European Investment Bank Financial Instruments enhancing access to RDI finance for companies to achieve Europe 2020 Flagship Initiatives (Innovation Union, Digital Agenda, Resource Efficient Europe…) Joint EIB/EIF presentation 9th European Week of Regions and Cities, Brussels, 11 October 2011 European Investment Bank

European Investment Bank Disclaimer This Presentation is incomplete without reference to, and should be viewed solely in conjunction with, the oral briefing provided by the European Investment Bank (“EIB”). The terms and conditions are intended as an outline for discussion purposes only and made on an indicative basis. All figures set forth in this Presentation are subject to change, to a satisfactory due diligence and to all necessary internal approvals of EIB (in particular of its credit committees).   The information in this Presentation reflects the prevailing conditions and the view of EIB as of this date and are accordingly subject to change and based on carefully selected sources believed to be reliable. EIB has not independently verified this information and does not make any representation or will be liable that such information is accurate, valid, timely and complete. This Presentation is provided without any liability whatsoever by EIB and shall not constitute any obligation of EIB to extend credit facilities to the Company or to carry out a due diligence review of the aspects relevant for the financing of the Project. Neither this presentation nor any of its contents may be duplicated, published or used for any other purposes without the prior written consent of EIB. European Investment Bank 22/09/2011 European Investment Bank

EIB GROUP : EIB/EIF product range Risk Capital CIP Resources (SME) RSFF (SME / MidCap) RSFF / Investment Loans Facility: High Growth Innovative SME Scheme (GIF), Ecotech Purpose: IP financing, technology transfer, seed financing, investment readiness Target Group: VC Funds, Business Angels EIF Product: Fund-of- Funds Competitiveness and Innovation Program (CIP) Guarantee schemes Growth financing for SMEs VC Funds, CLOs SME guarantees (loans, microcredit, equity/mezzanine, securitisation) RSFF Innovation financing SMEs/MidCaps, Banks, PE Investors (sub- investment grade) Loans (incl. Mezzanine), Funded Risk Sharing Facilities with Banks (Investors) Special Operations RSFF Investment Loans RDI financing MidCaps/Large Corporates/Public Sector Entities (investment grade) Guarantees Special Operations Bank Loans and Guarantees VC Funds Seed/Early Stage VC Funds Business Angels Entrepreneur, friends, family EIF EIB Seed / Start-Up Phase Emerging Growth Phase Development Phase Later Stage Counterparts 22/09/2011 European Investment Bank

Portfolio guarantees, equity EIB Group’s Tools to Support SMEs Two complementary sets of instruments High volume possible Risk profile commensurate with a debt instrument and relatively simple structures Customized to end recipient needs EIB focusing on demonstrable transfer of benefit to final beneficiary Loans & Guarantees EIB Portfolio guarantees, equity & quasi- equity Small volumes High risk profile and bespoke structures Customized to intermediary needs EIF impact focused on additional capacity in market EIF (EUR bn) 2005 2006 2007 2008 2009 2010 Signed Loans (EIB) 3.9 6.2 5.2 8.1 12.7 10.0 Portfolio guarantees (EIF) * 1.7 2.0 1.4 2.1 2.3 1.9 Equity funds (EIF) * 0.47 0.69 0.52 0.41 0.7 0.79 * Not taking into account leverage, which is about 6 to 8 times for VC and up to 20 times for CIP 22/09/2011 European Investment Bank

European Investment Bank Financing Models and Concepts Corporates Project Finance Public Sector Other The project is defined and EIB is financing up to 50% of the eligible project costs but on the balance sheet of the promoter, i.e. the ability of the company as a whole to service debt is the main driving factor in the process along with the proposed structure of the facility. EIB also finances corporates indirectly usually via third-party financing institutions (non-RSFF). The project is structured as a ring-fenced operation with limited or no recourse to the promoters. The quality of the assets and their ability to generate cash are vital for such type of operations. PF operations could be full-risk (RSFF), or guaranteed (banks, corporates, governments), secured, PPPs… Project may be supported indirectly via EIB facilities extended to Member States and local governments Infrastructure funds Advisory services Other initiatives 22/09/2011 European Investment Bank