Executive Summary:

• During 2014, total estimated investment for the PPP projects that we track on our database reached USD 71,819 million when considering signed projects and USD 48,485 million for the projects that reached financial close during the year.

• For both categories, PPP projects signed and PPP projects with financial close, the third quarter was the strongest with volumes of USD 26,188 million and USD 16,203 million respectively.

• Asia Pacific was the main geographical area with 46% of the planned investments in both cases, mainly due to a significant volume of PPP projects in Australia. Transport was the main sector also in both cases, concentrating 86% of the investment volume for PPP projects signed and 81% for projects reaching financial close.

• Top projects signed during 2014 included: North West Rail Link in New South Wales, East West Link PPP project and Queensland rolling stock PPP in Australia (all three over USD 4,000 millions each), BR-040 highway concession in Brazil and Lima ́s Metro line 2 concession in Peru.

• Top projects that reached financial close included: the three largest Australian projects mentioned above, together with Intercity Express Programme (IEP) – East Cost main line in UK and Milano Metro line 4 PPP project in Italy.