May 2016

Contribute to the responsible business practices of all economic actorson the African continent

Part I: AESG Group dedicated to extra-financial performance in Africa

1/ Background

2/ Current market offer

Part II: AESG Group’s offer

1/ AESG Advisory Services Offer

2/ AESG Rating Services Offer

CONTENTS

Part III: AESG Group structure & gouvernance1/ Founding team2/ Advisory Board

Purpose: We, the founders, wish to contribute to the promotion and the achievement of responsible finance andbusiness practices by all economic actors active on the African continent

The idea to create AESG Group is based on two observations:

Background

- A growing demand from economic actors on sustainability and on how to better integrate these aspects into their operations

- The absence of a leading player on our two types of services, and exclusively dedicated to the African market

Objective: Provide a range of services contributing to an inclusive and sustainable development, based on international

standards and adapted to the contexts of the countries and their national policies.

Morocco is in advance and is an exemple with regards to CSR Moroccan politics has the ambition and vision focused on Africa, benefits from political stability and favourable sociocultural

conditions An ideal geographical location and performant infrastructure especiallly regarding telecommunications and transport to

Europe and the continent.

« Morocco confirms a geopolitical vision that bestows the country with an essential role in the future of an emerging Africa », His Royal Highness King Mohammed VI

Headquartered in Morocco

AESG Group’s offer is based on 2 distinctive activities:

The offer of d’AESG Group

Investors and asset managers:

(banks, pensions funds, investment

funds,...

2 - Services for continuous

improvement of business

practices:

1 – Rating services for investment

decision making:

Organisations:(public and private

companies, organisations, Ministries &

authorities ,...

Advisory

Our 4 USP’s:

1. AESG Group is the only agency with francophone origins, facilitating the development on French speaking markets, and at the same time, the diversified origins of the founders and partners makes our firm relevant in any lingustic and cultural context

2. AESG Group is positioned as an intermediairy between the best sustainability practices learnt during more that 10 years by the founding partners, and the emerging panafrican markets.

The konowledge of local contexts and the understanding of local challenges by the founding parners and the membersof the partner network composed of nationals from various European and African countries

Combining diverse experiences and expertise of targeted markets and the capacity to develop services that correspondto best international standards while adapted to emerging markets

Benefits from the broad experience of the members of the Advisory Board

3. AESG Rating is the only sustainability rating firm exclusively focused on Africa and based in Africa.

4. The services of AESG Advisory are focused on providing a qualified opinion on client performance that guarantee that it will be in linewith the expectations of the local markets as well as with national and international requirements in terms of understanding,thoroughness and relevance for all stakeholders

A full range of services

Rating services for decision

making in investments

Investors and asset managers: banks, pension funds, investment funds,...

1

2- Strategy & Methods

1- SERVICES

2- Rating

AESG Rating offers services throughout the investment decision process:

« the social responsability of investors is dependent on and conditioned by the Social Responsibility of companies. Taking this into account, we follow with intrest and

satisfaction the moroccan companies that volontarily have taken this road » His Royal Highness, King Mohammed VI

• Annual ratings of sector panels of approx. 5 -10 companies. The rating of a company takes 6 - 7 days onaverage

Added value of AESG Rating: Solid experience of extra financial ratings and investor relations. A parternshipwith an african financial ratings firm allows us to offer a large line of both financial and extra-financialservices

We provide rating of sustainability performance and extrafinancial risks of organisations within 7 areas:

Labour Practices - Human Rights - Environment - Gouvernance - Community Involvement anddevelopment - Fair operating Practices - Consumer/Client issues

The ratings are made by sector, on the basis of a criteria framework adapted to each sector

The ratings cover a rating scale of 20 levels, from AAA to D

1- SERVICES

1. Ratings

The first building block of any sustainable investment strategy is accurate data.

2. Strategies & Methods

Our services :

Integration of ESG risks and opportunities in the investment process

The creation and management of SRI Funds that can be thematic, « best in class » or exclusion

Engagement in dialogue with investors on relevant ESG issues and continous improvement

1 - SERVICES

We facilitate investments in Africa that purposefully integrate ESG (Environment, Social and Governance) criteria. We aim to stimulate our clients' best new developments with our thinking on how to make sustainable investment and integration of ESG factors happen. More effective ESG enables our clients' to build long-term value

• We do not manage money. We advise investment professionals on moving up the learning andexperience curves in ESG. We design sustainable investment policies, strategies and indexes that createpositive impacts through smarter sustainable investment ecosystems, adaptive ESG skill sets and ESGarchitecture.

• In the medium term, we have the ambition to develop sustainability indexes for regional and nationalstock exchanges

Added value of AESG Rating: Good knowledge of the actors and the contexts

Services for continuous

improvement of business practices

Organisations: private and public companies, organisations, Ministries, authorities,...

2

Advisory

4-Communication,Tools & Reporting

AESG Advisory offers services for continuous improvement based

on 4 areas:

3- Evaluation & Performance Assessment

2- Stakeholder involvement &

Training

1- Strategy& Approaches

2 - SERVICES

Sustainability Strategy

Formulate a strategy adapted to the activity, inline with local and international requirementsand benchmarked to competitors

2 - SERVICES

1. Strategies & Approaches

Approches for implementation

Formulate an approach to implement the stategywith a participatory method, resulting in aconcrete implementation with prioritised actions

Example:• Accompany an automotive industry group present on several continents on the updating of their

sustainability strategy. Based on a materiality matrix and in line with ISO26000, the existingapproach, we identifyed and prioritised the areas to integrate. We set-up a monitoring systemallowing each country to dispose of an action plan adapted to their context while targeting thecommon performace level of the group.

Added Value of AESG Advisory:• Experience in management of complex projects with interaction with various hierarchical levels and

country contexts. Solid expertise on methodology and the capacity to understand various sectors andtheir challenges.

2. Stakeholder involvement & Training

Stakeholder involvement

Mapping and consultation of stakeholders for aspecific project

Construction of stakeholder panels and /or therunning of consultation sessions on specificthemes

Training

Establish internal comprehension andconsensus on key sustainability challenges

Conduct sessions with management andvarious internal actors involved in themonitoring of sustainability performance.

2 - SERVICES

Example• Training of a CSR committee in a Energy company on sustainability and their specific issues and

challenges as a sector

Added value of AESG Advisory:• Experience from training of managers at all levels and groups of employees, internal and external

committees. Through our network we have access to many actors from the civil society, economic andpolitical and academic sphere in the regions where we operate.

t

3. Evaluation & Performances measures

External opinion on the performance of a sustainability strategy:

Sustainability Asessment: based on an internal framework or external (ISO26000, Global Compact,..) forcontinuous improvement of policies and practices. Provides a thorough and qualified view of the company

Requested CSR Rating: Assessment accompanied with ratings for external communication purposes(shareholders, clients, investors, etc.)

Evaluation & Performances measures

2- SERVICES

Example:• Assessment et rating of the maturity level based on ISO26000 of an african subsidiary of a mining

group that enabled the compairison of the performance with other entities within the group.• Rating of an african subisdiary in Agroindustry for promoting extrafinancial performance to a

potential investor. Combined with a financial Rating.

Added value of AESG Advisory:Solid experience of assessment and rating methodology. Expertise and understanding of financial dataand investor relations.

4. Communication, Tools & Reporting

Business accountability as a means of achievingdevelopment goals

Communication content and tools that contribute toshared knowledge and understanding bothinternally and externally about challenges andpriorities

We work with partners in our network that have the expertise in all areas of comminication related to sustainability

Reporting as facilitator for trade and investment:

Reporting can vary from editing of sustainabilityreports to turn-key solutions up to finished reports(GRI4...).

Tools that facilitate the collection andconsolidation of extra financial data as well astools for mesuring performance

Tools & Reporting

2- SERVICES

Example:• Structuring of a CSR report of an african mining group: reporting protocol, indicators, training sessions and

benchmarking• Assessment and review of the CSR report of an african bankAdded value of AESG Advisory:Solid experience and knowledge of reporting methods and standards. We are accredited for the verification ofextra-financial data by Cofrac (France). We have a network of communication partners.

Communication

Localisations

Offices: - Casablanca – HQ- Cotonou (2015) - Abidjan (2016)

- Brazzaville (2017)

Partners:-Sweden-France

-Morocco-Côte d’Ivoire

- Congo

GEOGRAPHICAL LOCATION

The 2 founding partners of AESG Rating have a broad professional experience and can rely on a network of experts and consultants that has been developed during the last 10 years

THE FOUNDERS

Ann-Katrin Dolium Hervé Gbego

Ann-Katrin worked for 9 years at VIGEO, theleading European ESG Rating agency, first as seniorconultant, then in charge of Institutional relationsand lastly as Head of Africa-MENA markets

Hervé worked at the financial department ofl’Agence Française de Développement (AFD) andas a consultant in audit firms where he workedwith companies such as Shell, Charmant France,Sita France, as well as many SME’s

She has 15 years experience from international project managementof which in over 15 african countries. Her expertise covers evaluationsand ratings of ESGl performance as well as strategy and managementof ESG performance. Clients are international companies anddevelopment banks as well as SRI investors and investment funds.Ann-Katrin is a member of I&P investment fund and the et co-authorof the guide ”CRS practices by French companies in Africa”. She holdsa BA in Political Science and African studies and a Master inSustainability Management. Ann-Katrin is Swedish and fluent inEnglish and French .

He has been engaged is ESG issues for more that 10 years andconvinced that companies will have to take more responsabilities inthe environemntal and social areas. After obtaining a Master inSustianability and organsiations, he became an active member andthen administrator of the Sustainability club of the the NationalAssociation of Chartered Accountants. In 2011 he founded ComptaDurable, the first accounting firm dedicated to sustainability and ESG.www.compta-durable.com .

Hervé is a chartered accountant registered at the order of certifiedaccountants of Paris, France and Cotonou, Benin.Hervé is French and Beninois.

ADVISORY BOARD

xxxGilles Genre-Grandpierre is an expertin investments and project financesince 1993 in the AFD and Proparco,the French financial institution fordevelopment cooperation.

Nicole Perkins in an expert onenvironmental policy and management,and sustainable socio-economicdevelopment. She is American, thefounder of Planet H2O and has beenbased in Morocco since 2002. She workswith the public, private and civil societysectors to develop green growth.

Alain Dolium is an expert in digitaltransformation and economic innovation.He is the co-founder of South MobileServices, consulting firms on DigitalTransformation in Africa-Carribean-Mercosur. He is mentor of the FrenchBusiness Tech in Abidjan

Mohamed Laqhila is an expert of development in theMediterranean region. He is le founder and CEO ofthe AMP Consulting Group, dedicated toaccompanying companies and business leaders onfinancial issues. He is the Vice-President Finances andConsulting Méditerrané, a regional support networkfor entrepreneurs and their development andfinancing in the Méditerranan region

Jalal Hachimi Idrissi is an expert in labour relationsand working conditions. Jalal has long experiencefrom a large moroccan international corporations. Heis a member of the Employment and Social relationscommission of CGEM, of the AGFF HR Directorsassociation and of the Moroocan Institute for SocialAudits.

Not yet finalised

FOR MORE INFORMATION, CONTACT:

Ann-Katrin Doliumann-katrin.dolium@aesg-group.com+46 76 328 00 67

Hervé Gbegoherve. gbego@aesg-group.com+33 6 11 69 25 53

HQ : 104 Bis, Boulevard Abdelmoumen, Etage 4

Casablanca-Maroc