Elia Group NV/SA — Earnings Release 2013

May 15, 2013

Keizerslaan 20 Boulevard de l'Empereur, 20 B-1000 Brussels Tel.: 02 546 70 11 Fax: 02 546 70 10

PRESS RELEASE 15 May 2013

Interim statement: Q1 2013

• Finalisation of transmission tariff adjustment process
• Successful €750 million bond issue by Elia Transmission
• Belfius Insurance increases stake in Elia Group; Cécile Flandre, CFO of Belfius Insurance, joins Elia Board of Directors
• 50Hertz and Energinet.dk start construction of offshore grid in Baltic Sea

Financial forecasts

As reported in the 2012 annual results, Elia Group is unable to make any concrete forecasts since the annual result depends on parameters which will not be known until the end of 2013 (such as the inflation rate for December 2013) or which can only be calculated at that time (such as the average Belgian 10 year interest rate; the Elia share beta; total investments by Eurogrid/50Hertz).

The Board of Directors will propose to the Annual General Meeting of shareholders on 21 May 2013 a dividend of €1.47 gross per share. The dividend for FY 2012 will be paid out on 5 June 2013 (date of detachment of the coupon is 31 May before the opening of the stock exchange) in exchange for coupon 9. Payment will be made at Belgian branches of Belfius, BNP Paribas Fortis, KBC Bank and ING. ING is also the central payment agent.

Towards an adjustment of the transmission tariffs

In early April CREG published its updated tariff methodology for determining transmission tariffs following the public consultation of market players organised in March on a draft version it had developed taking account of the necessary modifications in line with changes to the law and the judgment of the Brussels Court of Appeal (which in February annulled the CREG decision approving the 2012-2015 transmission tariffs).

Applying this methodology, Elia submitted an adjusted tariff dossier to CREG. The matter is under study with CREG, which should publish its decision in May and enable the current situation to be adjusted.

Successful €750 million bond issue within Elia Transmission's €3 billion EMTN programme

Elia Transmission successfully issued a dual-tranche Eurobond, specifically a €550 million 15-year tranche and a €200 million 20-year tranche. The issue is part of the €3 billion EMTN programme. Investors reacted positively at roadshows and during the development of the order book, with more than €2.95 billion in offers from 210 investors from 21 countries. Thanks to the high level of interest prices for the 15-year and 20-year tranches could be set mid-swap at +117 bp (3.25% coupon) and 123.3 bp (3.5% coupon) respectively.

The proceeds from the bond issue will be used to refinance existing loans and for general corporate purposes. The bonds will be listed on NYSE Euronext Brussels.

With this bond offering, Elia confirms its financial strategy for managing its debt via a combination of medium-term and long-term debt.

Cécile Flandre, CFO of Belfius Insurance, joins Elia Board of Directors

The Elia Board of Directors approved the appointment of Cécile Flandre as a director of Elia, as proposed by core shareholder Publi-T. She is taking over from Leen Van den Neste.

Cécile Flandre is Chief Financial Officer of Belfius Insurance. A mathematician and an actuary, she has previously held various positions in the financial sector and the supervision of insurance companies at the National Bank of Belgium.

By way of reminder, the Elia Board of Directors comprises 14 directors, half of whom are independent.

At its session on 28 February 2013, the Board of Directors also welcomed for the first time the two government representatives appointed in accordance with the new Electricity Act (law of 8 January 2012) incorporating into Belgian law the provisions of the European Union's 3rd Energy Package.

Belfius Insurance increases stake in Elia Group

On 7 February Belfius Insurance announced that it had purchased 1,400,000 Elia shares (2.31% of the total number of shares) on Euronext Brussels. Belfius Insurance, which already had a stake in Elia, now holds 3,276,497 shares, i.e. 5.41% of the total.

The management of Elia Group is delighted with the confidence shown in its corporate strategy by Belfius Insurance through its increased shareholding in the company.

50Hertz and Energinet.dk start construction of offshore grid in the Baltic Sea

After intensive consultation 50Hertz and Danish transmission system operator Energinet.dk have concluded a cooperation agreement on the Kriegers Flak Combined Grid Solution (CGS). This project combines the connection of existing joint offshore wind farms with the installation of a new interconnector at their borders. The promotion of renewable energy, the international electricity trade and security of supply all benefit from this decision. Accordingly, the project has been welcomed by the European Union.

Final step for the planning approval procedures concerning the 380-kV-line "Bärwalde – Schmölln"

On February 18, 50Hertz received the positive decision of the regional public authority concerning the planning approval procedure for the line "Bärwalde – Schmölln". At the moment, 50Hertz is preparing the construction of this new and optimized line. The upgrade of the existing line will enable 50Hertz to include increased installed renewable energy capacities. The old line between Bärwalde and Schmölln was constructed in the days of the old GDR, and does no longer fit the current transmission needs.

Publication and consultation of the German wide grid extension plan and - for the first time – the offshore grid extension plan

On March 2, the four German TSO's published the drafts of the grid extension plan 2013 and for the first time the offshore grid extension plan 2013. Both plans document the transmission needs onshore and offshore for the next decade. This publication had also been the signal for the public consultation (expiring on April 14) of both plans in several regions of Germany. Suggestions made during this public consultation will influence the second draft of both plans. This second draft will be published in summer 2013.

Launch of dedicated power spot and clearing exchange APX by TenneT and Elia System Operator

As of 1 March 2013 APX-ENDEX has been split into a power spot and clearing entity and a derivatives and spot gas entity. With increased strategic flexibility, APX remains as a leading trading platform for power spot contracts across Belgium, the Netherlands and the UK. It is driven by the dedication to further develop these markets and provide the best trading and clearing solutions to its market participants. It will continue its focus on European electricity market integration together with the TSOs and other power exchanges and will remain dedicated to respond to the needs of the market by providing quality products and services.

APX will continue to provide premier clearing services. All power spot trades executed on the APX platform will be cleared by APX, and APX will provide spot trade clearing services also to other exchanges, further strengthening the current efficient spot market clearing solution to the benefit of all market participants.

APX is headed by Bert den Ouden, the former CEO of APX-ENDEX, and James Matthys-Donnadieu, the current CEO of Belpex and former Management Board member of APX-ENDEX.

The share capital is held by TenneT Holding B.V. (70.8%) and Elia System Operator N.V. (29.2%).

Elia signs 2-year consultancy agreement with Turkish transmission system operator TEIAS

Elia Group, RTE and Adetef (the French Agency for International Technical Cooperation) have signed a contract with Turkish transmission system operator TEIAS for a consultancy project worth €2 million, to be financed by the European Union. The project aims to help TEIAS further develop its activities and to adapt its procedures and systems to European standards. Elia will work specifically on the section on ensuring personal safety and security for installations.

Financial calendar

Trading ex-coupon number 9 31 May 2013 Payment of dividend for 2012 5 June 2013 Publication of half-yearly results for 2013 29 August 2013 Update Q3 2013 15 November 2013

About Elia:

The Elia Group is organised around two electricity transmission system operators (TSOs): Elia Transmission in Belgium and 50Hertz Transmission (in which Elia has a 60% stake), one of the four German transmission system operators, active in the north and east of Germany. With 1,900 employees and a transmission grid comprising some 18,300 km of high-voltage connections serving 30 million consumers, the Elia Group is one of Europe's top 5 TSOs. It efficiently, reliably and securely transmits electricity from generators to distribution system operators and major industrial consumers, while also importing and exporting electricity from and to neighbouring countries. The Group is a driving force behind the development of the European electricity market and the integration of energy generated from renewable sources.

In addition to its system operator activities in Belgium and Germany, the Elia Group offers businesses a range of consultancy and engineering services.

The Group operates under the legal entity Elia System Operator, a listed company whose reference shareholder is municipal holding company Publi-T.

For more information, contact Elia:

Media:
Axelle Pollet	+32 2 546 75 11	+32 475 84 38 91	axelle.pollet@elia.be
Barbara Verhaegen	+32 2 546 73 78	+32 473 65 39 47	barbara.verhaegen@elia.be
Investor relations:
Tom Schockaert	+32 2 546 75 79	+32 494 42 28 65	investor.relations@elia.be
	Website : this press release is abailable on www.elia.be