Alstom Timeline in Chattanooga

1989 ABB buys Combustion Engineering property

1999 ABB merges with Alstom

2000 Alstom buys out ABB < than 12 months after merger

2002 THIS IS A BACKDATED NOTE:

Alstom is participating in payoffs and kickbacks to do business in multiple countries. SOURCE: DOJ legal records and press releases. SEE NOTEBOOK & DOJ

website. 2003 Alstom in debt and requires cash infusion ($3.6-$7.1 billion) from French government to avoid bankruptcy. France takes stake in company.

2006 Alstom tells media it brought a team to Chattanooga to evaluate a new plant site. Alstom already owns and runs the existing plant.

2007 March 2--Alstom announces investment $200 million plant renovation & 350 new jobs for Chattanooga plant to build steam turbines and generators. Alstom states it brought a team to Chattanooga in 2006 to evaluate the site and decided the Chattanooga transportation infrastructure suited their needs. Source: Site Selection Magazine, March 2. Comment: Alstom states existing plant currently employs 650 people. They probably

know these employment numbers, because they have owned and operated the plant since 2000.

2008 June 17--[6 months after media announcement of remodel of Alstom plant] Chattanooga City Council approves 3 phased PILOT Agreement awarding tax

abatements with 2026 expiration date. 100% abatement year one of each 3 phases & paying only school tax 29% for all subsequent years. PILOT

start time frame for investments is backdated to a year earlier —>July 5, 2007. Comment: The City and County agreed to waive about $2 million in property taxes per year for 15 years.

2010 January 8-ARRA Fed funds for $63 million awarded to ALSTOM

Alstom opened $300 million turbine production plant next to boiler facility…on track to employ about 350 people by early 2013. Source: TFP article

2012 June 25--Gov. Haslam announces $2.3 million transportation grant to help fund Riverwalk extension past Alstom’s property

October 6-- Alstom states boiler production plant employs 400 employees. Source: TFP Mike Pare Oct. 6 article.

2012 August--Sen. Bob Corker tours plant and states company spent $15 million to train its workforce. [$15 million/ 300 new employees = $50,000/employee]

September-- Chattanooga City Council and Hamilton County Commission approve construction funding for extension of Riverwalk past Alstom. According to Mayor Littlefield, Riverwalk extension was an incentive promised to Alstom, although it is not mentioned in the PILOT. City approved $1.075 million. COUNTY ALSO.

November 2--David Rothschild, Alstom’s former vice president of global sales pleads guilty to conspiracy to violate the US Foreign Corrupt Practices Act, a law prohibiting persons in the US from bribing foreign officials for business purposes.

2013 [Year after Governor Haslam and Senator Corker announcements]

February 1--Alstom furloughs 350 boiler employees for a month

March 8--Alstom eliminates 80 Chattanooga jobs leaving 60 employees at the turbomachinery plant. Tim Brown, Alston’s communication director states boiler

plant employs 400. Jobs at full site plant total 460.

Note: In the March 9, 2013 Mike Pare/Dave Flessner article, Ed Marston of the Chamber states the company will retain its tax abatement until 2014. “The company

has until then to meet its commitment to employ 300, and he noted that Alstom overall will employ 460 people in the city. What did he mean by that? It should be noted that when Alstom announced the NEW plant renovation and new jobs in 2007, Alstom admitted a total of 650 people were employed at the site.

650 existing old jobs + 300 new jobs should = 950 total jobs. 460 jobs are fewer than before the PILOT began.

2013 March 25 According to turbomachinerymag.com, “On March 14 Liquidators of Price Waterhouse Coopers in Birmingham, UK, held the final disposition meeting in the case of insolvency of Alstom Power Industrial Turbine Services. Several subsidiaries have been barred from World Bank Projects for three years due to a track record of investigations and convictions in bribery and corruption scandals worldwide. In spite of steady growth in

excess of 3% for the gas turbine industry as a whole, with growth up 10% in some developing regions, Alstom seems to have hit a snag.”

2013 July 29--Frederic Pierucci, Alstom’s former vice president of global boiler sales pleads guilty to bribery.

2014 December 22--US Department of Justice announced Alstom pleads guilty and agrees to pay $772 million criminal penalty to resolve foreign bribery charges. Issues leading to judgment: bribery, falsifying records, failing to implement proper controls and failure to cooperate with investigation.

2014 Alstom announces furlough of 255 boiler workers.

2015 Alstom announces furlough of 100 boiler workers and will eliminate the jobs April though August of 2015

March--Alstom sells 17 acre parcel to Talon Office Opportunties

September--City Industrial Development Board approves a revised property tax break for Alstom to pay a portion of their taxes for 2015 because they only created 140? of the 300 jobs they committed to add in order to get the PILOT.

2016 June 21--New owner General Electric announces closure of Chattanooga Alstom plant, layoff of 235 workers