Capital structure

Share capital

At 31 December 2009 the share capital of Alpiq Holding Ltd. amounted to CHF 271,898,730, divided into 27,189,873 fully paid up registered shares with a par value of CHF 10 each.

Alpiq Holding has no conditional or additional authorised capital.

Changes in equity

Statements of Changes in Equity are presented in the Financial Report, on pages 72 to 73 in the Alpiq Group's consolidated financial statements and on page 155 in the company financial statements of Alpiq Holding Ltd. Statements of Changes in Equity for 2007 can be found in the 2008 Annual Report of Atel Holding Ltd, on page 14 of the Financial Report in the Atel Group's consolidated financial statements and on page 92 in the company financial statements of Atel Holding Ltd.

Shares

Every share represented at the Annual General Meeting of Alpiq Holding Ltd. carries one vote. There are no restrictions on transferability or voting rights. The company has no participation certificates, bonus certificates or convertible bonds outstanding.

Shareholders at 31 December 2009

Alpiq Holding Ltd.

31.38 EOS Holding 25.00 EDFAI 13.63 EBM 7.12 EBL 5.60 Canton of Solothurn 5.16 A2A S.p.A. 2.30 EnBW 2.12 AIL 2.00 IBAarau 0.91 WWZ 4.78 Various (free float)

Percentage ownership interests.