InvestCapital Markets Limited

COMPANY PROFILE

Equity, Fixed Income & CommodityBrokerage

Corporate Finance & AdvisoryInvestment Advisory & Research

Introduction

Invest Capital Markets Limited “InvestCap” is a financial services firm providing financial

management, advisory and brokerage services with branches in three major cities of the country.

TRECHolder of the Pakistan Stock Exchange Limited (formerly Karachi Stock Exchange Limited) and

Corporate Member Pakistan Mercantile Exchange Limited (Formerly National Commodity

ExchangeLimited).

Since 1994, InvestCap has been one of the main players in the Financial Industry and has achieved

enormous growth. InvestCap is sponsored by a multinational group of investors including a

successful entrepreneur from UAE and a group of professionals from the banking / financial

industry of Pakistan.

Our Values

InvestCap has a strong belief in ethical business practices, integrity, efficiency and innovation.

Thesefour principles serve ascorner stones of our company’s corporatephilosophy.

Our Clients

The Company serves a diverse client base, that includes financial institutions, public and private

sector corporations and high net worth individuals, by providing them with a complete and

comprehensive range of financial services including PortfolioManagement.

Equity, Fixed

Income &

Commodities

Serves top

financial and

corporate

institutionsin

OurHistory

Established

1994

Nationwide

Presence

150Employees

Brokerage

Corporate

Finance

Portfolio

Advisory

both publicand

private sector

OurServices

EquityMoney Market

& FXCommodities Research

Corporate Finance

Investment Advisory

Why InvestCap?

Continuously dedicated research

team providing ongoing stream of

information necessary for

investment process

Efficientand

InvestCapCredentials

• Serving capital market

participants since1994;

• Fully experienced in portfolio

management and equity markets

trading;

Team of professionals fully

committed to identifying

opportunities in capital & money

market

Experienced analysts presentfull-

time to monitor the dynamics and

manage risks effectively

prudent

management of

fund along with

enhanced returns

and minimizedrisk

• Talented and experienced team

of financial analysts,accountants,

portfolio managers and research

analysts;

• A dedicated and tested

information system to cater to

clients and toreport the portfolio

dynamics accordingly;

• Vastnetwork in the interest rates

market catering to treasurers

everyday;

Corporate Finance

We specialize in Mergers & Acquisitions and have completed M&A transactions worth US$ 1billion.

Our team utilizes its extensive in-house resources and draws on the valuable expertise of its associated

member consultants, if required, to cater to a broad spectrum of clients, with an emphasis on providing

tailor made innovative financial solutions toits clients’ requirements.

Our Corporate Finance Advisory services and capital markets expertise, coupled with a strong business

community network and reputation, has resulted in InvestCap becoming one of the most multi-

dimensional institution in the industry.

InvestCap has provided financial advisory and capital raising services to a number of blue-chip Pakistani

and international corporations, aswell asGovernmentAgencies.

We have undertaken the placement of Corporate Equity and Debt Instruments, underwriting of new Debt

and Equity Issuesand arranging public flotation of theseissues.

Corporate Finance team comprises of investment banking professionals possessing diversified industry

experience. The team members have been involved in handling plain-vanilla to sophisticated structured

financing deals for companies from financial tomanufacturing sectors.

The team has a hands-on experience of managing complete chain of activities of investment banking

deals from scratch till financialclose.

Our key transactions mentioned ahead will provide a snapshot of our dedicated and professional

commitment to our valued Investment Banking / Corporate Finance clients.

Corporate Finance -Services

Debt CapitalMarkets

SyndicatedLoans

Equity CapitalMarkets

Initial Public

Offerings (IPOs)

Offer for Sale

Advisory

Mergers &

Acquisitions

ProjectAdvisory

PrivateEquity

Deal Flow

Management

DueDiligenceShort term / Running

Finance

TFCIssuance

ProjectFinance

Multilateral

Financing

Preference SharesFinancial

Restructuring

Divesture ofAssets

Privatization

BusinessPlans

Deal Structuring &

Pricing

Valuation of

Portfolios

Valuation of

Companies

Corporate Finance - Track Record: KeyTransactions

Buy Side Advisors to a

consortium of IFC, Bank

Muscat, NomuraInternational

and SinthosCapital

US$ 244million

Lead Advisors to

Government of Sindh on

Establishment of Sindh

Bank

PKR 10billionPKR 4.1billion

Sell Side Advisors to NIBBank

Ltd. on sale of PICIC Asset

Management CompanyLtd.

US$ 156million

Buy side advisory to Hub

Power Company Limited on

the acquisition of 84MW

Hydel IPP Laraib Energy

20082010

US$ 228million

Sell Side Advisors Prime Bank

on its sale to ABMAMRO

2007

US$ 441million

Sell Side Advisors to Union

Bank on its sale toStandard

Chartered

2006

2015-16

Buy Side Advisors to Prime

Bank on its acquisition of

Emirate Bank International

Pakistan Operations

2002

2008

Private placement of Equityof

DHA Cogen Limited, a power

generation & desalination

project

US$ 100million

2007

Corporate Finance - TrackRecord

Advisors and Arrangers - Mergers & Acquisitions

Lead Advisors to NIB Bank Limited for sale of 100% equity stake in PICIC Asset Management

Company Limited for PKR 4.1billion.

Lead Advisors to Government of Sindh on establishment ofSindh Bank.

Buy side advisory for the acquisition of Saudi Pak Commercial Bank amounting to USD 244

Million.

Buyside advisory to Hub Power Company Limited on the acquisition of 84MW Hydel IPP.

ABN AMRO Bank Limited’s acquisition of Prime Bank recently. Advisory services as a Sell Side

Advisor.

Sell side advisors to Union Bank Limited in its sale of its operations to Standard Chartered Bank

for $411 Million,which is Pakistan’s largest private sector transaction.

Acquisition of AVA (Mineral Water) by Artal Granasia Limited, a leading European Food

Conglomerate.

Buy Side Advisor for the acquisition of ArtalGranasia Poultry.

BuySide Advisor to Prime Bankon the privatization of the First Women Bank.

Buy Side Advisor for the acquisition of AlliedBank Limited.

Buy Side Advisor for the acquisition of Emirates InternationalBank (Pakistan Operations).

Corporate Finance - TrackRecord

Advisors and Arrangers - Equity Placement & CorporateRestructuring

Equity Placement of power generation and desalination project of DHA Cogen (Pvt.)Ltd.

Goldman Sachs – Domestic Senior Advisor for PTCLPrivatization.

Provided financial structuring support for the privatization of Saudi PakFertilizer.

Advisor to the Rights Issue of UnionBank Limited.

Advisors and Arrangers - Corporate Debt Placement

Listed, Rated TFC of Rs.750 Million of Saudi Pak Leasing CompanyLimited.

Morabaha (Islamic Structure) financing facility for First Al-Noor Modaraba Limited.

Long Term Placement of Rs.200 Million for Orix LeasingLimited.

Structuring and Syndication of Rs.1,000 Million Term Finance Certificates forSui Southern.

Placement of Rs.200 Million Askari Leasing’s Term FinanceCertificates.

Syndication for discounting of Rs.3 Billion promissory notes issued in favour of M/s. Bayinder

Limited, a Turkish Company by the National HighwayAuthority.

Rs.200 million Term Finance Certificate of Saudi Pak Leasing CompanyLimited.

Brokerage Services

EquitySales

InvestCap has established itself as a premier equity

broker over the past decade and its expertise in this

area are well recognized.

Since its inception in December 1997, our equity

brokerage operation has enjoyed unprecedented

growth.

Equity SalesServices

In addition to Karachi, a strong presence in Islamabad

and Lahore has provided great strength and support

to this area ofour operations.

We are on the panel of all the leading local

institutional investors of the country and also cater to

foreign investors.

Have won recognition as both the best equity

research house and the best overallbrokerage.

Invest Capital has never run a proprietary trading

book, and our investment advise has always been well

researched, fair, andobjective.

EquityTrading

BlockTrades

Private Placements

Brokerage Services

Money Market &FX

A pioneer in the area of trading money market funds

on behalf of some of theleading financial institutions.

InvestCap is also one of the first companies in

Pakistan to serve as a market maker for Corporate

Debt (TermFinanceCertificates).

Money Market

Repurchase Agreement

ForeignExchange

Spot Transactions

Our area of expertise also extends to trading

sovereign debt. Today, we execute on average Rs.15

billion out of an OTC market average daily volume of

PKR40 billion.

InvestCap provides this service to all leading local and

multinational banks, & major nonbanking financial

institutions, garnering approximately 35% of the

executions for overnight and longer tenorpaper.

By combining essential economic analysis with market

information, the InvestCap team has successfully

maintained its lead over the other players in this field.

Outright Sale/Purchase

Structured Transactions

CleanDeposits

Corporate Placements

Forward Transactions

Swap Transactions

Placement of US $Deposits

Brokerage Services

Commodities

As the pioneers of exchange traded commodities in

Pakistan, InvestCap enjoys a unique position in the

market.

CommodityContracts

Gold 1/10/100 Oz

Silver 10/100/500 Oz

Top Commodity Brokerage House of Pakistan

Mercantile Exchange Limited (PMEX).

First delivery of 3kg of Gold was taken byus.

We are also providing market making in cash settled

and deliverable Gold contracts atPMEX.

At InvestCap, we have developed a strong expertise in

this area so as to be able to provide an additional area

of investment to ourclients.

We offer professional trading support to ourclients

and keep them up-to-date with the latest

developments in local and international commodity

markets.

Crude Oil 10/100 USbbl

Rice

Sugar

Wheat

Clientele

We work with all commercial & investment banks, mutual funds and multinationals on a

regular basis and our team enjoys excellent working relations with ourclients.

Some of our major clients are:

Research Desk -Overview

Awarded “Best Equity Research House” and “Best Equity Research Analyst” by CFAAssociation of

Pakistan.

All the business segments at InvestCap are supported by a team of in-house research professionals

providing fundamental analysis of the industry and the economy asawhole.

InvestCap Research, with a comprehensive financial and economic database strengthens and

enhances InvestCap’scapability to make available timely, relevant and accurateanalysis.

The InvestCap Research team assists the corporate finance, fixed income/treasury along with the

equity sales team by carrying out regular, thorough, original and independent analysis of the

prevalent economic environment.

InvestCap Research team keeps track of the constantly changing market conditions, identify the

market trends and dynamics and their eventual impact on key economic fundamentals like

growth, inflation, interest rates and all other areasof the economy.

Based on this research, strategies are devised for fixed incomeinvestors.

InvestCap being the first company in Pakistan to introduce Derivative product solutions backed by

sound research attempts to facilitate its clients to take calculated decisions.

We pursue to maintain a clientele with a long term perspective aiming to maximize the return on

investment for our clients in line with their respective risk aversive nature.

Research Desk -Publications

Daily Reports

ValueSeeker

WeeklyReports Monthly ReportQuarterly /

Annual Publications

Investment

Investats

Investrend

Infonalysis

FuturesReport

Treasury Focus

EarningGuide

Weekender

Investment Guide

Sector/ Company

SpecificDetailed Reports

StrategyReport

Review / Specific Reports on

Economic Issues

Annual Budget Preview/Review

Management Team

Nusrat Yar Ahmad – Founder & ExecutiveDirector

Mr. Ahmad is the founding Chief Executive Officer (CEO) of InvestCap group, and now continues to serve the group. He has

been in the financial industry for over 31 years having a vast experience across International Banking, Corporate Finance,

and Investment & Treasury management and has mostly worked in the international centers of Europe and Middle East. Mr.

Ahmad left American Express Bank Pakistan in 1992 in the capacity of Director Treasury, and setup InvestCap. The banking

industry, regulatory authorities and corporate community consider Mr. Ahmad a highly credible professional. He holds a

Bachelor’s degree in Commerce from Concordia University, Montreal,Canada.

Muhammad Khurshid Malik – Director& Chief Executive

Mr. Khurshid Malik has extensive experience in Commercial & Investment Banking, Corporate Finance and Risk

Management. He has a diversified work experience in Money Market as Country Head of Treasury at Crescent Investment

Bank Limited. And also has substantial experience in management of GOP Sovereign Bonds, arrangement of syndicated

financing and advisory oversight. He has attended various courses on Banking and Business Management conducted by IBA

andPIMS.

Tariq Mehmood – Director & Head, North Region

Mr. Mehmood heads the capital market operations at InvestCap with retail clientele as the core business. Managing client

base, both discretionary as well as non-discretionary, this entails full supervision of risk management, sales team,

settlement procedures and other branch office requirements. He holds MBAwith majors in MIS from IBAand B.Sc. Electrical

Engineering NWFPUniversity of Engineering and Technology. Heis avisiting lecturer in number ofuniversities.

Syed Raheel Abbas – Head of Desk

Mr. Raheel Abbas has rich experience in treasury management which includes Fixed Income, Foreign Exchange & Capital

Markets, he has been recognized for sound accomplishments in sophisticated, innovative and structured trading. He

possesses strong ability to win new business tasks besides good planner to adjust and respond as per market conditions.

Raheel Abbas has extensive experience in bankingand also a member of Financial Markets Association of Pakistan.

ManagementTeam

Sohail Yousuf – Head of Equity Operations

Mr. Yousuf has over 20 years of experience in the brokerage industry and has been associated with InvestCap for over 12

years. Mr. Yousuf has vast knowledge of equity operations and manages entire equity operations including coordination with

stock exchange, CDCand SECP.He holds Bachelors degree with science majors from Islamia Science College, Karachi and has

attended various courses,seminars and workshops on equity and capital markets with KSEandCDC.

Akbar Naqi – Head of Corporate Finance

Mr. Naqi is a Masters in Business Administration and a qualified accountant and also holds the International Capital Markets

Qualification (ICMQ) of Securities Institute London. He has more than 15 years of diversified experience of Brokerage,

Corporate Finance, Telecom and Media businesses. He was Head of the Corporate Finance team at First Capital Group which

successfully executed more than US$ 300 million worth of transactions including Mergers, Listing and the First Foreign

Listed Convertible Bond by aPakistaniCompany.

ContactUs

HeadOffice:

C3C, 12th Lane, Ittehad Commercial,

Phase II Ext., DHA,Karachi.

Tel: +92 (21) 3520 5520-22

Fax: +92 (21) 35313887

e-mail: info@investcapital.com

Pakistan Stock ExchangeOffice:

Suite No. 704, KSE Building,

Stock Exchange Road, Karachi.

Tel: +92 (21) 3244 6334-5

Fax: +92 (21) 3244 6336

Islamabad Office:

302, Muhammad Gulistan KhanHouse,

82-E, Fazl-e-Haq Road, Blue Area,

Islamabad.

Tel: +92 (51) 2150039-40

Fax: +92 (51) 2275 202

LahoreOffice:

16-A, Main Gulberg,

Near MCB Tower, Jail Road, Lahore

Tel: +92 (42) 3577 6701-4

Fax: +92 (42) 35776710