Investor Presentaiton

Emerging from the Crisis: Another Opportunity The global financial crisis and the Jan 25 uprising have left Sahl Hasheesh with the opportunity to emerge as the destination of choice for investors Comfortable Cash Reserves, EGP 162 million ERC can comfortably spend on aggressive expansion plans for the coming 3-4 years even if receivables and sales performance remain below pre- crisis levels. Flexible Suppliers and Contractors Hard hit suppliers and contractors are willing to make attractive concessions at discount prices and favorable payment terms on projects that continue moving forward. Low Commodity and Raw Material Prices Labor and materials prices have fallen significantly from highs, creating a uniquely attractive infrastructure and construction investment climate to those with the cash to proceed. Developers Seeking Co-development Partners or Public Markets Liquidity Some privately-owned developers are looking to monetize their investments through the public markets. This may represent a land bank expansion opportunity. STRATEGY Growing strategic real estate projects: Sawari marina, Old Town commercial center and Jamaran are key projects that drive ERC's second revenue stream, increase Sahl Hasheesh's attractiveness and encourage widespread development. Supporting investment to boost the destination: Aggressive destination marketing will position Sahl Hasheesh as the destination of choice for visitors as well as developers resuming investment as tourism and second- home purchases regain momentum. Expanding land sales to key developers: Attracting investments through tailored products to developers' needs will be key to turn around the slow- down that started in 2008. Contingency Planning: In the unlikely event the TDA does not reverse its withdrawal of the Phase III land area, ERC has been actively building the capacity to shift the business model from a pure master developer to a mega B2C developer with over 3 million m² available for development over the next 9-12 years. ERC 11 Investor Presentation 2012 Egyptian Pesorts Company

View entire presentation