Investor Presentaiton

Fundraising Equity capital raising of £732m. • The fundraising will: - reduce pro forma* net debt to £1.1 billion. - reduce pro forma* gearing from 103% to 42% -strengthen the balance sheet to protect against further falls in value -support investment grade rating 3i ― enable the Group to manage existing portfolio over time to maximise returns - provide capital for new investment assets at a valuation low point. Dividend to be reset to retain more flexibility Significant new investment by employees alongside shareholders Pro forma figures reflect 31/3/09 position adjusted for QPE transaction and assumed equity fundraising of £732m (pre expenses)

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