INVESTOR PRESENTATION

COMPANY OVERVIEW

THE FRENCH RAILWAY NETWORK

ONE OF EUROPE’S LARGEST AND MOST INNOVATIVE RAILWAY INFRASTRUCTURE NETWORKS

0.2%

5 million

30,000 km

>1.1 billion

of French landscape

of track open to commercial services

2,000 km

of high-speed track (> 300 km/h in France)

52,000

employees (2015)

Overall european network

12.5% 36%

High-Speed Lines in Europe

passangers per day passangers in 2012

15,000

passanger & freight trains every day

574.8 km/h

World speed record on an HSL (April 3rd 2007)

Europe crossborder Passanger traffic

10% 25%

Europe crossborder Freight Transport

SNCF RÉSEAU IS THE OWNER AND MANAGER

OF FRANCE’S RAILWAY INFRASTRUCTURE TURNOVER BREAKDOWN IN 2014

TRAFFIC VOLUMES IN 2014 (490 millions of trains-kilometer)

(5.75 billlion euro)

8% Regional trains & Greater Paris 4 28% High-speed trains 15% Freight 8% National & InterRegional Expresses 1% Other

37% Regional trains 5% High-speed trains 3 13% Greater Paris 9% Freight 6% National & InterRegional Expresses

KEY MILESTONES SINCE 1997 Gradual opening of railway freight to competition 1st new freight operator

2005

1997

Creation of EPSF (security regulator) Full opening of the railway freight to competition

2006

Creation of RFF establishing a separation between the operator (SNCF) and the manager of the railway infrastructure

2009

Gradual opening of passenger crossborder traffic to competition

2010

Set-up of the French railway sector regulator ARAF

2012

Draft bill from the French government to set-up in 2015 a United Infrastructure Manager

2013

12 train operating companies on the network 29% market share for new freight operators

12 train operating companies on the network 36% market share for new freight operators

2014

2014

Railway reform Act, merging RFF, SNCF-Infra and DCF in one single independant EPIC: SNCF Reseau

SNCF RÉSEAU

A STATE-OWNED COMPANY SET UP BY AN ACT OF PARLIAMENT IN FEBRUARY 1997 AND CONFIRMED BY ANOTHER PARLIAMENT ACT IN AUGUST 2014 100% State-owned entity (French Republic). Under the control of the MCEFT (Mission of Economic & Finance Control of Transports), a Government Commissioner, the State Audit Committee as well as Statutory Auditors.

A specific and supportive bankruptcy remote legal status (Établissement Public Industriel et Commercial / Law of 1980). Compliant with European guidelines (Directive No. 91/440) on the liberalisation of rail activities by establishing the separation between operators and the manager of the railway infrastructure in France.

SNCF RÉSEAU MAIN RESPONSIBILITIES

MAINTENANCE, OPERATION AND MODERNISATION OF THE RAILWAY NETWORK THROUGH THE 35,000 EMPLOYEES IN HERITED FROM SNCF INFRA. Development and enhancement of rail assets to anticipate on future railway needs by managing its property assets and contributing to public sector development projects. Development of the network through reopening of existing lines and construction of new lines. Organisation of train services and development of rail traffic through the marketing of “train paths”, the railway equivalent of the time slot in air travel, which allows its clients to run a train from one point to another at a given time. Introduction of innovative financial solutions to allow for the expansion of rail transport by planning and raising funds for its investment operation and actively managing its debt.

MODERNISING

…AND CREATING TOMORROW’S TRANSPORT

Providing a modern and efficient network through renovation and modernisation

Major projects underway by 2017 2nd phase of the East European high-speed line: 106 km of new track between Metz-Nancy and Strasbourg.

TODAY’S EXISTING INFRASTRUCTURE… 973 km of rail track upgraded. 4,000 km of catenaries refurbished or checked. 788 switch frog changed. 135 km of renewal way and road bed will be achieved in 2015 (Twice as much as in 2014).

Bypass of Nîmes and Montpellier high-speed line: 60 km of new track between Nîmes and Montpellier. Brittany-Loire Valley high-speed line: 180 km of new track between Le Mans and Rennes. South Europe Atlantic high-speed line: 303 km of new track between Tours and Bordeaux.

SNCF RESEAU, A LEADING INVESTOR IN FRANCE, IS A STRATEGIC PUBLIC OPERATOR FOR THE FRENCH ECONOMY.” NEW INVESTMENT PROJECTS ARE DESIGNED TO MEET THE CHALLENGES OF A STEADY GROWING DEMAND FOR RAILWAY TRANSPORT.” A 6.8 BILLION EURO INVESTMENT PROGRAMME IN 2014 7,81

8,000

6,88

6,000 4,485

4,000 3,000

Productivity, safety, quality and renewal

5,378

5,000

3,057

3,198

3,212

60%

2,000 1,000 0

2008

2009

2010

40%

2011

2012

2013

2014

Network development

Photos: Médiathèque SNCF Design & production by: Toolsmachines’ – JULY 2015