HOME OVERVIEW MANAGEMENT INVESTORS INVESTMENTS NEWS CONTACT GOVERNANCE Governance The Investors Board defines the strategy and monitors the management of InfraMed Infrastructure. The Manager, supported by two local investment advisors, is charged with the management and execution of the investment policy. The Manager InfraMed Management employs the management team and administers InfraMed Infrastructure. As such, the Manager is responsible for the day-to-day operations including: investments, origination, due diligence, appraisal, structuring and execution. The Manager oversees the investments and reports to the investors. The Investment Committee The Investment Committee is composed of four members: Three independent members, selected by the Investors Board: Andy Friend, Renato Ravanelli and Dipesh Shah; The CEO of InfraMed Management: Frederic Ottavy. The independent members have been chosen for their individual expertise, experience and knowledge of investments in infrastructure and of the region. They are independent from the sponsors and from InfraMed Management. Decisions are made in a fully independent manner on the basis of the specific merits of each investment opportunities respecting the target returns of InfraMed. The Investors Board The management and administration is under the purview of the Investors Board, which is composed of seven representatives of the Investors: two members from Cassa Depositi e Prestiti, two from Caisse des Dépôts et de Consignations, one from the European Investment Bank, one from Caisse de Dépôts et de Gestion, and one from EFG-Hermes. Investors Board members are appointed for three years and can be re-appointed. The Investors Board appoints a Chairman among the Investors Board members for a renewable period of three years. © 2015 InfraMed. All rights Reserved. | Disclaimer | Design: Playmoweb

HOME OVERVIEW MANAGEMENT INVESTORS INVESTMENTS NEWS CONTACT THE EGYPTIAN REFINING COMPANY The Egyptian Refining Company Transaction Description ERC www.ercegypt.com is a 4.7 million tonne (c. 88,000 barrels per day) high technology refinery facility that converts heavy fuel oil known as Atmospheric Residue into light distillate products, predominantly diesel. ERC’s investment cost is $4.8bn. InfraMed invested $100m equity in the project. Other key co-investors include Qalaa Holdings, Qatar Petroleum International, the IFC of the World Bank group, German DEG and Dutch FMO. The facility is fully operational since September 2019. Investment Rationale Egypt is a diesel-thirsty market with a growing demand. Despite local oil production, with aging refineries, the country is a net importer of diesel. ERC’s technical and competitive advantages contribute to address this significant market need. Its output allows for a c. 30-40% reduction of the imports, translating into a $600-$1,000m reduction of Egypt’s annual import bill. By using modern technologies, ERC also helps substantially lower Egypt’s carbon and sulfur dioxide emissions. © 2015 InfraMed. All rights Reserved. | Disclaimer | Design: Playmoweb