Insolvency - an opportunity for the innovative entrepreneur Ioana Necula General Director 5 th of March, 2013

Key Issues Who we are? Short history of International Leasing International Leasing within sector trends Why International Leasing? Business model Current status and actions What we have learned Business Plan & Model Leasing Activity Distressed assets activity 2

WHO WE ARE? 3

Short History Of International Leasing Set-up in 1995 as the first independent leasing company Recognized by its competitors as a major trend setter Co-founder of the National Union of Romanian Leasing (UNSLR) now divided into ALB and ASRL First private company to issue public bonds (2000, 2002 and 2005 – successfully repaid) First private leasing company listed on the capital market (RASDAQ) leasing contracts with over EUR 150 Mio Very good reputation in the market Specialized automotive and equipment financial leasing ticket size around EUR 30k 2011 developed a dedicated platform for distressed assets management made several successful acquisitions of toxic portfolios. 4

Team structure Ioana Mihaela NECULA Main Shareholder of IL and GM 15 years of leasing experience Catalin IONESCU Business Development Manager 15 years of banking experience Claudiu FILIPESCU Sales Manager 10 years of leasing experience Cecilia BĂSU Operations Manager 9 years of financial management and consultancy experience Marius DĂNĂILĂ Financial Manager–Portfolio Analyst 5 years of leasing experience A team with over 15 years of leasing experience An enthusiastic and energetic team, ambitious to ensure the success of all complex projects We developed a strong working experience on leasing due diligence projects All our senior team have an in-depth leasing knowledge and support the management in successfully taking over leasing portfolios We understand the particular risks of leasing transactions and how to shape our diligence approach to protect the Beneficiarys interest We have compelling and relevant sector expertise, being one of the first leasing companies set up in Romania Building sound partnerships based on professionalism, accountability and integrity 5

Leasing Sector Synopsis - Trends Evolution Evolution of non performing leasing from total granted credit Source: ALB * Criminal groups frauded the leasing sector; Financial market exposed to fraud lacking real forensic specialists at the time. Economic downturn and fraud* 6

International Leasing Within Sector Trends International Leasings portfolio followed the trend of the overall market * ITL financed only Q1 – Q3 (Q – Q = freezing period; reorganization procedure) ** ITL restarted financing in Q4 *** estimated figures Source: ALB ITL freezing period 7

WHY INTERNATIONAL LEASING? 8

Restructuring the Business Good bank / bad bank model was proposed by ITL (first time in Jan 2009!) Decision to declare insolvency took almost 18 months –Creditors / banks consensus difficult to obtain –Insolvency - the only viable solution Insolvency protected both the company and secured the creditors assets BCR as main creditor – critical role in restructuring International Leasing The insolvency procedure started in Oct 2010 ! 9

Restructuring the Business Platform for management of distress assets (goods & receivables); Due diligence services Services provided for ILI OldCo – Bad Bank (ILB) IFN 100% owned by ILB Vehicle for new business development NewCo – Good Bank (ILI) Better recovery Viable workout solution for leasing portfolios of banks Creditors Free Market Acq. Toxic Leasing Contracts Repossessed assets ILB good portfolio Newly acquired portfolios New financing 10

Restructuring the Business Valuation and acquisition of distress portfolios OldCo – Bad Bank (ILB) Assets realization Toxic receivables recovery NewCo – Good Bank (ILI) Business origination Underwriting Monitoring and portfolio administration Common management platform: -Top & middle management -Support functions (HR, IT, finance & accounting, logistics) Integrated common support platform for two complementary businesses create the synergies for cost segregation and effectiveness. 11

CURRENT STATUS AND ACTIONS 12

What we have learned In difficult times for success to be achieved it is essential and critical to convince and to ensure the support of the creditor through strong entrepreneurial involvement and commitment Good business has to take advantage of the accumulated experience and continue on improved basis. Therefore the leasing activity remains the core business while capitalizing more on its potential. All experience and threats have a strong educative role and therefore new capabilities have been identified to suit the new trends. Developing the distressed assets managing platform is one of the positive results of our struggling experience along with improving the management skills. Actively adapting to the new economical reality and conditions is a must for the survival and a way to profitable opportunities. 13

Business model designed to meet current market evolution Existence of a Healthy Leasing Company functioning on an improved basis Functioning Distress Assets Platform to take advantage of the growing market opportunity for distress assets acquisition or management, which will also handle the default risk from leasing activity. International Leasing demonstrated a series of qualities that qualifies it for sustained growth: Significant mind share Young experienced and dynamic management team Proven dependable and flexible ERP system Constant string of innovative and profitable products Audited by a Big6 company Captive dealership network Trendo Automobile – Peugeot & Kia Recognized web domain Appropriate size to build on – not too small to be difficult and time-consuming to further develop; not too large to be prohibitive to buy in One of the last independent Romanian leasing companies with sound reputation 14

Leasing Strategy and comparative advantages Leasing strategy Customer for life policy - steady and loyal client base Financing the client not the asset – adequate response to the clients investment needs Rigorous selection of new clients based on improved risk and information analysis Complete services adapted to client need (using the ILB platform for non-financial services) Our advantages Ethical behavior Viewed as a partner by customer Organizations sales force Integrated technology platform Competition is driving commodization - Product innovation Product and service differentiation 15

Portfolio Acquisition Volume of portfolio acquisition to date: * Started late in 2011 (August). ** Transactions currently ongoing. 16 Nominal value (EUR) 2011* **TotalGross margin Expected Ongoing Portfolio 732,00011,600,00012,332,000100% Toxic Portfolio8,116,00015,000,00023,116,000300%

Need for the banks to clean their portfolios – approx. 3 billion EUR nonperforming loans as per NBR statistics More owners and banks consider the alternative to sell toxic portfolios or externalize the administration of such portfolios To buy independent assets in distress and restructure credits for the Banks Lack of distress assets management capabilities and offers on the market (for leasing and legal entities segment) Distressed assets - opportunities

Distressed assets strategy and comparative advantages Distressed asset management strategy Building sound partnerships with banks and leasing companies to ensure constant distressed assets acquisitions (distressed receivables and goods) Also looking on free market acquisitions from either individuals, auctions, liquidators, bailiffs or other leasing companies (distressed goods) Developing a sound and tested network relationships with trustable and efficient bailiffs Developing non judiciary procedures in order to gain information and to seize an amiable profitable solution Increasing business volumes to maximize profits Our advantages Profitable proven experience Dedicated team with adapted skills and mind set Ability to find solution and to set partnerships Good reputation and trustable team 18

Our Offer In regards of the experience and the expertize, International Leasing has the capability to offer today the following services: Due diligence over existing portfolios Recovery of receivables and assets Liquidation of repossessed assets Management of repossessed goods in specialized parks (auto and equipment) Portfolio and/or repossessed stock acquisition

Contact Thank you for your attention! Ioana NECULA Director General Tel./Fax: Mobile: