guidance financial group We are a leading-edge, international financial services company that specialises in creating, structuring and managing investment and consumer finance products and services that conform to Islamic requirements (Shariah).

These products enable institutional investors to investment products. In addition, we offer access high quality assets that are in accord with Capital Markets services that enable companies their beliefs and principles. to access international capital markets using As a part of Capital Guidance, a privately-held, Shariah-compliant securities. We also provide international investment firm with more than half Shariah Structuring and Placement services to a century of successful operations, we offer our fund managers seeking investments from clients and partners a deep and broad experience Islamic institutional investors. in finance and management, along with a unique We work closely with respected international set of capabilities to address the burgeoning strategic partners to build our products and global Islamic finance field. businesses, which are based in the United States, First and foremost, we create prudent, sound, the and North Africa (MENA), innovative, and high quality investments that are and Asia. We are broadening our geographic managed with a strong fiduciary responsibility. footprint within these regions to include These range in scope from individual companies additional countries that are primarily Islamic with a specialisation in housing finance to financial or have large Islamic populations. 3

the spirit and values of guidance

guidance financial group Appropriate to the principled precepts Earn trust and respect underlying our products and services, Earn and continually justify the trust and respect of investors, partners, customers and others based on our knowledge, integrity, and dedication to their success. at the leading edge of principled finance we operate our business and conduct our relations with clients, partners, Employ and retain exceptional staff colleagues and vendors in accord with Employ and retain a highly educated, experienced and well-trained staff that a well-defined and explicitly honoured speaks multiple languages, demonstrates cultural sensitivity, and takes leadership roles in our fields of finance. set of values. Uphold ethical and best business practices Apply ethical and best business practices in every company activity.

Promote and maintain transparency Promote and maintain transparency and accessibility for investors, clients and strategic partners.

Innovate and excel Originate and develop high-quality products and services through the creativity, innovation and excellence of our work.

Create principled investments and superior returns table of contents Create principled and innovative investment solutions for institutional and high net-worth investors and provide them with superior risk-adjusted returns. 02: Guidance Financial Group Provide in-depth advisory services 03 The Spirit and Values of Guidance Provide in-depth advisory, structuring and placement services to companies seeking 04 Guidance Financial Group Overview to raise capital or make their products and services Shariah-compliant. 06: Products & Services Generate opportunities for partners 07 Operating Structure 08 International Finance Generate opportunities for strategic partners to originate new principled investment 12 Investment Management products and housing finance solutions. 17 Capital Markets Create solutions for unmet housing finance needs 18 Shariah Structuring and Placement, Develop and offer values-based residential mortgage and financial products, and Shariah Compliance Advisory and Monitoring foster home ownership through expansion of housing finance markets in emerging A Note About the Art 20: Capabilities and advanced economies. The power of an artist to mold simple paper into 20 Product Development complex abstract designs serves as a visual 21 Strategic Partnerships Assemble and retain an outstanding Shariah Supervisory Board metaphor for Guidance’s ability to create unique Assemble, retain and draw upon an independent, authoritative and respected 26: Management Shariah Supervisory Board. financial products structured and shaped to meet the 27 Selected Biographies demanding investment needs of our global clients. 32 Contact Information Guidance Financial Group 5

guidance financial group

Guidance Financial Group was created We imagine, research and develop our capital guidance in 2000 as a wholly-owned subsidiary products, most of which are pioneering, to fill underserved consumer and of Capital Guidance to specialise in Guidance Financial Group is a part international commercial market niches and provide the then-nascent field of Islamic of the Capital Guidance Group finance attractive risk-adjusted returns to our of companies. Capital Guidance, financial services. clients. In addition, we advise and housing finance, banking a privately-held international and consumer finance assist corporations seeking funding investment firm, builds and manages Over more than a decade, we have from international capital markets long-term real estate, trading and created, developed and managed through the issuance of Shariah- distribution, and financial services unique, high-quality businesses and compliant securities. businesses across the globe. It also proprietary investment funds on behalf Because of our values, perseverance actively manages a diversified global portfolio of marketable securities of our sovereign, institutional and and longevity, we are able to attract and private equity funds. Capital family office clients. exceptionally qualified international finance and operations leaders to our Guidance’s distinguished operating shariah management team. They continually spans more than 50 years. structuring We specialise in four broad areas of activity: further our ability to create and execute As an integral part of Capital Guidance, and placement » International Finance: building on new and innovative business ideas. we are realising our parent company’s Shariah-compliant financial institutions We stand apart from most international original vision of participating in across different countries. the Islamic finance field by creating investment capital investment houses in that all of our management markets » Investment Management: creating products are carefully structured and cutting-edge international finance and managing real estate, fixed independently affirmed as Shariah- solutions. Among these are housing real estate, sukuk origination, income and private equity products compliant, in accord with the ethical finance innovations in primary fixed income, structured products, for institutional and private investors. precepts of Islamic business principles. and secondary mortgage sectors; private equity asset finance high quality alternative investment » Capital Markets: providing financial Our products and services are products across several asset classes for advisory services for corporations appropriate as well for non-Islamic institutional investors; capital market seeking to issue sukuks (Islamic bonds) institutional investors who seek high solutions for corporations seeking or structured products, or to finance quality investments and management. financing from Islamic investors; and real assets. Our business investment activities are Shariah structuring and placement » Shariah Structuring and Placement: concentrated in both developed and services for corporations, investment providing advisory services for fund emerging markets that have meaningful funds and other parties. sponsors and corporations seeking funding Muslim populations. from Islamic institutional investors. 7

operating structure

products & services At Guidance Financial Group, we » International Finance is our division that develops and provides Shariah-compliant divide our global products and services residential mortgage origination, secondary market solutions, and consumer finance products and services. Our primary geographical focus is those countries in North principled paths, profitable destinations into four tightly integrated operational America, Southeast Asia, and the Middle East and Africa that have significant or segments, which together address the proportionally high Muslim populations. Our Guidance Residential business in the unmet needs of institutional and private United States develops and offers Shariah-compliant residential mortgages and other investors and consumers. related financial products to U.S. home owners. The mortgage program was developed in conjunction with Freddie Mac (Federal Home Loan Mortgage Corporation), a U.S. public government-sponsored enterprise. In , we created Dar Al Tamleek with prominent Saudi investors such as the Public Pension Agency to provide residential mortgage products to the underserved Saudi market.

» Investment Management services are provided through our Guidance Investments division, which creates and manages a broad range of alternative investment products in the asset classes of real estate, fixed income and private equity. Guidance Investments is licensed by the Securities Commission of Malaysia as an Islamic Fund Manager. Malaysia has developed into one of the most important world centres for Islamic finance and we employ a unique staff exceptionally knowledgeable about and experienced in local and regional markets.

» Capital Markets is our division that offers services to Middle East companies seeking access to international capital markets using Shariah-compliant securities. Our services help clients in each step necessary for capital markets participation, including obtaining a credit rating from internationally-recognised agencies, planning and structuring their securities, and arranging for underwriting and distribution. We also provide advisory services to companies seeking financing solutions backed by real assets, primarily industrial equipment and real estate.

» Shariah Advisory and Placement is our service for advising and assisting fund managers and businesses who seek to structure their activities as Shariah compliant in order to access investment capital from Islamic institutional and family office investors. All of our products and services are notable in that they are highly innovative and of a quality appropriate for institutional and private Islamic and conventional investors.

International Finance activities originate and are managed from our Southeast Asia, Middle East, North American, and European offices. Investment Management and Shariah Structuring and Placement operations are managed from our Southeast Asia and Middle East offices. Capital Markets operates primarily out of our Middle East offices. Products & Services 9

international finance

Our experience and knowledge have We went from idea to solution in less We built Guidance Residential from the As our experience with Guidance Because no secondary mortgage market Dar Al Tamleek, the resulting company enabled us to create and develop new than two years after the founding of bottom up, creating the product and the Residential in the United States grew existed, we needed to develop a large we created, has been an unqualified Guidance Financial Group. Today, mortgage structure (declining balance and matured in the largest and most balance sheet for our new company to success. After less than three years financial institutions and offer new Guidance Residential is the largest co-ownership) so that the financing was sophisticated market in the world, meet financing needs. We created the of operations, it achieved the leading and innovative financial products. provider of Shariah-compliant home Shariah-compliant and included all of we began looking for opportunities to idea for the company, wrote the business share of the Saudi mortgage market These benefit investors and under- financing in the United States to the the protections and benefits that are expand our housing finance expertise plan, developed the products and raised and won numerous local and regional served Muslim consumers in developed more than two million U.S. Muslims intrinsic features of Shariah contracts. into other markets where Muslim money from prominent Saudi investors, awards for the quality of its customer and holds an 80% share of this segment We accomplished this structure while consumers were underserved. Our including GOSI, an arm of the Saudi service and products. After the company and emerging markets in countries of the U.S. mortgage market. Guidance still preserving important U.S. mortgage ongoing research identified several Government. We wrote the code for was operating, Dar Al Tamleek was throughout North America, Europe, Residential has operations in 22 states tax deductions for our customers. opportunities, the most immediate of a sophisticated technology platform appointed as the exclusive representative the Middle East, North Africa, and has funded US$2.3 billion of which was in the heart of Islamic life, that allows online pre-approval of a of the Saudi Public Pension Agency’s Our teams did substantial research and and Asia. residential financing contracts since Saudi Arabia. mortgage application within seconds Masakin program, which seeks to its inception. development, working closely with our and final approval within 48 hours after encourage home ownership among Because of Capital Guidance's decades- strategic partner, Freddie Mac (Federal Saudi Arabia enjoys a large and thriving the receipt of required documentation. government employees. In the first We faced formidable challenges in Home Loan Mortgage Corporation), economy, has a high per capita gross long investment and management Such speed was unheard of in the three months of the program, Dar Al launching this company. The U.S. a U.S. public government sponsored domestic product and is characterised by country, where approvals typically Tamleek created more mortgages for experience in the United States, we financial services industry is heavily enterprise that promotes home ownership a rapidly expanding middle class. Our took weeks or months. government employees than had been chose this country as the first market regulated at the federal, state and by expanding the secondary market for research showed that the Saudi rate of issued in the previous three years. for Guidance Financial Group to create local levels. In addition, it is the most mortgages. We worked with them to home ownership was growing but that Masakin is the largest such employer competitive market in the world. create mortgage products that would the local mortgage industry was still in a and offer new Islamic finance products program in the kingdom, and the Saudi The formation of Guidance Residential meet the investment requirements of relatively undeveloped stage. Residential Public Pension Agency has become a and services. Our research showed that required creativity, skill, research, major secondary market participants, mortgages had been difficult to obtain key investor in Dar Al Tamleek. U.S. Muslims faced very limited options capital and a deep understanding both including Freddie Mac. for most Saudis, resulting in a market for purchasing homes with values- of the regulatory structures across the that was substantially underserved. country and the needs and desires We now are expanding Guidance based residential mortgages, which of U.S. Muslims. Residential to add other consumer led us to imagine and create Guidance finance products in the U.S. market Residential as a new U.S. consumer under our trusted U.S. consumer brand, including banking services and various finance company. types of Islamic insurance (takaful) related to home ownership and family protection. Products & Services 1111

We are exploring a number of expanding middle class, consumption by region: 2005 ppp emerging market countries with large us$, billions and global share or predominant Muslim populations, Source: Kharas & Gertz, 2010, Middle Class defined as daily expenditures including , Indonesia, and of between US$10 and US$100 per person in PPP terms (2005 dollars) Nigeria, where we can transfer our residential mortgage experience and Underlying the thrust of many Guidance business initiatives is the rapid create new housing finance businesses expansion of the middle class and urbanisation in emerging markets– for our institutional clients. We believe the future growth engine of the global economy. Rising populations, there are substantial opportunities soaring consumer purchasing power and growth in household formations for helping these and other countries are leading to increased demand for home mortgages, logistics services stimulate an expansion in their levels to supply consumer goods, infrastructure development and new retail of home ownership through greater destinations. These economic trends are leading us to create attractive access to residential financing, new investment opportunities for our clients and partners. development of robust secondary mortgage markets, and improved access to Islamic financial services. 60,000 Middle East & North Asia In addition, we are developing Islamic Sub-Saharan Africa banking initiatives that feature a broad 50,000 suite of consumer and corporate financial services in Morocco and other countries that are under-served for these types 40,000 of products. Asia Pacific 30,000

20,000 (Billions PPP, US$ and Global Share) (Billions PPP, Central & South 10,000 America Europe

Consumption North America 0 2009 2020 2030 Products & Services 13

investment management overview investment management

We specialise in the development and We apply considerable product development and structuring expertise to the creation Real Estate A few examples of the real estate funds We are focusing our expertise for our of investment solutions across the investment risk/reward spectrum, private equity created by Guidance Investments newest real estate platform in Southeast management of high quality, alternative As emerging countries become typically offering the highest risk and returns, real estate more moderate risks and illustrate our range: Asia, where we are developing real estate investment solutions in the asset wealthier and more urbanised, attractive returns, and fixed income the lowest risk and returns. investment programs based on attractive opportunities arise for new commercial classes of real estate, fixed income and » The Guidance Southeast Asia Real opportunities in the economically and industrial real estate investments. private equity through our Guidance Drawing on our own expertise, creativity and flexibility, along with that of strategic Estate Partnership is currently being dynamic countries of Malaysia, global partnerships, we construct different financial structures for our investment Similar investment prospects continually developed by Guidance to enable Investments company. We act as a Singapore, Thailand and Indonesia. products in each asset class to meet precise client investment objectives. We have materialise in mature countries, too, institutional investors to participate in general partner/investment manager developed relationships with a critical mass of more than 200 institutional investors, as their economies grow and prosper. the growth of selected countries in the Within the logistics and industrial in creating and managing Shariah- most of whom face a dire shortage of suitable Shariah-compliant investment products Success in finding, creating and region through a portfolio of quality sector, we are concentrating on single- developing real estate investments in compliant alternative investments in our targeted asset classes. logistics, industrial and warehouse- tenant properties leased to companies global markets requires broad experience retail real estate properties. with high credit ratings, while in the under the Guidance brand. In addition, We continually engage in extensive research and development activities in order in finance and property acquisition warehouse-retail sector we are working we sometimes act as entrepreneur, to create additional high quality programs and funds. Our products consist of and management, as well as a deep » The Guidance China Real Estate with hypermarkets (supermarkets) incubator and accelerator to create and investments centred in attractive emerging markets in Asia, the Middle East and knowledge of local markets, regulations, Opportunity Fund was developed in that are part of expansion plans for North Africa, and selected developed markets. currency and other risks, economic 2006 under the Guidance brand in nurture entirely new Shariah-compliant major regional and international retail prospects, and cultural customs. partnership with CBRE Global Investors corporations. Both types of investments businesses. These “opportunistic” We work independently or in conjunction with respected global fund managers as to provide institutional investors with an may be “build-to-suit” structures across strategic partners. To date, we have created a wide range of investment funds across Guidance Investments has built businesses all fall within our targeted opportunity for investment exposure to our targeted countries for dedicated our three asset classes. specialty teams in real estate and its asset classes and fill large, unmet the Chinese residential real estate market. clients, sale and leaseback transactions, other targeted asset classes to capitalise or purchases of existing properties fully consumer needs identified and studied While our funds are appropriate for institutional investors who have a fixed mandate on these opportunities on behalf of its » Guidance Hotel Investment Company tenanted by highly regarded companies. by our research teams. for Shariah compliance, they also are appropriate for other institutional investors. institutional investor clients. In addition, created Shaza Hotels, a joint-venture These include those who have a preference for Islamic structures and those whose we collaborate closely with the teams at with Kempinski Hotels, to introduce In addition to logistics and industrial investment criteria are focused solely on such factors as quality, sector, return, risk, Guidance’s parent, Capital Guidance, a new hotel brand and management properties in Southeast Asia, we are innovative nature, underlying assets, and management experience but not on whose extensive expertise in the real company that captures the spirit and art developing similar assets in Saudi Shariah aspects. estate sector has been built in the course of living of the East. The company has Arabia. The first, a build-to-suit of making more than US$5 billion of expanded its portfolio of hotels under warehouse for a large supermarket investments in 110 properties in North management or development into company that will become the tenant, is America, the MENA region, and Asia eight countries. under development. We also are building over several decades. a pipeline of projects for this and other firms requiring logistics facilities in Saudi Arabia. Products & Services 15

investment management

Fixed Income In the mortgage sector, Guidance » The U.S. Shariah-compliant Private Equity We benefit from the experience of our » The SBI Islamic Fund (Brunei), Residential, our U.S. consumer finance parent corporation, Capital Guidance, Finding quality fixed income Mortgage Portfolio began when In addition to specialty sector funds in established by SBI Holdings and the company that provides housing finance which has been a direct investor in investments that meet a desired asset Guidance Residential was created in real estate and fixed income, Guidance Brunei Ministry of Finance to invest contracts to U.S. consumers, generates private equity funds on a global basis allocation target without exposure to 2002 by Guidance Financial Group as a also creates and advises funds in the in Asian technology companies, is an a substantial volume of mortgages for over 25 years and a direct investor interest-bearing securities is a challenge new and unique company in the United private equity field. example of an independent private each year. These fixed income assets in operating companies in developed for many institutional investors. States to address the needs of U.S. Muslim equity fund for which we act as are sold to conventional and Islamic and emerging markets for more than Guidance creates different types of home buyers. It generates a portfolio of Private equity is an attractive asset Shariah Advisor. investors. We are studying the feasibility 50 years. This extensive knowledge, fixed income assets as a solution to this fixed income housing contracts and is the class that can provide investors with of securitising these mortgages as fixed learning and judgment inform our We thus create and realise solutions structural problem: Shariah-compliant largest provider of Shariah-compliant high risk-adjusted returns. However, income investments for a wider range approach to creating private equity that allow institutional investors to equipment leases through our leasing mortgages to U.S. Muslim families, the leverage, investment structure of international institutional investors. investment solutions. participate in and take advantage of initiatives; corporate sukuks (Islamic accounting for a more than 80% share of or investee business activities of unique opportunities. We then can securities) through our Capital Markets this market in the United States and more many institutional funds make them We are investigating the securitisation function as an operating fund manager operations; and Shariah-compliant than US$2 billion of residential mortgages. incompatible with Shariah principles. A few examples of private equity of mortgages from Dar Al Tamleek in on behalf of our investors or assume mortgages though our International We assure such compatibility. funds created or advised by Guidance Saudi Arabia into fixed income funds a technical advisory role. Finance operations. Investments illustrate our range: for institutional investors. We go to great lengths to provide astute Guidance has worked with ATEL manager selection, an essential element » Navis Capital Partners Funds include Capital Group to develop U.S. A few examples of fixed income products for the future success of the fund. seven funds developed in partnership equipment leasing funds since 2010. created by Guidance Investments Guidance seeks out and works with the with Navis Capital Partners, five of These funds invest in long-lived, illustrate our range: highest-quality, leading international which are Southeast Asia buy-out funds fund sponsors to create and structure and two of which are funds that invest business-critical equipment leased » The Guidance ATEL GCC Leasing to U.S. Fortune 1000 companies. investment programs that are Shariah- in public equities in the same region. Fund, developed by Guidance in compliant, well managed, and suitable In 2013, we launched a similar partnership with ATEL Capital for institutional investors. equipment leasing fund to invest in a Group, is the first of its kind, offering portfolio of high-quality leased assets investors exposure to a diversified located in Saudi Arabia and other Gulf portfolio of long-life, low obsolescence, Cooperation Council (GCC) states. business-essential equipment leased to Saudi Arabian and other Middle East corporations on long-term operating leases. The Fund is an open-ended, fixed income fund offering current yield and capital appreciation. Guidance Financial Group 17

capital markets

Our Capital Markets teams offer Guidance Financial Group embodies a deep understanding of the history, philosophy financial and advisory services to and implementation of Islamic ethical principles, codified as Shariah law, and the practical and religious benefits they provide to all parties in business transactions. This corporations and other entities in institutional knowledge informs and makes possible our highly specialised services. structuring new debt and equity securities as Shariah-compliant and Our Capital Markets team works with clients on a full range of capital markets solutions, including the structuring, arranging and private placement of structured financing marketing them to Islamic institutional facilities, syndications and sukuks (Islamic bonds). We also provide credit rating and and family office investors. debt refinancing services, advisory services, investor relations management, and capital markets solutions for creditors and companies facing distress, insolvency, complex financial issues, and extraordinary risks and opportunities.

Among our Capital Markets accomplishments is the first issuance of an Islamic bond (sukuk) denominated in Malaysian ringgits by a Saudi Arabian company. We served as the financial advisor for the Al Bayan Holding Group of Saudi Arabia and coordinated and managed the entire credit rating process, selection of lead banks and structuring of the sukuk. This transaction is expected to pave the way for other Gulf Region companies to enter the Malaysian Islamic finance market, the world’s largest for Islamic finance debt issuances

Al Bayan is a private company with businesses in supply and trading, information and telecommunications, logistics, construction and real estate, and other industries. Their RM200 million bond is rated AA3 by RAM Ratings and is the first tranche of a planned RM1 billion program.

Guidance Capital Markets (DIFC) Limited is incorporated as a company limited by shares under the laws of the Dubai International Financial Centre and is licensed and regulated by the Dubai Financial Services Authority (“DFSA”). Guidance Capital Markets (DIFC) Limited only deals with Professional Clients and not Retail Clients as defined by the DFSA. Products & Services 19

shariah structuring shariah compliance and placement advisory and monitoring

We offer a broad range of Shariah We continue to monitor the funds All of Guidance Financial Group’s These scholars meet regularly with We go to great lengths to assure that world class shariah Structuring and Placement services throughout their life on behalf of business initiatives and advisory work Guidance management to review all the product and services we offer to supervisory board the investors in order to assure the proposed Guidance plans for new consumers and the investment products to clients who seek to enter or expand for clients proceed in close consultation funds’ continued adherence to Shariah companies and investment programs that we offer to institutional investors Justice (Ret.) Taqi Usmani, their positions in the fast-growing principles. Our proficiency in Islamic with seven highly respected Islamic with regard to their compliance with have been carefully constructed and Chairman global Islamic finance field. finance enables us to create much-needed scholars who constitute our Shariah Shariah law. They also monitor all tested to assure their compliance Country of origin: Pakistan quality investment opportunities for Supervisory Board. Each of these financial products and services managed with Shariah law. These include Our clients are principally conventional Islamic institutional investors in key or advised by Guidance to assure regular periodic and annual review Dr Abdul-Sattar Abu-Ghuddah scholars has served on the Guidance fund managers who seek to offer industry sectors. continued compliance.The ethical of all existing operations, comprehensive Country of origin: Supervisory Board since Guidance’s purpose of Islamic law for business is review of every prospective new initiative high-quality investment funds in our Shaykh Nizam Yaquby Our services have resulted in the launch inception in 2000 and collectively the protection of the rights of all parties during product development, and three targeted asset classes: real estate, of numerous Shariah-compliant Country of origin: Bahrain represent one of the most distinguished to a transaction and the elimination of purification of products or services that fixed income and private equity. We investment funds. and respected bodies advising on possibilities for exploitation by either produce a small percentage of “tainted” Dr Mohamed A. Elgari party. Shariah law seeks to prohibit all revenue (e.g., by interest payments). advise and often partner with the fund We also act as an independent Shariah Country of origin: Saudi Arabia Islamic commercial law. sources of “unjustified” enrichment and managers in creating and structuring advisor to third-party funds operating any transactions that involve speculation Our seven-person board is chaired by Dr Mohd Daud Bakar within the international Islamic finance Shariah-compliant funds that parallel or contain excessive risk. Shariah law Justice (Ret.) Muhammad Taqi Usmani, Country of origin: Malaysia field and monitor them throughout Our Shariah Supervisory Board, together their existing funds. We may also assist additionally exhorts Muslims to observe who is Chairman of the International their lives on behalf of the funds’ with Guidance’s management, tests the principles of trust, equity, balance, Shariah Standard Council of AAOFI, a Shaykh Yusuf Talal DeLorenzo them in placing these funds within investors. An example is our work with the structure of all Guidance investment fairness, and benevolence in all Permanent Member of the Islamic Fiqh Country of origin: United States our broad network of institutional SBI Holdings (SBIH) and the Brunei funds and products and their underlying practices and assets. This close scrutiny business dealings. Academy and a former member of the and family office investors. Ministry of Finance in the development Supreme Court of Pakistan. Dr Muhammad Imran Ashraf Usmani and monitoring of their fund that takes and auditing of all Guidance-affiliated Country of origin: Pakistan minority positions in Asian companies. products provide full confidence to institutional investors, partners and Our products are unique and contribute consumers that their religious beliefs to the ability of institutional investors to have been observed and respected in meet their allocation targets for high every product and service offered quality Islamic investments across key by Guidance. asset classes and geographies. 21

product development

capabilities The global Islamic finance market Guidance Financial Group addresses this problem by mobilising a unique set of is growing at double-digit rates and intellectual and financial capabilities. We marshal expertise in Islamic and conventional finance, information technology, market and country economics, currency and modern finance, timeless values now exceeds US$1 trillion in assets. regulatory environments, political analysis and best-practice business management. We However, Islamic institutional investors are able to create and provide a global range of institutional quality, Shariah-compliant attempting to meet their portfolio alternative investments in the key asset classes of real estate, fixed income, and private allocation targets are faced with a equity, as well as in global primary and secondary housing finance sectors. severely limited range of high quality, Guidance thus helps institutional investors achieve traditional investment objectives of Shariah-compliant investment options balancing risk and reward through diversification of investments by region, market and in key asset categories. asset class, while remaining faithful to their fundamental ethical values and principles. Utilising our global network of strategic partners and broad internal capabilities, we Guidance conceived, developed, structured create principled investment products that meet the precise needs of an individual and raised funds in milestones that include: institutional investor or a wide group of investors. Our ability to provide tailored, Shariah- » The first Shariah-compliant Leasing compliant and high quality investment products in our three focused asset classes and the Income fund based on a diversified housing finance industry is perhaps unique in the international finance field. portfolio of business-essential equipment Sometimes, we act almost as the in-house investment banking arm of an institutional leased to Saudi Arabian and other investor. For example, our clients might specify a desire for a Shariah-compliant, Middle East corporations on long-term institutional quality investment in leasing in Gulf Cooperation Council countries or real operating leases. estate in Southeast Asia countries with growing urban areas. Guidance can work with » The first Shariah-compliant Asian a strategic partner to create a fund that meets our client’s investment parameters, or private equity fund. leverage our management team’s regional and local expertise to purchase and manage » The first Shariah-compliant China real specific assets on behalf of the investor. estate development fund. » The first Shariah-compliant Middle We created the Guidance China Opportunity fund in 2006, working closely with CBRE East and North Africa hospitality fund. Global Investors as our strategic partner, specifically to meet a demand for such a product from our institutional clients. Guidance Financial Group is the Fund Manager Guidance conceived and developed and CBRE the Investment Manager for this targeted China real estate property fund. milestones in capital markets that include: An example of a mixed private equity and real estate investment product is Shaza » The first offshore sukuk issued from Hotels, a new luxury brand of Shariah-compliant hotels that Guidance created in the the Saudi Arabian private sector. Middle East and North Africa in a joint venture with Kempinski Hotels. » The first ringgit sukuk issuance by a Saudi Arabian corporate entity. Guidance also created Guidance Residential, which is now the largest provider of Shariah- » The first rating of a Saudi Arabian compliant consumer and home finance in the United States, and Dar Al Tamleek, corporation by Rating Agency of which has gained the largest market share of residential financing in Saudi Arabia. Malaysia (RAM Ratings). Guidance Investments has been a pioneer in creating cutting-edge, innovative investment solutions in fund and capital markets development. Capabilities 23

strategic partnerships

As a global company that creates Guidance Financial Group and Capital Guidance, our parent company, have developed » ATEL Capital Group: Guidance » CBRE Global Investors: Guidance » Kempinski Hotels & Resorts: high-quality investment and financial strong relationships with strategic and development partners over decades of shared Investments worked with ATEL to Investments developed the Guidance Kempinski Hotels is one of the world’s investment and management, to the benefit of our clients. Examples include: products and services tailored to the develop and fund the Shariah-compliant China Opportunity Fund in 2006 with most prestigious and experienced hotel Guidance ATEL GCC Leasing Fund. CBRE Global Investors (previously ING companies, tracing its history back to strategic goals of Islamic institutional » ATEL Capital Group This open-ended fixed income fund Real Estate Investment Management) 1897. Kempinski owns and operates » CBRE Global Investors investors, we work with and create provides investors with exposure to as an investment product specialising an international portfolio of over 70 unique opportunities in the global » Freddie Mac a diversified portfolio of industrial in residential real estate in China. hotels throughout the world that Islamic finance field for strategic » Kempinski Hotels equipment leased in the Middle East, The fund offers institutional investors reflect the finest traditions of hospitality, with a focus on Saudi Arabia. Guidance an opportunity to capitalise on the winning numerous awards for their partners and investors. We also » Navis Capital Partners also worked with ATEL to create a strong economic and demographic quality and service. We welcomed collaborate with other faiths to advance » Saudi Public Pension Agency series of funds to invest in relatively fundamentals in the Chinese residential Kempinski as operating partner their objectives for the development » SBI Holdings (SBIH) and Brunei Ministry of Finance low-risk, high quality diversified market sparked by a rapidly growing early in the development of our unique of values-based financial products portfolios of equipment leased to middle class, rising incomes, urbanisation, Shaza Hotel luxury brand. Kempinski investment grade U.S. Fortune 1000 and smaller household size. contributes to the management of that are in accord with their beliefs Our attractiveness to leading international firms and institutions is based on our corporate lessees such as General Electric, the Shaza hotels now open and the creativity, expertise, trustworthiness, multicultural staffing and experience, research and principles. Wal-Mart, Exxon Mobil, Cargill and » Freddie Mac: We have worked with portfolio of Shaza hotels to be opened and analysis capability, and deep knowledge of and expertise in Islamic finance. IBM. The leased assets in these funds Freddie Mac for many years as a vital in the future. We bring capital, ideas, innovation, a global network of institutional investors are long-life, low obsolescence, business strategic partner for our U.S. consumer and an ability to execute on ideas. Our strategic partnerships enable us to create essential equipment. finance company, Guidance Residential. fresh, innovative, and relevant high-quality investment opportunities for Freddie Mac is an officially adopted institutional investors. ATEL was founded in 1977 and is now acronym for the Federal Home Loan one of the largest independent, privately- Mortgage Corporation, a U.S. government- Our partners have impressive credentials and have contributed significantly to the held leasing companies in the United sponsored enterprise that purchases growth and success of Guidance Financial Group. States, having leased more than US$2 residential mortgages on the secondary billion of equipment to Fortune 1000 market and pools them into mortgage- companies. ATEL is headquartered in backed securities to sell to investors on San Francisco, California and provides the open market. The company was full-service asset management capabilities. created by the U.S. Congress in 1970 to increase the amount of capital available for mortgages and thereby help stimulate home ownership in the United States. Capabilities 2525

» Navis Capital Partners: Guidance » Saudi Public Pension Agency: » SBI Holdings (SBIH) and the Investments has collaborated with Dar Al Tamleek, the new housing Brunei Ministry of Finance: Guidance Navis Capital Partners nearly since finance company created by Guidance, Investments advises a joint venture Navis’s inception to develop five private works closely with the Saudi Public of SBI Holdings, a Japanese financial equity funds, beginning in 2003 with Pension Agency on a program to services company, and the Brunei a parallel Shariah-compliant buy-out provide housing finance to civilian Ministry of Finance in the development fund investing in companies in Southeast and military public employees in of a Shariah-compliant Private Equity Asia. Similar funds were launched in Saudi Arabia. To accomplish its goals fund chartered to invest in minority 2005, 2007, 2010, and 2013, primarily in the Saudi Public Pension Agency stakes in attractive Asian companies. Southeast Asia. In addition, two funds engaged Dar Al Tamleek as program The fund was launched have been launched focused on public manager and joined other notable in December 2010. equities in the same region. Navis was Saudi investors in becoming a established in 1998 by key consultants shareholder in the company. Dar Al SBIH was established as a financial of Consulting Group who Tamleek serves as a benefit to public services company in Tokyo in 1999. specialised in Asian markets. Over its employees and fosters the growth of SBIH has been expanding its businesses history, Navis has reviewed more than home ownership in the Kingdom. in emerging countries with high 1,500 investment opportunities in Asia potential for growth through the and invested in 37 companies. Navis has launching of joint venture funds with one of the largest teams of investment prominent overseas partners. Through professionals in Asia, with over 75 its relationship with the new fund investment and support staff across management company in Brunei, seven offices in , Hong Kong, Guidance Investments is helping India (Mumbai and Delhi), Malaysia, SBIH to build broader, stronger Singapore and Thailand. Navis has partner and investment networks completed more control buyouts in in the Islamic world. Asia than any of its peers and retains an extensive and loyal backing from local investors. 27

selected biographies

management Guidance Financial Group’s worldwide strategy, has overseen the growth of under her leadership, and a member team brings extensive experience, its organisation and international of the Management Committee and expansion, and has established key Relationship Director of First Islamic principled investments, prudent partners expertise and accomplishment in the strategic partnerships that form the Investment Bank, Bahrain. From fields of economics, finance, investment/ foundation of some of the company’s 1992 to 1994, Dr Hashim was a senior operating business management, Islamic main business lines. Dr Hammour is an portfolio manager with Rashid Hussain finance, research and development and accomplished economist, having served Asset Management, a premier asset as: a member of the economics faculty at management company in Malaysia, pioneering product creation. Columbia University and of the visiting where she had funds under management We draw on the extensive finance faculty at the Massachusetts Institute of US$200 million and where she of Technology; a Director of Research was also actively involved in product experience, management capabilities at the Centre National de la Recherche development, including Islamic equity and financial resources of the 2,000 Scientifique in France; a Research products. Dr Hashim holds a BS in management and operating people Fellow at the Centre for Economic Physics from Surrey University and who are part of our parent company, Policy Research in the ; a PhD in Nuclear Physics from and a consultant to the World Bank. Oxford University. She is also an Capital Guidance. His research has been published in associate of the Institute of Actuaries, leading scholarly journals of economics. Staple Inn, . Guidance Financial Group has a global Dr Hammour holds a BA in Philosophy staff of approximately 75 people with and an MS in Industrial Engineering Kal Elsayed, exceptional experience in Islamic finance, from Stanford University and a PhD CEO, Guidance Residential economics, international finance, and in Economics from the Massachusetts Mr Elsayed, based in Reston, Virginia, investment management. The Group Institute of Technology. is President and CEO of Guidance is headed by Dr Mohamad Hammour, Residential where he has overall Dr Hasnita Hashim, Kal Elsayed, and Dr Hasnita Hashim, responsibility of the management and Tahir Nasseem. Their experience and CEO, Guidance Investments performance of the company. He is a education, along with that of other key Dr Hashim, based in Kuala Lumpur, leading U.S. mortgage industry executive executives, is summarised below. is Head of Product Development and with broad national experience in all Institutional Business with Guidance aspects of the business, including sales Financial Group and CEO of Guidance and operations. He is an accomplished Dr Mohamad L. Hammour, Investments. She has 23 years of financial leader in start-up and high-growth Chairman, Guidance Financial Group management experience in the field of business environments and has extensive asset management, structured finance experience in building motivated teams Dr Hammour is Chairman of Guidance and asset securitisation and is one of to achieve and exceed target objectives. Financial Group and a Managing the pioneers in Islamic investment Mr Elsayed was previously President Director of Capital Guidance where banking. In 1998, she founded IslamiQ, and CEO of HomeView Lending, he has been an executive over the past the world’s first online Islamic finance where he helped start the company and 22 years. Since founding Guidance portal. From 1994 to 1998, she was the build its sales and operating structure. Financial Group in the year 2000, Chief Executive Officer of Commerce Prior to HomeView, he held various Dr Hammour has led the development MGI Sdn Bhd (CMGI), Malaysia, executive positions with New Century and execution of the company’s which successfully closed mandates Mortgage Corp, culminating in the of US$1 billion in Islamic financing position of President of the Wholesale Management 29

Division, where he assumed full managing Asian real estate investments. Yasser Abu Ateek, Mr Shah was previously Assistant General Relais & Chateaux in Carmelo. Previously, Director at Marconi Pacific, a strategy P&L responsibility and grew annual He has over 25 years of real estate CEO, Dar Al Tamleek Manager and Group Head, Credit Mr Valleix worked for Hyatt Hotels and and venture consulting firm, and prior production from US$4 billion to US$46 investment and funds management Mr Abu Ateek, based in Jeddah, Saudi and Marketing for Saudi Orix Leasing Hyatt International from 1978 to 1990, to that, he was a senior manager at billion over a three-year period. experience globally. Previously he was Arabia, is CEO of Dar Al Tamleek, Company managing a portfolio of SAR 2 attaining the position of Area Director. GapGemini. Mr Dodwell holds a BA Founder and Chief Executive Officer where he has had overall responsibility billion. Prior to moving to the Kingdom, During this time, he directed projects in and MA from Cambridge University and Tahir Naseem, of Moonbridge Capital, a strategic for the management and performance Mr Shah spent 13 years with Orix Leasing North American cities including Chicago, an MBA from the Stanford University CEO, Guidance International Finance operating partner for institutional of the company since its inception in Pakistan Ltd. where he held numerous Mexico City, Acapulco, Cancun and Graduate School of Business. Mr Naseem, based in Dubai, is CEO investors seeking exposure to the real 2008. He is a leading Saudi Arabian management positions culminating in New York, and in Nice, Brussels and of Guidance International Finance, estate sector in Greater China. Prior banking and housing finance executive Branch Manager, Islamabad Capital Rabat. He graduated from Glion Institute Patrick Van Surell, responsible for the overall development to launching Moonbridge Capital, with broad national experience in sales, Territory. Mr Shah has an MBA in with several summer courses in Cornell, Director, Institutional Business and Product Development, Guidance Investments and performance of the company. He he was Senior Portfolio Manager and underwriting, risk management and Finance and Marketing from Philippines where he was President of the Alumni has over 15 years of Islamic finance, Co-Head of Real Estate for Asia at business development and has been Christian University, a MA in Political Association for many years and remains Mr Van Surell, based in Kuala Lumpur, capital markets and structured product Abu Dhabi Investment Authority instrumental in the success of Dar Science and International Affairs from as past President. is Director, Institutional Business and development and management (“ADIA”) where he was responsible for Al Tamleek including the company’s University of Peshawar (Pakistan), and Product Development at Guidance experience. Prior to joining Guidance, he managing the group’s existing portfolio strategic partnership with the Kingdom’s a BA in Economics and Political Science James Dodwell, Investments with over 20 years’ was co-founder and CEO of GPH, based of investments and driving the overall Public Pension Agency. Mr Abu Ateek from Edwardes College in Pakistan. Senior Vice President, Capital Guidance experience. Most recently, he was Head in Bahrain. Previously, he was Chief strategic direction of ADIA’s real estate was previously Regional Manager, Mr Dodwell, based in Kuala Lumpur, of Corporate Finance with Shariah- Operating Officer of Saudi Home Loans, investments in Asia. In addition, Mr Western Region at Riyad Bank, one of Phillipe Valeix, is a Senior Vice President at Capital compliant Unicorn Investment Bank the first Shariah-compliant mortgage Ho was a member of the Executive the largest financial institutions in the Managing Director and Head of Asset Guidance with 23 years of experience. (UIB), where he worked for six years Management, Guidance Investments; finance company in Saudi Arabia. Committee, the board responsible for Kingdom, where he was responsible for His responsibilities cover two main on a wide range of investment and Director of Shaza Hotels, Ltd. Earlier Mr Naseem was Senior managing ADIA’s global real estate 68 branches and over 800 employees. areas: corporate/business development in corporate finance assignments. During Mr Valleix, based in , is Managing Director – Islamic Debt Capital portfolio. Before ADIA, he was Chief Mr Abu Ateek has a BA in Business the company’s wholly-owned operating 2010-2011, he was seconded to Riyadh, Director and Head of Asset Management Markets/Mortgage Finance at Unicorn Investment Officer at Citi Property Administration from King Abdul Aziz businesses and overall management Saudi Arabia as Chief Executive Officer for Guidance Investments. and a Director Investment Bank, Bahrain where he Investors Asia and was instrumental University and has completed a 1-year of a portfolio of liquid and alternative of Unicorn Capital Saudi Arabia, the of Shaza Hotels Ltd. As an independent led the structuring, execution and in launching Citi’s Asia real estate executive management program at financial investments. Instrumental investment banking subsidiary of UIB. hotel consultant, he undertook a number placement of several landmark sukuk opportunistic platform and fund, leading California State University and a 3-year in the founding and expansion of Prior to 2005, Mr Van Surell was Vice of projects in France, and issuances for issuers based in KSA. He the team to closing US$1.3 billion in corporate credit and banking program Guidance Investments, where he serves President with Swicorp in Jeddah, Morocco, including developments in has held key positions with the Mortgage equity for transactions across China, sponsored by SAMA. as COO, Mr Dodwell has been involved where he advised GCC and European Bankers Association of America, and Hong Kong, Taiwan, India, Korea, Lisbon for Hyatt and in Marrakech in all aspects of the Group’s Shariah- investors on mergers & acquisitions, has undertaken high profile projects the Philippines and . He has also Waheed Shah, for Banyan Tree. Prior to that, Mr compliant investments and operations in joint-ventures, equity and debt raising, with Freddie Mac and the International previously been Director of Acquisitions CEO, GuidanceATEL Equipment Company Valleix was Vice President of Concorde the financial services, housing finance, restructuring and private equity Finance Corporation (IFC) to develop and Asset Management at LaSalle Mr Shah, based in Riyadh, Saudi International, which owned hotels in real estate, leasing, and private equity investments. Before moving to the mortgage finance in the U.S. and Investment Management, Senior Vice Arabia, is CEO of GuidanceATEL Saudi Arabia, Morocco, the United investment sectors. In addition, he Gulf, he was Vice President Mergers & emerging markets. Mr Taseem holds President at Starwood Capital Group, Equipment Company where he has States, , Chile, Uruguay and manages the Group’s portfolio of over Acquisition at JP Morgan in London, a Juris Doctorate (Law) from DePaul and Manager of Business Development overall responsibility for the management France. With Concorde, he participated 50 funds in the equity, fixed income, UK, where he initiated and closed University in the United States. and Projects at Pacific Century Regional and performance of the company, a joint actively in the development of properties credit and private equity markets numerous M&A and equity transactions. Developments. Mr Ho holds an MBA venture between Guidance Investments such as the Park Hyatt in Buenos Aires throughout the U.S., Europe and Asia. Prior to this he worked as a corporate Pius Ho, from the University of Ottawa’s and ATEL Capital Group. Mr Shah is a (now Four Seasons), the Hyatt Regency He also oversees all back office functions finance professional at Credit Agricole Managing Director, Guidance Investments Graduate School of Business and a leading Saudi Arabian leasing and asset Santiago, a Relais & Chateaux in Carmelo including risk monitoring, currency Indosuez, Credit Suisse First Boston and Mr Ho is Managing Director, Asian Bachelors of Commerce in Urban Land financing executive with broad national (now Four Seasons) and the Hyatt hedging, portfolio rebalancing, cash flow Barclays de Zoete Wedd. Mr Van Surell Real Estate for Guidance Investments, Economics from the University of experience in sales, underwriting, risk Regency Paris Madeleine. He oversaw budgeting and reporting. In 1996, he started his career as a corporate lawyer where he has overall responsibility for British Colombia. management and business development. all the group’s hotel assets including a was a founding member and Managing with Berlioz & Co in 1991, first in Paris, franchisee Radisson in Orlando and the France then in London, UK. He has Management 31

a MA in Corporate & Tax Law and the UK. He has a BSc Econ, Banking and of Ginnie Mae, a wholly owned US a BA in Corporate Law both from Finance from the University of Wales government corporation, from July 1996 University Pantheon Sorbonne, College Cardiff, and a MBA in General to October 2004. In recent years, Mr Paris, France. Management from the Rotterdam Anderson has been called upon to advise School of Management, Erasmus numerous foreign governments in Africa, Paris, France Pankaj Singh, University, Netherlands. Asia, Central and South America, seeking Geneva, Switzerland Director of Finance and Administration, to develop their primary and secondary Reston, United States Guidance Investments Sanwal Qureshi, mortgage markets. From 1971 to 1979, , Mr Singh, based in Kuala Lumpur, is Director, Guidance Capital Markets Mr Anderson was a Financial Analyst for Dubai, UAE Director of Finance & Administration Mr Qureshi, based in Dubai, is the New Communities Administration Riyadh, Saudi Arabia* at Guidance Investments with over Director of Guidance Capital Markets, in the U.S. Department of Housing 21 years’ experience. Previously he responsible for arranging and issuance of and Urban Development, responsible Bangkok, Thailand was Finance Director at a prominent Shariah-compliant debt capital markets for underwriting applications for loan Kuala Lumpur, Malaysia Middle-Eastern based family office, with transactions. Previously he was the Head guaranties up to US$50 million for financial management responsibility for a of Securitisation/Structured Finance large-scale, mixed-use land development Jakarta, Indonesia diversified portfolio of international real at Noor Islamic Bank and has been projects. Mr Anderson is a Year estate investments including governance responsible for originating, structuring 2000 recipient of the Presidential oversight at board level, strategic and executing over US$10 billion of debt Distinguished Rank Award, the highest financial planning, financial turnarounds, capital markets transactions. He led the award given to members of the Senior and treasury management. Prior to that, structuring, execution and placement of Executive Service. He holds a BA in Mr Singh was Vice President Finance at the first, rated, multi-tranched receivable- business from Loyola University of Kingdom Hotel Investments in Dubai, backed sukuk from the GCC, in addition Chicago, an MBA in Finance from where he managed a finance division to various plain vanilla sukuks and the University of Chicago; and was a covering 23 countries in Asia, Africa, structured bank deals. Mr Qureshi is an PhD candidate in Management Science and Middle East. Before moving to expert in real estate advisory, structured (economics & finance) at the University The Gulf, Mr Singh held positions of finance structuring, securitisation and of California, Los Angeles. increasing responsibility at Ford Motor capital raising in GCC, as well as other Company EMEA based in the UK, with international markets. He also held debt assignments in Strategic Planning, M&A, capital markets-related positions at Arab Manufacturing Controller’s Office, and as National Bank (KSA), Banc of America Manager Financial Planning and Analysis Securities and Wachovia Securities (U.S.). Guidance Capital Markets (DIFC) (EMEA). During this period Mr Singh’s He holds a BSc from James Madison Limited is incorporated as a company Established presence in major financial management, governance, University in the United States. limited by shares under the laws of the cities of Islamic finance and process/ systems implementation Dubai International Financial Centre and developed markets expertise was developed across business George Anderson, and is licensed and regulated by the Dubai units with combined revenues in excess Vice President and Head of Structured Financial Services Authority (“DFSA”). * Representative Office of US$30bn, operations spread across 21 Finance, Guidance Financial Group Guidance Capital Markets (DIFC) Limited countries, 14 manufacturing plants, and 2 Mr Anderson is Head of Structured only deals with Professional Clients and not research and development centres. Prior Finance, Guidance Financial Group, Retail Clients as defined by the DFSA. to this he worked as a finance professional and has over 30 years of professional at Chrysler Automotive EMEA in experience in the mortgage finance sector. and the U.S. and as an analyst at Mr Anderson served as the Executive Proton Cars Europe in Malaysia and in Vice President, Chief Operating Officer contact information by office location capital guidance

Geneva, Switzerland Riyadh, Kingdom of Saudi Arabia Dubai, UAE Capital Guidance currently employs Capital Guidance has developed extensive skills in research, analysis, investment 23 rue Ferdinand-Hodler, Representative Office Guidance Capital Markets (DIFC) Ltd. approximately 2,000 people in group management, risk management and investment operations over its long history. Its P.O. Box 6245, 1211 Geneva 6, Abraje Al-Olaya (Gosi Towers) Tower B, strategic investments are made with the intention of creating lasting value through Office 46, Level 15, operations in the United States, Switzerland Riyadh, Saudi Arabia progressive growth over time. The Gate, DIFC, Asia, Europe, and the Middle East. t + (41) 22 736 7666 t + 966 1 279 2265 P.O. Box 117013, Thirty-five investment professionals Through Capital Guidance Real Estate, the group has participated in the U.S. real f + (41) 22 736 7668 Dubai, UAE estate market for more than 25 years, with transaction values totaling US$5 billion are based in offices in Washington DC, Kuala Lumpur, Malaysia t + 971 4 401 9283 in office, residential, land development, mixed use and retail sectors. Paris, France Suite 19-09, Level 19, GTower, Paris, Geneva, Beirut and Riyadh. Washington Plaza, Artois Building, 199 Jalan Tun Razak, For more information: Its primary vehicle today is Madison Marquette, a retail development and property 44 rue Washington, 75008 Paris, France 50400 Kuala Lumpur, Malaysia visit: www.guidancefinancial.com Guidance Financial Group’s investment management specialist whose experience encompasses the development and ownership of more than 80 U.S. retail, residential, and mixed-use projects including The Wharf, t + (33) 1 53 93 75 75 t + 60 (0)3 – 2858 3000 and operating management teams work a new, US$1.5 billion signature waterfront development in Washington DC. f + (33) 1 53 93 75 70 f + 60 (0)3 – 2858 3001 closely with our parent corporation’s staff and draw continually on their Capital Guidance also advises and manages two trading and distribution companies

Reston, Virginia Bangkok, Thailand deep resources in finance, management operating in the Middle East and North Africa. The first, formed in 1967, is the Guidance Residential, L.L.C. Suite 2915, Level 29, largest distributor of high-quality tiles, luxury bathroom suites, plumbing fixtures and and networking to develop our unique U.S. Residential Mortgages The Offices at Centralworld, tableware in the Middle East and North Africa region, with 560 employees across 35 Islamic finance products and services. 11107 Sunset Hills Road, Suite 200 9999 /9 Rama 1 Road, branches. The second is a leading manufacturer, marketer and distributor of chemicals Reston, Virginia 20190, United States Pathumwan, Bangkok 10330, Thailand and industrial supplies and services. The company employs 1700 professionals — including 300 engineers, scientists and technicians — and operates in 30 countries. t + (33) 1 53 93 75 75 t + (66) 2270 9211 f + (33) 1 53 93 75 70 Capital Guidance also manages its own broadly diversified portfolio of investments Jakarta, Indonesia in marketable securities and private equity funds in the U.S., Europe and Asia. Its Beirut, Lebanon Sovereign Plaza, 21st Floor, investment managers include such firms as Bain Capital, Navis Capital Partners, Stratum Building, 8th Floor, Jl. TB Simatupang Kav. 36, PIMCO, LSV and Baring Private Equity Asia. Daouk , Jakarta 12130, Indonesia Beirut Central District, Lebanon t + (62) 21 2939 8899 t + (961) 1 373 555 f + (62) 21 2939 8811 f + (961) 1 379 210

Guidance Capital Markets (DIFC) Limited is incorporated as a company limited by shares under the laws of the Dubai International Financial Centre and is licensed and regulated by the Dubai Financial Services Authority (“DFSA”). Guidance Capital Markets (DIFC) Limited only deals with Professional Clients and not Retail Clients as defined by the DFSA. 082615 www.guidancefinancial.com