Investor Presentation Q3 2016

ERC: Q3/9M 2016 Developments & Overview Slowdown in Revenues On a nine-month basis, the company recorded revenues of EGP 65.8 million, down 79% y-o-y. The overall drop in revenues came largely on the back of significantly lower land plot sales, characteristic of the B2B land sales business model. Despite an overall slowdown, ERC realized revenues from land and unit sales to both sub- developers and retail of EGP 32.9 million during 3Q 2016, some of which were from previous land sale contracts. Additional sales contracts of EGP140 were achieved early 2017. Cash Collections Cash collections from sub-developers and retail buyers were 74% lower y-o-y in 9M 2016, coming in at EGP 41.1 million, mainly due to the slowdown in retail buyers' and investors' payments caused by the recession in the tourism sector. Meanwhile, receipts from community management and services for the same period declined by 45% y-o-y to EGP 16.3 million. Cash Position The company's balance sheet remained liquid at the close of the nine-month period, with cash standing at EGP 98.4 million. Sawari Marina Last year, the company cleared the final obstacle to launching the Sawari marina project after receiving approval from the Tourism Development Authority (TDA) to redefine the boundaries of Sahl Hasheesh's Phase 2 to include Sawari's 1.1 mn sqm initial phase. Phase 1 will center around a world-class yacht club and marina with room for more than 330 boats and yachts. The development will also house 5-star hotels and more than 1,000 residential units, in addition to boutiques and entertainment venues. TAWAYA Tawya Project was launched by ERC subsidiary, SHC, in April 2015 and unit reservations have so far seen very good demand from the market. The project's contracts value has reached EGP 78 million. The project shell is fully constructed, and internal finishing is underway and set to be completed within a 12-18 month period. Jamaran The company's Jamaran development sold out towards the end of 2014 and has set ERC on course to realize c. EGP 100 mn in revenues over the coming two-three years. EGX 30 ERC is now back on The Egyptian Exchange's most famous and followed index, the EGX 30, awarding the company greater exposure to local, regional, and international investors, on both the retail and institutional levels. 5 Investor Presentation Q3 2016 ERC Egyptian Resorts Company

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