1. radil@tigerconsulting.euradil@tigerconsulting.eu +36-30-3008003 1

2. 2 8/2012 - Foundation of TIGER CONSULTING Kft 7/2003 - 7/2012Foundation and development of a regional bank in Hungary 8/2000 - 6/2003 Head of Department in an Austrian Bank; Restructuring of subsidiaries, general manager of subsidiaries 2/1996 - 7/2000 Project financing and real estate development for an Austrian Bank. Establishment and general manager of regional subsidiaries in CEE. 1/1995 - 1/1996 Head of project development CEE in Austrian construction group 8/1992 - 12/1994 Regional Manager of Austrian construction and real estate development group in Budapest, Prague and Bratislava Thomas Radil

3. Real Estate Background 3 § Know How from Austria 20 Years Experience in Hungary Selected Hungarian Partners Business Knowledge Legal Know How in Banking

4. Restructuring / optimization Controlling Acquisition / Sale Reporting & Presentation Konditionenüberprüfung 4 Financial planning Support in negotiations

5. radil@tigerconsulting.euradil@tigerconsulting.eu +36-30-3008003 5

6. 6 Main Characteristica Dominance of foreign investors Foreign currency lending Currency risks Short term refinancing Hungarian Financial Market:

7. 7 Dominance of foreign investors Direct Foreign InvestmentRefinancing of Finance Sector

8. 8 Refinancing of Financial Sector EURCHF Inflow

9. 9 Refinancing of Financial Sector EURCHF Interest Rate adventage Currency Risk HUF

10. 10 Refinancing of Financial Sector Since 2008 Changes on international markets Restrictions in Liquidity Long term financing vs. short time refinancing Currency risks

11. 11 Refinancing of Financial Sector Consequences on Hungarian market Reduction in capital inflow Capital outflow (Repatriation of Refinancing) Capital outflow (private investments) Exploding NPL (non performing loan) rates Deterioration of domestic consumption

12. 12 Hungarian Financial Market: Financing still available ! Corporates Production industry export oriented industry Foreign currency lending for foreign currency income

13. 13 Hungarian Financial Market: SME financing more selective Tourism higher interest margins higher equity requirements sensitivity on terms

14. 14 Hungarian Financial Market: Commercial Property financing based on secured income higher interest margins sensitivity on terms

15. ? 15 Hungarian Financial Market: Housing HUF based loan financing supply of rental appartments based on institutional investors subsidized loan financing

16. 16 Hungarian Financial Market: HUF Financing 3 year bonds5.22% 5 year bonds 5.77% 10 year bonds 6.44%

17. radil@tigerconsulting.euradil@tigerconsulting.eu +36-30-3008003 17