Greening India’s Growth

Story
November 2019

Jessica Craven

This document is confidential and intended solely for the use of the person to whom it is given or sent and may not be reproduced,
copied or given, in whole or in part, to any other person.
Sustainable practices
Increasing awareness through financing

• Small and medium-sized enterprises (SME’s) face the greatest hurdles in accessing affordable trade finance and increasing standards
within their business

• Incorporating Environmental, Social and Governance (ESG) factors within the financing of the supply chain ensures that the risks are
understood and queried

• ESG risk factors relevant to a transaction are determined by the product being financed, the country of production and the borrower’s
country of domicile

• Potential to educate borrowers as to risks in their commodity and industry/country, lessening the impact in the future

• Do not immediately dismiss transactions… be considerate of the impacts and highlight potential risks so the appropriate decisioning
can be made

Understand ESG risks Assess risks in Review feedback Incorporate into Monitor and manage
transactional due investment process risks
diligence

Identify by Commodity & Raise risks with Regular review to track

Moderate the risks Feedback to borrower
Country borrower progress

2
Considerations for sustainable business
Promoting a change in mindset

 Financiers can assist to increase awareness and provide conduit for advice

 Provide risk insight to SME’s

 Promote stable businesses with better growth prospects

ENVIRONMENTAL SOCIAL GOVERNANCE

Be considerate of: Be considerate of: Be considerate of:

• Biodiversity impacts • Health and safety standards • Bribery and corruption

• Supply chain sustainability • Stakeholder management and • Diversity and discrimination

community relations
• Emissions • Alignment of interest with
• Labour standards & rights shareholders
• Water and land pollution
• Indigenous impact • Accessibility and social
• Resource scarcity and inclusion
degradation • Local social and healthcare
needs for workers • Board independence
• Climate change impact and
additionality • Management of conflicts

• Fair tax treatment

3
The Impact Statement
Turning ESG into Impact and promoting change for good

1 Sustainable
Investment
Investment only into projects with proven sustainability metrics or sustainably linked loans
that provide substantive improvement against pre-determined benchmarks

2 Business
ethics
Hands on guidance to affect governance positively

3 Risk
mitigation
The Process identifies risk from the outset, work to eradicate these through life of the financing

Setting Work with the wider industry & government bodies to promote sustainability and
4 standards drive change

Challenges

1. Defining Standards: Lack of uniformity globally 2. Resource constraints

 By industry
3. No one solution on integration
 By country

 Geography 3. Regulation
 Demographic
 Political climate 4. Data quality

.
Disclaimer (1/2)

Source: GAM, unless otherwise stated.

This material is confidential and intended solely for the use of the person or persons to whom it is given, or sent, and may not be reproduced, copied or given, in whole or in part, to
any other person. It is aimed at sophisticated, professional, eligible, institutional and/or qualified investors who have the knowledge and financial sophistication to understand and
bear the risks associated with the investments described. Nothing contained herein constitutes investment, legal, tax or other advice, nor is it to be solely relied on in making an
investment or other decision. It is not an invitation to subscribe and is by way of information only.

Nothing contained herein constitutes investment, legal, tax or other advice, nor is it to be solely relied on in making an investment or other decision. This document qualifies as
marketing material.

The views expressed herein are those of the manager at the time and are subject to change. The price of shares may go down as well as up and the price will depend on
fluctuations in financial markets outside GAM's control. As a result an investor may not get back the amount invested. Past performance is not indicative of future performance and
reference to a security is not a recommendation to buy or sell that security. Holdings and allocations are subject to change. Prices quoted refer to accumulation shares, unless
otherwise stated. Historic data may be subject to restatement from time to time.

This is not an invitation to invest in any GAM product or strategy. Investments should only be made after a thorough reading of the current offering document and the financial
reports (the “legal documents”), as well as after consulting an independent finance and tax specialist. The legal documents can be obtained in hard copy and free of charge from
the addresses indicated below.

This material/presentation may mention GAM KIMURA COMMODITY TRADE FINANCE OFFSHORE FEEDER FUND LIMITED (the “Company”), registered office at PO Box
30116, 2F Landmark Square, 64 Earth Close, Seven Mile Beach, Grand Cayman, KY1-1201, Cayman Islands, as an exempted company limited by shares. The Company qualifies
as an AIF under the AIFM Law but is not itself directly supervised. The Company is managed by the AIFM, Kimura Capital LLP. The AIFM is authorised by the FCA as an
alternative investment fund manager, and will manage the Company in accordance with the AIFMD. Therefore, this document may only be transmitted to an investor in an EEA
Member State at such investor’s own initiative.

This material/presentation may mention GAM KIMURA STRUCTURED TRADE FINANCE FUND LP (the “Partnership”), registered office at PO Box 30116, 2F Landmark Square,
64 Earth Close, Seven Mile Beach, Grand Cayman, KY1-1201, Cayman Islands, as an exempted limited partnership limited by shares. The Partnership qualifies as an AIF under
the AIFM Law but is not itself directly supervised. The Partnership is managed by the AIFM, Kimura Capital LLP. The AIFM is authorised by the FCA as an alternative investment
fund manager, and will manage the Partnership in accordance with the AIFMD. Therefore, this document may only be transmitted to an investor in an EEA Member State at such
investor’s own initiative.

The Partnership and the Company may not be registered for sale in all jurisdictions. Therefore, no active marketing must be carried out for them. Subscriptions will only be received
and shares or units issued on the basis of the current offering document.

Source: GAM, Kimura Capital 5

Disclaimer (2/2)

Neither the interests in the Partnership (the “Interests”) nor the shares of the Company (the “Shares”) have been registered under the US Securities Act of 1933, as amended (the
“Securities Act”) and neither the Partnership nor the Company are registered under the US Investment Company Act of 1940, as amended (the “Company Act”). Accordingly, unless
an exemption is available, neither the Interests nor the Shares may be offered, sold or distributed in the United States or to US persons. However, pursuant to an exemption from
registration under the Securities Act and the Company Act, the Interests and/or the Shares may be sold or resold in the United States or to certain qualified US investors in
transactions that do not constitute a public offering. In addition, certain GAM products are closed to all US investors.

The distribution of Shares and Interests in Switzerland will be exclusively made to, and directed at, regulated qualified investors (the "Regulated Qualified Investors"), as defined in
Article 10 (3)(a) and (b) of the Swiss Collective Investment Schemes Act of 23 June 2006, as amended ("CISA"). Accordingly, the Company and the Partnership has not been and
will not be registered with the Swiss Financial Market Supervisory Authority (FINMA) and no Swiss representative or paying agent have been or will be appointed in Switzerland.
This document and/or any other offering materials relating to the Shares and the Interests may be made available in Switzerland solely to Regulated Qualified Investors.

The Partnership has been notified in accordance with local laws and regulations implementing the Alternative Investment Fund Managers Directive (Directive 2011/61/EU) for
marketing to professional investors into the following member states of the European Economic Area: NONE. Particularly, this document shall not be used as advertising material
for distribution to retail investors or any other kind of public offering of the Partnership or interest categories. The legal documents can be obtained from the AIFM.

The Company has been notified in accordance with local laws and regulations implementing the Alternative Investment Fund Managers Directive (Directive 2011/61/EU) for
marketing to professional investors into the following member states of the European Economic Area: United Kingdom, Sweden, Finland and Norway. Particularly, this document
shall not be used as advertising material for distribution to retail investors or any other kind of public offering of the Company or share categories. The legal documents can be
obtained from the AIFM.

Within the UK, this material has been issued and approved by GAM London Ltd, 8 Finsbury Circus, London EC2M 7GB, authorised and regulated by the Financial Conduct
Authority.

Source: GAM, Kimura Capital 6