ESI Ltd is engaged in the management and development of the Kovin Energy Complex Project. This project includes construction of a underwater coal mine and a thermal power plant of estimated 700 MW installed power, to be located near Kovin, in Serbia.

Project site is located 11 km from the city of Kovin, on the left side downstream along Danube, in the area between the municipalities of Malo Bavanište and Dubovac, 70 km away from Belgrade in the area that covers 40 km2.

This project is listed in the official publication of the Serbian Ministry of Energy, development and environment protection (in 2013) as the priority project and investment of national importance and interest. It is also listed in all relevant strategic development and planning documents of AP Vojvodina and Republic of Serbia. Given the scope and complexity of the project, it is developed in the strategic partnership with the Republic of Serbia, with the legal ground being the Serbian Public - Private - Partnership and Concessions Law (from 2011). Republic of Serbia remains a minority shareholder in the project once it is completed.

Major financier and future shareholder of the Project (coal mine and thermal power plant) will be CHDHK – China Huadian Hong Kong Corporation Ltd while NIS Gazprom will (as the ongoing financier of the Project) remain a minority shareholders along with Republic of Serbia.

Technical aspect of the project is to be developed in cooperation with the Tianjin Dredger Co. Ltd and IHC Merwede for the coal mine and Kraftanlagen and ALSTOM

ESI has developed the Preliminary Feasibility Study for Kovin Energy Complex Project. This document encompases all relevant technical, financial, legal, environmental and managing aspects of the project development.

Project Energy Complex Kovin is structured as an SPV company, located in Kovin and owning all project documentation. Company name is Energy Complex Ltd with TIN 107318563 and ID no. 20780282.

For any additional inquiries feel free to contact ESI at +381 11 4126683 or +381 64 8731106, or via e-mail at miljan.radunovic@esi.co.rs

• Presentation of the Kovin project (in .pdf format)

ESI has, since 2012, established its presence, by opening a staffed office in Cyprus, which is continuously, and with direct presence, following the market changes EU pressure for privatization of the Electricity Authority of Cyprus – EAC (www.eac.com.cy), being the only energy generator on the island. These changes shall be reflected by new regulations from Cyprus Energy Regulatory Authority – CERA, which shall be in power by the end of 2014. The new regulations aim is to assist and enable opening of the energy market to the private investment sector.

ESI, with local partners, obtained a building and generating license for a 50 MW plant, which has been disregarded during the turbulence of the 2013 crisis. Nevertheless, ESI is positive of the sustainability of the effort to join the liberalized market as the first private power producer in Cyprus.

Based on the continuous cooperation with:

• CERA – Cyprus Energy Regulatory Authority (www.cera.org.cy)
• TSO – Cyprus Transmission System Operator (www.dsm.org.cy)
• DEFA – Cyprus Directors of the Natural Gas Public Company (www.defa.com.cy)

on one side and cooperation with possible consumers (large scale industrial, airports, hotel industry…) ESI has a comprehensive knowledge of the market needs, based on which a realistic business plan and Financial Model have been prepared.

We have also identified a number of locations for our project, all in the vicinity of the Vassiliko Industrial Zone area. This area is foreseen as the location where the natural gas shall be made available and which is, at the present, the strategic location of HFO storage facilities.

Considering the preferred power generation technology, ESI considered the possible solutions that can satisfy, on one hand a period of HFO use, as the main fuel, and instantaneous natural gas future implementation. Based on thorough studies, of the technical, financial and efficiency factors, ESI has opted for Wärtsilä internal combustion “multi fuel” engines of ~ 49 MWe, including the heat recuperation system and steam turbine unit of ~ 3 MWe capacity. Also, ESI has commenced negotiations with MVM-OVIT from Hungary on being the primary financier and future major owner of the power plant in Cyprus. According to the available documentation so far, ESI has developed a dynamic financial model showing all key financial and profit performance indicators of this investment.

ESI Ltd has ensured 80% of project financing for the project and welcomes an interested credible, reliable and experienced investor to provide equity for the remaining part of the project and in return become a shareholder of the first private thermal power plant in Cyprus.

A new SPV company Cyprus Power System - CPS has been formed in January 2015 to support the local activities for this project.

For any additional inquiries feel free to contact ESI at +381 11 4126683 or +381 64 8731106, or via e-mail at nikola.milutinovic@esi.co.rs

• Presentation of the CPS project (in .pdf format)

ESI is engaged in management and development of the Project TPP Bar. This project includes construction of a gas fired thermal power plant, gas terminal and storage tanks, to be located in the nearby area of Bar Port in Montenegro.

In this project ESI is present as the leader of the consortium joined by CommunauTrade EU from Hungary, Romano Port S.A. from Albania, and works in cooperation with SS&A Power Consultancy GmbH from Switzerland. Legal grounds for the TPP Bar project are defined in the Montenegro’s Law on Concessions.

ESI had numerous talks with the officials of the Montenegro’s Government (amongst others Ministry of Economy (department for mining and energy etc.) and has full support for the project implementation.

ESI has developed the Preliminary Feasibility Study for TPP Bar Project. This document encompases all relevant technical, financial, legal, environmental and managing aspects of the project development.

ESI welcomes an interested credible, reliable and experienced investor to provide equity for further development of the TPP Bar project and in return becoming a shareholder of the first private gas fired thermal power plant in Montenegro.

• Presentation of the TPP Bar project (in .pdf format)

Thermal Power Plant Trbovlje is located on the bank of Sava river near Trbovlje, Slovenia and has two generating units. The first production unit (125 MW steam unit) generates the electrical energy from brown coal. The second production unit, constructed as a combined gas-steam unit, includes two gas units of 63 MW joint power using gas oil for the electrical energy production.

ESI is engaged on the analysis of the legal, economic and technical part for the well-known investors who requested the assessment of opportunities for resuming the operation and purchase of the power plant Trbovlje.

For any additional inquiries feel free to contact ESI at +381 11 4126683 or +381 64 8731106, or via e-mail at milan.radunovic@esi.co.rs

ESI is developing and managing the construction of 5 small hydropower plants in southeastern Serbia. This project is ESI’s own investment.

Total estimated installed capacity is estimated at 2.19 MW. ESI has developed the initial technical design documentation, accompanied by a dynamic financial model showing all key financial and profit performance indicators of this investment. Also location permits have been obtained and ESI is in final stage of completing the documentation required for obtaining the construction permit.

ESI welcomes an interested credible, reliable and experienced investor to provide financing for further development of the five small hydropower plants and in return become their majority.

If you would like to receive presentation about small hydro power plants please contact us on e-mail kristina.pakevic@esi.co.rs

• Presentation of the SHPPs project (in .pdf format)

Island of Sahalin (rus. Сахалин, јаp. 樺太島, Karafuto-tō) is located in the Pacific ocean in the far east of Russia, northern of Japan. North from Sahalin is the Okhotsk sea, and on the south is the Japanese sea.

ESI has signed a consultancy contract with company Khlomsk-Neftegas headquartered in Moscow, Russia who is who is the owner of the licenses required for the start of oil exploitation on the southwest part of Sahalin.

For any additional inquiries feel free to contact ESI at +381 11 4126683 or +381 64 8731106, or via e-mail at predrag.todic@esi.co.rs

Energy System Integrator (ESI) in cooperation with studio Architecture studio URBIS from the U.S. (www.urbis-group.com) and design team of FSDI (China Railway First Survey and Design Institute Group; www.fsdi.com.cn) from China, presented a technical - financial bid for the works on the E-763 high way, from Ljig - Požega. Bid covers three sections:

• Section IV: Preljina - Prijevor
• Section V: Prijevor - Lucani
• Section VI: Lucani - Požega

Offer was presented to the Ministry of Construction and Urban Planning of the Republic of Serbia. On this occasion, ESI and FSDI also signed a memorandum on long-term and strategic cooperation between for implementation of similar projects in the future.

Company ESI is participating in the writing of studies and implementation of procedures relating to the Public-Private Partnership - PPP in the Republic of Serbia.

For the Ministry of Civil Engineering and Urban Planning ESI has entered into an agreement on 22 July 2013 years (number 404-02-00044 / 2013) to produce a "Feasibility study for a concession on the part of Motorway Route E-763, from Belgrade to Pozega". Based on the study it was decided to realize the first PPP project in road infrastructure in the Republic of Serbia on the sections Surcin-Obrenovac and Preljina-Požega. For a job well done Ministry of Construction and Urban Planning on 27 September 2013, sent a letter (number 404-02-00044-1 / 2013) in which it was stated: "Energy System Integrator Ltd. has made a quality work and in the agreed period for this case study". (See the letter from the Ministry here)

Employees of the company ESI continued the consulting activities in the further elaboration of the PPP project on Motorway sections line E-763, where for the Ministry of construction, transport and infrastructure involved in the development of "The E-763 Belgrade - Pozega concession for the construction, operation and maintenance - consulting services of technical, legal and financial advisor - financial and economic analysis of the effects of giving concessions "as well as additional risk analysis in accordance with the requirements of the ministries involved in the process of implementation of the project to the Government of the Republic of Serbia.

In addition to these activities, the employees are involved in the publication of PPP works at national and international conferences, spreading awareness of this kind of projects in the Republic of Serbia.

After the announcement of the third phase of liberalization of the electricity market, starting from January 1st 2015, the management of company "ESI" has decided to participate on the market as a supplier of electricity. As the prospects for the development of the market are large, it is also a opportunity for "Energy System Integrator" to position itself in the early phase of liberalization and perform as a competitive supplier. Since "ESI" is involved in various projects in the energy sector it was a logical idea to participate on the electricity market. Changing laws and liberalization of the market enables the company to achieve in this field and to be competent and competitive participant in the market, which will have a special significance after the completion of projects in the production of electricity. The company offers complete range that includes smart electric meters, modern software to monitor consumption and favorable conditions of tariffing electricity.

The number of license for the supply of electricity issued by Energy Agency of RS is 0149/14-LE-SN. Energy Identification Code (EIC) number is: 34X-0000000047-0