SUPPORTING LOCAL DEVELOPMENT - SinlocPRIVATE EQUITY FUNDS INTERNATIONAL FINANCIAL INSTITUTIONS MUNICIPALITIES AND LOCAL AUTHORITIES We provide advisory services to a wide range of

SUPPORTING LOCAL DEVELOPMENT

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Energy-efficient street lighting, Savigliano (Piedmont)

Marina, Sulcis (Sardinia)

Anfass (Center for the Disabled), Selargius (Sardinia)

Cruise terminal, Cagliari (Sardinia)

Photovoltaic plant, Agri-foodstuffs Market, Padua

Botanical gardens, Padua

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Sinloc is a consulting and investment companywith operations throughout Italy.

It promotes the development of local publicinfrastructure through its advisory services, feasibilitystudies and direct investments in Public-PrivatePartnerships (concessions, project financing etc.).Sinloc also facilitates the access to EU fundsand their efficient and sustainable use.

Sinloc operates in the following sectors:

We provide tangible solutions to local issues and concerns.

We have a wide and diversified track record of concrete projectsand we always develop an accountable responsibility to bothinvestors and local communities involved.

values that shape our identity and guide our actions.

We focus on economic, financial, social, end environmentalsustainability of the project we undertake..

Professionalism, Proximity, and Passion are the

Energy Efficiency and Renewable EnergyPublic UtilitiesUrban Transformation, Real Estate, and Local DevelopmentHealthcare and WelfareEducation and ResearchLogistics and Public TransportationArt, Culture, and Tourism

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OUR SERVICES

We serve our target markets and sectorsthtough three business lines:

FUND MANAGEMENT

ADVISORY SERVICES

EQUITY INVESTMENTS

URBAN TRANSFORMATION,REAL ESTATE,AND LOCAL DEVELOPMENT

ART,CULTURE,AND TOURISM

HEALTHCAREAND WELFARE

LOGISTICSAND PUBLICTRANSPORTATION

EDUCATIONAND RESEARCH

PUBLIC UTILITIESENERGY EFFICIENCYAND RENEWABLE ENERGY

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TARGET AREAS

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CLIENTS AND PARTNERSFOR ADVISORY SERVICESAND INVESTMENTS

INFRASTRUCTUREAND FACILITY MANAGERS

FOUNDATIONS OTHER NON-PROFIT INSTITUTIONS

INFRASTRUCTURE ANDPRIVATE EQUITY FUNDS

INTERNATIONAL FINANCIALINSTITUTIONS

MUNICIPALITIESAND LOCALAUTHORITIES

We provide advisory services to a wide range of clients,supporting the planning and implementation of theirinfrastructure and local development projects.We co-invest with institutional and industrial partners indeveloping infrastructure projects to meet community needs.

CENTRALGOVERNMENTAUTHORITIES

OTHERPUBLICAGENCIES

MAIN CONTRACTORSAND DEVELOPERS

BANKS

PUB

LIC

ENTI

TIES

NON

-PRO

FIT

INST

ITU

TIO

NS

FIN

ANCI

ALIN

STIT

UTI

ONS

PRIV

ATE

COM

PAN

IES

PUBLICHEALTHAUTHORITIES

UNIVERSITIES

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CORPORATE STRUCTURE

The company’s financial statements are audited.

Our shareholders are ten Italian banking foundations.The ongoing collaboration with our shareholder allows us to focus objectives andresources to implement initiatives designed to enhance the competitivenessof target communities.

The company’s equity holding exceeds 43 million euros, mostly invested ininfracstructure and local development initiatives.

EQUITY

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ADVISORYSERVICES

FEASIBILITY STUDY IMPLEMENTATIONAND FINANCING SUPPORT

MONITORING

Evaluate project feasibility,highlighting the strengths,weaknesses, opportunities,and risks

Determine the optimal projectfinancial strategy and provideimplementation support

Continuous project monitoring,highlighting and identifyingcorrective strategies and actions

Assistanceto identifyand structurethe most viablesolutionsto implementand financeinfrastructureprojects

PHASES PROJECT

Typical consulting services include:

We support public entities, governments, financial institutions,and foundations that seeks the best methods to execute theirinfrastructure and local development projects.

We verify project feasibility, hightlighting the strengths, weaknesses,opportunities and risks, and establishing optimal procedures andexecution strategies. In addition, we continuously monitor the projectin the planning, construction, and management phases, indentifyingany corrective strategies and actions that may be necessary.

Technical assistance in the operational phase

Strategic and business planningAsset valuation and optimisation support

Ex-ante and ex-post assessmentEconomic and financial due diligence

Monitoring and budgeting

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More than 300 feasibility studies and/or supportcontracts for local projects

Support for the start-up of four Regional SocialHousing Funds (target assets under managementex ante of approximately 320 million euros)

© Archimation

Advisory services to seven Italian Regions in activating EU-regulated financial instruments for urban transformation and energy efficiency projects

Support to six Italian Provinces under the Euro-

project pipeline in excess of 210 million euros

Monitoring Agent of the Hydrobond transaction for 12 integrated water system providers with the securitization of minibonds for a total of 227 million euros

pean Local Energy Assistance program (ELENA), originated by the European Investment Bank (EIB), and activation of an energy efficiency

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TENDER EQUITY DEPLOYMENTMONITORING OF THE PROJECT SPV

AND ITS MANAGEMENT

Origination and assistance tobusiness partners in thecompetitive tendering phase,with the investment committmentsubject to an adequaterisk/return profile

Upon tender award, financialstructuring and deploymentof required capital to set upand develop the SPV

Implementation and monitoringof the project, actively supportingits management by identifyingyield enchancing and riskreducing opportunities

EQUITY INVESTMENT

Investmentsaimed atsupportingsustainablelocal initiativesthroughPublic-PrivatePartnerships

INVESTMENT PHASES

We provide business partners operating in this market with financial resources as well as expertise and skills. We can both invest at an early/greenfield project stage (pre-tender)or at a later stage after the contract has been awarded.Our equity investments are typically structured through SPVs (SpecialPurpose Vehicles) and we often support subsequent co-investments fromlong-term institutional investors throughout the project lifecycle.

We provide the SPV with arrangement services in the financial closing phaseand monitoring services in the construction and management phases.

We provide comprehensive solutions for the investment process:

Economic and financial planningRisk assessment and allocationEquity and shareholder loan solutionsCommercial (EPC, O&M) and financial closingMonitoring and budgetingProgramme managementWay out and exit processes

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Over 400 millions euros invested in local infrastructure projects in the last seven years

Investments in excess of 180 million euros in the energy sector activated throughterritorial holding companies in partnershipwith institutional investors (regionaldevelopment banks, foundations) andindustrial partners

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FINANCIAL INSTRUMENT SET-UP PROJECT SCOUTINGPROJECT CLOSINGAND MONITORING

Identification and structuringof the financial instrument

Origination and preliminaryassessment of eligible projectsgiven the investment policy,objectives, and evaluationcriteria

Support to the fund managerin the valuation, commercialand financial closing processes,and subsequent monitoring

FUND MANAGEMENT

Long-termassistanceto investmentplatforms forproject origination,structuring andmonitoring

INVESTMENT PROCESS PHASES

Our clients are public administrations and financial institutions (regionaldevelopment banks, asset managers, SiCAF, etc.) interested in setting up

and managing financial instruments for investments in regional and/or sector-specifics projects.

We act as techincal advisor and partner of the fund manager in structuringthe financial instrument, originating projects, supporting the valuation andinvestment process, and subsequent monitoring of the project portfolio.

Fund Management services include:

Strategic planning for the set-up of financial instruments and specialisedinstrumentsTechnical assistance for the origination, assessment, and valuation ofproject pipelines in the deployment phaseEconomic and financial due diligence for short-listed projectsMonitoring and budgeting of investments undertaken

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Management of three Development Funds in partnership with Italian banks, within JESSICA (Joint European Support for Sustainable Investment in City Areas) program promoted by the European Investment Bank (EIB), with an endowment in excess of 120 million Euros, through which projects of over 240 million Euros were financed

Management of a Fund created by the Italian Ministry of University, Research and Innovation, with the support of the European Investment Bank, endowed with 62mln/€ to finance research and innovation projects in the regions of Southern Italy, as well as in Sicily and in Sardinia

Technical assistance to three Social Housing Funds in Piedmont, Veneto and central Italy, endowed with over 220 million Euros, which may soon reach about 300 million Euros

Nearly 20 million euros already invested in technical assis-tance to a real estate fund that supports wood-waste biomass cogeneration plants; at the same time, Italian and foreign investment funds have allocated approximately 185 million euros to assess energy efficiency and renewable energy projects for a pipeline of target investments

ADVISORY SERVICES AND FUND MANAGEMENT OUR MAIN CLIENTSACEN - Associazione Costruttori Edili NapoliAcqua & Terme Fiuggi SpAAgricola Biometano SpAAltair Progetti Srl AMAG SpA APCOA PARKING Italia SpAA.R.E.A.N. Agenzia Regionale per l’Energia-Regione AbruzzoArdea Energia SrlAssociazione delle Fondazioni di origine bancaria del PiemonteAssociazione tra Casse e Monti dell’Emilia RomagnaAssolavoro ASUR Azienda Sanitaria Unica Regionale MarcheAutostrada Regionale Cispadana SpA

Banca Europea per gli InvestimentiBanco di Sardegna SpABell Gest SrlBIM Gestione Servizi Pubblici SpABrianza Energia Ambiente Spa

Camera di Commercio di ModenaCamera di Commercio di PadovaCen.Ser. SpA - Rovigo FiereCentro Servizi Anziani di AdriaCervet SrlCIR Food Coperativa Italiana di RistorazioneClara SpACME Consorzio Imprenditori Edili Soc.Coop.CNP SpA Cofel SrlCofim Srl Cogipower SrlComat SpACom.Ex. Energia SrlCompagnia di San PaoloComune di CortinaComune di CuneoComune di FanoComune di FiuggiComune di FornovoComune di LuccaComune di MantovaComune di ModenaComune di PescaraComune di PistoiaComune di PratoComune di RavennaComune di RovigoComune di TarvisioComune di Teramo

Consorzio ZIP Zona Industriale PadovaCooperativa Forlivese di Edificazione

CPL Concordia Soc. Coop

Diocesi di PadovaDiocesi di Terni Narni AmeliaDomus Assistenza DSU ToscanaEdil Veneta SrlEGEA SpAEngie Italia SpAERVET Emilia-Romagna Valorizzazione Economica Territorio SpAEsclamativa SrlEse Nurra SrlEstra SpAE.T.A.V. SrlEuganea Sanità SpAFER - Ferrovia Emilia Romagna SrlFHS Fondazione Housing SocialeFIEE Fondo Italiano per l’Efficienza Energetica SGR SpAFinanziaria Bologna Metropolitana SpAFinanziaria Vittadello Srl Finaosta SpaFinpiemonte Partecipazioni SpAFondazione CariparmaFondazione CariploFondazione Carispezia

Fondazione Cassa dei Risparmi di ForlìFondazione Cassa di Risparmio di FossanoFondazione Cassa di Risparmio di GoriziaFondazione Cassa di Risparmio di LuccaFondazione Cassa di Risparmio di ModenaFondazione Cassa di Risparmio di Padova e RovigoFondazione Cassa di Risparmio di Pistoia e PesciaFondazione Cassa di Risparmio di Reggio Emilia Pietro ManodoriFondazione Cassa di Risparmio in BolognaFondazione Cuoa

Fondazione di VeneziaFondazione Friuli Fondazione IUAV VeneziaFondazione Monte dei Paschi di SienaFondazione Pescarabruzzo Fondazione Santa TeclaFondazione Sviluppo e CrescitaFondazione TercasFondazione VarroneForesight GroupFratelli Tosetto SasGemmo SpAGeneral Energetic SAGheller SrlGradiente SGR SpAGrandi Lavori Fincosit SpAGruppo ICM SpAGulliver Cooperativa Sociale 14

Azienda Sanitaria Locale Taranto

CambiaMo SpaCamera di Commercio di Cagliari

Consorzio Industriale Provincia di SassariConsorzio Nazionale Servizi Soc. Coop. A.R.L.

Coopservice Soc. Coop p. A.

CTM Spa

Fondazione Cassa dei Risparmi di Alessandria

Fondazione di Sardegna

OUR MAIN PARTNERS

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AAU SBi - Aalborg University (DK)ALIMOS - Dimos Alimou – Municipality of Alimos (GR)ARUPASSISTAL - Associazione Nazionale Costruttori di impianti e dei servizi di efficienza energetica ESCo e Facility ManagementBIT Energia SrlCamera di Commercio e dell’Industria dell’Ungheria (HCCI) CMC - Camara Municipal de Coimbra (PT)

Comune di Messina

Cooprogetti Soc. Cop. Denish Building Research Institute-Università di Alborg Distretto di Alimos (GR)

ENEA

Hydrodata SpA

Innova BIC Srl

ISR - Instituto de sistemas e robotica (PT)NCTM Studio Legale

Pool Engineering Srl

SAEET Impianti Srl STEAM

Studio Legale GuiducciTECNALIA - Fundacion Tecnalia Research & Innovation (ES)

Hera Luce SrlIBI Iccrea Banca Impresa SpA Idroemilia SrlIntercantieri Vittadello SpA Interporto Solare SrlInvestiRe SGR SpA - Abitare VenetoInvestiRe SGR SpA - Fondo Abitare Sostenibile PiemonteInvestire SGR SpA - Fondo Housing Sociale Italia CentraleIsland Global Yachting Ltd. L&ScapeLeroy Merlin Italia Srl L’Operosa ScarlMak Costruzioni SrlMarestate Snc

Mercafir SCPAMetal Team Work Srl

MWT SrlNuova Co.ed.mar. SrlParcheggi Italia SpAPark Repubblica SpAPergolesi Sport ssd a.r.l. Piacentini Costruzioni SpAPizzarotti & C. SpAPool Engineering SrlPortocittà SrlProgetto ISOM SpAProgetto PP1 SpAProvincia autonoma di BolzanoProvincia di BellunoProvincia di ChietiProvincia di MilanoProvincia di PadovaProvincia di RomaREAM SGR SpA - Fondo Green Star

Regione AbruzzoRegione Autonoma della Sardegna

Regione Autonoma Friuli Venezia Giulia Regione CampaniaRegione Emilia-RomagnaRegione LazioRegione MarcheRegione SicilianaRegione ToscanaRegione VenetoReti Distribuzione SrlRiesco Srl Salini Impregilo SpASauber SrlSiram SpASmail SpASmart City SpASocietà di Biotecnologie SpASocioculturale Coop.Soc.OnlusSolco Consorzio di Solidarietà e Cooperazione - Società CooperativaStudio di Architettura GallinaStudio Commerciale Associato BoldriniSVIM Sviluppo MarcheSynchron Nuovo San Gerardo SpA Tanaro Power SpATecnalia Research & Innovation FoundationTiemme Costruzioni Edili SpAUIR-Unione Interporti RiunitiUnindustria TrevisoUnione Comuni GarfagnanaUnione dei Comuni della Bassa RomagnaUniversità Ca’ Foscari VeneziaValorizzazioni CulturaliVeneto Sviluppo SpA

Vicenza Futura SpAViveracqua Hydrobond 1 SrlZed Entertainment’s World Srl

Marguerite II SCSp

Municipia Spa

Reekep Spa (già Manutencoop Facility Management Spa)

Veritas Energia Spa

Comune di Lund (SVE)

Comune di Padova

E.ON Energilösningar Aktiebolag (SVE)

Energinvest (BEL)

Goriška Local Energy Agency (SLO)

Holding Energia Risorse Ambiente Spa

PETROL d.d. (SLO)

ETVA VI PE (GR)EUDITI LTD - Energy and Environmental Design (GR)EURAC Research

IRENA - Istrian Regional Energy Agency Ltd (CRO)

Politecnico di Milano

Research Burgenland Ltd. (AUT)

Studio Finocchiaro, Formentin, Saracco e Associati

Union Internationale de la Propriété Immobilière (BEL)Università di Aalborg (DAN)Università degli Studi di PadovaWater utility of Istria (CRO)

Fieldfisher LLPGOP Gianni, Origoni, Grippo, Gruppo Cappelli & Partners

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SOME OF OUR INVESTMENT PROJECTS SINLOC, through Ardea Energia Srl, has set up

Tanaro Power Srl,

for the construction of a hydroelectric plantin Santa Vittoria d’Alba (CN)4,3 MW Power

for a total investment of€ 11,500,000Year of investment: 2015Exit: 2018

SINLOC has set up andco-invested in , a holding company,

Idroemilia Srl

for the design, construction, and management of hydroelectric power plantsin Emilia Romagna5.8 MW Power

for a total investment of € 14,100,000Year of investment: 2015Exit: 2017

SINLOC, through the EnriveSpA holding, has set up

Tuscia Ambiente SpA,

for the construction andmanagement of the FORSU Viterbo electric powerplant


SINLOC has set up andinvested in the SPV,

Euganea Sanità SpA,

for the construction of ahealth care centre serving Este and Monselice

for a total investment of€ 155,000,000Year of investment: 2013Status: in portfolio

SINLOC, through ARDEA

and co-invested in the SPV,Bra Energia SpA,

for the construction andmanagement of a ogeneration plant and district

heating network serving the cityof Bra (CN)35 MW Power

for a total investment of€ 19,000,000Year of investment: 2013

c

SINLOC, through the EnriveSpA, has set up and

co-invested in the SPV,Emme 2 Energy Srl,

for theconstruction of abiomass pover plantin Padua0,6 MW Power



Labo Gest Srl,

for the construction andmanagement of theLaboratorio Unico Metropolitano (Metropolitan Laboratory)and restructuring of the Nuclear Medicine Building ofOspedale Maggiore in Bologna

for a total investment of€ 8,400,000 Year of investment: 2013Status: in portfolio

for the construction andmanagement of a wind farmin the Province of Sassari 9 MW Power


and co-invested in the SPV,

and co-invested in the SPV,Energia Srl, has set up

Exit: 2018

SINLOC, at first through its subsidiary Enrive and then with its own equity, supported

the creation, financing and management of the project companies Ese Nurra Srl,

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Interporto Solare Srl,

for the construction andmanagement of a photovoltaic plant on the roofsof Padua’s Interport12 MW Power



Bell Gest Srl,

for the construction of the methane trigeneration plantat Ospedale Bellaria, Bologna

for a total investment of € 2,700,000Year of investment: 2012Status: in portfolio


Real Estate Property Pratodella Valle Srl,

for the restoration andmanagement licence forthe former Foro Boario of Padua, about 3000 sq.m. and adjacentcar park with about 550 spaces

for a total investment of€ 8,500,000Year of investment: 2009 Exit: 2017

SINLOC has set up andco-invested in , a holding company,Enrive SpA

investing in new companies in the field ofrenewable energy and energyefficiency, particularly inthe Veneto region



PROGETTO ISOM SpA,

for the construction of the trigeneration plant and new system engineering at OspedaleSant'Orsola-Malpighi in Bologna

for a total investment of€ 31,000,000 Year of investment: 2011Status: in portfolio

SINLOC has set up andinvested in the holding

Ardea Energia Srl,

for the design, implementation,and management of energy efficiency initiatives andproduction from reneweableenergy sources in Piedmont

for a total investment of€ 48,100,000Year of investment: 2008

company,


Mercato Solare SpA,

to build a photovoltaic plant located on the roof of the Agri-foodstuffs Market in Padua4,3 MW Power

for a total investment of€ 14,500,000Year of investment: 2010 Status: in portfolio


Com.Ex. Energia Srl,

for the construction of amethane-powered cogenerationplant and district heatingnetwork in TurinThermal power: approx. 13MWt1,2MWe power



Società di Biotecnologie SpA,

for the design, construction,and management of the New School of Biotechnologyat the University of Turin


Exit: 2018

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Equity Investment

CONTENTSDeveloped projects:

Advisory Services Fund Management

Over the past decade we have developed projects throughout Italy, manyof which in collaboration with important national and European partners.

WHERE WE OPERATE

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Hydroelectric Plant, Santa Vittoria Alba (Cuneo)

Energy efficiency Policlinico S. Orsola Malpighi (Bologna)

Este and Monselice Hospital (Padua)

Wind farm, Ese Nurra (Sassari)

School of Biotechnology, Turin

Italian Logistic and International Platform Observatory

Sinloc S.p.A.Via Gozzi 2/G PadovaTel 049 8456911 - Fax 049 8456909

[email protected]: Sinloc - Sistema Iniziative Locali SpATwitter: @Sinloc_spa

Documents

SUPPORTING LOCAL DEVELOPMENT - SinlocPRIVATE EQUITY FUNDS INTERNATIONAL FINANCIAL INSTITUTIONS MUNICIPALITIES AND LOCAL AUTHORITIES We provide advisory services to a wide range of