WHOWEARE

ADCisaprivatelyownedcorporationestablishedin1992asaProprietaryLimitedCompanyunderSouthAfricanLawbasedinclosevicinitytoJohannesburg,SouthAfrica.ADCProjectsLimitedwasestablishedin2012inHongKong.ADCspecialisesinProjectDevelopment,ProjectManagementandEngineeringServicestotheheavyindustry,withspecificinterestintheenergysector.WhereClientsareinneedofelectricity,ADCdevelopsPowerGeneratingFacilities,andarrangesequityanddebtfundingthroughawell-establishednetworkoffinanciersandinvestors.Aspartofourserviceoffering,ADCalsoprovidesOperationandMaintenanceServicesforPowerGeneratingPlantsandassociatedTransmissionandDistributioninfrastructureonbehalfofourClients.ANADCDEVELOPEDANDMANAGEDPOWERFACILITY

SERVICESADCPROVIDESARANGEOFDETAILSERVICESTHATINCLUDE:

DETAILEDSERVICES

PROJECTDEVELOPMENTADC provides comprehensive project development services compris ing technical , f inancia l and commercial feas ib il ity studies. Theseincludethemanagement of lega l, environmental and regu latory requirements to the level o f bankable feas ib il ity .

• Businessstructuring;• Technicalfeasibilitystudies;• Projectestimatingandplanning;• Regulatorydocumentpreparation;• Projectpermitting;• Economicevaluations;• Financialmodelling;• Tenderingandcontractpreparation;• Sourcingoffunding;and• Projectstructuring.

PROJECTMANAGEMENTADC employs proven and tested projec t management pr inciples basedonmanyyearso fhardcoreproject managementexper iencein the chemical , petro -chemica l, mining and power andtransmiss ion sec tors. This portfo l io of processes and systemsal lows us, together with our Cl ients and Contractors, to develop/ implement:

• Scopedefinitionsandvariations;• Tenderpreparationandevaluation;• Contractingstrategiesandplansofexecution;• Costandschedulecontrols;• Contractmanagement;• RegularwrittenreportingtoClients;• Commissioning&handoveractivitiespreparationandmanagement;• Projectclose-outmanagement.

ADC 's project contro ls a re comprehensive andadaptableto projec t andCl ient-spec ific needs.Deta il serv icesthat weprov ideare:

• Projects’scopesofwork;• Breakdownstructures;• Projectestimatesandschedules;• Costandschedulecontrolsandstructuredriskanalyses;• Constructabilityassessments;• Designreviews;and• Hazardousandoperabilitystudies(Hazops).

PROJECTDEVELOPMENTPROJECTMANAGEMENTENGINEERINGMANAGEMENTCONSTRUCTIONSUPERVISIONOPERATIONSANDMAINTENANCEMANAGEMENTOFSPECIALPURPOSECOMPANIESINTHEPOWERINDUSTRY(SPVMANAGEMENT).

SERVICESCONTINUED

ENGINEERINGMANAGEMENTADCprovidescomprehensiveprojec t development serv icescompr is ing technica l, financ ia l and commercia l feasibi li ty studies. These include the management o f lega l, environmental and regula tory requirements to the level of bankablefeasibi l i ty.

Our engineer ingdiscipl inesinc lude:

• ElectricalandInstrumentation;• Process/Mechanical/Piping;and• Civil.

CONSTRUCTIONSUPERVISIONADC S ite Representat ives communicate s ite ac t iv it ies, ident ify r isks andimplementcorrec tivemeasuresto ensureboth contrac tua l and lega l compliance. ADC 's transparent approach is charac ter isedby regular reporting and regular Cl ient l ia ising. On-s ite func t ionsthat weprov ideinc lude:

• Developing,implementingandcontrollingquality,environmental,andhealthandsafetysystems;• Monitoring/controllingsiteactivities;• EnsuringContractorlegalcompliance;• Conducting/guidingpre-commissioningandcommissioningactivities;and,• Ensuringproperhandoverofnewfacilities.

OPERATIONS&MAINTENANCEADC has long-term contracts to operate and ma intaine lec tr ic ity generating fac il i tiesand integratedtransmiss ionanddistributionfac i li t ies inSouthAfr icaandMozambique. Our Operators are fully trained and wel l-qua l if ied to operate and mainta in power generat ing and electr ica lfaci l i ties on beha lf o f our Cl ients. They are a lso qual i fiedand l icensed to switch high voltage equipment in termsof the appl icable regula tions. Exper ienced head officemanagement and engineer ing sta ff supports these on-s ite teams. ADC prov ides these serv ices to Developers and Owners o f power plant faci l it ies, and is able to struc turethe serv icesto meet the spec ific requirements and preferences o f our Cl ients.

Operationa l responsibil i t ies of ADC inc lude:

• Fulltimeoperationsandmonitoringof powergeneratingandintegrated transmissionanddistributionfacilities;• Procurementandmanagementofspares;• Performingallmaintenancetasksthatare notcontractuallyrequiredtobeperformed bytheoriginalequipmentsupplier;• Managingofbreakdownsandinterfaces withsuppliers;• Ensuringlegalcomplianceinaccordance withallapplicableregulatoryrequirements;• Performingofallbusinessadministration associatedwiththeoperations;• Preparationoftechnicalandfinancial reports.

CONSTRUCTIONSUPERVISIONBYADC

SERVICESCONTINUED

SPECIALPURPOSECOMPANIESMANAGEMENTAt present, ADC has three (3 ) long-term contrac ts tomanage Spec ia l Purpose Independent Power Producer Companiesonbehalfo f theCompany OwnersandLenders.

Serv ices thatADC prov ide inc lude:

ANOPERATORATANADC-MANAGEDGASFIREPOWERPLANT.

BUSINESSMANAGEMENTSYSTEMADC is focused on fo l lowing a profess iona l approach in al l of i ts business ac t iv it ies, underpinned by proven andcontemporary business concepts to serve its c l ients thebest way possible. The Company employs structuredbusiness processes referred to as the ADC Business ManagementSystem(ADCBMS).

This modern and comprehensive system a llows fully integrated workf lows throughout the organisa tion. It further a llowsustotrack ,contro landmanageour business and projects in accordance with internat iona l best prac tices.

STRATEGIC

POLICIES

PROCEDURES

PRACTICES&GUIDELINES

WORK&TECHNICALINSTRUCTIONS

FORMS&DOCUMENTS

TheADCBusiness ManagementSystem(ADCBMS)

• Financialaccounting;• Bankaccountandpaymentmanagement;• Statutoryauditmanagement;• Reportingtofinanciersintermsofdebt facilityagreementrequirements;and,• Overallequipmentimportandclearance management

QUALITYCERTIFICATIONAll ADC processes, proceduresandworkmethodsarebasedon internat ional ISO standards. TheCompany is ISOcer t if iedfor “TheDevelopmentandManagementof Projects ,Engineer ingSupport Serv icesandtheOperat ionandMaintenanceo f HighVoltageE lec tr ic ity Generat ingPlants” throughIntertekMoody Internationa l.

Wehavethefollowingcertificationinplace:

A Pump Station at an ADC-Managed Power Plant

ENGINEROOMOFANADCMANAGEDPOWERFACILITY

ISO9001: QualityManagement

ISO14001: EnvironmentalManagement

OHSAS18001: OccupationalHealthandSafetyManagement

No Services Client/Project ADCResponsibilities Dates

1

ProjectDevelopment PowerAlt(Pty)Ltd

Gasfiredpowerstation

FullProjectDevelopmentfrominceptiontofinancialclose.Technical/financial/economicfeasibilitystudies,financialmodelling,riskassessmentanddraftingofallcontracts.

2007/2008

2

ProjectManagement

PowerAlt(Pty)Ltd

Gasfiredpowerstation

Projectmanagement,procurement,engineeringreviewsandsitesupervisoryservices.

2008/2009

3

SiteManagementandProvisionofSiteServices

InvestecBank/Enventure/KDM

GasfiredpowerstationinMozambique

Powerstationsiteselection,sitesurveys,transmissionlineroutesurveys,sitegeotechnicalsoilsurveys,EIApublicparticipationprocessmanagement.

2010/2011

4

ProjectDevelopment

InvestecBank/Enventure/KDM

GasfiredpowerstationinMozambique

Projectdevelopmentsupport(Scopedefinitions,tenderpreparations,evaluations,contractualreviews,negotiations).

2009/2013

5 ProjectDevelopment

Harrison&White/BreezePower

Wind,pumpedstorageandhydroprojectsinLesotho

Comprehensiveprojectdevelopmentservicesfrominceptiontofinancialclose:Businessplanning,technical/financial/economicmodelling,riskassessmentsandmitigationanddraftingofcontracts.

11/2012

6

ProjectDevelopment

GeneralElectric(GE)

140MWGasfiredpowerstationinNigeria

HighleveldesktopreviewofProjectDevelopmentdocumentationtoaidininvestmentdecision.

2011/2011

7

ProjectDevelopment

InvestecBankandADC

Rooftopsolarelectricityplant

ProjectopportunityassessmentforanIPP.

2011/2012

8

ProjectDevelopment

ADC/InvestmentBank

Industrialcoalfiredpowerstationandsteamplant

Projectscopingandtechnical/commercialassessmenttoestablishanIPP.

2011/2012

9

DetailDesign GoldFields

Powergenerationfromundergroundmethanegas

Detailelectricalengineeringservicestousemethanegasforelectricitygeneration.

2012/2012

BUSINESSACTIVITIESSINCE2007

KEYPROJECTSCOMPLETED

10

DetailDesign InternationalEngineeringandConstructionCompany

DetailprocessengineeringforafuelgasheaterstationinNigeria.

2012/2012

11

AuditReview

InternationalEngineeringandProjectManagementCompany

Reviewofprojectcostcontrol,variationcontrol,costforecastingandfinancialaccountsrevenueandprofitrecognition.

2012/2012

12

ProjectManagementandSiteSupervision

BasilReadOilandGas

BeatrixWestMethaneDestructionProject

Projectengineeringmanagementandconstructionsupervision.

2012/2012

13 DetailInvestmentDueDiligence

MajorInvestmentFund

75MWheavyfueloilplantinKenya.

Comprehensivetechnical,commercialandoperationalinvestmentduediligence

2012/2012

14

ProjectManagementandEngineering

JubileePlc-PowerAlt

ElectricitysalestoEskom

Commercialdocumentation,(PPARegulatorLicenseetc.)network/protectionstudies,designs,procurementandequipmentinstallation.

2012/2012

15 ProjectManagementandDetailEngineering

MiningCompany

Infrastructureestablishmenttogenerateelectricityfromundergroundmethanegas

Projectmanagement,detaildesignsandinstallationofprotectionequipmentandcablingtointegratetwogasenginesintomineelectricitynetwork.

2013/2013

16 FeasibilityStudies ADCandProjectDeveloper

Powergenerationfromundergroundmethanegas

Initialfeasibilitystudyfortheestablishmentofagasfiredpowerstationonanewlydevelopedcoalmethanegasfield.

2013/2013

17 FeasibilityStudyReviews SNEL/ADB

(GrandIngaHydroelectricPlantintheDRC)

Commercial/financial/structuringreviewsofpre-feasibilityandfeasibilitystudies.

2013/2013

18 ProjectDevelopment Ingérop/ProjectDeveloper

New360MWheavyfueloilpowerplantinGhana

Projectscopingstudies 2014/2014

19

ManagementServices InternationalEngineering/ProjectManagementCompany

Strategicmanagementsupportservices.

2015

20 BusinessManagement(SPV)Services

EternityPower

OrganicRankineCyclepowerplant

BusinessManagementincludingaccounting,debtor/creditor/bankaccountmanagementandauditing/regulatoryinterfacemanagement.

2013/2016

21 OperationalandBusinessManagement

InvestmentBanks

Kelvincoalfiredpowerplant

Onpremisesoperationalandbusinessmanagementservices.

2013/2015

No Services Client/Project ADCResponsibilities Commenced/PlannedCompletion

1

OperationalandMaintenanceServices

JubileePlatinum-PowerAlt

Gas-firedpowerplant

Long-term24/7operationsandmaintenanceservices 2009/2018

2

BusinessManagement(SPV)Services

JubileePlatinum-PowerAlt

Gas-firedpowerplant

Longtermoverallbusinessmanagementservicesincludingaccounting,debtor/creditor/bankaccountmanagementandauditing/regulatoryinterfacemanagement.

2009/2018

3 BusinessManagement(SPV)Services

Soitec

44MWsolarpowerplant

Longtermbusinessmanagementservicesincludingaccounting,debtor/creditor/bankaccountmanagementandauditing/off-takerregulatoryinterfacemanagement.

2013/2016

4

ProjectManagementandSitesupervisoryServices

KuvaningaEnergiaSA

40MWgasfiredpowerplantinMozambique

Projectmanagement,engineeringreviews,sitesupervisionandcommissioningsupportduringprojectexecutionphase.

2014/2015

5

BusinessManagement(SPV)Services

KuvaningaEnergiaSA

40MWgasfiredpowerplantinMozambique

Overallbusinessmanagementservicesincludingaccounting,debtor/creditor/bankaccountmanagementandauditing/regulatoryinterfacemanagement,andimportandtaxmanagement.

2014/2016

6

Operational&MaintenanceServices

KuvaningaEnergiaSA

40MWgasfiredpowerplantinMozambique

Longterm24/7operationalandmaintenanceservicesforpowerstationandHVyardsupplyingpowerintotheMozambiquegrid.

2015/2030

Servicestocommence

1Nov2015

7 EngineeringServices TFM–330kVInterconnector NetworkSimulationandLoadFlowstudiestodeterminenetworkfeasibility

2015/2016

8 EngineeringServices MMG–220kVInterconnector

NetworkSimulationandLoadFlowstudiestodeterminecross-bordertransmissionfeasibility

2015/2016

9 ProjectManagement PPC–220kVnetworkintegration

EPCMprojectmanagementoftheSnelnetworkexpansiontoanewcementplant.

2015/2016

10 ProjectDevelopment LNG360MWPowerBarge Technical,commercialandfinancialdevelopmentsupport. 2015/2016

KEYPROJECTSINPROGRESS

Client/Project Servicesprovided

SasolSyntheticFuels/SASTECHPCSEcoSourceFluorDanielCentralElectricityBoard(Mauritius)UmgeniWaterABBPowertechEskomInternationalMoversRSATechniconAfricanForklifts

ProjectManagementSupportServicesonVariousProjectsProjectManagementServicesProjectManagementServices–WaterTreatmentPlantManagementConsultingServicesEarthMatDesignSoftwareDevelopmentProjectManagementServicesProjectManagementTrainingManagementConsultingServicesDevelopmentofaProjectManagementSystemProjectManagementServicesfortheimplementationofarangeofnewsubjectsManagementServicesfortheimportofforkliftsfromChinaforClientoperations.

OTHERHISTORICALSERVICES

Greenfields40MWGasFiredPowerStationinMozambiqueManagedbyADC(Nov.2015)

ADCOFFICES

SouthAfricaADCProjects(Pty)Ltd(HeadOffice)T: +27126650662F: +27866427589E: info@adcprojects.com1stFloor,Building10,CambridgeOfficePark5BauhiniaStreet,HighveldTechnoPark,CenturionPOBox13374Clubview0014SouthAfrica

HongKongADCProjectsLimited

E: info@adcprojects.com21STFloor,ChinachemTower34-37ConnaughtRoadCentralHongKong

MozambiqueADCProjectsLDAE: info@adcprojects.comKuvaningaEnergiaSAEstradaNationalnº205MANJANGUEMoçambique

ADCHEADOFFICE-CENTURION