Appendices

(1)

(2)

2 Investor Day GDF SUEZ – November 26, 2008

Appendices - Contents

Business Lines Appendices

- Energy Europe and International Business Line

4 - Benelux/Germany Energy Division

5 - Energy Europe Division

8 - Energy International Division

11 - Energy France Business Line

20

(3)

BUSINESS LINES APPENDICES

(4)

BUSINESS LINES APPENDICES

GDF SUEZ

Energy Europe

and International

Business Line

(5)

Benelux/Germany

Energy Division

BUSINESS LINES APPENDICES

(6)

Benelux/Germany Energy Division

Gaz de France

SUEZ

Energy Supply

and Services

Energy Supply

and Services

Infrastructures

Benelux/Germany

Energy Division

Benelux/Germany

Energy Division

SUEZ

Energy

Europe

SUEZ

Energy

Europe

SUEZ

Energy

International

SUEZ

Energy

International

SUEZ

Energy

Services

SUEZ

Energy

Services

SUEZ

Environ-nement

SUEZ

Environ-nement

Exploration

-Production

Exploration

-Production

Purchase

and sales

of energy

Purchase

and sales

of energy

Services

Transmis-

_sion

Storage

Transmis-sion

Storage

Distribution

- France

Distribution

- France

Transmis-sion and

Distribution

-International

Transmis-sion and

Distribution

-International

Benedelux

D

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(7)

Structure

The division Benelux/Germany is active in

power generation

and

sales

of electricity, natural gas

and related services. These activities are

supported by

Trading and Portfolio management

on division and

Business line level.

Generation

Local Portfolio

Management

Local Portfolio

Management

Marketing

& Sales

Marketing

& Sales

Benelux/Germany

Energy Division

Benelux/Germany

Energy Division

(8)

Energy Europe

Division

BUSINESS LINES APPENDICES

(9)

Energy Europe Division

Gaz de France

SUEZ

Energy Supply

and Services

Energy Supply

and Services

Infrastructures

Energy Europe

Division

Energy Europe

Division

SUEZ

Energy

Europe

SUEZ

Energy

Europe

SUEZ

Energy

International

SUEZ

Energy

International

SUEZ

Energy

Services

SUEZ

Energy

Services

SUEZ

Environ-nement

SUEZ

Environ-nement

Exploration

-Production

Exploration

-Production

Purchase

and sales

of energy

Purchase

and sales

of energy

Services

Transmis-

_sion

Storage

Transmis-sion

Storage

Distribution

- France

Distribution

- France

Transmis-sion and

Distribution

-International

Transmis-sion and

Distribution

-International

Other Europe

Other

Europe

Other

Europe

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Energy Europe Division

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(10)

Electricity generation output

breakdown*: 27 TWh

* 2007 consolidated data

Natural gas

71 %

Coal

28 %

Hydroelectricity

1 %

(11)

Energy International

Division

BUSINESS LINES APPENDICES

(12)

Energy International Division

Gaz de France

SUEZ

Energy Supply

and Services

Energy Supply

and Services

Infrastructures

Energy International

Division

Energy International

Division

SUEZ

Energy

Europe

SUEZ

Energy

Europe

SUEZ

Energy

International

SUEZ

Energy

International

SUEZ

Energy

Services

SUEZ

Energy

Services

SUEZ

Environ-nement

SUEZ

Environ-nement

Exploration

-Production

Exploration

-Production

Purchase

and sales

of energy

Purchase

and sales

of energy

Services

Transmis-

_sion

Storage

Transmis-sion

Storage

Distribution

- France

Distribution

- France

Transmis-sion and

Distribution

-International

Transmis-sion and

Distribution

-International

North

America,

Latin

America,

Middle-East-Asia

North

America,

Latin

America,

Middle-East-Asia

International

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Energy International Division

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(13)

Zoom on Senoko

Key messages

Interesting asset combination with GDF SUEZ

position in Singapore LNG regas project

Attractive price of 1,106 SGD/MW against

1,573 SGD/MW paid for Tuas Power

(SGD4.2bn for 2,670 MW)

SGD2.9bn of bridge loan + SGD750m

repowering loan secured with 10 international

banks

Proportional consolidation

with 30% equity interest

Diversified output with limited exposure

to pool prices

– 40% vesting contracts (55% in 2008)

– 40% retail sales

– 20% pool sales

Value creation

• Expertise in liquid markets

• Ability to play “counter cyclical”

• Acquisition of 3,300 MW of installed power

capacity in Singapore

• Acquisition price: SGD3.65bn (€1.9bn)

• GDF SUEZ (30%), Marubeni (30%),

Kansai (15%), Kyushu (15%) and JBIC (10%)

• Date of first contribution: September 2008

• Acquisition of 3,300 MW of installed power

capacity in Singapore

• Acquisition price: SGD3.65bn (€1.9bn)

• GDF SUEZ (30%), Marubeni (30%),

Kansai (15%), Kyushu (15%) and JBIC (10%)

• Date of first contribution: September 2008

(14)

Zoom on First Light

Key messages

Limited number of creditworthy players

in the US market

Acquisition price well below replacement

cost for hydro plants alone

(estimated around 3,500 $/kW)

Mostly renewable with no direct exposure

to CO

₂

regulation

Location of assets within focus regions

for North America

$1bn non-recourse financing in place

- no need to refinance

Diversified revenue

– 50% by Energy

– 40% by Capacity Fees

– 10% by Ancillary Services

Value creation

• Expertise in liquid markets

• Ability to play “counter cyclical”

• Valuable resources (energy, capacity, & ancillary services)

• Acquisition of 16 operating plants

with a combined capacity of 1,538 MW

in New England (>80% hydro – pumped

storage)

• Plus another 537 MW of advanced

development projects

• GDF SUEZ 100% ownership

• Date of first contribution: 1

st

_{Quarter 2009}

• Acquisition of 16 operating plants

with a combined capacity of 1,538 MW

in New England (>80% hydro – pumped

storage)

• Plus another 537 MW of advanced

development projects

• GDF SUEZ 100% ownership

• Date of first contribution: 1

st

_{Quarter 2009}

Connecticut

Massachusetts

Rhode

Island

Shepaug Stevenson Falls Village Bulls Bridge Rocky River

Turners Falls No. 1 Northfield Mountain

Cabot

Robertsville Mt. Tom

Waterbury

Tunnel / Tunnel ICU Scotland

Taftville Bantam

Charbon Bureau central ***Stockage

par accumulation*** ***Polycarburant*** Hydroélectricité Pétrole

Opportunités de développement

(15)

Zoom on the Middle East

Recent large projects

Capacity

TIC

D/E

Financial

close

Energy

International

Equity

Marafiq

(Saudi Arabia)

2,745 MW

31,667m³/h

$3.4bn

82/18

June 2007

20%

$94m

Ras Laffan C

(Qatar)

2,730 MW

11,900m³/h

$3.8bn

83/17

September 2008

20%

$110m

Suweihat II

(UAE)

1,500 MW

18,900m³/h

$2.7bn

81.5/18.5

2009

40%

$195m

Al Dur

(Bahrain)

1,234 MW

9,092m³/h

$2.1bn

80/20

2009

50%

$200m

(16)

Zoom on Middle East

Key messages

All projects have secured fuel and offtake

agreements with creditworthy entities

Remuneration through equity return,

development and management fees

Equity consolidation and equity exposure

between 20 to 50%

Value creation

• Competitive advantages:

– Reputation from track record

– Local O&M synergies resulting from scale

– Synergies with SUEZ Environnement on desalination side

(17)

Business case: Peru

From single client plant toward diversified customer portfolio

and fuel mix

Lima

Ilo

Yuncan

Chilca

1997/8

2002

2004

2005

Acquisition of 245 MW

capacity in ILO

Acquisition of 245 MW

capacity in ILO

Step into gas business with 8% share in

TGP (Camisea pipeline) + greenfield gas

distribution concession in Lima

Step into gas business with 8% share in

TGP (Camisea pipeline) + greenfield gas

distribution concession in Lima

Acquisition of Yuncan

130 MW hydro plant and

entry of local pension funds

Enersur capital (21%)

Acquisition of Yuncan

130 MW hydro plant and

entry of local pension funds

Enersur capital (21%)

Start construction of ChilcaOne

173 MW gas fired power plant and

IPO of 17% of Enersur capital

Start construction of ChilcaOne

173 MW gas fired power plant and

IPO of 17% of Enersur capital

ILO 21 new 135 MW coal plant

enters in operation

ILO 21 new 135 MW coal plant

enters in operation

2000

Enersur starts

multi-client

program

Enersur starts

multi-client

program

2003

Commissioning of second unit

and construction of a third

unit Chilca

Commissioning of second unit

and construction of a third

unit Chilca

Commissioning of ChilcaOne

first unit and construction of

second unit

Commissioning of ChilcaOne

first unit and construction of

second unit

2006

2007

Sale of Calidda

gas distribution

Sale of Calidda

gas distribution

(18)

• 5,152 MW installed power capacity

• 6 to 7% annual growth rate

• 5,152 MW installed power capacity

• 6 to 7% annual growth rate

245

850 1,028

0

200

400

600

800 1000

1200

1998

2008

2009

+347%

Business case: ENERSUR

With proven value creation record

ENERSUR

M$

Total acquisition cost in 1997/8

56.5 1998-2005 dividends

58.9 Proceeds from 11/2005 offering

77.5 Market value of 62% stake

289.6 Key market figures

Total shareholder return

**(*)**

_{22.2 %}

(*)

_{Assuming full divestment at market price in Dec 2007.}

Source: GSELA AIFA: IRR3 in sale with taxes

MW

(19)

Business case: Gulf countries

Contribution from capital injected* in the region

*

_{Injected capital includes cash equity bridge loans and shareholder loans}

20

40

60

80

100

120

140

160

153

156

281

383

646

804

816

780

702

0

100

200

300

400

500

600

700

800

900 2004

2005

2006

2007

2008

2009

2010

2011

2012

$m

0

7

14

28

29

70

79 ₇₇

98

140 Al Dur

RLC

Shuweihat 2

AL HIDD

MARAFIQ

B2/RUSSAIL

GTTPC

AL EZZEL

SOHAR

UPC

(20)

Energy France

Business Line

BUSINESS LINES APPENDICES

(21)

Energy France Business Line

Gaz de France

SUEZ

Energy Supply

and Services

Energy Supply

and Services

Infrastructures

Energy France

Business Line

Energy France

Business Line

SUEZ

Energy

Europe

SUEZ

Energy

Europe

SUEZ

Energy

International

SUEZ

Energy

International

SUEZ

Energy

Services

SUEZ

Energy

Services

SUEZ

Environ-nement

SUEZ

Environ-nement

Exploration

-Production

Exploration

-Production

Purchase

and sales

of energy

Purchase

and sales

of energy

Services

Transmis-

_sion

Storage

Transmis-sion

Storage

Distribution

- France

Distribution

- France

Transmis-sion and

Distribution

-International

Transmis-sion and

Distribution

-International

Gas and electricity

supply

to BtoB and BtoC

customers

Power production

Energy services

for individual

customers

Gas and electricity

supply

to BtoB and BtoC

customers

Power production

Energy services

for individual

customers

D

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France

Energy France Business Line

S

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(22)

New segmentation

The Business line comprises:

• Entities that were formerly part of Gaz de France's Energy Purchases/Sales segment

– the Upstream Electricity Division, excluding electrical assets abroad (power plants in Teesside

(938 MW) and Shotton (215 MW) in the UK and Cartagena (1,200 MW) in Spain)

which were transfered to the Energy Europe and International Business Line - Europe Division

– the Sales Division

– the client services activities (Savelys, Solfea)

• Electrabel France and SUEZ Group's shareholdings in CNR (49.9%), SHEM (99.7%),

La Compagnie du Vent (56.8%) and Great (100%)

It is now comprised of five business units:

• Electricity production

• Energy management - France

• Supply of BtoB customers

• Supply of BtoC customers

• Energy services for individual customers

(23)

Electricity Production BU

Roles and key figures

Targeting operational excellence in using the unit's current assets

and expanding production capacities to reach 10 GW by 2013

0.0

2.0

4.0

6.0

8.0

10.0

12.0 2008

2009

2010

2011

2012

2013

Solar

Wind

Hydro

Thermal

Nuclear

(24)

Electricity Production BU

A leading player in renewable energy in France

GDF SUEZ owns the largest installed

fleet in France

• 337 MW in operation as at 30 Sept. 2008, i.e.

market share of about 10%

• 395 MW in construction or for which a non

recourse building permit has been obtained

GDF SUEZ owns a rich, diversified

development portfolio

• over 8 GW in wind energy development

allowing to reach 2 to 3 GW capacity by 2013

• about 150 MW in solar energy development

La Haute Lys (100%)

38 MW in operation

Nass & Wind (100%)

34 MW in operation

(o/w 6 MW for

Nass & Wind)

90 MW in construction

Great (100%)

10 MW in operation

Maia Eolis (49%)

78 MW in operation

72 MW in construction

Erelia (95%)

68 MW in operation

92 MW in construction

CNR (49.9%)

73 MW in operation

53 MW in construction

La Compagnie du Vent (56%)

105 MW in operation

125 MW in construction

(25)

Energy Management France BU

Roles and key figures

Optimize upstream electrical portfolio of the Group in France

Manage the supply of gas and electricity for the business line

Key figures

(est. 2008)

• 300 TWh of gas supplied

• 30 TWh of electricity supplied (own production, contracts and market)

Outlook:

contribute to the performance of the Energy France Business

Line targeting operational excellence and valuing a diversified

upstream portfolio

(26)

Supply of BtoB customers BU

Roles and key figures

Selling gas, electricity and services to business customers

and local communities.

Key figures

• About 1,100 employees

• 150 TWh of gas sold to 260,000 different sites in 2007

• 9 TWh of electricity sold to 110,000 different sites in 2007

• Well-known brands including Provalys and Energies Communes

Outlook

• Sustain our leadership in the supply of natural gas

• Expand sales of electricity and energy-related services to meet customers’

requirements

(27)

BtoC Sales BU

Roles and key figures

Selling energy and energy-related services to individual

and professional customers

Key figures

• About 2,500 employees

• 139 TWh of gas sold to 10.7 million customers in 2007

• As at 30 September 2008

– 10.1 million individual gas customers, 400,000 of which chose to pay market

prices; 300,000 individual electricity customers

– 300,000 professional gas customers, 80,000 of which chose to pay market

prices; 80,000 professional electricity customers

• A network of 3,500 partners

Outlook

• Sustain our leadership in natural gas supply

• Electricity market share: 20% in the medium term, depending on market

conditions

(28)

Volumes sold

In TWh

Natural gas sales

2007

H1 2008

Public Distribution

125

75 Market offering

0

1 BtoC customers

125

76 Public Distribution

96

52 Subscription tariff

24

13 Market offering

44

25 BtoB customers

164*

90 Total

289

166 * o/w 14 TWh sold by BtoC BU

Electricity sales

2007

H1 2008

Sales to customers

18

9 Market sales

13

10

(29)

Market share in terms of gas consumption

for France as at 30 June 2008

Breakdown by type of offer

Source: French energy regulation commission, French observatory of the

electricity and gas markets, H1 2008

Historic suppliers: include Gaz de France, Tegaz, local distribution companies and their subsidiaries.

A historic supplier is not considered as an alternative supplier outside of its historic service area.

14%

29%

9%

_1%

30%

55%

28%

3%

56%

16%

63%

96%

All sites

(517 TWh)

Non-residential sites

Transport (170 TWh)

Non-residential sites

Distribution (205 TWh)

Residential sites

(142 TWh)

Alternative suppliers - market price

Historic suppliers - market price

Contracts under regulated tariffs

(30)

A more favourable climate in Q3 2008

than in Q3 2007

Climate correction* in France

COLDER

WARMER

AVG. CLIMATE

* Distribution area: France

In TWh

-25.3

H1 2007

10.7 H2 2007

H1 2008

-7.7

1.2 Q3 2008

(31)

Energy services for individual customers BU

Roles and key figures

Providing individual customers with eco-comfort solutions in their homes, integrating Renewable Energy

solutions, and carrying out works associated with the thermal renovation of developed areas

Key figures

• Solfea bank

– 15,000 partner companies (business providers)

– 2/3 of loans issued are eco-loans for sustainable development or energy saving projects

– 50,000 loan applications per year

– 171,000 active clients

– 76 employees

• Savelys

– 1.5 million individual heating systems under contract

– No. 1 in heating system maintenance/repairs in France; No. 2 in Europe

– 4,200 employees

– 250 branches and satellite centres

– 90% residential, 10% service sector and merchants

– Breakdown of clientele: 47% individual customers, 47% group customers (public and private sectors),

6% small group heating systems (public and private sectors)

– 7 training centres to prepare 400 new heating system maintenance/repair professionals per year

• Climasave

– Specializing in the renovation of energy systems based on renewable energies