PTC = Jobs

April 20, 2011

John CohenVice President, Government Affairs

© ALSTOM 2011. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use or disclosure to third parties, without express written authority, is strictly prohibited.

Alstom in the U.S. - P 2 | © Alstom 2011

Alstom: Three Areas of Innovation

Leading global provider of equipment & services for…

Power Generation

Power Transmission

Rail Transportation

© ALSTOM 2011. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use or disclosure to third parties, without express written authority, is strictly prohibited.

Strong & Sustained Sales, Worldwide

Alstom in the U.S. - P 3 | © Alstom 2011

Key Facts & Figures:

92,700 employees in 100 countries

6% increase in sales from 2009/10 to 2010/11

Steady increase in R&D investment to more than $1 bn

USD in 2010//11

Leading provider of innovative clean technology

solutions

Grid

$4.8 bn

Transport

7.5 €bn

Thermal Power

$12.9 bn

Renewable Power

$2.6 bn Total sales 2010/11: $27.8 billion

© ALSTOM 2011. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use or disclosure to third parties, without express written authority, is strictly prohibited.

Alstom Innovation, Coast-to-Coast

Alstom in the U.S. - P 4 | © Alstom 2011

• Multimillion dollar investments in Chattanooga, Tennessee and Amarillo, Texas will create up to 600 green jobs for U.S. workers.

6,000+ permanent employees in 45 states and the District of Columbia10,000+ employees including contract workers

100+ years of U.S. market expertise in:

Power GenerationRail Transportation

Energy Transmission

© ALSTOM 2011. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use or disclosure to third parties, without express written authority, is strictly prohibited.

Amarillo, TX - centrally located - rail and truck shipping

115,000 ft2 on 20 acres

270 Units (3MW) annually

200 Full-time jobs at full capacity

LEED Certified Sustainable Site

Alstom Wind - North America Amarillo Nacelle Assembly Facility

Focused Facility for ECO 100 Platform to support US, Canada and Mexico

Operational Q1 2012Common Global Process

© ALSTOM 2011. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use or disclosure to third parties, without express written authority, is strictly prohibited.

Alstom’s Wind businessReferences in US - NAM

Alstom’s first US wind farms in commercial operation are exceeding production estimates

NRELECO 100

MinnesotaAdams & Danielson

wind farms

NIREECO 86

• 44 MW - 24 x ECO 86

• Operational since March 2011

• Exceeding annual production estimates by 10%

• Customer:

Adams & Danielson wind farms

© ALSTOM 2011. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use or disclosure to third parties, without express written authority, is strictly prohibited.

Presentation title - 01/01/2007 - P 7

#1 Message

Policy CertaintyPolicy Certainty

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InvestmentInvestment

© ALSTOM 2011. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use or disclosure to third parties, without express written authority, is strictly prohibited.

PTC: Boom and Bust

© ALSTOM 2011. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use or disclosure to third parties, without express written authority, is strictly prohibited.

Value of Policy Certainty – By the numbers

• FOUR YEARS of consistent wind tax policy delivered:

− 35% annual growth

− 400 manufacturing facilities in 43 states

− 60% of wind turbine’s value produced in U.S. (up 35% since 2005)

− $60 billion of investment since 2005.

− 6,816 megawatts (MW) installed in 2011• Up 31% since 2010,• 46,916 MW installed in the U.S. to date.

− 8,300 MW under construction in 2012

© ALSTOM 2011. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use or disclosure to third parties, without express written authority, is strictly prohibited.

PTC Expiration: Consequences

• If PTC expires in 2013:

− Annual Installations: Drop to 2 GW in 2013, from >8 GW in 2012

− Total jobs: Drop almost 50%• 78,000 in 2012 • 41,000 in 2013

− Total Investment: Drop by nearly two thirds• $15.6 billion in 2012 • $5.5 billion in 2013

© ALSTOM 2011. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use or disclosure to third parties, without express written authority, is strictly prohibited.

PTC Extension: Benefits

• If PTC extended for 4-years:

− Annual Installations : 8-10 GW through 2016

− Total jobs: Grow to nearly 100,000 by 2016

− Total wind investment: Grow to $16.3 billon in 2016

© ALSTOM 2011. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use or disclosure to third parties, without express written authority, is strictly prohibited.

PTC Extension: Jobs

© ALSTOM 2011. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use or disclosure to third parties, without express written authority, is strictly prohibited.

PTC: Taxpayer ROI

• Four year PTC extension: 87% return on investment for U.S. taxpayers

− Taxpayer Investment: ~$13.6 billion− Taxpayer Benefit: ~$25.6 billion

− Navigant inputs:• Investment

− tax credits for wind plants installed from 2013 to 2016

• Returns:− manufacturing investment− expenditures during construction− land lease payments over the life of the plants out to 2021− operating expenditures and federal− state taxes on income from power sales

© ALSTOM 2011. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use or disclosure to third parties, without express written authority, is strictly prohibited.

The Challenge

• Congress needs to ACT this year

− H.R. 3307, American Renewable Energy Production Tax Credit Extension Act of 2011,

• 91 co-sponsors

− S. 2201, American Energy and Job Promotion Act, • 7 co-sponsors

© ALSTOM 2011. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use or disclosure to third parties, without express written authority, is strictly prohibited.

Conclusion

PTCPTC

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www.alstom.com/us

Thank You

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