First Reserve Corporation Augments Senior Executive Team

Greenwich, CT, Houston, TX, Hong Kong and London, February 15, 2012 — First Reserve Corporation, a leading global investment firm dedicated to the energy industry, is pleased to announce the broadening of its senior talent base. Claudi Santiago joins First Reserve as a Managing Director and Chief Operating Officer and will be based in the firm’s London office.

Claudi Santiago joins First Reserve after a career of more than 30 years at GE, where he was President and CEO of GE Oil & Gas and Senior Vice President of GE. While at GE, Claudi managed its $10-billion Oil & Gas division focused on upstream, midstream and downstream equipment and services. As Chief Operating Officer at First Reserve, Claudi will be responsible for managing the firm’s operations and will focus on talent development, implementation of best practices across the firm’s operational processes and developing First Reserve’s extensive energy industry network of advisors, directors and consultants. He will also take up board positions at First Reserve’s portfolio companies.

William Macaulay, Chief Executive Officer of First Reserve Corporation, said: “We have known and worked with Claudi for over a decade while he was at GE and now look forward to having such an experienced and senior executive join our firm. Claudi brings with him strong knowledge of the energy industry, deep operating experience and an extensive network of relationships. With his skills and experience, Claudi will be a valuable in-house resource to First Reserve.”

Claudi Santiago said: “Everybody in the energy business knows First Reserve and its reputation as a leading investor in the energy industry. While at GE, I worked with the firm and know that its reputation is well deserved. I am very excited about the opportunity to play a part in managing the operational aspects of the business and to be able to contribute to First Reserve’s successful position as a leading private investor in the energy value chain.”