9-15 Sir William Newton Street Port Louis. Port Louis Sir William Newton Street Port Louis Sir William Newton Street Port Louis

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1 MCB Structured Solutions Ltd Public Offering of Global MUR50, Global MUR140, Global USD40 Notes and Global USD80 (the Notes ) Simplified prospectus dated February 16, 2015 This simplified prospectus provides a summary of the information set out in the Prospectus which has been registered with the FSC under the Securities Act 2005 and the securities (Public Offers) Rules 2007 and as such contains only key information in respect of the public offering of Notes being made by the Issuer. It must be clearly understood that the FSC takes no responsibility for the contents of the Prospectus and shall not be liable to any action in damages suffered as a result of any prospectus registered by the FSC. If prospective investors are in any doubt about the contents of this document they may consult an independent qualified person who may advise them accordingly. The Directors of the Issuer, whose names are set out in Section 2 of this Simplified Prospectus, accept responsibility for the information contained herein. To the best of the knowledge and belief of the Directors, who have taken all reasonable care to ensure that such is the case, the information provided in this document is in accordance with the facts and contains a fair summary of the key information set out in the Prospectus. The full Prospectus is available on request during business hours, free of charge, at the office of the Investment Dealer. 1. DIRECTORY Function Company Address Contact details Issuer MCB Structured Solutions Ltd 9-15 Sir William Newton Street Investment Dealer MCB Stockbrokers Ltd 9-15 Sir William Newton Street Corporate Secretary and Registrar Banker, Guarantor and Custodian MCB Registry & Securities Ltd The Mauritius Commercial Bank Ltd 9-15 Sir William Newton Street 9-15 Sir William Newton Street Auditors BDO & Co 10, Frère Félix de Valois St Financial Adviser MCB Investment Services Ltd 9-15 Sir William Newton Street : : mcbss@mcbcm.mu : : : mcbsb@mcbcm.mu : : : mcbrs@mcbcm.mu : : : secretary.management@mcb.mu : : : ceo@bdo.mu : : : mcbis@mcbcm.mu : 2. GOVERNANCE The members of the board of directors of the Issuer are as follows: Gilbert GNANY, Non-Executive Director Ronald LAM YAN FOON, Non-Executive Director 3. THE OFFERING The Notes being offered are 5-year investments, offering investors managed exposure, through the Reference Index, to the stock performance of pure-play infrastructure companies domiciled globally.

2 The following four versions of the Note are being offered: 1. Crescendo Global MUR50 ( Global MUR50 ) 2. Crescendo Global MUR140 ( Global MUR140 ) 3. Crescendo Global USD40 ( Global USD40 ) 4. Crescendo Global USD80 ( Global USD80 ) denominated in MUR and provides a guaranteed 1 return of 12.5% at maturity (the Guarantee ) plus 50% of the positive performance (if any) of the Reference Index calculated in USD and paid in MUR; denominated in MUR and provides 140% of the positive performance (if any) of the Reference Index calculated in USD and paid in MUR; denominated in USD and provides a guaranteed return of 5% at maturity plus 40% of the positive performance (if any) of the Reference Index calculated and paid in USD; and denominated in USD and provides 80% of the positive performance (if any) of the Reference Index calculated and paid in USD Principal Terms Securities Global USD40 Global USD80 Global MUR140 Global MUR50 Issuer MCB Structured Solutions Ltd Denomination Currency USD MUR Issue Price USD 100 MUR 1,000 Guaranteed Capital 100% of Initial Investment (in the respective denomination currency) (at maturity) Guaranteed Return (at maturity) ( GR ) Guarantor Use of Proceeds 5% in USD (AR 2 : 1.0%) None None 12.5% in MUR (AR: 2.4%) The Mauritius Commercial Bank Ltd Up to a maximum of 92% of the proceeds raised from the issue will be placed in deposit accounts with the MCB (see paragraph 3.4 below) whilst up to a maximum of 16% of the proceeds will be used to purchase warrants from the Counterparties which will provide exposure to the Reference Index (see paragraph 3.5 below). Offer Start Date March 10, 2015 Offer End Date April 15, 2015 Settlement Date on or about April 15, 2015 Strike Date April 23, 2015 Term Maturity Date Reference Index Participation to the Reference Index ( P ) Final Index Level Reference Index Performance ( R ) 5 years April 23, 2020 or if such date is not an Index Calculation Day then the following Index Calculation Day Dow Jones Brookfield Global Daily Risk Control 10% Index (Bloomberg: DJBGI10P) 40% 80% 140% 50% The arithmetic average of the levels of the Reference Index on or about: 23 April 2019, 23 July 2019, 23 October 2019, 23 January 2020 and 23 April 2020 The positive performance (if any) of the Reference Index between its level on Strike Date and the Final Index Level The positive performance (if any) of the Reference Index between its level on Strike Date and the Final Index Level and translated into MUR Total pay-out at maturity Initial Investment {100% + GR + (P R)} Minimum Subscription USD 5,000 MUR 150,000 Minimum Holding 50 notes 150 notes Close Period 1 year from Strike Date Early redemption frequency Quarterly after Close Period First Early Redemption Day The last Business Day of the calendar quarter following the Close Period Notice for redemption 10 Business Days prior to each Early Redemption Day Indicative Early Redemption Price To be published every quarter on 1 The use of the words guarantee or guarantor in this document refers to MCB s ordinary contractual obligation as a deposit taker to pay back the initial deposit in full together with any accrued interest thereon at the Maturity Date, as morefully described under paragraph 3.4. There is no third party guarantee which is provided by MCB in connection with the Notes. 2 Annualised return per annum

3 3.2. Amount of the Offering The Issuer expects to raise MUR 500,000,000 (the Expected Amount ) while the minimum amount targeted to be raised is MUR 250,000,000 (in a mix of MUR and USD) (the Minimum Targeted Amount ). The Board reserves its right: a) to issue Notes in excess of the Expected Amount; b) to close the offer at an earlier date should the Minimum Targeted amount be reached prior to the Offer End Date; c) not to process subscriptions received (without assigning any particular reasons therefor) in the event the Minimum Targeted Amount is not reached (for whatever reasons); or d) to close the offer at an earlier date and/or not to process subscriptions received (without assigning any particular reasons therefor) on the occurrence of events which are beyond the control of the Issuer Payout at Maturity Regardless of the performance of the Reference Index, investors are guaranteed, at maturity, to recover 100% of their Initial Investment (the Guaranteed Capital ) and any applicable guaranteed return (the Guaranteed Return ), with the guarantee being provided by MCB. In addition, investors will have 40%, 50%, 80% or 140% participation in the positive performance (if any) of the Reference Index (the Participation Rate ) depending on their chosen option and as such do not participate in any downturn in the Reference Index. The total payout to Noteholders at maturity is formulated as follows: Holders of Global USD40 and Global USD80: Holders of Global MUR50 and Global MUR140: Initial Investment [1 + Max (GR, GR + FIL RI s RI s Initial Investment [1 + Max (GR, GR + FIL RI s RI s P)] P Fx m Fx s )] Where FIL RIs GR P Fxm Fxs = The arithmetic average of the levels of the Reference Index on or about: 23 April 2019, 23 July 2019, 23 October 2019, 23 January 2020 and 23 April 2020 = The level of the Reference Index on Strike Date = The Guaranteed Return, or 0% if none specified = The Participation Rate = The bid USDMUR exchange rate (as published by MCB) ruling on or about Determination Date = The offer USDMUR exchange rate (as published by MCB) ruling on or about Settlement Date Payment (net of any bank charges) will be effected within 10 Business Days after Determination Date by electronic funds transfer to the relevant Noteholder The Guarantee INVESTORS SHALL BE AWARE THAT BY SUBSCRIBING TO THE NOTES THEY ARE ACCEPTING, IN RESPECT TO THE GUARANTEED AMOUNT, THE CREDIT RISK OF THE GUARANTOR (SEE PARAGRAPH 6 RISK FACTORS). The Guarantee is established through a structured deposit with the MCB. Such instrument provides at maturity, a return equal to at least the amount of the Initial Investment (plus the Guaranteed Return where applicable). The Notes and the structured deposit have the same maturity. The standing of the Guarantee is inextricably linked to, and is as good as, the credit risk of the Guarantor The Reference Index INVESTORS SHALL BE AWARE THAT BY SUBSCRIBING TO THE NOTES THEY ARE ACCEPTING, IN RESPECT OF ANY RETURN OR PAY-OUT FROM THE PERFORMANCE OF THE REFERENCE INDEX, A COUNTERPARTY RISK (SEE PARAGRAPH 6 RISK FACTORS). Global Global developments, knowingly or unknowingly, impact our day-to-day lives. Think of toll roads, rail, gas, electricity, water distribution, communication cables, hospitals, schools, etc. We all use at least one of these assets on a daily basis. Globally, infrastructure assets provide essential services that are necessary for populations and economies to function, prosper and grow. This is why investing in infrastructure assets has become popular in the recent years, the more so as such assets are also generally considered to be relatively lower-risk and inflation-protected, thus providing new sources of return and diversification of risk. Global can be divided into five general sectors: Transport e.g. toll roads, airports, seaport, rail Energy e.g. gas and electricity transmission, distribution and generation Water e.g. pipelines and treatment plants Communications e.g. broadcast, satellite and cables Social e.g. hospitals, schools, prisons Why Global? The main advantages of this asset class are as follows: Steady cash flows, strong dividend yield - assets are long-lived. Most companies have long-term regulatory contracts or concessions to operate the assets, which ensure a predictable return over time. As a result, infrastructure assets generate consistent, stable cash flow streams, usually with lower volatility than traditional asset classes. High barriers to entry - Due to significant economies of scale, infrastructure assets are often regulated in such a way that discourages competition. The high barriers to entry often result in a monopoly for existing owners and operators.

4 Inflation protection - Revenues from infrastructure assets are typically linked to inflation and are often supported by regulation. In certain instances, revenue increases linked to inflation are embedded in concession agreements, licenses and regulatory frameworks. In other cases, owners of infrastructure assets are able to pass inflation on to consumers via price increases, due to the essential nature of the assets and their inelastic demand. Consequently, the infrastructure asset class may provide investors with a degree of protection from the business and economic cycles as well as attractive income yields and inflation hedge. It is also generally considered to be an asset class poised for strong growth. As the global population continues to expand and standards of living around the world become higher, there is a vast demand for improved infrastructure. This demand includes the refurbishment and replacement of existing infrastructure worldwide and new infrastructure developments in emerging markets. Though financing public infrastructure has traditionally been the responsibility of the state, fiscally constrained governments are increasingly turning to the private sector to provide funding for new projects. As a result, the investment opportunities in this sector continues to grow. Accessing Global There are two ways to accessing the infrastructure asset class: i. Direct route by investing in private markets where investors own the companies that build or operate the infrastructure assets. The main benefit of investing through this route is that investors get direct exposure and all the benefits that come with owning the assets. However, the main drawbacks of this route is that private investments are usually highly regulated, heavily leveraged and very illiquid. ii. Indirect route by investing in publicly listed companies whose business is directly related to infrastructure assets. The main advantages of this route are: a. liquidity listed companies are traded on a stock market and are much more liquid to buy and sell b. market size the investment universe is much larger as compared to private investments. For example, the Dow Jones Brookfield Global Index market capitalisation was around USD 1.85 trillion as at 30 June c. Transparency listed companies have financial reporting requirements that are regulated by various stock exchanges, thus providing more comfort to investors. The Reference Index To provide investors access to the performance of global companies involved in the infrastructure sector, the Dow Jones Brookfield Global Daily Risk Control 10% Index is used as the Reference Index. The Reference Index tracks the performance of the Dow Jones Brookfield Global Index (Bloomberg: DJGBI) (the Parent Index ), which uses a pureplay approach by selecting only companies that obtain a majority (70% or higher) of their cash flows from owning or operating infrastructure assets, subject to a 10% risk control overlay built-in in the Reference Index to ensure an annualised volatility of about 10% is maintained over the life of the investment. This is achieved by adjusting accordingly the exposure of the Reference Index, subject to a maximum level of 150%, through leverage and deleverage based on predetermined rules. To ensure diversification of the portfolio, individual stock weights, country weights and industry weights are capped (but with slight deviations permitted) at 10%, 50% and 50% respectively. The basket comprises some 130 stocks (as at July 1, 2014) and is rebalanced on a quarterly basis in March, June, September and December. Moreover, only stocks with a minimum float-adjusted market capitalization of at least USD 500 million are included. The below table shows historical risk-return profile of the Parent Index against other infrastructure indices developed by other providers such as S&P, UBS, MSCI and Macquarie and against the S&P Global BMI (broad market index). Source: S&P Dowjones Indices LLC, UBS, MSCI, Macquarie Bloomberg. Data from June 2003 to June Index performance based on total return. The Parent Index has shown the highest returns with the lowest volatility over the past 10-, 7-, 5- and 3-year periods. Sector exposure Source: S&P Dowjones Indices LLC. Data calculated in USD as of end of December, 2014 Country allocation As most of the biggest infrastructure companies are listed on the US stock markets, about half of the portfolio is exposed to the US whilst the rest is fairly spanned over some 20 other countries.

5 Source: S&P Dowjones Indices LLC. Data calculated in USD as of end of December, 2014 Past performance of the strategy Source: Bloomberg. Data calculated in USD IMPORTANT The Reference Index seeks to replicate the performance of a hypothetical global basket of listed shares; however, the Reference Index does not actually invest in or hold any of those shares or instruments. An investor in any product linked to the performance (if any) of the Reference Index will have no rights whatsoever to any of the shares or other instruments underlying the Reference Index. The Reference Index is a mere statistical measure and is not an investment fund, pool or any other investment vehicle. The investment strategy tracked by the Reference Index is not guaranteed to be successful Disclaimer from Counterparties The Notes are not sponsored, endorsed, sold or promoted by the Counterparties. The Counterparties have not considered the legality or suitability of, or the accuracy or adequacy of descriptions and disclosures relating to, the Notes, nor make any representation or warranty, express or implied, to the investors or any member of the public regarding the Notes or the advisability of investing in the Notes, nor the ability of the Reference Index to track performance of any market or strategy or achieve a particular objective. It is for those taking exposure to the Notes to satisfy themselves of those matters and such persons should seek appropriate professional advice before making any investment. The Counterparties are not responsible for and do not have any obligation or liability in connection with the issuance, administration, marketing or trading of the Notes. The Counterparties have not participated in the determination of the timing of, prices of, or quantities of the Notes to be issued or in the determination or calculation of the equation by which the Notes are to be priced, sold, purchased, or redeemed. The Dow Jones Brookfield Global Daily Risk Control 10% Index is a product of S&P Dow Jones Indices LLC or its affiliates ( SPDJI ) and Brookfield Asset Management Redistribution and has been licensed for use by MCB Structured Solutions Ltd. Standard & Poor s and S&P are registered trademarks of Standard & Poor s Financial Services LLC ( S&P ); Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC ( Dow Jones ); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by MCB Structured Solutions Ltd. Brookfield are trademarks of the Brookfield Asset Management Redistribution and have been licensed for use by SPDJI and MCB Structured Solutions Ltd. Crescendo Global is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, or Brookfield Asset Management Redistribution and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the Dow Jones Brookfield Global Daily Risk Control 10% Index. Please further note that past performance is no indicator of future results Early Redemption INVESTORS SHOULD BE AWARE THAT THE NOTES ARE DESIGNED TO BE HELD TO MATURITY AND AS SUCH THE EARLY REDEMPTION PRICE MAY BE AT A SUBSTANTIAL DISCOUNT FROM THE NOMINAL AMOUNT OF THE NOTES. After the Close Period and subject to the Minimum Redemption Threshold and Minimum Holding, investors will have the possibility to redeem their investment on any Early Redemption Day at the prevailing Early Redemption Price but without any right to obtain payment of the full amount of their Initial Investment insofar as the Guarantee applies only if the Notes are held to maturity. Notwithstanding the foregoing, any Early Redemption Price will be at least equal to 80% of the nominal value of a Note. Any request for an Early Redemption (the Early Redemption Request ) made by an investor shall be in writing and by way of a redemption request form (the Early Redemption Request Form ) which can be either downloaded from the Issuer s website or obtained by contacting the Investment Dealer. Any Early Redemption Request Form shall be served and delivered at the address prescribed therein at least 10 Business Days prior to an Early Redemption Day for the Early Redemption Request to be processed at the Early Redemption Price prevailing on that Early Redemption Day. Indicative prices for early redemption will be regularly posted on the Issuer s website after the Close Period and payment of redemption proceeds (net of bank charges) will be effected within 10 Business Days of the Early Redemption Day by electronic funds transfer to the relevant Noteholder. Upon the redemption of a Note, the investor shall cease to be entitled to any rights in respect thereof and accordingly his name shall be removed from the Register with respect to such Note. Contract notes may be issued by (where same has been provided by the investor) within five Business Days after completion of the redemption Application Applicants wishing to apply for the Notes are required to complete the application form attached herewith. Applications shall be

6 forwarded to the address prescribed on the application form not later than the Offer End Date. The Issuer reserves the right, at its sole discretion, to refuse any application in whole or in part, or to accept some applications in full and others in part, or to abate all or any applications on a basis determined by it. Only applications meeting the Minimum Subscription shall be accepted by the Issuer The Notes will be issued in inscribed form. Legal ownership of the Notes will be reflected in book entries recorded by the Registrar on the Register which shall constitute the definitive evidence of the title of the Noteholder to the number of Notes shown against his name. No certificates will be issued in respect of the Notes. Contract notes may be issued by (where same has been provided by the investor) within 20 Business Days of the Strike Date Settlement Investors will be required to complete a bank transfer form and submit same along with their application form. The bank account specified on the bank transfer form will be debited on or about the application date for value on the Settlement Date (i.e. the subscriber will continue to earn interest (if applicable) on the amount between the application date and Settlement Date) by the nominal amount of the Notes subscribed for. Investors should ensure that their bank account is sufficiently funded to enable settlement of the Notes subscribed for. Failure to pay for the subscription amount will result in the application being rejected. 4. ESTIMATED EXPENSES The estimated amount of expenses associated with the offer of the Notes is 5% of the amount raised and shall be payable by the Issuer. 5. GOVERNING LAW The Notes will be governed by and construed in accordance with the Mauritian Law. 6. RISK FACTORS An investment in the Notes involves some degree of risk and should be made only after consulting with independent, qualified sources of investment, legal, tax, accounting and other advice. Substantial risks to which investors are exposed by investing in the Notes are listed below: Credit Risk: The Notes bear the credit risk of the Guarantor. Noteholders shall be aware that they may lose the whole of their Initial Investment (including any applicable Guaranteed Return) should the Guarantor be or become unable to make timely principal and interest payments or to otherwise honour its obligations in respect of the monies deposited with it by the Issuer through the structured deposit. Counterparty Risk: The Issuer may hedge its obligations in respect of the Notes in relation to the performance of the Reference Index by purchasing a structured product linked to the Reference Index from a counterparty. Any rights, entitlements or interests, present or future that an investor may have in respect of the Notes which derives from the performance of the Reference Index shall be subject to the default risk of such counterparties (whatever be the reasons). Noteholders shall be aware that if the Counterparties default or fail to honour their payment obligations towards the Issuer, the Issuer may not be able to pay the Noteholders in respect of such return, pay out or such other income pertaining or linked to the Reference Index. The Issuer endeavoured, as far as possible, to mitigate such counterparty risk through the use of reputable counterparties. Liquidity Risk: The Notes are designed to be held to maturity and as such the Early Redemption Price may be at a substantial discount from the nominal amount of the Notes. Exchange rate Risk: In relation to MUR-based investors, any return generated from the Reference Index may result in a lower or higher return in MUR as a result of fluctuations between the MUR and USD. Moreover, the Reference Index is calculated in USD but is constituted of securities that may be denominated in other major currencies and as such the performance of the Reference Index may be affected by movements between those currencies and the USD. Changes in laws or regulations: Legal and regulatory changes could occur that may adversely affect, in quantum, value or otherwise, any pay out or such other income that may be or become payable in respect of the Notes. Changes in taxation legislation: Any change in the tax status of the Issuer, the Counterparties, or in taxation legislation in Mauritius or such other jurisdiction that may affect, in quantum, value or otherwise, any pay out or such other income that may be or become payable in respect of the Notes. Investors are urged to consult their own tax advisers with respect to their particular tax situations and the tax effects of an investment in the Notes. Exchange controls: Government and monetary authorities may impose exchange controls that could adversely affect, in quantum, value or otherwise, any pay out or such other income that may be or become payable in respect of the Notes. Tracking risk: The actual performance of the Reference Index may be higher or lower than that of the Parent Index on account of the embedded volatility target of 10%. Reference Index risk: If certain events specified as Index Disruption Events occur, the Issuer (or any person/ agent appointed by it) will be entitled, in its absolute discretion, to take or cause to be taken a number of actions (as morefully explained in Paragraph 7 below). In certain extreme cases, the Issuer may redeem, prior to Maturity Date, all the Notes at the prevailing Early Redemption Price. Potential investors should contact an independent financial adviser if they are in any doubt about the suitability of an investment in the Notes, or if they are not confident that they fully understand the risks involved. 7. REALISATION OF AN INDEX DISRUPTION EVENT If at any time, an Index Disruption Event occurs, the Issuer (or any person/ agent appointed by it) will be entitled in its absolute discretion, to do or cause to be done any (or any combination) of the following: a) permanently cancel the Reference Index; b) replace the Reference Index with a successor index; c) Add to and/or remove any constituent of the Reference Index; d) such modifications and adjustments to any terms of the Notes as may be required in order to preserve the economic equivalent of the obligation of the Issuer, provided that the Noteholders shall be informed without undue delay of the relevant modifications and/ or adjustments; or (but not and) e) on giving a fourteen days written notice to the Noteholders, redeem all (but not less than all) of the Notes at the Early Redemption Price prevailing on that Early Redemption Day.

7 GLOSSARY OF TERMS Capitalised terms not otherwise defined hereinafter shall have the meaning ascribed to them in the Constitution or Prospectus. In this simplified prospectus the words in the first column of the following table shall bear the meanings set opposite them respectively in the second column, if not inconsistent with the subject or context: Term Act Agency Agreement Agent Auditors Board Business Day Close Period Constitution Corporate Secretary Counterparties Crescendo Global MUR50 Notes Crescendo Global MUR140 Notes Crescendo Global USD40 Notes Crescendo Global USD80 Notes Custodian Determination Date Directors Early Redemption Early Redemption Day Definition The Companies Act 2001 as amended The agency deed dated on or about the date hereof and made between the Issuer and the Agent as may be further supplemented and/ or amended and/ or restated from time to time the Noteholders representative appointed pursuant to the Agency Agreement The auditors of the Issuer for the time being The board of directors of the Issuer for the time being Any day (except Saturday, Sunday, Mauritian Public Holidays and such other days as the Board may determine) on which banks are open for business in Mauritius The period during which Notes shall not be open for redemption starting on Strike Date and ending one year thereafter The Constitution of the Issuer MCB Registry & Securities Ltd JPMorgan Chase Bank, N.A., J.P. Morgan Structured Products B.V. and/or any of its assigns, successors and affiliates The debt securities issued pursuant to the Prospectus and having the characteristics specified in paragraph 3 of this Simplified Prospectus The debt securities issued pursuant to the Prospectus and having the characteristics specified in paragraph 3 of this Simplified Prospectus The debt securities issued pursuant to the Prospectus and having the characteristics specified in paragraph 3 of this Simplified Prospectus The debt securities issued pursuant to this Prospectus and having the characteristics specified in paragraph 3 of this Simplified Prospectus MCB One (1) week after Maturity Date The persons appointed for the time being as directors of the Issuer A Redemption that occurs at any time prior to the Maturity Date but after the Close Period. Any day prior to the Maturity Date on which Notes are redeemed by the Issuer, such day Early Redemption Price FSC Guaranteed Amount Guaranteed Capital Guaranteed Return Guarantor Index Calculation Day Index Disruption Event Initial Investment being the last Business Day of every calendar quarter after the Close Period The price at which Notes will be redeemed prior to maturity The Financial Services Commission which is in charge of regulating financial services in Mauritius Collectively the Guaranteed Capital and any applicable Guaranteed Return Has the meaning ascribed to it in paragraph 3.3 Has the meaning ascribed to it in paragraph 3.3 MCB The date on which the value of the Reference Index is determined by the relevant Counterparty Any event which, in the opinion of the Issuer, whether directly or indirectly: a) materially disrupts (in whatever manner) the determination of, or impairs the accuracy of the Reference Index; b) has or may have a material impact on the integrity of the Reference Index or the ability of the Reference Index to achieve its stated objective; or c) would otherwise require any departure from the terms of the Reference Index contemplated herein namely in the management, maintenance, calculation or publication of the Reference Index. The following is a non-exhaustive list of Index Disruption Events: a) there is a material increase in the costs incurred by the relevant Counterparty in the maintenance, publication, calculation or determination of the Reference Index; b) an event (howsoever arisen) resulting in the breakdown in any means of communication which is utilised in the determination of the Reference Index where, as a consequence, the last reported value of the Reference Index should not be relied upon; c) any event (howsoever arisen) preventing the prompt or accurate determination of the Reference Index by the relevant Counterparty; d) any decision by the index provider (for any reason whatsoever) to cease creation, compilation and publication of the Reference Index; or e) change of law and hedging inability. In relation to each version of the Notes, the amount paid by a Noteholder in respect of the

8 Issuer Maturity Date Mauritius MCB Minimum Holding Minimum Redemption Threshold MUR Noteholder Notes or Crescendo Notes or Crescendo Global applicable Note subscribed for by such Noteholder MCB Structured Solutions Ltd April 15, 2020 or if such date is not an Index Calculation Day then the following Index Calculation Day The Republic of Mauritius The Mauritius Commercial Bank Ltd The minimum number of Notes to be held at all times by Noteholders and shall be in relation to: a) Global MUR50: 150 notes; b) Global MUR140: 150 notes; c) Global USD40: 50 notes; and d) Global USD80: 50 notes Redemptions, in relation to each version of the Notes, are subject to a minimum number of Notes as follows: a) Global MUR50: 150 notes; b) Global MUR140: 150 notes; c) Global USD40: 50 notes; and d) Global USD80: 50 notes The lawful currency of Mauritius The holder of a Note Offer End Date April 15, 2015 Offer Start Date March 10, 2015 Global MUR50, Global MUR140, Global USD40 and Global USD80 taken collectively Participation Rate Has the meaning ascribed to it in paragraph 3.3 Prospectus Global MUR50 Global MUR140 Global USD40 Global USD80 Reference Index Register Settlement Date Simplified Prospectus Strike Date April 23, 2015 USD The prospectus which has been registered with the FSC under the Securities Act 2005 and the securities (Public Offers) Rules 2007 Refers to Crescendo Global MUR50 Notes Refers to Crescendo Global MUR140 Notes Refers to Crescendo Global USD40 Notes Refers to Crescendo Global USD80 Notes Dow Jones Brookfield Global Daily Risk Control 10% Index (Bloomberg: DJBGI10P) The register of Noteholders to be kept pursuant to the Act The date on which the proceeds of the subscription to the Notes (which has been approved by the Issuer) is paid for. Such date being on or about April 15, 2015 The present document and any amendments thereto The lawful currency of the United States of America