Business combinations

Eneco acquired various solar farms from Fonroche, a French company, in the fourth quarter of 2012. This acquisition strengthens Eneco’s market position in France. The acquisition was of the entire share capital and control of various specially incorporated companies for a total acquisition price of € 44 million. € 22 million was paid in cash at 31 December 2012 and the remainder of the acquisition price is expected to be paid in the first half of 2013 once the vendor has met its final obligations. The solar farms acquired contributed revenue of € 0.4 million and an operating profit of nil from the acquisition date.

At acquisition date

Fonroche

Property, plant and equipment

44

Working capital including cash and cash equivalents

– 4

Provisions

4

Net identifiable assets and liabilities

44

Transaction result

Consideration paid (in cash and cash equivalents)

44

Consideration paid in 2012 (in cash and cash equivalents)

22

Cash and cash equivalents acquired (-) / disposed (+)

Cash acquired (-) or disposed of (+)

22