INVESTING IN AFRICAINVESTING IN AFRICA

TransCentury Corporate Profile

11

1

• Executive Summary

• Operating Divisions

• Infrastructure Projects

• 2013 Financial Performance

• Working with the Community – Skill and job development

• Management

! Trans-Century Limited (“TCL”) is a Kenya–headquartered infrastructure company with operations

across East, Central & Southern Africa

− 2013 operating profit of over USD 25 million

− 2013 total assets of over USD 260 million

! Uniqueness of TCL:

− Founded by entrepreneurial Kenyan business people and

investorsEntrepreneurial

Executive summary

investors

− Focus on Power, Engineering and Infrastructure Projects

− Operating companies led by dynamic management

with extensive experience & in-depth exceptional capabilities

! TCL investment view:

− African markets display under-penetration & inefficiency, particularly infrastructure

• Poor service delivered expensively to too few people

− Opportunity to build scale businesses that target existing market inefficiencies

• Focus on strong cash generation and capital gains

Infrastructure focus

Ability to execute

2

Power infrastructure Engineering

TransCentury’s Infrastructure Focus

TransCentury

Infrastructure Projects

• Electrification Play: Consolidation of

• Energy and Transportation /logistics play: Critical Energy

• Oil & Gas Services Play: Specialised engineering, Strategic Focus Strategic Focus Consolidation of

electrification business under “TCL Power” umbrella

/logistics play: Critical Energy and transport infrastructure to support key pillars of the domestic and export economy

Specialised engineering, logistics and EPC contracting for the Oil & Gas, Power and Mining sector

Strategic Focus Strategic Focus

• E.A.Cables – manufacture aluminium & copper cable

• Tanelec – transformers, switchgear etc.

• Kewberg - specialty cables manufacturer

• CDC – manufacture copper cables

• Leading manufacturer and supplier of cables and transformers for electrification projects across Eastern & Southern Africa

• Awarded a Geothermal Power Generation Plant in Menengai in Kenya. Power Purchase Agreement (PPA) already initialled

• Developing a 50MW wind farm in Limuru, which will provide low cost grid power for the national grid, through the installation of 33 wind turbines

• Civicon – Civil, mechanical engineering, cranage & erection and logistics

• Avery – Weigh Bridges, generators , bearings, sub-stations

• Already serving Tullow Oil and TOTAL in Kenya and Uganda respectively who are the two largest Oil & Gas exploration players in the Region

Business activities Business activities

3

44

4

• Overview

• Operating Divisions

• Infrastructure Projects

• 2013 Financial Performance

• Working with the Community – Skill and job development

• Management

Power division

5

Power division overview

Leading East Africa electrical components manufacturerDescription

• Through the power division, TCL is a leading manufacturer of electrical cables, conductors and electrical equipment.

• The division operates through 8 factories across East, Central and Southern Africa.

• Consolidation of the power division operations ongoing so as to unlock the businesses’ inherent value

• The division had revenues of US$ 75 mm in 2013

• Leading power cable manufacturer with 5 plants in East and Central Africa, through EAC and CDC.

‒ All major real estate developments (commercial and residential) in the region use these cables

• Predominant manufacturer of transmission equipment in East and Central Africa, through Tanelec

• Leading manufacturer of specialised cables in East, Central Africa and Southern Africa, through Kewberg

• Leading manufacturer of low and medium voltage switch gear through Tanelec.

6

gear through Tanelec.

Cables Transformers Switch gear Generators Contracting Projects

• Overhead Conductors• Power & Control• Specialty & Design• Building Wire• Data & Communication• Instrumentation &

Control Cables• Mining Cables

• Distribution transformers

• Power transformers• Transformer

Servicing

• Low voltage Switchgear

• Medium voltage Switchgear

• Automation & Control Products

• SDMO Generators• Power Source • Yor Power

Generators

• Distribution & Transmission Lines

• SubstationsProd

ucts

:

Libya

Tunisia

Algeria

Morocco

Guinea Bissau

Mauritania

Egypt

Chad

NigerEritrea

Central African Republic

Nigeria

Mali

Senegal

Liberia

EthiopiaSomalia

DjiboutiGambia

Sierra Leone

Guinea

Ivory Coast

Burkina

Sudan

Geographical presence

NBO, Kenya• Copper – house wires• Copper – armoured cables• Aluminium conductors• Data Cables

Arusha, Tanzania• Transformers• Switchgear

DAR, Tanzania• Copper – house wires• Copper – armoured cables•

Togo

CameroonBenin

Democratic Republic of Congo

Uganda

Gabon

KenyaGhana Equatorial

Guinea

CongoRwanda

Tanzania

MozambiqueAngola

Zambia

Burundi

Malawi

Botswana

ZimbabweNamibia

South Africa

Lesotho

Swaziland

Madagascar

7

Operating Companies

Sales offices/agents

JHB, South Africa• Speciality cables –

instrumentation, mining and control cables

KITWE, Zambia• Turnkey electrical projects • Electrical Engineering/ products• Industrial Products

KINSHASA, DRC• Copper – house wires• Copper – armoured cables

• Copper – armoured cables• Aluminium conductors• Enamel winding wire

Manufacturing plants

Countries covered by:

Despite recent growth, the Power Sector remains highly underserved

Electrification rate: % of householdsCement consumption and electrification

Fundamentals: Strong growth Market potential: Still underserved

30%

15%

15%

72%

85%

Kenya

Uganda

Tanzania

Ghana

South Africa0.5

1.0

1.5

2.0

2.5

0.8

1.3

1.8

2.3

2.8

3.3

3.8

4.3

KPL

C C

usto

mer

s (M

illio

ns)

Cement Consumption

Electrification

MT

CAGR: 14%

CAGR: 16%

Installed capacity (MW)Power generation capacity

8

100%USASource: World Energy Outlook , Kengen

1 765

682

1 450

2 846

45 700

1 167 995

Kenya

Uganda

Tanzania

Ghana

South Africa

USASource: ERA, VRA, TANESCO, US Energy Information Administration

Source: KPLC and KNBS

Source: KPLC

2008 2009 2010 2011 2012 2013

1,000MW

1,100MW

1,200MW

1,300MW

1,400MW

1,500MW

1,600MW

1,700MW

1,800MW

2008 2009 2010 2011 2012 2013

Inst

alle

d C

apac

ity M

W CAGR: 6%

TanzaniaKenya

! Power Generation Capacity planned to increase to 5,246 MW by 2016

! Geothermal 1,646 MW

! Natural Gas 1,050 MW

! Wind 630 MW

! Coal 1,920 MW

! Additional 4,800km of Transmission lines by 2016

! Additional 72,824km of Distribution lines by 2020

! Addional capacity of 9,088 MVA of substations by 2020

! Key 2016 Targets

! Power Generation Capacity planned to increase to 3,000 MW

! Gas 1,600 MW

! Wind 50 MW

! HFO 63 MW

! Additional Transmission lines planned amounting to 2,977 km

! Discovery of significant gas finds in Mtwara and Songo Songo with initial production alreeady in progress

Power outlook in Eastern Africa

TanzaniaKenya

9

! Addional capacity of 9,088 MVA of substations by 2020Source: National Energy Policy, Energy day Prospectus

RwandaUganda

! Power Generation Capacity planned to increase by 3,000 MW by 2020

! Hydro 1,500MW

! Geothermal 1,500 MW

! Additional 2,904 kms of Transmission and Distribution lines planned

! Privatisation of Power Sector including distribution infrastructure (Umeme)

! Power Generation Capacity increased to 595 MW by 2020 in addition to improved power grid

! Hydro 200MW

! Geothermal 160 MW

! Methane 100 MW

! Peat 115 MW

! HFO 20 MW

! Add 555 kms of Transmission lines

! Additional 1,400kms of Distribution lines

! Additional 1,200MVA of Substation capacitySource: National Energy Policy, Energy day Prospectus; AFDB

Rwanda

Kenya Power Connections

Supporting Regional Rural Electrification Authoritiesin building out of grid

1.5

1.6

2.0

1.4

1.6

1.8

2.0

2.2

Cus

tom

er A

ccou

nts

(mill

ions

)

CARG 12%

1010Turnkey ProjectsPower Cables Aluminum Conductors Distribution Transformers

Electricity connections in rural AreasSource: KPLC

1.1

1.3

1.0

1.2

1.4

2008 2009 2010 2011 2012

Cus

tom

er A

ccou

nts

Supporting Major Infrastructure Projects

Project Details

! Country: South Africa

! Customer: Eskom

! Capacity: 4,800 MW

! Plant type: coal power plant

! Current status: ongoing, expected Kusile Power Plant Construction, 4800 MWKusile Power Plant Construction, 4800 MW

! Current status: ongoing, expected completion in 5 yearsKusile Power Plant Construction, 4800 MWKusile Power Plant Construction, 4800 MW

TCL Power cables used for the projectTCL Power cables used for the project

! Supply of instrumentation cables for the power station

! Orders to be placed over 4 years, to be manufactured locally in South Africa

! Just-in-time supply of mission-critical cables through local manufacture

11

SolutionSolution

TimingTiming

DeliveryDelivery

TCL Power’s Participation

Project Details

! Country: Kenya

! Customer: Kenya Airport Authority (KAA)

! Project type: Terminal Construction

! Current status: expected completion by December, 2013

Supporting construction of Terminal 4 Kenya Airport Authority

12

Construction of Terminal 4Construction of Terminal 4

East African cables used for the projectEast African cables used for the project

! Construction of the new JKIA terminal 4

! Ongoing

! Just-in-time supply of cables, lighten working capital requirements for customer

East African Cables Participation

SolutionSolution

TimingTiming

DeliveryDelivery

Engineering division

! Over 50 engineers

! Over 2,000 staff

! In house Quality Assurance and Quality Control

! 5 fully equipped workshops across the East African region

PeoplePeople

WorkshopsWorkshops

StandardsStandards

Leading EPC contractor in Eastern Africa

1414

! Over 1,000 pieces of well maintained heavy equipment

EquipmentEquipment

Snapshot of Engineering projects across Africa

Libya

Tunisia

Algeria

Morocco

Guinea Bissau

Mauritania

Egypt

Chad

NigerEritrea

Central African Republic

Nigeria

MaliSenegal

LiberiaCameroon

EthiopiaSomalia

DjiboutiGambia

Sierra Leone

Guinea

Ivory Coast

Benin

Democratic Republic UgandaKenya

Burkina

Ghana Equatorial

Established OfficesAreas of Operations

CIVIL ENGINEERING

South Sudan:Road construction, maintenance of 113 kilometers Yei Juba road

MECHANICAL ENGINEERING

Kenya:Construction of 48MW Geothermal plant in Naivasha

Northern Sudan

Southern Sudan

Northern Sudan

Selected projects in various countries

15

Madagascar

Togo

Democratic Republic of Congo

Uganda

GabonKenya

Equatorial Guinea

CongoRwanda

Tanzania

MozambiqueAngola

Zambia

Burundi

Malawi

Botswana

ZimbabweNamibia

South Africa

Lesotho

Swaziland

Geothermal plant in Naivasha

LOGISTICS

Uganda:Transport of brewery vessels

CRANAGE & ERECTION

Rwanda:Construction of a 25MW HFO plant in Kigali

CIVIL ENGINEERING

Congo:Mining services for a 5.6 million ounce mine

Kenya

! Development of the oil & gas sector. Currently 38 exploration blocks granted for upstream exploration with Tullow Oil and Africa Oil being leading players

! Expansion of power generation capacity and transmission networks in line with vision 2030

! Government and private infrastructure projects to support growth in the energy and transportation sectors

! Development of the mining sector leading to new mine development (e.g. Kwale Mineral Sands Project)

Uganda

! Development of the oil & gas sector. Currently 13 exploration blocks with TOTAL, Tullow and CNOC being the key players

! Development of infrastructure to evacuate the oil set to be drilled in 2017

! Development of a refinery to support petroleum products demand growth in the economy

! Expansion of power generation capacity and transmission networks in line with vision 2040

Engineering opportunities in East Africa

16

mine development (e.g. Kwale Mineral Sands Project)transmission networks in line with vision 2040

! Development of mini hydro (large potential)

Tanzania

! Discovery of large gas deposits in Southern Tanzania near Mozambique border in Mtwara

! Expansion of power generation capacity and transmission networks.

! Government and private infrastructure projects to support growth in the energy and transportation sectors

! Development of new sea port at Bagamoyo

! Rehabilitation and extension of Airports

! Well established mining sector

DRC, Rwanda, Burundi and Zambia

! Rwanda

- Developments of power generation capacity and transmission networks.

! Burundi and North Eastern DRC

- Exploitation of abundant natural resources with easiest access being throough the Port on Mombasa

! Zambia and South Eastern DRC

- Large Mining and Captive Power opportunities

Case example - geothermal power plants

ORPOWER 50 MW SCOPE - SMPP

Earthworks ! 200,000 m3 of cut and fill earthworks in 8 weeks ! 2,000m of fencing ! 10,000 m2 of stone pitching

Concrete Works ! Construction of all concrete foundations for the Power Station ! 1,700 m3 of concrete constructed in 5 months ! QA/QC Testing: Cube tests

Structural & Mechanical Installations ! All structural steel and mechanical installations

Case 1: Orpower IV 50 MWCase 1: Orpower IV 50 MW

Client Ormat

Contractor Civicon Limited

Location Naivasha, Kenya

Start July 2012

Completion Feb 2013

Duration 8 Month Build

Value USD 13.1 m

Scope Construction of a 50MW geothermal power plant including all earthworks, civil works and mechanical Installation

! All structural steel and mechanical installations! 13km of steam pipes (16” to 42”) installed complete with pipe

supports

17

Client KengenContractor Civicon LimitedStart February 2011Completion August 2011Value USD 3.6 m

! Turnkey project of a 2.3 MW geothermal power station., handling the project from the Greenfield site to completion, this included:

− Civils− Piping− Foundations

Case 2: Eburru, 2.3 MW Case 2: Eburru, 2.3 MW

Kwale Mineral Sands ProjectKwale Mineral Sands Project

Client Base Titanium Limited

Contractor Redis-Civicon Kwale Limited

Location Kwale, Kenya

Start November 2012

Completion September 2013

Duration 11 Months (8 Month Build )

Value USD 32 m

Case example - construction projects

The first titanium process plant built in Kenya with an excellent safety record

Value USD 32 m

Scope Structural , Mechanical, Platework and Piping (SMPP)

CIVICON SCOPE - SMPP! Contractors Camp for 800 persons

! Installation of 2500MT of structural steel work

! Installation of 500MT of mechanical process

equipment - processing systems, Process

pumps, Conveyor, Steel hoppers, Product storage

tanks, Bucket elevators, Steel Support

Structures, Gantries & Access walkways for pipe work

! 300MT supply , fabrication and erection of platework

- process bins and hoppers 18

Mombasa - VTTI Oil TerminalMombasa - VTTI Oil Terminal

Client VTTI Kenya limited

Contractor Civicon

Location Mombasa, Kenya

Start March 2011

Completion August 2012

Duration 18 Months

Value USD 31.3 m

Scope Full EPC Contract to construct a 113,000cbm AGO storage terminal with truck loading facility

Case example - construction projects

facility

CIVICON SCOPE – Civil, Structural, Mechanical & Electrical

! Design of all civils, mechanical and electrical works ! 6000m3 of bulk earth works ! 750nr concrete bored piles 600mm diameter by 30m deep

tested to 280T! 4850 m3 concrete works (piles and tank foundations) ! 10 tanks up to 14,200 m3

! 2400MT of steel plate work – cutting, rolling, fitting and welding

! 29,000 m2 of grit blasting to SA2.5 and epoxy painting ! 850MT of product piping, bulk being 20” diameter 19

2020

20

• Overview

• Operating Divisions

• Infrastructure Projects

• 2013 Financial Performance

• Working with the Community – Skill and job development

• Management

Infrastructure projects

! TransCentury originates high return Infrastructure Projects in partnerships with key technical partners and government

! Strong pipeline of projects in power generation, oil pipelines and toll roads of + $400m of equity;

– Projects phased in 2014, 2015 and 2016 and focused on Energy and Energy Infrastructure predominantly as these are the highest return opportunities.

! TCL would add value by originating, building and operating infrastructure assets along

Infrastructure projects

! TCL would add value by originating, building and operating infrastructure assets along with technical partners on behalf of investors;

! TransCentury invests both its own capital and third party funds into these infrastructure projects.

! Menengai Geothermal Power Station will be built in 2014/2015 using this model working alongside ORMAT (large Global Geothermal Operator listed on the NYSE) as partners

! The ground-breaking of a 50 MW Wind Farm is set to take place in 2015 in Limuru. The project will be undertaken by a consortium including HydroChina Corporation as the EPC contractor

22

2323

23

• Overview

• Operating Divisions

• Infrastructure Projects

• 2013 Financial Performance

• Working with the Community – Skill and job development

• Management

Snapshot of historical performance

EBITDARevenue

$31m

$67m$83m

$71m$84m

$126m

$157m$137m

$14m

$21m$19m

$15m$18m

$23m

$30m$26m

CAGR: +24%

CAGR: +9%

24

Total AssetsNet assets value

Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13

$46m

$120m $104m $115m $139m

$264m $254m $276m

Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13

$23m

$46m $40m $46m$66m

$130m$140m

$153m

Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13

Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13

CAGR: +30%CAGR: +29%

Summary financial statements – 1 of 2

Income Statement Figure in KES millions 2013 2012 % Variance

Revenue 11,807.6 13,487.2 -12%

Gross Profit 3,559.3 3,673.2 -3%

% of Sales 30.1% 27.2%

EBITDA 2,258.4 2,613.3 -14%

% of Sales 19.1% 19.4%

Operating Profit 1,535.0 1,969.4 -22%

25

Operating Profit 1,535.0 1,969.4 -22%

% of Sales 13.0% 14.6%

Profit Before Income Tax 858.6 1,226.5 -30%

% of Sales 7% 9%

Profit After Income Tax 626.4 736.1 -15%

% of Sales 5.3% 5.5%

Profit After Tax Attributable to:

Equity Holders of Parent Company 291.3 455.1 -36%

Non Controlling Interest 335.1 285.6 17%

Profit For the Year 740.6 626.4 18%

Figures in KES Millions 2013 2012 % Variance

PP&E 6,630.2 6,865.9 -3%

Other Non Current Assets 8,425.8 7,470.1 13%

Total Non Current Assets 15,056.0 14,336.0 5%

Inventories 1,540.4 1,593.5 -3%

Trade and Receivables 6,843.7 5,603.7 22%

Other Current Assets 400.1 312.5 28%

Total Current Assets 8,784.2 7,509.8 17%

Total Assets 23,840.3 21,845.8 9%

Summary financial statements – 2 of 2

Consolidated Balance Sheet

Total Assets 23,840.3 21,845.8 9%

Loans 3,786.7 3,179.2 19%

Other Non Current Liabilities 928.1 751.8 23%

Total Non Current Liabilities 4,714.8 3,931.0 20%

Overdrafts 491.3 335.4 46%

Long term Loan - Current Portion 1,833.4 1,398.0 31%

Creditors and Accruals 3,562.1 3,883.4 -8%

Other Current Liabilities 20.4 229.4 -91%

Total Current Liabilities 5,907.1 5,846.2

Convertible Bond 5,132.0 4,574.6 12%

Shareholders Equity 8,086.4 7,494.0 8%

Total Liabilities and Shareholders Equity 23,840.3 21,845.8 9% 26

2727

27

• Overview

• Operating Divisions

• Infrastructure Projects

• 2013 Financial Performance

• Working with the Community – Skill and job development

• Management

TransCentury Technical Training Programme – Bridging Technical Skill Gap

The Transcentury Technical Training program is an initiative that was launched in 2015 with the aim of harnessing technical skill in Sub-saharan Africa starting with Kenya. The program aims at bridging a technical skill gap that exists in the region, In conjunction with Technical institutions and Governments.

Working with the Community – Skill and job development

28

CEO, Dr. Gachao Kiuna, handing out scholarships

Scholarships- Merit based scholarship program aimed at encouraging excellence, over 500 students will benefit from this scholarship every year.

Infrastructure support – Provide relevant infrastructure support ensuring training offered in selected institutions is of world class standards.

Curriculum development – In conjunction with curriculum development bodies, TCL group has committed its long term support to offer advice and consult on the development process in two focus areas, Power sector and Oil and Gas sector, two areas that are experiencing huge growth spurt in the region.

TransCentury Fundi Bora Club

Creating jobs in focus sectors remains a key priority to drive jobs for the youth

Working with the Community – Skill and job development

29

Fundi Bora programme started in 2011 with the aim of providing technical training! Over 1,000 qualified and licensed youth graduate from progamme each year! Training focused on Power Sector (e.g. electricians) and Oil & Gas (e.g. welders)! Basic management skills part of programme in addition to technical training! All graduates join Fundi Bora Club and participate in training/inspiring others! Programme being expanded for National Roll-Out in collaboration with Polytechnics

3030

30

• Overview

• Operating Divisions

• Infrastructure Projects

• 2013 Financial Performance

• Working with the Community – Skill and job development

• Management

TCL corporate team

Dr. Gachao Kiuna

• Corporate finance & strategy consulting (McKinsey)

• PhD Biotechnology, BSc Biochemistry

Chief Executive Officer

Ng’ang’a Njiinu

Allan Munyua

• Business procurement, Financial management advisory, PwC

• Masters in settlement & infrastructure development, Bachelors of Architecture

Division Principal, Power and Engineering

Geoffrey Njue

Martin Munyiri

• Audit & Advisory (KPMG)• Certified Public Accountant

(Kenya)• Bcom Accounting

Group Head of Finance

Ng’ang’a Njiinu

• Financial analysis, planning & strategy

• Chartered Financial Analyst, MBA finance & investment management

Division Manager, Engineering

Geoffrey Njue

• Group audit experience at Nestle, Industrial Promotion Services, PwC

• CPA (Kenya)• BSc in Civil Engineering

Group Internal Auditor

Rose Kinuthia

• Audit senior(Ernst &Young)• Certified Public Accountant

(Kenya)• Bcom accounting

Management Accountant

Phyllis Gachau

• Marketing Manager (Marshalls East Africa), Head of Client Services (Oglivy)

• Marketing Manager East African Cables

• Bsc International Business Administration

Group Communications Manager

31

Key people in our divisions

ExperienceCEO

TransCentury

Power

• Dr. Gachao Kiuna ! Corporate finance & strategy consulting (McKinsey)

! PhD Biotechnology, BSc Biochemistry

• George Mwangi ! Over 12 years of experience in the Cable industry

! Previously worked as CFO of East African Cables

! Certified Public Accountant, Certified Public Secretary

• Phili Fundu ! BSc Civil Engineering

Cables, EAC

Cables, CDC

32

• Phili Fundu ! BSc Civil Engineering

! Previously worked for Schneider Electric for 7 years with the last 3 years as DRC-Congo Country Manager before joining Câbleries Congo in June 2011

• Jason Horsey ! Extensive experience in oil and gas projects

! Instrumental in obtaining ISO 9001 certification for Civicon

! Holds specialist qualifications from IBC Lloyds Global Academy

• Nicholus Kithinji! MBA – Strategic Management, B.Sc. Agricultural Eng.

! 10 years experience in Sales in Construction and Trading with world class Brands and renowned dealerships in East Africa

Transformers

Cables, CDC

Engineering

Trading

Contracting

Contact us

For enquiries, please contact:

Dr. Gachao Kiuna

Chief Executive Officer

Tel: +254 20 224 5350

+254 20 224 5232

+254 20 300 6327

Fax: +254 20 224 5253

Email: gachao@transcentury.co.ke

Phyllis Gachau

Head of Communication

Tel: +254 20 224 5350

+254 20 224 5232

+254 20 300 6327

Fax: +254 20 224 5253

Email: phyllis@transcentury.co.keEmail: gachao@transcentury.co.ke

www.transcentury.co.ke

33

Email: phyllis@transcentury.co.ke