AREVA Business & Strategy overview. August, 2010

Transcription

1 AREVA Business & Strategy overview August, 2010

2 Notice Forward-looking statements This document contains forward-looking statements and information. These statements include financial forecasts and estimates as well as the assumptions on which they are based, statements related to projects, objectives and expectations concerning future operations, products and services or future performance. Although AREVA s management believes that these forward-looking statements are reasonable, AREVA s investors and investment certificate holders are hereby advised that these forward-looking statements are subject to numerous risks and uncertainties that are difficult to foresee and generally beyond AREVA s control, which my mean that the expected results and developments differ significantly from those expressed, induced or forecast in the forward-looking statements and information. These risks include those developed or identified in the public documents filed by AREVA with the AMF, including those listed in the Risk Factors section of the Reference Document registered with the AMF on March 29, 2010 (which may be read online on AREVA s website, AREVA makes no commitment to update the forward-looking statements and information, except as required by applicable laws and regulations. AREVA Overview August 2010 p.2

3 Contents Introduction to AREVA Developments at AREVA Performances and objectives by BG AREVA latest financial results Appendices AREVA Overview August 2010 p.3

4 An energy world in revolution 3 major challenges Energy demand Oil & Gas availability GHG emissions Energy demand (in Gtoe) Oil and Gas production (Gboe/year) GtCO2eq/yrv Multiply by 1.5 by 2030 Declining fossil resources Cut by half by The world needs twice as much energy and half as much CO 2 AREVA Overview August 2010 p.4 Introduction to AREVA

5 AREVA s positioning aligned with world energy challenges Global energy mix Billions of metric tons of oil equivalent / year Energy demand x ,0 3,4 Renewables Fossil resources ,7 1,4 1,5 +3.3%/y 2,5 0,7 2,4 3,0 Nuclear Energy efficiency Natural gas CO 2 emissions / ,0 4,3 Oil Our mission: Enabling everyone to have access to even cleaner, safer and more economical energy 0 3,1 2, Coal Source: World Energy Outlook 2008 stabilization 450 ppm scenario, AREVA AREVA Overview August 2010 p.5 Introduction to AREVA

6 AREVA is a global leader in solutions for carbon-free power generation 2009 Key figures 43.3Bn backlog 8,529M sales 647M op. performance excluding OL3 provision * 97M EBIT including OL3 provision 48,190 people * EBIT Excluding OL3 provision of 550M recorded in H AREVA Overview August 2010 p.6 Introduction to AREVA

7 Installed nuclear capacity expected to nearly double by 2030 AREVA s development forecasts for installed nuclear capacity (in GW) From 2008 to Forecasts issued by international organizations 818: WNA High Estimate 807: IAEA High Estimate 731: WNA High estimate 678: WEO Low estimate, 450 GW AREVA average forecast 600: WNA Reference scenario 533: WEO Basic scenario, 550 GW : DOE 3 EIA Reference scenario 473: IAEA Low estimate 433: WEO Reference scenario Installed capacity Plant 2008 shutdowns Extension of plant life spans New builds Installed capacity World Energy Outlook 2 World Nuclear Association 3 US Department of Energy 4 Energy Information Administration AREVA Overview August 2010 p.7 Introduction to AREVA

8 AREVA is targeting 1/3 of the accessible market* Segmentation of the accessible nuclear new build market Expected new nuclear capacities Accessible Market* (To be commissioned ) Examples 230 GWe net* Examples Egypt United Arab Emirates > 80% <20% Jordan Thailand Vietnam Established safety authority NPCIL Nuclear utilities looking for a more or less integrated offer (reactor + fuel cycle) 95% of these utilities are already customers of AREVA AREVA has direct access to customers Countries new comers to civil nuclear energy Major role of State-to-State cooperation Search for a leading utility investor/ operator to assist with the development of nuclear energy AREVA has access through the leading utility * Excluding Russia, CIS (Ukraine, Armenia), Japan, South Korea, North Korea, Pakistan and Iran AREVA Overview August 2010 p.8 Introduction to AREVA

9 Strong growth is expected on most renewable energy segments Capacity installed for renewable energies (GW) Tide and Wave Geothermal Thermal solar PV solar Biomass Wind onshore Wind offshore XX% world electricity generation capacity 7% 9% 11% 13% Increasing share of new renewables* from 3% to 13% of total electricity mix A market of ~160 Bn$/year of new capacity Annual new capacity market (in USD 07 billion) 3% Strong growth expected in Off-shore wind (~10% p.a.), Biomass (~6% p.a.), and thermal solar (~18% p.a.) Source : WEO 2008, ETP, EIA (2008) * Except hydro AREVA Overview August 2010 p.9 Introduction to AREVA

10 AREVA is the only fully integrated player on the nuclear power value chain Mining / Natural uranium Front-End Conversion / chemistry Enrichment Natural uranium fuel Reactors and Services Back-End Treatment Recycling Source: AREVA estimates Presence AREVA Overview August 2010 p.10 Recent strategic move / development Potential move Introduction to AREVA

11 And plans to become a leading reference in the field of renewable energy Focus on 4 segments Already #1 in Bio-energy Off-shore wind turbine of the highest power rating (5MW) currently in operation Offshore Wind Bio-energy Concentrated Solar Thermal Energy Vector and Storage AREVA Multibrid AREVA Ausra Helion AREVA Overview August 2010 p.11 Introduction to AREVA

12 Contents Introduction to AREVA Developments at AREVA Performances and objectives by BG AREVA latest financial results Appendices AREVA Overview August 2010 p.12

13 Developments at AREVA Customer construction projects: five "new builds" Four EPR reactors: OL3 (TVO), Taishan 1&2 (CGNPC) and Flamanville 3 (EDF) MOX fuel fabrication facility (US DOE) Industrial developments at AREVA Mine site development Comurhex II conversion plant Georges Besse II enrichment plant Eagle Rock enrichment plant AREVA Wind and AREVA Solar Strengthening our financial resources AREVA Overview August 2010 p.13 Developments at AREVA

14 1 Current status of the reactor projects OL3 (Finland) Turnkey power plant Taishan 1&2 (China) 2 nuclear islands Unit 1 Unit 2 FA3 Nuclear steam supply system Concrete seal of the dome complete Main civil works complete Engineering work nearing completion Reactor vessel installed Architecture of the l&c system accepted Startup of nuclear operations for late 2012 Unit 1: installation of 3 rd reactor liner ring Unit 2: 1 st concrete poured Engineering work nearly 52% complete 75% of procurement orders placed (in ) The main primary components are being manufactured Concrete work completed Rebar is being installed - concrete comes next The reactor's containment liner has been installed 90% of procurement orders placed (in ) Engineering work nearly 80% complete Heavy component manufacturing continues: the reactor vessel will be available late 2010 Installation of first equipment (AREVA s scope) AREVA Overview August 2010 p.14 Developments at AREVA

15 1 Engineering for EPR reactors: the value of lessons learned Progress indicator for EPR reactor engineering work (nuclear steam supply systems - NSSS) Engineering hours (June rebased compared with OL3) % OL3 FA % Nbr hours divided by % 44% 20% 30% 40% 50% 60% 70% 80% 90% 100% TSN1&2 % completed Source : AREVA AREVA Overview August 2010 p.15 Developments at AREVA

16 2 Industrial developments at AREVA Mining Front End Mine site development Priority given to organic growth Katco Cigar Lake Somaïr Imouraren Trekkopje Uranium conversion: Transition Comurhex I Comurhex II Replacing and modernizing production capacity Investing in 15,000 metric tons of capacity/year Civil works have started Enrichment Georges Besse II - France Spinup of the first cascade achieved in 2009 First production scheduled for late 2010 Production at full capacity in 2016 Enrichment - Eagle Rock - United States Securing financing $2 billion loan guarantee received from DOE Evaluation criteria: reliability of the proposed technology, innovation and financial strength Construction will begin in 2011 subject to licensing and the necessary diplomatic agreements AREVA Overview August 2010 p.16 Developments at AREVA

17 2 AREVA Wind Industrial developments at AREVA Renewables AREVA Solar Acquisition of the remaining shares (49%) of Multibrid High-tech blade manufacturer (PN Rotor) acquired end 2009 Assembling wind turbine nacelle Acquisition of Ausra (renamed AREVA Solar) finalized in March 2010 Concentrated solar thermal power Steam production and management: AREVA s core expertise Booming solar technologies: Selected applications AREVA WIND Blade manufacturing PN Rotor Solar power plant "Booster": thermal solar extension to conventional thermal plants Steam for industrial processes AREVA Overview August 2010 p.17 Developments at AREVA

18 3 Strengthening AREVA's financial resources Development plan approved June 30, 2009 Sale of financial assets Finalized in bn (GDF-Suez /Total) Sale of minority interests in strategic assets 2009 program finalized 500m Other sales anticipated by 2012 T&D disposal Transaction closed on June 7, 2010 Gain: 1.3bn Cash generated: 3.1bn Cash generated: 5bn AREVA Overview August 2010 p.18 Developments at AREVA

19 3 Strengthening AREVA s financial resources: pending actions Announcements made on July 27, 2010 Before the end of 2010: open up capital to the value of 15%, to strategic and financial investors with whom the Group already started negotiations Under consideration: EDF could take a stake in AREVA s capital AREVA Overview August 2010 p.19 Developments at AREVA

20 Contents Introduction to AREVA Developments at AREVA Performances and objectives by BG AREVA latest financial results Appendices AREVA Overview August 2010 p.20

21 AREVA Business Groups Mining / Front-End Reactors & Services Back-End Renewable Energies Mining : Uranium mines exploration and operation activities Front-End : Conversion and enrichment of the uranium and design of the fuel for the nuclear reactors Design and construction of nuclear reactors Maintenance and modernization of the nuclear power plants Recycling of the used fuel and provider of clean-up and dismantling services Development of wind energy, bio-energy, solar power and hydrogen power solutions AREVA Overview August 2010 p.21 Performance and objectives by BG

22 Front-End Business Group Mining / Front-End AREVA: a leading player worldwide in the overall Front-End 2009 Sales: 3,471 M (41% of AREVA Sales) H Sales: 1,593 M 14,400 employees Mining : Uranium mines exploration and operation activities Front-End : Conversion and enrichment of the uranium and design of the fuel for the nuclear reactors N 1 producer of Uranium in ,626 tu produced by AREVA AREVA Overview August 2010 p.22 Performance and objectives by BG

23 AREVA invests to maintain its leadership in Mines and Enrichment Sales 2009 split A leading player in the overall Front-End Mining 25% Conversion 7% Key financials Enrichment 34 % Fuel 34 % Mining: explores, extracts and processes uranium ore, from which nuclear fuel is made. The BU then reclaims mining sites once production is finished Chemistry: converts natural uranium (U3O8) into uranium hexafluoride (UF6) required for enrichment Enrichment: Increasing the proportion of U235 found in natural uranium from 0.7% to 3%-5% in order to manufacture fuel for nuclear reactors Fuel: designs, manufactures and sells nuclear fuel assemblies for pressurized water reactors (PWR), boiling water reactors (BWR) and research reactors In millions of euros 2009 H H Change 10/09 ORDER BOOK 27,715 27,055 28,590 +5,7 % SALES REVENUES 3,471 1,556 1, ,4 % OPERATING INCOME* (133) - % Sales 19,0 % 22,4 % -8,3 % nm OP. FCF BEFORE TAX (315) (179) (210) -18 % *Incl. 191m in H1 2009: new minority partners in GBII and 300m of impairment on Mining assets in H AREVA Overview August 2010 p.23 Performance and objectives by BG

24 Canada AREVA has a uniquely diversified mining portfolio Kazakhstan Development (Shea Creek, Kiggavik etc.) Exploration since 1964 Cigar Lake production to start in 2013 (+2,600 tu) Mining & global fuel agreement signed Katco production ramp-up / license for 4,000 tu obtained - Largest number one ISL production in the world > at 3,000 t U Mongolia Sainshand Exploration Morocco Agreement signed with Office Chérifien des Phosphates AREVA Resources Southern Africa Namibia - Trekkopje: mining permit obtained / desalination plant tests / 1 st production expected in ,000 tu production expected Central African Republic -Bakouma: government agreement obtained +2,000 tu production expected South Africa Ryst Kuil Exploration Niger Production (metric tons of U) Somaïr & Cominak mines Somaïr: starting heap leaching Imouraren mining license obtained - Start up (+ 5,000 tu) - first stone laid and 1st earthwork Democratic Republic of Congo Mining partnership Australia Exploration since 1969 ~ 8,600 10,000 12,000 Data : End of AREVA Overview August 2010 p.24 Performance and objectives by BG

25 AREVA, the world's number one producer of uranium in 2009 Production in tonnes of U 1 8,400 7,800 7,200 6,600 6,000 5,400 4,800 4,200 3,600 Cameco Rio Tinto AREVA Kazatomprom 8,626 8,000 7,937 7,500 3, Consolidated share of production AREVA Overview August 2010 p.25 Performance and objectives by BG

26 AREVA is leading the way in enrichment capacity renewal Georges Besse II - FRANCE First rotation of first centrifuge cascade in December Bn project: one of the biggest industrial investments of the past decade in France Essential investment for global balance of the enrichment market with modular capacity to meet market requirements First production scheduled for late 2010 Production at full capacity in 2016 Best existing available technology (ETC TC12) Eagle Rock Enrichment Facility - USA Construction to begin in 2011 subject to licensing and the necessary diplomatic agreements $2 Bn loan guarantee received from DOE Evaluation criteria : reliability of the proposed technology, innovation and financial strength Proven ETC centrifuge technology, already licensed by the NRC AREVA Overview August 2010 p.26 Performance and objectives by BG

27 131 reactors worldwide are fuelled by AREVA EDF GB (1P/1) BELGIUM (5P/7) FRANCE (~56P/58) * SPAIN (1P/6,0B/2) USA (19P/69, 9B/35) NL (1P/1) SWITZERLAND (3P/3, 1B/2) SWEDEN (3P/3, 3B/7) FINLAND (0B/2) GERMANY (11P/11, 3B/6) CHINA (7P/7**) JAPAN (1P/24, 0B/30) TAIWAN (0P/2, 4B/4) AREVA provides fuel for 91% of its reactor installed base and for 23% of its competitors installed base BRAZIL (1P/2 **) Source: IAEA 2009 *Partial MOX reload **Local Fuel makers using AREVA NP Technology SOUTH AFRICA (2P/2) P = pressurized water reactor (PWR); B = boiling water reactor (BWR). (-/-) = Number of reactors supplied with fuel by AREVA/total number of reactors in service. AREVA Overview August 2010 p.27 In addition to map : Mexico (2B), Slovenia (1P), South Korea (16P), India (2B) and Pakistan (1P) Performance and objectives by BG

28 Reactors & Service Business Group Reactors & Services AREVA: a global key player in the Reactors & Services 2009 Sales: 3,418 M (36% of AREVA Sales) H Sales: 1,543 M Design and construction of nuclear reactors Maintenance and modernization of the nuclear power plants 17,700 employees AREVA Overview August 2010 p.28 Performance and objectives by BG

29 Reactors & Services Business Group Still mostly recurring, but new build is there Sales 2009 split Installed Base 45% Key financials New Builds 25% Equipment 11% Products & Technology 1% Nuclear Measurements 5% Propulsion and research reactor Other 1% 13% A global key player in the Reactors & Services Nuclear builds : participates in all stages of construction of the steam supply systems and nuclear islands and their commissioning, then provides support during the operating phase. Nuclear services: reactor optimization services. Equipment : design and manufacture of key components for nuclear power plants. Product & Technology: manages the AREVA reactors portfolio. It is responsible for safety and performance. Nuclear measurement: manufactures and markets key instruments and systems for detecting and measuring radioactivity. Propulsion and research reactor : uses its expertise to carry out high-tech projects. It is active in several sectors of the industry. In millions of euros 2009 H H Change 10/09 ORDER BOOK 8,910 8,269 7, ,7 % SALES REVENUES 3,418 1,382 1, % OPERATING INCOME* (76) (552) (391) + 162m % Sales - 2,2 % - 40,0% - 25,3 % nm OP. FCF BEFORE TAX (736) (565) (420) + 145m * Incl. OL3: 367 M in H and 550 M in H AREVA Overview August 2010 p.29 Performance and objectives by BG

30 The EPR Reactor 1,650 MWe PWR The Path to Greatest Certainty Generation III+ PWR 4-Loop MWth SG pressure 77bar at 100% power 4x100% redundancy of active safeguard systems Backup in case of total loss of safety function High power output (1,650 MWe) Evolutionary design (Konvoi/N4) Low global power generation costs Reduce by up to 15% fuel consumption 60 years of operation Improved flexibility to reduce opex Outstanding safety level Maximized benefit from size effect Minimal environmental impact Construction in Finland, France & China The Path to Greatest Certainty Licensing engaged in the USA & UK AREVA Overview August 2010 p.30 Performance and objectives by BG

31 The ATMEA1 Reactor 1,100 MWe PWR The mid-sized GenIII+ PWR Generation III+ PWR 3-Loop MWth SG pressure 71b at 100% power 3x100% redundancy of active systems, passive safety systems and an additional backup cooling chain Backup in case of total loss of safety function Medium power output (1,100 MWe) Evolutionary design based on the EPR and MHI s APWR Outstanding safety level Minimal environmental impact The Path to Greatest Certainty Strong customer interest from GDF Suez AREVA Overview August 2010 p.31 Performance and objectives by BG

32 The KERENA Reactor 1,250 MWe BWR The mid-sized GenIII+ BWR Generation III+ BWR 3 370MWth Steam pressure 75b at 100% power Diversity of safety systems: 2 qualified active safety systems 4 qualified passive safety systems Medium power output (1,250 MWe) Design based on successful operation experience in the latest German BWRs Outstanding safety level Minimal environmental impact The Path to Greatest Certainty Strong customer interest from E.ON AREVA Overview August 2010 p.32 Performance and objectives by BG

33 AREVA EPR fleet is being deployed (1/2) EPR currently under construction 1 FRANCE 1 FINLAND FLAMANVILLE 3 under construction Supply of a Nuclear Steam Supply System OLKILUOTO 3 under construction Turnkey 2 CHINA 2 units (TAISHAN 1&2) under construction Supply of 2 Nuclear Islands EDF OL3 AREVA Overview August 2010 p.33 Performance and objectives by BG

34 AREVA EPR fleet is being deployed (2/2) EPR currently in exclusive negotiations 5 UK & FRANCE 4 EPR projects with EDF in the UK 1 EPR project in France (Penly) 5 EDF USA Unistar : 2 reactors (Calvert Cliff / Nine Mile Point) PPL : 1 reactor (Bell Blend) Duke Energy: 1 reactor (Piketon) Ameren : 1 reactor (Callaway) 4 ITALY 4 EPR projects with EDF/ENEL JV in Italy Feasibility study ongoing 2 Jaitapur site dedicated to EPR projects by Indian authorities Up to 6 units 2 INDIA Bid submitted by AREVA for first 2 units CHINA Discussions to build 2 futher units on Taishan site underway Taishan site: available for 4 further units This slide does not include bids where EPR is not in exclusive negotiations AREVA Overview August 2010 p.34 Performance and objectives by BG

35 Back-End Business Group Back-End AREVA: the global leader in used nuclear fuel management 2009 Sales: 1,637 M (19% of AREVA Sales) H Sales: 897 M Recycling of the used fuel and provider of clean-up and dismantling services 11,000 employees AREVA Overview August 2010 p.35 Performance and objectives by BG

36 Back-End Business Group An unchallenged leadership Sales 2009 split Recycling 62% Key financials Logistics 15% Cleanup 7% Nuclear Site Value Development (decommissioning) 14% Other 2% Nr 1 in used nuclear fuel management Recycling: a full service of fuel recycling, including Mixed Oxide fuel and Reprocessed Uranium fuel production Logistics: design and supply of casks for the transportation and storage of radioactive materials; also safe and secure transportation and logistics services Nuclear site value development: performance-based project management for Dismantling and Decommissioning programs; development of integrated and innovative solutions for both AREVA and external customers Cleanup: operation of dismantling and waste processing facilities, specialized nuclear maintenance Engineering: engineering services contributing to the design and construction of installations for global nuclear operators In millions of euros 2009 H H Change 10/09 ORDER BOOK 6,685 7,327 6, % SALES REVENUES 1, % OPERATING INCOME m % Sales 14 % 17.8 % 18.6 % pt OP. FCF BEFORE TAX m AREVA Overview August 2010 p.36 Performance and objectives by BG

37 A strong and unique industrial base Recycling Plant dismantling Reprocessed Uranium Fuel Fabrication La Hague Fuel treatment MELOX MOX fuel fabrication La Hague plant La Hague First generation plant dismantling Marcoule UP1 Treatment plant dismantling Cadarache MOX plant dismantling Melox plant Romans RepU fuel fabrication Tricastin RepU Enrichment and Conversion (performed by Front-End with recycled uranium supplied by Back-End) Production capacity: 1,700 tons of used fuel Production capacity: 195 tons of MOX fuel AREVA Overview August 2010 p.37 Performance and objectives by BG

38 Worldwide recognition of AREVA s leadership in Back-End Japan USA MOX Fuel Fabrication Facility under construction for DOE ($5Bn) 60% of dry storage market for US utilities Significant presence on major DOE sites A total of 3,000t of Japanese nuclear fuel has been recycled at La Hague to date MOX fuel fabrication and transportation to Japan started in 2008 First-time electricity production from MOX fuel in 2009 Successful technology provider for the Rokkashomura recycling plant (based on La Hague model) Europe EDF: framework agreement for comprehensive recycling services until Agreement on used fuel cycle management in February 2010 Other utilities: over 6,000t of fuel recycled (EON, RWE, Suez, SOGIN, etc.) and 300 casks sold Sellafield site Management & Operations Management of World s largest civilian D&D program Europe Excl. France Asia Pacific Americas 15% 8% 20% 57% France % of total 2009 sales AREVA Overview August 2010 p.38 Performance and objectives by BG

39 Renewable Energies Business Group Renewable Energies Worldwide leader in Biomass Emerging player in the offshore wind and solar sectors December 2009 Order Book: 1.1 Bn Development of wind energy, bioenergy, solar power and hydrogen power solutions 2009 Sales: 168 M (2% of AREVA Sales) 1,100 employees AREVA Overview August 2010 p.39 Performance and objectives by BG

40 Renewable Energies Business Group A fast growing worldwide player Sales 2009 split A portfolio of solutions with different technologies Biomass 54% Key financials Wind 46% Biomass: Engineering, procurement and construction (EPC) for Biomass power plants Wind: Design, manufacturing, assembly, and commissioning of the off-shore turbines, as well as Maintenance services. Concentrated Solar Power (CSP): Design, development, manufacturing and installation of solar steam generators, to build the most cost-effective CSP plants for utilities, independent power producers and industrial customers around the world Hydrogen: Development and qualification of innovative solutions for the fast growing hydrogen production market, as well as projects to demonstrate and deploy fuel-cell-basedsolutions In millions of euros 2009 H H Change 10/09 ORDER BOOK 1, , bn SALES REVENUES m OPERATING INCOME (60) (58) (59) - 1m % Sales nm nm nm nm OP. FCF BEFORE TAX (91) (27) (272) - 245m AREVA Overview August 2010 p.40 Performance and objectives by BG

41 Building a portfolio of solutions since 2001 Energy storage and vector Concentrated Solar Design and production of stationary back-up solutions (fuel cells) Design and construction of concentrated solar power plants Creation of Helion Integration of T&D Creation of the Acquisition (2001) biomass activities (2004) Business Unit of Koblitz (2008) Renewables (2006) Creation of ADAGE JV (2008) Acquisition of Ausra and creation of AREVA Solar (2010) Renewables BU becomes a Business Group (2010) Acquisition of 51% of Multibrid (2007) Acquisition of PN Rotor (2009) 2010 Acquisition of remaining shares in Multibrid (May 2010) Creation of AREVA Wind (2010) Bio-energies Off-shore Wind Design and construction of biomass fired power plants Design and production of wind offshore turbines AREVA Overview August 2010 p.41 Performance and objectives by BG

42 Major AREVA Renewables operational units aligned with market opportunities USA Bioenergy JV ADAGE Bioenergy EPC AUSRA - Concentrated Solar Thermal France Headquarter Research and development Hydrogen R&D and Manufacturing (fuel cells) Germany Wind off-shore manufacturing Windpower Research and development Blade set manufacturing Bioenergy EPC China Business development team India Bioenergy EPC Brasil Bioenergy EPC AREVA Overview August 2010 p.42 Performance and objectives by BG

43 Contents Introduction to AREVA Developments at AREVA AREVA Development Plan Performances and objectives by BG AREVA latest financial results Appendices AREVA Overview August 2010 p.43

44 Financial highlights of the first half of 2010 In millions of euros H H /09 Backlog Revenue Operating income excluding particular items % of revenue 42,909 3, % 44,062 4, % + 2.7% + 6.4% + 68m pts Organic growth *** + 5.6% Disposals / new partners - Mining/Front End assets* Project provisions** 247 (562) 19 (417) Reversible accounting adjustment on Mining assets value - (300) Operating income (170) (485) (315)m Net income Group share Net earnings per share m Operating cash flow before Capex (336) (99) + 237m Free operating cash flow (805) (1,084) (279)m Dec 31, 2009 June 30, 2009 Net debt 6,193 5,152 (1.041)bn * Including 191 million euros for sales of minority interests in the GBII enrichment plant in 2009; ** Including 367 million euros of previsions in 2010 and 550 million euros in 2009 for the OL3 project in finland; *** at constant consolidation scope and exchange rates AREVA Overview August 2010 p.44 AREVA latest financial results

45 Backlog: billion euros year-on-year Backlog (in millions of euros) + 0.8bn 44,062 42, bn 43,302 Buoyant commercial activity for recurring business Expansion in renewables June 30, 2009 Dec. 31, 2009 June 30, % AREVA Overview August 2010 p.45 AREVA latest financial results

46 Growth in all nuclear businesses Revenue (in millions of euros) (2) 4,158 3, Mining / Front End R&S Back End Renewables + 250m (+ 6.4%)* H H * + 5.6% at constant consolidation scope, accounting methods and exchange rates Average exchange rate euro / dollar for AREVA: H1 2010: vs. H1 2009: AREVA Overview August 2010 p.46 AREVA latest financial results

47 Increase in operating income excluding particular items Operating income excluding particular items (in millions of euros) Op. income excl. particular items 145m 3.7% of sales (1) (11) Op. income excl. particular items 213m 5.1% of sales Mining/ Front End R&S Back End Renewables Corp./ others + 68m (+ 46%) H H AREVA Overview August 2010 p.47 AREVA latest financial results

48 Reconciliation between operating income excluding particular items and operating income In millions of euros Op. income excl. particular items 145m Capital/dilution gain 247 Op. income excl. particular items 213m Capital gain 19 Provisions (including OL3: 550m) Provisions (including OL3: 367m) Op. income - 170m Reversible accounting adjustment on the value of certain mining assets H H Op. income - 485m AREVA Overview August 2010 p.48 AREVA latest financial results

49 Additional OL3 provision Major civil works finalized - Reactor vessel installed - Piping ramp up well under way - Preparing for commissioning New schedule contemplating startup of nuclear operations at the end of 2012 Additional provision recognized for 367 million to reflect the new schedule and conditions for the last phases of the project as notified to TVO (piping, testing and commissioning, instrumentation and control systems) Cumulated provisions recognized to date on the contract: 2.6 billion euros AREVA Overview August 2010 p.49 AREVA latest financial results

50 Reversible accounting adjustment on mining assets AREVA performs impairment tests on all mining assets as provided in IAS 36. The value of AREVA's mining assets taken as a whole was and is still largely greater than carrying costs at December 31, 2009, based on prospective uranium market data available as of that date Analysis of the new prospective uranium market data published in the second quarter of 2010, led to the recognition, in accordance with IFRS accounting principles, of a 300m impairment on the value of certain mining assets This accounting adjustment, representing around 6% of the book value of AREVA s mining assets, is non cash and subject to reversal AREVA Overview August 2010 p.50 AREVA latest financial results

51 Implementing AREVA's cost reduction plan 2010 objective: 400m including 70m in G&A and S&M cost reduction This objective is part of AREVA's cost reduction plan: - 20% in 2012 vs. actual for including 330m in purchasing performance This objective is part of AREVA's purchasing performance plan for > 5% per year Remaining objective H Remaining objective H Achieved as of end June Achieved as of end June General and administrative and sales and marketing cost savings 2010 Purchasing performance Objective : 66% reached on June 30 AREVA Overview August 2010 p.51 AREVA latest financial results

52 Reducing operating working capital requirements in the Business Groups Operating WCR (in millions of euros) H H /09 Mining/Front End BG 1,629 1,578 (51)m Reactors & Services BG (137) (309) (172)m Back End BG (1,083) (1,120) (36)m Renewables BG (18) m TOTAL Operating WCR of the BGs (162)m ( ) = source; + = use of cash Optimization initiatives in all Business Groups AREVA Overview August 2010 p.52 AREVA latest financial results

53 H Capital expenditures in line with investment program Gross capex excluding external growth operations (in millions of euros) 1, H1-09 FY 2009 H1-10 Mining/Front End R&S Back End Renewables Corporate AREVA Overview August 2010 p.53 AREVA latest financial results

54 to strengthen AREVA s leadership AREVA annual CAPEX * ( Bn) Nuclear Energy ,5 1,1 1,0 1,3 1,8 >2, e Key strategic objectives Securing access to uranium Upgrading, renewing and increasing production of key facilities (conversion with CX II; Enrichment with GB II, Eagle Rock ; Equipments facilities) Completing development and licensing of reactors Renewable Energies Development of existing assets and products (like Multibrid and AREVA Solar) Opportunistic approach for external growth on selected markets * Acquisition of property, plants and equipment and intangible assets, Excluding T&D, before disposals AREVA Overview August 2010 p.54 AREVA latest financial results

55 Free operating cash flow before tax In millions of euros EBITDA Non cash items* Change in working capital requirement Operating cash flow bef. capex Gross capex ** Disposals Free oper. cash flow before tax (23) (291) (99) + 45 (1,030) ( 1,084) Increase in EBITDA excluding particular: + 195m vs. H Lesser use of WCR in H (- 291M vs m in H1 2009) Implementation of capex programs in Mining and Enrichment + acquisitions in Renewables * with an impact on operating income ** Including acquisitions (mainly 158m in Renewables) AREVA Overview August 2010 p.55 AREVA latest financial results

56 Mining / Front End BG Key figures In millions of euros Backlog H ,055 H ,590 10/ % Orders received in H Uranium Conversion Industrias Nucleares do Brasil Enrichment US, African and European utilities Contribution to consolidated revenue 1,556 1, % AREVA's average uranium sales price continues to rise Volume increase in Mining Shift in fuel delivery schedule for EDF Operating income excluding particular items % of revenue Disposals / new partners in assets* Reversible accounting adjustment on the value of certain mining assets Contribution to operating income FCF before tax % (179) % 19 (300) (133) (210) + 47m pts - - (481)m (32)m Positive price and volume impact in Mining Reduction in mining production costs Shift in fuel delivery schedule for EDF Reversible non cash accounting adjustment on mining assets Inventory optimization (Enrichment) Capex increase, net of disposals: déploiement of capex programme (Mining and Enrichment) *Incl. 191m in 2009: new minority partners in GBII AREVA Overview August 2010 p.56 AREVA latest financial results

57 Mining Operating performance in the 1 st half of 2010 Increase in production: 4,818 TU, + 39% vs. 1 st half 2009 Reduction in production costs: - 13% vs. 1 st half 2009 Continued increase in average price of uranium sold by AREVA (+ 3.3%) Average AREVA uranium sales prices ($/lb) * Mining production costs (reference 100 in H1 2009) % % 87 H H H H *Average price for U 3 O 8 sold including trading business AREVA Overview August 2010 p.57 AREVA latest financial results

58 Reactors & Services BG Key figures Orders received in H In millions of euros Backlog H ,269 H ,964 10/09-3.7% A service contract + three steam generators I&C Slovenské Elektrárne Contribution to consolidated revenue Operating income excl. particular items % of revenue Project provisions* 1, % (562) 1, % (417) % + 16m + 1 pt - Progress in major reactor projects and buoyant recurring business in the United States and in France Services performance Reduction in overheads and marketing costs, stability in R&D costs Provisions incl. additional OL3 prov. ( 367m) Contribution to operating income Free operating cash flow before tax (552) (565) (391) (420) + 162m + 145m Increase in EBITDA (recurring business) Slight decrease in Capex Use of customer advances in line with progress at major reactor projects * Incl. OL3: 367 M in H and 550 M in H AREVA Overview August 2010 p.58 AREVA latest financial results

59 Back End BG Key figures Orders received in H Final waste processing, using the cold crucible process (European utilities) In millions of euros H H /09 MOX fuel (Japanese and European utilities) Backlog 7,327 6, % MOX fuel rod production line (Sellafield - UK) Contribution to consolidated revenue % Strong production at La Hague in the 1 st half of 2010 Contribution to operating m income % of revenue 17.8% 18.6% pt Free operating cash flow before tax m Increase in EBITDA Customer downpayments postponed to the 2 nd half of the year AREVA Overview August 2010 p.59 AREVA latest financial results

60 Back End BG Contracts and agreements signed with EDF: Implementing contract for under the framework agreement concluded In December 2008 to set operating terms at La Hague and Melox through 2040 Agreement on final payment to settle EDF's share of dismantling costs at La Hague International projects: two contracts signed for the Sellafield site in the United Kingdom Design and installation of a new MOX fuel rod fabrication line for the SMP plant, using AREVA technology Design for a high-level liquid effluent storage facility Industrial operations: production of the first batches of waste vitrified with the cold crucible technology A unique technological innovation in the world Vitrifying additional types of radioactive waste while increasing production AREVA AREVA Overview August 2010 p.60 AREVA latest financial results

61 Renewables BG Financial highlights Orders received in H In millions of euros H H /09 Bioenergy contract - Brazil Backlog 136 1, bn Expansion in the offshore wind business Contribution to consolidated revenue (2)m Decrease in biomass activity (customers experience difficulties in obtaining project financing) Contribution to operating income % of revenue (58) - (59) - (1)m - Overheads increase as the Renewables BG expands its operations Changing gearboxes provided by a supplier for the Alpha Ventus offshore wind farm Free operating cash flow before tax (27) (272) (245)m Ausra acquisition Buyout of minority holders in Multibrid AREVA Overview August 2010 p.61 AREVA latest financial results

62 Expanding Renewables BG activities AREVA Wind Alpha Ventus wind farm inaugurated- Customer: DOTI* (May 2010) Availability rate: 98% during a 90-day test phase (winter ) The M5000 turbine design is validated Technical issue identified in gearboxes related to the use of non compliant materials Gearboxes to be repaired this summer Potential customers identified for projects in Europe (North Sea) AREVA Solar Selected by CS Energy for the Kogan Creek project (Australia) Installation of a 44 MW concentrated thermal solar facility linked to a coal-fired plant Expanding steam production at the coal plant without increasing total greenhouse gas emissions Financing provided in part by the Australian government and the province of Queensland Pre-selected by the Australian government for the "Flagship" Project, in a consortium with Australian utility CS Energy Building two concentrated solar units (total capacity: 250 MW) AREVA * Deutsche Offshore Testfeld und Infrastrukturgesellschaft shareholders include E.ON, Vattenfall and EWE. AREVA Overview August 2010 p.62 AREVA latest financial results

63 Reduction in net debt In millions of euros Equity as of June 30, 2010: 8,672m Debt ratio*: 59% Dec. 31, 2009 June 30, ,133 (83) (393) (224) (6,193) ** (1,084) (6) (302) Cash impact of net financial income Forex impact on cash flow Other items (5,152) ** Free op. cash flow before tax Cash flow from end of life cycle Dividends Cash from discontinued operations * Net debt / Equity ** Debt to Siemens at 2007 value, i.e bn plus accrued interest AREVA Overview August 2010 p.63 AREVA latest financial results

64 Average debt maturity is more than 8 years* Maturity of main financial obligations (in millions of euros)** Debt to Siemens (maturing on Jan at the latest) Bond issues 2,100*** EIB loans**** Syndicated loan (Canada) 200 1, et + Syndicated facility for Uramin acquisition was repaid in June 2010 ($1.9 bn) Repayment of debt to Siemens in January 2012 at the latest (maturity date as per contract) No major debt maturing before 2016 (excluding debt to Siemens) S&P rating: BBB+/A2 with stable outlook *Excluding debt to Siemens ** Main medium/long term financial obligations*** Debt to Siemens at 2007 value, i.e bn plus accrued interest **** European Investment Bank AREVA Overview August 2010 p.64 AREVA latest financial results

65 Performance of AREVA IC Outperformance of the IC vs. CAC 40 since AREVA creation AREVA Investment Certificate vs. CAC 40 (Base 100 = 3/09/2001) Since AREVA creation Dec-01Jun-02 Dec-02 Jun-03 Dec-03 Jun-04 Dec-04 Jun-05 Dec-05 Jun-06 Déc-06 Jun-07 Dec-07 Jun-08 Dec-08 Jun-09 Déc Aug-2010 AREVA IC CAC 40 AREVA Overview August 2010 p.65 AREVA latest financial results

66 AREVA current ownership structure Investment Certificate Holders* (free float) 4% French State CDC 8% 4% Total Calyon EDF 2% 4% 1% 1% 0.4% Framépargne** CEA 79% French Atomic Energy Research Organization, public body established in 1945 Active in three main fields : Energy, information and health technologies, defense and national security By law, CEA must retain the majority of AREVA s capital 3.4Bn annual spending (2007) French financial organization created in 1816, part of the Government institutions under the control of the Parliament 79% CEA* CDC 4% Invests in long-term projects to serve France s public interests and economic development; supports public policies, companies and local authorities AAA/Aaa with a consolidated balance sheet of 221Bn Total French State: 92% Note: Shareholding structure as at 29/10/2009 *. CEA owns all of the voting rights certificates ** Employees shareholding in AREVA AREVA Overview August 2010 p.66 AREVA latest financial results

67 Contents Introduction to AREVA Developments at AREVA AREVA Development Plan Performances and objectives by BG AREVA latest financial results Appendices AREVA Overview August 2010 p.1

68 Appendices Focus on AREVA Business Model Financials Nuclear: a critical part of the solution Mining business details Conversion/ Enrichment/ Fuel business details Reactors & Services business details Back-End business details Renewable Energies business details AREVA Overview August 2010 p.2

69 AREVA integrated offers cover customer needs Selected integrated offers URANIUM CONVERSION ENRICHMENT FUEL NEW BUILDS INSTALLED BASE SERVICES BACK END RENEWABLE ENERGY SOURCES NPCIL Business in 2005 Businesses, JV & contracts in 2009 Negotiations in progress in 2009 AREVA Overview August 2010 p.3 Appendices - Focus on AREVA Business Model

70 AREVA can rely on a resilient business model to expand Installed base business model ensuring strong cash-flow generation Installed base revenue vs. new builds (millions of ) New build Installed based business 80% of the nuclear business is recurrent Capex supported by the sale of the new facilities future production % of the nuclear business example: 90% of GB II production through 2020 is already in backlog Source: AREVA strategic plan AREVA Overview August 2010 p.4 Appendices - Focus on AREVA Business Model

71 The group benefits from a strong and successful culture of partnerships* Consolidation in Front-End activities Reactor and services development Joint mining operations in Niger Since 2004, long-lasting partnerships to develop mines in Canada Equity stakes in Georges Besse II (GBII) new enrichment plant Supply of I&C systems in Slovakia MWe boiling water reactor : MWe pressurized water reactor : Heavy component manufacturing site in the US Strengthening Back-end techniques Expanding knowledge in Renewables Transportation, treatment and recycling of used nuclear fuel JV in engineering in China Partnership in biomass in India Development of the biomass market in the United States 5 *Non exhaustive list AREVA Overview August 2010 p.5 Appendices - Focus on AREVA Business Model

72 Focus on AREVA Business Model Appendices Financials Nuclear: a critical part of the solution Mining business details Conversion/ Enrichment/ Fuel business details Reactors & Services business details Back-End business details Renewable Energies business details AREVA Overview August 2010 p.6

73 Non-operating items In millions of euros H H /09 Operating income (170) (485) (315)m Net financial income 230 (172) (402)m Equity affiliates (163) m Income tax (34) (242) + 276m Net income from discontinued operations 144 1, ,096m Net income for the period m Including minority interests (154) m Incl. net income group share m Net earnings per share (in euros) AREVA Overview April 2010 p.7 Appendices - Financials

74 Net financial income In millions of euros H H /09 End of life-cycle operations including: 29 (11) (40)m Income from financial portfolio Income from receivables and discount reversal on earmarked assets Discount reversal expenses (95) (118) + 14m (30)m (23)m Net borrowing costs (40) (81) (41)m Net gain on sales of securities 242 (1) (243)m Discount reversal: pensions and other benefits (40) (38) + 2m Other income and expenses 37 (41) (78)m Net financial income 230 (172) (402)m AREVA Overview April 2010 p.8 Appendices - Financials

75 Share in net income of associates In millions of euros H H /09 STMicroelectronics (124) Eramet group (39) Other Total (163) AREVA Overview April 2010 p.9 Appendices - Financials

76 Change in net debt In millions of euros Net debt at beginning of period EBITDA from operations (excl. end-of-life-cycle costs) % of revenue Income (loss) on sales of non-current operating assets Change Operating WCR Net operating Capex Free operating cash flow before tax End-of-life-cycle obligations Dividends paid Other (net financial investments, income tax, non operating WCR, etc.) Change in net cash or (debt) Net debt at the end of the period H (6,193) % (23) (291) (985) (1,084) (6) (302) 2,433 1,041 (5,152) AREVA Overview April 2010 p.10 Appendices - Financials

77 Simplified Balance sheet at June 30, 2010 In billions of euros Goodwill 4,7 8,7 Total equity Non-current assets 9,5 5,8 Provisions for end-of-life-cycle operations Assets earmarked for end-of-life-cycle operations 5,6 2,0 1,5 Other provisions Other assets and liabilities Equity affiliates Non-current financial assets Operating WCR 1,8 1,1 0,4 Simplified assets = 23.2 = 5,2 Simplified liabilities Net debt*: (5,152)m * Debt to Siemens at 2007 value, i.e bn plus accrued interest AREVA Overview April 2010 p.11 Appendices - Financials

78 Consolidated Balance sheet at June 30, 2010 End-of-lifecycle operations End-of-life-cycle operations at June 30, 2010 (in millions of euros) 5, ,284 Receivables 1,879 5, ,517 The law of June 28, 2006 on sustainable management of radioactive materials and waste requires that 100% of provisions for end-of-life-cycle operations be covered by earmarked assets effective June 28, ,284 Dedicated portfolio 3,405 At June 30, 2010, AREVA's coverage of activities subject to the law of June 28, 2006 was 98% Assets Breakdown of AREVA's assets Provisions The ratio for all AREVA group activities was 96% AREVA Third party share AREVA Overview April 2010 p.12 Appendices - Financials

79 Consolidated income statement In millions of euros Revenue Other income from operations Cost of sales Gross margin Research and development expenses Marketing and sales expenses General and administrative expenses Other operating income and expenses Operating income Income from cash and cash equivalents Gross borrowing costs Net borrowing costs Other financial income and expenses Net financial income Income tax Net income of consolidated businesses Share in net income of associates Net income from continuing operations Net income from discontinued operations or operations held for sale Net income for the period including minority interests Net income attributable to owners of the parent June 30, , (3,780) 390 (162) (145) (284) (284) (485) 17 (98) (81) (90) (172) 242 (415) 46 (369) 1, June 30, , (3,706) 240 (163) (135) (304) 192 (170) 4 (45) (40) (34) 26 (163) (137) (154) 161 AREVA Overview April 2010 p.13 Appendices - Financials

80 Consolidated balance sheet (1/2) ASSETS (in millions of euros) Non-current assets Goodwill on consolidated companies Intangible assets Property, plant and equipment End-of-life-cycle assets (third party share) Assets earmarked to finance end-of-life-cycle operations Investments in associates Other non-current financial assets Pension fund assets Deferred tax assets Current assets Inventories and work-in-process Trade accounts receivable and related accounts Other operating receivables Current tax assets Other non-operating receivables Cash and cash equivalents Other current financial assets Assets of operations held for sale Total assets June 30, ,829 4,749 3,586 5, ,284 1,844 1, ,029 9,662 2,908 2,789 2, , ,492 June 30, ,875 4,366 3,282 5, ,351 1, ,175 2,699 2,161 1, , ,649 36,050 AREVA Overview April 2010 p.14 Appendices - Financials

81 Consolidated balance sheet (2/2) LIABILITIES AND SHAREHOLDERS' EQUITY (in millions of euros) Equity and minority interests Share capital Consolidated premiums and reserves Deferred unrealized gains and losses on financial instruments Currency translation reserves Net income attributable to owners of the parent Minority interests Non-current liabilities Employee benefits Provisions for end-of-life-cycle operations Other non-current provisions Long-term borrowings Deferred tax liabilities Current liabilities Current provisions Short-term borrowings Advances and prepayments received Trade accounts payable and related accounts Other operating liabilities Current tax liabilities Other non-operating liabilities Liabilities of operations held for sale Total liabilities and equity June 30, ,672 1,347 5, ,584 1,118 5, , ,236 1, ,933 1,732 2, ,492 June 30, ,574 1,347 4, (155) ,408 1,121 5, , ,068 1,696 1,869 3,893 1,567 2, ,685 36,050 AREVA Overview April 2010 p.15 Appendices - Financials

82 Key Figures by Division (1/3) H In millions of euros (excluding workforce) Mining/ Front End Reactors & Services Back End Renewables Corporate Total Group Contrib. to consolidated revenue 1,593 1, ,158 Income statement Operating income (133) (391) 167 (59) (69) (485) % of contrib. to revenue % % 18.6% % % % EBITDA (excl. end-of-life-cycle costs) 310 (199) 267 (44) (118) 215 % of contrib. to revenue 19.4% % 29.7% % % 5.2% Cash Net Capex (645) (113) (41) (170) (16) (985) Change in operating WCR 146 (108) (122) (58) (149) (291) Free operating cash flow (210) (420) 102 (272) (284) (1,084) Other Employees 14,387 17,651 11,040 1,133 3,979 48,190 AREVA Overview April 2010 p.16 Appendices - Financials

83 Key Figures by Division (2/3) H In millions of euros (excluding workforce) Mining/ Front End Reactors & Services Back End Renewables Corporate Total Group Income statement Contrib. to consolidated revenue Operating income 1, ,382 (552) (58) 78 (58) 3,908 (170) % of contrib. to revenue 22.4% % 17.8 % % % - 4.4% EBITDA (excl. end-of-life-cycle costs) 438 (292) 198 (50) (46) 248 % of contrib. to revenue 28.1% % 23.5% % % 6.3% Cash Net Capex (235) (151) (50) (9) (24) (469) Change in operating WCR (212) (121) (88) 32 (24) (413) Free operating cash flow (179) (565) 60 (27) (94) (805) Other Employees 14,688 17,178 10, ,619 47,113 AREVA Overview April 2010 p.17 Appendices - Financials

84 Key Figures by Division (3/3) FY 2009 In millions of euros (except staff) Front End Reactors and Services Back End Corporate Activities currently being disposed of (T&D) Total Group Contribution to consolidated revenue 3,471 3,418 1, ,529 Income Operating Income 659* (626) 235 (171) 97 % of contrib. to consolidated revenue 19.0% % 14.4% - 1.1% EBITDA (excl. end-of-life cycle expenses) 917 (538) 367 (162) 584 % of contrib. to consolidated revenue 26.4% % 22.4% - 6.9% Cash Net capex. (738) (402) (128) (26) (1,294) Change in operating WCR (185) Free operating cash flow (315) (736) 288 (157) (919) Others Staff 14,763 21,003 11, ,627 79,444 * Including capital gains from the sale of minority interests in GBII ( 191M) and Imouraren ( 131M) AREVA Overview April 2010 p.18 Appendices - Financials

85 Appendices Focus on AREVA Business Model Financials Nuclear: a critical part of the solution Mining business details Conversion/ Enrichment/ Fuel business details Reactors & Services business details Back-End business details Renewable Energies business details AREVA Overview April 2010 p.19

86 Key competing dimensions for electricity generation Stakeholders Governments Utilities Consumers Economic Low cost of electricity & robust profitability Electricity cost certainty Reliable Security of supply Safety & performance Sustainable Low environmental impact Recyclable AREVA Overview April 2010 p.20 Appendices Nuclear: a critical part of the solution

87 Nuclear production cost is transparent and comprehensive Total electricity production cost Used fuel management Decommissioning Used fuel transportation/storage Recycling Long term final disposal of waste Nuclear power plant decommissioning & dismantling Site restoration Capital costs Operating costs Financing Engineering Procurement Components Installation & commissioning Licensing Fuel cost Operations & Maintenance costs Capital and Operating costs Environmental cost Environmental cost is fully provisioned No cost passed to future generations Source: AREVA analysis AREVA Overview April 2010 p.21 Appendices Nuclear: a critical part of the solution

88 Nuclear, unlike competing technologies, has limited dependency on fuel and carbon prices Methodology The production cost (also called Levelised Cost Of Electricity) includes all the expenses related to the power plant from its construction to the operation and final decommissioning. It is the minimum electricity price beyond which a project is profitable The production cost is a common standard in the power industry. It is a relavant indicator to compare the cost of electricity and attractiveness between different technologies with different lifetimes and cost structures Typical breakdown of production costs Commissioning in 2020 baseload operations % Nuclear EPR Coal Gas - CCGT Carbon Fuel Capital & operations Source: AREVA analysis Carbon value 30 /tco 2 AREVA Overview April 2010 p.22 Appendices Nuclear: a critical part of the solution

89 Scenarios approach is a way to capture the uncertain evolution of energy markets Competitiveness of baseload technologies depends on the evolution of key parameters that are difficult to forecast E.g. uncertainty on carbon prices European CO 2 price estimates in 2020 ( /tco 2 ) E.g. uncertainty on fuel prices evolution Coal and gas prices over last 3 years ($/MMBtu) Gas AREVA has developed four contrasting scenarios to capture probable future energy markets Each scenario details for the 2020 horizon a coherent combination of key parameters Fuel prices (oil, coal, gas) CO 2 prices Power demand evolution Renewable penetration Carbon Capture and Sequestration costs 2020 is the relevant time horizon when looking at an investment in nuclear 5 Coal 0 Jan 2008 Jul 2008 Jan 2009 Source: Bloomberg (Gas Henry Hub, Coal CIF ARA) AREVA Overview April 2010 p.23 Appendices Nuclear: a critical part of the solution

90 2020 Energy Scenarios Matrix 4 contrasting visions of the future energy world Emerging economies driving global growth Very high energy demand, high fuel prices, increase in energy efficiency and strong CO2-free technologies penetration Green push Concerted battle against climate change, commitment in pushing green technologies, low demand for fossil fuel Traditional security of supply Security of supply is the main concern, high energy prices, weak cooperation between countries limits fight against climate change Slow down in global growth Low pressure on energy supply, low fuel prices, governments pursue fight against climate change For each scenario, the associated production costs and net present values of different baseload technologies are assessed AREVA Overview April 2010 p.24 Appendices Nuclear: a critical part of the solution

91 Comparison of production costs in Western Europe Baseload operations commissioning in /MWh Cost range depending on Energy Scenarios Gas 7 to 16 $/MMBtu Coal 60 to 120 $/t Carbon 20 to 50 /tco 2 Cost range depending on project specificities Country regulation, political support Number of units, existing/new site Procurement & labor costs Investment costs consistent with actual bids 40 Consistent with utilities estimates for specific nuclear projects 0 Gas - CCGT Coal Nuclear EPR Source: AREVA analysis, E.ON and EDF communication Investment costs and commodity prices based on AREVA assumptions AREVA Overview April 2010 p.25 Appendices Nuclear: a critical part of the solution

92 Nuclear cost stability contributes to electricity prices stabilization Evolution of industrial electricity price in France and Italy Correlation with oil prices 07 /MWh $ 08 /bbl 110 Oil Generation mix average Italy Other Italy Oil + gas Oil + gas Other 60 France France Nuclear Source: AREVA analysis AREVA Overview April 2010 p.26 Appendices Nuclear: a critical part of the solution

93 Primary uranium resources are well distributed and sufficient for Gen 3 Uranium resources are sufficient for Gen 3 Uranium resources are well distributed Conventional fissile resources based on Share of resources today s consumption years 1 % 100% Conventional fissile resources represent more than 200 years of today s world demand Identified resources Undiscovered resources X 50 Gen 4 potential Source: Redbook IAEA, DOE 1. Resources valuation based on 2007 world uranium consumption 2. No major coal reserve constraint. However potential CO 2 storage capacity constraints for some areas AREVA Overview April 2010 p.27 80% 60% 40% 20% 0% 76% 7% 17% Oil Clean coal (CCS) 2 63% 29% 8% Gas 35% 26% 39% Uranium Appendices Nuclear: a critical part of the solution Rest of the world Brasil, Russia, India China, South Africa OECD countries

94 AREVA reactors set the world standard in safety 1650 MWe PWR EPR example Main safety features 1250 MWe BWR Double-shell containment Airplane crash protection Core catcher 1100 MWe PWR 4x100% safety trains AREVA Overview April 2010 p.28 Appendices Nuclear: a critical part of the solution

95 Comparison of greenhouse gas emissions Baseload technologies emissions measured for the all lifecycle of the plant Nuclear power has a very low carbon footprint gco 2 eq/kwh Breakdown of nuclear GHG emissions For a nuclear PWR located in Switzerland Mining Conversion Enrichment Fuel fabrication Reactor Upstream Reactor 400 Reprocessing Interim storage Downstream Coal Gas Nuclear Other Total gco 2 eq/kwh Source: IAEA (Weisser 2006), Paul Scherrer Institute (Dones 2003) AREVA Overview April 2010 p.29 Appendices Nuclear: a critical part of the solution

96 Nuclear power has very low externalities Methodology Comparison of quantifiable external costs 2009 Sites in Central Europe External costs assessment is a monetary valuation of damages accounting for market and nonmarket costs of externalities (pollutants, noise, greenhouse gases, radiations, accidents ) Externalities of all stages of the production process are considered, including construction, dismantling, fuel cycle The external cost method relies on 3 steps: emission assessment, environmental impact assessment and monetary valuation Coal Gas CCGT Nuclear Greenhouse gases (incl. health, coastal and economic impacts due to global warming) Biodiversity loss & human health (incl. reduction in life expectancy due to pollutants, ecosystem impacts) Other impacts /MWh Source: Stuttgart university for the European Commission NEEDS project, 2009 AREVA Overview April 2010 p.30 Appendices Nuclear: a critical part of the solution

97 Public and political support for nuclear power has improved significantly An increasingly larger part of public favors nuclear energy Many recent favorable political actions towards nuclear energy Share of US public favoring use of nuclear energy 80% 60% % 70% January 2010: President Obama, But to create more of these clean energy jobs building a new generation of safe, clean nuclear power plants in this country July 2009: End of nuclear energy ban put in place in % 46% February 2009: Swedish government planning to end a three-decade ban on building new nuclear reactors 20% Source: Bisconti Research Inc., 2009 AREVA Overview April 2010 p.31 January 2008: UK government giving go-ahead for new generation of nuclear power stations to be built Appendices Nuclear: a critical part of the solution

98 Numerous countries have nuclear power plant projects US 4 COL submitted selecting the EPR One of the 3 designs short-listed for Federal Loan Guarantees 31 countries operating nuclear power plants UK Target * : 10 GWe by 2030 EPR selected by EDF & under consideration by 2 more JVs FRANCE Flamanville 3 (EPR) under construction Penly: 2 nd EPR by 2017 Possible 3 rd EPR ITALY Target * : 10 to 15GWe by 2030 EDF-Enel JV to build at least 4 EPR NETHERLANDS 1 new reactor by 2018 CZECH REPUBLIC 1 bid for 2 reactors JORDAN Target*: 2 plants FINLAND Olkiluoto 3 (EPR) under construction. Up to 3 new reactors to be built before 2025 CHINA 21 reactors under construction of which 2 EPR Target * : 40 GWe by 2020 (opportunity for EPR and Gen 2 reactors) INDIA 5 reactors under construction Target * : 20 GWe by 2020 MoU with NPCIL for up to 6 EPR 34 countries considering starting a civil nuclear program or having expressed interest SOUTH-AFRICA Nuclear program on hold Source: WNA and AREVA analysis As of end of 2009 AREVA Overview April 2010 p.32 (*) : Nuclear generation capacity announced by countries Appendices Nuclear: a critical part of the solution

99 437 nuclear reactors in 2010 and more to come from the East North America 2 Western Europe CIS & Eastern Europe Southern & Eastern Asia 4 1 Africa & Middle East South America Source: WNA & AREVA, as of end of 2009 In service Under construction AREVA Overview August 2010 p.33 Appendices Nuclear: a critical part of the solution

100 Focus on AREVA Business Model Appendices Financials Nuclear: a critical part of the solution Mining business details Conversion/ Enrichment/ Fuel business details Reactors & Services business details Back-End business details Renewable Energies business details AREVA Overview August 2010 p.34

101 A long standing effort and global exploration portfolio is key Major deposits discovered by / with AREVA Gabon Bakouma Exploration budget (M ) Arlit Exploration Staff (# FTE) Cominak Cluff Lake Imouraren Canada 1981 Cigar Lake Quebec AMERICA Since McArthur AREVA exploration portfolio EUROPE Since 1947 Senegal Niger CAR Gabon 1997 Shea creek Jordan AFRICA Since 1950 Namibia 2003 Dulaan Uul Russia Kazakhstan Mongolia Uzbekistan 2008 Tamgak Deep ASIA Since 1995 Australia OCEANIA Since AREVA Overview August 2010 p.35 Appendices Mining business details

102 to reach a level of resources ensuring production sustainability and offering clients long term visibility AREVA resources Canada France 168,865 MTU 11,590 MTU USA 12,563 MTU Niger 202,695 MTU Namibia CAR 45,423 MTU 28,357 MTU AREVA resources (1) (MTU) Proven + probable reserves (2) 208,645 Measured + indicated resources 88,401 Inf 182,486 Other measured + indicated resources 51,680 Other Inf 5,923 TOTAL 537,135 Kazakhstan 44,447 MTU Mongolia 9,888 MTU Australia South Africa 7,585 MTU 5,722 MTU Our Resources and Reserves level allow production sustainability for more than 20 years given our production targets This long term visibility is a key commercial advantage as clients tend to anticipate their fuel supply Note: (1) Accessible AREVA share, (2) mine and plant yields included AREVA Overview August 2010 p.36 Appendices Mining business details

103 AREVA handles various mining projects at different development stages (1/2) PROSPECTION SHOWING PREFEASIBILITY FEASIBILITY Mongolia Australia Jordan Canada Kazakhstan Niger Namibia Ryst Kuil Kiggavik Shea Creek Millenium Dawn Lake Bakouma Midwest RESOURCES Mc Clean Mc Arthur Somaïr Cominak Muyunkum Tortkuduk Heap leaching Somaïr Trekkopje Imouraren Cigar Lake RESERVES French Mines Comuf (Gabon) Cluff Lake (Canada) New productions between 2009 and 2013 ~ 15 years ~ 5 years GRASS ROOT EXPLORATION DETAILED EXPLORATION RECONNAISSANCE DRILLING DELINEATION DRILLING DEVELOPMENT PRODUCTION REMEDIATION Exploration Licence Mining Lease Process AREVA Overview August 2010 p.37 Appendices Mining business details

104 with a project launch sequence optimizing capital spending thanks to our diverse portfolio Estimated possible production start up (*) Katco : +2,500 tu (successful ramp-up) Somaïr: +1,200 tu Trekkopje : 3,000 tu Imouraren : +5,000 tu Cigar Lake : +2,600 tu Bakouma : +2,000 tu Midwest, Kiggavik, Shea Creek Ryst Kuil Sainshand * Production figures: 100% except Midwest & Cigar AREVA share More than 10 major production projects are on track 4 of them will come progressively online by 2012 to reach our objective of doubling production The diversity of our projects portfolio allows us to optimize capital allocation and adapt to market conditions AREVA Overview August 2010 p.38 Appendices Mining business details

105 Conventional fissile resources represent more than 200 years of 2009 world demand Cost of recovery $/kgu < to 80 Reasonably Assured Resources CATEGORY of Uranium resources (million tons = Mt) Conventional Identified (deposits) Undiscovered Inferred Resources Prognosticated Resources Speculative Resources Based on direct geological evidence 2 Based on indirect geological evidence 3 Extrapolated values 80 to 130 > 130 Subtotal General total ? General total of conventional resources: 16,009,100 t World demand in 2009*: less than 66,000 t Resources: > 200 times 2009 demand Unconventional 15 to 25 + With Gen IV Fast Breeder Reactor, resources are virtually unlimited *WNA estimate for 2009 Source: Nuclear Energy Agency "Uranium 2007: Resources, Production and Demand" AREVA Overview August 2010 p.39 Appendices Mining business details

106 Focus on AREVA Business Model Appendices Financials Nuclear: a critical part of the solution Mining business details Conversion/ Enrichment/ Fuel business details Reactors & Services business details Back-End business details Renewable Energies business details AREVA Overview August 2010 p.40

107 COMURHEX II - FRANCE AREVA is renewing and extending its conversion capacities All conversion facilities worldwide are old AREVA is the first to invest in a brand new conversion facility Extendable Capacity: 15,000 tu per year, extendable to 21,000 tu only with market support Proven Comurhex process, but with technological innovations to be ahead of power curve for evolution of environmental and safety standards Pierrelatte Malvési Pierrelatte Malvési End 2012: Production start-up : Production ramp-up to reach 15,000 tu per year : Potential additional ramp-up to 21,000 tu per year if market conditions are met Comurhex II plant will come online at the right time to reap the benefits of nuclear expansion AREVA Overview August 2010 p.41 Appendices Conversion/ Enrichment/ Fuel business details

108 Two main enrichment processes; Centrifugation is the new state-of-the-art Gaseous Diffusion Gaseous Centrifugation Using gaseous diffusion technology, Georges Besse has been offering the best in terms of safety, security and flexibility for 30 years. No disruption of supply since production launch in 1979 High flexibility with regard to levels of enrichment The current plant will serve as a bridge until new centrifuge plants are online Centrifuge technology is now considered by all players as the most efficient enrichment technology Used in Georges Besse II and EREF, the TC12 centrifuge has been a proven technology since 1992 This design of centrifuge offers the best levels of cost efficiency, energy savings, technical reliability and environmental impact Modular conception that allows extension AREVA Overview August 2010 p.42 Appendices Conversion/ Enrichment/ Fuel business details

109 AREVA supplies fuel assemblies and associated services and products A fuel assembly is a bundle of zirconium rods containing the enriched uranium Overview of AREVA Fuel activities Fuel assemblies UO 2 assemblies for various reactor designs of the installed base and for AREVA new builds MOX/ERU assemblies Fuelrelated services Field work: handling, inspection and repair of fuel assemblies Engineering work: services linked to fuel optimization and plant uprates Enriched uranium pellets are loaded into zirconium rods Tubes are bundled together in an assembly with grids Secondary products Zirconium products (tubes, flat products, etc) Other products (components, uranium powder, etc) AREVA Overview August 2010 p.43 Appendices Conversion/ Enrichment/ Fuel business details

110 AREVA, a Major global fuel supplier Europe market US market 19% 44% 23% 24% AREVA Westinghouse / Enusa+Toshiba+ NFI 37% 34% 19% GNF GENUSA Others AREVA n 1 in Europe and key challenger in the USA Source : Nuclear Assurance Corporation (Fuel Trac édition 10/2009); Average value over /- 1 year AREVA Overview August 2010 p.44 Appendices Conversion/ Enrichment/ Fuel business details

111 Focus on AREVA Business Model Appendices Financials Nuclear: a critical part of the solution Mining business details Conversion/ Enrichment/ Fuel business details Reactors & Services business details Back-End business details Renewable Energies business details AREVA Overview August 2010 p.45

112 50% of WW nuclear fleet is over 25 years 129 reactors out of 437 are over 30 years Pyramid of ages 437 nuclear plants WW nuclear fleet (Data as of January 2010) Number of Reactors Age (in years) A need for re-investments in the existing fleet Source: IEAE International Status & Prospects of Nuclear Power (2010) Data as of January 2010 AREVA Overview August 2010 p.46 Appendices Reactors & Services business details

113 The new build business focuses on the Nuclear island : 50~60% of the total EPR price NSSS+BnI: 50~60% AREVA Conventional island* 15~20% Ex.: Alstom, Siemens,.. Balance of plant 5~10% Various suppliers Civil works** 15~25% Ex.: Bouygues,.. Note: Actual price of an EPR reactor and price proportions varies according to customer, country and project specificities * Steam turbine, power generator, cooling systems, grid interface ** Civil works costs includes nuclear island, conventional island and balance of plant civil works costs AREVA Overview August 2010 p.47 Appendices Reactors & Services business details

114 Main components of PWR coolant system 1 Reactor vessel 5 2 Control rod drive mechanisms 3 3 Steam generator 2 4 Reactor coolant pump 4 5 Pressurizer 1 AREVA Overview August 2010 p.48 Appendices Reactors & Services business details

115 PWR steam generator Design Commissioning FUNCTIONS to transfer heat and ensure leak-tightness between the primary (P) and secondary (S) circuits DUTY mechanical effects of the circulating P and S flows chemical effects of the P and S fluids nominal and transient temperatures and pressures on P and S sides MATERIALS nickel-based alloy (tubes), low internal alloy carbon steel (structures) with a stainless steel layer the water chamber (P side) DIMENSIONS & WEIGHT: Heat transfer surface: 4,700 to 7,000 square meters height: 20 to 22 meters diameter: 3.5 to 5 meters weight (empty): 300 to 420 metric tons AREVA Overview August 2010 p.49 Appendices Reactors & Services business details

116 Focus on AREVA Business Model Appendices Financials Nuclear: a critical part of the solution Mining business details Conversion/ Enrichment/ Fuel business details Reactors & Services business details Back-End business details Renewable Energies business details AREVA Overview August 2010 p.50

117 Overview of recycling process Nuclear reactor Recycled fuel MOX Reprocessed uranium fuel Used Fuel Long-term storage and disposal Vitrified Waste Compacted Waste AREVA Overview August 2010 p.51 Appendices Back-End business details

118 Recycling offers key benefits Natural resources savings Used fuel contains 96% of reusable materials Up to 25% natural uranium savings Improved ultimate waste management Volume of ultimate waste divided by 5 Waste toxicity divided by 10 Standard, durable, specifically designed waste forms and containers Reinforced economic interest of recycling Demonstrated competitiveness vs. once-through strategy Ability to control overall back-end costs based on proven 40-year industrial track record While ensuring Health, Safety and Environmental protection AREVA Overview August 2010 p.52 Appendices Back-End business details

119 Used fuel recycling is a competitive solution compared to direct disposal Methodology For both options (recycling and direct disposal), all costs at each stage of the production process are considered. Economic comparison of recycling and direct disposal options /kg used fuel Sales of recycled materials: a used fuel assembly contains 96% of recyclable materials. The plutonium and uranium recovered during recycling operations are used to manufacture recycled fuel. This fuel is then used in light water reactors and is thus comparable in value to fresh fuel. Therefore, recycled fuel creates value (i.e. credits) which offsets a significant part of the recycling costs. UNCERTAIN COSTS Ultimate waste final disposal CONTROLLED COSTS Interim storage Recycling Transport UNCERTAIN COSTS Used fuel final disposal Encapsulation CONTROLLED COSTS Interim storage Transport Production costs Sales of recycled materials Net cost Production costs Source: AREVA analysis AREVA Overview August 2010 p.53 Recycling Direct disposal Appendices Back-End business details

120 Recycling strengthens non-proliferation Recycling restricted to a few regional centers under strict international safeguards Offering recycling services to a wide range of customers Avoiding the accumulation of used fuel in multiple storage sites worldwide Returning to customers final waste not subject to AIEA safeguards Plutonium recycled in MOX fuel Consumes roughly one third of the plutonium Significantly degrades the isotopic composition of the remaining plutonium and thus the potential attractiveness for non-peaceful usage Recycling facilities such as La Hague and Melox have a perfect track record with respect to fissile materials safeguards Recycling contributes to international non-proliferation initiatives Weapon-grade plutonium disposition (MFFF project) Securing «gap material» (DOE) AREVA Overview August 2010 p.54 Appendices Back-End business details

121 Recycled fuels performance in reactors MOX & Reprocessed Uranium fuels can accommodate all Light Water Reactors (80% of worldwide nuclear capacity) For utilities, recycled fuels have outstanding performance Excellent reliability track record Equal energy performance compared to natural uranium MOX in-core behavior similar to Uranium fuel under normal and accidental conditions EPR designed to accommodate up to 100% of its fuel as MOX AREVA Overview August 2010 p.55 Appendices Back-End business details

122 AREVA: N 1 worldwide in treatment of nuclear fuel Treatment capacity for light water reactors fuel (tons/year) Cumulative production, as of dec (tons) , , AREVA La Hague 900 Sellafield Ltd. Max. 400 Rosatom 800 JNFL / Rokkasho Mura AREVA 4,010 4,200 Sellafield Ltd. Rosatom 420 JNFL Source: AREVA, World Nuclear Association As of today, AREVA treated ~75% of the fuel worldwide, i.e ~ tons out of tons AREVA Overview August 2010 p.56 Appendices Back-End business details

123 AREVA: N 1 worldwide in MOX fuel fabrication MOX fuel production capacity (tons of MOX / year) Cumulative production, as of dec (tons of MOX) AREVA Melox 120 SMP 130 Design phase J-MOX* AREVA Melox 40 SMP J-MOX *data of December 2008 AREVA Overview August 2010 p.57 Appendices Back-End business details

124 AREVA logistics activities Casks supply Design & licensing of dry storage and transport casks Manufacturing of casks Transport and fleet management Road transport of radioactive materials Operations of railway and maritime facilities Organization of transports incl. real-time monitoring Cask and safety vehicle maintenance on site Maintenance of safety vehicles Management of site supply chain Risk assessment and crisis management AREVA Overview August 2010 p.58 Appendices Back-End business details

125 Focus on AREVA Business Model Appendices Financials Nuclear: a critical part of the solution Mining business details Conversion/ Enrichment/ Fuel business details Reactors & Services business details Back-End business details Renewable Energies business details AREVA Overview August 2010 p.59

126 Synergies between Nuclear and Renewable activities Topline synergies Established relationship with numerous utilities in many countries One-stop-shop for complementary low-co 2 electricity generation solutions AREVA brand Technical know-how and R&D capacity EPC and project management Thermal transfer and steam management Corrosion, welding and nanotechnologies Financial guarantees AREVA financial strength Innovative project financing solutions (cofinancing ) AREVA Overview August 2010 p.60 Appendices Renewable Energies business details

127 Throughout the world, governments are supporting the development of renewable energies France Targets by 2020:»> 20% of renewable energies in the energy mix by 2020 Incentives:»Off shore: stimulation to favor national champions»biomass: feed-in tariffs (~145 in average) Targets:»Double US capacity to generate renewable energy over the next few years Incentives:»Over $60 billion in clean energy investments (American Recovery and Reinvestment Act) : loan guarantees, tax incentives and public investment) USA Targets by 2020:»E.U renewable energies = 20% energy total consumption Incentives:»Off Shore: stimulation policies (e.g. UK : in 2009 site pre- selection + subsidiaries for investment + tax exemption)»biomass: feed-in-tariffs (~ 95 /MWh in Germany) Europe (excl. France) Targets:»Renewable energy consumption =10 % of the total energy consumption by 2010 and 15% by 2020 (30GW of wind power & 30GW of Biomass) Incentives:»Central government financial authority s renewable energy fund to support renewable energy development»biomass: (e.g. for 2006 subsidy of 0.25 Yuan (US $0.03) per kilowatt-hour for biomass China 1 1 Chinese targets and incentives set in the past years are being revised and increased. For instance Wind installed capacity is already 25GWe. AREVA Overview August 2010 p.61 Appendices Renewable Energies business details

128 Achieved critical milestones (1/2) Off-shore Wind Market leadership First 5MW WTG wind farm commissioned globally Industrialization 6X5MW WTGs installed & commissioned in Oct. 10 AREVA Multibrid Bio-energies AREVA Market leadership Bioenergy leader with an installed base higher than 2,500MW of high capacity biomass power plants Industrialization Critical technology advantage through new products development such as pyrolysis Growth champion Order intake x2 since 2008 by bringing technical packaged customer solutions AREVA Overview August 2010 p.62 Appendices Renewable Energies business details

129 Achieved critical milestones (2/2) Concentrated Solar Thermal Market leadership Cutting hedge technology providing sustainable competitive advantage Industrialization Bilateral agreements higher than ~$300M of opportunities Booming market Leadership position in a fast growing market (c. 10% CAGR over ) Energy Vector and Storage Market leadership Hydrogen storage demonstration coupled with solar PV on Myrte project Industrialization Proof of concept for breakthroughs and industrialization for cost reduction AREVA Overview August 2010 p.63 Appendices Renewable Energies business details

130 Offshore Wind Power AREVA offers a unique Offshore value proposition Multibrid turbines M5000 The most powerful offshore turbine on the market (5 MW) A leading edge position on a market favourable to high power turbines 5 MW 3.6 MW A wind turbine designed specifically for harsh sea conditions A light-weight structure, providing customer with A facilitated installation and maintenance The best weight / power ratio available on the market Offshore wind activities covering Design, manufacturing, assembly, and commissioning of the off-shore turbines Maintenance services Source: New Energy Finance 11/04/2008, Companies AREVA Overview August 2010 p.64 Appendices Renewable Energies business details

131 Bioenergies A promising potential covering a wide range of biomass types and geographies USA: 340M tons» 30 GWe wood potential Europe: 381M tons China: 429M tons India: 153M tons» 17 GWe biomass potential BRAZIL: 387M tons» 11 GWe (retrofit potential)» 15 GWe (additional straw)» 2 GWe Biogaz Rice Cereals Sugarcane ASEAN: 351M tons» Thailand: 3,3 GWe» Philippines: 2,3 GWe Palm Wood AREVA Overview August 2010 p.65 Appendices Renewable Energies business details

132 Bionergies Nearly 3,000MW installed worlwide Germany 2 biogas USA 12 biomass power plants for 600 MWe in project + 5 mine gas power plants for 57 MWe Thailand 2 Biomass power plants for 20 MWe Brazil 83 biomass power plants for 2,296 MWe Chile India 3 biomass + 2 waste heat power plants for 47 MWe 1 biomass power plants for 10 MWe 98 Power plants under operation or construction 2,430 MWe total installed capacity AREVA Overview August 2010 p.66 Appendices Renewable Energies business details

133 Concentrated Solar Power A natural fit within AREVA Renewable portfolio CSP installed capacity forecast Principle of the CSP technology Installed capacity (GW) +21% A market with important growth perspective An installed capacity equivalent to 11 EPR in 2020 The closest technology to AREVA s activities and expertise among all Renewable technologies Source : WEO 2008, AIE (2008) AREVA Overview August 2010 p.67 Appendices Renewable Energies business details

134 Concentrated Solar Power A promising market An emerging market with a >50% annual growth rate: Most appropriate areas for Solar thermal 400 MW sales for Solar CSP equipment in 2007 Over 1,000 MW in construction in ,000 MW sales expected in 2012 Current market in developed and sunny countries encouraged by public aid California Spain E.g.: Tariffs of 270/MWh in Spain for 25 years Middle East E.g.: Masdar project in Abu Dhabi Further potential in.... Mediterranean countries through Mediterranean Solar Plan.. Australia, Africa, India and China thanks to significant cost decrease Appropriate for solar thermal power plants: Excellent (>2,300 kwh/m²/year ) Very good (between 1,900 and 2,300 kwh/m²/year ) Good (between 1,500 à 1,900 kwh/m²/year ) Not appropriate (<1,500 kwh/m²/year ) AREVA Overview August 2010 p.68 Appendices Renewable Energies business details