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1©SEP 2016. All Rights Reserved.

SEP Overview

1

2©SEP 2016. All Rights Reserved.

SEP Overview

Business strengths & proven track record

3©SEP 2016. All Rights Reserved.

Gateway to Pakistan, commercial and financial center of Pakistan

With the largest securities exchange in Pakistan and about 90% banks, financial institutions and multinational companies headquartered in Karachi

Significant GDP contribution to Pakistan

Gateway to China, Commercial and financial center of China

Shanghai Stock Exchange is the main marketplace of A-shares in China

Many Chinese banks, financial institutions and multinational companies headquartered in Shanghai

Pakistan

Karachi

Karachi Port

Oasim Port

Africa

Iran and Gulf Cooperation

Council

Arabian Sea Shanghai

The Yellow Sea

The East China Sea

China

Southeast Asia and Oceania

Japan and South Korea

Americas

India and Southeast

Asia

20.0mmPopulation

Overview

Geographic condition

Area

GDP per capita

as % of national

average

Similar coastal locations provide strategic advantage of economic development

388%

GDP US$134bn

24.3mm

6,341km2

263%

US$384bn

Karachi Shanghai

Karachi and Shanghai – commercial centers of the two countries

About 3,500 km2, power supply area of KE is about 6,200km2

4©SEP 2016. All Rights Reserved.

Listing & Unbundling

Key milestones – synchronized history of SEP and China’s electricity generation

。。。1882

1897

1935

1969

1992

2000

2005

2007

2009 2011

2013

The lighting of China’s first lamp, marking the prototype of SEP

The operation of first 8000 kw unit

The operation of first 300k kw unit

The first 9FA gas turbine unit (co-generation)

Huaihu coal-electricity integration project put into production

The operation of Tiantai Mountain wind power

The completion of Suqian PV project

Nanshi Power Plant – the first power company owned by Chinese

The operation of the first 125k kw unit

The operation of the first 600k kw unit

The operation of two 1m kw power plants in Caojing and won national high-quality project gold prize

Completed the acquisition of Luojing gas turbine and Changxing gas turbine power plant

Century-long history

In line with reform boom

2003

5©SEP 2016. All Rights Reserved.

SPIC is one of big five state-owned power producers in China

SEP is the core subsidiary of SPIC and has transparent corporate governance in place as a publicly listed company in China

SEP is rated BBB+/Baa2/BBB (Fitch/Moody’s/S&P)

SPIC’s key statistics of current underlying operations

Total installed capacity of 107GW, 40% from clean energy

Coal production capacity of 80mmtpa

China’s only integrated energy conglomerate engaged in the investment and operation of nuclear, traditional power and new energy assets

Presence in 36 countries, with businesses covering power project investment, technical cooperation, EPC and O&M, etc.

Acquisition of Pacific Hydro in December 2015, with hydro and wind generation assets in Australia, Brazil, and Chile

Moody’s / Fitch / S&P announced the award of an investment-grade international credit rating to SPIC in November, with a rating of A2/A/A-, respectively

Source: Company information. Bloomberg as of 1 Dec 2016

SASAC

China Power International Development

US$3.7bn

Shijiazhuang Dongfang Energy US$1.2bn

China Power New Energy Development US$700mm

Huolinhe Opencut Coal Industry Corp Ltd of Inner

MongoliaUS$2.1bn

US$2.7bn

Jilin Power Share US$1.3bn

SPIC Yuanda Environmental-

ProtectionUS$1.5bn

54.4%

55.4%

59.2%

43.6%

10.9%

42.3%

28.1%

100%

100%

Market cap

100%

6©SEP 2016. All Rights Reserved.

SEP Overview

Business strengths & proven track record

7©SEP 2016. All Rights Reserved.

SEP has a unique set of capabilities highly relevant to operating KE

Proventechnicalexpertise

Capability of operating large-scale plants to achieve industry-outperforming efficiency

Strong track record of consistently reducing emissions of dust, SO2 and NOx

Superior in-house O&M service capabilities

1

Excellent operation

track record

Solid experience in developing projects in China and overseas markets across coal, gas and renewable energy assets

Has largely in place a flat management structure and a “3-in-1”platform for overseas operations, an underlying PRO platform built with “Internet +” technological expertise, and a security system for overseas operations

3

Diverseinternationalexperiences

Presence in over 20 countries (including frontier markets such as Iraq and Tanzania)

Long-term committed strategy to invest in both developing and developed countries. Operates through 18 overseas project companies and departments, with dispatched workers up to 400 during the peak period

4

Strong financing capability

2 IG rating from domestic and top 3 international rating agencies, with US$500mm raised through offshore USD bond offering in 2015

Signed strategic partnership agreements with CHEXIMB, CDB and other major domestic and foreign banks as their premium client

Outstanding partner to Sinosure

8©SEP 2016. All Rights Reserved.

Proven technical expertise (1/2)1

Energy conservation Emission control

Caojing coal-fired project Tianji coal-fired project Caojing cogeneration project

Select projects that showcase our technical capabilities

313

298292 291

288284

2010年 2011 2012 2013 2014 2015

0.16 0.10 0.10 0.08 0.08 0.05

0.94

0.46

0.28 0.270.18 0.17

1.21.05

0.850.68

0.34 0.18

2010 2011 2012 2013 2014 2015

Dust

SO2

NOX

g/kwh g/kwh

2 x 1000 MW ultra-supercritical coal-fired units

Phase I of 2x600MW supercritical coal-fired units

Phase II of 2x600MW ultra-supercritical coal-fired units

2 GE 9FA CCGT gas-fired units

Total capacity of 658MW

Largest cogeneration plant in Shanghai, China

GE Best Performance Unit and Best Partner

World’s first ultra-supercritical coal-fired power plant with reheat π boiler with reheat temperature 623 degrees

Celsius

Power efficiency above 45%Superior emission control in caparison with gas-fired unit

9©SEP 2016. All Rights Reserved.

Proven technical expertise (2/2)1

In-house O&M capabilities

Name of project Location Fuel TypeInstalled capacity

(MW)

1Tianji Power Plant Phase 1 (Huaihu Coal & Power)

Anhui, China Coal Ultra-supercritical 1,320

2Tianji Power Plant Phase 2 (Huaihu Electric Power)

Anhui, China Coal Supercritical 1,260

3 Caojing Power Plant Shanghai, China Coal Ultra-Supercritical 2,000

4 Kanshan Power Plan Jiangsu, China Coal Ultra-Supercritical 1,200

5 Waigaoqiao Power Plant Shanghai, China Coal Subcritical 1,280

6 Wujing Power Generation Shanghai, China Coal Subcritical 600

7 Wujing Power Plant Shanghai, China Coal Subcritical 600

8 Caojing Cogeneration Shanghai, China Gas 9F 658

9 Baghdad plant in Iraq Iraq Oil Subcritical 2,540

10 Turkey Atlas Coal Power Turkey Coal Supercritical 1,200

11 Delimara 3 Malta HFO Diesel engine 149

Note: the list above only represents selected O&M projects, not the full list.

10©SEP 2016. All Rights Reserved.

Strong financing capability2

Received IG credit rating and completed US$500 offshore USD bond offering

In Jul 2015, Fitch, Moody’s and S&P published rating report on the Company. Fitch assigned long-term issuer rating of “BBB+”,“Baa2” and“BBB” to the Company . All three rating agencies assigned stable outlook on the Company

In August 2015, the Company successfully raised US$500mm through an offshore USD bond offering, which provides the Company a direct access to the offshore capital markets

The Company maintained the highest “AAA” domestic issuer rating with a stable outlook

Partner with financial institutions on a broader scale in the overseas markets to drive growth under a win-win situation

PRC banks provided strong financing support to fund SEP’s overseas expansion:

Signed Comprehensive Strategic Partnership Agreement with CDB, under which CDB will provide a maximum of US$10bn financing supports for SEP’s overseas projects

Signed Strategic Cooperation Agreement on Overseas Business Development with ICBC, under which ICBC will provide a maximum of RMB20bn funding for SEP’s overseas investments

Signed Strategic Cooperation Framework with BoC, under which BoC will provide a maximum of RMB20bn funding for SEP’s overseas investments

Signed Strategic Cooperation Framework with CCB, under which CCB will provide SEP a maximum of RMB30bn financing supports (including RMB15bn onshore lines of credit, and an equivalent of RMB15bn offshore lines of credit)

SEP is the outstanding partner to Sinosure

11©SEP 2016. All Rights Reserved.

Excellent track records in business development3

Leveraging SEP's strong project financing experience globally and its financing capacity to increase KE's funding resources to fund the future CapEx plan and reduce financing costs. The above table represents only selected projects, not the full list

Cutting-edge management philosophy and policy framework In respect of performance management, the Company has built a performance management system with EVA as the basis and KPI as the

assessment tool In respect of process management, we have a complete BPR process management system In respect of quality controls, we have a certified QHSE management system In respect of the development of the information system, the ERP system has been commissioned, and we have started on the development of

an “Internet+”PRO platform

Key power generation projects managed by the Company

Name of project Location Fuel TypeInstalled capacity

(MW)Project financing (c. %)

1 Waigaoqiao No.3 Power Plant Shanghai, China Coal Ultra-supercritical 2,000 80%

2 Waigaoqiao No.2 Power Plant Shanghai, China Coal Supercritical 1,800 80%

3Lingang Gas-fired Power Generation Shanghai, China Gas 9F 1,646 80%

4 Huaihu Electric Power Anhui, China Coal Supercritical 1,320 80%

5 Kanshan Power Plant Jiangsu, China Coal Ultra-Supercritical 1,200 80%

6Shanghai Minhang Gas Turbine Shanghai, China Gas 9F 908 80%

7Zhenhai Gas-fired Power Generation Zhejiang, China Gas 9F 789 80%

8Wanting Gas-fired Power Generation Jiangsu, China Gas 9F 780 80%

9 Wujing Power Plant Shanghai, China Coal Subcritical 600 80%

10 Wujing Power Generation Shanghai, China Coal Subcritical 600 80%

11 Montenegro Wind Power Montenego Wind N/A 46 70%

12 Japan Osaka Nanko Japan Solar N/A 2 80%

13 Japan Hyogo Sanda Japan Solar N/A 5 80%

14 Japan Ibaraki Tsukuba Japan Solar N/A 30 80%

15Japan Tochiki Nasukarasuyama Japan Solar N/A 48 80%

12©SEP 2016. All Rights Reserved.

Diverse international experiences4

Chile

Argentina

SEP actively explores overseas markets with existing presence in over 20 countries outside China

Focused on developing high-efficiency coal-fired power capacity in developing countries and low carbon clean energy in developed countries

By 2020, SEP’s investments in “One Belt One Road” regions are to account for over 70% of SEP’s total capacity

SEP’s geographical footprints

ChinaUS Montenegro

Turkey

Malta

Egypt

Tanzania

Mozambique

South Africa

Japan

Australia

Indonesia

Colombia

Bengal

Iraq

Equatorial Guinea

UK

Norway

Italy

Pakistan

Canada

Europe

13©SEP 2016. All Rights Reserved.

Case study: SEP has reduced T&D loss of Enemalta from 14% to 9% within 1 year since acquisition

Target overview

Acquisition of 33% stake in Enemalta(completed in Dec 2014)

Acquisition of 90% stake in Delimara 3, a 149MW power plant in Malta (completed in Dec 2014) and conversion of D3 from heavy fuel oil to gas

70% stake in a JV with Enemalta to develop renewable projects in European region with a portfolio of at least 100MW solar and 200MW wind power. Currently implementing Montenegro wind power project

30% stake in a JV with Enemalta focusing onenergy service to Europe, the Mediterranean, the Gulf countries and North African region

14%9%

Dec 2014 Dec 2015

-25% +62%

SEP successfully upgraded and expanded power transmission infrastructure. EMC won the 14th

Malta Industrial Excellence Award

Turned Enemalta from loss-making into profitability in 2015

SEP’s 1st project in Europe and platform for further expansion

Helped to upgrade Malta’s credit rating

As EPC contractor for the conversion of D3, SEP is qualified for EU Construction Standard

Malta’s state-owned energy company

Generation T&DHigh and low

voltage Services

Key achievements

1

2

3

4

T&D loss

Tariff reduction Grid stability