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JV Structure Steps Plan

Petro Saudi International. JV Structure Steps Plan. CURRENT STRUCTURE. Shareholders. Tarek. Separate holding structures for the Turkmen and Argentinean assets. Petro Saudi International (Saudi). Petro Saudi Ltd Inc (Panama). Petro Saudi International Holdings Cayman Ltd (Cayman).

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JV Structure Steps Plan

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  1. Petro Saudi International JV Structure Steps Plan

  2. CURRENT STRUCTURE Shareholders Tarek • Separate holding structures for the Turkmen and Argentinean assets Petro Saudi International (Saudi) Petro Saudi Ltd Inc(Panama) Petro Saudi International Holdings Cayman Ltd (Cayman) Argentinean Assets Petro Saudi International (Cayman) 1MDB Petro Saudi Ltd (BVI) Petro Saudi Turkmenistan 1 Limited(Jersey) Turkmen Assets 3047817

  3. STEP 1 • Tarek transfers Petro Saudi Ltd Inc to Petro Saudi International (Cayman) • Consideration for transfer is $1 Shareholders Tarek Petro Saudi International (Saudi) Petro Saudi Ltd Inc(Panama) Argentinean Assets Petro Saudi International Holdings Cayman Ltd (Cayman) Petro Saudi International (Cayman) 1MDB Petro Saudi Ltd (BVI) Petro Saudi Turkmenistan 1 Limited(Jersey) Turkmen Assets 3047817

  4. STEP 2 Shareholders • Petro Saudi International Holdings Cayman Ltd transfers Petro Saudi International to 1MDB Petro Saudi Ltd • Consideration for transfer is issue of $1.5 billion new equity and a shareholder loan of $700million Petro Saudi International (Saudi) Petro Saudi International Holdings Cayman Ltd (Cayman) $1.5b new equity $700m loan 1MDB Petro Saudi Ltd (BVI) Petro Saudi International (Cayman) Petro Saudi Turkmenistan 1 Limited(Jersey) Petro Saudi Ltd Inc(Panama) Turkmen Assets Argentinean Assets 3047817

  5. STEP 3 Shareholders • 1Malaysia Development Bhd subscribes for new shares in 1MDB Petro Saudi Ltd equal to 40% of its total issued share capital • Consideration for subscription is $1 billion Petro Saudi International (Saudi) 1Malaysia Development Bhd(Malaysia) Petro Saudi International Holdings Cayman Ltd (Cayman) 60% $1b for 40% equity 1MDB Petro Saudi Ltd(BVI) Petro Saudi International Cayman (Cayman) Petro Saudi Turkmenistan 1 Limited (Jersey) Petro Saudi Ltd Inc(Panama) Turkmen Assets Argentinean Assets 3047817

  6. STEP 4 Shareholders Petro Saudi International (Saudi) 1Malaysia Development Bhd(Malaysia) Petro Saudi International Holdings Cayman Ltd (Cayman) 40% 60% Repayment $700m loan 1MDB Petro Saudi Ltd(BVI) • 1MDB Petro Saudi Ltd repays $700m shareholders loan to Petro Saudi International Holdings Cayman Ltd • Downstream funding and new investments to be considered in due course Petro Saudi International Cayman (Cayman) Petro Saudi Turkmenistan 1 Limited (Jersey) Petro Saudi Ltd Inc(Panama) Turkmen Assets Argentinean Assets 3047817

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