EDC COMPANY PRESENTATION JANUARY 2015

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1 EDC COMPANY PRESENTATION JANUARY 05

3 DISCLAIMER This presentation contains certain forward looking statements. These forward looking statements include words or phrases such as EDC or its management believes, expects, anticipates, intends, plans, foresees, or other words or phrases of similar import. Similarly, statements that describe EDC s objectives, plans or goals also are forward-looking statements. All such forward looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those contemplated by the relevant forward-looking statement. Such forward looking statements are made based on management s current expectations or beliefs as well as assumptions made by, and information currently available to, management. EDC does not make expressed or implied representations or warranties as to the accuracy and completeness of the information contained herein and shall not accept any responsibility or liability (including any third party liability) for any loss or damage, whether or not arising from any error or omission in compiling such information or as a result of any party s reliance or use of such information. The information and opinions in this presentation are subject to change without notice. This presentation does not constitute a prospectus or other offering memorandum in whole or in part. Information contained in this presentation is a summary only and is prepared for discussion purposes and is not a complete record of the discussions. This presentation shall not constitute an offer to sell or the solicitation of an offer to buy any security. There shall be no sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification under securities laws of such state or jurisdiction. By receiving this presentation, each investor is deemed to represent that it is a sophisticated investor and possesses sufficient investment expertise to understand the risks involved. Prospective investors should undertake their own assessment with regard to their investment and they should obtain independent advice on any such investment s suitability, inherent risks and merits and any tax, legal and accounting implications which it may have for them.

EDC MANAGEMENT TEAM - PHILIPPINE CORPORATE DAY

AVANTE Vice President for Corporate Finance and

5 EDC MANAGEMENT TEAM - PHILIPPINE CORPORATE DAY TOKYO 05 RICHARD B. TANTOCO President and Chief Operating Officer ERWIN O. AVANTE Vice President for Corporate Finance and Compliance Officer ERUDITO S. RECIO Investor Relations and Corporate Information Officer 5 Power Industry Overview

TOP REASONS FOR INVESTING IN EDC -- A GLOBAL DIVERSIFIED RENEWABLE POWER COMPANY of light bulbs EDC accounts for 9% of the

long-term contract agreements 5 Concessions acquired in Chile & Peru Geothermal is % of Installed capacity YTD 3Q 4 Highlights

billion 0 Wind concessions acquired with ~543 MW capacity Domaine Expertise Contract-based Cash Flows Track Record of Growth

globally 64% Revenue derived from contract tenors of greater than 6 years YEAR 03 Concession agreements start expiring 00%

ITH Feed-in-Tariff (FIT) Geothermal provides 3% of electricity production in the Philippines Managing Financial Risks Interest rate

7 TOP REASONS FOR INVESTING IN EDC -- A GLOBAL DIVERSIFIED RENEWABLE POWER COMPANY of light bulbs EDC accounts for 9% of the Philippine s electricity production Into geothermal, hydro & wind and now diversifying into solar energy 9% Revenue derived from long-term contract agreements 5 Concessions acquired in Chile & Peru Geothermal is % of Installed capacity YTD 3Q 4 Highlights Revenues Php3.0 billon RNI Php8.0 billion EBITDA (TTM) Php7. billion 0 Wind concessions acquired with ~543 MW capacity Domaine Expertise Contract-based Cash Flows Track Record of Growth Favorable Industry Dynamics Strong Credit & Investment Profile Robust Growth Largest vertically integrated geothermal company globally 64% Revenue derived from contract tenors of greater than 6 years YEAR 03 Concession agreements start expiring 00% Successfully acquired power plants inside its geothermal concessions RE Act of 008 Provides regulatory support 0% Income Tax 7-year ITH Feed-in-Tariff (FIT) Geothermal provides 3% of electricity production in the Philippines Managing Financial Risks Interest rate on 8% of loans are fixed 44% of revenues are US$ indexed 4.9 yrs. loan life 6.6% Interest cost Domestic Expansion Install ~80MW of geothermal capacity Overseas Expansion Drill wells in Mariposa, Chile by 05 7 Key Investment Highlights

Domaine Expertise EDC IS THE LARGEST VERTICALLY INTEGRATED GEOTHERMAL COMPANY GLOBALLY TOP 5 GEOTHERMAL COMPANIES Plant 50.0MW Burgos 4.

0MW Bacman I 3 Type Manufacturer Wind Vestas Solar Juwi Hydro Andritz Hydro Toshiba COMPANY Geothermal Toshiba/Alstom 0.

0MW Upper Mahiao Geothermal GE/Ormat/Kato 3.5MW Malitbog Geothermal Fuji 80.0MW Mahanagdong Geothermal Toshiba 50.

0MW Mindanao II Geothermal Mitsubishi 3 AT A GLANCE 8 Key Investment Highlights,59,59 Comision Federal de Electricidad 958 958 3 Enel

Ruggero, 00: Geothermal Power Generation in the World 005-00 Update Report Note: * Not included is the 44 MW operated by the Indonesian

8 Domaine Expertise EDC IS THE LARGEST VERTICALLY INTEGRATED GEOTHERMAL COMPANY GLOBALLY TOP 5 GEOTHERMAL COMPANIES Plant 50.0MW Burgos 4.0MW Burgos* 0.0MW Pantabangan.0MW Masiway 0.0MW Bacman I 3 Type Manufacturer Wind Vestas Solar Juwi Hydro Andritz Hydro Toshiba COMPANY Geothermal Toshiba/Alstom 0.0MW Bacman II Geothermal Mitsubishi.5MW Tongonan Geothermal Mitsubishi.5MW Palinpinon I Geothermal Fuji 5.0MW Upper Mahiao Geothermal GE/Ormat/Kato 3.5MW Malitbog Geothermal Fuji 80.0MW Mahanagdong Geothermal Toshiba 50.9MW Optimization Geothermal Various 49.4MW Nasulo Geothermal Fuji 3 5.0MW Mindanao I Geothermal Mitsubishi 54.0MW Mindanao II Geothermal Mitsubishi 3 AT A GLANCE 8 Key Investment Highlights,59,59 Comision Federal de Electricidad Enel Green Power Chevron 5 Ormat,39 689,44 MW,59MWGeothermal 50MWWind 3MWHydro 4MWSolar (underdevelopment) 887 * 749 Source: Bertani, Ruggero, 00: Geothermal Power Generation in the World Update Report Note: * Not included is the 44 MW operated by the Indonesian Government through PLN 3 Note: * under development **0 MW Nasuji Power Plant placed on preservation EDC EDC 60.0MW Palinpinon II** Geothermal Fuji CAPACITY (in MW) STEAM PLANT Wind Geothermal (EDC Subsidiary) Hydro Geothermal (Integrated) Solar % share 7% of InstalledCapacity 9% of ElectricityProduced Offices Philippines Chile Indonesia Peru

GEOTHERMAL IS NOT NEW TO JAPAN Domaine Expertise Operated by Power Plants MW Year Tohoku Electric Power Co. Sumikawa 50.00 995 Tohoku Electric Power Co. Matsukawa 3.50 966 Tohoku Electric Power Co.

9 GEOTHERMAL IS NOT NEW TO JAPAN Domaine Expertise Operated by Power Plants MW Year Tohoku Electric Power Co. Sumikawa Tohoku Electric Power Co. Matsukawa Tohoku Electric Power Co. Kakkonda & / 995 Tohoku Electric Power Co. Uenotai Tohoku Electric Power Co. Yanaizu-Nishiyama Tohoku Electric Power Co. Hachijo-jima Kyushu Electric Power Co. Takigami Kyushu Electric Power Co. Otake Kyushu Electric Power Co. Hatchobaru &, binary /990/006 Kyushu Electric Power Co. Ogiri Kyushu Electric Power Co. Yamagawa Hokkaido Electric Power Co. Mori Mitsubishi Materials Corp. Onuma J Power Onikobe Suginoi Hotel Suginoi Kojyu Kanko Hotel Kuju Hirose Trading Co., Inc. Takenoyu Daiwabo Kanko Co., Inc. Kirishima-kokuksai TOTAL * Stopped/Closed operations Source: The Geothermal Research Society of Japan and Global Energy Observatory With power plants in 8 geothermal sites, Japan s total installed geothermal capacity is ~537 MW, i.e. representing ~0.3% of total country electricity production Source: The Geothermal Research Society of Japan 9 Key Investment Highlights

EDC GENERATES STRONG AND ROBUST CASHFLOWS AT BOTH PARENT AND SUBSIDIARY LEVELS Lopez Group IFC GIC Public E: 50.8 % V: 50.

4 MW Unified Leyte Power Project 06.0 MW Mindanao Power Project 49.

04 EGC 7,94 48% EGC 7,39 75% FGHPC,465 6%,98 FGHPC,084 % Contract-based Cash Flows EDC Parent (3) 6,646 44% EBITDA () as of Sept.

(BGI) 0.0 MW Bac-Man I 0.0 MW Bac-Man II 00% EDC Burgos Wind Power Corp. (EBWPC) 50.

10 EDC GENERATES STRONG AND ROBUST CASHFLOWS AT BOTH PARENT AND SUBSIDIARY LEVELS Lopez Group IFC GIC Public E: 50.8 % V: 50.59% 00% EDC Geothermal Corporation (EGC) () E:.69 % V:. % E: 4.99 % V: 3.33 % E: 43.4 % V: % MW Power Plants MW Unified Leyte Power Project 06.0 MW Mindanao Power Project 49.4 MW Nasulo Power Project 60% First Gen Hydro Power Corporation (FGHPC) 00% EDC Wind Energy Holdings Inc. 00% EDC Hong Kong Limited Revenues () as of Sept. 04 EGC 7,94 48% EGC 7,39 75% FGHPC,465 6%,98 FGHPC,084 % Contract-based Cash Flows EDC Parent (3) 6,646 44% EBITDA () as of Sept. 04 4,75 EDC Parent (3) 5,80 59% 00% Green Core Geothermal Inc. (GCGI) 7.5 MW Palinpinon ().5 MW Tongonan 0.0 MW Pantabangan.0 MW Masiway Bac-Man Geothermal Inc. (BGI) 0.0 MW Bac-Man I 0.0 MW Bac-Man II 00% EDC Burgos Wind Power Corp. (EBWPC) 50.0 MW Burgos (Under Development) 00% 95/00% International Expansion Chile Peru Indonesia Net Income () as of Sept. 04 EGC 6,640 63% FGHPC 64 6% 0,544 EDC Parent (3) 3,90 3% () Formerly First Luzon Geothermal Energy Corporation (FLGEC) () 0 MW Nasuji Power Plant to be placed in preservation () All figures in PHP millions as of Sept. 30, 04 (3) EDC Parent figures include the Company s other subsidiaries 0 Key Investment Highlights

ELECTRICITY CONCESSION LIMITED EPOSURE TO VOLATILE SPOT MARKET Contract-based Cash Flows TERM STRUCTURE OF CONTRACTS () LONG-TERM CONTRACTUAL AGREEMENTS In PHP Millions

Agreements (commercial) 0 0/4 3-5 YRS 7% SPOT - YRS 3-5 YRS >6 YRS WESM 8% - - - NGCP - 3% - - DU - 8% 7% 0% NPC - - - 44% 03 year concession agreements start expiring ()

11 ELECTRICITY CONCESSION LIMITED EPOSURE TO VOLATILE SPOT MARKET Contract-based Cash Flows TERM STRUCTURE OF CONTRACTS () LONG-TERM CONTRACTUAL AGREEMENTS In PHP Millions Geothermal Renewable Energy Service Contract 03 SPOT 8% >6 YRS 64% NPC, 0,,983 DU, 0,370 WESM,,909 NGCP, YRS % Power Purchase Agreements (sovereign) Power Supply Agreements (commercial) 0 0/4 3-5 YRS 7% SPOT - YRS 3-5 YRS >6 YRS WESM 8% NGCP - 3% - - DU - 8% 7% 0% NPC % 03 year concession agreements start expiring () Consolidated revenues as of Sept. 30, 04 9% revenue from long-term contracts 64% revenue from contract tenors of >6 yrs 44% expanded revenue base from non-npc clients Key Investment Highlights

SIGNIFICANT PORTFOLIO EPANSION SINCE PRIVATIZATION Track Record of Growth 976-005 STEAMFIELD OPERATOR 006 007 008 009 00 0 0 STEAMFIELD AND POWER PLANT OPERATOR 03 04 Limited to steam field

0 MW Palinpinon & Tongonan (+) 50.0 MW Bac-Man I & II (-) 49.4 MW N. Negros (-) 0.0 MW Botong Acquired geothermal concessions overseas (+) 49.4 MW Nasulo (-) 0.0 MW Nasuji (+) 50.

12 SIGNIFICANT PORTFOLIO EPANSION SINCE PRIVATIZATION Track Record of Growth STEAMFIELD OPERATOR STEAMFIELD AND POWER PLANT OPERATOR Limited to steam field operations (+) 5.0 MW Upper Mahiao (+) 49.4 MW N. Negros (+) MW Mahanagdong, Malitbog, and Optimization (+) 3.0 MW Pantabangan Masiway (+) 06.0 MW Mindanao I & II (+) MW Palinpinon & Tongonan (+) 50.0 MW Bac-Man I & II (-) 49.4 MW N. Negros (-) 0.0 MW Botong Acquired geothermal concessions overseas (+) 49.4 MW Nasulo (-) 0.0 MW Nasuji (+) 50.0 MW Burgos 9,90* (CAGR) Revenues 5.% EBITDA 7.% Net Income 7.% 9,007 0,34 8,768 7,85* 9,7* current (MW) (69) cum. (MW) ,8,33,6,6,6,44 *Bloomberg estimates Key Investment Highlights

DELIVERING SUPERIOR FINANCIAL AND OPERATING RESULTS TO STAKEHOLDERS Strong

30,000 4,000 4,55 8,369 5,656 90% of FY 03 9,783,98 9,90,000 9,000 9,895 7,458

B forgone steam revenues resulting from EDC s acquisition of the Bacman power

13 DELIVERING SUPERIOR FINANCIAL AND OPERATING RESULTS TO STAKEHOLDERS Strong Credit & Investment Profile CONSOLIDATED REVENUES RECURRING NET INCOME 36,000 30,000 4,000 4,55 8,369 5,656 90% of FY 03 9,783,98 9,90,000 9,000 9,895 7,458 () 07% of FY 03 7,980 9,7 8,000 6,000 5,45 () 6,400,000 6,000 3, ) P. B forgone steam revenues resulting from EDC s acquisition of the Bacman power plants ) P.7 B lower revenues mainly from ancillary services 3 Key Investment Highlights

EDC SUCCESSFULLY DELIVERED ON ITS 04 STRATEGIC OBJECTIVES Price 9.00 8.50 8.00 7.50 7.00 6.50 6.00 5.50 5.00 4.50 5 th Best Performing (PSEi) 04 High : 8.47 04 Low : 5. 03 year-end : 5.

14 EDC SUCCESSFULLY DELIVERED ON ITS 04 STRATEGIC OBJECTIVES Price th Best Performing (PSEi) 04 High : Low : year-end : year-end : 8.0 % Change : 53.85% Bloomberg 05 EPS (est.) EPS (est.) Growth Projects Price OUTPUT REVENUES 38 GWH Php.0 B 49.4 MW Nasulo plant starts commissioning runs April 04 OUTPUT REVENUES 968 GWH Php4.8 B 30.0 MW Bacman plants have returned to service OUTPUT REVENUES 36 GWH Php.8 B 50.0 MW Burgos wind starts commissioning Nov. 5, 04 EBITDA CONTRIBUTION OF GROWTH PROJECTS WILL DRIVE ROBUST 05 FINANCIAL RESULTS 4 Key Investment Highlights

feed-in tariff regime Energy Development Corporation Achieving financial close indicates growing confidence and an increasingly

15 BURGOS WIND FARM WINS GLOBAL AWARD Growth Projects Asia-Pacific Renewables Deal of the Year Burgos A landmark transaction being Project Sponsor the first wind farm project financing in the Philippines to reach financial close the first to be banked under the country s new feed-in tariff regime Energy Development Corporation Achieving financial close indicates growing confidence and an increasingly sophisticated view of the Philippine market by both international and local lenders Yearbook 05 Project Finance International 5 Key Investment Highlights

EDC S GROWTH AGENDA Growth Projects 05 STATUS 05 STATUS 305 MW Palinpinon- Tongonan acquired in 009 30 MW Bacman acquired in 00 Bid for Unified Leyte IPPA in 04 Bid for Mindanao & IPPA in 04 ACQUIRE

04 6 MW NNGP Plant development is on-going 80 MW for commissioning by 08 50 MW Burgos Wind commissioned in 4Q 4 Wind measurement studies is on-going in 9 other concessions Potential 4MW solar

16 EDC S GROWTH AGENDA Growth Projects 05 STATUS 05 STATUS 305 MW Palinpinon- Tongonan acquired in MW Bacman acquired in 00 Bid for Unified Leyte IPPA in 04 Bid for Mindanao & IPPA in 04 ACQUIRE Win key government geothermal privatization projects DEVELOP Install 80MW of local geothermal capacity to address new demand MW Nasulo commissioned in Sept MW NNGP Plant development is on-going 80 MW for commissioning by MW Burgos Wind commissioned in 4Q 4 Wind measurement studies is on-going in 9 other concessions Potential 4MW solar DIVERSIFY 3 4 Build 00MW of wind capacity, while expanding RE portfolio CONQUER Establish viable operations in Asia, Latin America, and Africa Granted 5 concessions & 9 pending applications in Chile & Peru Established local offices in LatAm and Indonesia Drill wells in Mariposa, Chile by 05 Continue to prospect prime geo sites 6 Key Investment Highlights

GEOTHERMAL ENERGY IS A STRATEGIC ENERGY RESOURCE FOR THE PHILIPPINES Favorable Industry Dynamics 03 POWER STATISTICS OF THE PHILIPPINES

4Php/kWh 03 Required Reserve: 0,05 MW Natural Gas 5% Hydro 3% New Re 0% 8,000 6,000.87 Php/kWh () 5.

60 P/kWh Fuel Type Installed Capacity (MW) Coal 5,568 Hydro 3,5 Oil-based 3,353 Geothermal,868 Natural Gas,86 New RE 53 Total 7,35 %

17 GEOTHERMAL ENERGY IS A STRATEGIC ENERGY RESOURCE FOR THE PHILIPPINES Favorable Industry Dynamics 03 POWER STATISTICS OF THE PHILIPPINES LUZON DISPATCH AT FULL COST () WITH VAT Ave. dependable capacity (MW) Conventional 74% Oil Based 6% Geothermal 3% Renewable 6%,000 0, Php/kWh 03 Required Reserve: 0,05 MW Natural Gas 5% Hydro 3% New Re 0% 8,000 6, Php/kWh () 5.6 Php/kWh 03 Peak Demand: 8,83 MW Coal 43% 4,000 Source: DOE, P/kWh P/kWh Fuel Type Installed Capacity (MW) Coal 5,568 Hydro 3,5 Oil-based 3,353 Geothermal,868 Natural Gas,86 New RE 53 Total 7,35 % Geothermal as a % of Installed Capacity 3% Geothermal as a % of Electricity Production - Geothermal Coal Natural Gas Hydro Oil Based/Gas Turbine 3.68 P/kWh P/kWh NOTES: ) Quoted production costs were derived from estimated weekly cost of Luzon grid power plants at 83% capacity factor as of August 9 03, VAT inclusive ) Despite P.87/kWh production cost, hydro capacity is still used for peaking because these are not runof-river types used for base load. Only Casecnan is run-of-river 7 Key Investment Highlights

REPLICATING BACMAN s RETROFIT PROGRAM INTO BOTH TONGONAN I AND PALINPINON I... LIFE ETENSION YIELDS ADDITIONAL BENEFITS Growth Projects Bacman Retrofit Program Efficiency Gains Electricity Production 0.

18 REPLICATING BACMAN s RETROFIT PROGRAM INTO BOTH TONGONAN I AND PALINPINON I... LIFE ETENSION YIELDS ADDITIONAL BENEFITS Growth Projects Bacman Retrofit Program Efficiency Gains Electricity Production 0.00% Steam Consumption 9.75% TURBINE Retrofit GENERATOR Retrofit 30 year old design with associated reliability issues 30 year old design with associated reliability issues Jan 5 H 5 3Q 6 07 Tongonan retrofit kit order date Palinpinon retrofit kit order date Target COD for Tongonan Target COD for Palinpinon EDC REALIZES EFFICIENCY GAINS WITH NEW TECHNOLOGY AND ACHIEVES LIFE ETENSION FOR LEGACY POWER GENERATING ASSETS 8 Key Investment Highlights

Growth Projects LOCAL GEOTHERMAL PROJECTS WILL BE THE MAIN SOURCE OF GROWTH IN THE MEDIUM TERM FRONTIER AREAS 4 Beyond PROJECT (WIND) CAPACITY 04

Negros 6 MW Burgos Solar 4 MW Bacman 3** up to 30 MW Nasuji up to 0 MW Iloilo Matnog Matnog Matnog 3 Negros 3 FRONTIER AREAS (GEOTHERMAL) 3

Zion, North Cotabato 3 50 MW Botong-Rangas** up to 40 MW 3 Mindanao 3 4 Pagudpud Wind 50 MW Bacman 5 7 6 4 49 MW 0 MW Tongonan ~ MW Palinpinon ~

19 Growth Projects LOCAL GEOTHERMAL PROJECTS WILL BE THE MAIN SOURCE OF GROWTH IN THE MEDIUM TERM FRONTIER AREAS 4 Beyond PROJECT (WIND) CAPACITY Bayog I (Burgos I) Nasulo* Pagali (Burgos II) Burgos Wind Iloilo No. Negros 6 MW Burgos Solar 4 MW Bacman 3** up to 30 MW Nasuji up to 0 MW Iloilo Matnog Matnog Matnog 3 Negros 3 FRONTIER AREAS (GEOTHERMAL) 3 Mandalangan, Negros Occidental 4 Lakewood, Zamboanga del Sur 5 Ampiro, Misamis Occidental 6 Balingasag, Misamis Oriental 7 Mt. Zion, North Cotabato 3 50 MW Botong-Rangas** up to 40 MW 3 Mindanao 3 4 Pagudpud Wind 50 MW Bacman MW 0 MW Tongonan ~ MW Palinpinon ~ MW Kayabon 50 MW Dauin 40 MW DONE EECUTION ADVANCED EPLORATION RESOURCE CONFIRMATION Note: *0 MW Nasuji Power Plant placed on preservation **Resource sustainability assessment is on-going 9 Key Investment Highlights POWER PLANT RETROFIT

EDC SEIZED THE OPPORTUNITY AND NOW HOLDS STAKES IN UP TO 5 CONCESSIONS AND 9 APPLICATIONS Growth Projects LATIN AMERICA Company Granted Sites* Applications (Entry into LatAm) Peru Chile Peru Chile

20 EDC SEIZED THE OPPORTUNITY AND NOW HOLDS STAKES IN UP TO 5 CONCESSIONS AND 9 APPLICATIONS Growth Projects LATIN AMERICA Company Granted Sites* Applications (Entry into LatAm) Peru Chile Peru Chile Alterra Power Corp 8 0 Hot Rock Ltd EDC Applied/Bid Sites TOTAL * Peru: Achumani and Quello Apacheta (from HRL acquisition) and Pinchollo Libre (From Alterra JVA) Chile: Laguna del Maule and Pellado (both comprise the Mariposa project from Alterra JVA) Q 4 Prospect Temp (deg C) Resource Probability Area (km ) MWe Achumani Project P (Peru) P P Quello Apacheta Project (Peru) Tutupaca Project (Peru)* *Under EDC application Mariposa Project (Chile) Site Development Budget: USD 5 MM 0-40 P P P P0 - - P P P P P0 0 Q4 5 Q 0 Exploration Drilling Estimate: USD 30 MM Target COD ~760 to,800 GRAHO NYABU GEOTHERMAL PROSPECT INDONESIA Results from EDC s completed survey activities for Graho Nyabu in Sumatra shall be used by Indonesian Ministry of Energy and Mineral Resources for its upcoming tender of the Graho Nyabu concession Currently, in partnership discussions with a geothermal concession holder for a JV in one of their geothermal sites (~ 0 MW at an ~ US.0 billion development cost) WE ARE NOW EECUTING AN EPLORATION DRILLING PROGRAM IN MARIPOSA, ONE OF THE MOST ADVANCED GEOTHERMAL PROJECTS IN CHILE 0 Key Investment Highlights

21 END OF PRESENTATION

COMPANY PRESENTATION 6th Annual dbaccess Asia Conference Marina Bay Sands, Singapore; May 18-20, 2015

COMPANY PRESENTATION 6th Annual dbaccess Asia Conference Marina Bay Sands, Singapore; May 18-20, 2015 2 DISCLAIMER This presentation contains certain forward looking statements. These forward looking statements