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Investor Presentation 3Q/9M 2017

RESILIENCE

Investments that Stand the Test of Time

Egypt Kuwait Holding | Investor Presentation 2

Cautioning and Forward Looking Statements

This presentation was prepared by Egypt Kuwait Holding (“EKH”) and is strictly confidential and may contain market sensitive information. All recipients hereof who are

permitted to receive the same are bound by the restrictions on disclosure and use and other terms thereof. The provision of this presentation is intended for discussion

purposes only, and no person has represented or warranted the accuracy or completeness of any information contained herein. It does not constitute an offer or

recommendation to enter into any transaction by EKH, its affiliates or its officers, directors or advisors. If you decide to enter into a transaction you do so in reliance on your

own judgment. When making an investment decision, you should rely solely on the final documentation relating to the transaction and not this presentation. This presentation

is strictly confidential and speaks only as of the aforementioned date. This presentation is not intended to be relied on for any purposes by any person without EKH’s consent.

Neither EKH nor any of its affiliates are under any obligation to consider or enter into any transaction. EKH and its affiliates shall not have any liability for any information

contained in, or any omission from, the presentation or any other written or oral communication transmitted to the recipient(s) and they disclaim all liability for any direct,

indirect, consequential or other damages or losses incurred by the recipients or any third party that arise from any

reliance on this document or its accuracy.

AGENDA

EKH Overview & Recent Developments

Investment Portfolio• Fertilizers and Petrochemicals Segment• Energy and Energy-Related Segment • Diversified Segment

Financial Highlights

Appendix 1: Organization & Governance


EKH OVERVIEW& RECENT DEVELOPMNTS


EKH at a Glance

19 investments in strategic

sectors, ranging from

fertilizers and petrochemicals

to energy, building materials

and insurance

> 4,000professionals employed by

the holding company and its

subsidiaries

USD 1.1 bntotal assets

USD 414 mntotal equity book value

> 15 %average ROE in the

past 10 years

c. USD 256.1 mnpaid-in capital

c. USD 889 mncumulative net profit [2005-16]


EKH AND ITS COMPANIES BENEFIT FROM A CLEAR STRATEGY AND INVESTMENT PHILOSOPHY

Hands-on investor and operator Develop greenfield operations to leverage

operational expertise

Secure strategic partnerships with

leading international value added

industry players

Long-term investor with opportunistic

exit strategy

Create synergies between different

group companies

Expand industry expertise to

new markets


PRIMARY PORTFOLIO INVESTMENTS

AlexFert

(Ammonia, Urea Fertilizer and

Ammonium Sulfate Plant)

Sprea Misr

(Chemicals Plant)Effective Ownership

100.00%

Effective Ownership

42.6%

NatEnergy

(Gas Distribution Business Holding

Company)

Effective Ownership

100.00%

Building Materials Industries

Company

(Cement Plant)Effective Ownership

38.03%

Delta Insurance

(Life and General Insurance

Company)Effective Ownership

32.02%

Fertilizers and Petrochemicals Segment Energy and Energy-Related Segment Diversified Segment


OPERATIONAL HIGHLIGHTS OF THE 3Q/9M17

3Q 2017 Margins

Gross Profit Attributable

EBITDA

23% 31%

9M 2017 Margins

Gross Profit

26% 33%

Revenues (USD mn)

7687

271 270

3Q 2016 3Q 2017 9M 2016 9M 2017

Gross Profit (USD mn) Attributable Net Income (USD mn) (1) Attributable EBITDA (USD mn)

Attributable

EBITDA

24 25

8985

3Q 2016 3Q 2017 9M 2016 9M 2017

12

37

47

77

3Q 2016 3Q 2017 9M 2016 9M 2017

2118

69

61

3Q 2016 3Q 2017 9M 2016 9M 2017

1) 3Q17 includes capital gain of USD18.2mn.


USD200 MILLION RECENT DEVELOPMENTS SHOW THE STRENGTH OF THE COMPANY’S STRATEGY

• Financial reengineering whereby reduced the long term debt by USD70 mn by existing ZAIN.

• Equity appreciation of USD24 mn

• Full impact of debt restructuring to reflect on FY2017 results

• Acquired additional c.5% in Alexfert to reach c.42% ownership effective 2Q2017.

• Acquired a 15% stake in I Squared Capital in 2012

• Exited the investment on October 08, 2017 by selling to I Squared Capital with total consideration

of USD60 mn and realizing capital gain of USD30 mn

• Acquired a 26% stake in Egyptian Hydrocarbon Corporation (EHC) in 2011

• Exited the investment on September 28, 2017, by selling to Carbon Holding with total

consideration of USD65 mn and realizing capital gain of USD18.2 mn


OFF SHORE NORTH SINAI (ONS)

Located in the Eastern Nile delta, 50 Km NE of Port Said,

Operated through NOSPCO JV after take over from

Perenco mid 2014 .

Two Development Leases Toa & Kamose , awarded in

1998, Total Area is 355 Km2.

Shallow water : WD 30 – 85m

Dry Gas (99.9% Methane) with 0.2%CO2

Effective Dev. Period for 20 Yrs from date of 1st

production in 2009 (2029) Extended for additional 5 Yrs.

9 wells have been drilled in Tao Field during Exploration

& Development phase with cumulative production of 275

BCF.

Reserve: Low risk Pliocene upside > 400 BCF

Asset Overview



Offshore North Sinai Rumana Production Facilities

Onshore CPF Site Rumana CPFOffice Camp in

Rumana CPF



Low Risk Post Messinian Prospect Inventory

• Finalized the acquisition of 3D Seismic Survey

for an area of 560 km2 for two purposes:

Enhance the current shallow seismic data

which was done in 1995

Shoot for the deeper targets for future

exploration

Fast Track results were crucial to the

success of Tao-5 sidetrack and achieving

the targeted gas sand layers

• Reserves figures based on the new 3D Seismic

will be available as follows:

Tao field : end of October

Kamose Pliocene : end of November

All Pliocene: end of December

All Deep targets: end of March 2018

3D Seismic



Tao 5 – Tao 4 & Kamose - Statement of CF & I/S

• Reserves : 113 BCF

• CAPEX plan $116.7

M (including 3D

Seismic)

• OPEX plan $0.5

Million / month

• Cost gas @ US$

5.3/mmscf (Brent @

$50/bbl)

• Profit gas @ US$

5.3/mmscf (Brent @

$50/bbl)

Statement of Cash Flow (US$ MM) 2017 2018 2019 2020 2021 2022

Revenues 19.13 59.38 67.12 54.36 45.18 27.01

OPEX (3.00) (6.00) (6.00) (6.00) (6.00) (6.00)

CAPEX (41.36) (71.28) 0.00 0.00 0.00 0.00

F.X Loss 0.00 0.00 0.00 0.00 0.00 0.00

Asset Cash Flows (excl collection delays) (25.23) (17.90) 61.12 48.36 39.18 21.01

EGPC Recivables (19.13) (59.38) (67.12) (54.36) (45.18) (27.01)

EGPC Collections 8.64 45.15 75.80 58.00 46.31 34.57

Net Cash Flows (35.72) (32.12) 69.80 52.00 40.31 28.57


Additional 30 MWh Expansion

Wartsila Engine Hall Radiators Roof - MV

SWGR

Engine Duct &

Stacks

Engine Hall Outside

Area

KAHRABA


OUR PORTFOLIO


FERTILIZERS AND PETROCHEMICALS SEGMENT


Products & Production Capacity:

• Formaldehyde and form-urea (production capacity of 132tpa)

• Urea formaldehyde glues and melamine formaldehyde

resins (production capacity of 102tpa)

• Urea, melamine and phenolic molding compounds

(production capacity of 3.6tpa)

• Formica (high pressure laminate) (production capacity of 2.7 mn

sheets pa)

• SNF Sulphonated Naphthalene Formaldehyde (production capacity of

88tpa)

Activities: Commercial production of fertilizers and

petrochemicals for domestic and export sale, with more than

20% of revenues coming from export sales

Over 85% market share in EgyptExport markets include: 38 countries in Africa, the Middle

East, Europe, the US and Latin America

630 employees

EKH Ownership: 100.0%

Current shareholders equity of c.USD 59 mn

KEY FACTS & FIGURES


HIGHLIGHTS OF 1H17

EGP 1.6bn total revenues

Up 93% Y-o-Y

EGP 513mn EBT

Up 100% Y-o-Y

EGP 504mn & 31% EBITDA Margin

Up 90% Y-o-Y

EGP 398mn Net Profit

Up 101% Y-o-Y


SPREA 5 YEARS PROGRESION

Sales (EGP mn) Gross Profit (EGP mn)

Net Profit (EGP mn) (1)

430530

667727

1,124

2012 2013 2014 2015 2016

101156 169

211

420

2012 2013 2014 2015 2016

65

107 126 125

302

2012 2013 2014 2015 2016

EBT (EGP mn)

74 122 125

170

391

2012 2013 2014 2015 2016

1) 2015 Sprea tax holiday expiration.


SPREA EXPANSIONS

Sprea witnessing an aggressive expansion plan to meet the growing demand for its products locally and in international markets

targeting to grow its export footprint that represent c.20% in FY16 to 60% by 2019

Land • 54,400m2 new plot of lands secured to meet future expansion1

Formica & HPL (high

pressure laminated)

• Adding 2 lines of Formica with total capacity of c.1.8 million sheets annually growing Sprea

Formica capacity to c.4.3 million sheets by 1Q 2018

• HPL & Impregnation new line with total capacity of 720k sheets by 4Q 2017

2

Formaldehyde • Rehabilitation of formaldehyde reactor 4 adding capacity of c.12.ktpa 3

SNF Mega Expansion • Building on the success of SNF expansion Sprea considering to add 88ktpa SNF capacity4


KEY FACTS & FIGURES

Products & Production Capacity: • Granular urea (maximum production

capacity up to 635,000 tons)• Residual ammonia (up to 396,000

tons pa)• Ammonium sulphate (c.165,000

tons pa)

Subsidiary:

International Petrochemicals Investments

Company (IPIC)

• Est 2012

• Invests in and acquires promising

companies in the fertilizer and

petrochemical industry

• Target markets: Egypt and abroad

Activities: Commercial production of

fertilizers for domestic and export sale

• EKH Ownership: 42.6% with

Management Control

• Remaining ownership: 30.1% other

shareholders of Bawabat Al Kuwait,

15% AbuQuir Fertilizer, and 12.3%

held by other shareholders

AlexFert is managed and controlled by

EK Holding as well as consolidated in

its financials

442 employees

Established in July 2003


HIGHLIGHTS OF 9M17

USD 131mn total revenues

Up 40% Y-o-Y

USD 31mn EBT

Up 240% Y-o-Y

USD 40mn & 31% EBITDA Margin

Up 83% Y-o-Y

USD8.7mn Att. Net Profit

Up 253% Y-o-Y

• Urea short term momentum remains positive on

relatively limited supply from Chinese

producers and strong demand

• As of October 02,2017 MoA hiked the Urea

local price from USD170 to EGP181/ton


ENERGY AND ENERGY-RELATED SEGMENT


KEY FACTS & FIGURES

Established in 2010

Activities:

• Building and operating gas distribution

networks

• Transporting gas to large power stations

• Independent power producer with 1 of

the 2 available licenses to sell electricity

directly to 3rd parties

1400 employees

83.97% 77.99% 83.97% 91.99%

Over 16% market share in Egypt

(1)

EKH Ownership: 100%

• c.1.2 million Household Clients

• c.6k Commercial Customers

• c.625 Industrial Customers


NATENERGY PROGRESION

EGP 1

EGP 14

EGP 18

EGP 16

FY2014 FY2015 FY2016 FY2017 E

EGP 13EGP 14

EGP 24EGP 25

FY2014 FY2015 FY2016 FY2017 E

EGP 11 EGP 11

EGP 13

EGP 19

FY2014 FY2015 FY2016 FY2017 E

EGP 49

EGP

100

EGP

147

EGP

254

FY2014 FY2015 FY2016 FY2017 E

Subsidiary FY 2014 FY 2015 FY 2016 FY 2017 E

NatGas EGP49 mn EGP100 mn EGP147 mn EGP254 mn

Fayum Gas EGP11 mn EGP11 mn EGP13 mn EGP19 mn

Nubaria EGP13 mn EGP17 mn EGP24 mn EGP18 mn

Kahraba EGP1 mn EGP14 mn EGP25 mn EGP16 mn

NatEnergy EGP74 mn EGP142 mn EGP209 mn EGP307 mn

2014 – 2017E Net Income (EGP Mn)


NATENERGY CONCESSIONS

• Phase I Fayum City

• Phase II Fayum City

• Extension Phase II Fayum City

• Extension Phase II Fayum City

*


NATENERGY HIGHLIGHTS OF 9M17

EGP 667mn total revenues

Up 28% Y-o-Y EGP362mn EBT

Up 53% Y-o-Y

EGP242mn & 36%EBITDA Margin

Up 27% Y-o-Y

EGP 1.37bn total Cash

Up 36% Y-o-YEGP285mn Net Profit

Up 50% Y-o-Y

EGP239mn Att. Net Profit

Up 54% Y-o-Y


EGP 426mn total revenues

Up 17%Y-o-YEGP 280mn EBT

Up 56% Y-o-Y

EGP 172mn & 38% EBITDA Margin

Up 35% Y-o-Y

• As of October 18,2017 EGAS hiked the

household connection fees from EGP2,700 to

EGP3,500/client

• Connected 47,021 households in 9M17 and 239

industrial and commercial users.

EGP 1.13bn total Cash

Up 39% Y-o-YEGP 223mn Net Profit

Up 58% Y-o-Y

EGP 187mn Att. Net Profit

Up 64% Y-o-Y

NATENERGY KEY DRIVERS - NATGAS HIGHLIGHTS OF 9M17


DIVERSIFIED SEGMENT


KEY FACTS & FIGURES

Located in Assiut

Activities: Produces various types of gray

cement, clinker and related products such as

cement bricks and ready-mix cement that

meet Egyptian and international standards

EKH ownership: c.38%

Other partners: South Valley (46%), Hayel

Said (10%), and others (6%)

Paid up capital of c.EGP 614 mnTotal production capacity of c.1.8 mn tons

per annum

The company is currently using mazot as the

main source of power and is studying

conversion to a dual system, mainly

utilizing coal as well as waste

Reached maximum production capacity at

end-2013

Greenfield cement producer founded in

2007


KEY FACTS & FIGURES

Established in 1981 and

acquired by EKH in 1999+19 branches

Activities: Provides financial protection

through innovative insurance products and

services

EKH ownership: c.32% Paid up capital of c.EGP 22.5mnHolds c.5% share of the Egyptian insurance

market

+300 employees Publicly listed

Three Service Categories:

• Corporate Solutions Plans

• Individual Protection Plans

• Group Life Insurance Plans


Al-Shorouk for Melamine

and Resins (Al-Sharif):

• Successful and well-established tableware manufacturer

• Founded in 1979 and acquired by EKH in 2007

• Benefitting from synergies with Sprea Misr (see slide 16)

• Strong consumer trust built on commitment to health and safety

• 2 production lines with a combined 78 presses and overall production capacity of 3,000 tons p.a.

• +500 employees

• ISO 9001:2008 and ISO 14001:2004 certified

• Supplies all of the hypermarkets in Cairo and distributes products across Alexandria and cities in Upper Egypt and the Delta

• Export activities focus primarily on the Middle East and Africa

Gas Chill

• Established by EKH in 2006

• Specializes in district cooling systems for industrial and commercial clients

• c.30 commercial clients in Egypt and a view to expanding regionally in the future

• Primarily caters to large facilities such as malls, factories and hospitals through build-own-operate (BOO), build-operate-transfer (BOT), or engineering, procurement and construction (EPC) agreements

• As a pioneer in cooling technology in Egypt, Gas Chill is also looking into alternative forms of energy to power its state-of-the-art cooling systems, including harnessing readily available solar and wind energy in Egypt

Bawabet al Kuwait Holding

Company:

• Founded in 2004 by EKH

• Is poised to become a major investor in the fertilizers and petrochemicals sector

• Holds ownership stakes in AlexFert, and other petrochemical companies in the Gulf Cooperation Council (GCC)

• EKH currently holds a 49.7% stake

Globe Telecom:

• Greenfield investment established in 2001 by EKH

• Focuses on providing technology systems geared towards facilitating business operations.

• Conducts in-house software research and development, and has partnerships with leading international firms such as Intergraph, Psion and TomTom

• GT is the sole and exclusive partner of Intergraph in Egypt, has agreements with CB&I and is the trusted partner for Egypt’s ports, as well as the main supplier for Enppi’s CCTV and Engineering Software (PPM)

KEY FACTS & FIGURES


FINANCIAL HIGHLIGHTS


EKH’S FINANCIALS ARE SOLID

Total Assets (USD Mn) (1) Total Equity Book Value (USD Mn) (1)

Total Attributable Net Profit (USD Mn) (1)

438 518 528

974

1,679 1,6731,858 1,750

2,2882,076

1,603 1,528

1,012

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

175219

275

531 569651

869764 740 724

562 522

401

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

1) FY 2014 restated financials to account for asset impairments related to the company’s oil operations.

Return on Average Equity (ROAE) (1)

29

55 56

104120

131145 150

83

42

-95

36

63

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

18%

28%

23%

26%

22% 22%19% 18%

11%

6%

-17%

7%

15%

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Average 15.1%


EBITDA & DEBT OVERVIEW

(In ‘000 USD) 1H 2017

Long-term interest-bearing debt 51,998

Short-term interest-bearing debt 87,966

Gross interest-bearing debt 139,964

Cash & quasi cash (434,383)

Consolidated Net debt (cash) (294,419)

Attributable Net debt (cash) (196,684)

Net Debt (Cash)

Segmented EBITDA (In ‘000 USD) 3Q 2017 9M 2017

Fertilizers and Petrochemicals 12,576 43,426

Energy & Energy Related 4,191 11,534

Diversified 1,398 5,583

Attributable EBITDA 18,165 60,543

Attributable EBITDA


SUMMARY CONSOLIDATED INCOME STATEMENT

USD 2Q 2017 2Q 2016 1H 2017 1H 2016

ENERGY & ENERGY RELATED

Revenues 12 009 015 19 928 151 25 167 116 42 233 554

% Contribution 15% 22% 14% 22%

COGS 7 363 489 12 404 868 16 307 839 26 559 555

Gross Profit 4 645 526 7 523 283 8 859 277 15 673 999

% Margin 39% 38% 35% 37%

FERTILIZERS & PETROCHEMICALS

Revenues 65 357 011 62 846 993 147 937 173 134 476 755


COGS 50 965 645 49 651 030 106 379 640 102 555 188

Gross Profit 14 391 365 13 195 963 41 557 533 31 921 567

% Margin 22% 21% 28% 24%

DIVERSIFIED

Revenues 1 721 563 6 773 421 9 395 334 17 506 008


COGS 378 501 (13 195) 1 045 794 (245 091)

Gross Profit 1 343 062 6 786 616 8 349 540 17 751 099

% Margin 78% 100% 89% 101%

TOTAL

Revenues 79 087 589 89 548 565 182 499 623 194 216 317

COGS 58 707 636 62 042 703 123 733 273 128 869 652

Gross Profit 20 379 953 27 505 862 58 766 350 65 346 665

% Margin 26% 31% 32% 34%

Operating Income 16 972 882 19 545 914 47 190 969 48 642 826

% Margin 21% 22% 26% 25%

Net Income 21 038 208 15 274 160 48 909 700 42 277 072

Non-Controlling Interest 4 166 020 2 099 550 9 654 299 7 270 832

Attributable Net Income 16 872 188 13 174 610 39 255 401 35 006 240


CONSOLIDATED BALANCE SHEET

USD 1H 2017 FY 2016

Fixed Assets (Net) & Projects under Construction 231 389 181 233 880 932

Investments in Associates 63 809 788 63 782 363

Investments Available for Sale 112 658 920 116 953 348

Financial investments held-to-maturity 113 158 397 113 528 198

Other long-term Assets 70 129 984 69 493 955

Total Long-Term Assets 591 146 268 597 638 796

Cash 234 484 552 242 186 165

Investments in Treasury Bills & Bonds 23 065 457 18 613 529

Investments Held for Trading 12 845 657 15 159 821

Total Receivables & Other Debtors 78 304 365 44 441 573

Assets Held for Sale 38 368 005 38 368 005

Inventory & Work in Progress 57 261 784 54 103 292

Due from EGPC 2 255 141 1 416 404

Total Assets 1 037 731 229 1 011 927 585

USD 1H 2017 FY 2016

Bank Overdraft and STL 88 929 991 81 055 075

Due to Suppliers and Sub-Contractors 15 608 627 14 250 675

Due to EGPC 23 998 835 23 983 418

Provisions 23 236 700 21 448 727

Debtors and Other Credit Balances 148 331 323 99 497 366

Liabilities Held for Sale 4 600 4 600

Total Current Liabilities 300 110 076 240 239 861

Long-Term Loans 97 525 847 119 409 164

Other Long-Term Liabilities 309 057 372 908

Deferred Tax Liability 25 374 288 26 571 939

Total Long-Term Liabilities 123 209 192 146 354 011

Paid-in Capital 256 110 292 256 110 292

Reserves 191 513 013 189 894 520

Fair Value Reserve (166 463 510) (170 395 430)

Retained Earnings 325 863 068 325 259 517

Translation Adjustments (210 712 432) (212 373 270)

Formed versus-based payment transactions on shares 17 561 848 17 561 848

Total Equity Attributable to the Company 413 872 279 401 057 477

Non-Controlling Interest 200 539 682 224 276 236

Total Shareholders' Equity 614 411 961 625 333 713

Total SHE + Total Liabilities 1 037 731 229 1 011 927 585


CONSOLIDATED CASH FLOWS

USD 1H 2017 1H 2016

Cash flows from operating activities

Net profit for the year before income tax 61 079 164 63 192 299

Adjustments for:

Depreciation of fixed assets and amortization of other intangible assets 13 553 288 14 198 315

The company's share in associated companies' profits 1 206 695 (2 646 784)

Re-evaluation of a portfolio of investments held for trading Output (372 780) (1 305 642)

Financing expenses 5 370 833 5 370 833

Interest income (12 506 746) (6 678 738)

Capital gains (998 204) (66 611)

Provisions no longer required (10 603) (201 224)

Provisions other than depreciation 1 858 169 22 481 548

Re Impairment losses on receivables and debit balances (5 133 200) (33 086 991)

Impairment losses on receivables and debit balances 5 531 -

Re Impairment in assets value 3 000 000

The share of discontinued operations in the sister companies' profits - 296 494

Profit (loss) on disposal of discontinued operations - lost control - (11 092 038)

Operating profit before changes in assets & liabilities available from operating

activities61 925 035 50 461 461

Investments at fair value 2 329 254 82 692 184

Sales agents and notes receivable (23 039 896) (8 719 206)

Accounts receivable and other receivables (6 439 762) (827 859)

Inventory (5 810 129) 4 680 482

Work in progress 2 651 637 (869 755)

Suppliers and subcontractors 1 357 952 4 507 557

Payables and other credit balances 35 298 123 (20 241 906)

Egyptian General Petroleum Corporation 15 417 24 038 376

Frozen deposits - (18 649 997)

Time Deposits 93 608 039

Utilized provisioning (229 852) (166 800)

Financing expenses paid (6 146 505) (5 394 092)

Net change in assets of unconsolidated subsidiaries as a result of loss of control - (39 363 876)

Net cash available from (used in) operating activities 155 519 313 72 146 569

USD 1H 2017 1H 2016

Cash flows from investing activities

Interest income 12 810 044 5 427 161

Payments for purchase of fixed assets and projects under implementation (8 730 188) (5 898 469)

Payments for exploration and development assets 4 000 000 -

Proceeds from sale of fixed assets 15 66 611

Proceeds from the Egyptian General Petroleum Corporation (838 737) 5 413 709

Proceeds from sale of investments available for sale 14 576 522 4 469 307

Purchase of financial investments available for sale (14 732 221) (6 080 354)

Proceeds from Financial investments held- to-maturity 18 255 152 -

Financial investments held- to-maturity payments (11 544 321) (44 415 466)

Dividend paid of sister companies - 1 200 000

Payments for investments in Treasury bills more than three months (16 542 880) (31 112 088)

Proceeds from investments in Treasury bills more than three months 7 794 343 20 077 563

Net cash used in investing activities 5 047 729 (50 852 026)

Cash flows from financing activities

Repayment of long-term loans and bank facilities (9 992 067) (18 719 211)

Proceeds from long-term loans and bank facilities 1 664 356 -

Proceeds from loans and short-term bank facilities 38 792 128 56 175 770

Repayment of loans and short-term bank facilities (39 631 229) (95 606 612)

Proceeds from banks - overdraft 11 085 47 082

Outstanding of banks - overdraft (4 262 369) (38 153 612)

Purchase of non-controlling interest (19 055 040) (3 043 968)

Non-controlling stakes (12 698 394) 37 115 847

Dividends paid (38 670 7769) (36 824 402)

Net cash used in financing activities (83 843 306) (99 009 106)

Translation of financial statements of the accumulated differences (11 735 170) (4 023 482)

Net change in cash and cash equivalents during the year (88 459 906) (81 738 045)

Cash and cash equivalents at beginning of the period 103 682 428 346 901 181

Cash and cash equivalents at end of the year 192 142 334 265 163 136


APPENDIX 1: ORGANIZATION & GOVERNANCE


BOARD OF DIRECTORS

Mr. Moataz Al-Alfi

Chairman of the Board

and Chief Executive

Officer (Executive)

Mr. Loay Jassim Al-

Kharafi

Vice Chairman of the

Board (Non-Executive)

Mr. Sherif El Zayat

CEO (Executive)

Mr. Saad Al-Saad

Member of the Board

(Non-Executive)

Mr. Abdel Mohsen Al-

Fares

Member of the Board

(Non-Executive)

Mr. Marzouk Al-

Ghanim

Member of the Board

(Non-Executive)

Mr. Assad Al-Banwan

Member of the Board

(Non-Executive)

Mr. Hussein Al-

Kharafi

Member of the Board

(Non-Executive)

Mr. Ayman Laz

Member of the Board

(Non-Executive)

Sheikh Mubarak

Abdulla Al-Mubarak

Al-Sabah

Member of the Board

(Non-Executive)

Sheikh Fahd Hamed

Abdulah El Sabah

Member of the Board

(Non-Executive)

Eng. Amin Abaza

Member of the Board

(Non-Executive)

Independent

Mr. Talal Jassim Al-

Khrafi

Member of the Board

(Non-Executive)

Mr. Husam Mohamed

El-Sayed

Member of the Board

(Non-Executive)

Eng. Ismail Osman

Member of the Board

(Non-Executive)

Mr. Mohamed Kamel

Member of the Board

(Non-Executive)

Marzouk Al Kharafi

Member of the Board

(Non-Executive)

Mr. Hussam Al

Kharafi

Member of the Board

(Non-Executive)

Mr. Waleed El Zorba

Member of the Board

(Non-Executive)

Independent


MANAGEMENT TEAM

Mr. Moataz Al-Alfi

Chairman of the Board

and Chief Executive

Officer

Mr. Sherif El Zayat

CEO

Mr. Ayman Laz

Advisor to the Chairman

and CEO

Mrs. Sahar Farahat

Senior Executive Vice

President

Mr. Medhat Bonna

Group Chief Financial

Officer

Mr. Khaled El-

Demerdash

Group Legal Counsel

Mr. Tamer Badrawi

Chief Human Resources

& Communication

Officer

Mr. Hany Azzam

Head of Corporate

Governance

Mr. Hany Ezzat

Group Treasurer

Mr. Sayed Hussein

Sector Head — Cement

Mr. Alaa El Banna

Vice President —

Special Projects

Mr. Elhamy El Sheikh

Sector Head — Gas

Mr. Omar Foda

Director – Investments

Mr. Haitham Abdel

Moneim

Senior Investor

Relations Manager

Mr. Ashraf Abdel Aziz

Corporate Commercial

Director


KEY MILESTONES

1997

Establishment of

Egypt Kuwait

Holding (EKH)

1998

Establishment of

NatGas (gas distribution

company, with current partners

including Royal Dutch Shell and

GAIL India)

1999

• NatGas commences

operations

• Initial acquisition of a

significant stake in

Delta Insurance (an

Egyptian insurance

company)

2002

Acquisition of majority stake in

Egyptian Glass Company (EGC)

(at the time the largest glass

manufacturer in North Africa)

through a joint venture with

Guardian Industries

2003

• Establishment of AlexFert (nitrogen fertilizer plant)

• Acquisition of 11.75% in Egyptian Ferilizer Company (EFC)

(nitrogen fertilizer plant)

• Acquisition of a minority stake in Fayum Gas (gas

distribution company)

• Establishment of Nubaria Gas (gas distribution company)

• Establishment of Kahraba (provides electrical and

thermal energy solutions)

2004

Acquisition of an

additional stake in

Delta Insurance

2005

Participated in the bidding

process to acquire 100% of

EFC, which ultimately led to

the divestiture of the stake

2006

• AlexFert commences operations

• Establishment of Egyptian Tanker Company

(ETC) (crude marine transport services)

• Establishment of Gas Chill Company (provides

cooling/heating systems)

2007

• Capital increase by means of a c.USD 100 million rights issuance

• Acquisition of Sprea and Plastichem (chemicals company)

• Establishment of Building Materials Industries Company (BMIC)

(cement production company)

• Acquisition of a controlling stake in Fayum Gas through a joint

venture with GAIL India

2008

• Establishment of Nile Takaful and Nile Family Takaful

(an Egyptian insurance company) as a joint venture

with Tokyo Marine

2009

• Divestiture of EGC to

Guardian Industries

2011

• Investment in

Egyptian

Hydrocarbon

Corporation

(EHC) (mining

grade ammonium

nitrate Plant)

2012

• BMIC begins

operations

2013

• Divestiture of Nile Takaful to

Tokyo Marine

• Investment in a global

infrastructure fund management

company

2014

• Completion of a

capital increase by

means of a c.USD

110 mn rights

issuance

2016

• Sprea comments production of

Sulfonated Naphthalene

Formaldehyde (SNF) with design

capacity of 66,000 tpa.

• Acquiring additional 9% of Natgas

raising EKH ownership to 84%

2015

• Acquiring 18% of

Natgas raising EKH

ownership to 57%


CORPORATE CITIZENSHIP

Corporate Governance

Egypt Kuwait Holding (EKH) is committed to promoting a responsible, ethical business culture which safeguards the interests of our

shareholders, stakeholders, and the environment in which we operate. EKH assesses its policies and performance with respect to its Business

Principles; Code of Conduct; Health, Safety, Security and Environment (HSSE) policies; and major issues of public concern on behalf of the

Board. Our corporate governance policies and practices are guided by internationally recognized standards such as the OECD Principles of

Corporate Governance.

Corporate Social Responsibility (CSR) Projects

From its support of NGOs through applications and donations, to its involvement in spreading software knowledge to Egyptian universities,

Egypt Kuwait Holding is proud to have participated in numerous educational initiatives since 2014. EKH offers assistance to surrounding

schools, supplying them with computers to further develop students’ cognitive and technical skills and providing support for renovating the

infrastructure of the educational institutions.

EKH is an active supporter of Injaz Egypt, an organization working to bridge the gap between the education system and the private sector.

In partnership with the Ministry of Education and multinational and national companies, the program has positively impacted 500,000

Egyptian students in more than 451 public schools and 21 universities in 26 governorates since its establishment in 2003. Injaz Egypt is a

member nation of Junior Achievement, a global economic education organization with a presence in over 100 countries, impacting over 8

million youth worldwide

Egypt Kuwait Holding (EKH) prides itself on actively participating in sustainable development, focusing on improving communities in the

emerging economies in which it does business and working diligently to create a better future for coming generations. From educational

initiatives and contributions to NGOs and charities, to stringent measures aimed at minimizing its environmental footprint, EKH remains

deeply committed to ensuring a sustainable future.


Haitham Abdel Moneim

Senior Investor Relations Manager

Telephone : +202-3363300

Fax : +202-3358989

E-mail : [email protected]

Website : www.ekholding.com

mailto:[email protected]

http://www.ekholding.com/

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