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eeef Annual Report 2014

eeef’s Business Proposal How to qualify for eeef funding The final beneficiaries of eeef are municipal, local, regional authorities or public and priva- te entities acting on behalf of those authorities such as utilities, public transportation provi- ders, social housing associations, energy service companies (ESCOs) etc. Funding can be provided in Euro, and in certain cases also in local curren- cies. The general eligibility criteria are: • Municipal link • Commitment of the municipality to mitigate climate change (e.g. via Covenant of Mayors Initiative) • Primary energy savings and CO2 e emission savings of at least 20% • Investment tickets for eeef should preferably be between € 5.0m to € 25.0m • Alignment with relevant EU legislation • Use of proven technologies and each technolo- gy may have its own specific eligibility criteria Investment Process • Initial screening of project in line with eeef’s eligibility criteria for investments • Portfolio fit assessment • If the initial screening is positive, detailed DD to be initiated • Further project details required (financial model, comprehensive project description/ investment memo, technical details etc.) DB conducts financial, technical and legal review: • Financial evaluation • Technical and legal evaluation • Environmental evaluation (vali- dation of required CO2 e savings for potential projects) DB prepares an investment proposal based on the due diligence for presentation to eeef’s Investment Committee and Management Board • Negotiation of legal documentation • Financial closing • Disbursement of funds 6 months INITIAL SCREENING DECISION TO START DETAILED DUE DILIGENCE (DD) DEUTSCHE BANK (DB) DUE DILIGENCE PRESENTATION TO THE GOVERNING BODIES INVESTMENT COMMI- TTEE/MANAGEMENT BOARD APPROVAL PREPARATION OF FINANCIAL CLOSING 12 eeef Annual Report 2014