DEG: We finance opportunities. DEG Deutsche Investitions- und Entwicklungsgesellschaft mbh. 18 July 2013, ZENIT GmbH

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1 DEG: We finance opportunities. DEG Deutsche Investitions- und Entwicklungsgesellschaft mbh Financing of Private Sector Projects in Africa 18 July 2013, ZENIT GmbH

2 A bank with a wide range of responsibilities DEG, a subsidiary of KfW Domestic Promotion International Financing We promote Germany We ensure internationalisation We promote development Business area Business area Business area KfW IPEX-Bank Business area KfW Mittelstandsbank Privatkundenbank Kommunalbank Entwicklungsbank Promotion SMEs, business founders, start-ups Promotion construction of new housing and modernisation as well as education Financing municipal infrastructure projects and global loans Germany agency business for Federal Government International project and export finance Developing and emerging-market countries: Financial cooperation DEG Developing and emerging-market countries: Private sector promotion Promotion of environmental and climate protection Company presentation / Cologne / 03/07/2013 2

0 billion DEG is a partner for companies investing in emerging markets and developing countries.

3 DEG at a glance Facts and Figures Established 1962 Employees 480 Head office Cologne Shareholder KfW Frankfurt Equity EUR 1.8 billion Balance sheet total EUR 4.7 billion New business EUR 1.3 billion Portfolio EUR 6.0 billion DEG is a partner for companies investing in emerging markets and developing countries. For more than 50 years, we have been successfully promoting people and markets on the spot. Company presentation / Cologne / 03/07/2013 3

Our Commitment for your goals DEG's range of services Tailor-made

reliable partner for opening up new markets Individual support

Long-term cooperation and shared risks Special programmes

promoted entrepreneurial initiative for more than 50 years,

4 Our Commitment for your goals DEG's range of services Tailor-made finance for investments in developing countries Experienced and reliable partner for opening up new markets Individual support for SMEs Advice right from planning to local implementation Long-term cooperation and shared risks Special programmes covering accompanying measures and pilot projects DEG has promoted entrepreneurial initiative for more than 50 years, providing companies with long-term investment equity. Company presentation / Cologne / 03/07/2013 4

3bn Total volume of commitments 1,328 of

and mezzanine finance 506 Strategic goals

5 New Business 2012 Successful financial year with financial commitments of EUR 1.3bn Total volume of commitments 1,328 of which EUR million Equity participations and mezzanine finance 506 Strategic goals Small and medium-sized enterprises German corporates Africa Climate protection 182 Company presentation / Cologne / 03/07/2013 5

6 New Business 2012 Financings by region Europe/Caucasus: EUR 205m (15 %) MENA-Region: EUR 31m (2%) Asien: EUR 388m (29 %) Latin America and the Caribbean: EUR 497m (37 %) Sub-Saharan Africa: EUR 204m (15 %) Supraregional: EUR 3m (0.2 %) Company presentation / Cologne / 03/07/2013 6

7 New Business 2012 Financings by sector Financial sector Manufacturing industry Infrastructure Agribusiness and food industry Services Commitments in EUR million Company presentation / Cologne / 03/07/2013 7

8 DEG worldwide Our work on-site: DEG representative offices and portfolio Moskow Cologne Europe EUR 1.29bn Istanbul Beijing Mexico City Latin America EUR 1.62bn Accra Africa EUR 1.11bn Nairobi New Delhi Bangkok Singapore Asia EUR 1.85bn Lima Jakarta São Paulo Johannesburg Supraregional EUR 0.09bn Portfolio, as of: Our customers benefit from our network and tailor-made advisory services in fourteen locations around the globe. Company presentation / Cologne / 03/07/2013 8

We create opportunities for people and markets

Development effects new business 2012 435,000 new

Successful private companies are important drivers

DEG's investments benefit the co-financed

9 We create opportunities for people and markets Developmental effects of DEG's investments Development effects new business ,000 new and secured jobs EUR 827m government revenues by tax payments (per year) EUR 4.1bn net foreign exchange income (per year) Successful private companies are important drivers for economic development. DEG's investments benefit the co-financed companies, people and markets. Training and development Incr reased demand an nd consupmtion Company presentation / Cologne / 03/07/2013 9

10 Portfolio Africa: a continent of opportunities DEG commitment: EUR 1.11bn Investment countries 27 Companies 123 The top three countries: South Africa, Kenya, Egypt Poinsettias from Uganda In Uganda, Wagagai cultivates seedlings for pot plants and flowers. For years, DEG has been a reliable financial partner to Wagagai, which even operates its own health care centre. Company presentation / Cologne / 03/07/

11 DEG s commitment in Africa Country Million EUR Africa supraregional South Africa Kenya 84.9 Egypt 66.7 Ghana 56.4 Uganda 47.3 Nigeria 40.6 Cameroon 33.7 Côte d'ivoire 26.9 Togo 25.0 Ethiopia 24.9 Other african countries Result 1,047.2 Company presentation / Cologne /

12 Examples of past project financing deals in Africa Country Sector Product Africa supraregional Rail traffic Equity Africa supraregional Production of coffee and cocoa Debt Egypt Transport holding Equity Kenya Rose-growing Debt South Africa Wind park Equity Namibia Financial service provider Debt South Africa Cultivation of grain Guarantee Ethiopia Brewery Equity Ghana Mortages Debt Company presentation / Cologne /

13 Examples of current portfolio/financing deals in Cameroon Sector Agriculture Small-holder Agriculture Financial Services Electricity Pharmaceuticals Product Guarantee Guarantee Subordinated Loan Senior Loan Guarantee Company presentation / Cologne /

14 Harnessing opportunities in future markets: Overview of DEG's products Financings Special programmes Long-term loans Guarantees Mezzanine finance Equity capital developpp Feasibility studies Accompanying measures Climate partnerships Our finance is tailor-made, long-term and reliable. It facilitates entrepreneurial investments in promising markets. With our special programmes we additionally support developmentally relevant measures. Company presentation / Cologne / 03/07/

15 Scope of DEG financings Loans with local security Loans Subordinated loans Loans with partial guarantees Guaranteed loans Hedged equity participation Partially hedged equity participation Risk participation Equity Participations Risks assumed by DEG Company presentation / Cologne /

16 Financial instruments Long-term loans Currency: EUR or USD, in exceptional cases in local currencies Term: usually between four and ten years Period of grace: depending on cash-flow Interest rate: fixed or variable, market-oriented according to project and country risks Collateral security: usually security as fixed assets in the country of investment, project-specific arrangements Amount: up to 25 million; larger volumes through cooperation with EDFI Company presentation / Cologne /

17 Financial instruments Equity capital Equity participation in the project company Minority stake, usually over a limited period Variable arrangement of the risk components In certain cases, voting rights and seat on the board Clearly defined exit strategies Company presentation / Cologne /

18 Financial instruments Mezzanine finance Financing combining elements of equity and debt: Project-specified arrangements Subordination Conversions options Risk-oriented yield Company presentation / Cologne /

19 Financial instruments Guarantees Mobilisation of long-term loans and bonds in local currency Reduced exchange-rate risk via loan repayement in local currency Partial guarantee desirable (risk sharing with the local bank and/or bond creditor) Company presentation / Cologne /

20 Financing criteria Qualified management Credit standing Proven track record Corporate Governance Environmental and social standards Development effects Sound business plan Investment plan Market analysis Due-diligence study Expected return Financing shares of owner and colenders Company presentation / Cologne /

21 Representative offices of DEG in Africa Ghana Andreas Voss Regional Director West Africa Volta Street No. 7 Airport Residential Area P.O. Box 9698 K.I.A. ACCRA Phone: Fax: Andreas.Voss@deginvest.de Kenya Eric Kaleja Regional Director East Africa Riverside Drive P.O. Box NAIROBI Phone: Fax: Eric.Kaleja@deginvest.de South Africa Michael Fischer Regional Director Southern Africa Regent Place, 2 nd Floor Cradock Ave, Rosebank 2196 P.O. Box 2402, Saxonworld 2132 Phone: Fax: Michael.Fischer@deginvest.de Company presentation / Cologne /

Your contact Picture Africa Karl Weinfurtner Director Africa DEG Deutsche Investitions- und Entwicklungsgesellschaft mbh Kämmergasse 22 50676 Cologne Phone +49 221 4986-1368 Fax +49 221 4986-1582

22 Your contact Picture Africa Karl Weinfurtner Director Africa DEG Deutsche Investitions- und Entwicklungsgesellschaft mbh Kämmergasse Cologne Phone Fax Picture Department Annette Ewald Investment Manager Africa / Responsible for Central Africa DEG Deutsche Investitions- und Entwicklungsgesellschaft mbh Kämmergasse Cologne Phone Fax annette.ewald@deginvest.de Company presentation / Cologne / 03/07/

DEG: We finance opportunities

DEG: We finance opportunities DEG Deutsche Investitions- und Entwicklungsgesellschaft mbh Products and Services Dr. Jörg Seyfart 01 February 2017 DEG at a glance Facts and figures Established 1962 Employees