INVESTOR PRESENTATION KENOL KOBIL FY2017 INVESTOR PRESENTATION JUNE 2018

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

About us KenolKobil Plc (formerly Kenya Oil Company Limited, (Kenol)) was incorporated on May 13, 1959 The name of the Company changed from Kenya Oil Co Ltd to KenolKobil Ltd in June 2009 In May 2017 the name of the company changed to KenolKobil Plc The company’s shares are quoted on the Nairobi Securities Exchange Our main business: Marketers of petroleum products in the down stream market

Corporate Governance 4 Non-executive Directors 1 Executive Director James Mathenge (Chairman) (Oil man, Ex Chevron, Magadi Soda) Ms Ashwini Bhandari (Advocate, Partner Daly & Inamdar Advocates) Daniel Ndonye (Auditor, Ex–Deloitte & Touche) Ms. Elisabeth Klem (Hotelier, MD Yaya Towers) 4 Non-executive Directors David Ohana (Group Managing Director) 1 Executive Director Audit & Risk Committee Nominations, HR & Remuneration Committee Board Committees

Corporate Governance Group Managing Director General Manager, Kenya Reviews financial performance and develops strategies geared towards improving business performance. Assists the Group MD in investment and strategic planning decisions. Develops and reviews group policies. Participates in staff recruitment and talent development. Participates in staff disciplinary matters. Reviews the group’s compliance to policies and regulations through the compliance committee. Provides oversight to ad hoc committees to ensure that objectives are met. Group Managing Director General Manager, Kenya Finance Manager Marketing Manager Executive Committee

CURRENT COUNTRY OPERATIONS Eastern Africa Business Footprint UGANDA– 33 ETHIOPIA – 41 CONGO KENYA – 197 RWANDA – 50 ZAMBIA – 28 CURRENT COUNTRY OPERATIONS TANZANIA DIVESTED OPERATIONS BURUNDI – 43

EXPORT, TRADING, AVIATION OPERATING SEGMENTS INLAND RETAIL COMMERCIAL RESELLER FUEL OIL NICHE LPG BITUMEN LUBES NON FUEL EXPORT, TRADING, AVIATION EXPORT TRADING AVIATION

KENYA MARKET SHARE STATISTICS FY 2017

KENYA MARKET SHARE STATISTICS FY 2017

GROUP DEPOTS’ CAPACITY WHITE FUELS   LPG (M3)  STATUS (MT) KENYA 57,717 Joint Ownership 230 Company Owned RWANDA 14,800 Leased 100 UGANDA 2,181 40 ZAMBIA 6,000 BURUNDI 4,500 N/A 85,198 410

FINANCIAL SUMMARY

Consolidated Income Statement For the period ended 31st December 2017   2017 2016 Shs'000 %age change Volume 2,895,175 2,036,348 42% Net sales 158,710,185 103,493,925 53% Cost of sales (150,798,637) (96,110,370) 57% Gross Profit 7,911,548 7,383,555 7% 5.0% 7.1% Other Income 582,555 464,353 25% Administrative and operating cost (3,082,629) (2,481,277) 24% Impairment provision for KPRL Yield shift receivable (570,212) (600,000) (5)%  Share of profit in associate 4,824 1,215 297% Exchange (loss)/gain (47,447) 2,525 (1979)% EBITDA 4,798,639 4,770,371 1% Finance cost (340,703) (354,690) (4)% Finance income 192,967 92,461 109% Depreciation and amortisation (970,437) (969,886) 0% Profit before income tax 3,680,466 3,538,256 4% Income tax expense (1,215,763) (1,125,049) 8% PROFIT FOR THE PERIOD 2,464,703 2,413,207 2%

The group realized a 2% growth in PAT in FY 2017 compared to FY2016 which stood at Shs2.46bn and Shs 2.41b respectively. Without the extraordinary expenses, net profit would have been Ksh3.4bn.

Group volume up 42% in FY2017 compared to FY 2016 – this was spread across all the business segments including OTS and is attributable to key strategic relationships with some of the world’s major oil producers. The group revenue was up 53% mainly driven by volume growth as well as increased international oil prices.

Net Profit after Tax by Business Segment

Sales Contribution Per Business Segment

Gross Profit Contribution Per Business Segment

CURRENCY PERFORMANCE

CURRENCY PERFORMANCE

CONSOLIDATED STATEMENT OF FINANCIAL POSITION BALANCE SHEET 31st Dec 2017 31st Dec 2016 31st Dec 2015 31st Dec 2014   Shs'000 CAPITAL EMPLOYED Share capital 73,588 Share premium 5,166,350 Retained earnings 7,341,699 5,760,052 3,935,550 2,291,849 Other reserves (1,366,802) (1,134,839) (619,849) (201,291) Shareholders' funds 11,214,836 9,865,151 8,555,639 7,330,496 NON-CURRENT LIABILITIES Total non-current liabilities 271,012 312,253 210,796 285,748 CURRENT LIABILITIES Total current liabilities 12,613,183 14,024,301 8,610,667 16,298,922 Total Equity and Liabilities 24,099,031 24,201,705 17,377,102 23,915,166 REPRESENTED BY NON-CURRENT ASSETS Total non current assets 5,931,196 6,564,485 6,722,294 8,427,147 CURRENT ASSETS Total current assets 18,167,835 17,637,220 10,654,808 15,488,019 Total assets Net Borrowing 4,828,673 3,480,228 3,900,337 9,446,764 Gearing Ratio 30% 26.10% 31.30% 56.30% Current Ratio 1.44 1.26 1.24 0.95

INVENTORY LEVELS

LIQUIDITY

GEARING

GEARING COSTS

Investment Ratios

Year Dividend per share % of Profit after tax Dividend Yield Full Year 2017 60 cents 36% 4% Full Year 2016 45 cents 27% 3% Full Year 2015 35 cents 26% Full Year 2014 20 cents 2% Full Year 2013 10 cents 1% Full Year 2011 Ksh 1 45% 10% Full Year 2010 52 cents 40% 5% Full Year 2009 Ksh 0.325 37% 7%