bentley infrastructure 500 top owners ranking

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www.bentley.com 1 *As measured by reported net tangible fixed assets. Bentley Infrastructure 500 Top Owners Ranking Data Results for 2010 Rank Company Name Headquarters Country Infrastructure Value* (millions USD) 1 UNITED STATES GOVERNMENT United States 282,700 2 ELECTRICITE DE FRANCE SA - EDF France 186,466 3 JOINT STOCK COMPANY GAZPROM Russia 161,813 4 PETROCHINA COMPANY LIMITED China 155,973 5 EXXON MOBIL CORP United States 139,116 6 PETROLEO BRASILEIRO S.A. - PETROBRAS Brazil 132,286 7 ROYAL DUTCH SHELL PLC Netherlands 129,149 8 U.S. DEPARTMENT OF THE ARMY United States 122,145 9 ENEL SPA Italy 113,951 10 NIPPON TELEGRAPH AND TELEPHONE CORPORATION Japan 107,856 11 THE TOKYO ELECTRIC POWER COMPANY INCORPORATED Japan 106,455 12 BP P.L.C. United Kingdom 103,686 13 WAL MART STORES INC United States 102,307 14 STATE OF CALIFORNIA United States 102,201 15 FERROVIE DELLO STATO S.P.A. Italy 101,660 16 AT&T INC. United States 100,093 17 GDF SUEZ France 99,457 18 CHEVRON CORPORATION United States 96,468 19 CHINA PETROCHEMICAL CORPORATION China 96,105 20 VERIZON COMMUNICATIONS INC United States 91,466 21 ENI SPA Italy 91,013 22 CONOCOPHILLIPS United States 87,708 23 E.ON AG Germany 87,570 24 CHINA NATIONAL PETROLEUM CORPORATION China 87,175 25 STATE OF NEW YORK United States 80,183 Introducing the Bentley Infrastructure 500 Bentley is pleased to present the first Bentley Infrastructure 500 Top Owners — a ranking of the top owners of infrastructure around the world from both the public and private sectors that will be published annually. The rankings make it possible to readily compare investment levels across types of infrastructure, regions of the world, and public and private organizations. Bentley Systems has compiled the Bentley Infrastructure 500 to help global constituents appreciate and explore the magnitude of investment in infrastructure and the potential to continually increase the return on that investment. The infrastructure value represented is over US$13 trillion, which is close to the U.S. annual GDP and equal to the combined annual GDPs of China, Japan, and Germany. Bentley itself is committed to enhancing ROIs through leveraging information modeling in integrated projects to create more intelligent infrastructure on behalf of owner organizations.

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Page 1: Bentley Infrastructure 500 Top Owners Ranking

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www.bentley.com1

*As measured by reported net tangible fixed assets.

Bentley Infrastructure 500 Top Owners RankingData Results for 2010

Rank Company Name Headquarters CountryInfrastructure Value* (millions USD)

1 UNITED STATES GOVERNMENT United States 282,700

2 ELECTRICITE DE FRANCE SA - EDF France 186,466

3 JOINT STOCK COMPANY GAZPROM Russia 161,813

4 PETROCHINA COMPANY LIMITED China 155,973

5 EXXON MOBIL CORP United States 139,116

6 PETROLEO BRASILEIRO S.A. - PETROBRAS Brazil 132,286

7 ROYAL DUTCH SHELL PLC Netherlands 129,149

8 U.S. DEPARTMENT OF THE ARMY United States 122,145

9 ENEL SPA Italy 113,951

10 NIPPON TELEGRAPH AND TELEPHONE CORPORATION Japan 107,856

11 THE TOKYO ELECTRIC POWER COMPANY INCORPORATED Japan 106,455

12 BP P.L.C. United Kingdom 103,686

13 WAL MART STORES INC United States 102,307

14 STATE OF CALIFORNIA United States 102,201

15 FERROVIE DELLO STATO S.P.A. Italy 101,660

16 AT&T INC. United States 100,093

17 GDF SUEZ France 99,457

18 CHEVRON CORPORATION United States 96,468

19 CHINA PETROCHEMICAL CORPORATION China 96,105

20 VERIZON COMMUNICATIONS INC United States 91,466

21 ENI SPA Italy 91,013

22 CONOCOPHILLIPS United States 87,708

23 E.ON AG Germany 87,570

24 CHINA NATIONAL PETROLEUM CORPORATION China 87,175

25 STATE OF NEW YORK United States 80,183

Introducing the Bentley Infrastructure 500Bentley is pleased to present the first Bentley Infrastructure 500 Top Owners — a ranking of the top owners of infrastructure around the world from both the public and private sectors that will be published annually. The rankings make it possible to readily compare investment levels across types of infrastructure, regions of the world, and public and private organizations.

Bentley Systems has compiled the Bentley Infrastructure 500 to help global constituents appreciate and explore the magnitude of investment in infrastructure and the potential to continually increase the return on that investment. The infrastructure value represented is over US$13 trillion, which is close to the U.S. annual GDP and equal to the combined annual GDPs of China, Japan, and Germany. Bentley itself is committed to enhancing ROIs through leveraging information modeling in integrated projects to create more intelligent infrastructure on behalf of owner organizations.

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*As measured by reported net tangible fixed assets.

Rank Company Name Headquarters CountryInfrastructure Value* (millions USD)

26 COMMONWEALTH OF AUSTRALIA Australia 77,752 27 TOTAL S.A. France 74,321 28 PETROLEOS MEXICANOS Mexico 74,096 29 PETROLEOS DE VENEZUELA S A Venezuela 73,012 30 ROADS & TRAFFIC AUTHORITY- NSW Australia 72,795 31 TOYOTA MOTOR CORPORATION Japan 71,967 32 ROSSIISKIE ZHELEZNYE DOROGI Russia 70,435 33 GENERAL ELECTRIC COMPANY United States 69,212 34 MINISTRY OF DEFENCE-UNITED KINGDOM United Kingdom 68,781 35 STATE OF TEXAS United States 67,327 36 VALE S.A. Brazil 66,169 37 DEUTSCHE TELEKOM AG Germany 65,501 38 IBERDROLA S.A. Spain 64,268 39 KOREA ELECTRIC POWER CORPORATION South Korea 63,553 40 EAST JAPAN RAILWAY COMPANY Japan 63,038 41 STATE OF FLORIDA United States 62,619 42 PORSCHE AUTOMOBIL HOLDING SE Germany 61,042 43 ARCELORMITTAL S.A. Luxembourg 60,385 44 CHINA MOBILE LIMITED China 59,484 45 GOVERNMENT OF SWEDEN Sweden 59,176 46 STATOIL ASA Norway 58,438 47 NEFTYANAYA KOMPANIYA ROSNEFT Russia 57,704 48 RESEAU FERRE DE FRANCE SA France 57,148 49 THE KANSAI ELECTRIC POWER COMPANY INCORPORATED Japan 56,282 50 SUNCOR ENERGY INC. Canada 54,925 51 OAO LUKOIL Russia 52,228 52 GOVERNMENT OF SWITZERLAND Switzerland 52,193 53 CHINA UNITED NETWORK COMMUNICATIONS LIMITED China 51,137 54 GOVERNMENT OF CANADA Canada 50,595 55 NETWORK RAIL LIMITED United Kingdom 50,082 56 CENTRAL JAPAN RAILWAY COMPANY Japan 49,769 57 COMISION FEDERAL DE ELECTRICIDAD Mexico 49,733 58 DAIMLER AG Germany 49,696 59 CITY OF HAMBURG Germany 49,562 60 QATAR PETROLEUM Qatar 48,703 61 BHP BILLITON Australia 47,929 62 NATIONAL GRID PLC United Kingdom 46,108 63 RIO TINTO Australia 45,803 64 TAIWAN POWER COMPANY Taiwan 45,768 65 TELEFONICA S.A. Spain 45,503 66 MOTORS LIQUIDATION COMPANY United States 45,240 67 HYDRO-QUEBEC Canada 44,902 68 REPSOL YPF S.A. Spain 44,631 69 CHUBU ELECTRIC POWER COMPANY INCORPORATED Japan 44,286 70 CHINA TELECOM CORPORATION LIMITED China 43,627 71 AMERICAN INTERNATIONAL GROUP INC. United States 43,395 72 REPUBLIC OF SOUTH AFRICA South Africa 42,760 73 VATTENFALL AB Sweden 42,581 74 CENTRAIS ELETRICAS BRASILEIRAS SA - ELETROBRAS Brazil 42,566 75 SAUDI BASIC INDUSTRIES CORPORATION (SAUDI JOINT STOCK COMPANY) Saudi Arabia 42,010

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*As measured by reported net tangible fixed assets.

Rank Company Name Headquarters CountryInfrastructure Value* (millions USD)

76 BROOKFIELD ASSET MANAGEMENT INC. Canada 41,664 77 NISSAN MOTOR CO LTD Japan 41,374 78 RWE AG Germany 41,240 79 NEW YORK CITY TRANSIT United States 40,611 80 XSTRATA PLC Switzerland 38,371 81 RELIANCE INDUSTRIES LIMITED India 38,147 82 DUKE ENERGY CORPORATION United States 37,950 83 SAUDI ELECTRICITY COMPANY - SEC Saudi Arabia 37,625 84 CANADIAN NATURAL RESOURCES LIMITED Canada 37,373 85 ANADARKO PETROLEUM CORP United States 37,204 86 CITY OF NEW YORK United States 36,892 87 TESCO PLC United Kingdom 36,844 88 GOVERNMENT OF HONG KONG S.A.R China 36,204 89 FERROVIAL, S.A. Spain 35,986 90 SOUTHERN COMPANY United States 35,595 91 GAS NATURAL SDG, S.A. Spain 35,558 92 KYUSHU ELECTRIC POWER COMPANY INCORPORATED Japan 35,461 93 ANGLO AMERICAN PLC United Kingdom 35,198 94 FRANCE TELECOM SA France 35,037 95 METROPOLITAN TRANSPORTATION AUTHORITY (NY) United States 34,694 96 EDP - ENERGIAS DE PORTUGAL, S.A. Portugal 34,582 97 JAPAN POST GROUP Japan 34,524 98 SAMSUNG ELECTRONICS CO., LTD. South Korea 34,191 99 UNIBAIL-RODAMCO SE France 33,960 100 OCCIDENTAL PETROLEUM CORP United States 33,645 101 TOHOKU ELECTRIC POWER COMPANY INCORPORATED Japan 33,520 102 SOCIETE NATIONALE DES CHEMINS DE FER FRANCAIS (SNCF) S.A. France 33,240 103 AMERICAN ELECTRIC POWER CO. INC. United States 32,987 104 OAO AK TRANSNEFT Russia 32,978 105 FLORIDA POWER & LIGHT COMPANY United States 32,411 106 ADMINISTRADOR DE INFRAESTRUCTURAS FERROVIARIAS Spain 32,243 107 MARATHON OIL CORPORATION United States 32,121 108 TRANSCANADA CORPORATION Canada 31,415 109 VODAFONE GROUP PUBLIC LIMITED COMPANY United Kingdom 31,273 110 STATE OF NORTH CAROLINA United States 30,994 111 MITSUBISHI ESTATE CO LTD Japan 30,799 112 DEUTSCHE BAHN AG Germany 30,656 113 NEW ZEALAND INVESTMENT HOLDINGS LIMITED New Zealand 30,382 114 U.S. DEPARTMENT OF THE AIR FORCE United States 29,623 115 INDIAN RAILWAYS India 29,483 116 VERMILION ENERGY IRELAND LIMITED Ireland 29,379 117 PG&E CORP United States 28,892 118 UNION PACIFIC CORP United States 28,401 119 WASHINGTON, STATE OF United States 28,100 120 STATE OF MISSOURI United States 27,790 121 PROVINCE OF BRITISH COLUMBIA Canada 27,300 122 CHESAPEAKE ENERGY CORP United States 26,710 123 CARGILL, INC. United States 26,353 124 USACE HQ United States 26,221 125 ENCANA CORPORATION Canada 26,173

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*As measured by reported net tangible fixed assets.

Rank Company Name Headquarters CountryInfrastructure Value* (millions USD)

126 CITY OF LOS ANGELES United States 25,893 127 HOME DEPOT INC United States 25,550 128 THE ROYAL BANK OF SCOTLAND GROUP United Kingdom 25,336 129 TARGET CORP United States 25,280 130 BURLINGTON NORTHERN SANTA FE CORPORATION United States 25,136 131 DOE - U.S. DEPT OF ENERGY United States 25,054 132 GEORGIA, STATE OF United States 24,865 133 TENNESSEE VALLEY AUTHORITY United States 24,828 134 HOLCIM LTD. Switzerland 24,738 135 COMMONWEALTH OF PENNSYLVANIA United States 24,690 136 HYUNDAI MOTOR COMPANY CO., LTD. South Korea 24,545 137 FEDERAL GRID COMPANY OF UNIFIED ENERGY SYSTEM Russia 24,478 138 AES CORPORATION United States 24,297 139 KOREA RAIL NETWORK AUTHORITY South Korea 24,291 140 EXELON CORPORATION United States 24,216 141 STATE OF OHIO United States 24,178 142 CNOOC LIMITED China 24,161 143 PRORAIL B.V. Netherlands 24,130 144 STATE OF MARYLAND United States 24,063 145 LAFARGE SA France 24,057 146 CHUGOKU ELECTRIC POWER CO INC Japan 24,049 147 COMCAST CORPORATION United States 23,855 148 HITACHI LTD Japan 23,805 149 GENERAL GROWTH PROPERTIES INC. United States 23,800 150 BASF SE Germany 23,460 151 CHINA SHENHUA ENERGY COMPANY LIMITED China 23,040 152 TRANSOCEAN LTD. Switzerland 23,018 153 VALERO ENERGY CORP United States 23,012 154 APACHE CORP United States 22,901 155 MOSCOW METRO Russia 22,797 156 PFIZER INC United States 22,780 157 ENTERGY CORP United States 22,768 158 AEROPUERTOS ESPAÑOLES Y NAVEGACIÓN AÉREA Spain 22,733 159 UNITED STATES POSTAL SERVICE United States 22,680 160 FORD MOTOR CO United States 22,637 161 SCHWEIZERISCHE BUNDESBAHNEN SBB Switzerland 22,559 162 BT GROUP PLC United Kingdom 22,507 163 LOWE'S COMPANIES, INC. United States 22,499 164 CONSOLIDATED EDISON INC. United States 22,464 165 HONDA MOTOR CO LTD Japan 22,377 166 MITSUI FUDOSAN CO LTD Japan 22,251 167 WEST JAPAN RAILWAY COMPANY Japan 22,223 168 BNP PARIBAS SA France 22,211 169 OIL & NATURAL GAS CORPORATION LIMITED India 22,180 170 DATANG INTERNATIONAL POWER GENERATION COMPANY LIMITED China 22,136 171 HUTCHISON WHAMPOA LIMITED China 22,100 172 STATE OF TENNESSEE United States 21,993 173 SONATRACH Algeria 21,989 174 JOHN SWIRE & SONS LIMITED United Kingdom 21,930 175 CARREFOUR SA France 21,671

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*As measured by reported net tangible fixed assets.

Rank Company Name Headquarters CountryInfrastructure Value* (millions USD)

176 OBB-INFRASTRUKTUR AKTIENGESELLSCHAFT Austria 21,660 177 COMMONWEALTH OF MASSACHUSETTS United States 21,626 178 CHINA THREE GORGES PROJECT CO. (CTGPC) China 21,592 179 MCDONALD'S CORPORATION United States 21,532 180 TELECOM ITALIA S.P.A. Italy 21,468 181 TECK RESOURCES LIMITED Canada 21,427 182 PROVINCE OF ONTARIO Canada 21,403 183 UNIVERSITY OF CALIFORNIA United States 21,277 184 BRESCIA-PADOVA SPA Italy 21,256 185 BG GROUP PLC United Kingdom 21,042 186 STATE OF MICHIGAN United States 20,983 187 PANASONIC CORPORATION Japan 20,976 188 TRANSPORT FOR LONDON United Kingdom 20,898 189 KDDI CORPORATION Japan 20,816 190 SK HOLDINGS CO., LTD. South Korea 20,734 191 S.N.C.B. HOLDING Belgium 20,719 192 COMMONWEALTH OF KENTUCKY United States 20,715 193 GUANGDONG POWER GRID CORPORATION China 20,622 194 HUANENG POWER INTERNATIONAL,INC. China 20,603 195 NESTLE S.A. Switzerland 20,588 196 THYSSENKRUPP AG Germany 20,450 197 SUMITOMO REALTY & DEVELOPMENT CO LTD Japan 20,337 198 GOUVERNEMENT DU QUÉBEC Canada 20,328 199 HUSKY ENERGY INC. Canada 20,308 200 INGKA HOLDING B.V. Netherlands 20,197 201 KUWAIT PETROLEUM CORPORATION Kuwait 20,181 202 WISCONSIN, STATE OF United States 20,178 203 NIPPON STEEL CORPORATION Japan 20,143 204 STATE OF ARIZONA United States 20,110 205 ALCOA INC United States 19,828 206 CEMEX, S.A.B. DE C.V. Mexico 19,823 207 JOINT STOCK FINANCIAL CORPORATION SISTEMA Russia 19,769 208 JAPAN NUCLEAR FUEL LIMITED Japan 19,671 209 CANADIAN NATIONAL RAILWAY COMPANY Canada 19,576 210 TELSTRA CORPORATION LIMITED Australia 19,388 211 JFE HOLDINGS INC Japan 19,305 212 PEUGEOT S.A. France 19,281 213 PROCTER & GAMBLE CO United States 19,244 214 PETRO-CANADA LTD Canada 19,178 215 COMPAGNIE DE SAINT GOBAIN SA France 19,160 216 SPARKASSEN-FINANZGRUPPE Germany 19,153 217 SIMON PROPERTY GROUP INC. United States 19,021 218 UNITED STATES DEPT. OF INTERIOR United States 18,989 219 STATE OF NEW JERSEY United States 18,952 220 STATE OF ALABAMA United States 18,889 221 PUBLIC POWER CORPORATION S.A. Greece 18,832 222 DEVON ENERGY CORP United States 18,767 223 ESKOM HOLDINGS South Africa 18,702 224 POSCO South Korea 18,691 225 CSX CORP United States 18,676

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*As measured by reported net tangible fixed assets.

Rank Company Name Headquarters CountryInfrastructure Value* (millions USD)

226 U.S. GENERAL SERVICES ADMINISTRATION (GSA) United States 18,669 227 FIAT S.P.A. Italy 18,649 228 WILLIAMS COMPANIES INC United States 18,644 229 BCE INC Canada 18,575 230 FORTUM OYJ Finland 18,519 231 BAOSHAN IRON & STEEL COMPANY LIMITED China 18,441 232 PORT AUTHORITY OF NEW YORK & NEW JERSEY, THE United States 18,398 233 KANSAI INTERNATIONAL AIRPORT COMPANY, LTD. Japan 18,293 234 SEMPRA ENERGY United States 18,281 235 SPRINT NEXTEL CORPORATION United States 18,280 236 MERCK & CO., INC. United States 18,274 237 HANKYU HANSHIN HOLDINGS INC. Japan 18,260 238 STATE OF ILLINOIS United States 18,222 239 UNION FENOSA S.A. Spain 18,212 240 COMMONWEALTH OF VIRGINIA United States 18,146 241 DOW CHEMICAL COMPANY (THE) United States 18,141 242 AUSTRALIAN DEFENCE FORCE Australia 18,136 243 TALISMAN ENERGY INC Canada 18,072 244 JSC HOLDING IDGC Russia 18,052 245 EUROPEAN AERONAUTIC DEFENCE AND SPACE COMPANY EADS N.V. Netherlands 18,019 246 ENBRIDGE INC Canada 18,011 247 GOLDCORP INC Canada 18,001 248 PROGRESS ENERGY INC. United States 17,995 249 ROBERT BOSCH GMBH Germany 17,971 250 A.P. MOLLER - MAERSK A/S Denmark 17,913 251 CEZ A.S. Czech Republic 17,901 252 EL PASO CORP United States 17,895 253 TNK-BP INTERNATIONAL LIMITED COMPANY Russia 17,800 254 U.S. DEPARTMENT OF THE NAVY United States 17,737 255 RENAULT France 17,711 256 ENTERPRISE GP HOLDINGS L.P. United States 17,689 257 METRO AG Germany 17,639 258 WALT DISNEY CO United States 17,597 259 U.S. DEPARTMENT OF HOMELAND SECURITY United States 17,546 260 BROOKFIELD PROPERTIES CORPORATION United States 17,525 261 XCEL ENERGY United States 17,433 262 ELECTRIC POWER DEVELOPMENT COMPANY LIMITED Japan 17,423 263 HELLENIC RAILWAYS ORGANIZATION S.A. Greece 17,390 264 AMERICA MOVIL S.A.B. DE C.V. Mexico 17,387 265 INTEL CORP United States 17,225 266 ENBW ENERGIE BADEN-WURTTEMBERG AG Germany 17,179 267 ROCHE HOLDING AG Switzerland 17,173 268 NIPPON LIFE INSURANCE COMPANY Japan 17,155 269 LOS ANGELES COUNTY United States 17,088 270 STATE OF SOUTH CAROLINA United States 16,947 271 NTPC LIMITED India 16,937 272 BRISBANE CITY COUNCIL Australia 16,931 273 CITY OF CHICAGO United States 16,797 274 TENAGA NASIONAL BERHAD Malaysia 16,754 275 HESS CORPORATION United States 16,627

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*As measured by reported net tangible fixed assets.

Rank Company Name Headquarters CountryInfrastructure Value* (millions USD)

276 SIEMENS AG Germany 16,580 277 ANHEUSER-BUSCH INBEV Belgium 16,461 278 BAYERISCHE MOTOREN WERKE AG - BMW Germany 16,401 279 LYONDELLBASELL Netherlands 16,391 280 OMV AKTIENGESELLSCHAFT Austria 16,380 281 AMEREN CORP. United States 16,377 282 FREEPORT MCMORAN COPPER & GOLD INC United States 16,195 283 KOREA LAND & HOUSING CORPORATION South Korea 16,193 284 ABU DHABI NATIONAL ENERGY COMPANY PJSC United Arab Emirates 16,155 285 EOG RESOURCES INC United States 16,139 286 MEXICO CITY TRANSIT Mexico 16,111 287 AEON CO LTD Japan 16,052 288 EDIZIONE S.R.L. Italy 16,050 289 STATE OF COLORADO United States 15,937 290 CITY OF TORONTO Canada 15,684 291 FIRSTENERGY CORPORATION United States 15,661 292 THE ISRAEL ELECTRIC CORPORATION LIMITED Israel 15,585 293 CREDIT AGRICOLE CIB France 15,490 294 JIANGSU ELECTRIC POWER COMPANY China 15,477 295 VORNADO REALTY TRUST United States 15,455 296 SHANGHAI CITY ELECTRIC POWER COMPANY China 15,357 297 SPECTRA ENERGY CORP. United States 15,347 298 PTT PCL Thailand 15,264 299 NORFOLK SOUTHERN CORP United States 15,192 300 GLAXOSMITHKLINE PLC United Kingdom 15,181 301 STATE OF LOUISIANA United States 15,072 302 MGM RESORTS INTERNATIONAL United States 15,070 303 ABERTIS INFRAESTRUCTURAS, S.A. Spain 15,039 304 BANVERKET HUVUDKONTORET Sweden 15,024 305 INDIAN OIL CORPORATION LIMITED India 15,010 306 AVERY DENNISON SOUTH AFRICA (PTY) LTD South Africa 14,930 307 TOKYU CORPORATION Japan 14,920 308 RAIL CORPORATION NEW SOUTH WALES (RAILCORP) Australia 14,854 309 NEXEN INC Canada 14,802 310 JOHNSON & JOHNSON United States 14,759 311 HEIDELBERGER ZEMENT AG Germany 14,723 312 UNITED STATES DEPARTMENT OF VETERANS AFFAIRS (VA) United States 14,699 313 EVRAZ GROUP S.A. Russia 14,669 314 MIAMI-DADE, COUNTY OF United States 14,620 315 EQUITY RESIDENTIAL United States 14,588 316 LAS VEGAS SANDS CORP. United States 14,561 317 CENOVUS ENERGY INC. Canada 14,537 318 KINTETSU CORPORATION Japan 14,519 319 UNITED STATES DEPARTMENT OF TRANSPORTATION United States 14,512 320 OAO SURGUTNEFTEGAS Russia 14,459 321 ATLANTIA S.P.A. Italy 14,453 322 KEMBLE WATER HOLDINGS LIMITED United Kingdom 14,350 323 VEDANTA RESOURCES PLC United Kingdom 14,327 324 HOKKAIDO ELECTRIC POWER CO INC Japan 14,321 325 L'AIR LIQUIDE S.A. France 14,292

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*As measured by reported net tangible fixed assets.

Rank Company Name Headquarters CountryInfrastructure Value* (millions USD)

326 INTERNATIONAL BUSINESS MACHINES CORP - IBM United States 14,164 327 LG ELECTRONICS INC. South Korea 14,157 328 KINDER MORGAN ENERGY PARTNERS L P United States 14,154 329 GOVERNMENT OF ALBERTA Canada 14,095 330 TAIWAN SUGAR CORP. Taiwan 14,092 331 NOVARTIS AG Switzerland 14,075 332 SAUDI TELECOM COMPANY (SAUDI JOINT STOCK COMPANY) Saudi Arabia 14,063 333 KROGER CO United States 13,929 334 TIME WARNER CABLE INC. United States 13,919 335 HRVATSKE CESTE D.O.O. Croatia 13,893 336 PUBLIC SERVICE ENTERPRISE GROUP INC. (PSEG) United States 13,884 337 WOODSIDE PETROLEUM LIMITED Australia 13,855 338 FEDERAL AVIATION ADMINISTRATION (FAA) United States 13,800 339 CANON INC Japan 13,793 340 CARSO GLOBAL TELECOM S.A.B. DE C.V. Mexico 13,745 341 UNICREDITO ITALIANO SPA ORD Italy 13,706 342 PGE POLSKA GRUPA ENERGETYCZNA S.A. Poland 13,664 343 NIPPON OIL CORPORATION Japan 13,623 344 BAYER AG Germany 13,555 345 UTAH, STATE OF United States 13,525 346 WELLS FARGO & CO. United States 13,520 347 MOL MAGYAR OLAJ-ES GAZIPARI NYRT. Hungary 13,514 348 BANK OF CHINA China 13,501 349 INTERNATIONAL PAPER CO United States 13,445 350 MITSUBISHI CORPORATION Japan 13,429 351 SEVEN & I HOLDINGS CO., LTD. Japan 13,396 352 ANAS - SOCIETA' PER AZIONI Italy 13,275 353 CITY OF HOUSTON United States 13,178 354 PPL CORPORATION United States 13,174 355 BARRICK GOLD CORPORATION Canada 13,125 356 TELEMAR NORTE LESTE SA Brazil 12,963 357 ALUMINUM CORPORATION OF CHINA LIMITED China 12,906 358 LOEWS CORP. United States 12,876 359 CIT GROUP INC. United States 12,875 360 UNITED STATES MARINE CORPS United States 12,810 361 EL CORTE INGLES S.A. Spain 12,742 362 STATE OF CONNECTICUT United States 12,730 363 PEPSICO INC United States 12,671 364 KT CORPORATION South Korea 12,661 365 DAI-ICHI MUTUAL LIFE INSURANCE COMPANY Japan 12,621 366 ROSENERGOATOM CONCERN OJSC Russia 12,616 367 MITSUBISHI CHEMICAL HOLDINGS CORPORATION Japan 12,516 368 SINGAPORE POWER LIMITED Singapore 12,514 369 OKLAHOMA, STATE OF United States 12,512 370 MTR CORPORATION LIMITED China 12,461 371 CLP HOLDINGS LIMITED China 12,456 372 SCOTTISH AND SOUTHERN ENERGY PLC United Kingdom 12,429 373 J SAINSBURY PLC United Kingdom 12,424 374 HYDRO ONE INC Canada 12,419 375 CHI MEI CORPORATION Taiwan 12,412

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*As measured by reported net tangible fixed assets.

Rank Company Name Headquarters CountryInfrastructure Value* (millions USD)

376 CATERPILLAR INC United States 12,386 377 NEWMONT MINING CORPORATION United States 12,370 378 LOS ANGELES UNIFIED SCHOOL DISTRICT United States 12,330 379 HUADIAN POWER INTERNATIONAL CORPORATION LIMITED China 12,320 380 UNITED UTILITIES GROUP PLC United Kingdom 12,306 381 QWEST COMMUNICATIONS INTERNATIONAL INC United States 12,299 382 SUMITOMO METAL INDUSTRIES LTD Japan 12,245 383 DTE ENERGY United States 12,231 384 AU OPTRONICS CORPORATION Taiwan 12,214 385 SVENSKA CELLULOSA AB SCA Sweden 12,197 386 CITY OF PHOENIX United States 12,113 387 LIDL STIFTUNG & CO. KG Germany 12,059 388 SUMITOMO CORPORATION Japan 12,058 389 LIBERTY GLOBAL, INC. United States 12,011 390 ARKANSAS, STATE OF United States 11,950 391 TOKYO GAS CO LTD Japan 11,891 392 CRH PUBLIC LIMITED COMPANY Ireland 11,865 393 PENN WEST ENERGY TRUST Canada 11,829 394 STATE OF OREGON United States 11,792 395 STATE OF MINNESOTA United States 11,761 396 FEDERAL HYDROGENERATION CO. - RUSHYDRO Russia 11,733 397 BRIDGESTONE CORPORATION Japan 11,695 398 HOKURIKU ELECTRIC POWER COMPANY Japan 11,690 399 TOSHIBA CORPORATION Japan 11,605 400 WM MORRISON SUPERMARKETS PLC United Kingdom 11,587 401 CALPINE CORP United States 11,583 402 NRG ENERGY, INC. United States 11,564 403 WASTE MANAGEMENT INC United States 11,541 404 HCA, INC. (HOSPITAL CORPORATION OF AMERICA) United States 11,529 405 STATE OF MISSISSIPPI United States 11,491 406 INTERNATIONAL POWER PLC United Kingdom 11,403 407 PROLOGIS United States 11,401 408 ODAKYU ELECTRIC RAILWAY CO., LTD. Japan 11,389 409 SDIC HUAJING POWER HOLDINGS CO., LTD. China 11,381 410 REGIE AUTONOME DES TRANSPORTS PARISIENS France 11,357 411 HIGHWAY & TRANSPORTATION AUTHORITY, PUERTO RICO United States 11,321 412 BANCO SANTANDER S.A. Spain 11,294 413 SANOFI-AVENTIS France 11,280 414 HEWLETT-PACKARD COMPANY United States 11,262 415 STATE OF KANSAS United States 11,248 416 CITY OF SAN FRANCISCO United States 11,233 417 BHARTI AIRTEL LIMITED India 11,199 418 MIGROS-GENOSSENSCHAFTS-BUND Switzerland 11,196 419 IDEMITSU KOSAN CO., LTD. Japan 11,170 420 GS HOLDINGS CORP. South Korea 11,163 421 MAGNITOGORSK IRON & STEEL WORKS - MMK Russia 11,104 422 E. I. DU PONT DE NEMOURS AND COMPANY United States 11,094 423 LOTTE SHOPPING CO., LTD. South Korea 11,073 424 SASOL LIMITED South Africa 11,043 425 SHARP CORPORATION Japan 11,020

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*As measured by reported net tangible fixed assets.

Rank Company Name Headquarters CountryInfrastructure Value* (millions USD)

426 MINING AND METALLURGICAL COMPANY NORILSK NICKEL Russia 11,017 427 SHIKOKU ELECTRIC POWER CO INC Japan 10,909 428 COSTCO WHOLESALE CORP United States 10,900 429 LINDE AG Germany 10,900 430 BROADSTREET GREAT WILSON EUROPE LIMITED United Kingdom 10,865 431 CPC CORPORATION, TAIWAN Taiwan 10,858 432 TAIYUAN RAILWAY ADMINISTRATION China 10,844 433 MEIJI YASUDA LIFE INSURANCE COMPANY Japan 10,843 434 KONINKLIJKE KPN NV Netherlands 10,838 435 STATKRAFT SF Norway 10,822 436 SONY CORPORATION Japan 10,809 437 WALGREEN CO United States 10,802 438 GOLDMAN SACHS GROUP INC. United States 10,793 439 KOREA RAILROAD South Korea 10,787 440 WEATHER INVESTMENTS S.P.A. Italy 10,748 441 TOKYO METRO CO., LTD. Japan 10,743 442 HOST HOTELS & RESORTS INC. United States 10,739 443 VEOLIA ENVIRONMENT France 10,723 444 PETRONAS CARIGALI SDN BHD Malaysia 10,712 445 NAFTOGAS OF UKRAINE Ukraine 10,701 446 KRAFT FOODS INC United States 10,693 447 STATE OF INDIANA United States 10,675 448 GD POWER DEVELOPMENT CO., LTD. China 10,662 449 OAO TATNEFT Russia 10,662 450 JACKSONVILLE, CITY OF United States 10,658 451 VOLVO AB Sweden 10,633 452 CITY OF BARCELONA Spain 10,615 453 STATE OF HAWAII United States 10,591 454 CHONGQING EXPRESSWAY GROUP CO., LTD. China 10,588 455 RABIGH REFINING AND PETROCHEMICAL CO. Saudi Arabia 10,574 456 VIVENDI France 10,465 457 RELIANCE COMMUNICATION LIMITED India 10,422 458 PARIS METRO France 10,422 459 ANTARCHILE S.A. Chile 10,420 460 ESB GROUP Ireland 10,394 461 NISOURCE INC United States 10,388 462 KOBE STEEL LIMITED Japan 10,381 463 ZHEJIANG PROVINCIAL ELECTRIC POWER COMPANY China 10,314 464 CENTERPOINT ENERGY United States 10,296 465 SAFEWAY INC United States 10,283 466 CONSTELLATION ENERGY GROUP, INC. United States 10,274 467 DONG ENERGY A/S Denmark 10,217 468 CITY OF HELSINKI Finland 10,201 469 SOFTBANK CORP Japan 10,195 470 TRASMISSIONE ELETTRICITA RETE NAZIONALE S.P.A - TERNA Italy 10,193 471 MITSUI & CO LTD Japan 10,175 472 REFER, REDE FERROVIÁRIA NACIONAL, E.P.E. Portugal 10,125 473 VASAKRONAN HOLDING AB Sweden 10,095 474 ASAHI GLASS COMPANY LIMITED Japan 10,083 475 SYDNEY WATER CORPORATION LIMITED Australia 9,993

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*As measured by reported net tangible fixed assets.

Rank Company Name Headquarters CountryInfrastructure Value* (millions USD)

476 TATA STEEL LIMITED India 9,907 477 JAPAN AIRLINES INTERNATIONAL CO., LTD. Japan 9,903 478 CENTRICA PLC United Kingdom 9,813 479 TELECOMMUNICATION INVESTMENT JOINT STOCK COMPANY - SVYAZINVEST Russia 9,805 480 CANADIAN PACIFIC RAILWAY LTD Canada 9,801 481 CHUNGHWA TELECOM CO., LTD. Taiwan 9,777 482 COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN (C.G.E.M.) SA France 9,770 483 FOREST CITY ENTERPRISES, INC. United States 9,747 484 GROUPE EUROTUNNEL SA France 9,743 485 CITY OF ATLANTA United States 9,709 486 DENSO CORPORATION Japan 9,680 487 TELENOR ASA Norway 9,619 488 MITSUBISHI HEAVY INDUSTRIES LTD Japan 9,612 489 METALURGICA GERDAU Brazil 9,595 490 UNILEVER GROUP Netherlands 9,571 491 OJI PAPER CO LTD Japan 9,563 492 COCA-COLA COMPANY (THE) United States 9,561 493 WATER CORPORATION OF WA Australia 9,537 494 CHINA STEEL CORPORATION China 9,523 495 MACY'S INC. United States 9,507 496 ANGANG STEEL COMPANY LIMITED China 9,500 497 OAO SEVERSTAL Russia 9,485 498 SEVERN TRENT PLC United Kingdom 9,485 499 NASA United States 9,477 500 CMS ENERGY United States 9,471

Disclaimer: These rankings are based on information available to us concerning the tangible fixed assets of each entity. They incorporate discretionary judgments and are necessarily inexact for a number of reasons, including that information publicly available may not be up to date, information is not equally available concerning every entity, values must be converted from different currencies, and in some cases estimated non-infrastructure values must be deducted from overall asset figures to approximate the value of tangible fixed assets. Bentley Systems, Incorporated expressly disclaims all representations and warranties as to the accuracy of the information or its suitability for any purpose. Please fill out this form if you wish to provide new or updated information about your organization for consideration in the 2011 edition of the Bentley Infrastructure 500.

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Top Owners’ Infrastructure Value by Country

United  States  

Japan  

China  

France  

United  Kingdom  Canada  

Germany  

Russia  

Italy  Spain  

Australia  

Brazil  South  Korea  

Netherlands  

Switzerland  

Mexico   India  

Sweden  

Taiwan  

Saudi  Arabia  

Other    

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Private  

Public  

Top Owners’ Infrastructure Value by Sector

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United  States  

Japan  

China  

Canada  

United  Kingdom  

France  Russia  

Germany  

Italy  

South  Korea  

Spain  

Australia  

Switzerland  

India  Netherlands  Taiwan  

Sweden  

Mexico  Brazil  

South  Africa  

Other  

Top Owners (Count) by Country

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© 2010 Bentley Systems, Incorporated. Bentley, and the Bentley “B” logo are either registered or unregistered trademarks or service marks of Bentley Systems, Incorporated or one of its direct or indirect wholly-owned subsidiaries. Other brands and product names are trademarks of their respective owners.

About the Bentley Infrastructure 500 The Bentley Infrastructure 500 ranks owners according to their reported tangible fixed assets (or other comparable noncurrent physical assets such as buildings or fixed structures, land, and machinery). Included in the rankings are public- and private-sector entities with financials reported in the past three years (to allow flexibility in varying reporting schedules). The values presented are assessed net of depreciation and amortization and calculated to exclude, where data is available, assets not representative of infrastructure, such as equipment, furniture, and software.

Additional footnotes:• Data sources for this ranking include financial statements and third-party data providers.

• All values have been translated into U.S. dollars (millions).

• Majority-owned subsidiaries with parents already in the rankings have been excluded (unless explicitly reporting separate financials).

The Bentley Infrastructure 500 will be updated annually. Please fill out this form if you wish to provide new or updated information about your organization for consideration in the 2011 edition of the Bentley Infrastructure 500.

Private  

Public  

Top Owners (Count) by Sector