Key Dates DSCR Minimum Average

Bid Date (Reference Date) 14-Oct-10 Total Debt 1.8 2.1

Project Effective Date 5-Apr-11 Senior Debt 1.8 2.1
Required Financial Close Date 30-Sep-11
Required Simple Cycle Commercial Operation Date 6-Apr-13
Scheduled Commercial Operation Date 6-Apr-14

Macroeconomic Assumptions IRR US$ terms Tk terms

Tk inflation growth rate 5.00% Project 9.5% 12.1%
US$ inflation growth rate 2.30% Equity 16.2% 18.9%
LIBOR 0.47%

Project Details Means of finance Total

Simple cycle capacity 222 MW Amount Percentage
Close cycle capacity 341 MW Equity Share Capital $79 30%
PLF 84.60% Shareholder loans $0 0%
Standby Equity $0 0%
Application of funds Total Additonal Equity $0 0%
Amount Percentage Sub-ordinated Debt $0 0%
EPC Cost $215 82% Senior Debt $184 70%
Site Housing, Start-up cost & Training, Spares Cost $16 6% Standby Debt $0 0%
Technical Fee $0 0% Total $262 100%
Project Development Cost $10 4%
Engineering, Consultants/Advisors & Insurance Cost $5 2%
Working Capital & Miscellenous $3 1%
Owner's Contingency $4 2%
DSRA Funded as Project Cost $0 0%
IDC and Financing Charges $9 3%
Cost Overrun $0 0%
Total cost financed $262 100%

405584025.xls: Summary Page: 1

Assumptions

Key dates

Bid Date (Reference Date) bid.date 14-Oct-10

Time forecast for signing Project Agreements 173 Days

Project Effective Date 5-Apr-11
Time allowed for achieving financial close 178 Days
Financing Agreement Signing Date sgnng.dt 31-Aug-11
Time taken to meet CPs after Signing Date 30 Days
Required Financial Close Date 30-Sep-11

Construction period for Simple Cycle Operation 24 Months

Construction period for Project Operation 36 Months
Required Simple Cycle Commercial Operation rq.oc.cod 6-Apr-13
Date
Commercial Operation Date cod 6-Apr-14
Scheduled Commercial Operation Date s.cod 6-Apr-14

Macroeconomic parameters

Tk inflation growth rate 5.00%

US$ inflation growth rate 2.30%
Bid Exchange Rate bid.xrate 70.0
LIBOR libor 0.47%

PPA terms - Bonds/Security

Term of the PPA trm.ppa 22 Yrs

Proposal Security Deposit (US$/MW) 0
Proposal Security Deposit (US$ millions) prpsl.scrty.dpst $0.00
Proposal Security Deposit commencing from 14-Oct-10
Proposal Security Deposit valid up to 30-Sep-11

Performance Security Deposit (US$/MW) 36,000

Performance Security Deposit (US$ millions) prfmnc.scrty.dpst $12.28
Proposal Security Deposit commencing from 30-Sep-11
Performance Security Deposit valid up to 6-Apr-14

Operations Deposit oprtns.scrty.dpst $11.99

No. of months of capacity payments 2.00

Operating Costs

Annual Land rent in (Tk millions) ll.rnt 4.00

Number of years for which the rental is fixed blck.yrs.ll 5 Yrs
% increase in every block of time incr.ll.rnt 20%

405584025.xls: Assumptions Page: 2

Contingency cntngncy.om 1.00%

MMRA assumptions
Amount (USD Mn) Till Contract Year
Annual provisions made for funding the MMRA maj.mnt.1 maj.mnt.cy.1 6
a/c $1.30
Annual provisions made for funding the MMRA maj.mnt.2 maj.mnt.cy.2 22
a/c $1.90
Post Tax interest earned on MMRA cash balance int.inc.mmra 0.00%

Option of cash for MMRA A/c mmra.optn Funded

O&M Costs

Total cost in ('000s) 1st contract year Proportion of Fixed in total cost Proportion of foreign cost in Cost in ('000s) in 1st year of
total cost Simple Cycle operations

Onshore consumables prjct.co.om.rent 20,150.00 prjct.co.om.rent.fxd 100.00% prjct.co.om.rent.frgn 0.00% 20,150.00

Administrative plnt.om.admn 1,000.00 plnt.om.admn.fxd 100.00% plnt.om.admn.frgn 0.00% 1,000.00
Plant Insurance plnt.om.ins $1,000.00 plnt.om.ins.fxd 100.00% plnt.om.ins.frgn 100.00% $1,000.00
Planned Maintenance CSA fixed plnt.om.rm $216.00 plnt.om.rm.fxd 100.00% plnt.om.rm.frgn 100.00% $216.00
Offshore consumables plnt.om.ro $330.00 plnt.om.ro.fxd 100.00% plnt.om.ro.frgn 100.00% $330.00
Licence renewal Fee (BERC Fee) plnt.om.sm 1,500.00 plnt.om.sm.fxd 100.00% plnt.om.sm.frgn 0.00% 1,500.00
Staff Cost plnt.om.sc $3,000.00 plnt.om.sc.fxd 100.00% plnt.om.sc.frgn 100.00% $3,000.00
CSR plnt.om.exc $150.00 plnt.om.exc.fxd 0.00% plnt.om.exc.frgn 100.00% $150.00
Plant Replacement/ Improvements plnt.om.rplmnts $100.00 plnt.om.rplmnts.fxd 100.00% plnt.om.rplmnts.frgn 100.00% $100.00

Planned Maintenance CSA fixed upto 14

contract year
Annual planned maintenance after expiry of $2,000.00
CSA
Planned Maintenance CSA variable 75 US$/Hr
Technical know how fee tchncl.fee 0.00%

RFP assumptions

Annual load profile

PLF % of annual hours
100% 78%
70% 6%
40% 6%
0% 10%

Annual Plant Load Factor rfp.plf 84.60%

No. of hours in a year rfp.hrs.yr 8,760.00
Discount rate for levelisation of tariff disc.rt.lvlsn 12%
Reference price for Natural Gas (US$/GJ) rf.prc.ngas 2.40 US$/GJ
% of Contract year 1 Capacity Tariff which is 65%
applicable for Simple Cycle Operation
Maximum Hourly Qtty of Natural Gas

Working capital

405584025.xls: Assumptions Page: 3

Receivable days recv.dys 2.0 Mths
Payables days pybl.dys 1.5 Mths
Interest on working capital facillity int.wk.cptl.fclty 10.0%
Interest on surplus cash int.csh 0.00%
DSRA dsra.optn LC
Cost of LC in lieu of DSRA lc.mmra 1.30%

Company law assumptions

Book depreciation rates (SLM)

Civil works bk.dprctn.cvl.wrks 3.00%
Plant and Machinery .dprctn.plnt.mchnry 3.00%
IDC and Others bk.dprctn.idc.othrs 3.00%

Tax depreciation rates (WDV)

Civil works tx.dprctn.cvl.wrks 20.00%
Plant and Machinery x.dprctn.plnt.mchnry 20.00%
IDC and Others tx.dprctn.idc.othrs 20.00%

Maximum depreciable value (Book depreciation) mx.dprctn.vl 66.00%

Tax holiday tx.hldy 22 Yrs

End date of tax holiday 5-Apr-36

LD assumptions

Simple Cycle Gas Supply PPA EPC

LD amount 50% 50 US$/MW per Day 66666 US$ per Day
112500 US$ per Day
Maximum LD 365 Days 12.5%
Maximum LD (US$ millions) $4.05 $26.88
LD amount $0.00 $0.00 $0.00

Combined Cycle
LD amount 100 US$/MW per Day 66666 US$ per Day
112500 US$ per Day
Maximum delay 365 Days 12.5%
Maximum LD (US$ millions) $12.45 $26.88
LD amount $0.00 $0.00

Performance shortfall
Dependable capacity
Simple cycle PPA EPC
LD amount 1000 US$/kW 1800 US$/kW
Rejection limit 10.00% 5.00%
Rejection limit in MW 22.20 11.10
Maximum LD $22.20 $19.98

405584025.xls: Assumptions Page: 4

 LD amount $0.00 $0.00

Combined cycle PPA EPC

LD amount 1000 US$/kW 1800 US$/kW
Rejection limit 10.00% 5.00%
Rejection limit in MW 34.10 17.05
Maximum LD $34.10 $30.69
LD amount $0.00 $0.00

Station Heat rate

Simple cycle EPC
LD amount 70000 US$ perkJ/kWh
Rejection limit 5.00%
Rejection limit in KJ/kWh 568.50
Maximum LD $39.80
LD amount $0.00

Combined cycle EPC

LD amount 70000 US$ perkJ/kWh
Rejection limit 5.00%
Rejection limit in KJ/kWh 380.70
Maximum LD $26.65
LD amount $0.00

Max heat rate rate LDs $37.63

Combined cap on LDs payable by EPC contractor 25.00%

Combined cap on LDs payable by EPC contractor $53.75

Net LD amount received/(payable by) Project $0.00

Company- Combined Cycle

Working for dates on indices sheet

Contract Year basis
No.of days in a period Post CoD Date 365 Days
No. of days in the stub - 1 period 64 Days 0 Days
Commencement of period number 15.0
No. of months pre Stub period 3 Months

Financial Year basis

FYE of Project CoD Date 31-Jan-15
No. of months Post CoD Date 12 Months
Commencement of period number 14.0
Commencement of year number 3.0
No. of days of offset between CY and FY 301.0
No. of time periods of 12 months of OC operation 4

405584025.xls: Assumptions Page: 5

Other assumptions

No. of KW in a MW 1000
Check for leap year
Year number should be divisble by and 400
Year number should be divisble by 4
No. of hours in a day 24
Comment Comment All figures in millions Taka unless mentioned otherwise
Comment US$ Comment.us All figures in millions US$ unless mentioned otherwise

405584025.xls: Assumptions Page: 6

Balance Sheet All figures in millions Taka unless mentioned otherwise

Start Date 1-Feb-13 1-May-13 1-Aug-13 1-Nov-13 1-Feb-14 6-Apr-14 6-Apr-15 6-Apr-16 6-Apr-17 6-Apr-18 6-Apr-19
End Date 30-Apr-13 31-Jul-13 31-Oct-13 31-Jan-14 5-Apr-14 5-Apr-15 5-Apr-16 5-Apr-17 5-Apr-18 5-Apr-19 5-Apr-20
No. of days in period 89.00 92.00 92.00 92.00 64.00 365.00 366.00 365.00 365.00 365.00 366.00
Period number -5.00 -4.00 -3.00 -2.00 -1.00 0.00 1.00 2.00 3.00 4.00 5.00
Contract Year number 0.00 0.00 0.00 0.00 0.00 1.00 2.00 3.00 4.00 5.00 6.00
No. of months in period 3.00 3.00 3.00 3.00 2.10 12.00 12.00 12.00 12.00 12.00 12.00

Start Date 1-Feb-13 1-May-13 1-Aug-13 1-Nov-13 1-Feb-14 1-Feb-15 1-Feb-16 1-Feb-17 1-Feb-18 1-Feb-19 1-Feb-20
End Date 30-Apr-13 31-Jul-13 31-Oct-13 31-Jan-14 31-Jan-15 31-Jan-16 31-Jan-17 31-Jan-18 31-Jan-19 31-Jan-20 31-Jan-21
Period number -4.00 -3.00 -2.00 -1.00 0.00 1.00 2.00 3.00 4.00 5.00 6.00
Financial Year number 0.00 0.00 0.00 0.00 1.00 2.00 3.00 4.00 5.00 6.00 7.00

Shareholder Funds 3,380.43 4,363.39 4,820.13 5,236.84 5,851.42 5,851.42 5,851.42 5,851.42 5,851.42 5,851.42 5,851.42
Surplus from Profit and Loss 28.17 167.98 294.97 415.37 429.36 429.36 429.36 782.67 1,246.75 1,762.37 2,333.58

Subordinated Debt 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Senior Debt 8,016.34 10,369.96 11,507.34 12,558.55 14,053.30 13,733.62 13,237.69 12,653.84 12,029.95 11,336.83 10,570.53

Working Capital Facility 43.14 149.26 150.17 151.09 152.20 448.32 454.66 473.84 486.86 500.50 514.46

Short term debt Facillity 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Net Deferred tax liability 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Payables 13.96 58.01 58.73 59.46 59.65 62.48 65.76 68.83 72.24 75.82 79.92

Total Liabilities & Equity 11,482.04 15,108.61 16,831.34 18,421.31 20,545.94 20,525.20 20,038.90 19,830.60 19,687.23 19,526.94 19,349.91

Gross Fixed Assets 11,268.10 14,544.64 16,067.09 17,456.15 19,504.74 19,504.74 19,547.97 19,593.36 19,772.09 19,822.13 19,874.68
Accumulated Depreciation 6.81 40.69 80.87 124.87 221.89 807.03 1,392.82 1,979.94 2,570.42 3,164.34 3,759.79
Net Fixed Assets 11,261.29 14,503.95 15,986.22 17,331.28 19,282.85 18,697.70 18,155.14 17,613.41 17,201.66 16,657.79 16,114.89

Fx loss 129.71 190.05 261.85 340.85 401.78 763.81 1,115.25 1,452.63 1,774.29 2,078.80 2,364.31

Receivables 57.10 207.27 208.90 210.55 211.85 510.80 520.42 542.67 559.10 576.32 594.38

Reserves
DSRA 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
MMRA 0.00 0.00 0.00 0.00 0.00 100.82 161.07 221.89 152.18 214.03 276.33

Cash 33.95 207.34 374.36 538.63 649.46 452.07 87.02 0.00 0.00 0.00 0.00

Total Assets 11,482.04 15,108.61 16,831.34 18,421.31 20,545.94 20,525.20 20,038.90 19,830.60 19,687.23 19,526.94 19,349.91

Reserves (orig) 0.00 0.00 0.00 0.00 0.00 100.82 161.07 221.89 152.18 214.03 276.33
Reserves (copy) 95.97 100.21 129.37 341.70 1,850.62 1,972.85 1,992.65 2,250.03 2,372.82 2,239.97 2,457.00
Reserves (copy) in US$ millions $1.29 $1.34 $1.71 $4.50 $24.23 $25.44 $25.03 $27.54 $28.30 $26.02 $27.81

405584025.xls: Balance Sheet Page: 7

Balance Sheet All figures in millions Taka unless mentioned otherwise

Start Date 1-Feb-13 1-May-13 1-Aug-13 1-Nov-13 1-Feb-14 6-Apr-14 6-Apr-15 6-Apr-16 6-Apr-17 6-Apr-18 6-Apr-19
End Date 30-Apr-13 31-Jul-13 31-Oct-13 31-Jan-14 5-Apr-14 5-Apr-15 5-Apr-16 5-Apr-17 5-Apr-18 5-Apr-19 5-Apr-20
No. of days in period 89.00 92.00 92.00 92.00 64.00 365.00 366.00 365.00 365.00 365.00 366.00
Period number -5.00 -4.00 -3.00 -2.00 -1.00 0.00 1.00 2.00 3.00 4.00 5.00
Contract Year number 0.00 0.00 0.00 0.00 0.00 1.00 2.00 3.00 4.00 5.00 6.00
No. of months in period 3.00 3.00 3.00 3.00 2.10 12.00 12.00 12.00 12.00 12.00 12.00

Start Date 1-Feb-13 1-May-13 1-Aug-13 1-Nov-13 1-Feb-14 1-Feb-15 1-Feb-16 1-Feb-17 1-Feb-18 1-Feb-19 1-Feb-20
End Date 30-Apr-13 31-Jul-13 31-Oct-13 31-Jan-14 31-Jan-15 31-Jan-16 31-Jan-17 31-Jan-18 31-Jan-19 31-Jan-20 31-Jan-21
Period number -4.00 -3.00 -2.00 -1.00 0.00 1.00 2.00 3.00 4.00 5.00 6.00
Financial Year number 0.00 0.00 0.00 0.00 1.00 2.00 3.00 4.00 5.00 6.00 7.00

Amounts in US$ millions

Shareholder Funds $48.29 $62.33 $68.86 $74.81 $83.59 $83.59 $83.59 $83.59 $83.59 $83.59 $83.59
Surplus from Proft and Loss $0.40 $2.40 $4.21 $5.93 $6.13 $6.13 $6.13 $11.18 $17.81 $25.18 $33.34

Subordinated Debt $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Senior Debt $114.52 $148.14 $164.39 $179.41 $200.76 $196.19 $189.11 $180.77 $171.86 $161.95 $151.01

Working Capital Facility $0.62 $2.13 $2.15 $2.16 $2.17 $6.40 $6.50 $6.77 $6.96 $7.15 $7.35

Short term debt Facillity $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

Payables $0.20 $0.83 $0.84 $0.85 $0.85 $0.89 $0.94 $0.98 $1.03 $1.08 $1.14

Total Liabilities & Equity $164.03 $215.84 $240.45 $263.16 $293.51 $293.22 $286.27 $283.29 $281.25 $278.96 $276.43

Gross Fixed Assets $160.97 $207.78 $229.53 $249.37 $278.64 $278.64 $279.26 $279.91 $282.46 $283.17 $283.92
Accumulated Depreciation $0.10 $0.58 $1.16 $1.78 $3.17 $11.53 $19.90 $28.28 $36.72 $45.20 $53.71
Net Fixed Assets $160.88 $207.20 $228.37 $247.59 $275.47 $267.11 $259.36 $251.62 $245.74 $237.97 $230.21

Receivables $0.82 $2.96 $2.98 $3.01 $3.03 $7.30 $7.43 $7.75 $7.99 $8.23 $8.49

Reserves
DSRA $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
MMRA $0.00 $0.00 $0.00 $0.00 $0.00 $1.44 $2.30 $3.17 $2.17 $3.06 $3.95

Cash $0.48 $2.96 $5.35 $7.69 $9.28 $6.46 $1.24 $0.00 $0.00 $0.00 $0.00

Total Assets $164.03 $215.84 $240.45 $263.16 $293.51 $293.22 $286.27 $283.29 $281.25 $278.96 $276.43

405584025.xls: Balance Sheet Page: 8

Balance Sheet All figures in millions Taka unless mentioned otherwise

Start Date 6-Apr-20 6-Apr-21 6-Apr-22 6-Apr-23 6-Apr-24 6-Apr-25 6-Apr-26 6-Apr-27 6-Apr-28 6-Apr-29 6-Apr-30
End Date 5-Apr-21 5-Apr-22 5-Apr-23 5-Apr-24 5-Apr-25 5-Apr-26 5-Apr-27 5-Apr-28 5-Apr-29 5-Apr-30 5-Apr-31
No. of days in period 365.00 365.00 365.00 366.00 365.00 365.00 365.00 366.00 365.00 365.00 365.00
Period number 6.00 7.00 8.00 9.00 10.00 11.00 12.00 13.00 14.00 15.00 16.00
Contract Year number 7.00 8.00 9.00 10.00 11.00 12.00 13.00 14.00 15.00 16.00 17.00
No. of months in period 12.00 12.00 12.00 12.00 12.00 12.00 12.00 12.00 12.00 12.00 12.00

Start Date 1-Feb-21 1-Feb-22 1-Feb-23 1-Feb-24 1-Feb-25 1-Feb-26 1-Feb-27 1-Feb-28 1-Feb-29 1-Feb-30 1-Feb-31
End Date 31-Jan-22 31-Jan-23 31-Jan-24 31-Jan-25 31-Jan-26 31-Jan-27 31-Jan-28 31-Jan-29 31-Jan-30 31-Jan-31 31-Jan-32
Period number 7.00 8.00 9.00 10.00 11.00 12.00 13.00 14.00 15.00 16.00 17.00
Financial Year number 8.00 9.00 10.00 11.00 12.00 13.00 14.00 15.00 16.00 17.00 18.00

Shareholder Funds ### 5,851.42 5,851.42 5,851.42 5,851.42 5,851.42 5,851.42 5,851.42 5,851.42 5,851.42 5,851.42 5,851.42
Surplus from Profit and Loss ### 3,000.14 3,734.19 4,532.04 5,393.43 6,416.03 7,479.95 8,650.12 9,976.68 9,976.68 9,976.68 9,976.68

Subordinated Debt ### 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Senior Debt ### 9,738.50 8,813.58 7,802.55 6,700.71 5,406.71 4,039.74 2,529.14 817.84 419.71 0.00 0.00

Working Capital Facility ### 529.52 547.15 556.76 584.94 589.48 602.99 620.96 666.16 647.27 656.35 674.83

Short term debt Facillity ### 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Net Deferred tax liability ### 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Payables ### 83.65 87.80 92.15 96.99 101.67 106.71 112.00 117.88 161.64 169.85 178.29

Total Liabilities & Equity ### 19,203.24 19,034.14 18,834.92 18,627.48 18,365.32 18,080.81 17,763.64 17,429.98 17,056.72 16,654.30 16,681.23

Gross Fixed Assets ### 20,288.48 20,346.41 20,407.24 20,650.75 20,717.81 20,788.23 21,057.80 21,300.41 21,555.15 21,822.62 22,103.47
Accumulated Depreciation ### 4,362.24 4,971.76 5,583.07 6,198.94 6,819.46 7,442.05 8,069.74 8,705.12 9,347.95 9,998.62 10,657.51
Net Fixed Assets ### 15,926.24 15,374.65 14,824.18 14,451.81 13,898.35 13,346.18 12,988.05 12,595.29 12,207.19 11,824.00 11,445.96

Fx loss ### 2,629.01 2,870.85 3,087.47 3,276.59 3,434.53 3,557.82 3,643.65 3,687.54 3,703.73 3,709.27 3,709.27

Receivables ### 613.17 634.95 648.91 681.93 691.15 709.70 732.96 784.03 808.91 826.20 853.12

Reserves
DSRA ### 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
MMRA ### 34.80 153.70 274.37 217.15 341.29 467.12 398.98 363.12 320.58 270.90 213.60

Cash ### 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 16.32 23.93 459.27

Total Assets ### 19,203.24 19,034.14 18,834.92 18,627.48 18,365.32 18,080.81 17,763.64 17,429.98 17,056.72 16,654.30 16,681.23

Reserves (orig) ### 34.80 153.70 274.37 217.15 341.29 467.12 398.98 363.12 320.58 270.90 213.60
Reserves (copy) ### 2,478.29 1,294.58 1,488.54 1,421.82 603.70 862.67 858.51 926.61 1,032.24 1,321.78 0.00
Reserves (copy) in US$ millions ### $27.33 $13.91 $15.58 $14.50 $6.00 $8.35 $8.10 $8.52 $9.24 $11.53 $0.00

405584025.xls: Balance Sheet Page: 9

Balance Sheet All figures in millions Taka unless mentioned otherwise

Start Date 6-Apr-20 6-Apr-21 6-Apr-22 6-Apr-23 6-Apr-24 6-Apr-25 6-Apr-26 6-Apr-27 6-Apr-28 6-Apr-29 6-Apr-30
End Date 5-Apr-21 5-Apr-22 5-Apr-23 5-Apr-24 5-Apr-25 5-Apr-26 5-Apr-27 5-Apr-28 5-Apr-29 5-Apr-30 5-Apr-31
No. of days in period 365.00 365.00 365.00 366.00 365.00 365.00 365.00 366.00 365.00 365.00 365.00
Period number 6.00 7.00 8.00 9.00 10.00 11.00 12.00 13.00 14.00 15.00 16.00
Contract Year number 7.00 8.00 9.00 10.00 11.00 12.00 13.00 14.00 15.00 16.00 17.00
No. of months in period 12.00 12.00 12.00 12.00 12.00 12.00 12.00 12.00 12.00 12.00 12.00

Start Date 1-Feb-21 1-Feb-22 1-Feb-23 1-Feb-24 1-Feb-25 1-Feb-26 1-Feb-27 1-Feb-28 1-Feb-29 1-Feb-30 1-Feb-31
End Date 31-Jan-22 31-Jan-23 31-Jan-24 31-Jan-25 31-Jan-26 31-Jan-27 31-Jan-28 31-Jan-29 31-Jan-30 31-Jan-31 31-Jan-32
Period number 7.00 8.00 9.00 10.00 11.00 12.00 13.00 14.00 15.00 16.00 17.00
Financial Year number 8.00 9.00 10.00 11.00 12.00 13.00 14.00 15.00 16.00 17.00 18.00

Amounts in US$ millions

Shareholder Funds ### $83.59 $83.59 $83.59 $83.59 $83.59 $83.59 $83.59 $83.59 $83.59 $83.59 $83.59
Surplus from Proft and Loss ### $42.86 $53.35 $64.74 $77.05 $91.66 $106.86 $123.57 $142.52 $142.52 $142.52 $142.52

Subordinated Debt ### $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Senior Debt ### $139.12 $125.91 $111.47 $95.72 $77.24 $57.71 $36.13 $11.68 $6.00 $0.00 $0.00

Working Capital Facility ### $7.56 $7.82 $7.95 $8.36 $8.42 $8.61 $8.87 $9.52 $9.25 $9.38 $9.64

Short term debt Facillity ### $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

Payables ### $1.19 $1.25 $1.32 $1.39 $1.45 $1.52 $1.60 $1.68 $2.31 $2.43 $2.55

Total Liabilities & Equity ### $274.33 $271.92 $269.07 $266.11 $262.36 $258.30 $253.77 $249.00 $243.67 $237.92 $238.30

Gross Fixed Assets ### $289.84 $290.66 $291.53 $295.01 $295.97 $296.97 $300.83 $304.29 $307.93 $311.75 $315.76
Accumulated Depreciation ### $62.32 $71.03 $79.76 $88.56 $97.42 $106.32 $115.28 $124.36 $133.54 $142.84 $152.25
Net Fixed Assets ### $227.52 $219.64 $211.77 $206.45 $198.55 $190.66 $185.54 $179.93 $174.39 $168.91 $163.51

Receivables ### $8.76 $9.07 $9.27 $9.74 $9.87 $10.14 $10.47 $11.20 $11.56 $11.80 $12.19

Reserves
DSRA ### $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
MMRA ### $0.50 $2.20 $3.92 $3.10 $4.88 $6.67 $5.70 $5.19 $4.58 $3.87 $3.05

Cash ### $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.23 $0.34 $6.56

Total Assets ### $274.33 $271.92 $269.07 $266.11 $262.36 $258.30 $253.77 $249.00 $243.67 $237.92 $238.30

405584025.xls: Balance Sheet Page: 10

Balance Sheet All figures in millions Taka unless mentioned otherwise

Start Date 6-Apr-31 6-Apr-32 6-Apr-33 6-Apr-34 6-Apr-35

End Date 5-Apr-32 5-Apr-33 5-Apr-34 5-Apr-35 5-Apr-36
No. of days in period 366.00 365.00 365.00 365.00 366.00
Period number 17.00 18.00 19.00 20.00 21.00
Contract Year number 18.00 19.00 20.00 21.00 22.00
No. of months in period 12.00 12.00 12.00 12.00 12.00

Start Date 1-Feb-32 1-Feb-33 1-Feb-34 1-Feb-35 1-Feb-36

End Date 31-Jan-33 31-Jan-34 31-Jan-35 31-Jan-36 31-Jan-37
Period number 18.00 19.00 20.00 21.00 22.00
Financial Year number 19.00 20.00 21.00 22.00 23.00

Shareholder Funds ### 5,851.42 5,851.42 5,851.42 5,851.42 5,851.42

Surplus from Profit and Loss ### 9,976.68 9,976.68 9,976.68 9,976.68 9,976.68

Subordinated Debt ### 0.00 0.00 0.00 0.00 0.00

Senior Debt ### 0.00 0.00 0.00 0.00 0.00

Working Capital Facility ### 693.74 714.01 817.39 839.61 862.77

Short term debt Facillity ### 0.00 0.00 0.00 0.00 0.00

Net Deferred tax liability ### 0.00 0.00 0.00 0.00 0.00

Payables ### 187.53 196.46 206.23 216.70 227.93

Total Liabilities & Equity ### 16,709.37 16,738.57 16,851.73 16,884.41 16,918.80

Gross Fixed Assets ### 22,398.37 22,708.00 23,033.12 23,374.50 23,676.84

Accumulated Depreciation ### 11,325.04 12,001.63 12,687.75 13,383.86 14,002.29
Net Fixed Assets ### 11,073.33 10,706.37 10,345.38 9,990.64 9,674.54

Fx loss ### 3,709.27 3,709.27 3,709.27 3,709.27 3,709.27

Receivables ### 881.27 910.47 1,023.62 1,056.31 1,090.70

Reserves
DSRA ### 0.00 0.00 0.00 0.00 0.00
MMRA ### 148.16 74.03 -9.37 -102.64 -150.33

Cash ### 897.35 1,338.44 1,782.83 2,230.84 2,594.62

Total Assets ### 16,709.37 16,738.57 16,851.73 16,884.41 16,918.80

Reserves (orig) ### 148.16 74.03 -9.37 -102.64 -150.33

Reserves (copy) ### 207.13 444.16 526.26 0.00 0.00
Reserves (copy) in US$ millions ### $1.72 $3.58 $4.14 $0.00 $0.00

405584025.xls: Balance Sheet Page: 11

Balance Sheet All figures in millions Taka unless mentioned otherwise

Start Date 6-Apr-31 6-Apr-32 6-Apr-33 6-Apr-34 6-Apr-35

End Date 5-Apr-32 5-Apr-33 5-Apr-34 5-Apr-35 5-Apr-36
No. of days in period 366.00 365.00 365.00 365.00 366.00
Period number 17.00 18.00 19.00 20.00 21.00
Contract Year number 18.00 19.00 20.00 21.00 22.00
No. of months in period 12.00 12.00 12.00 12.00 12.00

Start Date 1-Feb-32 1-Feb-33 1-Feb-34 1-Feb-35 1-Feb-36

End Date 31-Jan-33 31-Jan-34 31-Jan-35 31-Jan-36 31-Jan-37
Period number 18.00 19.00 20.00 21.00 22.00
Financial Year number 19.00 20.00 21.00 22.00 23.00

Amounts in US$ millions

Shareholder Funds ### $83.59 $83.59 $83.59 $83.59 $83.59
Surplus from Proft and Loss ### $142.52 $142.52 $142.52 $142.52 $142.52

Subordinated Debt ### $0.00 $0.00 $0.00 $0.00 $0.00

Senior Debt ### $0.00 $0.00 $0.00 $0.00 $0.00

Working Capital Facility ### $9.91 $10.20 $11.68 $11.99 $12.33

Short term debt Facillity ### $0.00 $0.00 $0.00 $0.00 $0.00

Payables ### $2.68 $2.81 $2.95 $3.10 $3.26

Total Liabilities & Equity ### $238.71 $239.12 $240.74 $241.21 $241.70

Gross Fixed Assets ### $319.98 $324.40 $329.04 $333.92 $338.24

Accumulated Depreciation ### $161.79 $171.45 $181.25 $191.20 $200.03
Net Fixed Assets ### $158.19 $152.95 $147.79 $142.72 $138.21

Receivables ### $12.59 $13.01 $14.62 $15.09 $15.58

Reserves
DSRA ### $0.00 $0.00 $0.00 $0.00 $0.00
MMRA ### $2.12 $1.06 -$0.13 -$1.47 -$2.15

Cash ### $12.82 $19.12 $25.47 $31.87 $37.07

Total Assets ### $238.71 $239.12 $240.74 $241.21 $241.70

405584025.xls: Balance Sheet Page: 12

 All figures in millions Taka unless mentioned
Profit and Loss otherwise

Start Date 1-Feb-13 1-May-13 1-Aug-13 1-Nov-13 1-Feb-14 6-Apr-14 6-Apr-15 6-Apr-16 6-Apr-17
End Date 30-Apr-13 31-Jul-13 31-Oct-13 31-Jan-14 5-Apr-14 5-Apr-15 5-Apr-16 5-Apr-17 5-Apr-18
No. of days in period 89.00 92.00 92.00 92.00 64.00 365.00 366.00 365.00 365.00
Period number -5.00 -4.00 -3.00 -2.00 -1.00 0.00 1.00 2.00 3.00
Contract Year number 0.00 0.00 0.00 0.00 0.00 1.00 2.00 3.00 4.00
No. of months in period 3.00 3.00 3.00 3.00 2.10 12.00 12.00 12.00 12.00

Start Date 1-Feb-13 1-May-13 1-Aug-13 1-Nov-13 1-Feb-14 1-Feb-15 1-Feb-16 1-Feb-17 1-Feb-18
End Date 30-Apr-13 31-Jul-13 31-Oct-13 31-Jan-14 31-Jan-15 31-Jan-16 31-Jan-17 31-Jan-18 31-Jan-19
Period number -4.00 -3.00 -2.00 -1.00 0.00 1.00 2.00 3.00 4.00
Financial Year number 0.00 0.00 0.00 0.00 1.00 2.00 3.00 4.00 5.00

Operating Revenue (excluding fuel cost) 85.65 310.90 313.35 315.82 222.45 3,064.81 3,122.51 3,256.01 3,354.61
Payments for fuel 163.31 608.37 615.90 623.52 437.92 3,951.19 4,128.63 4,310.03 4,514.71
Operating Costs 27.92 116.03 117.46 118.92 83.51 499.86 526.05 550.61 577.90
Cost of fuel 159.25 593.22 600.56 607.99 427.01 3,871.11 4,064.90 4,252.81 4,462.48
Operating Profit 61.79 210.03 211.23 212.44 149.84 2,645.04 2,660.18 2,762.62 2,828.94

Interest income 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest on working capital, finance charges 0.83 2.69 4.03 3.99 4.72 41.86 62.71 64.14 65.90

Interest on term debt (Senior and Subordinated) 25.66 33.64 40.04 44.05 34.10 581.13 563.89 541.54 516.43
Depreciation 6.81 33.88 40.18 44.00 97.02 585.14 585.79 587.12 590.48
Profit Before Tax 28.48 139.81 126.98 120.40 14.00 1,436.90 1,447.79 1,569.82 1,656.13

Tax paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Deferred tax 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Profit After Tax 28.48 139.81 126.98 120.40 14.00 1,436.90 1,447.79 1,569.82 1,656.13

Dividends 0.00 0.00 0.00 0.00 0.00 1,436.90 1,447.79 1,216.51 1,192.05
Transferred to Balance Sheet 28.48 139.81 126.98 120.40 14.00 0.00 0.00 353.31 464.08

Figures in US$ millions

Operating Revenue $1.22 $4.44 $4.48 $4.51 $3.18 $43.78 $44.61 $46.51 $47.92
Recovery of fuel cost $2.33 $8.69 $8.80 $8.91 $6.26 $56.45 $58.98 $61.57 $64.50
Operating Costs $0.40 $1.66 $1.68 $1.70 $1.19 $7.14 $7.52 $7.87 $8.26
Cost of fuel $2.27 $8.47 $8.58 $8.69 $6.10 $55.30 $58.07 $60.75 $63.75
Operating Profit $0.88 $3.00 $3.02 $3.03 $2.14 $37.79 $38.00 $39.47 $40.41

Interest income $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Interest on working capital, finance charges $0.01 $0.04 $0.06 $0.06 $0.07 $0.60 $0.90 $0.92 $0.94

405584025.xls: Profit and Loss Page: 13

 All figures in millions Taka unless mentioned
Profit and Loss otherwise

Start Date 1-Feb-13 1-May-13 1-Aug-13 1-Nov-13 1-Feb-14 6-Apr-14 6-Apr-15 6-Apr-16 6-Apr-17
End Date 30-Apr-13 31-Jul-13 31-Oct-13 31-Jan-14 5-Apr-14 5-Apr-15 5-Apr-16 5-Apr-17 5-Apr-18
No. of days in period 89.00 92.00 92.00 92.00 64.00 365.00 366.00 365.00 365.00
Period number -5.00 -4.00 -3.00 -2.00 -1.00 0.00 1.00 2.00 3.00
Contract Year number 0.00 0.00 0.00 0.00 0.00 1.00 2.00 3.00 4.00
No. of months in period 3.00 3.00 3.00 3.00 2.10 12.00 12.00 12.00 12.00

Start Date 1-Feb-13 1-May-13 1-Aug-13 1-Nov-13 1-Feb-14 1-Feb-15 1-Feb-16 1-Feb-17 1-Feb-18
End Date 30-Apr-13 31-Jul-13 31-Oct-13 31-Jan-14 31-Jan-15 31-Jan-16 31-Jan-17 31-Jan-18 31-Jan-19
Period number -4.00 -3.00 -2.00 -1.00 0.00 1.00 2.00 3.00 4.00
Financial Year number 0.00 0.00 0.00 0.00 1.00 2.00 3.00 4.00 5.00

Interest on term debt (Senior and Subordinated) $0.37 $0.48 $0.57 $0.63 $0.49 $8.30 $8.06 $7.74 $7.38
Depreciation $0.10 $0.48 $0.57 $0.63 $1.39 $8.36 $8.37 $8.39 $8.44
Profit Before Tax $0.41 $2.00 $1.81 $1.72 $0.20 $20.53 $20.68 $22.43 $23.66

Tax paid $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Deferred tax $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Profit After Tax $0.41 $2.00 $1.81 $1.72 $0.20 $20.53 $20.68 $22.43 $23.66

Dividends $0.00 $0.00 $0.00 $0.00 $0.00 $20.53 $20.68 $17.38 $17.03
Transferred to Balance Sheet $0.41 $2.00 $1.81 $1.72 $0.20 $0.00 $0.00 $5.05 $6.63

405584025.xls: Profit and Loss Page: 14

 All figures in millions Taka unless mentioned
Profit and Loss otherwise

Start Date 6-Apr-18 6-Apr-19 6-Apr-20 6-Apr-21 6-Apr-22 6-Apr-23 6-Apr-24 6-Apr-25 6-Apr-26 6-Apr-27
End Date 5-Apr-19 5-Apr-20 5-Apr-21 5-Apr-22 5-Apr-23 5-Apr-24 5-Apr-25 5-Apr-26 5-Apr-27 5-Apr-28
No. of days in period 365.00 366.00 365.00 365.00 365.00 366.00 365.00 365.00 365.00 366.00
Period number 4.00 5.00 6.00 7.00 8.00 9.00 10.00 11.00 12.00 13.00
Contract Year number 5.00 6.00 7.00 8.00 9.00 10.00 11.00 12.00 13.00 14.00
No. of months in period 12.00 12.00 12.00 12.00 12.00 12.00 12.00 12.00 12.00 12.00

Start Date 1-Feb-19 1-Feb-20 1-Feb-21 1-Feb-22 1-Feb-23 1-Feb-24 1-Feb-25 1-Feb-26 1-Feb-27 1-Feb-28
End Date 31-Jan-20 31-Jan-21 31-Jan-22 31-Jan-23 31-Jan-24 31-Jan-25 31-Jan-26 31-Jan-27 31-Jan-28 31-Jan-29
Period number 5.00 6.00 7.00 8.00 9.00 10.00 11.00 12.00 13.00 14.00
Financial Year number 6.00 7.00 8.00 9.00 10.00 11.00 12.00 13.00 14.00 15.00

Operating Revenue (excluding fuel cost) 3,457.95 3,566.29 3,679.04 3,809.68 3,893.45 4,091.55 4,146.90 4,258.19 4,397.75 4,704.21
Payments for fuel 4,730.99 4,972.45 5,222.61 5,469.21 5,732.52 6,026.41 6,301.75 6,608.49 6,961.22 7,309.78
Operating Costs 606.56 639.35 669.20 702.37 737.20 775.90 813.32 853.65 895.99 943.02
Cost of fuel 4,683.24 4,928.71 5,175.28 5,427.44 5,695.40 5,993.45 6,273.42 6,584.81 6,933.30 7,290.88
Operating Profit 2,899.14 2,970.69 3,057.18 3,149.07 3,193.37 3,348.61 3,361.91 3,428.23 3,529.69 3,780.08

Interest income 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest on working capital, finance charges 67.40 68.94 70.56 72.36 73.90 75.97 77.80 78.89 80.66 75.02

Interest on term debt (Senior and Subordinated) 489.00 458.51 425.03 388.15 347.39 302.82 252.08 195.51 134.28 65.49
Depreciation 593.91 595.45 602.45 609.52 611.30 615.87 620.53 622.59 627.69 635.37
Profit Before Tax 1,748.83 1,847.79 1,959.14 2,079.04 2,160.77 2,353.95 2,411.51 2,531.24 2,687.06 3,004.20

Tax paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Deferred tax 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Profit After Tax 1,748.83 1,847.79 1,959.14 2,079.04 2,160.77 2,353.95 2,411.51 2,531.24 2,687.06 3,004.20

Dividends 1,233.22 1,276.58 1,292.58 1,344.98 1,362.92 1,492.56 1,388.90 1,467.32 1,516.90 1,677.64
Transferred to Balance Sheet 515.62 571.21 666.56 734.05 797.85 861.38 1,022.61 1,063.91 1,170.17 1,326.57

Figures in US$ millions

Operating Revenue $49.40 $50.95 $52.56 $54.42 $55.62 $58.45 $59.24 $60.83 $62.83 $67.20
Recovery of fuel cost $67.59 $71.03 $74.61 $78.13 $81.89 $86.09 $90.03 $94.41 $99.45 $104.43
Operating Costs $8.67 $9.13 $9.56 $10.03 $10.53 $11.08 $11.62 $12.19 $12.80 $13.47
Cost of fuel $66.90 $70.41 $73.93 $77.53 $81.36 $85.62 $89.62 $94.07 $99.05 $104.16
Operating Profit $41.42 $42.44 $43.67 $44.99 $45.62 $47.84 $48.03 $48.97 $50.42 $54.00

Interest income $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Interest on working capital, finance charges $0.96 $0.98 $1.01 $1.03 $1.06 $1.09 $1.11 $1.13 $1.15 $1.07

405584025.xls: Profit and Loss Page: 15

 All figures in millions Taka unless mentioned
Profit and Loss otherwise

Start Date 6-Apr-18 6-Apr-19 6-Apr-20 6-Apr-21 6-Apr-22 6-Apr-23 6-Apr-24 6-Apr-25 6-Apr-26 6-Apr-27
End Date 5-Apr-19 5-Apr-20 5-Apr-21 5-Apr-22 5-Apr-23 5-Apr-24 5-Apr-25 5-Apr-26 5-Apr-27 5-Apr-28
No. of days in period 365.00 366.00 365.00 365.00 365.00 366.00 365.00 365.00 365.00 366.00
Period number 4.00 5.00 6.00 7.00 8.00 9.00 10.00 11.00 12.00 13.00
Contract Year number 5.00 6.00 7.00 8.00 9.00 10.00 11.00 12.00 13.00 14.00
No. of months in period 12.00 12.00 12.00 12.00 12.00 12.00 12.00 12.00 12.00 12.00

Start Date 1-Feb-19 1-Feb-20 1-Feb-21 1-Feb-22 1-Feb-23 1-Feb-24 1-Feb-25 1-Feb-26 1-Feb-27 1-Feb-28
End Date 31-Jan-20 31-Jan-21 31-Jan-22 31-Jan-23 31-Jan-24 31-Jan-25 31-Jan-26 31-Jan-27 31-Jan-28 31-Jan-29
Period number 5.00 6.00 7.00 8.00 9.00 10.00 11.00 12.00 13.00 14.00
Financial Year number 6.00 7.00 8.00 9.00 10.00 11.00 12.00 13.00 14.00 15.00

Interest on term debt (Senior and Subordinated) $6.99 $6.55 $6.07 $5.54 $4.96 $4.33 $3.60 $2.79 $1.92 $0.94
Depreciation $8.48 $8.51 $8.61 $8.71 $8.73 $8.80 $8.86 $8.89 $8.97 $9.08
Profit Before Tax $24.98 $26.40 $27.99 $29.70 $30.87 $33.63 $34.45 $36.16 $38.39 $42.92

Tax paid $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Deferred tax $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Profit After Tax $24.98 $26.40 $27.99 $29.70 $30.87 $33.63 $34.45 $36.16 $38.39 $42.92

Dividends $17.62 $18.24 $18.47 $19.21 $19.47 $21.32 $19.84 $20.96 $21.67 $23.97
Transferred to Balance Sheet $7.37 $8.16 $9.52 $10.49 $11.40 $12.31 $14.61 $15.20 $16.72 $18.95

405584025.xls: Profit and Loss Page: 16

 All figures in millions Taka unless mentioned
Profit and Loss otherwise

Start Date 6-Apr-28 6-Apr-29 6-Apr-30 6-Apr-31 6-Apr-32 6-Apr-33 6-Apr-34 6-Apr-35
End Date 5-Apr-29 5-Apr-30 5-Apr-31 5-Apr-32 5-Apr-33 5-Apr-34 5-Apr-35 5-Apr-36
No. of days in period 365.00 365.00 365.00 366.00 365.00 365.00 365.00 366.00
Period number 14.00 15.00 16.00 17.00 18.00 19.00 20.00 21.00
Contract Year number 15.00 16.00 17.00 18.00 19.00 20.00 21.00 22.00
No. of months in period 12.00 12.00 12.00 12.00 12.00 12.00 12.00 12.00

Start Date 1-Feb-29 1-Feb-30 1-Feb-31 1-Feb-32 1-Feb-33 1-Feb-34 1-Feb-35 1-Feb-36
End Date 31-Jan-30 31-Jan-31 31-Jan-32 31-Jan-33 31-Jan-34 31-Jan-35 31-Jan-36 31-Jan-37
Period number 15.00 16.00 17.00 18.00 19.00 20.00 21.00 22.00
Financial Year number 16.00 17.00 18.00 19.00 20.00 21.00 22.00 23.00

Operating Revenue (excluding fuel cost) 4,853.44 4,957.20 5,118.73 5,287.62 5,462.81 6,141.74 6,337.83 6,544.17
Payments for fuel 7,640.70 8,010.41 8,399.28 8,832.19 9,278.34 9,716.17 10,183.75 10,705.92
Operating Costs 1,293.12 1,358.81 1,426.34 1,500.26 1,571.69 1,649.87 1,733.59 1,823.44
Cost of fuel 7,629.81 8,007.06 8,403.94 8,845.15 9,287.99 9,740.13 10,220.68 10,755.56
Operating Profit 3,571.20 3,601.75 3,687.73 3,774.40 3,881.47 4,467.92 4,567.31 4,671.09

Interest income 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Interest on working capital, finance charges 76.52 73.43 75.02 77.12 79.30 85.72 92.24 94.76

Interest on term debt (Senior and Subordinated) 21.57 7.38 0.00 0.00 0.00 0.00 0.00 0.00
Depreciation 642.83 650.67 658.89 667.53 676.60 686.12 696.11 618.43
Profit Before Tax 2,830.29 2,870.28 2,953.82 3,029.76 3,125.57 3,696.08 3,778.95 3,957.90

Tax paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Deferred tax 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Profit After Tax 2,830.29 2,870.28 2,953.82 3,029.76 3,125.57 3,696.08 3,778.95 3,957.90

Dividends 2,830.29 2,870.28 2,953.82 3,029.76 3,125.57 3,696.08 3,778.95 3,957.90

Transferred to Balance Sheet 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Figures in US$ millions

Operating Revenue $69.33 $70.82 $73.12 $75.54 $78.04 $87.74 $90.54 $93.49
Recovery of fuel cost $109.15 $114.43 $119.99 $126.17 $132.55 $138.80 $145.48 $152.94
Operating Costs $18.47 $19.41 $20.38 $21.43 $22.45 $23.57 $24.77 $26.05
Cost of fuel $109.00 $114.39 $120.06 $126.36 $132.69 $139.14 $146.01 $153.65
Operating Profit $51.02 $51.45 $52.68 $53.92 $55.45 $63.83 $65.25 $66.73

Interest income $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Interest on working capital, finance charges $1.09 $1.05 $1.07 $1.10 $1.13 $1.22 $1.32 $1.35

405584025.xls: Profit and Loss Page: 17

 All figures in millions Taka unless mentioned
Profit and Loss otherwise

Start Date 6-Apr-28 6-Apr-29 6-Apr-30 6-Apr-31 6-Apr-32 6-Apr-33 6-Apr-34 6-Apr-35
End Date 5-Apr-29 5-Apr-30 5-Apr-31 5-Apr-32 5-Apr-33 5-Apr-34 5-Apr-35 5-Apr-36
No. of days in period 365.00 365.00 365.00 366.00 365.00 365.00 365.00 366.00
Period number 14.00 15.00 16.00 17.00 18.00 19.00 20.00 21.00
Contract Year number 15.00 16.00 17.00 18.00 19.00 20.00 21.00 22.00
No. of months in period 12.00 12.00 12.00 12.00 12.00 12.00 12.00 12.00

Start Date 1-Feb-29 1-Feb-30 1-Feb-31 1-Feb-32 1-Feb-33 1-Feb-34 1-Feb-35 1-Feb-36
End Date 31-Jan-30 31-Jan-31 31-Jan-32 31-Jan-33 31-Jan-34 31-Jan-35 31-Jan-36 31-Jan-37
Period number 15.00 16.00 17.00 18.00 19.00 20.00 21.00 22.00
Financial Year number 16.00 17.00 18.00 19.00 20.00 21.00 22.00 23.00

Interest on term debt (Senior and Subordinated) $0.31 $0.11 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Depreciation $9.18 $9.30 $9.41 $9.54 $9.67 $9.80 $9.94 $8.83
Profit Before Tax $40.43 $41.00 $42.20 $43.28 $44.65 $52.80 $53.99 $56.54

Tax paid $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Deferred tax $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Profit After Tax $40.43 $41.00 $42.20 $43.28 $44.65 $52.80 $53.99 $56.54

Dividends $40.43 $41.00 $42.20 $43.28 $44.65 $52.80 $53.99 $56.54

Transferred to Balance Sheet $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

405584025.xls: Profit and Loss Page: 18

 All figures in millions Taka unless
Cash Flow mentioned otherwise

Start Date 1-Feb-13 1-May-13 1-Aug-13 1-Nov-13 1-Feb-14 6-Apr-14 6-Apr-15 6-Apr-16
End Date 30-Apr-13 31-Jul-13 31-Oct-13 31-Jan-14 5-Apr-14 5-Apr-15 5-Apr-16 5-Apr-17
No. of days in period 89.00 92.00 92.00 92.00 64.00 365.00 366.00 365.00
Period number -5.00 -4.00 -3.00 -2.00 -1.00 0.00 1.00 2.00
Contract Year number 0.00 0.00 0.00 0.00 0.00 1.00 2.00 3.00
No. of months in period 3.00 3.00 3.00 3.00 2.10 12.00 12.00 12.00

Start Date 1-Feb-13 1-May-13 1-Aug-13 1-Nov-13 1-Feb-14 1-Feb-15 1-Feb-16 1-Feb-17
End Date 30-Apr-13 31-Jul-13 31-Oct-13 31-Jan-14 31-Jan-15 31-Jan-16 31-Jan-17 31-Jan-18
Period number -4.00 -3.00 -2.00 -1.00 0.00 1.00 2.00 3.00
Financial Year number 0.00 0.00 0.00 0.00 1.00 2.00 3.00 4.00

Operating Profit 61.79 210.03 211.23 212.44 149.84 2,645.04 2,660.18 2,762.62
Interest income 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Change in working capital 43.14 106.12 0.92 0.92 1.11 296.12 6.34 19.18
Change in working capital funded by working capital facility 43.14 106.12 0.92 0.92 1.11 296.12 6.34 19.18
Income tax paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash utilised for Major Maintenance expenditure 0.00 0.00 0.00 0.00 0.00 0.00 43.23 45.39
Transfer to the MMRA 0.00 0.00 0.00 0.00 0.00 100.82 60.25 60.82
Interest on working capital, finance charges 0.83 2.69 4.03 3.99 4.72 41.86 62.71 64.14
Surplus cash from operations 60.96 207.34 207.20 208.45 145.12 2,502.36 2,493.99 2,592.27

Capital expenditure 2,803.49 3,276.55 1,522.45 1,389.06 2,048.59 0.00 0.00 0.00
Draw down of shareholder funds 841.05 982.96 456.73 416.72 614.58 0.00 0.00 0.00
Draw down of Subordinated term debt 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Draw down of Senior term debt 1,962.18 2,293.28 1,065.57 972.21 1,433.82 0.00 0.00 0.00
Surplus cash available for debt service 60.70 207.04 207.06 208.32 144.93 2,502.36 2,493.99 2,592.27

Interest on Senior term debt 25.66 33.64 40.04 44.05 34.10 581.13 563.89 541.54
Interest on Subordinated term debt 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment of Senior term debt 0.00 0.00 0.00 0.00 0.00 681.72 847.36 921.23
Repayment of Subordinated term debt 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Surplus cash after debt service 35.04 173.39 167.02 164.27 110.83 1,239.51 1,082.74 1,129.49
Transfer to the DSRA 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Surplus cash after DSRA 35.04 173.39 167.02 164.27 110.83 1,239.51 1,082.74 1,129.49
Drawdown of short term debt 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment of short term debt 1.09 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Surplus cash available for distribution 33.95 173.39 167.02 164.27 110.83 1,239.51 1,082.74 1,129.49
Dividends 0.00 0.00 0.00 0.00 0.00 1,436.90 1,447.79 1,216.51
Change in cash 33.95 173.39 167.02 164.27 110.83 -197.40 -365.05 -87.02

Opening Cash (Orig) 0.00 33.95 207.34 374.36 538.63 649.46 452.07 87.02

Closing Cash 33.95 207.34 374.36 538.63 649.46 452.07 87.02 0.00

405584025.xls: Cash Flow Page: 19

 All figures in millions Taka unless
Cash Flow mentioned otherwise

Start Date 1-Feb-13 1-May-13 1-Aug-13 1-Nov-13 1-Feb-14 6-Apr-14 6-Apr-15 6-Apr-16
End Date 30-Apr-13 31-Jul-13 31-Oct-13 31-Jan-14 5-Apr-14 5-Apr-15 5-Apr-16 5-Apr-17
No. of days in period 89.00 92.00 92.00 92.00 64.00 365.00 366.00 365.00
Period number -5.00 -4.00 -3.00 -2.00 -1.00 0.00 1.00 2.00
Contract Year number 0.00 0.00 0.00 0.00 0.00 1.00 2.00 3.00
No. of months in period 3.00 3.00 3.00 3.00 2.10 12.00 12.00 12.00

Start Date 1-Feb-13 1-May-13 1-Aug-13 1-Nov-13 1-Feb-14 1-Feb-15 1-Feb-16 1-Feb-17
End Date 30-Apr-13 31-Jul-13 31-Oct-13 31-Jan-14 31-Jan-15 31-Jan-16 31-Jan-17 31-Jan-18
Period number -4.00 -3.00 -2.00 -1.00 0.00 1.00 2.00 3.00
Financial Year number 0.00 0.00 0.00 0.00 1.00 2.00 3.00 4.00

DSRA
Transfer to/(from) DSRA 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
DSRA balance 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
DSRA required 88.09 88.09 88.09 68.19 910.34 910.34 910.34 910.34
Cost of LC in lieu of DSRA 0.29 0.29 0.29 0.22 2.07 11.83 11.83 11.83

DSRA Funded as Project Cost $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
DSRA Funded as Project Cost Copy $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
MMRA
Scheduled Major Maintenance Cost (US$ million 100% Fixed
and Foreign)
Scheduled (Real
Major CY basis) Cost (US$ million 100% Fixed
Maintenance $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.48 $0.48
and Foreign) (Nominal CY basis) $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.54 $0.56
MMRA
Opening $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.30 $2.06
Addition (i.e provisioned in P&L) $0.00 $0.00 $0.00 $0.00 $0.00 $1.30 $1.30 $1.30
Draw down (i.e. utilised for expenditure) $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.54 $0.56
MMRA a/c balance $0.00 $0.00 $0.00 $0.00 $0.00 $1.30 $2.06 $2.80
Cost of LC in lieu of MMRA $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

Cash available for debt service 60.70 207.04 207.06 208.32 144.93 2,502.36 2,493.99 2,592.27
DSCR
Total Debt service 25.66 33.64 40.04 44.05 34.10 1,262.85 1,411.25 1,462.77
Total DSCR 1.98 1.77 1.77
Start/End of Total debt service 10.00

Senior Debt service 25.66 33.64 40.04 44.05 34.10 1,262.85 1,411.25 1,462.77
Senior Debt DSCR 1.98 1.77 1.77
Start/End of Senior debt service 10.00

LLCR
NPV of Cash available for debt service 47,840.21 47,633.18 47,426.12 47,217.79 47,072.87 44,570.51 42,076.52 39,484.25
LLCR - Total Debt 5.97 4.59 4.12 3.76 3.35 3.25 3.18 3.12
LLCR - Senior Debt 5.97 4.59 4.12 3.76 3.35 3.25 3.18 3.12

405584025.xls: Cash Flow Page: 20

 All figures in millions Taka unless
Cash Flow mentioned otherwise

Start Date 6-Apr-17 6-Apr-18 6-Apr-19 6-Apr-20 6-Apr-21 6-Apr-22 6-Apr-23 6-Apr-24 6-Apr-25
End Date 5-Apr-18 5-Apr-19 5-Apr-20 5-Apr-21 5-Apr-22 5-Apr-23 5-Apr-24 5-Apr-25 5-Apr-26
No. of days in period 365.00 365.00 366.00 365.00 365.00 365.00 366.00 365.00 365.00
Period number 3.00 4.00 5.00 6.00 7.00 8.00 9.00 10.00 11.00
Contract Year number 4.00 5.00 6.00 7.00 8.00 9.00 10.00 11.00 12.00
No. of months in period 12.00 12.00 12.00 12.00 12.00 12.00 12.00 12.00 12.00

Start Date 1-Feb-18 1-Feb-19 1-Feb-20 1-Feb-21 1-Feb-22 1-Feb-23 1-Feb-24 1-Feb-25 1-Feb-26
End Date 31-Jan-19 31-Jan-20 31-Jan-21 31-Jan-22 31-Jan-23 31-Jan-24 31-Jan-25 31-Jan-26 31-Jan-27
Period number 4.00 5.00 6.00 7.00 8.00 9.00 10.00 11.00 12.00
Financial Year number 5.00 6.00 7.00 8.00 9.00 10.00 11.00 12.00 13.00

Operating Profit 2,828.94 2,899.14 2,970.69 3,057.18 3,149.07 3,193.37 3,348.61 3,361.91 3,428.23
Interest income 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Change in working capital 13.02 13.64 13.96 15.06 17.63 9.61 28.18 4.55 13.51
Change in working capital funded by working capital facility 13.02 13.64 13.96 15.06 17.63 9.61 28.18 4.55 13.51
Income tax paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash utilised for Major Maintenance expenditure 178.73 50.04 52.55 413.80 57.93 60.83 243.51 67.06 70.42
Transfer to the MMRA -69.71 61.85 62.30 -241.52 118.90 120.67 -57.22 124.14 125.83
Interest on working capital, finance charges 65.90 67.40 68.94 70.56 72.36 73.90 75.97 77.80 78.89
Surplus cash from operations 2,654.02 2,719.85 2,786.90 2,814.34 2,899.88 2,937.97 3,086.35 3,092.91 3,153.09

Capital expenditure 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Draw down of shareholder funds 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Draw down of Subordinated term debt 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Draw down of Senior term debt 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Surplus cash available for debt service 2,654.02 2,719.85 2,786.90 2,814.34 2,899.88 2,937.97 3,086.35 3,092.91 3,153.09

Interest on Senior term debt 516.43 489.00 458.51 425.03 388.15 347.39 302.82 252.08 195.51
Interest on Subordinated term debt 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment of Senior term debt 945.55 997.64 1,051.82 1,096.73 1,166.75 1,227.66 1,290.97 1,451.94 1,490.26
Repayment of Subordinated term debt 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Surplus cash after debt service 1,192.05 1,233.22 1,276.58 1,292.58 1,344.98 1,362.92 1,492.56 1,388.90 1,467.32
Transfer to the DSRA 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Surplus cash after DSRA 1,192.05 1,233.22 1,276.58 1,292.58 1,344.98 1,362.92 1,492.56 1,388.90 1,467.32
Drawdown of short term debt 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment of short term debt 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Surplus cash available for distribution 1,192.05 1,233.22 1,276.58 1,292.58 1,344.98 1,362.92 1,492.56 1,388.90 1,467.32
Dividends 1,192.05 1,233.22 1,276.58 1,292.58 1,344.98 1,362.92 1,492.56 1,388.90 1,467.32
Change in cash 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Opening Cash (Orig) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Closing Cash 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

405584025.xls: Cash Flow Page: 21

 All figures in millions Taka unless
Cash Flow mentioned otherwise

Start Date 6-Apr-17 6-Apr-18 6-Apr-19 6-Apr-20 6-Apr-21 6-Apr-22 6-Apr-23 6-Apr-24 6-Apr-25
End Date 5-Apr-18 5-Apr-19 5-Apr-20 5-Apr-21 5-Apr-22 5-Apr-23 5-Apr-24 5-Apr-25 5-Apr-26
No. of days in period 365.00 365.00 366.00 365.00 365.00 365.00 366.00 365.00 365.00
Period number 3.00 4.00 5.00 6.00 7.00 8.00 9.00 10.00 11.00
Contract Year number 4.00 5.00 6.00 7.00 8.00 9.00 10.00 11.00 12.00
No. of months in period 12.00 12.00 12.00 12.00 12.00 12.00 12.00 12.00 12.00

Start Date 1-Feb-18 1-Feb-19 1-Feb-20 1-Feb-21 1-Feb-22 1-Feb-23 1-Feb-24 1-Feb-25 1-Feb-26
End Date 31-Jan-19 31-Jan-20 31-Jan-21 31-Jan-22 31-Jan-23 31-Jan-24 31-Jan-25 31-Jan-26 31-Jan-27
Period number 4.00 5.00 6.00 7.00 8.00 9.00 10.00 11.00 12.00
Financial Year number 5.00 6.00 7.00 8.00 9.00 10.00 11.00 12.00 13.00

DSRA
Transfer to/(from) DSRA 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
DSRA balance 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
DSRA required 910.34 910.34 910.34 910.34 910.34 910.34 910.34 910.34 910.34
Cost of LC in lieu of DSRA 11.83 11.83 11.83 11.83 11.83 11.83 11.83 11.83 11.83

DSRA Funded as Project Cost $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
DSRA Funded as Project Cost Copy $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
MMRA
Scheduled Major Maintenance Cost (US$ million 100% Fixed
and Foreign)
Scheduled (Real
Major CY basis) Cost (US$ million 100% Fixed
Maintenance $1.80 $0.48 $0.48 $3.60 $0.48 $0.48 $1.83 $0.48 $0.48
and Foreign) (Nominal CY basis) $2.13 $0.58 $0.59 $4.56 $0.62 $0.64 $2.48 $0.67 $0.68
MMRA
Opening $2.80 $1.97 $2.69 $3.39 $0.73 $2.01 $3.27 $2.69 $3.92
Addition (i.e provisioned in P&L) $1.30 $1.30 $1.30 $1.90 $1.90 $1.90 $1.90 $1.90 $1.90
Draw down (i.e. utilised for expenditure) $2.13 $0.58 $0.59 $4.56 $0.62 $0.64 $2.48 $0.67 $0.68
MMRA a/c balance $1.97 $2.69 $3.39 $0.73 $2.01 $3.27 $2.69 $3.92 $5.14
Cost of LC in lieu of MMRA $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

Cash available for debt service 2,654.02 2,719.85 2,786.90 2,814.34 2,899.88 2,937.97 3,086.35 3,092.91 3,153.09
DSCR
Total Debt service 1,461.97 1,486.63 1,510.32 1,521.76 1,554.90 1,575.05 1,593.79 1,704.02 1,685.77
Total DSCR 1.82 1.83 1.85 1.85 1.86 1.87 1.94 1.82 1.87
Start/End of Total debt service

Senior Debt service 1,461.97 1,486.63 1,510.32 1,521.76 1,554.90 1,575.05 1,593.79 1,704.02 1,685.77
Senior Debt DSCR 1.82 1.83 1.85 1.85 1.86 1.87 1.94 1.82 1.87
Start/End of Senior debt service

LLCR
NPV of Cash available for debt service 36,830.23 34,110.37 31,323.47 28,509.13 25,609.25 22,671.28 19,584.93 16,492.02 13,338.92
LLCR - Total Debt 3.06 3.01 2.96 2.93 2.91 2.91 2.92 3.05 3.30
LLCR - Senior Debt 3.06 3.01 2.96 2.93 2.91 2.91 2.92 3.05 3.30

405584025.xls: Cash Flow Page: 22

 All figures in millions Taka unless
Cash Flow mentioned otherwise

Start Date 6-Apr-26 6-Apr-27 6-Apr-28 6-Apr-29 6-Apr-30 6-Apr-31 6-Apr-32 6-Apr-33 6-Apr-34
End Date 5-Apr-27 5-Apr-28 5-Apr-29 5-Apr-30 5-Apr-31 5-Apr-32 5-Apr-33 5-Apr-34 5-Apr-35
No. of days in period 365.00 366.00 365.00 365.00 365.00 366.00 365.00 365.00 365.00
Period number 12.00 13.00 14.00 15.00 16.00 17.00 18.00 19.00 20.00
Contract Year number 13.00 14.00 15.00 16.00 17.00 18.00 19.00 20.00 21.00
No. of months in period 12.00 12.00 12.00 12.00 12.00 12.00 12.00 12.00 12.00

Start Date 1-Feb-27 1-Feb-28 1-Feb-29 1-Feb-30 1-Feb-31 1-Feb-32 1-Feb-33 1-Feb-34 1-Feb-35
End Date 31-Jan-28 31-Jan-29 31-Jan-30 31-Jan-31 31-Jan-32 31-Jan-33 31-Jan-34 31-Jan-35 31-Jan-36
Period number 13.00 14.00 15.00 16.00 17.00 18.00 19.00 20.00 21.00
Financial Year number 14.00 15.00 16.00 17.00 18.00 19.00 20.00 21.00 22.00

Operating Profit 3,529.69 3,780.08 3,571.20 3,601.75 3,687.73 3,774.40 3,881.47 4,467.92 4,567.31
Interest income 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Change in working capital 17.97 45.20 -18.89 9.08 18.48 18.91 20.27 103.38 22.22
Change in working capital funded by working capital facility 17.97 45.20 -18.89 9.08 18.48 18.91 20.27 103.38 22.22
Income tax paid 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash utilised for Major Maintenance expenditure 269.57 242.61 254.74 267.48 280.85 294.89 309.64 325.12 341.38
Transfer to the MMRA -68.14 -35.86 -42.54 -49.67 -57.30 -65.44 -74.13 -83.40 -93.27
Interest on working capital, finance charges 80.66 75.02 76.52 73.43 75.02 77.12 79.30 85.72 92.24
Surplus cash from operations 3,247.60 3,498.32 3,282.48 3,310.52 3,389.16 3,467.83 3,566.66 4,140.47 4,226.96

Capital expenditure 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Draw down of shareholder funds 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Draw down of Subordinated term debt 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Draw down of Senior term debt 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Surplus cash available for debt service 3,247.60 3,498.32 3,282.48 3,310.52 3,389.16 3,467.83 3,566.66 4,140.47 4,226.96

Interest on Senior term debt 134.28 65.49 21.57 7.38 0.00 0.00 0.00 0.00 0.00
Interest on Subordinated term debt 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment of Senior term debt 1,596.43 1,755.19 414.32 425.25 0.00 0.00 0.00 0.00 0.00
Repayment of Subordinated term debt 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Surplus cash after debt service 1,516.90 1,677.64 2,846.60 2,877.89 3,389.16 3,467.83 3,566.66 4,140.47 4,226.96
Transfer to the DSRA 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Surplus cash after DSRA 1,516.90 1,677.64 2,846.60 2,877.89 3,389.16 3,467.83 3,566.66 4,140.47 4,226.96
Drawdown of short term debt 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Repayment of short term debt 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Surplus cash available for distribution 1,516.90 1,677.64 2,846.60 2,877.89 3,389.16 3,467.83 3,566.66 4,140.47 4,226.96
Dividends 1,516.90 1,677.64 2,830.29 2,870.28 2,953.82 3,029.76 3,125.57 3,696.08 3,778.95
Change in cash 0.00 0.00 16.32 7.61 435.34 438.08 441.09 444.39 448.01

Opening Cash (Orig) 0.00 0.00 0.00 16.32 23.93 459.27 897.35 1,338.44 1,782.83

Closing Cash 0.00 0.00 16.32 23.93 459.27 897.35 1,338.44 1,782.83 2,230.84

405584025.xls: Cash Flow Page: 23

 All figures in millions Taka unless
Cash Flow mentioned otherwise

Start Date 6-Apr-26 6-Apr-27 6-Apr-28 6-Apr-29 6-Apr-30 6-Apr-31 6-Apr-32 6-Apr-33 6-Apr-34
End Date 5-Apr-27 5-Apr-28 5-Apr-29 5-Apr-30 5-Apr-31 5-Apr-32 5-Apr-33 5-Apr-34 5-Apr-35
No. of days in period 365.00 366.00 365.00 365.00 365.00 366.00 365.00 365.00 365.00
Period number 12.00 13.00 14.00 15.00 16.00 17.00 18.00 19.00 20.00
Contract Year number 13.00 14.00 15.00 16.00 17.00 18.00 19.00 20.00 21.00
No. of months in period 12.00 12.00 12.00 12.00 12.00 12.00 12.00 12.00 12.00

Start Date 1-Feb-27 1-Feb-28 1-Feb-29 1-Feb-30 1-Feb-31 1-Feb-32 1-Feb-33 1-Feb-34 1-Feb-35
End Date 31-Jan-28 31-Jan-29 31-Jan-30 31-Jan-31 31-Jan-32 31-Jan-33 31-Jan-34 31-Jan-35 31-Jan-36
Period number 13.00 14.00 15.00 16.00 17.00 18.00 19.00 20.00 21.00
Financial Year number 14.00 15.00 16.00 17.00 18.00 19.00 20.00 21.00 22.00

DSRA
Transfer to/(from) DSRA 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
DSRA balance 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
DSRA required 910.34 217.94 216.31 0.00 0.00 0.00 0.00 0.00 0.00
Cost of LC in lieu of DSRA 11.83 2.83 2.81 0.00 0.00 0.00 0.00 0.00 0.00

DSRA Funded as Project Cost $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
DSRA Funded as Project Cost Copy $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
MMRA
Scheduled Major Maintenance Cost (US$ million 100% Fixed
and Foreign)
Scheduled (Real
Major CY basis) Cost (US$ million 100% Fixed
Maintenance $1.75 $1.50 $1.50 $1.50 $1.50 $1.50 $1.50 $1.50 $1.50
and Foreign) (Nominal CY basis) $2.54 $2.23 $2.28 $2.33 $2.39 $2.44 $2.50 $2.56 $2.61
MMRA
Opening $5.14 $4.50 $4.17 $3.79 $3.35 $2.87 $2.32 $1.73 $1.07
Addition (i.e provisioned in P&L) $1.90 $1.90 $1.90 $1.90 $1.90 $1.90 $1.90 $1.90 $1.90
Draw down (i.e. utilised for expenditure) $2.54 $2.23 $2.28 $2.33 $2.39 $2.44 $2.50 $2.56 $2.61
MMRA a/c balance $4.50 $4.17 $3.79 $3.35 $2.87 $2.32 $1.73 $1.07 $0.36
Cost of LC in lieu of MMRA $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00

Cash available for debt service 3,247.60 3,498.32 3,282.48 3,310.52 3,389.16 3,467.83 3,566.66 4,140.47 4,226.96
DSCR
Total Debt service 1,730.70 1,820.69 435.88 432.63 0.00 0.00 0.00 0.00 0.00
Total DSCR 1.88 1.92 7.53 7.65
Start/End of Total debt service 30.00

Senior Debt service 1,730.70 1,820.69 435.88 432.63 0.00 0.00 0.00 0.00 0.00
Senior Debt DSCR 1.88 1.92 7.53 7.65
Start/End of Senior debt service 30.00

LLCR
NPV of Cash available for debt service 10,091.32 6,593.00 3,310.52 0.00 0.00 0.00 0.00 0.00 0.00
LLCR - Total Debt 3.99 8.06 7.89
LLCR - Senior Debt 3.99 8.06 7.89

405584025.xls: Cash Flow Page: 24

 All figures in millions Taka unless
Cash Flow mentioned otherwise

Start Date 6-Apr-35

End Date 5-Apr-36
No. of days in period 366.00
Period number 21.00
Contract Year number 22.00
No. of months in period 12.00

Start Date 1-Feb-36

End Date 31-Jan-37
Period number 22.00
Financial Year number 23.00

Operating Profit 4,671.09

Interest income 0.00
Change in working capital 23.16
Change in working capital funded by working capital facility 23.16
Income tax paid 0.00
Cash utilised for Major Maintenance expenditure 302.34
Transfer to the MMRA -47.69
Interest on working capital, finance charges 94.76
Surplus cash from operations 4,321.68

Capital expenditure 0.00

Draw down of shareholder funds 0.00
Draw down of Subordinated term debt 0.00
Draw down of Senior term debt 0.00
Surplus cash available for debt service 4,321.68

Interest on Senior term debt 0.00

Interest on Subordinated term debt 0.00
Repayment of Senior term debt 0.00
Repayment of Subordinated term debt 0.00
Surplus cash after debt service 4,321.68
Transfer to the DSRA 0.00
Surplus cash after DSRA 4,321.68
Drawdown of short term debt 0.00
Repayment of short term debt 0.00
Surplus cash available for distribution 4,321.68
Dividends 3,957.90
Change in cash 363.78

Opening Cash (Orig) 2,230.84

Closing Cash 2,594.62

405584025.xls: Cash Flow Page: 25

 All figures in millions Taka unless
Cash Flow mentioned otherwise

Start Date 6-Apr-35

End Date 5-Apr-36
No. of days in period 366.00
Period number 21.00
Contract Year number 22.00
No. of months in period 12.00

Start Date 1-Feb-36

End Date 31-Jan-37
Period number 22.00
Financial Year number 23.00

DSRA
Transfer to/(from) DSRA 0.00
DSRA balance 0.00
DSRA required 0.00
Cost of LC in lieu of DSRA 0.00

DSRA Funded as Project Cost $0.00

DSRA Funded as Project Cost Copy $0.00
MMRA
Scheduled Major Maintenance Cost (US$ million 100% Fixed
and Foreign)
Scheduled (Real
Major CY basis) Cost (US$ million 100% Fixed
Maintenance $1.50
and Foreign) (Nominal CY basis) $2.67
MMRA
Opening $0.36
Addition (i.e provisioned in P&L) $1.90
Draw down (i.e. utilised for expenditure) $2.26
MMRA a/c balance $0.00
Cost of LC in lieu of MMRA $0.00

Cash available for debt service 4,321.68

DSCR
Total Debt service 0.00
Total DSCR
Start/End of Total debt service

Senior Debt service 0.00

Senior Debt DSCR
Start/End of Senior debt service

LLCR
NPV of Cash available for debt service 0.00
LLCR - Total Debt
LLCR - Senior Debt

405584025.xls: Cash Flow Page: 26

Ratio Analysis

Other Ratios
Liquidity Ratios: Min Avg
Current Ratio = Current Assets/Current Liabilities 4.86 6.99
Quick Ratio = Current Assets – Inventory/ Current Liabilities 4.86 6.99

Profitability Ratios: Min Avg

Gross Profit to sales = Gross profit/Sales 0.17 0.25
Net Profit to sales= Net profit after tax/Sales 0.20 0.22
Return on Asset=Net profit after tax/ total assets 7.00% 11.73%
Return on Equity=Net profit after tax/total equity 17.88% 21.01%
EBIT/Total Asset=EBIT/total Asset 0.10 0.14

Debt Management Ratios: Min Avg

Total Liability to Equity Ratio = Total Liabilities / Total Equity 1.05 2.01
Times financial expense coverage = net operating profit/ financial expenses 4.25 12.82

Asset Utilization ratios: Min Avg

Asset Turnover = Net sales/ total assets 0.15 0.21
Account Receivable turnover = 365*Accounts receivable/Net Sales 60.83 60.83

Payback period 6.79

405584025.xls: Ratio Analysis Page: 27