Rizwan H. Kanji. Matters

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1 Rizwan H. Kanji Partner Corporate, Finance and Investments Dubai: rkanji@kslaw.com Rizwan H. Kanji specializes in debt capital markets, finance and securitizations using both conventional and Islamic finance structures. As a partner in our Islamic Finance and Investment and our Capital Markets practices, Rizwan counsels financial institutions, multilateral development banks, sovereigns and corporates in a variety of highly structured transactions, particularly in the Middle East and Turkey. Active in the Middle East and Turkey for more than a decade, Rizwan frequently advises global investment banks, sovereign states and multinational regional corporations on high-profile transactions. He is a leading advisor on Middle Eastern capital markets, and considered to be one of the leading lawyers within Islamic finance. Rizwan has been consistently recognized as one of the leading experts for both conventional and Islamic finance. In its 2011 through 2016 editions, Chambers Global cited him for his technical skills and ability to structure conventional financing as well as Shari ah-compliant sukuk (an Islamic financial certificate), and for being pragmatic, commercial and deal-focused. Some of the landmark transactions he has advised on include the first sukuk out of Turkey in and the first syndicated Murabaha financing (an Islamic finance instrument) out of Russia. Rizwan also has advised on most of the international sukuk issuance out of Turkey. Rizwan advised the Islamic Development Bank on the establishment of the largest sukuk program in the world, the US$25 billion Trust Certificates Programme triple-listed on the London Stock Exchange, Bursa Malaysia and Nasdaq-Dubai. Matters EmiratesNBD, Rand Merchant Bank and MUFG Securities EMEA plc as joint lead managers, on the debut US$150,000,000 sukuk issuance by the Africa Finance Corporation, a multilateral development bank which finances infrastructure and other projects in its 14 member countries throughout the African continent. The transaction is the first sukuk issuance by an African supranational entity and is the first dollar sukuk issuance of 2017 globally. The sukuk was rated A3 by Moody s rating agency, making it among the highest rated sukuk issued by an African institution. Kuveyt Türk Katilim Bankasi A.S on its senior unsecured US$500 Certificates due 2021 listed on 1 1

2 the Irish Stock Exchange. The joint lead managers were Arab Banking Corporation B.S.C., Dubai Islamic Bank PJSC, EmiratesNBD Bank PJSC, KFH Capital Investments K.S.C.C, Noor Bank PJSC, QInvest LLC and Standard Chartered. Islamic Development Bank on the issuance of US$1.5 billion Trust Certificates, which were triplelisted on the London Stock Exchange, Nasdaq-Dubai and Bursa Malaysia. The dealers were Boubyan Bank, CIMB, Emirates NBD PJSC, Gulf International Bank, J.P. Morgan, Natixis and Standard Chartered Bank. Kuveyt Türk Katilim Bankasi A.S on its debut Subordinated Tier 2, Basel III-compliant US$350 Resettable Subordinated Trust Certificates due 2026 listed on the Irish Stock Exchange. The joint lead managers were Abu Dhabi Islamic Bank PJSC, Dubai Islamic Bank, Emirates NBD Capital Limited, HSBC Bank plc, KAMCO Investment Company, KFH Capital, Noor Bank and QInvest. Islamic Development Bank on the establishment of its US$25 billion Trust Certificate Programme, which was triple-listed on the London Stock Exchange, Nasdaq-Dubai and Bursa Malaysia. The dealers were CIMB, HSBC, National Bank of Abu Dhabi, Natixis and Standard Chartered Bank. To date, this is the largest sukuk program established in the world. EmiratesNBD Capital Limited, Al Hilal Bank PJSC and Saudi Hollandi Bank as joint lead managers in relation to US$50 million privately placed sukuk issued by Al Bayan Holding Group issued through a Cayman-incorporated special purpose vehicle. Societe Generale S.A. as sole arranger in a US$190 million, five-year Sharia'ah-compliant credit receivable synthetic securitization by Fawaz Abdulaziz AL Hokair & Co., the largest retail mall operator in the Kingdom of Saudi Arabia. The transaction is the first such transaction where credit card receivables generated at various point-of-sale terminals in various retail outlets in the Kingdom of Saudi Arabia were securitized in a Shari ah-compliant structure. This deal was awarded Structured Finance Deal of the Year, 2014, at the Islamic Finance News Awards Al Hilal Bank PJSC, Emirates NBD, Mashreqbank psc and Noor Bank PJSC as joint lead managers in relation to US$120 million privately placed sukuk due The deal was awarded "the Commodity Murabaha Deal of the Year 2014 at the Islamic Finance News Awards Taajeer Company for machinery, real estate and vehicle trading on the establishment of an SAR500 million Shari'ah-compliant program in respect of the securitization of Shari'ah-compliant car loan and equipment financing receivables. The sole arranger was NCB Capital Limited. Kuveyt Türk Katilim Bankasi A.S. on its US$500 million Senior Unsecured Certificates due 2019, listed on the Irish Stock Exchange. The joint lead managers were Citigroup Global Markets, Emirates NBD, HSBC and Standard Chartered Bank. Türkiye Finans Katilim Bankasi A.Ş. on its US$500 million Senior Unsecured Certificates due 2019, listed on the Irish Stock Exchange. The joint lead managers were HSBC, Emirates NBD, Citi Global Markets and QInvest. UBS, Abu Dhabi Commercial Bank PJSC and Emirates NBD Capital Investment Limited as joint lead managers in respect of a US$250 million Shari'ah -compliant Irish stock exchange listed residential-mortgage-backed securitization originated by a UAE-incorporated home financing company. Warba Bank KSC as mandated lead arranger for a KWD105 million privately placed exchangeable financing that allowed Shari ah-compliant debt to be exchanged for shares of a third-party company 2 2

3 listed on the Kuwait Stock Exchange. BNY Mellon Corporate Trustee Services Limited as delegate on the establishment by Alef PCC of its Trust Certificate Issuance Programme and debut drawdown of US$400,000 in Fund Linked Trust Certificates under the program. The sponsor and dealer was Société Générale. The Islamic Development Bank in relation to the issuance of US$750 million Trust Certificates dual-listed on the London Stock Exchange and Bursa Malaysia issued pursuant to its US$3.5 billion Trust Certificate Programme. The joint lead arrangers were BNP Paribas, HSBC and Standard Chartered Bank. Kuveyt Türk Katilim Bankasi A. Ş. in its issuance of US$350 million Trust Certificates listed on the London Stock Exchange. This is the first asset-backed sukuk from Turkey and the first sukuk issued pursuant to the new Turkish legislation issued through a Turkish Special Purpose Vehicle, KT Sukuk Varlik Kiralama A.S. The joint lead arrangers were HSBC, Standard Chartered Bank, Liquidity Management House, Abu Dhabi Islamic Bank and Commerzbank. This transaction was awarded the Turkey Deal of the Year at the Islamic Finance News Awards Société Générale in its role as sole manager in relation to a privately placed US$100 million Trust Certificates by a Bahrain-based Islamic bank. The Trust Certificates were issued through a Cayman Islands Incorporated special purpose vehicle. Kuveyt Türk Katilim Banksai A. Ş. on its debut issuance of US$100 million Trust Certificates listed on the London Stock Exchange. This was the first sukuk from Turkey and the first by a European bank issued through a Cayman Islands special purpose vehicle. The joint lead managers were Citibank N.A. and Liquidity Management House. This transaction was awarded the Deal of the Year and Sukuk Deal of the Year at the Islamic Finance News Awards. Advised the Kingdom of Bahrain in relation to its US$350 million sovereign Sukuk al-ijara listed on the London Stock Exchange, which was issued by CBB International Sukuk SPC. This was the first sovereign sukuk to be listed on the London Stock Exchange and was awarded Bahrain Deal of the Year, Credentials EDUCATION LL.M., Southampton University - UK LL.B., University of Leicester ADMISSIONS England and Wales Recognition Kuwait Deal of the Year 2015 Commodity Murabaha Deal of the Year 2014 Structured Finance Deal of the Year 3 3

4 2014 Europe Deal of the Year 2011 Turkey Deal of the Year 2011, Sukuk Deal of the Year Deal of the Year Most Innovative Deal "Highly esteemed for his experience on debt issuances, with particular mastery of Shari'acompliant structures." CHAMBERS GLOBAL, 2015 Good breadth of practice in sukuk and debt capital markets matters. CHAMBERS GLOBAL, 2015 Leads the debt capital markets practice. He is praised for his technical skills in Shari'ahcompliant debt. CHAMBERS GLOBAL He was flexible, open-minded and structured the documentation well. CLIENT QUOTE Insights CLIENT ALERT June 20, 2018 Private Over Public? An Emerging Markets Perspective NEWSLETTER August 20, 2018 Financial Services Focus 2nd Quarter May 31, 2018 Financial Services Focus 4 4

5 Events CONFERENCE September 18, 2018 The Dana Gas Dispute: Any Impact on the future of Islamic Finance? March 12, 2018 Africa Sukuk Workshop SPEAKING ENGAGEMENT May 24, 2018 Rizwan Kanji to Speak on Bloomberg Television Series "Bloomberg Daybreak: Middle East" News IN THE NEWS August 5, 2018 Source: Bloomberg/Gulf Times Rizwan Kanji quoted in an article about trends in selling bonds in the MENA market May 23, 2018 Source: Islamic Finance News Rizwan Kanji discusses Dana Gas' agreement with an ad hoc committee of Sukukholders, regarding an offer to restructure and refinance its disputed US$700 million Sukuk Mudarabah May 14, 2018 Source: Bloomberg Rizwan Kanji comments on Dana Gas, a United Arab Emirates-based energy company, reaching a deal with its key bondholders on restructuring $700 million of sukuk, avoiding protracted litigation 5 5