PPP Wealth Machine: UK and Global trends in trading project ownership Appendix 5 Global PPP equity transactions 1998-2012* Owner Asset No Sold to % Price Profit Source of share paid /loss PPP stake m sold Republic of Ireland 2010 €m National Toll East Link Toll Bridge, 2 Dutch Infrastructure n/a 50.0 n/a NTR Press Roads Limited Dublin Fund ll 30/09/2010 (NTR plc) Dundalk Western n/a bypass National Toll North-Link (Dundalk), 3 Egis Projects n/a n/a n/a NTR Press Roads Limited South-Link (Waterford) (France) 30/09/2010 (NTR plc) Mid-Link (Portlaoise) 2007 1/2007 Hochtief Cork School of Music 1 Hochtief joint 49.0 n/a n/a Hochtief AR 2007 PPP Schools venture with PFI p31 Capital Ltd Infrastructure PFI Infrastructure Company Co. RNS 18/01/2007 PFI Infrastructure Co. Interim 07/03/2007 National Toll West-Link Toll 1 Government’s 100.0 488.0 n/a NTR Press Roads (NTR plc) National Roads 06/06/2007 Authority 2006 Jarvis plc Grouped Schools Pilot 1 Secondary Market n/a n/a n/a SMIF.com PPP Project Infrastructure Fund accessed and Barclays Bank 08/06/2006 2/5/2006 Cork Maritime College 1 Lend Lease joint 50/50 n/a n/a Lend Lease Lend Lease venture with Bank of equali Corporation Press Corporation & Scotland sation 04/05/2006 Bank of Scotland of Lend Lease equity Corporation AR in 2006 p26 project n/a 5 schools 1 Hochtief PPP 50.0 n/a n/a Hochtief AR 2006 Solutions p24 Continental Europe 2012 €m Skanska Finland: E18 highway 1 50%/50% between n/a 19.0 n/a Skanska Press – Muuria to Skanska pension 30/11/2012 Lohjanharju fund: Trean Allmanna Pensionsstiftelse and Skanska Norway pension trust John Laing Netherlands: 1 John Laing 40.0 24.2 n/a JLIF Press Kromhout Barracks Infrastructure Fund 11/10/2012 ACS Group Spain: M-511 and M- 1 GlobalVia 33.3 n/a n/a GlobalVia Press 502 in Madrid region (now 30/10/2012 (Ruta de los has Pantanos) 100.0) Atlantia Italy: Autostrada 1 Sias Group 99.98 223.0 n/a INFRAPPP Torino-Savona 01/10/2012 Atlantia Press 28/09/2012 Skanska Norway: Soreide 1 Oslo 100.0 29.7 n/a Skanska Press School, Bergen Pensjonsforsikring 21/09/2012 AS Sacyr Spain: Autovia del 1 Marguerite Fund 45.0 24.5 n/a INFRAPPP Vallehermoso Arlanzon, A-! 04/07/2012 Motorway Infrastructure Investor 04/07/2012 Burgers Ergon Netherlands: Dutch 1 DIF Inc n/a n/a Infrastructure Ministry of Finance stake Investor project to 94.0 27/04/2012 Bilfinger Berger Germany: Unna 1 Bilfinger Berger 90.0 n/a n/a Bilfinger Berger Administration Centre Infrastructure Fund RNS 3299A, 29 PPP Wealth Machine: UK and Global trends in trading project ownership March 2012 Bilfinger Berger Germany: Burg Prison 1 Bilfinger Berger 90.0 n/a n/a Bilfinger Berger Infrastructure Fund RNS 3877N, 28/09/2012 Plexy Ltd Russia: M10 Moscow- 1 Mostotrest (Marc 50.0 193.0 n/a INFRAPPP Saint Petersburg toll O’Polo Investments 15/11/2012 highway – North-West (38.6%) CEE Bankwatch Concession Company Transfingroup Asset 2011 (see (Vinci has remaining Management references) 50.0%) (27.1%) 2011 n/a Netherlands: HSL 1 HICL Infrastructure 5.5 11.6 n/a HICL RNS Zuid – High Speed Company 15/03/2011 Rail PPP project. Atlantia S.p.A. Italy: Strada dei 1 Toto S.p.A. 60.0 89.0 n/a Atlantia Press Parchi S.p.A – A24 03/01/2011 & Rome–Teramo and 30/05/2011 A25 Torano-Pecara EIFFAGE France: Prisons in 4 DG Infra Yield 80.1 n/a n/a DG Infra News Roanne, Lyon, Nancy (GMIV and Dexia) 13/12/2011 and Beziers, Ballast Nedham Netherlands: 3 Benelux Secondary n/a n/a n/a DG Infra Yield Kromhout Barracks, PPP Fund 1 (DG News12/09/2011 Utrecht Infra Yield 80% and DUO2 offices for Ballast Nedham Ballast Nedham Information 20%) News 12/09/2011 management Dutch Tax Administration, Groningen and buildings for several government departments Struckton Netherlands 6 Dutch Infrastructure 30.0 n/a n/a Struckton News (Oranjewoud Kromhout Barracks in Fund (transfer of 27/10/2011 N.V.) Utrecht 80% of Struckton’s Regional Tax Office in holdings) 30.0 Groningen Montaigne Lyceum in 44.9 The Hague Ministry of Finance 5.0 DIF News office, The Hague 12/12/2011 Harnaschpolder- 5.0 Houtrust wastewater purification system in Den Hoom and Scheveningen Maasvlakte-Vaanplein 24.0 section of A15 motorway Municipalities of Italy: Autostrada 1 Fondi Italiani per le 7.4 64.8 n/a F2i News Padua and Brescia Verona infrastrutte (F2i) 17/11/2011 Vicenza Vicenza Padova SpA BAM No details of 3 3 PGGM/BAM joint €45.0 10.0 n/a BAM/PGGM Press projects (EU) venture 80/20 08/12/2011 interest Atlantia S.p.A. Italy: Autostrada 1 Banca Monte Paschi 69.1 67.7 50.0 Atlantia Press Tirrenica di Siena, Holcoa 28/11/2011 SpA, Vianco SpA & Autostrada Ligure Toscana SpA 2010 Atlantia S.p.A. Portgual: A8 1 Lena SGPS and 25.0 26.1 n/a Atlantia Press Autoestradas do Lena Engehharia e 28/02/2010 Oeste SA Costrucoes SA Skanska Norway: 1 Skanska Tean 50.0 18.1 10.7 Project Finance, Orkdalsvegen E39 Allman March 2010 PPP road, Pensionsstiftelse Skanska Press 25/02/2010 Banesto bank Spain: Soller Tunnel, 1 Globalvia 32.7 n/a n/a Globalvia Press Palma-Soller, Majorca 16/09/2011 Funds managed France: Autoroutes 1 Effiage and 13.7 854.0 n/a Infrastructure by Eliot Paris-Rhin-Rhone Macquarie Atlas Investor Management (APPR) Roads JVC 17/06/2010 Corp & Sandell _______________________________________________ 2 ______________________________________________ PPP Wealth Machine: UK and Global trends in trading project ownership Asset Management Cintra (Spain) Spain: Autopista 1 Albertis and 50.0 67.0 n/a Cintra Press Trados 45, M-45 Finavias (AXA 21/07/2010 highway, Madrid Private Equity) Global Via, Caja Spain: Autovia del 1 RREEF (Deutsche 80.0 n/a n/a Infrastructure Navarra and nEC Camino Bank) Investor 21/07/2010 Sacyr Spain: 2 shadow toll 4 Eiser Infrastructure 49.0 61.0 n/a Sacyr RNS Vallehermoso roads & 2 fund 13/05/2010 interchanges Autovia del Noroeste (Aunor) Autovia del Turia 49.0 Moncloa (Itemosa) n/a Infra News Plaza Eliptica n/a 18/05/2010 BAM Deutschland Germany: Pforzheim 1 International Public 97.0 1.0 n/a INPP RNS AG Schools PPP Partnerships (now 14/05/2010 has 98%) John Laing Group Finland: E18 road 1 John Laing 100.0 19.1 n/a JLIF News Infrastructure Fund 21/12/2010 2009 Bovis Lend Lease Italy: Brescia Hospital 1 International Public 13.0 1.0 n/a INPP RNS Corporation Partnerships (now 31/07/2009 37%) Babcock Brown Belgium: Diabolo rail 1 International Public 10.0 3.0 n/a INPP RNS project, Brussels, Partnerships (now 13/10/2009 75.0) Citi Infrastructure Spain: Toll road AP- 1 Albertis 50.0 n/a n/a Albertis Press 68 Zaragoza-Bilbao Infraestructuras SA 26/06/2009 Citi infrastructure Portugal: 4 Atlantia S.p.A. n/a n/a n/a Sacyr Press Autoestradas do 01/12/2008 Atlantico (A-8 Sur, A-8 Norte, A-15) Via Litoral (ER-101) Puente Vasco do Gama Puente 25 de Abril Itinere Spain: Autopista 9 Sacyr Vallehermoso 40.0 478.3 n/a Sacyr Press Infraestructuras Madrid Levante (AP- (part of sale 01/12/2008 SA 36 agreement with Citi Autopista Madrid Sur Infrastructure) 35.0 (R-4) Madrid access (R-3) 25.0 and R-5) Madrid access (R-5) 25.0 Aunor (C-415) 100.0 Viastor (AS-2) 70.0 Pamasa (C-715) 35.0 Turia (CV-35) 89.0 Eresma (CL-601) 73.0 2008 Sacyr Itinere Infraestructuras 30 Citi Infrastructure 51.7 7,887.0 n/a Citi Alt Invest Vallehermoso SA. Includes projects 01/12/2008 in Spain, Portugal, Sacyr Press Ireland, Chile and 01/12/2008 Brazil Itinere AR 2009 p7-10 Macquarie Portugal: Lusoponte, 1 Mota-Engil 30.6 112.0 (15% Macquarie RNS Infrastructure two toll bridges in Concessoes de IRR) 30/09/2008 Group Lisbon Transporte (Mota) and Vinci Acciona Spain: Concesiones 5 Globalvia (FCC 33.3 101.3 n/a Acciona Press Infrastructure de Madrid SA, M45 Construccion and 02/09/2008 bypass Corporacion and Ruta de ls Pantanos Bankia joint venture 25.0 SA toll road Brunete- M40 Transportes 12.18 Ferroviarios de Madrid Metro line 9 Vicalvaro- Arganda Tranvia de Paria light 42.5 _______________________________________________ 3 ______________________________________________ PPP Wealth Machine: UK and Global trends in trading project ownership rail, Madrid Tunel D’Envalira, 40.0 Spain-Andorra Atlantia S.p.A Italy: A22 Brenner- 2 Compagnia di 5.51 80.0 18.3 Atlantia Press Modena Investimenti e 2008 Financial Autovie Venete - A4 Sviluppo SpA 4.29 Statement Venice-Trieste, A23 Palmanova-Udine South, and A28 Portogruaro- Pordenone- Conegliano Babcock & Brown Italy: Bresica Hospital 2 Babcock & Brown 24.0 n/a n/a BBPP RNS 2530T Belgium: Diabolo Rail Public Partnerships 27.5 28/04/2008 Link 2007 Atlantia S.p.A Italy: Brescia-Milan: 2 Intesa Sanpaolo 35.5 41.0 4.6 Atlantia Press Autostrade Lombarde S.p.A. 02/04/2007 Societa di Prgetto 1.0 Bre.Be.Mi. S.p.A. 2006 HSBC Netherlands: HSL 1 HSBC Infrastructure 24.5 n/a n/a HICL Prospectus Zuid high speed rail Company Limited 2006 link (HICL) flotation HICL AR 2007 2005 Groupo Spain: Autopistas del 4 Itinere 20.0 n/a n/a http://www.grupoiti Santander Atlantico (Audasa) nere.com Autopista Astur (accessed Leonesa (Aucalsa) 20/10/2012) Autoestradas de Galicia Autopistas de Navarra (Audenasa) 2004 Skanska and Poland: A1 Motorway 1 John Laing plc 30.0 11.5 n/a Laing News Intertoll 03/12/2004 2003 Mowlem Sweden: Arlanda 1 Macquarie 7.0 n/a 2.8 Mowlem AR 2003 Construction (7%) Express Infrastructure Group loss Vattenfall (20%) , Sweden: Arlanda 1 Macquarie 93.0 n/a n/a Sward 2008 (see Alstom (29%), Express Infrastructure Group references) NCC (44%) Canada 2012 C$m Bilfinger Berger Golden Ears Bridge 3 Bilfinger Berger 50.0 48.7 n/a Bilfinger Berger Project Kicking Horse Canyon Global Infrastructure 50.0 Global Infra RNS Infrastructure Highway 9947W 08/02/2012 North