Interim Results Six months ended 30 June 2010. Philip Cox Chief Executive Officer.

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<ul><li>Slide 1</li></ul> <p>Interim Results Six months ended 30 June 2010 Slide 2 Philip Cox Chief Executive Officer Slide 3 International Power Interim Results August 20103 Highlights Financial highlights Good financial performance Profit from operations of 524m (2009: 550m) EPS of 14.1 pence (2009: 15.4 pence) up 7% after adjusting for FX and the sale of the Czech business Strong free cash flow of 398m (2009: 326m) up 22% Interim dividend of 4.39 pence per share (2009: 4.25 pence), up 3% Growth PPAs signed for 76MW of new wind generation capacity in Canada Good progress at 815MW Paiton 3 project and 110MW Thai National Power 2 project Total construction pipeline of 1,400MW (net) 16 12 4 0 p 8 Underlying EPS up 7% 20092010 Underlying EPS Czech 0 400 800 1,200 1,600 2010201120122013 HUBCO - Laraib TNP2 Paiton 3 T-Power Elecgas IPR European Wind Portfolio Synergen HUBCO - Narowal Fujairah F2 Construction pipeline Net MW Slide 4 Mark Williamson Chief Financial Officer Financial Review Slide 5 Interim Results August 2010 International Power Profit from operations Interest PBT Tax Non-controlling interests Profit for the period EPS 524 (191) 333 (64) (54) 215 14.1p Six months ended 30 June 550 (216) 334 (59) (41) 234 15.4p 2009 Restated m 2009 restated for adoption of IFRIC 12 - Service Concession Arrangements and change in policy relating to retirement benefit obligations 2010 m Income statement 5 Reduction in PFO reflects the sale of Czech assets in H2 2009 Excluding Czech assets, EPS up 7% Reduced interest reflects paydown of US debt Effective tax rate, at 22%, includes: change in profit mix across the Group resolution of historic tax issues Slide 6 Interim Results August 2010 International Power H1-on-H1 PFO change North America reflects lower gas prices and a reduced Coleto Creek provision release Europe higher following Rugeley FGD commissioning and ISAB return to service Middle East continues to perform well, delivering high availability Australia benefited from good performance at Loy Yang B and Simply Energy 2010 also benefited from a 0.8p uplift on FX movements 6 H1 2009 15.4p H1 2010 14.1p North America Europe Australia Middle East Asia Corporate 550m (9)m 25m 13m 8m (1)m (3)m 524m H1 2009 excl-Czech 12.4p 491m (59)m Czech 7% Slide 7 Interim Results August 2010 International Power Free cash flow Free cash flow up 22%, or 33% excluding the Czech assets Working capital benefited from the settlement of hedges on the UK portfolio Interest lower following pay-down of US debt H1 2009 H1 2010 326m 33 18 (4) 6 (11) 398m PFO Maint. capex Net interest paid Tax paid (net) Dividends JV &amp; assoc 56 Working capital 7 H1 2009 excl-Czech 300m (26) Czech Slide 8 Interim Results August 2010 International Power 8 Net debt structure Cash and cash equivalents Recourse debt Convertible bond (2023) Senior unsecured note (2017) Convertible bond (2015) Convertible bond (2013) Non-recourse gross debt IPM - acquisition debt North America Europe Middle East Australia Asia Total net debt 1,446 (152) (198) (493) (170) (1,013) (276) (877) (2,528) (362) (1,182) (43) (5,268) (4,835) Total m IPR Corp As at 30 June 2010 Project 737 (152) (198) (493) (170) (1,013) - (276) 709 - (276) (877) (2,528) (362) (1,182) (43) (5,268) (4,559) JVs and associates off-balance sheet 355 - (166) (491) (1,013) (78) (526) (2,274) (1,919) Maturity 2023 2017 2015 2013 2012 - 2013-2029 2013-2026 - 2025 2012-2019 - 2025 Maturity 2019 2035 2030 - 2018 m Maturity indicates the first bullet and the last year of project debt amortisation within each region No significant project debt refinancing in 2010 and 2011 - 2012 - Cash/(Debt) Slide 9 Philip Cox Chief Executive Officer Slide 10 International Power Interim Results August 2010 North America 10 Power demand Texas: cold winter but mild summer, lower congestion in South Zone New England: strong demand in May, June and July PJM: positive weather impact June/July Gas prices some recent volatility but overall prices remain low Capacity auction New England: May 2013 to June 2014 auction cleared at $2.52, consistent with previous auction PJM: 2013 to May 2014 capacity auction cleared at $27.73/MW day, up from $16.46/MW day Operational cost savings good progress, savings of $5m to $10m expected IP Canada renewables PPAs signed for 76MW of additional capacity expected to be operational 2011 Slide 11 International Power Interim Results August 2010 Europe - UK Jan to May power demand down slightly Rugeley, Saltend, Deeside heavily contracted for 2010 First Hydro impacted by lower volatility and wholesale prices partially offset by ancillary services including contracted reserve Government programme some policy areas of importance to IPR IPR fully involved in the environmental policy development process 11 40 50 60 70 90 GW 2008 2010 80 Weekday Peak Demand Headline Availability 2009 Week Ahead Availability Outturn Availability Slide 12 International Power Interim Results August 201012 Continental Europe Operationally plants performing well ISAB second unit returned to service as planned Italy remains committed to the renewables sector Government re-confirmed renewables target in July CV price support mechanism for 2010 maintained system operator reviewing 2011 CV support mechanism Construction of Elecgas and T-Power on track to commence operation in H1 2011 Development projects development agreement signed with GALP for 50% of 800MW CCGT Sines project in Portugal Slide 13 International Power Interim Results August 2010 Middle East and Asia 13 High commercial availability across all assets Business performing well and in line with expectations Fujairah F2 construction programme progressing with full commercial operation expected in 2010 Paiton 3 and TNP 2 construction progressing well New Developments Vietnam IPR and partners awarded the development of 1,200MW Son My project by the Government Indonesia Central Java 2,000MW coal, pre-qualified, bid due November Fujairah F2 Paiton 3 Slide 14 International Power Interim Results August 201014 Australia Good performance no change to pricing since year-end results in March maximum price increased to $12,500/MWh Climate change policy under new PM released in July CPRS delayed until after the end of 2012 Kwinana Slide 15 International Power Interim Results August 201015 Outlook Good performance in the first half Merchant assets remain well positioned to capture value from recovery/volatility in market conditions Portfolio of long-term contracted assets continues to perform well Overall outlook for the year remains unchanged Slide 16 Interim Results Six months ended 30 June 2010 </p>

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