Investor Presentaiton

MENA VALUE FUND* الواحة كابيتال WAHA CAPITAL ASSET MANAGEMENT - FUNDS CREDIT OPPORTUNITY FUND PRIVATE EQUITY FUND - Initial seed capital of AED 184 million ($50 million) deployed - Focuses on long-term capital appreciation by investing in equities and other securities in MENA. - Investment criteria considers business quality and sustainability, effective capital allocation, balance sheet strength, management quality and valuation upside/limited downside risk of the underlying stock - Returned 27.54% since inception and 9.5% in H1 2017 - Establishing Credit Opportunities Fund by committing AED 184 million ($50 million) seed capital. - The Fund will employ a cash-flow based approach to lending, providing financing and lending solutions tailored to the specific needs and requirements of borrowers and their respective business plans - The Private Debt team will structure its financing into a broad spectrum of instruments which include secured loans, uni-tranche and multiple tranche loans, mezzanine debt, bonds, preferred shares, convertible loans and bonds, convertible preferred shares, equity, warrants and profit participations - Establishing Private Equity Fund including the transfer of an existing portfolio investment, Anglo Arabian Healthcare - Mandate to deploy capital into high growth investment opportunities across the Middle East and North Africa, with a focus on GCC markets - - PE platform driven by IRR's, value creation, capital appreciation and cash-on-cash returns - Provides investors with access to attractive opportunities in the MENA region * offered to third parties 30

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