1. The Dutch Challenge Presented by Mounib Hatab Country Head UAE for Gulf Eternit Industries and Future Pipe Industries

2. Established in 1984, headquartered in Dubai Global leader in the fiberglass pipe industry Eight manufacturing locations and a global network of sales offices Serving more than 300 customers in over 50 countries in the Water Distribution, Industrial, Municipal & Infrastructure, Desalination & Power, Oil & Gas, Petrochemical and Marine sectors 3500+ employees FPI at a Glance

3. Gulf Eternit Industries / Future Pipe Industries - a Dubai based company serving the Municipal Markets Wavin Repox BV – A subsidiary of Wavin BV which was owned by the Water Authority and Shell, serving the Industrial / Oil & Gas Markets FPI already licensed the GRE technology from Wavin Repox BV FPI acquired the Wavin Repox BV from Wavin BV in 1996 The Dutch Connection

4. We were licensing the know-how from Wavin Repox so when the company was put up for sale this was a good opportunity to acquire the technology, The technology complemented our existing product offering in the GCC This also gave FPI a foothold in Europe to further expand its reach into the industrial /oil & gas sectors. The Netherlands also has an attractive climate for multinationals to base their holding structures in Why Holland?

5. The plant has approx 200 employees, many of whom have been with the company for many years The factory is a niche player in the GRE market. The factory focuses on the production of specialized items such as our Fiberfloat and Fibermar products Principle market in EU with emphasis on Benelux Serves as base for sales & marketing in Europe FPI BV Hardenberg

6. Leadership styles: difference in leadership styles - Entrepreneurial vs more process driven decision making Market difference: growth focus in the GCC vs replacement oriented market in Europe Operating model: higher operating and fixed cost as well as higher efficiency vs lower labor costs in the GCC The Challenges

7. Technology / product development center split between Holland and Dubai – best of both worlds Focus on manufacturing of specialized items in Holland and commodity items in the GCC. Rationalizing our internal supply chain Products and market sectors served are highly complementary Created dialogue between the units to instill trust and share best practice within the Group as a whole The Synergies