CONFIDENTIAL 1KARADENIZ HOLDING

KARPOWER INTERNATIONAL

Nuray AtacıkChief Commercial Officer

November 2011Abuja, Nigeria

Fast Track Guaranteed ElectricitySupply Solution : POWERSHIP

KARADENIZ GROUP BUSINESSES

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OPERATIONS CAPACITY

Domestic Projects In Commercial Operation 246 MW

Domestic Projects Under Construction (HPP/Geo 1) 152 MW

Domestic Project Execution Pipeline (WPP/CCGT/HPP/Geo 2)558 MW

Total Domestic Operations 956 MW

Powerships in Commercial Operation & Completed (KPS 1-3-4-5-6)(Phase I - 5 Vessels)

785 MW

Powerships Under Construction (KPS 9-7-11-10-2)(Phase II - 5 vessels)

755 MW

Powerships in the Pipeline (KPS 8-12-14-15-16)(Phase III - 5 vessels)

635 MW

Total Powership Fleet 2175 MW

MORE THAN 3,000 MWs GENERATION CAPABILITY

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FAST TRACK GUARANTEED

ELECTRICITY SUPPLY SOLUTION

KARPOWER POWERSHIP

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� Capacity: 10-40 MW � Contract Term: 6-12 months� Delivery: 3-4ms � Fuel: LFO

� Capacity: 50-220 MW� Contract Term: 3-5 years� Delivery: 6 months� Fuel: HFO / NG

� Capacity: 500-1500 MW� Contract Term: 15-25years� Delivery: 24-36 months� Fuel: Hydro/Coal/NG

POWERSHIP OFFERS MEDIUM-TERM SOLUTION

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90 days Delivery timeShip mounted,

faster transport & greater access capability

No Completion or Construction SiteRiskFuel

IndependenceDual-fuel supply

option, Natural Gas or HFO

Direct connectivity to local grid from onboard High Voltage grid station ,Operation

maintenance 24/7

Proven engine technology, ideal for both Base Load or Peak ShavingHigh Fuel Efficiency Centralized , Utility

Grade Generation

POWERSHIP IS…

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KARPOWER POWERSHIP FLEET

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THE MARKET FOR POWERSHIPS

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Central: Turkey,

Europe, Cyprus, Malta, Australia, Japan

Regional Directory: North

and West Africa

Regional Directory: Middle East

and East Africa

Regional Directory: Asia Pacific,

and Arabian Gulf

Business Development

Organization Structure :

CONFIDENTIAL 9

KARPOWER POWERSHIP CONCEPT ADVANTAGES

Mid-term solution for countries to avoid electricity shortage

Gains time for decision makers for bridging generation gaps and choosing the best

long term solution for their country

Economical than short term solutions or suffering from shortage or many existing old

power plants

Immediate Impact for Sustainable Growth of the economy

Rental Contract does not require lengthy legal or f inancial processes

High quality and fast delivery

No completion or Site Risk

Operation is also possible in areas with poor logistic infrastructure

Unaffected by floods, landslides or earthquakes

Minimal use of land space

Mobility advantage for future use in other areas

Phase I- POWERSHIP FLEET IN OPERATION

220 MW

200 MW

110 MW

144 MW

KARADENIZ HOLDING

110 MW KARADENIZ IREM SULTAN POWERSHIP

Karadeniz Powership Dogan Bey 144 MW Operating in Basrah- Iraq

Karadeniz Powership Rauf Bey

200 MW Operating in Basrah - Iraq

Karadeniz Powership Kaya Bey

220 MW Operating in Karachi – Pakistan

Karadeniz Powership Alican Bey

110 MW Operating in Karachi – Pakistan

OPERATING KARADENIZ POWERSHIPS Phase I - 785 MWs

Karadeniz Powership İrem Sultan

110 MW Will Operate in Basrah - Iraq

KARADENIZ POWERSHIP RAUF BEY

Operating in Basrah

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KARADENIZ POWERSHIP KAYA BEY &

KARADENIZ POWERSHIP ALICAN BEY

Operating in Karachi

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IRAQ 250 MW3+2 year Rental Contract –Ministry of Electricity of Iraq

- Floating Power Plants – Powerships

- Delivery completed

- Guaranteed Availability

- Fuel supplied and physically delivered by the

Buyer on board, for energy conversion

- Client with impeccable track record since

2003 with KEG over USD 600M+

Karadeniz Powership Dogan BeyKaradeniz Powership Rauf BeyKaradeniz Powership Irem Sultan

Operating on Location

Contract revision agreed :

-Per kwh monthly invoicing

-Discount of 10 % on Fuel Opex

from 78 gr to 70,2 gr

-Reduction in annual escalation to 2 % from

4,5%

MAJOR PROJECTS - POWERSHIPS

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PAKISTAN 231.8 MW 5 years Rental Services Contract -Lakhra Power Generation Co. Ltd

- Floating Power Plants – Powerships

- Delivery Completed

- Fixed Monthly Rental Fees to be paid secured by

Sovereign GOP Guarantee

- Guaranteed Availability

- Fuel Charge paid based on generation, pass thru

SBLC

Karadeniz Powership Kaya Bey Karadeniz Powership Alican BeyKaradeniz Powership Enis Bey (Fuel Shuttle)

All three Vessels safely moored on location and in

Commercial Operation

Fuel Shuttle / Storage Tanker(s) deployed

MAJOR PROJECTS - POWERSHIPS

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KARPOWER

Next Generation Karadeniz Powerships 755 MWs

(5 New Powerships) Under Construction

KARADENIZ POWERSHIP PHASE 2 & PHASE 3

Under Construction

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Standardized Brand New Equipment:

Man – Siemens

Alfa Laval – Aalborg

Standardized Design:

Shark Class - Orca Class

Stream Lined Production Built to Spec

110 MW KARADENIZ IREM SULTAN POWERSHIP

READY TO ENERGIZE THE WORLD

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CONFIDENTIAL 21KARADENIZ HOLDING

READY TO ENERGIZE THE WORLD