Capital & Debt AdvisoryServices, Credentials & Contact

2 | Capital & Debt Advisory

3Ernst & Young Unsere Erfahrung – Ihr Schlüssel zum Erfolg

Just some of the topics we would like to discuss with you

Capitalagenda

Investing Rais

ing

Pre

se

rving Optim

izing

“ No matter whether you are looking to preserve, optimize, raise or invest capital, we will address your challenges and will work with you to make the most of the opportunities available. We call this your “capital agenda,” giving you the benefit of better, wiser and sounder decisions based on tailored concepts.” Britta Becker, Partner | Head of Capital & Debt Advisory

• Simplifying and adjusting the capital structure and balance sheet

• Structuring collateral• Covenant breaches• Collateral pool agreement• Extended repayment period

• Stress tests for all investment projects• Growth financing• Company acquisition• Defining target financial structures

• Introducing systematic capital allocation testing

• Synchronizing loan agreements• Refinancing • Negotiating interest rate spreads• Optimizing ratings

• Identifying additional financing sources and partners

• Using opportunities to refinance liabilities or raise equity

• Using subsidies

Services

• Simplifying and adjusting the capital structure and balance sheet• Structuring collateral• Covenant breaches• Collateral pool agreement• Extended repayment period

• Stress tests for all investment projects• Growth financing• Company acquisition• Defining target financial structures

• Introducing systematic capital allocation testing• Synchronizing loan agreements• Refinancing• Negotiating interest rate spreads• Optimizing ratings

• Identifying additional financing sources and partners• Using opportunities to refinance liabilities or raise equity• Using subsidies

3Capital & Debt Advisory |

Credentials

2011 2013

EY provided advice on funding alternatives for a portfolio of renewable energy power plants

Capital Raise

2012

EY provided comprehensive credit rating advisory

Rating Advice

2012

EY provided sole advice on the restructuring of all debt and equity

Capital Restructuring

2012

EY facilitated and gave preparatory advice for initial credit rating

Rating advice

2012

EY provided sole advice on refinancing of NSE’s bank debt

Refinancing

2010

EY provided advice on early refinancing alternatives of its syndicated loan

Syndicated Loan FacilityPRESERVING

➤Stress/distress – e.g., liquidity issues, and turnaround plans

➤Customer and supplier analysis➤Preserving tax assets/minimizing

costs➤Refinancing or restructuring debt,

equity and other obligations➤Dealing with stakeholder relation-

ships/pressure➤Dispute resolution

➤Acquisitions and alliances➤Planning/structuring transactions

to optimize stakeholder return➤Focused due diligence to mitigate

risk/drive value➤Asset valuations➤➤Cost and tax efficient structures

INVEStING

➤Asset divestment➤Optimizing funding structures➤Fundraising (equity and debt) – IPO

readiness, right issues, PE, private placement and capital markets

➤Infrastructure projects➤Cost and tax efficient structures

RAISING

OPtIMIzING

➤Optimizing asset portfolio➤Delivery of synergies/effective

integration➤Improving working capital and

releasing cash➤Optimizing capital structure➤Optimizing tax and corporate

structure

Services

CAPItAl AGENDA

2011 2010

2011

2010

2011Current

Refinancing Bond Structuring Syndicated loan Facility

Capital RestructuringCorporate Structuring Joint Venture Structuring

Ernst & Young Capital & Debt Advisory Ernst & Young Capital & Debt Advisory

Credentials

Ernst & Young provided strategic advice on refinancing in the credit and capital market

Ernst & Young provided a second opinion on bond structuring alternatives

Ernst & Young provided advice on early refinancing alternatives of its syndicated loan

Ernst & Young advised on the reduction of share capital with subsequent capital increase

Ernst & Young advises on a hold-ing structure considering financing requirements and an optimized balance sheet structure of its subsidiaries

Ernst & Young performed a risk analysis on the designated joint venture partner

EY_Flyer_CapitalAdvisory_en.indd 2 19.10.11 13:07

PRESERVING

➤Stress/distress – e.g., liquidity issues, and turnaround plans

➤Customer and supplier analysis➤Preserving tax assets/minimizing

costs➤Refinancing or restructuring debt,

equity and other obligations➤Dealing with stakeholder relation-

ships/pressure➤Dispute resolution

➤Acquisitions and alliances➤Planning/structuring transactions

to optimize stakeholder return➤Focused due diligence to mitigate

risk/drive value➤Asset valuations➤➤Cost and tax efficient structures

INVEStING

➤Asset divestment➤Optimizing funding structures➤Fundraising (equity and debt) – IPO

readiness, right issues, PE, private placement and capital markets

➤Infrastructure projects➤Cost and tax efficient structures

RAISING

OPtIMIzING

➤Optimizing asset portfolio➤Delivery of synergies/effective

integration➤Improving working capital and

releasing cash➤Optimizing capital structure➤Optimizing tax and corporate

structure

Services

CAPItAl AGENDA

2011 2010

2011

2010

2011Current

Refinancing Bond Structuring Syndicated loan Facility

Capital RestructuringCorporate Structuring Joint Venture Structuring

Ernst & Young Capital & Debt Advisory Ernst & Young Capital & Debt Advisory

Credentials

Ernst & Young provided strategic advice on refinancing in the credit and capital market

Ernst & Young provided a second opinion on bond structuring alternatives

Ernst & Young provided advice on early refinancing alternatives of its syndicated loan

Ernst & Young advised on the reduction of share capital with subsequent capital increase

Ernst & Young advises on a hold-ing structure considering financing requirements and an optimized balance sheet structure of its subsidiaries

Ernst & Young performed a risk analysis on the designated joint venture partner

EY_Flyer_CapitalAdvisory_en.indd 2 19.10.11 13:07

2012

EY advises on a holdingstructure considering financing requirements and an optimized balance sheet structure of its subsidiaries

Corporate Structuring

PRESERVING

➤Stress/distress – e.g., liquidity issues, and turnaround plans

➤Customer and supplier analysis➤Preserving tax assets/minimizing

costs➤Refinancing or restructuring debt,

equity and other obligations➤Dealing with stakeholder relation-

ships/pressure➤Dispute resolution

➤Acquisitions and alliances➤Planning/structuring transactions

to optimize stakeholder return➤Focused due diligence to mitigate

risk/drive value➤Asset valuations➤➤Cost and tax efficient structures

INVEStING

➤Asset divestment➤Optimizing funding structures➤Fundraising (equity and debt) – IPO

readiness, right issues, PE, private placement and capital markets

➤Infrastructure projects➤Cost and tax efficient structures

RAISING

OPtIMIzING

➤Optimizing asset portfolio➤Delivery of synergies/effective

integration➤Improving working capital and

releasing cash➤Optimizing capital structure➤Optimizing tax and corporate

structure

Services

CAPItAl AGENDA

2011 2010

2011

2010

2011Current

Refinancing Bond Structuring Syndicated loan Facility

Capital RestructuringCorporate Structuring Joint Venture Structuring

Ernst & Young Capital & Debt Advisory Ernst & Young Capital & Debt Advisory

Credentials

Ernst & Young provided strategic advice on refinancing in the credit and capital market

Ernst & Young provided a second opinion on bond structuring alternatives

Ernst & Young provided advice on early refinancing alternatives of its syndicated loan

Ernst & Young advised on the reduction of share capital with subsequent capital increase

Ernst & Young advises on a hold-ing structure considering financing requirements and an optimized balance sheet structure of its subsidiaries

Ernst & Young performed a risk analysis on the designated joint venture partner

EY_Flyer_CapitalAdvisory_en.indd 2 19.10.11 13:07

2011

EY provided strategicadvice on refinancing in the credit and capital market

Refinancing

2010

EY provided a secondopinion on bond structuring alternatives

Bond Structuring

PRESERVING

➤Stress/distress – e.g., liquidity issues, and turnaround plans

➤Customer and supplier analysis➤Preserving tax assets/minimizing

costs➤Refinancing or restructuring debt,

equity and other obligations➤Dealing with stakeholder relation-

ships/pressure➤Dispute resolution

➤Acquisitions and alliances➤Planning/structuring transactions

to optimize stakeholder return➤Focused due diligence to mitigate

risk/drive value➤Asset valuations➤➤Cost and tax efficient structures

INVEStING

➤Asset divestment➤Optimizing funding structures➤Fundraising (equity and debt) – IPO

readiness, right issues, PE, private placement and capital markets

➤Infrastructure projects➤Cost and tax efficient structures

RAISING

OPtIMIzING

➤Optimizing asset portfolio➤Delivery of synergies/effective

integration➤Improving working capital and

releasing cash➤Optimizing capital structure➤Optimizing tax and corporate

structure

Services

CAPItAl AGENDA

2011 2010

2011

2010

2011Current

Refinancing Bond Structuring Syndicated loan Facility

Capital RestructuringCorporate Structuring Joint Venture Structuring

Ernst & Young Capital & Debt Advisory Ernst & Young Capital & Debt Advisory

Credentials

Ernst & Young provided strategic advice on refinancing in the credit and capital market

Ernst & Young provided a second opinion on bond structuring alternatives

Ernst & Young provided advice on early refinancing alternatives of its syndicated loan

Ernst & Young advised on the reduction of share capital with subsequent capital increase

Ernst & Young advises on a hold-ing structure considering financing requirements and an optimized balance sheet structure of its subsidiaries

Ernst & Young performed a risk analysis on the designated joint venture partner

EY_Flyer_CapitalAdvisory_en.indd 2 19.10.11 13:07

PRESERVING

➤Stress/distress – e.g., liquidity issues, and turnaround plans

➤Customer and supplier analysis➤Preserving tax assets/minimizing

costs➤Refinancing or restructuring debt,

equity and other obligations➤Dealing with stakeholder relation-

ships/pressure➤Dispute resolution

➤Acquisitions and alliances➤Planning/structuring transactions

to optimize stakeholder return➤Focused due diligence to mitigate

risk/drive value➤Asset valuations➤➤Cost and tax efficient structures

INVEStING

➤Asset divestment➤Optimizing funding structures➤Fundraising (equity and debt) – IPO

readiness, right issues, PE, private placement and capital markets

➤Infrastructure projects➤Cost and tax efficient structures

RAISING

OPtIMIzING

➤Optimizing asset portfolio➤Delivery of synergies/effective

integration➤Improving working capital and

releasing cash➤Optimizing capital structure➤Optimizing tax and corporate

structure

Services

CAPItAl AGENDA

2011 2010

2011

2010

2011Current

Refinancing Bond Structuring Syndicated loan Facility

Capital RestructuringCorporate Structuring Joint Venture Structuring

Ernst & Young Capital & Debt Advisory Ernst & Young Capital & Debt Advisory

Credentials

Ernst & Young provided strategic advice on refinancing in the credit and capital market

Ernst & Young provided a second opinion on bond structuring alternatives

Ernst & Young provided advice on early refinancing alternatives of its syndicated loan

Ernst & Young advised on the reduction of share capital with subsequent capital increase

Ernst & Young advises on a hold-ing structure considering financing requirements and an optimized balance sheet structure of its subsidiaries

Ernst & Young performed a risk analysis on the designated joint venture partner

EY_Flyer_CapitalAdvisory_en.indd 2 19.10.11 13:07

2014

EY provided sole advice on refinancing of Nüssli’s bank debt

Refinancing

2015

EY provided comprehensiveadvice on a co-investor concept for a portfolio of renewable energy power plants

Capital Raise

2015

EY provided sole lead advice on the restructuring of the group’s financial debt

Debt Restructuring

2011 2015

EY provided advice on the pricing for IC loans at-arm’s-length for tax purposes

Transfer Pricing

2015

EY provided sole lead advice on the contingent liability management relating to the ongoing fund program for the shipping sector

Contingency Planning

2015

EY provided sole lead advice on a private equity placement to finance further growth

Capital Raise

2015

EY provided sole lead advice on the bail-out of its Companys AG

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Dr. Michael MärkiHead of Capital and Debt Advisory, SwitzerlandDirect line: +41 58 286 34 23Mobile: +41 58 289 34 23michael.maerki@ch.ey.com

Ernst & Young LtdMaagplatz 1P.O. BoxCH-8010 Zürich