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Investor Presentation Second Quarter 2016 Disclaimer INVESTOR PRESENTATION SECOND QUARTER 2016 DISCLAIMER This material is being furnished to you solely for your information on a confidential whatsoever (in negligence or otherwise) for any loss howsoever arising from any use basis and may not be reproduced, redistributed or passed on, in whole or in part, to of this material or otherwise arising in connection with this material. This document any other person. The information contained in this material is subject to changes is for information purposes only and is neither an advertisement nor a prospectus. without notice and past performance is not indicative of future results. In the United Kingdom this material is only being distributed to, and is only directed This presentation may contain certain “forward-looking statements” relating to GB at (a) investment professionals falling within Article 19(5) of the Financial Services Auto S.A.E. (the “Company”). These may be identified in part through the use of and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the “Financial forward-looking terminology such as “will,” “planned,” “expectations” and “forecast” Promotion Order”) and (b) high net worth companies and other persons falling within as well as similar explanations or qualifiers and by discussions of strategy, plans or Article 49(2)(a) to (d) of the Financial Promotion Order (all such persons together intentions. These statements may include descriptions of investments planned or being referred to as “relevant persons”). Any person in the United Kingdom that is currently under consideration or development by the Company and the anticipated not a relevant person must not act or rely on this material. Any investment or impact of these investments. Any such statements reflect the current views of the investment activity to which this material relates is available in the United Kingdom Company with respect to future events and are subject to certain risks, uncertainties only to relevant persons, and will be engaged in only with such persons. and assumptions. Many factors could cause the actual results, performance, decisions or achievements of the Company to be materially different from any future Neither this document nor any copy thereof may be taken or transmitted or results that may be expressed or implied by such forward-looking statements. Such distributed, directly or indirectly, into the United States or to a U.S. Person (as forward-looking statements speak only as of the date on which they are made. The defined in Rule 902 of Regulation S under the U.S. Securities Act of 1933, as amended Company does not undertake any obligation to update or revise any forward-looking (the “Securities Act”)), other than to qualified institutional buyers as defined in Rule statement, whether as a result of new information, future events or otherwise. 144A under the Securities Act. The distribution of this document in other jurisdictions may be restricted by law and persons into whose possession this This material is presented solely for information purposes and is not to be construed document comes should inform themselves about, and observe, any such restriction. as a solicitation, inducement or an offer to buy, subscribe for or sell any securities or Any failure to comply with these restrictions may constitute a violation of the laws of related financial instruments and should not be treated as giving investment, legal, any such other jurisdiction. accounting, regulatory, taxation, or other advice. It has no regard to the specific investment objectives, financial situation or particular needs of any recipient. No By attending this presentation, you are agreeing to be bound by the foregoing representation or warranty, either express or implied, is provided in relation to the limitations. Any failure to comply with these restrictions may constitute a violation of accuracy, completeness or reliability of the information contained herein. None of applicable securities laws. the Company, its affiliates, advisers or representatives shall have any liability INVESTOR PRESENTATION | SECOND QUARTER 2016 2 OUTLINE 04 Company Overview 11 Our Lines of Business 23 Consolidated Financial Performance 28 Key Corporate and Shareholder Information I. COMPANY OVERVIEW GB Auto is a leading regional automotive player with diverse operations that span the value chain from manufacturing and assembly to sales and financing... ASSEMBLY MANUFACTURING SALES AND DISTRIBUTION FINANCING AFTER-SALES SERVICES Passenger car Completely Bus body manufacturing Passenger Cars in Egypt, - GB Capital oversees Passenger Cars Knocked Down (CKD) Iraq, and Algeria operations at the Group’s assembly Trailers and super 5 non-bank financial Commercial Vehicles structures CV&CE in Egypt service providers: GB Motorcycles and Three- Lease, Mashroey, Drive, Motorcycles and Three- Wheelers Semi-Knocked Motorcycles and Three- Haram, and the newly- Wheelers Down (SKD) assembly Wheelers in Egypt and launched Tasaheel Iraq - Lending is based on strict credit policies Tires in Egypt, Iraq, Asset quality and Jordan, Algeria collections are closely monitored, well- maintained and controlled within each company, and results normally match or exceed industry norms INVESTOR PRESENTATION | SECOND QUARTER 2016 5 ...with the company’s operations spread across seven primary lines of business* Commercial Vehicles Egypt Motorcycles & Financing Egypt Passenger Cars & Construction Egypt Tires Egypt After-Sales Regional Three-Wheelers Businesses Equipment 52.7% 11.3% 7.2% 3.1% 11.2% 4.8% 8.8% 2Q16 Group Revenue 2Q16 Group Revenue 2Q16 Group Revenue 2Q16 Group Revenue 2Q16 Group Revenue 2Q16 Group Revenue 2Q16 Group Revenue Contribution Contribution Contribution Contribution Contribution Contribution Contribution 5-Year CAGR 20.3% 5-Year CAGR 16.3% 5-Year CAGR 24.1% 5-Year CAGR 14.8% 5-Year CAGR 52.6% 5-Year CAGR 19.7% 5-Year CAGR -16.5% 47.6% 9.6% 7.5% 4.3% 16.0% 10.4% 3.8% 2Q16 Gross Profit Margin 2Q16 Gross Profit Margin 2Q16 Gross Profit Margin 2Q16 Gross Profit Margin 2Q16 Gross Profit Margin 2Q16 Gross Profit Margin 2Q16 Gross Profit Margin 13.0% 12.2% 15.0% 19.8% 20.6% 31.2% 6.2% Assembly and distribution of Distribution of motorcycles Assembly and distribution of Distribution of passenger car, GB Auto’s Financing After-Sales service and Distribution of imported imported completely- and three-wheelers trucks van, truck, construction Businesses offer financing in distribution of spare parts for completely-built-up (CBU) knocked-down (CKD) kits equipment and bus tires all segments of the market passenger cars, motorcycles passenger car units in Iraq with a production capacity of Financing options provided Bus-body manufacturing; GB Lease caters to and three-wheelers, and (Hyundai) and Algeria (Geely around 50,000 units per year through Mashroey distribution of buses commercial vehicle and commercial vehicles Emgrand) for the Egyptian market corporate lease clients Manufacturing and Mashroey finances the The largest cross-country Distribution of Bajaj Distribution of imported distribution of purchase of motorcycles, network of its kind Motorcycles & Three- completely-built-up (CBU) superstructures and trailers three-wheeler, YTO tractors Wheelers in Iraq, in addition vehicles across footprint and motor tricycles Constant and ongoing to after-sales services Distribution of construction Drive offers consumer expansion of network and Financing options provided and farming equipment financing of passenger cars service center capacities Distribution of Westlake, through Drive in Egypt and factoring of auto and Diamond Back, and Jumbo non-auto products tires in Iraq; Avon, Diamond HTT provides operational Back, Triangle, and Jumbo in leasing Jordan; and Goodyear, Lassa, Tasaheel focuses mainly on and Grandstone in Algeria group microfinance lending to women *To allow for more clarity as GB Auto’s business evolves, Management opted to review its method of business line reporting, by a) Separating its Egyptian operations from regional ones; and b) Separating After-Sales activities, reporting each of them as a standalone LOB. **GB Auto has one secondary line of business, Others, which consists of lubricants, pre-owned vehicles and retail. INVESTOR PRESENTATION | SECOND QUARTER 2016 6 ...and an established regional footprint, with a strong portfolio of top global brands... IRAQ Passenger Cars Tires JORDAN Motorcycles Tires & Three- Wheelers EGYPT ALGERIA Passenger Cars Passenger Cars Commercial Vehicles & Construction Equipment Motorcycles & Tires Three-Wheelers Tires Financing Businesses * Although GB Auto had expanded into Libya in 2Q13, conditions in the country grew gradually more volatile and management has taken steps to exit the market and fully Others liquidate its inventory. INVESTOR PRESENTATION | SECOND QUARTER 2016 7 ...leading to consistently strong results in key performance indicators. 2Q Five-Year Progression of Key Indicators (all figures in LE million) Revenues Gross Profit 567.3 3,928.8 398.0 3,081.5 3,205.2 389.1 2,177.8 2,167.7 259.6 260.0 2Q12 2Q13 2Q14 2Q15 2Q16 2Q12 2Q13 2Q14 2Q15 2Q16 EBIT Net Income 311.1 124.4 217.5 165.2 157.6 58.3 124.9 50.3 39.9 16.1 2Q12 2Q13 2Q14 2Q15 2Q16 2Q12 2Q13 2Q14 2Q15 2Q16 INVESTOR PRESENTATION | SECOND QUARTER 2016 8 With strong key regional growth drivers, the MENA automotive market offers significant opportunity... Significant GDP Rapidly Forming Growth Middle Class Strategic Low Motorization Location Index Large, Fast-Growing Availability of Consumer
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