Capability Statement

February 2013

Octane: A valuable advisory partner for all overseas investors interested in the Greek market
Founded in 2007 by experienced consultants with over 25 years combined track record in Greece and abroad
Positioned to provide expert-level strategic advice to Greek and international businesses for strategy, restructuring and market management

History

An experienced senior team with international training and extensive Greek and international track record handling large and complex projects for major private and public sector clients

Team

Previous team experience includes senior positions at the Greek Government, Booz Allen & Hamilton, Barclays Capital, FORTIS Bank, JW Thompson and KANTOR Management Consultants A rigorously trained team of seven consultants and analysts with experience as part of more than 50 strategy, business planning and implementation support assignments A strong supporting network of expert advisors and subcontractors Over 100 strategy, restructuring and corporate finance projects for some of the largest companies of the Greek Private & Public sector as well as international investors interested in the Greek market Offering a powerful combination of local presence, intimate market knowledge, international experience, and subject expertise

Track Record

OCTANE has provided strategic advice to several Greek private investors, funds and shipowners as well as the CEOs of companies such as S&B Industrial Minerals, Olympic Airways Services, Olympic Airlines, Hellenic Petroleum, DESFA, PPC Renewables, TRAINOSE, WIND, VESTAS Hellas, SUNLIGHT and EMPORIKI-Credit Agricole
Since our inception we have been trusted with strategy and reorganization projects by 15 of the top 200 companies in Greece More than 80% of our clients present us with repeat assignments, recognizing the value and professionalism of our project work
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Offering a full range of consulting and advisory services throughout the investment process
TARGET IDENTIFICATION: We systematically examine the competitiveness of several companies or sectors and identify the ones with the highest value-generation and growth potential.

PreAcquisition

STRATEGIC MARKET ASSESSMENT: We conduct a detailed mapping and scenario analysis of the market dynamics (demand, competitors, trends, regulatory issues) for a targets markets and evaluate their key risks and opportunities. BUSINESS REVIEW AND VALUATION: We execute a rapid and systematic evaluation of the key sources of value for an acquisition target across several specific dimensions through a series of structured tools, benchmarks and methodologies.

TURNAROUND ROADMAP AND BUSINESS PLAN: We focus on the key areas of value generation or destruction and generate a practical, immediately implementable turnaround roadmap which generates quick wins and streamlines a companys resources.

PostAcquisition

MONITORING AND IMPLEMENTATION SUPPORT: We serve as the eyes and ears of the investor into the company, ensuring the implementation of its restructuring plan serving either as project managers, monitors or even as board members. OTHER SERVICES: Besides the above tailored services for post-acquisition support, our full portfolio of services in the areas of Applied Strategy, Operations, Marketing & Sales, and Internal Alignment is applicable depending on the needs of the acquired company.

The Octane Senior Team

Highly Experienced Core Senior Execution Team

Yanni Spiropoulos Managing Partner Co-Founder

George Pavlatos Senior Partner Co-Founder

> 20 years of consulting experience and track record in the execution

of more than 300 strategy, performance improvement, acquisition support and privatization projects, both in Greece and abroad Previously held senior positions at Kantor, JWT and Booz Allen & Hamilton Received a BA from Harvard University and an MBA from INSEAD Past Experience

> 10 years of consulting experience, specializing in applied strategy

and project management. having supported companies ranging from new ventures to some of the largest Greek corporates, as well as the Hellenic Republic and a number of state-owned companies Previously was Lead Consultant in the private sector unit of Kantor Management Consultants in Athens Received a Masters of Engineering from Durham University and an MBA from INSEAD Past Experience

Served as strategic advisor to CEOs and owners of some of the

largest Greek companies, banks and organizations

Director in Charge of private sector clients and projects at Kantor,

managing a total project portfolio of over 2.5 million

Possesses significant experience in the Energy and Oil & Gas sectors,
having carried out a number of strategic and advisory projects for Hellenic Petroleum, DEPA, DESFA, PPC Renewables, Bitoumina and others

Has directed several assignments for Hellenic Petroleum, PPC,

VESTAS Hellas, DESFA and other major energy clients

Responsible for Kantor Humanis and all of Kantors HR projects in the

private and public sector

Led several large and complex assignments such as the privatization

effort of Olympic Airways through the creation of Olympic Airlines, the restructuring of Emporiki Banks Retail Recovery unit and a number of strategy projects for S&B Industrial Minerals Member of Kantors Corporate Finance team, handling several large privatization and restructuring projects

Executive Vice-President at JWT / SPOT Thompson, in charge of new

business development and key account strategy

Senior Consultant at Booz Allen & Hamilton (UK) affiliated with the
Industrial Clients group

The Octane Senior Team

Highly Experienced Core Senior Execution Team

Dimitris P. Christacopoulos Senior Partner

George Kyriakos Executive Director

> 20 years experience in corporate banking and consulting in Greece,

the United Kingdom, and the United States Received a Chemical Engineering Degree from National Technical University of Athens and an MBA from Columbia Business School Past Experience

over 24 years of experience in senior level managerial positions, in the

private and public sector. Received a Bachelor Degree of Denver University in Business Administration, a Master Degree in Management from Boston University, Mr Kyriakos has broad experience in cost cutting, privatization, formulating and implementing commercial strategies, brand management and turning around non profitable companies. Past Experience His latest position, reporting to the Greek Minister of Finance, was Special Secretary for Greek State Owned Companies and for privatization, where he was responsible for the restructuring of 170 publicly owned corporations and the implementation of the privatization plan. He managed to reduce the operating cost of SOES by more than 1 billion during the 2010-12 periods. Mr. Kyriakos has also served as Executive Board Member of OPAP S.A. and Vice President for OPAP Cyprus. Before OPAP, he was CEO of Superleague in Greece, and has worked for 18 years in Heineken both in Greece and France, as Marketing Director and Sales Director always reporting to the CEO of the Company. He has been a Chair member of OECD working Group for State Owned Enterprises and Privatization from 2010 to 2012.
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Previously was Deputy Country Head and Head of the Energy Desk
for Fortis Bank in Greece and held senior positions at Barclays Capital and Booz Allen & Hamilton

Global relationship coverage including corporate, project, and trade

finance products to all major Greek shipping and energy players (Hellenic Petroleum, PPC, Motor Oil, Gek Terna, etc.)

Experience with some of the largest banking institutions in the world

for complex corporate finance, restructuring and strategy projects, both as a consultant and as a senior executive

Strong track record in providing CEO-level advice and is experienced

in corporate and project finance, as part of his tenure in Fortis Bank Director at the Strategic Planning & Corporate Advisory unit of Barclays Capital in London Director at Booz Allen & Hamilton (USA)

Octane has performed strategy and organization projects for some of the largest Greek corporates

Our Sectoral Experience

The OCTANE team can provide market analysis, target identification and assessment for several sectors of the Greek economy which have been recognized as Growth Opportunities

More specifically, we have the experience and contacts to cover the following sectors: Tourism (hotels, resorts, marinas, health tourism etc.) Energy (oil, natural gas, electricity, renewable energy etc.) Infrastructure (roads, airports, railroads, water & sewage, ports etc.) Food (packaged foods, specialty foods, olive oil, herbs etc.) Telecommunications & technology (mobile, fixed, data, e-commerce etc.) Pharmaceuticals (generics and branded) Transport and logistics (by rail, trucks, airlines, seaplanes etc.)

Strategic Project Track Record

Client WIND Hellas Paddy Power Plc. Project Business Process Reengineering Greek Market Assessment & Entry Strategy Strategic Plan for International Expansion Food Market Assessment Assessment of the market for energy efficient buildings Industrial Mineral European Market Assessment 3-year Strategic Plan Business plan for on-line green bank Pre-acquisition Market Due Diligence Pre-acquisition Market Due Diligence Building Material (confidential) Global Market Assessment 3-year strategic growth and marketing plan Greek banking market assessment Athlitiko Epixeirein Business Plan Growth Strategy Year Ongoing Ongoing Brief Description Assessment and redesign of more than 500 core procedures of the company, including commercial activities, financial and capital investments, strategic planning and network Full mapping of the Greek online gaming market (demand, supply, competitive landscape, legal framework), assessment of the deregulation impact, and development of alternative market entry scenarios Identification of high-potential markets for online travel services in Central and Southeastern Europe. Formulation of a strategic plan for the expansion of the clients activities in the region. Data collection and compilation, primary research and strategic evaluation of the different potential market entry and acquisition opportunities in the Greek and Balkan food industries Sizing, evaluation of the potential future demand and competitive landscape and generation of a detailed market entry business plan for energy efficient buildings Assessment of the suitability of the material, the supply and demand outlook in the European market and the required investment for the production of suitable grades ofmaterial, leading to a detailed financial assessment of the project. Evaluation of market alternatives to increase the Banks footprint in the Greek mortgage loans market, with a goal of increasing sales by almost 50% over the next 3 years. Detailed market analysis, evaluation of competitive offerings, primary market research (focus groups, quantitative research) and generation of a detailed operating, marketing and business plan for the launch of a completely virtual (web/mobile) green bank Strategic assessment of the global supply and demand outlook for 2 specialized industrial minerals being produced by a potential takeover target. Strategic assessment of the global supply and demand outlook for a specialized industrial mineral being produced by a potential takeover target. Strategic assessment of the global supply and demand outlook for a specialized building material. Detailed market analysis, segmentation and strategic growth planning for GENIKI Bank in Greece, including the use of online banking for several segments and products Detailed assessment, data collection, sizing and strategic evaluation of the Greek retail and wholesale banking market and key players Examination of several different sports-related industries, selection of the 4 most attractive ones and creation of detailed business plans for the expansion of OPAPs activities into these fields Assessment of all activities of the Lambrakis Press Org., evaluation of the market potential for each activity and development of an overall strategy for the Greek market Service Telecoms, Online B2C services Gaming

Undisclosed
Confidential private investor SUNLIGHT SA Confidential Client in the Mining Industry UCI Hellas Private investor S&B Industrial Minerals S&B Industrial Minerals S&B Industrial Minerals GENIKI Bank / Societe Generale FIDELITY Investments OPAP DOL (Lambrakis Organization)

Ongoing

Online B2C services

Strategic Market Assessment (GR) Strategic Market Assessment (GR) Strategic Market Assessment Online B2C services Online B2C services Strategic Market Assessment Strategic Market Assessment Strategic Market Assessment Strategic Market Assessment / Online B2C services Strategic Market Assessment (GR) Betting Media / Web

Ongoing 2011 2011 2011 2010 2009 2008 2008

2007 *
2007 * 2005* 2004 *

Note: projects executed before 2007 (marked with *) were directly managed by Octanes Partners in previously -held positions.

Public Sector and Privatization Track Record

Client Hellenic Republic Asset Development Fund Olympic Airlines Olympic Airways Services Trainose DESFA (Hellenic Natural Gas Network Operator) Project Merger of Hellenic Tourist Properties & Public Real Estate Corporation Profitability Analysis and Management Support Business Planning and Management Support Redesign of Cargo Pricing Structure Year 2012 2008-2009 2008 Brief Description Advisory to the HRADF for the merger of all State-owned real estate assets into a single entity and development of the optimal organization structure for the maximization of the privatization returns Advisory services to the companys CEO on all aspects of the privatization project. Updating of the Business Plans for the companys Maintenance and Ground Handling activities. Advisory services to the CEO on all aspects of the privatization project. Analysis of existing cargo contracts and reverse-engineering into an implied common pricing structure. Identification of discrepancies and formulation of a uniform, consistent and transparent pricing policy, leading to savings of over 20 million per annum. Drafting of the organizations strategy in close collaboration with the companys CEO. Preparation and coordination of a strategy workshop with the senior management team, translating the strategy into an actionable plan for each division. Understanding of the key strategic targets of PPC renewables and generation of a balanced scorecard-based KPI system for the key business units (Hydro, Wind etc.) Benchmarking of performance and salary levels of Hellenic Petroleums headquarter staff and three refineries, and generation of an overall HR strategy and negotiation platform Creation of a detailed route profitability model, leading to an overall company performance model as a management decision-making tool. Generation of business plan and overall project plan, co-ordination of banks, legal firms and other consultants, and full project management support of the efforts to privatize Olympic Airways Assistance in the design, communication and execution of the tender process, evaluation of submitted proposals for tourist development and support to ETA for the sale of Afantou and Anavyssos properties. Detailed business plan and feasibility assessment of several strategic options for OPAP to increase its revenues by investing in services Sector Real Estate Aviation Aviation

2008

Rail Transport

Strategy Formulation

2008

Energy

PPC Renewables

Strategic KPIs definition

2008

Energy

Hellenic Petroleum

HR Strategy

2008

Energy

Ministry of Transport

Privatization Support for Olympic Airways

2000-2004*

Aviation

Hellenic Tourist Properties OPAP

Sale of strategic assets Business plan for services

2000-2004* 2004*

Tourism, Real-estate Gambling

Note: projects executed before 2007 (marked with *) were directly managed by Octanes Partners in previously -held positions.