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On 22 February 2012 the Government of Ireland announced an asset disposal programme which included Bord Gáis Energy, the energy business of Bord Gáis Éireann (“Bord Gáis”).

ANNOUNCEMENT

14 February 2013

On 22 February 2012 the Government of Ireland announced an asset disposal programme which included Bord Gáis Energy, the energy business of Bord Gáis Éireann (“Bord Gáis”).

Bord Gáis has appointed RBC Capital Markets as financial advisor to advise the Board and management of Bord Gáis in relation to the proposed sale of Bord Gáis Energy.

Potential buyers are invited to contact RBC Capital Markets.

Contact:

Dai Clement

Ed Golder

Lorna Shearin

RBC Capital Markets

+44 (0)20 7653 4000

Notes

Bord Gáis comprises two major divisions: Bord Gáis Networks, which will remain in State ownership, and Bord Gáis Energy.

Bord Gáis Networks develops, operates and maintains the natural gas transmission network in Ireland and provides gas transportation services to suppliers and shippers.

Bord Gáis Energy is a leading vertically integrated utility, operating in the Irish generation and supply market and has a substantial portfolio of new assets under development. Bord Gáis Energy is targeting EBITDA of approximately €150m within the next five years.

Bord Gáis Energy operates across the full energy value chain:

  • A retail division providing gas, electricity and home services to residential and business customers in the Republic of Ireland;
  • firmus energy, a gas distribution and supply business in Northern Ireland;
  • A trading division responsible for the procurement of gas, electricity and carbon on wholesale markets; and
  • 684 MW of power generation assets with a substantial development portfolio.

This announcement contains forward looking statements about Bord Gáis, including financial projections and estimates and statements regarding plans, objectives and expectations. Forward-looking statements are based on current views and assumptions and involve known and unknown risks, uncertainties and other factors, many of which are outside the control of Bord Gáis and are difficult to predict, and that may cause actual results to differ materially from any future results or developments expressed or implied from the forward-looking statements. The forward-looking statements speak only as of the date of this announcement and Bord Gáis does not undertake any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.