I N F R A F I N A N C EBREAKFAST CLUB

INFIN

Welcome to the first INFIN breakfast meeting of 2015! This roundtable panel session will look back at the highs and lows of 2014 with a panel of leading infrastructure investors and advisors offering comment and analysis on the state of the European market for infrastructure investment. The panel will look ahead at what 2015 may hold in store for us and share their thoughts on investment opportunities and deal activity.

08.00-08.30: Delegate registration, buffet breakfast and networking

08.30: INFIN and Berwin Leighton Paisner LLP Welcome

08.30-09.30: Roundtable Panel session consisting of:

Moderator: Mark Richards, Partner & Head of Projects & Infrastructure, Berwin Leighton Paisner LLP

Panel Members: Nigel Middleton, Partner, Infrastructure, 3i Swagata Ganguly, Senior Managing Director and Head of Debt Advisory, Europe, Evercore Stewart Orrell, Managing Director - Infrastructure Investments, Balfour Beatty Investments Jason Cogley, Partner, SL Capital Partners Gershon Cohen, Head of Infrastructure Funds, Aberdeen Asset Management Gordon McKenna, Head of Infrastructure Finance, Bank of America Merrill Lynch

09.30: Closing comments, end of meeting and post meeting networking

OUTLOOK FOR EUROPEAN INFRASTRUCTURE INVESTMENT IN 2015

Date: Thursday, 29th January, 2015Host: BLP, Adelaide House, London Bridge, EC4R 9HA

JASON COGLEYPARTNER, SL CAPITAL PARNTERS LLP

Jason is based in the Edinburgh office and joined SL Capital in 2014. Working in the infrastructure team, Jason’s focus is on sourcing, due diligence and monitoring of investment opportunities. Prior to joining SL Capital, Jason has spent 15 years working in the infrastructure sector covering renewables, regulated utilities, and PPPs with Impax Asset Management, Infrared

Capital Partners, Macquarie Infrastructure and Real Assets and PwC. Jason has a Bachelors of Commerce degree from Monash University (Australia) and qualified as a Chartered Accountant (ICAA).

GERSHON COHENHEAD OF INFRASTRUCTURE FUNDS, ABERDEEN ASSET MANAGEMENT PLC

Gershon, head of infrastructure at Aberdeen Asset Management, is responsible for the leadership and continued development of an infrastructure funds platform consisting of six funds and $1.8bn of institutional investment under management. He is Fund Principal of four green-field infrastructure funds focused on the UK, Europe, USA and Australia and chairman

of the advisory committee of a two brown-field UK/European infrastructure fund. The team of twenty-four he heads up has offices in London, Edinburgh, Paris Madrid and Sydney.

Gershon was formerly Global Head of Project Finance at Lloyds Bank, having been previously Head of Infrastructure Finance in Bank of Scotland. Prior to this he held various senior roles at NatWest and Hill Samuel and has been at the forefront of the development of financial solutions for publicly procured, privately financed infrastructure projects.

Gershon is a Fellow of the Chartered Institute of Bankers, trained as a chartered accountant and has a BSc in Combined Science (Maths & Physics). He has also presented at and chaired numerous conferences, seminars and roundtables and has written a number of articles on infrastructure procurement and financing.

SWAG GANGULYSENIOR MANAGING DIRECTOR, EVERCORE

Swag Ganguly is a Senior Managing Director and the Head of Evercore’s European Debt Advisory Business.

Swag has advised corporates, private equity, infrastructure funds and governments on over US$100bn of financings in his 15 years in the industry.

He has advised Arqiva on a £4bn bank, bond and private placement financing, Budapest Airport on a €1.35bn senior and mezzanine financing, Opengrid Europe on a €2.7bn bank and euro-bond financing, Global Container Terminals on a US$1bn bank and debt private placement, Canary Wharf Group on credit ratings strategy for its £1.6bn securitisation, Associated British Ports on its £2.35bn refinancing, Techem on its €1bn high yield and TLB refinancing, Southern Water on its £450m high yield and bank refinancing and Welcome Break on its £350m senior and mezzanine refinancing.

Prior to joining Evercore in 2014, Swag was a Managing Director at Rothschild in their debt advisory business where he had worked since 2000. He has an M.A. in Economics from Cambridge University and qualified as a chartered accountant with PricewaterhouseCoopers in 1999.

GORDON MCKENNADIRECTOR & HEAD OF INFRASTRUCTURE FINANCE EMEA, BANK OF AMERICA MERILL LYNCH

Gordon joined Bank of America Merrill Lynch in late 2014 as Head of Infrastructure Finance EMEA. Prior to joining BAML, Gordon spent 11 years at HSBC in the leveraged and acquisition finance and corporate banking teams. Gordon principally focuses on brownfield acquisition financings and refinancings across the transport, utilities and telco subsectors, and has experience

both as an arranger and an advisor. Gordon has also worked on financings across the credit spectrum including corporate acquisition and refinancing, LBO and high yield.

NIGEL MIDDLETONPARTNER, 3i

Nigel is a Partner in 3i’s Infrastructure team in London overseeing investment in infrastructure projects in 3i.

He joined BIF (acquired by 3i in October 2013) in 2002, previously having been head of PFI/PPP Advisory Services at PwC.

Nigel led BIF’s involvement in the formation and management of Infrastructure Investors (I2), a pioneering secondary market infrastructure fund, in which BIF had a joint venture interest alongside Societe Generale and 3i. He was also instrumental in establishing, and continues to manage, BIIF, a long ‘buy and hold’ PPP fund which acquired I2 in 2009.

He has an honours degree on Chemistry from Oxford University and is a qualified Chartered Accountant.

MARK RICHARDSPARTNER, BERWIN LEIGHTON PAISNER LLP

Mark, a partner with in the leading international law firm Berwin Leighton Paisner LLP within their Projects, Energy & Infrastructure Finance Team.

Mark has over 15 years of experience in providing multidisciplinary advice to public and private sector clients on a wide range of high

value, innovative and complex infrastructure projects.

Mark has been involved in some of the most high profile infrastructure deals both in the UK and overseas, including advising on equity (including secondary market trades), public and private debt structures, infrastructure fund trades and concession based structures.

Mark is recognised as a leading legal adviser and is rated as a PFI/PPP expert in the latest edition of Chambers Guide to the Legal Profession.

He regularly writes, chairs and addresses audiences on Global PPP structures.

Mark is qualified as a Solicitor in England & Wales and also a New York State Attorney.

Mark is a non-executive director of The International Project Finance Association, a member of TheCityUK PPP working group and a member of The Infrastructure Forum advisory council.

Speaker profileS

MARCH 2015

ALTERNATIVE FINANCING IN INFRASTRUCTURE - THE RISE AND RISE OF THE NEW INFRA INVESTOR

Panel Members David Cooper• , Executive Director, Debt Investments, IFM InvestorsChris Wrenn• , Managing Director, Co-Head, Infrastructure Debt Group, BlackRock Alternative InvestorsEilidh Mactaggart• , Director, Infrastructure and Project Finance, MetLife Private Capital InvestorsMartin Davidson-Gay• , Director, Four Square Brokerage Ltd (tbc)Daryl Murphy• , Partner and Europe, Middle East and Africa Head of Global Infrastructure, KPMGAndrew Davison• , Senior Vice President, Moody’s Infrastructure Services

Infrastructure debt is varied and brings a diverse mix of investors to transactions where different debt structures and types are required to make asset purchases and investments financially achievable.

This meeting aims to bring together infrastructure finance debt investors who provide different debt structures and products on transactions from across a range of markets and financial instruments and to see how they fit into the European infrastructure market space.

When: 08.30-09.45, Tuesday 17th March 2015

Where: Clifford Chance, 10 Upper Bank Street, London, E14 5JJ

MAY 2015

THE UK INFRASTRUCTURE MARKET – NEW GOVT, NEW INFRASTRUCTURE PLANS?

The upcoming UK general election will have significant ramifications for investors in UK infrastructure. This meeting will assess the new governments infrastructure investment strategy with input from Infrastructure UK, identify the new government’s investment priorities and discuss whether UK infrastructure will face increased regulatory scrutiny.

When: 08.30-09.45, Date tba

Where: CMS Cameron McKenna LLP, Mitre House, 160 Aldersgate Street, London EC1A 4DD

JUNE 2015

INFRASTRUCTURE AND PENSIONS FUNDS FOCUS: EUROPEAN ENERGY AND INFRASTRUCTURE MARKETS

This session will consist of a panel of leading infrastructure equity and pension funds sharing their views on deal flow, asset pricing and options open to funds for financing their acquisitions across the energy and infrastructure markets covering both primary and secondary market activity.

When: 08.30-09.45, Thursday 25th June 2015

Where: EY, 1 More Riverside, London, SE1 2AF

SaVe THe DaTe – UpCoMiNG iNfiN Uk BreakfaST MeeTiNGS

Questions, Enquiries - Please contact Paul Haley, Managing Director, INFIN on phaley@marketmaker-group.com or +44 7833 222751

I N F R A F I N A N C EBREAKFAST CLUB

INFIN

JOIN US FOR THE LAUNCH OF THE INFIN GERMANY BREAKFAST CLUBDate: Thursday 26th February - 08.30-09.45

Location: Untermainanlage 1, 60329 Frankfurt am Main, Germany

08.00-08.30: Delegate registration, buffet breakfast and networking

08.30: INFIN Welcome

08.30-09.30: Panel session Moderator: Ulrich Helm, Partner, HoganLovells International LLP Panel Members: - Michael Volkermann, Head of Infra & Energy EMEA, Deutsche - Carl Jobst Hörsten, Managing Director & Head, DIF Germany

- Jörn Kreischer, Head of Project Finance, HOCHTIEF AG - Roland Schmidt, Managing Director, Macquarie Capital - Andreas Parzych, Head of Continental Europe, John Laing - Thomas Brehler, Global Head, Power, Renewables and Water, KfW IPEX-Bank GmbH

09.30-09.45 Audience Q&A

09.45: Closing comments, end of meeting and post meeting networking