‘VEGA SWISS ASSET MANAGEMENT UK LL? 80 Park Lane B Mayfair, London, WIK 77% Tel + 44 (0) 203 44 028 50 VSAM Fax +44 (0) 203 44 027 01 vw. veam.cosk Qatar Investment Authority 17* March 2013 C/O Mr. Hamed Nagi P.O. Box 23224 Doha Qatar Dear Mr. Nagi, Subject: __An Investment Opportunity Against A Financial Instrument It is with great pleasure that we offer our services at VSAM to a well reputed organization like QIA, some of which are exclusive and have been designed and structured through our team of experts and the founder at our offices in London. We look forward to establish and build a long term relationship as this is our objective with all clients we engage with Further to the late discussion and meeting we had, I would like to confirm that we are willing to facilitate the below procedure if it is of interest to the Authority and obtain a 60% credit line to be paid through promissory notes provided QIA is capable of issuing a Bank Guarantee from one of the top rated banks. ‘As discussed, in order to proceed further we would need the issuing bank of the instrument sending a Swift MT799 to our banking co-ordinates at HSBC to confirm their willingness and readiness to issue a Bank Guarantee in favour of QUA or any other beneficiary such as QUA subsidiaties or SPV's that it owns. Should they eed to discuss the opportunity further, I will be more than happy to fly to Doha and meet with the management. Alternatively, arrangements can be made to meet at our offices in London where the founder Mr Ramon Vega and the team will be available to go through the technicalities of the transaction and go through the other range of products we offer to our clients Many thanks and I look forward to heating from you in the neat future. ee For and on behalf of Vega Swiss Asset Management ‘Vega Swiss Asset Management, London. ‘Vega Swiss Asset Management UK LLP Registered in England No 0C337206 ‘Vega Swiss Asset Management UK LLP is authorised and regulated by the Financial Services Authority (FSA). Registered No.483635,