Group and Shareholding structure

(A) Associate (JV) Joint Venture (S) Subsidiary
(O) Operations

- IBL Energy (100%) (S)
- Alteo (27.64%) (A)
- Manser Saxon (99.97%) (S)
- CNOI (63.83%) (S)
- UBP (33.14%) (S)
- BrandActiv (100%) (O)
- HealthActiv (100%) (O)
- Blychem (100%) (S)
- CMH (100%) (S)
- Intergraph (100%) (S)
- Scomat (100%) (S)
- Winners (100%) (S)
- Phoenix Bev (23.28%) (S)
- Naivas Ltd (40%) (A)
- DTOS (100%) (S)
- LCF Holdings (100%) (S)
- LCF Securities (77%) (S)
- Eagle Insurance (60%) (S)
- The Bee Equity Partners (34.95%) (S)
- City Brokers (50%) (JV)
- EllGeo Re – (100 % ) (S)
- AfrAsia Bank (30.29%) (A)
- Ekada Capital (56.80%) (S)
- Arcadia Travel (100%) (S)
- Alentaris (85%) (S)
- Lux Island Resorts (56.47%) (S)
- The Lux Collective (56.37%) (S)
- Life Together (100%) (S)
- IBL Link (100%) (S)
- CIDP (90%) (S)
- GWS Technologies (80%) (S)
- Universal Media (55%) (S)
- C+S (100%) (S)
- HealthScape (100%) (S)
- Clinique Bon Pasteur (27.57%) (A)
- Novalab (100%) (S)
- IBL Aviation (100%) (O)
- IBL Shipping (100%) (O)
- Ground2Air (100%) (S)
- Logidis (100%) (S)
- Reefer Operations (100%) (S)
- Somatrans (75%) (S)
- Australair (50%) (S)
- G2A Camas (50%) (S)
- Cervonic (85%) (S)
- Seafood Hub (85%) (S)
- Froid des Mascareignes (59.50%) (S)
- Marine Biotechnology Products (56.95%) (S)
- Marine Biotechnology Products Côte d’Ivoire
  (43.35 %) (S)
- Mer des Mascareignes (42.50%) (A)
- Princes Tuna (Mauritius) (40.64%) (A)
- Bloomage (100%) (S)
- Bluelife (57.41%) (S)

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IBL Ltd
IBL House Caudan Waterfront, Port Louis, Mauritius