1. April 2013 © European Bank for Reconstruction and Development 2010 | www.ebrd.com Working with the European Bank for Reconstruction and Development Rogier Wieffer, Adviser to the Board Office for the Netherlands, Mongolia, Macedonia and Armenia

2. 2 What is the EBRD? International financial institution, promotes transition to market economies in 34 countries from central Europe to central Asia In 2011, the Bank expanded its operations to include Egypt, Morocco, Tunisia, and Jordan (Southern and Eastern Mediterranean – SEMED region) Owned by 64 countries and two inter-governmental institutions Capital base of €30 billion* Cumulative commitments of €80.3bn Note: Unaudited as at 30 April 2013

3. 3 The EBRD and its objectives Your engaged partner Operates in “business time” Private sector focused Wide product, currency, tenor range Facilitates inward and cross border investments in the region Promotes policy dialogue with regards to investment climate business environment and policy matter AAA rating profitable, commercial focus To promote transition to market economies by investing mainly in the private sector To mobilise significant foreign direct investment To support privatisation, restructuring and better municipal services to improve people’s lives To encourage environmentally sound and sustainable development The EBRD is Objectives:

4. 4 EBRD’s objectives achieved through financing the private sector AAA/Aaa rated multilateral development bank Invested over €80.3 billion in more than 3,716 projects since 1991 As at end April 2013: – €1.4 billion invested in 72 projects – Private sector accounted for 69% share – Debt 85% & Equity 10% Note: Provisional data as at 30 April 2013 € billion

5. 5 Where we operate

6. 6 EBRD finances diverse range of enterprises Cumulative commitments €80.3bn Unaudited as at 30 April 2013

7. 7 2013 ABV by region Cumulative commitments €80.3bn

8. 8 EBRD Product Flexibility tailored to project needs Senior, subordinated, convertible LT (up to 10y or more) or ST revolving Floating/ Fixed rates Choice of currencies (€, US$, RUB etc.) Loans Common stock or preferred Minority position only (up to 35%) Mezzanine Other – guarantees – currency swaps Equity

9. 9 Geographic Expansion of the Bank’s Region of Operations The Board of the EBRD decided in 2011 to expand the Bank’s operations to Egypt, Morocco, Tunisia and Jordan. On 18 September 2012 the EBRD’s Board of Directors approved three projects in Jordan, Tunisia and Morocco. Investments in Egypt are expected to be submitted shortly. These projects are the first in a series of investments in the southern and eastern Mediterranean (SEMED), which are expected to be running at as much as €2.5 billion annually by 2015. Operational priorities in the SEMED region are: – support for the private sector with particular emphasis on SME’s; – developing non sovereign financing solutions for infrastructure including PPP structures; – to promote sustainable energy and energy efficiency initiatives; – to support and develop local capital markets. Temporary offices in Morocco, Egypt, Tunisia and Jordan are already in place.