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Kuwait Financial Centre K.P.S.C. "Markaz" (Boursa Kuwait: MARKAZ) Investor Presentation Asset Management | Investment Banking

Discussion Guide Company Profile .…………................................. 3 Service Offerings ……………….................…….. 9 Strategic Direction ………..…………...……….… 21 Corporate Governance ………………………...... 25 Financial Performance ………..……....……….… 29 Corporate, Social and Economic Responsibility..43 2

1. Company Profile 3

Markaz Overview One of the leading financial institutions in the region delivering consistent shareholder returns Leading market position Sustainable long-term shareholder Building a sustainable economy in Our Team - cornerstone of our success As one of the region’s leading asset returns Kuwait A team of 150+ employees spread over management and investment banking firm, Generates sustainable long-term returns Endeavors to actively participate in offices across Middle East, US and India Markaz offers custom investment solutions driven by robust operations and consistent community service and contribute to with exceptional track record dividend payouts building a sustainable economy in Kuwait  Established in 1974 and listed on Boursa Kuwait in 1997, is an asset management and investment banking institution  Consistently outperformed the relevant benchmarks on its equity funds and managed portfolios  Real estate investments across MENA and International, with a key focus on income generating assets  Efficiently delivering MENA focused research reports, and consulting through its research subsidiary – Marmore At Markaz, our reputation is our biggest asset. We have been voluntarily operating under strict guidelines long before corporate governance was the norm 4

Driven by an enduring Vision, Mission and Principles We build sustainable wealth for our The Choice For Our Our clients and partners through prudent Wealth Creation Vision Mission and innovative solutions. Business Principles Client Focus Innovation Controls  Product offerings customized to the client’s needs  Focus on quality of returns  Strict investment guidelines and controls  Focus on risk diversification  Regularly offering new investment channels  Ethical dealings and objective reporting across the firm 5

Investment and Advisory Solutions Products and Services Asset Management: Real Estate Investments: Investment Banking: Research:  GCC Equity Funds  Middle East and North Africa  Mergers & Acquisitions  MENA focused research  Fixed Income  International  Advisory  Consulting services  Private Portfolios  Equity & Debt Capital Markets  Oil & Gas / PE / Others  Listings Adding significant value to the clients by providing services of the highest quality and ethics KD 1.042 KD 714 KD 328 KD 1.18 billion million million billion Total Assets under Asset Management Real Estate Investments Investment Banking Management AUM AUM Transactions to date * Current AUM / Investments (As of Mar 31, 2018) 6

International Investment Reach Germany US Kuwait Qatar Bahrain Oman KSA India UAE Egypt Lebanon Jordan Equity Funds Fixed Income MENA Real Estate Investments International Real Estate Investment Banking Advisory Offices 7

Accreditation and Awards One of the most recognized and well awarded brands across the MENA region Best Asset Manager Best Investment Bank Best Investment Bank in in Kuwait Kuwait By: EMEA Finance By: Global Finance By: Global Finance Best Investment Bank Best Equity Fund in Kuwait Best Islamic Fund “Mumtaz” By: Euromoney Awards By: MENA Fund Manager Awards By: Zawya Awards 8

2. Service Offerings 9

Markaz Offerings Asset Management MENA Real Estate International Real Estate  5 GCC equity funds (AUM of KD 644 million)  Manages part of the Kuwait Investment  Advises and co-invests in real estate Authority’s National Real Estate Portfolio, Kuwait transactions with 3 ongoing US focused funds  1 fixed income fund (Private Placement) (Value up to KD 250 million)  Operates through Markaz Subsidiary, Mar-Gulf  Equity & Fixed Income clients portfolios  1 Kuwait real estate fund (AUM of KD 79 million) Management, headquartered in Los Angeles, investing globally California  Markaz Gulf Real Estate Fund (Private  Oil & Gas, Private Equity and other investments  Placement) Real estate properties across multiple funds,  Total AUM KD 714 million asset classes and development stages  A total of 6 income generating and 3 under  development properties across KSA & UAE Total AUM of KD 122 million (Equity + Debt)  Total AUM KD 319 million (Markaz + Clients) Investment Banking Research  Executed investment banking transactions of  Publishes MENA focused research reports KD 1.18 billion to date across the GCC region  Bespoke consulting services  Advisory services across M&A, equity & debt  Operates through Marmore, a subsidiary of capital markets, listings, restructuring and other Markaz advisory transactions  Established in 2010, with offices in India and Kuwait * Current AUM / Investments (As of Mar 31, 2018) 10

Asset Management AUM of KD 714 million GCC Equity Funds Midaf Fund Mumtaz Fund Forsa Financial Fund Arabian Fund Islamic Fund Kuwait Focused; Kuwait Focused; Kuwait Focused; MENA Focused; Kuwait Focused; AUM of KD 87.1 million AUM of KD 62.8 million AUM of KD 40.0 million AUM of KD 10.3 million AUM of KD 14.8 million Fixed Income Funds* Private Client Portfolios* Oil & Gas, Private Equity and Other Investments Mumtaz Fixed Income Fund 1. Equity Portfolios (Private Placement - June 2. Fixed Income Portfolios 2018) * Private Portfolios and Funds AUM undisclosed 11

MENA Real Estate AUM of KD 319 million Long established track record of investing in MENA Real Estate MENA Real Estate Advisory Investment Philosophy Portfolios and Funds Overview Professional Network  Offering real estate investment  Focusing on acquiring and  Kuwait: Managing part of the  A vast network of developers, Kuwait Investment Authority’s opportunities across the MENA developing institutional quality consultants, brokers, financial region properties National Real Estate Portfolio institutions and partners and Markaz Real Estate Fund  MENA Real Estate activity was  Key focus on prime locations  Access to unique investment  KSA: 3 income generating started in 1998 with the launch opportunities covering the whole  Robust exit strategy before the of Markaz Real Estate Advisory commercial buildings and 1 spectrum of the real estate Services closure of a transaction residential projects under sector investing in income development generating assets  UAE: 3 residential income generating properties and 2 residential projects under development  Markaz Gulf Real Estate Fund (Private Placement) 12

MENA Real Estate Investments Strong regional presence with offices in Kuwait, Riyadh, Khobar, Dubai and Abu Dhabi Kuwait KSA UAE  Markaz is managing part of the Kuwait Markaz started its operations in the KSA in 2006 Markaz started its operations in the UAE in 2010 Investment Authority’s National Real Estate and has offices in Riyadh and Khobar and has offices in Dubai and in Abu Dhabi Portfolio with a value up to KD 250 million Projects Overview Projects Overview  Markaz Real Estate Fund with an AUM of KD 79 million across 19 properties Projects under development: Projects under development:  Markaz Gulf Real Estate Fund (Private  Residential project in Riyadh of 145 units  Residential project in Abu Dhabi of 165 units Placement) valued at KD 15 million and valued at KD 18 million  Residential project in Dubai of 149 units and Income Generating Properties valued at KD 19 million  Commercial building in Riyadh with 44 units of offices and shops Income Generating Properties  Commercial building in Dammam with 51  Residential building in Abu Dhabi Al Reem units of offices and shops Island of 58 units  Residential building in Khobar of 75 units  Residential Building in Abu Dhabi Al Reef Island of 35 units  Residential building in Abu Dhabi Al Reem Island (Boardwalk) of 35 units 13