Company Update

It is important to note, as part of our efforts in Sri Lanka, that our goals have not changed even amidst current political difficulties. Sri Lanka's fundamentals remain encouraging in the medium-long term, and short term volatility was always expected given we are only 9 years after the end of the 30-year Civil War. The mandate of the company is to lead the development of Sri Lanka, and to help transform her from lower-middle income status to high-income status over the coming 20-30 years. This goal has not changed, and our efforts will remain focused in achieving this by following our four principles: generate revenue; create jobs; stimulate economic recovery; and inspiring change.

We however recognise the need to diversify our risk, and take advantage of lower-risk opportunities in the UK and across Europe and SE Asia. This also happens to fall at a time of increasing uncertainty in UK and European politics, which in addition to rising US interest rates and growing global instability and nationalism, is creating an atmosphere of market volatility which has been seen the past 9-12 months. We see opportunity here, where as part of Belt & Road, leveraging our experience and expertise gained through Sri Lanka, to also make an impact from both a distressed angle and longer-term infrastructure angle. Sticking to our same principles, we are now structuring our Sri Lanka and post-conflict redevelopment position as part of a wider portfolio approach, forming part of the frontier and opportunistic portfolio, which will be balanced by more stable and lower-risk assets in lower-risk markets such as the UK. This balance portfolio approach is to create more fiscal stability for the company, and creates a strong enough base from which we can take advantage of unique opportunities when they become available on the emerging and frontier end. We are incredibly excited and empowered by this new approach, given the new ability to make an impact, create more stable economic growth, and therefore be in a stronger position to make long-lasting change in the higher-risk but higher-need countries such as Sri Lanka. We therefore will be using our Sri Lanka office as the regional SE Asia hub, and will be growing our UK office to extend its reach across Europe as we begin building strategic partnerships and our pipeline for investment and growth.

This is an incredibly exciting period for us, where we see a better future for everyone, and we are motivated to connect the dots and make it happen. Our methods are simple, where real estate acts as the vehicle for change, and everything in between including all of the people, is where we find innovation. Our focus areas will remain healthcare, commercial mixed-use, and hospitality, where we will continue to leverage Art & Culture to be connected with communities and the fabric of societies.

Thank you very much.

Naveen Anandakumar

CEO