Presentation to Family Members of Limited Liability Vehicles 24 June 2014 Hampden Agencies Ltd

Hampden Agencies Limited Introduction – Neil Smith, CEO Lloyd’s and your Limited Liability Vehicle – John Mocatta, Members’ Executive Hampden Underwriting Research – Michael Wake-Walker, Analyst Running the family LLV – Martin Pearce, Nomina plc The Members’ Executive’s role – Alexander Raven, Members’ Executive Questions INTRODUCTION

Hampden Agencies Limited What is Hampden Agencies Younger family members Neil Smith - Introduction

Hampden Agencies Limited Lloyd’s old and new Your Limited Liability Vehicle (“LLV”) in Lloyd’s Your LLV and the family’s long term strategy Lloyd’s and your Limited Liability Vehicle

Hampden Agencies Limited Lloyd’s beginnings

Hampden Agencies Limited Lloyd’s 20 th century

Hampden Agencies Limited Lloyd’s capacity 1993 to 2014

Hampden Agencies Limited USA $12.3bn UK $5.4bn Europe $2.25bn Australia $2bn Canada $2bn Bermuda $1bn Japan $915m Brazil $350m China $303m Russia $245m Source: Lloyd’s “Global Heat Map” 2012 LLOYD’S PREMIUM INCOME (2012)

Hampden Agencies Limited Lloyd’s old and new Your Limited Liability Vehicle (“LLV”) in Lloyd’s Your LLV and the family’s long term strategy Lloyd’s and your Limited Liability Vehicle

2014 PREMIUM INCOME SPLIT Hampden Agencies Limited Split of Hampden’s aggregate advised portfolio Source: HAL & 2014 Syndicate Business Forecasts, risk codes mappings based on stats relating to Lloyd’s Classes. Casualty has been split between US Dollar premium and non US Dollar.

Hampden Agencies Limited Double use of assets Limited liability History of returns A Family LLV’s key features

Hampden Agencies Limited £2,000,000Capacity / Premium Income Maximum value of insurance premium receivable in the year by the LLV £1,000,000Funds at Lloyd’s The “risk capital” provided by the LLV’s owners Funds at Lloyd’s and Capacity of the LLV

Hampden Agencies Limited Double use of assets Limited liability History of returns A Family LLV’s key features

Hampden Agencies Limited Double use of assets Limited liability History of returns – not as you would expect A Family LLV’s key features

Hampden Agencies Limited HAL RETURNS: Notes to 2010: Results at 36 months calculated from Hampden Members’ aggregate returns excluding any movement on run-off years and 2013: Unaudited estimates calculated from Syndicate Monitoring Returns’ mid-point estimates at May 2014 (2012 Quarter 9 and 2013 Quarter 5) 3. Premium limit is the total amount underwritten by the Member. 4. FAL are assumed to be 40% of Premium Limit in the years 2001 to 2007, 45% for 2008 to 2011 and 50% for 2012 onwards 5. All returns include standard personal expenses, but are shown before Members’ Agents charges. 6. Lloyd’s Return on Premium Limit has not been updated for 2011/2012 as figures have not been released yet. 7. See page 22, “Compliance Notices”, for risk factors. Source: HUR HAL Return on Funds at Lloyd’s: e2013e 31.1%34.3%52.9%26.2%13.9%65.5%45.9%22.3%42.5%6.9%16.0%16.2%13.0%

Hampden Agencies Limited Lloyd’s old and new Your Limited Liability Vehicle (“LLV”) in Lloyd’s Your LLV and the family’s long term strategy Lloyd’s and your Limited Liability Vehicle

Hampden Agencies Limited Property Stocks and shares Other assets Private Equity Rental property Bonds & options The LLV as part of a Family’s wealth Funds at Lloyd’s

Hampden Agencies Limited –What is Hampden Underwriting Research? –Underwriting returns –The cycle –Opportunities HUR – Michael Wake-Walker

Hampden Agencies Limited EXAMPLE SYNDICATE Syndicate Account result was achieved as follows: The syndicate made £129m profit on £400m capacity = 32% of capacity

Hampden Agencies Limited –What is Nomina ? –Namecos and Limited Liability Partnerships –Limited liability –Building up your business Nomina plc – Martin Pearce

Hampden Agencies Limited Preparation of audited financial statements Submission of tax returns Operation of bank accounts Release of distribution profits and collection of losses Future tax estimates Investment management accounts Company secretarial services Provision of Directors or Designated Members Role of Nomina

Hampden Agencies Limited My role as a Member’s Executive Areas we advise on A family business for the future Role of Member’s Executive – Alexander Raven

Questions Hampden Agencies Ltd

Hampden Agencies Limited This presentation has been issued and approved for the purposes of section 21 of the Financial Services and Markets Act 2000 by Hampden Agencies Limited ("HAL"), which is authorised and regulated by the Financial Conduct Authority. HAL is a registered Lloyd's Members Agent/Adviser of 85 Gracechurch Street, London EC3V 0AA. Telephone: Facsimile: HAL is a subsidiary of Hampden Capital Plc, whose parent company is Hampden Holdings Limited. Calls to and from HAL may be recorded. HAL has taken reasonable care to ensure that the information contained in this presentation is true and accurate in all material respects at the date of publication, but this may change over time. HAL has also taken reasonable care to ensure that there are no other material facts the omission of which would make any statement in the presentation misleading. No representation or warranty, express or implied, is made or given by or on behalf of HAL or its directors or any other person as to the accuracy, completeness or fairness of the information or opinions contained in this presentation and no responsibility or liability is accepted for any such information or opinions. This presentation provides information of a general nature and it is not, and does not purport to be, a complete account of all matters that are or may be material to a decision as to any investment. Nothing in this presentation shall be construed as the giving of investment, tax, legal or other advice by HAL or any other person and if you are in any doubt as to whether to invest in the securities described in this presentation, you should consult an independent financial adviser who is qualified to advise on investments of this nature. The communication of information and services set out in this presentation is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation. In particular, the contents and/or subject matter of the presentation do not constitute an offer of information, products or services to US persons or in the United States, or in any other jurisdictions where such an offer may be unlawful. Furthermore, this presentation does not represent a prospectus or invitation in connection with any solicitation of capital. Nor does it constitute an offer of services, an offer to sell securities or insurance, a solicitation of an offer to buy securities or insurance, or a distribution of securities in the United States or to a US person, or in any other jurisdiction where it is contrary to local law. Such persons should inform themselves about and observe any applicable local legal requirements and it is the responsibility of prospective investors to satisfy themselves as to full compliance with the relevant laws and regulations of any territory in connection with any application to invest in a Nameco and provide Funds at Lloyd's, including obtaining any requisite governmental or other consent and adhering to any other formality prescribed in such territory. © Hampden Agencies Limited (June 2013) DISCLAIMER

Hampden Agencies Limited Glossary