LY LICENSED BY THE KUWAIT CAPITAL MARKET AUTHORITY AS REQUIRED BY LOCAL LAW. NO LICENSED PERSON HAS BEEN AUTHORIZED BY THE CENTRAL BANK OF KUWAIT, THE KUWAIT CAPITAL MARKETS AUTHORITY OR THE KUWAIT MINISTRY OF COMMERCE & INDUSTRY TO MARKET OR SELL THE INTERESTS TO CLIENTS WITHIN THE STATE OF KUWAIT AS REQUIRED BY LOCAL LAW. THERE

IDENTS ONLY: THIS MEMORANDUM IS NOT FOR GENERAL CIRCULATION TO THE PUBLIC IN KUWAIT. THE INTERESTS HAVE NOT BEEN LICENSED FOR OFFERING IN KUWAIT BY THE KUWAIT CAPITAL MARKETS AUTHORITY OR ANY OTHER RELEVANT KUWAITI GOVERNMENT AGENCY. THE OFFERING OF THE INTERESTS IN KUWAIT ON THE BASIS OF A PRIVATE PLACEMENT OR PUBLIC OFFERING IS,