The document summarizes an investment fund called the Asia Renewable Resources Fund. The fund aims to generate consistent returns through a diversified portfolio of sustainable forestry resources in Asia. It will focus on acquiring high quality forestry assets and land opportunities. The fund expects to provide a minimum 12% annual return to investors. It will invest in various forestry projects involving trees like teak, agarwood, and oil seed trees. The acquisition strategy involves thorough due diligence and meeting key investment criteria like diversification and strong capital preservation.

1. The Asia Renewable Resources Fund
A Dedicated Fund of the KMG SICAV – SIF
An open ended investment fund acquiring high quality and high value forestry assets and
land opportunities aiming to provide investors with strong growth potential in the short
to medium term with typical investment horizons of circa 5 years.
March 2012
Treedom Investments Ltd Tel: +66 (0) 2 259 6455
54 B.B. Building, 7th Floor, Fax: +66 (0) 2 259 6456
Office # 3705,
Sukhumvit 21 Road (Asoke)
Klongtoeynua, Email: Antony.bell@treedom.biz
Wattana, Bangkok 10110
Disclaimer
This document is not an offer or solicitation in any jurisdiction in which such offer is not authorised. Nothing in it should be construed as advice and is therefore not a
recommendation to buy or sell shares/units Past performance is not a guarantee of future returns. The value of investments may fall as well as rise.
Any decision to invest should be based on a full reading of the Offering Document and the most recent financial statements (if available). In case of any discrepancy
between this presentation and the Offering Document in force, the Offering Document shall prevail.

2. Presentation Agenda
1. Executive Summary
• Overview
• Opportunity and Rationale
• Investment Criteria
• Investment Policy
2. Managed Forestry Projects
• Teak – Global Market Overview
• Agarwood
• Oil Seed Trees
3. Acquisition Strategy
• The 10 Key Investment Criteria
• Competitive Edge
• Investment Flowchart
• Acquisition Process
• Acquisition Due Diligence
4. The Treedom Group
• Treedom Investments Limited
• The Treedom Advantage
5. Fund Terms and Structure
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3. 1. Executive Summary - Overview
Key Fund Information
The Asia Renewable Resources Fund’s policy is to generate consistent returns achieved through a diversified
portfolio of sustainable and renewable forestry resources. The Fund will enable investors to benefit from the
anticipated strong trends and future growth in the managed forestry sector.
Investment Objective
The investment objective of the Asia Renewable Resources Fund is to achieve long term capital growth through
investment in high value forestry assets and land opportunities to develop sizeable returns from forestry
operations. The Asia Renewable Resources Fund may also invest into transferable securities to enhance liquidity
and diversification.
The Team
A experienced team of professionals with wide ranging experience in capital raising, investment and operations.
This opportunity has brought together a first class team combining experts in fund management, capital and
private equity fund raising and forestry management, acquisition, operations and development.
Return
It is envisaged that the Fund will be able to provide a stable and predictable level of growth. The aim is to provide
a minimum 12% IRR per annum though higher returns are possible.
The Fund
Specialised Investment Fund (SIF). The Asia Renewable Resources Fund is an open ended SICAV – SIF domiciled
and regulated in the Grand Duchy of Luxembourg Target Fund Size $100m USD (+).
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4. Opportunity and Rationale
“Globally, forests play a vitally important part in the carbon cycle. As a renewable resource they
offer unrivalled returns for equity investors”
The right timing.
The Asia Renewable Resources Fund offers investors an opportunity to reap the rewards from investments in
sustainable and financially lucrative project-based forestry investments; with these investments projected to
include forestry, carbon credits, plantation timbers and Oil Seed Trees (OST's).
High stable returns
The Agro Forestry sector has traditionally been seen as a safe haven for investors during tough economic times.
Timber and forest asset classes have been invested in for centuries and are seen as very stable returns because
the investors are able to see their assets “growing” due to the organic biological activity
Prime Sector for Growth
As an asset class forestry investment and “agro forestry” in particular offers equity and quasi-equity investors the
opportunity to enter a sector which has a stable and predictable return strategy over the short, medium and long
terms.
With low correlation to other commodity and asset classes timber and associated products are sheltered to a
large degree from economic downturns and offer a prime investment opportunity for primary and secondary
investors.
See Figure 1 below which gives an investment insight into short, medium and long term strategies employed by
the Fund and their associated carbon offset and plantation management aspects.
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5. Figure 1 – Investment Insight
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6. Investment Criteria
Forestry and Land assets will be sourced that can deliver high growth potential and that are potentially income
producing from day of purchase.
Forestry, Agro Business and Land Investment Criteria
Asset Base
• Multi species and multi sector focus with a modern agro business outlook that comply with current and
future international regulations and standards.
• Internal Operational Strategy to ensure compliance to best practice management of assets.
• Strategic geographical locations across the Asian region identified and purchased/leased as demand
increases in each sector
• Pipeline of “prime” and “over geared” target acquisitions identified along with an integrated development
plan.
• Product diversification to offset risk and to increase profitability of assets.
Target Minimum Equity Returns
• Projected minimum 12% IRR
• All assets purchases will be tested against their ability to return this minimum ROI prior to purchase
Management
• Annual audit of the Fund by professional auditors – Deloitte
• Bi-annual management reporting on fund activities
• Appropriate fee levels to reflect actual performance of Fund
• Understanding the need for better standards for care in our environment whilst creating profit.
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7. Investment policy
The Asia Renewable Resources Fund primary objective is to provide capital growth by investing in a portfolio of
agro forestry products and forestry. The aim is to achieve this through investment as identified by the
Investment Adviser. An independent third party forestry expert will be retained by the Asia Renewable
Resources Fund and will review the Investment Adviser’s recommendation and provide their approval to the
Global Investment Manager.
Offering investment in both long and short term rotation forestry assets, the aim will be to diversify the
portfolio but not limited to the distinct categories below.
• Forestry Assets producing high value essential oils – for example Sandalwood oil or Oud oil
• High Value long term timber Assets – such as teak, mahogany, ebony, & rosewood
• Forestry Assets aimed at deriving an annual income stream such as Milletia Pinnata primarily for the
bio fuels market or Para Rubber
The Asia Renewable Resources Fund strategy will be to invest in land opportunities and look to cover a broad
base of forestry species ensuring income will be derived at multiple junctures and thus not reliant on large
revenues at harvest; which in some cases can be a lengthy period of time. Investment in new growth
plantations is aimed at significantly increasing profitability as high growth rates ensure above average financial
performance due to increased and quick asset growth, however that does not preclude that the acquisition of
existing mature plantations will not be given due consideration.
As part of the overall investment strategy and to assist with liquidity the Asia Renewable Resources Fund will
hold between 10% to 20% of the Asia Renewable Resources Fund assets in transferable securities such as
forestry sector exchange traded funds, and UCIs (Undertakings for collective investment) which have exposure
to the forestry sector.
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8. 2. Managed Forestry Projects
An identified industry issue with Managed Forestry Projects and the Forestry companies that inhabit this space is
their exposure to a single species in single locations.
The Asia Renewable Resources Fund intends to address any risk concerning the market movement for a single
species by adopting a multiple species approach. Initially, the advisers will address a number of potential projects
which may include plantations that are considered 'distressed'.
The Asia Renewable Resources Fund will initially invest in the following asset classes which are explained in more
detail on the following pages:
• Teak - Teak wood is very strong and durable, resists white ants and contains oil which preserves nails, a
property which enhances its value in the construction, furniture and decorative industries.
• Agarwood - Agarwood is a tree that produces an essential oil named Oud. Oud oil is used for a variety of
purposes and is a highly prized commodity.
• Oil Seed Trees – The renewable energy sector specifically the growth and culturing of various species for use
as alternative fuel sources
• Oil Palm - A multi-use crop, the fruit can be used for fuels, food or the oleo-chemical industry.
• Bamboo – 2nd Fastest growing plant in the world, uses such as furniture, food, construction and many more.
Below are examples of primary target acquisitions.
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9. Teak – Global Market Overview
Botanically called Tectona Grandis, the Teak is a native of the deciduous
forests of India and Burma and naturally its cultivation is encouraged in the
forestation programmes of the Government of India and in the recent past
we have seen Teak grown in large numbers wherever climatic conditions are
favourable for it. It is mainly grown for its highly valued timber. This long
lifespan is an argument against its cultivation, but commercially grown Teak is
usually thinned from around years 8-10 and then finally harvested around
years 15-20, which still gives a high return value for the full tree.
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10. Agarwood
Agarwood is a resinous wood that occurs in trees belonging to the Aquilaria
genus, Thymelaeceae family. Now listed as an endangered species as defined by
CITES, Aquilaria is a fast growing, archaic tropical forest tree. It is found generally in
South and Southeast Asia, from the foothills of the Himalayas to the forests of Papua
New Guinea. The tree grows in natural forests up to an altitude of about 1000
metres, with an ideal altitude of 500 metres. It can grow in a wide range of soils
including poor sandy soil.
The heart of the Aquilaria is known as Agarwood. Within the wood an essential oil is
formed as an antibody to a fungal infection. This essential oil is called Oud
• Oud Oil is commonly used throughout the Muslim world as a perfume.
• It is used by the fragrance houses of Europe as a base for their retail perfume
brands.
• The value of first grade Agarwood is extremely high.
• A wide range of qualities and products are generally available with geographical
location and cultural disposition being the main determinants of quality.
• Prices range for lower grade Agarwood from a low of US$ 1000 per kilo to in excess
of US$ 30,000 per kilo for the higher grades of Agar Oil (Oud) and resinous
wood, thus giving it the name of "liquid gold".
• Agarwood is also a commodity in its own right as it is used in various ceremonies
within several religions.
.
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11. Oil Seed Trees
The development of a renewable energy market has seen a demand for feedstock supply increase – this can be
derived from various trees producing pure plant oil or from woodchip supply. Grown in correct conditions, OST's
are extraordinary generators of two forms of biomass. The first is a vegetable oil that can be chemically reacted to
produce biodiesel; while the second is biomass that can be processed to a number of renewable energy based
end uses.
This group of plantations hold significant opportunities for The Asia Renewable Resources Fund .The feedstock's
used in oil applications (bio-fuels, vegetable oils, essential oils etc) are many and varied.
The Fund will initially target high yield bio-fuel type feedstock's, however over the longer term the Fund via its
acquisition strategy will investigate opportunities in all oil production spheres; examples of areas of significant
interest:
• Jatropha oil • Castor oil, • Salicornia oil,
• Honge oil • Coconut oil • Soybean oil,
• Jojoba oil, • Colza oil, • Sunflower oil,
• Nahor oil • Corn oil, • Tigernut oil
• Paradise oil, • Cottonseed oil, • Tung oil,
• Petroleum nut oil. • False flax oil,
• Copaiba, • Hemp oil, And various other edible
• Radish oil. • Mustard oil, and essential oil asset
• Rapeseed oil, • Palm oil, classes
• Ramtil oil, • Peanut oil,
• Rice bran oil, • Safflower oil
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12. 3. Acquisition Strategy
The 10 Key Investment Criteria
1. Take a flexible and rational approach through excellent networks and contacts to continually find the right
deals where we can promote re-forestation and the sustainable management of existing forestry
resources
2. Take a diversified portfolio approach with mixed assets and locations to control risk appropriately
3. To own the operating platform to capture profitability effectively, while also having the ability to integrate
new opportunities
4. Seek to achieve significant returns with less volatility by choosing existing and profitable target
acquisitions in key locations. Provide liquidity in the fund to accommodate our investors' changing
circumstances
5. To have a strong emphasis on capital preservation and protection allowing the Fund to Protect the
interests of both fund investors and local communities.
6. Benefit from the ongoing financial crisis by acquiring realistically priced opportunities offering excellent
potential to generate high yields and capital increases for the portfolio
7. To maximise gains from capital growth and operating profits. All acquisitions and disposals of fund assets
to be independently audited and further independent fund audits at 6-monthly intervals.
8. The right selection and assessment of value of our target acquisitions will be a critical success factor for
ascertaining future income potential and growth
9. Partner with local communities creating work opportunities and forestry industry training.
10. Sourcing the ideal location and projects where the demand for product is extremely high
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13. Competitive Edge
• Strong entrepreneurial spirit, open minded and highly motivated
Managerial • Strong desire for better standards within the managed forestry and Agro business sectors
Quality • Incentivised by performance
• Innovation culture within group
Proven • A strategic growth plan to create a market leading forestry and agro business portfolio and
Business investment proposition
Model • History of working with high net worth and institutional investor groups
• Highly responsive action to the needs of investors
• Proprietary financial models to comprehensively evaluate asset dynamics
• Detailed risk and stress calculators to rigorously test assets against market volatility
Approach • Regular due diligence of quantitative reports against asset classes
• Established investment and holding process
• Focus on new assets without the legacy of pre-2008 debt issues
• Dedicated investment and management infrastructure in-house
Effectiveness • Minimal transaction costs achieved through professional advisers
• Competitive fees for management, legal and accounting
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14. Investment Flowchart
• Select best possible target
Deal
acquisitions and their
operators Execution
• Identify and generate deals
that provide best returns • Buy according to • Disciplined management of
• Use of experience, market strategy and assets and the Fund
knowledge and network to investment policies • Active portfolio
effectively target asset • Structure and management
• Investment assets are negotiate deals that • Build and maintain
selected in changing market compliment successful relationships with
conditions that can deliver objectives investors
higher returns • Internal control • Add value due to Treedom
system based on Groups operational
Judgmental analyses and collaboration and experience
stringent compliance rigorous assessment • Devise clear exit strategies
undertaken when identifying • Effective decision as the opportunity occurs
targets which offer the best making
opportunity and can deliver
strong returns
Planning Active portfolio
& management
Sourcing
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15. Acquisition Process
• Origination of suitable assets that fit the investment criteria
• Detailed financial modelling and stress testing
Origination • Discussion of asset and possible approach to lenders to leverage purchase
• Preparation and review of targets information memorandum
• Preparation of formal letter offer in line with approved guidelines
• If offer is accepted a full heads of terms is prepared for full exclusivity
Offer • Preparation of financing terms (including any debt structure agreed)
• Equity moved to escrow from the Fund and full KYC undertaken
• Due diligence undertaken by legal counsel to include any regional and local laws
• Asset is inspected and valued internally
Due Diligence • Credit committee documents are drawn up
• Bank and the Fund are presented with a valuation by our valuers
• If due diligence and credit committee are successfully passed, acquisition is acquired with
either funds held in escrow or via credit agreement with a lending bank or a combination
Closing thereof.
• Asset management of acquisition begins in accordance with asset management plan
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16. Acquisition Due Diligence
The Asia Renewable Resources Fund intends to source projects that include aspects deemed desirable including
country benefit, projected profitability, carbon aspects, biodiversity, community, flora, fauna, market
potential, risk, security and conservation potential. The acquisition process will balance a complex array of
biological, operational, and economic considerations including a reliable evaluation and projection of the
following:
• Timberland inventory data;
• Growth and yield of inventory;
• Harvest scheduling plans;
• Other non-timber revenues;
• Timber product mixes and prices;
• Silvicultural benefits and costs;
• Biomass processing;
• Refining of produced oil;
• Management costs;
• Conservation and environmental
services values;
• Road and infrastructure costs and
expenses;
• Land Title;
• environmental, and access issues;
• Potential exit strategy.
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17. 4. The Treedom Group
Treedom Investments Ltd
A Seychelles registered company and Investment Adviser to the Asia Renewable Resources
Fund. Key Staff: Andrew Steel, Steve Griffin. Key staff; David Smith, William Raper, Patrick
Mulcahy, Julian Bulman.
Equitech Ltd
A Thailand domiciled entity that will be appointed by the Investment Adviser to identify
and value prospective projects for potential investment by the Asia Renewable Resources
Fund. Directors: Andrew Steel. Key Staff; Steve Griffin, Roger Steinhardt, Dr Paiboolya
Gavinlertvatana, Julian Bulman.
Asia Forestry Management Ltd
A Thailand domiciled company that will be appointed by the Investment Adviser to manage
plantation and forestry assets held within the Asia Renewable Resources Fund. Directors;
Andrew Steel, Steve Griffin, Key Staff: Roger Steinhardt, Dr Paiboolya Gavinlertvatana.
Asia Forestry Distillery Ltd
A Thailand domiciled company that will be appointed by the Investment Adviser to process
and market Oud oil from Agarwood assets held within the Asia Renewable Resources Fund.
Directors: Andrew Steel, Steve Griffin. Key Staff: Les Weaver, Roger Steinhardt.
The PATT Foundation
The PATT Foundation is a UK registered Charity, recognized by the United Nations, which is
within the Treedom Group of Companies, but will have no working relationship with the
Investment Adviser or the Asia Renewable Resources Fund except for receiving donations
from Treedom Investments Limited fees and from Asia Renewable Resources Fund
investors who opt-in voluntarily. 17

18. Treedom Investments Limited
Investment Adviser - Forestry Assets
Treedom has identified an opportunity arising from an existing gap in the market for a new and
innovative style of investment Asia Renewable Resources Fund. Established in 2010 the company
brought together a dedicated team of individuals with over 80 years combined experience in their
various field. Each with skills specifically relevant to advise on investments in the forestry sector. It
has arisen from the current rapid adoption of 'green' products and investments by institutions and
individuals.
Treedom provides a unique opportunity to generate returns for investors via the provision of
forestry investment products which, in parallel, take due regard to people, communities and the
environment.
In summary, Treedom has positioned itself, via a fund vehicle; to offer a socially responsible
investment that delivers triple bottom line benefits of People, Planet, Profit by investing in forestry
based assets.
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19. The Treedom Advantage
1. Impeccable reputation locally and globally
2. Strong fund management with international education and
training
3. Best in breed Corporate Governance and investment
processes and policies
4. Strong and proven risk management techniques
5. Strong Forestry management team with proven local and
international experience
6. Impressive track record in forestry management, corporate
finance, fund raising and strategic alliances
7. Extensive global network of affiliates
8. Access to the best possible deal pipeline in the Asian region
and the rest of the world
9. Extensive fund raising and distribution experience
10. Extensive regional team on the ground in Asia
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20. 5. Fund Terms and Structure
Fund Structure
The Asia Renewable Resources Fund is structured as a regulated SICAV – SIF in the Grand Duchy of
Luxembourg, specifically it is a dedicated fund of the KMG SICAV – SIF
Luxembourg
Centre of Excellence: outstanding reputation as a world class centre for the investment fund industry combined
with a legal and fiscal environment that attracts fund promoters from all of the world
Stable Democracy with a strong economy: very stable political and social environment, it is the worlds least risky
business environment (World Market Research Centre)
SICAV SIF
A SICAV SIF is an onshore Luxembourg investment fund fully regulated by the Commission de Surveillance du
Secteur Financier (CSSF) created in February 2007 via the Special Investments Funds law. A SIF offers a fully
regulated investment structure that is flexible, efficient and tax optimised; investors participate via subscription in
shares in the SIF through which they hold their investment fund.
The Asia Renewable Resources Fund will be managed under the KMG Capital Markets Luxembourg S.A. SICAV SIF
(KMG SICAV SIF)
Taxation
The Asia Renewable Resources Fund will not be subject to Luxembourg taxes on capital gains nor income and
there is no liability to withholding tax on distributions, including the redemption of shares. Distributions made by
a SICAV SIF or capital gains realised from the sale, refund or repurchase of shares in a SICAV are out of the scope
of EU Savings Directive since it is not subject to “UCITS” rules. Additionally, Luxembourg has concluded around 50
double taxation treaties and it should be possible to structure an investment to benefit from one of these double
tax treaties.
A SICAV SIF is, however, subject to a capital duty, levied at the time of creation or subsequently – in particular
when new contributions are made or when a fund is converted or merged. An annual subscription tax of 0.01% is
levied, based on the quarterly net asset value. Investors should always consult professional advisers with regards
to taxation advice
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21. Fund Terms and Structure
Minimum Investment: $10,000 USD
It is intended that The Asia Renewable Resources Fund will seek Reporting Fund status for the purposes of UK tax legislation on the GBP Share Classes.
* The Investment Adviser will direct 10% of all fees earned to the PATT Foundation to support reforestation efforts globally.
Investors have the option to donate a percentage of their returns back to the PATT charity.
Above 8% performance and after payment of performance fees - balance to go to PATT.
Above 8% performance and after payment of performance fees - 1 or 2% to go to PATT.
1 or 2 % to go to PATT irrespective of performance.
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22. Legal Notice
The Asia Renewable Resources Fund & KMG SICAV – SIF have no intention to make any offer. This presentation (the presentation)
shall be specifically considered as a simple communication of information on a security or an issuer without securities being offered
for purchase or subscription. The issuer is exempted from the obligation to publish a prospectus within the scope of Part II of
Luxembourg law on prospectuses for securities.
This communication is directed only at institutional investors, professional investors, wealth managers and other well-informed
investors who are classed as well informed investors. It should not be distributed to, or relied on by any other investors. The Fund is a
Luxembourg Specialised Investment Funds scheme; it cannot be promoted to investors for whom it has not been deemed
appropriate. If you do not fall into these categories do not read this document.
The information contained herein is confidential and is intended only for the persons to whom it is transmitted to by and on behalf of
The Asia Renewable Resources Fund & KMG SICAV – SIF . Any reproduction of this document in whole or in part, or the divulgence of
any of its contents, without the prior written consent of The Asia Renewable Resources Fund & KMG SICAV – SIF , is prohibited.
Each interested investor shall be responsible for carrying out his own examination and consulting, if necessary, his own legal advisers
in order to evaluate, in respect to his personal situation, the appropriateness of an investment in the The Asia Renewable Resources
Fund & KMG SICAV – SIF . The investor’s attention is drawn to the fact that the tax treatment that will be applied to investment in the
Fund depends on his particular circumstances and may change. Therefore it is recommended that each investor consult with his tax
adviser.
More specifically, the attention of potential investors is drawn to the risks associated with this investment, which are detailed in the
Offering Document and it is strongly recommended that each potential investor consult this Offering Document. Past yields of similar
investments are no indication of future returns on investments that The Asia Renewable Resources Fund & KMG SICAV – SIF will carry
out, as past performance is no guarantee of future results. Some legal, tax, or regulatory changes may occur during the life of the The
Asia Renewable Resources Fund & KMG SICAV – SIF , and may have an unfavourable effect on the performance of the The Asia
Renewable Resources Fund & KMG SICAV – SIF . There is no guarantee that the Fund's targeted returns will be achieved.
Hence, potential investors must form their own opinion on the risks of this investment opportunity prior to taking the decision to
invest in the The Asia Renewable Resources Fund & KMG SICAV – SIF .
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