HDB is majority owned by P2 Brasil Infraestrutura – Fundo de Investimento em Participações (“P2”).

P2 is a private equity investment fund managed by Patria Investimentos and Promon.
Incorporated in 1994 Patria Investimentos is one of the major private equity firms in Brazil with approximately $5 billion in assets under management. Promon is a Brazilian engineering group founded in 1960 providing integrated engineering, procurement and construction management solutions to a variety of local and multinational clients in various infrastructure related sectors. Promon has sponsored over 360 infrastructure projects completed to date, with 200 clients in 31 countries.

Alberta Investment Management Corporation (“Aimco”) and Temasek Holdings (Private) Limited own minority stakes in the company through investment funds. Aimco is one of Canada’s largest institutional investment fund managers with an investment portfolio of approximately $68.8 billion. Temasek was incorporated in 1974 to hold and manage investments and assets previously held by the Singapore Government.

The project is estimated to cost $400 million. The proposed IFC investment is an up to $80 million A loan for IFC’s own account. IFC will also seek to raise additional funds under the B Loan to help complete the financing plan.

75.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	75.0
Equity

* These investment figures are indicative

HDB will operate on the Paraná-Paraguay river system in South America, primarily from Corumba, Brazil, down towards Argentina and Uruguay for consumption and export.

The proposed IFC investment will help to:
(i) increase the supply of efficient, low emission transport services on the Parana-Paraguay River System;
(ii) increase competition in the barging sector, encouraging operators to improve efficiency and reliability of service;
(iii) create additional employment for the region;
(iv) foster South-South investments; and
(v) improve supply chain management and support the development of the iron ore and steel industries in the region with follow-on benefits for construction and industrial sectors.

IFC will:
(i) help expand the role of low emission transport and contribute to the efforts against climate change;
(ii) support a new private sector logistics developer with a primary focus on river transport infrastructure in a market segment that requires significant levels of private investments in the medium- and long-term;
(iii) provide long-term debt financing at a maturity and structure which is needed by the Company but unavailable in the commercial market;
(iv) ensure the Company''s compliance with IFC''s Environmental and Social (E&S) standards.

This Project has been classified as Category B according to IFC’s E&S Review Procedure as the identified risks and impacts can be readily addressed through well established mitigation measures.