fep lat am-intro-v3.1-15102015

CONFIDENTIAL NOT FOR PUBLIC DISTRIBTUION

Investing across LatAm Energy & Infrastructure Sectors 2015-16

August 18th 2015

Argentina Barbados Canada Colombia Mexico

Legal Disclaimer

This presentation is confidential and may not be distributed, transmitted or otherwise communicated to others, in whole or in part, without the express consent of FlatStone Energy Partners, Ltd. or any of its affiliates (“FlatStone”). Recipients of this presentation (and their representatives) maydisclose to any and all persons, without limitation of any kind, (i) the tax treatment and tax structure of the private investment funds discussed herein (the “Funds”) and (ii) any of their transactions, and all materials of any kind (including opinions and other tax analyses) relating to such taxtreatment and tax

structure. This presentation does not constitute an offer to sell, or the solicitation of an offer to buy, any security, product or service, including interests in the Funds. Offers for interests in the Funds can be made only by each Fund’s Confidential Private Placement Memorandum (the “PPM”),which will contain additional information about the applicable Fund, and in compliance with applicable

law. Accordingly, the terms and provisions with respect to the Funds in their final form may differ materially from the information set forth herein. Prospective investors must read the applicable final PPM which will contain additional information about an investment in the relevant Fund.Distribution may be restricted in certain jurisdictions.

Unless otherwise noted, information included herein is presented as of the dates indicated and may differ from the terms and provisions respecting an investment in the Funds which will be more fully set forth in the PPM and the applicable corresponding limited partnership agreements or suchother applicable constituent governing documentation of the Funds. This presentation is not complete and the information contained herein may change at any time without notice. FlatStone does not have any responsibility to update the presentation to account for such changes.

FlatStone makes no representation or warranty, expressed or implied, with respect to the accuracy, reasonableness, or completeness of any of the information contained herein, including, but not limited to, information obtained from third parties.

The information contained herein is not intended to provide, and should not be relied upon for, accounting, legal or tax advice or investment recommendations. Investors should make an independent investigation of the investment described herein, including consulting their tax, legal,accounting or other advisors, about the matters discussed herein.

Information contained herein may include information respecting prior investment performance of one or more Funds or investments including gross and/or net internal rates of return (“IRRs”). Information respecting prior performance, while a useful tool in evaluating each Fund’s investmentactivities, is not necessarily indicative of actual results that may be achieved for unrealized investments. The realization of such performance is dependent upon many factors, many of which are beyond the control of FlatStone. Further, there can be no assurance that the indicated valuations forunrealized investments accurately reflect the amounts for which the subject investments could be sold. Unless otherwise noted, all IRR amounts described herein are calculated as of the dates indicated. “Gross IRR” of each Fund represents the cumulative investment-related cash flows for all ofthe investors in the applicable Fund on the basis of the actual timing of investment inflows and outflows (for unrealized investment assuming disposition of the respective “as of” dates referenced) aggregated on a gross basis quarterly, and the return is annualized and compounded beforemanagement fees, carried interest and certain other Fund expenses (including interest incurred by the Fund itself) and measures the returns on each fund’s investments as a whole without regard to whether all of the returns would, if distributed, be payable to each Fund’s investors. “Net IRR”of a Fund means the Gross IRR applicable to all investors, including related parties which may not pay fees, net of management fees, organizational expenses, transaction costs, and certain other Fund expenses (including interest incurred by the Fund itself) and realized carried interest all offsetto the extent of interest income, and measures returns based on amounts that, if distributed, would be paid to investors of the Fund.

Investing in a Fund is speculative and involves a substantial degree of risk. Risks include, but are not limited to, the fact that each of the Funds has or may have: a limited or no operating history; volatile performance; leverage use; limited liquidity with no secondary market expected andrestrictions on transferring interests; high fees and expenses; and a dependence on FlatStone, which will have exclusive authority to select and manage a Fund’s investments. Prospective investors should carefully consider all risks described in the applicable PPM in determining whether aninvestment in a Fund is suitable. There can be no assurance that the investment objectives described herein will be achieved. Nothing herein is intended to imply that a Fund’s investment methodology may be considered “conservative,” “safe,” “risk free,” or “risk averse.” Economic, market andother conditions could also cause a Fund to alter its investment objectives, guidelines and restrictions. Investment losses may occur.”

Past performance is not indicative nor a guarantee of future returns.

Certain information contained herein may be “forward-looking” in nature. Due to various risks and uncertainties, actual events or results or the actual performance of a Fund may differ materially from those reflected or contemplated in such forward-looking information. As such, unduereliance should not be placed on such information. Forward-looking statements may be identified by the use of terminology including, but not limited to, “may,” “will,” “should,” “expect,” “anticipate,” “target,” “project,” “estimate,” “intend,” “continue” or “believe” or the negatives thereof orother variations thereon or comparable terminology.

Index performance and yield data are shown for illustrative purposes only and have limitations when used for comparison or for other purposes due to, among other matters, volatility, credit or other factors (such as number and types of securities). It may not be possible to directly invest in oneor more of these indices and the holdings of any fund managed by FlatStone may differ markedly from the holdings of any such index in terms of levels of diversification, types of securities or assets represented and other significant factors. Indices are unmanaged, do not charge any fees orexpenses, assume reinvestment of income and do not employ special investment techniques such as leveraging or short selling. No such index is indicative of the future results of any fund managed by FlatStone.

Additional information may be available upon request.

Agenda

• FlatStone Energy Partners Introduction• FEP Business Plan & Corporate Strategy• Methodology Selection process• Global Energy Sector Outlook• Macroeconomic Outlook 2016-18• Fundamentals of LatAm focus• Oil & Gas Framework• Infrastructure Framework• Renewables Framework• Management & Directors• Next Steps

FlatStone Energy Partners

• Founded in 2015 as a contrarian specialist operating fund advisor for Latin American Energy & Infrastructure sectors.

• Senior management brings over 120 yrs. of full cycle E&P expertise, from due diligence to successful production LatAm projects valued in excess of USD$5B.

• Offering exclusive access to a pipeline of low-risk in exploration and production assets in Argentina, Colombia, Cuba, Guatemala, Ecuador and Peru valued in excess of USD$20B.

• Proven track record of deliveries across the world, converting exploration assets successfully into production companies.

• Access to first level government officials, regulators, and other key decision makers in the most prolific Basins across LatAm

• Established network of relationships with global financial institutions, facilitating Co-investment and access to capital to finance deal flow of different sizes

FEP Corporate Strategy

FEP business plan focuses on the acquisition and development of Energy Assets either: Oil and Gas(“O&G”), Infrastructure (“IFA”) and/or Renewable (“RE”) across Latin America (“LatAm”).

FEP primary objective is to fund the acquisition of low risk underdeveloped producing assets inLatAm through participation interest and finance expansion aiming at increasing Cash-flows within 36months timeline.

FEP secondary objective is to secure a Mexican partner NOC/MSC to JV on energy opportunitieswith local key partners and provide access to capital, top specialist professionals and state of the arttechnologies to unlock unique projects.

FEP plans to launch three funds between Q3 2015 and Q2 2016.

I. LatAm Oil & Gas Fund 1II. Mexico Infrastructure Fund 1III. LatAm Renewable Fund 1

• A strategic vision, innovative growth-oriented energy and infrastructure Latin American private equity operating fund.

• Opportunities across 5 complementary operating units– Exploration & Production (E&P)– Infrastructure projects (IFA)– Engineering Services (EPC) – Oil field services (OFS)– Pipeline & Utilities (MID)

• Created from the Top-Down– Partners’ committee decision process– Management-operators significantly invested– Strategic focus on sub-sector opportunity areas

FEP Corporate Strategy

Fund UniverseLatAm O&G

LatAm Future

Basin• Argentina• Brazil• Colombia• Ecuador• Peru

FEP selects from portfolio of opportunities valued USD$20 B in Oil & Gas across most prolific, economic and strategically located basins:

Fund Strategies

• Cuba• Guatemala• Guyana• Mexico

LatAm Prolific

Basin

Buy Out

Growth Capital

Special situation

Venture Capital

Fund ProjectSelection Criteria

Quantitative Factors• Probability of success (LE)• Proven reserves in ground• Probable proven upside• Cost of production• Operating cost • Future value of CF (NPV)• Capital expenditure• Netbacks

Qualitative factors• Country risk • Resource laws• Royalty regime• Logistics & Infrastructure• Organizational alignment• Complementary skillset• Access to human capital• Track record of success

Global Energy Sector Outlook & Strategy

• Global Energy Sector is highly correlated with commodity prices • Consensus increased pricing for commodity $65-90 BOE Q2/16

– Speeding economic growth, North America, Core Europe and LatAm– Current pricing does not support CAPEX required to sustain supply– Marginal demand increase Emerging Markets (India, LatAm, ASEAN)– Consumers adoption of new technologies (Tesla) 5-10yrs. – Increased complexity and volatility for commodity markets.

• Strategy, to selectively allocate assets in the least correlated industries to the underlying commodity oil, and across regional market with highest margins at current level (LatAm)

– FEP provides turn-key solution for Mexican groups seeking to enter the sector– LatAm/Mexico E&P offer the lowest OPEX/CAPEX highest netbacks– LatAm renewables adoption provides opportunity to grow footprints

– LatAm benefits from increasing energy sector CAPEX

Global Energy SectorOutlook

The curve, terms structure and volatility of Brent futures indicate that we are at or near the bottom of the commodity cycle -Full cycle cost, combined with the logistics have priced out most OPEC oil from the main consumer market in the US.

The Iranian crude will increase OPEC output until Q2 perhaps Q3 2016. Geopolitical tensions across MENA and social unrest in Algeria, Iraq, Libya, Nigeria and Venezuela will result in supply balancing out.

Future Curve

Volatility Term Structure

Source: Reuters Eikon, FlatStone Energy Inc.

Market IndicatorsNext Business Cycle

Market trends indicate risk-on and inflow of funds into commodities asset-swap to happen within the next 36 months. (next business cycle)

The chart on the right shows the inverse correlation and trade between the BRENT crude and the USD Dollar.->

Economic expansion is evident from the strength the World MSCI Index and the inverse correlation to the VIX.

European and Asian QE programs will continue to fuel moderate Volatility in the markets. ->


Macroeconomic Global Outlook

• Developed economies accelerating economic growth, emerging markets turning the corner during the eventual recovery and commodity super-cycle

• Financial sector deleveraging with continuous recycling of monetary stimulus across Asia, Europe and LatAm

• Economic rotation from developed to emerging markets, increasing internal consumption of goods and services requiring energy inputs.

• Market defense strategies at OPEC are unsustainable Saudi announced USD$40 B deficit forced to cut CAPEX USD $100B, UAE cut gas subsidy and Ecuador selling crude 25% below cost

• Increased Geopolitical tensions across MENA due to high unemployment and budget cuts to fund social programs across OPEC economies;

• Political dysfunction in Washington leads to shift in power towards a Republican led government potential for tariffs and protectionist measures from OPEC strategies

• Fed announced rate increases ripple effect across the assets classes including commodities. Asset swap USD for crude and other commodities is near.

ActualNig

eria

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ait

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ar

UAE

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LatAm

Source: Deutsche Bank, FlatStone Energy Inc. Haver Analytics. RBC GAM

60

70

80

90

100

110120

130

140

150

160

50

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il Br

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Opec Price to BalanceNational Budgets

European Recovery

The core European nations have begun a steady economic recovery. Expect the periphery Eastern Europe to benefit from demand from core for durable goods such as vehicles and commodities Oil & Gas from Russia within the next 36 months.

Decreasing European Sovereign Risk ->

Italian & Spanish 10yr Bond Yields


The combination of underinvestment in the energy and infrastructure sectors across the LatAm region and the projected demand growth driven by demographics, presents an historical opportunity for sophisticated investors seeking predictable income and capital appreciation.

LatAm energy and infrastructure holds the greatest potential for development during the consolidation and expansion phases of the next business cycle, because:

• low cost prolific basins, • geopolitical stability. • access to human capital

LatAm Oil & GasInfrastructure


20

$5

15

10

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$8 $10 $13 $14 $13

$23 $23

$31

$39

Source: IMF, Rystad Energy, Haver Analytics,, RBC GAM FlatStone Energy Inc.

Oil

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ing

cost

(US$

/bb

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30

35

40

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OPEC Independent

Production CostCountry

LatAm Average

Why LatAm

FEP investment thesis is that Latin America represents an attractive investment opportunity primarily due to the following facts:

• The growing number of estate owned oil and utility companies divesting assets to focus on their core operations providing an excellent pool of available opportunities;

• The opportunity to partner with local oil field service and engineering construction companies, that have inherited formerly state owned assets,

• The availability of underdeveloped and underexploited small to medium sized fields, which have been divested by large oil and gas companies due to asset rationalization and industry consolidation;

• The existence of significant numbers of underdeveloped and underexploited fields as a result of decades of mismanagement by the National Oil Companies (“NOC’s”);

• The favorable trends across the regional economic fundamentals such as growth of middle class resulting on increased demand for energy from demographic expansion and industry;

• The lowest cost in the Global Energy Sector over project lifecycle: Finding, development and acquisition (“FD&A”), general administration (“G&A”) capital expenditure (“CAPEX”) and operation (“OPEX”);

• The lowest cost of transportation and access to the main consumer market of energy in the world the North American Free Trade Area (“NAFTA”)

TodayActual

LatAm

Source: TD Securities, Bloomberg, RBC GAM FlatStone Energy Inc.

20

40

60

80

100

120

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Production CostRegion & Type

Oil & Gas Framework

• Focus on low risk exploration: underexploited proven reserves across prolific basins

• Geographical focus: economies of scale, lowers cost and synergies from regional footprint

• Cost control and discipline to complete the business cycle creating value at each stage

• Prioritize the use of lift-for-purpose technology to improve efficiency and create value

• Partner with top local teams of professionals preferably operating the assets, capable of getting things done in time, utilizing modern methodologies and technology, seeking efficiencies on conventional oil

• Align management and investor interest through ownership structure and performance based compensation

• Build a lean organization with emphasis on managing the operations and expanding regional footprint

• Develop key relationships with local communities, government agencies to become the “partner of choice”

• Target selectively low-risk exploration opportunities and partner with their management

• Identify local opportunities to generate revenues locally from Natural Gas production (Colombia, Mexico)

LatAm O&G Fund1Opportunities Pool

Production Low Risk Exploration P+50 Exploration & Production Other

• Cuba• Peru

Fund Facts $100mm

Deal number: 2 to 4Ticket size.: $30mm to 50mmTarget: Brownfield E&PEquity: 10 to 60%Role: Operator / Fund MngrInvestment term: 3 to 7 yrs.Target rate: +25% IRRPreferred rate: 8%Strategy:Buyout/Growth CapInvestment min: USD$ 1mm

Guatemala

• Colombia• Ecuador• Peru

Upstream Value Cycle

Source: E&Y Portfolio Management in O&G, FlatStone Energy Inc.

OPEC market defense strategy provides a zerorisk on commodity floor shifting X upward on assets non-correlated to the O&G

E&P risk on pureGreenfield ± 75% ±400 %

FEP

E&PB.Field± 25%

ROCE ∆ value

± 400%

Fund Structure

Fund Risk

• Exploration & Production Medium• Oil Field Services Low • Infrastructure Low• Other Low

FEP fund asset allocation is designed to provide predictable cash-flows, low volatility and capital growth over the time.

Fund Allocation

Oil Field Services

Infrastructure

Upstream

Other

Infrastructure Framework

• Related energy infrastructure investments to create value added and generate predictable cash-flows

• Drives value creation through distinctive sourcing, deep operational engagement, and active stakeholder management.

• Invests in core infrastructure projects with strong market positions, high barriers to entry, limited supply elasticity and medium to long cash-flows

• Generate inflation protected income streams linked to CPI index and offering economic growth potential.

• Make strategic investments in energy related logistics and infrastructure to support low risk and steady growth

• Identify and develop key midstream and/or downstream assets which allows FEP to :

Remove bottlenecks in the life-cycle process related to logistics and market access

Become an integrated key player in the whole value chain

Achieve a higher netback for our own production

Mexico Infrastructure Fund Opportunities Pool

Cogeneration CFE Midstream PEMEX Transmission CFE Other

• Pipelines• Storage

• Cogeneration• HVPL

Fund Facts $100mm

Deal number: 4 to 8Ticket size.: $30mm to 50mmTarget: Greenfield/BrownfieldEquity: 10 to 30%Role: Operator / Fund MngrInvestment term: 5 to 10 yrs.Target rate: +15% IRRPreferred rate: 8%Strategy: Buy Out/ Growth CInvestment min: USD$ 1mm

Renewables Framework

• Offsets carbon footprints for energy infrastructure investments to create sustainable long term value through carbon tax credits required under new environmental regimes

• Drives organization forward through implementation of new and proven technologies, fostering positive community value, engagement, and pro-active stakeholder management.

• Invests in projects with longer cash-flow potential and solidifies market positions, raising competitors barriers to entry, limited supply elasticity and increasing margins from higher cost to consumer market

• Generates protected income streams through government guarantees and incentives offering lower capital cost.

• Make strategic investments in low impact energy trends mitigating risk to the infrastructure investment units.

• Identify and develop key midstream and/or downstream assets which allows FEP to :

Mitigate downside risk for life-cycle process related to market demand and trends

Become an integrated key player in the energy value chain

LatAm Renewables Fund Opportunities Pool

40%

30%

20%

10%

Solar Wind Geothermal Biomass

Fund Facts $100mm

Deal number: 3 to 4Ticket size.: $30 mm to 50mmTarget: Greenfield/BrownfieldEquity: 10 to 40%Role: Sponsor/Fund MngrInvestment term: 4 to 10 yrs.Target rate: +12% IRRPreferred rate: 8%Strategy: Buy-out/Growth CInvestment min: USD$ 1mm

Leandro Carbone, Partner & CEO FlatStone E+P Management Ltd.Mr. Carbone was formerly the CEO for Andes Energia plc. (LON:AEN) bringing over 20 years of experience inleading Oil & Gas projects. As a founding partner of FlatStone Energy Partners Ltd. and CEO of FlatStone E+PManagement, Leandro is responsible for overall upstream strategy and operational planning for projects across theLatAm at FEP.

Mr. Carbone successful career in Oil & Gas started at TOTAL (NYSE:TOT) where he led the BusinessDevelopment efforts for the French E&P across the LatAm, his team regional discoveries propelled the companyfrom a major into a super-major. Leandro extensive career in the upstream and midstream includes seniormanagement roles at private and public companies among them; Petrolifera Petroleum (Gran Tierra), Antrim(TSX:AEN), Crown Point (TSX-V:CWV) and President Petroleum.

Mr. Carbone brings a solid track record of leading significant discoveries across the LatAm most prolific Basinsincluding Argentina, Colombia, Ecuador and Peru. Leandro has also played instrumental roles in facilitatingtransactions for acquisition and divestiture strategies implemented by major public companies around the worldincluding Gran Tierra (NYSE:GTE).

Mr. Carbone is an executive member of the Investment Selection Committee at FEP. Leandro is a citizen ofArgentina and Italy and lives with his wife and family in Buenos Aires. Leandro holds a Petroleum EngineeringDegree from Instituto Tecnologico de Buenos Aires.

Management & Directors

Edgar Bueno, Partner & President FlatStone E+P Management Ltd.Mr. Edgar Bueno was formerly the E&P Director for Grand Vision Energy and brings almost 20 years in theExploration & Production. As a founding partner of FlatStone Energy Partners Ltd. and President ofFlatStone E+P Management, Edgar is responsible for developing the regional development strategy andmapping the local exploration opportunities across the LatAm for FEP.Mr. Bueno successful career in the upstream and midstream includes management roles at the ColombianEnvironmental Protection Ministry, National Hydrocarbon Agency (ANH) and the National Oil Company(Ecopetrol) providing insider perspective on the regulatory environment for private investors.Mr. Bueno has an extensive track record of leading successful exploration and evaluation programs acrossthe LatAm most prolific basing including Colombia, Cuba, Guatemala, Ecuador, Mexico, Paraguay andPeru. Edgar has held senior management roles at several prominent private and public companiesincluding Amerisur Resources Plc (AIM:AMER), Emerald Energy, PetroBras (NYSE:PBR) and SherrittInternational (TSE:S).Mr. Bueno is an executive member of the Investment Selection Committee at FEP. Edgar is a citizen ofColombia and lives with his family in Bogota. Edgar holds a Geologist Degree from the SantanderUniversity in Colombia.


Eduardo Rodriguez Jr, Partner & President, FlatStone Energy Inc. As founder and head of Capital Markets, Eduardo is responsible for the overall corporate, financial and investmentbanking strategy for FEP. Over his 20 year Canadian business career, Eduardo has held a number of managementconsulting and investment banking roles in Canada and LatAm.

Before FEP Eduardo was VP of Global Energy Markets at a boutique investment bank in Canada having workedpreviously for: RBC Dominion Securities (NYSE: RY) and TD Securities “Waterhouse” (NYSE:TD). Mr. Rodriguezis regarded as an expert on the subject of LatAm Investments, contributing regularly to leading publications onMexican Energy Reform.

Eduardo’s energy and resource advisory expertise includes: deal origination, due diligence, acquisition anddivestiture, financing structures, IPO’s, special purpose entities, strategic planning and takeover strategies amongother types of value added solutions to equity and debt financing in the public and private capital markets.

Mr. Rodriguez is an executive member of the Investment Selection Committee at FEP. Eduardo is a dual citizen ofCanada and Mexico living in Vancouver with his wife and family. He holds a Bachelor of Business Administrationfrom Universidad Ibero-Americana in Mexico, City and is a candidate to an MBA from Simon Fraser University.


Norman Mackenzie, Head of Advisory Board FEPMr. Mackenzie was formerly the Chairman of C&C Energy Canada (Now Pacific Rubiales) bringing over 40 yearsof experience in leading Oil & Gas projects around the world. As the Head of the Advisory Board at FlatStoneEnergy Partners Ltd. Norman is responsible for providing strategic overview and guidance to E&P projects acrossthe LatAm for FEP.

Mr. Mackenzie successful career in the upstream includes founding and senior management roles at several E&Pcompanies across the MENA and LatAm regions. Among his successes are Scimitar Hydrocarbons Ltd, hefounded and he served as Chairman from 1990 to 1995 and as a director until the company merged with RallyEnergy Ltd in 2002.

Mr. Mackenzie founded and served as director of C&C Energy Canada Ltd. from its inception in 2005 to the closingof the IPO in 2010 and from the IPO in 2010 to 2012 as director of C&C Energia Ltd. C&C Energy Canada Ltd.acquired by Pacific Rubiales (TSE: PRE) for USD$500 million in 2012.

Mr. Mackenzie is an non-executive member of the Investment Selection Committee at FEP. Norman is a citizen ofCanada and lives with his family in Calgary. Norman holds a B.A. in Economics and Law from The University ofCape Town in South Africa in 1969.


Jonathan Brathwaite, LLB. Director & Legal Counsel FlatStone GroupJonathan is seasoned international tax lawyer specializing cross border tax structures and advisory forinternational businesses, investment funds and private clients he specializes in cross border corporate, trust andcaptive insurance solutions. As well as a deep international tax law understanding Jonathan has managedprofessional teams to deliver complex financing advisory. Jonathan is also Chairman of a working group, rewritingthe Barbados Mutual Fund legislation and contributing to the soon to be introduced Barbados International StockExchange. Jonathan has an his LLB from University of Wolverhampton and an MSc Mathematical Finance fromUniversity of London, Imperial College.

Colin Daniels, BBA, FCA, FCGA. Director & Financial Consultant FlatStone GroupColin has worked in Barbados, Bermuda, Canada and the Cayman Islands. He is a Fellow of the CertifiedGeneral Accountant Association of Canada having gained his designation in 1990. He was elected to fellowship in2004.Previously he was board member of a Qualified Insurance Company (QIC) in Barbados and a Captive InsuranceCompany in the Cayman Islands. Colin chaired both the audit and investment committees of the QIC.Colin was Council member of the Institute of Chartered Accountants of Barbados until May 2013 and chaired thelegislative committee. Colin has served as President of CGA Bermuda, a member of the board of CGA Barbadosand member of the International Forum for CGA Canada.


• Project Acquisition Selection• Focus on sub-sector growth areas E&P/FD&A• Outsourcing opportunities inside the LatAm/Mexico • Complementary services across energy value chain• Turn-key provider of E&P qualification Mexico R1+

• Project Organic growth• $30 million in combined net income across regional operations within 36 mo.• $200 million in new capital expenditure over next 18 months

• LatAm FD&A decreases low OPEX CAPEX = Growth• 75% creates opportunities for reinvestment

• $500+ million in Oil & Gas potential reserves in balance sheet 2016-18• $1B+ in Mexican OFS/EPC contracts targeted for 2016-18

FEP Strategic PlanHighlights

• Leading team of E&P and finance professionals with track record of delivery $5B• Exclusive access to a portfolio of world class LatAm E&P opportunities $20B• Turnkey solutions to challenges of the LatAm energy & infrastructure sectors • Focused LatAm regional strategic operational plan offers:

I. Unlimited operational scalability in Energy & Infrastructure sectorII. Economies of scale and lower general admin cost (G&A)III. Incremental operational cost savings (OPEX) IV. Lower capital expenditure projects (CAPEX)V. Increased operating margins E&P (Netbacks)

• Funds are designed to provide predictable income and capital appreciation.• Lowest cost for project acquisition and development in the Western world.• LatAm highest potential for development during the consolidation and expansion phases

of the next business cycle

Why Investingwith FEP

Next Steps

FEP welcomes your comments and looks forward to scheduling a conference with your team to discuss mandates, sub-advisory and direct participation on these exclusive Oil & Gas

opportunities.

To schedule a conference or request a Confidential Investment Package please contact:

Eduardo Rodriguez Jr.Partner and Head of Capital Markets

M:[email protected]

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