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Investor Presentaiton

III Key Investment Highlights 6 Robust Financial Performance Effective working capital management has been a key success factor to ISP's performance DOH 2014 2015 2016 2017 Inventory 35 Days Receivables Payables CCC 85 Days 111 Days +9 Days 32 Days 85 Days 29 Days 83 Days 34 Days 83 Days 128 Days 114 Days 112 Days +5 Days Supplier contracts have the option of credit terms ranging from 120-150 days or a cash discount of 5-6% Net Debt to Equity Ratio 215% 65% 17% Interest Coverage Ratio¹ 3.5x 2.8x 2.5x 3.1x -2 Days - 11 Days Facilities Breakdown | % of Authorized Limit Arab Bank Others Mashreq 5% 4% CIB 18% Bank 6% Audi 7% 2014 2015 2016 -30% 2017 2014 2015 2016 2017 Net Debt | EGP mn Financial Lease Expense | EGP mn QNB 7% Dec-2017 12% Credit Agricole EGP 1.7 bn 237 163 7% 54 65 66 58 9% 36 Ahli United Bank 8% United Bank 9% 8% (133) 2014 2015 2016 2017 2014 2015 2016 2017 Barclays HSBC National Bank ibnsinapharma (1) Calculated as EBITDA over interest expense Source: Company Management Strictly Private & Confidential 19
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