From: ROMERAL Stella To: "jeevacationgginail.com" [email protected]> CC: PASQUIER Fanny , Subject: Gruppo api's development plans Date: Wed, 22 Apr 2015 10:01:06 +0000 Importance: high Dear Sir, As per Mrs. de Rothschild request, please find hereunder one message concerning API's Group. Best regards, Stella STELLA ROMERAL PA to the Baroness Ariane de Rothschild Fax EDMOND DE ROTHSCHILD HOLDING Rue de Hesse, 18 1204 Geneve Suisse www.edmond-de-rothschild.ch From: DUSCH Jean-Francis Sent: 31 March 2015 15:02 To: Todeschini, Fabio' Subject: Edmond de Rothschild Gruppo api's development plans Importance: High Dear Fabio, As discussed earlier this month, please see enclosed a discussion paper including some slides outlining some initial considerations about the energy sectors linked to your downstream and well-established operations as well as some initial ideas in relation to potential plans to: a) Diversify Gruppo api's energy business via a potential partnership (including and not limited to LNG/natural gas and/or power generation and/or petro-chemicals) and ways to expand Api's geographic presence domestically and internationally (included but not limited to Africa and Latin America); and b) Finance renewable projects as another pillar of Gruppo api's long term growth strategy. We hope this demonstrates that EDR's Infrastructure, Energy & Structured Finance Department understands the underlying and core business of Gruppo api and, further to more detailed discussions with you and your colleagues, you may consider EDR to act as a your financial advisor of choice to assist you in implementing such expansion strategy. We are very well connected with the leading industrial and financial players in the market, which could prove instrumental in supporting your development plans. Our structuring skills can also be an asset to implement the required capital to fund such expansion/ specific assets. EFTA00642795