Events after the balance sheet date

On 23 February 2009 it was announced that Vattenfall has made an all cash offer of EUR 8.5 billion enterprise value for 100% of the shares in the Dutch energy company N.V. Nuon Energy. Nuon’s grid company Alliander is not included in the transaction. The partners have agreed that Vattenfall will initially acquire 49% of the shares. The remaining 51% of the shares will be acquired in the coming six years under fixed terms. Following the initial acquisition of 49%, Vattenfall will have operational control over Nuon. The transaction is subject to the approval of at least 80% of Nuon’s shareholders as well as merger control clearance by the European Commission. Nuon and Vattenfall expect to complete the closing of the transaction at mid-year 2009.