Velcan Holdings

Pre-Annual General Meeting Information • May 22, 2015

PRESS RELEASE

Luxemburg, 22nd May 2015

VELCAN: NOTICE OF ANNUAL GENERAL MEETING TO BE HELD ON 24th JUNE 2015

Velcan announces to the shareholders of the company that the Annual Ordinary and Extraordinary General meeting will be held on Wednesday the 24th of June 2015, at the office of the Tabery & Wauthier Etude, 10 rue Pierre d'Aspelt, L-1142 Luxembourg, in order to approve the 2014 annual financial statements and vote on the proposed resolutions.

All required information and related documents will be available for downloading on the company's website on 22nd May 2015:

• Notice of the Annual Ordinary and Extraordinary General meeting;
• Board of Director's report on the resolutions proposed to the General Meeting;
• Text of the proposed resolutions;
• Single participation form

The annual management report and the audit reports are available on line since 28th April 2015.

The Board of Directors invites the shareholders to consult the following page: http://www.velcanenergy.com/investors-reports-accounts.htm

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Investor Relations Contact investor@velcan.lu Nicolas Konialidis konialidis@velcan.lu

About Velcan:

Velcan develops and operates hydro power concessions in emerging markets with untapped potential. Hydro power can be an important contributor to the economic development of these countries.

The Company's strategy is to become a market leader in hydro power concessions up to 200 MW. It is currently targeting India, Brazil, Laos and Indonesia for its investments.

As of May 2015, Velcan:

• Has built and operates its first hydroelectric concession in Brazil (15 MW),
• owns rights related to hydroelectric concessions projects amounting to over 896 MW in India, Brazil, Indonesia and Laos,
• has two pre-concessions in the Lao PDR for a total of 93 MW,
• Develops actively, jointly with a subsidiary of PLN and a local partner, a 59 MW hydroelectric project in Indonesia.

Velcan has offices in Luxemburg, Singapore, New Delhi, Vientiane, Jakarta and Saõ Paulo) and maintains personnel on its concession sites.

Velcan is listed on the Paris Stock Market (Euronext Alternext/Ticker ALVEL/ISIN FR0010245803).

Velcan never performed any Public Offer as understood under Directive 2003/71/CE of the European Parliament and Council.

Disclaimer

This press release contains prospective information about the potential of the projects in progress and/or of the projects of which the development has begun. This information constitutes objectives attached to projects and shall not be construed as direct or indirect net income forecast of the concerned year. Reader's attention is also drawn on the fact that the performance of these objectives depends on future circumstances and that it could be affected and/or delayed by risks, known or unknown, uncertainties, and various factors of any nature, notably related to economic, commercial or regulatory conjuncture, which occurrence could be likely to have a negative impact on future activity and performances of the Group.

This announcement does not constitute a public offering ("offre au public") nor an invitation to the public or to any qualified investor in connection with any offering. This announcement is not an offer of securities in the United States of America or in any other jurisdiction/country.