S EC U R ED L EN D I N G

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1 SECURED LENDING

2 About Puma Investments Secured Lending Puma Investments is a member of the Shore Capital group, an independent investment group, listed on AIM and specialising in asset management, principal finance and equity capital market activities. Puma Investments manages vehicles which offer asset-backed, first-charge secured loans to established businesses. We provide flexible and bespoke funding solutions for both property and business finance. 900m m 1-5years ASSETS UNDER MANAGEMENT 29 YEAR HISTORY EMPLOYEES 5 REGIONAL OFFICES DEAL SIZE First charge SECURITY OVER ASSETS TERM Flexible DEAL STRUCTURES

3 Funding Parameters 01 The best of both worlds The benefits of senior finance without the headaches, bureaucracy and aggravation of dealing with a lending bank. The benefits of working with an entrepreneurial and flexible investments team without the concerns of equity dilution and loss of control. Quantum 2m to 10m, larger amounts considered on a case-by-case basis Up to 70% LTC/LTV Management track record Experienced, successful entrepreneurs Substantial commitment of management equity required Term Minimum of 1 year Maximum of 5 years Business plan Clear, robust business plan underpinned by proven management team Sustainable growth trend Security First charge Real estate, receivables, stock, contracted revenue streams all considered Geography Active across the whole of the UK Local market dynamics important Exit Clear visibility of exit required Refinancing risk will be considered on a case-by-case basis

4 02 Target Sectors Real Estate Multiple asset classes including residential development and student accommodation Other operational real estate including industrial and commercial Healthcare Care homes, assisted living, private hospitals Delivery based strategies Selected Foundation Trust activities Hospitality and Leisure Pubs and restaurants Hotels and serviced apartments Other leisure Renewables Biomass, anaerobic digestion, biofuel Waste management, waste processing, energy from waste Wind and solar, if well advanced Retail Clothing, footwear, accessories Department stores and household Food and drink Manufacturing Food and beverage manufacturers Electronic, pharmaceutical and other manufacturers High value manufacturing businesses also considered

5 Types of Lending 03 Puma Investments is able to provide flexible and bespoke packages for small and medium sized businesses and projects. In particular, we have many years of experience providing the following types of asset backed loans: Project Finance and Property Development Financing any new project, including the development of property or plant, requires specialist financial knowledge and Puma Investments has an expert team ready to provide it. We look to back teams with a proven track record in their chosen sector and can typically lend up to 70% of the cost of the project but may be able to go higher depending upon the dynamics of individual deals. Property Investment We can provide bespoke loans secured on investment property suited to a range of borrowing scenarios where traditional bridging terms may be too short and traditional term loan criteria from the major banks may not be suitable. We understand the dynamics of local property markets and potential returns across the UK and will consider both residential and commercial investment loans, typically lending up to 70% of value. Working Capital and Development Capital The on-going effects of the credit crisis mean that SMEs are still finding it difficult to access the funding they need from traditional lenders. We seek to meet that demand and focus on providing secured loans to well-run companies which have substantial assets or predictable revenue streams, over which a first charge can be taken. We have worked with businesses across a range of sectors and can provide flexible packages to smooth and improve cash flows and fund growth, typically lending up to 70% of the value of the secured assets.

6 04 Benefits of working with Puma Investments Funds in hand, ready to deploy Puma Investments is a fund management business rather than a bank. We raise funds from private investors which we then manage on a discretionary basis, usually for a defined period. We therefore have funds in hand ready to lend and do not need to raise new funds or syndicate on a deal by deal basis. This helps us offer the rapid and precise service we ve become known for, and ensures that you won t be left waiting during a fund raising or book-building process. Open for business Unlike most banks today, when we say we re open for business we actually mean it. We don t have underwater legacy positions to manage out, we don t face uncertain capital adequacy ratios, and we don t have dangerously high levels of our own leverage to deal with. What we do have is a fund management and trading advisory business with nearly a billion pounds of assets under management, and a clear mandate to lend or invest funds across the UK on an asset-backed basis. Flexible approach We offer a non-bureaucratic, fast and flexible approach. Although we do require first charge security, we see ourselves as primarily backing people, be they entrepreneurs or management teams. As such we don t want the people we re backing to have to spend undue time in a drawn-out credit process, we d rather they were able to concentrate on the business or project at hand. We like to think ourselves as offering the best of both worlds, with the capital base and rigour of a conventional bank, but the speed and flexibility of a boutique. Expert, multi-disciplinary team Our team is made up of professional financiers with a diverse range of backgrounds and sector experience. We have significant structuring expertise. You can expect us to be thorough but efficient, and respond to initial queries quickly. We are accessible and seek to build lasting relationships with the people we lend to. Clear criteria We have clear criteria of what we re looking for: first charge security, quality projects and first class people, one to five years term and a visible exit. We re clear about what we ll lend: up to 70% LTV (or LTC for developments), up to 10m, unconstrained by sector or geography. Further services and support As part of the wider Shore Capital platform we are in a unique position to work with you to guide companies through the full development cycle, from early stage fund-raising to a public listing or trade sale. OPEN FOR BUSINESS NATIONAL COVERAGE EXPERIENCED TEAM YEAR HISTORY

7 Contact Us Puma Offices Bond Street House 14 Clifford street London W1S 4JU Investment Enquiries: E: Puma Investments is a trading name of Puma Investment Management Limited which is authorised and regulated by the Financial Conduct Authority. FCA Number: Registered Address: 14 Clifford Street, London W1S 4JU. Company Number:

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