STRATEGY PRESENTATION SEPTEMBER 2018 Disclaimer Certain - PowerPoint PPT Presentation

STRATEGY PRESENTATION SEPTEMBER 2018

Disclaimer Certain information disclosed in this presentation consists of forward looking statements reflecting the current view of the company with respect to future events, and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements that may be expressed or implied by such forward looking statements, including worldwide account of trends, economic and political climate of Egypt, the Middle East, and changes in business strategy and various other factors. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described in such forward looking statements. Investor presentation 2

TMG at a glance [TMGH.CA/TMGH EY] as at end-1H2018 MENA’s leading developer (5) c70k+ units delivered 875 operational hotel #1 Egyptian RE developer 84k+ / 3,048 units sold rooms (since inception) by market cap (since inception / 1H2018 only) 443 rooms under Highest cumulative deliveries 30+ years track record development (1) by a single MENA developer Remaining collections [EGPbn] New sales [EGPbn] Backlog [EGPbn] 121.5k sqm GLA 38.0 27.4 12.9 24.6 portfolio (2) 16.5 5.2 35.5k sqm GLA leased 1H2017 1H2018 1H2017 1H2018 1H2017 1H2018 Expected net cash flow from backlog Net cash position [EGPbn] 197k club membership c16mn sqm and delivered units [EGPbn] capacity (3) remaining BuA 3.1 11.4 8.4 c3.5mn BuA commercial 0.8 c151k memberships yet to be BTS and BTL sold 1H2017 1H2018 1H2017 1H2018 Egypt’s leading developer of premium master planned communities with sufficient land bank for 17 Years and Sizeable Portfolio of Recurring Income Assets now contributing 25% of GOP for 2017 (4) and planned to increase to 40-45% Note (1): Includes Four Seasons Sharm El Sheikh extension (under construction) and Four Seasons Madinaty (in design phase) Note (2): Includes Open Air mall (plan to open in 2019) Note (3): Substantial high-margin revenue stream with limited CapEx needs overlooked by the market, to deliver exponential growth mimicking accelerated population build-up Note (4): Contributed 27% in 1H2018 Note (5): By number of units delivered Investor presentation 3

We continue to deliver on our key strategic priorities previously communicated to the market New sales [EGPbn] Backlog [EGPbn] 38.0 24.6 12.9 Achieving robust growth in sales 5.2 1H2017 1H2018 1H2017 1H2018 � The Group invested EGP1bn to Hospitality EBITDA [EGPmn] (1) increase its stake in ICON to 83.3% Continue building our recurring income portfolio – 43.4% � Signed JLL to manage and operate 36.0% Open Air Mall in Madinaty - target 40-45% of Gross Profit by 2020, up from 25% in 2017 � Signed Carrefour as anchor tenant in 179 326 Rehab & Madinaty malls, planned to 1H2017 1H2018 open in September 2018 EGP1bn proceeds from the Executing the Group’s strategy of monetizing non-core assets transaction Disciplined approach for land acquisitions while managing Strategic cEGP10.3bn of financial risk land sales as of mid- August 2018 Mission: Provide exceptional services to all our Preserving capital appreciation while providing a dividend clients and ensure great customer experience and stream capitalize on such client base for new projects Note (1): Hospitality EBITA reached EGP344mn until July 2018 Investor presentation 4

Strategic vision allowed for early foothold in rapidly urbanizing East Cairo Population: 30k Population: 1.5mn Population: 4.5mn Expected population: 10mn Investor presentation 5

■ ■ ■ ■ ■ Case in point: successful launch of Celia – a testament to the strength of TMG brand Sales status as at 1H2018 Major corporate revamp since July 2017 - unmatched brand equity of TMG in the Egyptian 100% 500 feddans 1.03mn sqm market 80% Celia land area Total residential area 4,799 807 60% Celia is a new mixed-use development located on 500 feddans in the New Administrative Capital (NAC) – largest 40% 1,955 units (c26%) cEGP7.2bn land plot launched in NAC to date 20% Units sold until Total net sales since launch Total residential BuA of c1.03mn sqm 1,697 258 end-1H2018 until end-1H2018 (in 25 days) 0% Launched in June 2018 with net sales reaching cEGP10.3bn Apartments Villas by mid-August, less than three months since launch (1) – 7,561 units Units sold Units unsold project to be completed within the next 5 – 7 years Total residential units for ■ Very good market reception as a testimony to brand sale equity ■ Significant pent-up demand in location despite earlier Units breakdown by type BuA breakdown by type launches by smaller companies before the launch of Celia ■ Good outlook on demand dynamics following launch 13% 14% ■ More than 16% of clients are returning clients 22% Well-diversified offering portfolio: ■ Four types of multitenant buildings, 8 floors each ■ Five types of stand-alone units ranging from 213 to 373 86% 65% sqm per unit ■ Master plan accommodates for a sporting club and basic services Villas Apartments Services Villas Apartments Land purchased in 2017 for EGP2,100/sqm, payable over 9 years (10% down payment, 2 years grace period + 7 years installments, interest of 10% only) Investor presentation 6 Note (1): Sales until end-1H2018 reached EGP7.2bn

We are on track to achieve all-time high sales ■ We are benefiting from constant population build-up in our projects, allowing us to monetize our recurring income assets which has a positive impact on our gross profit. ■ Strong line-up of non-residential BuA for sale expected in 2H2018 (1) Evolution of total presales accross our projects EGPbn 16.0 13.9 0.7 3.1 2.0 3.5 5.9 5.9 6.1 6.6 13.1 5.2 12.9 +100% y-o-y +150% y-o-y 14.0 12.0 1.8 3.6 10.0 8.0 0.7 0.2 0.4 0.6 6.0 4.0 0.8 2.5 0.1 2.0 0.1 13.9 11.1 3.1 1.9 2.7 5.5 5.7 5.5 5.9 9.5 2.7 0.0 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 1H17 1H18 Net residential Non-residential Total presales Note (1): Non-residential sales are usually concentrated in the last 4 months of the year Investor presentation 7

Exceptional Performance in 2H2017 and 2018 outperforming all peers – demand / supply gap in market still exists Sales of other market players (1) [EGPbn] Units delivered in 2017 (1) Annual supply by Tier 1 listed developers still well below our 12.0 9.8 8.6 estimates of market demand 1,386 (2) by mid-to-high income household segment of at 2015 2016 2017 least 50k units per annum Total 4 ,854 units delivered 10.5 8.5 6.3 1,781 (2) 2015 2016 2017 5.9 5.9 4.6 TMG delivered over 1,151 (2) 5.1k units 2015 2016 2017 in 2017 alone 5.1 3.4 536 0.9 2015 2016 2017 Investor presentation 8 Note (1): Source: Companies and sell-side reports; Note (2): Includes second home-deliveries;

On track with our monetization plan Education alliance between TMG Holding, GEMS Education and EFG Hermes ■ In line with our previously announced strategy, the company has been successful in monetizing some of its non-core assets that were not captured by the market. ■ In May 2018, GEMS Education and EFG Hermes entered into a strategic alliance with TMG to acquire, operate and develop k-12 schools in Al Rehab and Madinaty. ■ Under this agreement, GEMS Education and EFG Hermes Private Equity acquired 4 schools for a total consideration of EGP1.0bn. ■ More non-core assets have been slated for similar transactions and we will be updating the market once these transactions are concluded. Investor presentation 9

■ ■ ■ Continue investing in hotel portfolio – significant improvement across all KPIs Four Seasons Sharm El Sheikh Four Seasons Nile Plaza, Cairo Hospitality segment recovery [200 keys, opened 2001] [366 keys, opened 2004] 1,200 60% 53% 50% 45% 1,000 44% 44% 50% 43% 40% 51% 34% 800 40% EGPmn 43% 28% 43% 27% 600 30% 38% 38% 37% 33% 400 20% 1,122.5 27% 607.9 356.1 421.3 377.7 550.7 701.5 747.7 606.2 873.5 21% 200 19% 10% 322 145 105 221 308 320 509 267 438 95 0 0% 2010 2011 2012 2013 2014 2015 2016 2017 YTD Jul 17 YTD Jul 18 Revenue GOP GOP margin (RHS) EBITDA margin (RHS) Four Seasons San Stafano, Alexandria Kempinski Nile Hotel, Cairo Freed liquidity from monetizing non-core assets and [118 keys, opened 2007] [191 keys, opened 2010] invested EGP1.0bn in ICON in a value accretive transaction, increasing stake in TMG’s yielding hospitality segment to 83.3% 443 new keys under development: ■ 346 keys in FS Madinaty + 121 residential units, construction breaking ground in 2018, to be completed in 2020 ■ 97 keys in FS Sharm El Sheikh ext. + 69 residential units; under construction, to be completed in 2019 Ongoing partial renovation of FS Nile Plaza Investor presentation 10