Arab Moltaqa Investments Company - AMIC

Investor Presentation

Disclaimer This document has been prepared by Arab Moltaqa Investments Company (AMIC) solely for the use at the analyst/investor presentation, held in connection with AMIC. The information contained in this document has not been independently verified and no representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. The information set out herein is subject to updating, completion, revision, verification and amendment and such information may change materially. AMIC is under no obligation to update or keep current the information contained in this material or in the presentation to which it relates and any opinions expressed in them is subject to change without notice. This presentation includes forward-looking statements. These forward-looking statements include all matters that are not historical facts, statements regarding AMIC’s intentions, beliefs or current expectations concerning, among other things, AMIC’s results of operations, financial condition, liquidity, prospects, growth, strategies, and the industry in which AMIC operates. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. AMIC cautions you that forward looking statements are not guarantees of future performance and that its actual results of operations, financial condition and liquidity and the development of the industry in which AMIC operates may differ materially from those made in or suggested by the forward-looking statements contained in this presentation. In addition, even if AMIC’s results of operations, financial condition and liquidity and the development of the industry in which AMIC operates are consistent with the forward-looking statements contained in this presentation, those results or developments may not be indicative of results or developments in future periods. AMIC does not undertake any obligation to review or confirm analysts expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise after the date of this pre

Outline • Macro Environment

• About AMIC Overview

Objective

Vision

Mission

AMIC’s Approach

Investment Strategy

Strategy Forward

AMIC’s Track Record

Shareholders’ and Board Structure

Corporate Governance

Management Team

Investor's Rights

AMIC’s Corporate Social Responsibility

• Highlights

• Investment Portfolio

Macro Environment

Political stability The begun of the political stability in Egypt during 2014 following the adoption of the constitution and presidential elections contributed to the improved economic view, a state improvement achieved through several axes, played a prominent role . Abdel Fattah el Sisi, as president in May 2014 marked the near completion of Egypt's latest political transition, with only the parliamentary election still to come. Although the new Sisi administration enjoys a significant measure of popular support, the transitional authorities have in effect abandoned the goal of a consensual transition, in favor of an imposed, "managed" democracy—as was evident in the exclusion of the Muslim Brotherhood from national politics.

International relations The government's priorities will be focused on maintaining cordial ties with the US and the EU, building relationships with Russia and China and seeking to secure the maximum economic benefit from supportive Gulf Arab states. So far this strategy has worked well, with Kuwait, Saudi Arabia and the UAE providing more than US$20bn in aid—mostly in the form of fuel donations, with a further US$12.5bn promised at a major investment conference in Sharm el Sheikh in March. However, the aid has arguably come with conditions, as demonstrated by Egypt's participation in the Saudi-led air strikes in Yemen.

The ongoing political and economic uncertainty will provide a challenging backdrop for the Central Bank of Egypt (CBE). Nevertheless, the general decline in inflation since the final quarter of last year afforded the CBE an opportunity to announce a 50-basis-point cut in interest rates on January 15th to support growth. Although some capital controls are likely to remain in place, the CBE partly eased restrictions on the transfer of foreign currency out of the country in January. Combined with moves to stimulate the mortgage market, this appears to have triggered a mild uptick in consumer demand and business confidence. Continued improvement in the economic and political situation, as well as lower inflation, should allow further loosening of monetary policy later in the forecast period.

Monetary Policy

Economic Growth Egypt's real GDP growth forecast for 2014/15, after updated data for the first half of the fiscal year showed growth of 5.6% year on year, led by a strong performance in manufacturing, tourism and construction.

The impact of the Gulf-funded stimulus packages and the election of Mr Sisi as president have provided a fillip for business confidence, and the pace of growth will accelerate gradually from 2015/16 as improved stability leads to a recovery in domestic demand. Concurrently, strengthening global demand should con tribute to stronger export growth in certain key sectors—such as textiles and the food industry—that do not rely heavily on imports of intermediate goods.

Macroeconomics Snapshot

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Exchange rate E£:US$ (av)

About AMIC

Overview AMIC is a major private equity business focused on investing in market-leading businesses, working with management teams to create and realize value within its portfolio companies. As the first Sharia-compliant firm operating in Egypt, Arab Moltaqa Investments Company (AMIC), a private equity firm, dominates the investing landscape in the local market. Founded in 1990, AMIC is an Egyptian joint stock company. In 1995, Arab Moltaqa Investments Company was listed on the Egyptian stock market (EGX). The Sharia-compliant firm spreads its investments over various economic sectors with multiple business activities. The private equity company manages assets portfolio totaling EGP 2 billion. Arab Moltaqa Investments Company focuses on value-added investment activities. To attain this goal, AMIC launches and undertakes strategic initiatives, as well as enters into effective partnerships. AMIC's success lies in its ability to assemble the best investors with the relevant sector and transaction experience, and in its ability to explore opportunities to position portfolio companies for long-term growth.

Objective AMIC's board aims to establish one of the leading private equity firms in the Egyptian market through restructuring current investments on hand and adding new investments while operating and managing such transactions in a professional, systematic and growth-oriented manner to maximize the profitability of these investments.

Vision

AMIC's top management mapped out a long-term strategy for growth that would make AMIC the leading private equity firm in the Middle East & North African region Launching from our corner stone in Egypt we thrive to be the investor most sought-after from partners and shareholders where they watch their investment grow and prosper.

Mission

As a private equity firm, we invest through diversified range of economic sectors covering the full investing cycle from start-ups to matured companies. AMIC's investors allocate capital flexibly by selecting investments with significant growth potential in compliance with Shariaa principals. By our involvement and sharing of our interests and expertise with the management, we are committed to co-create value in our investee businesses.

AMIC's Approach AMIC has developed its own approach to provide hands-on support to make our portfolio companies become more productive, efficient and valuable. AMIC's investment team members are highly qualified and experienced business leaders and consultants who partner with portfolio company managements to drive stronger performance. The investment team pays greater attention to performance improvement even before a company is added to the portfolio, working with deal teams to explore opportunities during due diligence. Once a company joins the portfolio, we help management craft a full-potential plan, as well as longer-term strategies, and assist them in putting ideas into practice. We stress quantifiable goals and performance measurement to make sure the desired improvements are being achieved. Our efforts to drive stronger performance focus on six key areas: revenue realization, operations, services and infrastructure, purchasing and cross-selling, leadership development and healthcare. Our experience has been that focusing on these areas that can drive meaningful increase in the growth, efficiency and profitability of our portfolio companies. We are patient investors, committed to achieving the best long-term outcomes for our businesses and our investors. Recognizing this, the majority of our limited partners have entrusted us with ever-increasing levels of assets.

Investment Strategy AMIC has coined the motto: "Invest in Companies with Sustainable Competitive Advantages and Growth Prospects". AMIC seeks to invest in companies that have sustainable competitive advantages with significant potential growth. We will invest in companies that already have strong incumbent management teams or partner with managers to acquire companies in their industry. Occasionally, to address compelling market opportunities, we will provide growth capital to businesses at earlier stages of maturity. We structure capital to each individual investment so as to meet the specific needs of a given opportunity and the company's specific business plan. As owners and board members, we become active participants in guiding the growth of our portfolio companies. Our industry experience and broad affiliate network allows us to draw on a diverse set of strategic, financial and industry-specific resources. Our close work with proven partners and management teams drive performance improvement and unlock shareholder's value. AMIC is committed to actively oversee each Investment by helping its management develop and undertake strategic initiatives; launch and integrate subsequent acquisitions; arrange for debt and/or equity financings; recruit additional management resources; and generate liquidity opportunities in public and/or private markets. We shall participate with others or will act as sole investors to achieve our goals and create value to our shareholders. Often, we serve as lead entrepreneurs in our investments. The most important criterion in evaluating attractive investment opportunities is the quality of the management team. We look for a proven track record, resourcefulness in problem solving, the ability to attract and retain quality personnel, and a overwhelming desire for success.

Strategy Forward Actual realization of value for AMIC’s shareholders, through: - Achieving exponential growth in AMIC’s investment platforms. - Improving current investments operational performance to generate higher cash flows and profitability. - Cleaning-up, restructuring and the disposal of non-performing and stagnant investments to maximize AMIC's recovery value and cash proceeds. - Diversifying investment portfolio in strategic industries such as food and beverage, healthcare, pharmaceutical, manufacturing …etc. - Invest in new companies with sustainable competitive advantage and enormous growth prospects. - Creating and structuring new holding vehicle(s) for growth plan. - Activating management to be fully acquainted and updated with all related parties. - Close monitoring, and follow-up on investment portfolio.

1990 1991 In 2015, AMIC celebrates its Silver Jubilee, marking its founding in 1990. The company has achieved a significant growth and has created an eminent goodwill in the community. AMIC keeps attempting to deliver the best performance, with genuine efforts applauded by its customers and investors. AMIC has succeeded in creating value for its shareholders by surging forward in diversifying its portfolio; real estate, health care and pharmaceutical, food, industrial and financial investment. Since 1990, AMIC has made totally 42 private equity investments with a focus on driving transformation to build better businesses. Over its history, AMIC has undergone 42 business transactions in total including: a- 26 investment transactions b- 13 fully exit transactions c- 3 partially exit transactions

Investing in : El Watnya EL Baraka steel Mina pharm pharmaceuticals Gold star (LG)

Investing in : Crazy Water Company Sohag National company Al Yosr Water Desalination Arab Engineering Industries

1992 1993

Investing in : Alex Converta (Handy)

Investing in : Dallah Fund 2 (UAK) Egyptian International

Pharmaceutical Industries

1995 1996

Investing in : Dar Al Fouad Hospital Arab Moltaqa for financial

portfolios management Al Ameen for financials , Mutual

Funds(UAK) Arab Engineering Industries Exiting from: El Watnya EL Baraka steel International Pharmaceutical

Industries

Investing in : International Electronics Company –

inter tech El-Rabie Poultry United Group Securities Brokerage Exiting from: Al Ameen for financials Mutual

Funds(UAK)

AMIC’s Track Record

1997 1998 2000 2001

Investing in : FMCG Trading & Distribution

Exiting from : Arab Moltaqa for financial

portfolios management United Group Securities

Brokerage

Investing in : Egyptian Electrical Cables

Investing in : Minapharm ProBioGen

2002 2004 2005 2007

Investing in : Misr Arab for Broiler

Production Exiting from: Gold star (LG)

Exiting from: Egyptian Electrical Cables Partially Exiting from: Dallah Fund 2 (UAK)

Investing in : AT- Lease Arab Company for Medical

Appliances Exiting from: Dallah Fund 2 (UAK

Exiting from : Crazy Water Company Sohag National company

2008 2010

Investing in : AT- For Real Estate Finance United Company for

Investments & Real Estate Development

Exiting from: International Electronics

Company – inter tech

Exiting from: AT- For Real Estate Finance Partially Exit from: Mina pharm pharmaceuticals Arab Engineering Industries

2012 2014

Investing in : AT- Lease (80%)

Exiting from: Dar Al Fouad Hospital

AMIC’s Track Record Cont’d

Shareholders & Board Structure

Dallah Al baraka Holding 49.4% Bayt el Tawfik for

Development 37.9%

Free Float 12.8%

Authorized Capital EGP 600 Million

Issued and Paid-up Capital EGP 197 Million

Number of Issued Shares 19.7 Million Shares

Face Value per share EGP 10 per Share

Eng. Abdulaziz Yamani Chairman

Ms. Hadeel Saleh Kamel Vice Chairman

Mr. Khaled Abou Heif Managing Director

Eng. Jamal Afifi Board Member

Mr. Tarek Hosni Board Member

Mrs. Neveen El-Tahri Independent member

Mr. Khaled Serry Seyam Independent member

Board Structure

Shareholders Structure

Corporate Governance

Since Arab Moltaqa Investments Company (AMIC) aims at ensuring the integrity and sustainability of its business activities, the firm is committed to adopt the best established practices in the area of corporate governance. Given the importance of complying with corporate governance standards, AMIC's board keeps examining and modifying its corporate governance practices regularly to accommodate developments within the marketplace in general and AMIC's business in particular, and to meet globally- recognized good governance standards. Guided by the corporate governance principles laid down by the Egyptian Financial Supervisory Authority (EFSA), AMIC applies the highest standards of corporate governance in order to be in compliance with the financial regulators' criteria.

The Board of Directors BOD’s roles and responsibilities:

• Providing strategic direction to the company by working closely with management to develop and accomplish AMIC's vision, mission, goals, strategies, and performance targets;

• Establishing the required supervisory procedures to secure the rights of all stakeholders; • Approving the annual budget of the company and other significant business decisions; • Selecting, appointing and supervising executive members; • Submitting recommendations to the General Assembly upon issues related to capital structure, expenditures and dividends policy….. etc.; • Monitoring the integrity of internal control and reporting systems; • Safeguarding the interest of the company, taking into account the interests of all stakeholders in an independent manner; • Reviewing and evaluating present and future opportunities, threats and risks in the external environment and current and future strengths,

weaknesses and risks relating to the company; • Determining strategic options, selecting those to be pursued, and deciding the means to implement and support them; • Determining the business strategies and plans that underpin the corporate strategy; • Ensuring that the company's organizational structure and capability are appropriate for implementing the chosen strategies

Board Structure and Composition The size of the board is limited to what is stipulated in the company's statutes, and the number of board members is periodically considered in order to ensure its appropriateness for the responsibilities, according to the recommendations carried out by the board's compensation committee. AMIC’s BOD consists of seven members, including two independent members with experience . Our independent board members are always highly expert in the capital market and the economic such as, Mr. Ziad Bahaa EL dien the previous deputy of the prime minster

The Committees of the Board of Directors

1- The Audit Committee

Corporate Governance Cont’d

Purpose: The Audit Committee is structured to ensure independence and integrity. The Audit Committee assists the board of directors in the oversight of the firm's financial reporting. In this context, the audit committee emphasizes, in particular, on: • ensuring the efficiency of the internal control system; • ensuring the intactness of the financial statements; • ensuring the efficiency and independence of the company's external auditor; • ensuring that the company's internal auditing department performs its role efficiently and monitors the efficacy of the internal audit

procedures; • Submitting periodic reports and recommendations on the foregoing issues to the board of directors.

2- Compensation Committee The Compensation Committee is composed, as a minimum, of three non-executive members. One of the members must have an experience in the human resources affairs to ensure professionalism in carrying out the committee duties. Purpose : The main Purpose of the board's Compensation Committee is to assist the board of directors in carrying out its responsibilities, respecting the following:

• Reviewing and approving corporate goals and objectives relevant to the compensation of the executive directors and senior management;

• Evaluating each individual's performance in light of these goals and making recommendations to the board of directors with respect to incentives and equity-based compensation plans;

• Managing the company's Executive Compensation Program; • Managing the company's incentive plans and programs and approving compensations; • Determining the compensations of the board members and the committees' members, according to the assessment and

performance of each member separately; 3- Investment Committee

The roles and responsibilities of the investment committee are within the scope that related to investment development and maximize returns achieved through follow-up and evaluate the performance of investments owned by the company, and also list and study new investment opportunities that the Committee recommends to contribute where and including various investment operations of mergers and acquisitions and exits. the committee is committed to work according to the INVESTING policy of the company that approved by the board of Directors. The investment committee is composed, as a minimum of three members who have experience in the company’s business and two of them are non executive members .

The Audit Committee is composed, as a minimum, of three non-executive directors who have experience in the company's business, with no membership in any other board committees. One of the members must have an experience in financial affairs to ensure carrying out its duties professionally.

Management Team

Mr. Khaled Abou Heif – Managing Director

• Mr. Khaled Abou Heif was appointed as the Managing Director of AMIC in 2011.

• Mr. Abou Heif is at present the Chairman of AT Brokerage (non-executive), Vice Chairman (non-executive) of AT Asset Management and AT Financial Holding and a Board Member in Egyptian Capital Market Association (ECMA) since 2008.

• Managing Director of Commercial International Brokerage Company (CIBC). led CIBC to rank first among brokerage companies.

• Mr. Abou Heif was formerly a board member in C.I. Capital Holding

• Formerly, Mr. Abou Heif served as a board member of Misr for Central Clearing, Depository and Registry (M.C.D.R.), a position he held till 2012.

• Mr. Abou Heif completed the Corporate Governance program by Wharton University

Mr. Ahmed Ibrahim - Chief Operating Officer

• Mr. Ahmed Ibrahim is AMIC's Chief Operating Officer since 2012 and is responsible for the full back office operations, including Finance, Administration, IR, IT and HR. He has been a main leader in several Change Management Projects over the years.

• Ahmed has more than 20 years of work experience in Financial Institutions, Consultancy Firms as well as International Accounting and Auditing Firms.

• Chief Financial and Administrative Officer in Obelisk Asset Management Company for managing investment funds

• Planning and Budget Director at C.I. Capital Holding, a company of the Commercial International Bank group

• Mr. Ahmed holds and MBA in Business Administration from ESLSCA Business School.

Mr. Ali Mostafa – Deputy Chief Investment Officer

• Mr. Ali Mostafa is the Deputy Chief Investment Officer of AMIC and responsible for directing AMIC's investment policy and managing AMIC's investment portfolio.

• Mr. Ali has an experience in corporate finance and feasibility studies and valuations for more than 30 years

• Mr. Ali holds a graduate study and evaluation form University of Bradford

• Mr. . Ali joined to Dallah Group since 1984.

Being a member of Dallah Al-Baraka Group founded in accordance with Islamic Sharia principles, we believe that we have a moral responsibility to society, through sponsoring charity projects to enhance the quality of life of unprivileged individuals in our community in which we share others. AMIC is committed to contributing to the sustainable development of the community in which our business is run. We recognize that achieving corporate social responsibility while meeting our business objectives requires equilibrium among all of our stakeholders, including shareholders, staff, business partners, community and environment. Therefore, we are committed to CSR initiatives, including charity, and health care, to enhance our positive impact on people and community. Charity "Together we can make a better community for a better life", a slogan AMIC believes in. AMIC acknowledges the immense importance of being an asset to the community. Healthcare To shape a better future in a modern society, the wellbeing of our community should always be a priority. Believing in this principle, AMIC has undertaken an effective initiative for healthcare projects. AMIC's awareness to the numerous epidemic diseases and other serious illnesses in Egypt. AMIC shall focus on healthcare and aid as highly important responsibility; through aiding and developing healthcare initiative.

AMIC's Corporate Social Responsibility

Investor’s Rights

AMIC has adopted recently the statement of the Investor’s Rights as a global Initiative of (Putting Investors First ) .that seeks to build awareness and unite investment professional in a commitment to place investor interest above all others . These investor’s rights reflect the fundamental ethical principles that are critical to achieving confidence and trust in any professional relationship . We are completely aware of our investors rights such as : Honest, competent, and ethical conduct that complies with applicable law Fair treatment with respect to the other investors Disclosure of any existing or potential conflicts of interest in providing any services Clear, accurate, complete and timely communications Confidentiality of the information. We have an Investor relations department that working according to identified roles and responsibilities , completely aware of our investors rights .

Financial Highlights (Standalone)

There were two major highlights in 2014. Firstly, AMIC exited successfully from DAR AL FOUAD Hospital by selling its stake at EGP 40.2 million. The deal would positively impact the company's net profit, and it is part of the company's investment strategy aiming at boosting the turnover of the firm's businesses. Secondly, AMIC has achieved a considerable increase in its financial results on the standalone level and the consolidated level

AMIC Financial Highlights (Standalone)

51.9 MN

Net Profits

61.5 MN

Total Revenues

58.5 MN

EBITDA

57.9 MN EBIT

61 MN EBT

2.21 EGP EPS

84% NPM

95% EBITDA Margin

9% ROE

AMIC reporting Net income of EGP 51.9 million

a 71.3% y-o-y rise compared to of EGP 30.3 million

Total Revenues increased in 2014 by 107% to be

EGP 61.5 million in compared to EGP 29.7 million in 2013

EBITDA increased by 108% to be EGP 58.5 million in 2014 compared to EGP 28.1 million in 2013 that reflects an improvement in operational

EBIT increased by 110% to be EGP 57.9 million in 2014 compared to EGP 30.3 million in 2013 .

EBT increased by 101% to be EGP 61 million in 2014 compared to EGP 30.9 million in 2013 .

EPS increased by 71% to be EGP 2.21 in 2014 compared to EGP 1.29 in 2013 .

59.3

26.8

20.7

29.7

61.5

2010 2011 2012 2013 2014

Revenues (Millions)

49.05

20.93 16.42

30.27

51.89

2010 2011 2012 2013 2014

Net Profits (Millions)

AMIC Historical Performance (Standalone)

48.1

18.5 14.3

28.1

58.5

2010 2011 2012 2013 2014

EBITDA (Millions)

48

18.4 14.2

27.6

57.9

2010 2011 2012 2013 2014

EBIT (Millions)

49

21 16.5

30.4

61

2010 2011 2012 2013 2014

EBT (Millions)

3.75

1.49

1.14 1.29

2.21

2010 2011 2012 2013 2014

EPS

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Asset Under Management Consolidated

AMIC Financial Highlights (Consolidated)

39.6 MN

Net Profits

507 MN

Total Revenues

64.5 MN

EBITDA

62 MN EBIT

66.6 MN EBT

8% NPM

13% EBITDA Margin

6% ROE

AMIC's net profits after minority rights grew by 72% to EGP 39.6 million in 2014, in comparison with EGP 23 million in 2013.

AMIC's operating revenue increased by 16% to EGP

507 million in 2014, from EGP 438 million in 2013.

The company sustained a growth in EBITDA by 78% to EGP 64.5 million in 2014, against EGP 36.3 million in the previous year, an indictor for improvement in the AMIC's operating performance.

EBIT increased by 81% to be EGP 62 million in 2014

compared to EGP 34 million in 2013 .

EBT increased by 63% to be EGP 66.6 million in 2014 compared to EGP 41 million in 2013 .

73.5 45

103

438

507

2010 2011 2012 2013 2014

Revenues (Millions)

59

13.9 14

23

39.6

2010 2011 2012 2013 2014

Net Profits (Millions)

AMIC Historical Performance (Consolidated)

62

19.4 21.5

41

66.6

2010 2011 2012 2013 2014

EBT (Millions)

Investment Portfolio

AMIC manages an asset portfolio totaling EGP 2.3 billion, spanned over a wide range of sectors, including: poultry, pharmaceutical and health care, manufacturing, agribusiness, financial, real estate, and commercial.

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2008

2005

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2005

1997

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Company Investment Date Industry AMIC Ownership

71%

12%

4% 3%

1% 9%

Portfolio Sectors

Financial Services

Pharmaceutical&HealthCare

Industrial&RetailSector

Poultry Sector

Water TreatmentSector

Real Estate Sector

Real Estate

Financial Services

Industrial& Retail

Poultry

Water Treatment

Poultry

Pharmaceutical& Health Care

Pharmaceutical& Health Care

Pharmaceutical& Health Care

Industrial& Retail

Industrial& Retail

94%

50.67%

89.99%

39.72%

38.20%

32.13%

28.34%

13%

12.81%

7.6%

12.6%

Recent Exits

• Minapharm pharmaceutical

• Pharmaceutical sector

• Minority stake (12.89%)

• Full Exit

• Sale to Existing major shareholders

• Proceeds : EGP 59.3 Million

• Capital Gain : EGP 43.3 Million

• Dar Al Fouad Hospital

• Healthcare sector

• Minority stake (5.49%)

• Full Exit

• Sale to Existing major shareholders

• Proceeds : EGP 25.4 Million

• Capital Gain : EGP 17.8 Million

• Minapharm Probiogen

• Pharmaceutical sector

• Minority stake (12.62%)

• Full Exit

• Sale to Existing major shareholders

• Proceeds : EGP 32.1 Million

• Capital Gain : EGP 19.8 Million

Financial Service Sector

About AT Lease A.T Lease was established 2005, and started operations in 2006 with a current paid in capital of EGP 200 million. The company provides financial leasing services for several assets such as properties, machinery and equipment, vehicles, and aircrafts, to a wide range of diversified clients in different sectors. A.T Lease is one of the top 5 leasing firms as per rankings published by EFSA.

Strategy Al Tawfik leasing Company (AT lease) seeks to finance a wide base of clients using the provisions of Islamic Sharia. Services provided are diversified, tailored to clients’ needs.

Portfolio A.T Lease existing portfolio is EGP 2.6 billion as of 31/12/2014. Existing portfolio is spanning over a diversified sectors with a large client base.

Location The company’s head office is located in Cairo in addition to another branch in Alexandria. The company is planning to add different branches to cover a greater geographical area, and they are planned to cover the following regions :

El Delta Upper Egypt

AT securitization company • Securitization objective is to provide the company with alternative long term financing sources other than equity or bank

loans. • A.T Lease owns and control AT securitization company (Special Purpose Vehicle for securitization purposes, established in

2010) . • A.T Lease managed its first securitization transaction in the second half of 2010, Securitization transaction was successful with

a regular and timely payments. Securitized portfolio amounted to approximately EGP 576.0 million

Al Tawfik leasing Company (AT lease)

Sources of Funds A.T Lease is enjoying a great deal of relationships with top performing banks in Egypt (more than 17 banks- Recourse & without recourse). AT lease is pursuing further securitization transactions which enable At lease to grow its leased portfolio to a greater levels by securing additional sources of funds. A.T is also pursuing capital increase which allow for enhancing financing capacity as an internal source of funding in addition to bank finance and securitization.

EGX listing AT lease has recently completed listing procedures to be the one of only two leasing companies listed in Egypt stock exchange.

Corporate Governance •Effective corporate governance system is crucial to every organization where AT lease is always aiming to apply the best practices of the corporate governance. •AT lease Board is currently including two independent members. In addition, Board is supervising three committees; executive committee, audit committee and compensation committee. Moreover, there are another six internal committees (provisions, HR, Policies, Credit , Assets & liabilities and Budget committee). Human Resources AT lease is always considering investing in its people, aiming to retain highly qualified employees and soliciting the best calibers through offering different incentive plans, for example, ESOP plan. Profitability A.T Lease is enjoying a consistent and stable profitability margins with a great potential for increased margins based on growth in the existing portfolio.

Al Tawfik leasing Company (AT lease)

Al baraka Bank 10%

Bayt el Tawfik for Development 0.00%

Authorized Capital EGP 400 Million

Issued and Paid-up Capital EGP 200 Million

Number of Issued Shares 80 Million Shares

Face Value per share EGP 2.5 per Share

Eng. Abdulaziz Yamani Chairman

Mr. Tarek Fahmy Managing Director

Mr. Omar El Herazi Board Member

Ms. Hadeel Saleh Kamel Board Member

Mr. Tarek Hosni Board Member

Mr. Khaled Abou Heif Board Member

Mr. Ashraf Ghamrawy Board Member

Mr. Ahmed Abou Bakr Independent member

Mr. Adly Hussein Independent member

Board Structure

Shareholders Structure

AMIC 90%

Al Tawfik leasing Company (AT lease)

•This kind of lease is a full payout lease which is used to finance the purchase of different kinds of assets

Plain vanilla financial lease

• Is an Arrangement in which one party sells a property to a buyer and the buyer immediately leases the property back to the seller Sale and lease back

• Customer has the option to purchase back the equipment at the end of the lease term on sale. Residual payments

• Ascending or descending periodical lease payments can be arranged in order to meet lessee cash flow

Step-up and step-down lease

• Structured Leasing Transactions include acquisition finance and leveraged buyouts Structured Lease

•It is a specialized finance program for vendors whereby A.T. LEASE (lessor) finances the vendors' clients Vendor Lease

SME’s Lease .introducing many types of leasing to the SME’s

Services Provided

Al Tawfik leasing Company (AT lease)

Current Portfolio

Real estate is still the major component of the leased assets portfolio BY 66 % of the total portfolio ,followed by machinery and equipment with 18 % from the portfolio size

17.6%

9.2%

6.4%

66.4%

0.4%

Machinery & Equipment

Commercial Vehicles

Passenger Cars

Real-estate

Others

Available Balance

• The current available limit balance for:

• With Recourse finance limit amounts to EGP 2.8 billion through 17 Banks

• Without Recourse finance limit amounts to EGP 1.3 billion through 5 Banks

13% 3%

3%

15%

7%

11% 5%

17%

11%

2% 6%

7% National Bank of Egypt

Al Baraka Bank

Audi Bank

Banque Misr

Bank of Alexandria

SAIB

Credit Agricole

Bank of Cairo

ABC Bank

Union National Bank

Egyptain Arab Land Bank

United Bank of Egypt

Al Tawfik leasing Company (AT lease)

Financial Performance

• Revenues was affected by the financial crisis in 2010 and the political turmoil in 2011.

• NPM showed a hike in FY 2010 due to the securitization, furthermore the company lost its tax holiday in FY 2012 which plunged NPM to reach 5.4% in FY 2014.

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100

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400

500

2008 2009 2010 2011 2012 2013 2014

Tho

usa

nd

s

Revenues (000's)

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

2008 2009 2010 2011 2012 2013 2014

Profitability Margins

GPM

NPM

0.00%

5.00%

10.00%

15.00%

20.00%

25.00%

2008 2009 2010 2011 2012 2013 2014

ROE vs. ROA

ROA

ROE

Al Tawfik leasing Company (AT lease)

Financial Performance

• In FY 2010 cash level reached its maximum due to the securitization.

• With the increase in the AUM, the company was able to finance it through new credit lines.

-

500

1,000

1,500

2,000

2,500

2008 2009 2010 2011 2012 2013 2014

AUM vs. Long term Liability

AUM

LongtermLiability

-

0.10

0.20

0.30

0.40

0.50

0.60

0.70

0.80

2008 2009 2010 2011 2012 2013 2014

Current Ratio

-

1.00

2.00

3.00

4.00

5.00

6.00

7.00

8.00

9.00

2008 2009 2010 2011 2012 2013 2014

Leverage

Al Tawfik leasing Company (AT lease)

Securitization Transaction

• A.T Lease issued its first securitization transaction in the second half of 2010 with an objective to provide the company with alternative long term financing sources other than equity or banks loans.

• It is worth noting that A.T. achieved revenues of EGP 32.3 million through that securitization transaction .

• The securitized portfolio amount to approximately EGP 576.0 million, representing 50% of A.T. Lease outstanding on balance sheet portfolio.

• The securitized portfolio comprised of fixed rate auto, equipment or real estate leasing receivables from large and medium sized corporate entities domiciled in Egypt.

• The securitization portfolio was categorized into three tranches and rated by middle rating and investor services (MERIS).

• It is very worth mentioning that AT lease is pursuing further securitization transactions, capitalizing on the current favorable economic conditions, while enabling At lease to grow its leased portfolio to a greater levels.

Tranche Amount (EGP) No. of Bonds % of Total Maturity date No. of

Months Coupon rate Rating

A 233,000,000 2,330,000 40.45% 10/7/2011 13 9% AA+

B 304,000,000 3,040,000 52.78% 10/6/2013 36 10% AA

C 39,000,000 390,000 6.77% 10/6/2015 60 11.25% BBB-

Total 576,000,000 5,760,000 100%

Al Tawfik leasing Company (AT lease)

Corporate Governance

• AT lease is adhering to the best practices of the effective corporate governance system where AT lease Board is currently including two independent members, as usual all the independent members are highly professionals in the capital market and economics such as Mr. Ziad Bahaa EL dien the previous deputy of the prime minster and Mr. Hany sary EL Dien the previous EFSA Chairmen both of them were in the last board structure

• In addition, Board is supervising three committees; executive committee, audit committee and compensation committee.

• Annual shareholders’ meetings.

• Regular and timely board of directors’ meetings.

• Periodical committees meetings.

37

• Rigorous credit approval process and defined credit policies and guidelines.

• Proper and adequate documentations of meetings, minutes, resolutions, and reports.

• Credit limits and authorities (strict adherence).

• Strict auditing and compliance (legal, accounting, credit, and reporting) procedures.

• Disclosures and transparency to BOD members & shareholders as well as to official reporting for concerned authorities.

• Committed and experienced management team.

Al Tawfik leasing Company (AT lease)

A.T. Lease Committees Structure

Committees

Supporting BOD

Executive Committee

Compensation Committee

Audit Committee

Internal

Provision Committee

HR Committee

Budget Committee

Policies Committee

Assets and Liabilities

Committee

Credit Committee

Al Tawfik leasing Company (AT lease)

Real Estate Sector

Overview

• United Company for Investments and Real Estate Development - UCIRD is an Egyptian Joint Stock company, established in 2008 with an authorized Capital of 100 Million Egyptian Pounds and paid in capital of EGP 61 Million .

• The purpose of UCIRD is to carry out all forms of real estate developments and all the entailed and consequent activities such as :

The smart village project

• The Smart Village in Egypt is the location for hundreds of reputable multinational and local corporations that are looking for a business base in Egypt. The Smart Village Egypt is expected to become the focal point for over 500 corporations as it reaches its completion.

• UCIRD owned 2073 m² located in the Smart Village – Cairo Alexandria Desert road .

• The total investment cost for the smart village project is EGP 120 Million.

• The total Built - up area for the smart village project reach to 12,438 m²

• UCIRD Injecting over EGP 33 Million in construction investment to expedite construction progress in the smart village project.

The company Expansion plan

• Currently UCIRD going to increase the paid in capital to be EGP 125 Million to assist in the implementation of the company the company expansion plan

- Purchasing selling - Renting Properties

- Land acquisitions - Establishing different sorts of constructions (commercial, administrative and residential).

United Company for Investments and Real Estate Development

Almaza Land

• AMIC owned 16,400 m² ( 18 plot ) located in the strategic location beside the International Cairo Airport Almaza, Heliopolis, Cairo .

• The project composition is apartments (Ground + 3 Floors)

• The percentage of the built – up area is 60% for the Ground floor and 66% for the others.

• The total Built – up area for the project is 42,000 m²

• The Total projected construction cost is EGP 100 Million.

AMIC’s Investments Under development

Arab Company for Medical Appliances (ACMA)

Overview

• Arab Company for Medical Appliances (ACMA) is an Egyptian joint stock company, established in accordance with the provisions of Law 43 of 1974 and enrolled in the commercial register in 1989.

• The purpose of establishing the company is working in the production of medical supplies of diagnostic X-ray films and chemicals.

• ACMA owns 85% in Akma Com Trading Company, a distribution company for the domestic and imported medical supplies.

• ACMA’s main business partners are Fuji, Kodak and AGFA.

• ACMA sells its products mainly through tenders for most of the public sector (the Social insurance and the Ministry of Health, hospitals, Armed Forces, hospitals, and other agencies). ACMA also exports part of the production to some Arab countries as Iraq.

• The Company's paid in capital: 13 Million Egyptian Pounds.

Name Ownership %

Arab Co. for Medical Appliances 42.65%

AMIC 28.34%

Misr Insurance 15.57%

Misr for Life Insurance 13.44%

Total 100.00%

Arab Engineering Industries

Overview

• Arab Engineering Industries (AEI) is an Egyptian Joint Stock Company established under the Investment Law No. 230 of 1989 and under the decision of the Minister of Economy and Foreign Trade No. 213 of 1989 licensing the establishment of the company.

• The purpose of AEI is manufacturing wired condensers for household refrigerators, and producing steel wire.

• The Company's paid in capital: EGP 22.6 Million.

• AEI is considered the main local supplier of refrigerator production in Egypt, besides, exporting to a number of Arab countries as Kingdom of Saudi Arabia and Sudan.

Name Ownership %

AMIC 50.67%

Sheikh. Khaled Al Khalifa 14.00%

Mostafa Abd El Samaad 7.43%

Others 27.90%

Total 100.00%

F.M.C.G.

Overview

• F.M.C.G Trading & Distribution is an Egyptian joint stock company, established in 1995, The Company's paid in capital: 14.7Million Egyptian Pounds.

• The purpose of establishing F.M.C.G. is for the import and export business, commercial agencies, marketing and selling of food commodities and other goods and equipment's in addition to establishing, renting and managing warehouses, refrigerators and slaughterhouses for manufacturing and packaging poultry products and all food products, in Egypt and abroad.

• F.M.C.G. has a number of distinguished commercial agencies as Kellogg's, Digestive Biscuits, and Ulker, chocolate Mars, Rio mare, Mcvitie’s , Gandour

• Distribution fleet of 35vechiles & 12 cars ( order taking )

• 2 Distribution branches (Cairo , Alex) & 2 rep. Offices (Hurgada & Sharm El sheikh ), Sub- distributors network Beside Direct Supply To KA Covering Urban cities in ( Delta, Canal zone , Sharkiya , Dakahlia , Sinai ( Hurgada & Sharm Elsheikh ) and Upper Egypt .

• Coverage Progress has been targeted to reach out to 9643 sales point including (Hypermarkets , Super Markets & K. Chains , Large Groceries , Kiosks )

Name Ownership %

Dallah Al Baraka 67.77%

AMIC 32.14%

Others 0.09%

Total 100.00%

FMCG’s Distribution Footprint Spans Egypt

9,643

Retail outlets

50

Vehicles Fleet

20

Egyptian Governorat

es

2

Distribution Centers

Alex Converta (Handy)

Overview

• Alex Converta is an Egyptian joint stock company established in accordance with the provisions of Law No. 159 of 1981.

• The purpose of establishing the company is the manufacture of scented and unscented sanitary paper products, raw materials and fittings and exporting them abroad as well as importing of raw materials and products’ supplies.

• The Company's paid in capital: 25 Million Egyptian Pound.

• The Company's factory is in Burj Al Arab Industrial City - Alexandria.

Name Ownership %

Al Shaer 39.20%

CIIC 20.10%

CIB 8.00%

AMIC 7.60%

Others 25.11%

Total 100.00%

Al Rabie Poultry

Overview

• Al Rabie Poultry is an Egyptian Joint Stock company, established in 1996

• The purpose of the company is breeding parent chicken meat for the production of hatching eggs and one day old chicks

• Al Rabie Poultry is operating a poultry feed unit

• The company also farms its owned lands that surround the production units (Olives and Grapes)

• The Company's paid in capital: 25 Million Egyptian Pounds

• The company operates over a total of 610 Acres.

• The company’s farms are located in El Faregh Valley – Cairo Alexandria Desert Road

Shareholder Structure Ownership %

AMIC 38.30%

Misr Al Arabia for Poultry 32.00%

Bayt Al Tawfik for Development 10.72%

Arab Company for agricultural Investments 6.80%

Sheikh Saleh Kamel 0.81%

Others 11.37%

Total 100.00%

Parent & Hatchery Production

•12 million chick / year

Feed

•Capacity of 24,000 tons / year

Olive & Grapes farms

Misr Arab For Broiler Production

Overview

• Misr Arab For Broiler Production is an Egyptian Joint Stock Company established in accordance with the provisions of the Investment Law No. 95 of 1992.

• The company’s main purpose is constructing and operating poultry breeding farms (all types of white meat-producing poultry)

• The Company's paid in capital: 26 Million Egyptian Pounds.

• The company’s farms are located in El Faregh Valley – Cairo Alexandria Desert Road.

• The company operates over a total of 100 Acres

Broiler

• 3.6 million chicken / year

Name Ownership %

Misr AL Arabia for Poultry 29.00%

AMIC 15.00%

Baraka For investment and development 12.00%

Sheikh. Hussien El Harthey 20.00%

Others 24.00%

Total 100.00%

Al Yosr Water Desalination

Overview

• AL – Yosr Water Desalination & Purification is an Egyptian joint stock company, established in 1987.

• The purpose of the company is to manage, operate and maintain water stations for desalination of sea water and turning it into drinking water.

• The Company's paid in capital: 12.1Million Egyptian Pounds.

Name Ownership %

Dallah el Baraka 39.50%

AMIC 39.71%

Dallah for Real estate investments 11.92%

Others 8.87%

Total 100.00%

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