Independent auditor’s report and assurance report

Customize annual report

To: the shareholders of Eneco Holding N.V. and all other stakeholders

Report on the financial statements and assurance report on the Key Performance Indicators included in the annual report 2013

We have audited the accompanying financial statements 2013 of Eneco Holding N.V., Rotterdam. The financial statements comprise the consolidated and the company financial statements. The consolidated financial statements comprise the consolidated statement of financial position as at December 31, 2013, the consolidated income statement, the consolidated statements of comprehensive income, changes in equity and cash flows for the year then ended, and notes, comprising a summary of the significant accounting policies and other explanatory information. The company financial statements comprise the company balance sheet as at December 31, 2013, the company income statement for the year then ended and the notes, comprising a summary of the accounting policies and other explanatory information.

We have also audited the Strategic Key Performance Indicators included in the annual report 2013 on pages 4, 5 and 6 with numbers 1, 2, 3, 7, 8, 10, 11, 12, 13, 14, 15 and 18 (‘the kpi’s’) and we have assessed whether the annual report 2013 has been prepared in accordance with the core requirements of the G4 Guidelines of the Global Reporting Initiative (GRI) with the objective to issue an assurance report that provides reasonable assurance.

The scope of our engagement is limited to the year 2013. We provide limited assurance on the kpi’s that were in scope in previous years. We do not provide any assurance on forward-looking information such as targets, ambitions, strategy, plans, expectations and estimates included in the annual report 2013.

Management’s responsibility

Management is responsible for the preparation and fair presentation of the financial statements in accordance with International Financial Reporting Standards as adopted by the European Union and with Part 9 Book 2 of the Dutch Civil Code, and for the preparation of the annual report 2013 in accordance with Part 9 Book 2 of the Dutch Civil Code.

Management is also responsible for the preparation of the annual report 2013 in accordance with the GRI G4 Reporting Guidelines, in accordance with GRI G4 Core level guidelines. The information in the annual report 2013 should be considered in the context of the reporting criteria selected and the scope as indicated on pages 157 and 158.

Furthermore management is responsible for such internal control as it determines is necessary to enable the preparation of the annual report 2013 and the financial statements that are free from material misstatement, whether due to fraud or error.

Auditor’s responsibility

Our responsibility is to express an opinion on the financial statements included in the annual report 2013, the kpi’s and on the correct application of the selected reporting guidelines based on our audit. We conducted our audit in accordance with Dutch law, including the Dutch Standards on Auditing and Assurance Standard 3410N, ‘Assurance Engagements relating to Sustainability Reports’. This requires that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance whether the annual report 2013 and the financial statements are free from material misstatement. 

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. Our responsibility also includes assessing the suitability of the sustainability reporting policies used by management and the consistent application of such policies, including assessing the suitability of the reporting criteria, the inclusiveness of the responses on the stakeholder dialogue and the overall presentation of the annual report 2013.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

Opinion on the consolidated financial statements

In our opinion, the consolidated financial statements give a true and fair view of the financial position of Eneco Holding N.V. as per December 31, 2013 and of its result and its cashflows for the year then ended in accordance with International Financial Reporting Standards as adopted by the European Union and with Part 9 of Book 2 of the Dutch Civil Code.

Opinion on the company financial statements

In our opinion, the company financial statements give a true and fair view of the financial position of Eneco Holding N.V. as per December 31, 2013 and of its result for the year then ended in accordance with Part 9 of Book 2 of the Dutch Civil Code.

Opinion on the annual report 2013

In our opinion, the kpi’s present correctly, in all material respects, the corporate social responsibility policy pursued by Eneco Holding N.V. It is also our opinion that the annual report 2013 has been prepared in accordance with the Reporting Guidelines of the Global Reporting Initiative G4, in accordance with GRI G4 Core level guidelines.

Comparative figures

For 2012 and 2011, we have performed procedures providing limited but not reasonable assurance with respect to the kpi’s selected in those years.

Report on other legal and regulatory requirements

Pursuant to the legal requirement under Section 2:393 sub 5 at e and f of the Dutch Civil Code, we have no deficiencies to report as a result of our examination whether the annual report 2013, to the extent we can assess, has been prepared in accordance with Part 9 of Book 2 of this Code, and whether the information as required under Section 2:392 sub 1 at b-h has been annexed. Further we report that the annual report 2013, to the extent we can assess, is consistent with the financial statements as required by Section 2:391 sub 4 of the Dutch Civil Code.

Rotterdam, February 28, 2014

Deloitte Accountants B.V.

Signed on the original

K.G. Auw Yang