2014 Annual Results Presentation. March 2015 (0956.HK)

March 2015

(0956.HK)

The information contained herein has been prepared solely for use in this presentation. This document may contain time-sensitive information which is only current as of the date of publication. This presentation also contains statements that reflect the current beliefs, intent or expectation of the Company or its officers about the future as of the respective dates indicated therein. These forward-looking statements can be recognized by the use of words such as “expects”, “plan”, “will”, “estimates”, “projects”, “intends” or other words of similar meaning. These forward-looking statements are based on a number of assumptions about the Group’s operations and other factors, many of which are beyond the Company’s control and are subject to significant risks and

uncertainties, and accordingly, actual results may differ materially from these forward-looking statements. These forward looking statements are not a guarantee of the Group’s future performance. The Company assumes no obligation and does not undertake to revise forward-looking statements to reflect future events or circumstances. No representation, warranty or undertaking, express or implied, is made as to, and no reliance may be placed on, the completeness, accuracy, correctness or fairness of the information or opinions contained herein, nor is any responsibility accepted for any errors, misstatements, or omissions or any direct or consequential loss howsoever arising from any use of, or reliance on, this document or otherwise in connection with it.

This document is for information purposes only and does not constitute an offer to sell or issue or the solicitation of an offer to purchase or subscribe for any securities of the Company or any holding company or any of its

subsidiaries in any jurisdiction or an inducement to enter into any investment, nor may it or any part of it form the basis of or be relied upon in connection with any contract or commitment whatsoever.

Disclaimer

Agenda

1. 2014 Annual Results Overview

2. Business Overview

3. Financial Highlights

4. Outlook

Operating Environment of the Natural Gas Industry

Natural Gas Industry’s Operating Environment in 2014

5

The government had intensified air pollution management, and pushed for the replacement of coal with clean energy, such as natural gas. However, driven by gas price reform, lower economic growth and falling oil price, the growth of gas consumption declined

China’s consumption of natural gas was 178.6 Bn cubic meters in 2014, up 5.6% from the previous year

To increase gas supply, improve efficiency in gas use and allocate resources reasonably, and according to the target of applying the same system for existing gas and new additions, the NDRC issued in August 2014 the “Notice on Adjusting Price for Existing Non-residential Natural Gas”, raising city gate price cap for existing non-residential gas by RMB 0.4 per cubic meter while keeping that for new additions unchanged. This regulation came into effect on September 1, 2014

On February 28, 2015, the NDRC announced that starting April 1 city gate price cap for new gas additions will be lowered by RMB 0.44 per cubic meter while the cap for existing gas will be raised by RMB 0.04 per cubic meter, achieving price consolidation and uniform non-residential natural gas price

Operating Environment of the Wind Industry

Wind Industry’s Operating Environment in 2014

6

In 2014, China’s wind industry continued to grow strongly, with a record 19.81 GW installed capacity added. On-grid installed wind capacity reached 96.37 GW, accounting for 7% of China’s total installed capacity and 27% of global installed wind capacity. Annual average utilization was 1,893 hours

In 2014, Hebei added 1.38 GW on-grid installed capacity, raising its total on-grid capacity to 9.13 GW, up 17.8% YoY; Annual average utilization was 1,896 hours, down by 125 hours from a year ago

In June 2014, the NDRC issued the “Notice on the Policy for On-grid Tariff of Offshore Wind Power”, setting prices for offshore wind projects not subject to the bidding process and put to operation by 2017. The tax-inclusive on-grid tariff is RMB 0.85 per kWh for offshore projects and RMB 0.75 per kWh for intertidal projects On December 31, 2014, the NDRC issued the “Notice on Adjusting Benchmark On-grid Tariff for Onshore Wind Power”, lowering RMB 0.02 per kWh of the benchmark on-grid tariffs for wind projects in Type I, II and III

2014 Annual Results Overview

Other Renewable

Energy

Newly-added Laiyuan Jinjiajing 10 MW solar power station, and accumulated 31 MW of solar power station projects are operational

Newly-added solar power projects with 1,888 MW of resource contract capacity, and accumulated solar power contract capacity of 3,269 MW; newly-added approved capacity of 49 MW, and accumulated approved capacity of 80 MW

Wind Power

Newly-installed capacity was 251.5 MW and consolidated installed capacity of the wind farms was 1,696.8 MW in 2014; 6 projects are under construction, with a total capacity of 548.5 MW

Total power generation reached 2.740 TWh in 2014, 6.4% decrease from last year; average utilization hours reached 1,996, decreasing 316 hours over the previous year; average utilization rate reached 97.8%

Newly-added approved capacity of 1,441 MW, among which Type II resource area 995.5 MW, Type III resource area 50 MW, Type IV resource area 395.5 MW, and accumulated approved capacity(to be constructed) was 1,826 MW.

Natural Gas

Annual gas sales in 2014 reaching 1.523 billion cubic meters, increasing 2.7% year on year Added 590 km of city gas pipelines in 2014. As of the end of 2014, total length of natural gas pipelines in operation reached 1,713.5 km, including 550 km of long-distance pipelines and 1,163.5km of city gas pipelines

Newly-added 1 CNG primary filling station and 2 CNG refilling stations into operation; 2 CNG

primary filling stations, 4 CNG refilling stations and 1 LNG refilling station have completed; as of end of 2014, there are a total of 2 CNG primary stations and 1 CNG main and sub-stations and 4 CNG sub-stations

Newly-added Liaoning Huludao gas market outside of Hebei; within the province, have completed many acquisitions Pingshan, Anguo, etc; city gas business has presence in 25 regional markets

62 69 40 60 80 2013 2014 757 839 500 700 900 2013 2014 665 615 400 600 800 2013 2014 +7 million m³ +11.3% -50 million m³ -7.5% +82 million m³ +10.8% 51.0% 55.1% 44.8% 40.4% 4.2% 4.5% 1,484 1,523 0 200 400 600 800 1,000 1,200 1,400 1,600 2013 2014 Wholesale Retail CNG (million m³)

Natural Gas Business Grew Steadily

Steady Growth of Sales Volume

+39 million m³ +2.7%

Natural Gas Sales Volume

(million m³) Wholesale (million m³) Retail (million m³) CNG 9

Overview of Natural Gas Business (cont'd)

10

Pipework for ten counties in middle Hebei Province (Phase I) and Chengde gas utilization (Phase I) are partially in operation

Licheng-Shahe CBM Pipeline project has completed 71 km

The construction of Shahe natural gas liquification project is going smoothly, expect to complete in 2015

Newly added 590 km of natural gas pipelines. As of end of 2014, the Group’s total length of pipelines in operation reached 1,713.5 km, among which 550 km are long-distance pipelines and 1,163.5 km of city gas pipelines Actively Promote the Construction of Natural Gas Projects

Locations of Suntien’s Natural Gas Assets

Zhuozhou- Handan long-distance transmission pipeline Gaoyi-Qinghe long-distance transmission pipeline Beijing Handan Development Zone Shaanxi-Beijing Gas Pipeline No. 1

Zhuozhou

Shahe Shijiazhuang

Luquan

Shaanxi-Beijing

Gas Pipeline No. 2 Gaocheng

Baoding Dingzhou Tianjin Ningjin Qinghe Laoting Xinji Shenzhou Jinzhou Laiyuan

Shijiazhuang Economy Development Zone Southern Shijiazhuang

Shanqian Industrial Zone

Changli Feixiang Xinhe Nangong Gaoyi Hebei Province Dacaozhuang Management Zone Licheng CBM Pipeline Chifeng Ximeng Miyun Datang Keqi Baoding Development Zone Anping Pingquan Luanping Chengde Lulong

City Gas Project

Long-Distance Transmission Pipeline

Linxi Anguo XinXian

Overview of Natural Gas Business (cont'd)

Locations of Suntien’s CNG / LNG stations

City Gas Project CNG primary station

CNG refilling station

pending CNG primary station

pending CNG refilling station Pending LNG refilling station

Newly added 1 CNG primary filling station and 2 CNG refilling stations into operation

2 CNG primary filling stations, 4 CNG refilling stations and 1 LNG refilling station have completed

10 projects are under construction, and 8 projects are preparing to begin construction As of end of 2014, there are a total of 4 CNG refilling stations, 2 CNG primary stations and 1 CNG main and sub-station

The construction of Shahe natural gas LNG processing is going smoothly, expect to complete in 2015

Expanding CNG / LNG refilling business

11 Beijing Handan Development Zone Shaanxi-Beijing Gas Pipeline No. 1

Zhuozhou

Shahe Shijiazhuang Luquan

Shaanxi-Beijing Gas Pipeline No. 2

Gaocheng Xintai Baoding Dingzhou Tianjin Ningjin Qinghe Laoting Xinji Shenzhou Jinzhou Laiyuan

Shijiazhuang Economy Development Zone Southern Shijiazhuang Shanqian Industrial Zone Changli Feixiang Xinhe Nangong Gaoyi Hebei Province

Dacaozhuang Management Zone Licheng CBM Pipeline Chifeng Ximeng Miyun Datang Keqi Baoding Development Zone Chengde Shuangluan district Anping Pingquan Luanping Chengde Lulong 安平

Shahe CNG primary & refilling station

Shijiazhuang CNG primary station Changde Xiao Taiyanggou CNG refilling station

Handan CNG refilling station

Changde CNG primary station Pingquan CNG refilling station

Baoding CNG primary station Laiyuan CNG refilling station

Luanping CNG refilling station Luanhe power plant LNG station Dongguo CNG refilling station

Qinghe CNG primary & refilling station Jinzhou CNG refilling station x 2

Xinji CNG refilling station Ningjin CNG primary &

refilling station Gaoyi Chengdong LNG/CNG combine station

Shahe LNGstation x2 Neiqiu CNG、LNG primary & refilling station

The gas project in Chengde has completed infrastructure construction, and the Datang Keqi coal-to-gas project began to carry in pipeline gas at the end of 2014 We obtained documents for gas source outlet from SinoPec, and SinoPec has started site renovation

Caofeidian LNG Terminal Project in Tangshan, 20% owned by the Group, officially launched in December 2013, and contributed profits of RMB29 MM in 2014

Overview of Natural Gas Business (Cont’d)

Added 68 industrial users, raising our total industrial users to 375; added 18,538 residential users, up 28.5% from the previous year, putting total residential users at 83,552

Newly-added Liaoning Huludao gas market outside of Hebei; within the province, have completed many acquisitions in Pingshan, Anguo, etc; city gas business has presence in 25 regional markets

The NDRC issued in August 2014 the “Notice on Adjusting Price for Existing Non-residential Natural Gas”, raising city gate price cap for existing non-residential gas by RMB 0.4 per cubic meter while keeping that for new additions unchanged. This regulation came into effect on September 1, 2014

On August 22, 2014, the Price Bureau of Heibei Province issued the file for price adjustment. Our average purchase price hike was RMB 0.29 per cubic meter for the year. As of now, the Group’s pass-through initiative has mostly completed in each of its markets

Expansion of Upstream Infrastructure Portfolio Rapid Growth in Downstream Gas Sales

Price Adjustment Successfully Executed

2,927 2,740 0 400 800 1,200 1,600 2,000 2,400 2,800 3,200 2013 2014 1,445.3 1,696.8 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 2013 2014 (MW) (GWh)

Overview of Wind Power Business

Installed Capacity Continue to Increase; Power Generation Maintain Stable Growth

+251.5 MW +17.4%

-187 GWh -6.4%

Consolidated Installed Capacity Consolidated Power Generation

97.5 97.8 90 92 94 96 98 100 2013 2014

Overview of Wind Power Business (cont'd)

All Wind Farms Maintain Healthy Operation; Regional Tariff Remains Stable

(%)

Availability Factor (1)

(Hour)

Average Utilization Hours

(RMB /kWh)

Average On-grid Tariff (Including VAT)

1 Calculated as (total hours – downtime due to any equipment failure in the wind farm) / total hours *100%

2,312 1,996 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 2,000 2,200 2,400 2013 2014 0.546 0.542 0.0 0.1 0.2 0.3 0.4 0.5 0.6 2013 2014 +0.3 Percentage point RMB -0.004 -316 hours 14

Newly-added 251.5 MW installed capacity in 2014. As of the end of 2014, consolidated wind power capacity increased to 1696.8 MW, and the accumulated attributable installed capacity reached 1,544.1 MW 6 wind farm projects are under construction, with a total capacity of 548.5 MW

Newly-added approved capacity of 1,441 MW, among which Type II resource area 995.5 MW, Type III resource area 50 MW, Type IV resource area 395.5 MW, and accumulated approved capacity (to be constructed) was 18,26 MW

Tangshan Laoting Putidao offshore wind power 30 MW demonstration project began construction in the first half of 2015. Based on “Notice on the Policy for On-grid Tariff of Offshore Wind Power” issued in June 2014, this

project has a tax-inclusive tariff of RMB 0.85 per kW Based on “Plan to Develop National Offshore Wind Power (2014-2016)” issued in December 2014 by the National Energy Administration, Tangshan’s offshore wind power phase II project (200 MW) has been added to construction plan

Overview of Wind Power Business (cont'd)

Locations of Suntien’s Wind Farms

Haixing Wind Farm

Weichang Yudaokou Muchang Wind Farm and Chengde Ruyihe Wind Farm Kangbao Wolongshan

Wind Farm and Kangbao Sanxiatian Wind Farm Dongxinying Wing Farm Zhangbei Caoniangou Wind Farm

Wind farm with controlling stake

Wind farm with minority stake Yuxian Baiyantuo

Wind Farm Shanxi Lingqiu Baicaowan Wind Farm and Hanfengling Wind Farm;

New Added: Ruoqiang Luobuzhuang Phase Ⅰ

Yuxian Kongzhong Caoyuan Wind Farm Phase

ⅠandⅡ

Yuxian Dongdianziliang Wind Farm, Chashan Wind Farm, Yongshengzhuang Wind Farm and Lihuajian Wind Farm

New: Dong Xing He Wind Farm

Chongli Jiaocheshan Wind Farm Chongli Qingsanying

Wind Farm Phase

ⅠandⅡ

Zhangbei Daxishan Wind Farm

Guyuan Langweibasha Wind Farm and Guyuan Wuhuaping Wind Farm

Wind farm operated through joint equity Laiyuan Dontuanbao Wind Farm

New: Huang Hua

Liang Wind Farm Hebei Province

Overview of Wind Power Business (cont'd)

Highest Newly-Added Approved Capacity in 2014

（MW）

Newly-Added Approved Capacity

295.5 298.5 884.0 1,441.0 0 200 400 600 800 1,000 1,200 1,400 1,600 2010 2011 2012 2013 2014 16

660 646 799 ₆₅₀ 1,459 1,296 31.3% _25.2% 0 25 50 0 1,000 2,000 2013 2014

Natural Gas Wind Power EBITDA Margin

(RMB MM) (RMB MM)

Revenue and Profit Continued to See Stable Growth

(Margin %)

1 Including other revenue such as CER revenue, VAT refund, and bank interest income, excluding share of profit from associates 2 Sum of two segments is after inter-company elimination and excluding share of profits of associates

Revenue Gross Profit

(RMB MM) (RMB MM) (Margin %)

Operating Profit(2) _EBITDA(1) (2)

(Margin %) 18 71.4% 75.8% 28.6% 24.2% 4,661 5,149 0 3,000 6,000 2013 2014

Natural Gas Wind Power

551 548 705 ₅₆₅ 1,216 1,092 26.1% 21.2% 0 25 50 0 700 1,400 2013 2014

Natural Gas Wind Power Operating Margin

622 625 1,181 1,083 1,767 _1,690 37.9% _32.8% 0 30 60 0 1,000 2,000 2013 2014

547.6 548.3 16.5% 14.0% 0 10 20 30 0 300 600 900 2013 2014 (RMB MM) (RMB MM)

Steady Growth in Natural Gas Business

(Margin %)

1 Including other revenue, but excluding share of profit from associates

Revenue Gross Profit

(RMB MM) (RMB MM) (Margin %)

Operating Profit EBITDA(1)

(Margin %) 19 3,327.5 3,903.4 0 2,000 4,000 6,000 2013 2014 619.2 624.5 18.6% _16.0% 0 15 30 0 400 800 2013 2014 659.8 _645.6 19.8% 16.5% 0 15 30 0 400 800 2013 2014

Analysis of After-Tax Profit of Natural Gas Business

COGS and D&A Increase Earnings from Equity Stake Business Interest Expense Increase Decrease in Tax Expense Other Expense Decrease Other Revenue Increase 2014 After-Tax Profit

(RMB MM) (RMB MM)

Wind and Solar Power Businesses

(Margin %)

1 Including other revenue such as CER revenue, VAT refund, and bank interest income, excluding share of profit from associates

Revenue Gross Profit

(RMB MM) (RMB MM) (Margin %)

Operating Profit EBITDA(1)

(Margin %) 21 1,332 1,246 0 800 1,600 2013 2014 798.7 650.3 59.9% 52.2% 0 40 80 0 400 800 2013 2014 704.8 565.1 52.9% 45.3% 0 40 80 0 400 800 2013 2014 1,181 1,083 88.7% 86.9% 0 60 120 0 650 1,300 2013 2014

Analysis of After-Tax Profit of Wind and Solar Power Businesses

2013 After Tax Profit Revenue Decrease COGS and D&A Increase Interest Expense Increase Tax Expense Increase Other Expense Decrease

Stable Capital Structure

(%) (RMB MM)

Net Debt / Total Asset 2014 Net Debt Breakdown(1)

(x) (x)

Interest Coverage (EBITDA / Total Interest Expense) Net Debt / EBITDA

1 Net Debt = Interest bearing debt - Cash and cash equivalents

23 49.6 44.8 0 20 40 60 2013 2014 1,730 9,296 3,167 7,859 0 2,500 5,000 7,500 10,000 12,500

ST Loans LT Loans Cash Net Debt

4.1 4.7 0 2 4 6 2013 2014 4.2 3.5 0 2 4 6 2013 2014

2015 Development Goal

Sensibly Plan and Distribute Natural Gas Projects

In 2015, we will keep focusing on natural gas, wind power, solar power and other clean energy, further improving business structure, accelerating project construction process, promoting the approved

projects get into operation at the early time, continuously improving management and maintenance skill, laying a solid foundation for the next phase growth of the group.

The Group will overcome stress from economic slowdown and decreased prices of alternative energies such as coal and develop pipeline transportation, city gas and CNG/LNG segments, to ensure the sound development of natural gas business Long-distance pipeline projects:

1) Accelerate the interconnection of Gaoqing Pipeline, Jizhong 10-county pipeline network (Phase I) project and Sinopec’s pipeline network

2) Complete Hebei ten counties pipeline network (Phase II) project approval, and aim to begin construction within the year 3) Accelerate the construction of Shanxi Licheng-Hebei Shahe coalbed methane (CBM) pipeline project

City gas:

1) Develop potential markets and high-quality clients to improve retail client structure 2) In-depth development of city gas markets within the jurisdiction of city pipeline network

3) Aggressively expand gas markets inside and outside Hebei province through asset and equity acquisitions CNG/LNG：

1) Accelerate CNG construction, and seek to complete 3 primary filling stations and 2 CNG/LNG stations within the year 2) Strengthen external cooperation by acquiring existing projects to improve CNG/LNG project distribution

2015 Development Goal (Cont’d)

Steadily Promote Wind Power and Solar Energy Project Development and Construction

The Group will properly allocate resources and actively promote the infrastructure work of wind power projects approved by end of 2014, in order to implement such projects asap. It will also continue to reinforce resources reserve.

Accelerate construction progress of the Group’s approved wind power projects in Weixian and Chongli of

Zhangjiakou, Fengning of Chengde, Lingqiu of Shanxi, Ruoqiang of Xinjiang, Jianshui of Yunnan and Ju’nan of Shandong

Continue to promote the approval process of wind power projects in Hebei province, and develop wind power projects in Yunnan, Guangxi, Jiangxi and other areas outside of Hebei with superior resources

Steadily promote the infrastructure work of offshore wind power project in Putidao in Tangshan Laoting. The 30 MW demonstration project start construction in 2015. The Group will strive to achieve grid-connected power generation as soon as possible

Focus on ground-based photovoltaic power stations and also take into account large distributed power stations. Expand available resources and develop photovoltaic projects in many ways

26

In 2015, we will keep focusing on natural gas, wind power, solar power and other clean energy, further improving business structure, accelerating project construction process, promoting the approved

projects get into operation at the early time, continuously improving management and maintenance skill, laying a solid foundation for the next phase growth of the group.

2015 Development Goal (Cont’d)

Diversify Financing Channels

Leveraging on state policies of controlling air pollution and developing clean energy, the Group will continue to focus on natural gas and wind power businesses. In the meantime, it will develop other clean

energy projects to diversify its clean energy portfolio

Analyze macroeconomic situation and interest rate trend, and issue low-cost debt financing instruments at a proper time

Leverage the platforms of Hong Kong and Shenzhen affiliates to gain larger amount of low-interest offshore loans

Continue to strengthen cooperation with domestic and overseas banks to seek low-interest credit facilities