EXECUTION VERSION, inal Terms dated 10 October 2013 ZAPADOSLOVENSKA ENERGETIKA, as. Issue of FUR315,000,000 4.000 per cent. Notes dc 2023 ‘under te €1,000,000,000 Kuro Medium Term Note Programme The Rase Prospectus refered t© below (as completed by these Final Terms) has been prepared onthe hass that any offer of Notes in any Member State of the European Ezoaomic ‘Area which has implemented the Prospects Directive (eich, a "Relevant Member Stat) will be made pursuant t an exemption under the Prospecus Digestive, 2 implemented in that Relevant Member State, fom the requirement to publish a prospects for offers af the Notes. Accordingly any person mking or itending «0 make an offer in that Relevant “Member State of the Notes may only do so in cteumstances in which no obligation arises for the Issuer or any Dealer to publish a prospects pursuant to Article 3 of the Prospectus Directive of supplement prospectus purssint to Article 16 of the Prospectus Diretive, in ‘ach case, in eaton to such oer. Neither the Issuer nor any Dealer his authorise, nor do they authors, the making of any’ offer of Notes in any other ctcumstanecs. The expression ‘Prospectus Directive” means Ditetive 2003/71/EC (and amendments thereto, inching the 2010 PD Amending Directive, to the extent implemented in the relevant Member State) and includes any relevant implementing measures in the Relevant Member Stato and the expression "2010 PD Amending means Directive 2010/7310. PART A~ CONTRACTUAL TERMS Terms used herein shall be deemed 19 be defined 2s such forthe purposes of the Conditions he "Conditions”) set forth in the Base Prospectus dated 30 September 2013 which constitutes 2 base prospectus (the "Base Prospectus") forthe purpotes of the Prospectus Directive (Directive 2003/717EC), as amended, (he "Prospectus Directive"), This document ‘constitutes the Final Terms of the Notes described herein for the purposes of Amicle 8.4 of| the Prospectus Drestive. Those Final Terms contin the inl terms othe Notes and must be read in conumetion with such Base Prospectus, Full information onthe Issuer andthe oer ofthe Notes described herein is only milsble on the basis of the combination of these Final Terms and the Base Prospectus, These Final Terms and the Base Prospectus ar available for viewing st wi entalbank je and duting rnoemnal busines hours at Citibank. N.A., London Branch, Citigroup Cente, Canada Square, Canary Wharf, London E14 SLB, United Kingdom and copies may be obtained from Zipadostovenska energatiks, 23, Culenova 6, 816 47 Bratislava, Slovakia 1 Issuer padoslovensk energstika, as. 2% Series Number: 2 (ii) Tranche Number: 3. Specified Cureney or Currencies: Euro ("EUR") 4. Aggregate Nominal Armount [EUR35,000,000 © Series: EURS15.000,00018 Gi) Tranche: Issue Price (© Specified Denominations: Gi) Caeultion Amount (swe Date i) merest Commencement Dat: Maturiy Date: Inte Bais: Redemption Payment Basis: PuvCall Options: Status ofthe Notes: EUR315,000.000 99.814 per cent ofthe Aggregate Nominal Amount FUR100,000 and integral utiles of EURI,000 in excess theo? EURI,000 14 October 2013, Issue Date 14 October 2005, 4.000 percent. Fixed Rate Subject to any purchase and cancelation (oF early redemption, the Notes will be redeemed on the Maturity Date at 100.00, percent. of hei nominal mount. Change of Corto! Put (Gather particulars specified below) Senior i) Date approval for issuance of 27 Seplember 2013 Notes obtained Method of distribution: Syndicated PROVISIONS RELATING TO INTEREST (IF ANY) PAVARLE Fixed Rate Note Provisions © Rate oF interest (i) tneres Payment Date) (ity Fxed Coupon Amount: (iv) Broken Amount): (9) Day Count Fraction: (i) Detention Dates loating Rate Note Provisions Applicable 4.000 per cent. per annum payable anally in areae 14 October in each year EUR4O 00 per Caleulaton Amount Not Applicable ‘Actul/Actal IEMA) 14 October in cach year [Not Applicable16, Zero Coupon Note Provisions Not Applicable PROVISIONS RELATING TO REDEMPTION 17, Cal Option [Not Applicable 18, Pat Option Applicable 19, EUR,000 per Calelation Amount 20. arly Redemption Amount arly Redemption Amounts) per EURI.000 per Caleulation Amount (Calculation Amount payable ‘on redemption for taxation reasons o¢ on vent of default) oF other” carly redemption GENERAL PROVISIONS APPLICABLE TO THE NOTES 21, Form of Notes: Bearer Notes: ‘Temporary Global Note exchangeable for a Permanent Global Note which is exchangeable for Definiive Notes inthe limited citcumstances specified inthe Permaneat Global Note 22. New Global Note Yes 23. Additional Financial Cente: London 24, Talons for future Coupons of Receipts No to be atached to Definitve Notes (and dutes on which such Talons mature 25. Consolidation provisions: “The provisions in Condition 18 (Further Issues) apply DISTRIBUTION 26.) IF syndicated, names and Citigroup Global Markets Limited ineswes of Managers a Citigroup Cente Underwriting commitments: "33 Canada Square Canary Wharf London E14 SLB United Kingdom om tate M meatsRaiffeisen Bank Inerationsl AG ‘Am Staipark 9 130 Wien Austria Soci Générale “Tour Societe Générale VTeours Valmy ‘52987 Paris La Defense Codex France Gi) Stabilising Managerts)(ifany)> Citigroup Global Markets Limited 27. IPnon-syndicated, name and address of Not Applicable Dealer PURPOSE OF FINAL TERMS, “These Final Terms comprise the final terms required for issue and admission o tang on the regulated market ofthe Irish Stock Exehange of the Notes described heeia pursuant tothe £€1,000,000,000 Euro Medium Term Note Programme of Zépadoslovenskéenerzetika, as. Signed on behalf of Zipadoslovensk enerpetika as By Duly wutngrived — : : By Duly authorised By Sy oar oa Diy athorisedPART B- OTHER INFORMATION 1. LISTING AND ADMISSION TO TRADING Listing: Irish Stock Exchange iy Admission wo trading Application has been made by the ssuer (or fn its behalf) forthe Notes to be admitted {o trading on the regulated marke of the Trish Stock Exchange with effect fom 14 October 2013, (ii) Estate of total expenses EURSOO related to admission trading 2. RATINGS: Ratings: The Notes 19 be issued are expected to be rated Standard & Poor's Credit Market Services Europe Limited: BBB Standard & Poor's Credit Masket Services Europe Limited is established in the EU and registered under Regulation (EC) No. 1060/2009 as amended by Regulation (EC) No. 51372011 (the "CRA Regelation”). A list of rogistered credit rating agences is published at the European Securities and Market" Authoritys| website: ‘ww csmacuropa.et 3. INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE/OFFER, Save for any Tes payable wo Citigroup Global Markets Limited and Soci Générale (ihe. "Bookrunners?) and Raiffeisen Bank Intemational AG (iogeer ith the Bookranners, the “Joiat Lead Managers), so Tar a the Issuer s are, ao person. involved in the offer ofthe Notes has a interest materiel tthe of. 4 YIELD. Indication of yield 4.023 percent 5. OPERATIONAL INFORMATION xS0979598462 097959846Any clearing system(s) other than Buroclear Bank S.AJN.V. and Clearstream Banking, soit anonyme ‘and. the relevant identification number(s): Detivery Names. and addresses of addtional Paying Agen) (fay) Name of ferent from ulation Agent, if Fiscal Age Intended to beheld in a manner which would allow Eurosysem eligibility [Not Applicable Delivery against payment [Not Applicable [Not Applicable Yes [Note that the designation "yes" simply means thatthe Notes are inlended upon {issue tobe deposited with one of the ICSDs as common” safekeeper and. does not recessaily- mean thatthe Notes will be recognised as eligible collateral for Eurosystem monetary poiey and intra day credit operations by the Eursystem either Upon issue oF at any of all times during their life. Such recognition will depend typon the ECB being satisfied that Eurosystem eligibility crteria have been