1H 2013 DTEK RESULTS PRESENTATION DTEK at glance Operational - - PowerPoint PPT Presentation

1H 2013 DTEK RESULTS PRESENTATION

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DTEK at glance Operational results Financial results Capex Appendices

Leading vertically integrated power & utility company in CEE

Leader in power generation and electricity distribution Robust financial performance & prudent leverage policy Exposure to non- cyclical end-markets Vertically integrated business model #1 coal miner with sizeable coal reserves

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• 27.3% of overall power output in Ukraine
• 39.6% in electricity distribution with presence in densely populated and industrially developed regions
• Largest electricity exporter
• Economies of scale and strong synergies between segments
• Competitive cost position across value chain
• Track record of sustainable leverage levels despite active M&A transactions and Capex programme
• Comfortable debt maturity profile with a potential for further improvement
• Exposure to Ukrainian market with stable demand for electricity
• Diversified customer base: 5.1mln households & 133k corporate and other customers
• Power generation is effectively self-sufficient in low-cost coal feedstock – strong competitive advantage
• vs. other thermal generators
• Own mining operations offer effective hedge for fuel supply and fuel price risks
• Value creation across the production chain: from coal mining to power distribution
• Dominant proportional share in coal mining: 47.8% of coal production in Ukraine
• Largest Ukrainian coal exporter*
• Diversified portfolio of long-life coal reserves
• 31 coal mines and 13 coal enrichment plants, incl. the largest coal mining company in Ukraine

Source: Energobiznes, Ministry of Energy and Coal Industry * by metric tonnes of coal

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DTEK at glance Operational results Financial results Capex Appendices

Market environment

• In the first half of the year Ukrainian economy declined (GDP Q1 -1.1% and Q2 -1.3%)
• Following soft economy performance overall electricity consumption was down 4.1% YoY
• Hydro power generation was up 42.9% YoY, negatively impacting other power generations
• Coal prices under pressure following global demand
• Surplus of coal on the market due to the fire at Uglegorskaya TPP (“Centrenergo” state-owned GenCO)
• Hryvnia / US Dollar exchange rate remained stable

DTEK

• Revenues up 14.4% YoY posting USD 5,5 Bio., EBITDA decreased by 11.7% to USD 0,9 Bio
• Focus on exports operations to offset soft local demand
• Revised Capex program to delay some of the projects
• Reached an agreement to purchase shares of Private JSC Naftohazvydobuvannya, the largest private gas

production company in Ukraine

• Placed USD 750 mln Eurobonds due 2018 with coupon 7.875%
• Secured long term ECA covered loan (EUR 138 mln) to finance 2nd phase of Botievo windfarm

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1H 2013 Key highlights

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Key business parameters

OPERATIONAL PERFORMANCE 1H 2013 1H 2012 +/- %

COAL MINING AND PREPARATION Coal mining - total kT 19 958 19 926 * 32.2 0.2 thermal coal kT 19 778 19 738 40 0.2 coking coal kT 180 496

• 316
• 176.0

POWER GENERATION Electricity output mln kWh 24 296 25 619

• 1 323
• 5.2

Heating production k Gcal 7 428 7 452

• 24
• 0.3

ELECTRICITY DISTRIBUTION Purchase in WEM mln kWh 30 007 23 259 ** 6 747 29 ELECTRICITY AND COAL EXPORT Electricity export mln kWh 4 946 4 291 656 15.3 Coal export kT 2 099 1 466 633 43.2

FINANCIAL PERFORMANCE 1H 2013 1H 2012 +/- %

Revenues*** USD mln 5 477 4 787 690 14.4 EBITDA USD mln 879 996

• 117
• 11.7

EBITDA margin % 16.0 20.8

• 4.8

Net profit USD mln 150 372

• 222
• 59.7

CAPEX (excluding VAT) USD mln 568 526 42 8.0 Free cash flow (excluding M&A) USD mln

• 337
• 176
• 161

91.5

* exlcluding Obukhovskaya mine group that was consolidated since July 2012. Including Bilozerskaya mine since its consolidation in January 1st 2012 in DTEK

• reporting. ** including Dniprooblenergo since April 1st 2012 and Krymenergo since May 1st 2012 , since their consolidation in DTEK reporting *** including

heat tariff compensation

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Leading energy company in Ukraine

Coal production Power generation Electricity distribution

Coal mining volume: 19.9 Mt Coal reserves: 1,700 Mt 31 coal mines 13 coal enrichment plants Energy generation: 24.3 TWh Installed capacity: 18.2 GW 10 TPG and 2 CHP plants 66 power units Electricity supply: 30.0 TWh Grid length: 158,700 km 6 distribution companies 5.2 mln end customers

Note: Share in mining volume of raw coal

DTEK PROPORTIONAL SHARE IN UKRAINE

Source: DTEK, Ukrenergo Main Data Processing Center, NERC * Excluding Dniproenergo in 2011 All figures are 1H 2013 actual

28.0% 46.1% 47.8% 2011 2012 1H2013 9.7% 28.5% 27.3% 2011* 2012 1H2013 9.5% 37.8% 39.6% 2011 2012 1H2013

EU; 0,47; 23% Russia; 0,44; 21% China; 0,21; 10% Turkey; 0,17; 8% Moldova; 0,31; 15% Others; 0,46; 23%

+43% 1H2012 1.5 2012 2.8 2011 3.4 2.1 1H2013

• Largest coal producer: 47.8% of all coal mined in Ukraine in 1H2013
• Coal production flat YoY driven by:
• coal surplus at domestic market caused by reduction in operating power units of thermal power plants
• management decision to limit production growth at some of the mines due to market situation and

Capex program revision

• Coal export up 43% YoY driven by:
• expanding exports to non-traditional markets (China, India, South Korea and Mexico)
• сoncluding coal supply contracts with international energy companies - EDF and E.ON

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Coal mining (1/2)

Coal sales (end product)**, Mt Coal mining (ROM)*, Mt

1H2013 20.0 10.5 2.1 7.4 1H2012 19.9 10.8 2.1 7.0 2012 39.7 20.8 4.5 14.4 2011 24.1 18.7 4.3 1.1 +1% G-grade T-grade A-grade

• 1%

14.5 1H2013 14.3 10.5 3.8 1H2012 12.1 2.4 2012 31.0 24.6 6.4 2011 18.2 9.6 8.6 Supply to introgroup customers External sales

Source: DTEK All figures are 1H 2013 actual * Volume of coal mining is in tonnes of raw (Run-of-Mine) coal extracted from the pits ** Coal sales is in tonnes of enriched coal, which is a marketable end product

Coal export, Mt Coal export (1H2013), Mt 2.1 Mt

• Highest in the Ukrainian coal industry labor productivity and competitive production costs
• Constant focus on enhancing operations efficiency and labor safety:
• mines’ labor safety management certification (OHSAS 18001:2007 standard)
• kick off of wide scale LEAN program
• installed new coal quality control systems

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Coal mining (2/2)

Labor productivity, t / worker / month Coal producers in Ukraine, Mt Cost of production, USD/t**

Dobropolyeugol 2.0 Komsomolets Donbassa 2.1 Sverdlovanthracite 3.3 Rovenkianthracite 3.5 Pavlogradugol 8.5 State mines 11.2 DTEK total* 19.4 86 74 68 53 36 21 Komsomolets Donbassa Pavlogradugol DTEK average Rovenkianthracite Sverdlovanthracite Dobropolyeugol State mines 55 68 76 89 90 92 DTEK average Komsomolets Donbassa Pavlogradugol Rovenkianthracite Sverdlovanthracite State mines Dobropolyeugol 98 176

Source: DTEK, Ministry of Energy and Coal Industry, Energobiznes * DTEK mines in Ukraine, not including three mines in Russia. Dobropolyeugol includes results of Bilozerska mine ** Cost of production of state mines is according to data for 5 months 2013, DTEK average are DTEK mines in Ukraine, not including three mines in Russia. UAH/USD FX rate used: 1H2013 – 7.99

Source: NJSC Energoatom, Ukrhydroenergo and NJSC Energy Company of Ukraine

• Leading share in power generation with 27.3% in the 1H 2013
• Strong competitive advantage vs. other thermal power generators: reliable fuel

supplies from own efficient and low cost coal mining operations

• Focus on fuel consumption reduction – 5 energy blocks reconstruction:
• Kurahovksa TPP (block #6) – reconstruction completed
• Luhanska TPP (block #13) scheduled completion - September 2013
• Byrshtynska TPP (block #5) scheduled completion – October 2013
• Dobrotvirska TPP (block #8) scheduled completion - November 2013
• Kryvorizka TPP (block #1) scheduled completion – March 2014

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Power generation

Ukraine’s TPG

• utput, TWh

Ukraine’s power generation, % Installed capacity utilisation rate (ICUR*), % Average fuel consumption, tn/TWh Average supply tariff, USD cents/MWh

37% 45% 18% Thermal Nuclear Hydroelectric & other

DTEK 27.3%

Dniproenergo 20.5% Centrenergo 20.6% Donbasenergo 36.2% Zakhidenergo 42.5% Skhidenergo 47.2% 3.9 Donbasenergo Centrenergo Dniproenergo 6.6 6.2 Zakhidenergo 7.8 7.7 Skhidenergo 415 Donbasenergo 394 Skhidenergo Dniproenergo 393 Centrenergo 387 389 Zakhidenergo 8.8 8.3 7.8 7.7 7.3 Donbasenergo Skhidenergo Centrenergo Zakhidenergo Dniproenergo

* Dniproenergo’s installed capacity is net of suspended oil & gas power units, and out of service units (8,185MWt incl. all units); Centrenergo’s installed capacity is net of suspended oil & gas power units (7,600MWt incl. all units) UAH/USD FX rates used: 1H2013 – 7.99

7.6 7.4 7.1 6.3 2011 2012 1H2012 1H2013

• Leading position in electricity distribution:
• 39.6% of electricity distribution in Ukraine
• 30.0 TWh of electricity distributed to end consumers
• Lower electricity distribution losses (6.3%) vs industry’s average (10.9%)
• Prepare for RAB model introduction in 2014
• Launched new client service centers at Kievenergo
• Electricity export was up 15.3% YoY to 4.9 billion kWh, growth to all key

markets (Moldova, Slovakia, Hungary, Romania, Poland, and Belarus)

• Set up trading company in Switzerland to facilitate direct access to

European energy markets

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Electricity distribution & export

* Including Energougol ENE All figures are 1H 2013 actual

Electricity distribution losses (% of network)

Ukraine industry avg losses 10.9%

Electricity export, TWh

4.9 1H2013 1H2012 4.3 2012 9.7 2011 5.1 +90% +14% 27% 47% 16% 9% 1% Belarus Hungary Moldova Poland Others

DTEK

Electricity distribution in Ukraine,%

15,9% 7,7% 6,7% 6,2% 3,0% 60,4% Dniprooblenergo Service-Invest Donetskoblenergo* Kyivenergo Krymenergo Other

DTEK 39.6%

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DTEK at glance Operational results Financial results Capex Appendices

1H 2013 Revenue increased by USD 690 mln (+14.4% YoY), key drivers:

• full period consolidation of companies acquired in 1H 2012
• positive tariff dynamics in generation (+3.7% YoY)
• growth in distribution tariffs (+10.6% YoY)
• reduction in heat tariff compensation due to recognition in 1H 2012 compensation related to prior periods

Revenue YoY changes

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Source: DTEK IFRS statements UAH/USD FX rates used: 1H 2012 – 7.96, 1H 2013 – 7.99

Revenue changes, USD mln

1H 2012

1H 2013

4 787

• 8

+ 95 + 777

• 143
• 31

5 477 Full period consolidation Volumes Price/Mix Heat Tariff Compensation Other changes

1H 2013 EBITDA decreased by USD 117 mln (-12% YoY), key drivers:

• growth of electricity supply to Energorynok State Enterprise by 10.7% (the effect of the full period of Dniproenergo and Zakhidenergo consolidation)
• growth of electricity supply tariff (including the investment mark up) by 4.3%
• Increase in electricity production costs caused by rise of the environmental tax rate in accordance with the changes in the Tax Code and inflation of

coal production costs

• growth in electricity transmission & sales mainly due to the full period consolidation of the new distribution companies (Dniprooblenergo and

Krymenergo)

• heat tariff compensation decrease reflecting one-off receipt in 2012 of compensation for the difference in Kyivenergo tariffs for previous periods
• Changes in profitability from trading operations:
• reduction of profits from electricity export (USD -22 million) due to decrease in sales tariffs
• change in profits from coal export (USD -45 million) due to decrease in sales prices (USD -76 million) partially offset by volumes growth by 43%

(USD +31 million)

• change in profits from coal sales in domestic market (USD -111 million) due to average sales prices/ mix reduction by 23% (USD -44 million) and

volumes decline by 45% (USD -67 million), following consolidation in the group Zakhidenergo and Dniproenergo .

EBITDA YoY changes

14 47 94

• 60

38

• 132
• 178

996 объем отпуска э/э тариф на отпуск э/э рост себестоимости дистрибуция э/э теплоэнергия трейдинговые операции 879

1Н 2012 1Н 2013

Electricity supply Electricity supply tariff Growth of production cost Electricity distribution Heating Trading

• perations

EBITDA changes, USD mln

Source: DTEK IFRS statements UAH/USD FX rates used: 1H 2012 – 7.96, 1H 2013 – 7.99

1H 2013 Free cashflow decreased by USD 161 mln, key drivers:

• decrease in earnings (USD -211 mln)
• changes in working capital: settlement of outstanding receivables of distribution, power generation and coal mining companies

(resolution #517 issued by the Cabinet of Ministers of Ukraine) (USD +282 mln), decrease in heat tariff compensation receivable (USD +129 mln), partially offset by increase in coal stocks (USD -30 mln) and changes in other working capital items (trade /other payables and advances received)

• increase in income tax payable by USD 82 mln following changes in the tax code introduced in 2013
• increase in interests paid (USD +26 mln) following loan portfolio growth
• increase in CAPEX (USD +106 mln): TPPs retrofitting programme (companies acquired in 2012) by USD +77 mio; distribution companies

by USD +10 mln, Botievo windfarm greenfield construction USD +41 mln

Free cashflow YoY changes

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Source: DTEK IFRS statements * In June 2012 Ukrainian government introduced a resolution aiming to settle old debts among power generation, electricity distribution and coal mining companies in Ukraine (Resolution of the Cabinet of Ministers of Ukraine #517). This change represents the decrease in receivables and heat tariff compensation receivable settled under this Resolution. UAH/USD FX rates used: 1H 2012 – 7.96, 1H 2013 – 7.99

Free Cashflow changes, USD mln

FCF 1H 2012 FCF 1H 2013

• 106
• 176
• 211

+ 411

• 136
• 82
• 26
• 11
• 337

Change in earnings Change in receivables* Other working capital changes Increase in income taxes paid Increase in interest paid Increase in CAPEX Other changes

• Maintain healthy leverage level with ample covenant headroom to the ceiling of 3X
• Total Debt (borrowings) at the end of the period was USD 2,915 mln, cash and

equivalents was USD 429 mln

• Debt structure: 84% - long term / 16% short term loans; 63% fixed rate / 37% floating rate
• Comfortable maturity of avg. 3.7 years, with 99% of debt is unsecured
• 1H 2013 key projects:
• priced USD 750 mln senior notes with coupon 7.875% due in 2018
• repurchased USD 300 mln of notes due 2015
• signed ECA covered (EKF, Hermes, Kuke) loan agreement for EUR 138 mln

with LBB to finance 2nd phase of Botievo Windfarm

• pened revolving credit lines at Oschadbank with a total limit of equivalent
• f USD 288 mln

Debt profile

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* Borrowings excluding revolving lines and accrued interest ** RUB facilities with VTB (RUB 10 bn) and SberBank (USD 500 mln in RUB equivalent) were swapped into USD and are in USD slice of the pie chart Source: DTEK audited IFRS financial statements for 2011 and 2012, DTEK Unaudited Condensed Consolidated Interim Financial Statements for

• 1H2013. UAH/USD FX rates used: 2011 – 7.98; 2012 – 7.99; 1H 2013 – 7.99

Debt maturity profile* as of July 1, 2013, USD mln

74 349 628 422 128 77 200 750 2,628 Debt excl. revolving lines 2H2013 2014 2015 2016 2017 2018+ Bank loans Eurobond 828 827

66% 29% 5% 0,5% USD EUR UAH RUB 585 1 951 2 589 0,5x 0,9x 1,3x 0,0x 0,5x 1,0x 1,5x 2,0x 2,5x 500 1 000 1 500 2 000 2 500 3 000 2011 2012 1H2013 Net debt Net Debt / adj. EBITDA 1 894 2 622 3 018 1,5x 1,2x 1,5x 0,0x 0,5x 1,0x 1,5x 2,0x 2,5x 500 1 000 1 500 2 000 2 500 3 000 3 500 2011 2012 1H 2013 Gross Debt Gross Debt / adj. EBITDA

Total debt composition by currency** as of July 1, 2013 Gross Debt (USD mln) and Gross Debt / adj. EBITDA (x) Net debt (USD mln) and Net Debt / adj. EBITDA (x)

(1) Gross debt represents borrowings both current and non-current and fair value loss of the gross-settled derivative financial instruments – USD 103 mln in 1H 2013 (35.5 mln in 2012, nil in 2011); (2) Adjusted EBITDA for the 12 month of July 2012 – June 2013 amounted to USD 2.0 bln. Adjusted EBITDA represents profit for the year after excluding the following non-operating income statement items: foreign exchange losses less gains from borrowings, certain finance costs, income tax expense, depreciation and amortization, recognition of loss from fair valuation of associate on transfer to subsidiary, recognition of AFS reserve on transfer to associate, impairment of investment in associates, gain on a bargain purchase, impairment of property, plant and equipment and certain foreign exchange differences; (3) Net debt represents gross debt less cash and cash equivalents;

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DTEK at glance Operational results Financial results Capex Appendices

1276 64

• 33

10 36 82 18 1453

Capex drivers in 2013, USD mln

2012 2013E

Coal Power generation Distribution Renewables Kyivenergo** Others

319 482 546 169 398 365 29 117 127 79 162 179 215 18 20 38 2011 2012 2013e

Other (service enterprises, corporate center) Renewables Kyivenergo** Electricity distribution Power generation Coal mining 542 1,276 1,453

• 2013 YEE Capex is planned at USD 1,45 Bln, an increase by USD 177 mln. YoY growth driven by business footprint expansion:
• - investments in companies* acquired in 2012 – USD 399 mln (+77% YoY)
• - investments in Botievo windfarm project – USD 215 mln
• Focus investments on assets’ efficiency improvement and TPPs retrofit program:
• - Coal mining: investments related to increase of loads and productivity (e.g. mining equipment, mine ventilation, etc)
• - Power generation: retrofit program of 5 power units
• - Electricity distribution: improvement of transmission grids, construction of new substations, investments in metering
• Investment mark-up in tariffs fully fund Capex for electricity distribution assets and partially (80%) retrofits of TPGs

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Capex

Source: DTEK audited IFRS accounts

Capex dynamics, USD mln

Existing assets Botievo Wind Farm

* Dniproenergo, Zakhidenergo, Krymenergo, Dniprooblenergo, Donetskoblenergo, Bilozerska mine, Rostov mines ** Kyivenergo operates both power generation, heat generation and electricity distribution assets and its total capex across these business segments is not splitted UAH/USD FX rates used: 2011 – 7.97; 2012 – 7.99; 2013 – 7.99

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Key investment projects

TOTAL PROJECT CAPEX (in mln USD) 2013E CAPEX (in mln USD) PROJECT TARGETS COAL MINING

Constructing ventilation borehole No. 3 at Yubileyna mine 29.4 7.8

• Maintenance of mine capacity on 1.5 mln t per year

starting from 2014 Increasing the capacity of the technological chain of Geroiv Kosmosu mine 19.2 5.8

• Coal winder capacity increase from 1.5 mln t to 3.0 mln t

Technical re-equipment of the second section

• f Pavlogradska CEP

15.3 9.5

• Annual volume of enrichment increase from 3.8 mln t

to 4.8 mln t

• Logistic scheme Mine-CEP-TPP optimization

Constructing facilities of the vertical fresh air shaft at Frunze mine 26.9 3.5

• Annual production increase to 1.8-2.0 mln t
• Labour and cargo transportation chain optimization

POWER GENERATION

Retrofit of unit 13 Luhanska TPP 51.3 34.0

• Capacity: + 35 MW
• Fuel consumption: - 16.5 g/kWh
• Maneuverability range: + 45 MW

Retrofit of unit 6 Kurakhovska TPP 71.1 22.0

• Capacity: + 15 MW
• Fuel consumption: - 40.6 g/kWh
• Maneuverability range: + 45 MW

Retrofit of unit 8 Dobrotvorska TPP 62.3 53.7

• Capacity: + 10 MW
• Fuel consumption: - 16.1 g/kWh
• Maneuverability range: + 35 MW

Retrofit of unit 4 Zuyvska TPP 31.2 8.5

• Capacity: + 25 MW
• Fuel consumption: - 21.9 g/kWh
• Maneuverability range: + 40 MW

Retrofit of unit 5 Burshtynska TPP 65.7 46.8

• Capacity: + 48 MW
• Fuel consumption: - 61.3 g/kWh
• Maneuverability range: + 29 MW

KYIVENERGO

Constructing the substation 35/10 kV Elenovska with a 110 kV line 16.3 10.2

• Substation transformers capacity: 80 MVA

Retrofit of open distributing device 330 kV for combined heat-and-power plant #5 22.4 16.6

• Covering the deficit of power consumption for central regions
• f Kiev

Exchange rate used UAH/USD – 7.99

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DTEK at glance Operational results Financial results Capex Appendices

Selected financials 1H 2012 – 1H 2013

USD MLN 1H2013 1H2012 +/- % Income statement Revenues Sales of steaming and coking coal 342 538

• 196
• 36.4

Sales of electricity to electricity pool 2 082 1 792 290 16.2 Sales of electricity to final customers 2 385 1 643 742 45.2 Heat generation 270 266 4 1.5 Export sale of electricity 284 279 5 1.8 Other sales 7 17

• 10
• 58.8

Heat tariff compensation 107 252

• 145
• 57.5

Operating expenses Cost of electricity purchased for resale 2 437 1 730 707 40.9 Raw materials 848 919

• 71
• 4.1

Staff costs 744 633 111 17.5 Other expenses, net 569 509 60 11.8 EBITDA 879 996

• 117
• 11.7

EBITDA margin 16.0% 20.8%

• 4.8%

Depreciation 418 353 65 18.4 Net profit 150 372

• 222
• 59.7

Balance sheet Non-current assets 7 715 6 784 931 13.7 Current assets 2 521 2 445 76 3.1

• of that cash and cash equivalents

429 583

• 154
• 26.4

Total assets 10 236 9 229 1 007 10,9 Shareholders equity (including minority) 4 188 3 583 605 16.9 Interest bearing debt 2 915 2 162 753 34.8 Other liabilities 3 132 3 484

• 352
• 10.1

Total liabilities 6 047 5 646 401 7.1

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UAH/USD FX rates used: 1H 2012 – 7.96, 1H 2013 – 7.99

Selected financials 1H 2012 – 1H 2013

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UAH MLN 1H2013 1H2012 +/- % Income statement Revenues Sales of steaming and coking coal 2 734 4 281

• 1 547
• 36.1

Sales of electricity to electricity pool 16 641 14 262 2 379 16.7 Sales of electricity to final customers 19 060 13 082 5 978 45.7 Heat generation 2 162 2 119 43 2.0 Export sale of electricity 2 273 2 220 53 2.4 Other sales 47 133

• 86
• 64.7

Heat tariff compensation 859 2 006

• 1 147
• 57.2

Operating expenses Cost of electricity purchased for resale 19 480 13 776 5 704 41.4 Raw materials 6 779 7 314

• 535
• 7.3

Staff costs 5 949 5 040 909 18.0 Other expenses, net 3 687 2 039 1 648 80.8 EBITDA 7 022 7 928

• 906
• 11.4

EBITDA margin 16.04% 22.0%

• 5.92%

Depreciation 3 340 2 807 533 19.0 Net profit 1 197 2 962

• 1 765
• 59.6

Balance sheet Non-current assets 61 664 54 224 7 440 13.7 Current assets 20 151 19 543 608 3.1

• of that cash and cash equivalents

3 429 4 663

• 1 234
• 26.5

Total assets 81 815 73 767 8 048 10.9 Shareholders equity (including minority) 33 478 28 639 4 839 16.9 Interest bearing debt 23 299 17 283 6 016 34.8 Other liabilities 25 038 27 845

• 2 807
• 10.1

Total liabilities 48 337 45 128 3 209 7.1

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Strategically located in key Ukrainian regions

Coal mining Power generation Power distribution Heating Wind power Corporate HQ Densely populated regions Areas of presence Export routes Key industrial areas

• Proximity to key industrial customers
• Presence in most densely populated regions of Ukraine
• Logistic synergies across business segments
• Constant focus on operational efficiency improvements

Experienced and committed strategic ownership of DTEK:

• Substantial benefit from the experience and strategic vision of the Group’s UBO – Mr. Akhmetov
• DTEK is part of SCM – leading financial and industrial group in Ukraine

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Ownership structure*

Coal production Power generation Electricity distribution

DTEK Pavlogradugol PJSC 99.92% 99.92% DTEK Mine Komsomolets Donbasa PJSC 95.24% DTEK Dobropolskaya CEP PJSC 60.06% CCM Pavlogradskaya LLC 99% CCM Kurahovskaya LLC 99% Mospino CPE LLC 99% DTEK Oktyabrskaya CEP PJSC 60.85% DTEK Dobropolyeugol LLC** 100% DTEK Skhidenergo LLC 100% Wind Power LLC 100% DTEK Dniproenergo PJSC 73.40% Kyivenergo JSC 72.39% DTEK Zakhidenergo PJSC 72.24% DTEK Energougol ENE PJSC 95.19% Servis-Invest LLC 100% Kyivenergo JSC 72.39% DTEK Donetskoblenergo 71.34% DTEK Rovenkianthracite LLC** 100% DTEK Sverdlovanthracite LLC** 100% DTEK Dniprooblenergo PJSC 51.61% DTEK Krymenergo PJSC 57.60% Public Mining Corporation Obukhovskaya 100% Public Company Don-Anthracite 100% Sulinathracite LLC 100% Bilozeska Mine ALC 95.44% Pershotravensky RMZ LLC 99.92% Ekoenergoresurs LLC 99% Tehrempostavka LLC 100%

* Legal names are given as per constituent documents ** Dobropolyeugol has a 49 year lease on mining assets. Rovenkianthracite and Sverdlovanthracite have 49 year concessions in relation to the mining assets they operate Ownership data as of June 30, 2013

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