Kommuninvest Investor Presentation

Kommuninvest Investor presentation Disclaimer (cont.) Further, any forward-looking statements will be based upon assumptions of future events which may not prove to be accurate. Any such forward-looking statements in these materials will speak only as at the date of these materials and the Issuer assumes no obligation to update or provide any additional information in relation to such forward-looking statements. These materials are confidential, are being made available to selected recipients only and are solely for the information of such recipients. These materials must not be reproduced, redistributed or passed on to any other person or published, in whole or in part, for any purpose without the prior written consent of the Issuer. These materials are not intended for distribution to, or use by any person or entity in any jurisdiction or country where such distribution or use would be contrary to local law or regulation. In particular, these materials are for distribution in the United Kingdom only to persons who meet the following criteria: 1. (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (ii) persons falling within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations etc") of the Order or 2. persons to whom these materials may otherwise be directed without contravention of section 21 of the Financial Services and Markets Act 2000 (all such persons being referred to as "relevant persons"). These materials must not be acted or relied on by persons who are not relevant persons. In member states of the European Economic Area, these materials are only directed at persons who are "qualified investors" within the meaning of Article 2(1)(e) of Directive 2003/71/EC. These materials and the information contained herein do not constitute and should not be construed as an offer to sell or solicitation of an offer to buy securities in the United States. The securities described in these materials have not been, and will not be, registered under the US Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold within the United States or for the account or the benefit of, US persons (as defined in Regulation S under the Securities Act ("Regulation S")) absent registration under the Securities Act or unless an exemption from the registration requirements of the Securities Act is available. The Issuer does not intend to conduct a public offering of any securities in the United States. These materials are not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States except to qualified institutional buyers ("QIBs") as defined in Rule 144A under the Securities Act who are also "qualified purchasers" ("QPS") within the meaning of Section 2(a)(51)(A) of the US Investment Company Act of 1940, as amended (the "Investment Company Act"), and the rules and regulations thereunder. By accepting delivery of these materials the recipient warrants and acknowledges that it is either (i) a non-US person (as defined in Regulation S) outside the United States or (ii) a QIB that is also a QP. Any failure to comply with the foregoing restrictions may constitute a violation of US securities laws. 3

View entire presentation