1. Yannis Tsakiris EU Finance Days for SMEs European Investment Fund 20 January 2009 | Athens This presentation was prepared by EIF. The information included in this presentation is based on figures available for December 2008. Any estimates and projections contained herein involve significant elements of subjective judgment and analysis, which may or may not be correct.

2. EIF at a Glance Dual Objective of Meeting EU Policy Goals & Generating a Satisfactory Return on Equity EU specialised institution for SMEs, risk financing Venture Capital and Mezzanine (fund of funds) Structuring and Guaranteeing portfolios of SME and microfinance loans/leases Authorised Capital EUR 3bn EIB: 63.6% EU: 27.4 % Fin. institutions: 9 % Geographic Focus / Intermediaries EU 27, EFTA, Candidate Countries Distributing through Banks and Funds AAA rated Staffing, Culture and Values Leading-edge modern institution Adapting to changing market conditions High standards of compliance and integrity

3. Main Activities and Focus Investments in Private Equity, Venture Capital and Mezzanine Funds with SME focus Guarantee and Securitisation operations through financial intermediaries for SME lending Local market development and private resources mobilisation through local fund of funds (France, Spain, Portugal, Turkey etc) JEREMIE (SME access to finance) JASMINE (Microfinance) Technology Transfer Cleantech & Environmental Fund Investments

4. Under EIF Management at end of December 2008 9 / 42 Total signatures New signatures in 2007 New signatures in 2008 Vehicles VENTURE CAPITAL EUR 4.8bn * EUR 0.5bn * EUR 0.4bn * appr. 300 funds GUARANTEES EUR 13.0bn EUR 1.4bnEUR 2.1bn appr. 200 operations TOTAL EUR 17.8bn EUR 1.9bn EUR 2.5bn *Before capital repayments

5. Investing a Broad Range of Public and Private Resources To be committed to venture capital funds and guarantees in the EU and Candidate Countries… …and generate a substantial return on equity EUR 4bn Revolving EUR 1.1bn (CIP) Up to EUR 1bn BMWi - ERP DAHLIA EUR 965m At 31 Dec 2007 EUR 450m NEOTEC

6. Competitiveness & Innovation Framework Programme (CIP) Purpose Encourage the competitiveness of European enterprises Support innovation and entrepreneurship activities Provide better access to finance Promote the increased use of renewable energies and energy efficiency The European Commission has mandated the management of the CIP financial instruments to EIF CIP budget - total envelope for VC and Guarantees : EUR 1.1bn to be invested over a period 2007-2013

7. COUNTRIES COVERED BY CIP GIF 13 DEALS SIGNED for over EUR 144m* Competitiveness & Innovation Framework Programme (CIP) *as of 31/12/2008 Inventure Fund Ky (ex Holtron) Dritte SHS Technologie GmbH & Co. KG Pinova Fund I Fountain Healthcare Partners Fund I Albuquerque FCR Chalmers Innovation Fund Pentech Fund II UMIP-MTI TTA Fund 360 Capital One Baltcap Private Equity Fund Capricorn Cleantech Fund Serena Capital WHEB Ventures Private Equity Fund II

8. CERSA FDP CF FDP MF – KfW Siagi Growth – Siagi Transmission Slovene Enterprise Fund SOCAMA PESE SOCAMA PSTR UniCredit Bank Hungary ADIE – MC Microbank La Caixa COUNTRIES COVERED BY CIP GUARANTEES 12 AGREEMENTS SIGNED for over EUR 1,309m* Competitiveness & Innovation Framework Programme (CIP) *as of 31/12/2008

9. JEREMIE: Increasing the Deployment of Self-Sustaining Financial Instruments for SMEs 32 / 42 The Joint European Resources for Micro to Medium Enterprises Joint initiative of the EU (DG Regio & EIB Group) launched in October 2005 Joint also because it potentially combines resources from the EU, National Public Authorities, EIF, EIB and/or other financial institutions Uses European Regional Development Funds for enhancing SME access to finance through financial engineering instruments (venture capital, guarantees, debt) “Revolving” nature of financial instruments Creates leverage Encourages move away from grant dependency

10. JEREMIE – Current State of Play JEREMIE achievements: 7 mandates signed (EUR 700 m) + additional EUR 220m in the ST pipeline CountryDateAmount in EUR m GreeceJune 2007100 RomaniaFebruary 2007100 LatviaJuly 2008183 LithuaniaOctober 200880 Languedoc- Roussillon (F) October 200830 Campania (I)December 200890 SlovakiaDecember 2008121.2 Bulgaria To be signed in 2009 Cyprus To be signed in 2009

11. EUR 100m for Equity & Loan instruments to Greek SMEs Signature of the Funding Agreement between Hellenic Republic and EIF on the 26th June 07 Implementation phase to start early 2009 EIF office in Athens JEREMIE Greece 32 / 42

12. European Investment Fund Herodou Attikou 1, 106 74 Athens GREECE Tel: 210 68 24 518 Fax: 210 68 24 520 www.eif.org Contact details 32 / 42