SRI LANKA February 28, 2012 Private and Confidential DISCLAIMER - PowerPoint PPT Presentation

OCLANER REAL ESTATE FUND Meeting the Demands of South Asia’s New Wealth SRI LANKA February 28, 2012 Private and Confidential

DISCLAIMER DISCLAIMER This presentation has been prepared exclusively for information and discussion purposes only and is not and should not be construed as an offer to sell or a solicitation of an offer to buy Redeemable Preference Shares of the Fund to the public in any jurisdiction. This will be made pursuant to a confidential Private Placement Memorandum and the definitive Fund documents, which will be furnished to qualified investors on a confidential basis. This presentation may not be disclosed to third parties or duplicated or used for any purpose other than the purpose for which it is provided. The information contained herein is proprietary to Oclaner Real Estate Fund and for your internal use only. This presentation is qualified in its entirety by reference to the Private Placement Memorandum and the Fund documents. All financial statements, projections, statistical data and forward looking statements are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those contemplated by the relevant statement. Various factors could cause actual results to differ materially from our expectations. In the light of inherent risks and uncertainties, the forward-looking statements, projections, events and circumstances discussed in this communication might not occur and are not guarantees of future performance. Except where otherwise indicated herein, the information provided herein is based on matters that exists as of the date of preparation and not as of any future date, and will not be updated or otherwise revised to reflect information that subsequently becomes available or circumstances existing or changes occurring after the date hereof. Prospective investors should do their own due diligence and evaluations of the information contained herein. The information contained herein does not purport to contain all of the information that may be required to evaluate the Fund. This presentation does not constitute the provision of investment advice. This presentation expresses no views as to the suitability of the investment described herein for the recipient of the presentation or to the individual circumstances of such recipient or otherwise. The investment described herein is speculative, involves significant risk and is suitable only for investors of substantial net worth who are willing and have the financial capacity to purchase a high risk investment which may not provide any immediate cash return and may result in the loss of all or a substantial part of their investment. No assurance can be given that the Fund’s investment objectives will be achieved, or that any risk management framework described herein will achieve its objective. An investor should be able to bear the complete loss of an investment in the Fund. The Fund’s securities are not and will not be registered under the U.S. securities Act of 1933, as amended, or qualified under any applicable state securities statutes. The Fund is not and will not be registered as an investment company under the U.S. Investment Company Act of 1940, as amended. 2

OCLANER ASSET MANAGEMENT: Fund Manager Singapore Global Financial Centre: Stable Government Financial Reputation Low Tax Regime Services  Asset management and Family office services  Investment philosophy Oclaner holds a Capital • Markets Service (CMS) License Opportunistic approach for Fund Management: • Conservative and risk managed discipline Supervised by the Monetary • Transparent process Authority of Singapore  Diverse team of experienced professionals 3

FUND OVERVIEW Dual Investment Themes  Sri Lanka’s tourist expansion  Sri Lanka’s property boom Opportunity  Invest in redevelopment of Colombo Fort  Co-invest with reputed Sri Lanka partner  Total strategy size of ~ $220 million • Fund Investment of up to $100 million Fund Highlights  Singapore based Master Fund  Luxemburg based Feeder Fund  Invest in Sri Lanka Special Purpose Vehicles (SPVs) • Hotel company (operating) • Residential company (holding) 4

FUND STRUCTURE Feeder Master Fund Fund Investors Investors Luxembourg Oclaner Real Estate Fund Custodian, Admin & FUND MANAGER Auditor Oclaner Asset Management Pte Ltd Singapore Joint Venture Partner Joint Venture Agreement (CT Holdings) A Singapore incorporated company; Fund Manager supervised by the Monetary Authority of Singapore (MAS) Hotel SPV Residential SPV 5

BENEFITS OF JOINT VENTURE: Execution, Risk Mitigation CT HOLDINGS OCLANER REAL SRI LANKA ESTATE FUND Requisite Regulatory Approvals Site Selection Development Coordination & Business Planning Management Equity Investment Marketing & Public Relations Exit Management Equity in Land / Cas h JOINT MANAGEMENT Project Management Risk Management Technical & Development Advice Marketing & Sale of Residences 6

SRI LANKA: Overview Snapshot Country Population 21 million Colombo Population 2.5 million GDP (2010) US$ 56 bn Literacy Rate 91.3% Flight Connectivity 3 hours from Singapore 4.5 hours from Dubai 10 hours from London Growth Prospects Post conflict surge  GDP growth of 7.5% - 8% in 2010-2011  Private consumption and Investments at 8.8% & 8.1%  Output risen to 7% post conflict, vs. 5.6% for past decade  Government debt to GDP at 80% and declining Rustic Beauty  Natural tourist destination with amazing people  Home to Eight UNESCO World Heritage sites  Good climate for holidaymakers year round Source: RAM Holdings Economic Research 7

REFRESHINGLY SRI LANKA: Wonder of Asia ‘Sri Lanka has what it takes to be the Wonder of Asia ’ Dr. Ngozi Okonjo-Iweala, Managing Director of the World Bank In February 2011, Citigroup identified Sri Lanka as one of the 11 promising countries (collectively called the 3G nations) which has the greatest potential for sustained economic growth till 2050. Natural Sri Lanka is the best place to Invest in South Asia Jim Rogers ‘ Sri Lanka - the number one holiday destination for the year 2010 ’ New York Times ‘Sri Lanka’s beach stretch from Tangalle Bay to Weligama and Bentota among the Top 10 in Asia’ Forbes Heritage Scenic 8

COLOMBO FORT REDEVELOPMENT: Participate in the Vision Cruise Terminal Historical Legacy Today’s Centre for Government & Trade  British Administration from the 19th century, today houses the President’s House, Government ministries, Cargill head offices of major businesses, banks and the World Trade Centre towers Reemergence of Old Grandeur  Government has now adopted an expansive redevelopment plan  Fund investors will benefit from work done since 2010 Fort Area CBD Changing the Landscape of Colombo  The strategic location and colonial architecture positions Colombo Fort as an emerging destination Regal 9

COLOMBO FORT: Proposed Investments LEASED BUILDINGS ON YORK STREET CARGILLS LUXURY HOTEL Adjacent to Cargills ANCHOR FOR YORK STREET Cargills- Since 1844 is the most prominent building of the Fort REGAL TOWER COLOMBO FORT ‘ Regal Colombo ’ open since 1930s as a theatre, Fort’s Edge *All buildings are illustrative renderations on existing facades 10

UDA MASTER PLAN: Colombo Fort YORK STREET CARGILLS REGAL 200m 11

CARGILLS LUXURY HOTEL Concept  Colonial building with distinct historical architecture to be converted into ultra luxury hotel • 150+ rooms, ultimate luxury, 50-60 meter rooms/suites • Managed by globally recognized operator • Multiple fine dining restaurants, high-end retail Status  Current owners secured key approvals • 14 story permissions granted, with panoramic views • Urban Development Authority approval • Preliminary clearance from the Presidential Security Division and from Archaeology Department Investment  Fund investment is expected post launch • Projected project size $65 million, fund has 30% stake • Average room cost inc. land $400,000 • Fund investment exit through public listing Cargills 1910 12

YORK STREET Concept  Historic buildings immediately adjacent to Cargills refurbished to luxury shopping and related services  Fund Investments will control York Street ambiance to make Colombo Fort the new tourist destination Status  15 year leases between CTH and owners  Walkways will lead to parking and smaller streets provided by Government initiatives Investment  Fund investment is expected post launch • Projected project size $6 to 10 million depending on final square footage available, fund has 30% stake • Fund investment exit through public listing within the Hotel Portfolio Colombo Fort 1880 13

REGAL RESIDENTIAL TOWER Concept  Develop existing property into a residential iconic tower • 900,000 square feet, 40 to 60 stories • ~ 160 apartments, between 3,000 - 4,000 SF • Integrated facilities, panoramic views • Branded hotel residences Status Regal Site  Current owners proceeding to secure key approvals • Preliminary planning clearance obtained from the Urban Development Authority • International architect search underway Investment  Fund investment is expected post launch • Project $100 million+ ; Fund has 50% stake • Construction/Land PSF $110 • Exit by development and sale of units 14