INSPIRING OPPORTUNITIES

SECURITY. STABILITY. STRENGTH.

INFORMATION BRIEFOman Qatar Insurance Company SAOG (under transformation)Initial Public Offering

Oman Qatar Insurance CompanyÚeCÉà∏d ájô£≤dG á«fɪ©dG ácöûdG

Strong and experienced Group & Founders with50+years track record

Exceptional investment management

Proven performance & robust growth strategy

Well-developed digital channels, branchesand bancassurance

Focus on selective segments and profitability

Operational excellence

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Important Notice to InvestorsThis document does not constitute an offer to sell or an invitation to subscribe for any shares of Oman Qatar Insurance Co. SAOG (under transformation) (OQIC or the Company). Recipients of this document are responsible for taking their own independent professional advice on any investment in the company and for conducting an independent evaluation of the information contained herein. The content of this document is not to be construed as legal, business or tax advice.

While the utmost care has been taken to ensure that the facts stated are accurate and the opinions given are reasonable, neither U Capital nor any of its employees shall be in any way responsible for the contents. This material is being provided to you for information purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities referred to in this brief. Any such offer or invitation will be solely on the basis of the Prospectus of the company to the exclusion of this document.

Offer Summary

Issuer Oman Qatar Insurance Company SAOG (under transformation)

Listing Muscat Securities Market (MSM)

Offering 25,000,000 Shares i.e. 25% of the issued capital

Offer Price Bzs 160 per Offer Share, comprising a nominal value of Bzs 100 per Offer Share, premium of Bzs 58 per Offer Share and Offer Expenses of Bzs 2 per Offer Share

Categories Category I (65%): 16,250,000 sharesCategory II (35%): 8,750,000 shares

Application Limits (Shares) Minimum MaximumCategory l: 1,000 100,000Category II: 100,100 2,500,000

Eligibility Omani and Non-Omani individuals and juristic persons

Lead Issue Manager & Financial Advisor

Collecting Banks

Offer Dates Offer opens on 6th September 2017 and closes on 5th October 2017

Strong and experienced Group & Founders with50+years track record

Exceptional investment management

Proven performance & robust growth strategy

Well-developed digital channels, branchesand bancassurance

Focus on selective segments and profitability

Operational excellence

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Brief on OQICOQIC is among the leading emerging insurance companies in Oman and is tapping into profitable growth opportunities in the Oman insurance industry by focusing on selective lines of business and maintaining customer loyalty and retention. The Company offers security, stability and strength through strong underwriting discipline, a diverse distribution platform, exceptional asset management capabilities, focus on operational efficiency and costs, and the passion to deliver differentiated insurance offerings through technological innovation.Established in 2004, OQIC is a subsidiary of Qatar Insurance Company (QIC or the Group) and provides life and general insurance cover in Oman. The company operates through five retail branches and digital channels. OQIC believes in delivering innovative retail solutions for Home, Travel and Car Insurance to every segment of its customer base. The Company also serves as a link for providing insurance services across the GCC and helps connect overseas insurance interests through its global network.

19,494,667 19,963,98621,381,481

27,182,00030,710,000

14.5% CAGR

34,534,00038,486,000

42,571,000

2014 2015 2016 2017 (P) 2018 (P) 2019 (P) 2020 (P) 2021 (P)

78%

83%

77%

70%67%

64% 63% 62%

50%

55%

60%

65%

70%

75%

80%

85%

2014 2015 2016 2017 (P) 2018 (P) 2019 (P) 2020 (P) 2021 (P)Loss Ratio

GROSS WRITTEN PREMIUM(OMR)

LOSS RATIO

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OQIC’s parent, QIC, is a publicly listed composite insurer with a consistent performance history of over 50 years and a global underwriting footprint. Founded in 1964, QIC was the first domestic insurance company in the State of Qatar. Today, QIC is the market leader in Qatar and a dominant insurer in the GCC and MENA regions. The Group owns Qatar Re; a Bermuda-based global reinsurer, which was ranked as the 35th largest reinsurance company in the world by AM Best in 2016. In 2014, QIC acquired Antares, a leading integrated insurance and reinsurance vehicle in Lloyd’s market in the United Kingdom. QIC is one of the highest rated insurers in the Gulf region with a rating of A/Stable from Standard & Poor’s and A (Excellent) from A.M. Best. In terms of profitability and market capitalization, QIC is the largest insurance company in the MENA region. It is listed on the Qatar Stock Exchange and has a market capitalization of over USD 5 billion.

OQIC is supported by QIC Group’s treaty facilities with “A” rated reinsurers from international markets. At the same time, OQIC’s local shareholder, Al Hosn Investment SAOC, a leading business house in the Sultanate of Oman has rendered continuous support and guidance.

GWP BREAKDOWN BYLINE OF BUSINESSAs at Dec 2016

PRE-IPOSHAREHOLDING PATTERNAs at July 2017

TotalPersonal

Lines, 39%

TotalEnergy &

Marine, 26%

TotalProperty &

Liability, 28%

TotalMedical &Life, 7%

QatarInsuranceCompany

S.A.Q.,69.998%

Al HosnInvestment Company SAOC,

30.000%

Others,0.002%

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OQIC’s Investment PropositionStrong parent Group and Founders● Security, stability and strength: OQIC is part of the Qatar Insurance Group (QIC or QIC

Group), which the largest insurance and reinsurance group in the Middle East region. QIC is a highly profitable group with truly global platform and is rated ‘A’ / Stable outlook, by Standard & Poor’s and ‘A’ (Excellent) by AM Best. The Company is backed by its local partner, Al-Hosn Investment Company SAOC (HIC), which is supported by Ministry of Finance of the Sultanate of Oman. OQIC benefits from its parent group’s experience and regional dominance and leverages the in-depth local know how and relationship network of HIC. The strong relationship between QIC and HIC provides strength and stability to the Company’s operations.

● Exceptional investment management: The Company’s investment portfolio is managed by Qatar Economic Advisor (QEA), a wholly-owned subsidiary of the QIC. QEA, through its highly professional team, manages an asset base of over USD 6 billion. OQIC’s investment management is in compliance with CMA regulations. The team has a consistent track record in achieving investment performance.

● Robust risk management, compliance, IT and other support services: The Company benefits from various shared services from the QIC Group such as enterprise risk management, compliance, internal audit, IT infrastructure and services, reinsurance arrangements and other supporting activities. Access to these global best practice driven services gives OQIC an edge over its peers.

Significant market potential● Tapping opportunities in Oman insurance industry growth: Currently, Oman’s insurance

penetration levels are extremely low compared to the global average. As the Omani economy develops and diversifies, the country’s insurance penetration levels would be expected to increase significantly and result in a healthy premium growth in the insurance industry. The CMA, on its part, is making extensive efforts to enhance awareness in the Omani population of the need to manage risks through insurance. The much anticipated introduction of mandatory medical insurance for both Omani national and expatriates will also facilitate strong insurance industry growth. OQIC is looking achieve growth by tapping into the healthy growth opportunities in the Oman insurance industry and enhancing customer retention through differentiated product and service offerings.

● Focus on select and profitable lines of business: OQIC is continuously testing various products mix based on market trends and profitability. The Company’s strategy is based on facilitating sustainable and profitable growth in both its commercial and retail lines of business. OQIC also plans to focus on the underwriting quality in its medical and life business segment. In the past months, the Company has gained substantial traction and achieved prestigious wins in the energy, construction and aviation segment in Oman.

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Operational excellence● Customer retention: The Company focus will be on the renewals of existing customer

policies and to increase product density by cross selling additional lines of insurance to its base of commercial customer.

● Strong network development: The Company is planning to increase the direct distribution of retail products through its own branches and kiosks. During the past year, the Company added three full branches to its network to improve operational coverage and efficiency.

● Operational efficiency and cost optimization: The Company has taken a number of steps to improve operational efficiency and reorganized into a leaner and more efficient organization. The QIC Group central team has MENA regional functional heads for each business vertical. OQIC has access to expertise in business development, underwriting and claims management from the MENA regional functional heads.

● Strong human resources: OQIC has a talented team of highly motivated professionals across all its lines of business and operations. The Company is continually focussed on enhancing the skill sets of its employees through internal and external training programmes.

● Strengthening technology: The Company, through the support of international design teams, has implemented a user friendly online platform for the purchase of new and renewal policies. The Company is in an advance stage of launching an online claims portal in Oman, which will allow customers to seamlessly register their claims without visiting a brick and mortar outlet. QIC Group is investing heavily in a digital transformation initiative. The Group is in the second phase of digitally transforming the business model of its MENA retail operations and has implemented a one of the world’s leading customer relationship management solutions to significantly enhance its level of service and engagement with clients.

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OQIC’s Investment RationaleBelow are a set of key items and performance indicators from the Company historical and projected financial statements:

Key Financials Amounts in RO in million except percentages

2013 2014 2015 2016 2017 2018 2019 2020 2021

Gross written premiums (GWP) 18.8 19.5 20.0 21.4 27.2 30.7 34.5 38.5 42.6Net written premiums 9.0 9.3 10.5 9.5 10.1 11.4 13.9 18.6 21.6Underwriting results 2.6 1.6 1.0 1.7 2.6 3.2 4.0 5.1 6.3Investment and other income 1.3 1.5 (0.0) 0.8 1.8 1.0 1.1 1.2 1.3Total income (net of expenses) 2.1 1.2 (1.0) 0.7 2.6 2.2 2.9 3.9 4.9Profit after tax 1.9 1.0 (1.0) 0.7 2.3 1.8 2.5 3.3 4.2Loss ratio 59.4% 77.0% 76.9% 83.5% 66.5% 63.7% 58.5% 55.5% 58.1%Combined ratio 88.9% 102.2% 108.4% 99.5% 90.6% 87.6% 83.8% 82.5% 81.0%Return on equity 18.7% 9.8% -9.8% 7.4% 18.4% 11.8% 15.2% 18.5% 21.4%Return on assets 5.2% 2.8% -2.5% 1.6% 4.8% 3.4% 4.3% 5.5% 6.6%

Note: Applicants are advised to carefully read and evaluate the assumptions underlying the financial projections as set out in Note 6 – Key assumptions in the Chapter “Projected Financial Statements” and also, in particular, the information stated in Para 10.8 – Investment Risk, in the Chapter “Risk Factors” in the Prospectus. Applicants are also advised to take note of the statements set out in the accountant’s report accompanying the financial projections.

● Revenue growth: OQIC’s GWP has been on a high growth trajectory over the past few years and is expected to achieve accelerated growth in the years to come. The Company’s combined lines of business are projected to grow at a CAGR of 15%. The largest contributors to growth are expected to be medical insurance, in which the Company has achieved RO 3 million premium in Q1 2017 (vs. RO 0.6 million in full year 2017), and motor insurance.

In the coming months, Oman is expected to introduce compulsory medical insurance coverage for all nationals and expatriates. This will present OQIC with a tremendous growth opportunity.

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Key wins− Secured a three-year large group medical contract from a leading participant in the

Oman’s aviation industry. This contract will contribute to the healthy growth in the Company’s medical insurance business

− Won major accounts from leading organizations in Oman’s public and private sectors

− Secured the mandate from a leading bank in Oman for a several lines of business, including: life and medical, motor, travel, credit life, and home insurance. This will significantly boost Company’s GWP and profitability in the coming years.

● Retention levels: OQIC’s retention levels have remained stable at around 50% during its history of operations. In the coming years, the Company is expected to reduce retention levels due to increased reinsurance in its medical and life insurance portfolio. However, retention is expected to revert to historical levels by 2020 as a result of growth in non-medical and other non-life lines of business.

● Improvement in claims performance: In the past, the Company had a few large accounts, especially in the motor line of business, which generated higher losses and adversely impacted overall profitability. The Company has discontinued these loss making accounts and is carefully focusing on underwriting profitable business portfolios. Consequently, the loss ratios are projected to improve considerably and reach c. 60% by the end of the projection period.

● Profitable operations: The Company’s focus on targeting profitable business segments has already started yielding positive results. By mid-2017, OQIC already achieved half its full year net profit target of RO 2.3 million. Further the provision from past loss generating accounts is expected to discontinue in remaining half of 2017, thereby improving the profit considerably.

Key actions

− Management’s focus on underwriting quality has resulted in the non-renewal of high loss generating motor insurance business related to large business groups.

− The Company has rationalized headcount and plans to increase its focus on direct distribution to reduce costs and improve profitability.

− OQIC is establishing a captive third-party administrator (TPA), which will hire well-trained technical staff to manage the claims associated with the Company’s medical insurance business. This initiative will improve the profitability of OQIC’s medical portfolio by significantly reducing the cost of outsourced claims management.

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Key Valuation FeaturesPE MultipleAt the Offer Price of Baizas 160 per Share and based on the trailing 12 months EPS (July 1, 2016 to June 30, 2017 of RO 0.036 per share on the capital of 50 million Shares of nominal value Bzs 100 each amounting to RO 5 million), the PE multiple for the Company is calculated to be 4.4.

At the Offer Price of Baizas 160 per Share and based on the projected 2017 EPS, the PE multiple for the Company is calculated to be 6.9.

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19.616.4 11.3 13.4 9.0 9.1 15.9

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Price to book value (P/BV) multipleThe Company’s net worth as at 30 June 2017 was RO 9.9 million (unaudited). Subsequently, in July 2017 the Company increased its paid-in capital from RO 5 million to RO 10 million through issue of a stock dividend of RO 1 million and an at par rights issue of RO 4 million. The adjusted book value per share of the Company after the capital increase (in July 2017) is RO 0.139. At the offer price of 160 baizas per share, the price to book value multiple for the Company is calculated to be 1.15 based on the adjusted net worth post capital increase (July 2017).

At the Offer Price of 160 baizas per share and based on the projected book value as at 31st December 2017 (post IPO), the PB multiple for the Company is calculated to be 1.06.

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Proposed Dividends & YieldThe projected dividend yield of the Company at the Offer Price for the projection period is set out below:

2018 2019 2020 2021 2022Projected dividend per Share (Bzs) - paid in the year 7 13 14 18 23Dividend yield (%) * (Note) 8.8% 8.1% 8.8% 11.3% 14.4%

* based on an Offer price of Baizas 160 per Share.

Note: Dividend yield is annualized for 2018, considering 6 months holding period for IPO investors.

Dividend YieldAt the Offer Price of Baizas 160 per Share, OQIC is providing attractive yield throughout the projected period of 2017-2021, as compared to local and regional averages.

8.80% 8.10% 8.80%

11.30%

14.40%

8.2%

5.0%

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2.00%

4.00%

6.00%

8.00%

10.00%

12.00%

14.00%

16.00%

OQIC -2018

OQIC -2019

OQIC -2020

OQIC -2021

OQIC -2022

OmaniAverage

Yield

RegionalAverage

Yield

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Expected Offer TimelineProcedure DateCommencement of subscription 6th September, 2017Closing of subscription 5th October, 2017Due date for the Issue Manager to receive the subscription data and final registers from the Collecting Banks

11th October, 2017

Notifying the CMA of the outcome of the subscription and the proposed allotment

12th October, 2017

Approval of the CMA with regard to the proposed allotment 15th October, 2017Completion of the allotment procedures and commencement of refund

16th October, 2017

Listing of the Shares on the MSM 19th October, 2017

How to Apply!If you are interested in applying for Shares in the Company, you should carefully review the information in the Prospectus, before deciding to invest. This can either be found online at www.oqic.com or obtained at branches of Collecting Banks – Bank Dhofar, National Bank of Oman and Oman Arab Bank, or the CMA website www.cma.gov.om.

If you decide to proceed, you should complete the Application form, which may be collected from a branch of one of the Collecting Banks and submit it, together with the application money by cash, cheque, demand draft or account transfer. You can only submit one application. Submission of a second Application form will be treated as a multiple application and will be rejected. If you wish to subscribe, you must hand in your completed Application and application money before close of official working hours on 5th October 2017 at any branch of the Collecting Banks – Bank Dhofar, National Bank of Oman, and Oman Arab Bank.

Further details on subscription procedures are provided in the Prospectus of the company.

www.u-capital.net

This document has been prepared by U Capital for information purposes only and is for the benefit of investors who may subscribe through the Prospectus of the company. The Prospectus is the formal offer document pursuant to which the initial public offering is being made. You must obtain, and read in full, a copy of the Prospectus, before deciding whether to invest in Shares of Oman Qatar Insurance Co. SAOG (under transformation). Such a decision is subject to certain risks, which are set out in detail in the Prospectus (Chapter 10) of the company and any decision to subscribe for Shares must be based solely on the Prospectus and not on this document. This document is not, and is not intended to be, a substitute for the Prospectus. Copies of the Prospectus may be obtained at branches of “Collecting Banks” in Oman, as well as from the website: www.oqic.com. Any subscription for Shares in the Offering must be made pursuant to an Application in the form provided by Oman Qatar Insurance Co. SAOG (under transformation) in relation to the IPO (an “Application”). Applications may be obtained at branches of the Collecting Banks in Oman.