Age 24 Age 52

Projected Life Expectancy

YEAR AT BIRTH AT AGE 65

1900 50 77

1950 68 79

2000 78 83

2050† 89 102

†DHHS high series estimates for life expectancy

…and opportunities are particularly strong in the Gulf region

Significant unmet medical need in the Gulf

Significant unmet medical need in the Gulf

Transformative medical breakthroughs

Transformative medical breakthroughs

• New therapies in development could revolutionize treatments for patients in the Gulf (e.g., cell therapy that cures cancer)

• Many therapies which are currently approved in other regions are not approved in the Gulf

Conservatively valued Healthcare assets

Conservatively valued Healthcare assets

• Currently there is a limited amount of capital devoted to developing healthcare technologies in the Gulf region

• The Gulf region is outside the focus of most pharma companies, presenting licensing opportunities at low valuations

• Diabetes prevalence in the Gulf region is double that of other nations (9.2% versus 5%) and is projected to increase faster than any other region

• Cancer currently accounts for 15% of all deaths in the Gulf region with death rates increasing over 60% in the next 20 years

We believe there is an opportunity for a Gulf-focused Healthcare Fund

Saudi Arabia exemplifies the opportunities for healthcare investment in the Gulf region

Rapid population growth with increasing burden of disease

Rapid population growth with increasing burden of disease

Growing market for new pharmaceutical products

Growing market for new pharmaceutical products

Opportunity to build healthcare innovation infrastructure

Opportunity to build healthcare innovation infrastructure

• Saudi Arabia has the largest and fastest-growing population in the Gulf (26M growing at 3% per annum)

• Over 50% of the population classified as overweight, 30% of the population suffering from type II diabetes, and diagnosis of cardiovascular diseases quadrupling annually

• Saudi drug market worth around SR 9.94B (USD 2.65B) in 2008, with spending in the sector expected to increase to SR 13.09B (USD 3.49B) by 2013 (CAGR 5.6%)

• Per capita spend on pharmaceuticals 150% that of the rest of the Arab World, with patients favoring branded products over generics (market share of generics in Saudi Arabia is 5.8% vs. 50% in many European countries)

• Life sciences identified as priority area for development by the Kingdom with regulatory and financial incentives in place to enable healthcare technology development

• More than 82% of the medicines utilized in Saudi Arabia are imported; huge opportunity to develop adjacencies in manufacturing and distribution

Source: Middle East Economic Digest, Saudi Arabian General Investment Authority (SAGIA)

Bringing impactful healthcare productsto the Gulf region

•Identify and evaluate new product opportunities

•In-license rights for the Gulf region

•Develop products jointly with innovator companies

•Commercialize newly approved products

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