1

ATOMIC ENERGY POWER CORPORATIONJSC ATOMENERGOPROM

PRESENTATION

2

Presentation Contents

ATOMENERGOPROM in brief

Nuclear energy development forecast

Affiliates of ATOMENERGOPROM

3

Restructuring of the Atomic IndustryState Corporation ROSATOM

Atomic Energy Power Corporation

Nuclear defense complex

Nuclear science

Nuclear radiation safety and decommissioning

JSC “Atomenergoprom”89 Enterprises

Goals of the establishment of JSC “Atomenergoprom”:To consolidate the civil part of nuclear industry into an integrated full-cycle company of international scale and to increase its efficiency and to enhance its competitivenessTo divide civil and defense sectors of nuclear industry To create conditions for corresponding Russian nuclear industry to international integration processesTo realize effectively a large-scale program of building NPP in Russia

Nuclear fuel cycle

EngineeringRussia and

export

Machine-building

Development of

technologies

Applied scientific research

Non - nuclear activities

Power generation

Export of uranium and

services

4

JSC Atomenergoprom was established in 2007 according to Russian Federation Presidential Decree № 556 of 27.04.2007. The charter was approved by Russian Federation Government Resolution №432 of 06.07.2007

The State Corporation Rosatom owns 100% shares of JSC Atomenergoprom (Federal law N 317-FL of 01.12.2007)

Shares of 89 enterprises of Russian atomic industry will be contributed into equity of JSC Atomenergoprom (incl. 31 JSC, 55 FSUE, 3 FSEI)

The staff totals approximately 193,000 employees.

Atomenergoprom absorbs a unique experience, which has been accumulated through all sectors of nuclear fuel cycle and construction of NPP during 60 years

Government Support: Federal Target Program “Development of Russian Nuclear Energy Industry in 2007-2010 and for a period till 2015» envisions financing totaling 1471,4 bln RUR (Russian Federation Budget – 674,8 blnRUR – 45%).

General Company Information

5

Atomenergoprom mission is to provide safe and effective economic development, life quality growth and preservation of the environment

Atomenergoprom contributes to economic growth, social stability,prosperity and progress, provides protection of environment and rational usage of natural resources. The company aims at being a responsible member of the world community, known and respected all over the world.

Core strategic principle – technological leadership in the global nuclear industry

Company’s strategy is to advance to both to unification and technological improvement of product and to diversification of sources ofrevenue and the geographic expansion

Mission

6

ATOMENERGOPROM in brief

Nuclear energy development forecast

Affiliates of ATOMENERGOPROM

7

300

400

500

600

700

800

2005 2010 2015 2020 2025 2030

WNA  2005 Max WNA  2005 Med IAE A  2006 MaxIAE A  2006 Min IE A  2006 Alt IE A ‐2006 RefDOE ‐E IA  2006 Ref R ed Book OE C D  Max Red Book OE C D  Min

The Worldwide Nuclear Installed Capacity Forecast Till 2030

731691

482

402438

529530

GW

368

WNA 2007 projects growth from 415 to 833 GW or from 12% to 126% of installed capacity from 2030

Average538

551

98% NPP growth

447

+9%

8

0

300

600

900

1200

1500

1800

2006 2010 2015 2020

ТЭС, ГРЭС АЭС

Electricity Consumption Growth In Russia *bln. kWh

*According to General Plan of Electricity Power Plants Allocation (base scenario) adopted by Russian Government Decision dated February 22th 2008 #215-р

NPP  generation  growth  from  155,1  bln.kWh to 362 bln.kWh (2006→2020  )  – base  scenario,  i.e. 20,5% of total Russian electricity generation;

NPP growth is achieved by new construction and modernization of existing NPPs

15,9 %

20,5 %

84,1%

79,5%

133% growth

to 362 blnkWh

71,8% growth to 1404,9 bln

kWh

CHPPsHPPs NPPs

14,6 %

85,4%

16,5 %

83,5%

9

Increase of capacity according to General Allocation till 2020

Dynamics of nuclear generation (taking into account modernization*)

Program of putting into operation and decommissioning of nuclear units

(GW)

Installed capacity (GW)

2006 2010 2015 2020

23,5 26,9

38,1

53,259,0

Base scenario

Expanded scenario

* Increasing of capacity on operating equipment taking into modernization

Till 2010 4 new nuclear units are to be put into operation; 2011-2015 –10 new nuclear units ; 2016-2020 – 23 units according to base scenario, or 28 units according expanded scenarioDuring 2016-2020 г.г. – decommissioning of 9 units – 3,9GW

2006-2010 2011-2015 2016-2020

2,07

11,08

19,12

24,87Decommissioning

3,9

10

Active NPPs

NPPs under construction

Planned NPPs

General Allocation Plan: Map of Russia in 2020

BILIBINO

SEVERODVINSK(FNPP)

PRIMORSKAYA

KOLA

PEVEK (FNPP)

SEVERSK

SOUTH URALS

LENINGRADKALININ

BALAKOVO

BELOYARSK

ROSTOV

KURSK

TVERSMOLENSK

NOVOVORONEZHNIZHNIY NOVGOROD

Active - 31 unitsUnder construction - 11 units (incl. 2 floating)Planned - 31 units (incl. 2 floating)Upgrade – 14 unitsDecomissioning – 9 units (incl. 3 in Bilibino)

CENTRAL

Unit statistics

BALTIC

11

Argentina

Canada

China

Finland

France

India

JapanS. Korea

Russia

Pakistan

Slovakia

Iran

Тaiwan

USA

1 1

1

1

1

1 12 2

2

2

1

36

24

11

510

123

7

6

Brazil

Bulgaria

1

1SouthAfrica

- nuclear units underconstruction

- nuclear units planned

2

Number of nuclear units under construction

World nuclear power units under construction (2008 )*

0 2 4 6 8 10 12 14

CGNPC

NPCIL

KHNP

AREVA

GE

12

Today there are about 35 nuclear power units, 12 of them are being constructed by Atomenergoprom.

10

*Sources: Atomenergoprom, IEAE, WNA

№1ATOMENERGOPROM 28%

12

0 40 80 120

Active Units Worldwide

Toshiba/ WestinghouseAREVA

GE-HitachiAECL

MHIKHNP

3rd worldwide by quantity

Source: Atomenergoprom

Toshiba/ WestinghouseAREVA

GE-Hitachi

AECLMHI

KHNP

4th worldwide by installed capacity

69

units

GW

49

108101

56 18 15

8

11795

6429

188

ATOMENERGOPROM

ATOMENERGOPROM

0 40 80 120

13

ATOMENERGOPROM in brief

Nuclear energy development forecast

Affiliates of ATOMENERGOPROM

14

Main Enterprises

OJSC “Atomredmetzoloto”OJSC “PIMCU”, OJSC “Khiagda”, OJSC “Dalur”, JV “Zarechnoye”, JV “Akbastau”, JV with Cameco,

OJSC “AECC”, OJSC “SCC”, OJSC“UECC”OJSC “PO ECP”

OJSC “TVEL”, OJSC “MSZ”, OJSC “NCCP”, OJSC “ChMP”, OJSC “CMP”, OJSC “MZP”

OJSC “TENEX”

OJSC “ENERGOATOM”

OJSC “Atomenergomash”, JV “AlstomAtomenergomash”, OJSC “ZiO”,

OJSC “VPO Tochmash”, “MSZ Molniya”

OJSC “Design-bureau Hydropress”,OJSC “OKBM”, OJSC “NIKIET”,

3 OJSC “Atomenergoproject” (Moscow, Saint-Petersburg, Nizhniy Novgorod)

CJSC “ATOMSTROYEXPORT”

OJSC “VNIINM”, OJSC “NIIAR”, OJSC “IRM”

OJSC “Engineering Centre “Russian Gas Centrifuge”,

OJSC “NPK Khimprominginiring”

MINING

CONVERSION AND ENRICHMENT

FABRICATION

EXPORT OF URANIUM PRODUCTS & SERVICES

RESEARCH AND DEVELOPMENT

GENERATION

MACHINEBUILDING

ENGINEERING

EXPORT OF ENGINEERING

TECHNOLOGY DEVELOPMENT

ОАО “ATOMENERGOPROM”

15

Technology Chain

Fuel fabrication

Machinebuilding

Uranium mining

Conversion and enrichment

NPP construction

Research and development

GenerationSpent nuclear fuel management

Manufacturing of gas centrifuge

16

Global Presence of JSC “Atomenergoprom”

Australia

USACanadaMexico

ArgentineBrazil

36countries

Finland, Sweden, the Netherlands, Belgium, Germany, France, Spain, Great

Britain, Switzerland, Poland, Czech Republic, Hungary, Slovakia, Lithuania,

Bulgaria, Slovenia

South AfricaNamibia

Libya

RussiaKazakhstan

UkraineArmenia

JapanChina

South KoreaVietnam

IndiaMongolia

Iran

17

0

5

10

15

20

25

2007 2010 2015 2020 2024

Uranium mining

Atomredmetzoloto (ARMZ)

ATOMENERGOPROM Uranium Mining Forecast, ‘000 t

Source: ARMZNote: 25% in 2024 includes JV in Kazakhstan

*Including reserves in Kazakhstan

25%JV in

KazakhstanPIMCU Dalur Khiagda

UDKGornoye

ElkonskiyMining

OlovskayaMCU

JVs in Kazakhstan:Zarechnoye,

Akbastau

JV in Canada(Cameco)

JV in Armenia

New JV: Canada, Ukraine

Mongolia, Namibia

Foreign assets of ARMZ

Extractable Reserves of Uranium, ‘000 t342 Elkonskiy MiningOlovskaya MCUUDK Gornoye

PIMCU, Dalur 156

Khiagda 41

Main Business Activities:Secured supply of raw materials matching growing demand of nuclear industry;Uranium mining and raw material base replenishment;Use of the newest technologies (in-situ leaching);

583,000* t2-nd

worldwide

Growth  5,7x

18

Fuel Fabrication Affiliates

TVEL

ATOMENERGOPROM Nuclear Fuel World Market (Fuel Assembly)

Source: TVEL data, 2007

Novosibirsk Chemical

Concentrates Plant

ChepetskyMechanical Plant

Chemical and Metallurgical

Plant

Main Business ActivitiesIncreased Domestic and Export Fuel Market Demands Secured SupplyNuclear Fuel Development and Optimization;Fuel assembly “TVS-Kvadrat” project development ;Participation in MOX project development;Participation in ITER project development ;Cooperation expanding with Areva, AECL and KNFC etc.

MashinostroitelnyPlant (Electrostal)

TVEL representative office:Slovakia, Ukraine

In cooperation with AREVA NP supplies fuel for PWR/BWR (6 reactors in 2007)

Others 83%

17% TVEL

74 commercial reactors – 14 countries

30 research reactors – 17 countries

TVEL-labeled fuel keeps running

Continuation of Finland (from 2008) and Czech (from 2010) fuel supply projects

19

Enrichment / Conversion Affiliates

ATOMENERGOPROM SWU World Market

Source: Atomenergoprom data, 2007 г.

5% others

11% Usec

20% Urenco

Atomenergoprom 45%

Areva 19%

Enrichment / Conversion Division

TENEX UEIP AECC

SCC ECPUEC IUEC

Gas Centrifuge Engineering

Division

Carbon Fiber Engineering

Division

Main Business Activities :Secured supply of enriched uranium and enrichment / conversion services to domestic NPPs and export supply to NPP Operators;Development of enrichment technologies

20

0 22 44 66

Nuclear Electric GenerationATOMENERGOPROM Installed Capacity TOP-5 Operators, GW

«ENERGOATOM» CONCERN

Balakovo NPP (4хVVER 1000) 4000 MW

Beloyarsk NPP (LWGR-600) 600 MW

Kalinin NPP (3хVVER 1000) 3000 MW

Novovoronezh NPP (2хVVER 440, 1хVVER 1000) 1834 MW

Total: 10 NPPs, 31 reactors with 23242 MW capacity installed

Bilibino NPP (4хLWGR 6) 48 MW

Rostov NPP (1хVVER 1000) 1000 MWKola NPP(4хVVER 440) 1760 MW

Kursk NPP(4хRBMK 1000) 4000 MW

Leningrad NPP (4хRBMK 1000) 4000 MW

Smolensk NPP (3хRBMK 1000) 3000 MW

TEPCOKHNP

EXELON

EDF23,2

0 15 30 45 60

TEPCOEXELON

KHNP

EDF

Reactor Number TOP-5 Operators

31

Number 2 worldwide

Source: IAEA (NPP World Wide Report 2006), Rosenergoatom

Source: IAEA (NPP World Wide Report 2006), Rosenergoatom

Number 2 worldwide

63

58ENERGOATOM

ENERGOATOM

21

Position of ENERGOATOM among Russian generation companies

23,2

31

63

58

JSC “RusGidro»

JSC “Mosenergo”JSC “OGK-1”

0 10 20 30

2-d place ininstalled capacity

23,225

JSC “Irkutskenergo”

- 40 80 120 160

82,3

158,3

1-st place ingenerationof electricity

JSC “OGK-4”

JSC “Irkutskenergo”

JSC “Mosenergo”

JSC “RusGidro»

ТОР-5 Generation of electricity 2007, bln. kW/h

0

ТОР-5 Installed capacity, GW

ENERGOATOM

ENERGOATOM

22

Nuclear Machinebuilding Industry Affiliates

ZIO PodolskJV«ALSTOM-Atomenergomash» ZIOMAR

PerlovskyPlant

ZavodProgress

Kaluga Turbine Plant

«Intelenergomash»«Arako» (Czech)

«Stalenergoproekt»JV with Ganz Energetica

Kft (Hungary)and others companies

ATOMENERGOPROM

HydropressOKBMCKBMSverdNIIKHimMash

ATOMENERGOMASH GROUP

Auxiliary Equipment

Electrochemical Equipment

Turbine Island

Turbine Island Reactor Island Auxiliary Equipment

Main Business Activities :

Transition to new production and technology platform and increase of production efficiency

Increasing production rate from 2 to 4-5 equipment sets per year for new NPPs after 2011

R&D

23

Cooperation JSC “Atomenegoprom’ with Japanese Companies

Japanese nuclear energy market has strategic importance for JSC “Atomenergoprom”

At present JSC ”TENEX” provides about 15% of fuel requirements for Japanese NPP

JSC “Atomredmetzoloto” (ARMZ) active cooperates with Mitsui company in realizing collaborative exploration and uranium mining projects in Russia

24

On March 20, 2008 Atomenergoprom signed GeneralFramework Agreement on business cooperation withToshiba CorporationParties have started an investigation of collaborative projects in different fields, including NPP’s design and construction, production and technical services for heavy equipment, products and services for nuclear fuel cycleClose interconnections between two companies can led to the creation of strategic partnership

Cooperation JSC “Atomenegoprom’ with Japanese Companies

25

Contacts:

JSC «Atomenergoprom»Address: 24/26 B.Ordynka, Moscow119017 Russia

Anton V. KovalevskiyInvestment Policy Directortel. +7 (495) 270-17-31 e-mail: Kovalevskiy-av@atomenergoprom.ru

Roman S. KuvshinovHead of IR-officetel.: +7 (495) 969-29-39, ext.3291 e-mail: Kuvshinov-rs@atomenergoprom.ru

THANK YOU FOR YOUR ATTENTION