April 2018 Agenda

ODE : Leading Developer of Fully Integrated Towns

Projects Overview

Operational and Financial Summary

Appendix Orascom Development Egypt (ODE) Today

The Only Leading Developer of One of The Largest One of The Largest Hotels Fully IntegratedTowns Land Banks Portfolio 27 hotels, 20 self-managed and 7 Including Real Estate, Hotels. activities, 45.7 million sqm, out of which under management with a total of marinas Leisure, golf courses, hospitals, 27.6 million sqm is still 6,035 rooms schools & all supporting infrastructure undeveloped

Spearheaded by a seasoned El Gouna Won The Green Town Executive Management Team Award In 2014 with unparalleled expertise in the travel, tourism and real estate sector level 59% MORE THAN Of our hotels in Egypt are certified with 3 to 5 30 Green Star Star Hotels Awards To suit different During 2017 for our 30 YEARS hotels standards DEVELOPMENT EXPERIENCE 4 Operating Destinations El Gouna, Taba Heights, Makadi, & Continuous Progress on Fayoum Strategy Execution Fully integrated destinations offering Achieved all communicated targets of hotels, residential units and luxury leisure 2017

Listed on EGX Approx. 6,754 Employees Real Estate Sales over with 221,661,475 outstanding shares As of December 31, 2017 EGP 8.5 bn ODH owns 76.59% of ODE Since 1997 3 ODE is a Pioneer Developer of Self-Sufficient Resort Towns

Company Overview Shareholding Structure 1

▪ Orascom Development Egypt (“ODE” or the “Company”) is an integrated developer of resort towns, involving the development of residential units, hotels, and recreational facilities such as golf courses, town centers, and 23.41% marinas, in addition to supporting infrastructure, such as hospitals, ODH ODE schools, and utilities. Free Float ▪ Boasting a land bank of 45.7 mn sqm and a comprehensive hospitality 76.59% portfolio of 6,035 rooms, the Company’s diversified portfolio is spread over 4 destinations including El Gouna, Taba Heights, Makadi and Fayoum. ▪ ODE is listed on the Egyptian Stock Exchange (EGX) with a market cap of EGP 7.5 bn1

Organizational Structure Key Financial Indicators (EGP mn)

El Gouna Taba Heights Makadi Fayoum Total Revenue 2,603 EBITDA 1,772 1,182 1,425 1,399 1,195 1,435 1,455 151 562 610 88 173 -55 Key Projects 2011 2012 2013 2014 2015 2016 2017 2011 2012 2013 2014 2015 2016 2017

1 As of April 12, 2018. Total 36.92 mn 4.27 mn 3.44 mn 1.08 mn 45.71 mn Land sqm sqm sqm sqm sqm 2 Includes 27 rooms for the floating hotels. Bank

Number of Hotels 16 Hotels 6 Hotels 3 Hotels 1 Hotel 26 Hotels

Number 2,480 2,365 1,113 50 6,035 of Rooms Rooms Rooms Rooms Rooms Rooms2

4 Unique, Vertically Integrated, Business Model…

Acquisition Development Phase Operational Phase phase

Land Bank Value Creation

New Real Estate RE Owner Services destination identification Hotel Development Hotel Operations acquisition & initial concept Destination Development Destination Operations

Project Management Operations Management

Planning & Design Construction Property & Facility

Management

offs

Initial destination conceptInitialdestination concept destinationDetailed andsalesconcept Marketing strategy sign Product salesof Start constructionof Start overhand / Operator Internal / over handBuyeropening operationof Start Periodicassessmentof service and performance quality

5 Business Segments - Overview

Hotels Real Estate Town Management Tamweel Group

▪ 27 Hotels , total of 6,035 rooms ▪ Land bank acquired at nominal ▪ Public services &infrastructure ▪ Tamweel; Mortgage Company costs ▪ 20 self managed, 7 under- maintenance that includes: management ▪ Sale of middle-to-upper scale ▪ Water Services ▪ Orascom Hotels Management apartments & villas to private (OHM) manages company’s clients ▪ Sewage treatments hotel inventory ▪ In-house sales force as well as ▪ Electricty international distribution ▪ 535 retail outlets channels ▪ 55 restaurants/bars ▪ Off-plan sales with customer prepayments ▪ 5 schools & one university ▪ Sales of over EGP 8.5 Bn 1 ▪ 2 hospitals ▪ 4 marinas and 3 golf courses

Revenues FY 2017 Revenues FY 2017 Revenues FY 2017 Revenues FY 2017 EGP 1,059.7 mn EGP 773.5 mn EGP 438.5 mn EGP 331.3 mn

1 From 1997-FY 2017 (gross number)

6 El Gouna - Egypt

El Gouna - Egypt

7 7 Agenda

ODE: Leading Developer of Fully Integrated Towns

Projects Overview

Operational and Financial Summary

Appendix El Gouna - World Class Destination on the Egyptian Red Sea Coast

▪ Total land area : 36.92 million sqm , Developed: 15.0 million sqm, (40.6% developed) ▪ 16 hotels with 2,521 rooms ( five 5 *s , eight 4 *s and three 3*s) El Gouna Key Facts ▪ A private, self-sufficient town built on 10 km of the Red Sea coastline and located north of Hurghada, 35km from the Hurghada International Airport ▪ The town offers a range of facilities such as a hospital, two 18-hole championship golf courses, three marinas, four schools, a library, and a university

Hotel KPIs, EGP Visitors Breakdown by Nationality in FY 2017

1200 77%90% 3% Germany 80% 3% 61% 60% 56% 4% 1000 70% 60% Egypt 800 56% 54% 958 60% 6% 804 50% 600 40% Others

30% 12% 48% 400 525 463 20% Netherland 200 393 408 421386 414439 374357 373 365 10%

0 0% Belgium 2011 2012 2013 2014 2015 2016 2017 24% UK ARR TRevPar Occ. Rate Swizerland

Real Estate KPIs Destination Update

47 61 82 121 183 215 258 ▪ Net sales increased by 86.3% to reach EGP 1,434.6bn in FY 2017 vs. EGP 769.9mn in FY 2016. 1,600 35.3 40.0 35.0 ▪ Hotels GOP more than doubled to reach EGP 419.0mn vs. EGP 133.0mn in FY 1,400 26.0 1,200 20.4 1,435 30.0 2016. 1,000 18.5 18.8 19.3 25.0 14.9 800 20.0 ▪ Successfully launched a real estate project called “Abu Tig Hills” in Q4 2017 with a 600 817 15.0 total inventory of USD 22.0mn and was sold out completely. 400 572 10.0 200 167 126 258 377 5.0 ▪ Continuing with the renovation works across some of our hotels with plans to be 0 0.0 finalized during 2018. 2011 2012 2013 2014 2015 2016 2017 ▪ Launched Phase II of G-Space by end of Dec. 2017 and all offices were rented out. Value of Contracted Units, EGPmn ▪ In Jan. 2018 we released new inventory in Tawila project. Total Phase III inventory Average Price/sqm, EGP,000 No of Units is EGP 776.2mn (USD 44.1mn). The sales are witnessing a positive momentum. ▪ Planning to launch a new real estate project in April with a total inventory of EGP 1.4bn (USD 80.0 mn). ▪ Looking into adding more hotel rooms and possibly a new hotel in 2019. 9 Taba Heights – Sinai’s Premium Destination

▪ Total land area : 4.27 million sqm, Developed: 2.56 million sqm, (60% developed) ▪ 6 hotels; 2,365 rooms (five 5* s and one 4 *s) Taba Heights Key Facts ▪ Taba Heights is situated between the mountain ranges of the Sinai Peninsula only 25 km away from Taba International Airport ▪ The town offers a marina and a golf course alongside a wide range of facilities such as a medical center, child daycare services, a school, and a vibrant up-town center

Hotel KPIs, EGP Visitors Breakdown by Nationality in FY 2017

4% 400 60% 51% Egypt 44% 372 50% 11% 357 365 41% 300 345 344 348 Jordan

312 33% 40% 27% 11% 41% 273 20% Ukraine 200 252 27% 30% 215 206 186 Israel 20% 33% 100 133 144 Others 10%

0 0% 2011 2012 2013 2014 2015 2016 2017 Destination Update

ARR TRevPar Occ. Rate ▪ Taba Heights remains the most challenging destination for the group due to the extended travel bans on Sinai. ▪ Nonetheless, the new measurements that were implemented, comprising strict cost-cutting measures, centralization of services and suspension of operations, limited the impact at Taba Heights. ▪ To date we have 1,260 operating rooms out of 2,365 rooms compared to only 718 rooms operating in FY 2016. This will make 4 hotels out of 6 open. ▪ Potential upside after Russians are back to Hurghada and Sharm El Sheikh. ▪ In 2018 we expect Taba destination to cash breakeven compared to previous losses in the previous years. 10 Makadi -The First Gated Community In The Heart Of Hurghada

▪ Total land area : 3.44 million sqm, Developed: 0.45 million sqm , (13.1% developed) ▪ One 4* hotel with 283 rooms + two 4* & 5* Azur Hotels with a total of 830 rooms, Royal Azur, a 5* Hotel (491 rooms) Makadi & Club Azur, a 4* Hotel (339 rooms) Key Facts ▪ Makadi is the first gated community in the Hurghada region, only 30 km away from Hurghada International Airport. The town features residential units and hotels, along with spacious commercial area, a medical center, among other services

Real Estate KPIs Destination Update

96 54 52 57 20 16 2 ▪ Finalized the construction and opened the club house in Q1 2018 30 6.0 4.4 4.6 5.0 4.6 5.0 4.0 4.0 4.8 20 4.0 ▪ Relaunching Makadi destination with a new product offering

3.0 27.0 in April 2018. 10 23.0 2.0 15.0 17.0 8.0 1 1.0 5.0 0 - ▪ Sold the 3 hotels plus a land plot in Makadi. Total cash 2011 2012 2013 2014 2015 2016 2017 proceeds from the sale is c. EGP 492.8 million. The sale will also result in the deconsolidation of EGP 260.1 million of debt.

Value of Contracted Units, EGPmn Average Price/sqm ,000 No of units

11 Byoum –The Heart of Fayoum, On Lake Qarun

▪ Total land area : 1.08 million sqm, Developed: 0.32 million sqm , (29.6% developed)

Fayoum ▪ One 4* hotel with 50 rooms Key Facts ▪ Located 100 km southwest of Cairo in an ideal location overlooking the spiritual lake of Qarun. Plans are set to develop two luxury residential communities, hotel, hunting lodge, commercial area and a beach club.

Real Estate KPIs Destination Update

3 4 21 ▪ Opened Byoum Lakeside Hotel in September 2016 with 50 30 rooms recording an occupancy of 39% in FY 2017.

20 ▪ The destination continued its positive appeal with net sales 27.2 increasing to EGP 27.2mn in FY 2017 vs. EGP 2.6 mn in FY 10.9 10 7.8 2016. 4.3 1.5 3.8 0 2015 2016 2017 Value of Contracted Units, EGPmn Average Price/sqm,000 No of units

Hotel KPIs, EGP

800 44% 43% 700 43%

600 42% 500 668 39% 41% 400

40% 300 413 200 472 39% 323 100 38%

0 37% 2016 2017 ARR TRevPar Occ. Rate 12 Taba Heights - Egypt

13 13 Agenda

ODE: Leading Developer of Fully Integrated Towns

Projects Overview

Operational and Financial Summary

Appendix Key Highlights from ODE FY 2017 Orascom Development Egypt; Continuously Delivers Solid Earnings Performance. Revenues increased by 78.8% to EGP 2,603.0 billion vs. EGP 1,455.5 billion in FY 2016 and Net Profits reached EGP 392.0 million. Board proposes a Cash Dividend of EGP 1.0 per share.

➢ Achieved net real estate sales target of the year recording an increase of 87.5% to EGP 1,462.8 billion vs. EGP 781.0 million in FY 2016. ➢ Real Estate revenues increased by 65.1% to EGP 773.5 million vs. EGP 468.6 million, on the back of increased unit deliveries. ➢ Hotels revenues more than doubled to reach EGP 1,059.7 billion vs. EGP 499.7 million in FY 2016. ➢ Hotels Gross Operating Profits (GOP) increased by 299.2% to reach EGP 413.6 million vs. EGP 103.6 million in FY 2016. ➢ Town Management revenues increased by 59.4% to EGP 438.5 million vs. EGP 275.1 million in FY 2016. ➢ Adjusted EBITDA increased by 139.3% to reach EGP 1,021.4 billion vs. EGP 426.9 million in FY 2016. ➢ Net profit during the period reached EGP 392.0 million vs. a net loss of EGP 499.5 million in FY 2016. ➢ Ordinary General Assembly approved the sale of the 3 hotels in Makadi and in parallel we are working on reducing the debt by EGP c. 1.0 billion which will generate interest savings of c. EGP 600.0 million over the coming 6 years. ➢ Extraordinary General Assembly approved a 5:1 stock split with plans to be finalized in April 2018 and the Employee Stock Ownership Program (ESOP). ➢ The Board of Directors decided to propose to the AGM a cash dividend of EGP 1.0 per share.

15 Business Segments FY 2017

Revenue EBITDA Adj. EBITDA1 (EGP mn) FY 2017 FY 2016 Δ in % FY 2017 FY 2016 FY 2017 FY 2016 Hotels 1,059.7 499.7 112.1% 535.7 (54.5) 434.0 50.4 Real Estate 773.5 468.6 65.1% 491.0 558.6 477.8 270.0 Land - - - - 242.82 - 22.7 Town Management2 438.5 275.1 59.4% 71.3 36.8 67.9 31.6 Tamweel Group 331.3 212.1 56.2% 116.0 85.9 120.7 89.3 Corporate & - - - (31.7) (696.4) 4 (79.0) (37.2) Unallocated Items ODE Group 2,603.0 1,455.5 78.8% 1,182.3 173.2 1,021.4 426.8

1 Adjusted EBITDA: EBITDA adjusted for non cash items (which includes provisions & impairments, other gains and losses, FX gains & share in associates) 2 The amount represent FX gain from previous land sale that took place in 2015. 3 Town Management includes revenues from Utilities and services, Hospital, Marina, Golf, Rentals, Educational services, Limousine, and other town amenities. 4 The EBITDA losses in FY 2016 is mainly due to the devaluation of EGP that took place in November 2016.

16 Business Segments 4Q 2017

Revenue EBITDA Adj. EBITDA1 (EGP mn) 4Q 2017 4Q 2016 Δ in % 4Q 2017 4Q 2016 4Q 2017 4Q 2016 Hotels 325.6 169.0 92.7% 122.7 (45.4) 123.4 21.6 Real Estate 347.1 174.9 98.5% 190.3 327.9 186.3 109.6 Land - - - - 180.12 - (5.2) Town Management2 126.1 91.1 38.4% 33.4 19.5 29.3 16.1 Tamweel Group 81.8 60.8 34.5% 24.4 19.9 25.6 21.9 Corporate & Unallocated - - - (17.0) (493.5) 4 (4.9) (12.0) Items ODE Group 880.6 495.8 77.6% 353.8 8.5 359.7 152.0

17 Real Estate KPIs FY 2017, 4Q 2017 & Deferred Revenue

Net value of Contracted Number of Contracted Average Selling Price Units (EGPmn) Units (EGP/m2) Destination FY 17 FY 16 FY 17 FY 16 FY 17 FY 16 El Gouna 1,434.6 769.9 258 197 35,301 26,004 Fayoum 27.2 2.6 21 3 10,920 7,844 Makadi 1.0 0.6 2 1 4,839 4,555 Gardania - 7.9 - 1 - 12,188 ODE Group 1,462.8 781.0 281 202 32,981 24,747

Destination 4Q 17 4Q 16 4Q 17 4Q 16 4Q 17 4Q 16 El Gouna 475.7 295.5 85 75 36,906 28,615 Fayoum 9.6 - 5 - 10,793 - ODE Group* 484.9 294.0 89 76 33,435 27,955

Revenue Recognition Schedule (EGPmn)

Destination Deferred Revenue Balance 2018 2019 2020 2021 El Gouna 1,475.5 1,035.7 439.8 - - Fayoum 28.9 2.8 15.1 6.0 4.9 Makadi - - - - - ODE Group 1,504.4 1,038.5 454.9 6.0 4.9

* Includes EGP 0.4mn of cancellation in Makadi in 4Q17 vs. EGP 1.5mn in 4Q16 and also cancellation of one unit in both years. 18 Hotel KPIs FY 2017 & 4Q 2017

Total number of hotel Number of available Occupancy for TRevPAR* GOP PAR** rooms rooms available rooms (%) (EGP) (EGP)

Destination FY 17 FY 16 FY 17 FY 16 FY 17 FY 16 FY 17 FY 16 FY 17 FY 16

El Gouna1 2,480 2,473 2,480 2,473 77 59 958 463 455 148

Taba Heights2 2,365 2,365 1,260 718 27 30 186 206 (29) (45)

Fayoum3 50 50 50 50 39 43 413 323 27 (209)

Floating Hotel 27 27 27 27 19 7 1,807 516 590 (188)

Makadi4 1,113 1,113 - 491

ODE Group 6,035 6,028 3,817 3,759

Destination 4Q 17 4Q 16 4Q 17 4Q 16 4Q 17 4Q 16 4Q 17 4Q 16 4Q 17 4Q 16 El Gouna1 2,480 2,473 2,480 2,506 76 66 1,072 642 529 348 Taba Heights2 2,365 2,365 1,260 718 17 22 143 223 (42) 31 Fayoum3 50 50 50 10 38 45 563 340 180 (157) Floating Hotel 27 27 27 27 23 14 2,771 1,019 1,344 155 Makadi4 1,113 1,113 - 491 ODE Group 6,035 6,028 3,817 3,759

1. In FY 17 we transferred 87 hotel rooms of Fanadir and Bellevue into real estate products and in Q3 2017 Ancient Sands hotel room increased by 94 rooms. 2. During FY 2017, only 4 hotels were operating (Sofitel with 442 rooms, Strand Beach Hotel with 503 rooms, El Wekala Hotel with 215 rooms and 100 rooms in Bay View Hotel out of 394 existing rooms). Whereby, only 2 hotels were operating representing 718 rooms in FY 2016. 3. In September 1st, 2016, Byoum Lakeside Hotel was opened. 4. Our 3 hotels in Makadi were rented to FTI Group since Jan. 2017. Where by in FY 2016 only 1 hotel was operating (Royal Azur with 491 rooms).

* Financial KPIs are calculated based on the number of available rooms during the reported period of FY 17 and 4Q 17. ** Includes all expenses of the hotels in the destinations. 19 Income Statement FY and 4Q 2017, EGP Million

(EGP mn) 4Q 2017 4Q 2016 FY 2017 FY 2016 Notes

Revenue 880.6 495.8 1 2,603.0 1,455.5 1 Revenues and gross profit increased due to the Cost of sales (541.6) (321.3) (1,619.5) (1,015.9) enhanced operational performance across all business segments. Gross profit 339.0 174.5 1 983.5 439.6 Investment income increased mainly due to: Gross profit margin 38.5% 35.2% 37.8% 30.2% 2 • The increase in real estate cash collection. Investment income 50.7 16.9 2 122.1 60.1 • Increase in interest income on bank deposits.

Other gains and losses (18.9) (157.1) 3 157.5 (244.7) 3 Other gains and losses includes: Administrative expenses (21.0) (24.2) (84.2) (72.9) • Gains in relation to settlement of borrowings Share of associates in the amount of EGP 114.0mn. 4.0 (1.6) 3.4 (8.9) gain/(losses) 4 • FX gain of EGP 41.4mn. • Other gains of EGP 14.3mn. EBITDA 353.8 8.5 1,182.3 173.2 • Other losses of EGP 12.2mn. Depreciation (56.1) (103.3) (222.0) (224.3) 4 The share of associates gain is due to the Finance costs (131.9) (141.5) 5 (439.5) (340.4) enhanced operations of the associate companies. Income tax expense (42.6) (81.4) 6 (128.8) (108.0) 5 Net profit/(loss) for the Increase in Finance costs mainly due to: 123.2 (317.7) 392.0 (499.5) period • Increase in interest rates. • Increase in the translation of USD Attributed as follows: denominated loans when translated to EGP. ODE shareholders 94.7 (227.2) 288.4 (377.5) 6 Income Tax expense increased due to the Non-controlling interest 28.5 (90.5) 103.6 (122.0) increase of the profitability of the company. 20 Basic EPS (EGP) 0.4 (1.0) 1.3 (1.7) Balance Sheet FY 2017, EGP Million

(EGP mn) 31.12.17 31.12.16 Notes

Property, plant and equipment 1 3,481.0 3,814.3 1 PPE decreased mainly due to the reclassification of the Inventory 2 624.6 586.0 3 hotels in Makadi to assets held for sale. Receivables 1,578.9 1,428.4 Cash and bank balances 3 1,257.8 871.1 2 Inventory increased mainly due to: • Acceleration of the construction of real estate units Investments in associates 112.8 109.3 in El Gouna. • Other assets 1,025.0 940.4 Transferring some hotel rooms into real estate units. Non-current assets held for sale 1,976.9 1,349.4 3 Increase in cash is due to: Total assets 4 10,057.0 9,098.9 • Increase in profitability across all business segments. Borrowings 4,425.4 4,647.4 • The increase in real estate collection. Payables 363.1 352.7 4 Asset and liabilities held for sale include the following: Provisions 292.9 317.9 • Tamweel Group. • Makadi hotels which was transferred during the Other liabilities 5 1,345.7 1,087.7 period as a result of the OGM approval to sell the Liabilities related to assets held for existing three hotels in Makadi. 1,689.7 1,117.6 sale 5 Other liabilities increased mainly due to: Total liabilities 4 8,116.8 7,523.3 • Proceeds from one of our co-investors in one of our Non-controlling interests 460.2 355.7 subsidiaries. Equity attributable to ODE • Increase of advanced payments from our real estate 1,480.0 1,219.9 shareholders sales.

Total liabilities and equity 10,057.0 9,098.9 21 Cash Flow Statement FY 2017, EGP Million

(EGP mn) FY 2017 FY 2016 Notes

Cash from operations 1 617 798 1 Cash flow from operations decreased mainly Interest paid 2 (27) (40) due to: • Increase in construction cost. Taxes paid 3 (58) (36) • Increase of Tamweel Mortgage activities Operating Cash Flow 1 532 722 during FY 2017.

Payments for PP&E 4 (218) (452) 2 Interest paid decreased as a result of capitalized Other items 120 99 interest of 1H 2017.

Investing Cash Flow (98) (353) 3 Taxes increased due to the increase of the profitability of the company. Change in Borrowings 5 5 (284) Payments for PP&E includes payments related Other Items - (11) 4 to Tamweel leasing activity and hotels Financing Cash Flow 5 (295) renovations during the period and other Net change in cash/equivalents 439 74 amenities across our destinations.

Cash & bank balances beginning of period 895 821 5 Change in Borrowings mainly resulting from: (-) Debt repayment of EGP 236mn. Cash and bank balances end of period* 1,334 895 (+) Loan proceeds related to Tamweel for EGP 158mn. (+) Proceeds from other shareholders EGP 83.0mn. * Includes cash related to assets held for sale.

22 Financing Profile 1

Interest expense by currency Total debt by currency in %, as of 31.12.17 in %, as of 31.12.17

4% 6% 19%

41%

55% 75%

EGP USD EUR EGP USD EUR

31.12.17 31.12.16

Equity ratio (%)2 19.3% 17.3%

Cost of debt (%)3 10.1% 7.7%

1 All debt figures exclude debt relating to assets held for sale (Tamweel and Royal) 2 Equity Ratio = Total Equity/Total Asset. 3 After the effectiveness of Club Med and the syndication agreements with the banks. 23 Outlook 2018

➢ ODE’s expected cash proceeds from its stake sale in the 3 hotels in Makadi + a land plot is c. EGP 492.8 million. The sale will result in the deconsolidation of EGP 260.1 million of debt, with an expected one-off gain of c. EGP 373.8 million. ➢ Proceeds of the approved sale in addition to the proceeds from the sale of Tamweel Group and excess cash from operations will be used to: 1. Reduce the debt by c. EGP 1.0 billion of debt. 2. Generate interest savings of c. EGP 150 million in the first year and a total of c. EGP 600 million over 6 years. 3. Further optimize our repayment schedule.

Current Maturity as of FY 2017 Maturity Profile after ODE Rescheduling in 2018

Cost of Debt is 10.1% Cost of Debt is 8.6%

1,140 1,178 974 779 681 588 426 451 425 469 362 298 121 2 0 2 64 0

CF 2018 2019 2020 2021 2022 2023 2024 2025 CF 2018 2019 2020 2021 2022 2023 2024 2025

➢ EGM approved the stock split at a ratio of 5:1, expected to be finalized in April 2018 and also approved the proposed ESOP. ➢ Relaunching Makadi destination with a new product offering in April 2018. ➢ Actively progressing with negotiations to acquire land in Cairo and North Coast to enter the first and second home markets. ➢ Positive KPI indicators for the Real Estate and Hotels segments for the first quarter of 2018. 24 El Gouna - Egypt

25 Agenda

ODE: Leading Developer of Fully Integrated Towns

Projects Overview

Operational and Financial Summary

Appendix Taba Heights- Egypt

27 Income Statement, EGP Million

2010 2011 2012 2013 2014 2015 FY 2016 FY 2017 Total Revenues 2,099 1,415 1,399 1,195 1,435 1,773 1,455 2,603 Cost of sales (1,295) (1,046) (1,066) (987) (1,055) (1,019) (1,016) (1,611) Depreciation Expense (177) (178) (162) (130) (143) (154) (224) (222) Gross Profit 627 191 171 78 237 600 215 770 % Margin 30% 13% 12% 7% 17% 34% 15% 30% Administrative expenses (83) (72) (79) (80) (69) (62) (110) (84) Investment income 46 73 39 35 29 70 60 122 Other gains and losses 121 (77) (161) (106) 226 (105) (163) 158 Provisions (14) (108) (49) (112) - (29) (44) (9) Finance costs (93) (138) (187) (230) (242) (225) (340) (439) Share of profit of associates (8) (33) (2) - (3) (17) (9) 3 Profit / (Loss) before tax 596 (164) (268) (415) 178 232 (391) 521 % Margin 28% -12% -19% -35% 12% 13% -27% 20% Income tax expense (46) (5) (67) (147) (71) (26) (108) (129) Profit / (Loss) from continuing operations 550 (169) (335) (562) 107 206 (499) 392 % Margin 26% -12% -24% -47% 7% 12% -34% 15% Profit / (Loss) from discontinuing operations - (1) 7 - - - - - Total income statement 550 (170) (328) (562) 107 206 (499) 392 Non-controlling interests 84 (12) 27 (9) 6 (23) (122) 104 Owners of the Parent Company 466 (158) (355) (553) 101 229 (377) 288

Total income statement 550 (170) (328) (562) 107 206 (499) 392 Finance costs 93 138 187 230 242 225 340 439 Income tax expense 46 5 67 147 71 26 108 129 EBIT 689 (27) (74) (185) 420 457 (51) 960 % Margin 33% -2% -5% -15% 29% 26% -3% 37% Depreciation Expense 177 178 162 130 143 154 224 222 EBITDA 867 151 88 (55) 564 610 173 1,182 % Margin 41% 11% 6% -5% 39% 34% 12% 45%

28 Balance Sheet, EGP Million

2010 2011 2012 2013 2014 2015 FY 2016 FY 2017 Cash & Cash Equivalents 452 244 240 189 463 821 871 1.258 Net Receivables 599 582 395 252 390 454 790 916 Total Inventory 829 1,111 985 1,122 649 645 586 624 Debtors and other Debit Balances 367 295 254 244 219 120 165 239 Due from Related Parties 1,019 994 1,125 1,011 857 443 519 569 Assets Held for Sale - - - 1,223 - - 1,349 1,977 Other Current Assets - 48 56 - 26 28 - - Total Current Assets 3,267 3,273 3,055 4,042 2,604 2,511 4,280 5,583 Net Plant & Equipment 3,769 3,827 3,837 3,548 3,744 3,836 3,814 3,481 Long Term Receivables 500 535 525 196 458 804 638 663 Goodwill 51 51 51 51 51 51 51 51 Investments in associates 179 146 38 0 115 98 109 113 Investment Property 488 491 550 78 86 87 92 90 Other Long Term Assets 95 163 162 98 94 84 115 76 Total Assets 8,349 8,486 8,217 8,014 7,152 7,471 9,099 10,057 Short Term Debt 1,315 1,556 1,482 1,488 1,930 2,121 3,624 4,243 Accounts Payable 188 151 140 130 107 125 148 165 Creditors and Other Credit Balances 722 719 579 602 604 652 672 931 Liabilities Held for Sale - - - 655 - - 1,118 1,690 Provisions 169 266 221 333 230 299 318 293 Due to Related Parties 118 150 215 253 35 39 62 27 Other Current Liabilities 89 30 36 110 44 36 38 101 Total Current Liabilities 2,602 2,873 2,673 3,572 2,950 3,272 5,980 7,450 Long Term Debt 1,566 1,547 1,732 1,207 1,297 1,152 1,023 183 Land Liability 220 201 221 201 166 137 204 198 Shareholders’ Current Account 59 44 53 85 10 - - - Other Long Term Liabilities 243 267 285 235 232 217 316 286 Total Liabilities 4,690 4,933 4,963 5,300 4,655 4,778 7,523 8,117 Minority Interest 722 771 821 828 514 481 356 460 Shareholders' Equity 2,937 2,783 2,433 1,885 1,983 2,211 1,220 1,480 Total Liabilities & Equity 8,349 8,486 8,217 8,014 7,152 7,471 9,099 10,057 29 New and Ongoing Real Estate Projects

30 Joubal Views, Extension to Joubal Launched & Sold Out

Project Description: Built on carefully crafted elevated land & designed to give residents a panoramic view of their surroundings. From different levels; residents can see the marina, the sea, and the mountains.

Key Facts Product 1 Product 2 Location El Gouna, Egypt Type Twin Villas Type Villas Launch Date September 2015 No of units 8 No of units 5 Footprint (sqm) 1,304 Total BuA (sqm) 1,336 Total BuA (sqm) 1,225 Final Delivery September 2018 Inventory value, USD 3,600,000 Inventory value, USD 3,750,000

31 Joubal Lagoons Phase 2 Launched & Sold Out

Project Description: Directly overlooking the lagoon and golf course, adding more features to the Joubal project units.

Key Facts Product 1 Product 2 Location El Gouna, Egypt Type Twin Villas Type Villas Launch Date September 2015 No of units 26 No of units 5 2 Total Project Area (m ) 52,000 Total BuA (sqm) 4,342 Total BuA (sqm) 1,715 Footprint (m2) 3,073 Inventory value, USD 13,520,000 Inventory value, USD 4,400,000 Final Delivery September 2017

32 Sabina –Twin Villas Launched & Sold Out

Project Description: Inspired from Nubian like design with a new modern edge, using earth colors , designed to give residents the luxury of space and privacy of their own pools and gardens.

Key Facts Location El Gouna, Egypt Launch Date September 2015 Product Type Twin Villas Total Project Area (sqm) 33,454 Footprint (sqm) 2,715 Total BUA (sqm) 4,704 No of units 30 Inventory value, USD 12,600,000 Final Delivery September 2018 33 Water Side Condos Launched Project Description: Apartment Blocks, targeting Egyptian young families, offering affordability , function-ability & exclusivity, overlooking a unique water feature.

Key Facts Location El Gouna, Egypt Launch Date December 2015 Product type Apartments Total Project Area (sqm) 45,643 Footprint (sqm) 5,897 Total BUA (sqm) 16,876 No of units 145 Inventory value, USD 32,698,083 Final Delivery December 2019 34 Fanadir Bay Launched & Sold Out

Project Description: Fanadir Bay brings intelligently designed waterfront units to one of its most exclusive neighborhoods yet with its vast spaces and unique architecture, nothing stands against its originality.

Key Facts Location El Gouna, Egypt Launch Date April 2016 Product Type Villas and Twin Houses Total Project Area (sqm) 224,300 Footprint (sqm) 8,728 Total BUA (sqm) 17,144 No of units 85 Inventory value, USD 60,000,000 Final Delivery 2020 35 Fanadir Bay II Launched & Sold Out

Key Facts Location El Gouna, Egypt Launch Date April 2017 Product Type Villas Total BUA (sqm) 2,785 No of units 9 Inventory value, USD 10,600,000 Final Delivery 2019

36 Tawila Launched & Sold Out

Project Description: Tawlia is comprised of five residential islands connected to one another by six El Gouna signature bridges. The glittering star of Tawila is its 18 acre seawater lake.

Key Facts Location El Gouna, Egypt Launch Date October 2016 Product Type Villas and Town Houses Total Project Area (sqm) 18,117 Footprint (sqm) 6,521 Total BUA (sqm) 8,797 No of units 60 (32 Town Houses and 28 Villas) Inventory value, USD 21,650,567 37 Abu Tig Hill Newly Launched & Sold Out

Project Description: Surrounded by turquoise views, a sense of freedom and space invitingly opens before you Nestled between El Gouna’s two famed marinas, and positioned on a graciously elevated hill, this peaceful haven presents opportunities for life redefined. Each luxurious residence possesses stunning views overlooking the shimmering Red Sea.

Key Facts Location El Gouna, Egypt Launch Date September 2017 Product Type Luxury Apartments Total Project Area (sqm) 21,700 Total BUA (sqm) 8,915 No of units 32 Inventory value, USD 22,000,000

38 Byoum Newly Launched

Project Description: Directly overlooking the spiritual lake of Qarun, plans are set to develop two luxury residential communities and a hotel.

Key Facts Location Fayoum, Egypt Launch Date Q2 2017 Total Project Area (m2) 3,935 m2 Footprint (m2) 1,910 m2 Final Delivery Q4 2025 Inventory Value, EGP 60,500,000 (USD 3,400,000)

39 Hotels Portfolio El Gouna - Hotels Map

41 ***** ***** 12 Rooms 420 Rooms ***** 86 Rooms

A luxury guesthouse directly set on the An upscale beachfront resort offering a A family-oriented hotel featuring colorful northern shores of Mangroovy Beach relaxing atmosphere combined with a hillside accommodations reminiscent of and its kitesurfing stations. A lavish selection of on-ground facilities Tuscan homes, select villas spread around a brainchild of an antiques collector, the from diving to kitesurfing, world swimming lagoon, as well as deluxe hotel offers seclusion making it an renowned Angsana Spa outlet and a seafront rooms benefiting from prime views ideal hideaway for luxury seekers. nearby professional 18-hole golf course. over the hotel’s sheltered bay. Hotel guests have exclusive access to the private Bellevue Beach

***** ***** **** 339 Rooms 268 Rooms 20 Rooms

An award winning architectural mix of A stylish Nubian oasis exclusively An absolute romantic holiday or a blend of Arabian and Egyptian styles by the situated on El Gouna’s Championship 18- romance and action, this 4-star hotel de charm internationally renowned Michael Graves. hole golf course. Complemented by is the spot. Boasting he most relaxing views of The beachfront resort is built on nine stunning architecture, breathtaking the New Abu Tig Marina coupled with some islands surrounded by gardens offering landscapes, sparkling lagoons, the hotel special treats for an unforgettable romantic mouthwatering cuisine, private beaches, is home to a spa and fitness center for holiday, the Adults Only hotel is minutes away outdoor heated pool, and water sports. ultimate serenity and rejuvenation. from El Gouna’s northern beaches.

42 **** **** **** 239 Rooms 69 Rooms 155 Rooms

Overlooking the New Abu Tig Marina A beachfront resort with an all inclusive The Three Corners Ocean View offers a 4- with direct access to El Gouna’s program. The 4-star hotel is built along a star all inclusive experience in an Adults- northern beaches, Mosaique Hotel is virgin beach expanse of a protected bay. Only environment. The hotel is home to ideal for sun and adventure seekers. Club-style animation and a myriad of two unique clusters, Le Soleil and Du Port, The ultra four-star hotel boasts cool sports activities make it a perfect choice each offering a unique atmosphere with décor, modern flair and amenities for active families. one overlooking the seafront and the other tailored to the convenience of its with fabulous Marina views0 guests.

**** **** 115 Rooms **** 434 Rooms 66 Rooms

The 4-star all inclusive resort managed Capturing the essence of Egypt with its A charming Adults Only authentic hotel by a family-owned Belgian hotel chain. winding alleys and stunning features, the fashioned to reminiscent an Upper Egypt’s Offering unparalleled Red Sea holidays hotel overlooks El Gouna’s lagoons and Mayor’s mansion in its most romantic setup. for families with children, the resorts’ offers a tropical garden setting in the The hotel is complemented by superb interior unique architectural design is heart of the town with easy access to the design, a private lagoon beach and is adjacent complemented by lush landscaped vibrant Tamr Henna Square. to El Gouna’s lively Downtown area. gardens.

43 *** *** *** 67 Rooms 50 Rooms 28 Rooms

Directly overlooking the Abu Tig Marina In the heart of the Abu Tig Marina with With only 28 guestrooms in the beautiful promenade, minutes away from the beach, the most luxurious views and the most Abu Tig Marina, Turtle’s Inn is one of El the 3-star Captain’s Inn is one of El Gouna’s convenient accessibility! Famed for its Gouna’s most sought-after addresses. This most sought after small hotels welcoming terrace, Ali Pasha’s nightly beauty is modern hotel offers tastefully furnished divers, kite surfers, and partygoers. complemented by the delicacies served rooms, refreshing style, and personalized at the town’s only Indian Restaurant, service. Tandoor.

***** 153 Rooms

Over 80 operating apartment suites offering guests a relaxed alternative to more traditional styles of hotel accommodation. Additionally, a further 56 Deluxe hotel Rooms will open in April 2016. The currently open segment of the wider project is located in the Ancient Sands Hilltop Village.

44 Taba Heights- Hotels Map

45 ***** ***** **** 503 Rooms 394 Rooms 426 Rooms

Beautifully framed by the pristine natural Consisting of three separate structures linked The beachfront resort is situated on over 44 acres environment, award winning architect Michael by tropical garden pathways and resting on a of lush gardens, 2800 sqm of pools and waterfalls Graves created the beachfront resort as a paint box prime waterfront location, the resort offers with over 500sqm of pristine private beach and of colors and quirky shapes of Egyptian vaults and breathtaking views of the sea, pool and desert houses seven exclusive dining outlets, a private dome village styled architecture. Home to 3 mountains. The hotel offers 10 restaurants and Spa, a Steam Room, Swedish Sauna treatments swimming pools and a saltwater lagoon with its bars, exclusive entertainment and with its and Jacuzzi. own beach, eight restaurants, a wide array of state-of-the-art conference facilities, the hotel leisure facilities, the town’s only Casino. is the perfect business retreat. Swimming pools and a fully equipped health club.

***** **** ***** 385 Rooms 215 Rooms 442 Rooms

A signature Club Med Resort in the heart of The 4-star all inclusive resort managed by a family- With majestic mountains on the one side and Sinai. Providing exceptional opportunities to owned Belgian hotel chain. Offering unparalleled the amazing Red Sea on the other, El Wekala discover the region’s famous attractions, the Red Sea holidays for families with children, the Resort offers a sublime point of view on the unique Resort is set on a beautifully preserved resorts’ unique architectural design is complemented surroundings. You will always have the azure bay covering 27 hectares, flanked by a 600 by lush landscaped gardens. blue of the sea in front of you and the soft grey yard stretch of private beach offering an ideal of the mountains in the background on the other site for exploring the fabulous underwater life side of the Gulf of Aqaba. of the Red Sea.

46 Located at Makadi bay, one of Hurghada’s fascinating shores, 25 km away from Hurghada International airport, the All Inclusive beachfront resort overlooks its ***** own spacious private sandy beach, offering 491 Rooms seven restaurants & bars, a fully equipped watersports center, two tennis courts, a squash court, billiards, a fully equipped fitness room and 2 swimming pools.

Only 25 km away from Hurghada International airport, the beachfront resort is easily accessible offering seven Makadi is settled in the heart of the Red Sea tourism hub located only 25 restaurants & bars, a fully equipped kilometers away from Hurghada International Airport and just a short drive watersports center, two tennis courts, a **** from the bustling shopping and dining venues of Hurghada and Sahl squash court, billiards, a fully equipped 339 Rooms Hasheesh. Featuring a variety of residential units, hotels, commercial and fitness room and 2 swimming pools entertainment areas, as well as all the supporting infrastructure and services, Makadi allows individuals and families to benefit from a more active lifestyle.

Ideally located only a few kilometers away from Hurghada, Sahl Hasheesh and Safaga; the Adults Only Azur Makadi Gardens Hotel provides easy access to most of the Red Sea’s world-class **** waterfront destinations with clustered 287 Rooms facilities with its sister hotels Royal Azur and Club Azur.

47 **** 50 Rooms

A beautiful and peaceful hotel where all rooms and suites face Qarun Lake by design, with its rugged mountain-scape and pristine waters, lush greeneries and exotic birds passing by the terraces. Hotel rooms range from Superior rooms, Suites and large 2 bedrooms Grand Suites. Meals consist of Oriental culinary delights light foods and snacks served at the Main restaurant As Sa’aya and the pool bar. Our seamless blend of country-house character and contemporary four star luxury will make you feel completely at home - whether having tea in the lobby bar, relaxing by the pool or On the tranquil side of Qarun lake in Fayoum – the oldest city in Egypt, the new Byoum enjoying a fresh juice on the terrace. Lakeside Hotel is opening in September 2016. A fertile depression in Egypt's Western Desert, some 120 kilometers southwest of Cairo, Fayoum is both rich in history and outstanding in natural beauty. Byoum is the ideal gateway resort for families wanting to relax by the swimming pool, discover some of it's many national parks or visit Fayoum city and its famous watermills. www.byoum-alfayoum.com

48 Board of Directors

▪ For more than 20 years she has served in the Egyptian Governmental sector, ▪ Mr. Ryan is a pioneer and visionary in luxury resort and residential development. amongst others as Deputy Minister of Finance & Head of the Budgeting With more than twenty years of experience. Dr. Manal Committee from 2004 to 2013, & as Deputy Minister of Trade from 2003 to 2004 ▪ Mr. Ryan is based, through his company Silverfin Development in Grand Cayman, Hussein and advisor to the Minister of Economy from 1997 to 2001. Mike Ryan & has been involved in projects from Canada to Costa Rica, London to Vietnam. ▪ Chairwomen, She has been appointed by Presidential Decree as member of the Shura Non- ▪ He is prominently known in Cayman for his charity work having, for the past ten Non- Consultative Council from 2004 to 2011. She has also been appointed chairman of Executive years, been the main benefactor of the Cayman Islands Crisis Centre, raising funds Executive e-finance, the Egyptian market leader in the field of electronic payment solutions, Member for this charity through the now famous annual Legends Tennis Charity Event. Member & has served on the board of companies with interests in banking, aviation, ▪ He was Chairman of the Cayman Islands National Investment Council, & has been tourism, transport & telecommunication. on the boards of the Private Finance Initiative Oversight Committee, the Cayman ▪ She holds a B.Sc. in Mass Communication with honors from Cairo University and Islands Investment Council & the Planning Review Committee an MA in Public Administration from the American University in Cairo. In 2008, she received a PhD in Public Administration, with highest honors, from the Faculty ▪ Mr. Badr currently holds the position of Regional Managing Director of of Economics and Political Science, Cairo University. Abercrombie & Kent for Egypt and the Middle East. Mr. Badr also oversees A&K’s operations in Morocco, Jordan, and Libya. Amr Badr Samih O. ▪ Mr. Sawiris founded his first company, National Marine Boat Factory in 1980, ▪ In 2013, he was appointed as a Board member on the Egypt – U.S. Business Non- Sawiris established Orascom Projects for Touristic Development and Orascom Hotel council and also on the Board of the Egyptian National Tourism Association. Executive Chairman of Holding in 1997. The two companies later merged to form Orascom Hotels and ▪ He also serves as an advisor to the Chairman & CEO of Carbon Holding Member ODH, Development S.A.E. International, the largest fertilizer and petrochemical company in the region. Non- ▪ Furthermore, he established El Gouna Beverages Co. in 1997, which he sold in ▪ He also serves on the Board of Directors of People to People International and Executive 2001 when it was the largest beverage company in Egypt serves on the Advisory Board of the United States Center for Citizen Diplomacy. Member ▪ Diploma in economic engineering from the Technical University of Berlin ▪ Mr. Bichara previously served as Group President and Chief Operating Officer of ▪ Mr. Zazou is an Egyptian businessman and politician who has been serving as the Hisham VimpelCom. He was also Chief Executive Officer of Orascom Telecom Holding, Egyptian Minister of Tourism from 2012 till 2015. Zazou Chief Operating Officer of Wind Telecomunicazioni and Co-founder, Chairman ▪ Zazou began his career in the City Bank Group for five years in Cairo. Non- and CEO of “LINKdotNET” ▪ Establish a tourist agency in the US focusing on the Egyptian market and began to ▪ Mr. Bichara currently serves as a board member of various telecom and IT Executive Khaled work in the tourism field. companies, including Orascom Telecom Media and Technology Holding, Member Bichara ▪ From 2004 to 2007, Zazou served as the chair of the Egyptian Tourism Federation. SUPERNAP International, and Joyent CEO of ODE ▪ He is the chairman of the board of Italiaonline, as well as the chairman of the & ODH board of SEAT Pagine Gialle. He is also a board member of Orascom Construction Limited ▪ Mr. Bichara holds a BSc degree from the American University in Cairo & is also a member of the Advisory Board for its Computer Science & Engineering Department ▪ Eng. Nessim has more than 20 years of experience in various fields including Ashraf finance, infrastructure and hospitality Nessim ▪ Prior to joining the group he was the Chief Financial Officer representing Beltone CFO of ODE Private Equity in their Pick Albatros Investment & ODH, ▪ From 2007 to 2010 he was the Group Chief Financial Officer of Mobiserve and Non- before that, he established the operation of Raya Distribution in Algeria and Executive managed merchandising activities in all 34 shops of Nokia and Samsung in Egypt Member ▪ Mr. Nessim holds a Bachelor degree in Mechanical Engineering

49 El Gouna - Egypt

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