KENOLKOBIL LIMITED INVESTOR BRIEFING March 2017

KenolKobil KenolKobil Limited (formerly Kenya Oil Company Limited, (Kenol)) incorporated on May 13th,1959 The shares are quoted on Nairobi Securities Exchange The name of the Company changed from Kenya Oil Co Ltd to KenolKobil Ltd in June 2009 Our main business: Marketers of petroleum products in the down stream market KenolKobil Cares for you

Vision and Mission Statement To be the leading brand in all markets we operate and a major player in Africa. MISSION To develop, improve and increase quality and total value of our products and services. To become a market leader through continuous innovation, customer focus and provide the highest quality products and services. To maintain a highly motivated, well trained human resource base To deliver highest Shareholders value. KenolKobil Cares for you

Board of Directors 4 Non-executive Directors 2 Executive Director James Mathenge (Chairman) (Oil man, Ex Chevron), Magadi Soda Terry Davidson (Banker, Ex-Citibank, KCB) Daniel Ndonye (Auditor, Ex–Deloitte&Touche) 2 Executive Director - David Ohana (Group Managing Director) Board Committees Audit & Risk Committee Nominations and HR & Remuneration Committee KenolKobil Cares for you

Management - Country Managers of each subsidiary Executive Committee - Group Managing Director - Group Finance Manager - Marketing Manager Group Management Team - Country Managers of each subsidiary - Group Managing Director - Selected Team members of Kenya Management team - Group Accountants - Group Internal Audit Manager KenolKobil Cares for you

Management Subsidiary Local Management team Each subsidiary, including Kenya, have a local management team responsible for running the operations of the country - Each structure manages it’s own operations through Kenya approvals and controls, covering Marketing & Business development, Operations, Human resources, IT & Administration, Accounting & Finance - Group Management team sets all business policies based on Board guidelines. - Functions are streamlined from Kenya KenolKobil Cares for you

Subsidiaries All subsidiaries are 100% owned by KenolKobil Ltd. KenolKobil (formerly Kenya Oil Co Ltd) operates under the Kenol brand. Subsidiaries operate under the Kobil brand. Kobil Petroleum Kobil Uganda Kobil Zambia Kobil Rwanda Kobil Ethiopia Kobil Burundi Kobil Tanzania (Divested in Dec 2015) KenolKobil Congo (Divested in Dec 2015) KenolKobil Cares for you

Kenya: Kobil and Kenol – 190stations Kobil Uganda (since 2000) – 37 Retail Operations The group operates 12 Terminals from which it supplies Network of Stations: Kenya: Kobil and Kenol – 190stations Kobil Uganda (since 2000) – 37 Kobil Zambia (since 2002) – 26 Kobil Rwanda (since 2003) – 58 Kobil Ethiopia (April 2007) - 24 Kobil Burundi (Sep 2010) - 45 TOTAL STATIONS 380 KenolKobil Cares for you

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KenolKobil FINANCIAL SUMMARY KenolKobil Cares for you

Group Income Statement GROUP INCOME STATEMENT FOR THE YEAR ENDED 31 DECEMBER   2016 2015 Shs'000 %age inc Volume 2,036,348 1,571,588 30% Net sales 103,493,925 86,557,936 20% Cost of sales (96,110,370) (80,720,486) 19% Gross Profit 7,383,555 5,837,450 26% 7.1% 6.7% Other Income 464,353 830,391 -44% Administrative and operating cost (2,481,277) (2,077,117) Impairment provision for KPRL Yield shift receivable (600,000) (146,694) 309% Share of profit/(loss) in associate 1,215 1,214 0% Exchange losses 2,525 (232,064) -101% EBITDA 4,770,371 4,213,180 13% Finance cost (354,690) (651,344) -46% Finance income 92,461 83,909 10% Depreciation and amortisation (969,886) (863,324) 12% Profit before income tax 3,538,256 2,782,421 27% Income tax expense (1,125,049) (884,491) Profit for the year from continuing operations 2,413,207 1,897,930 Profit for the year from discontinuing operations - 117,044 100% PROFIT FOR THE YEAR 2,014,974 KenolKobil Cares for you

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Net Sales by Business Segment KenolKobil Cares for you

Gross Profit by Business Segment KenolKobil Cares for you

Net Profit after Tax by Business Segment KenolKobil Cares for you

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Dividends Year Dividend per share % of Profit after tax Dividend Yield Final 2016 45 cents 27% 3% Final 2015 35 cents 26% 4% Final 2014 20 cents 2% Final 2013 10 cents 1% 2011 Ksh 1 45% 10% 2010 52 cents 40% 5% 2009 Ksh 0.325 37% 7% KenolKobil Cares for you

Group Balance Sheet KenolKobil Cares for you

KenolKobil Cares for you CONSOLIDATED STATEMENT OF FINANCIAL POSITION BALANCE SHEET 31st Dec 2016 31st Dec 2015 31st Dec 2014   Shs'000 CAPITAL EMPLOYED Shareholders' funds 9,865,151 8,555,639 7,330,496 NON-CURRENT LIABILITIES Total non-current liabilities 312,253 210,796 285,748 CURRENT LIABILITIES Total current liabilities 14,024,301 8,610,667 16,298,922 Total Equity and Liabilities 24,201,705 17,377,102 23,915,166 REPRESENTED BY NON-CURRENT ASSETS Total non current assets 6,564,485 6,722,294 8,427,147 CURRENT ASSETS Total current assets 17,637,220 10,654,808 15,488,019 Total assets Net Borrowing 3,480,228 3,900,337 9,446,764 Gearing Ratio 26.1% 31.3% 56.3% Current Ratio 1.26 1.24 0.95 KenolKobil Cares for you

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KenolKobil Thank you KenolKobil Cares for you