FEB 7 -FEB 8, 2018THE SHELBORNEHOTEL, SOUTH BEACH, MIAMI, UNITED STATES

The Shelborne Hotel, South Beach, Miami, United StatesFeb 7 - 8, 2018

Following the success of TXF’s inaugural 2017 Americas Conference, TXF is back with aplomb, attracting 350 leading lights to SouthBeach, Miami, for 2 days of networking, learning and entertainment.

Senior leaders from SOEs, project sponsors, borrowers, EPC contractors, exporters, ECAs, DFIs, SWFs, traders, producers, commercialbanks, pension funds, private equity firms, infrastructure funds, lawyers and insurers will gather to discuss key industries and markets.

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2018 SPONSORS

The need to come together, discuss, innovate and find new projects is very real in this market; wherehuge populations, vast swathes of land and growing economies create a constant stream of demand fornew projects and upgrades to existing assets. TXF is a specialist in this sector and our flagship Americasconference will include:

- Small breakout sessions, idea labs and invitation-only meetings by region & sector

- Innovative session concepts grounded in actual deal-making scenarios

- Networking drinks receptions, breakfast briefings, lunches, a concierge service and much more

We will host behind-closed-doors meetings designed to foster honest debatewith your industry counterparts:

1. ECA borrowers

2. Project sponsors

3. Non-Bank investors in project and trade finance

4. Private market insurers

Why txf?Why txf?

Have your say: Closed door meetingsHave your say: Closed door meetings

Confirmed Speakers:Confirmed Speakers:Victor LuqueManaging Director forState owned Enterprises Ministry of EnergyMexicoEsteban Pérez AndrichNational Director for Renewable Energy Ministry of Energy and Mining, ArgentinaAntje GibsonVice President & TreasurerRoyal Caribbean Cruises

Sabrina BorliniGlobal Head ofSyndicationsInternational FinanceCorporation (IFC)Sarvesh SuriDirector of OperationsMIGA - MultilateralInvestment GuaranteeAgencyPablo Otin VPEmerging Markets8minutenergyJesse LawChief of StaffUS Ex-Im Bank

Bruce DrossmanSenior Vice PresidentGE Energy Financial ServicesJeffrey S. CainSr. Vice President - Project and Export FinanceSiemens Financial ServicesChris PattersonExecutive Director: Structured Finance (Americas)Caterpillar Financial ServicesCorporation

Jozef HenriquezHead of Resource Mobilization Inter-American Investment Corporations (IIC)

Lenny FloriaHead of Regional Treasury andStructured Finance for the AmericasNokiaTimothy EffioMarket Director, Latin AmericaAES Energy Storage

Leandro AlvesPresident & COOFalvez EnergyJuan WalkerNew Business LatamMainstreamRenewable PowerRafael Valdez MingrammManaging Director for Latin America & The CaribbeanEnvision Energy International

Topi VesteriDeputy CEOFinnvera plc

Yoshitaka FukushimaAssistant DirectorNippon Export InvestmentInsurance (NEXI)

Maria HulténDirector Export FinanceSwedish Export CreditCorporation (SEK)Jens KruseHead Of UnderwritingLatin AmericaEuler HermesAktiengesellschaft

Reinier DouqueHead Agribusiness,Food & WaterFMO Development BankAlejandro FernandezFinance ManagerBunge

Jared KotlerHead of Political Risk and CreditValidus Speciality

Richard Simon-LewisHead of Civil, Infrastructure & Energy & InternationalBusiness DevelopmentUK Export FinanceKatherine WeberHead of AmericasCountry RiskBMI ResearchThomaz FavaroAssociate Director,Brazil & SouthernConeControl Risks

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Day OneWednesday February 7th

Day One

Keynote ministerial address: Realising the Argentinian potentialThe pro-business administration of Mauricio Macri has opened up a wealth of opportunity for international investment and put Argentina’s economy back on track. Following the October elections we look at how the government intends to encourage investments in priority sectors, including key public sector investments and private sector growth opportunities

Weapon of choice: Balancing the borrower’s bookThis session gathers borrowers from across the Americas to discuss the role of various debt instruments in meeting their investment objectives, while maintaining balance sheet health. What considerations are taken when opting for ECA-supported debt, capital markets, bonds, bank loans and other products? We present hypothetical deal scenarios and ask the borrowers how they would go about financing them

Audience response surveyDelegates’ thoughts and forecasts on trade across the Americas for 2018/2019. A chance to have your say: this anonymous, real-time survey gauges the opinion of the audience on the key issues in the industry. All attendees receive an annotated report of the results after the eventModerator: Dominik Kloiber, Co-founder, TXF

Networking coffee break

A year in the Americas: Status updateYour go-to guide for navigating the Americas, we cast an eye over the past year and evaluate the changing geopolitical landscape for the next 2 years. Key factors that influence the regional balance and trade relationship between the continents will be addressed:

- Brazilian 2018 election uncertainty, local currency fluctuations and reputational restoration

- US sanctions on Venezuela’s Nicolás Maduro and the ramifications for assets in the country

- Country analysis: Argentina’s rising star status, Colombia and Chile’s growth, and the political outlook across the region

- The Trump affect: What has happened so far, how does this affect trade, international relations, US policy lenders EXIM and OPIC, and US outbound and inbound investment?Katherine Weber, Head of Americas Country Risk, BMI Research

Chairman’s introJonathan Bell, Editor in Chief, TXF

Wednesday February 7th

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Export Finance Stream - Room 1 Commodity Finance Stream – Room 2 Idea Labs: Project Finance - Room 3

Exporters Olympics: A global raceLeading exporters from different sectors across the globe reveal their investment strategies in key markets across the Americas. We ask them to evaluate working with the different ECAs, rules regarding OECD and non-OECD exporters, and their financing requirements to capitalise on growth opportunities. Crucially is the ECA product doing enough to support their endeavours? Are there any upgrades they would like to see?Bruce Drossman, Senior Vice President, GE Energy Financial ServicesJeffrey S. Cain, Sr. Vice President - Project andExport Finance, Siemens Financial ServicesChris Patterson, Executive Director: StructuredFinance (Americas), Caterpillar FinancialServices Corporation

The changing face of US commodity trading This collaborative panel brings together alternative and institutional investors, US domestic traders and global traders, to examine how US based trading is evolving:- With low commodity prices, compliance and regulation affecting the traditional bank market, how will the role of alternative investors as a source of liquidity evolve? What is the effect of Asian and Chinese banks entering and changing the market?- How do US domestic traders see their role expanding, and what does this mean for global traders?- Is global demand back to a level where we will see increased investment in Latin American production, and where will the most growth come from?

Latin American Project Pipeline 2018 – The New Market Opportunities and Financing TrendsGrowth in the Latin American project finance was flat in the first half of 2017 at $13.8 billion down $0.2 billion on the same period in 2016. How will the market grow in 2018? Scanning the market to highlight the projects coming into tender and procurement in 2018 across Latin America and identifying new opportunities for project finance to engage with governments and project sponsors. What are the new syndicated deals coming on stream over the next year and where are the opportunities foreign lenders and infra investors to partner with domestic banks in the financing of new deals? What new trends are emerging in project finance in the region; are we seeing a rise in the non-bank market, including green project bonds, private equity and infrafunds in the market?

From toll roads to a modern ColombiaThe government 4G concession plan hasset a precedent for infrastructure investmentin Colombia, this is just one facet of a wider$70 billion plan for 2035 that includes road,rail, airport and port projects. We take a lookat the plethora of lending opportunitiesaround this, and who is in place to capitalizeon this. Will the May 2018 election affectproject completion? Does the Farcdemobilization present room for increasedagricultural production?

Networking Lunch

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From farm to fork: Strategizing sustainableagribusiness modelsSustainability is key when it comes to agribusiness; we examine the key technological and strategic advances in the field and subsequent investment scenarios. With technology driving production costs down, and growing populations increasingdemand, how do we mitigate the potential impact of over-production? Climate change and unpredictable weather patterns play a pivotal role, how can we mitigate risk and what is the role of agencies and private insurance in this? Where are the opportunities for equipment suppliers?Reinier Douque, Head Agribusiness, Food & Water, FMO Development BankAlejandro Fernandez, Finance Manager, Bunge

X marks the spot: Global ECA coverage across the Americas Our panel of global ECAs give the latest on planned coverage updates in existing and new markets. We ask how they will innovate their products and aim to better serve their nation’s exporters? What is the role of Latin American ECAs including Bancomext going forward? Will BNDES continue to dominate in Brazil? How does the current status of US EXIM fit into the picture?We conclude with an audience survey on theeffectivity of the ECA product in key markets and high risk territories across the AmericasTopi Vesteri, Deputy CEO, Finnvera PlcJesse Law, Chief of Staff, Us Ex-Im BankYoshitaka Fukushima, Assistant Director, Nexi - Nippon Export Investment InsuranceJens Kruse, Head Of Underwriting Latin America, Euler Hermes AktiengesellschaftRichard Simon-Lewis, Head of Civil, Infrastructure& Energy & International Business Development,UK Export Finance

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Export Finance Stream - Room 1 Commodity Finance Stream – Room 2 Idea Labs: Export Finance - Room 3

The public mandate: PPP infrastructure projects Latin AmericaAcross the region huge urban infrastructureprojects, transit, road, airport, port, rail,education, health and sanitation projects arein high demand from governments whichview them as vital to deliveringon their election manifestos. Wegather government departments,project sponsors, developersand lenders to discuss the mostcost effective ways of ensuringproject delivery. What canLatin America learn fromthe Canadian PPPexperience?

Built to last: Sustainable supply chain financingSupply chain financing has seen fast growth over the last 10 years, spurred on by working capital needs and technological efficiencies. We examine the state of the market today and how continued growth can be sustainable:- Latin American markets have specific challenges that make SCF more difficult to execute. How do multinationals make it work sustainably in the region without putting too much pressure on smaller suppliers?- How do you overcome issues arising from the decline in correspondent banking networks?- Which solutions are banks and alternative providers bringing to the forefront? Will receivables financing see the same growth as in Europe? And what opportunities exist in the open account space to grow this solution?

From tip to toe: Key trading markets across the AmericasThis collaborative session brings together players from across the commodity finance value chain to discuss where they see the most opportunity across both continents. Have recent commodity prices and Chinese growth spurred investment? The new gold rush; how will the demand for lithium, cobalt and rare earths manifest in mining investment? Will agribusiness continue to dominate?

New ECA Verizon’s: US TelecomsWith the recent two Verizon ECA backedtransactions, and ECA appetite from bothSprint and AT&T, we examine why thetelecoms market have opted for this assetclass:- Why have Telco’s opted to choose ECAsupported finance over the capital markets?- Is this an emerging trend born out of today’s market factors, or a temporary solution?- What’s next in the pipeline, and do similar opportunities exist south of the border?Lenny Floria, Head of Regional Treasury & Structured Finance, Americas, NokiaMaria Hultén Director, ExportFinance, Swedish Export CreditCorporation (SEK)

Northern lights: Canada’s continuedpromiseCanada’s EDC is extremely active in supportof its exporters globally, helping to promotea vibrant export economy. Domesticallymining, power generation, oil & gas andtransport and social infrastructure continueto offer excitement for investors. We discussinbound and outbound opportunities andthe ramifications of Prime Minister Trudeau’sclean energy policies for the Canadianenergy industry

A green future: Renewables and project growthFrom increased pension fund activity in the green bond markets to DFIs and ECAs with a green mandate, lenders, encouraged by government policy, continue to increase their desire for green investment. Insufficient transmission infrastructure and battery storage can be seen as a stumbling block for power transmission, but present exciting investment opportunities. This is in conjunction with the huge power generation possibilities born out of the abundance of renewable resources across both continentsPablo Otin VP, Emerging Markets, 8minutenergyRafael Valdez Mingramm, Managing Director, Latin America & The Caribbean, Envision Energy InternationalTimothy Effio, Market Director, Latin America, AES Energy StorageLeandro Alves, President & COO, Falvez EnergyJuan Walker, New Business Latam, MainstreamRenewable Power

Risk busters - Who you gonna call? The increasing role of private market insurance With PRI seeing an increased growth in the traditional ECA market place, and private trade credit seeing continued relevance, our panel of buyers and insurers discuss the latest:- Public and private collaboration vs competition, is this argument stale? Have there been recent developments and working frameworks to emulate, or do we still need to progress?- PRI for project finance, fact or fiction? Much rumoured to be a trend, we assess if long term project financings are suitable for the PRI market, and if these long tenor agreements are underway?- What is driving trade credit insurance take up, and how do leading trade credit insurers view the market’s credit and country risk in key Latin American countries; Mexico, Brazil, Colombia, and Argentina currently?Jared Kotler, Head of Political Risk and Credit, Validus Speciality

Commodity roulette: Traders keynoteAn exciting way to start the second day, this interactive session pits together the minds of top traders and bankers to forecast key nations and the commodities themselves. As willed by the roulette wheel; each contestant is assigned a commodity attached to a country, they then have to forecast how they see the market for that particular scenario panning out, and where investment would be needed. The audience then votes on whether they agree with the forecast

Tequila Sunrise: A cocktail of Mexican investment classesPower, infrastructure, agribusiness, oil & gas and renewables make for a blend of exciting investment opportunities for local and internationalinvestors. We examine key market trends:- Over the next 15 years 56 GW of additional generational capacity representing $100 billion of investment is needed. Against the backdrop of energy sector reform, how will this be fnanced?- With the growth of renewables, particularly wind and solar, how will the Mexican power market change over the coming years?- Where are the opportunities in urban infrastructure development?Victor Luque, Managing Director for State owned Enterprises Ministry of Energy, Mexico

The $1 Trillion US Infra Plan – New Deals or Emperor’s New Clothes?On inauguration US President Donald Trump announced huge infrastructure investment in the US, to rebuild roads, bridges railways andwaterways, but the details of both the projects and how they will be financed have yet to be set in stone. This session will examine the potential project pipeline, the scope for fiscal funding at federal level, municipal financing at state level, and role of both US and foreign including Chinese banks, US private debt and equity and institutional funds in financing projects in this market. Is there enough market capacity of to finance the potential programme or does the US need a national Infrastructure bank? Or is this all just a case of the Emperor’s new clothes?

Day TwoWednesday February 8th

Day TwoWednesday February 8th

Chairman’s introJonathan Bell, Editor in Chief, TXF

Networking coffee break7

8Chairman’s Closing Remarks

Export & Project Finance Stream – Room 1 Idea Labs – Room 2

The time is now – Argentina’s opportune investment landscapeKey public and private sector borrowers gather to discuss financing power generation, oil & gas, 4G telecommunications, transport infrastructure and mining projects. We ask if the current political and economic situation is conducive for continued growth in these industries, and what this means for the project landscape going forward? How will the PPP program pan out? How can investors become involved in the World Bank backed RenovAr? Can Argentina respond to the increased demand for lithium?Esteban Pérez Andrich, National Director for Renewable Energy, Ministry of Energy and Mining, Argentina

Capitalizing on the new normal: Oil & gas investmentWith the oil price settling on a new normal of around $50 a barrel, production remains profitable and new investment opportunities across upstream, midstream and downstream present themselves. Mega projects such as the multibillion dollar Petro Peru transaction, and smaller facility updates are tapping the ECA market for liquidity. Petrochemicals and natural gas used in clean fuels, alongside midstream infrastructure projects from Canada to Chile keep the investment market buoyant. This idea lab seeks to assess the opportunities and challenges across the Americas over the next 4 years

It’s electrifying: Financing conventional powerAccess to power underpins any successful economy, and it is no surprise that power is the dominant sector year on year, our panelof expert’s debate key topics:- Are we entering a new era of clean fuels projects? Will COP21 see an end to coal fired energy? Is this cleaner future an OECD or global consensus?- Is investment needed in power generation or transmission? How do the requirements renewables put on the grid play into this?- What lessons can be learned from recent IPP fnancings? How can risks surrounding currency fluctuations, elections and the validity of government concessions be mitigated?

China’s impact on Latin America Trade and Infrastructure InvestmentAt the Ministerial Forum of China and the Community of Latin American and Caribbean States, in Beijing in 2015, Chinese President Xi Jinping announced $500 billion in trade with the Latin American and Caribbean region (LAC) and $250 billion of direct investment for the period 2015-2019. Argentina, Bolivia and Chile are set to join the Asian Infrastructure Investment Bank and Brazil is a founder of the New Development Bank, both based in Beijing, as the ‘Belt and Road’ stretches further around the globe. What has been the influence of China’s lending and investing in the LatAm region, particularly China Development Bank, and with what impact on local trade financing and infrastructure lending markets? Is there enough for everyone or is China crowding out other foreign lenders?

A rocky road: Navigating Brazil’s path to successThough rocked by scandal, Brazil continues to be a vital player in South America, with the demands of the continents largest population and economy requiring constant investment. Transport, oil & gas, PPP, power and renewables projects present huge opportunities for investors, especially with the vacuum left by shirking BNDES resources. Uncertainty around how the 2018 elections, foreign exchange volatility and local and international lending market sentiment will all interact unpredictably, will be addressedThomaz Favaro, Associate Director, Brazil & Southern Cone, Control Risks

Networking Lunch

Routes to finance: The alternative investment question?Infrastructure debt funds, private equity and institutional investors are increasingly investing across a range of asset classes, from long term project finance to short term trade finance, and through a range of investment vehicles. Our panel of investors gather to assess whether this trend will continue and share what makes these asset classes attractive to them

To trade or not to Trade? That is the question The latest addition of the popular TXF deal or no deal series, to trade or not to trade, brings together executives from private market insurers, DFIs, ECAs and commercial banks to decide whether they would engage in the hypothetical deals presented? How they would look to structure the deal? And at what price they would do this at?

Playmakers: The development bank mandateWith development bank finance a crucial component in project viability, this session explores the differing mandates of bilateral and multilateral institutions:- Which industries and countries are highest priority? What environmental and sustainable factors have to be met to ensure funding?- How does this intersect with the ECA market? Are bilateral DFIs less motivated by development goals and more so by national interest? If so does this blur the ECA – DFI relationship lines?- How can governments, corporates, project sponsors and lenders interact with DFIs and MFIs?Sarvesh Suri, Director of Operations, MIGA - Multilateral Investment Guarantee AgencySabrina Borlini, Global Head of Syndications, International Finance Corporation (IFC)Jozef Henriquez, Head of Resource Mobilization, Inter-American Investment Corporations (IIC)

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