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

IR PRESENTATION 1H2022 UPDATE

TMG Holding S.A.E.	ﺔﻋﻮﻤﺠﻣ	ﺖﻌﻠﻃﻰﻔﻄﺼﻣ ﺔﻀﺑﺎﻘﻟا	ش. م. م.
عرﺎﺷ،ق٣٤ﺪﺼ/٣٦ﻣ	([phone]	Publicly held since 2007
34/36 Mossadek St., Dokki	ﻲﻗﺪﻟا	EGX: TMGH.CA / TMGH EY
	[e-mail]
Giza, Egypt	،ةﺰﻴﺠﻟا	ﺮﺼﻣ www.talaatmoustafa.com

About TMG Holding

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 four luxurious Four Seasons hotels in Sharm El Sheikh, Alexandria, and Cairo, where it also owns the Kempinski Nile Hotel. The company owns 1,063 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 113 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 EGP67bn and to be fully delivered within the coming five years.

Market capitalization (as of September 2022)

EGP16bn

Turnover (for 1H2022)

EGP7.09bn

Backlog (2Q2022)

EGP67bn

Total assets (2Q2022)

EGP149bn

Disclaimer

Certain information disclosed in this presentation consists of forward looking statements reflecting the current view of the company with respect to future events, and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements that may be expressed or implied by such forward looking statements, including worldwide account of trends, economic and political climate of Egypt, the Middle East, and changes in business strategy and various other factors. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described in such forward looking statements.

Note: Market capitalization as of September 2022, financial and operational KPIs as of end-1H2022

Investor presentation 2

We are a brand of choice for the largest public and private financial institutions in the country

Recent bulk sales of prime non-residential properties in our projects to the largest public and private financial institutions is the most vital testimony of the strength of our branding and TRUST in our management's vision:

• During 2020-2022, we have secured some EGP28bn worth of sales of residential and non-residential BuA to institutions related to the National Bank of Egypt, Banque Misr (the two largest public banks in Egypt), Banque du Caire, as well as Commercial International Bank (the largest private bank in Egypt)
• These institutions trust TMG's vision, strategy, execution, project quality, delivery timeliness, and, most importantly, its ability to manage these properties efficiently to create value and maximize their return on the purchase.
• We have also entered into agreements with large local banks which allowed us to accurately price the extended sales plans of Noor project upon its launch, covering some EGP33bn of its initial sales. These agreements are a testimony to i) our management's ability to predict and accurately address the rapidly changing interest rate environment and ii) the trust of these banks in the solid quality of our clientele and our execution.
• Our decade-long land purchase contracts with the Ministry of Housing, securing very preferential terms which are unavailable to our competitors, are also a solid testimony to the trust extended to us by the market.
• TMG, as the largest developer in Egypt, skilful in successfully developing whole integrated cities rather than just small projects, has contributed significantly to the appreciation of prices of state-owned lands and other assets located in the vicinity of its projects.

Investor presentation 3

Some EGP28bn of liquidity generated through strategic transactions during 2020-2022

• Strategic alliance with First Design Company

August 2020, 335k sqm in Al Rehab and Madinaty, against cash proceeds of EGP4.0bn, collected between September 2020 and March 2021. The land plots will be developed by TMG Holding into quality mixed-use projects

• Sale of a pool of non residential assets

December 2020, bulk sale to an entity owned by institutional investors worth

EGP1.5bn

• Bulk sale of non-residential under development

May 2021, bulk sale of unfinished non-residential assets in Madinaty and Rehab to Rawasy, the real estate investment arm of National Bank of Egypt and Banque Misr, valued at some EGP1.7bn

• Bulk sale of non-residential under development

June 2021, bulk sale to Rawasy, valued at a massive EGP9bn, pertaining to some non-residential assets in Madinaty currently under development. Will result in gradual sales over the coming quarters. It will also generate additional revenues for the Group to be recognized until 2023.

• Bulk sale of residential and non-residential assets

February 2022, bulk sale to Rawasy, valued at a massive EGP8.6bn, pertaining to some residential assets in Madinaty currently under development, in addition to 21.0k sqm land plot in Al Rehab to be developed into a non-residential project.

Massive liquidity unlocked during 2020-2022 through innovative transactions with prominent financial institutions

• Starting 2020, TMG Holding's management was also focused on unlocking new liquidity leveraging on the Group unmatched market expertise, high-qualityinfrastructure and its vibrant and ever-growingcommunities of Al Rehab and Madinaty. Accordingly it has devised [6] unique and strategically important transactions with high-profile partners focusing on accelerating sales, profit recognition, uptake of existing unsold inventory and further de-riskingour robust business model
• Majority of the cash proceeds from these transactions have already been collected or will be collected in the next two years. Solid testimony of management's ability to swiftly and proactively tap into unconventional and sizable sources of funding to the benefit of the Group and its shareholders while maintaining its very prudent approach to capital structure and further mitigating any unforeseen liquidity risks while maximizing the value of its assets
• These transactions have a positive impact on sales, liquidity and profitability and help to mitigate the risks inherent to COVID-19 pandemic, providing liquidity available for early prepayment of various commitments and also providing liquidity for investments, such as Noor. That said, management believes that all required funding for Noor project is already in place
• The Group retains the role of property managers for these respective units. Furthermore, these bulk sales will facilitate a smooth lease out process, and this will positively contribute to footfall and rental yields achieved elsewhere.
• The transactions set a clear and indisputable reference point for the inherent value of TMG Holding's remaining land assets which. In the view of management, it is not accurately captured by the Group's current market capitalisation, having in mind that the value of its fully-paidor almost fully-paidland bank is now estimated at around EGP113bn, embodied in some 9.5mn sqm of prime residential and commercial land in Madinaty and Al Rehab Cities. Value on these lands have been created through years of strategic development and successful creation of vibrant communities in their vicinity.
• We secured EGP28bn worth of sales of prime non-residential and residential BuA to largest banks in Egypt, including the National Bank of Egypt, Banque Misr, Banque du Cairo, and Commercial International Bank.
• Some EGP11.5bn is yet to be recognized as sales, covering two recent agreements signed in 2022, worth EGP8.6bn and EGP2.9bn, with Rawasy and First Design companies, respectively.

• Bulk sale of residential and non-residential assets

June 2022, bulk sale to First Design, valued at a massive EGP2.9bn, pertaining to residential assets in Celia currently under development, in addition to two land plots with a combined area of 25.8k sqm in Al Rehab to be developed into a non-residential project.

Investor presentation 4

We have successfully addressed the risks of global macroeconomic changes on our costing structure

Since 2020, major macroeconomic events affected the business environment worldwide, including Egypt, starting with the COVID-19 pandemic, the unprecedented volatility in global commodity prices, the devaluation of the EGP and the sharp increases to interest rates to counteract global inflation.

• Based on the experience and vision of our management team, TMG has implemented all precautionary measures to counteract these negative global conditions.
• In the case of our newest greenfield project, Noor, the business plan has been based on a conservative assumption of 18% increase of construction costs from the project's launch until today, leaving a significant margin.
• Additionally, our management team was successful in negotiating a unique arrangement with local banks, allowing us to discount some EGP15bn worth of cheques remaining post delivery, covering the first EGP33bn of the project's sales, at a fixed rate of 15.34%. This allowed us to price the project accurately, with some 16% built-in the project's payment plans, reaching up to 15 years.
• We have already locked construction contracts for the outstanding backlog, having attracted significant interest from various contractors during our tenders. The company has issued public tenders targeting a large contractor classified as First Class by the Egyptian Federation of Contractors. We have secured the best prices available in the Egyptian contracting market, guaranteeing quality and timeliness of execution. The contracts limit our exposure to annual cost inflation to 11.5% only.
• Additionally, we have altered the way we price our villa units, whereby we now include the roof areas in the total area calculation, which increases the sale value by roughly 10% without any additional cost. This represents an and additional cushion for any cost overruns, which will help in the absorption of inflation going forward.

Investor presentation 5