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WE BUILD TRUST Issue 05 - Q2 / 2015RHI Newsletter

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02.Project Completion

EPC Project of Test Bench at GE Turbine Manufacturing Plant is Completed.

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Award NewsYamal LNG Contract Signed

Eurochem Usolsky Potash PlantContract Signed

Turkmenistan Ethane Cracker and Polyethylene/ Polypropylene Plant in Kiyanly Letter of Award ReceivedNorilskiy Nickel, Bystrinsky GOK Cooper-Iron-Gold Enrichment Plant Letter of Award Received

03.1Corporate Meeting

RHI Corporate Communication Meeting

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RHI Board Meeting and Management Meeting held

Turkish-Mozambican Business Forum on Construction

Gas to Liquid 2015

Gas to Gasoline Plant, Turkmenistan

GTG and Sulfuric Acid Production PlantLinde Azot Togliatti Ammonia Plant

RHI Corporate MoviePlease visit our website to watch the video:

www.rhi.ronesans.com

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Events

Social Life at Sites

RHI Latest Updates

News from Rönesans Holding Companies in Brief

Stoilensky GOK Pelletizing Plant, Russia

04.1On Site News

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Rönesans Holding Chairman Ms. Ipek Ilicak Kayaalp holds an RHI Corporate Communication Meeting

Turkmenistan International Gas Conference and Exhibition

05.1Events

RHI In Brief07.

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01.2 01.3

Award News

Award News Award News

RHI will be undertaking the construction of a CWP3B Package, which includes Mechanical Works and Electrical and Instrumentation works, EPC Stick Built Building construction and EPC Stick built Tanks.

By carrying out this project north of the Arctic Circle, RHI is operating in a challenging environment, with winter temperatures as low as -50 °C. The project will be realized as REGA, which is a joint venture between RHI and Gama. The photos show the signing ceremony and a bird’s eye view of the site.

Eurochem, leading Russian fertilizer producer, awarded contract to RHI for the construction works for the main unit at potash processing plant in Usolsky District, Perm Region, Russia.

This is Eurochem’s second potash project. The project is located near Russian’s traditional potash production sites at Verkhnekamsky. The Usolskiy potash project development, which has JORC proven and probable reserves of 420m tonnes 30.8% KCl, will take place in two phases, with production planned for late 2017 or early 2018. The mine life is expected to be 37 years.

The first phase’s capacity is expected to be 2.3m tpa potash. The second phase’s capacity will be 1.4m tpa.

In May 2015, Hyundai Engineering & Construction issued RHI a letter of award for the construction works in Kiyanly, for a Petrochemical Complex in Turkmenistan.

Hyundai Engineering Co. Ltd. (HEC) will be awarding RHI a contract for the following areas of the plant:• GSU (Gas Separation Unit) : 5 BCMA Gas feed• HDPE (High Density Polyethylene) : 386 kTA • Civil Works of ECU (Ethane Cracker Unit) : 685 kTA Ethane / LPG / NGL• Civil Works of Sea Water Intake Facility The contract is expected to be signed in Quarter 3, 2015.

YAMAL LNG Contract Signed

Eurochem Usolsky Potash Plant Contract Signed

Turkmenistan Ethane Cracker and Polyethylene/ Polypropylene Plant in Kiyanly Letter of Award Received

South Tambey LNG (JV of French Technip and Japanese JGC and Chiyoda) awarded contract to RHI for construction works of LNG Plant location in Yamal Peninsula in Arctic circle.

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RHI is currently in negotiations with Norilskiy Nickel for the construction of the Bystrinskiy enrichment plant in Zabaykalsky Krai, Russia. The site is located 650 km from Chita, the capital city of Zabaikalskiy Krai and 1000 km from Moscow. This is the first project which was awarded to RHI by one of the world’s largest and leading producers of nickel, palladium and copper. The Bystrinskoye deposit is located in the Zabaykalsky Krai. The nearest inhabited areas are the Novoshirokinskoye settlement, 14 km to the northeast, and Gazimursky Zavod, the district center, 25 km to the northwest.

The priority of Norilskiy Nickel is launching the key new greenfield Bystinsky project, which will become a Tier I asset upon launch, as “on time/on budget”. In 2010, front-end engineering was finalized for the design of the mining and processing works at the base of the Bystrinskoye deposit.

In 2013, as a means to expand the reserves, geological exploration and appraisal of copper-iron-gold deposits was carried out on both the flanks and deep horizons of the deposits. Drilling confirmed the extension of commercial mineralization on both the flanks

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Award News

Project Completion

Norilskiy Nickel, Bystrinsky GOK Copper-Iron-Gold Enrichment Plant Letter of Award Received

EPC Project of Test Bench at GE Turbine Manufacturing Plant is Completed

and deep horizons of the identified sites. The estimated increase in metal reserves is as follows: copper – 1.300.000 tons; gold – 116 tons; iron – 27.500.000 tons.

The project is expected to be commissioned by the end of 2017, reaching its design capacity of 10 million tons of ore by 2018.

RHI – the General Contractor of Russian Gas Turbines LLC (50% owned by General Electric, 25% by Inter RAO, 25% by UEC (subsidiary of Rostec)) has completed the construction of a Test Bench, which was previously handed over to the client for the GE Manufacturing Plant, constructed in Rybinsk, Russia, in 2014. The Plant is set to manufacture GE 6F.03 (6FA) gas turbines.

The first turbine was taken into a laboratory where test activities have taken place.

The Test Bench was executed by RHI on an EPC basis.

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03.1 Corporate Meeting

The major aims of the meeting were as follows:• Informing RHI Employees on the vision, targets and activities of Rönesans Holding Group companies.

• Informing RHI employees on the vision, targets, and current status of RHI projects.

• Establishing the platform for open discussion between employees, RHI Management and Holding Management participants took part in role-plays and strategic discussions, as well as improvement initiatives.

The same meeting was held in Ashgabat and is also planned to be held in Moscow during Quarter 3.

On June 3rd, 2015, Rönesans Holding Chairman Ms. Ipek Ilicak Kayaalp and RHI President Mr. Alptekin Tizer led the RHI Corporate Communication Meeting held at Rönesans Tower, Istanbul, Turkey. All RHI Turkey staff, as well as RHI Management teams from other countries, were present during the meeting. Also participating were Rönesans Holding Executives, Holding HR Team and Consultants.

RHI Corporate Communication Meeting

Rönesans Holding Chairman Ms. Ipek Ilicak Kayaalp led the RHI Corporate Communication Meeting

03.2 Corporate Meeting

RHI Board Meeting and Management Meeting held

In May-June 2015, both the Board of Directors Meeting and Management Meetings were held. During the meetings, the company performance was discussed and strategic decisions made. In line with the announcement of 2015 being “QHSE Year”, special programs for supporting HSE performance on sites were announced to Project Managers. It was underlined once again that performance evaluation and bonuses of project executives will be significantly influenced by HSE performance as one of the most important criteria.

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04.1 On Site News

RHI is realizing a project for the granulation of iron ore pellets for Stoilensky GOK, part of the NLMK group (Stary Oskol, Belgorod region, Russia). Stoilensky GOK, founded over 50 years ago, has been developing the Stoilensky Deposit. The production capacity of the new plant will be 6 million tons per year, and is scheduled to be operational in 2016. RHI has completed one of the significant milestones of the project - testing of the rotation system of the indurating machine and pellet cars.

Stoilensky GOK Pelletizing Plant

04.2 On Site News

In August 2014, a consortium of Renaissance Heavy Industries and Kawasaki Heavy Industries signed an EPC with Turkmengas to construct a GTG Plant in the Akhal Region.

Following completion of the first stage of the engineering works, RHI has now commenced construction work at the site. Commencement of the construction work has been commemorated with celebrations in accordance with local Turkmen traditions.

GTG – traditional Turkmenistan celebration of commenced construction works

RHI President and Chairman of the Board, Mr. Alptekin Tizer, and Vice-President, BD, Mr. Ahmed Abdullayev, will participate in the 18th Annual Gas to Liquid conference, to be held in London on October 12-13th, 2015. This event will provide the opportunity to hear about the latest developments in MEA and North America, as well as comparative analysis of global regions, including emerging markets and where GTL is headed to next. Participants will be able to hear the resource holders’ perspectives on long term market forecasts for the natural gas industry.

Mr. Abdullayev will be the keynote speaker and will deliver a presentation about “Construction issues for GTL Projects”.

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05.1 Events

RHI Headquarters and Turkmenistan top management participated in the Turkmenistan International Gas Congress and Exhibition, which took place on May 19-20th, 2015, in the Avaza tourist area, Turkmenbashi.

The main aim of the TGC was to discuss issues surrounding the diversification of hydrocarbon exports, the production of Turkmenistan, rich hydrocarbon resources and developing of the country’s gas refining industry.

Vice-President of Turkmenistan H.E. Mr. Hojamuhammedow, held discussions with RHI Management and guests at the RHI exhibi-tion stand.

Turkmenistan International Gas Conference and Exhibition

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Events

Events

Turkish-Mozambican Business Forum on Construction

Gas to Liquid 2015

On 6 May 2015, the Mozambican-Turkish construction sector business forum in the presence of Public Works, Housing and Water Resources Minister Mr. Carlos Martinho and Turkish Deputy Economic Minister Mr. Adnan Yıldırım was held in Maputo, Mozambique.

The Turkish Ambassador to Mozambique, Ms. Aylin Taşhan, said that Mozambique and Turkey have great potential to build partnerships in sectors such as construction and tourism, and suggested that the opening in October 2015 of an airline route between Mozambique and Turkey, operated by Turkish Airlines, will also allow greater proximity between both countries.

RHI was represented by Vice-President Mr. Ahmed Abdullayev, MEA Regional Director Mr. Ertan Kiral, and Country Manager Mr.Andre Velosa.

Mr. Abdullayev presented the capabilities of the companies and informed about the current activities and involvements of the group.

1. The Stoilensky GOK Pelletizing Plant Project has surpassed 2 million man hours without LTI.2. Trainings on Safety Leadership, Risk Analysis and Threat Recognizing were organized in the Stoilensky GOK Pelletizing Plant, Gazprom Neftekhim Salavat Comlex of Arcylic acid and acrylates, Gas-to-Gasoline GTG projects.3. The number of Renaissance Heavy Industries’ employees from 13 different countries including Construction Sites and Headquarters has reached 10.509.

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06.1 Social Life at Sites

GTG and Sulfuric Acid Production PlantOn Sunday, 31 May 2015, the personnel of two projects in Turkmenistan (Gas to Gasoline Plant and Sulfuric Acid Production Plant) and their families joined together and held a picnic surrounded by mountains and streams in Choli, just outside of Ashgabat. The picnic started with an early breakfast and continued with interactive games for both adults and children, and even singing accompanied by guitar.

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07.

Social Life at Sites

RHI Latest Updates

Linde Azot Togliatti Ammonia Plant

RHI In Brief

A Motivational Meeting was held on the site jointly with RHI and EPC Contractor Linde Engineering. It was a friendly atmosphere, with participants offered a barbecue and drinks.

In his speech held prior to the barbecue, the Project Manager, Mr. Cenk Tuzel, emphasized the importance of the health-security and safety, as 2015 was dedicated to quality control by Renaissance Heavy Industries. The Linde Project Director, Mr. Michael L. Miller, returned thanks to RHI project manager and also emphasized that all employees at the site should give priority to work safety. After the speech the barbecue party started.

Issue 05 - Q2 /2015RHI Newsletter

08. News from Rönesans Holding Companies in BriefRenaissance Healthcare Investment

Financing from Japanese giants for Renaissance health project in Yozgat, Turkey

Renaissance Construction Completion of project in Nigeria

The Rönesans Biz Küçükyalı Office Project has Become the First Campus Project in Turkey and Europe to be awarded the Leed Platinum Certificate.

Ongoing construction of the “Adana Integrated Healthcare Campus” includes the building of a General Hospital, as well as departments for Cardiology, Maternity, Oncology, Physical Therapy and Psychiatry, making a total of 6 hospital buildings. With an investment of 540 million Euro, Renaissance Healthcare Investment will help the city of Adana become one of the world’s most important health centers.

Renaissance Real Estate Investment has developed an A+ class Office Project in Küçükyalı, Istanbul, with environmentally friendly architectural design and engineering. It has become the first campus project in Turkey to be awarded the prestigious Leed Platinum Certificate. The Office Project construction, which was completed by Renaissance Real Estate Investment in the last quarter of 2014.

Renaissance Healthcare Investment, part of Rönesans Holding, has completed work on the 475-bed Yozgat City Hospital, the second of the “City Hospitals” project. On June 2nd, 2015, a signature ceremony confirmed an investment of 111 million euros, out of a total of 139 million euros, from two large Japanese banks.

The opening of the Sheraton Four Points Hotel in Nigeria, is the first completed project in Nigeria for Renaissance MEA (Middle East & Africa), part of the Rönesans Holding Group. President of Renaissance Middle East & Africa Construction Mr. Mustafa Özsüt, said; “We are now going to be starting new projects in several places in Africa”. Renaissance MEA Construction is now preparing to undertake hotel and shopping mall projects in the Nigerian cities of Lagos, Abuja, and Port Harcourt.