Voltalia SA — Earnings Release 2014

Jan 15, 2015

Commissioning of a second wind farm (30 MW) in Areia Branca, Brazil

2014 estimated revenue: €27.6 million; +48.1%

15 January 2015 - Renewable energy-based electricity producer Voltalia announces the launch of the Terral wind farm in late December 2014, the second phase of the Area Branca project in Brazil. With a total power of 30 MW (ten 3 MW turbines), Terral raises Voltalia's total production capacity to 133.1 MW as of 31 December 2014.

The commissioning of the Terral wind farm in the fourth-quarter of 2014 is in line with the provisional timetable announced during Voltalia's transfer to Euronext Paris. Construction of the Areia Branca project will be completed with the commissioning of the ten 3 MW turbines of the Carcara 1 wind farm between January and February 2015. This will bring Voltalia's total wind production capacity to 90 MW in Brazil, pending the completion of the ongoing SMG and Vamcruz projects (108 MW and 93 MW, respectively).

With the recent commissioning of the Adriers and Molinons wind power plants (10 MW each, in France) and the increased capacity of the Mana hydroelectric plant (0.9 MW, in French Guiana), Voltalia achieved in 2014 the major objectives of its ramp-up strategy: 80.9 MW of new capacity commissioned, boosting Voltalia's total production capacity to 133.1 MW as at end-December 2014.

Sébastien Clerc, Chief Executive Officer of Voltalia, said "The launch of second wind farm in Areia Branca (Brazil) marks the end of a year teeming with strategic, operational and financial achievements. Since our listing on Euronext Paris, we have achieved many objectives and I would like to thank all our teams and partners for this."

27.6 €M in revenues expected in 2014

Voltalia expects to generate consolidated revenues of around €27.6 million for the year ended 31 December 2014, a 48.1% increase compared to 2013. Growth was particularly robust in Q4 2014, driven by the ramp up of the new plants, mainly in Brazil but also in France.

This provisional consolidated revenues figure is neither the result of a comprehensive accountclosing process, nor a complete annual accounting review. 2014 consolidated revenues will be announced by Voltalia on 27 February 2015 (after market close), as announced previously.

Funding of the Company's development

In the interest of funding its development, Voltalia SA announced today the launch of a capital increase via a private placement of up to €30 million (see press release dated 15 January 2015).

Information file

An information filling document updating the Company's information has been released today (see 15 January 2015 company press release) by Voltalia and is available on its website (www.volalia.com) (the "Update").

Investor attention is drawn to Chapter 4 ("Risk factors") in the first part of the prospectus approved under the visa number 14-0315 dated 23 June 2014 and Section 1.1 of the Update.

About Voltalia (www.voltalia.com)

• Renewable energy-based electricity producer Voltalia develops and operates multi-energy projects: wind, solar, hydropower and biomass.
• Voltalia is present in Metropolitan France, Brazil, Greece and French Guiana.

 Voltalia has been listed on regulated market Euronext Paris since July 2014 (FR0011995588 – VLTSA).
Press Relations – Kablé Communication Finance	Investor Relations – Actifin
Marie-Hélène Veillon	Alexandre Commerot
Tel: +33 (0)1 44 50 54 70	Tel: +33 (0)1 56 88 11 11
Email: marie-helene.veillon@kable-cf.com	E-mail: voltalia@actifin.fr

This press release and the information it contains in no way constitute an offer to sell or subscribe for, or a solicitation to purchase or subscribe for, shares in Voltalia (the "Company") in any country whatsoever, including the US, Canada, Australia or Japan.

This press release may contain forward-looking statements pertaining to the Company's targets and objectives. These forward-looking statements are based on the current estimates and projections of the Company's managers and are subject to risk factors and uncertainties, such as the Company's ability to implement its strategy, the development rate of the market in question, changes in technology and the competitive environment, regulatory changes, industrial risks and any risks associated with management of the Company's growth. The Company's targets and objectives mentioned in this press release may not be achieved due to these or other risk factors and uncertainties.