National Empowerment Fund August 2010

Presenter  Mr. Milko Škoro  Investment Principal

Mission Statement “The National Empowerment Fund (NEF) is the catalyst of broad based Black Economic Empowerment in South Africa. We enable, develop, promote and implement innovative investment and transformation solutions to advance sustainable Black economic participation.”

Organisational Structure CHIEF OPERATING OFFICER STRATEGY & PLANNING MARKETING & COMMUNICATION SYSTEMS & IT EXECUTIVE: HUMAN RESOURCES HUMAN RESOURCES SUPPORT SERVICES Executive (member of Exco) Senior manager Manager EXECUTIVE: ASSET MANAGEMENT BEE RETAIL INVESTMENTS MANAGEMENT OF SAIs RETAIL PRODUCT ISSUES CHIEF FINANCIAL OFFICER FINANCE PROCUREMENT TREASURY CHIEF INVESTMENT OFFICER FUND MANAGEMENT IMBEWU FUND PRE-INVESTMENT BUSINESS SUPPORT LEGAL SERVICES UMNOTHO FUND POST-INVESTMENT BUSINESS SUPPORT LEGAL COUNSEL COMPLIANCE & RISK INTERNAL AUDIT SECRETARIAT BOARD OF TRUSTEES CHAIRMAN EXECUTIVE COMMITTEE MANAGER: OFFICE OF THE CEO AUDIT COMMITTEE RISK MANAGEMENT COMMITTEE HUMAN CAPITAL & REMUNERATION COMMITTEE BOARD INVESTMENT COMMITTEE CHIEF EXECUTIVE OFFICER CORE DIVISIONS

NEF Mandate KEY OBJECTIVES OF THE NEF:  Promote and support business ventures pioneered and run by black people;  Promote the understanding of equity ownership among black people;  Provide black people with direct and indirect opportunities to acquire share interests in State Owned and private business enterprises;  Encourage and promote investments, savings and meaningful economic participation among black people.

Ship Building Environment

Regulatory Environment

NEF’s Role  Funder to:  Ship Builders  Ship Owners  Ship Operators  Charter Parties  Long Term Funding ( 7 – 10 Years)  Understand the Maritime Markets nuances  Structure according to project needs  Structure according to ownership needs  Seek to promote a partnership model  Mitigate risk through smart structuring

What Do We Need?  Comprehensive Business Plan  Detailed Financial Models - Backed up with Contracts  Proven Expertise / Technical Partnerships  Operational Involvement  Off-take agreements  BB-BEE  Skills Transfer  Growth in Capacity

Thank You