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Impact Investing

A leader in Impact Investment

FT - EMPEA 28 October, 2015

Vital II – Introduction – ID15RF07_07

profit & purpose

VITAL CAPITAL FUND 222

Investments ProfilesPrivate Medical Center Agri-Industrial Centre Sector Health Care Agriculture

Geography West-Africa West-AfricaInvestment size 15M 15MOwnership 100% + DFI Debt 50% PartnershipValue Strategy Operational revenues only Operational revenues onlyIRR 20% 20%

VITAL CAPITAL FUND 333

Investments ProfilesPrivate Medical Center Agri-Industrial Centre Sector Health Care Agriculture

Geography West-Africa West-AfricaInvestment size 15M 15MOwnership 100% + DFI Debt 50% PartnershipValue Strategy Operational revenues only Operational revenues onlyIRR 20% 20%

VITAL CAPITAL FUND 444

Private Medical CenterThe need: Health system suffers from a lack of human and institutional capacity and a scarcity of diagnostic medical devices. The Investment: A multi-specialty private healthcare poly-clinic located in the capital’s center.The goal: To improve the standard of healthcare available in the country and to increase local staff competency and education.The center: 2 operating theaters, 5 diagnostic floors (MRI, CT and more) and 5 floors of doctors’ clinics. Provides international-quality diagnostic and same-day ambulatory procedures at affordable prices, as a substitute to medical services currently obtained abroad.Risks:

• Equipment Maintenance• Can costumers pay?• Insurance programs available?

VITAL CAPITAL FUND 555

Agri-Industrial CenterThe need: 40% of the population are undernourished. The local eggs market is dominated by low quality imports. The Investment: A center providing 700 farmers with animal feed, live stock, services, financing, collection, packaging and marketing of 300K eggs per day.The goal: Increased food security through the establishment of a local agriculture brand, and to improve the profitability of each farmer and their families by providing 100% off-take commitment.The Center: Heavy equipment, Hatchery, Silos, packaging, transportation and marketing.Risks:• Local market / Import• Currency fluctuations• Rural community, low literacy rates

VITAL CAPITAL FUND 666

Vital IMPACT DIAMOND assessment modelEssentiality - The extent to which an investment addresses an essential, previously unmet need and the role of the investment as the generator of impact

Beneficiaries - Each investment is assessed to determine the socio-economic segmentation of beneficiaries and the scale of influence

Locality - Measures the extent to which an investment engages with and generates benefits for the local commu nity. Creation of local employment, produce commodities for local consumption rather than for export, and training.

Intrinsic Impact - Evaluates the correlation between the financial and Impact drivers

VITAL CAPITAL FUND 777

How Impactful are our Investments?Dimension PMC Rationalization AIC Rationalization5

5555

Is the service/product a ba-sic need?

Who are the direct benefi-ciaries?How many Beneficiaries?Who are the workers? How Many local jobs created?How extensive is local ca-pacity building?

E - Production of basic food commodi-ties. E - Provision of advanced health services. 5

2.52.525

B – targeting Middle to High-mid-dle classB – Targeting the entire population; di-rect to supermarkets and clientsB – 50,000 at full capacity B – 1.6 million estimated con-sumers ~30% of the national consumptionL – Heavily relies on X-pats L - Over 97% of the employees are localL – Local care-givers employ-ees are trainedL – Extensive training program for employees

Additionality? 2.5 5E – The likelihood of securing financing through alternative cat-egorysources is lowE – The likelihood of securing financ-ing through alternative category sources is low AND Vital is likely to deliver significant added value to the business

Are adequate alternatives available? (cost/quality) E - Mostly abroad, and thus not affordable. E - Market is currently dominated by low-quality importation and cannot sat-isfy demand55

VITAL CAPITAL FUND 888

How Impactful are our Investments?Dimension PMC Rationalization AIC Rationalization

5

5 5

Does the company sources from local suppliers?

Are the impact drivers aligned with the financial drivers?

L - 100% of production is conducted by OG farmers who supply their production to the organizationL- Not extensively2IM – Yes, the greater the busi-ness will grow the greater the im-pact is

IM – Yes, the greater the business will grow the greater the impact is

Does the company initiatescommunity engagement and empowerment programs?1 5L– Not immediately, planning re-mote diagnostics network

L – Yes

1 5Does the training program extend beyond the in-vestee’s employees to other mem-ber ofthe community? L – Very limited L – Training to small-holder farm-ers

VITAL CAPITAL FUND 999

Impact Profile - The Vital IMPACT DIAMOND

Impact is Multidimensional and should be Profiled Comprehensively

Private Medical Center Agri-Industrial Center

VITAL CAPITAL FUND 101010

Agri-Industrial Center from above

VITAL CAPITAL FUND 111111

Agri-Industrial Center - Feed Mill

VITAL CAPITAL FUND 121212

Agri-Industrial Center - Eggs Production

VITAL CAPITAL FUND 131313

Agri-Industril Center - Free Range Eggs in Village 7

VITAL CAPITAL FUND 141414

Impact developments – Agri-Industrial Center

Breakdown of company assessment rating

Overall company assessment score

Agri-Industrial Cen-ter

Agri-Industrial Cen-ter

A-I Center

VITAL CAPITAL FUND 151515

Private Medical Center

VITAL CAPITAL FUND 161616

Private Medical Center

VITAL CAPITAL FUND 171717

GIIRS Ratings

Agri-Industrial Center

VITAL CAPITAL FUND 181818

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