Page 1 of 8 Mishcon de Reya It's business. But it's personal. People KAREL DAELE Position: Partner Telephone: +44 207 440 7060 Email: karel.daele@mishcon.com Karel is a partner in the international arbitration group. He advises and represents clients in arbitrations under the International Centre for Settlement of Investment Disputes (ICSID), London Court of Arbitration (LCIA), International Chamber of Commerce (ICC), the UN Commission on International Trade Law (UNCITRAL), the Belgian Centre for Mediation and Arbitration (CEPINA) rules and in ad hoc arbitrations. He also acts as an arbitrator. Karel's experience encompasses a range of dispute types in various sectors such as the oil and gas industry, water utilities, power generation and distribution, construction and infrastructure, telecoms and general commercial disputes. Having lived and worked in East Africa for several years, he has also specialist knowledge of Africa related matters, both legally and culturally.

Page 2 of 8 Karel is a member of the Chartered Institute of Arbitrators, LCIA, ICCA, ICC, IBA and various other arbitration organisations. His arbitration and Africa work is acknowledged in international legal directories such as the International Who's Who in Commercial Arbitration, Chambers Global ('well known for his wide-ranging expertise in international arbitrations') and Guide to the World's Leading Experts in Commercial Arbitration. Karel has authored the reference work 'Challenge and Disqualification of Arbitrators in International Arbitration' and contributed to several books including 'Arbitration in Africa A Practitioner's Handbook'. He has also published numerous articles in national and international legal journals on unfair competition, contract law, distribution, dispute resolution and piracy and counterfeiting. EXPERIENCE Foreign Investment Arbitration: Advising the investor on bringing arbitration proceedings against the Government of Turkmenistan and Turkmenneft under a Production Sharing Agreement and Joint Activity Agreement (seat Stockholm; Turkmenistan applicable law and principles of international law); Acting for the investor in pending ICSID arbitration proceedings against an African state in relation to disputes arising out of a hydrocarbons exploration and exploitation contract (ICSID Case No. ARB/13/14, seat Paris; Cameroon applicable law); Representing the investor in pending ICSID arbitration proceedings against Saint Lucia arising out of a petroleum exploration contract (ICSID Case No. ARB/12/10; seat New York; Saint Lucia applicable law); Acted for the investor in ICSID conciliation proceedings against an African state in relation to disputes arising out of a hydrocarbons exploration and exploitation contract (ICSID Case No. CONC/11/1; seat Paris; Cameroon applicable law); Advised an investor in relation to ICSID annulment proceedings against an African state; Represented an African state-controlled company in ICSID arbitration proceedings under a Power Purchase Agreement, involving a tariff dispute (ICSID Case No. ARB/10/20; seat London; Tanzanian applicable law); Successfully represented an African state in ICSID arbitration proceedings in relation to the alleged expropriation of a power plant and the loans granted to finance the

Page 3 of 8 construction of the plant. The Award of the Tribunal of 2 November 2012, dismissing the case for lack of jurisdiction, is publicly available on the ICSID website (ICSID Case No. ARB/10/12; seat London; UK-Tanzania BIT); Successfully represented an African state-controlled company in ICSID arbitration proceedings arising out of a failed power project (ICSID Case No. ARB/98/8; seat London); On behalf of an African State, successfully objected to the registration of an ICSID Request for Arbitration; Represented an African state in ICSID arbitration proceedings arising out of a failed water and sanitation project. The Award of the Tribunal of 24 July 2008, dismissing the claim for compensation, is publicly available on the ICSID website (ICSID Case No. ARB/05/22; seat The Hague; UK-Tanzania BIT). LCIA Arbitration: Representing a BVI claimant in debt recovery proceeding against a Cypriot company (seat London; English applicable law); Representing a Bahamian respondent in a shareholders and hotel management dispute with an Irish corporate (seat London; English applicable law); Representing a Nigerian corporate in the English High Court in an appeal against an LCIA Award, based on Sections 67 and 68 of the 1996 Arbitration Act; Representing a US respondent in a dispute with a UK claimant arising out of a logistics services agreement in the automotive sector (seat London; English applicable law); Representing a US claimant in proceedings brought against Swiss, French and Belgian respondents in relation to the sale and ownership of cosmetic formulas (seat London; English applicable law); Representing a Ukraine respondent in proceedings brought by the estate of a Georgian oligarch arising out of the sale of the shareholding in Russian exclusive car dealerships (seat London; English applicable law); Advising a Hong Kong based company on bringing proceedings against Rolls Royce under a Commercial Advisory Services Agreement covering various Asian countries (seat London). ICC Arbitration:

Page 4 of 8 Acting for a US petroleum company in emergency proceedings, followed by arbitration proceedings, arising under farm-in, operating and concession agreements in Cameroon (applicable law Texas; seat Houston); Acting for a Syrian subcontractor in a construction dispute with a Chinese contractor over a 2,400 MW power plant in Saudi Arabia (seat London; English applicable law); Representing Polish joint venture partners in a dispute arising out of a failed IPO and the exercise of put options (seat London; English applicable law); Representing a German corporate in proceedings against the Government of Libya arising out of a contract for the provision of evacuation, logistic and financial services to Libyan war-wounded patients (seat London; English applicable law); Sitting as a party-appointed arbitrator in proceedings between a Spanish claimant and Belgian defendant arising out of a construction contract (seat Ghent; Belgian applicable law); Representing a UK claimant in proceedings brought against a Swiss laboratory over the conducting of pharmaceutical tests and studies (seat Basel; Swiss applicable law); Advised an Austrian contractor on bringing ICC proceedings against a Kazakh company in relation to an oilfield and export pipelines development project (seat London; English applicable law); Represented a Spanish respondent in a dispute with a Kenyan dairy producer arising out of the sale of contaminated milk products to the UN peace keeping troops in East-Africa (seat Nairobi; Kenyan applicable law); Represented an Asian car manufacturer in proceedings initiated by a Belgian exclusive distributor (seat Paris; Belgian applicable law). UNCITRAL/Ad Hoc Arbitration: Following an appointment by the Permanent Court of Arbitration, sitting as an arbitrator in a USD 200 million UNCITRAL arbitration between an African conglomerate and an African state in relation to a failed power infrastructure project (seat Nairobi; South Sudan applicable law); Representing a UK respondent in a sales dispute under the English Arbitration Act 1996 (seat London; English applicable law);

Page 5 of 8 Advised an Israeli investor in a dispute with the Government of Zambia over the unilateral termination of a 20 year concession to design, build, operate and transfer border control infrastructure (seat Lusaka; Zambian applicable law); Represented the claimant in proceedings under the Tanzanian Arbitration Act in relation to the termination of a partnership agreement (seat Dar es Salaam; Tanzanian applicable law); Represented an African water authority in an UNCITRAL arbitration initiated by a multinational water company, in a case involving the termination of a water and sanitation operation and lease agreement (seat London: Tanzanian applicable law); Represented an African state in proceedings under the Rules of the European Development Fund arising out of a road construction contract (seat Dar es Salaam; Tanzanian applicable law); Represented a contractor in proceedings under the Rules of the Tanzanian Construction Council against the employer (seat Dar es Salaam; Tanzanian applicable law). Other Institutional Arbitrations: Sit as chairman of a KIAC Arbitral Tribunal in a construction dispute in the water sector between an African contractor and an African state agency (Rwandan law; seat Kigali); Represented a Dutch bank in a CEPINA arbitration arising out of the sale of its retail outlets (seat Brussels; Belgian applicable law); Sit as chairman of a KIAC Arbitral Tribunal in a construction dispute in the water sector between an African contractor and an African state agency (Rwandan law; seat Kigali); LANGUAGES English, French, Dutch, (basic) German CAREER HISTORY Mishcon de Reya (London), Partner Mkono & Co Advocates (Tanzania), Partner Wilmer Hale (Brussels), Counsel Freshfields Bruckhaus Deringer (Brussels), Senior Associate Stibbe (Brussels), Associate

Page 6 of 8 PROFESSIONAL MEMBERSHIPS LCIA (London Court of International Arbitration; African Users' Council) ICCA (International Council for Commercial Arbitration) World Bank's Expert Consultative Group on Investment Across Borders ICSID Review-Foreign Investment Law Journal (Peer Review Board) Mother Arbitration Club (UK) IBA (Arbitration Subcommittee & Africa Regional Forum) Registered European Lawyer (Solicitor Regulatory Authority (SRA), UK) Solicitor at the Bar of Brussels (Belgium) Chartered Institute of Arbitrators, Member ARTICLES AND PUBLICATIONS Saint Gobain v Venezuela and Blue Bank v Venezuela: The Standard for Disqualifying Arbitrators Finally Settled and Lowered", 29(2) ICSID Review 2014, 296-305 Case Comment ICSID Case No. ARB(AF)/12/6, Lao Holdings NV v. The Lao People's Democratic Republic, Decision on Jurisdiction of 21 February 2014, Lexis Nexis (forthcoming); 'EU Bends Investor-State Arbitration Rules', CDR Commercial Dispute Resolution, 27 March 2014 (comments); 'ICSID arbitrator disqualified by co-panellists', Global Arbitration Review, 21 March 2014 (comments); 'EU launches trade deal consultation', CDR Commercial Dispute Resolution, 22 January 2014 (comments); Investment Arbitration Conference Report, 5(1) CDR Commercial Dispute Resolution (2014), 22-23; "ICSID disqualifies arbitrator in Venezuela case", Global Arbitration Review, 15 November 2013 (interview); World Bank 2013 Report "Arbitrating and Mediating Disputes Benchmarking arbitration and mediation regimes for commercial disputes related to foreign direct investment" (contributor) 'Getting to grips with the EU's approach to BITs', 8 (4) Global Arbitration Review, 8 August 2013, 23-26;

Page 7 of 8 Investment Arbitration Involving African States in Arbitration in Africa: A Practitioner s Guide (Kluwer Law International, ed. Lise Bosman, 2013, 403-469); 'The New EU Policy on Foreign Direct Investment', International Comparative Legal Guides Arbitration 2013; 'All for a BIT of FDI', 4(3) CDR Commercial Dispute Resolution (2013), 52-55; 'Africa's solid FDI arbitration track record', www.thisisafricaonline.com, 6 March 2013; 'The unfinished work of foreign investor protection in Africa', www.kluwerarbitrationblog.com, 22 February 2013; 'A New Foreign Investment Law in Myanmar', www.kluwerarbitrationblog.com, 23 January 2013; Challenge and Disqualification of Arbitrators in International Arbitration (2012), Alphen aan den Rijn, Kluwer Law International, 1-539; 'Africa's track record in ICSID proceedings', www.kluwerarbitrationblog.com, 30 May 2012. 'Investment treaty arbitration: similar challenges, different outcome, Global Arbitration Review, 21 March 2012; 'Author of forthcoming study on arbitrator disqualification explains why ICSID arbitrators are so difficult to unseat' (interview), Investment Arbitration Reporter, 8 June 2011; 'Arbitration in Tanzania', with N. Mkono & D. Krips, Practical Law Arbitration Handbook (2011), 163-168; 'Arbitration in Tanzania', Global Arbitration Review - Getting the Deal Through - Arbitration (2010), 330-334; 'Arbitration in Tanzania', with W. Kapinga & S. Seifert, Global Arbitration Review - Getting the Deal Through - Arbitration (2009), 297-301. Click here to view more SPEAKING ENGAGEMENTS 'Enhancing Business Opportunities: The Role, Reality and Future of Africa-Related Arbitration', Atlanta International Arbitration Society, 3-4 November 2014, Atlanta; 2014 London Training Week in Investment Treaty Law and Arbitration, Africa International Legal Awareness (AILA), 26 September 2014, London;

Page 8 of 8 'Emerging Issues in International Arbitration: What a New Arbitral; Seat Can Anticipate', Kigali International Arbitration Centre (KIAC) International Arbitration Conference, 25-27 May 2014, Kigali (Rwanda); "Modern Enforcement of Arbitral Awards", speaking at the 26th annual ITA Workshop, 18-19 June 2014, Dallas "The EU's New Foreign Investment Policy", speaking at the CDR Arbitration Day, 12 November 2013, London; 'Disputes with a Russian/CIS Private Client element', Conference of the British-Russian Law Association, 8 October 2013, London; 'Challenges Involved in Outbound Investments: Legal Regimes of Host Countries and the Role of International Law', Beijing Foreign Studies University and ABA International Law Section, 16-17 September 2013, Beijing; 'Kluwer Arbitration User Forum', 10 September 2013, London; 'Destination Africa: New York Convention Roadshow and Investment Arbitration', American Bar Association, 26 April 2013, Washington DC; 'The African Dream', BDO and DMJ Legal Seminar, 12 February 2013, London; 'Conflicts of Interests and Challenge of Arbitrators', LCIA African Users' Council Symposium on International Commercial Arbitration, 1-2 February 2013, Lagos; Investment Disputes Involving African States, Kluwer 2nd International Arbitration and Mediation Conference, 7-8 June 2012, Hong Kong; Africa and International Law: Taking Stock and Moving Forward Conference, Albany Law School and the African Interest Group of the American Society of International Law, 12-14 April 2012, Albany; Contemporary Topics in Investment Arbitration Conference, Association of International Arbitration, 22 October 2010, Brussels. Click here to view more