Suite 111 Foxdale Court

Zambezi Rd. Roma, Lusaka

Post Net Bag E10 Box 394

Tel: 0211 295 793

Real Estate Cell: 0966141445

Construction Cell: 0979303354

Villa Victoria

Property Development

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1 Summary of Activities

The company is engaged in real estate activities and construction. The primary business of the company is

construction and letting of residential developments. The company’s real estate division focuses on client sourcing for

property rentals and sales.

2 Mission statement Our mission is to promote growth and job creation by developing commercial and residential property in Zambia.

3 Brief History Villa Victoria Property Development Limited is a real estate company

incorporated in June 2009. Formerly a family owned collection of property,

Villa Victoria Properties has developed into a construction and asset

management company, consisting its own complexes of flats, luxury

houses, and property around Lusaka. The company’s assets are currently

worth ZMW 13.8 million to date, with an annual turnover of ZMW 1,293,000.

Some assets are undeveloped. It is the intention of the directors to embark on development projects to develop these

properties, and increase the market capacity of the firm. The company was bought over by Exalec Plc in December

2013, and is currently a subsidiary. Directors of Exalec Plc are Victoria Findlay, Josef Huwiler, Angelika Huwiler, and

Gloria Huwiler who are also shareholders of Roma Park, a $48 million project in conjunction with CPD properties, as

well as Foxdale Court, a $4.2 million office park and retail complex. Mechanical Engineer Josef Huwiler is CEO of

Exalec Plc.

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4 Summary of Assets

Villa Victoria 1 - 609/W Mulungushi Road, Roma

- Complex of 10 semi-detached flats, rental ZMW 7,800 (100% occupancy)

- 1.509 Hectares, some land not used (Proposed site of “Roma Suites”)

- Value: ZMW 7,319,000*

Villa Victoria 2 - Complex of 7 flats, rental ZMW 5,680 (100% occupancy)

- 1.12 Hectares

- Value: ZMW 3,053,000*

80A Mutandwa Road - 3 bedroom luxury house with swimming pool. Rental: ZMW 13,375 (Occupied)

- Value: ZMW: 1,318,000*

408 & 409 Sable Road Kabulonga - 0.75 acre walled plot with borehole

- Value: ZMW 920,0001

Sub 72, 610 Roma - 5 Acre plot off Zambezi Road Roma

- Value: ZMW 1,454,0002

* Valuation report Mak Associates 09/11/2011

1 Value based on property prices in the respective areas 2 Value based on property prices in the respective areas

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Other Assets Owned by Directors of Exalec Plc

Roma Park - 250 acre residential estate

- 16% Shareholding

- Value: ZMW 278,200,0003

- Value 16%: ZMW 44,512,000

Foxdale Court Ltd. - 3 story office park and retail complex

- Value:

Pilatus Zambia Ltd. - BMW and Mazda Dealer

Chalimbana, Chongwe - 40 Hectare wire fenced property with private dam

- Value: ZMW 3,240,0004

Farm 10127 Kafue - 249.6 Acre River Frontage property

- Value: ZMW 4,542,0005

3 Roma Park Valuation Report Knight Frank 13/06/2012 4 Value based on property prices in the respective areas 5 Value based on property prices in the respective areas

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5 Summary of Directors

The directorship of the company is as follows:

Josef Huwiler (Jnr): Managing Director

Joe Huwiler (Snr): Director

Victoria Huwiler Findlay: Director

Gloria Huwiler: Director

Anglika Huwiler: Non-Executive Director

Josef Huwiler holds a Masters in Engineering from Imperial College London, with honours for academic

achievement. He has worked as lead engineer for the South African construction conglomerate, WBHO,

and also for FNB Zambia as Financial Administrator. Josef has been managing the company’s assets

for the past 3 years, constructing extensions and offices for the company in line with the current

expansion plans.

Victoria Findlay, the founder of Villa Victoria Property Development Ltd., has vast experience in real

estate projects including Roma Park, the $48 million venture with CPD properties and Renaissance

Bank. Victoria Findlay and Children (Josef, Angelika, Gloria) sit as 16% shareholders of the holding

company CPD Properties of which Josef does attend annual AGMs and operational meetings. Villa

Victoria Properties currently acts as a subsidiary company of Roma Park, providing consultancy on

legal, tax, and property transfer issues.

Gloria Huwiler sits as non-executive director and has input in the company in terms of interior design

and marketing.

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Organisation Structure

Board of Directors

Victoria Findlay

Joe Huwiler (Snr)

Josef Huwiler (Jnr)

Angelika Huwiler

Gloria Huwiler

Nathan Kalufyanya

CFO

Aaron Banda

Accountant

JanuaryKumenda

Operations Manager

Building Team Paul Vlhakis

Cheif Technician

Expert team

Morton Munthali

Real Estate Manager

Real Estate Team

Mainenance

Team

Josef Huwiler

CEO

EXTERNAL CONTRACTORS

CIVILSTRUTS - Civil Engineering Consultants

LM CHAMBERS - Legal Advisors

ADAM HOOD - Quantity Surveryors

MULTIFIELD ENGINEERING - Architechts/Structural Engineers

RM CONSULTING - Electrical Engineers

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6 Track Record

Pilatus Zambia Ltd. - Construction of 950 sqm double story BMW showroom

- Contractual agreements with Steel Fabrications Zambia ltd.

- Construction of single story houses

- Construction of parking deck & ramp

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Roma Park - Contractual agreement for $48 million investment in conjunction with Davy Group and

Renaissance Bank

- Construction of “Roma House.”

- Obtainment of development licenses (MFEZ, ZDA Investment licence)

- Full Environmental Impact Assessment (EIZ)

- Sole mandate estate agent procurement

- Heavy machinery procurement – abnormal load permits etc.

- Property sale and subdivisions

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Roma House restaurant and offices

Proposed Commercial Centre:

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Foxdale Court - Construction of 3 story office complex

- Contractual arrangements with RM and DH Engineers

- Securing of anchor Tenants: Spar, Post Net, Airtel, JungleSurf.

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Villa Victoria 1 - Construction of 10 residential houses

- Single phase single story (metered)

- Communal swimming pool

Villa Victoria 2 - Construction of 7 residential flats

- Single phase single story (metered)

- Car ports

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7 Certification

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8 Directors and Management CVs

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Victoria Findlay Huwiler Cover Letter

Lusaka, May 7th 2013

TO WHOM IT MAY CONCERN

Please find my curriculum vitae and qualifications. I have extensive experience doing business in

Zambia having worked with my husband under Pilatus BMW Land Rover and Mazda. Recently, I

launched a real estate company, Akasuba Developments, that spearhead the creation of Roma Park, a

major development in Lusaka, partnering with CPD properties and Renaissance Bank. My

experience in Lusaka has provided the necessary connections with local authorities, business and

political figures and an extensive networking base.

As well as my work in the business domain I have been involved in initiating and promoting various

cultural and philanthropic endeavors. The Mayor of Lusaka, Daniel Chisenga, asked that I work as a

committee member and events manager for the Lusaka 100 celebrations, a national event

commemorating Lusaka’s 100th year. I have been actively involving in the planning of cultural,

intellectual and social events which will take place over two weeks in July 2013. The initiative will

be both a cultural celebration and an opportunity for talks on the development and the expansion of

the city. The appointment to the planning committee made by the Mayor was based on my

management and organizational skills as well my commitment to the cultural life of Lusaka.

An ongoing project I have been involved in is the restoration of the Lusaka Playhouse. Working with

the National Arts Council, and the Ministry of Tourism I was involved in securing the primary

sponsors of the initiative; Bank ABC, World Bank, Development Bank of Africa, I connect, and the

American Embassy. The playhouse will serve as a venue for the Lusaka 100 cultural events that will

be opened by the Minister of Tourism, Sylvia Masebo.

In addition to my work in the cultural domain, I have worked extensively on various philanthropic

endeavors. Recently I launched a program for the cleanup of Ngombe compound, and secured FNB

Bank as the primary sponsor and Spar and others as supporting sponsors. The effort will be a five to

ten year project supporting the development of Ngombe, working with the Ward District Committee,

promoting cleanup activities and efforts to improve local homes, as

well as aiding key projects such as the Youth Centre which will offer training programs and provide

a platform for cultural events. The goal will be to turn Ngombe into a tourist attraction, and a model

for the gentrification of various compounds by empowering community members. My work in this

sphere is testament to my interest in the development of the country, and my ability to develop

strategic partnerships.

I can communicate in the French language, as well as German and Chinanja and am looking forward

to realizing further development plans.

Your Sincerely,

Victoria Huwiler

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NATHAN CHITI KALUFYANYA

Profession : Chartered Certified Accountant

Experience : Over 20 Years

Membership in Professional Societies : Fellow of the Association of Chartered Certified

Accountants (FCCA)

Fellow of the Zambia Institute of Chartered

Accountants (FZICA)

Nationality : Zambian

SUMMARY & KEY QUALIFICATIONS I am a qualified chartered accountant with over 20 years of professional working experience in

various managerial positions with expertise in Financial Management and Accounting, Financial

Reporting, Internal Controls and Process Change, Business Valuations, Asset and Inventory

Management, Treasury and Credit Control, and General Management. I am a Fellow of the

Association of Chartered Certified Accountants (“ACCA”) and the Zambia Institute of Chartered

Accountants (“ZICA”).

EDUCATION:

Dates Attended College/University Degrees Obtained

1980 – 1984 University of Zambia (now CBU) Bachelor of Accountancy

1997 Zambia Centre Accountancy Studies (ZCAS) Chartered Accountant - Association of Chartered Certified Accountants (UK)

EMPLOYMENT RECORD:

Dates Employing Organisation Position Held

Feb 2012 to July 2012 Zambia Construction Company Consultant - Finance Manager

Nov 2011 to Mar 2012 M & S Aluminium Consultant – Business Valuation

Mar 2011 to Sept 2011 CIDRZ Consultant – Fixed Asset Mgt Systems

2006 to 2009 Road Development Agency Head of Finance

2003 to 2006 Zambia Sugar Plc Credit Manager

2001 to 2003 Zambia Sugar Plc Stores Manager

1998 to 2008 Zambia Sugar Plc Management Accountant

1991 to 1998 Zambia Sugar Plc Financial Accountant

1985 to 1991 Zambia Sugar Plc Management Trainee / Asst Acct

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EXPERIENCE SUMMARY:

ZAMBIA CONSTRUCTION COMPANY

Reporting relationship: Chief Executive Officer

Re-organise the Finance Department.

Serve as financial, business and accounting pioneer and as

Advisor to the CEO Achievements

Designed and implemented a completely new financial system : a chart of accounts, set up ledgers and ability to extract financial statements

Implemented new payroll system with total compliance to statutory requirements

Conducted Value Added Tax reconciliation with ZRA.

M & S Aluminium & Construction Company

CONSULTANT: BUSINESS VALUATION & SYSTEM REVIEW

Reporting relationship: Chairman and Chief Executive Officer

To carry out a valuation of the company that was to be the basis for admission of a new partner.

Conduct a review of systems and recommend improvements

Achievement

Successfully determined business value. This served as basis for ascertaining share of a recently deceased partner

Reviewed and successfully recommended process changes in stores and finance. Introduced documentation e.g. in control of casual wages, stores stock control and control of cash.

Conducted successful tax review resulting in reduction of tax liability.

CENTRE FOR INFECTITIOUS DISEASE AND RESEARCH IN ZAMBIA

CONSULTANT – FIXED ASSET MANAGEMENT SYSTEMS

Reporting relationship: Director Operations

To develop and implement a fixed asset management system that addresses CIDRZ local and external reporting and management requirements.

To document and develop a fixed asset manual that would contain relevant policies and procedures around the fixed asset transaction cycle.

To address and manage the change process arising as a result of the new fixed asset management mechanism. To provide guidance in the annual capital budget process. To ensure the fixed asset register is complete and up to date.

Achievement

Developed a fixed asset management manual.

Implemented a control environment around fixed asset and a location system to go hand in hand with the asset numbers.

Initiated a reconciliation of the asset register to the underlying financial register

ROAD DEVELOPMENT AGENCY (RDA)

HEAD OF FINANCE

Reporting relationship: to the Chief Executive Officer

Prepared annual budget in addition to monthly, quarterly and annual financial reports for board which formed a significant element of board papers for satisfactory presentation to the Board;

Implemented budgetary control to ensure financial expenditure was as per approved budget and ensured these followed Agency policy and procedures.

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Managed and forecast cash flow requirements including mobilization of funds and investment of surplus cash; Provided CEO with advise on financial matters.

Achievements

Complete set up and re-organisation of Road Development Agency accounting, reporting systems and procedures; Successfully provided leadership in developing and implementing financial functions; Designed and implemented a consolidated company-wide chart of accounts to adequately capture all RDA operations and enhance

management reporting systems; Spearheaded the successful set up of the Sun Accounting System for the General Ledger; Developed a road accounting policy for classifying various road works; Established and reorganized the process of handling road contracts, establishment of contract files and contractors ledger; and Facilitated in-house workshops for accounting staff.

ZAMBIA SUGAR PLC

CREDIT MANAGER

Zambia Sugar Plc was listed on the Lusaka Stock Exchange. Illovo Sugar Limited of South Africa, through its wholly owned subsidiary

Illovo Sugar Ireland, holds 89.7% of the issued share capital. It is the largest sugar producer in Zambia with an annual turnover in excess

of US $ 143 million.

Reporting to the Financial Director as Credit Manager:

Responsible for company credit management; Coordinated activities of credit committee tasked with formulation Sales, Debtors, Distribution and Warehouse module implementation; Review of sales and debtors policy; forecast sales and cash collections; and Managed debtors’ team tasked with timely reconciliation debtors.

Achievements

Successfully coordinated the project for implementation and design of the Sales, Debtors, Distribution and Warehouse Module; Became project champion and managed all post implementation system related problems; Designed model that enabled Debtors section to collect information from the Sun System Accounting module for export to

Tranquillity Accounting system in time for monthly accounts; Turned section around and ensured all accounts fully reconciled and debtors operating within limits; Designed system that ensured timely collection and banking of all cash sales with a weekly report to Financial Director; and Commenced sales quantity analysis to check on average sales realization and compare with Marketing Department’s reports,

resulting in company attaining sales figures that could be vouched to invoices.

ZAMBIA SUGAR PLC - STORES MANAGER

Responsible for Stores management and improvement of stock turnover. This function included the supervision of a complement of 65 subordinates.

Spearhead the computerization of stores operations and convert catalogue to the Illovo Group Standard Responsible for planning and staffing, development of personnel In conjunction with end users and procurement I planned for optimal availability of needed stores requirements to ensure there

was minimal disruption to production and operations. This also involved ensuring safe storage at all times.

The stores function was organised in separate store areas as follows:

Chemical Stores, Transport Stores, Fuel Stocks, Electrical Stores and General stores

Achievements

Coordinated stores computerization program in conjunction with Illovo Head Office staff in Durban, RSA; Designed and implemented fuel management system to monitor large fuel volumes handled at Nakambala Sugar Estate; Converted totally manual catalogue to run in Excel Spreadsheets and was able to generate reports in time and in prescribed Illovo

Sugar Group Format; and Designed and implemented purchase requisition expediting report for use in monitoring stock reorder lead times.

ZAMBIA SUGAR PLC - MANAGEMENT ACCOUNTANT

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General administration of Budgetary Control section; Preparation of Flash Report on every first Thursday of month on previous month giving a global position of expected results; Every second week prepare in specified form and contents a report to Tate & Lyle showing Profit & Loss and Funds Flow; Prepared detailed cost reports and summaries in readiness for cost meetings with each department; Preparation of complete set of management accounts and commentary thereon for the Executive Committee meeting; Cost

summaries and operational statistics; Prepared Quarterly Report to Tate & Lyle; and Preparation and consolidation of the company annual budget.

Achievement

I was the Finance representative on the team that implemented Sun System of Accounting.

ZAMBIA SUGAR PLC - FINANCIAL ACCOUNTANT

Reporting to Finance Manager and responsible for the following: Stores Accounting; Branch Current Account; Payroll; Ledgers on UNIX

(Omicron) system and Cash Office. Prepared Balance Sheet and completed INDECO Standard Accounts

ZAMBIA SUGAR PLC - ASSISTANT ACCOUNTANT

Reporting to Financial Accountant and responsible for Stores Accounting, Branch Current Accounting, Ledgers and Debtors

Office

ZAMBIA SUGAR PLC - MANAGEMENT TRAINEE

Reporting to Management Accountant and responsible for costing returns used in monthly Management Accounts

Key short training courses and workshops attended Fraud Risk Management - by Exactech Fraud and Prevention Solutions in conjunction with CIMA Zambia. October 2008; Financial Management in Public Sector – ESAMI, Arusha, Tanzania – February / March 2008; Corporate Governance – Company and the Director – Commonwealth Association for Corporate Governance – July 2006; Sun System Accounting Package Programming – Next Technology, September 1999; Change Management by DDI of Mauritius – Kafue Gorge 1998/1999; and Leadership Course: Outward Bound Lake School, Mbala August 1985.

Attachments August 2004 - Infowave, Durban, RSA. Sales, Debtors, Distribution and Warehouse Module. Implementation and Design - Change

Management and Business Process Mapping; March 2003 - Noodsberg Sugar Mill RSA (Illovo Sugar). Three week attachment to understand group stores management in

readiness for computerization and migration to group stores system; and February 2002 - Konkola Copper Mines, Nchanga Division. Two week attachment to KCM Stores to learn stores management in a

large and computerized organisation.

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CONTACT DETAILS

Nathan C Kalufyanya

P O Box 33609

LUSAKA

Zambia

Mobile: (+260) 977 788259

Email: nckalufyanya@yahoo.com

REFEREES:

Mr. B Pepala BA Econ Mr. E Kabwe FCCA FZICA

Company Treasurer Finance Director

Zambia Sugar Plc Medical Stores

P O Box 670240 P O Box 30207

MAZABUKA LUSAKA

Zambia Zambia

Tel: (+260) 213 230666 Tel: (+260) 211 242768/ 211 244105

Mob: (+260) 955 770368 Mob: (+260) 977 801884

Email: bpepala@zamsugar.zm Email: edward.kabwe@medstore.co.zm

Mr. J.M Mwewa B.Eng (Civil) M.Eng (Civil)

Executive Director

Asphalt Roads (Zambia) Limited

P O Box 50942

LUSAKA

Zambia

Tel: (+260) 211 254648

Mob: (+260) 977 790880

Email: joseph.mwewa@arz.co.zm