Palmerston Equity Partners

1. Palmerston Equity Partners Company presentation January - 2012

2. Table of Content • Introduction • Strategic Advisory / Capital Efficiency Services • Company Structure • Philosophy/Divisions • Global Footprint/ Capital Sources • Activities Breakdown • Selected Cases • Board of Directors

3. WELCOME TO PALMERSTON EQUITY PARTNERS Palmerston Equity Partners LLC is an international debt and equity restructuring consultancy based in New York City that specializes in Strategic Advisory and Capital Efficiency Services in the areas of Commodity Trading, Project Financing, Corporate Syndication, and Structured Finance. Launched in June 2008, Palmerston is comprised of 5 managing partners and 11 advisory members. Introduction

4. Strategic Advisory Services • Business Strategy • - Strategic Planning • - Corporate Assessment • - Economic Forecasting • - Vertical Integration • - Diversification Strategy • - Value Internalization • Performance Improvement • - Finance Transformation • - Process Re-Engineering • - Change Enablement • - Growth Initiatives • - Productivity Improvement • - Expense Reductions • Valuation • - Financial Reporting • - Restructuring Analysis • - Capital Budgeting • - Asset Pricing • - Appraisal Structuring • - Pre-IPO Studies • Transaction Advisory • - Due Diligence • - Merger Integration • - Regulatory Compliance • - Concession Negotiating • - Bidding Processing • - Closing Documentation

5. Capital Efficiency Services • Project Finance • - Renewable Energy • - Extractive Mining • - Transport Infrastructure • - Telecommunication Networks • - Modular Construction • - Defense Contracting • Structured Finance • - (SPV’s) • - (SPAC’s) • - Credit Enhancement • - Risk Transferring • - Securitization Structuring • - Pooled Investing • Trade Finance • - Documentary Collection • - Trade Credit Insurance • - Letter of Credit underwriting • - Export Factoring • - Forfaiting Structuring • - Transactional Equity • Corporate Finance • - Syndication • - Private Placement • - Mezzanine • - Consortium • - Privatization • - Flotation

6. Company Structure

7. Philosophy

8. Divisions

9. Global Footprint Primary Capital Sources Project Locations

10. Capital Sources Access to Funding Sources Allocation by Service Type

11. Activities Breakdown Valuation/advisory assignments

12. Selected Cases

13. Board of Directors Keren Binyaminov | Chairman of the Board Mr. Binyaminov’s experience encompasses designing, implementing, reorganizing and managing operations, engineering, and quality assurance functions for nationally and internationally recognized corporations. He has held senior positions in the Financial and Analytical Departments at Linear Infrastructure Solutions Inc., and Trispecs Inc., specializing in model generation methodologies and technical econometric forecasting, before establishing Palmerston Equity Partners LLC. As Chairman of the Board, Mr. Binyaminov directs the entire spectrum of the firm’s operations: constructing models of optimization, devising structured and unstructured feasibility studies, evaluating cost assessment packages, generating time-sensitive probabilistic supply and demand simulations, evaluating statistical market studies, and managing the overall exposure to risk. Since the firm’s founding he has been the driving force of executing $4.12BB in Strategic Advisory & Capital Efficiency assignments. He holds a B.A in Economics and a B.S in Mathematics from Adelphi University (Honors College Program), graduating near the top of his class, Magna Cum Laude. He was awarded the esteemed James H. Post Prize for the Best Work in Social Sciences. Among his scholarships are the prestigious New York Times College Scholarship, New York Academy of Science (Research Training Program) and Adelphi University’s Presidential Merit Scholarship. He is a member of several National Honor Societies, including Delta Mu Delta, and currently resides in New York City.

14. Dogan Simal Ozcelik | Investment Committee Chairman Mr. Ozcelik, in his capacity as Investment Committee Chairman, is our firm's valued senior executive working directly with our chairman assisting him with all final decisions. With his economics background, he anticipates emerging trends, analyses the conduct of policies that have acquired their own thrust, and hunts down the reasons that makes cooperation possible. He oversees the firm's two guarded internal investment divisions: global strategic investments and global tactical investments through his diverse array of worldwide contacts with foreign ministerial personnel, private banking executives, hedge funds' directors, and high net worth investors. Over the years, he has diversified his private and corporate investments into several industries ranging from technology, transportation, security measures, commodity trading, real estate, and tourism. He is our conduit to innovative ideas and international opportunities making the strategic suggestions and providing economic and diplomatic measures which define the character of our firm.

15. David Machlis, Ph.D. | Research Committee Chairman Dr. David Machlis is a highly acclaimed professor of economics at Adelphi University’s School of Business. He was nominated many times for Professor of the Year at that same institution since his affiliation in 1967. During his tenure, he has also served as Chairman of the Economics Department as well as the Associate Dean of Academic Affairs. His main academic interests are in monetary policy and business cycles; and particularly as they apply to project development and business decision-making. In his capacity as Research Committee Chairman at Palmerston Equity Partners LLC, he brings forth an informed background in financial and industrial economics techniques to evaluate the ever evolving global financial markets in both the macro-economic and micro-economic spheres. During his professional career, he has been a trusted friend and advisor to Finance Ministers of two countries and has created valuable international contacts in the banking and finance arena. He was responsible for bringing one of the world’s largest diamond manufacturers to South Africa to establish a production plant in that resource-rich country, which, until that time, was primarily involved in exporting the rough product. His honors include an appointment by the Secretary of Education of the U.S. to the President's Advisory council on Bi-Lingual Education and he was also the recipient of a three-year National Defense Education Act Fellowship. He is responsible for creating a program called March of Remembrance and Hope which has brought over 20,000 people from diverse communities to an educational mission to the death camps in Poland. Dr. Machlis earned his B.B.A. Degree at the Baruch College of Business of the City University of New York and his Ph.D. in Economics from Rutgers University, the State University of New Jersey.

16. Aaron Aaronson, Ph.D. | Risk Committee Chairman Mr. Aaronson is the force that has the most influence on the technology and financial infrastructure of Palmerston Equity Partners LLC. He is a highly skilled financial specialist with over a decade of experience in maintaining financial systems integrity and assuring calibrated exposure to risk. As Risk Committee Chairman, Mr. Aaronson oversees financial control, planning and analysis, investor relations, tax, and treasury on a global basis. He is responsible for global oversight of corporate services; corporate communications, marketing and brand management; legal, compliance and audit; corporate security; corporate strategy; diversity; human resources; recruiting; and talent management. He holds a B.A in Business Administration from Queens College and a Ph.D. in Clinical and Pharmaceutical Administration from St. John’s University.

17. Burhan Cakmak | Finance Committee Chairman Mr. Cakmak in his capacity as Finance Committee Chairman at Palmerston Equity Partners LLC oversees the firm’s project related screening and evaluation methodologies. He oversees our firm’s financial operations in Turkey and neighboring countries, by providing executive and sensitive information gathering and strategic business due diligence. With over 40 years of experience in different phases of international business: ranging from international banking and finance, corporate real estate, and commodity trading; Mr. Cakmak has become a well-respected and recognized business figure. He articulates our firm’s economic measures and alternatives to improve our firm's strategic position in that region. Mr. Cakmak is the president of his own company 3 Boyut, which develops and markets 3D technology to Turkey and 29 other countries. We are fortunate to have him as our firm’s Finance Committee Chairman and representative in Turkey.

18. Thank You !