March 2016

FY 2015 Results

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FY 2015 Highlights Page 3

Financial review Page 5

Business segments Page 11

Outlook 2016 Page 18

Agenda

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Key Highlights from OHD FY 2015

Doubled the net profits of last year, reaching EGP 228.9 million vs. EGP 100.0 million in FY 14, and an EBITDA of EGP610.4 million in FY 15 vs EGP 562.1 million in FY 14.

Hotels

Real Estate & Construction

Achieved the Real Estate net sales target of the year, reaching EGP 588.2 mn (USD 75.3 mn), 72.9% increasefrom FY 2014 which reached EGP 340.1 mn (USD 44.0 mn).

Launched 4 new diversified projects in El Gouna, with a total inventory of USD 93.4 mn. Attracting a largerpool of cliental.

Accelerated construction activities, planning deliveries ahead of schedule, allowing for earlier revenuerecognition and cash collection of the 10% client delivery payment.

Segment’s revenues closed the year positively growing from EGP 542.9 million to EGP 576.0 million, withaverage occupancy rate reaching 54% vs 48% in FY 2014.

Q4 2015 results were impacted post the Russian plane crash in Sinai Peninsula, especially in Makadi,whereby we shut down two hotels.

Took actions to stop the bleeding of Taba. Whereby we shut down 5 out of the 6 hotels.

Land Sales Signed two new sub-development agreements with Hassan Allam Properties Company and Diwan Al Omr For

Touristic Investment Company to sub-develop 110,196 m2 of land in El Gouna for a total value of USD 22.0million.

Debt Ongoing negotiations with the banks to capitalize on CBE’s initiative and push back the grace period to 3 years.

Corporate Change in Executive Management, Khaled Bichara taking over as CEO, Dr. Manal remains as Chairwoman.

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FY 2015 Highlights Page 3

Financial review Page 5

Business segments Page 11

Outlook 2016 Page 18

Agenda

5

Income Statement

(EGP mn) FY 2015 FY 2014

Revenue 1,772.6 1,434.6

Cost of sales (1,201.0) (1,197.8)

Gross profit 571.6 236.8

Gross profit margin 32.2% 16.5%

Investment income 70.4 28.6

Other gains and losses (104.9) 225.7

Administrative expenses (62.5) (69.2)

Finance costs (225.2) (242.1)

Share of gains / (losses) of associates

(17.2) (2.8)

Profit / (loss) before tax 232.2 177.0

Income tax expense (26.1) (70.6)

Non-controlling interests 22.8 (6.4)

Net profit / (loss) attributable to OHD shareholders

228.9 100.0

Basic EPS (EGP) 1.03 0.45

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Notes

Revenues increased by 23.6% mainly due to the recognitionof the land parcels sold in El Gouna, increased hoteloperations during the first 9M & enhanced hospitaloperations.

Gross profit margin increased due to high margins associatedwith the land segment.

Investment income increased by 146.2% mainly due to theincrease in interest income on the time deposits from theearlier sale of 15% in OHD, land and real estate receivables.

Decrease of Other gains and losses was mainly due to foreignexchange losses and the devaluation of the EGP against theUSD.

The share of loss in associates was due to losses incurred inOHC.

Income Tax expense decreased by 63.0% due to the decreasein the income tax rate to 22.5% from 25.0% which alsoaffected the deferred tax balances.

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Balance sheet

Notes

Total Assets increased by 318.3 million due to theincrease in operating activities and the subdevelopment agreements in El Gouna.

The increase in PPE was due to the increase inTamweel’s business activity and the construction ofthe new Ancient Sands hotel in El Gouna.

Receivables increased significantly from the realestate and land sales.

Increase in cash and bank balances due to the cashreceived from the parent company “ODH” (EGP 418mn) resulting from its 15% stake sale in OHD,accordingly the other assets decreased by the sameamount.

Total borrowings increased as a result of the increasein FOREX rates which was partially offset by loanrepayments during the period.

Other liabilities increased due to the increase in thecustomer advanced payments, resulting from the newreal estate sales.

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(EGP mn) 31.12.15 31.12.14

Property, plant and equipment 3,836.4 3,743.3

Inventories 645.4 649.2

Receivables 1,259.0 847.8

Cash and bank balances 820.9 463.0

Investments in associates 98.0 115.2

Other assets 810.9 1,333.8

Total assets 7,470.6 7,152.3

Borrowings 3,272.3 3,226.8

Payables 262.4 272.9

Provisions 298.6 229.9

Other liabilities 944.8 925.9

Total liabilities 4,778.1 4,655.5

Non-controlling interests 481.3 514.3

Equity attributable to OHD shareholders

2,211.2 1,982.5

Total liabilities and equity 7,470.6 7,152.3

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Cash Flow statement

(EGP mn) FY 2015 FY 2014

Cash from operations 459 376

Interest paid (203) (99)

Taxes paid (41) (30)

Operating Cash Flow 215 247

Payments for PP&E (234) (172)

Other items 71 83

Investing Cash Flow (163) (89)

Change in Borrowings (109) 57

Proceeds from parent company 418 0

Other items (3) (3)

Financing Cash Flow 306 54

Net change in cash/equivalents 358 212

Cash and bank balances beginning of period 463 251

Cash and bank balances end of period 821 463

Notes

Improvement in cash flow from operations:- Enhanced operating activities (RE and hotels &

land segment).- Deconsolidation of OHC & its subsidiaries.

Payments for PP&E increased mainly due to theincrease in Tamweel activity during the period andthe construction of Ancient Sands Hotel in El Gouna.

Change in Borrowings mainly resulting from:(-) The repayment of short term loans of EGP 218 mn.(+) Increase in Tamweel business activities.

This amount represents cash received from theparent company “ODH” as result of its 15% stake salein our company (this amount is included in the cashfrom operations in the audited financial statements)

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Key debt metrics

Total debt development 1

EGP mn

Re-negotiating the approved debt refinancing package , capitalizing on CBE’s initiative to be finalized in 2Q 2016

Current MTL maturity profile excluding TamweelEGP mn, as of 31.12.15

1 Debt Includes Tamweel2 Agreed upon refinancing structure, including overdraft facilities and excluding Tamweel , with 2 years grace period and after paying off EGP 413 mn, yet not incorporating the CBE’s latest initiative

Debt maturity profile after rescheduling 2

EGP mn, as of 31.12.15

Comments

Paid off all capitalized interest for the year 2014 amounted to264.0 million.

OHD maintains relationship with 10 banks.

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200

300

400

500

600

700

2016 2017 2018 2019 2020 2021 2022 2023

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200

300

400

500

600

700

2016 2017 2018 2019 2020 2021 2022 2023

3,078 3,128 3,113 3,1243,227 3,272

175163 166 145

2,500

2,700

2,900

3,100

3,300

3,500

FY 13 1Q 14 2Q14 3Q14 FY 14 FY 15

OHD Disposal groups

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Financing profile 1

Collateralization profilein %, as of 31.12.15

Hotels53%

Shares20%

Others9%

Nil18%

Interest payments by currency in %, as of 31.12.15

Total debt by currency in %, as of 31.12.15

1 All debt figures exclude debt relating to Tamweel Mortgage Finance2 Equity Ratio = Total Equity/Total Assets3 Excluding Tamweel

31.12.15 31.12.14

Equity ratio (%)2 36.0% 34.9%

Weighted average cost of debt (%)3 7.82% 7.60%

32%

58%

10%EGP

USD

EUR

52%43%

5%EGP

USD

EUR

Secured82%

Unsecured18%

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FY 2015 Highlights Page 3

Financial review Page 5

Business segments Page 11

Outlook 2016 Page 18

Agenda

11

Business Segments FY 2015

Revenue EBITDA Adj. EBITDA*

(EGP mn) FY 2015 FY 2014 Δ in % FY 2015 FY 2014 FY 2015 FY 2014

Hotels 576.0 542.9 6.1% 17.6 140.4 51.2 60.9

Real Estate 268.2 441.9 (39.3%) 162.1 147.8 124.8 137.5

Land 541.5 105.8 411.8% 548.7 86.3 549.3 92.9

Destination Management

104.9 87.8 19.5% (6.2) 34.4 1.9 8.5

Other Operations 282.0 256.2 10.1% 93.1 77.5 96.7 92.8

Corporate & Unallocated Items

- - - (204.9) 75.7 (20.5) (57.9)

OHD Group 1,772.6 1,434.6 23.6% 610.4 562.1 803.4 334.7

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

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Value of contracted units (EGP mn)

Number of contracted units

Average Selling Price (EGP/m2)

Value of deferred Revenue (EGP mn)

Destination FY 15 FY 14 FY 15 FY 14 FY 15 FY 14 FY 15 FY 14

El Gouna 663.81 376.8 183 121 20,355 19,272 655.7 372.1

Fayoum 1.5 - 3 - 4,321 - 25.3 32.1

Makadi 8.1 23.2 20 57 5,125 4,639 4.2 6.2

Gardania 21.5 - 4 - 10,643 - - -

OHD Group 694.9 400.0 210 178 18,773 16,251 685.2 410.4

Numbers net of cancellations2:

OHD Group 588.21 340.1 162 136

Real Estate KPIs FY 2015 & Deferred Revenue

Revenue Recognition Schedule (EGP mn)

DestinationDeferred Revenue Balance

2016 2017 2018

El Gouna 655.7 256.7 267.3 131.7

Fayoum 25.3 20.8 4.5 -

Makadi 4.2 3.1 1.1 -

1 Includes EGP 91.8 million sale of Mansions

2 Cancellations of the accumulated sales from prior periods

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Real estate and Land performance update and outlook

Performance Update

Total contracted sales increased by 73.7% y-o-y to reach EGP 694.9 mn.

Achieved the real estate net sales target for the year. Net sales in FY15 has significantly increased by 72.9% to reach EGP588.2 mn compared to EGP 340.1 mn in FY14.

Cash Collections from real estate sales in 2015 reached EGP 427.0 mn.

Launched 4 new real estate projects in El Gouna with a total inventory of USD 93.4 million in 2015, introducing a newdiversification of the product mix, different price ranges, attracting a new target age.

Accelerated the construction of all launched projects during 2014, expecting to start delivery in Joubal by Q2 2016, 6months ahead of schedule.

Signed two new sub-development agreements with Hassan Allam Properties Company and Diwan Al Omr For TouristicInvestment Company to sub-develop 110,196 m2 of land in El Gouna for a total value of USD 22.0 million.

Outlook

Planning to launch Fanadir Bay with a total inventory of approximately USD 60.0 mn during Q2 2016.

Planning to launch new products in Fayoum, with a total inventory of EGP 30 mn (USD 3.9 mn) in Q4 2016.

In Makadi, we are currently finalizing the design for the Clubhouse and will proceed to permits in order to commenceconstruction by early 2016.

Studying several opportunities to enter into the First and Second home markets in Cairo and the North Coast

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Hotels summary

Hotels 4Q 15 4Q 14 Change FY 15 FY 14 Change

Revenues (EGP mn) 135.6 157.8 (14.1)% 576.0 542.9 6.1%

EBITDA (EGP mn) 0.3 88.3 (EGP 88.0) 17.6 140.4 (EGP 122.8)

Adjusted EBITDA (EGP mn) 6.3 17.8 (EGP 11.5) 51.2 60.9 (EGP 9.7)

1 GOP PAR: Gross Operating Profit Per Available Room

Continued efforts to promote the Hotels performance afforded a 6.1% increase in revenues duringthe FY 15 vs. FY 14

Commentary

The Russian plane crash incident in the Sinai Peninsula has led Russia and other European countries to suspend their flightoperation to Egypt from early November 2015.

Makadi Hotels strongly suffer the suspension of the Russian tourism to Egypt reporting a year-on-year GOPPAR drop from EGP85 to EGP 64 in 4Q 15. In 9M 15, Makadi Hotels reported a GOPPAR of EGP 66 growing from EGP 29 in 9M 14.

Taba Heights’ continue to be the Group’s most challenged destination with a total EBITDA loss of EGP 43.3 mn in FY 15.

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Number of hotel rooms

Occupancy*rate (%)

TRevPAR*(EGP)

GOP PAR*(EGP)

Destination FY 15 FY 14 FY 15 FY 14 FY 15 FY 14 FY 15 FY 14

El Gouna1 2,450 2,530 67 59 439 386 108 110

Taba Heights2 2,365 2,365 20 27 144 133 (82) (39)

Makadi 1,113 1,114 63 59 254 219 53 25

Floating Hotels 27 27 13 4 704 249 (96) (292)

OHD Group 5,955 6,036 54 48 323 265 46 41

Hotel KPIs FY15 and 4Q 2015

Number of hotel rooms

Occupancy*rate (%)

TRevPAR* (EGP)

GOP PAR*(EGP)

Destination 4Q 15 4Q 14 4Q 15 4Q 14 4Q 15 4Q 14 4Q 15 4Q 14

El Gouna 2,450 2,530 71 62 472 446 115 140

Taba Heights3 2,365 2,365 25 21 107 149 (248) (49)

Makadi4 1,113 1,114 47 60 197 240 14 16

Floating Hotels 27 27 19 7 1,082 431 214 134

OHD Group 5,955 6,038 59 48 360 307 48 53

1. Ocean View Hotel: No of operating rooms in Q3 15 were only 155. whereby, 79 rooms have been converted to residential units.2. During the FY 2015,only 4 hotels were operating (1,756 rooms) in Taba Heights. Whereby, during 9M 2014, all 6 hotels were operating until May 2014, we shut down El Wekala and

Bay View (both representing 609 rooms).3. In Q4 2015,only Sofitel hotel was operating with 442 rooms in Taba Heights. Whereby, during Q4 2014, 4 hotels were operating, as we shut down El Wekala and Bay View (both

representing 609 rooms).4. In Q4 2015, we closed two hotels (Club Azur and Makadi Gardens) in Makadi after the airplane crash incident.

* All KPIs are calculated based on the number of operational rooms during the period.

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El Gouna sustained a growing occupancy trend, increasing from 59% in FY 14 to 67% to FY 15.

Strong cooperation with selected tour operators, expanded distribution network (RTK), dynamic pricing system and thepositive PR following the refreshed hotel product afforded a 19% increase in El Gouna’s TRevPAR growing from EGP 283 inFY 14 to EGP 338 in FY 15.

Notable growth of the German business at Makadi Hotels. In FY 15 the German Speaking Market was one of the topproducing markets representing 23% of the business with more than 79,000 room nights in 2015 growing from 35,000room nights in 2014.

As a cost-cutting procedure following the suspension of the Russian tourism to Egypt, two of Makadi Hotels were closed inDecember 2015. The Russian business represented 56% of total Makadi Hotels’ business in FY 15.

Taba Heights continue to operate at only 18% of its capacity (442 rooms) following the travel bans set on the region by allmajor European countries. Operating Hotel reported an occupancy of 20% in FY 15.

Finalizing the development of the Ancients Sands hotel in El Gouna and Byoum Lakeside Hotel in Fayoum, both are due toopen in Q2 2016.

Hotels performance update and outlook

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FY 2015 Highlights Page 3

Financial review Page 5

Business segments Page 11

Outlook 2016 Page 18

Agenda

18

Outlook 2016

Re-negotiating with the banks to capitalize on CBE’s new 3 years grace period on principal and interest afterfinalizing the initial deal with the banks on a 2 years grace period.

Looking into exploring the first and second homes markets. Currently studying land opportunities in New Cairo andthe North Coast.

Tough beginning for the hotels segments. In February, El Gouna occupancy declined from 58% to 51%. MakadiHotels, reported a year-on-year occupancy decline from 46% to 37%.

New strategy at the holding level to be introduced by the CEO, Khaled Bichara in May 2016.

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IR dashboard

Investor Relations Contact:

Sara El GawahergyHead of Investor RelationsTel Dir +20 (0) 22 461 89 61Mobile EGY: +20 100 2185651Mobile CH: +41 41 874 1711sara.elgawahergy@orascomdhcomir@orascomdh.comwww.orascomhd.com

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