Britam Kenya

The proposed investment consists of an equity investment of up to Kenya Shillings 3,553,375, 000 in newly issued common shares of Britam Holdings Limited (“Britam” or the “Company”) to support the Company (i) develop its local agency network, (ii) strengthen the capital base of its core subsidiaries in Kenya and its recently acquired subsidiaries outside of Kenya to meet new regulatory capital requirements, and (iii) support the integration of a new IT platform. Britam is a leading insurance and financial services group in East Africa with headquarters in Kenya and subsidiaries in Uganda, Tanzania, South Sudan, Rwanda, Mozambique and Malawi. The Company is also the largest shareholder in Housing Finance Group Ltd and one of the largest shareholders of Equity Group Holdings Ltd