SUBSIDIAIRY NAME	COUNTRY	SECTOR/INDUSTRY	OWNERSHIP %	ACQUISITION DATE	ACQUISITION VALUATION	TOTAL ASSET VALUATION
VERITAS USA INC	USA	DEVELOPMENT	100% IIB-DG	FEB 7, 2022	290 MILLION USD	2.9 BILLION USD
SKEET HYDROGEN PRODUCTION PLATFORM	USA	ENERGY	70% IIB-DG	May 10, 2022	10.32 BILLION	103 BILLION

REAL ESTATE

VERITAS GROUP LIMITED: The Veritas Group Limited, incorporated in Bermuda, has created a portfolio of a project that it seeks to fund via the IIB Development Group SPV funding SBLC scenario through our subsidiary in the USA, Veritas USA Inc. We have obtained security instruments in the form of an A+ rated SBLC for $100m USD as well as investment estimated at $22m USD in developer funds. The developer’s funds were invested as part of development in the Highland Country biomass to renewable natural gas (RNG) project, Florida and six property developments in Western Cape and one in Johannesburg, Gauteng, South Africa, combined.