Emrc Establishment Agreement

In order to continue to help primary mortgage lenders finance the low-income segment, EMRC signed a new master refinancing agreement with Taamir Mortgage Company on April 24, 2013 for EGP $35 million as part of the National Housing Project portfolio. On 14 April 2013, EMRC signed an agreement with Tamweel Mortgage Finance for a tranche of EGP 2.1 million, including mortgages transferred to low-income citizens. On May 29, 2013, EMRC signed a new Master Refinance Agreement with Sakan Finance Company. Sakan Finance Company joined EMRC in December 2012 as a new shareholder and received an EGP 20 million mortgage refinancing line. The first tranche was granted after the signing of a Master Refinance Agreement in May 2013, more than 16 million EGP. In order to continue to help major mortgage lenders finance low-income citizens, EMRC signed on June 30, 2013, a new master refinancing contract with Misr Bank for EGP 20 million. This is the first refinancing agreement signed, with Misr Bank being one of four agencies mandated to fund the National Housing Program (NHP), which supports low-income citizens. EMRC had also provided the refinancing of this tranche as part of the disposal of the right proceeds; a product specially designed and introduced to facilitate the management of a large number of mortgages with relatively low credit values under NHP. November 2015: Lobna Helal remains President of the EMRC. April 2015: EMRC, in collaboration with mortgage finance companies, participated in the amendment of the Mortgage Financing Act.

April 2013: Emrc Refinancing of EGP 37.1 million in April 2013 as part of low-income mortgage portfolios. EMRC has introduced a new high-end mortgage portfolio refinancing product “Elite” that allows the acceptance of mortgage portfolios with outstanding balances via EGP 2 Mn. in order to meet the rise in unit prices in the real estate market and satisfy the needs of its customers. This product will help expand EMRC`s refinancing opportunities to major mortgage lenders. EMRC is pleased to announce Contact Mortgage Finance as its new shareholder. Contact Mortgage Finance obtained in June 2016 the license to practice mortgage financing. It has an issue capital of EGP50mn. As a shareholder of EMRC, the new lead lender will have access to EMRC`s various products and will be able to benefit from the long-term financing programs it offers. November 2015: new products for the refinancing of administrative and commercial mortgages. May 2013: “Elite”: new product for the refinancing of high-end mortgage portfolios. Ms.

Lobna Helal, Deputy Governor of the Central Bank of Egypt, will continue to chair the EMRC. . . .