April, 2016

Company Overview

2

Content

1. Company overview

2. Organization structure

3. Business Areas

4. ROTEC as EPC contractor

5. Appendix

3

Terms

3

• CCGT — combined cycle gas turbine

• CCP — combined cycle plant

• CCPP — combined cycle power plant

• CCGT — combined cycle gas turbine

• CHP(P) — combined heat and power (plant)

• GT – gas turbine

• FTE — Full Time Equivalent

• ISP – independent service provider

• JV — joint venture

• Renewables — renewable energy sources

• SC — super capacitor

• SPP — steam power plant

• ST — steam turbine

• ОЕМ — Original equipment manufacturer/a company that provides maintenance services for the equipment it manufactures.

• UTW— CJSC «UTW», Ural Turbine Works

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ROTEC is diversified industrial company specialized on manufacturing and servicing of power gas and steam turbines

• 8 153 mln RUB – Revenue 2015

• 20% - revenue 4-year CAGR

• ~ 1 800 - number of employees

• Offices in 4 locations

• 2,4 GW – installed capacity

• 25 gas turbines under LTSA, 21% GT service market share

• 27% share of current Russian steam turbine fleet

Business overview

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ROTEC – manufacturing

JSC ROTEC is a Russia’s leading manufacturer of steam turbines.

JSC ROTEC is Russia’s leading business in comprehensive engineering support for imported high-output gas-turbine units.

JSC ROTEC has accomplished technology transfer program with Sulzer Co.

The Company has established Russia’s first Center for Remote Monitoring and Prognostics of Power Generation

Equipment, using proprietary software and control algorithms.

JSC ROTEC is implementing its Investment Project to localize restorative production of components for gas turbine hot

duct, using the technologies received from foreign-based Sulzer and Oerlikon, with Renova Group as the strategic investor.

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Main Business Areas

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ST manufacturing and modernization

GT service 2

3 New businesses

• Founded in 1938 • UTZ was acquired in 2010 and turned into a profitable asset • Market leader in T type STs with major success in 80 – 120 MW • Also produces blades, heaters and condensers

• Established in 2010 • One of the market leaders in Russia • Fully localized value chain and field service • First in Russia certified remote monitoring services

High-tech greenfield projects - add-on and new businesses in the field of: • Industrial engineering (JV with AKKA), • Utilities (Energy Transfer), • Coating solutions (Cortice) • Energy storage systems (TEEMP)

14.5% 26% 6.1 bln.

RUB

REVENUE

EBIDTA MARGIN

RUSSIAN MARKET SHARE

2015

ROTEC has strong presence in two segments with further development potential in other segments

1

14.0% 21% 2.3 bln.

RUB

7

Dynamic growth

Financials, mln Rub ROTEC EBITDA margin

4 165 5 228

6 140

4 416

733

751

2 316

3 421

2013

UTW revenue

5 979

ROTEC revenue

2012

4 898

8 456

2014 2015

+20% 8153

Financials, mln Rub

Comments

• For the last 4 years ROTEC successfully developed his competences wherever there was a gap in product line (field service operations, remote monitoring and prognostics)

• UTW was turned from a loss-making company into one of the leading companies in its markets of presence with healthy margins and strong backlog of orders

• In terms of the competences UTW has developed a strong engineering bureau and sales function (changed the sales model from distributor to direct client communication)

• Due to cyclical nature of UTW business there is revenue decline in 2014-2015 that will be compensated in 2016-2017

0% 3% 14% 12%

UTW EBITDA margin

13% 14% 14% 12%

ROTEC and UTW grew rapidly for the last 5 years – currently about 8 bln RUR in revenues expected for 2015

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Content

1. Company overview

2. Organization structure

3. Business Areas

4. ROTEC as EPC contractor

5. Appendix

9

Renova Group of companies is a leading, international, private business group that consists of asset management companies and direct and portfolio investment funds owning and managing assets in the metals, mining, chemical, construction, transport, energy, high-tech machine building, telecommunication, public utilities and financial sectors in Russia and abroad (CIS, Switzerland, Italy, South Africa and USA).

Organization structure: Part of RENOVA group

RENOVA

ROTEC

Coating Solution Center

URAL TURBIN WORKS

TEEMP

OERLIKON SULZER

Power Engineering

Petrochemical Sector

Biotechnology Industry

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Organization structure: Leadership ROTEC-UTW

10

Op

era

tio

nal

man

age

me

nt

GM of ROTEC Panasyuk Ivan

CEO of UTW Sorochan Igor

Director on GT-service Spiridonov Yury 25 years in power industry

Deputy CEO on production Kozyrev Arkady 15 years in power industry

Deputy CEO on sales& marketing Starshinova Olga 35 years in power industry

CTO Valamin Alexandr 24 years in power industry

CFO Spesivtsev Victor 15 years in power industry

Legal director Schirova Julia MBA

Deputy CEO on Sales Tomilov Alexandr MBA, 18 years in power industry

CFO Nikonov Dmitry 16 years in power industry

Management levels

Board of directors

11

LLC “Rotec-GT”

Head-office (Moscow) Technical support and

engineering (St.-Petersburg)

Refurbishment center and mech. treatment

(Ekaterinburg)

105

• Sales & Marketing,

tenders;

• Project management;

• Procurement & logistics;

• Procurement of the UTZ

steam turbine

components

• Remote monitoring

system;

• Administration

• Technical support;

• Warehouse management;

• Tool management;

• Development of technical

documentation;

• HSE

Foundry

• Power GT components

manufacturing;

• Power GT components

repairing.

FTE Total FTE/ existing FTE

23 17 65

33/0

• LLC “Rotec-GT”, fully

controlled by Rotec

(100% stake) to be

created

• LLC “Rotec-GT” get a

loan from the bank.

• All cash flows of

“Rotec-GT” will be

transacted by the

bank.

• All current contracts –

remain in ROTEC

• Production assets of

“Rotec-GT” will be

pledged as collateral.

• All service function

(except production) –

in “Rotec-GT”

Organization structure: ROTEC-GT

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Content

1. Company overview

2. Organization structure

3. Business Areas

4. ROTEC as EPC contractor

5. Appendix

13

Areas of activity: Main directions

Steam turbines Designing, manufacturing, service, modernization

Diagnostics Technical audit, comprehensive diagnostics and energy efficiency assessment of rotary equipment

Mass transfer equipment Engineering technology solutions for mixing and separation systems

Coatings Surface treatment and application of protective coatings

Gas turbines Service, gas turbine parts manufacturing

Engineering Engineering and construction at the power, engineering, automotive and aerospace industries

EPC Contractor Experience in Construction Well-established general

contracting work management structure

Experience in Engineering Experience of foreign projects

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Areas of activity: Target directions

ROTEC 2025

EXPANSION

• Geographical markets

• Foreign EPC projects

DIVERSIFICATION

• New segments

• New markets B

USI

NES

S SC

ALE

STEA

DY

BU

SIN

ESS

LOW LEVEL OF CYCLICITY

STRONG IVESTMENT RATIONALE

TECHNOLOGY INDEPENDENT

ROTEC should use two main levers to fuel its further growth

Implementation of new foreign projects as EPC contractor – is ROTEC key priority

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Content

1. Company overview

2. Organization structure

3. Business Areas

4. ROTEC as EPC contractor

5. Appendix

16

ROTEC as EPC Contractor

1. Why “ROTEC”?

2. Provision of technical customer/customer's engineer services

3. ROTEC's competencies

4. ROTEC's experience in cooperation with foreign companies

5. Experience of participation in large-scale projects:

• Renova R&D

• Mongolian CHPP

• Kazan CHPP-3

6. Implementation of projects in Russia

General contracting and technical customer/customer's engineer services — are the main activity fields of JSC "ROTEC"

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Why “ROTEC”?

Well-established general contracting work management structure Experienced and professional staff with good internal coordination

Experience in the implementation of EPC projects in Russia and other countries Large amount of implemented projects of CHP and Combined Cycle Gas Turbine

The presence of the contractor's own industrial structure, which is a component of the project

Ural Turbine Works produces steam turbines, gas turbines components and mass-exchange equipment

Experience of working abroad, organized system of customs logistics

Knowledge of procedures and formats to work with international projects Performed projects in 14 foreign countries

Availability of human resources staff, who speak English and French Experienced high-professional international class specialists in each area

Availability of international business partners, which allows to form a consortium to solve problems of any complexity

Were implemented a number of projects in collaboration with foreign manufactures and engineers

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Provision of technical customer engineer services

Main general contracting services:

Selection of suppliers and conclusion of contracts with sub-contractors for work performance and construction materials & equipment supplies

Provision of all necessary construction materials

Assuring compliance with the requirements of the government supervision authorities

Technical supervision over construction works and assuring correspondence between cost and quality of works

Provision of complete information about the progress of construction works to the customer at any work stage

Deadline management according to the construction schedule

Re-approval of time and stages of construction works

Assuring compliance with the industrial safety and labour protection requirements

Handover of construction facility to the customer on turnkey basis

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Implementation of the projects for construction of modern electricity-generating plants — is one most challenging tasks in today's global engineering

ROTEC is competent in this field, including innovative approach to the gas & steam turbine servicing, as well as to the development of automatic process control systems and monitoring & diagnostic systems.

The company also coordinates manufacture and supply of the equipment for construction and modernization of these power plants.

Shortcut overview

ROTEC provides construction and technical supervision for

9 electricity-generating plants.

Total amount of investments — 3 bln. $

Total power capacity of power units will amount to 2.4 GW.

ROTEC's competencies

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• Sulzer Turbo Services – maintenance services of gas turbines.

• Volume of orders in the Russian Federation — more than 200 mln. €.

• Sulzer Turbo Services – sub-contractor for repair technologies.

• ROTEC – general contractor, site management, documentation, logistics, human resources.

• Sulzer Metco – supplier of solutions for surface treatment and coatings.

• ROTEC – promotes technologies in Russia. The company implements the Coatings Center construction project, for which Sulzer Metco supplies its technologies and provides instructions for their introduction .

• Sulzer Pumps – pumping equipment.

• ROTEC – joint modernization and repair of pumping and flow-through equipment in Russia and CIS countries.

• Oerlikon – creation of production facilities for manufacturing thin-film photo converters based on the production line of Oerlikon Solar (Switzerland).

• Basic engineering – Oerlikon.

• All other works – Russian companies.

ROTEC's experience in cooperation with foreign companies

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• Amount of investments — more than 100 mln. $.

• The project is being implemented at the territory of Skolkovo Center.

• Total area of the construction site — 26 304 sq.m.

• Variable number of floors in the building (from 3 to 5 floors)

Distinctive features of this facility:

1. Designing of the whole building for Renova Lab and, in particular, the utility systems is being performed with taking into account LEED-certification of this facility in the future.

2. Solar power plants are provided for lighting system. Heating system includes heat pumps with underground probes.

3. A number of research areas require a certain level of cleanness for the rooms, which is regulated by the standard ISO-14644-1. In this project the microelectronics laboratories are comply with cleanness level 6 and 7, and chemical and biochemical laboratories comply with cleanness level 5.

Experience in large-scale projects: R&D building in Skolkovo

Activities as technical customer for construction of the Renova R&D building in Skolkovo

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• Amount of investments into the project — more than 50 mln. $

• Increase of electricity output from the CHPP by 25%, and heat output — by 30%.

• The works are performed without plant shut-down.

in 2012, for the first time during the post-Soviet period Ulaanbaatar CHPP-4 concluded with Ural Turbine Works a contract for supply of new steam turbine Т-120/130 to complete the existing three turbines of the previous generation — Т-110/120, installed more than 30 years ago.

Activities as general contractor and equipment supplier for the Mongolian CHPP-4 project

Experience in large-scale projects: Mongolian CHPP-4

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At Kazan CHPP-3 has been completed the project of technical re-equipping of the heat flow scheme and steam turbine PT-60-130/13 st.No.1 with switching to the bottom turbine scheme including replacement of the electric motors of the feed pumps of st. No.5,6 with the turbine drives.

The re-equipping procedure included the following: 1. Reconstruction of electric feed pumps ПЭ-500-180 of st. No.5,6 including replacement of the electric motor with a steam

turbine (turbine drive).

2. Reconstruction of turbine ПТ-60-130/13 st. №No.1 for operation with steam 13 atm.

Experience in large-scale projects: Kazan CHPP-3

Activities as general contractor for TGC-16 OJSC at Kazan CHPP-3

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Experience in small-scale projects: KHIMPROM Project

Activities as general contractor for Khimprom OJSC

OJSC Khimprom is one of Russia 's largest chemical enterprises specializing in production of various chemicals: organochlorous, organophosphorous, organosilicon as well as household goods, highly effective herbicides and insecticides, polyesters for rigid polyurethane foams.

At KHIMPROM project is implemented high-efficiency gas powered electrical generators established by Rollls-Royce.

.Total operational power of new TPP will be equaled to 24,9 MW.

Due to specific scheme of implementation, estimated cutting the costs of electricity is predicted at 30% .

Key features: 1. High efficiency – 46,4%

2. Total lifetime up to 50 years

3. All kinds of maintains at operation site

4. Effective exhaust heat exchanger

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Experience in small-scale projects: Karatau power island

EuroChem is one of the world's leading mineral fertilizer producers and rank among the top three European and top ten global producers by profitability. The company was set up in 2001 and it has grown the business ambitiously and in a controlled manner. EuroChem has worked to international standards of accounting, governance and sustainability management. The company has 22,000 employees, who have worked hard to deliver on growth plan.

JSC ROTEC acts as EPC contractor for Power Island construction project for heat and energy supply of new facilities in Karatau mineral assets, Kazahstan.

Key features: 1. Construction of 2 CCHP

2. 2 x GT LM2500 with 23 MW rated power each

3. Back pressure turbine 19 MW and condensing turbine 15,5 MW

4. Off-grid power system

Activities as general contractor for EuroChem AG

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ЗАКАЗЧИК / CUSTOMER

СУБПОДРЯДЧИКИ /SUBCONTRACTORS

EPC ПОДРЯДЧИК / EPC CONTRACTOR АО «РОТЕК»

Обособленное подразделение на строительной площадке /The separate division on the site

Руководитель проекта / Project manager

Зам. Руководителя проекта - Главный инженер

Начальник ПТОСметная группа

Специалист ОТиТБ

Группа закупок и логистики

Группа по ТМО, ОВиК

Группа по ЭТО, КИПиА, АСУ ТП

Планировщик

Администратор проекта

Геодезист

Ведущий инж-сметчик

Инженер – архивариусГруппа по ОСВедущий

специалист

Технический архив

ПРОЕКТИРОВЩИК / DESIGNER

Типовая организационная схема реализации проекта /Typical organizational structure of the project

Экономист

ПОСТАВЩИКИ ОБОРУДОВАНИЯ /SUPPLIERS OF EQUIPMENT

Typical EPC structure

CUSTOMER

EPC Contractor – “ROTEC”

The separate division on the site

Project manager Project administrator

Project chief engineer Project administrator

Technical file Head of operation Procurement Estimated

department

Estimating draftsman

Economist

Leading specialist

Layout specialist

Surveyor

PCS department

Mass transfer department

OC department

SUBCONTRACTORS

DESIGNERS

SUPPLIERS OF EQUIPMENT

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Content

1. Company overview

2. Organization structure

3. Business Areas

4. ROTEC as EPC contractor

5. Appendix

28

Experience and continuing technical customer contracts

Reconstruction of Vladimir CHPP-2, TGC-6, combined-cycle gas turbine unit (CCGT unit) — 230 MW

Gas turbine unit of type ГТЭ-160 manufactured by Power Machines OAO, two-pressure horizontal waste-heat recovery unit manufactured by EMAlyans OJSC; co-generation steam turbine unit Т-63/76-8,8 manufactured by UTW CJSC.

Reconstruction of Novogorkovskaya CHPP, TGC-6 OJSC, CCGT Unit – 330 MW

Two gas turbines GТ13Е2 manufactured by ALSTOM LTD (Switzerland) and two waste-heat recovery units Е-293/84.02-14/1,5-560/294 manufactured by Podolsk Machine Building Plant OJSC

Enlargement of Perm CHPP-9, TGC-9 OJSC CCGT Unit – 165 MW

Gas turbine ГТЭ-160 manufactured by Power Machines OAO "LMZ"; waste-heat recovery unit by EMAlyans OJSC

Technical re-equipping of Novokuibyshevskaya CHPP, Volzhskaya TGC OJSC, CCGT Unit – 240 MW;

Three gas turbines PG6111FA manufactured by GE ENERGY, France, three waste-heat recovery units manufactured by Energomash - BZEM CJSC (Belgorod)

Reconstruction of Kirov CHPP-3, TGC-5 OJSC CCGT Unit – 220 MW

Gas turbine ГТЭ-160 manufactured by Power Machines OAO, waste-heat recovery unit Е-236/41-9,14/1,45-512/298 manufactured by EMAlyans OJSC, steam turbine Т-63/76-8,8 manufactured by UTW CJSC

Reconstruction of Izhevsk CHPP-1, TGC-5 OJSC CCGT Unit – 230 MW

Gas turbine ГТЭ-160 manufactured by Power Machines OAO, waste-heat recovery unit Е-236/41-9,14/1,45-512/298 manufactured by EMAlyans OJSC, steam turbine Т-63/76-8,8 manufactured by UTW CJSC

Reconstruction of Nizhneturinskaya CPP, TGC-9 OJSC, CCGT Unit – 330 MW

Two gas turbines GT13Е2 manufactured by ALSTOM LTD (Switzerland), two waste-heat recovery units Е-204/48,6-7,42/1,19-467/274 (ПК-87) manufactured by Podolsk Machine Building Plant OJSC, two steam turbines КТ-63-7,7 manufactured by UTW CJSC, two steam boilers Е-16-1,4-225Г manufactured by Holding Company "Energomash-Stroy" OJSC, two hot-water boilers ПТВМ-120 manufactured by Dorogobuzhkotlomash OJSC

Implementation of projects in Russia:

Short list

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Experience: Oil & Gas

ROTEC experience in Gas project

In the period 2011-2012, CJSC ROTEK in cooperation with CJSC “Orgregionproject” carried out works on the object “Main Gas Absorber Unit at Malay-Bagtyryak pipeline".

Complete works for the installation of the gas absorber unit included installation, preliminary works, commissioning, stuff training, operation and maintenance.

The capacity of the Gas Absorber Unit is 21 billion cubic meters of natural gas per year.

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Overhead power lines

In accordance to designing and construction of new combined cycle power plants, ROTEC foresees necessity of building overhead power lines for connection between CCPTs and main electricity grid. ROTEC is ready to act as EPC contractor for this purpose and guarantee the quality of terms of construction. As a contractor ROTEC introduces ORGRES’s Center for Overhead Lines Engineering and Testing. Main Features: No competition in Russia as the testing ground in possession is unique for Russia. Modern infrastructure of testing facilities Positive reference-list in FGC UES Business areas: Testing of tower footings, 0,4-1150 kV metal, reinforced and wooden towers, line fittings, wires, protection cables and fiber

and optic cables Instrumental and diagnostic survey of transmission lines and water crossings Overhead transmission power lines technical evaluation and residual life estimation

Thank you for your attention!

Contacts Tel.: +7 (495) 644-34-60

E-mail: info@zaorotec.ru

www.zaorotec.ru