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ANNUAL REPORT 2015

MANAGEMENT DISCUSSION & ANALYSIS

8.0. INVESTOR RELATIONS

8.1. INVESTOR RELATIONS ACTIVITY IN 2015

Bank Audi endeavours to provide institutional and individual investors, rating agencies, analysts, media and financial markets authorities with systematic and symmetric information on timely and regular basis, in accordance with best market practices. The Investor Relations function aims to develop and sustain the Bank’s relationship with all stakeholders and investment community through bilateral communication and sharing the Group’s strategy, operating environment, major events and financial r esults, as well as any data deemed necessary to deliver complete information in an efficient and effective manner that will address their concerns.

The ongoing political turmoil within the Middle East and North Africa region, coupled with the emerging market sell-off by investors, have reduced the investor relations activity in 2015 where it weighed down the number of equity conferences hosted within the region.

During 2015, Bank Audi participated in 5 equity conferences, fulfilling 71 meetings with 56 institutional investment companies represented by 75 fund managers based principally in the United States, the United Kingdom, the MENA region and Turkey. Many of these investor relations meetings involved members of the Group Executive Committee and Senior Executives from key subsidiaries, providing the audience with transparent and prompt information relevant to the Bank’s activities. In addition, many of the sell-side and buy side communities were constantly updated through mass mails dispatched on regular basis, with the Bank’s quarterly earnings releases and related corporate actions, as well as through constant updates of the Investor Relation webpage (including the Investor Relation presentation).

In the first quarter of 2016, the Bank launched the Investor Relations application that will allow the investment community to stay informed on the latest information relative to the Bank, its shares, key milestones and events through their smart phones and tablets. Furthermore, Bank Audi’s IR application provides users with important information, such as daily share prices and calculator, annual reports, key figures and ratios, press releases, IR presentations and an IR calendar. The application is available on Apple Store and Google Play. Within that scope, Management remains committed to investing in new strategic initiatives and implementing best practices that will support the investment community in understanding the Bank’s activities and assessing it.

While somehow underscoring the limited equity institutional investors’ appetite prevailing in 2015 as a result of global and regional woes, Bank Audi’s investor relations activity in 2015 only reflects an extension of the Bank’s long standing track record since 1995. The table below illustrates Bank Audi’s participation, since 2005, in equity conferences, highlighting Management’s commitment to Investor Relations:

PARTICIPATION IN EQUITY CONFERENCES/NON-DEAL ROADSHOWS

SHAREHOLDING STRUCTURE

Several site visits were also scheduled for institutional investors who were not able to secure meetings during the equity conferences and for those investors interested in visiting the corporate head offices to complement their knowledge on Bank Audi.

8.2. BANK AUDI’S STOCK RESEARCH COVERAGE

Since 2010, several London-based banks and regional financial institutions initiated coverage of Bank Audi’s stock. The table below lists institutions that cover the Bank’s stock till December 2015:

BANK AUDI'S STOCK COVERAGE

SHAREHOLDING STRUCTURE

Management was always keen on providing all necessary resources for in-house meetings or conference calls with the sell-side community, and on answering all information requests in a transparent, effective and timely manner, in full compliance with the Bank’s disclosure policy.