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R’m

Profit/(loss) after tax. R’m. (9,708). Embedded derivatives contributed R6,8billion Fair value adjustments R1,7 billion. Interest cover. Ratio. Aspiration of achieving ratio of 3. Balance sheet Indicators. Debt:equity ratio. Cash and cash equivalents. Funding vs capex.

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R’m

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  1. Profit/(loss) after tax R’m (9,708) • Embedded derivatives contributed R6,8billion • Fair value adjustments R1,7 billion Eskom Holdings Limited Reg. No. 2002/015527/06

  2. Interest cover Ratio • Aspiration of achieving ratio of 3 Eskom Holdings Limited Reg. No. 2002/015527/06

  3. Balance sheet Indicators Debt:equity ratio Cash and cash equivalents Funding vs capex Eskom Holdings Limited Reg. No. 2002/015527/06

  4. Debt:equity (incl long-term provisions) Ratio • Extensive borrowing: Balance sheet not prepared in advance for continued borrowings Eskom Holdings Limited Reg. No. 2002/015527/06

  5. Cash and cash equivalents R’bn • Concerted focus on cashflow to improve liquid cash balances Eskom Holdings Limited Reg. No. 2002/015527/06

  6. Funding activities vs capital spend R’m * * Net debt raised and repaid (including government loans) Eskom Holdings Limited Reg. No. 2002/015527/06

  7. Credit ratings Eskom owned by government Ratings are correlated Eskom Holdings Limited Reg. No. 2002/015527/06

  8. Technical performance Generation Transmission Unplanned capability loss factor Number of interruptions Number % Significant improvement - plant and network availability Eskom Holdings Limited Reg. No. 2002/015527/06

  9. Safety performance * Fatalities during the year Employees Contractors Public Culture of zero harm Eskom Holdings Limited Reg. No. 2002/015527/06

  10. Highlights for the year • Challenges requiring ongoing focus • Business Results for 2008/9 • Outlook for 2009/10 • Building for the future • Conclusion 1 2 3 4 5 6 Eskom Holdings Limited Reg. No. 2002/015527/06

  11. Outlook for 2009/10 • At least break even at operating income • level • Living within our means, targeted savings Financial Eskom Holdings Limited Reg. No. 2002/015527/06

  12. Outlook for 2009/10 • Anticipate increase in demand as economy • strengthens • Successful Confed Cup a good dry run for 2010 FIFA World Cup South Africa TM • Confident of adequate supply for • 2010 FIFA World Cup South Africa TM • Improved plant performance, maintenance • and coal stock piles • Expensive plant utilisation to ensure • reliability of supply • Continued focus on energy efficiency to • improve reserve margin Security of supply Eskom Holdings Limited Reg. No. 2002/015527/06

  13. Targeted reductions for 2009/10 • Targeted reductions to ensure we live within our means Eskom Holdings Limited Reg. No. 2002/015527/06

  14. Highlights for the year • Challenges requiring ongoing focus • Business Results for 2008/9 • Building for the future • Conclusion • Outlook for 2009/10 1 2 3 5 6 4 Eskom Holdings Limited Reg. No. 2002/015527/06

  15. Building for the future • History • Role of Eskom in SA context • Capital expansion programme • Climate change • Independent power producers Eskom Holdings Limited Reg. No. 2002/015527/06

  16. History

  17. Back to the future Dr Hendrik Johannes van der Bijl, Eskom Holdings Limited Reg. No. 2002/015527/06

  18. History • Electricity Act of 1922 • Eskom established March 1923 • Electricity Act of 1958 • Capital Development Fund in 1972 • 70’s to early 80’s the major build programme • Excess capacity until 2005 • White Paper of 1998 Eskom Holdings Limited Reg. No. 2002/015527/06

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