The following is the Chairman and Group Managing Director’s July 2011 Investor Conference Presentation. This presentation is an abridged version of the actual presentation made during the forum, to safeguard against KenolKobil’scompetitors accessing confidential company information.

Investor Conference Investor Conference Nairobi 27Nairobi 27 thth July 2011July 2011

Brief Company ProfileBrief Company Profile

Structure & Structure & ManagementManagement

Sales VolumesSales Volumes

KK Group FinancialsKK Group Financials

KKenolenol KKobilobil• KenolKobil Limited (formerly Kenya Oil Company Limited,Kenol) was

founded and incorporated as a Private Limited Company in Kenya on May 13th,1959.

• It became a Public Company in September of the same year. • The Company’s shares are quoted on Nairobi Stock Exchange.• The name of the Company changed from Kenya Oil Co Ltd to

KenolKobil Ltd in June 2009

KKobilobil•Kobil Petroleum Limited (Kobil) acquired what were the assets of Mobil Oil in Kenya & Uganda in 1984.•It is a private company registered in the State of Delaware, USA.•Effective January 2008 , it became a 100% subsidiary of Kenol•It will cease operating as a separate legal entity on 1st July 2011.

KenolKobil LtdKenolKobil Ltd• The head offices are at I.C.E.A building, Kenyatta Avenue,

Nairobi, Kenya.• Since 1986 the companies have been jointly managed and

operated. The working arrangements between Kenol and Kobilwere set out in a Joint Management Operating Agreement.

• Both companies market all Petroleum Products, Lubricating oils &Greases, and other related products, in all sectors…Retail, Consumer, Aviation, Marine, Export, LPG and Trading Desk. Both have a Non-Fuels Business line dealing with Company Assets development and management.

• To certain extend, the Co’ is a property development Co’ .• In Dec 2007, Kenol acquired of 100% Shares of Kobil.• Effective 1st Jan 2008, Kobil became a full subsidiary of Kenol. • Effective June 2009, Kenol name changed to KenolKobil Ltd• Auditors are mainly PricewaterhouseCoopers wherever they have

offices. Rwanda – Ernst Young, Ethiopia – Bromhead Associates, Burundi –Deloitte.

Board of Directors• 2 Executive Directors (J I Segman & Pat Lai)• 5 Non-executive Directors

– D. Oyatsi (lawyer)– T. Davidson (Banker,Ex-Citibank Africa)– J .Mathenge (Oil man,Ex Chevron, Africa) – P .Jakobsson (Swedish, Property Dev’)– D.Ndonye (Auditor,Ex–Deloitte&Touche)

• Professional Board with Directors’ vast experience and qualifications

• Board Committees– Audit Committee– Remuneration Committee– Nominations Committee– Investment Committee.(formed in July 2011)

Vision and Mission StatementVision and Mission Statement

VISIONVISION

To be the leading brand in all markets we operate a nd a major player in Africa.

MISSIONMISSION

• To develop, improve and increase quality and total value of our products and services.

• To become a market leader through continuous innovation, customer focus and provide the highest quality products and services.

• To maintain a highly motivated, well trained human resource base

• To deliver highest Shareholders value.

Business Lines• Retail• Reseller• Commercial(consumer segment)• African Trading Desk (Mainly along east cost - Africa )

• Aviation• Exports• LPG(Gas)• F.O ,Bitumen and other specialties.• Lubricants (and other specialties) • Non Fuel- Mainly property Development.

MANAGEMENTMANAGEMENTStrong Management Team, split into following:• Group Management (4)

– Group Regional structures– Group Supply & Trading Optimization– Group Finance– Group Internal Audit

• Group Regional structures (4):– Exports & Regional cluster (Rwanda, Burundi, Uganda, Tanzania)– Mergers + Acquisitions & Regional cluster (Zambia, Ethiopia, Zimbabwe,

Mozambique)– Kenya (includes Aviation)– African Trading desk ( dealing with sales of bulk cargo’s

from AG(mainly) to East Cost Africa )

• Each structure manages it’s own operations, covering Marketing & Business development, Operations, Human resources, IT & Administration, Accounting & Finance

• Group Management team sets all business policies based on Board guidelines.

Subsidiaries & InvestmentsSubsidiaries & Investments• All subsidiaries (including Kobil in Kenya) are 100%

owned by Kenol .• Outside of Kenya, the subsidiaries operate under the

Kobil brand.

• Kobil Uganda• Kobil Tanzania

• Kobil Rwanda• Kobil Zambia

• Kobil Ethiopia• Kobil Burundi.• Kobil Zimbabwe( Trading Desk from Baira).

Corporate Social Responsibility:• KenolKobil Scholarship.• KenolKobil Home for Children.• KenolKobil Tykwondo Children home.• Back to school programs….• Sport events….• Supporting Heath/Security/Safety institutions….• Supporting African music/culture…and more…Special Awards:• 2004-2006- Kenya Revenue Authority 2nd/3d highest

Tax- payer.(…same in Rwanda)..• 2002-2005-Best employer in Uganda…• Environment Award by PIEA..• PIEA business supporter…

And more…

KK Retail NetworkKK Retail Network

Retail Operations Retail Operations The group has 20 Terminals from which it The group has 20 Terminals from which it

supplies Net work of Stations:supplies Net work of Stations:• Kenya: Kobil - 89 stations, Kenol - 67 stations• Kobil Uganda (since 2000) – 64

• Kobil Tanzania (since 2001) – 27 (30end 2012)

• Kobil Zambia (since 2002) – 25 (30 end 2012)

• Kobil Rwanda (since 2003) – 46 • Kobil Ethiopia ( April 2007) - 65 (70,by end 2012)

• Kobil Burundi ( Sep 2010) - 17 • Kobil Zimbabwe - Oil Trading ( for the time being).

• 400 S.Stations (413 by end 2012-organic growth)

Trading ActivitiesTrading Activities

• We are currently trading in All of East, Central and Southern Africa . Countries so far covered are as below ;

• The Co’ has Term Contracts with Up stream Governments/producers in the AG market, lifting Refined and Crudes.

– KENYA(OTS)– MOZAMBIQUE– TANZANIA – SUDAN– ETHIOPIA(EPE Tender)– ZAMBIA– UGANDA– ZIMBABWE– MALAWI– NAMIBIA– BURUNDI– DRC.– others.

K/K Sales VolumesK/K Sales Volumes

MAIN INCOME : ASSETS RENTAL.

Market Share.• KenolKobil Ltd is the biggest Mid & Downstream Oil player in the

Central, Eastern and Southern Africa.

• By Markets( mainly in Retail ):

• Kenya- 25%• Zambia- 11%• Tanzania-11%• Ethiopia- 6%• Uganda – 10%• Rwanda- 32%• Burundi – 15%

M&A OVER THE LAST 10 YEARS

• Uganda- Gulf/Galana.• Zambia- Jovenna• Rwanda- Shell+KLSS+Stippag• Burundi- Total oil Burundi, Sonitra,SICOPP• Ethiopia- Shell (Ex Agip assets).• Kenya- MidOil (Majority and then sold back)

2010 Investments2010 Investments• Further acquisitions supports our growth strategy in Africa, with

expansion stepping stone into Southern region, diversification of risks, expansion into different markets

• Burundi– Acquired going concern from Engen.– Acquired 14 service stations from independents

• Zimbabwe: Joint venture (50:50) with Engen to acquire the whole operations in Zimbabwe from Shell/BP.

• We did not manage to get Gov’ approval ( sighting: “Indigenization Law”… )

• Since then, we have got the license and started to operate a Trading Desk using Oil imported to Baira in Mozambique.