INTRODUCTION TO NBU INVEST GROUP:

1. INTRODUCTION TO NBU INVEST GROUP: General Overview and Cooperation Directions

2. OVERVIEW ACTIVITY DEVELOPMENT COOPERATION PARTNERS INTRODUCTION TO NBU INVEST GROUP: General Overview and Cooperation Directions NBUIG: GENERAL INFORMATION KEY FACTS Registered capital – USD 31,1 mln. 100% subsidiary of the National Bank for Foreign Economic Activity of the Republic of Uzbekistan Founded on March 31, 2008

3. OVERVIEW ACTIVITY DEVELOPMENT COOPERATION PARTNERS NBUIG: GENERAL INFORMATION INTRODUCTION TO NBU INVEST GROUP: General Overview and Cooperation Directions LEGAL FRAMEWORK The decrees stipulate active involvement of commercial banks into direct management over enterprises in Uzbekistan: Decree of the President of the Republic of Uzbekistan No.4053 dated November 18, 2008 Directive of the President of the Republic of Uzbekistan No.4010 dated November 19, 2008

4. OVERVIEW ACTIVITY DEVELOPMENT COOPERATION PARTNERS INTRODUCTION TO NBU INVEST GROUP: General Overview and Cooperation Directions NBUIG: GENERAL INFORMATION ACTIVITY GOALS Restructuring of enterprises of Uzbekistan Asset management Attracting capital investments

5. OVERVIEW ACTIVITY DEVELOPMENT COOPERATION PARTNERS INTRODUCTION TO NBU INVEST GROUP: General Overview and Cooperation Directions NBUIG: GENERAL INFORMATION STRATEGIC OBJECTIVES ATTRACTING SELLING OF INTERNATIONAL AUDITING AND CONSULTING COMPANIES FOREIGN INVESTMENT COMPANIES FOREIGN EXPERTS industrial enterprises TO to improve effectiveness of management by manufacturing enterprises for participation in capital of NBUIG to develop joint business in Uzbekistan to optimize activity of NBUIG and the companies under management STRATEGIC FOREIGN INVESTORS

6. OVERVIEW ACTIVITY DEVELOPMENT COOPERATION PARTNERS ACTIVITY’S KEY DIRECTION – ASSET MANAGEMENT INTRODUCTION TO NBU INVEST GROUP: General Overview and Cooperation Directions ASSET MANAGEMENT BESHARIQ TEXTILE Textile Construction Materials enterprises Agro Processing / Food Industry industries Tanning Pulp Production

7. OVERVIEW ACTIVITY DEVELOPMENT COOPERATION PARTNERS ACTIVITY’S KEY DIRECTION – ASSET MANAGEMENT INTRODUCTION TO NBU INVEST GROUP: General Overview and Cooperation Directions AGGREGATE FIGURES OF NBUIG’S ACTIVITY 2010 2011 2012 2009 11 14 15 5 Enterprises under management USD 13.3mln USD 17.8mln USD 11.1mln USD 3.4 mln Investments Employment 1598 1960 2406 869 USD 18.35mln USD 23.1mln USD 23,6mln USD 5.1 mln Production USD 7.46mln USD 11,5mln USD 16mln USD 3.9 mln Export

8. OVERVIEW ACTIVITY DEVELOPMENT COOPERATION PARTNERS ACTIVITY’S KEY DIRECTION – ASSET MANAGEMENT INTRODUCTION TO NBU INVEST GROUP: General Overview and Cooperation Directions ENTERPRISES FOR ILLUSTRATION: CHINOZ TEXTILE Establishment date: December 25, 2008 Chinoz To’qimachi Ltd., JV (started in 2001) Bankrupted company: 5300 tons of combed cotton yarn Ne 30/1 per year, incl.2500 tons of severe knitted fabric per year Production capacity: Equipment manufacturers: Ohtori-Trützschler,Howa,Toyota,Muratec (Japan), Vanguard(USA), Atlas Copco(Belgium),  Uster(Switzerland), Mesdan (Italy) Number of employees: 550 Curretly – Turkey, iran Being negotiated – Italy, Russia, Ukraine Main importing countries:

9. OVERVIEW ACTIVITY DEVELOPMENT COOPERATION PARTNERS ACTIVITY’S KEY DIRECTION – ASSET MANAGEMENT INTRODUCTION TO NBU INVEST GROUP: General Overview and Cooperation Directions ENTERPRISES FOR ILLUSTRATION: ASIA PIPEPLAST Establishment date: December 25, 2008 Hobas-TAPO, JV (started in 2000) Bankrupted company: 486.5 kmof CC-GRP (centrifugally cast glass fiber reinforced) pipes and fitting per year, diameter 200–2400 mm. Production capacity: Equipment manufacturers: Hobas (Germany) Number of employees: 100 Main areas of CC-GRP pipes application: Sewage and water-supply networks Main advantages of CC-GRP pipes: 70 years guarantee – long term economic efficiency. High level of rigidity and resistance to external exposure – long term operation life. Low weight, coupling connection – easy and fast installation. Production capacities of Asia Pipeplast LLC are secured by the demand of the internal market until 2020.

10. INTRODUCTION TO NBU INVEST GROUP: General Overview and Cooperation Directions OVERVIEW ACTIVITY DEVELOPMENT COOPERATION PARTNERS DEVELOPING COMPANY’S ACTIVITIES NBUIG’s DEVELOPING ACTIVITIES Consulting services Marketing Brokerage and Depositary services Corporate advisory • Market researches: • commodities • sales promotion • Brokerage services • commodities • securities Advisory to investors Introduction and access to local market • Market surveys: • cotton • nonferrous • materials Depositary service

11. INTRODUCTION TO NBU INVEST GROUP: General Overview and Cooperation Directions OVERVIEW ACTIVITY DEVELOPMENT COOPERATION PARTNERS COOPERATION WITH FOREIGN BUSINESS PARTNERS CREATION OF JOINT-VENTURE ON THE BASIS OF NBUIG ADVANTAGES CAPABILITIES What are we seeking for? Uzbekistan Government and NBU support No.1 player in the market of financial services in Uzbekistan EXPERIENCE EXPERTISE GLOBAL TRUST High capitalization Diversification of business, involvement of the Partner’s potential into organization, management and development of business Expansion of global presence – gateway to Central Asia High capitalization Use of NBU and the Partner’s brands

12. INTRODUCTION TO NBU INVEST GROUP: General Overview and Cooperation Directions OVERVIEW ACTIVITY DEVELOPMENT COOPERATION PARTNERS COOPERATION WITH FOREIGN BUSINESS PARTNERS STRATEGIC INVESTMENTS – M&A Experience of sales of the companies under management CREATION OF JOINT-VENTURES ON THE BASIS OF COMPANIES UNDER MANAGEMENT 15 NBU’s enterprises Total cost USD 269 mln Tax privileges. Investment Agreement – guarantee for profit and capital repatriation

13. INTRODUCTION TO NBU INVEST GROUP: General Overview and Cooperation Directions OVERVIEW ACTIVITY DEVELOPMENT COOPERATION PARTNERS COOPERATION WITH FOREIGN BUSINESS PARTNERS SALES OF MANUFACTURED PRODUCTS

14. INTRODUCTION TO NBU INVEST GROUP: General Overview and Cooperation Directions OVERVIEW ACTIVITY DEVELOPMENT COOPERATION PARTNERS COOPERATION WITH FOREIGN BUSINESS PARTNERS MACHINERY SUPPLY. EXPERIENCE EXCHANGE. MACHINERY SUPPLY: NON-TECHNICAL COOPERATION: • - Reconstruction, modernization and • expansion of production. • - Spare parts and components. • Experience exchange. • Personnel training and education.

15. INTRODUCTION TO NBU INVEST GROUP: General Overview and Cooperation Directions OVERVIEW ACTIVITY DEVELOPMENT COOPERATION PARTNERS NBUIG’s KEY PARTNERS KEY PARTNERS CHAMBER OF COMMERCE AND INDUSTRY OF UZBEKISTAN ITALIAN-UZBEK CHAMBER OF COMMERCE INTERNATIONAL FINANCIAL INSTITUTIONS SGS SA (Switzerland) • technical audit • ISO 9001:2008 • technical assistance • experience exchange • cooperation in • personnel training • foreign investors • equipment manufacturers • production distribution • raw material and spare parts • technical expertise

16. INTRODUCTION TO NBU INVEST GROUP: General Overview and Cooperation Directions WWW.NBUIG.UZ More information about NBU Invest Group and contact details are available at the corporate website at www.nbuig.uz