Improving Governance in Africa

Feb 2016 USD 1 billion 1.125% due March 2019 US Treasuries + 29.5bps Midswaps + 29bps AfDB global benchmarks Quality and rarity continue to drive successful issuance Apr 2016 QUE AFRICAINE DE DEVELOPPEMEN Jul 2016 Central Banks and Official Institutions Bank Treasuries 8.3% Asset Managers/Fund 7.8% Managers Corporates 1.7% Sept 2016 USD 1 billion 1.000% due May 2019 US Treasuries + 20.3bps Midswaps + 13bps AFRICAN DEVELOPMENT USD 1 billion 1.250% due July 2021 US Treasuries + 23.2bps Midswaps + 24bps USD 1 billion 1.125% due September 2019 US Treasuries + 26.9bps Midswaps + 9bps Central Banks and Official 80.8% Institutions Asset Managers/Fund Managers Bank Treasuries 7.3% 20.1% 68.3% Central Banks and Official Institutions Bank Treasuries 20.5% Corporates 3.8% Asset Managers/Fund 15.3% Managers Insurance Companies 1.4% Insurance Companies 0.4% Africa 12.0% Africa 14.3% Europe 39.0% Asia 11.9% Americas 37.0% Europe 48.4% Americas 20.4% Europe 48.8% Solid reputation High quality of execution Asia 17.0% Asia 6.9% Pristine AAA rating and fundamentals Africa 17.0% Americas 27.3% Central Banks and Official 64.2% Institutions Asset Managers/Fund 18.1% Managers Europe 37.7% Bank Treasuries 10.9% Corporates 3.8% Middle East 2.5% Africa 2.9% Asia 11.1% Americas 45.8% A very strong development mandate and business profile 67.2% 36

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