#1May 2022 Strictly Private and Confidential All Figures as of FY21 Unless Otherwise stated Qalaa Holdings Investor Presentation ༼ལ ΟΛΙΛΛ HOLDINGS القلعة AFRICAN LEADER IN INFRASTRUCTURE & INDUSTRY#2Contents | Overview II Industries & Companies III Highlights 3-8 9-28 29-36 2 S ༼ ΟΛΙΛΛ HOLDINGS ä القلع#3Overview ༼ལ ΟΛΙΛΛ HOLDINGS AFRICAN LEADER IN INFRASTRUCTURE & INDUSTRY القلعة#4Qalaa Holdings at a Glance 4 Leading investment company in energy and infrastructure, established in 2004 Consolidated Income Statement Highlights FY21 Revenues of EGP 45,826.1 mn vs. EGP 35,950.8 mn in FY20 FY21 EBITDA* of EGP 4,131.9 mn vs. EGP 1,485.1 mn in FY20 Building businesses in the core industries that will define our region's future, including refining, energy distribution and transportation and logistics FY21 Net Loss after Minority Interest of EGP 2,278.4 mn vs. a net loss of EGP 2,553.0 mn in FY20 Consolidated Income Statement Highlights (excluding ERC**) FY21 Revenues of EGP 17,324.4 mn vs. EGP 14,392.0 mn in FY20 FY21 EBITDA* of EGP 1,841.2 mn vs. EGP 1,626.5 mn in FY20 Currently operating in 5 Middle Eastern and African countries FY21 Net Loss after Minority Interest of EGP 1,841.4 mn vs. a net loss of EGP 1,467.1 mn in FY20 +17k employees across the organization Highlights from Consolidated Balance Sheet as at 31 December 2021 Total consolidated assets of c. EGP 84.3 bn (at current book value) Total bank debt stood at EGP 61.9 bn, of which EGP 42.7 bn was related * Recurring EBITDA excludes one-off selling, general and administrative expenses ** ERC is the Egyptian Refining Company, a greenfield second-stage refinery under Qalaa's energy platform (please refer to slide number 13 for more details) to ERC ༼༽ ΟΛΙΛΛ HOLDINGS ä القلع#55 Qalaa Holdings Ownership Structure and Share Information CCP, 23.5%* Shareholder Structure (as at 31 March 2022) EIIC, 5.5% Olayan, 9.1% Dubai Holding, 3.8% CIB, 2.9% 0 * CCP is owned by the senior management of Qalaa Holdings. ** CCAP.CA on the EGX Number of Shares Of which preferred shares* Of which common shares Paid-in Capital Share Price as of December 31, 2021 Others, 55.2% Market Cap 1,820,000,000 401,738,649 1,418,261,351 EGP 9,100,000,000 EGP 1.29 EGP 2,347,800,000 Preferred shares are fully owned by CCP and only enjoy a higher voting weight where each share has the voting power of three ordinary shares. ད ΟΛΙΛΛ HOLDINGS ä القلع#6African Leader in Infrastructure and Industry Qalaa Holdings' operations span a diverse geographic footprint, where it is helping build businesses in the core industries that will define the region's future. Leadership in Core Industries Across MEA ENERGY CEMENT PACKAGING & PRINTING ☑ MINING AGRIFOODS Algeria Egypt Qatar Pakistan TRANSPORTATION & LOGISTICS Current Operations ^ As of March 31, 2022 - Share price of EGP 1.29 6 Sudan South Sudan Ethiopia Deep Regional Knowledge, Strong Industry Know-How Experienced and Dedicated Management Team EGP 9.1 bn Paid-in capital EGP c. 2.3 bn Market capitalization^ Revenue Progression (in EGP mn) EBITDA Progression (in EGP mn) 35,950.8 45,826.1 1,485.1 4,131.9 FY20 FY21 FY20 FY21 ད་ ΟΛΙΛΛ HOLDINGS ä القلع#7Core Industries at a Glance Energy 82% of Consolidated Revenues in FY21 Cement 7% of Consolidated Revenues in FY21 Packaging & Printing 6% of Consolidated Revenues in FY21 Mining 2% of Consolidated Revenues in FY21 Agrifoods 2% of Consolidated Revenues in FY21 Transportation & Logistics 1% of Consolidated Revenues in FY21 ⚫A leading regional player in the energy segment with investments in midstream and downstream operations. •Activities include refining, energy distribution, power generation, solid waste management. •Two core subsidiaries: the Egyptian Refining Company ("ERC") and TAQA Arabia Footprint: Predominantly Egypt ERC TAQA ⚫ASEC Holding is a leading national and regional investor in cement production, construction and technical management. •ASEC's portfolio includes cement manufacturing through ASEC Cement with two operational production facilities in Algeria and Sudan. •ASEC's construction and management services are carried out by ARESCO, ASEC Engineering, ASEC Automation and ASENPRO. Footprint: Algeria, Egypt, and Sudan 2500 أسيك holding القابضة ⚫Through its subsidiary National Printing Company, Qalaa Holdings has invested in the printing and packaging sector with investments of over USD 60 million to date. •National Printing Company has four subsidiaries: Shorouk, Al-Baddar, Windsor, and Uniboard and a total of 2,000 employees. • It is a leading printing and packaging company that uses some of the most advanced technology available in Egypt. Footprint: Egypt NATIONAL PRINTING UNIBOARD المتحدة الصناعة الورق والكرتون ⚫ An investment play in the region's geology and mining industry •Activities include research and development, precious metals mining, mining for the cement industry, quarry management, production of ground calcium carbonate, rockwool and glasswool (insulation materials) •Gold concession in Ethiopia at the prefeasibility study phase A core subsidiary with multiple active portfolio companies Footprint: Algeria, Egypt, Ethiopia, and Sudan ASCOM GEOLOGY & MINING •Largest farm in Egypt with over 15 thousand heads of cattle. •Inhouse-planted feedstock satisfies c.80% of the company's consumption with the balance sourced locally •Market leader in fresh (short shelf-life) dairy produce with a variety of SKUs in the market. Footprint: Egypt DINA FARMS •Investments in river transport and seaport services •Activities include logistics, river transport services, port management, stevedoring. ⚫One core subsidiary with multiple active portfolio companies. •Inland Container Depot launched in August 2016 (Nubareya-Alex Port). ⚫100k tons grain storage facility launched in Sep 2019 (Nubareya-Alex Port). Footprint: Egypt, Sudan, and South Sudan NILE LOGISTICS 7 ལ ΟΛΙΛΛ HOLDINGS ä القلع#8Industries & Companies ༼ལ ΟΛΙΛΛ HOLDINGS AFRICAN LEADER IN INFRASTRUCTURE & INDUSTRY القلعة#9Overview of Subsidiaries 9 Industry Energy Cement Slide Number 11 15 Packaging & 17 Printing ✡ Mining New Holland 19 Agrifoods 22 Transportation & 24 Logistics TAQA TAQA RSK TAQA ༼ག ΟΛΙΛΛ HOLDINGS ä القلع#10Energy#11Energy Overview The Energy Industry is Supported by Strong Macro Fundamentals Region-wide, trends are towards higher consumption of natural gas coupled with an increasingly unreliable supply The region's energy-intensive industries are in need of reliable, quality fuel. Interest in the use of alternative fuels is rising, as are government incentives for the same Energy at Qalaa Holdings To keep pace with projected economic growth and provide much-needed energy capacity in the region, Qalaa Holdings has invested in energy as one of our core industries. Two core subsidiaries: Egyptian Refining Company and TAQA Arabia. Electricity price increases in Egypt will necessitate a number of energy efficiency projects and greenfield power projects The Government of Egypt is in the process of cutting back on fuel subsidies and deregulating the energy sector Platform Companies ERC TAQAC Arabia % of Consolidated Revenues (FY21) Revenues EGP 37,603.8 mn (FY21) Qalaa's energy plays that capitalize on these trends: ERC; TAQA Arabia *Calculated as EBITDA before non-recurring items. 11 82% EBITDA* EGP 3,263.2 mn (FY21) ད་ ΟΛΙΛΛ HOLDINGS ä القلع#12ERC Company Overview ERC c.13.1% owned by QH The Egyptian Refining Company is a state-of-the-art USD 4.4 bn greenfield second- stage refinery Reached financial close in June 2012 Reached full production in November 2019 Starting January 2020, ERC has been recognized as an operational asset. Total debt of USD 2.7 bn and total equity of USD 1.5 bn 25-year supply & off- take agreement with EGPC at international ERC today: In FY21, ERC refined total feedstock of c. 3,802.6 thousand tons, including 3,551.9 thousand tons of atmospheric residue. During the year, ERC supplied c.3,298.6 thousand tons of refined product to the Egyptian General Petroleum Corporation (EGPC), and approximately c.429.3 thousand tons of pet coke and 74.6 thousand tons of Sulphur to cement and fertilizer companies, respectively. Reformate Fuel Oil Jet Fuel Diesel Total Supplied to EGPC prices Among the largest-ever non-recourse project finance transactions in Africa Designed to produce 4.7 MTPA of products, including 2.3 MTPA Euro V diesel The project will reduce Egypt's present-day imports of diesel by some 30%. This comes as the Government of Egypt is redefining its energy policy ERC Financials ERC Consolidated Revenues EGP mn 21,558.8 28,501.8 Product LPG Light Naphtha FY20 Quantity 125,249 281,569 512,765 468,928 147,635 2,420,618 3,956,765 (tons) FY21 Quantity 106,269 (tons) 212,880 425,017 370,782 327,249 1,671,700 3,113,897 Change -15% -24% -17% -21% 122% -31% -21% Lower volumes reflect management's decision to cease tolling crude oil at Cairo Oil Refining Company for a portion of its inputs to increase ERC's gross refining margin. The decision, along with rising refined oil product prices, resulted in a significant improvement in gross refining margin and hence profitability. It is worth noting that in early 2022, ERC's gross refining margin improved substantially as a result of the Russo-Ukrainian war, surpassing pre-COVID-19 levels. 12 * Calculated as EBITDA before non-recurring items. FY20 FY21 ERC Consolidated EBITDA* | EGP mn (141.4) 2,290.7 FY20 ༼ལ FY21 ΟΛΙΛΛ HOLDINGS ä القلع#13TAQA Arabia TAQAQ Arabia 7.4 BCM Distributed TAQA Arabia Financials TAQA Arabia Consolidated Revenues | EGP mn 55.9% owned by QH TAQA Company Overview TAQA Arabia is Egypt's largest private sector energy distribution company. The company's three arms cover: gas EPC* & distribution (residential, commercial and industrial); electricity distribution and generation; and fuels & lubricants marketing. TAQA Gas 4 Concessions covering 7 governorates 1,459,603 in FY21 Households converted throughout FY21 despite the challenging external environment and disruptions. TAQA *Compressed natural gas stations under the brand name of Master Gas **Calculated as EBITDA before non-recurring items 13 *Engineering, procurement, and construction TAQA Power 7,923.7 9,102.0 50MW Solar power plant ~42 MW ~1000 MW FY20 FY21 in of captive power generated Benban-Aswan of distribution capacity TAQA Arabia Consolidated EBITDA** | EGP mn TAQA Marketing 60 Filling stations across Egypt as of December 2021 34 CNG* filling stations across Egypt as of December 2021 JV formed with BP Castrol to produce and distribute lubes in Egypt and the wider region, making TAQA- Castrol into a retailer as opposed to a wholesaler 795.0 972.5 FY20 FY21 ༼༽ ΟΛΙΛΛ HOLDINGS ä القلع#14Cement#15Cement ASEC Cement* Al Takamol Cement Construction Zahana Cement ARESCO (Algeria) 35% 100% asec holling القابضة Technical Management ASEC Automation ASEC Engineering 100% 100% ASENPRO 100% 55% ASEC Cement currently has two international production facilities: Al Takamol Cement in Sudan and Zahana Cement in Algeria (currently under divestment*) Al-Takamol Cement currently has the third largest share of the Sudanese cement market with a 28% market share. ARESCO is a turnkey contractor specializing in industrial projects for industries ranging from cement to power plants to water treatment. ASEC Automation offers solutions and systems spanning enterprise control systems, high- medium voltage cables & systems and enterprise control software. ASEC Engineering provides cement plant consultancy, engineering, and management services in the MENA region. ASENPRO specializes in controlling pollution and dust emissions resulting from cement production. 1,630 ktons Volume Sold (FY21) Algeria & Sudan - Percentage ownership by ASEC Cement Holding *Qalaa Holdings directly owns a 10% share of ASEC Cement 15 EGP 510 mi Total backlog (FY21) mn 6.1 mn tons Managed clinker production (ASEC Eng.) (FY21) S ༼ ΟΛΙΛΛ HOLDINGS ä القلع#16Packaging & Printing 4 5 6 7 8 9 30 1 2 3 4 5 6 7 8 $671 94012 112345678912345678927dade#17NATIONAL PRINTING Packaging and Printing Building Capacity in Packaging and Printing Through its subsidiary National Printing Company, Qalaa Holdings has invested in the printing and packaging sector with investments of over USD 60 million to date. 17 National Printing Company has four subsidiaries: Shorouk, Al-Baddar, Windsor, and Uniboard and a total of 2,000 employees. It is a leading printing and packaging company that uses some of the most advanced technology available in Egypt. Company Overview EGP 2,604.5 mn Total group sales in FY21 50% Reduction in Egypt's Duplex imports 80k tons Recycled paper used USD 60 mn QH investment in the sector ལ ΟΛΙΛΛ HOLDINGS ä القلع#18Mining#19ASCOM 19 Company Overview 54.1% owned by QH From quarrying for the cement industry to the manufacture of world-class technical calcium carbonate and environmentally friendly building materials, Qalaa Holdings' approach in the mining sector focuses on investing in the entire value chain helping nations develop and obtain value from their natural resources. Algarta ΟΛΙΛΛ HOLDINGS القلع Current operations ASCOM GEOLOGY & MINING Mining Sector Footprint Egypt Sudan Ethiopia Core platform ASCOM includes several operating companies Subsidiaries ACCM (technical calcium carbonate) and Glass Rock (glasswool and rockwool insulation) are promising export plays APM holds highly promising gold concessions in Ethiopia at the prefeasibility study phase with significant proven shallow reserves ASCOM (leading provider of quarrying materials for the cement industry, including high-grade limestone, glass sand, and clay) ASCOM for Chemicals & Carbonates Manufacturing (ACCM, focused on the production of world- class ground technical calcium carbonate) Glass Rock (specialized in manufacturing both Glass wool and Rock wool which are widely used in different insulation application) ASCOM Precious Metals "APM" (currently has an asset base of a 1.6 million OZ gold reserve in Western Ethiopia) ACCM is diversifying its sales channels, placing greater emphasis on the local market. This will position the company to hedge against foreign exchange risk and allow it to benefit from the local market's increasingly favourable fundamentals Serves limestone and gypsum needs of +40% of Egyptian cement industry Operating across multiple countries in the Middle East and Africa ༼ད༽ ΟΛΙΛΛ HOLDINGS ä القلع#20ASCOM (cont'd) ASCOM Financials ASCOM Revenues | EGP mn ACCM revenues of USD 35.7 mn 821.6 937.7 FY20 FY21 20 ASCOM in FY21, a 54% y-o-y increase EBITDA* | EGP mn GlassRock revenues of USD 9.2 mn 85.1 369k tons sold by ACCM in FY21, up 52.0 in FY21, a 19% y-o-y increase 16% y-o-y FY20 FY21 *Calculated as EBITDA before non-recurring items. ASCOM GEOLOGY & MINING 12.8 mn tons sold by Egypt's Quarrying Business in FY21, down 17% y-o-y ༼༽ ΟΛΙΛΛ HOLDINGS ä القلع#21Agrifoods#22Gozour Increasing Our Milk Volumes Company Overview און 22 54.9% owned* by QH Qalaa Holdings' investments in agrifoods aim to overcome challenges facing the agricultural and food production sector in Egypt and the region. Through its subsidiary, Gozour, the Group operates Dina Farms and ICDP (Dina Farms' fresh dairy producer). DINA FARMS جذور Gozour c.7,000 acres of land at km 80 of the Cairo- Alexandria Desert Road 9 13,949 cows (of which 6,998 are milking cows) +20k tons of raw milk sold on average each quarter 16,755 tons of SKUs sold by ICDP in FY21 *Direct &/or indirect stakes Rising prices of imported skimmed milk powder (SMP) drive higher demand for fresh milk At Dina Farms, management had been implementing multiple initiatives aimed at enhancing its manufacturing capabilities and increasing efficiency ICDP (the distributor of Dina Farms fresh products) is the leading market player with c.75% of fresh milk (short shelf-life) products market in Egypt This strategy led to improved performances across all of Dina Farms' divisions and recorded a top line increase of 19% y-o-y to EGP 1,045.4 million in FY21 ༼ ΟΛΙΛΛ HOLDINGS ä القلع#23Transportation & Logistics#24Nile Logistics Transporting Goods Efficiently and Economically Company Overview 67.6% owned* by QH Alexandria Footprint NILE LOGISTICS Port Said Damietta Dekheila East Port Said Arish Suez Petroleum Dock Nuweiba Adabiya Sokhna Al-Tor Nile Logistics is a leading logistics service provider in Egypt, and South Sudan, using river transportation and sea-port services as its backbone operations. Nile Logistics Owns and operates a barge fleet in Egypt that covers river transport routes from Alexandria and Damietta to Aswan. The service started to gain more traction following the removal of fuel subsidies as transporting goods on the Nile is cheaper and more efficient than trucking and railway. The company currently operates using two pushers and is expecting to begin operating a third one by early 2022. WAT Ports where Nile Logistics operates stevedoring and feeder services Egyptian ports Sharm El-Sheikh Hurghada Safaga The business' upside potential in Egypt Coal handling and storage in Alexandria and the Tanash port in Cairo Container handling and storage in Alexandria (Inland Container Depot) Grain handling and storage in Alexandria Fuel-efficient river barges used for the transportation of cargo along the Nile 24 *Direct &/or indirect stakes European Commission ༼ལ ΟΛΙΛΛ HOLDINGS ä القلع#25Nile Logistics (cont'd) Stevedoring The company also runs stevedoring (loading/offloading) activities in seaports The company offers services in three locations: Stevedoring services around Dekheila, Alex Port and Adabiya Suez Port The company handles around 1.2 mn tons of coal/pet coke per year Storage At the company's facilities, customers have access to storage facilities which allow for the safekeeping of various types of products. The company offers: Coal storage facilities The company's grain storage warehouse at Nubareya commenced operations in October 2019 Inland container depot with reefers for products which require storage at refrigerated temperatures commenced operations in August 2016 In July 2020, the depot was connected to the national electricity grid as opposed to the previous reliance on diesel generators 25 25 Coal storage near Alex port SEALAND MAERSK NILE LOGISTICS Inland container depot at Nubareya (near Alex port) Inland container depot at Nubareya (near Alex port) ༼ ΟΛΙΛΛ HOLDINGS ä القلع#26Nile Logistics (cont'd) Grain Storage Warehouse (GSW) - Nubareya, Alexandria Port The grain storage warehouse handled 101k tons in FY21, mostly attributed to 2Q21. The warehouse's performance was hindered due to maintenance work at the main and small locks in the Nubariya Canal during 1Q21. The warehouse resumed operations in 2Q21; however, there was no stevedoring during 3Q21 or 4Q21 as clients rerouted grain shipments from Alexandria to other ports to avoid congestion. 100k tons warehouse storing capacity (with an estimated 6-7 rounds per annum) SENNEBOGEN 26 GSW interior - Nubareya Grain storage warehouse - Nubareya Grain storage warehouse - Nubareya NILE LOGISTICS ༼ ΟΛΙΛΛ HOLDINGS ä القلع#27Highlights ༼ལ ΟΛΙΛΛ HOLDINGS القلعة AFRICAN LEADER IN INFRASTRUCTURE & INDUSTRY#28EBITDA Progression RECURRING EBITDA PROGRESSION (EGP mn) Consolidated Recurring EBITDA Progression Chart* (EGP mn) ―――――――Consolidated EBITDA Consolidated EBITDA ex- ERC 2,085.9 253.4 4,131.9 1,485.1 762 1,205 750 626 320 357 367 2,086 521 510 90 454 329 290 303 328 320 360 214 303 1Q19 2Q19 Q319 Q419 1Q20 2Q20 3Q20 Q420 1Q21 2Q21 3Q21 4Q21 *ERC started operation in 1Q20 4Q20 4Q21 FY20 FY21 329 290 303 328 RECURRING EBITDA PROGRESSION (Excluding ERC) (EGP mn) 509.7 626.2 4Q20 4Q21 1,841.2 1,626.5 FY20 FY21 Excluding ERC, Qalaa recorded a recurring EBITDA increase of 13% y-o-y to EGP 1,841.2 million in FY21, driven by improved profitability across all the Group's subsidiaries with the exception of ASEC Holding. Qalaa's EBITDA excluding ERC was primarily driven by improved profitability at TAQA Arabia, which benefitted from the CNG station expansions and the new industrial connections at TAQA Gas, as well as an increase in household and industrial clients at TAQA Power in FY21. EBITDA performance was also supported by strong results at ASCOM, driven by higher export volumes and an increase in the average price per ton. ༼ད༽ ΟΛΙΛΛ HOLDINGS ä القلع 28#2929 29 Debt Progression As at 31 December 2021 45.00 40.00 ERC's debt stands at c.EGP 42.8 billion (equivalent of c.USD 2.7 billion), contributing c.69% of the total debt 35.00 30.00 EGP Billion €25.00 20.00 QH's SPVs debt related to financing ERC shares stands at c.EGP 3.39 billion (equivalent of c.USD 216 million) 15.00 10.00 QH's holding-level debt and that of all other consolidated entities, excl. ERC & ERC related, stands at c.EGP 19.1 billion. Qalaa's senior debt at the holding level stands at c.USD 216.4 million. 5.00 0.00 Mar'2014 Jun'2014 Sep'2014 Dec'2014 Mar'2015 2014 Jun'2015 Debt Progression Chart (EGP bn) November 2016: EGP floatation Sep'2015 Dec'2015 Mar'2016 Jun'2016 Sep 2016 2015 2016 All Others ERC 16.11 3.39 Dec'2016 Mar'2017 Jun'2017 Sep'2017 Dec'2017 Mar'2018 Jun'2018 Sep'2019 Dec'2019 Mar'2019 Jun'2019 Sep'2019 Dec'2019 Mar'2020 Jun'2020 Sep'2020 Dec'2020 Mar'2021 Jun'2021 Sep'2021 Dec'2021 2017 2018 2019 2020 2021 QH SPVS related to financing ERC Shares S ༼ ΟΛΙΛΛ HOLDINGS ä القلع 42.75#30Financial Highlights - FY21 Consolidated Income Statement 1Q 2021 2Q 2021 3Q 2021 Revenue COS Gross Profit Advisory Fee 7,994.7 10,172.4 12,781.3 4Q 2021 14,877.7 FY 2021 1Q 2020 2Q 2020 3Q 2020* 4Q 2020 45,826.1 10,367.5 7,400.0 (7,442.1) (8,907.8) (11,181.8) (12,338.9) (39,870.7) (9,288.0) (6,717.5) 552.7 1,264.5 1,599.4 2,538.8 5,955.4 1,079.6 682.5 8,753.4 (8,193.7) 559.6 9,429.9 (8,575.7) 854.2 FY 2020 35,950.8 (32,774.9) 3,176.0 Total Operating Profit 552.7 1,264.5 1,599.4 2,538.8 5,955.4 1,079.6 682.5 559.6 854.2 SG&A (478.7) (521.4) (417.2) (494.1) (1,911.4) (368.6) (360.7) (396.2) (623.6) 3,176.0 (1,749.1) Other revenue-Export Subsidy 9.7 8.0 27.6 Other inc/exp-Net 6.8 (1.0) (4.4) EBITDA before one-off charges 90.5 750.0 SG&A (Non recurring) EBITDA 22.8 113.3 (17.4) 732.7 Dep./Amort. EBIT (1,068.4) (1,086.6) 1,205.5 (10.0) 1,195.5 (1,124.9) 36.3 5.0 2,085.9 (57.5) 2,028.5 81.5 7.9 3.5 9.1 34.0 54.5 6.4 3.0 2.3 9.6 (11.1) 3.8 4,131.9 721.9 327.6 182.1 253.4 1,485.1 (62.0) 21.8 (15.0) (7.9) (30.4) (31.5) 4,069.9 743.7 312.6 174.2 223.0 1,453.6 (955.1) (353.9) 70.5 Finance Cost Other Finance Cost Bank PIK 3rd party Shareholder Interest income (851.4) (910.2) (1,152.3) (1,139.2) 889.2 (785.5) (4,419.2) (667.7) (1,126.0) (948.2) (1,498.0) (4,240.0) (349.3) 76.1 (813.4) (774.0) (1,275.1) (2,786.4) (3,699.4) (1,039.5) (1,032.4) (878.9) (695.5) (3,646.3) 49.0 113.1 (4.1) 180.8 338.8 (1,635.4) (1,635.4) (32.9) (34.7) (35.6) (37.3) (140.4) (32.6) (26.4) (26.4) (32.9) (118.4) (80.2) (84.7) (75.2) (104.8) (344.9) (74.3) (79.7) (68.5) (65.4) (287.9) 92.8 136.8 162.9 157.0 549.5 104.6 98.0 92.3 85.6 380.5 Lease Payments (34.3) (38.6) (37.7) (40.3) (150.9) (32.7) (13.7) (66.4) (17.3) (130.0) EBT (before one-offs) (1,812.1) (1,172.3) (1,071.4) 259.1 (3,796.6) (998.5) (1,867.6) (1,721.9) Gain (Loss) on sale of investments 47.0 0.0 (3,635.9) (96.4) (8,223.9) (49.4) Impairments/write downs (11.8) 1.4 (16.2) (281.7) (308.4) (18.5) (15.6) (85.7) (111.1) (230.9) Acquisitions and restructuring 1.2 (1.4) (2.8) (43.5) (46.4) (31.2) (0.3) (1.2) 40.1 7.4 Share in associates' results 9.0 (4.4) 2.7 (46.0) (38.7) (2.4) (8.8) 21.6 (33.2) (22.8) CSR (9.5) (2.7) Provisions (107.0) (107.6) (189.6) (2.2) (1,036.4) (14.4) (6.3) (2.8) (1.5) (26.7) (37.4) (1,440.6) (108.3) (96.8) (52.2) (524.5) (781.7) Discontinued operations ** (14.6) (28.0) (35.1) 0.0 (77.7) Forex 17.4 EBT (1,912.8) Taxes (42.3) NP/L Including Minority Share (1,955.1) 54.9 (1,232.2) (50.1) (1,282.3) Minority Interest (1,476.5) (880.8) NP/L for the Period (478.6) (401.5) 82.8 (1,194.6) (84.6) (1,279.1) (838.5) (440.7) 73.6 (1,077.0) (115.0) (1,192.0) (234.4) (957.6) 228.6 (5,416.6) 150.4 (166.5) 147.4 (982.5) (2,186.4) (1,728.6) (292.0) (600.6) (315.3) (5,708.6) (1,583.1) (2,501.7) (450.4) (2,178.9) (80.4) (4,468.2) 1,158.9 50.9 (9,365.7) (207.4) (3,430.2) (2,278.4) (1,178.0) (1,789.6) (1,735.4) (405.1) (712.1) (443.5) (3,309.3) (2,317.0) (992.3) (9,573.1) (7,020.0) (2,553.0) * Reclassified to add ERC's catalyst depreciation to its cost of sales ** Discontinued operations include: (1) Assets included in 2020: Tawazon 30 SP ༼ ΟΛΙΛΛ HOLDINGS ä القلع#31Financial Highlights - Consolidated Income Statement for the year-ended 31 Dec. 2021 Energy Cement T&L^ Mining Agrifoods QH SPVs Orlent Silverstone NDT CCTO ASCOM Revenue 28,501.8 9,102.0 3,105.0 253.1 937.7 Falcon 1,045.4 Wafra Others Misc.* Grandvlew Elimination FY 2021 279.6 2,604.5 (3.1) Cost of Sales (25,657.6) (7,868.4) (2,767.1) (114.7) (619.0) (714.9) Gross Profit 2,844.2 1,233.6 337.9 138.4 318.6 330.5 (239.3) 40.3 (1,892.6) 3.1 45,826.1 (39,870.7) 711.9 5,955.4 Advisory fee 83.3 (83.3) Total Operating Profit 83.3 SG&A (170.6) (13.8) 2,844.2 (553.5) 1,233.6 337.9 138.4 318.6 330.5 40.3 711.9 (83.3) 5,955.4 (263.0) (223.1) (53.4) Export incentive revenue - - - (272.0) 38.9 (175.6) (33.3) (229.1) 76.0 (1,911.4) 28.7 13.9 81.5 Other Income/Expenses (1.0) 1.9 2.8 0.5 2.3 6.4 EBITDA (before one-offs) (87.3) (14.8) 2,290.7 972.5 117.5 85.0 85.6 155.0 36.2 498.9 (7.3) 4,131.9 Dividend Income 130.5 Non Recurring - Rev. & Costs EBITDA (87.3) 115.6 Depreciation & Amortization (9.4) EBIT (96.7) Finance Cost (400.9) 115.6 (191.1) (2,248.8) 12.7 2,303.4 (3,640.4) (1,337.0) (7.4) 965.1 (25.2) 11.7 (10.3) (26.0) 5.4 (22.4) (130.5) (0.5) (62.0) 92.3 96.7 75.3 129.0 41.6 476.5 (138.3) 4,069.9 (181.1) (217.2) (60.9) (89.4) (97.9) (4.5) (65.4) (52.9) (4,419.2) 784.0 (124.9) 35.7 (14.1) 31.2 37.1 411.1 (191.2) (349.3) (450.1) (59.0) (143.0) (64.2) (18.1) (4.9) (119.3) (3,699.4) Other Finance Cost 338.8 338.8 Bank PIK (140.4) (140.4) Bank fees (ERC-PIK) 3rd Party Shareholder (117.1) (56.8) (559.4) (59.0) Interest Income 264.2 159.8 535.6 7.5 0.2 3.7 0.9 Finance Lease Charges/ NPV LT assets (56.4) (43.1) EBT (before one-offs) (233.4) (173.2) (3,360.3) 826.5 Gain (Loss) on sale of investments 6.2 Impairments/Write-downs (222.1) (43.7) 10.7 (1.0) (0.2) (736.0) 0.1 (327.8) (23.2) (25.0) 189.2- (74.7) (11.0) י י י ין (0.9) 7.8 448.2 (430.3) (344.9) 549.5 (3.1) (150.9) 31.3 296.6 (173.2) (3,796.6) (6.3) 8.0 7.4 (7.6) (0.6) (2.1) 270.3 (308.4) Acquisitions and restructuring (32.5) (15.7) (1.3) (2.1) 3.0 (46.4) (36.5) (0.2) (38.7) Share in Associates' Results Management Fees Layoffs/Severances CSR Provisions (0.3) (55.7) (110.9) (12.4) (112.2) (1.8) (14.4) (1,162.7) 5.0 (1.4) (4.5) 3.6 (1.7) (1,440.6) Discontinued Operations *-* - FOREX EBT Taxes Net Profit (Loss) Net P/L Before Minority Share Minority Interest * Miscellaneous includes UCF & Sphinx Egypt. ^ T&L represents Transportation & Logistics 35.7 (508.3) (1.2) (509.5) (33.4) (370.5) (370.5) (509.5) (7.9) (3,357.5) (5.8) (3,363.2) (1,986.9) (370.5) (1,376.3) (0.8) 206.3 700.1 (2,023.4) (198.0) (9.4) 502.1 (2,032.8) 148.6 (425.2) 353.5 (1,607.6) 1.5 12.7 0.4 1.8 2.8 (174.6) (91.2) (22.8) 36.0 295.6 0.4 (174.3) (50.7) 0.3 (6.8) (0.5) (76.6) (123.6) (90.9) (6.0) (84.9) (29.6) 35.5 219.0 (0.0) (0.0) 166.1 9.4 100.0 5.6 105.6 (1,276.1) 228.6 (5,416.6) (292.0) (5,708.6) (3,430.2) (29.6) 35.5 52.9 1,381.8 (2,278.4) 31 ༼༽ ΟΛΙΛΛ HOLDINGS ä القلع#32Financial Highlights - Consolidated Balance Sheet as at 31 December 2021 Energy Cement T&L^ Mining Agrifoods Others QH Orlent Silverstone NDT CCTO ASCOM Falcon Misc.* Grandview FY 2021 Aggregation Eliminations/ SPVs FY 2021 FY 2020 Current Assets Trade and Other Receivables Inventory 2,108.8 1,784.7 2,061.5 1,328.2 408.7 Assets Held For Sale Cash and Cash Equivalents 4.3 527.7 5,699.0 1,742.3 705.4 5.7 49.8 88.9 420.1 11.4 103.1 104.0 252.0 476.4 45.9 860.4 400.2 118.0 33.0 19.4 14.2 5.2 9.9 244.8 Others 17.4 Total Current Assets 2,113.1 3,640.4 8,169.2 2,503.3 133.4 542.6 387.6 645.5 1,515.3 9,647.2 3,255.1 133.6 6,597.5 17.4 19,650.7 (2,959.6) 0.0 (110.9) 57.0 0.0 (3,013.6) 6,687.6 3,255.1 22.7 6,654.4 17.4 16,637.1 5,755.8 2,650.3 35.1 3,904.3 18.2 12,363.7 Non-Current Assets PP&E 8.6 55,488.9 Investments 5,547.1 Goodwill/Intangible assets 15.0 Others 4,060.0 267.8 39.7 Total Non-Current Assets Total Assets 9,630.7 55,796.5 11,743.8 59,437.1 3,103.4 52.1 413.6 300.8 3,869.9 12,039.2 2,745.9 352.9 761.0 719.0 97.1 767.4 54.0 4.9 1,208.1 87.1 64,856.4 1.6 204.6 3,303.5 5,806.8 761.0 817.7 894.4 1,360.3 352.2 1,119.6 1,507.1 25.2 58.9 704.4 1,320.3 2,835.7 6,141.2 698.0 4,982.5 76,678.1 96,328.8 531.6 (5,578.0) 65,388.0 563.2 67,096.8 610.4 65.3 (4,065.7) (9,046.8) (12,060.4) 763.4 782.8 916.8 1,133.8 67,631.4 69,623.8 84,268.4 81,987.5 Shareholders' Equity Total Equity Holders of the Company 4,163.0 6,092.4 Minority Interest Total Equity 4,015.3 4,163.0 10,107.7 1,284.5 (6,559.9) (1,009.0) (87.5) 642.2 1,600.6 (463.2) (84.1) 1,926.7 (4,959.2) (1,472.2) (171.6) 60.1 0.0 60.1 (1,478.6) (1.5) (1,480.1) 88.0 482.8 570.8 2,553.1 6,192.1 8,745.2 (14,809.4) 3,689.9 (11,119.5) (12,256.3) (10,191.8) 9,882.0 (2,374.3) 12,533.5 2,341.8 Current Liabilities Borrowings 5,671.0 Trade and Other Payables 1,678.0 Shareholder Loan Provisions 230.9 278.6 Liabilities Held For Sale Total Current Liabilities 7,580.0 40,234.8 7,607.7 34,860.0 4,480.9 1,152.0 1,025.7 234.5 4,738.8 2,848.1 1,893.9 46.7 478.8 636.0 2,482.0 1,025.7 2,289.7 25.3 0.2 7,817.9 96.2 990.2 65.1 1,719.8 128.0 939.9 48,525.3 2,870.5 51,395.8 47,788.6 600.6 14,995.1 (535.2) 14,459.9 13,336.0 4,271.7 (1,025.7) 3,246.0 2,675.5 26.8 27.3 15.8 63.6 2,958.0 479.0 3,436.9 2,109.0 2,123.3 740.1 1,113.8 0.7 1,929.4 1.0 1,604.1 70,751.0 0.8 1,789.4 1.8 1.8 72,540.5 65,910.9 Non-Current Liabilities Borrowings Shareholder Loan Long-Term Liabilities Total Non-Current Liabilities Total Liabilities Total Equity and Liabilities * Miscellaneous includes UCF & Sphinx Egypt. ^ T&L represents Transportation & Logistics 7,889.1 1,584.6 - 762.5 289.5 2,833.0 0.8 916.0 920.2 115.2 0.8 9,094.6 2,504.8 2,948.2 7,580.8 49,329.4 10,112.5 10,766.1 11,743.8 59,437.1 12,039.2 5,806.8 130.1 113.2 29.3 243.3 791.7 2,366.6 1,531.8 894.4 1,360.3 28.4 225.6 195.0 333.2 333.2 1,447.0 1,507.1 1.1 465.8 255.1 660.8 2,184.5 2,264.9 704.4 2,835.7 10,459.5 3,478.2 2,894.8 16,832.6 87,583.6 96,328.8 0.0 (2,770.3) 39.9 (2,730.3) (940.9) 10,459.5 708.0 2,934.8 10,227.9 1,040.6 2,466.3 14,102.3 86,642.7 13,734.9 79,645.7 (12,060.4) 84,268.4 81,987.5 32 ༼ད༽ ΟΛΙΛΛ HOLDINGS ä القلع#33Effective Ownership & Paid-in Capital Highlights Paid-in Capital Qalaa Holdings Ownership Stakes TAQA Tawazon ERC ASEC Holding 13.1% 55.9% 54.9% Gozour Nile Logistics ASCOM Grandview Investments 33 27.0% * Capital increase concluded in April 2014 ** Capital increase concluded in September 2015 54.1% (EGP bn) 2005 0.002 2006 68.1% 2007 2008 0.9 1.7 2.8 2009 3.3 69.3% 2010 3.3 2011 2012 67.6% 4.4 4.4 2013 4.4 2014* 2015** 2016 to 1Q2021 8.0 9.1 9.1 ༼ད༽ ΟΛΙΛΛ HOLDINGS ä القلع#34Board of Directors 34 Executive Board Members (Representing CCP) Ahmed Heikal Hisham El-Khazindar Karim Sadek Non-Executive Board Members Magdy El Desouky Philip Blair Dundas (Independent) Mona Makram Ebdeid (Representing CCP) Moataz Farouk Dina Sherif (Independent) ΟΛΙΛΛ HOLDINGS ä القلع#35Important Notice Important Notice/Disclaimer This investor presentation (the "Presentation") is being furnished on a confidential basis to a limited number of sophisticated investors and shareholders for informational and discussion purposes only and does not constitute an offer to sell or a solicitation of an offer to purchase any security. The information set forth herein does not purport to be complete and is subject to change. The information contained herein must be treated in a confidential manner and may not be reproduced, used or disclosed, in whole or in part for any other purpose, without the prior written consent of Qalaa Holdings. Each prospective investor and/or shareholder accepting this Presentation agrees to return it promptly upon request. In considering investment performance information contained in this Presentation, prospective investors and/or shareholders should bear in mind that past performance is not necessarily indicative of future results and there can be no assurance that Qalaa Holdings will achieve comparable results, that diversification or asset allocations will be met or that Qalaa Holdings will be able to implement its investment strategy and investment approach or achieve its investment objective. Unless otherwise indicated, all internal rates of return are presented on a "gross" basis (i.e., they do not reflect the management fees, carried interest, taxes, transaction costs and other expenses to be borne by investors in Qalaa Holdings, which in the aggregate are expected to be substantial). Prospective investors and/or shareholders may, upon request, obtain an illustration of the effect of such fees, expenses and other charges on such returns. Actual returns on unrealised investments will depend on, among other factors, future operating results, the value of the assets and market conditions at the time of disposition, legal and contractual restrictions on transfer that may limit liquidity, any related transaction costs and the timing and manner of sale, all of which may differ from the assumptions and circumstances on which the valuations used in the prior performance data contained herein are based. Accordingly, the actual realised returns on unrealised investments may differ materially from the returns indicated herein. There can be no assurance that "pending" investments described herein will be completed. Statements contained in this Presentation that are not historical facts are based on current expectations, estimates, projections, opinions and beliefs of the Qalaa Holdings. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. Certain information contained in this Presentation constitutes "targets" or "forward-looking statements," which can be identified by the use of forward-looking terminology such as "may," "will," "seek," "should," "expect," "anticipate," "project," "estimate," "intend," "continue" or "believe" or the negatives thereof or other variations thereon or comparable terminology. Actual events or results or the actual performance of Qalaa Holdings may differ materially from those reflected or contemplated in such targets or forward-looking statements. The performance of Qalaa Holdings is subject to risks and uncertainties. Certain information contained herein (including targets, forward-looking statements, economic and market information and portfolio company data) has been obtained from published sources and/or prepared by third parties (including portfolio companies) and in certain cases has not been updated through the date hereof. While such sources are believed to be reliable, Qalaa Holdings nor its affiliates nor their employees assume any responsibility for the accuracy or completeness of such information. No person has been authorised to give any information or make any representations other than as contained in this Presentation and any representation or information not contained herein must not be relied upon as having been authorised by Qalaa Holdings or any of its partners or affiliates. The delivery of this Presentation does not imply that the information herein is correct as of any time subsequent to the date hereof. The use of this Presentation in certain jurisdictions may be restricted by law. Prospective investors and/or shareholders in Qalaa Holdings should inform themselves as to the legal requirements and tax consequences of an investment in Qalaa Holdings within the countries of their citizenship, residence, domicile and place of business. 35 SP ༼ ΟΛΙΛΛ HOLDINGS ä القلع#36༼ག QALAA HOLDINGS ä القلعـ Thank You Amr El-Kadi Nora Ghannam Head of Investor Relations Investor Relations Manager Tel: +20 (0) 2 2791-4440 Tel: +20 (0) 2 2791 4440 Dir: +20 (0) 2 2791-4462 Dir: +20 (0) 2 2791-4458 Fax: E-mail: +20 (0) 2 2791-4448 Fax: +20 (0) 2 2791-4448 [email protected] E-mail: [email protected]