0. May 2014 - UK-Cameroon Trade & Investment Forum
Actis Energy: Electricity infrastructure investing across the emerging markets
May UK-Cameroon Trade & Investment Forum

1. Actis: Emerging markets specialist
60 years experience investing in the emerging markets
Actis is a private equity firm with a unique heritage and a long standing knowledge of the emerging markets
Actis became independent in 2004 from CDC1, a development fund created in 1948, with whom it continues to have a close relationship
Actis invests in three asset classes: Electricity, Private Equity and Real Estate
Brazil
China UK
South Africa
India
Egypt
Singapore
Kenya
Nigeria
Office locations
Electricity – Generation, Transmission and Distribution
Private Equity
Over $5bn raised/invested over 10 years
Real estate
(sub-Saharan Africa only)
Over $500m raised/invested over 10 years
Actis Energy 1: US$750m (2002)
Actis Energy 2: US$750m (2009)
Actis Energy 3: ~US$1bn (2013)
1 - CDC is UK’s DFI, similar to Proparco of France

2. Actis has invested in over 40 energy investments in the last ten years
Actis Energy: A global footprint in electricity distribution and generation
Actis has invested in over 40 energy investments in the last ten years 19
Countries in which energy investments transacted
9540MW
Generating Capacity
(Funds 1 and 2)
>7000
Employees in the Actis electricity sector
$1.13bn¹
Capital Deployed
15m
Electricity customers served2
London
Mumbai
San José
São Paulo
Countries in which the Actis Energy Team has had, or currently has, presence
Actis Energy Team offices
Capital deployed in Fund 1 and Fund 2 at 30 September 2012
Represents approximately 2.9m connection points 1

3. Actis Energy: experience by sector
Transmission & Distribution Networks with 2.9m connections, serving 15m customers
2.2 GW Thermal Generation
Uganda: ~600,000 connections, connecting 50,000 customers annually. 25,000km of MV and LV network
Guatemala: 1.5m connections, connecting 25,000 customers annually. Network consists of 30,000 km of LV lines and 34,000 of MV lines
Morocco*: 1.0m connections covering the three cities of Rabat, Tetouan and Tanger, connecting 25,000 customers annually
Cote D’Ivoire: 288MW Azito plant in operation, with an additional 139MW expansion in construction
Tanzania: 180MW Ubungo power plant in operation, with Songas gas processing facility, 225km gas pipeline
Kenya: 74MW Tsavo plant in operation
India: 916MW gas fired plant, with 1600MW under development. 540MW of thermal plant in construction.
330MW Hydro Generation
457 MW Renewable Generation
India: 330MW hydro plant in construction, currently developing 370MW
South Africa: 100MW solar, 138MW wind farm
Honduras: 102MW wind farm
Costa Rica: 73MW wind farm
Nicaragua: 44MW wind farm
Actis has also previously:
Bolivia: Owned and operated a 203MW hydro plant in Bolivia and completed 17.5MW expansion, via Globeleq
Peru: Held minotiry equity interest in energy company Edegel, with 1015MW of hydro capacity
Panama: owned a 50% interest in a 300MW hydro plant in Fortuna
* Morocco transaction is pending completion 1

4. Actis Energy: Investments in Africa
Actis currently has over 540MW of power projects in operations and 380 MW in construction
Actis also owns Umeme, Uganda’s national distribution company, and recently completed a transaction earlier this year to acquire two integrated utility companies in Morocco
Morocco: Amendis & Redal (100% ownership)
Investment made in 2013 (consents underway)
3 Distribution concessions
3,000,000 customers
Cote d’Ivoire: Azito (77% ownership)
Increase in shareholding completed in 2010
288MW Gas generation plant
139MW Gas expansion project underway
Largest gas fired plant in West Africa, generating more than a third of country’s electricity supply
South Africa: REPP (50.1% ownership)
Investment made in 2012
238MW wind and solar plants
Currently under construction
Tanzania: Songas (60% ownership)
Investment made in 2003
180MW gas generation
Gas processing facility (0.1 TCF), a 225 km sub-sea and onshore gas pipeline, and the Ubungo power station, which currently supplies a third of Tanzania's electricity needs, the largest supplier in the country
Kenya: Tsavo (30% ownership)
Investment made in 2000
74MW HFO generation
Kenya’s first IPP
Uganda: Umeme (100% ownership until 2012, 60% ownership since IPO)
Investment made in 2005
Distribution company
Egypt: Sidi Krir (100% ownership)
687MW gas fired IPP
South Africa: Kelvin (100% ownership)
600MW Coal
Distribution
Generation
Previous investment 1

5. Actis Energy: Partnerships in Africa
Actis has a history of working closely in collaboration with the host governments of the countries where our investments are made
Morocco: Amendis & Redal (100% ownership)
Concession agreement with Municipalities of Rabat, Tanger and Tetouan
Cote d’Ivoire: Azito (77% ownership)
24 –year original concession agreement from plus concession extension of 20 year commencing at COD of expansion (2015 )with the Ministry of Energy and Ministry of Finance
Raised debt of $345m for expansion project (IFC, Proparco, FMO, EAIF, DEG, BIO, BOAD)
South Africa: REPP (50.1% ownership)
20-year PPA with Eskom; Implemntation Agreement with Department of Energy
Raised debt of $416m, (Absa, DBSA, Liberty Group Ltd., Future Growth Asset Management, SANLAM)
Tanzania: Songas (60% ownership)
20-year PPA with Tanesco
Fuel Supply Agreement with TPDC
IA with the Government of Tanzania
Raised debt of $156m (IDA, EIB) and assumed a further $41m of existing debt (SIDA, IDA)
Kenya: Tsavo (30% ownership)
20-year PPA with KPLC
Fuel Supply Agreement with CALTEX
Raised debt of $70m (IFC, DEG, CDC)
Uganda: Umeme (60% ownership)
Concession agreement with the Ministry of Finance
Tariff setting with the ERA
PSA with UETCL, Government transmission company
Egypt: Sidi Krir (100% ownership)
PPA with Egyptian Energy Holding Co.
Fuel Supply Agreement with Egyptian Natural Gas Company
South Africa: Kelvin (100% ownership)
PPA with City Power Johannesburg
Distribution
Generation
Previous investment 1

6. Actis Energy Distribution: Umeme case study
Actis took over the ownership of Umeme, the national monopoly electricity distribution company of Uganda, following a privatisation process in In a few years, Actis was able to transform the business:
Investment
Invested over $166m in the network
Raised first external debt with US$25 million IFC facility in and currently raising $170m in 2013
In 2013, $54m will be invested into the network
Customer Service
Considerable investments in technologies have been made:
17,000 pre-payment meters have been installed to date, with a plan to roll out universal pre-payment, increasing to 40,000 by 2013 end
Mobile money payment options, SMS and e-billing have improved collection rates from ~70% in 2005 to 94% in % of revenue is collected via e-billing.
Automatic meter readings are operational for 2,000 customers and are being rolled out to an additional 14,000 customers by 2014
Lifeline tariff introduced for low consumption consumers
Toll-free customer service number launched 1

7. Actis Energy Distribution: Umeme case study
Staff development
100% of employees were transitioned to Umeme as part of the privatisation process
A total of 971 training days have been registered between January to May Training includes technical e.g. Systems Operating Regulations (SOR), Open Integrated Customer System (OICS), safety, environmental and leadership
New training centre is under construction, opening planned for Q1 2014
Performance based culture cultivated, with annual performance bonuses for the year 2012 linked to individual and department, district performance
Share ownership as part of the November 2012 IPO, all employees received shares in Umeme
Improved safety
Embedded safety culture for employees, contractors and the public substantially reducing injuries over the past few years
New programs implemented include extensive school education programmes and a toll-free 24-hour safety helpline
prompt response of the field teams on the ground (improved response time from half a day in 2005 to current average of 20 minutes) 1

8. Actis Energy Distribution: Umeme case study
Expansion of network
Increased customer connections from 292,000 to 513,000
55,000 new customers added in 2012, a 12% growth from 2011
Average connection times reduced from 14 days in 2010 to 7 days in 2012
New billing system commissioned in 2009
Loss Reduction
Reduced losses by 14% over the past 7 years
Investment in network to address technical losses (including ariel bundle conductors, bulk metering, new substations, capacitor banks)
Automated Meter Reading system for industrial customers
Prepayment meters for all new domestic customers
Improvement in revenue management cycle
Patrols and public sensitization
2013 target is 23.5%
YTD SAIDI and CAIDI figures: 1

9. Actis Energy Distribution: Umeme case study
Umeme launched an IPO (40% stake) in 2012 in the Uganda Stock Exchange – and was the first cross listing from Uganda to Kenya
Shares were oversubscribed
Diversified shareholding with:
National retirement fund
International Finance Corporation
Other institutions
All 1,300 employees
More than 5,000 small shareholders (via a direct access program for subscribers
Dividends: 5% payout ratio
Continued operational performance has resulted in increased share price of 350USh/share today

10. Actis Value Creation
Introduce ourselves 1

11. What Actis brings to the electricity sector of Cameroon
Actis’ vision is to be the Government’s partner of choice for distribution and generation projects, providing safe, reliable, and affordable electricity in Cameroon
Deep sector knowledge: The Actis network consists of power project developers, engineers, environmental and safety experts. Actis believes in working closely with sector stakeholders including the Government, regions, municipalities and ARSEL to share this expertise and enable training opportunities across the network
Relationship with international institutions: Actis has considerable experience working with financing institutions and will be able to assist the sector with sustainable approaches to financing solutions
Thought leadership: Actis has received several awards for its pioneering work in the electricity sector in Africa and continues to help shape country sector planning and set best practice standards
Umeme (Uganda): finalist for the ‘Sustainable Investment of the Year’ for the ‘FT/IFC Sustainable Finance Awards in 2013
Azito Expansion (Cote d’Ivoire): awarded “Power Deal of the Year” by the Infrastructure Journal and “African Power Deal of the Year” by Project Finance International
Songas (Tanzania): awarded the Tanzania Frost and Sullivan Technology Leadership Award for best practice, plant reliability and overall project success. 1

12. Actis vision for the business
Actis’ investment strategy is based on identifying, supporting and strengthening businesses with high growth potential to create long term value
1. Continuity of Service
Focus on customer service, no disruptions to existing service during transition
Prioritise safety of the employees , contractors and the public
2. Investment
Investment into critical network infrastructure
Equity contribution
Mobilise additional funding via strong relationships with lenders and multilateral institutions
3. Quality of Service
Focus on loss reduction, unserved energy, new connections
Best practice sharing and access to technical expertise across the Actis portfolio 2
4. Employment
Continuity of employment rights
Invest in training and development programs
Empower local management teams
5. Corporate Governance
Establish local boards with sub-committees
Develop partnerships with stakeholders (regulators, local communities)
Focus on international and national environmental standards
01/04/2017

13. May 2014 - UK-Cameroon Trade & Investment Forum
Actis Energy: Electricity infrastructure investing across the emerging markets
May UK-Cameroon Trade & Investment Forum