Investor Presentaiton

" Important notice This Presentation has been prepared by Région Ile-de-France for information only and should not used for any other purpose; it does not constitute and should not be considered or interpreted as an offer to subscribe the notes or as a solicitation of the interest of investors to subscribe the notes as described in the Presentation (the "Notes"). [The offering and sale of the Notes in France will only be available to qualified investors (excluding individuals) within the meaning of and in compliance with article L. 411-2 of the French Code Monétaire et Financier. The Notes are not intended for public offering in France.] The Recipient is acting on its own behalf. The Recipient has decided and will decide either alone or with the assistance of the Recipient's own advisers, whether to purchase the Notes, and has evaluated or will evaluate the appropriateness and suitability of an investment in the Notes. Region Ile-de-France advises the Recipients to consult any useful regulatory or contractual documents which the Recipients wish to consult. Investment in the Notes involves financial risk. The Recipient has sufficient knowledge and experience in financial and business matters to analyse and evaluate the merits, suitability and risks of investing in the Notes. The Recipient is capable of bearing the risks relating to its investment in the Notes. The Recipient has made all legal, tax, accounting, regulatory, financial and other assessments it deems relevant in connection with its purchase of the Notes and has conducted its own analysis of the financial situation, business and solvency of the Région Ile-de-France and of the Notes prior to making any investment in the Notes. It is each Recipient's responsibility to confirm that it is authorized to subscribe or invest in the Notes. Information in this document are indicative and in draft form. They may evolve, be complemented or modified after the date of this document. This Presentation may not be forwarded or distributed to any other person and may not be reproduced, in whole or in part, in any manner whatsoever without Region Ile-de-France's prior written consent. The distribution, reproduction or partial reproduction of the Presentation may be restricted by law or regulation in certain countries, and accordingly, this Presentation should not be distributed or reproduced, even partially, in those countries. Région Ile-de-France does not represent or warrant that the Notes will be lawfully offered in compliance with any applicable registration or other requirements in any such jurisdiction or pursuant to an exemption available thereunder, and does not assume any responsibility for facilitating any offering in any such jurisdiction. The Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"). The Notes may not be offered, sold or delivered, directly or indirectly, within the United States or directly or indirectly to U.S. Persons except in accordance with Regulation S under the Securities Act ("Regulation S"). Région Ile-de-France shall not bear any responsibility in the case where a Recipient distributes or makes any use of this Presentation without its authorisation and without the relevant authorities' authorisation in the relevant jurisdictions. The Recipient agrees and accepts that the Presentation is confidential and must not be disclosed to any third party (except for the Recipient's external advisors on the condition that such external advisors respect the obligation of confidentiality) and must not be reproduced, in a whole or in part, without prior written consent of Région Ile-de-France. Région îledeFrance © Finance Department - Region Ile-de-France 2

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