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Profile 2011

Chairman's foreword

My business career has taken me all over the world and given me the opportunity to meet, and learn from, many remarkable people. It was always my intention one day to return to my home country and apply some of the many lessons I have learned to develop and grow capacity in Uganda and beyond. Through HabibOil and other ventures, I have been very fortunate to be able to do just this. Building a company in a developing market always has its challenges, but with our strong management team, led with distinction by CEO Ahmed Noor Osman, and our solid portfolio of clients, I feel tremendously proud and excited by the opportunity to implement our strategic plan and guide HabibOil through its next phase of development. With exciting times ahead not only for our company but for the regional petroleum industry as a whole, I invite you to discover more about our vision, our ethos, our achievements and the people who make HabibOil the company I feel privileged to lead.

HKagimu

Alhaj Habib Kagimu Chairman of the Board

Fuelling Uganda's growth

Access to cheap energy underpins modern societies and is a fundamental prerequisite for sustained economic growth and development. In much of sub-Saharan Africa meeting current energy requirements is already a challenge, while growing populations, climate change, and crumbling infrastructure signal a looming energy crisis which has already begun impacting on growth and development in the region. In Uganda, economic growth has averaged above 5% over the last ten years, and in order to sustain this, meeting the country's growing energy needs is paramount. Because of poor regional infrastructure and its geographical location, petroleum imports to Uganda are among the most expensive in the world. With newfound domestic reserves yet to come on tap, Uganda currently imports 100% of its petroleum requirements, spending one fifth of all revenue earned from exports on meeting the country's growing energy needs. Drawing on over thirty years of experience and a global network of contacts, HabibOil was established to become a key partner in the Uganda energy sector by providing energy solutions to the country in the most cost effective manner possible. Having assembled a team of skilled industry professionals to maximize supply chain efficiency, HabibOil has positioned itself as a leading player in the provision of bulk petroleum products in the country. With major clients on its books in both fuel retail and power generation, HabibOil is a key link in the Ugandan energy sector, providing a critical service and fueling sustained growth.

Beyond borders. Beyond bulk.

HabibOil's traditional strength is the supply of competitively priced bulk petroleum products, not only the traditional white products including petrol, diesel, jet fuel and kerosene, but also heavy fuels, bitumen, lubricants, and LPG. Long term relationships with trusted suppliers including Bakri Energy International in Saudi Arabia, and a broad network of overseas business associates, provide us with the leverage to remain competitive and maximize value for money for our customers. At the same time, we are keenly aware of the critical nature of our clients' requirements. Our focus on quality control, adherence to the highest standards of health and safety, and our rapid response policy, ensures we remain a trusted and reliable partner to all of our clients. These include Total Uganda, Delta Petroleum and Electro-Maxx, Uganda's third largest independent thermal power generator. With this strong foundation in place, the stage is set for the next chapter in the company's strategic plan. 2010 saw the opening of HabibOil's Kenya office, integrating the company with the regional oil supply chain currently controlled by the Kenyan market, and enabling HabibOil to move into the importation and refining of crude oil through membership with the Kenya Pipeline Company. Within Uganda, HabibOil concluded the takeover of the Sarope chain of petrol stations, and will roll out a network of distribution depots and fuel stations which will see the company consolidate and streamline the bulk product supply process while moving into the retail sector. The resulting improvements in flexibility and efficiency will provide the platform for HabibOil's strategic goal of becoming one of the region's top five bulk petroleum suppliers.

New strikes, new scope.

East Africa's Rift Valley has long been considered a candidate for oil exploration but, until recently, remained one of the last few real high potential areas in the world to be fully explored. In the last decade however, exploration in the region has gathered pace, with the power to transform the lives of millions in the region. Perhaps most exciting of all is the discovery of substantial reserves around the Albert Graben basin in the Western Rift Valley. Uganda's Ministry of Energy has confirmed reserves of at least two billion barrels of sweet crude beneath Lake Albert, and with exploration still ongoing in Lake Edward to the south and West Nile to the north, this figure could rise to over six billion barrels. The commercial viability of these reserves has already been established, and development is underway that will see the country become one of the top five oil producing nations in Africa, earning estimated revenues of $2bn per year. As an oil sector service provider with expertise in logistics, transportation and distribution of petroleum products, our company is ideally positioned to participate in the development of Uganda's nascent oil industry. HabibOil has entered into dialogue with Uganda's international oil partners with a view to playing a part in the proposed construction of a refinery and an extension to the pipeline linking Uganda to the Kenyan coast, providing an excellent opportunity to follow the natural expansion of the company into the upstream sector.

Embracing tomorrow. Today.

Supporting cleaner and more environmentally friendly energy intiatives is at the heart of of HabibOil's long term vision for satisfying the region's future energy requirements. With Uganda a signatory to the Kyoto Protocol, the Government of Uganda has enacted legislation to ensure that from 2010 all diesel sold in the country must be mixed with a minimum percentage of biofuel from renewable sources. While other petroleum companies seek solutions to comply with the new legislation, HabibOil prides itself on already having embraced the directive and being at the forefront of introducing cleaner energy options in Uganda. Back in 2008, HabibOil partnered with the African Power Initiative, Africa's first and largest producer of biofuel. API was established in Ethiopia and Uganda to create a new dynamic in renewable energy production in Africa. In Uganda, API employs over 3000 outgrowers of Candlenut, Castor and Jatropha. By cultivating low fertility land which would otherwise stand idle, and introducing intercropping, API ensures there is no food crop displacement while providing thousands of rural families with livelihood. Additional carbon capture benefits are sold for carbon offset to further increase income for rural communities, and by-products from husks and fibres are reutilised to manufacture charcoal alternative briquettes, reducing the impact of deforestation in the country. HabibOil acts as the offtake partner for all of API's biofuel output in Uganda, and is committed to a long term partnership to increase biofuel production in the country.

Investing in people

At HabibOil we firmly believe that our company's most valuable assets are the skilled and dedicated staff who work tirelessly to make sure our customers' expectations are met, and that HabibOil continues to grow and prosper. In turn, HabibOil is deeply committed to nurturing and enabling staff members to reach their full potential by supporting training and professional development initiatives. With oil production and export set to begin in Uganda, HabibOil recognised the importance of developing a skilled local workforce with the capacity and capabilities to service the oil sector. The company approached the Ministry of Energy and has been instrumental in brokering negotiations that have resulted in an agreement between the Government of Uganda and the Kenson School of Production Technology to ready Ugandan students for the challenge of building the local oil production industry. The Kenson School of Production Technology, based in Trinidad and Tobago, is an internationally recognized centre specializing in customised training for the oil and gas industry and is driven by a philosophy of developing high quality human resources to support the industry locally, regionally and internationally. With this solution now in place, HabibOil turned its attention to developing a local training facility at the Namanve Centre for Excellence. The company has entered into dialogue with Production Services Network, a worldwide leader in the provision of oil and gas industry services, who in association with Aberdeen Skills and Enterprise Training (ASET) provide in country courses with a strong focus on training and technology transfer to national workforces.

Creating chances

Based on his personal experience and the many opportunites afforded to him during his distinguished career, our chairman, Habib Kagimu, firmly believes that given the right chances there is potential in everyone to achieve greatness. In the developing world, where opportunities for many are limited by poverty, a helping hand can make all the difference. Following our chairman's lead, HabibOil has instituted a policy to utilize some of its resources to afford disadvantaged youth the opportunities that would otherwise be denied to them by affiliating itself with a number of established initiatives. SOS Children's Villages is a worldwide social development organization that has been working to meet the needs and protect the rights of children since 1949. The organization gives a permanent home in a family environment to disadvantaged or vulnerable children, with a focus on holistic care that includes food, clothing, education and medical services. HabibOil supports the SOS Children's Village in Entebbe, which currently looks after 120 orphans and other children at risk. The Al-Rayah Foundation was set up to promote the study of sciences among girls from disadvantaged backgrounds. In a country like Uganda, science has traditionally been a male domain, and many girls miss out on a chance to excel due to financial circumstances which force them out of education. As a keen supporter of equal opportunities in employment, HabibOil is proud to associate itself with this endeavour. The first fully fledged soccer academy in East Africa, Proline Soccer Academy was launched in 2006 by Julian Ferdinand, the father of England captain Rio Ferdinand, who has been involved with the development of soccer for many years with West Ham United's youth academy. Aside from soccer training and instruction, the academy emphasizes the importance of education and personal development in key areas such as leadership, team building and health & safety. Of the 150 children enrolled at Proline, half receive bursaries. These are paid for from a fund to which HabibOil happily contributes.

Alhaj Habib Kagimu

Our board chairman, Alhaj Habib Kagimu, is an experienced entrepreneur whose vision, commitment to business development and leadership has seen him establish fully fledged progressive enterprises making their mark both in developed and developing markets. A seasoned executive with extensive business background, complemented by multilingual skills that enable and distinguish him to negotiate successfully in multicultural environments, he is a noted figure who has networked internationally with captains of industry and world leaders. With key strengths in business development, strategic planning, mergers and acquisitions, and integration, Alhaj Habib Kagimu has built a portfolio of holdings that, aside from substantial interests in the oil industry, also include telecoms, vehicle fleet management, property, hospitality and tourism, ranching, and commercial services. He is the holder of a Law degree from the Garyounus University in Benghazi, Libya, and undertakes continuous professional development by participating in courses in business management, entrepreneurship, strategy, law, international business development and leadership. He is a member of the Institute of Directors in the United Kingdom, and holds a seat on the Presidential Mining and Petroleum Exploration Technical Working Group in Uganda. Alhaj Habib Kagimu is a noted philanthropist, regularly contributing to good causes and in particular a keen supporter of youth development and education. He philanthropic efforts were recognized internationally in 2008, when he received the Sunshine Award in the category of Humanitarian Services for his work with SOS Children's Villages in Uganda. A devout muslim, Alhaj Habib Kagimu is a keen student of the Holy Quran and Sharia Law, and was instrumental in the coordination of efforts which saw the construction of the new National Mosque and headquarters of the Uganda Muslim Supreme Council. He regularly assists fellow Muslims through travel sponsorships, enabling them to undertake religious pilgrimages to Mecca and Medina, and through contributions to the construction of mosques and donations of the Holy Quran. As an ardent soccer fan and keen supporter of Manchester United, Alhaj Habib Kagimu is the founding chairman of Proline Soccer Academy, East Africa's first fully fledged soccer academy, which was set up with the help of Julian Ferdinand, father of England captain Rio Ferdinand. He is also the deputy chairman of Express FC, Uganda's oldest premier league football club and winners of fifteen domestic trophies.

Key Personnel

Ahmed Noor Osman Chief Executive Officer

Alhaj Edinani Koire Chief Finance Officer

A career professional, Osman took his first steps in the oil industry when he persuaded his father, a commodities trader and haulier, to convert some of his trucks into tankers. From there he began supplying local fuel retailers, steadily expanding the business to incorporate national and regional haulage, eventually supplying large multinationals including Shell and managing a number of fuel stations on behalf of Gapco. Osman joined HabibOil in 2007 as a shareholder and managing partner, and has been instrumental in securing purchasing agreements and negotiating supply contracts with HabibOil clients. He oversees the logistical aspects of the company, and has been key in planning the rollout of HabibOil's network of depots and retail fuel stations. When not busy at work or travelling, Osman enjoys spending time with his family, looking after the animals on his ranch, and keeping abreast of industry developments.

Holding a degree in Commerce and an MBA, Edinani spent twenty years working in banking, initially within the private sector and later as a senior auditor for Bank of Uganda. He subsequently joined the municipal council in his hometown of Tororo, eastern Uganda, before becoming the financial secretary for the Uganda Muslim Supreme Council, a position he held for six years. Edinani joined HabibOil in 2007 as Chief Financial Officer, and is responsible for overseeing all financial aspects not only for HabibOil, but other companies within the Habib Group. A keen sportsman who once represented Uganda at volleyball, Edinani still enjoys playing football and badminton in his spare time. A father of seven and, more recently, a grandfather, he spends his free time with his family, keeping up to date with industry developments, and looking after his farm where his sugarcane plantation supplies the Ugandan sugar industry.

Japher Kalule Director

Serraj Kasule Kagimu Chief Information Officer

Already a board member of several of HabibOil's sister companies, Japher joined the board of HabibOil in 2008. With a background in Law from Makerere University and Business Administration from Newcastle University in the UK, his main areas of focus are corporate governance and regulatory affairs, while he also oversees the implementation of administrative and human resource procedures. Benefiting from a multicultural upbringing, Japher loves to travel and meet new people both on behalf of HabibOil and in a private capacity, and has traveled widely throughout Africa, the Middle East and Europe. When not traveling, Japher likes to spend time with his wife and young daughter, and lists music, film and reading among his hobbies. He also enjoys both watching and playing sports, and in particular football and basketball.

Serraj grew up in Libya, the United Kingdom and Uganda before attending the Multimedia University in Malaysia. There he gained a Bsc in Computer Engineering, with a particular focus on software programming and networking. On his return to Uganda, he took over the management of United Telecom, maintaining and servicing over five hundred masts for two of the country's leading telecommunications companies. Since joining HabibOil as Chief Information Officer, Serraj has been responsible for overhauling the company's ICT infrastructure and putting in place the processes and practices that support the company's strategic goals. Serraj's devotes much of his spare time to building his own IT consultancy, but admits to occasionally unwinding by watching football, basketball and series on TV. When he can spare the time he enjoys exploring new countries and has traveled widely throughout Africa, Europe, North America and the Far East.

A member of the Uganda Chamber of Mines and Petroleum

P. O. Box 1444 Kampala, Uganda Tel: +256 414 344396 Fax: +256 414 344298 [email protected]oil.co.ug

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