Circular dated December 31, 2019 following the private industrial sector initiative issued on December 12, 2019

Cairo, December 31, 2019

Dear Chairman of the Board,

Greetings,

With reference to the Central Bank of Egypt's initiative dated December 12, 2019, to support private industrial sector companies with annual turnover or revenues ranging from EGP 50 million to EGP 1 billion, by making available an amount of EGP 100 billion at an annual interest rate of 10% (declining) through banks, I would like to confirm the following:

1. This initiative must be directed toward granting credit facilities to finance the purchase of raw materials and production supplies, as well as financing machinery, equipment, or production lines (capital financing) with the aim of increasing production capacity.

2. Non-compliant customers may benefit from the aforementioned initiative provided they make repayments in accordance with the conditions set out in the initiative issued for non-compliant customers dated December 12, 2019, subject to the credit study prepared for each customer individually by the banks.

Please be kind enough to ensure that the necessary actions are taken in this regard.

Accept my highest respect and appreciation,

Tarek Amer