Cimb Climate Change Equity Fund

The world’s climate is changing … it’s real  Heat waves and periods of unusually warm weather  Ocean warming, sea-level rising and coastal flooding  Arctic and Antarctic warming, glaciers melting  Increasingly random and extreme nature of weather (hurricanes, flooding, droughts, tsunamis)

2

For Internal Circulation Only

The heat is on …. Ice cores

ppm

Current

Projections

CO2 Composition in the atmosphere Historical data

Current data

Projections

Source: Intergovernmental Panel on Climate Change

There is concern that it could rise from 381 ppm (2005) to over 1,000 ppm (2100)

Changes in temperature in °C (compared with 1990 reference period)

Temperature Increases Source: Intergovernmental Panel on Climate Change

Temperature could rise by over 6°C

Parts per million ("ppm") denotes one particle of a given substance for every 999,999 other particles. 3

For Internal Circulation Only

Impact of temperature increases …..

4

For Internal Circulation Only

World is concerned- people’s opinions Is global warming a threat?

Source: Deutsche Asset Management For Internal Circulation Only

5

The world needs to act on climate change • According to Sir Nicholas Stern*, overall cost of global warming may be equivalent to losing 5% of global GDP annually* (approx. €2.000 bn) • Proceeding without action to reduce emissions could increase costs up to 20% of global GDP annually!!!** • Cost of action in reducing greenhouse emissions to avoid the worst impact is limited to only 1% per year of global GDP (Investment phase of 10-20 years)*** • This will lead to potential market sales exceeding several 100bn US$ The world needs to create a low-carbon economy. * Stern Review on the Economics of Climate Change from 30th October, 2006 ** Stern report *** World GDP was approx. €37 trillion in 2006, Source: World Economic Indicators (IMF) **** Center of Defense Information

6

For Internal Circulation Only

Milestones in climate policy 1988

UNEP and WMO establish the IPCC

1992

UN convention on climate change

1995

2nd IPCC report stresses anthropogenic effect

1997

Kyoto Protocol passed

2001

USA refuses to ratify Kyoto Protocol

2004

Russia ratifies Kyoto Protocol

2005

1st meeting of Kyoto Protocol participants

2006

Stern calculates costs of climate change

2007

4th IPCC Report emphasizes the threat

7

For Internal Circulation Only

Political support & political will growing Political and social awareness at all time high ■ Kyoto Protocol is covering 163 countries. Countries actively working to meet the emissions standards set for 2008 – 2012 timeframe. ■ Countries globally moving to reduce their carbon footprint e.g. European emissions limits. ■ U.S. States like California taking initiative to set standards in absence of Federal legislation …This is only a taste of things to come Climate Change is now at the forefront of all political campaigns and debates the realisation that we need to act now has come 8

For Internal Circulation Only

Effects on companies Climate change Direct effects

•

Losses due to natural events (insurance companies, tourism)

•

Change in the climate (agriculture)

•

Extreme weather events (forestry, hydroelectric power)

Indirect effects

•

Regulatory & government intervention in volumes and pricing - Power utilities - Automotive industry - Transportation - Manufacturing industry (partic. chemicals, steel, cement)

9

For Internal Circulation Only

Investment opportunity: look at who’s who in emissions Other energy related 5%

Increase in composition since pre-industrial age:

Industry 14%

Power 24%

Waste 3% Agriculture 14% Land use 18%

Transport 14% Buildings 8%

• • •

Carbon dioxide – 30% Methane – 150% Nitrous oxide – 17%

Global energy consumption will increase dramatically 60% of greenhouse gas emissions are from fossil energies 75% of greenhouse gas emissions are from OECD countries Source: World Resources Institute (2006) For Internal Circulation Only

10

Key investment themes in climate change Climate change

Mitigation Protecting the climate by Reducing greenhouse gases

Cleaner Technologies

EnergyEfficiency

Adaptation Protection against consequences by Reducing economic, social susceptibility Environmental Management/ Damage Limitation

11

For Internal Circulation Only

CIMB-Principal Climate Change Equity Fund

CIMB-Principal Climate Change Equity Fund

Climate Change focuses on companies that:

are in the process of finding ways to support the reduction of environmental pollution have growth supported by environmental regulations help to reduce or manage climate risk help to increase energy efficiency help to address non-reversible changes

Fund focus will be on companies which have profitable business models based upon climate changes or are in the process forefront of finding and/ or implementing friendly environmental solutions Source: Deutsche Asset Management For Internal Circulation Only

13

Fund Objective & Investment Focus The objective of the Fund is to feed into the DWS Global Climate Change Fund which aims to achieve an above average appreciation of capital invested in euros. Investment focus on companies that deal with:

Reduction of CO2 emissions – to reduce greenhouse effect. Energy –solar, wind, bio, fuel cells, hydro, geothermal and geoenergy Disasters – products/services for monitoring and disaster prevention in vulnerable and costal areas. As well as emergency relief services or support rebuilding efforts.

Efficiency – products that help to make the flow of goods and people more efficient. For example means of transport, reducing fuel consumption and optimizing transport streams. Source: Deutsche Asset Management For Internal Circulation Only

14

CIMB-Principal Climate Change Equity Fund TARGET FUND’S INVESTMENT MANAGER

MANAGER

CIMB-Principal Asset Management

Unitholders

Investment Objective

CIMB Principal Climate Change

:

Deutsche Asset Management 95% of NAV

DWS Invest Climate Change

The objective of the Fund is to feed into the DWS Invest Climate Change Fund which aims to achieve an above average appreciation of capital invested in euros.

NOTE ! The CIMB-Principal Climate Change Equity Fund is not available for Distribution; Subject to Malaysian Securities Commission’s Approval 15

For Internal Circulation Only

Investment Process

Target Fund’s Investment Concept Climate Change Mitigation Protecting the climate by Reducing greenhouse gases Cleaner Technologies „ Lower-emission / Emission efficient power generation (e.g. Verbund) „ Mobility (e.g. Skysails) „ Filter systems (e.g. Johnson Matthey) „ Natural resources (e.g. Rayonier)

Adaptation Protection against consequences by Reducing economic, social susceptibility

EnergyEfficiency „ Facility management (e.g. Johnson Controls) „ Air-conditioning and heating systems (e.g. Emerson Electric) „ Lighting systems (e.g. Aixtron)

Environmental Management/ Damage Limitation „ Waste management (e.g. Covanta) „ Health / Biotechnology (e.g. Diversa) „ Geological services (e.g. Grontmij)

„ Insulation (e.g. Rockwool)

„ Climate Impact Management / Infrastructure (e.g. Boskalis)

„ Consumer electronics (e.g. Philips)

„ Reconstruction (e.g. Chicago Bridge)

„ New materials (e.g. BASF)

Source: Deutsche Asset Management For Internal Circulation Only

17

Cleaner technologies • Companies whose products make significant contributions toward reducing greenhouse-gas emissions • Low-emission / emission efficient power generation: Accounts for 30 percent of global CO2 emissions e.g. Verbund • Mobility: Because around 20 percent of all emissions come from the transportation sector. Improving passenger and freight flows is very important. Also includes things such as new drive systems, lightweight components, fuel cells and hydrogen technology e.g. Skysails • Filter systems: For industrial power generation and in the domestic sector e.g. Johnson Matthey • Natural resources: Exploiting the potential of renewable resources (biomass in general, timber in particular) to produce carbon-neutral materials and energy e.g. Rayonier Source: DeAM 18

For Internal Circulation Only

Energy efficiency • "Factor Four - Doubling Wealth, Halving Resource Use" is the title of a book by Prof. von Weizsäcker. It sounds too good to be true, but it is real. • Companies in this investment area work with techniques and processes that improve the efficiency of energy use. These include the following: • Facility management e.g Johnson Controls • Air-conditioning and heating systems e.g. Emerson Electric • Lighting systems e.g. Aixtron • Insulation e.g. Rockwool • Consumer electronics e.g. Phillips • New materials such as supraconductors e.g BASF

19

For Internal Circulation Only

Environmental management / damage limitation • Measures taken now can no longer stop climate change that is already taking place. Adaptation is the top priority. • Estimates for OECD countries calculate the cost of infrastructure projects for combating its major effects will total about €100 billion in the next 15 to 20 years.* • Companies in this investment area are in the following segments: Waste management e.g. Coventa Health / Biotechnology e.g. Diversa Geological services e.g. Grontmij Disaster protection / infrastructure e.g. Boskalis Reconstruction e.g. Chicago Bridge *Source: Organisation for Economic Cooperation and Development, OECD 20

For Internal Circulation Only

Top 10 holdings of target fund

As of end June 2007 Source: Deutsche Asset Management For Internal Circulation Only

21

Theme & sector allocation (target fund) Theme Allocation

Damage Limitation 20.0%

Sector Allocation Information Technology Consumer 6%

Cash 2.0%

Financials 2%

Energy 1%

Discretionary 8% Materials 9%

Energy Efficiency 18.0%

Clean Technologies 60.0%

Utilities 12%

Industrials 62%

Source: Deutsche Asset Management, End-July 2007 Source: Deutsche Asset Management For Internal Circulation Only

22

Geographic allocation (target fund) Emerging Markets 1.0%

Cash 4.0%

Europe 49.0%

North America 43.0%

Japan 3.0% Source: Deutsche Asset Management; End-July 2007 For Internal Circulation Only

23

Investment manager’s track record 121 118 115

DWS % 11.20

112

Klimawandel

109 106 103

1.81 %

100

MSCI World

DWS Klimawandel

MSCI World

28-Jul-07

28-Jun-07

28-May-07

28-Apr-07

28-Mar-07

28-Feb-07

97

DWS Klimawandel has no benchmark. The MSCI World Index is shown for information purposes only

Note: • DWS Klimawandel (Climate Change) is domiciled in Germany and was launched 28 February 2007 • DWS Invest Climate Change mirrors the investment strategy of DWS Klimawandel • Past performance is no guarantee for future performance * DWS Klimawandel (Climate Change) is domiciled in Germany and was launched 28 February 2007 As of 14 August 2007

For Internal Circulation Only

24

Investment Manager Deutsche Asset Management / DWS Investments • • • •

Europe’s No. 1 fund-award winner* Europe’s No. 3 mutual fund company by AuM** Offers more than 500 funds Ranked “Best Mutual Fund Company” in Germany by S&P for 12 consecutive years since 1995

Nicolas Huber, Director, Senior global equities portfolio manager, Frankfurt • • •

Nicolas Huber has been with DWS since 2002 when he started in the healthcare team. He has been a member of the global equity management team since June 2003. From 1999 to 2002, Nicolas Huber was a senior portfolio manager at Zurich Invest in Frankfurt (Deutsche Bank Group) where he was head of the life sciences / bioscience department. Between 1997 and 1999, he worked as a senior fund manager and director for a major German bank in Hamburg. Prior to 1997, Nicolas Huber was managing director of an independent asset management company in Frankfurt and London. Nicolas Huber successfully manages the DWS Zukunftsressourcen and DWS Invest New Resources funds. He completed his banking training at Berliner Bank in Frankfurt and Berlin and is a licensed stockbroker on the Frankfurt Stock Exchange. He attended a comprehensive investment analysis course and worked for several major US investment houses in Chicago and New York.

Susana Peñarrubia Fraguas, CFA, Vice President, Equity investment manager, Frankfurt •

• •

Susana started her investment career with Dresdner Bank in the fixed income division from 1997-2001. She joined DeAM/DWS in 2001 and was previously head of the European infrastructure group Sasana has been the co-fund manager of the DWS Zukunftsressourcen and the DWS Invest New Resources funds since 1 April 2006. Susana studied economics at Alcalá de Henares/Leeds/Pforzheim/Frankfurt universities. Holds a degree in economics from the University of Alcalá de Henares, Spain. She was named best European buy-side analyst by Institutional Investor magazine in 2005 and 2006 * Total awards based on S&P sector awards for 2005 across Europe excluding institutional funds

-

** Source: FERI Fund Market Information (FERI FMI) as at 30 June 2006. FERI FMI is a mutual fund market analysis and . research publishin company specialising in all aspects of the domestic, Pan European and cross border fund market

places. FERI FMI is a subsidiary company of FERI Rating & Research GmbH one of Europe's leading fund analysis and independent wealth management companies.

For Internal Circulation Only

25

Investment Process

Invest. Universe >1,000 co’s

Market cap. >$100 mil.

Approx. 600 co’s

Established businesses in relevant areas Must have growth potential Narrowing down universe

Alpha pool >300 companies

Fundamental analysis Research input Management visits Conviction analysis Constructing portfolio

Source: Deutsche Asset Management For Internal Circulation Only

26

Investment Process Investment Universe: >1000 Companies Size: Market Cap > 100 Mill. US $ 700 Companies Significant turnover or growth in relevant areas 400 Companies Qualitative Factors Fund (80-120 companies)

Sound and proven management with an established track record in their area, close relationship to management A certain barrier of entry and if not at least a strategic or regional advantage in comparison to peer group Companies with an established market share or at least 25% revenue in investment themes Companies with a unique and promising approach to solutions in our investment universe. If sales is less than 25% sales must be compensated by strong growth potential (justified by niche, high growth products) Margin development, financing, security of intellectual property, cost structure, sales growth, sales units, earnings development Monitoring of over/ undervaluation in regards to our growth assumptions for overall sectors or themes

Source: Deutsche Asset Management Source: Deutsche Asset Management For Internal Circulation Only

27

Results in a Sound Portfolio • With ideal sector exposure, diversification and optimal risk management • Well-positioned individual stocks are selected, based on fundamentals and environmental sector • The investment selection process results in: ÆOptimal exposure in all the existing investment areas of climate-change solutions (using top-down and bottom-up analysis) ÆAchieving the long-term goal of creating assets, coupled with earnings power generated by active management, while still being able to exploit current market sentiment to make short-term, opportunistic investments. This results in the generation of alpha. Source: Deutsche Asset Management For Internal Circulation Only

28

Common questions Is this a Socially Responsible Investment (SRI) fund? • No, this is not a SRI fund with SRI limitations. • We invest in companies that will profit from climate change grouped under ‘mitigation’ and ‘adaptation’. Are there enough companies to choose from? • Over 1000 companies to choose from. What makes this fund so potentially profitable? • We invest in companies with existing products that are already profitable with the demand of climate change. • Companies in the portfolio should have at least 20% market share, e.g. Toyota How about unproven/smaller companies? • If Fund Manager decides to invest, will be < 0.5% of the portfolio • This way risk will be managed. Source : 20/8/07 The Edge Singapore (Nicholas Huber, Fund Manager) For Internal Circulation Only

29

Fund Information

Fund Details

Minimum Investment of

1.80%

RM1,000 To Start

Annual Management Fee

0.08%*

Trustee Fee

5.5%: IUTA 6.5%: Agency

Application Fee

*subject to minimum of RM18,000 p.a.

Source: CIMB-Principal For Internal Circulation Only

31

Withdrawal fee Institutional Unit Trust Agents (IUTAs)

Up to 1.0%

Agencies

Up to 1.0%

Direct investment via CIMB-Principal

Up to 1.0%

Withdrawal fee is chargeable within six (6) months from the Commencement Date. Thenceforth, no Withdrawal fee will be charged. 32

For Internal Circulation Only