traders
60
ORGANISATION
MARKET DATA
RWE
Credit risk management at the RWE Group

High-level credit policy
> Groupwide credit policy has been established. Above all, it is based on overall limitation and maximum individual counterparty limits and tenors (based on the creditworthiness of a counterparty) for upper-size business
Robust counterparty risk assessment and monitoring
> Counterparties are assessed using internal rating tools, where available external rating information are also taken into account > All counterparties are monitored on an ongoing basis and reviewed on a regular basis
State of the art measurement and monitoring of exposures
> Potential future credit exposure (= potential replacement value) is calculated with a Value-at-Risk-like methodology > In addition, both current and future settlement exposure is measured > Counterparty credit exposures are reviewed on a near-time basis
Clear credit incentives
> Credit capital costs are based on the rating/probability of default (PD) of a counterparty > Performance determination includes credit risk charges
Driver of credit risk mitigation
> Bundling of know-how in a central credit risk management unit > RWE Supply & Trading was a key driver of the EFET1 standards for power and gas with more than 130 EFET agreements having been signed so far > RWE Supply & Trading plays a leading role in the development of exchanges/OTC clearing
1 EFET: European Federation of Energy Traders.

61
Organisation
Strategy & financing Political environment
Market data
RWE
63 64 65 72 75 80 82 Overview Combined Heat and Power (CHP) Act Renewable Energy Act Climate policy Emissions trading Large Combustion Plant Directive (LCPD) Grid
62
ORGANISATION
POLITICAL ENVIRONMENT Overview
MARKET DATA
RWE
Major regulatory measures in the European utility markets

Major regulatory measures in RWEs core markets
Core issue EU Market design/ unbundling 3rd Single Market Package Energy efficiency CO2 reduction Renewables Renewable Energy Directive Conventional generation Large Combustion Plant Directive Industrial Emissions Directive 2012 Amendment to the REA2 Nuclear Phase-out
Energy Efficiency Directive1 ETS Directive
National 2012 Amendment to the Energy Act
Climate Protection Act1 in North Rhine-Westphalia Energy Market Reform1 Carbon Tax ECO/ Green Deal Retail Market Reform1 1 2 3 4 ROC3
More with Less
Coal tax1
SDE+4
Announced or going through the legislative procedure. Renewable Energy Act. Renewable Obligation Certificate. Sustainable Energy Incentive Scheme (Subsidieregeling duurzame energieproductie).
63
ORGANISATION
POLITICAL ENVIRONMENT CHP
MARKET DATA
RWE
German Combined Heat and Power Generation Act1

Issue
Term Aim Object of subsidy
Combined heat and power (CHP) legislation

Effective since April 2002, amended on January 1, 2009 and in July 2012. The provisions of this Act apply to all CHP plants commissioned after July 19, 2012. >Modernisation and new build of high efficient CHP plants for energy conservation and CO2 reduction > 25% share of CHP electricity generation by 2020 >Electricity actually generated in CHP plants (back pressure) including internal consumption of industry >Support is no longer connected to the feed into supply grids >2009: Scope of the law extended to heating grids; 2012: scope extended to cooling grids as well as to heating and cooling storage >The amount and duration of compensation varies depending on the year of operation as well as the size of the plant, whereby modernized plants and fuel cells are assigned a separate compensation category >Plants with commissioning date between January 1, 2009 and December 31, 2020 are eligible for the subsidy >Annual cap of 750 million including 150 million for heating and cooling grids and heating and cooling storage > 396 million in 2010; 5,776 million since April 2002 Allocation to total supplies to end customers from the public supply grid
Levels of subsidy
Volume
Funding
Limitation of the burden on industry >Max. 0.05 ct/kWh for large consumers with a yearly consumption of more than 100,000 kWh >Max. 0.025 ct/kWh for energy-intensive industry (> 4% of energy costs of gross production value) Passing-on clause Network operators have the right to pass on all feed-in payments
1 Figures and scheme taken from the amendment in 2012 effective July 19, 2012.
64
ORGANISATION
POLITICAL ENVIRONMENT Renewable Energy Act
MARKET DATA
RWE
German Renewable Energy Act1 (I)

Issue
Term
Renewable energy legislation

>Effective since April 2000 and mainly amended on August 1, 2004, January 1, 2009 and January 2012 >Different support of plants with service lives of up to 20 years Supports introduction of renewables-based electricity generation plants and helps to meet the emissions reduction target set by the federal government: min. 35% electricity production from renewables by 2020 Electricity actually generated in renewable plants which feed into the supply grid Different price schemes for existing and new renewable plants (wind, water, biomass, solar, biogas, geothermal energy) Approx. 16 billion feed-in tariffs in 2011 without system costs (grid, balancing power); projection for 2012: 18 billion, projection for 2013: 19.3 billion Amount allocated to total supplies to end customers from the public supply grid was about 3.53 ct/kWh in 2011 and is about 3.592 ct/kWh in 2012 Hardship clause came into effect as of January 1, 2006 and was extended on January 1, 2012; reduced amount if a company consumes more than 1 GWh (originally: 10 GWh) and electricity costs are at least 14% (originally: 15%) of gross production value. Reduction of the EEG surcharge to 10% for a share of electricity between 1 and 10 GWh, to 1% for a share of electricity between 10 and 100 GWh. Amount is limited to 0.05 ct/kWh for the share of electricity exceeding 100 GWh. Grid operators have the right to pass on all surcharge payments to the suppliers
Aim Object of subsidy Levels of subsidy Volume
Funding Limitation of the burden for industry
Passing-on clause
1 Figures and scheme taken from the German Renewable Energy Act effective as of January 1, 2012.
65
ORGANISATION
MARKET DATA
RWE
German Renewable Energy Act1 (II)

Renewable Energy Act - Feed-in tariff rates2
ct/kWh Hydropower Landfill gas, sewage gas, pit gas Biogas from biological waste or liquid manure Biomass Geothermal energy Photovoltaics Wind power onshore offshore 3.40 12.70 3.98 8.60 14.00 25.00 6.0 25.30 25.00 30.00 13.5 19.5 4.87 9.91 3.50 19.00
1 Figures and scheme taken from the German Renewable Energy Act effective as of January 1, 2012 (PV: as of April 1, 2012). 2 Depending on size of plant, year of commissioning operation and technology. Source: German Ministry for the Environment, Nature Conservation and Nuclear Safety.
66
ORGANISATION
MARKET DATA
RWE
Renewable energy surcharges expected to increase further

Development of power generated in accordance with the German Renewable Energy Act (REA) and REA surcharges for 2000 2016 (forecast)
bn 0 kWh
2016 2014 2012 2010 2008 2006 2004 2002 2000
10
20
30
40
50
60
70
80
90
100
110
120
130
140
150
160
170
Power generated (bn kWh) Power generated (bn kWh, forecast) Feed-in fees ( bn) Feed-in fees ( bn, forecast)
bn 0
1.0
2.0
3.0
4.0
5.0
6.0 7.0
8.0
9.0 10.0 11.0 12.0 13.0 14.0 15.0 16.0 17.0 18.0 19.0 20.0 21.0 22.0 23.0 24.0
Sources: German Energy and Water Association (BDEW), December 2011. German transmission system operators (www.eeg-kwk.net), data until 2010 as of May 2009, data from 2011 as of November 2010, data from 2012 on as of November 2011 (from 2012 on: fees for market premium, direct marketing and PV self consumption included).
67
ORGANISATION
MARKET DATA
RWE
Renewable energys share of total electricity generation in Germany

Gross generation in Germany (2011) Generation subsidized by REA1
92 billion kWh2
20% Lignite 24.9% 2% Photovoltaic Hydro 46% Photovoltaic
REA1 compensation
16 bn3
Nuclear
17.6%
614.5 billion kWh

Hard coal Gas Other 18.6%
27%
Biomass 1% 27% Hydro Biomass
13.7% 51% 5.3% Wind 26% Wind
Renewable energy 19.9% 1 REA = German Renewable Energy Act. 2 Next to the power generation subsidised by the German REA of 92,266 GWh in 2011, another 12,332 GWh of power from renewable sources (REA electricity) was sold on the free market (direct marketing in accordance with 17 REA). 3 Including avoided network fees. Sources: Gross generation: BDEW, BMWI; REA generation + REA compensation: German transmission system operators (www.eeg-kwk.net) as of November 2010 (provisional data).
68
ORGANISATION
MARKET DATA
RWE
German Renewable Energy Act compensation and forecast through 2016

billion (gross)
25
22.1 20.7
20
23.7 0.1
19.3 18.0 16.0 11.1
15
12.3
10
10.0 7.9 5.8 4.5 1.6 2.2 2.6 3.6 9.0
7.3 0.2 4.0
3.1
3.8
1.2
0
4.3 0.2
5.2 0.3
2012 2013 2014 2015 2016
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
Hydro
Biomass
Onshore wind
Offshore wind
Photovoltaic
Other
Source: Renewable Energy Act medium-term forecast of electricity transmission system operators. Data until 2010 as of May 2009, data for 2011 as of November 2010, data for 2012 onwards as of November 2011 (from 2012 onwards fees for market premium, direct marketing and photovoltaic self consumption included).
69
ORGANISATION
MARKET DATA
RWE
Subsidy efficiency: contribution of German Renewable Energy Act subsidised power generation in 2011
Installed capacity MW Power generated bn kWh1
Power generation Power generation (including generation from direct marketing according to 17 EEG)
39
2,791
1,298
103
6,194
Extra cost in millions of Euros, based on an average electricity price of 60/MWh

1 Next to the power generation subsidised by the German Renewable Energy Act of 92,266 GWh in 2011, another 12,332 GWh of power from renewable sources (REA electricity) was sold on the free market (direct marketing in accordance with 17 EEG). Source: Renewable Energy Act medium-term forecast of electricity transmission system operators, November 2010 (provisional data).
70
ORGANISATION
MARKET DATA
RWE
Installed capacity in Germany compensated according to the Renewable Energy Act

Development of capacity (MW) in 2006 - 2010
51,364
50.000 50,000
40.000 40,000
30.000 30,000
27,071 20,000 20.000
17,554
Total Wind Photovoltaic
10.000 10,000
4,685 1,417 638

2006 2007 2008 2009 2010
Biomass Hydro Others
Source: Federal Network Agency, EEG-Statistikbericht, August 2012.

71
ORGANISATION
POLITICAL ENVIRONMENT Climate policy
MARKET DATA
RWE
The EU has set three 20% targets for 2020. Achievement of some is challenging
Greenhouse gas (GHG) emissions
5,750 5,500 5,250 5,000 4,750 4,500 5% 4,250 1990 1995 2000 2010 2015 2015 1990 1995 2000 2005 2010 2020 2005 2020 4,000 0% 1,500 1,400 15% 10%
Renewable energy sources (RES)

25% 20% 20% target RES share of final energy consumption
Energy efficiency
Mtoe Primary energy consumption (Mt OE)
1,900 1,800 1,700 1,600 EU 27 EU 25 20% target - EU25
Mt CO2e
Actual GHG emissions 20% target
1995
2000
2005
2010
2015
> 2020 just interim step to even tighter targets in 2050 > Nuclear moratorium in Germany has shifted balances by 45Mt per year
> EU RES target translates into country-specific RES targets of member states > Attractive RES subsidy schemes implemented across Europe
> Appears most challenging > Addressed by European Commission now > Country specific concerns: when is a house properly insulated? How fast should we move?
Source: EuroStat, UNFCCC. GHG=Greenhouse Gas Emissions, CO2e=CO2 equivalent, OE=Oil equivalent. Latest available official data from 2009.
1990
2020 72
ORGANISATION
MARKET DATA
RWE
EU 27 is on track towards achieving its 2020 emission reduction target (-20%)

Mt CO2 equivalents 6,500 6,000 > 2009 emissions stand 17% below the 1990 level and therefore very close to the target of -20% by 2020 > Economic crisis accelerated the decline in EU GHGs emissions
baseline
5,500 5,000 4,500
> Return to economic growth may temporarily level off or reverse the decline in emissions > Impact of German nuclear moratorium is assessed at around 45 mt additional emissions per year > Thats 1% of total EU emissions
-20% target
1995 2000 1970 1975 1980 1985 1990 2005 4,000
> CO2 balances for the EU ETS have turned negative and system is now slightly short
Official 2010 GHG inventory
Scaled trend
Mean estimate (2009)
Absolute greenhouse gas emissions in the EU 27, 1970 2009, million ton CO2 equivalents. Source: EEA.
73
ORGANISATION
MARKET DATA
RWE
Renewable energy sources: currently it is far from certain that EU target and utility sector sub-target will be achieved
Share of RES in final energy demand
% 25
20 15 10 5 0 2001 2005 2010 2020
20% EU target +5% p.a.
> According to national renewable energy action plans the targets for 2020 will be met > To achieve these targets renewable energy production needs to increase at an annual growth rate of 5% > To achieve the sub-target for the utility sector, growth in the order of 9% per year is required > This requires close to double the growth seen between 2005-2010 > According to EU estimates, annual capital investments need to double to 70bn
Share of RES in the utility sector

% 40
30 20 10 0 2001 2005 2010 2020
+9% p.a.
74
ORGANISATION
POLITICAL ENVIRONMENT Emissions trading
MARKET DATA
RWE
Allocated CO2 allowances1 in Germany, UK and EU-27 (2011)

Allocated allowances in Germany 2011
Electricity Metals 54% 15%
Allocated allowances EU 27 2011

Electricity Metals Combustion 55% 12% 10% 11% 8% 5%
Combustion Cement & lime Refineries Other industries
12% 8% 7% 4%
401 mt CO2
Cement & lime Refineries Other industries
1,993 mt CO2
Allocated allowances in United Kingdom 2011

Electricity Metals Combustion 52% 11% 20%
Cement & lime Refineries Other industries
6% 8% 3%
223 mt CO2
1 Excluding auctioned certificates and new entrant reserves. Source: EEA.
75
ORGANISATION
MARKET DATA
RWE
EU ETS Emissions in Germany, UK and EU-27 (2011)

Emissions in Germany 2011
Electricity Metals Combustion Cement & lime Refineries Other industries 68% 8% 10% 6% 6% 3% Other industries 4%
Emissions EU 27 2011
Electricity Metals 60% 8% 12% 8% 7%
450 mt CO2
Combustion Cement & lime Refineries
1,879 mt CO2
Emissions in United Kingdom 2011

Electricity Metals Combustion Cement & lime Refineries Other industries 66% 6% 13% 4% 8% 2% Source: EEA.
221 mt CO2
76
ORGANISATION
MARKET DATA
RWE
CDM/JI projects give RWE access to cost-effective reduction of greenhouse gas emissions (I)
Clean Development Mechanism (CDM) Emission reductions through investment by an industrialised country in a country without reduction commitments are credited to the emission account of the investor country
Germany/UK
Investment
Emission rights
E.g. China
Joint Implementation (JI) Emission reductions through investment by one industrialised country in a second industrialised country are credited to the emission account of the investor country
Germany/UK
Source: UNFCCC; http://cdm.unfccc.int.
Investment
Emission rights
E.g. Russia
77
ORGANISATION
MARKET DATA
RWE
CDM/JI projects give RWE access to cost-effective reduction of greenhouse gas emissions (II)
Expected average annual certificates from registered CDM projects by host country in September 2012
China India Brazil Republic of Korea Mexico Indonesia Vietnam Uzbekistan 64.2% 10.9% 3.9% 3.1% 2.0% 1.3% 1.4% 1.0%
> By September 2012, a total of 4,547 registered CDM projects is expected to supply more than 2.2 billion certificates by the end of 2012 > A substantial portion of the certificate volumes contracted are accounted for by Chinese projects
Others
12.2%
Source: UNFCCC; http://cdm.unfccc.int.
78
ORGANISATION
MARKET DATA
RWE
RWEs current Kyoto credit portfolio for 2008-2012

Projects by December 2011
million certificates
100 90 80 70 60 50 40 30 20 10 0
3
Contract volume by technology

Hydro N2 O N2O HFC23 Energy Efficiency Wind Biogas CMM Biomass Methane avoidance Solar Fugitive others
ERPA1 in validation
ERPA1 in validation
~100
Contract volume by region

China South Korea Egypt India South-East-Asia East-Europe Ukraine Russia Least developed countries South America
in operation2
in operation2
Contract volume
Risk adjusted volume
RWE's redemption capacity (2008 - 2020)3
1 ERPA = Emission reduction purchase agreement. 2 In Operation: Projects that have already issued certificates. 3 Latest EU-directive for certificates implies no additional redemption capacity for RWE Power concerning the years 2013 till 2020, but usage of certificates is still enabled post 2012. RWEs redemption capacity consists of the redemption capacity of RWE Power, RWE npower and Essent.
79
ORGANISATION
POLITICAL ENVIRONMENT LCPD
MARKET DATA
RWE
The EU Large Combustion Plant Directive (LCPD)

Since 2008, coal and oil-fired power stations have been governed by the Large Combustion Plant Directive (LCPD). This imposes new limits on the amounts of sulphur dioxide (SO2), nitrogen oxides (NOx) and dust power stations can emit.
Step 1
> Power plants had to choose whether to comply with the LCPD or request a limited life derogation (opt out) > Power stations which opted out are allowed to run for 20,000 hours, or until the end of 2015, whichever comes sooner
Step 2
Those power stations which comply with the LCPD are governed in one of two ways1: > Emission Limit Value (ELV) The power station must adhere to specific limits to the amounts of pollutants produced on a milligram per cubic metre of waste gas basis > National Emission Reduction Plan (NERP) A company is given an overall allowance (amount of a pollutant that can be emitted per year) of emissions it may produce. The emission allowances issued under NERP are tradable within a member state
Step 3
> In addition to the above, existing oil and coal-fired power plants must reduce nitrogen oxide emissions from 500 mg/Nm3 to 200 mg/Nm3 by January 1, 2016. This will entail fitting selective catalytic reduction (SCR) equipment 1 While most the EU member states, including Germany, chose to implement Emission Limit Values (ELV), a number have opted for National Emission Reduction Plans (NERPs), while in the UK individual power plants could choose between being regulated on the ELV, or under a NERP.
80
ORGANISATION
POLITICAL ENVIRONMENT LCPD
MARKET DATA
RWE
Due to the LCPD a shut-down of 1112 GW by the end of 2015 (or earlier) is expected in the UK market
Installation Operator Fuel Installed capacity (MW) 1,960 3,870 1,940 1,960 940 1,300 2,000 1,970 1,000 1,940 1,530 1,370 1,000 1,020 1,960 1,960 2,304 1,152 363 31,539 Capacity opted in1 (MW) 1,960 3,870 1,960 2,000 970 1,000 1,530 980 1,960 2,304 363 18,897 Capacity FGD3 status opted out2 (MW) 1,940 940 1,300 1,940 1,370 1,000 1,020 980 1,152 0 11,642 2 out of 4 units fitted Fitted No FGD Fitted No FGD No FGD Fitted Fitted Fitted No FGD Fitted No FGD No FGD No FGD Fitted Fitted 3 out of 4units fitted No FGD Fitted Eggborough Drax Kingsnorth Ratcliffe Ironbridge Grain Cottam West Burton Rugeley Didcot A Aberthaw Littlebrook Fawley Tilbury Ferrybridge Fiddlers Ferry Longannet Cockenzie Uskmouth Total British Energy Drax Power E.ON UK E.ON UK E.ON UK E.ON UK EDF Energy EDF Energy International Power RWE npower RWE npower RWE npower RWE npower RWE npower Scottish & Southern Energy Scottish & Southern Energy Scottish Power Scottish Power Scottish & Southern Energy Coal Coal Coal/Oil Coal Coal Oil Coal Coal Coal Coal/Gas Coal Oil Oil Coal Coal Coal Coal Coal Coal
1 Compliant with LCPD emission limits (Drax, Eggboroughand Longannet in NERP). 2 Limitation of operating hours to 20,000 between Jan. 1, 2008 and Dec. 31, 2015. No requirement to fit FGD. 3 FGD: flue gas desulphurisation. Source: DECC (DUKES).
81
ORGANISATION
POLITICAL ENVIRONMENT Grid
MARKET DATA
RWE
The German Energy Industry Act: regulating grid access and grid fees in the electricity and gas markets
Unbundling of grids from generation, wholesale and retail
(number of grid operators)
Exploration/ generation
Competition
Exchange trading OTC

Competition
Transport Bundesnetzagentur1 (electricity: 4, gas: 14)
Distribution Bundesnetzagentur1 (electricity and gas: ca. 300)
Retail
Distribution federal states (electricity and gas: ca. 1,200) Competition
Customers
Regulation of grid access and grid fees
1 Federal Network Agency.
82
ORGANISATION
MARKET DATA
RWE
The German Energy Industry Act: unbundling in the German energy grids (3rd Energy Package)
OU3 or ISO4/ ITO5 Obligatory TSO1 Legal unbundling Obligatory Functional unbundling Obligatory
Detailed rules to unbundle staff (ITO: more restrictive), equal treatment programme, distinctive branding
Accounting unbundling Obligatory

Auditor's certificate Separate balance sheets and profit and loss accounts must be disclosed and sent immediately to the regulator
Information unbundling Obligatory

Rules to protect sensitive and important economic information
Obligatory DSO2 >100,000 customers
Obligatory
Detailed rules to unbundle staff, equal treatment programme, distinctive branding
DSO2 <100,000 customers

1 2 3 4 5 TSO = Transport System Operator, to be certified by the national regulator. DSO = Distribution System Operator. OU = Ownership Unbundling, transmission system is directly completely unbundled. ISO = Independent System Operator, only if transmission system was part of a vertically integrated company on 3 September 2009. ITO = Independent Transmission Operator, only if transmission system was part of a vertically integrated company on 3 September 2009.
83
ORGANISATION
MARKET DATA
RWE
The German Energy Industry Act: key elements of grid fee calculation (I)
Investments before / since 2006
in % Electricity Gas Electricity & Gas Electricity & Gas
Framework conditions
> There is an ex ante approval of the revenue caps, but no ex ante approval of the grid fees which can be checked ex post by the Federal Network Agency. RoE The permitted proportion of equity-financed assets is restricted to 40% Current cost accounting for rate of return and imputed depreciation will continue to apply for all investments before December 31, 2005 All investments as from January 1, 2006, will yield interest based on the method of inflationadjusted historic cost accounting and be subjected to imputed depreciation Tax treatment: Recognition of corporation taxes since incentive regulation has become effective (2009). Reflected in higher RoE Full recognition of trade tax (pass-through)
>
>
Allowed RoE 2005-2008 Allowed RoE 1st period1 Allowed RoE 2nd period2
Investments before 2006

1 Electricity 2009-2013, Gas 2009-2012 2 Electricity 2014-2018, Gas 2013-2017
Investments since 2006
84
ORGANISATION
MARKET DATA
RWE
The German Energy Industry Act: key elements of grid fee calculation (II)
Conditions for incentive-based regulation > Returns on equity: 7.14% for existing electricity and gas assets and 9.05% for new investments in the second regulatory period. > Special treatment of investment in growth and restructuring Fast-track treatment of large budgeted growth investment projects by the regulator to ensure adequate and timely remuneration for utilities. But mostly applicable only for transmission system operators. Distribution system operators can adjust the revenue cap by an expansion factor which covers the sustainable expansion of the networks within the regulatory period. > Average efficiency of German electricity distribution companies estimated at 94% indicating average company-specific efficiency targets of only 0.6% p.a. ("individual x factor") in the first regulatory period (in the second regulatory period the individual inefficiency has to be eliminated by the end of the period). > Quality component has been established during the first period: electricity distribution companies with a comparable high quality level get a bonus, companies with a low quality get a penalty. Opportunities and risks are limited by a cap.
85
ORGANISATION
MARKET DATA
RWE
Efficient cost and revenue management is key to determining the profit earned by grid operations
Revenue cap Revenue cap
Permissible costs costs in in 2008 2008 based based on on 2006 2006 Permissible
Cannot be influenced lastingly Can be influenced
Annual percentage revenue adjustment
4
Annual percentage revenue adjustment
3
Cannot be influenced for the time being Deduction resulting from the cost audit Inefficient costs in 2006 determined via benchmarking reduced after second regulatory period
2011 costs
1 2
Electricity baseline years
2006
1st
2011
electricity regulation period 2009 2013 2nd
2016
electricity regulation period 2014 2018
86
ORGANISATION
MARKET DATA
RWE
Regulated grid revenue is determined in four steps
1 2
Cost reviews: elimination of elements unique to the reference year. Determination of the efficiency figure: based on total cost benchmarking (TOTEX) against other grid operators. Annual percent adjustment of costs that can be influenced (inefficient costs): Consumer Price Index minus x factor (CPI-X) and the expansion factor for the integration of renewables, among other things. Annual adjustment of costs that can never be influenced (non-influenceable costs): upstream grid/avoided grid fees, investment measures, incidental staff costs, etc.
Revenue may rise and fall: incentive-based regulation is not a one-way street.
87
ORGANISATION
MARKET DATA
RWE
Power grid expansion act (EnLAG): project status

Status of the EnLAG projects Power grid expansion act > With the introduction of the EnLAG in August 2009, the German government responded to the necessity of expanding the transmission networks. The expansion was made necessary in particular by the increasing transportation distance and the increased use of renewable energy sources (e.g. offshore wind farms) The EnLAG requirement plan includes 24 expansion projects which are to be realised as soon as possible
not yet in authority approval phase regional impact assessment phase plan approval process
As of August 2012. Source: Federal Network Agency.
>
>
approved or under construction completed
behind schedule on schedule
88
ORGANISATION
MARKET DATA
RWE
National electricity network development plan

Lead scenario B 2022 Network development plan 2012 In addition to EnLAG projects: > New build of 3,800 km extra-high voltage lines > of which: 2,100 km high-voltage direct current transmission > Restructuring of 4,000 km extra-high voltage lines
Source: Network development plan Electricity 2012, 2nd draft, Federal Network Agency.
89
ORGANISATION
MARKET DATA
RWE
Number of sensitive network situations and redispatchvolume ( 13.1 EnWG)1 in winter 2011/2012
Grid element Number of hours 2,000 326 308 212 177 102 57 50 MWh Change vs. winter 2010/2011 148% 78% 30,800% 523% 17,700% 10,200% 5,700% -35%
Krajnik Conneforde Lehrte Mehrum Vierraden Wolmirstedt Helmstedt Rhrsdorf
Redwitz Remptemdorf Helmstedt Wolmirsted UW Kriegenbrunn Lehrte Mehrum
2,140,997 24,021 50,051 17,877 18,528 25,935 15,495 2,470
Vieselbach Mecklar Redwitz Kriegenbrunn
Remptendorf Hradec
Vierradem Krajnik UW Conneforde Rhrsdorf Hradec Viselb./Eisen.-Mecklar
Number of hours in which measures according to 13.1 no. 2 EnWG (Energy Industry Act) were taken
200
< 400
1 According to 13.1 of the German Energy Industry Act, network or market-related measures (e.g. redispatch) are employed if uninterrupted supply is threatened. Source: Federal Network Agency.
90
Organisation
Market data
RWE
Market data
92 133 Electricity Gas
91
Organisation
Market data
RWE
Electricity
93 113 115 118 121 Generation Fuels Trading Grid Supply
92
ORGANISATION
MARKET DATA Electricity Generation
RWE
Shares of primary energy sources in total electricity generation in Europe (2010)

Austria Belgium Bulgaria Cyprus Czech Rep. Denmark Estonia Finland France Germany Greece Hungary Ireland Italy Latvia Lithuania Luxembourg Malta Netherlands Poland Portugal Romania Slovakia Slovenia Spain Sweden Turkey United Kingdom
bn kWh
Nuclear Hydro Wind Gas Oil Coal/lignite Other Total net power generation
6 5 5 2 113 144 52 57 25 15 292 145 228 364 12 77 549 583 57 35 27 287 5 79 37 68 93 42
0 0%
20 20%
40 40%
60 60%
80 80%
100 100%
100
200
300
400
500
600
93
Source: Enerdata, 2012.
ORGANISATION
RWE
Capacity trends in 50 years of thermal power generation in Europe - Gas on the rise since 1993
Annual commissionings of thermal power generation capacities in the EU 27 in GW*)
Oil (43 GW) Year of commissioning >
1962
Gas (172 GW) Year of commissioning >

1962
Lignite (51 GW) Year of commissioning >

1962
Hard coal (115 GW) Year of commissioning >

1962
Nuclear (125 GW) Year of commissioning >

1962
1972 1982
1972 1982
1972 1982
1972 1982
1972 1982
1992 2002
GW
1992 2002
GW
1992 2002
GW
1992 2002
GW
1992 2002
GW
2012 0 5 10 15
2012 0 5 10 15
2012 0 5 10 15
2012 0 5 10 15
2012 0 5 10 15
1 Adjusted net generation capacity. Sources: Platts Database, Worldwatch Institute, RWE, 2012.
94
ORGANISATION
RWE
Germanys generation portfolio is overaged: >15 GW already online longer than originally scheduled
Age structure of Germanys fossil-fuelled power plants
GW 12
Originally planned service life
10 8 6 4 2 0 >50 >45 >40 >35 >30 >25 >20 >15 >10 >5 0-5 Age (in years)
gas / oil
hard coal
lignite
95
ORGANISATION
RWE
German energy and power mix (2011)

Primary energy consumption
456 million tons of coal equivalent
Mineral oil Natural gas 34% 20% Lignite Hard coal 13% 25%
Gross power generation

614.5 billion kWh (preliminary)
Nuclear 18%
Hard coal Nuclear 9%
19%
Lignite
12% Natural gas 14% 20%
Renewables Other
11% 2%
Renewables
Other Rounding differences may occur. Source: Energy Balance Working Group, German Energy and Water Association, February 2012.
4%
96
ORGANISATION
RWE
RWE: most diversified generation mix in Europe (I)

Share in power plant capacity of own generation by fuel type 2011 (installed capacity)
100% 80% 60% 40% 20% 0% Centrica CEZ EDF Enel E.ON Fortum GDF Iberdrola RWE SSE
Hydro/ other Gas Hard Coal Lignite Nuclear
Source: Annual reports, company presentations, RWE.
97
ORGANISATION
RWE
RWE: most diversified generation mix in Europe (II)

Share in electricity generation of own generation by fuel type 2011 (generation output)
100% 80% 60% 40% 20% 0% Centrica CEZ EDF Enel E.ON Fortum GDF Iberdrola RWE
Hydro/ other Gas Hard Coal Lignite Nuclear
Source: Annual reports, company presentations, RWE
98
ORGANISATION
RWE
RWE: No. 2 in European power generation

Share in EU 27 power generation (2011)
EdF RWE E.ON 17.1 % 6.6 % 6.0 %
GDF SUEZ Enel Vattenfall Iberdrola CEZ EnBW Others*)
5.9 % 5.8 % 4.9 % 2.8 % 2.2 % 1.9 % 44.3%
3,112 bn kWh1
1 2011 Forecast. Source: 2011 annual reports, RWE.
99
ORGANISATION
RWE
Development of number of wind turbines and installed wind capacity in Germany (1990-2011)
30000 30,000
Installed wind capacity (MW) Number of wind turbines 25,000 25000
29,071 MW
20,000 20000
15,000 15000
10,000 10000
5,000 5000
22,297
0 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
Source: Federal Ministry for the Environment, Nature Conservation and Nuclear Safety, 2011.
2011
100
ORGANISATION
RWE
Regional distribution of installed wind capacity in Germany (2011)

MW 7,038 8,000 8000 7,000 7000 6,000 6000
5000 5,000
4,601
3,642
3,000 3000 1,663

2000 2,000 1000 1,000 0 SchleswigHolstein North RhineWestphalia Thuringia Hesse RhinelandPalatinate Brandenburg Saxony Saxony-Anhalt Baden Wrttemberg Bremen Bavaria Lower Saxony MecklenburgWest Pomerania Saarland
3,067
4,000 4000
3,276
1,627
976
801
684
684
486
141
127
53
Hamburg
Berlin
101
ORGANISATION
RWE
Development of installed PV capacity and electricity generation in Germany (1990-2011)

30000 30,000
Installed PV capacity (MWp) Electricity generation (GWh) 25,039 MWp
25000 25,000
20,000 20000
15,000 15000
10,000 10000
5,000 5000 19,340
0 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
2011
102
ORGANISATION
RWE
Attractiveness of coal and gas differs in Germany and the UK

German power price
Min. Hourly Demand New lignite New hard coal New CCGT New CCGT Merit order swaps in winter due to higher gas prices Peaking2 Max.
UK power price
Min. Hourly demand Max.
Power price
OCGT + CCGT
Hard coal Must run1 Nuclear Lignite
Peaking2
Interconnector & Must run1 Nuclear
Power price
CCGT
Hard coal
10
20
30
40
50
60
70
80
90
100
10
20
30
40
50
60
70
80
90
100
Proportion of installed capacity (in %)
Proportion of installed capacity (in %)
> Large proportion of low marginal cost plant from nuclear, lignite, CHP and wind > Load factor for new coal plant somewhat higher in Germany than in the UK
1 Including renewables and CHP. 2 Oil, OCGT, hydro, etc.
> Higher share of high marginal cost plant > New gas plant in UK has significantly higher load factor than in Germany > New coal not economic as must be CCS-ready
103
ORGANISATION
RWE
CO2 reduction potential of coal-fired power plants1 by increased efficiency

CO2 emissions per kWh
World average 30% 1,116 g CO2/kWh 480 g coal/kWh EU average 38% 881 g CO2/kWh 379 g coal/kWh % Efficiency1 g CO2/kWh CO2 emission
CO2 reduction
g coal/kWh Use of fuel - 21% State of the art technology - 33% 45% 743 g CO2/kWh 320 g coal/kWh Steam power plant 700C technology About 50% 669 g CO2/kWh 288 g coal/kWh CCS technology2 But: Efficiency losses of 7 - 12% points - 40%
- 90%
2010
1 Average data for hard coal-fired power plants. 2 CCS: Carbon Capture and Storage. Source: VGB Tech, Electricity Generation Facts and Figures 2011/12.
2020
time
104
ORGANISATION
RWE
Overview of German nuclear power plants

Power plant Net capacity MW 1,167 785 1,227 771 878 1,345 890 1,346 Commercial commissioning 1975 1976 1977 1977 1979 1979 1980 1984 Closure
German nuclear power plants

Brunsbttel Brokdorf Krmmel Unterweser Grohnde
Biblis A Neckarwestheim I Biblis B Brunsbttel Isar 1 Unterweser Philippsburg 1
March/August 2011 8,409 MW
Emsland
Krmmel
Grafenrheinfeld Gundremmingen B
1,275 1,284 1,392 1,360 1,288 1,410 1,400 1,329 1,310
1982 1984 1985 1985 1985 1986 1988 1988 1989
31 Dec 2015 31 Dec 2017 31 Dec 2019 31 Dec 2021 4,058 MW 31 Dec 2022 4,039 MW
Biblis Grafenrheinfeld Philippsburg Isar Neckarwestheim Gundremmingen
Philippsburg 2 Grohnde Gundremmingen C Brokdorf Isar 2 Emsland Neckarwestheim II
20,457 RWE power plants
105
ORGANISATION
RWE
The merit order and aspects influencing its structure provide a better tool for looking at the dynamics of power plant portfolios
Illustrative The German merit order the marginal power plant principle
Min. Max.
> The operation of power plants follows the sequence of short-run marginal costs: the merit order > Due to low price elasticity of demand, prices in electricity markets are driven by the merit order structure > Margins depend primarily on the cost efficiency of the available supply, not on adequacy (marginal plant mechanism)
Variable costs in /MWh
Market price
Capacity in demand (marginal plant)
Nuclear
Lignite
Hard coal
Gas
Oil
Supplied capacity in MW
106
ORGANISATION
RWE
Wind generation works more or less like negative demand

Change in German merit order due to wind generation Illustrative > Being treated as negative demand, mustrun capacity (e.g. power generation from wind) changes the demand which has to be covered by conventional power plants > This means, although must-run changes the resulting market price indirectly, it does not change the structure of the merit order > In times of high must-run feed-in and low domestic demand the overall effect is partially compensated by exports
Demand - wind
Demand
Offer price Variable costs in /MWh
Market price
Nuclear
Lignite
Hard coal
Gas
Oil
Supplied capacity in MW
Demand - wind + exports
107
ORGANISATION
RWE
The CO2 cap-and-trade system has reduced the gap in the merit order between upper base-load and lower peak-load electricity
Change in German merit order due to CO2 Illustrative
Offer price
> Marginal costs for old lignite-fired power stations increased more than marginal costs for efficient hard coal plants > Marginal costs for old hard coal-fired power stations rose more compared to those of efficient gas-fired power stations > As this is a dynamic system with changing fuel price relations (e.g. gas vs. hard coal), it is difficult nevertheless to predict at which CO2 price levels a switch between the fuel types in the merit order would happen
Variable costs in /MWh
Nuclear
Lignite
Hard coal
Gas
Oil
Supplied capacity in MW With CO2 Without CO2
108
ORGANISATION
RWE
Balancing power: how does it work?

f
Starting point e.g. power station breakdown
Frequency
5s
30 s
15 min
1h
Primary
Secondary
...
Minute reserve 5s 30 s 15 min TSO1 Primary > Automatic control at the generator/turbine > E.g. thermal power plants 1 TSO: Transmission system operator. 2 BRP: Balance-responsible party.
Hour reserve
1h BRP2 Secondary reserve > Automatic control by the TSO, load frequency control > E.g. pumped storage Minute reserve > Manual activation by TSO > Manual, e.g. thermal power plants
109
ORGANISATION
RWE
Development of electricity load values in Germany in 2008 2012

Peak load values (3rd Wednesday)
GW
5000 85
80 0000 75 70
0000
5000
65
5000
60
0000 Feb Aug May Sep Mar Nov Jan Jun Apr Jul Dec
110
2012
2011
2010
2009
2008
Source: ENTSO-E.
Oct
ORGANISATION
RWE
German electricity system at its limit

Capacity situation on 8 February 2012
Sufficient electricity supply was only guaranteed on the basis of hardly any outages in the thermal generation fleet
GW 12
150 100 50 0
8 4 0
Solar Wind Hydro Thermal capacity Installed capacity Capacity not available Required balancing power1 German domestic consumption Net export balance Remaining spare capacity (<2 GW)
No relief through electricity imports during peak hours due to likewise high electricity demand in neighbouring countries: demand for electricity exports were higher than available imports
GW 6 5 Export (from Germany) Import (into Germany)
4 3 2 1 0
France
Austria
Swiss
Netherlands
Denmark
Poland
CZ
Net export (~2 GW)
1 German TSOs have contracted approx. 5 GW of balancing power to cover short-term grid imbalances. Source: ENTSO-E, EEX, German Energy and Water Association; German electricity import/export on 8 February 2012, 6:00 7:00 p.m.
111
ORGANISATION
RWE
Scenarios for German capacity reserve margins

Reliable available spare capacity for peak demand
GW
10 8 6 4 2 0 -2 -4 -6 -8 -10
System required spare capacity (ENTSO-E) Scenario 1 Scenario 2 Scenario 3
Scenarios
Starting point: ENTSO-Es Scenario B (January 19:00 pm)1 Development of capacity reserve margin considering... Scenario 1: ... only announced new build and most likely shut down of power plants
2012
2013
2014
2015
2016
2017
2018
2019
2020
Scenario 2: ... additionally to scenario 1: plus shut down of plants >50 years of lifetime Scenario 3: ... additionally to scenario 2: plus shut down of plants which are uneconomically according to RWE market model
1 Peak demand increased by 9 GW while reliable available capacity only by ~3 GW compared to System Adequacy Report 2011. Source: ENTSO-E (2012), RWE estimates (May 2012)
112
ORGANISATION
MARKET DATA Electricity Fuels
RWE
Main sea freight trading routes for hard coal in 2011 (I)
Seaborne hard coal trade in 2011: 978 million mt
32 101 91 To the Far East USA 80 CHINA 270 COLOMBIA/ VENEZUELA 67 API#4 SOUTH AFRICA API#3 AUSTRALIA INDONESIA
281
CANADA
API#2 RUSSIA 14 Canada/USA
API = All Publications Index. Source: German Coal Importers Association, Annual Report 2012, published in July 2012.
113
ORGANISATION
MARKET DATA Electricity Fuels
RWE
Main sea freight trading routes for hard coal (II)

Major products traded on worldwide coal markets The TFS API#2 is a monthly basket index for the ARA (harbours of Amsterdam, Rotterdam, Antwerp) coal price with a basis of 6,000 Kcal/kg, CIF, ARA, NAR (net as received) calculated on the last business day of the month. Calculation: (MCIS NWE steam coal marker price + international index) divided by 2 The TFS API#3 is a weekly (every Friday) basket index price with a basis of 6,700 Kcal/kg, GAD (gross air dried) FOB Newcastle (Australia) and published on a weekly and a monthly average basis. Calculation: (FOB Newcastle price + Barlow Jonker Index (BJI)) divided by 2 The TFS API#4 is a weekly (every Friday) basket index price with a basis of 6,000 Kcal/kg, NAR FOB Richards Bay (South Africa) and published on a weekly and a monthly average basis. Calculation: (FOB Richards Bay price ascertained by McCloskey + SACR Spot Coal Price Index + FOB Richards Bay price ascertained by Argus Media) divided by 3
API#2
API#3
API#4
API = All Publications Index. CIF = Cost, Insurance, Freight. CIS = Commonwealth of Independent States. FOB = Free On Board. The TFS API was a registered trade mark of the Tradition Financial Services Company (TFS). The TFS ascertains different API prices by a price survey from Argus Media and McCloskey. API Index was renamed from July 2005 on to AM API#... (A for Argus Media and M for McCloskey). Source: German Coal Importers Association, Annual Report 2012, published in July 2012.
114
ORGANISATION
MARKET DATA Electricity Trading
RWE
Major European electricity exchanges
FINLAND
Nord Pool Oslo
NORWAY
SWEDEN
European Energy Exchange (EEX), Leipzig APX Power NL, Amsterdam

UK
DENMARK NETHERLANDS
APX Power UK, London EPEX SPOT, Paris
GERMANY BELGIUM
FRANCE
AUSTRIA
Belpex, Brussels Omel, Madrid

SPAIN
Energy Exchange Austria (EXAA), Vienna
115
ORGANISATION
RWE
Turkey as a future energy hub

Physical power demand of neighbouring countries 340.7 billion kWh Natural gas demand of neighbouring countries 157.1 billion cubic meters (bcm)
Gas demand [bcm] Russia: Azerbaijan: Armenia: Georgia: Ukraine: Romania: Bulgaria: Greece: Turkey: Syria: Iraq: Turkmenistan: Qatar: 389.6 7.8 2.1 1.7 47.0 11.7 2.3 3.4 43.0 7.1 1.3 19.9 20.0 Power demand [billion kWh] 686.2 12.4 4.5 5.9 121.6 50.6 32.6 53.5 229.3 27.2 33.2 9.3 20.9
All data represents year 2009; Electricity consumption for Romania, Serbia, Bulgaria and Greece derived from ENTSO-E; Other electricity consumption figures are derived from IEA and CIA; Natural gas consumption figures are derived from IEA and IHS.
116
ORGANISATION
RWE
Power trading volumes in continental Europe 2001 2011

Billion kWh1
10,000 10,000 9,000 9,000 8,000 8,000 7,000 7,000 6,000 6,000 5,000 5,000 4,000 4,000 3,000 3,000 2,000 2,000 1,000 1,000
2001 2001
Germany
2002 2002
2003 2003
France France OTC
2004 2004
2005 2005
2006 2006
2007 2007
Spain
2008 2008
2009 2009
2010 2010
2011 2011
Netherlands Netherlands OTC
Scandinavia
Germany OTC
1 Measurable power trading volumes at exchanges and brokering platforms (OTC).

117
ORGANISATION
MARKET DATA Electricity Grid
RWE
The European ENTSO-E1 power transmission grid

FI Continental European synchronous area Baltic synchronous area Nordic synchronous area British synchronous area Irish synchronous area Isolated systems of Cyprus and Iceland
1 synchronous 2
IS
NO
SE
EE LV
RU2
IE GB NL BE L
DK DK RU2
LT BY2 PL
with the continental European system
DE CZ SK UA-W2
synchronous with the Baltic system from September 2010 in trial synchronous operation with the continental European system
3
UA2
FR
CH
AT HU SI RO HR BA RS BG MK AL1 GR
MD2
PT ES
IT
TR3
MA1
DZ1
TN1
CY
1 ENTSO-E = European Network of Transmission System Operators for Electricity.

118
ORGANISATION
RWE
Germany's transmission system operators (2011)

Amprion System size [km] (380 kV) System size [km] (220 kV)
50 Hertz
TenneT 5,800 4,900 140,000
50 Hertz TransnetBW 6,830 2,862 109,360 1,993 1,655 34,600
5,300 5,700 73,100
Area covered [km]
Amprion
TenneT
TransnetBW
119
ORGANISATION
RWE
Germany: import and export of electricity in 2011

bn kWh
DENMARK
2.95
SWEDEN
2.09
2.05
1.68 0.63
NETHERLANDS
1.24
POLAND
2.55
8.06
0.11
2.59
GERMANY 0.15 Export 38.63 Import 38.35
5.20
FRANCE
9.51 17.02
CZECH REPUBLIC
7.59
Export from Germany Import into Germany 1 2010 Figure. Source: www.netzentwicklungsplan.de, Amprion.
4.54
AUSTRIA
7.99 1
SWITZERLAND
120
ORGANISATION
MARKET DATA Electricity Supply
RWE
The largest electricity companies in Europe 20111

Consolidated electricity sales volume
billion kWh
E.ON (GER) EdF (FRA) GDF SUEZ (FRA) RWE (GER) Iberdrola (ESP) Vattenfall (SWE) EnBW (GER) ENEL (ITA) 0
104 157 156 210 320 294 508
1,145
100
200
300
400
500
600
700
800
900
1000
1100
1200
1 Last completed fiscal year. Sales are excluding proprietary trading. Source: RWE analysis, August 2012.
121
ORGANISATION
RWE
Development of energy consumption in Germany

Development by segment: Electricity
bn kWh
600
Development by segment: Gas

bn kWh
1200 1,200
532
500 400 120 300 16 200 254 100 0 8 2006 142
534
140
540 538
140 139
518
142
518
140
1000 1,000 800
962
980
973
939
958 837
459
121 16
121 17
438
453
120 16 227 9 2009
124 17 227 9 2010
124 17 229 9 2011
447
484
600 400 410 200 0 104 2006 115 2007 126 2008 118 2009 126 2010 386 360 330 348
365
255
252
352
9 2007
9 2008
120 2011
Residential customers Services1
Transport Industry Agriculture
Residential and commercial customers2 Industry Power plants 2 Also includes transport and district heating.
1 Also includes public consumption. Source: German Energy and Water Association, 2012.
122
ORGANISATION
RWE
Electricity prices in Europe (for industrial customers)

Average electricity prices for industrial customers1 in the second half of 2011 in selected European countries
ct/kWh
Malta Ireland Slovakia Italy Latvia Spain Czech Republic Lithuania Belgium United Luxembourg EU 27 Hungary Germ any Portugal Poland Slovenia Croatia Netherlands Sweden Denmark Romania Turkey Finland France Bulgaria Austria 12.60 12.18 11.95 18.00
7.30 6.80 6.67 6.57 6.44
11.01 11.00 10.71 10.34 10.14 9.98 9.57 9.35 9.34 8.99 8.95 8.95 8.89 8.86 8.29 8.23 8.10 8.03 2
10
12
14
16
18
20
1 Basis: industrial customers with a consumption of 500 2,000 MWh; prices excluding value-added tax and all other recoverable taxes and levies. 2 Provisional data. Source: Eurostat, July 2012.
123
ORGANISATION
RWE
Pan-European comparison of the household electricity prices

Electricity prices excluding all taxes and levies; second half of 2011
ct/kWh
Ireland Spain United Kingdom Austria Luxembourg Italy Germany Norway Netherlands Sweden Denmark EU 27 Czech Republic Hungary Finland Portugal Poland France Turkey Romania Bulgaria 0 2 4 6
EU 27
17.55 16.84 15.09 14.44 14.36 14.12 13.95 13.51 13.43 13.40 13.15 13.10 12.08 11.92 11.08 10.68 10.52 10.17 9.19 8.23 7.27
10
12
14
16
18
20
Source: Eurostat, July 2012; rounding differences may occur.

124
ORGANISATION
RWE
German households rank second in terms of state-caused charges on the electricity bills
%
Denmark Germany Portugal Sweden France Austria The Netherlands Finland Greece Spain Bulgaria Luxembourg Ireland UK 4.7 13.5 11.9 18 16.7 19.9 28.2 27.4 25.4 24.7 34.2 38.6 44.4 56.6
10
20
30
40
50
60
Source: Eurostat, 1st half of 2011 (average); prices incl. taxes, levies and fees, annual consumption of 2,500 5,000 kWh, German Energy and Water Association, November 2011.
125
ORGANISATION
RWE
German industrial customers face highest state-caused charges on the electricity bills
%
Germany The Netherlands France Denmark Finland Portugal Greece Spain UK Luxembourg Bulgaria Sweden Ireland 0.7 0.4 1.5 4.8 4.4 4.3 6.7 9.3 8.9 11.8 15.0 18.0 27.9
10
15
20
25
30
Source: Eurostat, 1st half of 2011 (average); prices incl. taxes, levies and fees, annual consumption of 500 MWh 2,000 MWh, German Energy and Water Association, November 2011.
126
ORGANISATION
RWE
Competition has been a reality since 1999: freedom of choice for German residential electricity customers; increasing churn rates
Churn rate of electricity customers (accumulated)
Million customers 12
10 8.3 8 6 4.3 4 2 3.1
18.9% 8% 11% 20.7% 21.7%
11.00 9.8 8.8 10.3
11.20
7.4
27.7% 25.8% 24.6%
28.2%
Nov 2006
Nov 2007
Dec 2008
Oct 2009
Oct 2010
Apr 2011
Oct 2011
Mar 2012
Jun 12
Source: German Energy and Water Association, June 2012.

127
ORGANISATION
RWE
German state-caused charges in electricity prices

State-caused charges for all electricity customers
billion (excluding value-added tax)
25 20 15 10
+ 578% 23.1
0.15
23.7
0.13
17.1 11.9
0.77 2.30 2.22
6.9 4.1
0.26 2.00 1.82 0.61 0.90 2.05 3.36
8.5
0.99 1.15 2.04 4.32
9.5
0.67 1.63 2.08 5.10
11.4
0.76 1.91 2.15 6.53
12.3
0.85 2.92 2.07 6.46
12.9
0.79 3.73 2.09 6.27
13.5
0.70 4.30 2.14 6.35
13.8
0.52 4.88 2.17 6.26
14.3
0.63 5.27 2.16 6.28
0.45 8.33
13.53
14.11
0.44 2.11 6.17 2.15 2.15
5 0
6.60
7.15
6.82
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011 1
2012
Concession fees (estimated) Electricity tax2
German Combined Heat and Power Act German Renewable Energy Act2
Levy acc. to 19 Electricity Network Charges Ordinance (StromNEV)
1 Estimated figures. 2 Various sources. Source: German Energy and Water Association, April 2012.
128
ORGANISATION
RWE
Industrial customers pay higher governmental charges

Development of average industrial1 electricity prices (including electricity tax)
1998 = 100%
142 123 100
2
150 122
24
149
122
21
129
38 29 39
95
4
90 65
10
96
21
104
21
20
19
69
13
74
13
23
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
Taxes, levies & fees Renewable Energy Act, Combined Heat and Power Act, electricity tax Net electricity prices Generation, transmission and sales 1 Medium voltage, purchase of 500 kW/3,150h. Source: German Energy and Water Association, April 2011.
129
ORGANISATION
RWE
Government inflates German electricity bills

Average monthly electricity bill of a three-person household (3,500 kWh/a)
/month
63.15 67.70 69.10 73.59 Change (1998 = 100%) 75.08 + 50%
49.95
12.35
48.20 40.66
14.40 15.51 16.68
46.99 41.76
18.67
50.14
20.30
56.76 52.38 54.43

20.82 21.70 22.49
60.20
24.65
25.20
26.53
28.57
33.19
34.10
+ 176%
37.60
33.80
25.15
25.08
28.32
29.84
31.56
32.73
34.27
35.55
37.95
41.17
40.53
39.59
40.98
+ 9%
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
n Taxes, levies & fees

Renewable Energy Act, Combined Heat and Power Act, concession fees, electricity tax and value-added tax
n Net electricity prices

Generation, transmission, distribution, metering, sales and marketing
Gains resulting from deregulation are being eroded by additional burdens imposed by policymakers
Source: German Energy and Water Association, April 2012.
130
ORGANISATION
RWE
Government charges account for 45% of German household electricity bills1

25.74 ct/kWh break down as follows (as of April 2012):
State: 11.69 ct/kWh Value-added tax2 Renewable Energy Act 4.11 16.0% Generation, transmission and supply: 14.05 ct/kWh
3.59
13.9%
45.4%
Electricity tax Concession fee Combined Heat and Power Act 1 3,500 kWh/a. 2 VAT at 19%. Source: German Energy and Water Association, April 2012. Rounding differences may occur. 2.05 1.79 0.15 8.0% 6.9% 0.6%
131
ORGANISATION
RWE
Blackouts in Europe in minutes (2010)

Minutes
200
173.0 193.0
150
100
62.9
50
31.8 14.9 17.0
47.8 33.7
0
Germany Denmark Austria Netherlands Italy France Portugal Finland
Source: German Energy and Water Association, July 2012.
132
Organisation
Market data
RWE
Gas
134 136 138 140 141 145 146 Trading LNG Storage Downstream Supply Turkish market Czech market
133
ORGANISATION
MARKET DATA Gas Trading
RWE
Gas markets develop and are becoming global flexibility becomes key success factor
Gas trade flows 2011 billion m3
> Gas supply and pricing structures change > International LNG further growing: Linking European, American and Asian gas markets > Liquidity of European gas markets rising with gas prices increasingly volatile > Shift of key success factor: From volume creates value to flexibility creates value
Source: BP (2012).
134
ORGANISATION
MARKET DATA Gas Trading
RWE
European gas trading hubs

V es ed terl
Lan g ele
Europipe 1+2
ipe
Franp
Zeepip e
UNITED KINGDOM (NBP)

Bacton Dunkirk
DEUD AN
Ellund
BB
Balgzand Oude
Emden
Greifswald
NET RA
Zeebrugge (TTF) IUK Zelzate

SGravenvoeren RT R
NETHERLANDS BELGIUM
GERMANY NCG/GPL
Blaregnies
Bocholtz Aachen WEDAL St. Katherina

AL ME G
NP TE
LUXEMBOURG
FRANCE (PEG)
Obergailbach
Waidhaus Oberkappel Wallbach

G TA
CZECH REPUBLIC
WAG
No rd
Mallnow
SWITZERLAND
Tarvisio
AUSTRIA
Griesspass
St re am
ip Norp e
DENMARK
Baumgarten (CEGH)
Gas trading point Transport route

135
ORGANISATION
MARKET DATA Gas LNG
RWE
LNG is becoming an increasingly important component of global gas supply

Global natural gas demand and LNG's share
billion m3
5000 5,000 4000 4,000 3000 3,000 2000 2,000 1000 1,000
7% 10%
Asia Pacific Africa Middle East Europe and Eurasia South and Central America North America LNG
12%
0 2005
Source: PIRA, IEA.
2010
2020
136
ORGANISATION
MARKET DATA Gas LNG
RWE
How the liquefied natural gas (LNG) value chain works

Gas field Pipeline Liquefaction Liquefaction plant
Gas: 600 m3 at 15 C
LNG: 1 m3 at -162 C
Storage Shipping Storage

LNG: 1 m3 at -162 C
Vessel transport volume (standard range): 135 155 thousand m3 LNG 81 93 million m3 regasified volume 495 565 thousand boe 0.9 1.0 bn kWh
Gas: 600 m3 at 15 C
Regasification Pipeline
Regasification terminal
Transport system
Power generation
137
ORGANISATION
MARKET DATA Gas Storage
RWE
Gas storage facilities in Europe Germany is leading

Number of natural gas storage facilities
Germ any Italy France Austria UK Hungary Czech Rep. Romania Slovakia NL Latvia
Their maximum working gas capacity million m3

46
Germ any Italy
Their maximum withdrawal capacity million m3/day

Germany Italy France Austria UK Hungary Czech Rep. Romania Slovakia NL Latvia
21,297
14,747 11,900 4,744 4,350 6,330 3,127 2,760 2,785 5,000 2,325 0 5000 10,000 10000 15,000 15000 20,000 20000 5,000
515
153 200 55 86 72 52 28 39 145 24 0 100 200 300 400 500
10 15 5 6 5 8 8 1 3 1 0 10 20 30 40 50
France Austria UK Hungary Czech Rep. Romania Slovakia NL Latvia
EU 27: 124
EU 27: 85,990 million m3
EU 27: 1,453 million m3 per day
Source: Eurogas Statistical Report, January 2011.
138
ORGANISATION
MARKET DATA Gas Storage
RWE
Gas storage facilities in Germany

Locations of German subterranean gas storage facilities
Rostock Hamburg Bremen Hanover Berlin
POLAND
> Germanys underground gas storage facilities at 40 locations have a capacity of roughly 21 billion m3 of process gas. This represents roughly a quarter of the amount of gas used in Germany in 2011. Germanys gas industry thus has the largest storage capacity within the European Union. > A further 23 underground gas storage facilities with a working gas capacity of more than 11 billion m3 are either under construction or in the planning stage. This will cause the share of German annual gas consumption covered by available gas storage capacity to rise to about 40%.
NETHERLANDS
Dortmund
GERMANY
Cologne Erfurt Frankfurt
Leipzig Dresden
BELGIUM LUXEMBOURG
Saarbrcken
CZECH REPUBLIC
Nuremberg
Stuttgart
FRANCE
Freiburg Munich
AUSTRIA
Source: German Energy and Water Association (BDEW), March 2012.

139
ORGANISATION
MARKET DATA Gas Downstream
RWE
The largest gas companies in Europe 20111

Consolidated gas sales volume billion kWh
E.ON (GER) ENI (ITA) Gasterra (NED) GDF SUEZ (FRA) Wintershall (GER) Gas Natural (ESP) RWE (GER) 0 200
322 396 462 572 954 1,064
1,342
400
600
800
1000
1200
1400
1 Last completed fiscal year. Sales are excluding proprietary trading. Source: RWE analysis, August 2012.
140
ORGANISATION
MARKET DATA Gas Supply
RWE
German residential gas prices compared with other European countries

All-gas household: annual consumption: 5,560 55,560 kWh1
ct/kWh (incl. taxes)
14 13 12 11 10 9 8 7 6 5 4 3 2 1 0 DEN SWE AUT NED CZE ESP POL GER ITA BEL FRA UK
7.08 7.29 5.70 6.14 5.38 4.82 7.85 6.83 6.13 7.08 4.74 11.23 11.76
Average gas price 1 Cooking, hot water and heating. Source: Eurostat 2012; average prices for 2011; based on purchasing power standards.
141
ORGANISATION
RWE
German residential gas prices from 2000 to 2011 compared with other European countries
All-gas household: annual consumption: 23,500 kWh1
ct/kWh (incl. taxes)
10 9 8 7 6 5
Belgium
4 3 2 1 0 2000
Austria Germany Italy Spain France Netherlands United Kingdom
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
1 Cooking, hot water and heating; 5,560 55,560 kWh after second half of 2007. Source: Eurostat, 2011.
142
ORGANISATION
RWE
Government charges included in the German gas price

Import/production, transportation, storage and distribution
70%
Value-added tax
16%
Gas tax Prorated production levy Concession fee
8% 2% 4%
30% of the gas price1 payable by an all-gas household is allocable to taxes and levies
1 Example based on the average price per kWh for an all-gas household (as of 1.4.2011) with a basic supply contract. Source: Federal Network Agency (2012).
143
ORGANISATION
RWE
Natural gas supplies in Germany (2011)

Russia Norway 329 bn kWh 297 bn kWh 31% 28%
Netherlands
223 bn kWh
21%
Total: 1,062 bn kWh1
National Denmark, UK, Others
118 bn kWh 96 bn kWh
11% 9%
1 Preliminary figure, National includes bio gas. Source: German Energy and Water Association (BDEW), February 2012.
144
ORGANISATION
MARKET DATA Gas Turkish market
RWE
Turkey as a gateway to the worlds natural gas reserves
Proven natural gas reserves million bcm Top ten countries Russia Iran Qatar Saudi Arabia USA Turkmenistan UAE Nigeria Venezuela Algeria
8 8 8 7 5 5 5
Azerbaijan 0.85 Iraq 3.2 Iran 29.6 Kuwait 1.8 Turkmenistan 7.5 Russia 44.8
45 30 25
QATAR 25.4
Caspian and Gulf total 70% of the world natural gas reserves
Bubble size is indicative of the size of reserves
Saudi Arabia 7.8
United Arab Emirates 6.5
145
ORGANISATION
MARKET DATA Gas Czech market
RWE
Relevant institutions and their role in the Czech gas market (I)
According to the Energy Law, the following three institutions are responsible for the execution of state control in the energy market: (1) Energy Regulatory Office (ERO) (2) State Energy Inspection Authority (3) Ministry of Industry and Trade There are also additional institutions that have a significant impact on the domestic energy market and its participants, including: (4) Market Operator (5) Office for the Protection of Competition (UOHS) ERO is an autonomous authority, which is responsible for the regulation of the Czech energy market. Among others, ERO > supports market competition, development of secondary and renewable energy sources, and the protection of energy consumers > grants and cancels licenses for activities related to the energy business > makes regulatory decisions regarding prices > resolves disputes between license holders or between customers and license holders > drafts and approves rules pertaining to the domestic energy market model
(1)
(2)
State Energy Inspection Authority is authorised to assess buyer and seller behaviour and recommend sanctions to ERO.
146
ORGANISATION
RWE
Relevant institutions and their role in the Czech gas market (II)
(3)
Among others, the Ministry of Industry and Trade: > Issues state consent for the construction of selected gas infrastructure projects > Prepares the State Energy Concept, a document establishing the countrys long-term energy goals > Informs the European Commission of the countrys developments within the energy sector Market Operator provides comprehensive services to the energy sector, including: > Organisation of short-term gas and electricity markets in cooperation with the TSOs > Administration of the registry of greenhouse gas emissions trading > Financial settlement of imbalances in the gas and electricity systems > Provision of technical support for customer switching
(4)
(5)
UOHS is the central state administration authority responsible for establishing conditions that promote and safeguard competition, supervising public procurement as well as acting as advisor and supervisor for the provision of state aid.
147
ORGANISATION
RWE
Status of Czech gas market liberalisation and regulation

> The opening of the Czech market began in 2005. > Since January 1, 2006, all end customers have been eligible, with the exception of residential customers. > On January 1, 2007, all customers including residential customers became eligible. Full market liberalisation and complete market opening was achieved and competitors started to enter the market. The transmission system operator Net4Gas was set up as an entity that is legally independent from RWE Transgas, a.s. which holds the gas trading license. The ownership however was retained by RWE. On January 1, 2007, regional gas companies (RGCs) were separated from the regional gas distribution system operators (DSOs). At the same time, a new market model was introduced. It consists of a virtual trading point, an entry-exit system and the possibility of gas sales beyond the distribution system operators (DSOs) balancing zones. In order to control the constitution of the market, legal restrictions are set as a framework in which, for example, the principal of non-discriminatory supply conditions for non-consolidated regional gas companies (RGCs), including other market participants, is monitored. RWE in CZ is subject to the following restrictions due to its dominant position in the Czech gas market: > The commodity price (i.e. gas price): This price is being monitored by ERO. RWE Transgas has to offer non-discriminatory prices to the same customer segment. > Transportation and distribution prices are regulated and have to be approved by ERO. The calculation is made on a cost plus basis and the costs have to be justified in detail. > Storage prices are not regulated, but are set in multi-round online auctions organised by SSOs.
148
ORGANISATION
RWE
Czech gas market: gas-price setting mechanism

The value chain Price composition Gross trade margin Supervised by ERO Commodity Storage NTPA2, prices are set in auctions Distribution Transmission
Nonregulated1
Regulated
Regulated
Portion of final price
4 8%
70 80%
4 8%
15 20%
3 5%
Entity
RWE Transgas regional gas companies
Foreign producers (Russia, Norway)
RWE Gas storage
Distribution system operators
Net4Gas
> External factors influence approx. 70 80% of the final price of natural gas
1 Prices are linked to other fuels (oil, fuel) or based on spot market. 2 Negotiated third-party access.
149
ORGANISATION
RWE
Czech gas market: basics of the regulatory framework

Escalation of costs, depreciation and regulated asset base
Costs
Inflation - X escalation (inflation is composed of the Consumer Price Index (CPI) with 1% premium and index of selected B2B services). Incentives stem from outperformance potential over the X-factor set by ERO.
Depreciation
Planned book values with ex-post correction to actual values.
Regulated asset base
The ERO defines the value, which forms the initial basis. Annual planned net investments are added to the basis. Ex-post corrections reflect actual net investments (DSO).
Unbundling
There are some residual allowed costs from previous regulatory periods related to the unbundling of system operators from vertically integrated companies (applied only in 2010).
Revaluation
For regulatory purposes, ERO currently acknowledges the restated depreciation of revalued assets (according to Czech accounting standards). However, the revaluation effected regulatory asset base only to a minor extent.
150
Organisation
Market data
RWE
RWE
152 Electricity 197 Gas 219 Investor Relations
151
Organisation
Market data
RWE
Electricity
153 184 187 189 190 Generation Fuels Trading Grid Supply
152
ORGANISATION
MARKET DATA
RWE Electricity Generation
RWE share of the European power generation market by region (2011)

Share of in-house generation (excluding electricity purchased from third parties)
%
40
30
27
20
10
8 2
0 Germany
Netherlands/ Netherlands/Belgium Belgium
UK
Central Eastern and 2 South Eastern Europe
1 Including contracted generation. 2 Countries included: CZ, HU, PL, SK. Source: Eurostat, ENTSO-E, RWE.
153
ORGANISATION
MARKET DATA
RWE's share of the German power generation market relative to peers (2011)
Total net electricity production (including self generators)
RWE E.ON 154.4 billion kWh 89.6 billion kWh 29% 17%
Vattenfall Europe
62.3 billion kWh
12%
EnBW Others (incl. Industry)
59.5 billion kWh 164.4 billion kWh
11% 31%
Total: 530.2 billion kWh
Source: German Energy and Water Association (BDEW), RWE.
154
ORGANISATION
MARKET DATA
RWE Group electricity production by primary fuel and electricity purchases (2011)
Billion kWh
120
Total: 312.8 billion kWh1

100 80 60 40 20
107.1
74.1
68.6
34.3
38.5
8.8 20.8 2.2

Nuclear Nuclear Gas Gas Renewable Renewable energies energies Pumped Pumped storage, storage,oil, oil, other other Electricity Electricity purchases purchases
0 Lignite Lignite Hard Hard coal coal
RWE power plants Electricity procured from power plants that are not owned by RWE that we can deploy at our discretion on the basis of long-term agreements 1 The difference between 312.8 billion kWh of power generation output and 294.6 billion kWh of electricity sales is due to grid losses and own use.
155
ORGANISATION
MARKET DATA
RWE Group electricity production by geographic region (2011)

Billion kWh Germany Lignite Nuclear Hard coal thereof contracts Gas Renewable energies thereof contracts Pumped storage, oil, other thereof contracts Subtotal Electricity purchases1 Total 68.3 34.3 33.6 20.8 12.0 4.0 0.5 2.2 1.7 154.4 55.4 209.8 UK 8.6 21.3 1.6 0.9 31.5 22.3 53.8 NL/BE 5.1 5.1 1.8 12.0 10.2 22.2 Other 5.8 0.5 0.1 1.4 7.8 19.2 27.0 Total 74.1 34.3 47.8 20.8 38.5 8.8 1.4 2.2 1.7 205.7 107.1 312.8
1 Net, excluding trading. Purchases for physical deliveries to customers only.
156
ORGANISATION
MARKET DATA
The role of electricity purchase agreements in RWEs German generation business

Generation capacity of RWEs Germany Division as of 31 December 2011
RWE-owned STEAG E.ON Others 72% 13% STEAG 6% E.ON 9% 5% 2% 8%
Electricity generation of RWEs Germany Division in 2011

RWE-owned 85%
Total: 31.3 GW
Others
> Long-term contracts relating to fossil-fired and hydro power plants > RWE has full entrepreneurial control over power plants > RWE can use most outside purchases until the end of the power plant's useful life > Pricing is largely dependent on generation costs (fuel, CO2)
157
ORGANISATION
MARKET DATA
RWEs Germany Divisions power plant portfolio1 (I)

Power plant Country (Germany unless stated) Operating company Commissioned Net capacity MW Lignite Frimmersdorf Neurath Niederaussem Niederaussem (BoA1) Goldenberg Weisweiler Berrenrath Fortuna Nord Wachtberg Total lignite Nuclear KKW Emsland Gundremmingen B Gundremmingen C Total nuclear Hard coal Gersteinwerk Werne Kv2 GW Bergkamen A Ibbenbren Westfalen A-C VSE Unit 1 VSE Unit 3 Bedzin Total hard coal RWE Power RWE Power RWE Power RWE Power RWE Power RWE Power RWE Power RWE Power RWE Power 1959-1970 1972-1976 1963-1974 2002 1992, 1993 1955-1975 1939, 1993 1959 1,625 2,065 2,736 944 151 2,054 52 54 118 9,799 RWE's legal consolidation stake % 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 MW 1,625 2,065 2,736 944 151 2,054 52 54 118 9,799 RWE's Partner economic stake % 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 MW 1,625 2,065 2,736 944 151 2,054 52 54 118 9,799 Stake in %
RWE Power RWE Power RWE Power
1988 1984 1984
1,329 1,284 1,288 3,901
100.0 100.0 100.0
1,329 1,284 1,288 3,901
87.5 75.0 75.0
1,163 E.ON 963 E.ON 966 E.ON 3,092
12.5 25.0 25.0
Poland
RWE Power RWE Power RWE Power RWE Power VSE VSE EnviaM
1984 1981 1985 1963, 1969 1963 1972 1975
608 717 794 588 106 283 78 3.174
100.0 100.0 100.0 100.0 100.0 100.0 100.0
608 717 794 588 106 283 78 3.174
100.0 100.0 100.0 100.0 69.0 0 100.0
608 717 794 588 73 0 54 2.834
Steag
49.0
Various shareholders Various shareholders Various shareholders
31.0 31.0 30.4
1 As of 31 December 2011; rounding differences may occur on the power plant list.
158
ORGANISATION
MARKET DATA
RWEs Germany Divisions power plant portfolio1 (II)

Power plant Country (Germany unless stated) Operating company Commissioned Net capacity RWE's legal consolidation stake % MW 1,826 1,285 112 544 21 12 326 260 314 292 10 8 215 2 2 0 5,228 RWE's Partner economic stake % 100.0 100.0 100.0 100.0 100.0 100.0 100.0 0.0 100.0 0.0 89.9 79.0 various 100.0 100.0 58.0 MW 1,826 1,285 112 544 21 12 326 0 314 0 9 6 229 2 2 0 4,687 Stake in
MW Gas Emsland B, C, D Gersteinwerk F - I Gersteinwerk Werne Kv1 Weisweiler VGT G, H Bochum Dortmund GuD Dormagen GuD Dormagen Huckingen Huckingen LEW Aviko Swag Gas enviaM (various) RWN (various) RWE Vertrieb (various) Kevag (various) Total gas Oil Grokayna Sermuth Peissenberg (gas, oil) Total oil RWE Power RWE Power RWE Power RWE Power RWE Power RWE Power RWE Power RWE Power RWE Power RWE Power LEW Swag enviaM RWE RWN RWE Vertrieb Kevag 1973, 1974, 2010 1973 1984 2006 2004 2004 2000 2000 1975, 1976 1975, 1976 2000 1992-2001 1986-2009 1999-2011 2002-2011
1,826 100.0 1,285 100.0 112 100.0 544 100.0 21 100.0 12 100.0 326 100.0 260 100.0 314 100.0 292 100.0 10 100.0 8 100.0 352 various 2 100.0 2 100.0 0 100.0 5,365
Bayer AG Krupp-Mannesmann Municipal shareholders Various shareholders
100.0 100.0 10.01 21.0 Various
43.0
enviaM enviaM LEW
1994 1995 1987, 1990
119 100.0 17 100.0 11 100.0 147
119 100.0 17 100.0 11 50.0 147
119 17 6 E.ON 141
50.0
159
ORGANISATION
MARKET DATA
RWEs Germany Divisions power plant portfolio1 (III)

Power plant Country (Germany unless stated) Operating company Commissioned Net capacity MW Renewables wind (onshore) enviaM (various sites) Windpark Westerwald (KEVAG) Windpark Westerwald (GmbH) Total renewables wind Renewables run-of-river KW Laufwasser (various sites) Palzem LEW Water SWAG Water RWW GmbH enviaM Water Kevag Water Pleumhle Total renewables run-of-river enviaM KEVAG KEVAG 22 15 3 40 RWE's legal consolidation stake % 100.0 100.0 100.0 MW 22 15 3 40 RWE's Partner economic stake % 100.0 100.0 100.0 MW 22 15 Various shareholders 3 Various shareholders 40 Stake in %
42.5 68.7
Luxembourg
RWE Power RWE Power LEW Swag RWE RWN enviaM Kevag RWE RWN
1928
1992
12 5 169 17 5 10 0 0 218
100.0 100.0 Various 100.0 100.0 100.0 100.0 100.0
12 100.0 5 50.0 157 Various 17 78.8 5 100.0 10 100.0 0 58.0 0 100.0 206
12 2 104 12 5 10 0 0 145
State contract with Luxemb. Various shareholders Municipal shareholders
50.0 22.4
Stadt Dren
42.5 25.1
Renewables other Malchin (biomass oil) enviaM Bernkastel (Solar) RWE Power Landfill gas (various sites Various Biogas (various sites) enviaM Biomass-fired thermal power RWE RWN station Neubrcke Various Vegetable oil (various sites) Various Solar (various sites) RWE De. Biomethane RWE RWN BHKW Schllershamer (biogas) Total renewables other 1 Rounding differences may occur on the power plant list.
2003
2007-2011 2003
11 0 1 4 7 1 6 2 1 33
100.0 100.0 Various 100.0 100.0 Various Various 100.0 100.0
11 100.0 0 100.0 1 Various 4 100.0 7 100.0
11 0 1 Various 4 7 0 Various 2 0 1 City of Dren 26
2005
1 Various 1 Various 2 100.0 1 100.0 28
25.05
160
ORGANISATION
MARKET DATA
RWEs Germany divisions power plant portfolio1 (IV)

Power plant Country Operating (Germany company unless stated) Commissioned Net capacity MW Other MHKW Karnap MVA Weisweiler Kpchenwerk (pumped storage) SRS Ecotherm Total other Contractually secured plants STEAG (hard coal) RuhrEnergie (hard coal) SaarEnergie (hard coal) Other hard coal Neckar (run-of-river) Rhein-Main-Donau (run-of-river) Kaunertal (pumped storage) Schluchsee (pumped storage) SEO Vianden (pumped storage) BHKW Bioenergie Bottwartal Total contractually secured plants Total capacity of the Germany Division 1 As of 31 December 2011; rounding differences may occur on the power plant list. RWE Power RWE Power RWE Power RWE Power 1987 1996 1989 2003 38 24 153 1 216 RWE's legal consolidation stake % 100.0 100.0 100.0 100.0 MW 38 24 153 1 216 % 100.0 100.0 100.0 100.0 RWE's Partner economic stake MW 38 24 153 1 216 Stake in %
Austria
RWE Power RWE Power RWE Power RWE Power RWE Power RWE Power RWE Power RWE Power RWE Power Swag
2009
3,028 1,986 811 557 29 10 160 870 1,096 1 8,547 31,440
0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
3,028 1,986 811 557 29 10 160 870 1,096 1 8,547 31,286
100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
3,0282 1,9862 8112 557 2 292 102 1602 8702 1,0962 12 Bioenergie Bottwartal 8,547 29,528
100.0
161
ORGANISATION
MARKET DATA
RWEs Netherlands/Belgium divisions power plant portfolio1 (I)

Power plant Country (Netherlands unless stated) Operating company Commissioned Net capacity MW Hard coal Amercentrale ST 8 Amercentrale ST 9 Total hard coal Gas Amercentrale AC21 Donge CC ELES Eindhoven Philipps GT Enschede Cogen Erica CC 1&2 Helmond GT 1 Helmond GT2 Inesco (Antwerp) Klazienaveen CC 1&2 Moerdijk Philip Morris 1 (Bergen op Zoom) sHertogenbosch (Den Bosch) Swentibold CC Clauscentrale A Total gas Renewables run-of-river Linne HH 1-4 (hydro run-of-river) Total run-of-river Essent Essent 1980 1993 515 401 916 RWE's legal consolidation stake % 100.0 100.0 MW 515 401 916 % 100.0 100.0 RWE's Partner economic stake MW 515 401 916 Stake in %
Belgium
Essent Essent Essent Essent Essent Essent Essent Essent Essent Essent Essent Essent Essent Essent Essent
1972 1976 1995 1985 1996 1982 1988 2007 1996 1996 1995 1994 1999 1977
15 121 83 52 58 63 25 25 133 63 339 33 33 245 610 1,897
100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
15 121 83 52 58 63 25 25 133 63 339 33 33 245 610 1,897
100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
15 121 83 52 58 63 25 25 133 63 339 33 33 245 610 1,897
Essent
1989
11 11
100.0
11 11
100.0
11 11
162
ORGANISATION
MARKET DATA
RWEs Netherlands/Belgium divisions power plant portfolio1 (II)

Power plant Country (Netherlands unless stated) Operating company Commissioned Net capacity MW Renewables other Cuijk Amercentrale ST8 Amercentrale ST9 Total renewables other Cogeneration (gas) Delesto 1 Delesto 2 Desco (Dupont) Elsta CC Hunzestroom Dobbestroom Total cogeneration (dispatch rights)2 Contracted plants EPZ (nuclear) EPZ (hard coal) EPZ (wind) Total contracted plants Total capacity of the Netherlands/Belgium Division 1 As of 31 December 2011; rounding differences may occur on the power plant list. Essent Essent Essent 1999 1980 1993 25 96 199 320 RWE's legal consolidation stake % 100.0 100.0 100.0 MW 25 96 199 320 % 100.0 100.0 100.0 RWE's Partner economic stake MW 25 96 199 320 Stake in %
Essent Essent Essent Essent Essent Essent
1987 1998 1997 1998 1996 1996
180 350 39 469 25 35 1,098
0.0 0.0 0.0 0.0 0.0 0.0
0 0 0 0 0 0 0
50.0 50.0 33.0 25.0 50.0 50.0
90 175 13 117 13 18 425
Akzo Nobel Akzo Nobel Dupont AES, Delta AveBe AveBe
Essent Essent Essent
1973 1986 2004
485 404 12 901 4,045
0.0 0.0 0.0
0 0 0 0 3,144
30.0 30.0 30.0
146 Delta 121 Delta 4 Delta 270 3,414
70.0 70.0 70.0
163
ORGANISATION
MARKET DATA
RWEs UK divisions power plant portfolio1

Power plant Country (UK unless stated) Operating company Commissioned Net capacity MW Hard coal Aberthaw B Didcot A Total hard coal Gas Great Yarmouth Little Barford Didcot B Staythorpe Total gas Cogeneration (gas) Phillips Petroleum Bridgewater Paper BASF Aylesford Newsprint Whitegate Dow Coming Huntsman Tioxide Hythe Total cogeneration (gas) Oil Littlebrook D Fawley OCGTs (gas oil, various sites) Total oil Renewables other Tilbury B (biomass) Total renewables other Total capacity of the UK Division RWE npower RWE npower 1971-1979 1972-1975 1,554 1,958 3,512 RWE's legal consolidation stake % 100.0 100.0 MW 1,554 1,958 3,512 % 100.0 100.0 RWE's Partner economic stake MW 1,554 1,958 3,512 Stake in %
RWE npower RWE npower RWE npower RWE npower
2001 1994 1996-1997 2010
380 635 1,420 1,728 4,163
100.0 100.0 100.0 100.0
380 635 1,420 1,728 4,163
100.0 100.0 100.0 100.0
380 635 1,420 1,728 4,163
Ireland
RWE npower RWE npower RWE npower RWE npower RWE npower RWE npower RWE npower RWE npower
1999 2000 1997 1994 1998 1998 2003 2005
55 58 81 99 6 27 15 53 394
100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
55 58 81 99 6 27 15 53 394
100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0
55 58 81 99 6 27 15 53 394
RWE npower RWE npower RWE npower
1982-84 1969-70
1,140 968 549 2,657
100.0 100.0 100.0
1,140 968 549 2,657
100.0 100.0 100.0
1,140 968 549 2,657
RWE npower
2011
742 742 11,468
100.0
742 742 11,468
100.0 100.0
742 742 11,468
164
ORGANISATION
MARKET DATA
RWEs Central Eastern and South Eastern Europe division's plant portfolio1
Power plant Country Operating company Commissioned Net capacity MW Hard coal TE Plomin 2 Total hard coal Lignite Mtra Total lignite Gas Mtra Sinergy (various sites) Total gas Renewables run-of-river MSZ Total renewables run-of-river Total CEE Division 1 As of 31 December 2011; rounding differences may occur on the power plant list. Croatia TE Plomin d.o.o. 2000 192 192 RWE's legal consolidation stake % 0.0 MW 0 0 % 0.0 RWE's Partner economic stake MW 0 HEP d.d. 0 Stake in % 50.0
Hungary
Mtra
1967
763 763
100.0
763 763
51.0
389 EnBW, MVM 389
49.0
Hungary Hungary
Mtra Sinergy
2007 2000-2005
60 127 187
100.0 Various
60 87 147
51.0 Various
31 EnBW, MVM 96 127
49.0
Hungary
2007
1 1 1,143
100.0
1 1 911
100.0
1 1 517
165
ORGANISATION
MARKET DATA
RWEs Renewables divisions generation portfolio1 (I)

Power plant Country Operating company Commissioned Net capacity MW Renewables wind (onshore unless stated) RWE Innogy wind (various sites) Germany RWE Innogy (various sites) Netherlands Kirkby Moor UK Taff Ely UK Bryn Titli UK Carno UK Trysglwyn UK Windy Standard UK Llyn Alaw UK Novar UK Mynydd Gorddu UK Beinn Ghlas UK Lambrigg UK Bears Down UK Tow Law UK Causeymire UK Farr UK Ffynnon Oer UK North Hoyle (offshore) UK Hameldon Hill UK Burgar Hill UK Knabs Ridge UK Bilbster UK The Hollies UK Rhyl Flats (offshore) UK Little Cheyne Court UK An Suidhe UK Lindhurst UK Lochelbank UK RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy Various 1987-2009 1993 1993 1994 1996 1996 1996 1997 1997 1998 1999 2000 2001 2001 2004 2006 2006 2003 2007 2007 2008 2008 2008 2009 2009 2010 2010 2011 RWE's legal consolidation stake % MW 450 201 5 9 10 0 0 0 0 0 0 0 0 0 0 48 92 32 60 5 5 16 4 3 90 60 19 9 10 % Various 100.0 100.0 100.0 100.0 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 RWE's Partner economic stake MW 448 201 52 92 102 0 0 0 0 0 0 0 0 0 0 482 922 322 602 5 5 16 4 3 90 60 19 9 10 Stake in %
455 Various 201 100.0 5 0.0 9 0.0 10 0.0 34 0.0 6 0.0 22 0.0 20 0.0 17 0.0 10 0.0 8 0.0 7 0.0 10 0.0 2 0.0 48 0.0 92 0.0 32 0.0 60 0.0 5 100.0 5 100.0 16 100.0 4 100.0 3 100.0 90 100.0 60 100.0 19 100.0 9 100.0 10 100.0
3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3
66.7 66.7 66.7 66.7 66.7 66.7 66.7 66.7 66.7 66.7 66.7 66.7 66.7 66.7 66.7 66.7 66.7
49
1 As of 31 December 2011; rounding differences may occur on the power plant list. 2 Capacities of power plants not owned by RWE, but that RWE can deploy at its discretion on the basis of long-term agreements. 3 M&G Investment Management Limited, JPMorgan Investment Management Inc. RWE Facts & Figures | Updated September 2012
166
ORGANISATION
MARKET DATA
RWEs Renewables divisions generation portfolio1 (II)

Power plant Country Operating company Commissioned Net capacity MW Renewables wind (onshore unless stated) Hellrigg Sirigo Bulgueira Guilhado Thornton Bank (offshore) Acampo Amijo EE de Muel Grisel I Grisel II Los Labrados Plana de la Balsa Plana de Zaragoza Danta Aldehuelas Bosque Alto Plana Maria Rio Gallego Lanternoso Bancal Siglos Suwalki Piecki Tychowo San Basilio Uriri Anzi Total renewables wind 1 As of 31 December 2011; rounding differences may occur on the power plant list. RWE Facts & Figures | Updated September 2012 UK Portugal Portugal Portugal Belgium Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Spain Poland Poland Poland Italy Italy Italy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy 2011 2005 2003 2009 2009 2002 1998 2001 2005 2002 2002 2002 2004 2005 2002 2002 2003 2005 2007 2007 2009 2010 2010 2010 2010 2011 9 4 2 2 31 18 16 14 3 24 24 24 129 47 22 24 39 24 21 18 41 32 35 25 26 16 1,931 100.0 0.0 0.0 0.0 0.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 9 0 0 0 0 18 16 14 3 24 24 24 129 47 22 24 39 24 21 18 41 32 35 25 26 16 1,758 100.0 32,3 39.4 39.4 26.7 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 45.1 100.0 100.0 100.0 100.0 100.0 100.0 100.0 51.0 100.0 51.0 51.0 51.0 9 1 1 1 8 18 16 14 3 24 24 24 128 45 22 24 39 24 21 18 41 16 35 13 13 8 1,714 49 49 49 49 1.3 5 67.7 60.6 60.6 73.3 5 RWE's legal consolidation stake % MW % RWE's Partner economic stake MW Stake in %
167
ORGANISATION
MARKET DATA
RWEs Renewables divisions power plant portfolio1 (III)

Power plant Country Operating company Commissioned Net capacity MW Lignite HKW Nachod HKW Albrechtice Total lignite Hard coal HKW Schneweide Total hard coal Gas Heidelberg Various BHKW Pribor HKW Breclav Total gas Renewables hydro run-of-river Saarwasser RADAG (various) RWE Innogy run-of-river (various sites) npower Renewables (various sites) Energies France (various sites) AERSA (various sites) Villalgordo (AERSO) Czech Rep. Czech Rep. RWE Innogy RWE Innogy 1970/1950 2006 17 2 19 RWE's legal consolidation stake % 100.0 100.0 MW 17 2 19 % 100.0 100.0 RWE's Partner economic stake MW 17 2 19 Stake in %
Germany
RWE Innogy
1992
10 10
100.0
10 10
100.0
10 10
Germany Czech Rep. Czech Rep.
RWE Innogy RWE Innogy RWE Innogy RWE Innogy
2002 1992-2002 1999 2001
14 30 0 1 44
100.0 100.0 100.0 100.0
14 30 0 1 44
100.0 100.0 100.0 100.0
14 30 0 1 44
RWE Innogy RWE Innogy RWE Innogy RWE Innogy France Spain Spain RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE innogy RWE Innogy 1958-1989 1998-2000 1998 1996-2004 1993 2008
32 100 244 69 45 7 6 16 3 3 525
100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 0.0 0.0
32 100 244 69 45 7 6 16 0 0 519
100.0 78.0 100.0 100.0 100.0 100.0 60.0 82.4 32.3 39.4
32 78 RADAG 244 69 45 7 3 13 1 1 494 Gruforsa, Sauces Treinta, Rssula
22.0
40.0 18.6 67.7 60.6
INVESTERG (various sites) Portugal Ribadouro (INVESTERG) Portugal Vales (INVESTERG) Portugal Total renewables hydro run-of-river
1 As of 31 December 2011; rounding differences may occur on the power plant list. RWE Facts & Figures | Updated September 2012
168
ORGANISATION
MARKET DATA
RWEs Renewables divisions power plant portfolio1 (IV)

Power plant Country Operating company Commissioned Net capacity MW Renewables other Solar (various sites) Kehl (biomass wood) Kehl II (biomass wood) Bergkamen (biomass wood) Berlin-Neuklln (biomass wood) RWE Innogy (landfill gas) BMHKW Wittgenstein Total renewables other RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy RWE Innogy 52 9 3 20 20 1 5 109 RWE's legal consolidation stake % Various 100.0 100.0 100.0 100.0 100.0 100.0 MW 1 9 3 20 20 0.5 5 58 % Various 51.0 51.0 100.0 100.0 100.0 100.0 RWE's Partner economic stake MW 1 4 August Koehler AG 1 20 August Koehler AG 20 1 5 53 Stake in %
Germany Germany Germany Germany Germany Germany
2003 2011 2006 2005 2010
49.0 49.0
66.7
Contractually secured plants AEW, Klingnau Switzerland Totally contractually secured plants Totally renewable energies Total RWE Group
RWE Innogy
37 37 2,681 50,777
0.0
23 23 2,430 49,239
62.5
23 23 2,356 47,283
1 As of 31 December 2011; rounding differences may occur. 2 Capacities of power plants not owned by RWE, but that RWE can deploy at its discretion on the basis of long-term agreements.
169
ORGANISATION
MARKET DATA
RWEs major power plants in Germany

Natural Gas Power plant Thermal power plant Gas and steam Waste gas recycling Lignite Opencast pit Power plant Factory Hard Coal Power plant Nuclear Power Nuclear power plants Other Hydropower Refuse incineration
170
ORGANISATION
MARKET DATA
RWE npowers major power plants in the UK

Gas Coal CCGT1 Oil/Gas Biomass
Staythorpe Pembroke Didcot A Aberthaw B Didcot B Fawley 2,188 MW 1,958 MW 1,554 MW 1,420 MW 968 MW Great Yarmouth Little Barford Littlebrook D Tilbury B
1,728 MW 380 MW 635 MW 1,140 MW 742 MW
1 CCGT: Combined-Cycle Gas Turbine.
171
ORGANISATION
MARKET DATA
Essents major power plants in the Netherlands

Existing power plants and new builds of Essent
Name: Moerdijk I Place: Moerdijk Fuel: Gas Capacity: 339 MW Year of commission: 1996 Name: Eemshaven Place: Eemshaven Fuel: Coal/Biomass Capacity: 1,600 MW Year of commission: 2014 Name: Mid-sized units Place: Enschede, Helmond, etc. Fuel: Gas Capacity: various Year of commission: 1982-2007 Name: Bio-centrale Cuijk Place: Cuijk Fuel: Biomass Capacity: 25 MW Year of commission: 1999 Name: Claus C Place: Maasbracht Fuel: Gas Capacity: 1,304 MW Year of commission: 2012 Name: Claus A Place: Maasbracht Fuel: Gas Capacity: 610 MW Year of commission: 1977
Name: Moerdijk II Place: Moerdijk Fuel: Gas Capacity: 426 MW Year of commission: 2012
Name: Amercentrale Place: Geertruidenberg Fuel: Coal, gas, biomass Capacity: 1,226 MW Year of commission: 1972-1993
Name: Swentibold Place: Geleen Fuel: Gas Capacity: 245 MW Year of commission: 1999
172
ORGANISATION
MARKET DATA
Age structure of RWEs German power plants in 2012

Hard coal (8 GW)1
Age (years) 0 1.000 >50 45 40 35 30 25 20 15 10 5 1
2
Lignite (9.6 GW)

Age (years) 0 1.000 >50 45 40 35 30 25 20 15 10 5 1
3 4
Gas/Oil (5.5 GW)

MW Age (years) 3.000 0 1.000 >50 45 40 35 30 25 20 15 10 5 1
5
Nuclear (3.1 GW)

MW Age (years) 3.000 0 1.000 >50 45 40 35 30 25 20 15 10 5 1 2.000 MW 3.000
2.000
MW 3.000
2.000
2.000
~40% older than current average Existing RWE power plants New build projects Source: RWE.
~62% older than ~56% older than ~63% older than current average current average current average Average age excl. new build projects 1 Incl. capacities contracted in long-term agreements. Average age incl. new build projects 2 Westfalen D&E (COD 2013) 3 BoA 2&3 4 BoA 1 5 CCGT Lingen
173
ORGANISATION
MARKET DATA
Overview of technologies in RWE Innogys main focus

Wind offshore
Criteria
Wind onshore
Biomass
Hydro
Maturity of technology
> Pioneer phase > Industry is making substantial progress > UK: growing > Germany, Netherlands, Belgium: emerging
> Mature
> Mature
> Very mature
Markets
> CE/SE: stable > EE: growing > SEE: emerging
> Germany, UK, Italy > Benelux: emerging > USA: growing (upstream pellets) > Market for fuel supply > Sustainability
> CE/SE: mature > SEE: growing, significant potential
Specialities
> Partnerships share risk and expertise
> Partly fragmented markets
> Large scale hydro limited to few countries in Europe > Long run times > Average size >1 MW and all types
Size of projects (capacity) Approx. load factor
> Large (500 1,000 MW)
> Small to medium (20 200 MW)
> Small to medium (5 80 MW) > 100k 750k ton/a pellet plant
35 40%
25 30%
80%
50%
174
ORGANISATION
MARKET DATA
New applications on their path to commercialisation

New Applications Solar thermal
Criteria
> Solar Thermal: maturing > Core technology: developing > Feed-into the gas grid: maturing > Small assets: demonstration phase > Large assets: commercial operation (similar to offshore wind) > UK and France: emerging > Locations for Tidal Stream are available > Tidal: predictable power generation > Small: < 30 MW > Large: >> 100 MW > Core technology: mature > Need to develop smart PV and grid integration
Biogas
Marine energy
Photovoltaic
Maturity of technology
> Spain, Italy, Greece, Turkey: growing > North Africa: potential
Markets
> Germany: growing, strong targets by government
> Germany: growing in customer related smart PV plants > Mediterranean countries: growing > Capacity freely scalable
Specialities Size of projects (capacity) Approx. load factor
> Storage systems
> Feedstock dependency > Feed-in into the grid > Small: 5 50 MW
> Small to medium: 20 150 MW
> Small to large: 1 kW >> 100 MW
57%
90%
25 35%
Germany: 8 12%, Spain and Southern Italy: 20 25%
175
ORGANISATION
MARKET DATA
Lignite-fired power generation: Higher efficiency, less CO2, more flexibility

Thermal efficiency
%
60
1957 Frimmersdorf: 150 MW = 30.8 1970 Niederauem: 300 MW = 35.8 2010 Neurath: BoA 2&3 1,100 MW > 43
Flexibility
MW
1.100
BoA plus
Max. capacity Min. capacity Max. change rate of load ~ 2x550 MW ~ 3501/1752 MW +/- 30 MW/min
1.000
50
BoA 1 to 3
800
Max. capacity ~ 1,000 MW Min. capacity ~ 500 MW Max. change rate of load +/- 30 MW/min
40 600 30
1975 Weisweiler: 600 MW = 1966 Frimmers- 36.6 dorf: 300 MW = 31.4 2003 Niederauem: BoA 1 1,000 MW > 43 far after 2020 700 CBoAplus 1,100 MW 50
BoA plus 1,100 MW > 45
400
Combined-Cycle Power Plant Lingen

Max. capacity ~ 2x440 MW Min. capacity ~ 5201/2602 MW Max. change rate of load +/- 32 MW/min
20
200
Min.capacity2 Min.capacity2
10
0 0 1957 1972 1987 2003 2010 2020 2030
10
15
20
25
1 Two boilers in operation. 2 One boiler in operation.
30 Minutes
176
ORGANISATION
MARKET DATA
RWEs lignite production in the Rhenish mining region

Million mt lignite
120
100
Frimmersdorf-Sd Frimmersdorf-West
80
Garzweiler I
Garzweiler II
60
Fortuna-Garsdorf Hambach I Frechen Bergheim
40
20
Inden
0 1970
Sdrevier Zukunft-West
1980 1985 1990 1995 2000 2005
Inden I + II
2010 2015 2020
1975
10
11
3 Actual values
Number of mines
Position: May 2011.
Mining capacity
177
ORGANISATION
MARKET DATA
RWEs Rhenish lignite mining region

A 46
Mine premises Former mine premises being restored Restored mine premises Water Lignite-fired power plants Coal processing plant Approved mining area
A 46 Grevenbroich A 540
Erf t
Tagebau Garzweiler Garzweiler II
Frimmersdorf Neurath A 61
Nord - Sd - Bahn
A 44 Bedburg
Niederauem Fortuna-Nord
A 61
Bergheim
Kln Cologne
Rhein
Sophienhhe A 44 Jlich
Tagebau Hambach
Ru r
Frechen A1 Wachtberg A4
47 7n
Tagebau Inden
Ha
hn ba ach mb
Hrth
E rft
Ville/Berrenrath Goldenbergwerk A 61
A 555
A4 Weisweiler
Brhl
As of January 2012.
Eschweiler
DB K ln -
Ind e
Aac hen
Dren
178
ORGANISATION
MARKET DATA
RWEs emissions profile

RWEs in-house power generation in 2011
Billion kWh1
Lignite Hard coal 74.1 47.8
RWEs CO2 emissions in 2011

Million metric tons of CO22
180 160 140 161.9
Nuclear
34.3
120
116.6
Total: 205.7
Gas 38.5
100 80 60 40 20 45.3
Renewables Pumped storage, oil, other
8.8 2.2
CO2 CO2 emissions emissions
Free allocation allocation Shortage of CO2 Free Shortage of CO2 certificates certificates
1 Including electricity procured from power plants not owned by RWE that we can deploy at our discretion on the basis of long-term agreements, amounting to 22.9 billion kWh, of which 20.8 billion kWh are from hard coal. 2 Includes power stations not owned by RWE that we can deploy at our discretion on the basis of long-term agreements. In 2011, they produced 20.4 million metric tons of CO2 and were allocated certificates for 18.9 million metric tons.
179
ORGANISATION
MARKET DATA
RWE Powers nuclear power plant decommissioning concept (I)

35 40% share of costs About 50% share of costs Decommissioning 10 15% share of costs
Post operational phase 5 7 years

> Power production has ceased
Nuclear dismantling (immediate, deferred) 10 15 years

> Dismantling of contaminated and activated systems, structures and components
Conventional dismantling/ demolition 2 3 years
Final disposal
> In some cases, technical infrastructure needs to be > Materials and waste management (treatment, operated for an additional period conditioning, packaging) > For the time being, fuel elements are being cooled in pond storage facilities until they are suitable for dry-cask (CASTOR) storage on site > Systems no longer need to be shut down > Treatment of operating materials and waste
> Conventional > Final disposal of demolishing of decommissioning waste buildings/components which fall no longer under the German Nuclear Energy Act (AtG).
180
ORGANISATION
MARKET DATA
RWE Powers nuclear power plant decommissioning concept (II)

35 40% share of costs About 50% share of costs Decommissioning 10 15% share of costs
Post operational phase 5 7 years
Nuclear dismantling (immediate, deferred) 10 15 years
Conventional dismantling/ demolition 2 3 years
Final disposal
Explanation of the post operational phase:

> To roughly estimate the expenses of an NPP post-closure, there are several phases that need to be taken into account. The first phase, called post-operational period, encompasses 5-7 years after closure. Directly after closure, the fuel rods are moved from the reactor to the spent-fuel pool for further cooling. During approx. five years fuel rods will be transferred to steel casks (CASTOR) and moved from containment to an interim storage facility. > As soon as the NPP is fuel-free, fixed costs can be reduced further. Hence, there is an ongoing need for inspection and (external) review (TV). > Please note that this refers only to the service operating cost in the post operational phase and doesnt include any dismantling/demolition costs. > Costs are booked against provisions; they do not have an effect on the profit and loss statement.
181
ORGANISATION
MARKET DATA
Nuclear provisions
Provisions for uncertain liabilities as per IAS 37
Public-law liabilities under Sec. 9a of the Germany Nuclear Energy Act
Provisions are made for > Disposal of spent nuclear fuel assemblies Flasks, transport, conditioning, intermediate and final storage
RWE fiscal year 2011: 10,366 million 4,658 million 4,964 million 744 million
> Decommissioning of nuclear power plants Post-operation phase, dismantling, removal, final storage > Disposal of radioactive operating waste (e.g. cleaning cloths, oils, resins) Conditioning, flasks, intermediate and final storage
Inflation of current cost to the assumed disposal date by a set inflation rate; then discounting of the result back to today (discount rate 5.0%)
182
ORGANISATION
MARKET DATA
How the size of the provision is determined

Schematic description
million 2 Escalation rate (specific cost increase)
1 Annual interest accretion 4
3 Discount rate (discount to net present value) Amount payable
Total cost at the cut-off date
Provisions IFRS
2010
2010
2011
2012
20..
183
ORGANISATION
MARKET DATA
RWE Electricity Fuels
RWEs hard coal purchases by country of origin in 20111

Russia 19.2%
Colombia
42.6%
Total: 9.6 million metric tons
UK
15.6%
Poland USA South Africa Germany
2.9% 4.9% 3.9% 10.9%
1 Data of RWE npower refer to purchase of hard coal, the rest refer to hard coal usage. Source: RWE.
184
ORGANISATION
MARKET DATA
RWEs use of fuels in proprietary power plants (I)

Use of hard coal
Million metric tons
16 15.2 12.9 12 9.6 8 50 3 3.0 4 25 1,5 1.5
Use of lignite
Million metric tons
125 100.1
Use of natural gas

Billion cubic metres
9 9.0 7,5 7.5 6 6.0 8.9
8.2
6.6 6.8 6.1 4.6
12.1
11.5 9,6 9.6
100
96.3
95.4
92.3
90.5
95.0
75
4.5 4,5
0 2006 2007 2008 2009 2010 2011
0 2006 2007 2008 2009 2010 2011
0 0
2006 2007 2008 2009 2010 2011
Source: RWE.
185
ORGANISATION
MARKET DATA
RWEs use of fuels in proprietary power plants (II)

Use of nuclear fuel1
Metric tons
150 119 109
2
Use of biomass
Metric tons
3 3.0
120
114
2.3
90
74
74
77
1.1 1 0.9 0.7
1.6
60
30
0 2006 2007 2008 2009 2010 2011
0 2006 2007 2008 2009 2010 2011
1 Prior-year figures adjusted due to new definition. Source: RWE.
186
ORGANISATION
MARKET DATA
RWE Electricity Trading
RWE Supply & Trading acts as the interface between the RWE Group and global wholesale energy markets
Embedded lignite supply Power Gas Oil Coal Freight Weather Emission certificates Biomass Retail, small/medium sized industrials, municipals Sale of power and gas to end customers RWEs sales companies

RWEs generating companies 1. Trading > Face to the wholesale market > Proprietary trading activities Sale of fuels and emission certificates Transfer of commercial responsibility Sale of power
> Investment decisions > Technical optimisation

to increase value of assets
> Sale to customers

(power, gas)
> Back-to-back
procurement
> Operation and

maintenance of generation assets
2. Commercial Asset Optimisation > Commercial optimisation of assets, fuel supply and asset hedging on behalf of generating companies > Asset-backed trading activities > Reserve & balancing, ancillary services, face to TSOs1 Sale of power and gas
> Lock-in sales margin Sale of power > Bear volume and and gas credit risk
Options and emission certificates Industrial customers Sale of power, gas, emission certificates
187
3. Sales & Origination > Physical and financial customer business, principal investments, complex illiquid transactions and services > Internal/external back-to-back procurement 1 TSO = Transmission system operator.
ORGANISATION
MARKET DATA
RWE Electricity Trading
RWE Supply & Trading: trading volumes in 2011
Electricity
billion kWh
1,435
Gas
billion m3
753
Oil
million bbl
618
CO2
million certificates
644
RWE Supply & Trading (Essen, Germany), is a leading European energy trading house for all commodities, in both their physical and/or derivative forms. As one of Europes strongest competitors in the gas industry, we optimise RWEs entire non-regulated gas business. Our headquarters boast Europes largest energy trading floor, complementing additional sites in Europe, the Middle East, Asia and the Americas.
188
ORGANISATION
MARKET DATA
RWE Electricity Grid
RWEs German electricity network (2011)

RWE network regions in Germany
Circuit length of 342,000 km, with 89,900 substations/transformers

Length in km Transport (extra high voltage (380/220 kV)) Distribution high voltage (110 kV) medium voltage ( 60 kV)
Halle Leipzig Dresden Chemnitz
German market1 34,750 78,250 512,000 1,200,000 1,790,250
RWE2
0 25,000 96,000 221,000 342,000
Osnabrueck
Dortmund Gelsenkirchen Essen
low voltage ( 1 kV) Total
1 Preliminary figures. Source: BDEW. 2 12/2011 figures. Source: RWE Deutschland AG.
Koblenz
Frankfurt am Main
Saarbruecken
Ludwigsburg
Stuttgart Munich
189
ORGANISATION
MARKET DATA
RWE Electricity Supply
RWEs share in European electricity supply markets (2011)

%
40 31 30 24 20
15 12
14 8 5 3 2 Czech Rep.
10
0 Germany Netherlands UK Hungary
Slovakia
Austria
Poland
Belgium
1 Including minority interests 20%.
190
ORGANISATION
MARKET DATA
RWEs electricity customers1 by country

as of 31 December 2011
Thousand 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0
Germany Netherlands Belgium UK Hungary Poland 177 2,169 3,935 6,959
2,178 897
191
ORGANISATION
MARKET DATA
RWEs electricity sales volume by country in 2011

Billion kWh Germany Residential and commercial customers Industrial and corporate customers Distributors Electricity trading1 Total 25.8 55.1 91.0 20.8 192.7 NL/BE 10.7 15.9 26.6 UK 17.4 32.9 50.3 Poland 3.0 3.4 6.4 Hungary 5.5 5.2 5.8 16.5 Others 0.2 0.6 1.3 2.1 Total 62.6 113.1 98.1 20.8 294.62
1 Net of electricity purchased from third parties 2 Difference between electricity production and electricity sales volume due to grid losses, own consumption of lignite production and pumped-storage power plants.
192
ORGANISATION
MARKET DATA
RWEs electricity sales by customer group in 2011 (I)

Division: Germany Division: Netherlands/Belgium
Distributors
51%
Residential and commercial customers 51%
Industrial and corporate customers 27%
193
ORGANISATION
MARKET DATA
RWEs electricity sales by customer group in 2011 (II)

Division: UK Division: Central Eastern and South Eastern Europe
Distributors
24%
Total: 50.3 bn kWh
Total: 23.7 bn kWh
194
ORGANISATION
MARKET DATA
RWE SmartHome: Energy control for homes

Control while not at home PC RWE Backend Central control unit
SmartHome HQ
Control within the house

PC
Transmitter1 Smartphone Encryption

Wall transmitter Remote control
Receiver1
Radiator thermostat Adapter plug
Configuration
Authentication Further details Internet, Certificates

Smoke detector Motion detector Door/window sensor Mobile access Virtual resident
Sensors1 Database
Apps/ Services
... allow energy savings, convenience & safety

Information/control 1 Further devices to follow.
195
ORGANISATION
MARKET DATA
RWE SmartHome: The link between different devices

Micro wind turbine Photovoltaic Energy efficiency Heating Health Heating
Entertainment
Security
Home automation
SmartHome controller Micro-CHP Smart meter White goods
Electromobility
Intelligent linking possible

196
Organisation
Market data
RWE
Gas
198 207 209 212 Upstream Storage Trading Downstream
197
ORGANISATION
MARKET DATA
RWE Gas Upstream
The upstream business value chain
Licensing
> Participation in bid rounds > Farm in
Actual licenses RWE Dea
96 thousand km2
> Seismic Exploration > Data processing > Drilling (dry wells) Expenses 2011 RWE Dea 123 million
> Drilling1 Development > Engineering > Construction (field and infrastructure) Capex 2011 RWE Dea 687 million
> Operation Production > Transport > Sale

1 Including capitalised exploration and appraisal wells.
Production 2011 RWE Dea
32 million boe
198
ORGANISATION
MARKET DATA
RWE Gas Upstream
Classification of reserves & resources

Range of uncertainty
P90 90% chance of exceeding the estimate P50 50% chance of exceeding the estimate P10 10% chance of exceeding the estimate
Commercial
Reserves
C1 C2 C3 S1
1P Proved
2P Proved + Probable
3P Proved + Probable + Possible
On production Under development Planned for development
Subcommercial
Low estimate S2
Best estimate
High estimate
Discovered (contingent)
Resources
E1 Low estimate E2 Best estimate High estimate

Undiscovered (prospective)
C-Reserves
S-Resources
199
ORGANISATION
MARKET DATA
RWE Gas Upstream
RWE Dea reserves/resources 2011 (P50)

Million barrel of oil equivalent end-of-year status
1,200
1200
1,000
993
1,018
1,046
1000
800
800
354
355
431
600 600 400 400

639
497
477
473
182 615 291
301
663
298
200 200
196 179
0 0
2011
2013e Crude oil resources Crude oil reserves
2015e
Natural gas resources Natural gas reserves Reserves = proved + probable. Resources = S1 + S2.
200
ORGANISATION
MARKET DATA
RWE Gas Upstream
RWE Deas asset resource contribution in 2011 (I)

Discovered reserves + resources (C+S) (RWE Dea share/working interest) North Africa/ Middle East 60%
Europe/CIS
25%
Total: 1,490 million boe2
Germany
15%
1 CIS = Commonwealth of Independent States. 2 boe = barrel of oil equivalent.
201
ORGANISATION
MARKET DATA
RWE Gas Upstream
RWE Deas asset reserve contribution in 2011 (II)

Reserves (C) (RWE Dea share/working interest)
North Africa/ Middle East
57%
Germany
16%
Total: 843 million boe1
Europe/CIS2
27%
1 boe = barrel of oil equivalent. 2 CIS = Commonwealth of Independent States.

202
ORGANISATION
MARKET DATA
RWE Gas Upstream
RWE Dea gas and oil production target: increase of annual volume to 40 million boe1 by 2014
Annual gas/oil production (million boe1)
CAGR ~ 9%
40
20
Gas
0
2011
2014
Oil
> The focus is organic growth by exploration and development of discovered resources, i.e. conversion of resources into reserves > RWE Dea is targeting to increase production to 40 million boe1 by 2014 through defined development projects > RWE Dea aims to double the production within this decade
1 boe = barrel of oil equivalent.
203
ORGANISATION
MARKET DATA
RWE Gas Upstream
Investment in international & organic growth: RWE Deas capex plan per region
million 2011 Germany 82 Average p.a. 2012 2016 Approx. 100 Gas: further production wells and compression facilities Oil: further production wells in Mittelplate offshore field UK: Southern North Sea (e.g. Breagh) Norway: Barents Sea; Norwegian Sea Caspian Region: Exploration / New ventures
Capex Europe/CIS1 437 Approx. 400
North Africa
168
Approx. 400 Egypt: Disouq onshore development, offshore Nile Delta Libya, Algeria Approx. 900
RWE Dea Exploration expenses (P&L relevant)
687
Additionally approx. 150 million p.a. exploration expenses (G&G, dry holes) in 201216 (not including successful exploration wells being capitalized)
1 CIS = Commonwealth of Independent States (Soviet union succession states).
204
ORGANISATION
MARKET DATA
RWE Gas Upstream
Upstream Oil & Gas overview of RWE Deas activities

North Sea / Barents Sea > RWE Dea holds position in Norwegian gas and oil production and is increasing gas production in UK > Objectives: Bring on stream new gas fields in UK Mature and further develop discoveries in Norway Further exploration
Poland Germany
Norway UK Denmark Ireland
Germany > Mature region > RWE Dea holds strong position in oil and gas production and gas storage > Objective: Stabilise production North Africa > High potential region > RWE Dea holds position in reserves in Egypt, Algeria and Libya > Objective: Boost gas field development in Egypt and Algeria CEE1 / Eastern NV2 > High potential region > RWE Dea holds licenses in Poland and Turkmenistan > Objective: Identify and assess projects in the Caspian Region to further establish an upstream position Exploration and production Exploration Trinidad / NV > High potential region > RWE Dea holds license in Trinidad > Objective: Carry on exploration work and build up further license positions 1 Central and Eastern Europe. 2 Eastern new ventures (e.g. Caspian Region).
Turkmenistan
Algeria Mauretania
Libya
Egypt
Trinidad & Tobago
205
ORGANISATION
MARKET DATA
RWE Gas Upstream
RWE Deas largest field developments

RWE share West Nile Delta (Egypt) Disouq (Egypt)2 Breagh Phase 1 (GB) Reggane (Algeria) Edvard Grieg3 (Norway) Knarr4 (Norway) NC 193 / 195 (Libya) NA 40% WMDW 20% 100% (Operator) 70% (Operator) 19,5% 20% 10% 100% (Operator) Capex1 billion 2.9 0.2 0.4 0.4 0.6 0.2 0.5
Production start
2012 2013 2014 2015 2016 2017 2018
1 2 3 4
RWEs share in capex. Budget doubling mainly due to rounding. Formerly Luno. Formerly Jordbr.
206
ORGANISATION
MARKET DATA
RWE Gas Storage
RWEs gas storage facilities: 14 facilities are in place or being expanded

Kalle Epe Epe (formerly Essent)
NETHERLANDS
Hje Xanten
GERMANY
Lobodice Tanovice
Stafurt
tramberk
CZECH REPUBLIC
Tvrdonice Doln Dunajovice
DEA SSO D SSO CZ
Wolfersberg Breitbrunn/ Eggsttt Inzenham

207
ORGANISATION
MARKET DATA
RWE Gas Storage
RWEs existing gas storage capacity: A total of some 6.4 billion cubic meters
Working gas volume (bcm) Doln Dunajovice SSO Czech Republic Hje Lobodice tramberk Tanovice Tvrdonice Epe H-gas SSO Germany Epe L-gas Kalle Stafurt Xanten Breitbrunn/ Eggsttt RWE Dea Inzenham Wolfersberg Total 0.459 0.533 0.215 0.353 0.185 1.080 0.500 0.365 6.366 870,000 400,000 450,000 550,000 280,000 520,000 300,000 240,000 5,285,000
+ to up 0.6 +u 0.5 o t p
Maximum withdrawal rate (m3/h)
Planned increase (bcm)
2.676
1,675,000
208
ORGANISATION
MARKET DATA
RWE Gas Trading
RWE Supply & Trading: Full integration of RWE Groups gas midstream and trading activities
Consolidation, optimization and growth platform for RWE's unregulated gas midstream and trading business > Gas procurement for RWEs Pan European sales operations
External & internal purchasing contracts and arrangements
Traded markets
Traded markets Sales contracts and arrangements
> Gas procurement for RWE Power's power plants > Gas Portfolio Optimization > Commercial responsibility for all liquefied natural gas (LNG) activities > Gas transport, transit and storage optimization > Functional responsibility for gas trading > Optimization of RWE OPCOs positions (e.g. management of gas sales for RWE Dea)
Upstream producers
Downstream business in NW Europe (incl. RWE Vertrieb and Essent) & Central Eastern European markets
RWE OPCOs (e.g. RWE Power, RWE npower)
RWE OPCOs (e.g. RWE Power, RWE npower)
209
ORGANISATION
MARKET DATA
RWE Gas Trading
RWEs long-term oil-indexed gas purchase portfolio

bcm p.a.
30 25 20 15 10 5 0 2009
RWEs long-term oil-indexed gas purchase portfolio at the end of the relevant year Already achieved reduction of the oil-indexed share of RWEs gas purchase portfolio
contract reviews initiated 2011 contract reviews initiated 2010

2012 2015 2018 2021 2024 2027 2030 2033 2036
> RWE and Statoil have reached an agreement on the outstanding gas contracts including a gradual adjustment of the contract price towards the prevailing market conditions and compensation for the historic period since the start of the renegotiations > Including the settlement with Statoil in June 2012 we have renegotiated more than 50% of our oil-indexed contract volumes since 2009. We are still in the price review process with two gas suppliers with a total volume of approx. 11 bcm p.a.
210
ORGANISATION
MARKET DATA
RWE Gas Trading
RWEs gas trading points

Exchanges
ICE (UK/NL) EEX (GER) APX/Endex (B/NL) Powernext (F) CEGH Exchange (A) Nordpool P-Gas/GME (I) OTE (CZ)
OTC
NBP (UK) TTF (NL) NCG/Gaspool (GER) PEG (F) CEGH (A) PSV (I) AOC (E) GTF (DK) Area D (N)
active target markets not active
Source: Supply & Trading.

211
ORGANISATION
MARKET DATA
RWE Gas Downstream
RWEs share of European gas downstream markets in 2011

%
100 80 60 40 20 0
Germany Belgium / Netherlands Belgium/ Netherlands UK CZ Hungary Slovakia
46
14 4
15
17
Germany
UK
Czech Republic1
Hungary1
Slovakia1
1 Including minority interests 20%.
212
ORGANISATION
MARKET DATA
RWE Gas Downstream
RWE gas customers by country1

as of 31 December 2011
Thousand 3,000 2,500 2,000 1,500 1,000 500 0
Germany Netherlands Belgium UK Czech Republic 82 1,295 1,942 1,836 2,636
213
ORGANISATION
MARKET DATA
RWE Gas Downstream
RWE gas sales in 2011 by customer group (I)

Division: Germany Industrial and corporate customers Division: Netherlands/Belgium Industrial and corporate customers
29%
58%
Distributors
38%
83.3 billion kWh

87.7 billion kWh
33%
42%
214
ORGANISATION
MARKET DATA
RWE Gas Downstream
RWE gas sales in 2011 by customer group (II)

Division: UK Industrial and corporate customers Division: Central Eastern and South Eastern Europe Industrial and corporate customers
5%
47%
40.2 billion kWh

Distributors
8%
58.9 billion kWh
95%
46%
215
ORGANISATION
MARKET DATA
RWE Gas Downstream
RWE Group gas sales volume by country in 2011

Billion kWh Czech Republic 26.9 16.5 4.7 48.1
Germany Residential and commercial customers Industrial and corporate customers Distributors Total 27.5 40.8 56.6 124.9
Netherlands 35.9 56.5 0.0 92.4
UK 38.0 2.3 0.1 40.4
Others 1.1 13.1 2.2 16.4
Total 129.4 129.2 63.6 322.2
216
ORGANISATION
MARKET DATA
RWE Gas Downstream
Transmission and storage system in the Czech Republic at a glance

RWE Transgas headquarter
GERMANY POLAND
Gas transmission system Very-high pressure system Compressor station Border transfer station Inland transfer station
HPS Olbernhau
st n. Labem MTS Hora Sv. Kateiny
Hradec Krlov
Praha SF Hje HPS Waidhaus Plze CS Kouim
CZECH REPUBLIC
SB Lobodice
Ostrava SF Tanovice SF tramberk
Transfer and metering station Underground storage facility Headquarters of regional distribution companies
Brno CS Kralice CS Strovice CS Vesel n. L. CS Hostim esk Bud jovice SF D. Dunajovice CS Beclav SF Tvrdonice HPS Lanhot
SLOVAKIA
AUSTRIA
> In the Czech Republic, RWE holds the exclusive license for transmission and licenses for the storage and distribution of natural gas
217
ORGANISATION
MARKET DATA
RWE Gas Downstream
RWEs regional gas companies: Nationwide coverage in the Czech Republic

Majority owned by RWE
GERMANY POLAND
RWE ENERGIE PP ZP
VP
CZECH REPUBLIC
SMP
JMP JP
SLOVAKIA
AUSTRIA
> Total number of gas customers in 2011: approx. 2.0 million > Gas consumption in 2011 by segment: key account: 27%; business: 26%; retail: 47% > In 2010, RWE CZ entered the electricity market. Total number of electricity customers amounted to 130,000 in 2011
218
ORGANISATION
MARKET DATA
RWE Investor Relations
RWE AG Investor Relations contacts

RWE AG Opernplatz 1 45128 Essen Germany Contacts for Institutional Investors & Analysts
Dr. Stephan Lowis Head of Investor Relations Tel.: +49 201 12-15031 E-mail: stephan.lowis@rwe.com Martin Vahlbrock Tel.: +49 201 12-15055 E-mail: martin.vahlbrock@rwe.com Dr. Burkhard Pahnke Tel.: +49 201 12-15182 E-mail: burkhard.pahnke@rwe.com Jens-Philipp Briemle Tel.: +49 201 12-15106 E-mail: jens-philipp.briemle@rwe.com Gunhild Grieve Tel.: +44 207 015 5459 E-mail: gunhild.grieve@rwe.com Judith Heise Tel.: +49 201 12-15141 E-mail: judith.heise@rwe.com Vera Bcker Tel.: +49 201 12 15043 E-mail: vera.buecker@rwe.com
Contact for Private Investors

Cosima Bockelmann Tel.: +49 201 1215032 E-Mail: cosima.bockelmann@rwe.com
219

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Facts Figures 2012

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FACTS & FIGURES

RWE Facts & Figures | Updated September 2012

RWE Facts & Figures | Updated September 2012

Strategy & financing

RWE Facts & Figures | Updated September 2012

Strategy & financing

RWE Facts & Figures | Updated September 2012

ORGANISATION RWE in a nutshell

STRATEGY & FINANCING

RWE today: One of the leading integrated European utilities

Forecast average growth consumption in % p.a. (2011 2020)

ORGANISATION RWE in a nutshell

STRATEGY & FINANCING

RWEs customers as of 31 December 2011

RWE Facts & Figures | Updated September 2012

STRATEGY & FINANCING

The Executive Board of RWE AG

Dr. Rolf Martin Schmitz

Dr. Leonhard Birnbaum

Dr. Bernhard Gnther

Dr. Rolf Pohlig

RWE Facts & Figures | Updated September 2012

STRATEGY & FINANCING

The RWE Group

Germany Power Generation Sales/ Distribution Networks RWE Deutschland

Central Eastern and South Eastern Europe

Upstream Gas & Oil

RWE Supply & Trading

NET4GAS Gas transmission system operator in the Czech Republic (unbundled)

Internal services RWE Consulting RWE IT RWE Service RWE Technology

RWE Facts & Figures | Updated September 2012

STRATEGY & FINANCING

RWE Group structure: a mirror of the value chain

Gas and oil

RWE Supply & Trading

1 Gas transmission system operator in the Czech Republic (unbundled).

RWE Facts & Figures | Updated September 2012

STRATEGY & FINANCING

Germany: Power Generation (I)

RWE Facts & Figures | Updated September 2012

STRATEGY & FINANCING

Germany: Power Generation (II)

Power generation1 2011 (billion kWh)

Power plant new build project

Major power plants in Germany

1 Including minor capacities of the Sales/Distribution Networks business area.

STRATEGY & FINANCING

Germany: Sales/Distribution Networks (I)

RWE Facts & Figures | Updated September 2012

STRATEGY & FINANCING

Germany: Sales/Distribution Networks (II)

External electricity sales 2011 (billion kWh)

1 Households and small commercial enterprises.

Gas customers1 (thousand)

External gas sales 2011 (billion kWh)

Distributors Industrial and corporate customers

Residential and commercial customers

1 Households and small commercial enterprises.

STRATEGY & FINANCING

RWE Facts & Figures | Updated September 2012

STRATEGY & FINANCING

Essents major power plants (2012)

Hard coal Renewables (Biomass co-firing)

331 Bio-energiecentrale Cuijk Biomass, 25 MW