1. Assumptions by Economics – What to look for?

2. Page 2 Assumptions ► Growth as measured by the GDP ► Inflation and interest rates ► Asset Allocation ► Diversification 5 th Annual Audit Committee Conference

3. Page 3 Global Outlook Source: Economic Intelligence Unit, March 2014

4. Page 4 Emerging Markets 5 th Annual Audit Committee Conference 2001 - 2010 2011 – 2015 : Forecast 2001 - 2010 2011- 2015 China 9.5 Nigeria 6.8 Zambia 6.9 Tanzania 7.2 India 8.2 Congo 7.0 Vietnam 7.2 Angola 11.1 Rwanda 7.6 Cambodia 7.7 Nigeria 8.9 Kazakhstan 8.2 Ethiopia 8.4 Myanmar 10.3 China 10.5 Chad 7.9 Mozambique 7.9 Ethiopia 8.1 Mozambique 7.7 Ghana 7.0

5. Page 5 Listed Investments 5 th Annual Audit Committee Conference

6. Page 6 Asset Allocation 5 th Annual Audit Committee Conference

7. Page 7