Trust. And how to keep it. Bank Gutmann presents itself

1. Trust. Andhowtokeep it.Bank Gutmann presentsitself Nikolaus Görg May 22, 2012

2. Whichwaytogo? Thereisalways a crisissomewhere! Ourtaskas private bankersandwealthmanagersisto check, whetherweare still on therighttrack! The highlevelofuncertainty in thisbusinessrequires an enormousamountofconfidenceandtrust.

3. What are the characteristics of « trust » • Itstartsfromzero! But onlyonce! Thereis also distrust! • Ittakes time tobuild! • Itisasymmetric! Trust takesmuchlongertoattainthanittakesto lose it. • It also requiresmuchmoreefforttoregainit a second time! • TRY NOT TO LOSE IT! Level oftrust time

4. Whatdoesittake to turn a crisisinto an opportunity

5. So how to attain and keep trust • Managing trustmeansmanagingexpectations! • Managing expectationsrequiresunderstandingandrespectingyourcounterpart! • Avoiddisappointmentsat all costs, goodexperienceisthemost powerful „trust-generator“! • Aligninterests, avoidconflictsofinterests! • Utilizeindependentandobjectiveinstitutionsas intermediaries ortoverifythequalityofyourbusiness.

6. “Large enough to deliver, small enough to care.” Rudolf Stahl, member of the supervisory board Objectiveness based on independence Responsibility towards society and science Flexibility and resolution Comprehensive advice and customised investment strategies Bank Gutmann – the values of a successful private bank Personal responsibility and entrepreneurial commitment Ideal size Independence Managed by co-owners Social responsibility Clear governance Focus on solutions Continuity Our Client Long-standing client relationships based on understanding and trust

7. More commitment, continuity and support –you can get this only from a bank that is managed by partners f.l.t.r. Elena Hartmann, Peter Karst, Adolf Hengstschläger, Matthias Albert, Frank Lippitt, Ilinca von Derenthall,Friedrich Strasser, Gordian F. Gudenus, Norbert Klewan, Richard Igler, Anton Resch

8. Our clients place their trust in our stability and reliability – even in difficult times Client assets EUR bn Offices Clients served from Austria As of March 31, 2012

9. Bank Gutmann – the Austrian specialistin holistic wealth management • Basis: Gutmann’s “taking-the-measure“ processIdentifies needs and avoids misunderstandings • Customised and independent wealth managementOur responsibility for your personal investment goals • Active investment adviceOur expertise forms the basis for your decisions • Information platform for foundations, trusts, entrepreneurs and their familiesSharing experience and relevant information • Access to an international network of experts Support in complex cross-border asset management Institutional investors (banks, insurers, pension funds) Entrepreneurs Families and private individuals Trusts and foundations Perfect solutions to different needs

10. Gutmann wealth management with best-of-breed consultants Research • Independent research partners & • WU Gutmann Center for Portfolio Management • Provide the research needed for taking the right decisions • GaveKal (Hongkong, London) • Infanger Technology (California) • BCA Research (New York) • Horace „Woody“ Brock (Chandler, Arizona) Your Gutmann portfolio Customised Investment strategy • „best of breed“securities specialists • are world-wide partners • for Gutmann‘s portfolio management • Lazard (New York, Frankfurt) • Nippon Finance Management, Kaisha (Tokio) • Hamilton Lane (Philadelphia) • Royce & Associates (New York) • Gutmann client • High net worth families and individuals • Foundations and trusts • Insurance companies and pension funds Gutmann client and her relationship managers Listening and taking the measure for customised solutions Investment

11. Your needs control what we do – we manage your wealth through a customised and structured approach Planning Implementing Control • Definition of customised investment strategy • Investment approach, range management • Target archievement, reporting • The basis: Gutmann‘s taking-the-measure process • Initial meeting – analysis of needs • Strategic concept • Discussion of strategy

12. Yes! Youcanmakemoney! Global balancedportfolio (max. 50% equities, min. 50% bonds).

13. Experienced advisors are the mainstays of Gutmann's client relationship management Elena HartmannPhone: +43-1-502 20-386, elena.hartmann@gutmann.at Elena Hartmann is Deputy Head of International Private Banking at Bank Gutmann AG, partner of Bank Gutmann AG and Head of the CIS (Commonwealth of Independent States) region. Elena Hartmann graduated from the Moscow State Institute of International Relations and has a Masters Degree from Vienna University of Economics and Business. She joined Bank Gutmann in 1997. Lyubomyra Dolhasheva Phone: +43-1-502 20-395, lyubomyra.dolhasheva@gutmann.at Lyubomyra Dolhasheva is a Director at Bank Gutmann AG responsible for private clients in the CIS (Commonwealth of Independent States) region. She joined Bank Gutmann in 2007 after graduating from Vienna University of Economics and Business.

14. Disclaimer • This is a marketing communication. Investments in financial instruments are exposed to market risks. Past performance is not a reliable indicator of the future results of an investment. • Tax treatment depends on each client's personal circumstances and may change in the future. • Bank Gutmann AG hereby explicitly points out that this document is intended solely for personal use and for information only. Publishing, copying or reproduction shall not be permitted without the consent of Bank Gutmann AG. The contents of this document have not been designed to meet the specific requirements of individual investors (desired return, tax situation, risk tolerance, etc.) but are of a general nature and reflect the current knowledge of the persons responsible for compiling the materials at the copy deadline. This document does not constitute an offer to buy or sell or a solicitation of an offer to buy or sell securities. • Bank Gutmann Aktiengesellschaft • Schwarzenbergplatz 16, 1010 Vienna, Austria • Phone: +43-1-502 20-0, Fax: +43-1-502 20-249 • mail@gutmann.at, www.gutmann.at