Earnings Presentation Template

Orascom Development Holding AG

October 2015 Agenda

ODH: Leading Developer of Fully Integrated Towns Page 4

Projects Overview Page 11

Performance, Strategy and The Opportunity Page 22

Operational and Financial Summary Page 34

Page 17 Appendices Page 46

2 ODH : Leading Developer of Fully Integrated Towns

3 History- How it all started

Over 20 years ago, Orascom Development’s founder Samih O. Sawiris had a simple idea – to create a little piece of paradise on the exquisitely desolate Red Sea coast. This initial thought evolved over the years and became our principle.

ODH sells 15% The Cove in Ras Al Project announcement New projects in Samih O. Sawiris becomes stake in OHD to Development Khaimah (U.A.E.) the of Haram City (Egypt), Cornwall (UK) & Luštica majority shareholder of ASA; reactivate its of Taba first destination Jebel Sifah & Salalah Bay (Montenegro) & sale of Romania project to trading, Heights on the outside of Egypt, a Beach (Oman); signing launch of Makadi Bay, Samih O. Sawiris & Orascom resumption of Year of Gulf of Aqaba lease agreement of agreements for 28 km away from Hotel Management (OHM) trading Foundation (Sinai with the Gov. to Andermatt (CH) & Hurghada was established to manage effective 6th Peninsula) develop Amoun Chbika (Morocco) the Group’s Hotel inventory January 2015 & Island, 22,000 m2 Sale of Tala Bay hotel in Jordan

1989 1997 2005 2007 2009 2013 2015

1991 1998 2006 2008 2010 2014

Agreement to Established ODH, Initiation of affordable Orascom signs First phase of participate in the acquired 99.7% of OHD housing project in Deconsolidation of Orascom development El Gouna flagship development of through a tender offer Constanta (Romania) & Housing Communities agreements with project becomes Tala Bay, Jordan Headquarter is moved Allocated 0.8 million m2 in (OHC)& its subsidiaries; the Omani operational & Awarded 1.2 to Altdorf (CH), listing the Qena Governorate , the budget housing and Government for million sqm in on the SIX Swiss second budget housing construction & Sale of four projects Fayoum, Egypt Exchange project in Egypt CMAR (Mauritius Club Med)

EGYPT INTERNATIONAL EXPANSION

So far, we have successfully implemented this concept in Egypt, Jordan, UAE, Oman, Switzerland and in other projects under development in Europe

4 Orascom Development Holding AG Today

The Only Leading Developer of Fully One of The Largest Land One of The Largest Hotels Integrated Towns Banks Portfolio Including Real Estate, Hotels. activities, marinas 100.2 million sqm, out of which 68.4 31 hotels, 21 self-managed and 10 Under Leisure, golf courses, hospitals , schools & all million sqm is still undeveloped Management supporting infrastructure Loyal Shareholder Spearheaded by a seasoned Executive Base Management Team Been with the company for over 6 years with unparalleled expertise in the travel , tourism and real estate sector level Over 25 79% MORE THAN Of our hotels in Egypt are certified 3 to 5 49 YEARS with Green Star Star Hotels Awards DEVELOPMENT During 2014 for our To suit different EXPERIENCE Operating Destinations standards hotels in Egypt, Jordan 9 & Oman El Gouna, Taba Heights, Makadi, & Haram City (Egypt) , Jebel Sifah & Salah Continuous Progress on Strategy Fully Integrated Town Beach (Oman), The Cove (UAE), Execution Developers Andermatt (Switzerland) & Lustica Bay Achieved all communicated targets of 2014 Integrated destinations, offering (Montenegro) hotels, residential units and luxury leisure Other destinations in different stages of development Dual listing on SIX and EGX Approx. 9,380 with 28,543,147 outstanding shares Employees Real Estate Sales of CHF 1.96 Bn Since 1997

5 ODH’s Projects at a Glance

Land Bank (mn sqm) Hospitality Portfolio

Under Under ODH Blended Rooms Operated by Hotel Blended Total Land Bank Completed Undeveloped Number of Rooms Construction2 Development3 Ownership % ODH Ownership %

El Gouna El Gouna El Gouna El Gouna 39.92 El Gouna 8.96 El Gouna El Gouna 5.48 1.2 21.28 84.7% 2,7072,706 1,513 73%

Taba Heights Taba Heights Taba Heights Taba Heights 4.27 Taba Heights 2.56 0.0 0.02 1.69 83.8% Taba Heights 2,365 Taba Heights 1,538 63%

Makadi Makadi Makadi 3.39 Makadi 4 Makadi 0.47 0.0018 63.1% Makadi 4 Makadi 53% - 2.92 1,6541,144 1,113

Haram City Haram City Haram City 2.6 Haram City 1.93 0.17 0.32 Haram City 0.18 35.25% Haram City Haram City - Egypt

Fayoum Fayoum 1.08 Fayoum Fayoum 56.95% Fayoum 0.25 0.07 0.08 Fayoum 0.69 Fayoum -

Chbika

Qena… Qena Gardens - 0.8 Qena Gardens Qena Gardens 35.25% Qena Gardens Qena Gardens -0.0 - Qena Gardens 0.8 - - 5.0 10.0 15.0 20.0 25.0 30.0 35.0 40.0

-- 0.2 0.5 0.4 0.6 1.0 0.8 1.5 1.0 2.0 2.5 3.0 3.5 4.0 - 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 10.0 - 0.5 1.0 0 100 200 300 400 500 600 700 (1.0) 4.0 9.0 14.0 19.0 24.0 0 500 1,000 1,500 2,000 2,500 3,000 1

Salalah Beach 70% Salalah Beach Salalah Beach Salalah Beach Salalah Beach Salalah Beach 13.6 0.9 Salalah Beach 0.2 1.5 11.0 70% 482 82 1

Jebel Sifah Jebel Sifah Jebel Sifah Jebel Sifah Jebel Sifah Jebel Sifah 6.2 0.2 Jebel Sifah - 1.5 4.5 70% 79 79 70% 1

As Sodah Island As Sodah Island As Sodah Island As Sodah Island As Sodah Island Oman As Sodah… 1.0 - As Sodah Island - 0.8 0.2 50% - - 1

City Walk City Walk City Walk City Walk City Walk City Walk 0.1 - City Walk - - 0.1 70% - -

- 0.5 1.0 - 5.0 10.0 15.0 20.0 - 0.5 1.0 1.5 2.0 - 5.0 10.0 15.0 0 200 400 600 0 50 100 - 0.5

Chbika Chbika Chbika Chbika Chbika Chbika 15.0 - Chbika - 3.0 12.0 55% - - Morocco

- 5.0 10.0 15.0 20.0 - 0.5 1.0 1.5 2.0 2.5 3.0 3.5 - 5.0 10.0 15.0 0 0 0 1 1 1 0 0.2 0.4 0.6 0.8 1 0.0 0.2 0.4 0.6 0.8 1.0 - 0.2 0.4 0.6 0.8 1.0 1 Luš tica Luštica 6.9 Luštica 0.02 0.1 Luštica 0.3 Luštica 6.48 90.91% Luštica - Luštica - Montenegro

- 2.0 4.0 6.0 8.0

- 0.5 - 5.0 10.0 0 0 0 1 1 1 0 0.2 0.4 0.6 0.8 1 1 0.0 0.2 0.4 0.6 0.8 1.0 - 0.1 0.1 0.2

Andermatt Andermatt Andermatt Andermatt 1.5 Andermatt 1.3 Andermatt - 0.1 0.1 49% Andermatt 105 - 49% Switzerland

0.0 5.0 0.0 0.2 0.0 0.5 0 0.2 0.4 0.6 0.8 1 5 - 1.0 2.0 - 0.2 0.4 0.6 0.8 1.0 0 100 200 Eco-Bos Luštica Andermatt Andermatt Eco-Bos 75% Eco-Bos 6.54 - - Eco-Bos - 6.54 - -

UK - 5.0 10.0 0.0 0.2 0.4 0.6 0.8 1.0 - 5.0 10.0 0 0 0 1 1 1 0 0.2 0.4 0.6 0.8 1 - 0.2 0.4 0.6 0.8 1.0 0.0 0.2 0.4 0.6 0.8 1.0

1 The Cove Marina Plaza 73% The Cove The Cove 73% The Cove 0.3 The Cove 0.3 The Cove - - - 346 - UAE

0.0 0.2 0.4 0.6 0.8 1.0 0.0 0.2 0.4 0.6 0.8 1.0 0 200 400 0 0.2 0.4 0.6 0.8 1 0.0 1.0 2.0 3.0 4.0 0.0 0.5 1.0 0.0 0.2 0.4 0.6 0.8 1.0

100.22 16.89 6.02 8.82 68.49 7,632 4,325

1 Leasehold agreement 2 Any plot of land where infrastructure is completed and individual elements of the projects are under construction 3 Any plot of land where infrastructure is under construction but not yet completed 4 283 rooms are located in Makadi Project, while the 1,344 rooms are located within the Makadi Bay and 27 of Oberoi Zahra is a floating hotel on the Nile) 5 American call option (ending 2030) granting ODH the right to purchase part or all of the land plot. The company has donated 0.06 sqm of total land to the Cornwell council in 2014 to build 6 a road The Company Adopts a Unique, Vertically Integrated, Business Model Centered on Transforming Desolate Pieces of Land into Attractive, Self-sufficient, Resort Towns

Operational Support Development Phase . ODH’s business model Phase Functions incorporates owning and managing the whole value chain from the raw land acquisition to developing & Land Bank Monetization operating real estate, hotels, and managing the destination: – Securing land at nominal Real Estate Real Estate Owner costs Services – Control of entire value chain from master New planning and destination construction to operation identification Hotel Development Hotel Operations of a destination acquisition & – Continuous pre-sales to initial concept

finance ongoing Support Processes

investments Destination Management Processes Destination Development Operations . In parallel, management has recently adopted the new strategic notion of selling large plots of land to third Controlled Sale of Large Plots of Land to party developers, in a move Master-development Third Party to accelerate the Developers monetization of land (Master- development), while providing strict development guidelines, to ensure control over the development and maintain the architectural harmony of the destination

7 Business segments- Overview

Land Sales & Other Hotels Real Estate Destination Management Investments

. 31 Hotels , total of 7,632 . Land bank acquired at nominal . Public services &infrastructure . Andermatt (Switzerland) costs maintaenance that includes: rooms . Sale of middle-to-upper scale . Tamweel; Financial Services . 21 self managed, 10 under- apartments and villas to private . Water Services Company clients . Master Development (ODM. management . Sewage treatments Egypt) . Orascom Hotels Management . In-house sales force as well as international distribution . Electricty . 820 retail outlets & 87 (OHM) manages company’s channels restaurants/bars hotel inventory . Off-plan sales with customer . 1,955 employees prepayments . 5 schools & universities . 5,200 employees . Sales of CHF 1.97 Bn 1 . 2 hospitals & 7 marinas, 4 golf

. 108 employees . 1,216 employees 2

Revenues 1H 2015 Revenues 1H 2015 Revenues 1H 2015 Revenues 1H 2015 CHF 58.5 mn CHF 41.1 mn CHF 6.8 mn CHF 58.1 mn 3

1 From 1997-1H 2015 (gross number) 2 Including all company support funcitions in Egypt, Oman, Morocco and Montenegro 3 Land Revenues of CHF 42.6 mn 8 Agenda

ODH: Leading Developer of Fully Integrated Towns Page 4

Projects Overview Page 11

Performance, Strategy and The Opportunity Page 22

Operational and Financial Summary Page 34

Page 17 Appendices Page 28

9 Projects Overview

10 El Gouna - OHD’s Flagship Project , World Class Destination on the Egyptian Red Sea Coast

El Gouna . Total land area : 36.92 million sqm , Developed: 14.44 million sqm, (39.2% developed) Key Facts . Number of hotels and rooms: 16 hotels with 2,706 rooms ( four 5 *s , eight 4 *s and three 3*s) . A private , self-sufficient town of over 25,000 permanent residents 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 two universities branches

Hotel KPIs, CHF Real Estate KPIs

211 47 61 82 121 150 100 74% 80% 100 4.0 65% 70% 3.4 80 56% 61% 59% 54% 60% 80 2.8 2.5 2.5 2.5 3.0 2.3 60 91 50% 60 40% 2.0 40 83.5 60.3 40 53 59 30% 69 48.7 1.0 51 54 52 52 20% 20 20 47 48 47 49 24.8 19.4 34.9 10% 0 0.0 0 0% 2010 2011 2012 2013 2014 1H 2015 2010 2011 2012 2013 2014 1H2015 Value of Contracted Units, CHFmn No of Units ARR TRevPar Occ. Rate Average Price/sqm, CHF 000’s

El Gouna Draws Most of its Clientele from Europe... Destination Update during 1H 2015 + Other significant events post the results Visitors Breakdown by Nationality . Increasing sales through diversifying the product mix, timely Global Human 120% Settlements Egypt offering of serval products to serve different clientele Award 100% . 19% 20% Germany Launched Joubal & Joubal Lagoon; new real estate 29% 29% 22% 80% 48% 40% residence/neighborhood projects, both sold out. 17% 19% Others 60% 16% 19% . Finalizing the construction of Ancient Sands hotel in El Gouna, 38% UK 29% 18% 32% 13% to launch in Dec 2015 40% 27% 28% Belgium Global Green 12% 25% 28% 25% . Launched ElGouna-FTI new joint-marketing campaign Town – El Gouna 8% 9% 6% 20% 10% 9% France 10% 9% 6% 5% 6% . In Sep Advanced signed a new sub-development agreement 7% 4% 6% 2014 0% Russia over 100,000 m2 for USD 20 million 2009 2010 2011 2012 2013 2014 1H 2015

* Others include: Polish, Dutch, Italians and Scandinavians 11 Taba Heights – Sinai’s Premium Destination

Taba . Total land area : 4.27 million sqm, Developed: 2.56 million sqm, (60% developed) Heights . Number of hotels and rooms: 6 hotels; 2,365 rooms (five 5* s and one 4 *s) Key Facts . Taba Heights is situated between the mountain ranges of the Sinai Peninsula only 25km 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, CHF

80 74% 80% 70% 51% 60 44% 60% 41% 50% 69 40 40% 50 52 29% 48 30% 53 20 46 44 42 17% 20% 37 28 18 16 10% 0 0% 2010 2011 2012 2013 2014 1H2015 ARR TRevPar Occ. Rate Taba Heights Draws Most of its Clientele from Europe... Destination Update during 1H 2015 Visitors Breakdown by Nationality 120% . Travel bans and strict warnings on Sinai continued to impact hotel operations . UK . During the 1H 2015, Taba operated at 50% of its capacity. 3 hotels were shut 100% 10% Others 18% down. 30% 24% 27% 29% 80% 27% 41% Israel 21% 24% 60% 23% 15% France 25% 8% 10% 10% 11% 21% Egypt 40% 20% 24% 25% 14% 18% 17% Belgium 10% 6% 5% 11% 8% 9% 20% 8% 7% 11% 12% 6% 18% Russia 7% 10% 12% 7% 18% 5% 10% 0% 5% Germany 2009 2010 2011 2012 2013 2014 1H 2015 * Others include: Polish, Jordanians Scandinavians and Italians 12 Makadi - The First Gated Community In The Heart Of Hurghada Real Estate KPIs . Total land area : 3.39 million sqm, Developed: 0.47 million sqm , (15% developed) 1,752 96 54 52 57 16 Makadi . Number of hotels and rooms: One 4* hotel with 283 rooms + two 4 * & 5 * Azur 80 660 584 646 Key Facts Hotels in Makadi with a total of 830 rooms (Royal Azur, a 5 star Hotel (491 rooms) & 621 640 60 Club Azur, a 4 star Hotel (339 rooms) 620 591 595 599 40 600 . Makadi is the first gated community in the Hurghada region, only 30km away from 63.7 580 Hurghada International Airport 20 3.9 2.3 2.2 3.0 0.8 560 . The town resort features residential units and hotels, along with spacious commercial 0 540 area, a medical center, a school, among other services 2010 2011 2012 2013 2014 1H 2015 Value of Contracted Units, CHFmn No of units Average Price/sqm , CHF Reviving the Destination Hotel KPIs, CHF 80 84% 100% . Signed two new contracts in Makadi destination with an external developer (Tara Egypt), to manage the destination’s existing retail outlets and build its club house facility (for CHF 1.9 mn) 80% 60 63% 61% 64% 55% 51% . Granting Tara Egypt exclusive management of the destination’s existing retail outlets, list of 60% 40 74 potential rentals include: (Drinkies, Ocean Super market, Gelato, Five hear (Italian Bistro) etc..) 40% 48 . 20 36 40 40 38 39 39 Finalizing an agreement with an external developer and a reputable school to manage the 34 30 33 28 20% destination school and offer a national and international system 0 0% 2010 2011 2012 2013 2014 1H 2015 ARR TRevPar Occ. Rate Visitors Breakdown by Nationality

120% Russia 100% Egypt 80% 37% 56% 55% 53% 57% 57% 57% Germany 60% 11% France 40% 12% 12% 14% 12% 17% 15% 32% 11% 12% 11% Others 20% 13% 6% 16% 9% 12% 14% 12% 15% 17% 0% 9% Belguim 2009 2010 2011 2012 2013 2014 1H UK 2015 * Others include: Polish, Italians, Scandinavians and Swiss

13 Byoum – The Heart of Fayoum, On Lake Qarun

. Total land area : 1.08 million sqm, Developed: 0.4 million sqm , (36% developed) Byoum . Number of hotels and rooms: One 4* hotel with 62 rooms (20 hotel rooms and & 42 hotel Key Facts apartments, expected to be launched in Q1 2016 . 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 . Sales started in 2008, till today we have sold 154 units with a total value of CHF 33million

Master Plan Reviving the Destination

1. Byoum Main Gate 5. Beach Club . Finalizing the construction of Byoum Hotel, to be launched during 1Q 2016 2. 4 Star Hotel 6. Marina 3. Hunting Lodge 7. Commercial Area 4. Pier

14 The Cove – A Highly Rated 5-Star Beachfront Getaway for Leisure and Relaxation

. Total land area : 0.3 million sqm Taba Heights . The resort encompasses: Key Facts − A 346 room five star hotel managed by Rotana, an acclaimed operator in MENA and worldwide − 188 villas − An employee residential compound comprised of 78 apartments; − A commercial center; and − A ~12,225 sqm vacant land plot, which is well positioned for various development options

. ODH’s Management intends on converting the employee housing compound into an apartment hotel, which will serve as an extension, adding 78 keys (~155 rooms) to the hotel’s capacity

Hotel KPIs, CHF 81% 75% 200 63% 77% 81% 70% 90% 80% 150 70% 60% 50% 100 215 217 203 188 182 192 40% 169 161 160 161 157 139 30% 50 20% 10% 0 0% 2010 2011 2012 2013 2014 1H 2015 ARR TRevPar Occ. Rate

Visitor's Breakdown by Nationality as of 1H 2015 Destination Update until the 1H 2015

• Awarded the Luxury Coastal Resort Continent Winner-2014 World Luxury Hotel 14% 3% United Arab Emirates Awards 30% • 5% Germany Awarded the RTK Hotel Award 2014 as one of the Top 100 Hotels for RTK Travel Switzerland Agents in Germany • Finalizing the construction of 145 new rooms to be added to the hotel’s Austria inventory and expected to be launched by December 2015 48% Others

* Others include: Russian, British Swedish and French

15 Jebel Sifah- A Tranquil Haven

Jebel . Total land area: 6.2 million sqm , Developed: 0.2 million sqm, (3.2% developed) Sifah . 6 hotels (1,062 rooms), of which the Sifawy Boutique Hotel is already operational, with a capacity of Key Facts 79 rooms. Four Seasons , Banyan Tree Hotels & Resorts & Anatara, among other players, are expected to operate hotels in Jebel Sifah . Located between the marine life rich Indian Ocean and the breathtaking Hajjar Mountains (the highest in the Arabian Gulf), Jebel Sifah is a charming resort town located 30km from the Omani Capital’s city center . The town will encompass 950 residential units, including already 18 completed apt blocks, Inland marina, a 18-hole championship golf courses designed by Peter Harradine, commercial centers Hotel KPIs, CHF Real Estate KPIs

33% 15 15 12 5 5 150 31% 32% 35% 12 3.0 27% 30% 2.5 25% 10 2.5 2.4 2.9 2.2 2.5 25% 10.5 100 8 2.0 20% 6 1.5 136 15% 116 119 50 106 111 82 4 7.4 1.0 76 10% 5.7 2 0.5 52 81 88 5% 3.6 4.0 0 0% 0 0.0 2011 2012 2013 2014 1H2015 2011 2012 2013 2014 1H 2015 Value of Contracted Units, CHFmn ARR TRevPar Occ. Rate No of Units Average Price/sqm, CHF 000’s

Visitors Breakdown by Nationality as of 1H 2015 Destination Update during 1H 2015 . Opened the floating fuel station on the marina Oman . Progressing with the Golf Course construction, completed its design and 20% Germany rough shaping & finalized 5 holes out of the first 9 holes

4% Switzerland . Infrastructure completed in the main resort boulevard and different villa zones including water plumping, electrical linkage and landscape 6% 52% France . Opened “Extra Divers” dive center 8% United Kingdom 10% Others

* Others include: Italian, Belgium, American and Austrian

16 Salalah Beach – A Self-sufficient Tropical Oasis on the Arabian Sea

Salalah . Total land area: 13.6 million sqm , Developed: 1.1 million sqm, (8.1% developed) Beach . 7 hotels (1,800 rooms), of which the Juweira Boutique Hotel and Rotana are already operational, Key Facts with 82 rooms and 4001, respectively. Mövenpick and Club Med are expected to open their doors, each operating ~395 rooms . The town will encompass, residential units, 200 berth marina; the Marina Town where 42 shops are already operating, commercial centers and a water park . The destination is located only 25km away from Salalah Airport and approximately 90 minutes flight from most GCC countries

Hotel KPIs, CHF Real Estate KPIs 47% 150 48% 60% 20 8 9 41 4 47% 50%12 5.0 39% 4.0 100 40%10 3.5 4.0 141 8 113 99 30% 2.2 2.4 3.0 128 95 6 2.0 50 20% 10.3 2.0 93 4 74 85 10% 5.9 3.7 1.0 2 3.7 0.9 0 0% 0 0.0 2012 2013 2014 1H2015 2011 2012 2013 2014 1H 2015 ARR TRevPar Occ. Rate Value of Contracted Units, CHFmn No of Units Average Price/sqm, CHF 000’s Visitors Break Down by Nationality Destination Update until 1H 2015

. Opened Rotana 5 star hotel with 400 rooms in Dec 2014 Germany . Finalizing the construction of El Fanar Hotel which includes 220 rooms 25% 32% Italy planning to launch in Dec 2015. Oman . Water Park is a new addition to the town which will serve real estate owners, 2% 2% Switzerland hotel guests and Salalah residents. . 15% United Arab Emirates The arrival of the first Italian charter to the destination in collaboration with Alpi Tour in Dec 2014 24% Others . Implemented the Sale and Leaseback system at Al Fanar Project with 45 off * Others include: Swedish, British, American and Austrian plan units

17 Lustica Bay – Montenegro

. Located in Montenegro on the Adriatic Sea, with a land bank of 6.9 mn sqm Lustica . The land is held on a leasehold agreement for 99 years starting 2009. The company starting 2014 Bay Key will pay an annual rent fee of EUR 1mn per year for a period of 10 years Facts . The project is planned to include 1,820 residential units, 7 hotels with a total capacity of 1,200 rooms and two world-class marinas with an operating capacity of 226 berths, 18-hole championship golf Course (Gary Player Signature Course), . Construction started in Sep 2013. In less than two years, Lustica is now an operating destination & an emerging new town with residents moving in their homes in the summer of 2015

Emerging New Town

. First two buildings clusters (10 buildings comprising 70 apartments) have been fully finished and delivered in August, with residents moving in the summer of 2015 . The foundation of the next two buildings & first Villa clusters have started, with planned completion dates in Q4 2016 and Q2 2017. . 80% of the main marina works have been completed, with an expected operating date of March 2017 . Excavation works for the Golf Course is completed and the construction permit has been obtained (the first Golf Course permit in Montenegro) . Design works for the first Marina Hotel is done, with an expected operating date of summer, 2017 for the first phase and the rest by summer, 2018

Real Estate KPIs

48 41 3 25 43 4.6 4.5 20 4.4 4.5 4.3 4.4 15 4.1 4.3 22.0 4.2 10 19.1 15.4 4.1 5 1.5 4.0 0 3.9 2012 2013 2014 1H 2015 Value of Contracted Units, CHFmn No of Units Average Price/sqm, CHF 000’s 18 Other Projects

Chbika1 . Located South of Agadir on the Atlantic Ocean, Chbika has a total land bank of 15mn sqm split into two phases with land areas of 5mn sqm and 10mn sqm, respectively Overview . Chbika’s plan encompasses mix of villas apartments and mansions, in addition to 3 hotels with a total capacity of 1,000 rooms . In 2014, negotiations started for raising the needed funds to develop the 3 hotels in addition to finishing the marina and the first 9 holes of the golf course Eco-Bos2 . Located in the UK, Eco-Bos is one of four projects to receive the ‘Eco-town’ accreditation . The project, comprising seven land parcels, includes the redevelopment of 700 hectares of former industrial land, developing 5,500 new homes and creating over 5,000 jobs Overview . Designed to deal with dispersed rural travel and deliver a highly sustainable transportation network . Low Carbon Communities, Building energy and resource efficient homes with computer-based technologies to efficiently manage energy and water resources Andermatt . Andermatt Swiss Alps is a first-rate holiday destination with a land bank of 1.5mn sqm offering broad activity and lifestyle pursuits . The project is planned to include 490 apartments, 25 exclusive villas, and 6 hotels with a capacity of 844 rooms and a ski arena Overview . In Dec 2013, ASA opened its first 150-room, 5-star deluxe hotel operated by The Chedi Andermatt . Mr. Samih Sawiris has become the new majority shareholder of ASA with a 51% share by converting his loans to the Group into ASA equity, ODH now is owns 49% and ASA is deconsolidated from the Group’s financials

1 ODH owns 3.0 mn sqm in Phase 1, and is currently in talks to acquire the remaining 2.0 mn sqm. Phase 2 is not owned by ODH, however, the government has expressed interest to allocated the land to the Company provided that it meets certain minimum building obligations 2 American call option (ending 2030) granting ODH the right to purchase part or all of the land plot

19 Agenda

ODH: Leading Developer of Fully Integrated Towns Page 4

Projects Overview Page 11

Performance, Strategy and The Opportunity Page 22

Operational and Financial Summary Page 34

Page 17 Appendices Page 46

20 Performance, Strategy and The Opportunity

21 Continued Progress on Strategy Execution; Focusing on Growing Core Business & Maximizing Efficiency

Cost Savings & Debt Reduction & Growing Core Business & Accelerating Land Focus on value-adding Maximizing Efficiency Restructuring Development and Monetization Investments

Reduced FY 2012 cost base by Reduce total debt by Real Estate Divesting Non Core CHF 50 mn at FY 2014 CHF 92.1 mn (EGP 700 mn) . Addressing marketing needs through: Assets . Developing more efficient units . Optimizing cost base in . ODH sold 15% stake in . Increasing inventory mix to address different . Red Sea Construction proportion to target OHD for CHF 64mln & market segment revenue levels successfully sold 12.5% of . Focusing on adding value added amenities . Orascom Housing CMAR for CHF 9.9mln, that add to the destination experience and Communities . Restructuring the proceeds will directly go to visitor spend organization making it servicing OHD’s debt . CMAR, Club Med Hotel leaner and more efficient . Adopting a sub-development model whereby in Mauritius through reducing unneeded . Rescheduled principal and land is developed by third parties under strict SG&A expenses interest payments for development guidelines, signed two deals to date Orascom Hotels and with total value of USD 80 million . Headcount reduced by Development approx. 4,000 FTE since year-end 2012 . Working on a club deal to Hotels pool short term debt into a . Established a fully owned hotel management . Divestiture of combined long term loan company, OHM underperforming assets with rescheduled principle . Revisited all hotel management agreements (construction & low income and interest payments to assess the cost-benefit case by case housing) . Developed a yield system to increase early booking and improve cash flow planning . Renegotiated procurement . Centralized key functions across destinations deals to reduce cost of and hotels goods sold in the hotels segment

Business Model Optimization and Organizational Development 22 ODH financial results back on track

Occupancy rate (%) Contracted sales (CHF mn)

100 81 76 400 336 62 56 57 300 51 51 44 51 173 213 50 200 136 115 66 88 70 100 0 0 2008 2009 2010 2011 2012 2013 2014 1H 2014 1H 2015 2008 2009 2010 2011 2012 2013 2014 1H 2015

Average room rate (CHF) Number of units sold

668 80 65 800 56 59 57 60 57 56 52 53 60 600 400 317 297 265 40 152 204 182 20 200 0 0 2008 2009 2010 2011 2012 2013 2014 1H 2014 1H 2015 2008 2009 2010 2011 2013 2014 1H 2015

TRevPAR (%) 1 Average selling price (CHF’000’/m2)

8 6.9 100 81 87 5.3 69 61 6 57 51 48 49 4.4 40 4 3.2 2.5 2.6 50 2.6 2.3 2 0 0 2008 2009 2010 2011 2012 2013 2014 1H 2014 1H 2015 2008 2009 2010 2011 2012 2013 2014 1H 2015

1 Total Revenue per available room * Revenues and KPIs of Citadel Azur, five –stars hotel with 513 rooms was added back to ODH’s hotel portfolio in FY14, post the settlement reached with Falcon Hotels

23 New & Ongoing Real Estate Launches

24 Egypt , El Gouna Joubal Projects 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.

Joubal Views Joubal Lagoons Joubal Golf

Key Facts Key Facts Key Facts Launch Date September 2015 Launch Date September 2015 Launch Date September 2015 Type Villas & Twin Villas Type Villas & Twin Villas Type Villas & Twin Villas Project Area (sqm) 19,400 Project Area (sqm) 52,00 Project Area (sqm) 23,000 Footprint (sqm) 1,304 Footprint (sqm) 3,073 Footprint (sqm) 2,449 Total BuA (sqm) 2,561 Total BuA (sqm) 6,057 Total BuA (sqm) 5,229 No of units 13 No of units 31 No of units 27 Inventory value, USD 7,350,000 Inventory value, USD 17,920,000 Inventory value, USD 13,830,000 Sales Plan 1 Years Sales Plan 1 Years Sales Plan 1 Years Final Delivery September 2018 Final Delivery September 2017 Final Delivery September 2018

25 Egypt , El Gouna Water Side Condos and Sabina Twin Villas

Water Side Condos Sabina Twin Villas Apartment Blocks, targeting Egyptian young families, offering Inspired from Nubian like design with a new modern edge, affordability , function-ability & exclusivity, overlooking using earth colors , designed to give residents the luxury of a unique water feature. space and privacy of their own pools and gardens.

Key Facts Key Facts Location El Gouna, Egypt Location El Gouna, Egypt Launch Date December 2015 Launch Date September 2015 Product type Apartments Product Type Twin Villas Total Project Area (sqm) 49,614 Total Project Area (sqm) 33,454 Footprint (sqm) 7,702 Footprint (sqm) 2,715 Total BUA (sqm) 20,900 Total BUA (sqm) 4,704 No of units 176 No of units 30 Inventory value 39,312,901 Inventory value, USD 12,600,000 Sales Plan 2 years Sales Plan 1 years Final Delivery December 2019 Final Delivery September 2018

26 Oman Salalah Beach

. Four Star Hotel, with 218 rooms & Suits . Designed by renowned Italian designer Sandro Serapioni, offers a unique blend of contemporary design and serene Arabian Al Fanar architecture. Hotel . Out of the 218 rooms, 70 are planned to be sold and leased back . To date, 45 out of those 70 rooms are sold with an average selling prices of USD 635 per m2

Ongoing RE Launched Projects since

Type Al Fanar Apartments Type Villa Total BuA (sqm) 2,090 Total BuA (sqm) 10,395 No of units 38 No of units 72 Inventory value, OMR 3,866,500 Inventory value, OMR 9,519,100 Avg Price/m2 (OMR) 1,850 Avg Price/m2 (OMR) 915

27 Oman Jebal Sifah

Key Facts Key Facts Type Villa Type Apartment Total BuA (sqm) 4,962 Total BuA (sqm) 3,216 No of units 46 No of units 19 Inventory value, OMR 4,572,200 Inventory value, OMR 3,859,200 Average Selling Price/m2 (OMR) 922 Average Selling Price/m2 (OMR) 1,200

Finalizing the construction of the 9 holes for the Planned 18 hole PGA golf Course designed by Peter Harradine

28 Montenegro Lustica Bay Ongoing RE Launched Projects since

Launch Date July 2013 Launch Date July 2013 Launch Date June 2014 Type Villa Type Apartment Type Apartment Project Area (sqm) 7,276 Project Area (sqm) 8,473 Project Area (sqm) 7,589 Total BuA (sqm) 2,840 Total BuA (sqm) 6,564 Total BuA (sqm) 7,609 No of units 4 No of units 45 No of units 43 Inventory value, EUR 9,200,000 Inventory value, EUR 17,157,915 Inventory value, USD 18,169,982 Sold to date (%) 50% Sold to date (%) 73% Sold to date (%) 56% Sales Plan 2 Years Sales Plan 1 Year Sales Plan 1 Year Final Delivery Q4, 2018 Final Delivery Q4, 2016 Final Delivery Q1, 2017 Planned Hotel Investment Project Marina Hotel • Five Star hotel with a total capacity of 110 rooms • Out of the 110 rooms, 60 rooms will be offered for sale as condo apartments. • The 60 condo units will be part of the hotel rental pool (infinite period of time) against a revenue share of the rooms revenues.

29 Advanced Negotiations For An Optimum Debt Refinancing Package

. Management is 500 68 465 102 450 Hotels currently 95 400 363 112 undergoing a 350

300 172 restructuring Net Debt Total Debt Build-up 250 Breakdown by 397

program in an 200 (CHF mn) 1 130 Entity effort to de-lever 150 (CHF mn) 1 OHD’s balance 100 50 Corporate sheet down to - 286 normalized levels Overdrafts LTD CPLTD Tamweel Total Debt Cash Net Debt

. The Company is

100

planning to pay 90 16% down ~EGP 700 80 70 68 7% 37% mn (CHF 92.1 mn) 60 55 51 52 Total debt by Loans Runoff 50 currency of which the 2 40 (CHF mn) 1 company had 30 ( %,) 20 12 10 10 5 40% already paid EGP 10 270 mn (CHF 35.5 0 2015 2016 2017 2018 2019 2020 2021 2022 EGP USD EUR Others mn) for capitalized interest and past dues and is negotiating with 30.06.15 31.12.14 banks to reschedule EGP Weighted average cost of debt (%)1 7.3 7.6 1,049 mn (CHF 130 mn) in overdrafts

1 Figures are as of ODH Financial Statements of 1H 2015 2 Sum of LTD and CPLTD, excluding Tamweel and adjustment and illuminations of CHF 4.0 mn at the Group level

30 Analysis of Current Market Prices Suggests that ODH’s Other Projects are Attractively Priced

493 1 (101) 78 18 The Market Values ODH’s Other Projects at a Deep Discount to Book 172 392 ODH Net These figures represent the net BV3 of each of ODH’s Other Projects, Debt 225 totaling CHF 458 mn. This implies a deep discount (CHF 362 mn) to the Build-up equity value derived by the market (CHF mn)

Short term Long term shareholders Land Total Debt Cash Net Debt debt debt loan Liabilities 362 14 14 458 1 15 296 1 56 36 Net Debt 240 34 Breakdown 56 by Entity (CHF mn) 87

OHD Net Debt Other Projects' Net Debt ODH Consolidated Net Debt 202

400 343

350 96 96 300 291 Equity 247 250

Value 200

Analysis 150

(CHF mn) 100

0 Other Other Market 2 2 3 ODH Market Cap OHD Market Cap ODH Propotionalte Other Projects's Equity Projects’ Projects’ Implied Stake in OHD value Book Equity Discount Value Value

1 Excludes debt held on Tamweel; the company’s leasing arm 4 This represents the total consideration at which Cape Citadel (a 5-star hotel on the Red Sea Coast) was priced according 2 As of June 30th , 2015 to a legal dispute between ODH and Falcon 3 Net BV represents equity value + quasi-equity; which are amounts due to ODH and expected to be capitalized at a later stage

31 Agenda

ODH: Leading Developer of Fully Integrated Towns Page 4

Projects Overview Page 11

Performance, Strategy and The Opportunity Page 22

Operational and Financial Summary Page 34 Page 17

Appendices Page 46

32 Operational And Financial Summary

33 ODH weathered through some turbulent times and is emerging strong after the storm…

. With the recent Contracted Units, Average Selling Price TRevPar, Occupancy Rates political stability, (Units, CHF )1 start of an 100 (CHF, %) 100% economic recovery300.0 152 271 204 265 182 30.00 90 90% in general and 80 80% 56% 57% revival of the 2.34 70 70% tourism sector in200.0 5.26 20.00 60 51% 51% 52% 60% particular, ODH 50 50% 216 2.52 2.63 40 40% started benefiting 2.38 100.0 115 10.00 30 57 457 30% through increased 51 48 49 88 20 20% Real Estate Sales & 66 70 10 10% Hotel revenues - 0.00 0 0% 2011 2012 2013 2014 1H 2015 2011 2012 2013 2014 1H 2015 Value of Contracted Units, CHF mn Number of Contracted Units . The Company’s Average Price / sqm, CHF 000’s TRevPAR Occupancy Rate restructuring efforts over the …Translating into Enhanced Financial Performance last period are already bearing Revenue EBITDA the fruits of its (CHF mn) (CHF mn) success through 105 generally positive financial indicators 37.9 254 272 221 251 165 2011 2012 2013 2014 1H 2015 -81 -40 2011 2012 2013 2014 1H 2015 -52

* OHC was deconsolidated in 2014, and hence, was excluded from our figures retrospectively

34 Business Segments 1H 2015

Revenue EBITDA Adjusted EBITDA1

(CHF mn) 1H 2015 1H 2014 Δ in % 1H 2015 1H 2014 1H 2015 1H 2014

Hotels 58.5 48.8 20% 6.0 2.6 6.3 3.7

Real Estate & Construction 41.1 49.5 (17%) 12.5 17.0 9.5 15.8

Land 42.6 0.8 5225% 40.8 (0.2) 42.3 0.5

Destination Management 6.8 6.7 1.5% (1.7) (2.7) (1.5) (1.3)

Other Operations 15.5 14.8 4% 4.5 14.3 4.2 6.0

Corporate & Unallocated Items - - - (24.2) 31.5 (13.8) (14.0)

ODH Group 164.5 120.6 36% 37.9 62.5 46.9 10.7

1 Adjusted EBITDA: EBITDA adjusted for non cash items (which includes provisions & impairments, other gains and losses, FX gains & share in associates)

35 Real Estate KPIs 1H 2015

Value of contracted Number of contracted Average selling price Value of deferred units (CHF mn) units (CHF/m2) Income (CHF mn)

Country Destination 1H 15 1H 14 1H 15 1H 14 1H 15 1H 14 1H 15 1H 14 Egypt El Gouna 60.3 18.1 150 40 2,541 2,302 80 31 Fayoum 0.2 - 1 - 590 - 3 4 Makadi 0.8 1.3 16 28 646 583 1 2 Gardania 1.8 - 3 - 1,262 - - - Oman Jebel Sifah 4.0 2.2 5 3 2,200 2,778 18 28 Salalah Beach 0.9 0.1 4 - 3,512 - 14 12 Montenegro Luštica Bay 1.5 8.8 3 23 4,495 4,410 30 36 ODH Group 69.5 30.6 182 94 2,379 2,345 145 113

Numbers net of cancellations: ODH Group 42.2 24.5 138 71

36 Deferred Revenue Recognition Schedule, CHF mn

Deferred Revenue Country Destination 2H 2015 2016 2017 2018 2019 Balance Egypt El Gouna 80.4 11.4 33.7 32.7 2.5 -

Fayoum 3.2 0.7 2.5 - - -

Makadi 0.6 0.2 0.4 - - -

Total Egypt 84.2 12.3 36.7 32.7 2.5 -

Oman Jebel Sifah 17.6 3.3 0.8 1.9 0.6 11.0

Salalah Beach 13.5 9.8 0.5 2.2 1.1 -

Total Oman 31.1 13.0 1.3 4.1 1.7 11.0

Montenegro Luštica Bay 29.6 6.0 14.0 4.4 - 5.2

ODH Group Total Group 144.9 31.4 52.0 41.2 4.1 16.2

37 Real Estate Performance Update

. Successful outcome resulting from the first implementations Joubal Joubal lagoons of the new real estate strategy in Egypt, with preliminary results being witnessed during 2Q15. . Net sales in El Gouna in 2Q15 alone increased by 233% to reach CHF 60.3 mn vs. CHF 18.1 mn in 2Q14 . Cash Collections from the new sales in 2015 to date reached EGP 88.8 mn

. El Gouna, Egypt, Launching new inventory of USD 50 million Launch Date October 2014 Launch Date March 2015 Total Inventory units 92 during 3Q and 4Q 15. Inventory units 111 Inventory value ,USD 46.5 million Inventory value, USD 36.9 million . Makadi, Egypt, signed two new contracts with an external Sold 90% Sold 91% developer for EGP 15 mn (CHF 1.8 mn) to manage the Final Delivery October 2016 Final Delivery March 2017 destination’s existing retail outlets and build its club house facility. Lustica Bay, Apt Buildings Jebel Sifah, Golf Course . Fayoum, Egypt finalizing the construction of the sold villas, to be delivered in 1Q16 . Lustica Bay, Montenegro, held the official launch party in August recognizing the successful completion & handover of first 10 apartment buildings marking the destination’s start of operations. . Jebel Sifah, Oman launching phase 1 (9-holes) of the Sifah Golf course

38 Hotel KPIs 1H 2015

Number of hotel Occupancy ARR TRevPar rooms rate (%) (CHF) (CHF)

Country Destination 1H 15 1H 14 1H 15 1H 14 1H 15 1H 14 1H 15 1H 14

Egypt El Gouna 2,706 2,706 65 55 47 48 49 42

Taba Heights 2,365 2,365 17 21 42 26 16 13

Others Red Sea *1,627 1,117 64 51 28 31 39 31

Floating Hotels 27 27 11 3 509 402 78 19

Oman Jebel Sifah 79 79 32 27 136 123 88 74

Salalah Beach 481 481 48 24 93 100 85 41

U.A.E The Cove 346 346 70 77 157 156 192 205

ODH Group 7,632 7,121 52 44 53 52 49 40

* Citadel Azur , five – stars hotel with 514 rooms was added back to ODH’s hotel portfolio, post the settlement reached with Falcon Hotels

39 Hotel KPIs 2Q 2015

Number of Occupancy ARR TRevPar hotel rooms rate (%) (CHF) (CHF) Country Destination 2Q 15 2Q 14 2Q 15 2Q 14 2Q 15 2Q 14 2Q 15 2Q 14

Egypt El Gouna 2,706 2,706 68 60 48 49 52 46

Taba Heights 2,365 2,365 23 18 42 20 23 9

Others Red Sea *1,627 1,117 74 45 29 33 44 29

Floating Hotels 27 27 14 3 409 341 89 17

Oman Jebel Sifah 79 79 29 27 128 108 75 69

Salalah Beach 481 481 26 14 89 108 47 26

U.A.E The Cove 346 346 73 78 144 154 189 203

ODH Group 7,632 7,121 56 44 50 53 51 40

* Citadel Azur , five – stars hotel with 514 rooms was added back to ODH’s hotel portfolio, post the settlement reached with Falcon Hotels

40 Hotels performance update

. The successful tour operating commitment deals along with the new yielding strategy & pricing protocol introduced in 2014 afforded 18% increase in occupancy rates in 1H15 over 1H14, in spite of the security challenges in Egypt . The new launched marketing campaign between FTI & El Gouna, resulted in 80% growth in FTI’s room-night in 2Q15 over 2Q14 . El Gouna Hotels’ online sales in 1H15 recorded a 63% increase in total revenue and a 20% increase in room rate over 1H14 . A notable boost in the performance of Makadi Hotels with a 200% increase in the hotel’s GOP during 1H15 over 1H14 . Italian business represents 21% of the total Omani Hotels’ business and is the destination’s second producing market with approximately 11,000 room nights in 1H15 . Progressing with the development of the Ancients Sands Hotel in El Gouna ,Egypt, Al Fanar Hotel in Salalah Beach, Oman, and the Cove Rotana extension in Ras Al Khaima . UAE. The 3 properties are due to launch between Dec15 and 1Q 16

Launched El Gouna-FTI new joint-marketing campaign facilitating an 80% growth in FTI’s room-night in 2Q 2015

41 Snap Shot - Income Statement And Balance Sheet 1H 2015 , CHF Million

Summary Income Statement 1H 2015 1H 2014 Revenue 164.5 120.7 Cost of sales (114.7) (104.4) Gross profit 49.8 16.3 Gross profit margin 30.3% 13.5% Profit / (loss) before tax 7.6 35.5 Income tax expense (4.7) (5.5) Non-controlling interests 1.1 1.5 Net profit / (loss)attributable to ODH shareholders 4.0 31.5

Selected Balance Sheet Items 30.6.15 31.12.14 Property, plant and equipment 788.2 886.8 Inventories 268.1 305.6 Receivables 172.7 146.9 Cash and bank balances 102.1 100.7 Total assets 1,669.6 1,781.0 Borrowings 464.9 531.7 Payables 42.6 60.0

Other Liabilities 338.8 368.1 Total Equity 823.3 821.2

42 Agenda

ODH: Leading Developer of Fully Integrated Towns Page 4

Projects Overview Page 11

Performance, Strategy and The Opportunity Page 22

Operational and Financial Summary Page 34 Page 17

Appendices Page 46

43 Appendices

44 Hotels Portfolio

45 El Gouna - Hotels Map

46 ***** ***** ***** 12 Rooms 420 Rooms 134 Rooms

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

***** **** ***** 268 Rooms 54 Rooms 339 Rooms

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

47 **** **** **** 239 Rooms 234 Rooms 69 Rooms

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

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

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

48 *** *** *** 50 Rooms 67 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 the most luxurious views and the most Abu Tig Marina, Turtle’s Inn is one of El beach, the 3-star Captain’s Inn is one of convenient accessibility! Famed for its Gouna’s most sought-after addresses. El Gouna’s most sought after small terrace, Ali Pasha’s nightly beauty is This modern hotel offers tastefully hotels welcoming divers, kitesurfers, and complemented by the delicacies served furnished rooms, refreshing style, and partygoers. at the town’s only Indian Restaurant, personalized service. Tandoor.

*** 177 Rooms

Arena Inn offers all the amenities and comforts of a holiday resort with a private swimming pool and beautifully designed waterfront restaurant. Hotel guests enjoy access to a full-service beach.

49 Taba Heights- Hotels Map

50 ***** ***** 503 Rooms **** 426 Rooms 394 Rooms

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

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

Capturing the essence of Egypt with The 4-star all inclusive resort A signature Club Med Resort in the heart its winding alleys and stunning managed by a family-owned Belgian of Sinai. Providing exceptional features, the hotel overlooks El hotel chain. Offering unparalleled opportunities to discover the region’s Gouna’s lagoons and offers a tropical Red Sea holidays for families with famous attractions, the unique Resort is garden setting in the heart of the children, the resorts’ unique set on a beautifully preserved bay town with easy access to the vibrant architectural design is complemented covering 27 hectares, flanked by a 600 Tamr Henna Square. by lush landscaped gardens yard stretch of private beach offering an ideal site for exploring the fabulous underwater life of the Red Sea 51 Located at Makadi bay, one of Hurghada’s fascinating shores, 25km away from Hurghada International airport, the All Inclusive beachfront resort overlooks its own spacious ***** private sandy beach, offering seven 491 Rooms restaurants & bars, a fully equipped watersports center, two tennis courts, a squash court, billiards, a fully equipped fitness room and 2 swimming pools.

Only 25km away from Hurghada International airport, the beachfront resort is easily accessible offering seven restaurants & bars, a fully **** equipped watersports center, two 339 Rooms tennis courts, a squash court, billiards, a fully equipped fitness room and 2 swimming pools

Ideally located only a few kilometers away from Hurghada, Makadi is settled in the heart of the Red Sea tourism hub located only 25 Sahl Hasheesh and Safaga; the kilometers away from Hurghada International Airport and just a short drive Adults Only Azur Makadi Gardens from the bustling shopping and dining venues of Hurghada and Sahl Hotel provides easy access to Hasheesh. Featuring a variety of residential units, hotels, commercial and **** most of the Red Sea’s world-class entertainment areas, as well as all the supporting infrastructure and 287 Rooms waterfront destinations with services, Makadi allows individuals and families to benefit from a more clustered facilities with its sister active lifestyle. hotels Royal Azur and Club Azur.

52 ***** 283 Rooms

Located on an idyllic water inlet on the Ras Al Khaimah beachfront overlooking the Arabian Gulf with 600 m of pristine beach, the Cove Rotana encompasses a number of Villas that are ideally designed to accommodate families of a group of friends. With a Nubian touch in their design, the Villas are well-crafted and aesthetically designed to offer comforts that you would expect of a 5-star resort and much more. From spacious Living rooms, private terraces, spectacular views of the Arabian Gulf to the lagoon or lush green hills, each of the Villas are designed to anticipate and cater to your every need

Its ideal location at the entrance of the emirate made the development a regional investment and leisure attraction. Extending over about 300,000 sqm, The Cove overlooks 600m of private beach and comprises an internationally renowned 5-star hotel operated by Rotana, exclusive real estate, and a range of upscale services and amenities. State-of- the-art leisure and urban facilities are within easy reach as the development is in close proximity to two golf courses, several shopping malls and supermarkets, international schools and hospitals of international standard. 53 www.thecove-uae.com **** 67 Rooms

Designed by renowned Italian designer Alfredo Freda, the Sifawy Boutique Hotel is ideally located only 45 minutes away from the capital city of Muscat in the heart of the picturesque marina town.

Jebel Sifah, Orascom Development’s third biggest town, is only an hour away from the Muscat city center stretching across 5 km of beachfront. Jebel Sifah boasts a planned 950 residential units, an18-hole PGA golf course, and an 84-berth inland marina surrounded by a picturesque marina town. Orascom Hotel Management currently operates the Sifawy Boutique Hotel, and further plans to develop five 5-star hotels including some of the world’s most prestigious brands, among them the Four Seasons. Restaurants, cafés, luxuriously-appointed spas, and boutiques featuring the latest fashion complete the town’s offerings. 54 www.jebelsifah.com ***** 399 Rooms

A newly opened hotel offering a unique holiday experience capitalizing on the Rotana’s understanding and hospitality expertise, the upscale hotel’s Omani-inspired architecture features a series of clusters surrounding the main building, housing major public facilities and amenities.

***** 82 Rooms

Offering a spectacular landscape of fertile plains, fresh water springs, and lush coconut Nestled on the picturesque marina promenade of Salalah Beach and trees enhanced by the monsoon during the summer, Salalah Beach is the Group’s first facing the Indian Ocean, the hotel offers traditional lifestyle and values and the region’s only tropical destination. Located on the southern part of Oman, expressed in the glowing architecture and aromatic food along with the Salalah Beach is a large family-oriented complex boasting over 8 km of beachfront on scents of frankincense and sandalwood. Among the recreational the Arabian Sea as well as a man-made lagoon system extending the sea inland. Once facilities are 2 large swimming pools, a state-of-the-art wellness centre fully developed, it comprises high-end luxury apartments and villas, restaurants and and intimate guestrooms cafés, shopping and retailoutlets, hotels - ranging from boutique to five-star beach 55resorts, a 200-berth inland marina, as well as two 18-hole PGA golf courses. ODH Shares - Shareholding Structure*

Shareholders by Country Shareholders by Type Shareholders Breakdown

6% 10%

31% 32% 13% 51% 51%

20% 63% 18% 5%

Dispo Shares Cayman Islands Egypt Switzerland Institutional Retail Dispo Shares Samih Sawiris Other Janus Capital Management LLC Share Information Free Float No. of Registered Shares: 14,001,730 No. of Dispo Shares: 14,541,417 Market Capitalization**: CHF 343.94 mn * As of 31.08.2015 ** As of 20.09.2015 Reuters Code: ODHN.S Index: SPI Index

56 ODH EDR - Shareholding Structure*

Shareholders by Country Shareholders by Type Shareholders Breakdown

6% 1% 15% 18% 12%

1% 2% 18% 4%

8% 67% 67% 81%

Samih Sawiris Egypt UK KSA Other SOS Institutional Other Retail OIM PROJECTS LIMITED

DELLCREST CORPORATION

Share Information First Arabian Development & Investment No. of Registered Shares**: 186,428 mn Company Arab Investment Reuters Code: ODHR.CA Free Float * As of 30.06.2015 ** Implying a conversion ratio of 20:1, where 20 EDRs in Egypt are equivalent to 1 registered share in Switzerland.

57 Income Statement

All figures are in CHF mn, unless otherwise 2010 2011 2012 2013 2014 1H 2015 noted Egypt 383 208 211 161 179 117 Oman 84 6 18 15 30 19 UAE 29 27 30 29 27 13 Others 20 15 14 17 14 16 Total Revenues 516 256 272 221 251 165 Cost of sales (310) (208) (219) (187) (188) (102) Depreciation Expense (30) (28) (30) (28) (25) (13) Gross Profit 175 20 23 6 37 50 % Margin 34% 8% 9% 3% 15% 30% Administrative expenses (58) (81) (66) (71) (45) (19) Investment income 12 12 6 5 4 3 Other gains and losses 19 (13) (33) (39) 93 (4) Finance costs (7) (8) (9) (31) (33) (17) Share of profit of associates (2) (5) (1) (10) (9) (5) Profit / (Loss) before tax 141 (76) (79) (140) 47 8 % Margin 27% (30)% (29)% (63)% 19% 5% Income tax expense (19) (0) (11) (21) (11) (5) Profit / (Loss) from continuing operations 122 (76) (90) (160) 36 3 % Margin 24% -30% -33% -72% 14% 2% Profit / (Loss) from discontinuing operations - - (11) (7) - - Total income statement 122 (76) (101) (167) 36 3 Non-controlling interests 27 (7) (4) (10) (6) (1) Owners of the Parent Company 95 (70) (97) (158) 42 4

Total income statement 122 (76) (101) (167) 36 3 Finance costs 7 8 9 31 33 17 Income tax expense 19 0 11 21 11 5 EBIT 148 (68) (82) (116) 80 25 % Margin 29% -27% -30% -52% 32% 15% Depreciation Expense 30 28 30 28 25 13 EBITDA 178 (40) (52) (88) 106 38 % Margin 35% -16% -19% -40% 42% 23%

58 Balance Sheet

All figures are in CHF mn 2010 2011 2012 2013 2014 1H 2015 Cash & Bank Balances 276 79 102 73 101 102 Net Receivables 159 137 95 52 96 88 Due from Related Parties 24 45 18 17 37 45 Inventories 260 478 499 357 306 268 Other Current Assets 130 88 82 62 114 112 Total Current Assets 849 828 795 562 654 615 Property, Plant and Equipment 926 969 1,003 767 887 788 Investment Property 78 76 79 10 12 11 Goodwill 8 8 7 7 7 6 Investment in Associates 35 29 19 104 112 104 Long-Term Receivables2 108 102 94 33 84 93 Other Non-Current Assets 88 70 85 42 25 52 Assets Held for Sale2 - - - 150 - - Total Assets 2,093 2,083 2,083 1,673 1,781 1,670

Trade and Other Payables 57 58 50 30 37 25 Borrowings2 241 282 324 198 274 251 Due to Related Parties 3 6 17 16 3 2 Current Tax Liabilities 16 6 5 3 6 4 Provisions 57 90 79 96 83 73 Shareholders’ Loan 28 23 9 39 69 78 Other Current Liabilities 138 181 251 157 158 137 Total Current Liabilities 540 645 735 550 631 570 Land Liabilities 36 32 32 26 23 18 Borrowings2 271 254 279 211 258 214 Other Non-Current Liabilities 54 58 60 46 48 44 Liabilities Held for Sale2 - - - 79 - - Total Liabilities 900 990 1,106 911 960 846 Minority Interest 198 241 236 219 200 218 Shareholders' Equity 996 853 740 543 621 605 Total Liabilities & Equity 2,093 2,083 2,083 1,673 1,781 1,670

1 The drop was due to the deconsolidation of OHC 2 The fluctuations in those accounts from 2012 – FY 2014, are due to the reclassification of CMAR and Tamweel as “Assets Held for Sale” in 2013, before reversing the reclassification of Tamweel and retaining it in 9M 2014 59 Board Of Directors

After receiving his Diploma in economic engineering from the Technical University of Berlin in 1980, Mr. Sawiris founded his first company, National Samih Sawiris Marine Boat Factory. In 1996, he established Orascom Projects for Touristic Development and in 1997 Orascom Hotel Holdings, the two companies later Chairman and merged to form Orascom Hotels & Development S.A.E. (OHD). Furthermore, Mr. Sawiris established El Gouna Beverages Co. in 1997, which he sold in CEO of ODH 2001 when it was the largest beverage company in Egypt. Mr. Sawiris now serves as chairman and CEO of Orascom Development.

Dr. Tooma is a tenured professor of finance and holds the British Petroleum endowed chair with the School of Business at The American University in Cairo. He combines academic experience with practical exposure through assuming a variety of public and private professional posts. He was senior Eskandar Tooma advisor to the Egyptian Capital Market Authority for 3 years, as well as a member of a variety of committees including the EGX30 Index Committee, CFO of ODH Market Advancement Committee at the Egyptian Stock Exchange, an advisor and member of the Derivatives and Commodities Exchange Committee with the Ministry of Investments and an advisor to the Ministry of International Cooperation on Egypt’s Debt Swap Experience. Mr. Tooma sits on the board of two EGX listed and actively traded companies:

Mr. Douiri is the founding shareholder and CEO of Mutandis, a Moroccan investment company established in 2008. Mr. Douiri served in His Majesty Adil Douiri King Mohamed VI’s Government as Minister of Tourism (2002-2004) and later as Minister for Tourism, Crafts & Social Economy (2004-2007). In 1992 Mr. Non-Executive Douiri founded Casablanca Finance Group (later renamed CFG Group), the country’s first investment bank. Until 2002 he acted as chairman of its Member supervisory board and is still a board member. He is also a board member of BMCE Bank, the third largest Moroccan commercial bank, and MFEx, a Stockholm based technology company serving the financial industry. Mr. Douiri graduated as an engineer from the Ecole Nationale des Ponts & Chaussées (ENPC) in Paris.

Mr. Egle’s background is in strategy development, corporate communications, media and PR. After holding senior positions in the private sector he was Franz Egle in charge of communications at the Swiss Federal Department of Foreign Affairs and advisor to the Minister of Foreign Affairs (1993-1998). Before co- Non-Executive founding Dynamics Group, a Swiss company providing strategic consulting, communication management and research analysis, Mr. Egle was a partner Member of Hirzel. Schmid.Nef Konsulenten, a communication and financial consultancy firm (1999- 2006). Mr. Egle holds a Doctor’s degree in sociology from the University of Zurich. Dynamics Group, where Mr. Egle is a Senior Partner, has been retained by the Group to provide services in the field of communications

60 Board Of Directors

Carolina Müller- Ms. Müller-Mohl has been President of the Müller-M hl Group since 2000. From 1999 to 2000, she was Vice Chair of the Board of Directors of Müller- Mohl Holding AG, after working as a journalist and advertising and PR consultant. She is currently the chairperson of Hyos Invest Holding AG. After Möhl gaining an International Baccalaureate at Upper School Salem International College (Germany), Ms. Müller-Mohl studied politics, history, and law the t Berlin. She graduated with a Master’s degree in political science andنNon Executive University of Heidelberg and at the Otto-Suhr Institut at the Freie Universit Member completed further studies at the London School of Economics and at the Europainstitut of the University of Basel.

Mr. Jurgen Fischer, is founder of „The Pearl Management Consultants“ in Dubai, United Arab Emirates. Previously he was CEO of Dubai Properties LLC, Jürgen Fischer a major Real Estate Developer in the UAE. During his time with Dubai Properties he oversaw several Theme Park and Tourist projects. Between 1995 Non Executive and 2008 Jurgen Fischer held several senior positions with Hilton International. Prior to joining Hilton, he worked for the Walt Disney Company in Member different roles in Florida and Paris including Vice President Sales & Marketing for Disneyland Paris and Director of Resort Development at Disneyland Paris. Mr. Fischer graduated from the Ecole Hôtelière Lausanne, Switzerland and obtained an MBA with Honors from IMEDE/IMD, Lausanne in 1988

Marco Sieber Mr. Sieber studied economics at the Business School in Lausanne. After graduating with a business degree, in 1989 he took over the family owned Non Executive company SIGA Ltd. together with his brother. Mr. Sieber managed to transform SIGA Ltd. into a company which operates internationally and which has Member over 300 employees. SIGA Ltd. develops and produces products for the construction sector, namely in the field of energy-saving sealings. In 2012, Mr. Sieber also became majority shareholder in Baertschi Agrartecnic Ltd. Since 2011, Mr. Sieber is an active investor in the soccer club FC Lucerne (FCL) and since 2013 he is president of the FCL Holding.

Jürg Weber holds a MBA and a Major in Finance and Strategic Planning from the Wharton School, University of Pennsylvania. Mr. Weber previously Jürg Weber studied Civil Engineering at the School of Engineering in Switzerland and Microeconomics and English at the University of California, Santa Barbara. Mr. Non Executive Weber is the founder and owner of the “Golden Horn Management”, Ukraine. Previously, Mr. Weber was CEO of “Boyner Holding”, Turkey, a Partner Member at McKinsey & Company and an Assistant Vice Chairman in “UBS Philips & Drew”. Mr. Weber is currently serving as member of the Board of Directors of „AVIVA Sigorta A.S:“, „KRON TELEKOMÜNIKASION HIZMETLERI A.S.“, „GREAT TURK FUND LTD.“ in Turkey, and „BENSYS HOLDING“, Holland.

61 Executive Management Team

. Eng. Abouyoussef started his career in design and installation of hotel electro-mechanical systems in 1998.He soon moved to project management in hotel construction, in addition to being the owner’s representative at Amphoras Holiday Inn, Sharm El Sheikh. He now has his own company, Shores Abdelhamid Hotels currently managing 1,600 rooms across Egypt. He also founded a travel agency that handles over 100,000 tourists per year Abouyoussef . Eng. Abouyoussef helped develop Orascom Hotels Management, a JV between ODH and Shores, to manage OHD’s entire hotels portfolio, and other ODH Chief Hotel hotels on the ODH level Officer . Eng. Abouyoussef received his B.S. in Mechanical Engineering from the American University in Cairo and a Masters of Science degree from the University of California at Berkeley

62 IR dashboard

Investor Relations Contact:

Sara El Gawahergy Head of Investor Relations Tel Dir +20 (0)22 461 89 61 Mobile EGY: +20 100 2185651 Mobile CH: +41 41 874 1711 sara.elgawahergy@orascomdhcom [email protected] www.orascomdh.com/en/investor-relations