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Investor Presentaiton

SWF Institute Transparency Rating Nigeria Sovereign Investment Authority NSIA has invested significant efforts in developing a robust and transparent corporate governance framework. This is because strong corporate governance structures not only foster successful relationships amongst the various organs within the Authority, but also sets the correct precedents to encourage long-term, sustainable corporate growth and partnerships with other institutional and private investors. Norway - GPFG USA - Alaska 2015 New Zealand 2016 2017 USA - Alaska Australia Future Fund Australia Future Fund Bahrain Mumtalakat Canada - AHF New Zealand Azerbaijan Ireland - SIF Singapore - Temasek UAE Mubadala. Chile Nigeria - NSIA Malasyia France SIF South Korea - KIC USA- New Mexico USA - Wyoming USA-TPSF USA - Alabama O Brazil UAE-IPIC China - CIC Timor-Leste Hong Kong - HKMA Angola - FSDEA Trinidad & Tobago UAE - ADIA Kuwait - KIA Singapore - GIC Botswana China - SAFE UAE - ICD China CAD Fund Iran China -NCSSF Qatar QIA Russia Libya - LIA Oman - SGRF Oman OIF Vietnam Saudi Arabia - PIF Mexico Saudi Arabia - SAMA AUE-EIA Venezuela - NDF Kazakhstan Algeria Brunei Panama Norway - GPFG USA - Alaska Australia Future Fund Azerbaijan Canada - AHF Ireland - SIF Singapore - Temasek Bahrain - Mumtalakat UAE Mubadala Kazakhstan - Samruk Chile Kazakhstan Samruk South Korea - KIC USA - New Mexico USA - Wyoming Malasyia UAE-IPIC Nigeria - NSIA USA - Alabama Brazil Hong Kong - HKMA Timor-Leste Trinidad & Tobago Angola - FSDEA China - CIC Kuwait - KIA Singapore - GIC UAE - ADIA Botswanal China - SAFE Qatar - QIA Russia UAE-ICD China - NSSF Libya - LIA Iran Vietnam Saudi Arabia - SAMA Saudi Arabia - PIF Oman - OIF AUE-EIA Kazakhstan - NOF Bahrain Mumtalakat Azerbaijan Singapore - Temasek UAE Mubadala Chile Panama - FAP Kazakhstan - Saruk Canada - AHF New Zealand Norway - GPFG Nigeria - NSIA Malasyia South Korea - KIC USA - New Mexico USA - Wyoming USA-Texas USA - Alabama Brazil USA - Texas PUF China - CIC Timor-Leste Hong Kong - HKMA Trinidad & Tobago Ireland- SIF USA - North Dakota Angola - FSDEA Russia-RDIF UAE-ADIA Kuwait - KIA Singapore - GIC Botswana Pula Fund Libya LIA China - SAFE UAE ICD China - CAD Fund Iran - NDFI Qatar - QIA Russia - NWF Oman - SGRF Oman - OIF Vietnam. Saudi Arabia - PIF Mexico Saudi Arabia - SAMA China NCSSF AUE-EIA Kazakhstan - NOF UAE - ADIC Algeria Algeria Kiribati Mauritania Venezuela - FEM 0 2 4 6 8 10 Brunei Kiribati Mauritania 0 2 4 6 8 10 Brunei Kiribati Mauritania 0 2 4 6 8 NSIA had no Board between Q3 2015 and Q2 2017, which accounted for the downgrade on the SWF Transparency Rating in 2016. However, the reconstitution of the Board was reflected in the 2017 year end ranking. Source: Sovereign Wealth Fund Institute, 2013 to 2017 *The Linaburg-Maduell Transparency index is a method adopted by the Sovereign Wealth Fund Institute for rating 'transparency in governance' in respect of Sovereign Wealth Funds 10 18
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