WÄRTSILÄ CORPORATION 瓦錫蘭公司 Kari Punnonen 凱瑞 Regional Director North East Asia 東北亞區域總監 Energy Solutions 能源方案部 28 February 2019 Corporate presentation 2018

Energy efficient solutions Company introduction 公司介紹 Energy Solutions 能源方案部 Marine Solutions 船舶方案部 Services 服務部 Wärtsilä Corporation was founded in 1834 in Finland (瓦錫蘭公司1834年成立于芬蘭) Approximately 18,800 professionals In over 200 locations In more than 70 countries 全球員工約18 800人, 涵蓋70多個國家200 多個工作地點 Energy efficient solutions 高效的能源方案 Gas based technology 天然氣技術 Innovative solutions 創新的解決方案 Net sales by business 2017 2017 年銷售額 Marine Solutions 船舶方案部 27% Energy Solutions 能源方案部 28% Services 服務部 45% Listed in Helsinki 赫爾辛基上市 5 billion € turnover 50億歐元營業額 Solid financial standing 穩定的財務狀況 27.03.2018 NEA meeting

Product and services globally 全球生產及服務據點 This is wärtsilä 瓦錫蘭 Product and services globally 全球生產及服務據點 Main engine production units 主要引擎生產工廠 Services network 服務據點 Production facilities (fully owned) 生產設施（全資） Production facilities (joint ventures) 生產設施（合資） 27.03.2018 NEA meeting

RES 80% Renewables as baseload The energy landscape is in transition towards more flexible and sustaintable energy systems. We envision a 100% renewable energy future. 能源的發展形勢正向更靈活和可持續的能源系統轉變. 我們展望100%再生能源的未來. Wärtsilä is leading the transition as the Energy System Integrator – We provide all the essential technologies, lifecycle services and optimised solutions for future energy systems. 瓦錫作為能源系 統整合商正在引領轉型 – 我們為未來的能源系統提供所必須的技術，生命週期服務和最佳的方案. Renewables expensive compared to fossil fuels Majority of energy produced by inflexible plants (coal, natural gas and nuclear) ”Peaking generation” and system balancing, offering inexpensive capacity Limited opportunities for storage to cost effectively address ancillary services 再生能源 RES 0% Good old days 美好的過去 Renewables reach grid parity with traditional generation Increasing intermittent load profiles increases operating costs and challenges business model Flexible thermal capacity replaces inflexible generation to enable more stable grids Energy shifting projects start to emerge RES 20% Tipping point 引爆點 Renewables become New baseload No role for inflexible generation High renewables case requires highly flexible thermal capacity to maintain system reliability Key component in a renewables as baseload grid. Energy shifting and overall grid balancing. RES 80% Renewables as baseload 以再生能源為基載 Excess renewable energy seen as raw material for other commodities (power to gas, fuel, water and food) Synthetic gas, biogas, or synthetic liquid fuels used for flexible back-up Power to gas for seasonal energy shifting, daily energy shifting with energy storage RES 100% Final push 終極目標 INFLEXIBLE GENERATION 不靈活的發電 FLEXIBLE 靈活發電 ENERGY STORAGE 儲能 RENEWABLE 再生能源 Let take this as a summary slide, basically summarizing the path

Reciprocating engines in the 21st century 二十一世紀的往復式引擎 Reciprocating engines are no longer a technology only suitable for small-sized projects or emergency generation 往復式引擎已不再是僅適用于小型項目或者緊急發電的技術 Today’s engines are competitive in many aspects 現今的引擎機組在許多方面具有競爭力 All plant sizes 1-600 MW 電廠規模 1 - 600 MW Operation on all kinds of gas and liquid fuels 可以以各種氣體和液體燃料運轉 Baseload, grid stability, standby-backup 適用于基載，電網穩定，備用 Combined cycle, CHP, trigeneration 應用于複循環，汽電共生，冷熱電三聯供 Industrial self-generation 工業自備電廠 They are excellent for Smart Power Generation, a concept in which Wärtsilä is the global leader 在智慧發電方面的優勢突出，瓦錫蘭是這一概念的全球領先 者 12 27.03.2018 NEA meeting

Ilo Toom, Project Manager at Kiisa for Elering 250 MW, Kiisa, Estonia 愛沙尼亞 250MW Kiisa 電廠 Kiisa Power Plant, Estonia 愛沙尼亞 Customer 客戶 Elering AS (Utility/TSO) Type 型號 Wärtsilä 34DF multi-fuel grid stability 雙燃料電網穩定 Operating mode 運轉模式 Peak load/stand-by & emergency 調峰/備用&緊急電源 Gensets 發電機組 27 x Wärtsilä 20V34DF Total output 總出力 250 MW Fuel 燃料 Natural gas, LFO 天然氣，柴油 Scope 供貨範圍 EPC 總承包 Delivered 交付 2013, 2014 ” For Elering, the specific technology was not so relevant. We had end results that needed to be met and Wärtsilä‘s engines simply offered an unrivaled solution.” Ilo Toom, Project Manager at Kiisa for Elering 對於 Elering, 具體的技術並不那麼重要，我們需要滿足最終的結果，瓦錫蘭的引擎機組提供了無與倫比的解決方案。 Kiisa 專案經理 IIo Toom 8/24/2018 State Grid Jiangsu training

Asia & Middle East, output: Energy SOLUTIONS 能源方案部 Installed power plant capacity 電廠安裝實績 65* GW in 177 countries around the world 在全球177個國家超過 65GW 3771 MW 4858 MW Europe, output: 17.3 GW 1854 MW 6867 MW 8995 MW 2527 MW Asia & Middle East, output: 27.4 GW 5285 MW 6838 MW Americas, output: 13.5 GW 1095 MW 1625 MW 1216 MW 1827 MW 9713 MW Africa, output: 7.2 GW 4627 MW Utilities 公用事業 1111 MW IPP’s 獨立發電業 Industrials 工業客戶 3293 MW Municipalities, co-ops, Oil & Gas etc. 市政，消費合作社，石油天然氣等 * Till Nov 2017 12.01.2018 SPG - TPC engine technical seminar

Energy solutions 瓦錫蘭能源方案部 Market for gas and liquid fuel power plants, <500 MW 小於500MW的燃氣和燃油電廠市場佔有率 Q2/2017–Q1/2018 Other GT’s 1% Ansaldo 9% MHI 14% GE 30% Total 18.1 GW Wärtsilä 21% (3,8 GW) Siemens 25% <500 MW market volume: 18.1 GW (20.1) Total market volume: 49.8 GW (46.8) Market shares are calculated on a 12 months rolling basis, numbers in brackets are from the end of the previous period. Market data includes all Wärtsilä power plants and other manufacturers’ gas and liquid fuelled gas turbine based power plants with prime movers above 5 MW, as well as estimated output of steam turbines for combined cycles. The data is gathered from the McCoy Power Report. Other combustion engines not included. In engine technology Wärtsilä has a leading position. 19 July 2018 Half year financial report 2018