A FOCU CUSED APPROACH In Inves estor Pres esentati tion 2Q/ Q/1H H 2018 2018
Cau autionin ing an and Forw orward Lo Lookin ing St Statements This presentation was prepared by Egypt Kuwait Holding ( “ EKH ” ) and is strictly confidential and may contain market sensitive information. All recipients hereof who are permitted to receive the same are bound by the restrictions on disclosure and use and other terms thereof. The provision of this presentation is intended for discussion purposes only, and no person has represented or warranted the accuracy or completeness of any information contained herein. It does not constitute an offer or recommendation to enter into any transaction by EKH, its affiliates or its officers, directors or advisors. If you decide to enter into a transaction you do so in reliance on your own judgment. When making an investment decision, you should rely solely on the final documentation relating to the transaction and not this presentation. This presentation is strictly confidential and speaks only as of the aforementioned date. This presentation is not intended to be relied on for any purposes by any person without EKH ’ s consent. Neither EKH nor any of its affiliates are under any obligation to consider or enter into any transaction. EKH and its affiliates shall not have any liability for any information contained in, or any omission from, the presentation or any other written or oral communication transmitted to the recipient(s) and they disclaim all liability for any direct, indirect, consequential or other damages or losses incurred by the recipients or any third party that arise from any reliance on this document or its accuracy. Egypt Kuwait Holding | Investor Presentation 2
AGENDA EKH EKH Overview Growth Dr Drivers s & Rec ecent De Developments • NatEnergy • Sprea • Offshore North Sinai • AlexFert • Delta Insurance Futu Future Exp Expansion • MDF Project Fin Financial High ighlights Ap Appendix 1: : Organization & Governance
EKH KH OVERVIEW Egypt Kuwait Holding | Investor Presentation 4
EKH AND IT ITS S COMPANIES BENEFIT FR FROM A CLE LEAR STRATEGY AND IN INVESTMENT PHILOSOPHY Hands-on investor and Develop greenfield operations to Secure strategic partnerships with operator leverage operational expertise leading international value added industry players Long-term investor with Create synergies between Expand industry expertise to opportunistic exit strategy different group companies new markets Egypt Kuwait Holding | Investor Presentation 5
PRI RIMARY PORTFOLIO IN INVESTMENTS Fe Fertili ilizers and nd Petr trochemic icals ls Segment t Energy and Ener nd Ener Energy-Rel elated ed Segmen ent t Div iversif ifie ied Segment t Delta Insu nsurance (Li Life and nd General Insu nsurance Company) Sp Sprea Misr sr Offsh shore North Si Sinai Effective Ownership (Chemicals Plant) (Gas Up Upst stream) 55.4% Effective Ownership Effective Ownership 100.00% 100.00% NatE tEnergy Building Mate terials Ind ndustries AlexFert (Gas Dist stribution & & Electricity Busi siness Company (Ammonia, Ur Urea Fertilizer and nd Hol olding Company) (Cement Plant) Ammonium Su Sulfate Plant) Effective Ownership Effective Ownership Effective Ownership 100.00% 38.03% 42.6% Egypt Kuwait Holding | Investor Presentation 6
EKH at t GL GLANCE & KEY FIN FINANCIAL HIG IGHLIGHTES Revenue (USD mn) Attributable EBITDA (USD mn) 5 5 > 4,0 ,000 strategic sectors, ranging professionals employed by 130 from fertilizers and 414 the holding company and 351 petrochemicals to gas its subsidiaries 89 283 distribution & electricity 235 generation, building 63 58 183 materials and insurance 42 116 27 80 17 USD 1.1 .1 bn USD 500 500 mn 2015 2016 2017 1H 17 1H 18 2Q 17 2Q 18 2015 2016 2017 1H 17 1H 18 2Q 17 2Q 18 total assets total equity book value Attributable Net Profit (USD mn) Segmental Attributable Net Profit (1H 2018) > 20 20 % c. USD 1 bn Downstream Gas 9% & Electricity average ROE in the 24% cumulative net profit 120 Upstream Gas past 3 years [2005-17] Fertilizers 31% 58 48 39 36 c. USD 256.1 mn 18% Petrochemicals 23 17 Diversified paid-in capital 18% 2015 2016 2017 1H 17 1H 18 2Q 17 2Q 18 Egypt Kuwait Holding | Investor Presentation 7
GROWTH DRIV IVERS & RECENT DEVELOPMENTS Egypt Kuwait Holding | Investor Presentation 8
GR GROWTH DR DRIVERS - NA NATENERGY c. 1.3 .3 mn Revenue (EGP mn) EBITDA (EGP mn) > 19 19% household clients market share in Egypt 360 953 > 718 718 > 8,4 ,400 247 667 223 624 217 607 451 industrial clients 156 commercial clients 304 106 215 82 5.0 .06 bcm/year 7,4 ,400 km 2015 2016 2017 1H 17 1H 18 2Q 17 2Q 18 2015 2016 2017 1H 17 1H 18 2Q 17 2Q 18 in pipes gas distributed Profitability by Subsidiary (1H 2018) Attributable Net Profit (EGP mn) 75 75 mw 34,000 13% electricity generated refrigerated tons 302 NatGas 6% 6% 209 189 Fayum Gas 2,5 ,500 USD 890 mn 156 139 93 74 Nubaria recoverable investments employees 75% Kahraba 2015 2016 2017 1H 17 1H 18 2Q 17 2Q 18 Egypt Kuwait Holding | Investor Presentation 9
NA NATENERGY CONCESSIONS • Phase I Fayum City * • Phase II Fayum City • Extension Phase II Fayum City • Extension Phase II Fayum City Egypt Kuwait Holding | Investor Presentation 10 10
GR GROWTH DR DRIVERS - KAHRABA Revenue (EGP Mn) ) & & Cap apacit ity NET PROFIT & CAPACITY (EGP mn) 1,200 140 115 MW 120 1,000 100 800 75 MW 75 MW 75 MW 80 600 60 971 42 MW 400 34 MW 34 MW 40 619 200 20 335 215 100 111 85 - 0 2014 2015 2016 2017 2018 2019 2020 Revenue Capacity Unde ndergoin ing an n exp xpansio ion plan plan to to add dd 40 40 MW W wi with th tot total l investments of f 25 25m m Eur Euro (c.550 550m EGP) to to be be com omple leted by by 1Q Q 2020 2020 Egypt Kuwait Holding | Investor Presentation 11 11
GR GROWTH DR DRIVERS - SP SPREA Revenue (EGP mn) EBITDA (EGP mn) 100% 100 > 85 85% 2,049 effective ownership market share in Egypt 631 1,248 412 1,133 1,049 310 298 822 > 132 ktpa 215 38+ 38 570 519 146 150 Formaldehyde & form-urea export courtiers 2015 2016 2017 1H 17 1H 18 2Q 17 2Q 18 capacity 2015 2016 2017 1H 17 1H 18 2Q 17 2Q 18 > > 3.7 .7 mn/sheets > 102 ktpa > Net Profit (EGP mn) Local vs. Export Sales (1H 2018) glues and melamine pa formaldehyde resins capacity Formica capacity 23% 500 Local Sales - > 88 > 88 ktpa Manufacturing 630 630 302 266 239 Local Sales - SNF sulphonated 14% Trading 63% employees 125 129 114 naphthalene formaldehyde capacity Export Sales 2015 2016 2017 1H 20171H 2018 2Q 17 2Q 18 Egypt Kuwait Holding | Investor Presentation 12 12
GR GROWTH DR DRIVERS - ALE LEXFERT Revenue (USD mn) EBITDA (USD mn) 57 177 136 42.6% 42.6 > 105 105% 32 30 29 89 86 72 effective ownership utilization rate in 1H18 44 14 14 36 10 396 ktpa 650 ktpa 2015 2016 2017 1H 17 1H 18 2Q 17 2Q 18 2015 2016 2017 1H 17 1H 18 2Q 17 2Q 18 ammonia capacity urea capacity Local vs. Export Sales (1H 2018) Attributable Net Profit (USD mn) 165 ktpa 422 422 14 29% ammonium sulphate employees 8 Local Sales 7 capacity 4 4 2 71% Export 2015 2016 2017 1H 17 1H 18 2Q 17 2Q 18 -1.40 Egypt Kuwait Holding | Investor Presentation 13 13
GR GROWTH DR DRIVERS - OFF FFSHORE NO NORTH SIN SINAI CONCESSION (O (ONS) As Asset Ov Overv rvie iew Located in the Eastern Nile delta, 50 Km NE of Port Said, Operated through NOSPCO JV after take over from Perenco mid 2014 . Two Development Leases Toa & Kamose , awarded in 1998, Total Area is 355 Km2. Shallow water : WD 30 – 85m Dry Gas (99.9% Methane) with 0.2%CO2 Effective Dev. Period for 20 Yrs. from date of 1st production in 2009 (2029) Extended for additional 5 Yrs. 9 wells have been drilled in Tao Field during Exploration & Development phase with cumulative production of 275 BCF. Reserve: Low risk Pliocene upside > 400 BCF Egypt Kuwait Holding | Investor Presentation 14 14
GR GROWTH DR DRIVERS - OFF FFSHORE NO NORTH SIN SINAI CONCESSION (O (ONS) Offshore North Sinai Rumana Production Facilities Of Offic fice Ca Camp in n Onsh Onshore CP CPF F Si Site Rum Rumana CPF CPF Rum Rumana CPF CPF Egypt Kuwait Holding | Investor Presentation 15 15
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