Talaat Mostafa TMG E : Moustafa Group Holding Presentation. December 2022.

Talaat Moustafa Group Holding (TMG Holding) a leading conglomerate with special emphasis on developing integrated communities, including but not limited to mixed-use real estate and hospitality projects across Egypt's key cities. It has an outstanding track-record in creation of large, vibrant and diverse communities, providing high-quality housing accompanied by superb amenities and embodying the company's unmatched experience in planning, execution, management and maintenance of large-scale developments. Constant execution of the company's bold and ambitious vision has been redefining and reshaping Egypt's property landscape over the past two decades, dictating new trends and higher standards and substantially contributing to sustainable economic growth and improvement in quality of life for local communities.

TMG Holding is the developer of Al Rehab city in New Cairo, Al Rabwa in Sheikh Zayed city, Mayfair in Al Shorouk city and Madinaty, its flagship mega-development occupying a whopping 33.6mn sqm in East Cairo, in addition to Celia its recently launched project in the New Administrative Capital, and a new mega-city Noor located on 21mn sqm in the same vicinity. TMG Holding also owns three luxurious Four Seasons hotels in Sharm El Sheikh, Alexandria, and Cairo, where it also owns the Kempinski Nile Hotel. The company owns 1,084 upscale hotel rooms in total and is currently expanding its portfolio by 877 additional rooms in a new upscale hotel properties under construction in Cairo, Marsa Alam, and Luxor.

TMG Holding has developed over 306k sqm of prime non-residential BuA in its projects, of which it successfully sold some 113k to institutional investors during 2020-2022, in addition to 80k sqm sold to retail investors since 2017. The company now owns over 114 thousand sqm of prime retail space located across its integrated communities and is an emerging dominant player on Cairo's sporting club scene, with two operational integrated sporting clubs accommodating about c0.2 million members and additional three clubs under construction.

The company is publicly held since 2007 and is the largest listed developer by market capitalization. TMG Holding is Shariah-compliant. It has a total land of 74mn sqm, the largest accessed by a listed developer in Egypt. It has the largest backlog among local developers, at EGP70bn, to be fully delivered within the coming five years.

Market capitalization (as of November 2022)

EGP17.5bn

Turnover (for 9M2022)

EGP13.9bn

Backlog (3Q2022)

EGP70bn

Total assets (3Q2022)

EGP150bn

#1 Egyptian RE

developer by market cap

50 years track record

1,084 operational hotel

rooms

877 rooms under development(3)

over 120k+ units delivered

(since inception)

Highest cumulative deliveries by a

single MENA developer

114k sqm GLA portfolio(4)

Over 102ksqm GLA leased and

operational

MENA's leading developer(1)

#1 Egyptian RE developer by backlog(2)

197k operatingclub

membership capacity(5)

Sold c52kmemberships, c145k

yet to be sold

c29mn sqm residual

Remaining collections [EGPbn]

43.0 41.9 50.0 51.1 46.4

FY19 FY20 FY21 9M21 9M22

Solid revenues and income visibility

• Some 20% of revenues generated in FX, against EGP- denominated costs
• Consistently growing the recurring income contribution to total revenues
• Unmatched revenue backlog, providing strong visibility on earnings during 2022-2027
• All sales / revenues underpinned by real demand, supported by strong population growth (+2%), formation of new households (1mn marriages p.a.) and outward migration to Cairo's suburban areas

Driven by vision and commitment to innovation and sustainability

• Backed by visionary leadership with extensive experience and unmatched expertise
• Strongly committed to technological innovation focused on environmental sustainability
• The implementation of SMART solutions in our projects have increased operational efficiency while it has significantly reduced operating and management costs
• Driving economic and societal growth, building sustainable, thriving and diverse residential communities

Solid branding

• Cumulative experience of over 50 years in the Egyptian market
• Partner of choice for many international brands considering entry to Egypt (e.g., Four Seasons, GEMS Education)
• Partner of choice for local financial institutions, such as NBE or Banque Misr
• Lends expertise to local regulatory bodies, shaping regulatory environment and improving market safety and dynamics

Well-capitalized, prudently managed balance

sheet with low debt

• Total equity of EGP37bn as of 9M2022
• Debt-to-equityratio of 25% only, supporting primarily recurring income lines, the Company is net cash positive
• Track record of stable dividend pay-outs with a positive outlook
• Extended payment plans for real estate product (up to 15 years) factor in implicit financing costs, now providing a cushion in inflationary environment

Prime land bank sufficient for 20+ years

of development

• Ample land footprint of 74mn sqm, securing continuous growth for the coming 20+ years
• Almost fully-owned land bank: majority of Madinaty's in-kind payment already settled, manageable costs of land for remaining projects
• Prime, fully-owned investment land bank valued at a multiplication of our current market cap

An unmatched solid base of prime assets

• Asset base worth EGP150bn at book value as of 9M2022
• Portfolio of four operational luxury-hotels earmarked for further expansion
• Owner of prime retail assets in East Cairo's hotspots
• Owner of prime sporting clubs
• Our key asset: very affluent population of some 800k people with high life aspirations, wholly served within city boundaries

1

2

Total sales in 9M2022 recorded EGP21bn, confirming the strong momentum achieved in FY2021.

FY2021 was the best sales period in the company's history, topping EGP32.4bn in new sales* and significantly exceeding the guidance. Noor sales exceeded expectations, with EGP21bn in net sales booked until end of September 2022.

FY2021 witnessed a strong recovery in the hospitality division with cumulative EBITDA at EGP372mn (more than 3x initial budget, compared to loss of EGP47mn in FY2020). The recovery was confirmed in 9M2022, with cumulative EBITDA largely surpassing the performance of the entire FY2021, recording EGP632mn (over 2x initial budget, and over 3x if compared to EGP192mn achieved in 9M2021). Full operativity of the extension in the FS Sharm El Sheikh resort further strengthened our hospitality offer.

We delivered a remarkable 50% y-o-y growth in retail revenues and 18% y-o-y growth in club revenues in 1H2022. Stand-alone club membership sales in line with previous performance reached EGP297mn

SALES

RECURRING INCOME

We continue delivering on our strategic objectives with:

• Sales achieved in 9M2022 confirm the strong increase seen during 2021, at the time, driven by the unprecedented launch of Noor city. The demand for new and legacy projects confirms management's ability to accurately identify and capture unique market opportunities
• The remarkable performance of the hospitality division during 9M2022 confirms the recovery of the sector experienced since the second half of 2021, and put the division on track to one of the best year in TMG's recent history
• Unlocking the value of our existing land bank through continuous and timely deliveries, benefiting from build-up of affluent populations in our cities
• Extracting liquidity through strategic deals mastermind by management, transactions regarding non-core assets, to finance new developments and shareholders remuneration.