Pre-Trading Thoughts

Weekly Commodity Update·         Brent futures are trading at USD83.66/bbl (AMOC)·         The Egypt urea index at USD752/ton, +16% WoW (EKHO, ABUK, MFPC)·         Caustic Soda prices at USD498/ton, +10.9% WoW (MICH)·         Steel/Iron Ore spreads are at the USD402 mark, + 5% WoW (ESRS)·         LME 3M Fwd Aluminum prices rose 4% WoW to record USD2,966/tonne (EGAL)Another state-owned company could offer shares on the EGX this yearORHD reported impressive 3Q21 sales of EGP2.2 billion, leading to 9M21 sales of EGP6.2 billion, up 43.4% y/y, driven by sales in El Gouna, Makadi Heights, and O West We remind you that our FVs for PIOH’s 3 subsidiaries ASPI, PRDC, and GDWA are EGP0.31/share, EGP4.86/share, and EGP1.84/sharePotential regulations for the real estate sector could cover payment plans, construction timelines, maintenance deposits, and contract breachesORAS added USD960 million of new awards to its backlog in 3Q21 to reach USD6.1 billion as of 30 September 2021e-finance to offer 160 million shares that will be allocated to anchor investors, bringing the total number of shares offered to 417.78 million shares (up from 257.78 million), representing 23.5% of the capital post capital increaseOIH completed the sale of the real estate investment in Brazil at USD77.6 million , or EGP0.23/OIH share, which brings the potential FV of the company to EGP0.46/OIH share rather than EGP0.47/shareDOMT recorded a net loss of EGP32.55 million in 1H21, compared to a net profit of EGP63.83 million in 1H20. Revenues fell to EGP1.32 billion, down from EGP1.46 billion in 1H20, a drop of 9.6% YoYCIRA is in talks with QNB to obtain a EGP260 million loan to finance its expansion plan