Investor Presentaiton

Differences between sukuk and conventional bonds Parameter Issuer Investor base Sukuk A Sukuk issuer has to be engaged in Sharia'a compliant business activities Enjoys a wider investor base from both Islamic and conventional investors Conventional interest bearing instrument An issuer of conventional bonds is not limited in its business activities Conventional bonds can mainly tap conventional investors Ownership Administrative costs Financing costs Investors take ownership of an underlying asset or pool of assets May incur additional legal fees and Sharia'a advisory fees The increased investor pool can create larger demand and help achieve more competitive pricing A conventional bond represents the financial obligation (debt) of the issuer No additional administrative costs associated with a conventional issue A comparatively smaller pool of conventional bond investors may imply less demand for the instrument 8

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