2020 European Fund for Energy, Climate Change & Infrastructure

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1 Digiworld Introduction to Marguerite Fund 2020 European Fund for Energy, Climate Change & Infrastructure 2020 European Fund for Energy, Climate Change & Infrastructure 2020 European Fund for Energy, Climate Change & Infrastructure Laurent Chatelin November 2015

2 Mandate & Investors Mandate The Marguerite Fund is a long term equity fund targeting primarily greenfield infrastructure in EU 28. Advised by independent Luxembourg and Paris-based Marguerite Adviser. Investors The Marguerite Fund has total commitments of EUR 710m, with EUR 100m from each Core Sponsor, EUR 80m from the European Commission, and EUR 30m from other investors. Core Sponsors Other Investors European Commission 2

3 Long-Term Strategy Focused on Greenfield Projects in EU-28 GREENFIELD & BROWNFIELD FOCUS Ability to invest pre-construction or during construction Ability to acquire operating assets with significant new capex requirements or pipeline No immediate cash yield requirements Ability to invest in quasi-equity (mezzanine, sub debt, etc.) LONG TERM INVESTOR 10 year plus investment horizon INVESTMENT PARTNER No requirement to take control Preference of 50% or less shareholding: significant minority ACTIVE INVESTOR Assistance in deal structuring / debt raising Active role post investment (board representation) Marguerite is an attractive partner for industrial / strategic players and other long-term investors 3

4 Core Sectors of Investment Transport PPPs (TEN-T) Energy Infrastructure (PCI) Mature Renewable Energies Telecom Road Rail Inland waterway networks Seaports Airports Interconnection points Electricity & gas transportation, interconnection, and infrastructure (pipelines / high voltage transmission) Electricity & gas distribution Oil & gas storage Electricity / gas / oil production Carbon capture & storage Sustainable energy production Wind, solar, geothermal Biomass, biogas, hydro Waste-to-energy projects Energy distribution and systems for hybrid transport Clean transport infrastructure FTTH Network Broadband Network NGN Tower companies Data storage Diversified portfolio with balanced allocation of committed capital between sectors 4

5 Portfolio Summary Over EUR 300m committed to 10 projects in 8 countries amounting to a combined total project investment amount of EUR 4.7bn Project Country Sub-sector Total Project Investment (EURm est.) C-Power Belgium Offshore wind 1,300 Toul & Massangis France Solar PV 641 Autovia Arlanzon (A1) Spain Road 227 Aeolus Poland Onshore wind 193 Chirnogeni Romania Onshore wind 130 Butendiek Germany Offshore wind 1,300 Poznan PPP Poland Energy from Waste 217 Zagreb Airport Croatia Airport 375 N17 / N18 Ireland Road 330 TOTAL PORTFOLIO 4,713 5

6 Contact Information Laurent Chatelin Investment Director phone: mobile: The purpose of this presentation is to provide selected information about 2020 European Fund for Energy, Climate Change and Infrastructure (the Marguerite Fund ), an investment company with variable capital specialized investment fund (société d'investissement à capital variable fonds d'investissement spécialisé) formed as a public limited liability company (société anonyme) under the laws of the Grand Duchy of Luxembourg, with registered office at 5, Allée Scheffer, L-2520 Luxembourg, registered with the Luxembourg Trade and Companies Register under number B , and Marguerite Adviser S.A., a public limited liability company under the laws of Luxembourg with registered office at 1-3, boulevard de la Foire, L-1528 Luxembourg, registered with the Luxembourg Trade and Companies Register under number B ( Marguerite Adviser ). This document does not constitute, and under no circumstances should it be considered in whole or in part as, an offer, a solicitation, advice or a recommendation to purchase, subscribe for or sell any financial instruments. In particular, this document does not constitute and may not be construed to mean any offer of any shares in the Marguerite Fund or an invitation to apply to participate in the Marguerite Fund by any person in any jurisdiction. This document is confidential and may be neither communicated to any third party (save for external advisors to a legitimate recipient of this document provided that they are themselves subject to the same duty of confidentiality) nor copied in whole or in part without the prior written consent of the Marguerite Fund or Marguerite Adviser. 6