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EEC Q1 2017 Investor Presentation
Our Vision Establish King Abdullah Economic City (KAEC) as a strong enabler of socio-economic development in the Kingdom of Saudi Arabia
Page 1
Our Objectives• Employment and career development to build local capacity• Top-notch business development to attract regional and international businesses to the area• Providing housing solutions to all income segments• Tourism, leisure, and social activities that engage the community• Education development through schools, colleges , and other institutions
KAEC Master Plan
Segment Breakdown %
Category Current Plan Industrial 23,625,000
Commercial/Hospitality 12,736,000
Residential 75,373,000
Other 19,847,000
BUA Total 131,581,000
Employment 890,000
Population 1,750,000
Industrial 21%
Retail 11%
Residential 68%
KAEC is a greenfield city development roughly the size of Washington DC. Its objective is to help with Saudi Arabia’s acute housing demand and support economic diversification. KAEC’s strategic location on the Red Sea puts it close to international maritime routes and provides instant access to key cities within Saudi Arabia. KAEC is comprised of the Coastal Communities, The Industrial Valley, King Abdullah Port( KAP), and The Hejaz District.
Project Overview
Page 2
KAEC Business Model
COMMERCIAL & LIESURE
• Retail• Offices• Hospitality
CITY DEVELOPMENT & ECONOMIC GROWTH
• Jobs Creation• Population• Ramp-up
CITY DRIVERS• Port• Industrial Valley• Haramain Station• Bonded Zone • Land Bridge • MBSC (Powered by
Babson College)
INFRA-STRUCTURE
• Roads Network• Utilities• Public Assets
SOCIAL AMENITIES
• Education• Healthcare• City Management
HOUSING NEEDS
• High End• Middle End• Low End• Labor Camps
Land/Unit Sales
Debt
Shareholders Equity
Funding Sources
Return to Share-holders Fin.
benefits to Govt.
Local & Foreign Inv. Logistics Hub
Realization of Economic city
vision Job Creation
Economic Impact
Page 3
DevelopedUnder
DevelopmentGraded Under Planning
Industrial 10,842,255 9,788,930 2,011,807 23,697,959
Commercial 408,764 1,097,604 0 5,898,387
Residential 876,059 6,857,163 0 5,119,790
Total * 12,127,078 17,743,697 2,011,807 34,716,136
0
5,000,000
10,000,000
15,000,000
20,000,000
25,000,000
30,000,000
35,000,000
40,000,000
Are
a (s
qm
)
Grand Total * 66,598,718
City Development
By Development Status:
By Land Use:
* Area of Port is excluded from Totals
Residential Commercial Industrial
Under Planning 5,119,790 5,898,387 23,697,959
Graded 0 0 2,011,807
Under Development 6,857,163 1,097,604 9,788,930
Developed 876,059 408,764 10,842,255
Total * 12,853,012 7,404,755 46,340,950
0
5,000,000
10,000,000
15,000,000
20,000,000
25,000,000
30,000,000
35,000,000
40,000,000
45,000,000
50,000,000
Are
a (s
qm
)
Grand Total* 66,598,718
Port14,609,291 (sqm)
Port14,609,291
(sqm)
* Area of Port is excluded from Totals
Page 4
City Infrastructure
MAP KEY
Existing Gate
Future Gate
Completed Roads
Under Construction Roads
Under Design Roads
Roads & Waterways Utilities
•(4) Pump Stations
•(568) Fire Hydrants
Water Network (km)
•Sewage network covers BLS area only.
•Underground sewage Tanks in other communities with total capacity of (300 m3 each)
•Sewage network in IV is under design
Sewage Network (km)
•STP covers %37 of Irrigation consumption
•(1) STP Pump Station
Irrigation Network (km)
•(2) Permanent Substations operated by SEC
•(4) Temporary Substations operated by KAEC
•(6,700) Street lights
•(6,024) Landscaping lights
Electricity Network (km)
•(23) Mobile Towers by Mobily
Telecom Network (km)
230.0
130.0
250.0
900.0
79.0
* Kilometer (km) lengths are totals of Built Pipe/Duct networks per category
151.8 54.0Secondary Roads (km)
11.0Bicycle Ways (km)
3.1
•(3.1 km) of Constructed Canals
•(14.1 km) of Graded Wadi•(3) City Gates: Main Gate1, IV Gate3, and Haramain Gate in Under Construction.
•(52) Traffic Lights
•(8) Roundabouts
Primary Roads (km) Water Ways (km)
Page 5
Residential Commercial
•(2) High-End Communities
•(2) Beach Towers, and (4) Marina Towers
•(848) Apartments
•Total Area of (95,870 sqm) is Completely Developed
•(13) High-End Communities
•(3) Beach Communities, (7) Golf Communities, and (3) Townhouses Communities
•(2,355) Individual Plots, (159) Villas , and (270) Townhouses, are Under Development
•Total Development Area of (4,511,892 sqm)
•(7) Middle Income Communities
•(3,756) Individual Plots and (238) Villas, are Under Development.
•Total Development Area of (2,987,001 sqm)
• (1) Middle Income Community
• (389) Apartments, (144) Townhouses, (46) Paired Homes, and (30) Villas, are Completely Developed
• (342) Apartments and (30) Paired Homes, are Under Development
• (200,000 sqm) is Completely Developed from the total Development Area of (242,583 sqm)
•Affordable Apartment Buildings
•(98) Buildings with (1,441) Apartments, are Completely Developed
•Total Development Area of (150,000 sqm)
•Labor Accommodations
•(16) Buildings with a capacity of (2,784) beds, are Completely Developed
•Total Development Area of (36,900 sqm)
•(3) Operating Shops
•Total Operating Built-Up Area of (2,416 sqm)
•Meed (Mini Market), Panda (Grocery), and EEC Real Estate Services
Shops & Services (sqm)*
•(10) Operating Cafes/Restaurants
•Total Operating Built-Up Area of (2,170.8 sqm)
•BLS District: Piatto, Bhar, Bert’s, Fire Grill, Baskin Robins, ModoCafé (Beach), Modo Café (WFM), Subway, Burger King, Pizza Hut, and Steakhouse
Cafes & Restaurants (sqm)*
•(1) Hotel, and (2) Serviced Apartments/Villas
•Bay La Sun Hotel is 5-stars with (195) rooms in a Built-Up area of (21,000 sqm), Currently Operating
•Oceana has (50) serviced villas with Built-Up Area of (25,639sqm), Currently Operating
•The Views is a 4-stars Serviced Apartments with Built-Up Area of (24,374.6 sqm), Currently Under Development.
Hotels & Serviced Apartments (sqm)*
•Royal Greens Golf Course and clubhouse is (841,168 sqm) with Built-Up Area of (10,000 sqm) , Currently Under Development
•Esmeralda Sport Complex is (51,000 sqm) with Built-Up Area of (14,850 sqm), Currently Under Development
Leisure (sqm)*
•Total Leasable Built-Up Area of (69,308.7 sqm), (30,355.0 sqm) is Occupied (Operating and/orUnder Fit-out)
Office Spaces (sqm)*
6,657
3,649
71,014
40,850
94,371
* Square meter (sqm) Areas are total Built-up Areas of Built, Under Construction, and Under planning vertical constructions per category
Page 6
2,909,971
3,580,568
14,089
Building Material55,269
5%
Food77,208
7%
General664,662
61%
Pharma49,764
5%
Plastic93,898
9%
Logistics141,613
13%
21
•(61) Tenants over total Plots area of (5,819,941.4 sqm)
Factories (sqm)*
•(38) Operators over total plots area of (7,133,800.5 sqm)
•Warehouse Park is over a plots area of (30,433.0 sqm) in IV1B and Built-up area of (13,668 .0 sqm)
Warehouses (sqm)*
•NCB Data Center in IV3 over a plot area of (28,178.0 sqm)
Data Center (sqm)*
Operating Tenants
* Values are in Square Meters (sqm) per category
Industrial Social Infrastructure
•(2) Operational Educational Institutes
•TWA School: (10,500 sqm) with a capacity of (600) Students, currently over (537) Students are enrolled
•MBSC Post-Grad: (8,000 sqm) with a capacity of (300) Students, First semester will start in September 2017
•TVET Training Center: Under Planning with about (2,126 sqm)
Education (sqm)
•(2) Operational Hospitals
•FMC: (1,400 sqm) has (9) Clinics with a capacity of (15) hospital beds
•IV Clinic: (170 sqm) for Emergencies only and has (6) hospital beds.
Healthcare (sqm)
•(1) Fire Station with (770.6 sqm) and (4) Fire Trucks
•(2) Security Stations with total of (40 sqm) and (21) Security cars
•(107) Security cameras around the city
Safety & Security (sqm)
•(1) Temporary Gas Station in BLS Area
•Total tanks capacity of (80,000 Liters)
•(2) Pumps
•Land area of (1,015 sqm)
Services (sqm)
20,626
1,570
811
1,015
* Square meter (sqm) Areas are total Built-up Areas of Built, Under Construction, and Under planning vertical constructions per category
Page 7
K A E C D e v e l o pm e n t s :
Page 8
• King Abdullah Port`
• The World Academy
• Family Medical Center
• Juman Park
• Royal Greens
• Juman Karting
• Esmeralda Sports Complex
King AbdullahPort
Current
On Completion
For more info, please visit KAP’s website: https://www.kingabdullahport.com.sa/
Page 9
For more info, please visit KAEC’s website: http://www.kaec.net/live/
Page 10
Fully operational since Q3 - 2014Grades Offered: Nursery up to Grade 12Current Enrolment: Over 500 students
For more info, please visit KAEC’s website: http://www.kaec.net/live/
Page 11
• Operated by Dr. Soliman Fakeeh Hospital• In operation since September 2016 • FMC offers specialty clinics such OB/GYN, Ophthalmology, Orthopedic, and Dental Services; as well as Laboratory and Diagnostic Imaging services
WORLD CLASS EDUCATION
For more info, please visit Bay La Sun hotel’s website: http://www.baylasunhotel.com
Page 12
• Premium 5-star Business & Leisure hotel• 195 rooms and 6 suits • Operated by Alkhozama• In operation since 2013
Recipient of 2016 World Travel’s Saudi Arabia’s Leading Business & Leisure Hotel Award
For more info, please visit KAEC’s website: http://www.kaec.net/live/
Page 13• Juman Park is situated alongside the Bay La Sun Hotel and Marina • With around 70,000 sqm of open space that includes walkways, running tracks, cycling tracks, a mini golf course, games area and an amphitheater • The park is populated with art sculptures, refreshment stops and adventure playgrounds for children
AN EXCLUSIVE WORLD-CLASS COURSE
For more info, please visit Royal Greens’ s website: http://royalgreens.kaec.net/
Page 14
• 18-hole championship golf course in Al-Murooj District • Golf clubhouse sized 10,000sqm that consists of health
clubs, BBQ grills, juice bars, and conference rooms
Winner of two Best Leisure Development accolades from the International Property Awards and one accolade from City Scape
Official launch in Q4-2017 Soft launch took place in January
AN EXCLUSIVE WORLD-CLASS COURSE
For more info, please visit KAEC’s website: http://visit.kaec.net/discover/facilities/karting
Page 15
Our newly laid track is 700m long and 7 to 10 m wide; it consists of a variety of fast straights, long fast corners and a good mixture of slower corners (9 in total) to really test out every driver that goes on our track, from the beginner right through to the most experienced!
AN EXCLUSIVE WORLD-CLASS COURSEPage 16
• Project Area: 51,000 SQM• Total Built up Area: 14,850 SQM• Actual progress: around 63.7%• To be delivered in Q4-2017
• The Sports Club will include Indoor Youth Soccer, Cricket, and multipurpose courts for Basketball, Badminton, Tennis, Squash and Volleyball, men and women pools, Gymnasium, Fitness rooms, Aerobic Halls and Spinning, Jogging Track, Spa, Bowling Alley, Billiard and Snooker rooms, Rock climbing wall, Café, lounges and Seminar rooms
Page 17• Sponsored by the MiSK Foundation, KAEC held the Next Markhathon, a 2-day challenge for young marketing professionals• Sponsored by the General Entertainment Authority, KAEC hosted a concert by Omar Khairat, a world-renowned pianist • As part of the Family Business Speaker Series, MBSC and Babson Global hosted H.E Amr Al-Dabbagh
P r o j e c t s U n d e r D e v e l o pm e nt :
Page 18
• Hejaz District
• Beachside Hotel apartments
• Muhammad Bin Salman College (UG)
• Play District
• Culinary Arts Academy Project
• Juman Carnival
• Floating Water Park
• Hot Air Balloon (tethered)
• Conference and Exhibition Center
• Exclusive Desert Camps
HEJAZ DISTRICT & HIGH SPEED TRAIN Page 19
• Strategically located within the Western Region | Located between the two holy cities, Makkah and Madinah• Connecting 8.5 million inhabitants |Completion date*: Q1 2018
4.5 m Residents
1.3 m residents
0.3 m
consumers
KAUST&Thuwal
KAEC
120k residents
40k residents
2.5 m
residents
*According to a news article by Okaz published in February 2017.
AN EXCLUSIVE WORLD-CLASS COURSEPage20
MBSC is operated by Babson Global Programs Offered: Undergraduate degrees focusing on Business and Entrepreneurship; Graduate MBA degree; and Executive & Continuing EducationFor more info, please visit MBSC’s website: http://mbsc.edu.sa/
Page 21
• MBSC is a new private, higher education institution for both men and women• It has been established through an International partnership between Emaar The Economic City, Babson Global (a wholly-owned subsidiary of Babson
College, USA), Lockheed Martin under the umbrella of the Economic Offset Program in the Kingdom of Saudi Arabia and the MISK foundation• MBSC MBA program First semester will start in September 2017
AN EXCLUSIVE WORLD-CLASS COURSEPage 22
PLAY DISTRICT
Page 8
From top left to bottom right: 1. Floating Water Park2. Conference and Exhibition Center3. Exclusive Desert Camps4. Juman Carnival5. Hot Air Balloon (tethered)6. Beachside Hotel apartments7. Culinary Arts Academy Project
Page 23
K A E C F i n a n c i a l s , S e g m e n t B r e a k d o w n , a n d S t o c k P e r f o r m a n c e
Page 24
EEC’s Financial Growth Quarterly Breakdown
More Than 95 Global & Local Tenants in KAECQ1 2017Q2 2016
Revenue Net IncomeGross Profit
230
10080
Q3 2016
332
22
-81
132
52
-31
Q1 2016
46
0 0
181
85
0
53
Residential
Development
Industrial
Valley
Commercial
Development
Other Income
Order Intake RevenueRD
57%
IV
27%Commercial
0%
Other
Income
16%
Total 318M SAR
O r der I n t ake a n d R e venue Y T D 2 0 1 7 % B reakdown o f R e venue f o r Y T D 2 0 1 7
(SARS M)
318
116
-19
*Other Income: Constitutes value added services, service charges, Hotel, healthcare, DMO, RLO and income from education
Page 25
Q4 2016
445
293
127
E E C S t o c k P e r f o r m a n c e
Ticker Description:SASEIDX Index: Tadawul all share index SASETRMI Index: Tadawul all share real estate management and development indexEMAAR AB Equity: Emaar Economic City’s stock on Tadawul
One year chart from March 2016 to March 2017: EEC stock has risen 22% year over year.
Page 26
KAEC Master Plan Residential Development
Page 27
Competitive Edge :
• Corporate Relocation Program has been launched aimed at entrepreneurs, SMEs, and established businesses to relocate to KAEC: • 10year interest-free payment plan for Saudis
• 20% discount on annual rent
• Free premium education for a total of two children
• Rent-free for the first 5 years on office space
• Transportation
• Competitive pricing offers investment upside
• Good infrastructure relative to other major cities regionally
• MoU signed with Ministry of Housing for the development/delivery of affordable housing solutions.
• Several launches expected in H2 - 2017
Payment plan: 60 months of installments for land and vertical with a down payment of 10% for land and 20% for vertical
Residential Development Game Changers
Residential Development
Page 28
Residential Development Breakdown for Q12017
Sales
GP
Residential LandVertical (excluding Lease)
25
Total area sold
Gross Margin
8
21
74
4,200 SQM 12,500 SQM
14%
60%
(SAR in millions )
Revenue 58
123
Page 29
Vertical Reservations
25
3,740 SQM
Land Reservations
84
21,060 SQM
• All numbers reflected in Q1 2017 are under IFRS convention while earlier quarters where under SOCPA
Residential SalesProduct Statistics 2012 - 2016
Product 2012 2013 2014 2015 2016
VerticalNet Order Intake (in million, SAR) 21 9 272 369 484
Units 12 6 178 641 534
LandNet Order Intake (in million, SAR) 167 673 655 776 148
Units 136 403 819 912 132
TotalsNet Order Intake (in million, SAR) 188 682 927 1,149 632
Units 148 409 997 1,767 666
Bench Mark Analysis Jeddah vs. KAEC*
4,489 3,746 4,807
3,583 - 4500 5,700
10,160
Affordable Housing Medium Income Housing High Income Housing
KAEC Jeddah
• Jeddah Real Estate Prices - Colliers International Market Study; input from persons knowledgeable about the subject matter• KAEC’s MI and HI Housing categories include vertical sales as well as land sales
SAR/SQM
Page 30
Residential DevelopmentVertical Project Breakdown up to March 2017
*Sellable area: total area sold plus area to be launched/sold**Sale price per SQM reflective average prices for the respective community/phase
Page 31
Al Shurooq Apartment Al Shurooq Affordable 1050 390 135,064 4,489 Launched
Al Waha Apartment Waha Medium Income 388 - 42,718 5,948 Launched
Al Waha 1B Apartment Waha Medium Income 116 256 33,708 Launched
Beach 1 Apartment BLS High Income 116 - 21,490 12,374 Launched
Beach 2 Apartment BLS High Income 116 - 21,684 13,200 Launched
Marina 1 Apartment BLS High Income 191 1 21,096 12,291 Launched
Marina 2 Apartment BLS High Income 192 - 21,058 12,108 Launched
Marina 4 Apartment BLS High Income 116 - 21,498 12,066 Launched
Al Waha (Town House) Town House Waha Medium Income 144 - 34,565 4,735 Launched
Al Waha (Villa) Villa Waha Medium Income 76 - 6,597 8,364 Launched
BC1 Villa Villa Al Muroj High Income 5 - 11,803 5,190 Launched
GC1 Villa Villa Al Muroj High Income 12 - 7,567 4,995 Launched
GC2 Villa Al Muroj High Income 147 - 126,382 5,375 Launched
Al Talah 1.3 Villa Al Talah Medium Income 179 - 67,225 5,950 Launched
Al Talah 3 villas Villa Al Talah Medium Income TBD 59 TBD TBD Not Planned
Al Talah 4 & 5 villas Villa Al Talah Medium Income TBD TBD 105,000 4,988 Not Planned
TH2 villas Villa Al Muroj Medium Income TBD TBD 74,977 7,757 Not Planned
Coastal Towers Apartment BLS High Income TBD TBD TBD TBD Not Planned
Vertical Projects 2,848 705 583,660 7,989
Total
Unreleased
Units
Sellable Area Sale Price Per
SQMLaunch DateCommunity Type District Target Income
Total
Released
Units
Residential Development Land Project Breakdown up to March 2017
Page 32
*Sellable area: total area sold plus area to be launched/sold**Sale price per SQM reflective average prices for the respective community/phase
BC1 Land Al Muroj High Income 103 - 215,946 1,512 Launched
BC2 Land Al Muroj High Income 392 - 452,744 2,023 Launched
BC3 Land Al Muroj High Income 165 55 196,520 2,714 Launched
GC1 Land Al Muroj High Income 91 - 82,947 1,250 Launched
GC3 Land Al Muroj High Income 220 15 182,514 1,616 Launched
GC4 Land Al Muroj High Income - - 168,475 1,450 Not Planned
GC5 Land Al Muroj High Income - - 191,563 1,500 Not Planned
GC6 Land Al Muroj High Income - - 134,397 1,400 Not Planned
Al Talah 1.1 Land Al Talah Medium Income 145 - 63,094 657 Launched
Al Talah 1.2 Land Al Talah Medium Income 279 - 148,628 691 Launched
Al Talah 3 Land Al Talah Medium Income 511 123 357,784 940 Launched
Al Talah 4 Land Al Talah Medium Income 411 114 215,673 1,400 Launched
Al Talah 5 Land Al Talah Medium Income 504 125 268,650 1,400 Launched
TH3 Land Al Muroj High Income - - 112,448 1,450 Not Planned
TH4 Land Al Muroj High Income 253 - 114,843 1,514 Launched
Land Projects 3,074 432 2,906,226 1,434
Community Type District Target Income
Total
Released
Units
Total
Unreleased
Units
Sellable Area Sale Price Per
SQMLaunch Date
Residential Sales Summary up to March 2017
% Presales(Sold and Reserved)
% Unsold% Leased
Sold
91%
Unsold
9%
%Sold Land Sales
Page 33
Sold
59%
Unsold
27%
Leased
14%
%Sold Vertical Development Sales
99%
98%
68%
100%
58%
100%
98%
98%
91%
86%
96%
1%
2%
32%
0%
42%
0%
2%
2%
9%
14%
4%
103
392
165
91
220
145
279
511
411
504
253
BC1
BC2
BC3
GC1
GC3
Al Talah 1.1
Al Talah 1.2
Al Talah 3
Al Talah 4
Al Talah 5
TH4
Total R
eleased
Un
its
Residential Land Sales Summary
72%
65%
16%
78%
23%
86%
26%
23%
28%
57%
100%
100%
19%
82%
8%
20%
0%
16%
57%
14%
42%
34%
6%
7%
0%
0%
0%
20%
15%
84%
5%
20%
0%
32%
42%
66%
37%
0%
81%
18%
1050
388
116
116
116
191
192
116
144
76
5
12
147
179
Al Shurooq
Al Waha
Al Waha 1B
Beach 1
Beach 2
Marina 1
Marina 2
Marina 4
Al Waha (Town House)
Al Waha (Villa)
BC1 Villa
GC1 Villa
GC2
Al Talah 1.3
Total R
eleased
Un
its
Residential Vertical Sales Summary
Major Developments Industrial Valley
Page 34
R E S I D E N T IA L S A L E S S U M M A R Y u p t o S e p 2 0 1 6
KAEC Master Plan Industrial Valley
Page 35
Industrial Valley
*Rent is collected 1 year in advance and prorated through out the year whereas, sales revenues are recognized immediately in the month of sale.
• IV secured two deals worth of SAR 220 million
• IV continues to work on its offerings and its business strategy with the main focus on: • Special zones within IV : Bonded Zone, Gas Zone, and warehousing
• Broader connectivity through the operational King Abdullah Port along with the HaramainHigh Speed Railway and the planned Saudi Land Bridge
• IV has signed deals at record lease and sale rates• Current lease is SAR 16-18 / sqm
• Current sale is SAR 585 / sqm
IV Game Changers and Q1 updates
Page 36
Industrial Valley Sales and Lease Segment Breakdown up to March 2017
Phase1A and 1B
Phase 4
Phase 2.1,2.2,2.3, and 2.5
Phase 3 A,B,C,D,E, and F
Industrial Valley
SoldLeased
75%
15%
69%
69%
Tech Park 8%
Page 37
To be launched
Area Available for Lease (in million SQM)
3.06
0.95
6.70
0.50
2.12
Area Available for Sale (in
million SQM)
7.02
2.74
2.7 To be launched
3.6%
67
11
14
0
5
10
15
2012 2013 2014 2015 2016
18
Industrial Valley Year on Year Performance
Sales and Lease Revenue & Price Trend
Product 2013 2014 2015 2016
Sales Revenue 480 219 105 256
Product 2013 2014 2015 2016
Operating Revenue 28 33 47 59.2
Actual Sale Price/SQM (YoY)
Product 2013 2014 2015 2016
Sales Price (SR/sqm) 247 413 490 585
Lease Price (SR/sqm) 7 11 14 18
200
300
585545
445
0
50
100
150
200
250
300
350
400
450
500
550
600
2012 2013 2014 2015 2016
22%
48%
50%
30%
49%
19%
Actual Lease Price/SQM (YoY)
*Revenue and Sales figures are in millions
Page 38
7%
40%
KAEC IV Tenants
Approximately120 Global & Local Tenants in KAEC
Page 39
DISCLAIMER• This presentation (Presentation) has been prepared by Emaar the Economic City (EEC) and/or its subsidiaries based on information available to it internally and
third party sources. This Presentation does not purport to contain all the information that a prospective investor may require in connection with any potential investment in EEC. You should not treat the contents of this Presentation, or any information provided in connection with it, as financial advice, financial product advice or advice relating to legal, taxation or investment matters. No representation or warranty is made by EEC or any of its advisers, agents or employees as to the accuracy, completeness or reasonableness of the information in this Presentation or provided in connection with it. No information, including but not limited to numbers, maps, drawings, or maps contained in this Presentation or any other written or oral communication in connection with it is, or shall be relied upon as, a promise or representation and no representation or warranty is made as to the accuracy or attainability of any estimates, forecasts or projections set out in this Presentation. No liability will attach to EEC, with respect to any such information, estimates, forecasts or projections. EEC does not accept responsibility or liability for any loss or damage suffered or incurred by you or any other person or entity however caused (including, without limitation, negligence) relating in any way to this Presentation including, without limitation, the information contained in or provided in connection with it, any errors or omissions from it however caused (including without limitation, where caused by third parties), lack of accuracy, completeness, currency or reliability or you, or any other person or entity, placing any reliance on this Presentation, its accuracy, completeness, currency or reliability. EEC does not accept any responsibility to inform you of any matter arising or coming to EEC’s notice after the date of this Presentation which may affect any matter referred to in this Presentation. Any liability of EEC, their advisers, agents and employees to you or to any other person or entity arising out of this Presentation including pursuant to any applicable Saudi law is, to the maximum extent permitted by law, expressly disclaimed and excluded.
• The distribution of this Presentation is governed by the Expression of Interest and Confidentiality Agreement as well as by law in certain jurisdictions. Recipients and any other persons who come into possession of this Presentation must inform themselves about, and observe any such restrictions.
• Future matters:
• This Presentation contains reference to certain intentions, expectations, future plans, strategy and prospects of EEC. Those intentions, expectations, future plans, strategy and prospects may or may not be achieved. They are based on certain assumptions, which may not be met or on which views may differ and may be affected by known and unknown risks. The performance and operations of EEC may be influenced by a number of factors, many of which are outside the control of EEC. No representation or warranty, express or implied, is made by EEC, or any of its directors, officers, employees, advisers or agents that any intentions, expectations or plans will be achieved either totally or partially or that any particular rate of return will be achieved. Given the risks and uncertainties that may cause EEC’s actual future results, performance or achievements to be materially different from those expected, planned or intended, Recipients should not place undue reliance on these intentions, expectations, future plans, strategy and prospects. EEC does not warrant or represent that the actual results, performance or achievements will be as expected, planned or intended.
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