JV Structure Steps Plan

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Presentation transcript:

JV Structure Steps Plan Petro Saudi International JV Structure Steps Plan

CURRENT STRUCTURE Shareholders Tarek Separate holding structures for the Turkmen and Argentinean assets Petro Saudi International (Saudi) Petro Saudi Ltd Inc (Panama) Petro Saudi International Holdings Cayman Ltd (Cayman) Argentinean Assets 1MDB Petro Saudi Ltd (BVI) Petro Saudi International (Cayman) [●] (Jersey) Turkmen Assets 22 September 2009 3047817

STEP 1 Tarek transfers Petro Saudi Ltd Inc to Petro Saudi International (Cayman) Consideration for transfer is $1 Shareholders Tarek Petro Saudi International (Saudi) Petro Saudi Ltd Inc (Panama) Petro Saudi International Holdings Cayman Ltd (Cayman) Argentinean Assets 1MDB Petro Saudi Ltd (BVI) Petro Saudi International (Cayman) [●] (Jersey) Turkmen Assets 22 September 2009 3047817

STEP 2 Shareholders Petro Saudi International Holdings Cayman Ltd transfers Petro Saudi International to 1MDB Petro Saudi Ltd Consideration for transfer is issue of $1.5 billion new equity and a shareholder loan of $700million Petro Saudi International (Saudi) $1.5b new equity Petro Saudi International Holdings Cayman Ltd (Cayman) $700m loan 1MDB Petro Saudi Ltd (BVI) Petro Saudi International (Cayman) [●] (Jersey) Petro Saudi Ltd Inc (Panama) Turkmen Assets Argentinean Assets 22 September 2009 3047817

STEP 3 Shareholders 1Malaysia Development MDB subscribes for new shares in 1MDB Petro Saudi Ltd equal to 40% of its total issued share capital Consideration for subscription is $1.5 billion Petro Saudi International (Saudi) 1Malaysia Development MDB (Malaysia) Petro Saudi International Holdings Cayman Ltd (Cayman) 60% $1.5b for 40% equity 1MDB Petro Saudi Ltd (BVI) Petro Saudi International Cayman (Cayman) [●] (Jersey) Petro Saudi Ltd Inc (Panama) Turkmen Assets Argentinean Assets 22 September 2009 3047817

STEP 4 Shareholders Petro Saudi International (Saudi) 1Malaysia Development MDB (Malaysia) Petro Saudi International Holdings Cayman Ltd (Cayman) 40% 60% Repayment $700m loan 1MDB Petro Saudi Ltd (BVI) 1MDB Petro Saudi Ltd repays $700m shareholders loan to Petro Saudi International Holdings Cayman Ltd Downstream funding and new investments to be considered in due course Petro Saudi International Cayman (Cayman) [●] (Jersey) Petro Saudi Ltd Inc (Panama) Turkmen Assets Argentinean Assets 22 September 2009 3047817