due diligence report - noatum€¦ · due diligence summary maritima del mediterraneo, s.a.u....

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Due DiligenceReport

TRA C E Inc . and TRA C E InternationalSuite 300151 Wes t StreetA nnapolis , MD 21401

info@TRA C E international.org+1 410 .990 .0076

TRA C Ecertif ication Due DiligenceReport

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It means that an individual or company has completed a comprehensive due diligence process administered by TRACE, the world’s leading anti-bribery standard setting organization. Certification by TRACE signifies that an entity has completed internationally accepted due diligence procedures and has been forthcoming and cooperative during the review process. The successful completion of TRACEcertification demonstrates a commitment to commercial transparency, allowing the certified entity to serve as a valued business partner to multinational companies.

TRACEcertification Report at a Glance

› Detailed company information, including information on subsidiaries and affiliated entities.

› Business registrations, as applicable.

› Corporate literature or a company description.

› Beneficial ownership (except for shareholders owning less than 5% of publicly-traded companies).

› Identification of directors and key employees.

› Additional ownerships, directorships and employment of all owners, directors and key employees.

› Current government employment of owners, directors and key employees.

› Contact information for three business references.

› One financial reference or audited financial statement.

› Media and litigation searches dating back seven years in a comprehensive international database.

› Denied party screening and two negative media searches.

› Evidence of anti-bribery code of conduct and training.

TRACEcertification is not a guarantee against past or potential wrongdoing by the certified entity or a guarantee against potential liability. A summary of any “red flags” identified during the TRACEcertification review will be included in the report, but not all red flags preclude TRACEcertification.

About TRACETRACE International and TRACE Incorporated are two distinct entities with a common mission to advance commercial transparency worldwide by supporting the compliance efforts of multinational companies and their third party intermediaries. TRACE International is a non-profit business association that pools resources to provide members with anti-bribery compliance support while TRACE Incorporated offers both members and non-members customizable risk-based due diligence, anti-bribery training and advisory services. Working alongside one another, TRACE International and TRACE Incorporated offer an end-to-end, cost-effective and innovative solution for anti-bribery and third party compliance.

For more information, visit www.TRACEinternational.org. Follow TRACE:

› Gain a valuable compliance credential that differentiates you from competitors and is widely recognized in the international business community.

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› Attend TRACE Anti-Bribery Workshops at no cost.

Advantages of being TRACE Certified

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* * * * T R A C E B o o k m a r k : T a b l e _ o f _ C o n t e n t s

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Table of Contents

Due Diligence Summary 1

Business Information 4

Registration Information 6

Ownership Information & Board of Directors 49

Personnel 51

Name Confirmation Document 54

Resumes/CVs 56

Associated Offices & Entities 75

Other Engagements 87

Enforcement Information 89

Literature 92

Financials 126

Business References 201

Compliance Information 204

Reputational Screening 208

Additional Documents 213

Anti-Bribery Training 222

Maritima del Mediterraneo, S.A.U. certifies that the information provided in the following report is, to thebest of its knowledge and belief, accurate, current and complete.

Maritima del Mediterraneo, S.A.U. certifies that to the best of its knowledge, neither Maritima delMediterraneo, S.A.U. nor any of its employees or third parties acting on its behalf have offered or givenanything of value to a government official in order to obtain or retain business or receive an improperbusiness advantage.

Maritima del Mediterraneo, S.A.U. agrees to notify TRACE promptly of any material changes to theinformation provided herein.

The person whose electronic signature appears below is authorized to certify on behalf of Maritima delMediterraneo, S.A.U. that the information is true and correct.

Name: Jordi Trius TraserraDate: 26 January 2018

* * * * T R A C E B o o k m a r k : D u e _ D i l i g e n c e _ S u m m a r y | D u e D i l i g e n c e S u m m a r y

Due DiligenceSummary

The TRACE due diligence review of commercial intermediaries is thorough. The review may nevertheless failto uncover information which, if available, would have discouraged or prevented companies from enteringinto a business relationship with the intermediary. Companies requesting TRACE Reports agree that in noevent shall TRACE be liable for any damages incurred as a result of relying on TRACE Reports or as a resultof any omission or misrepresentation by an intermediary reviewed by TRACE.

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1 December 2017 - 30 November 2018

Due Diligence Summary

Maritima del Mediterraneo, S.A.U.TRACEcertification ID: TC4142-4751

Due diligence is not a guarantee against past or potential wrongdoing or against potentialliability.

Depending on the nature, size, scope and location of the proposed project with anintermediary, more extensive due diligence may be warranted.

The following "red flags" or significant areas of concern were identified during the due diligencereview:

Disclosed intention to work with a third party intermediaryWorks with numerous third parties. See Associated Offices & Entities.

Due diligence undertaken by TRACE International or TRACE Inc. shall not be used to support orpromote business in Iran or other sanctioned countries.

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©2017 TRACE International, Inc. All rights reserved. www.TRACEinternational.org

Spain Overall Risk Score: 35

Level: low

This score is a composite of the four domain scores discussed below.

The bar chart below shows Spain’s total risk scores in 4 domains: (1) Business Interactions with Government, (2) Anti-

Bribery Laws and Enforcement, (3) Government and Civil Service Transparency and (4) Capacity for Civil Society

Oversight. The four domain scores are weighted and combined and a risk penalty is added for individual domain scores

that exceed the overall country risk score. Each country is given a score from 1 to 100 for each domain, and for the total

bribery risk. A higher score indicates a higher risk of business bribery.

1. Business Interactions with Government: Spain receives a low score of 39 in this domain, based on a low degree of government interaction, medium expectation of bribes, and a low regulatory burden.

2. Anti-Bribery Laws and Enforcement: Spain receives a low score of 36 in this domain, based on a high quality of anti-bribery laws and a high quality of anti-bribery enforcement.

3. Government and Civil Services Transparency: Spain receives a low score of 35 in this domain, based on good governmental transparency and good transparency of financial interests.

4. Capacity for Civil Society Oversight: Spain receives a low score of 27 in this domain, based on a very high degree

of media freedom/quality and a high degree of social development.

Domain Risk Score

Overall Bribery Risk to Business 35

1. Business Interactions with Government

39

2. Anti-Bribery Laws and Enforcement

36

3. Government and Civil Service Transparency

35

4. Capacity for Civil Society Oversight

27

Snapshot

Size: 192,657 square km

2016 GDP: USD 25,791 per capita

Population: 47,772,536

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* * * * T R A C E B o o k m a r k : B u s i n e s s _ I n f o r m a t i o n | Q u e s t i o n S e c t i o n 1

BusinessInformation

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Business Information

Company's Full Legal Name: Maritima del Mediterraneo, S.A.U.

Doing Business As Name orTrade/Marketing Name:

Marmedsa Noatum Shipping Agency

Address of Headquarters/Principal Place of Business:

Paseo de la Zona Franca, 111

City: Barcelona

State/Province: Barcelona

Country: Spain

Postal Code: 08038

Telephone: +34 93 298 77 77

Facsimile: +34 93 298 77 77

Website: www.noatummaritime.com (Group Website)

Contact Person: Federico Lopez de Aguiar

E-mail Address: [email protected]

Job Title/Position: Director, Oil & Gas Division

Primary Industry: Logistics / Freight Forwarding, Transportation, Other: Shipping Agency;Terminals; Port Services

Types of services: Other: Shipping Agency; Terminals; Port Services

Maritima del Mediterraneo, S.A.U. provides services in the following countries: Algeria, Brazil, Chile,France, Germany, Morocco, Netherlands, Portugal, Russia, Spain, Sweden, Turkey, United States ofAmerica

Maritima del Mediterraneo, S.A.U. asks to be paid, and makes payments from: Spain

Method(s) by which Maritima del Mediterraneo, S.A.U. prefers to receive payments: Wire Transfer

Brief description of the types of services that Maritima del Mediterraneo, S.A.U. provides: Maritimadel Mediterraneo's activities cover main parts of the Logistics chain, such as customs brokerage,freight forwarding, tugboats, warehousing, container and multipurpose terminals. The main activityis the shipping agency with an important focus on the liner (containers, breakbulk, car carriers), andon tramp activity. Tramp activity and Logistics for the Offshore Oil & Gas Industry. Tramp has beenthe activity with the most important growth in our group in the last decade, thanks to ourparticipation (as founders) in the S5 Global Agency, giving all kind of assistance to those customerswho need global coverage for their vessels or rigs.

Additional Information: Maritima del Mediterraneo also provides services in the Canary Islands.Some of services outside of Spain are provided directly and other through third parties.The literature and website are for the group of companies.

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* * * * T R A C E B o o k m a r k : R e g i s t r a t i o n _ I n f o r m a t i o n | Q u e s t i o n S e c t i o n 1 1

RegistrationInformation

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Registration Information

Maritima del Mediterraneo, S.A.U. was established on: 19 November 1963

Additional Information: The Company was incorporated by means of a public deed executed inBarcelona (Spain) the 19th Nov 1963, and registered in the Register the 7th April 1964.

Tax Identification Number of Maritima del Mediterraneo, S.A.U.: A08148710

Maritima del Mediterraneo, S.A.U. is registered as a legal entity with the following governmentagency(ies) and/or holds the following required government-issued licenses and/or certifications:

Registration Number: A08148710

Registration Date: 7 April 1964

This registration does not expire.

Government Office: Companies Registry Office

City: Barcelona

Country: Spain

Copy of this registration:

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Información Mercantil interactiva de los Registros Mercantiles de España

REGISTRO MERCANTIL DE BARCELONA

Expedida el día: 10/11/2017 a las 09:45 horas.

ESTATUTOS

DATOS GENERALES

Denominación: MARITIMA DEL MEDITERRANEO SA

Inicio de Operaciones: 19/11/1963

Domicilio Social: PS DE LA ZONA FRANCA,NUMERO 111,

TORRE AUDITORI

BARCELONA

Duración: INDEFINIDA

C.I.F.: A08148710

Datos Registrales: Hoja B-55910

Tomo 46008

Folio 181

Objeto Social: Artículo 2.- Objeto Social El objeto de la Sociedad consiste en: la

mediación en los transportes marítimos o aereo o en los demás

relacionados con ellos, ya sea como navieros, armadores, fletadores ,

transitarios, agentes marítimos, consignatarios de buque o agentes

intermediarios en fletamientos; la representación de cualesquiera

empresas o líneas de navegación, aviación o de otra clase de transporte,

tanto nacionales como extranjeras; la compra y venta de buques o sus

accesorios; las exportaciones e importaciones, asi como las

representaciones comerciales de toda clase de productos. ii) la tenencia

de acciones o participaciones en sociedades ó empresas dedicadas al

transporte en general, por vía aérea, marítima o terrestre. iii) la recepción,

carga, estiba, desestiba, descarga, entrega, almacenamiento y

clasificación de mercancías y; iv) la adquisición, venta, utilización y

arrendamiento de inmuebles y construcción y explotación inmobiliaria en

general. La Sociedad podrá desarrollar las actividades integrantes del

objeto social, especificadas en los apartados del párrafo anterior, total o

parcialmente, de modo indirecto o mediante la titularidad de acciones y/o

participaciones en Sociedades con objeto idéntico o análogo.

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C.N.A.E.: 5222-Actividades anexas al transporte marítimo y por vías navegables

interiores

Estructura del órgano: Consejo de Administracion

Unipersonalidad: La sociedad de esta hoja es unipersonal, siendo su socio único NOATUM

MARITIME HOLDINGS SL, con N.I.F: B85960722

Último depósito contable: 2015

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ASIENTOS DE PRESENTACION VIGENTES

Diario de documentos (Datos actualizados el 10/11/2017 , a las 09:00 horas)

Diario: 1273

Asiento: 3013

Fecha de presentación: 30/10/2017

Fecha de escritura: 27/10/2017

Notario: J.M. GARCIA LOMBARDIA

Residencia: MADRID

Protocolo: 4758

Este documento ha sido presentado con fecha 30/10/2017

El documento contiene los siguientes actos:

-DESIGNACION CARGOS

-CESE DE CARGOS

Diario: 1273

Asiento: 3014



Notario: J.M. GARCIA LOMBARDIA

Residencia: MADRID

Protocolo: 4757



-CAMBIO DE SOCIO UNICO

Diario: 1274

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Asiento: 1597



Notario: L.F. PAZOS PEZZI

Residencia: BARCELONA

Protocolo: 1956



-CAMBIO DE REPRESENTANTE

Diario de cuentas (Datos actualizados el 08/11/2017 , a las 17:00 horas)

Diario/Asiento: 1017/2028


Diario de libros (Datos actualizados el 07/11/2017 , a las 17:00 horas)

Diario/Asiento: No tiene asientos de presentación vigentes

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SITUACIONES ESPECIALES

Depósito de proyecto

Depositado proyecto de fusión de la sociedad de esta hoja con fecha 26/09/2017.

Page 12 of 223

ESTATUTOS

ESTATUTOS:- Título 1. Régimen Legal, Denominación, Objeto, Duración y Domicilio Artículo 1.-

Régimen Legal y Denominación. La presente Sociedad es mercantil, de forma Anónima y por tanto,

de responsabilidad limitada a su Capital, gira bajo la denominación de "Marítima del Mediterráneo,

S.A." y se regirá por los presentes Estatutos v en cuanto en ellos no esté previsto, por la Ley de

Sociedades Anónimas y demás disposiciones legales aplicables. Artículo 2.- Objeto Social El objeto

de la Sociedad consiste en: la mediación en los transportes marítimos o aereo o en los demás

relacionados con ellos, ya sea como navieros, armadores, fletadores , transitarios, agentes

marítimos, consignatarios de buque o agentes intermediarios en fletamientos; la representación de

cualesquiera empresas o líneas de navegación, aviación o de otra clase de transporte, tanto

nacionales como extranjeras; la compra y venta de buques o sus accesorios; las exportaciones e

importaciones, asi como las representaciones comerciales de toda clase de productos. ii) la

tenencia de acciones o participaciones en sociedades ó empresas dedicadas al transporte en

general, por vía aérea, marítima o terrestre. iii) la recepción, carga, estiba, desestiba, descarga,

entrega, almacenamiento y clasificación de mercancías y; iv) la adquisición, venta, utilización y

arrendamiento de inmuebles y construcción y explotación inmobiliaria en general. La Sociedad

podrá desarrollar las actividades integrantes del objeto social, especificadas en los apartados del

párrafo anterior, total o parcialmente, de modo indirecto o mediante la titularidad de acciones y/o

participaciones en Sociedades con objeto idéntico o análogo. "ARTICULO 3.- El domicilio social

radica en Barcelona, Passeig de la Zona Franca nº 111, Torre Auditori. El Consejo de

Administración es el órgano facultado para crear, suprimir o trasladar, agencias, depósitos,

representaciones, delegaciones y sucursales, en cualquier punto de España y del extranjero, así

como para acordar el traslado del domicilio social dentro de la misma población. Para trasladar el

domicilio a otro termino municipal será preciso el acuerdo de la Junta General de Accionistas."

Artículo 4.- Duración La duración de la Sociedad es por tiempo indefinido, e iniciará su actividad en

la fecha de otorgamiento de la escritura de constitución. -Título IICapital Social y Acciones Artículo

5.- Capital Social y Acciones El Capital Social es de 694.168,98 euros y está representado por

11.550 acciones ordinarias, nominativas, de 60,101210 euros de valor nominal cada una de ellas,

totalmente suscritas y desembolsadas, numeradas correlativamente del 1 al 11.550, ambos

inclusive. Artículo 6.- Títulos Las acciones estarán representadas por títulos nominativos, que

podrán ser múltiples, cortados de libros talonarios v numerados correlativamente. El título de cada

acción contendrá las menciones señaladas como mininas en la Lev de Sociedades Anónimas y en

cualquier otra disposición legal que sea de aplicación, así como, en su caso, la circunstancia de que

se trate de acciones sin voto o que incorporen prestaciones accesorias. Artículo 7.- Resguardos

Provisionales La Sociedad podrá expedir resguardos provisionales antes de la expedición de los

títulos definitivos. En cuanto sea de aplicación, serán observadas las disposiciones de los artículos

53, 55 y 58 de la Ley, de Sociedades Anónimas para los resguardos provisionales, así como

cualesquiera otras disposiciones legales que sean de aplicación. Artículo 8º.- Libro Registro de

Acciones Las acciones figurarán en un Libro Registro que llevará la Sociedad, en el que se

inscribirán las sucesivas transferencias de las acciones con expresión del nombre, apellidos, razón

o denominación social, en su caso, nacionalidad y domicilio de los sucesivos titulares, así como los

derechos reales y otros gravámenes sobre aquellas realmente constituidos. La Sociedad sólo

reputará accionista a quien se halle inscrito en dicho libro. Cualquier accionista que lo solicite podrá

examinar el Libro Registro de acciones nominativas. La Sociedad sólo podrá rectificar las

inscripciones que repute falsas o inexactas cuando haya notificado a los interesados su intención de

proceder en tal sentido v estos no hayan manifestado su oposición durante los treinta días

siguientes a la notificación. Artículo 9.- Acciones sin Voto La junta General podrá acordar la emisión

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de acciones sin voto por un importe nominal no superior a la mitad del Capital Social desembolsado.

Los titulares de las acciones sin voto tendrán derecho o percibir un dividendo mínimo anual del

cinco por ciento del capital desembolsado por cada acción sin voto; una vez acordado el dividendo

mínimo, los titulares de las acciones sin voto tendrán derecho al mismo dividendo que corresponda

a las acciones ordinarias. Articulo 10.- Condición de Socio La acción confiere a su titular legitimo la

condición de socio, e implica la sumisión de sus titulares a los presentes Estatutos y en los

acuerdos válidamente adoptados por los órganos rectores de la Sociedad, al tiempo que le faculta

para el ejercicio de los derechos inherentes a su condición, conforme a estos Estatutos y a la Ley.

En los términos establecidos en la Ley, v salvo en los casos en ella previstos, el accionista tiene,

como mínimo, los siguientes derechos: (a) Participar en el reparto de las ganancias sociales y en el

patrimonio resultante de la liquidación. (b) Suscripción preferente en la emisión de nuevas acciones

o de obligaciones convertibles en acciones. (c) Asistir y votar en las juntas Generales e impugnar

los acuerdos sociales. El derecho de voto no podrá ser ejercido por el accionista que se hallara en

mora en el pago de los dividendos pasivos, ni tampoco respecto a las acciones sin voto que

pudieran existir. (d) Información, en los términos legalmente establecidos. Artículo 11.-

Copropiedad de Acciones Toda acción de esta Sociedad es indivisible. Los copropietarios de una

acción responden solidariamente frente a la Sociedad de cuantas obligaciones sé deriven de la

condición de accionistas, v deberán designar una sola persona que ejercite en su nombre los

derechos inherentes a su condición de socio que deberá notificarse a la Sociedad para que lo haga

constar en el Libro-Registro. La misma regla se aplicará a los demás supuestos de cotitularidad de

derechos sobre lasacciones. Artículo 12.- Usufructo de Acciones En el caso de usufructo de

acciones, la cualidad de socio reside en el nudo propietario, pero el usufructuario tendrá derecho en

todo caso a los dividendos acordados por la Sociedad durante el usufructo. El usufructuario queda

obligado a facilitar al, nudo propietario el ejercicio de sus derechos. En las relaciones entre el

usufructuario y el nudo propietario regirá lo que determine el titulo constitutivo del usufructo; en su

defecto, lo previsto en la Ley de SociedadesAnónimas y, supletoriamente el Código Civil. Artículo

13.- Prenda de Acciones En caso de prenda de acciones corresponderán al acreedor pignoraticio

los derechos políticos de accionista. Si el propietario de las acciones incumpliese la obligación de

desembolsar los dividendos pasivos, el acreedor pignoraticio podrá cumplir por sí esta obligación o

proceder a la realización de la prenda. Artículo 14.- Embargo de Acciones En caso de embargo de

acciones se observarán las disposiciones contenidas en el artículo anterior, siempre que ello fuera

posible y no fuese incompatible con el régimen especifico del embargo. Artículo 15.- Restricciones

a la Libre Transmisibilidad de las Acciones Intervivos En casos de transmisiones por actos

intervivos será libre la transmisión si se efectúa en favor de ascendientes, descendientes o el

cónyuge del transmitente. Asimismo, serán libres las transmisiones de acciones cuya titularidad

corresponda a una Sociedad y se realicen en favor de su Sociedad dominada ,de la dominante, en

el sentido del articulo 4 de la Ley del Mercado de Valores, incluyendo transacciones entre cualquier

Compañía del Grupo, siempre y cuando en el caso de que la Compañía adquirente cese de ser

miembro del Grupo, antes de dejar éste, transmita sus acciones de la Compañía a otro miembro del

Grupo. Fuera de los casos anteriores, los accionistas tendrán un derecho de preferencia para la

adquisición de las acciones que se pretenden transmitir por cualquier acto intervivos, tonto a titulo

lucrativo como oneroso, en proporción al número de acciones que respectivamente les pertenezcan

legítimamente de esta Sociedad.En el caso de que quedaran fracciones indivisibles, se adjudicarán

acciones enteras a aquellos accionistas de entre los que hubieren hecho uso del derecho de

preferente adquisición queacrediten tener derecho a una fracción mayor. De no ser adquiridas

lasacciones en todo o en parte por otros accionistas, las no cubiertas podrán ser adquiridas por la

propia Sociedad, dentro de los límites y según los requisitos establecidos en el articulo 75 de la Ley,

de Sociedades Anónimas. A dichos fines el accionista que quiera vender, ceder o en otra forma

enajenar o transmitir por actos intervivos, a titulo oneroso o lucrativo, todas o parte de las acciones

Page 14 of 223

de que sea legítimo titular, a favor de personas que no sean las referidas en el primer y segundo

párrafo de este articulo deberá: (a) Comunicarlo a la .Administración social fehacientemente, en el

domicilio de la Sociedad, indicando el número de acciones u otros títulos que comieran derecho a

suscripción que desea transmitir, su numeración, precio, condiciones depago y compradores. (b) La

Administración de la Compañía, dentro del plazo de quince (15) dias naturales siguientes a la

recepción de la carta, deberá transmitir la oferta de venta a los demás accionistas, de forma

fehaciente de ser conocido su domicilio, y de no serlo, por medio de anuncio inserto en uno tic los

diarios de mayor circulación de la provincia donde la Sociedad tenga su sede social.(c) Los

accionistas que deseen adquirir las acciones o Mulos ofrecidos, deberán indicarlo mediante

notificación fehaciente a la Admirúsh"ación social dentro de los treinta días naturales siguientes al

recibo de la notificación, o en, su caso, de la fecha de publicación del anuncio. Asimismo, deberán

Manifestar su interés por adquirir un número superior de acciones si los demás accionistas

renuncian a su derecho de adquisición preferente, parcial o totalmente, reconociéndoseles

proporcionalmente el derecho de acrecer (d) Si hubiere conformidad en el precio se realizará la

venta, en favor de los accionistas que hayan manifestado su deseo de adquirir las acciones o títulos

ofrecidos en proporción a las acciones que poseyeran de la Sociedad en el tiempo de realizarse la

compraventa. En el supuesto de que alguno de los"accionistas no estuviera dispuesto a adquirir las

acciones ofrecidas o manifestara su deseo de adquirir un número menor al que le correspondería, el

restode accionistas compradores si así lo manifestaran podrán adquirir las sobrantes a prorrata de

su participación en el Capital Social. (e) En caso de que las ofertas de adquisición presentadas por

los accionistas no cubrieran la totalidad de las acciones ofrecidas para la venta, o en el caso de que

ningún accionista manifestase su deseo de adquirirlas en el plazo establecido para ello, si la

Administración considerare que la adquisición de las acciones por el comprador señalado por el

accionista vendedor, puede suponer un daño grave para la Sociedad, podrá convocar en los

términos establecidos en estos Estatutos a los accionistas para la celebración de la junta General

Extraordinaria en la que se decida la conveniencia de proceder por parte de la Sociedad ala

adquisición de las acciones ofrecidas, con formal cumplimiento de lo dispuesto en la Ley de

Sociedades Anónimas para la adquisición de acciones propias por la Sociedad. El plazo para el

ejercicio de lo dispuesto en el párrafo anterior será el de cuarenta p cinco (45) días naturales, a

contar desde el último día del plazo en que los accionistas puedan manifestar su deseo de adquirir

las acciones. (f) Transcurrido el plazo oportuno según los párrafos anteriores, el accionista ofertante

recibirá una Certificación expedida por la Administración en la que se le notificará el resultado de la

oferta recibida, facultándole para que venda sus acciones al accionista que haya ejercitado su

derecho de adquisición preferente, o bien a la Sociedad, o por último alcomprador manifestado en

su oferta por el precio indicado en la misma o acordado. Dicha certificación tendrá una vigencia de

seis meses a contar desde su expedición. (g) Para el ejercicio de este derecho de adquisición

preferente, el precio de compra, silos accionistas manifestaran su discrepancia con el ofertado, será

el que determine el Auditor de Cuentas de la Sociedad y, si ésta no estuviera obligada a la

verificación de las Cuentas Anuales, el auditor que, a solicitud de cualquier interesado, designe el

Registrador Mercantil del domicilio social. En ningún caso dicho precio podrá ser inferior,) su valor

real. Mortis causa y personas vinculadas al accionista Para la transmisión moros causa de las

acciones, se seguirá el trámite dispuesto en el apartado "Intervivos", corriendo los plazos desde que

el heredero comunique la aceptación de laherencia. En estos supuestos, será de aplicación lo

dispuesto en el párrafo 1 del artículo 64 de la Lev de Sociedades Anónimas. Si el adquirente o

adjudicatario fuese alguna de las personas a quienes puedan transmitirse libremente conforme al

apartado "Intervivos será válida la transmisión, sin ulteriores formalidades v con sujeción a lo

dispuesto en el mismo. Transmisión forzosa de acciones El mismo derecho de adquisición

preferente regulado en el apartado "Intervivos" de este articulo se aplicará en caso de adquisición

en procedimiento judicial o administrativo de ejecución, iniciándose el cómputo de los plazos desde

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el momento en que el rematante o adjudicatario comunique su adquisición a la Administración, con

respeto en tal caso, a lo dispuesto en el párrafo 2° del articulo 64 de la Ley de Sociedades

Anónimas. Si el adquirente o adjudicatario fuese alguna de las personas a quienes puedan

transmitirse librementeconforme al apartado " Interivos", será válida la transmisión, sin ulteriores

formalidades y con sujeción a lo dispuesto en el mismo. General (a) En el caso de que cambien los

términos y condiciones relativas a la oferta de adquisición deberá de hacerseotra oferta siguiendo

los tramites referidos en el apartado " Intervivos" de este articulo. (b) Todas las referencias hechas a

la transmisión por enajenación son también de aplicación a cualquier otra clase de acto o contrato

de transmisión o suscripciónde las acciones. (c) El derecho de preferente adquisición regulado en

este artículo resulta también de aplicación en los supuestos de transmisión de Autocartera por parte

de la Sociedad, pero 110 ,1 las adquisiciones de acciones propias que realice ésta.(ti) Talas las

referencias hechas a la transmisión de acciones son también aplicables a cualesquiera títulos o

derechos que faculten para la suscripción o adquisición de acciones. La Sociedad no reputará

válida ninguna transmisión de acciones y de derechos de suscripción u otros títulos convertibles en

acciones que infrinja las disposiciones de este articulo. -Título III Obligaciones Artículo 16.- Emisión

de Obligaciones La Sociedad podrá emitir series numeradas de obligaciones u otros valores, que

reconozcan o creen una deuda, siempre que el importe total de las emisiones no sea superior al

Capital Social desembolsado, más las reservas que figuren en el último balance aprobado y las

cuentas de regularización y actualización de balances, cuando hayan sido aceptadas por el

Ministerio de Economía y Hacienda. - Título IV Régimen v Administración de la Sociedad Artículo

17.- Oréanos de la Sociedad Los órganos rectores de la Sociedad son: (a) La junta General de

Accionistas. (b) El Consejo de Administración. Artículo 18.- junta General La junta General,

debidamente convocada y constituida, representará a todos los accionistas y sus decisiones serán

obligatorias para todos ellos, en relación a los asuntos propios de su competencia, incluso para los

disidentesy no asistentes a la reunión, sin perjuicio de los derechos de impugnación establecidos en

la Ley. Artículo 19.- Clases de Juntas Generales Las juntas Generales de accionistas podrán ser

Ordinarias o Extraordinarias. La Junta General Ordinaria se reunirá necesariamente dentro de los

seis primeros meses de cada ejercicio, para censurar la gestión social, aprobar, en su caso, las

cuentas del ejercicio anterior y resolver sobre la aplicación del resultado. Toda Junta que no sea la

prevista en el párrafo anterior tendrá la consideración de junta General Extraordinaria. Artículo 20.-

Convocatoria v Constitución de las Juntas Generales Convocatoria Las juntas Generales serán

convocadas por la Administración, mediante anuncio publicado en el Boletín Oficial del Registro

Mercantil y en uno de los diarios de mayor circulación en la provincia donde la Sociedad tenga su

domicilio social, con al menos quince (15) días de antelación a la fecha fijada para su celebración,

salvo para tratar de la fusión o escisión de la Sociedad, en cuyo caso, la antelación mínima será de

un (1)mes. El anuncio de convocatoria expresará el carácter de ordinaria o extraordinaria, la fecha v

el lugar de celebración y todos los asuntos que hayan de tratarse. Podrá, asimismo, hacerse

constar la fecha en la que, si procediera, se reunirá la junta en segunda convocatoria. Entre la

primera y segunda reunión deberá mediar, por lo menos, un plazo de veinticuatro (24) horas. Si la

hurta General, debidamente convocada, no se celebrara en primera convocatoria, ni se hubiese

previsto en el anuncio la fecha dela segunda, deberá ésta ser anunciada, con los mismos requisitos

de publicidad que la primera, dentro de los quince días siguientes a la fecha de la junta no

celebrada y con ocho (S) días de antelación a la fecha de la reunión. La Administración

deberá,asimismo, convocarla cuando lo soliciten socios que sean titulares de, al menos el 5 por 100

del Capital Social, expresando en la solicitud los asuntos a tratar en la Junta. En este caso, deberá

celebrarse dentro de los treinta dias siguientes a la fechaen que se hubiere requerido

notarialmennte al mismo para su convocatoria. Por lo que se refiere a la convocatoria judicial de las

Juntas, se estará a lo dispuesto en la Ley . Constitución La Junta General, Ordinaria o

Extraordinaria, quedará válidamente constituida, en primera convocatoria, cuando los accionistas

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presentes o representados, posean al menos el 25 por 100 del capital suscrito con derecho a voto, y

en segunda convocatoria,.cualquiera que sea el capital concurrente. No obstante, para que la junta

General, Ordinaria o Extraordinaria, pueda acordar válidamente el aumento o la reducción del

capital social, la transformación, la fusión o escisión v, en general, cualquier modificación de los

Estatutos Sociales, será necesaria, en primera convocatoria, la concurrencia de accionistas

presentes o representados que posean, al menos, el 50 por 100 del capital suscrito con derecho a

voto. En segunda convocatoria será suficiente el 25 por 100 de dicho capital. Junta universal La

Junta General se entenderáen todo caso convocada y quedará válidamente constituida para

conocer y resolver cualquier asunto, siempre que esté presente todo el Capital Social y los

asistentes acepten por unanimidad su celebración. Articulo 21.- Legitimación vara asistir a las

Juntas Tendrán derecho a concurrir con voz v voto a las Juntas Generales, así ordinarias corno

extraordinarias, los titulares de acciones que las tengan inscritas en el Libro Registro de Acciones

nominativas con cinco (5) días de antelación a aquél en que haya de celebrarse la Junta. Antes de

entrar en el Orden del Día se formará la Lista de Asistentes, expresando el carácter o

representación de cada uno y el número de acciones propias o ajenas con que concurran. Al final

de la Lista se determinará el número de accionistas presentes o representados, así como el importe

del capital del que sean titulares, especificando el que corresponde a los accionistas con derecho

de voto. Artículo 22.- Representación para asistir a las juntas Todo accionista que tenga derecho

de asistencia podrá hacerse representar en la Junta por medio de otra persona, aunque ésta no sea

accionista. La representación deberá conferirse por escrito y con carácter especial para cada junta,

en los términos y con el alcance establecidos en la Ley de Sociedades Anónimas. Las restricciones

a la representación no serán aplicables cuando el representante sea cónyuge, ascendiente o

descendiente del representado; nitampoco cuando aquél ostente poder general conferido en

escritura pública con facultades para administrar todo el patrimonio que el representado tuviere en

territorio nacional. La representación es siempre revocable y la asistencia personal del representado

a la Junta tendrá el valor de revocación. Artículo 23.- Derecho de Información Los accionistas

podrán solicitar por escrito, con anterioridad a la reunión de la junta o verbalmente durante la

misma, los informes o aclaraciones que estimen precisos acerca de los asuntos comprendidos en el

Orden del Día. La Administración estará obligada a proporcionárselos, salvo en los casos en que, a

juicio del Presidente, la publicidad de los datos solicitados perjudique los intereses sociales. Esta

excepción no procederá cuando la solicitud esté apoyada por accionistas que representen, al

menos, la cuarta parte del capital social. Artículo 24.- Designación de cargos en la junta General En

las juntas Generales de todas clases con excepción en su caso de la convocada judicialmente

actuarán como Presidente y Secretario quienes ocupen dichos cargos en el seno del Consejo de

Administración. En su defecto serán presididas por el Administrador de más edad v actuará de

Secretario el Administrador más joven, y en su defecto por la persona o personas que elijan los

accionistas asistentes a la reunión. El Presidente dirigirá la reunión y resolverá las dudas

reglamentarias que se susciten El Secretario podrá ser persona no accionista, en cuyo caso tendrá

voz pero no voto. Articulo 25.- Mayorías para la Adopción de Acuerdos Con carácter general, los

acuerdos de la junta se adoptarán con el voto favorable de la mayoría del capital, presente o

representado. Por excepción a lo anterior: (a) Para que la junta General, Ordinariao Extraordinaria,

pueda adoptar válidamente acuerdos de transformación y, en general, cualquier otra modificación

de los Estatutos Sociales no incluida en el apartado (b ) siguiente, siempre que la Junta se celebre

en segunda convocatoria v concurran accionistas que representen menos del cincuenta por ciento

del capital suscrito con derecho a voto, los acuerdos se adoptarán con el voto favorable de las dos

terceras partes del Capital Social presente o representado en la Junta. (b) Para que la Junta

General, Ordinaria o Extraordinaria, pueda acordar válidamente el aumento o reducción de capital

(salvo cuando sean obligatorios de conformidad con la legislación vigente) la fusión o escisión y la

emisión de obligaciones simples o convertibles, será necesaro, en primera convocatoria, el voto

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favorable de al menos el 75 por 100 del Capital Social suscrito con derecho a voto y, en segunda

convocatoria, al menos el 70 por 100 deI mismo. La misma mayoría reforzada será requerida para

la modificación de lo dispuesto en el presente apartado (b) del artículo 25 de los Estatutos Sociales.

Artículo 26.- Contenido de los Acuerdos En las juntas Generales, sean ordinarias como

extraordinarias, no se podrá tratar ni resolver sobre otros asuntos que los expresados en la

convocatoria o en el Orden del Día aprobado por unanimidad, si se tratare dejunta Universal. Se

exceptúa de lo dispuesto en el párrafo anterior, los acuerdos relativos a la separación de los

administradores y a la acción social de responsabilidad, que pueden ser adoptados por la Junta

General en cualquier momento. Artículo 27.- El Acta de la Junta El Acta de la Junta podrá ser

aprobada por la propia junta a continuación de haberse celebrado ésta, siendo firmada por el

Presidente v el Secretario, o en su defecto, dentro del plazo de quince días, por el Presidente vdos

Interventores, uno en representación de la mayoría v otro por la minoría. El Acta aprobada en

cualquiera de estas dos formas tendrá fuerza ejecutiva a partir de la fecha de su aprobación. Las

Certificaciones de las Actas serán expedidas y los acuerdos se elevarán a públicos por las personas

legitimadas para ello, según lo que determinan estos Estatutos y el Reglamento del Registro

Mercantil. La Administración podrá requerir la presencia de Notario para que levante Acta de la

Junta, y estará obligadoa hacerlo siempre que con cinco días de antelación al previsto para su

celebración lo soliciten accionistas que representen, al menos, el 1 por 100 del Capital Social. En

ambos casos, el Acta Notarial tendrá la consideración de Acta de la junta. Artículo 28.-

Impugnación de los Acuerdos Sociales Los acuerdos adoptados por las juntas Generales podrán

ser impugnados en los casos y mediante los procedimientos establecidos por la Ley. De la

Administración Social Artículo 29.- Composición del Consejo de Administración La Sociedad será

administrada, regida v representada con las más amplias facultades que en derecho procedan,

salvo las que competen a la junta General con arreglo a la Leyv a estos Estatutos, por un Consejo

de Administración compuesto un número entre tres (3) y nueve (9) miembros. Artículo 30. Duración

de cargos Los consejeros nombrados desempeñarán su cargo por un plazo de cinco (5) arios como

máximo, sin perjuicio de su reelección, así como de la facultad de la junta General de proceder en

cualquier tiempo y momento a la destitución de los mismos de conformidad a lo establecido en la

Ley y en estos Estatutos. Si durante el plazo para el que fueron nombrados los Consejeros se

produjesen vacantes, el Consejo podrá designar entre los accionistas las personas que hayan de

ocuparlas hasta que se reúna la primera Junta General. Artículo 31.- Designación de cargos en el

Consejo de Administración El Consejo de Administración nombrará de su seno al Presidente y

podrá nombrar si así lo acuerda a un Vicepresidente 1°, que sustituirá al Presidente en caso de

vacante, ausencia o enfermedad. y, en su caso, un Vicesecretario 2°, que sustituirá al Presidente y

Vicepresidente 1° en caso de vacante, ausencia o enfermedad de aquéllos. También designará a la

persona que ostente el cargo de Secretario y de Vicesecretario. Para ser nombrado Presidente,

Vicepresidente 1° y Vicepresidente 2° será necesario que la persona designada sea miembro del

Consejo de Administración, circunstancia que no será necesaria en las personas que se designen

para ostentar el cargo de Secretario y Vicesecretario, en cuyo caso éstos tendrán voz pero no voto.

Artículo 32.- Facultades del Consejo de Administración Compete al Consejo de Administración, la

representación v la suprema dirección y administración de la Compañía en juicio o hiera de él, de

todos los actos comprendidos en el objeto social delimitado en estos Estatutos, así como de todas

aquellas actuaciones exigidas por la Ley y estos Estatutos v sin perjuicio de los actos reservados

expresamente por los mismos a la junta General. Artículo 33.- Funcionamiento del Consejo de

Administración El Consejo de Administración, que celebrará al menos una (1) reunión cada

trimestre, se reunirá cuando lo requiera el interés de la Sociedad, por iniciativa de su Presidente, y

en su defecto por quien haga sus veces, o a petición de, al menos, dos (2) consejeros, en cuyo

caso el Presidente convocará el Consejo en un plazo de diez días desde la solicitud. El Consejo

deberá ser convocado mediante notificación personal a cada uno de los Consejeros, indicando el

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Orden del Día y adjuntando la documentación que haya de ser objeto de debate, con una antelación

mínima de siete (7) días hábiles a la fecha de la sesión, salvo que todos los consejeros, por

unanimidad, excusen el cumplimiento de dichos requisitos al inicio de la sesión. El Consejo quedará

válidamente constituido cuando concurran a la reunión, presentes o representados por otro

Consejero, la mitad mas uno de sus miembros. La representación se conferirá mediante carta

dirigida al Presidente. Los acuerdos del Consejo se adoptarán por mayoria absoluta de los

asistentes a la reunión, salvo para el supuesto de delegación de facultades, el] que se estará a lo

dispuesto en el articulo 36. Cada consejero tendrá un (1) voto. En caso de empate decidiráel voto

personal de quien fuera Presidente. Sin perjuicio de lo indicado en los párrafos anteriores, cuando la

Ley así lo autorice, podrán adoptarse acuerdos por escrito y sin sesión, ajustándose a los requisitos

y formalidades establecidos en el Reglamento del Registro Mercantil. La votación por escrito y sin

sesión sólo será admitida cuando ningún consejero se oponga a este procedimiento. De las

sesiones del Consejo de Administración, se levantará acta, que firmarán, por lo menos, el

Presidente y Secretario, v serán transcritas o recogidas, conforme a la normativa legal, en un Libro

especial de Actas del Consejo. Las actas se aprobarán por el propio Consejo de Administración, al

final de la reunión o en otra posterior. Artículo 34.- Ejercicio del Cargo Los miembros de la

administración social desempeñarán su cargo con la diligencia de un ordenado empresario y

representante legal. Deberán guardar secreto sobre las informaciones de carácter confidencial, aun

después de cesar en sus funciones. Artículo 35.- Retribución de los administradores El Organo de

Administración estará remunerado con una cantidad dineraria fija que determinará la Junta General

de Accionistas, cada año, y será compatible con la percepción de cualquier otra remuneración por

otro concepto. La junta General establecerá, asimismo, las reglas de devengo y pago de esta

retribución. Corresponderá al Consejo de Administración graduar la remuneración que haya de

percibir cada uno de sus miembros, en función de su dedicación a la administración de la Sociedad.

Artículo 36.- Delegación de facultades El Consejo de Administración podrá designar de su seno

una Comisión Ejecutiva d uno o más Consejeros Delegados, sin perjuicio de los apoderamientos

que pueda conferir a cualquier persona. En ningún caso podrán ser objeto de delegación la

rendición de Cuentas y la presentación de Balances a la junta General, ni las facultades que ésta

concede al Consejo, salvo que fuese expresamente autorizado por ella. La delegación permanente

de algunas o todas sus facultades legalmente delegables en la Comisión Ejecutiva o en uno o más

Consejeros Delegados, y la designación de los Administradores que hayan de ocupar tales cargos,

requerirá para su validez el voto favorable de los dos tercios dé los componentes del Consejo, y no

producirán efecto alguno hasta su inscripción en el Registro Mercantil. - Título V Balances Artículo

37.- Ejercicio Social El ejercicio social abarcará el tiempo comprendido entre el primero de enero a

31 de diciembre de cada año. Artículo 38.- Documentación Contable La Sociedad deberá llevar una

contabilidad ordenada, adecuada a la actividad de su Empresa, que permita un seguimiento

cronológico de las operaciones, así como la elaboración de inventarios y balances. Los libros de

contabilidad serán legalizados por el Registro Mercantil correspondiente al lugar del domicilio social.

Artículo 39.- Cuentas Anuales La Administración deberán formular en el plazo máximo de tres (3)

meses a contar del cierre del ejercicio social, las Cuentas Anuales, el informe de Gestión y la

propuesta de Aplicación del resultado. Las Cuentas Anuales comprenderán el Balance, la Cuenta

de Pérdidas y Ganancias y In Memoria. Estos documentos, que forman una unidad, deberán ser

red; citados con claridad mostrar la imagen fiel del patrimonio, de la situación financiera y de los

resultados de. la Sociedad, de conformidad con las disposiciones legales, y deberán estar firmados

por la Administración de la Compañía. A partir de la convocatoria de la Junta, cualquier accionista

podrá obtener de la Sociedad, de forma inmediata y gratuita, los documentos que han de ser'

sometidos a la aprobación de la misma y el informe de los Auditores de Cuentas. El anuncio de la

Junta mencionará expresamente este derecho. Artículo 40.- Contenido de las Cuentas Anuales El

Balance comprenderá, con la debida separación, los bienes y derechos que constituyen en activo

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de la Empresa y las obligaciones que forman el pasivo de la misma, especificando los fondos

propios. La estructura del Balance se ajustará a la establecida en la Ley de Sociedades Anónimas y

demás disposiciones legales de aplicación. La Cuenta de Pérdidas y Ganancias comprenderá,

también con la debida separación, los ingresos y gastos del ejercicio, debiendo ajustarse a la

estructura prevista en la Ley de Sociedades Anónimas y demás disposiciones legales de aplicación.

La Memoria completará, ampliará y comentará la información contenida en el Balance y la Cuenta

de Pérdidas y Ganancias. La Memoria contendrá las indicaciones previstas en la Ley de

Sociedades Anónimas v demás disposiciones legales de aplicación. Artículo 41.- Informe de

Gestión El informe de Gestión en caso de que sea preceptivo, contendrá, al menos, una exposición

riel sobre la evolución de los negocios y la situación de la Sociedad, así como, en su caso,

información sobre los acontecimientos importantes para la Sociedad, ocurridos desde el cierre del

ejercicio, la evolución previsible de aquélla, las actividades en materia de investigación y desarrollo

y las adquisiciones de acciones propias en los términos establecidos por la Ley. Artículo 42.-

Auditores de Cuentas Las Cuentas Anuales v el Informe de Gestión deberán ser revisados por los

.Auditores de Cuentas, cuando exista obligación de auditor. Los Auditores dispondrán, como

mínimo, de un plazo de un mes a partir del momento enque les fueran entregadas las atentas por

la Administración para presentar su informe. Las personas que deban ejercer la auditoría de las

cuentas anuales serán nombradas por la Junta General antes de que finalice el ejercicio por auditar,

por un periodo de tiempo determinado, que no podrá ser inferior a tres años ni superior a nueve, a

contar desde la fecha en que se inicie el primer ejercicio a auditar. La Junta podrá designar a una o

varias personas físicas o jurídicas que actuarán conjuntamente. Cuandolos designados sean

personas físicas, la junta deberá nombrar tantos suplentes como Auditores titulares. La junta

General no podrá revocar a los auditores antes de que finalice el periodo para el que fueron

nombrados, a no ser que medie justa causa. Artículo 43.- Aprobación de las Cuentas Anuales Las

Cuentas Anuales se aprobarán por la junta General Ordinaria de Accionistas, la cual resolverá

sobre la aplicación del resultado del ejercicio, de acuerdo con el Balance cerrado. Artículo 44.-

Deposito de las Cuentas Anuales Dentro del mes siguiente a la aprobación de las Cuentas Anuales,

se presentarán éstas con la demás documentación que exige la Ley de Sociedades Anónimas y

junto con la oportuna certificación acreditativa de dicha aprobación y aplicación del resultado, para

su depósito en el Registro Mercantil en la forma que determina la Ley. Artículo 45.- Aplicación de

Resultados Anuales De los beneficios líquidos obtenidos en cada ejercicio, una vez cubierta la

dotación para Reserva Legal, y demás atenciones legalmente establecidas, la Junta podrá destinar

la suma que estime conveniente a Reserva voluntaria, o cualquier otra atención legalmente

permitida. El resto, en su caso, se distribuirá entre los socios como dividendos en la proporción

correspondiente al capital que hayan desembolsado, realizándose el pago en el plazo que

determine la propia junta. Los dividendos no reclamados, en el término de cinco años desde el día

señalado para su cobro, prescribirán en favor de la Sociedad. En general, una vez cubiertas las

atenciones previstas por la Ley, sólo podrán repartirse dividendos con cargo al beneficio del

ejercicio o a reservas de libre disposición, si el valor del patrimonio neto contable no es o, a

consecuencia del reparto no resulta ser inferior al Capital Social. Si existieran pérdidas de ejercicios

anteriores, que hicieran que esevalor del patrimonio neto de la Sociedad fuera inferior a la cifra del

Capital Social, el beneficio se destinará a la compensación de estas pérdidas. Igualmente se tendrá

en cuenta lo previsto en el articulo 194 de la Ley. Artículo 46.- Cantidades a cuenta de Dividendos

La Junta General o la Administración podrá acordar la distribución de cantidades a cuenta de

dividendos con las limitaciones y cumpliendo los requisitos establecidos en la Ley. - Título VI

Disolución v Liquidación Artículo 47.- Causas de Disolución La Sociedad se disolverá: (a) Por

acuerdo de la junta General de accionistas convocada expresamente para ello v adoptado de

conformidad a lo dispuesto en estos Estatutos. (b) En cualquiera de los demás casos legalmente

previstos en la Ley de Sociedades Anonimas. Artículo 48.- Liquidación La misma junta General que

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acuerde la disolución de la Sociedad determinará las bases de la liquidación, que se practicará por

un número impar de liquidadores, designados al efecto por la junta General. Desde el momento en

que lasociedad se declare en liquidación, cesará la representación de la Administración para hacer

nuevos contratos y contraer nuevas obligaciones, asumiendo los liquidadores las funciones a que

se refiere el articulo 272 de la Ley de Sociedades Anónimas. Parael desarrollo de la liquidación,

división del haber social y cancelación registral, se estará a lo dispuesto en la Lev de Sociedades

Anónimas y Reglamento del Registro Maercantil. - Título VII Divergencias: Competencia Artículo

49.- Arbitraje Todas las cuestiones societarias litigosas que se susciten entre la Sociedad y sus

administradores o socios, se soemten al arbitraje institucional del TRIBUNAL DE BARCELONA,

encargandose la designacion de arbitros y administracion del arbitraje de acuerdo con su

reglamento, y siendo de obligado cumplimiento su laudo arbitral. Se exceptuán de esta sumusion

aquellas cuestiones que esten fuera del poder de disposicion de las partes. Titulo VII

INCOMPATIBILIDADES Articulo 50.Queda prohibido que ocupen cargos en la sociedad y en su

caso ejercerlos, a las personas declaradas incimpatibles en la medida y condiciones fijdas por la

ley 12 /1995 de 11 de mayo y otras de caracter especial,asi como a los que esten incursos en las

prohibiciones del articulo 124 de la Ley de Sociedades Anonimas.

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English translation of this registration:

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***** TRANSLATED BY USING GOOGLE TRANSLATOR *****

BARCELONA'S MERCANTIL REGISTRY

Issued on the day: 10/11/2017 at 09:45.

STATUTES

GENERAL DATA

Name: MARITIMA DEL MEDITERRANEO SA

Start of Operations: 11/19/1963

Registered Office: PS DE LA ZONA FRANCA, 111, TORRE AUDITORI BARCELONA

Duration: Timeless

C.I.F .: A08148710

Registration Data: Sheet B-55910 Volume 46008 Folio 181

Corporate Purpose: Article 2.- Corporate Purpose The purpose of the Company consists of: mediation in maritime or air transport or in the others related to them, whether as shippers, shipowners, freight forwarders, maritime agents, ship consignees or intermediary agents in charters; the representation of any companies or lines of navigation, aviation or other transportation, both domestic and foreign; the purchase and sale of ships or their accessories; exports and imports, as well as commercial representations of all kinds of products. ii) the holding of shares or participations in companies or companies engaged in transportation in general, by air, sea or land. iii) the receipt, loading, stowage, unloading, unloading, delivery, storage and classification of goods and; iv) the acquisition, sale, use and lease of real estate and construction and real estate exploitation in general. The Company may develop the activities forming part of the corporate purpose, specified in the sections of the previous paragraph, in whole or in part, indirectly or through the ownership of shares and / or interests in companies with identical or similar purposes.

C.N.A.E .: 5222-Activities annexed to maritime transport and inland waterways

Organ structure: Board of Directors

Unipersonality: The society of this sheet is unipersonal, being its sole partner NOATUM MARITIME HOLDINGS SL, with N.I.F: B85960722

Last accounting deposit: 2015

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PRESENTATION SEATS IN FORCE

Journal of documents (Data updated on 11/10/2017, at 09:00 hours)

Journal: 1273

Seat: 3013

Filing date: 10/30/2017

Date of writing: 10/27/2017

Notary: J.M. GARCIA LOMBARDIA

Residence: MADRID

Protocol: 4758

This document has been submitted on 10/30/2017

The document contains the following acts:

-DESIGNATION CHARGES

-CEASE OF CHARGES

Journal: 1273

Seat: 3014

Filing date: 10/30/2017


Notary: J.M. GARCIA LOMBARDIA

Residence: MADRID

Protocol: 4757



-SINGLE PARTNER CHANGE

Journal: 1274

Seat: 1597

Presentation date: 11/09/2017


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Notary: L.F. PAZOS PEZZI

Residence: BARCELONA

Protocol: 1956



-CHANGE ON REPRESENTAVE

Journal of accounts (Data updated on 08/11/2017, at 5:00 p.m.)

Daily / Seat: 1017/2028


Journal of books (Data updated on 07/11/2017, at 5:00 p.m.)

Daily / Seat: No current filing entries

SPECIAL SITUATIONS

Project deposit

Deposited merger project of the company of this sheet dated 26/09/2017.

STATUTES

STATUTES: - Title 1. Legal Regime, Denomination, Object, Duration and Domicile Article 1. Legal Regime and Denomination. The present Company is commercial, in an anonymous form and therefore, of limited responsibility to its Capital, it turns under the denomination of "Marítima del Mediterráneo, S.A." and it will be governed by these Statutes and as far as they are not foreseen, by the Law of Public Limited Companies and other applicable legal provisions. Article 2.- Corporate Purpose The purpose of the Company consists of: mediation in maritime or air transport or in the others related to them, whether as shippers, shipowners, freight forwarders, maritime agents, ship consignees or intermediary agents in charters; the representation of any companies or lines of navigation, aviation or other transportation, both domestic and foreign; the purchase and sale of ships or their accessories; exports and imports, as well as commercial representations of all kinds of products. ii) the holding of shares or participations in companies or companies engaged in transportation in general, by air, sea or land. iii) the receipt, loading, stowage, unloading, unloading, delivery, storage and classification of goods and; iv) the acquisition, sale, use and lease of real estate and construction and real estate exploitation in general. The Company may develop the activities forming part of the corporate purpose, specified in the sections of the previous paragraph, in whole or in part, indirectly or through the ownership of shares and / or interests in companies with identical or similar purposes. "ARTICLE 3.- The registered office is located in Barcelona, Passeig de la Zona Franca No. 111, Auditori Tower The Board of Directors is the body authorized to create, suppress or transfer, agencies, deposits, representations, delegations

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and branches, in any point of Spain and abroad, as well as to agree on the transfer of the registered office within the same population.To move the domicile to another municipal term will require the agreement of the General Shareholders' Meeting. " Article 4.- Duration The duration of the Company is for an indefinite period, and it will start its activity on the date of granting the deed of incorporation. -Title IICapital and Shares Article 5.- Share Capital and Shares The Share Capital is 694,168.98 euros and is represented by 11,550 nominative ordinary shares, each with a par value of 60,101210 euros, fully subscribed and paid up , numbered correlatively from 1 to 11,550, both inclusive. Article 6.- Securities The shares will be represented by nominative titles, which may be multiple, cut off from talonarios books and numbered correlatively. The title of each share will contain the mentions indicated as minis in the Lev of Public Limited Companies and in any other legal provision that may be applicable, as well as, where applicable, the circumstance that the shares are non-voting or that include ancillary benefits. . Article 7.- Provisional Reserves The Company may issue provisional safeguards before the issuance of the definitive titles. As far as applicable, the provisions of articles 53, 55 and 58 of the Law, of Public Limited Companies for provisional safeguards, as well as any other applicable legal provisions, will be observed. Article 8º.- Share Registration Book The shares will appear in a Registration Book that will be kept by the Company, in which the successive transfers of the shares will be registered with the expression of the name, surnames, reason or company name, where applicable, nationality and domicile. of the successive holders, as well as the real rights and other encumbrances on those actually constituted. The Company will only consider a shareholder to whom it is inscribed in said book. Any shareholder who so requests may examine the Register Book of registered shares. The Company may only rectify the registrations that it considers false or inaccurate when it has notified the interested parties of its intention to proceed in this sense and they have not expressed their opposition during the thirty days following the notification. Article 9.- Actions without Voting The General Meeting may agree on the issuance of non-voting shares for a nominal amount not exceeding half of the paid-up capital stock. Holders of non-voting shares shall be entitled to or receive a minimum annual dividend of five percent of the paid-in capital for each non-voting share; once the minimum dividend has been agreed, the holders of the non-voting shares will be entitled to the same dividend as corresponds to the ordinary shares. Article 10.- Status of Member The share confers upon its legitimate holder the status of member, and implies the submission of its holders to these Bylaws and the resolutions validly adopted by the governing bodies of the Company, at the same time as it empowers them to the exercise of the rights inherent to their condition, in accordance with these Statutes and the Law. Under the terms established in the Law, and except in the cases envisaged therein, the shareholder has, at least, the following rights: (a) To participate in the distribution of the social gains and in the patrimony resulting from the liquidation. (b) Preferential subscription in the issuance of new shares or bonds convertible into shares. (c) Attend and vote at General Meetings and challenge social agreements. The right to vote can not be exercised by the shareholder who is in default in the payment of passive dividends, nor with respect to the non-voting shares that may exist. (d) Information, in the legally established terms. Article 11. Ownership of Shares Any action of this Company is indivisible. The co-owners of an action are jointly and severally liable vis-à-vis the Company for any obligations deriving from the condition of shareholders, and must designate a single person to exercise on their behalf the rights inherent to their status as a shareholder that must be notified to the Company so that record in the Book-Register. The same rule will be applied to the other cases of co-ownership of rights over actions. Article 12.- Usufruct of Shares In the case of usufruct of shares, the status of shareholder resides in the joint owner, but the usufructuary will be entitled in any

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case to the dividends agreed by the Company during the usufruct. The usufructuary is obliged to facilitate the exercise of his rights to the entire owner. In the relations between the usufructuary and the joint owner, what will be determined by the constitutive title of the usufruct; failing that, the provisions of the Law of Anonymous Societies and, additionally, the Civil Code. Article 13.- Pledge of Shares In the event of a pledge of shares, the pledgee's political rights correspond to the pledgee. If the owner of the shares breaches the obligation to pay out the passive dividends, the pledgee may fulfill this obligation or proceed to the realization of the pledge. Article 14.- Seizure of Shares In the case of seizure of shares, the provisions contained in the previous article shall be observed, whenever this is possible and is not incompatible with the specific regime of the seizure. Article 15.- Restrictions on the Free Transmissibility of Interventive Actions In cases of transmissions for intervivos acts, the transmission will be free if it is done in favor of ascendants, descendants or the spouse of the transferor. Likewise, the transmissions of shares whose ownership corresponds to a Company and are carried out in favor of its dominated Company, of the parent, within the meaning of article 4 of the Securities Market Law, including transactions between any Group Company, will be free. provided that in the event that the acquiring company ceases to be a member of the Group, before leaving the latter, it transmits its shares of the Company to another member of the Group. Outside of the above cases, the shareholders will have a preemptive right to acquire the shares that are intended to be transferred for any intervivos act, silly on a lucrative basis as onerous, in proportion to the number of shares that respectively belong to this Company. In the event that indivisible fractions remain, entire shares will be awarded to those shareholders from among those who have made use of the right of preferential acquisition that prove to be entitled to a larger fraction. If shares are not acquired in whole or in part by other shareholders, those not covered may be acquired by the Company itself, within the limits and according to the requirements established in article 75 of the Law, of Public Limited Companies. For such purposes, the shareholder who wishes to sell, assign or otherwise dispose of or transfer for inter vivos acts, for consideration or gain, all or part of the shares if it is a legitimate owner, in favor of persons other than those referred to in the first and second paragraphs of this article, it must: (a) Communicate it to the. Social administration irrefutably, at the address of the Company, indicating the number of shares other titles that eat the right to subscription that you wish to transmit, their numbering, price, terms of payment and buyers. (b) The Company's Administration, within a period of fifteen (15) calendar days following the receipt of the letter, must transmit the offer of sale to the other shareholders, in a reliable manner if its address is known, and not be, by means of an announcement inserted in one of the newspapers with the largest circulation in the province where the Company has its registered office. (c) Shareholders wishing to acquire the shares or offered Mules, must indicate this by means of a reliable notification to the Admirúsh "ación within the thirty calendar days following receipt of the notification, or, where appropriate, the date of publication of the announcement, and must express their interest in acquiring a higher number of shares if the other shareholders renounce their right to preferential acquisition, partially or totally, proportionally recognizing the right to accrue (d) If there is conformity in the price the sale will be made, in favor of the s shareholders who have expressed their desire to acquire the shares or securities offered in proportion to the shares held by the Company at the time of the sale. In the event that any of the "shareholders" is not willing to acquire the shares offered or manifests its desire to acquire a smaller number than it would correspond, the remaining shareholding buyers, if they so manifest, may acquire the remaining pro rata of their participation in The Share Capital (e) In the event that the offers of acquisition presented by the shareholders do not cover all of the shares offered for sale, or in the event that no

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shareholder manifests his desire to acquire them within the period established for that purpose. , if the Administration considers that the acquisition of the shares by the buyer indicated by the selling shareholder, may cause serious damage to the Company, may call the shareholders to hold the Extraordinary General Shareholders' Meeting on the terms established in these Bylaws. which decides the convenience of proceeding by the Company to the acquisition of shares offered, with formal compliance with the provisions of the Public Limited Companies Law for the acquisition of own shares by the Company. The term for the exercise of the provisions of the previous paragraph shall be forty p five (45) calendar days, counting from the last day of the term in which the shareholders may express their desire to acquire the shares. (f) After the appropriate period according to the preceding paragraphs, the bidding shareholder will receive a Certification issued by the Administration in which he will be notified of the result of the offer received, empowering him to sell his shares to the shareholder who has exercised his acquisition right preferred, either to the Company, or finally to the buyer, expressed in its offer for the price indicated therein or agreed. Said certification will be valid for six months from its issuance. (g) For the exercise of this preferential acquisition right, the purchase price, if the shareholders will manifest their discrepancy with the bid, will be determined by the Auditor of the Company and, if the latter is not required to verify the Annual Accounts, the auditor who, at the request of any interested party, designates the Commercial Registrar of the registered office. In no case may said price be lower,) its real value. Mortis causa and persons linked to the shareholder For the transfer of the shares due to the transfer, the procedure provided in the section "Intervivos" will be followed, with the terms running from the moment the heir communicates the acceptance of the herencia. In these cases, the provisions of paragraph 1 of article 64 of the Lev de Sociedades Anónimas shall apply. If the acquirer or awardee is one of the persons to whom they can be freely transferred according to the section "Intervivos, the transfer will be valid, without further formalities and subject to the provisions of the same." Forced transfer of shares The same right of preferential acquisition regulated in The section "Intervivos" of this article will be applied in case of acquisition in judicial or administrative procedure of execution, beginning the computation of the terms from the moment in which the auctioneer or contractor communicates its acquisition to the Administration, with respect in that case, to the provisions of paragraph 2 of Article 64 of the Public Limited Companies Act. If the purchaser or awardee is one of the persons to whom they may be freely transferred according to the "Interims" section, the transfer shall be valid, without further formalities and subject to the provisions thereof. General (a) In the event that the terms and conditions relating to the acquisition offer change, another offer must be made following the procedures referred to in the "Intervivos" section of this article. (b) All references made to the transfer by sale are also applicable to any other type of act or contract of transmission or subscription of the shares. (c) The right of preferential acquisition regulated in this article is also applicable in the cases of transmission of treasury stock by the Company, but 110, 1 the acquisitions of own shares that it carries out. (ti) Talas the references made to the transfer of shares are also applicable to any securities or rights that enable the subscription or acquisition of shares. The Company will not consider valid any transfer of shares and subscription rights or other securities convertible into shares that violate the provisions of this article. -Title III Obligations Article 16.- Issuance of Obligations The Company may issue numbered series of obligations or other securities that recognize or create a debt, provided that the total amount of the issues does not exceed the paid-up capital stock, plus the reserves that they appear in the last approved balance and the regularization and balance sheet update accounts, when they have been accepted by the Ministry of Economy and Finance. - Title IV Regime and Administration of the Company Article

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17.- Oranges of the Company The governing bodies of the Company are: (a) The General Meeting of Shareholders. (b) The Board of Directors. Article 18.- General Meeting The General Meeting, duly called and constituted, will represent all the shareholders and their decisions will be binding for all of them, in relation to matters within their competence, including for dissidents and non-attendees of the meeting, without prejudice of the rights of challenge established in the Law. Article 19.- Classes of General Meetings General meetings of shareholders may be Ordinary or Extraordinary. The Ordinary General Meeting will necessarily meet within the first six months of each year, to censor the social management, approve, where appropriate, the accounts of the previous year and decide on the application of the result. Any Meeting other than that provided for in the preceding paragraph shall be considered as an Extraordinary General Meeting. Article 20. Calling v Constitution of the General Meetings Calling General Meetings shall be convened by the Administration, by means of an announcement published in the Official Gazette of the Mercantile Registry and in one of the newspapers with the largest circulation in the province where the Company has its registered office, at least fifteen (15) days prior to the date set for its holding, except to deal with the merger or division of the Company, in which case, the minimum notice shall be one (1) month. The call announcement will express the character of ordinary or extraordinary, the date and venue and all the matters to be discussed. The date on which, if applicable, the meeting will meet on second call may also be recorded. Between the first and second meetings, there must be a period of at least twenty-four (24) hours. If the General theft, duly summoned, was not held on the first call, nor had the date of the second been foreseen in the announcement, it must be announced, with the same publicity requirements as the first, within fifteen days after the date of the meeting not held and eight (S) days before the date of the meeting. The Administration must also convene it when requested by partners who are holders of at least 5% of the Share Capital, expressing in the request the matters to be discussed at the Meeting. In this case, it must be held within thirty days of the date on which it was notarially requested to be convened. With regard to the judicial convocation of the Boards, the provisions of the Law shall apply. Constitution The General Meeting, Ordinary or Extraordinary, will be validly constituted, in first call, when the shareholders present or represented, own at least 25% of the subscribed capital with voting rights, and on second call, whatever the competing capital. However, for the General, Ordinary or Extraordinary meeting to validly agree on the increase or reduction of the share capital, the transformation, the merger or split and, in general, any modification of the Bylaws, will be necessary, in the first call , the concurrence of shareholders present or represented who own at least 50% of the subscribed capital with the right to vote. In the second call 25% of said capital will be sufficient. Universal Board The General Meeting will be understood in every case convened and will be validly constituted to hear and resolve any matter, provided that all of the Share Capital is present and the attendees unanimously accept its holding. Article 21.- Legitimation will be able to attend the Meetings. They will have the right to attend, with voice and vote, the General Meetings, both ordinary and extraordinary, holders of shares that have registered them in the Register of Registered Shares with five (5) days of before the one in which the Meeting is to be held. Before entering the Agenda, the List of Assistants will be formed, expressing the character or representation of each one and the number of own or third-party shares with which they attend. At the end of the List, the number of shareholders present or represented will be determined, as well as the amount of the capital of which they are owners, specifying the one that corresponds to the shareholders with the right to vote. Article 22.- Representation to attend meetings Any shareholder who has the right to attend may be represented at the Meeting by another person, even if the latter is not a shareholder. The

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representation must be conferred in writing and with a special character for each meeting, in the terms and with the scope established in the Public Limited Companies Act. Restrictions on representation will not be applicable when the representative is the spouse, ascendant or descendant of the principal; nitampoco when he has general power conferred in a public deed with powers to administer all the assets that the represented has in national territory. The representation is always revocable and the personal attendance of the represented to the Board will have the value of revocation. Article 23.- Right to Information Shareholders may request, in writing, prior to the meeting of the meeting or verbally during the meeting, the reports or clarifications they deem necessary about the matters included in the Agenda. The Administration shall be obliged to provide them, except in cases in which, in the opinion of the President, the publicity of the data requested damages the social interests. This exception shall not apply when the request is supported by shareholders representing at least one quarter of the share capital. Article 24.- Appointment of positions in the General Meeting In the General Meetings of all classes, except in the case of the one summoned by the courts, the Chairman and Secretary shall act in those positions within the Board of Directors. Failing that, they will be presided over by the oldest Administrator and the youngest Administrator will act as Secretary and, failing that, by the person or persons chosen by the shareholders attending the meeting. The Chairman will direct the meeting and resolve any regulatory doubts that may arise. The Secretary may be a non-shareholder, in which case he will have a voice but not a vote. Article 25.- Majorities for the Adoption of Agreements In general, the resolutions of the meeting will be adopted with the favorable vote of the majority of the capital, present or represented. By exception to the foregoing: (a) So that the General, Ordinary and Extraordinary Shareholders' Meeting can validly adopt transformation agreements and, in general, any other amendment to the Bylaws not included in section (b) below, provided that the Board it is held on second call and there are shareholders representing less than fifty percent of the subscribed capital with the right to vote, the resolutions will be adopted with the favorable vote of two thirds of the Share Capital present or represented at the Meeting. (b) In order for the Ordinary or Extraordinary General Meeting to validly agree on the capital increase or reduction (except when they are mandatory in accordance with current legislation), the merger or split and the issuance of simple or convertible debentures will be necessary, in the first call, the vote favorable to at least 75 percent of the subscribed Share Capital with the right to vote and, on second call, at least 70 percent of the same. The same reinforced majority will be required for the modification of the provisions of this section (b) of article 25 of the Bylaws. Article 26.- Content of the Agreements In the General Meetings, whether ordinary or extraordinary, no matter may be dealt with or resolved on other matters than those expressed in the notice or in the Agenda approved unanimously, if it is treated as Universal. Exceptions from the provisions of the previous paragraph, the agreements relating to the separation of the directors and the social action of responsibility, which may be adopted by the General Meeting at any time. Article 27.- The Minutes of the Meeting The Minutes of the Meeting may be approved by the meeting itself after it has been held, signed by the Chairman and the Secretary, or, failing that, within fifteen days, by The President v. Auditors, one representing the majority and the other representing the minority. The Minutes approved in either of these two forms will be enforceable as of the date of approval. The Certificates of the Minutes will be issued and the agreements will be raised to public by the persons entitled to do so, according to what these Bylaws and the Regulations of the Mercantile Registry determine. The Administration may require the presence of a Notary to draw up the Minutes of the Meeting, and shall be obliged to do so whenever shareholders representing at least 1% of the Share Capital request it five days in advance of the one foreseen for its celebration. In

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both cases, the Notarial Act shall be considered the minutes of the meeting. Article 28. Challenge of the Social Agreements The resolutions adopted by the General Meetings may be challenged in the cases and by the procedures established by Law. Of the Social Administration Article 29.- Composition of the Board of Directors The Company shall be administered, governed represented with the broadest powers that in law proceed, except those that fall under the General Board in accordance with the Leyv to these Statutes, by a Board of Directors composed a number between three (3) and nine (9) members. Article 30. Term of office The appointed directors shall hold office for a term of not more than five (5) years, without prejudice to their re-election, as well as the power of the General Meeting to proceed at any time and time to the dismissal of the same according to what is established in the Law and in these Statutes. If vacancies arise during the term for which the Directors were appointed, the Board may designate from among the shareholders the persons who are to occupy them until the first General Meeting is held. Article 31.- Appointment of positions in the Board of Directors The Board of Directors shall appoint the Chairman from among its members and may appoint if so agreed to a 1st Vice Chairman, who shall replace the Chairman in the event of vacancy, absence or illness. and, if applicable, a Deputy Secretary 2, who will substitute the President and Vice-president 1 ° in case of vacancy, absence or illness of those. It will also designate the person who holds the position of Secretary and Deputy Secretary. To be appointed President, Vice President 1 and Vice President 2, it will be necessary for the person appointed to be a member of the Board of Directors, a circumstance that will not be necessary in the persons appointed to hold the position of Secretary and Deputy Secretary, in which case they will have voice but not vote. Article 32.- Powers of the Board of Directors The Board of Directors shall be responsible for the representation and supreme direction and administration of the Company in a lawsuit or proceeding against it, for all acts included in the corporate purpose defined in these Bylaws, as well as for all those actions required by the Law and these Statutes and without prejudice to the acts expressly reserved by them to the General Meeting. Article 33.- Operation of the Board of Directors The Board of Directors, which will hold at least one (1) meeting each quarter, will meet when required by the interest of the Company, at the initiative of its Chairman, and failing that by anyone who does their times, or at the request of, at least, two (2) directors, in which case the Chairman shall convene the Board within ten days of the request. The Board must be convened by personal notification to each of the Directors, indicating the Agenda and attaching the documentation that is to be discussed, at least seven (7) business days before the date of the meeting, unless all the directors, unanimously, excuse compliance with these requirements at the beginning of the session. The Board will be validly constituted when a half plus one of its members attend the meeting, present or represented by another Director. The representation will be conferred by letter addressed to the President. The resolutions of the Board will be adopted by absolute majority of those attending the meeting, except in the case of delegation of powers, which will be subject to the provisions of article 36. Each director will have one (1) vote. In the event of a tie, the personal vote of the person who was President shall be decided. Without prejudice to what is indicated in the preceding paragraphs, when the Law so authorizes, resolutions may be adopted in writing and without a meeting, in accordance with the requirements and formalities established in the Regulations of the Commercial Registry. The voting in writing and without session will only be admitted when no counsel opposes this procedure. From the meetings of the Board of Directors, minutes will be drawn up, signed by at least the Chairman and Secretary, and will be transcribed or collected, in accordance with legal regulations, in a special Book of Minutes of the Board. The minutes will be approved by the Board of Directors itself, at the end of the meeting or in a later meeting. Article 34.- Exercise of the Position Members of the social

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administration shall perform their duties with the diligence of an orderly businessman and legal representative. They must keep confidential information confidential, even after ceasing their functions. Article 35.- Remuneration of administrators The Management Body shall be remunerated with a fixed monetary amount determined by the General Shareholders' Meeting, each year, and shall be compatible with the receipt of any other remuneration for another concept. The General Meeting will also establish the rules of accrual and payment of this remuneration. It will be up to the Board of Directors to graduate the remuneration that each of its members must receive, based on their dedication to the administration of the Company. Article 36.- Delegation of powers The Board of Directors may designate from its midst an Executive Committee of one or more Managing Directors, without prejudice to the powers of attorney it may confer on any person. Under no circumstances may the presentation of Accounts and the presentation of Balances to the General Meeting be delegated, nor the powers granted to the Board, unless expressly authorized by it. The permanent delegation of some or all of its powers legally delegable in the Executive Committee or in one or more Managing Directors, and the appointment of the Administrators who are to occupy such positions, will require for its validity the favorable vote of two thirds of the components of the Board, and will not produce any effect until its registration in the Commercial Register. - Title V Balances Article 37.- Fiscal Year The fiscal year shall cover the time between January 1 to December 31 of each year. Article 38.- Accounting Documentation The Company must keep an orderly accounting, appropriate to the activity of its Company, which allows a chronological monitoring of the operations, as well as the preparation of inventories and balance sheets. The accounting books will be legalized by the Mercantile Registry corresponding to the place of the registered office. Article 39.- Annual Accounts The Administration must formulate, within a maximum period of three (3) months as of the end of the fiscal year, the Annual Accounts, the Management Report and the proposal for the Application of the result. The Annual Accounts will include the Balance Sheet, the Profit and Loss Account and In Memory. These documents, which form a unit, must be a network; cited with clarity to show the faithful image of the patrimony, the financial situation and the results of. the Company, in accordance with the legal provisions, and must be signed by the Company's Management. As of the call of the Meeting, any shareholder may obtain from the Company, immediately and free of charge, the documents that must be submitted for the approval of the same and the report of the Accounts Auditors. The announcement of the Board will expressly mention this right. Article 40.- Contents of the Annual Accounts The Balance shall include, with due separation, the assets and rights that constitute assets of the Company and the obligations that form the liabilities of the same, specifying the own funds. The structure of the Balance Sheet will be adjusted to that established in the Law on Public Limited Companies and other applicable legal provisions. The Profit and Loss Account shall also include, with due separation, the income and expenses for the year, and must comply with the structure set forth in the Public Limited Companies Act and other applicable legal provisions. The Report will complete, expand and comment on the information contained in the Balance Sheet and the Profit and Loss Account. The Report will contain the indications provided in the Public Limited Companies Act and other applicable legal provisions. Article 41.- Management Report The Management Report, in case it is mandatory, shall contain, at least, a detailed statement on the evolution of the business and the situation of the Company, as well as, where appropriate, information on the events important for the Company, occurring since the end of the year, the foreseeable evolution of the former, the activities in the field of research and development and the acquisitions of own shares in the terms established by the Law. Article 42. Auditors of Accounts The Annual Accounts v The Management Report must be

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reviewed by the Account Auditors, when there is an auditor's obligation. The Auditors will have, at least, a period of one month from the moment in which they were delivered by the Administration to present their report. The persons who must exercise the audit of the annual accounts will be appointed by the General Meeting before the end of the year to be audited, for a determined period of time, which can not be less than three years or more than nine, starting from date on which the first fiscal year to be audited begins. The Board may designate one or more individuals or legal entities that will act jointly. When appointed as individuals, the board must appoint as many substitutes as regular Auditors. The General Meeting may not revoke the auditors before the end of the period for which they were appointed, unless there is just cause. Article 43.- Approval of the Annual Accounts The Annual Accounts will be approved by the Ordinary General Meeting of Shareholders, which will decide on the application of the result of the year, in accordance with the Balance Sheet. Article 44. Deposit of the Annual Accounts Within the month following the approval of the Annual Accounts, these shall be presented with the other documentation required by the Public Limited Companies Act and together with the appropriate certification of said approval and application of the result, for its deposit in the Mercantile Registry in the manner determined by the Law. Article 45.- Application of Annual Results Of the liquid benefits obtained in each year, once the provision for Legal Reserve has been covered, and other services legally established, the Board may allocate the sum that he deems appropriate to Voluntary Reserve, or any other legally permitted service. The rest, if any, will be distributed among the partners as dividends in the proportion corresponding to the capital they have paid, with the payment being made within the term determined by the meeting itself. The unclaimed dividends, within five years from the date set for their collection, shall prescribe in favor of the Company. In general, once the benefits foreseen by the Law have been covered, dividends may only be distributed with a charge to the profit for the year or to reserves of free disposal, if the value of the net accounting equity is not or, as a result of the distribution, it is not inferior to the Capital Social. If there were losses from previous years, which would make this value of the Company's net worth less than the amount of the Share Capital, the benefit will be used to offset these losses. Likewise, the provisions of article 194 of the Law shall be taken into account. Article 46.- Amounts on account of Dividends The General Meeting or the Administration may agree on the distribution of amounts on account of dividends with the limitations and complying with the requirements established in the Law. - Title VI Dissolution v Liquidation Article 47.- Causes of Dissolution The Company will be dissolved: (a) By resolution of the General Meeting of Shareholders convened expressly for this purpose and adopted in accordance with the provisions of these Bylaws. (b) In any of the other cases legally provided for in the Corporations Law. Article 48.- Liquidation The same General meeting that

The resolution of the dissolution of the Company shall determine the basis for the liquidation, which shall be carried out by an odd number of liquidators, appointed for that purpose by the General meeting. From the moment in which the corporation is declared in liquidation, the representation of the Administration to make new contracts and contract new obligations shall cease, the liquidators assuming the functions referred to in Article 272 of the Public Limited Companies Act. For the development of the liquidation, division of the social credit and cancellation of the registry, the provisions of the Corporations Law and Regulations of the Maercantil Registry will be applied. - Title VII Divergences: Competition Article 49.- Arbitration All litigious corporate issues arising between the Company and its directors or partners are subject to the institutional arbitration of the COURT OF BARCELONA, with the appointment of arbitrators and arbitration administration in accordance with its regulation, and its arbitration

Page 33 of 223

award being binding. Issues that are outside the power of disposition of the parties are excepted from this summation. Title VII INCOMPATIBILITIES Article 50. It is forbidden to hold positions in the company and, where appropriate, to exercise them, to persons declared incimpatible to the extent and conditions established by law 12/1995 of May 11 and others of a special nature, as well as to those that are involved in the prohibitions of article 124 of the Law of Corporations.

Page 34 of 223

Registration Number: 11568113-1

Registration Date: 23 June 2008

Expiration Date: 31 January 2018

Government Office: Department of Territorial Policies and Public Works/DirectorateGeneral of Land Transport

City: Barcelona

Country: Spain


Page 35 of 223

of 223


Page 37 of 223

AUTHORIZATION CONDITIONS

In the execution of transport with authorization of private service, the following conditions must be

fulfilled, which will be documented:

A-1: In goods or mixed vehicles, the goods transported must be owned by the company or have some

type of relationship with the company

A-2: In passenger or mixed vehicles, people transported must be workers of the center or users of the

same (school in schools, etc.)

B: The driver must have an employment relationship with the company, having a first-degree family

relationship (parents, children or spouse) with the holder of the authorization.

C: The vehicle must be owned by the company, or taken under lease, in which case it must be

accompanied by the corresponding contract.

D: The transport cannot be invoiced independently.

Local: 100 km from the residence of the authorization

Provincial: Province of the authorization

Comarcal: Province of the authorization and bordering

National: Without limitation

Autonomous: All its territory

This card must be carried on board the vehicle, and it is not valid if it is not accompanied by a vehicle

license in the name of the same holder, unless it is a leased vehicle or rent without driver.

Page 38 of 223

Registration Number: A08148710

Registration Date: 6 July 2010

This registration does not expire.

Government Office: Spanish Tax Agency (Customs Department)

City: Madrid

Country: Spain


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Additional Information: Per Intermediary: "We are Ship Agents in all Ports and Countries where weare present. In each port we have a different Ship Agent License. Licenses are obtained as they arerequired. The number of licenses at any given time depends on what ports we are operating in atthat time."

Intermediary relocated on February 22, 2016. Previous address: C. Atlantic, 112-120, Barcelona,Spain 08040.

Page 48 of 223

* * * * T R A C E B o o k m a r k : O w n e r s h i p _ I n f o r m a t i o n _ & _ B o a r d _ o f _ D i r e c t o r s | Q u e s t i o n S e c t i o n 2

OwnershipInformation &Board ofDirectors

Page 49 of 223

Ownership Information & Board of Directors

Maritima del Mediterraneo, S.A.U. is a Private Company.

No individuals have an ownership interest in Maritima del Mediterraneo, S.A.U..

The following corporations/other legal entities have an ownership interest in Maritima delMediterraneo, S.A.U.:

Entity Name: Noatum Maritime Holdings, S.L.U

Country of Incorporation: Spain

Ownership Percent: 100%

Ownership Information: Ownership of Noatum Maritime Holdings, S.L.U: Turia PortManagement Investments (Holding) C.V. - 100%.

Turia Port Management Investments (Holding) C.V. is a privatecompany registered in the Netherlands. Ownership of Turia PortManagement Investments (Holding) C.V.: Morgan Stanley IndiaInvestment (IFF) - 100%.

Morgan Stanley India Investment (IFF) is a public company listedon the New York Stock Exchange. Shareholders of Morgan StanleyIndia Investment (IFF) holding 5% or greater shares: City ofLondon Investment Management Co. Limited - 16.02%.

The following individuals are the members of the Board of Directors of Maritima del Mediterraneo,S.A.U.:

Name: Antonio Campoy Garcia

Job Title/Position: Executive Director Noatum Maritime

Name: Franck Boniface Berthelot

Job Title/Position: Corporate Managing Director & CFO Noatum Maritime

Name: Jordi Trius Traserra

Job Title/Position: Managing Director Noatum Maritime Services

Name: Rafael Torres Brinkmann

Job Title/Position: Managing Director Noatum Logistics

Name: Julian Tapias Herrero

Job Title/Position: International Director Noatum Maritime

Name: Joaquin Pablo Ramon Lestau

Job Title/Position: Managing Director Noatum Terminals

Name: Oscar Rodriguez Roijals

Job Title/Position: Chief Commercial Officer Noatum Maritime

Page 50 of 223

* * * * T R A C E B o o k m a r k : P e r s o n n e l | Q u e s t i o n S e c t i o n 4

Personnel

Page 51 of 223

Personnel

Maritima del Mediterraneo, S.A.U.’s total number of personnel (including managers and directors): 347

The following personnel of Maritima del Mediterraneo, S.A.U. are authorized to make binding decisionsfor Maritima del Mediterraneo, S.A.U. and enter into contracts with clients:





Name: Federico Lopez Aguiar


The following personnel of Maritima del Mediterraneo, S.A.U. market or sell products/services tocustomers:











Name: Ignacio Zameza Arano

Job Title/Position: North Spain Manager - Shipping Agency Area

Name: Rafael Soler Cortell

Job Title/Position: Levante Manager - Shipping Agency Area



Name: Jacinto Delgado Rodriguez

Job Title/Position: Branch Manager Las Palmas

The following personnel of Maritima del Mediterraneo, S.A.U. may interact with a government officialor government entity:






Page 52 of 223







Job Title/Position: North Spain Manager - Shipping Agency Area


Job Title/Position: Levante Manger Shipping Agency Area

Name: Sergio Santabarbara Mola

Job Title/Position: Human Resources Manager

Name: Xavier Lerma

Job Title/Position: Corporate Administrative Manager

Name: Santiago Martínez Vidal

Job Title/Position: Corporate Quality and Social Accountability Director and ComplianceOfficer

Name: Felix Delgado de la Guia

Job Title/Position: Health & Safety Responsable




Job Title/Position: Corporate Managing Director & CFO Noatum Maritime


Job Title/Position: Chief Commercial Officer Noatum Maritime

Page 53 of 223

* * * * T R A C E B o o k m a r k : N a m e _ C o n f i r m a t i o n _ D o c u m e n t | Q u e s t i o n S e c t i o n 1 5

NameConfirmationDocument

Page 54 of 223

Name Confirmation Document

Name Provided toTRACE

Given/FirstName

Family/LastName(s)

Name(s) Commonly Used inBusiness

Antonio Campoy Garcia Antonio Campoy García Antonio Campoy

Franck BonifaceBerthelot

Franck Boniface Berhelot Boniface Berthelot

Jordi Trius Traserra Jordi Trius Traserra Jordi Trius

Rafael TorresBrinkmann

Rafael Torres Brinkmann Rafael Torres

Julian Tapias Herrero Julian Tapias Herrero Julian Tapias

Joaquin Pablo RamonLestau

Joaquin Pablo Ramón Lestau Chimo Ramon

Oscar Rodriguez Roijals Oscar Rodriguez Roijals Oscar Rodriguez

Federico Lopez Aguiar Federico José Lopez Aguiar Federico Lopez

Ignacio Zameza Arano Ignacio Zameza Arano Iñaki Zameza

Rafael Soler Cortell Rafael Soler Cortell Rafa Soler

Jacinto DelgadoRodriguez

Jacinto Delgado Rodriguez Jacinto Delgado

Sergio SantabarbaraMola

Sergio Santabarbara Mola Sergio Santabarbara

Xavier Lerma Xavier Lerma Sinai Xavier Lerma

Santiago Martínez Vidal Santiago Martinez Vidal Santi Martínez

Felix Delgado de la Guia Felix Delgado de la Guia Felix Delgado

Page 55 of 223

* * * * T R A C E B o o k m a r k : R e s u m e s / C V s | Q u e s t i o n S e c t i o n 1 9

Resumes/CVs

Page 56 of 223

Resumes/CVs

Company/Entity Position BeginningDate

Does Antonio Campoy Garciacurrently hold this position?

EndingDate

Maritima delMediterraneo, S.A.U.

President 2005 Antonio Campoy Garcia currently holdsthis position.


Citizenship: Spain

Antonio Campoy Garcia is involved in the day-to-day operations of Maritima del Mediterraneo, S.A.U..

Antonio Campoy Garcia holds the following positions or ownership interests in entities other thanMaritima del Mediterraneo, S.A.U.:

Company: Atlas Forwarding, S.L.

Position: Member of the Board of Directors

Company: Atlas Forwarding Mediterráneo, S.L.


Company: Auto Terminal, S.A.


Company: Barcelona Container Depot Service, S.L.


Company: C.Steinweg Iberia, S.L.


Company: Erhardt Mediterráneo, S.L.


Company: Marítima Consiflet, S.A.


Company: Open Logistic, S.L.


Company: Marítima del Mediterráneo, S.A.U.


Company: Montañesa de Consignaciones, S.L.


Company: Noatum Codemar Tarragona, S.A.U.


Company: Progeco Bilbao, S.A.


Company: Progeco España, S.A.


Page 57 of 223

Company: Progeco Vigo, S.A.


Company: Servicios Logísticos Portuarios SLP, S.A.


Company: S5 Agency World Limited


Company: Terminal Marítima de Cartagena, S.L.


Company: Terminales Marítimos de Galicia, S.L.


Company: Universal Global Logistics, S.A.U.


Company: Noatum Maritime Services, S.L.U.


Company: Noatum Maritime Terminals, S.L.U.


Company: Noatum Logistics, S.L.U.


Company: Marmedsa Chartering, S.L.


Company: Marmedsa Group Portugal, S.A.


Company: Marmedsa Bemarine SPA


Antonio Campoy Garcia has not held or worked in a government or military position in the last tenyears.

Antonio Campoy Garcia does not currently hold any position with a political party or political campaignand is not currently a candidate any political office.

No family members of Antonio Campoy Garcia currently hold any government positions.

Page 58 of 223


Does Franck BonifaceBerthelot currently hold thisposition?

EndingDate

Maritima delMediterraneo,S.A.U.

Coporate GeneralDirector

October2014

Franck Boniface Berthelotcurrently holds this position.

Noatum Maritime CoporateManagingDirector

September2014

Franck Boniface Berthelotcurrently holds this position.

Noatum Ports CorporateDevelopmentDirector

October2010

No September2014

Entity Macquarie Vice President September2004

No July 2010


Citizenship: France

Franck Boniface Berthelot is involved in the day-to-day operations of Maritima del Mediterraneo,S.A.U..

Franck Boniface Berthelot holds the following positions or ownership interests in entities other thanMaritima del Mediterraneo, S.A.U.:

Company: Combalía Agencia Marítima, S.A.




Company: Marmedsa Logistic Services, S.A.


Company: Marmedsa Noatum Chile SpA


Company: Noatum Terminal Tarragona, S.A.U.


Company: Samskip Multimodal Container Logistics, S.A.


Company: Universal Global Logistics, S.A.R.L.


Company: Universal Marítima, S.l.


Company: Viajes Cosmos, S.l.


Company: Actanis, S.A.


Company: Agencia Marítima de Consignaciones, S.A.

Page 59 of 223


Company: Auto Terminal, S.A.


Company: Komet Turizm Denizcilik Ve Sanayi Anonim Sirketi


Company: Samskip Multimodal Container Logistics, S.A.


Company: Marmedsa Bemarine SpA


Company: Marmedsa Group Portugal S.A.


Company: MARMEDSA TURKEY DENİZCİLİK LİMAN VE LOJİSTİK HİZMETLERİ A.Ş.


Company: SG Gestinver, S.A.


Company: Noatum Maritime Services S.L.U.


Company: Noatum Maritime Terminals, S.L.U.


Company: Noatum logistics, S.L.U.


Company: Noatum T Málaga S.A.U.


Company: Noatum T Sagunto, S.L.U.


Company: Noatum T Santander, S.A.U.


Company: United European Car Carriers Ibérica, S.L.


Franck Boniface Berthelot has not held or worked in a government or military position in the last tenyears.

Franck Boniface Berthelot does not currently hold any position with a political party or politicalcampaign and is not currently a candidate any political office.

No family members of Franck Boniface Berthelot currently hold any government positions.

Page 60 of 223


Does Jordi Trius Traserracurrently hold this position?

EndingDate


Agencynetworkdirector

September2003

Jordi Trius Traserra currently holdsthis position.


Citizenship: Spain

Jordi Trius Traserra is involved in the day-to-day operations of Maritima del Mediterraneo, S.A.U..

Jordi Trius Traserra holds the following positions or ownership interests in entities other than Maritimadel Mediterraneo, S.A.U.:

Company: INTRIU SL

Position: Director/Owner

Company: Combalía Agencia Marítima, S.A.




Company: Marmedsa, S.A.R.L.


Company: Progeco España, S.A.


Company: Universal Marítima, S.l.


Company: Viajes Cosmos, S.l.


Company: Rudder Logistics, S.L.


Company: Noatum Maritime Services S.L.U.


Company: Marmedsa Maroc SARL


Company: Trafimar Maroc, S.A.R.L.


Jordi Trius Traserra has not held or worked in a government or military position in the last ten years.

Jordi Trius Traserra does not currently hold any position with a political party or political campaign andis not currently a candidate any political office.

No family members of Jordi Trius Traserra currently hold any government positions.

Page 61 of 223


Does Rafael Torres Brinkmanncurrently hold this position?

EndingDate


generalManagerLogistics

July 2011 Rafael Torres Brinkmann currentlyholds this position.

LOGO Fashion, S.A. InternationalDirector

July 2006 No February2011


Citizenship: Spain

Rafael Torres Brinkmann is involved in the day-to-day operations of Maritima del Mediterraneo,S.A.U..

Rafael Torres Brinkmann holds the following positions or ownership interests in entities other thanMaritima del Mediterraneo, S.A.U.:

Company: Marmedsa Noatum Chile SpA


Company: Tandem Global Logistics (HK) Limited


Company: Tandem Global Logistics (India)


Company: Tandem Holding (HK) Limited


Company: Universal Global Logistics, S.A.R.L.


Company: Universal Forwarding SpA


Company: MARMEDSA TURKEY DENİZCİLİK LİMAN VE LOJİSTİK HİZMETLERİ A.Ş.


Company: KOMET TURIZM VE DENIZCILIK TICARET VE SANAYI ANONIM ŞIRKETI


Rafael Torres Brinkmann has not held or worked in a government or military position in the last tenyears.

Rafael Torres Brinkmann does not currently hold any position with a political party or politicalcampaign and is not currently a candidate any political office.

No family members of Rafael Torres Brinkmann currently hold any government positions.

Page 62 of 223


Does Julian TapiasHerrero currently holdthis position?

EndingDate


International Tramp andProject Area GeneralManager

2004 Julian Tapias Herrerocurrently holds this position.


Citizenship: Spain

Julian Tapias Herrero is involved in the day-to-day operations of Maritima del Mediterraneo, S.A.U..

Julian Tapias Herrero holds the following positions or ownership interests in entities other thanMaritima del Mediterraneo, S.A.U.:



Company: S5 Agency World Limited


Company: Actanis, S.A.


Company: Marmedsa Chartering, S.L.


Company: S5 West Med, S.L.U.


Company: Actanis, Unipessoal Lda.


Julian Tapias Herrero has not held or worked in a government or military position in the last ten years.

Julian Tapias Herrero does not currently hold any position with a political party or political campaignand is not currently a candidate any political office.

No family members of Julian Tapias Herrero currently hold any government positions.

Page 63 of 223


Does Joaquin Pablo RamonLestau currently hold thisposition?

EndingDate


General ManagerPort TerminalsDivision

September2004

Joaquin Pablo Ramon Lestaucurrently holds this position.


Citizenship: Spain

Joaquin Pablo Ramon Lestau is involved in the day-to-day operations of Maritima del Mediterraneo,S.A.U..

Joaquin Pablo Ramon Lestau holds the following positions or ownership interests in entities otherthan Maritima del Mediterraneo, S.A.U.:

Company: Atlas Forwarding, S.L.






Company: Frigoríficos de Castellón, S.A.


Company: Lager Logistics, S.L.


Company: Marítima Consiflet, S.A.


Company: Open Logistic, S.L.


Company: Montañesa de Consignaciones, S.L.




Company: Noatum Terminal de Castellón, S.A.


Company: Noatum Terminal Graneles Santander, S.A.


Company: Noatum Terminal Polivalente Santander, S.L.


Company: Servicios Logísticos Portuarios SLP, S.A.


Company: Sociedad de Estiba y Desestiba del Puerto de Castellón SAGEP


Page 64 of 223

Company: Terminal Marítima de Cartagena, S.l.


Company: Terminales Marítimos de Galicia, S.L.


Company: Noatum Martime Terminals, S.L.U.


Company: Noatum T Málaga, SAU


Company: Noatum T Santander SAU


Company: Noatum T Sagunto SLU


Company: Barcelona Container Depot Service Sl


Company: Grupajes y Trincaje Port Sl


Company: Progeco Vigo SA


Company: Progeco Bilbao SA


Joaquin Pablo Ramon Lestau has not held or worked in a government or military position in the lastten years.

Joaquin Pablo Ramon Lestau does not currently hold any position with a political party or politicalcampaign and is not currently a candidate any political office.

No family members of Joaquin Pablo Ramon Lestau currently hold any government positions.

Page 65 of 223


Does Oscar Rodriguez Roijalscurrently hold this position?

EndingDate


ChiefCommercialOfficer

November2017

Oscar Rodriguez Roijals currentlyholds this position.

Noatum Ports CommercialDirector

September2015

No October2017

Noatum Ports SeniorOperationsManager

January2014

No September2015

Noatum Ports ProjectDirector

July 2012 No January2014

DP WorldTarragona

Chief Officer July 2007 No July 2012


Citizenship: Spain

Oscar Rodriguez Roijals is involved in the day-to-day operations of Maritima del Mediterraneo, S.A.U..

Oscar Rodriguez Roijals does not hold a position or ownership interest in any entity other thanMaritima del Mediterraneo, S.A.U..

Oscar Rodriguez Roijals has not held or worked in a government or military position in the last tenyears.

Oscar Rodriguez Roijals does not currently hold any position with a political party or political campaignand is not currently a candidate any political office.

No family members of Oscar Rodriguez Roijals currently hold any government positions.

Page 66 of 223


Does Federico Lopez Aguiarcurrently hold this position?

EndingDate

Maritima delMediterraneo,S.A.U

Director Oil & GasDivision

January2014

Federico Lopez Aguiar currentlyholds this position.

Maritima delMediterraneo, S.A.

Canary IslandsRegional Manager

January2002

Federico Lopez Aguiar currentlyholds this position.


Citizenship: Spain

Federico Lopez Aguiar is involved in the day-to-day operations of Maritima del Mediterraneo, S.A.U..

Federico Lopez Aguiar does not hold a position or ownership interest in any entity other thanMaritima del Mediterraneo, S.A.U..

Federico Lopez Aguiar has not held or worked in a government or military position in the last tenyears.

Federico Lopez Aguiar does not currently hold any position with a political party or political campaignand is not currently a candidate any political office.

No family members of Federico Lopez Aguiar currently hold any government positions.

Page 67 of 223


Does Ignacio Zameza Aranocurrently hold this position?

EndingDate


Director January2000

Ignacio Zameza Arano currently holdsthis position.


Citizenship: Spain

Ignacio Zameza Arano is involved in the day-to-day operations of Maritima del Mediterraneo, S.A.U..

Ignacio Zameza Arano holds the following positions or ownership interests in entities other thanMaritima del Mediterraneo, S.A.U.:

Company: Progeco Bilbao, S.A.


Company: Progeco Vigo, S.A.


Company: Vinatrans Bizkaia, S.L.


Ignacio Zameza Arano has not held or worked in a government or military position in the last tenyears.

Ignacio Zameza Arano does not currently hold any position with a political party or political campaignand is not currently a candidate any political office.

No family members of Ignacio Zameza Arano currently hold any government positions.

Page 68 of 223


Does Rafael Soler Cortellcurrently hold this position?

EndingDate


Regional ManagerLevante Area

October2004

Rafael Soler Cortell currently holdsthis position.


Citizenship: Spain

Rafael Soler Cortell is involved in the day-to-day operations of Maritima del Mediterraneo, S.A.U..

Rafael Soler Cortell holds the following positions or ownership interests in entities other than Maritimadel Mediterraneo, S.A.U.:





Company: Frigoríficos de Castellón, S.A.


Company: Lematrans Castellón, S.A.


Company: Terminal Marítima de Cartagena, S.L.


Company: Noatum Terminal castellón SAU


Company: Marmedsa Bemarine SPA


Rafael Soler Cortell has not held or worked in a government or military position in the last ten years.

Rafael Soler Cortell does not currently hold any position with a political party or political campaign andis not currently a candidate any political office.

No family members of Rafael Soler Cortell currently hold any government positions.

Page 69 of 223


Does Jacinto DelgadoRodriguez currently hold thisposition?

EndingDate

Maritima delMediterraneo SAU

Branch ManagerLas Palmas

July 2011 Jacinto Delgado Rodriguezcurrently holds this position.

Manip. PortuariasGrupajes yTransitosS.A.

Regional DirectorCanary Islands

June 2000 No July2011

Name: Jacinto Delgado Rodriguez

Citizenship: Spain

Jacinto Delgado Rodriguez is involved in the day-to-day operations of Maritima del Mediterraneo,S.A.U..

Jacinto Delgado Rodriguez does not hold a position or ownership interest in any entity other thanMaritima del Mediterraneo, S.A.U..

Jacinto Delgado Rodriguez has not held or worked in a government or military position in the last tenyears.

Jacinto Delgado Rodriguez does not currently hold any position with a political party or politicalcampaign and is not currently a candidate any political office.

No family members of Jacinto Delgado Rodriguez currently hold any government positions.

Page 70 of 223


Does Sergio Santabarbara Molacurrently hold this position?

EndingDate


CorporateHR Director

October2007

Sergio Santabarbara Mola currentlyholds this position.

Reckitt BenckiserEspana S.A.

HR Director January2004

No October2007

Name: Sergio Santabarbara Mola

Citizenship: Spain

Sergio Santabarbara Mola is involved in the day-to-day operations of Maritima del Mediterraneo,S.A.U..

Sergio Santabarbara Mola does not hold a position or ownership interest in any entity other thanMaritima del Mediterraneo, S.A.U..

Sergio Santabarbara Mola has not held or worked in a government or military position in the last tenyears.

Sergio Santabarbara Mola does not currently hold any position with a political party or politicalcampaign and is not currently a candidate any political office.

No family members of Sergio Santabarbara Mola currently hold any government positions.

Page 71 of 223


Does Xavier Lerma currentlyhold this position?

EndingDate


CorporateAdministrationManager

March2005

Xavier Lerma currently holdsthis position.

Name: Xavier Lerma

Citizenship: Spain

Xavier Lerma is involved in the day-to-day operations of Maritima del Mediterraneo, S.A.U..

Xavier Lerma does not hold a position or ownership interest in any entity other than Maritima delMediterraneo, S.A.U..

Xavier Lerma has not held or worked in a government or military position in the last ten years.

Xavier Lerma does not currently hold any position with a political party or political campaign and is notcurrently a candidate any political office.

No family members of Xavier Lerma currently hold any government positions.

Page 72 of 223


Does Santiago MartínezVidal currently hold thisposition?

EndingDate

Noatum MaritimeHoldings, S.A.U.

Corporate Quality andSocial AccountabilityDirector

May 2017 Santiago Martínez Vidalcurrently holds thisposition.


Agency NetworkOperations Manager

January2011

Santiago Martínez Vidalcurrently holds thisposition.


General TrampOperations Manager

October2007

No December2010

Name: Santiago Martínez Vidal

Citizenship: Spain

Santiago Martínez Vidal is involved in the day-to-day operations of Maritima del Mediterraneo, S.A.U..

Santiago Martínez Vidal holds the following positions or ownership interests in entities other thanMaritima del Mediterraneo, S.A.U.:

Company: Noatum Maritime Holdings S.A.U.

Position: Director

Santiago Martínez Vidal has not held or worked in a government or military position in the last tenyears.

Santiago Martínez Vidal does not currently hold any position with a political party or political campaignand is not currently a candidate any political office.

No family members of Santiago Martínez Vidal currently hold any government positions.

Page 73 of 223


Does Felix Delgado de la Guiacurrently hold this position?

EndingDate


Health andSafety

2006 Felix Delgado de la Guia currently holdsthis position.

Name: Felix Delgado de la Guia

Citizenship: Spain

Felix Delgado de la Guia is involved in the day-to-day operations of Maritima del Mediterraneo, S.A.U..

Felix Delgado de la Guia holds the following positions or ownership interests in entities other thanMaritima del Mediterraneo, S.A.U.:

Company: UVADAP (in liquidation)

Position: Director

Felix Delgado de la Guia has not held or worked in a government or military position in the last tenyears.

Felix Delgado de la Guia does not currently hold any position with a political party or political campaignand is not currently a candidate any political office.

No family members of Felix Delgado de la Guia currently hold any government positions.

Page 74 of 223

* * * * T R A C E B o o k m a r k : A s s o c i a t e d _ O f f i c e s _ & _ E n t i t i e s | Q u e s t i o n S e c t i o n 1 2

AssociatedOffices & Entities

Page 75 of 223

Associated Offices & Entities

Maritima del Mediterraneo, S.A.U. has the following subsidiary organizations or joint ventures:

Name: Montanesa de Consignaciones, S.L

Address: Puerto de Raos,sin Ed.GSM

City: Santander

State/Province: N/A

Postal Code: 39011

Country: Spain

Percentage owned by Maritima del Mediterraneo, S.A.U.: 100%

This subsidiary/joint venture is not owned by any other entities/individuals.

This subsidiary/joint venture will not be involved in transactions for, or provide services toMaritima del Mediterraneo, S.A.U.’s clients/vendors/suppliers.

Name: Marmedsa Group Portugal, S.A.

Address: Av. Don Joao If Lt1.18.01 Ed.Art, Bloco B 2'piso salaC

City: Lisboa

State/Province: N/A

Postal Code: 1990- 084

Country: Portugal




Name: Marmedsa, S.A.R.L

Address: Andre Roussin, 59

City: Marseille Cdx 16 (BP 106)

State/Province: N/A

Postal Code: 13321

Country: France




Name: Marmedsa Noatum Chile SpA

Address: Av. Apoquindo, n 3001 piso 9

City: Las Condes (Santiao )

State/Province: N/A

Postal Code: N/A

Country: Chile



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Name: Marmedsa Turkey Denizcilik Liman Ve Lojistik Hizmetleri Anonim Sirketi(Marmedsa Turkey)

Address: R.Bahçe Mah. Akel Is Mrk. A Bl ok K 4

City: Beykoz Istanbul

State/Province: Kavacık/Beykoz İstanbul

Postal Code: 34805

Country: Turkey




Name: S5 West Med, S.L.

Address: Bandas de Musica de la Com

City: Valencia

State/Province: Valencia

Postal Code: 46013

Country: Spain




Name: Universal Marítima, S.A.R.L.

Address: 59 Avenue Andre Boussin BP 10 6 13321 Marseille Cedex 16

City: Marseille

State/Province: Marseille

Postal Code: 13321

Country: France


This subsidiary/joint venture is also owned by the following entities/individuals:

Individual or Entity Name: Marmedsa, S.A.R.L.

Ownership Percentage: 95%

Maritima del Mediterraneo, S.A.U. confirmed that this shareholder is not a governmentofficial/entity.


Name: Trafimar Maroc, S.A.R.L.

Address: 33 Av. Hassan Seghir 1E Etg No. 2

City: Casablanca

State/Province: Casablanca

Postal Code: 1E ETG

Country: Morocco



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Maritima del Mediterraneo, S.A.U. has the following branch offices:

Name: Maritima del Mediterraneo SAU

Address: Avd.los Cambulloneros sin

City: Las Palmas de Gran Canaria

State/Province: N/A

Postal Code: 35008

Country: Spain


Address: Avda. Ferrandis Salvador, s/n

City: Castellon

Postal Code: 12100

Country: Spain


Address: C/ Comercio, 7

City: Tarragona

Postal Code: 43004

Country: Spain


Address: C/ Luxemburgo, 3 - C.T.C.

City: Madrid

Postal Code: 28821

Country: Spain


Address: C/ Reyes Católicos, 27-29 1º C

City: Alicante

Postal Code: 03003

Country: Spain


Address: Edif. Operadores Portuarios I, Local 18 - Puerto del Musel s/n

City: Gijon

Postal Code: 33212

Country: Spain


Address: Edf. Las Artes II, Plza. Bandas de Música de la C.V., 11 Piso 1º Puerta 6ª

City: Valencia

Postal Code: 46013

Country: Spain


Address: Estación Marítima nº3, Entlo. B, Muelle de Paraires

City: Palma Mallorca

Postal Code: 07015

Country: Spain

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Address: Marina, 16 5º D

City: Huelva

Postal Code: 21001

Country: Spain


Address: Muelle 9, Edificio Noatum, Plta. 1ª - Puerto de Málaga

City: Malaga

Postal Code: 29001

Country: Spain


Address: Muelle Centro, s/n - Edificio Noatum

City: Sagunto

State/Province: Valencia

Postal Code: 46520

Country: Spain


Address: Pº Zona Franca, 111 - Torre Auditori

City: Barcelona

Postal Code: 08038

Country: Spain


Address: Puerto de Raos, s/n - Edificio Noatum

City: Santander

Postal Code: 39011

Country: Spain

Maritima del Mediterraneo, S.A.U. is part of a group companies:

Name of the Group: Noatum Maritime Holdings, S.L.U.

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Maritima del Mediterraneo, S.A.U.’s Relationship to the Group: Noatum Maritime covers a widerange of services such as shipping agency, logistics, port services and specialized portterminals.

Noatum Maritime is a leader in shipping and logistics services on the Iberian Peninsula thanksto our extensive experience acquired over more than 50 years of activity, since Marítima delMediterráneo was created in Barcelona in 1963 as a shipping agency.Today, Noatum Maritime is known for our excellent service and specialized, trustworthypersonnel, who have made the company a benchmark in the sector. This team of more than1100 dedicated professionals has built a diversified group of companies that cover all of ourclients’ needs in the various areas of shipping and logistics.

Noatum Maritime provides services for ship operators and carriers as well as consignees andshippers and has branches in the main ports of Spain, Portugal, France, Morocco and Algeria.The company is also present in China and India through its investee companies.

In 2010 Marmedsa became part of Noatum, the leading Spanish port operator that coversthe entire logistic chain. Noatum Maritime: http://www.noatummaritime.com/en/

Noatum Maritime Holdings, S.L.U. (known as Noatum) is the shareholder/ owner ofMarmedsa Noatum Maritime, and it has two business areas:1. Marmedas Noatum Maritime: shipping agency, logistics, port services and specialized portterminals2. Noatum Ports: Long term concessions of terminals and port handling licences managed byan expert team of professionals, with significant investment in facilities and the latestequipmentNoatum: http://noatum.com/en/

Other subsidiaries in the group of companies may provide third party services if needed.

This Group is a Legal Entity.The following companies are part of this group:

Name: Noatum Logistics SLU

This group company will be involved in transactions for, or provide services to, Maritimadel Mediterraneo, S.A.U.’s clients/vendors/suppliers.

This group company is involved with Maritima del Mediterraneo, S.A.U.'sclients/vendors/suppliers in the following manner: International Freight Forwarding,Seafreight, Airfreight & Logistics

Name: Combalia Agencia Marítima, S.A


This group company is involved with Maritima del Mediterraneo, S.A.U.'sclients/vendors/suppliers in the following manner: Subsidiaries in the group ofcompanies may provide third party services if needed.

Name: Marmedsa Bemarine



Name: Samskip Multimodal Container Logistics, S.A.


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Name: Marmedsa TK Deniz Liman Ve Lojistik Hitzmerleri A.S.



Name: Noatum Terminal Tarragona



Name: Marmedsa, S.A.R.L.



Name: Universal Marítima, S.L.



Name: Marmedsa Group Portugal, S.A.



Name: Frigoríficos de Castellon, S.A.



Name: Marmedsa Maroc, S.A.R.L.



Name: Marmedsa Chartering, S.L.


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Name: Progeco España, S.A.U.



Name: Marmedsa Noatum Chile, SpA



Name: Noatum Terminal Castellon, S.A.U.



Name: Montañesa de Consignaciones, S.L.U.



Name: Lematrans Castellón, S.A.



Name: Combalia Maroc, S.A.R.L.



Name: S5 West Med, S.L.



Name: S.A.R.L. Universal Maritima


Page 82 of 223


Name: Trafimar Maroc, S.A.R.L.



Name: Rudder Logistics, S.L.



Name: Euroship Services Barcelona, S.L.



Name: Rudder Workshop Algeciras, S.L.



Name: Universal Global Logistics Unipessoal, Lda.



Name: Marmedsa Agenia Mtma (Pt), Lda.



Name: Universal Mtma. Portugal, U., Lda.



Name: Komet Turizm ve denizcilik Ticaret ve anayi A.S.


Page 83 of 223


Name: Universal Forwarding SPA



Name: Marmedsa Logistic Services, S.A.



Name: Actanis, S.A.



Name: Universal Global Logistics, S.A.U.



Name: Actanis Unipessoal, Lda



Name: Universal Global Logistics, S.A.R.L.



Name: Grupajes y Trincajes Port, S.L.



Name: Noatum Terminal Malaga, S.A.U.


Page 84 of 223


Name: Noatum Terminal Santander, S.A.U.



Name: Noatum Terminal Sagunto, S.L.U.



Name: Noatum Terminal Polivalente de Santander, S.L.



Name: SM Gestinver, S.A.



Name: Autoterminal, S.A.



Name: Noatum Maritime Services, S.L.U,



Name: Noatum Maritime Terminals, S.L.U.



Maritima del Mediterraneo, S.A.U. does not use any individual or entity to provide any services or toperform any part of Maritima del Mediterraneo, S.A.U.'s activities.

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Maritima del Mediterraneo, S.A.U. has been a party to the following mergers or acquisitions over thepast 5 years:

Entities Involved: Marmedsa Canarias SLU and Maritima del Mediterraneo, S.A.U.

Merger/Acquisition Date: 2013

Merger/AcquisitionDetails:

M/A

No other person, entity, government or government entity has any management right or financialinterest in Maritima del Mediterraneo, S.A.U..

Additional Information: Other subsidiaries in the group of companies may provide third partyservices if needed. Maritima del Mediterraneo, S.A.U. and Universal Global Logistics, S.A.U. are themain companies working on oil and gas projects.

Maritima del Mediterraneo has direct ownership in the subsidiaries. They consider additionalcompanies (subsidiaries of their subsidiaries) to be subsidiaries of Maritima del Mediterraneo. A listof these additional companies is located in Additional Documents section. Names of these additionalcompanies and their shareholders were not included in the reputational screening.

From November 2017, numerous companies that were directly related with Maritima delMeditterraneo have been transferred to other companies within the whole Group. The new groupstructure for the whole group is provided in "Additional Documents" section.

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* * * * T R A C E B o o k m a r k : O t h e r _ E n g a g e m e n t s | Q u e s t i o n S e c t i o n 6

OtherEngagements

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Other Engagements

Maritima del Mediterraneo, S.A.U. will market products or services to the following government,government-controlled, or military entity, including state-owned enterprises:

Navies in: France, USA, Spain, Netherlands, Sweden, Brazil, Russia and Germany

Maritima del Mediterraneo, S.A.U. has contracts with, or provides services directly to, the followinggovernment, government-controlled or military entity/entities, including any state-owned enterprises:

Services PerformedFor:

Brazilian Naval Commission

Types of Services: Attendance to Frigates, Ship Agency

This contract does not pose a conflict of interest.

No people listed in this report directly have any contracts with, or provide services directly to, anygovernment, government-controlled or military entity, including any state-owned enterprises.

Additional Information: In terms of government entities in France, USA, Spain, Netherlands, Sweden,Brazil, Russia and Germany, it is confirmed that besides the army of each mentioned country,Maritima del Mediterraneo, S.A.U. does not currently provide services to any additionalgovernment/military entities.

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* * * * T R A C E B o o k m a r k : E n f o r c e m e n t _ I n f o r m a t i o n | Q u e s t i o n S e c t i o n 1 3

EnforcementInformation

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Enforcement Information

No person or company associated with Maritima del Mediterraneo, S.A.U. has ever been convicted ofviolating any rules or regulations governing the purchase or sale of goods or services to or by anygovernment.

No person or company associated with Maritima del Mediterraneo, S.A.U. has ever been interviewed,deposed or subpoenaed in connection with any litigation or investigation involving any governmentregulations.

No person or company associated with Maritima del Mediterraneo, S.A.U. has ever been found guiltyof violating any law governing donations, contributions, honoraria or any other form of remunerationto any government official or any individual working for a commercial enterprise.

No person or company associated with Maritima del Mediterraneo, S.A.U. has ever been interviewed,deposed or subpoenaed in connection with any litigation or investigation involving any law governingdonations, contributions, honoraria or any other form of remuneration to any government official orany individual working for a commercial enterprise.

No person or company associated with Maritima del Mediterraneo, S.A.U. has ever been interviewed,subpoenaed or asked to testify before any legislative body concerning fraud or abuse with regard toany governmental procurements.

No person or company associated with Maritima del Mediterraneo, S.A.U. has ever been found guiltyof any violations of securities or commodities trading laws.

No person or company associated with Maritima del Mediterraneo, S.A.U. has ever been interviewed,deposed or subpoenaed in connection with any litigation or investigation involving any violations ofsecurities or commodities trading laws.

No person or company associated with Maritima del Mediterraneo, S.A.U. has ever been found guiltyof any violation of any laws governing the regulation of antitrust practices.

No person or company associated with Maritima del Mediterraneo, S.A.U. has ever been the subjectof, or mentioned by name in, any newspaper or magazine article in an adverse manner.

No person or company associated with Maritima del Mediterraneo, S.A.U. has ever been charged,interviewed or found guilty concerning income tax evasion.

No person or company associated with Maritima del Mediterraneo, S.A.U. has ever been convicted of afelony or other criminal act for any matter not listed above.

Excluding traffic charges, no person associated with Maritima del Mediterraneo, S.A.U. has ever beenarrested, charged, cited or held by law enforcement authorities regardless of whether the charge wasdropped, dismissed or a verdict of not guilty was entered.

No person or company associated with Maritima del Mediterraneo, S.A.U. has ever been debarredfrom competing for World Bank contracts.

No person or company associated with Maritima del Mediterraneo, S.A.U. has ever been debarredfrom competing for government contracts in any country.

No person or company associated with Maritima del Mediterraneo, S.A.U. has ever had a securityclearance denied or revoked.

No person associated with Maritima del Mediterraneo, S.A.U. has ever been discharged from anyArmed Forces with other than an honorable discharge.

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No person or company associated with Maritima del Mediterraneo, S.A.U. has ever been the subjectof any voluntary or involuntary bankruptcy or other similar proceeding.

No person or company associated with Maritima del Mediterraneo, S.A.U. is named on any regulatoryor government watch lists.

No person or company associated with Maritima del Mediterraneo, S.A.U. has ever admitted guilt for,been convicted of, or is currently under investigation for Trade Control violations (such as violationsof export controls, sanctions, and anti-boycott laws or regulations).

No person or company associated with Maritima del Mediterraneo, S.A.U. has ever been placed on anyrestricted parties lists.

No person or company associated with Maritima del Mediterraneo, S.A.U. has any offices or otheroperations in Cuba, Iran, North Korea, the Republic of Sudan or Syria.

No person or company associated with Maritima del Mediterraneo, S.A.U. has ever donated, sold,exported, re-exported or otherwise transferred, purchased or imported, directly or indirectly throughthird countries or parties, equipment, products, funds or services to or from Cuba, Iran, NorthKorea, the Republic of Sudan or Syria or otherwise serviced (or requested services in relation to)products located in these countries without the requisite license in place.

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* * * * T R A C E B o o k m a r k : L i t e r a t u r e | Q u e s t i o n S e c t i o n 1 7

Literature

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Literature

Maritima del Mediterraneo, S.A.U. provided the following company brochure or other literature:

Page 93 of 223

Excellence in maritime, logistics and port services2017

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About Noatum MaritimePRESENTATIONAT A GLANCEINTEGRATED MANAGEMENT SYSTEMNETWORK OF OFFICESCOMPANIESACTIVITIESMAIN FIGURES 2016

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NOATUM MARITIME - PRESENTATION 3

Noatum Maritime was founded in 1963 as Marítima del Mediterráneo (Marmedsa), being shipping agency its first activity.

Today, it is renowned for the excellence of its service and its specialised and reliable staff who have made the company a benchmark in the sector.

8COUNTRIES

72COMPANIES

60PRESENCE IN PORTS

+1100EMPLOYEES

12TERMINALS

5DEPOTS

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NOATUM MARITIME AT A GLANCE - YEAR 2016 4

+10,200SHIP CALLS

+1,2MVEHICLES

+11,8MTONNES BULK &

GENERAL CARGO

+584KTEUs

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NOATUM MARITIME - INTEGRATED MANAGEMENT SYSTEM, CERTIFICATIONS & MEMBERSHIP 5

HEALTHAND SAFETY OHSAS 18001

ENVIRONMENTISO 14001

QUALITYISO 9001

IMS

+

CERTIFICATIONSAEO – Customssimplification - Security

CODEX Alimentarius

Referenciales Puertos del Estado

Good ManufacturingPractices (GMP+)

Good DistributionPractices (GDP)

Achilles (FPAL, REPRO y DOCUPLUS)

Legal Compliance (TRACE)

Marca de Garantía (Valencia)

Efficiency Network (Barcelona)

+

MEMBERSHIP

Associate Member Active Level

Page 98 of 223

NOATUM MARITIME - NETWORK OF OFFICES (64 LOCATIONS) 6

CHILE

SPAIN• Barcelona• Tarragona• Castellón• Sagunto• Valencia• Alicante• Cartagena• Málaga

22• Bilbao• Pasajes• Madrid• Palma • Tenerife• Las Palmas

• Algeciras• Cádiz• Huelva• Vigo• A Coruña• Ferrol• Gijón• Santander

PORTUGAL• Viana do Castelo• Porto

• Setúbal• Sines

6• Aveiro• Lisboa

MOROCCO• Tangier• Casablanca

• Agadir5

• Jorf Lasfar• Safi

ALGERIA• Ghazaouet• Oran• Arzew• Mostaganem

• Djendjen• Skikda• Annaba

10• Ténès• Algiers• Bejaia

TURKEY• Istanbul• Gaziantep

• Mersin4

• Izmir

CHILE• Santiago

1

FRANCE• Marseille• Fos-Lavera

• Bordeaux• Sète

6• La Pallice• Le Havre

CHINA• Beijing • Dalian • Guangzhou• Hong Kong•

• Shenzhen• Tianjin• Xiamen

10• Ningbo • Qingdao • Shanghai

NOATUM MARITIME COMPANIES INVESTEE COMPANIESPage 99 of 223

NOATUM MARITIME - COMPANIES 7

BILBAO

CASTELLÓN CARTAGENA A CORUÑA - FERROL

BARCELONA

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NOATUM MARITIME - ACTIVITIES 8

PROJECT CARGO

WAREHOUSING & DISTRIBUTION

CUSTOMS

ONLINE SERVICE

IT INTEGRATIONS WITH CUSTOMER

INSURANCES

TRAMP AGENCY

REEFER CARGOES

DRY CARGO CHARTERING

OUTSOURCING

LIQUID BULK

LAND TRANSPORT & DISTRIBUTION OF CONTAINERS

AUTOMOTIVE LOGISTICS

REGULAR LINE

OUTSOURCE / IMPLANTS

MULTIPURPOSE TERMINALS DEPOTSREEFER TERMINALS

RO-RO TERMINALSBULK TERMINALS

OIL & GAS

CONTAINER TERMINALS

FREIGHT FORWARDING

SUPPLY CHAIN MANAGEMENT

CONSULTANCY

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NOATUM MARITIME - SECTORIAL SOLUTIONS 9

Each industry has its specific needs and characteristics, and therefore requires different transportation and logistics solutions tailored to its own conditions.

At Noatum Maritime, we know your specific operating needs and we offer the most suitable solution for each industrial sector.

AUTOMOTIVE

CONSTRUCTION

CRUISES

FOODHOTEL INDUSTRY

OIL & GAS

PHARMACEUTICAL

INDUSTRY

FASHION

PHARMA IRON & STEEL REEFER

ENERGY

SPORT EVENTS

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NOATUM MARITIME - FIGURES 2016 10

5COUNTRIES

47PRESENCE IN PORTS

+590EMPLOYEES

7COUNTRIES

39OFFICES

+400EMPLOYEES

1COUNTRY

12TERMINALS

+185EMPLOYEES

10,200 SHIP CALLS ATTENDED

226,500 TEUs (EX/IM)

860,000 TONNES

715,000 VEHICLES

55,000 CUSTOMS CLEARANCES

99,000 TRANSPORT OPERATIONS


278,000 SEAFREIGHT TONNES

9,900 AIRFREIGHT TONNES

99,000 CBM LCL


10,703,000 TONNES

43,000 PALLETS(reefer)

365,800 CONTAINERS(handled in depots)

1,226,000 RO-RO

5DEPOTS

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Noatum Maritime ServicesPRESENTATIONACTIVITIESGLOBAL AGENCY

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NOATUM MARITIME SERVICES - PRESENTATION 12

5COUNTRIES

47PRESENCE IN PORTS

+590EMPLOYEES

ACTIVITIES FIGURES

TRAMP AGENCY

REEFER CARGOES DRY CARGO CHARTERING

OUTSOURCING LIQUID BULK

LAND TRANSPORT& DISTRIBUTIONOF CONTAINERS

AUTOMOTIVELOGISTICS

REGULAR LINE 10,200 SHIP CALLS ATTENDED


860,000 TONNES

715,000 VEHICLES

Noatum Maritime Services is focused on meeting the needs of all its customers, from ship attendance to commercial representation, including specialized transportation solutions, oil & gas and chartering, etc.

OIL & GAS CONSULTANCY

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NOATUM MARITIME SERVICES - ACTIVITIES 13

REGULAR LINE TRAMP AGENCY REEFER CARGOES• Agency services for all type of ships:

• Dry bulk carriers• Tankers• Gas carriers

• Additionally, hub services at a regional and global level, post-fixture services for ship owners or fleet commercial operators, bunker broker, unloading supervision and consultancy services (Market Intelligence).

• Container• Ro-ro• Car carriers• Multipurpose conventional ships

• Representation of ship owners specialized in reefer cargoes both containerized and break bulk

• Spanish leader in liners and reefer activity of perishable products transport

• Own reefer warehouses in Castellon and Sagunto

• Military ships • Global Network coverage

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NOATUM MARITIME SERVICES - ACTIVITIES

• Chartering of all type of vessels without any restrictions on tonnage / trading areas

• Voyage charter

• Time charter

• Contract of afreightment

• Solutions to special requirements adjusted to all kind of dry bulk commodities

• Market research

• Commercial management

• Operations management

• Post-fixtures services

• Freight and Hire collection

14

DRY CARGO CHARTERING

Page 107 of 223


OUTSOURCING LIQUID BULK LAND TRANSPORT• Agency representation in the Iberian Peninsula for transport, managing and leasing Isotanks

• Commercial leader of this activity in the Iberian Peninsula for more than 15 years

• Specialized depot for tank containers including M&R, periodical tests, cleaning, etc.

• Specialized services for liquid bulk shipments of chemicals, food grade products and wine & spirits

• Vessel husbandry• Port captain• ENS/EXS transmissions• Desk services• Customs declarations

• Transport of all types of containers: refrigerated, IMO, Isotank, tipper containers, etc.

• Railway transport and multimodal transport operator (containers and vehicles)

• Transport of bulk by truck

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AUTOMOTIVE LOGISTICS OIL & GAS CONSULTANCY• OOS Upgrading Projects

• Warm & Cold Stacking• Gas and Oil exploration

• Bunkering • Scrap

• Maritime transport of vehicles through lines represented

• Specialized terminal handling and storage. Value added services.

• Shipments coordination, stock control and damage prevention monitoring for vehicles

• Inland distribution through own fleet of trucks• Customs and fiscal assistance• Port captain services

• Project assistance • Qualified personnel• Accommodation and transfers

• Crew Change/ Visas/Immigration

• Health & Safety

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S5 AGENCY WORLD LTD: GLOBAL & TRANS-REGIONAL AGENCY SERVICES

• The world’s fastest growing port agency• WEB based single IT system to manage operations & financial control: Agency Now / Agency World

• HQ in London, hubs in Rotterdam and Mumbai

• Innovative hub & port call services: HSO, HPCM, husbandry, crew handling, etc.

75,000CREW CHANGES

MANAGED PER YEAR

35,000PORT CALLS HANDLED

PER YEAR

2,500EMPLOYEES

350

NORTON LILLY

INTL

S5 NORTH EUROPE

KANOO

S5 ASIA

JARDINES

OFFICES

Page 110 of 223

Noatum LogisticsPRESENTATIONACTIVITIES

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NOATUM LOGISTICS - PRESENTATION 19

Noatum Logistics acts as an integral logistic operator providing specific and value-added solutions to the supply chain of all its customers, being specialist in international transport, project cargo, logistics and customs.

7COUNTRIES

+400EMPLOYEES

ACTIVITIES

PROJECT CARGO

WAREHOUSING & DISTRIBUTION

CUSTOMS

ONLINESERVICE

IT INTEGRATIONS WITH CUSTOMER

OUTSOURCE / IMPLANTS INSURANCE

FREIGHT FORWARDING

FIGURES

55,000 CUSTOMS CLEARANCES

99,000 TRANSPORT OPERATIONS


278,000 SEAFREIGH TONNES

9,900 AIRFREIGHT TONNES

99,000 CBM LCL


NOATUM MARITIME OFFICESINVESTEE OFFICES

39OFFICES

Page 112 of 223

NOATUM LOGISTICS - ACTIVITIES 20

SEAFREIGHT

• FCL• LCL• NVOCC• Break bulk cargoes• Ro-Ro cargo• Flexitanks

AIRFREIGHT CARGO

• IATA licensed• Consolidation• Charters• Perishable & DG• Critical shipments• Services 24/7• AOG• Hand carriers

LAND TRANSPORT

• International road transport: full truck loads (FTL), groupage-consolidation (LTF)

• Transportation of containers

• Special transports: oversized and extra heavy

MULTIMODAL TRANSPORT

• Rail - Road - Ocean and vice versa

CROSSTRADE

• Management of worldwide triangular operations for any type of transport.

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NOATUM LOGISTICS - ACTIVITIES

•Logistics consultancy service, analysis and design of the supply chain providing value for our clients.

• Implementation and execution of designed solutions, maintaining a high level of Monitoring and oversight

• Innovative and effective solutions focused on cost savings.•Service throughout the supply chain, from the source to the destination, through our wide range of services:

• Supplier and purchase order management• Consolidation at source and deconsolidation at destination• Quality control and added value activities at source (classification, labelling, refitting, etc.)

• International air, sea and land transport• Customs engineering• Storage and distribution• Inverse logistics

• Integration within a single solution adapted to your needs and systems.

•High level of control and visibility thanks to our IT tools: one-stop access for monitoring and oversight of the entire supply chain.

21


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• Complete services for Turn Key Projects

• Transportation of industrial equipment, machinery and heavy lifts and out of gauge cargo

• Assembly and disassembly of industrial equipment

• Special port operations

• Chartering

• Great experience on:• Railways projects• Steel Industry• Wind power and solar energy• Petrochemical industry• Turbines and trafos

22

PROJECT CARGO

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• We are one of the largest customs brokers in Spain with own offices at main ports and airports.

• Providing solutions to our customers concerning any international trade issue.

• In house licensed customs broker in Spain and long term partnerships with (highly reputed) customs brokers in the rest of the countries

• Inspections and surveillance

• Special customs regulations

• Bonded warehouses

• Intrastat

• AEO certified (Authorized Economic Operator)

23

CUSTOMS

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• Bonded warehouses in Barcelona, Madrid and Valencia for different kind of products

• Cross dock and distribution to the final customer

• Picking and packing

• Stock control, traceability

• RFID

• Facility licenses and permits adapted to product

• Integral outsourcing in own warehouses or in-house

• Added value to the whole supply chain

24

WAREHOUSING AND DISTRIBUTION

TEMPORARY BONDED WAREHOUSING (ADT) PUBLIC BONDED WAREHOUSE (DAP) VAT CUSTOMS WAREHOUSES (DDA)

Quick withdrawal Under suspension Related-party transactions exempt from VAT (*) • Warehousing under Customs control

• Permit change of status• Bonded goods

• Bonded containers' unstuffing

• Time unlimited bonded warehousing• Duties and Taxes postponement

Limited exclusively to:• Goods subject to Special Taxes

• Specific raw materials• Goods coming from areas where VAT does not apply

(*) Goods from the EU or with Community status Page 117 of 223

NOATUM LOGISTICS - ACTIVITIES 25

ON-LINESERVICES

OUTSOURCE/IMPLANTS IN OUR CUSTOMERS'

OFFICES OR WAREHOUSES

INSURANCES

We offer our customers a specialised track and tracing service, intended to make their sales department day-to-day routine easier providing all the necessary information to the extent that every customer needs.

• Specialists in transport insurances

• Fast accident solving• Flexible policies according to specific needs of our customers

IT INTEGRATIONS WITH CUSTOMERS

We manage the whole or part of the logistics chain from our customers' offices or warehouses, moving our specialised and trustworthy personnel.

We adapt our processes to the our customers' IT tools, offering this way unique, efficient and competitive solutions for each case.

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Noatum TerminalsPRESENTATIONDESCRIPTION OF TERMINALSDESCRIPTION OF DEPOTS

Page 119 of 223

NOATUM TERMINALS - PRESENTATION

,

27

FIGURES

Noatum Terminals has port facilities that are able to meet the logistics needs of each port’s industrial hinterland. We offer a highly professional management backed by the most technologically advanced resources, as well as a combination of global knowledge and local experience to suit every need.

ACTIVITIES

MULTIPURPOSE TERMINALS

BULK TERMINALS

RO-RO TERMINALS

CONTAINER TERMINALS

CONTAINER AND DEPOT REPAIR

REEFER TERMINALS


365,800 CONTAINERS(handled in depots)

43,000 PALLETS(reefer)

10,703,000 TONNES(conventional)

1,226,000 RO-RO

1COUNTRY

12TERMINALS

+185EMPLOYEES

5DEPOTS

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NOATUM TERMINALS - DESCRIPTION OF TERMINALS 28

Multipurpose and bulk terminal specialised in cereal warehouses and general cargo sheds. It has automated facilities for dry bulk cargo imports and handles containers for local importers and exporters.

A CORUÑA - Terminales Marítimos de Galicia (TMGA)

The terminal offers an efficient handling for all cargoes with modern machinery and the latest IT systems for satisfying the highest demands of our customers. It is also the most modern terminal in Spain for handling powder and bulk materials and complies with the highest standards of environmental, health and safety.

SANTANDER - Noatum Terminal Santander

Multipurpose terminal specialised in project cargo. The region is a renowned centre of activity for green energy generated via wind farms and TMGA is an integral part of the regional wind farm supply chain.

FERROL - Terminales Marítimos de Galicia (TMGA)

Noatum UECC is a multimodal terminal for the handling of vehicles, H&H and general cargo through platform loaded and unloaded by vessel, truck or train.

PASAJES - Noatum UECC Terminal Pasajes

Autoterminal is a multimodal terminal with standards of high efficiency in its operations handling vehicles loaded and unloaded from vessels, trucks and trains.

BARCELONA - Autoterminal

Stevedoring company specialized in bulk, steel products, project cargo and general cargo. It has all the human and material resources to handle 3 M tonnes per year and extensive outdoor and undercover storage, with status of bonded warehouse and license of London Metal Exchange.

BILBAO - Servicios Logísticos Portuarios (S.L.P.)

CONTAINER MULTIPURPOSEAUTOMOTIVEBULK REEFER

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NOATUM TERMINALS - DESCRIPTION OF TERMINALS 29

Stevedoring company that offers ship loading and unloading services as well as storage for agricultural products and general cargo.

TARRAGONA - Noatum Terminal TarragonaNoatum Terminal Castellón provides a full one-stop-shop service for general cargo, container and dry bulk cargo handling services in the port of Castellón. Located in the Spanish tile producing centre, the terminal’s staff is specialised in handling delicate cargoes.

CASTELLÓN - Noatum Terminal Castellón

A specialised reefer terminal with capacity of 7,500 pallet spaces for perishable cargoes. Fricasa is the main terminal for the export of locally produced Clementine oranges, as well as for citrus imports from South Africa & South America.

CASTELLÓN - Fricasa Noatum Reefer TerminalNoatum Terminal Sagunto was established in 1990 and operates the largest multi-purpose terminal at the Port of Sagunto.

SAGUNTO - Noatum Terminal Sagunto

A stevedoring company operating multipurpose facilities focused primarily on containerized goods and project cargo. The only stevedoring company, among all docks in Santa Lucia, with covered port warehouses.

Noatum Terminal Malaga enjoys a strategic location for the handling of all types of cargoes in the South of Spain. It is a sheltered port with a nonstop service for clients and great ability to adapt to its needs.

MÁLAGA - Noatum Terminal Málaga

CONTAINER MULTIPURPOSEAUTOMOTIVEBULK REEFER

CARTAGENA - Terminal Marítima de Cartagena (TMC)

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NOATUM TERMINALS - DESCRIPTION OF DEPOTS 30

Depot of empty containers for exportation that also offers customers a full tuning service: inspection, cleaning and repairing normal, reefer or tank containers, among others. In addition, we have a supply of second-hand containers at reduced rates, which are ideal as one-use containers for exportation or for alternative uses of transportation (storage, building, etc.).

BARCELONA - Progeco EspañaThis company provides specialized services to shipping companies and logistics operators such as maintaining and repairing dry, reefer or tank containers, as well as maintaining and repairing port machinery. They are also highly renowned specialists in services for lashing and consolidating special goods in containers or other types of means of transport.

CASTELLÓN - G&T Port

Progeco Vigo, S.A. started in 1994 and was the first container depot in the Port of Vigo. At present, Progeco Vigo is a leading company in this port, not only in container storage but also in consolidating containers, in lashing special cargo in platform containers and in selling second-hand sea containers.

VIGO - Progeco VigoSince 1985, Progeco Bilbao S.A. has been a leading company in integrated logistics services for the commercial and industrial sector, for any need related with containers, storage and transport.

BILBAO - Progeco Bilbao

Vigo Fresh Port offers services and solutions to speed up the logistics process and the inspections that Plant Health and Border Health carry out on any type of perishable goods (fruit, vegetables and flowers) that come to and from Vigo.

VIGO - Vigo Fresh Port

132,000 sqm

54,000 sqm

11,000 sqm

60,000 sqm

1,000 sqmReefer

warehouses

Page 123 of 223

www.noatummaritime.comPage 124 of 223

Maritima del Mediterraneo, S.A.U. was not able to provide pictures of offices, facilities and equipmentrelevant to providing services.

Additional Information: The brochure belongs to Marmedsa Noatum Maritime, parent company.

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* * * * T R A C E B o o k m a r k : F i n a n c i a l s | Q u e s t i o n S e c t i o n 1 0

Financials

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Financials

Maritima del Mediterraneo, S.A.U. has a recent audited financial statement prepared by an externalauditor.

A copy of the audited financial statement is attached.:

Page 127 of 223

of 223

English Translation of Auditor's Opinion Statement:

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Auditors’ Report on the Standalone Annual Accounts

To the shareholders of Marítima del Mediterráneo, S.A.U.

(Free translation from the original in Spanish. In the event of discrepancy, the Spanish-language version prevails.)

Annual Accounts report

We have audited the standalone annual accounts of Marítima del Mediterráneo, S.A.U. which comprise the balance sheet at 31 December 2016, the income statement, the statement of changes in equity and the statement of cash flows for the year ended and the notes thereto.

Company’s directors Annual Accounts responsibility

The Company’s directors are responsible for the preparation of the annual accounts which are presented fairly, in all respects, as for the equity, the financial position and the operational results in accordance with the financial information legislation in Spain, as it is specified in Note 2.1 of the accompanying annual accounts. Therefore, Company’s directors are responsible over all internal controls needed for the preparation of this annual accounts, mitigating the risk of material correction due to fraud or errors.

Auditor’s responsibilities

Our responsibility is to express an opinion on the accompanying annual accounts based on our audit. We have conducted our audit in accordance with prevailing legislation which regulates the audit of accounts in Spain, which requires an ethic requirements and the planning and carried out of the audit in order to obtain a reasonable reliability on the annual accounts.

An audit requires examine, in a test basis, supporting evidence of the amounts and disclosures in the annual accounts. Audit procedures conducted are based on the auditor judgement, including the evaluation of material correction due to fraud or errors. In order to carry out this evaluation, the auditor considers the internal control needed to prepare the annual accounts with the objective of performing audit procedures accordingly to the circumstances, and not with the objective to provide an opinion about the effectiveness of the Company internal control. An audit, also considers the evaluation of the accounting principles, the reasonability of the accounting estimation and the evaluation of the overall presentation.

We consider that we have enough evidence to express an audit opinion.

Opinion

In our opinion, the accompanying annual accounts present fairly, in all material respects, the equity and financial position of Marítima del Mediterráneo, S.A.U. at 31 December 2016 and the operational results and cash flows for the year ended, in accordance with the financial information legislation in Spain, especially about accounting principles and criteria

Page 198 of 223

Emphasis of matter paragraph

We draw attention to Note 18 of the accompanying annual accounts which indicates the balances and transactions between Marítima del Mediterráneo, S.A.U. and Group and Associated companies. As a consequence, annual accounts analysis or interpretations should be carried out considering this circumstance. This matter does not affect our opinion.

Legal requirement report

The management report accompanied regarding year ended 31 December 2016 contains the explanations needed about the business trend and other facts, accordingly to the Directors. We have verified than the accounting information included in the management report is in accordance with the annual accounts. Our scope of work as an auditors about management report is limited to the above paragraph and it does not include the reviewing of information different than the accounting records of Marítima del Mediterráneo, S.A.U.

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Financial References:

Type: Bank

Company/InstitutionName:

Sabadell Atlantico

Contact Name: JOSE M. BALASCH CASAS

Job Title: Manager of Business Banking

Email Address: [email protected]

Address: Via Laietana, 47

City: Barcelona

State/Province: Barcelona

Postal Code: 08003

Country: Spain

Telephone: +34 93 342 71 35

Facsimile: +34 93 342 71 36

TRACE received a satisfactory confidential financial reference for Maritima del Mediterraneo,S.A.U..

Maritima del Mediterraneo, S.A.U. has stated that its books and records are maintained in accordancewith generally accepted accounting practices.

Maritima del Mediterraneo, S.A.U. has certified that it is adequately financed and has sufficientresources to conduct business.

Additional Information: Pages 32 and 33 of the financial statement notes the following entities:Actanis SAAtlas Forwarding Mediterráneo, S.L.Barcelona Container Depot Services, S.L.C. Steinweg Iberia, S.LCombalia Agencia Maritima, S.ACotransa, S.A.Espada Servicios Maritimos SLFrigorificos del Castellon SAGrupajes y Trincajes Port SLLematrans Castellón, S.A.Levanteport SLLevantino Aragonesa de Transitos SA.Noatum Codemar Tarragona, S.A.U.Noatum Terminal Castellon, S.ANoatum UECC Terminal Pasajes SLSamskip Multimodal Container Logistics, S.A.Servicio Balear de Amarradores SLServicios Logisticos Portuarios SLPTerminal Maritima de Cartagena SLUniversal Global Logistics, S.A.U.Viajes Cosmos SLVinaitrans Bizkaia SL

These entities are other companies under the same group, not subsidiaries.

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* * * * T R A C E B o o k m a r k : B u s i n e s s _ R e f e r e n c e s | Q u e s t i o n S e c t i o n 9

BusinessReferences

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Business References

Business References:

Company Name: NYK Group Europe Ltd

Contact Name: Trevor Streeter

Job Title: Manager (Corporate Planning)


Address: City Point 1, Ropemaker Street

City: London

Postal Code: 3012

Country: United Kingdom

Telephone: +44 20 7090 2000

Facsimile: +44 20 7065 6837

Company Name: NILE DUTCH

Contact Name: Jan Willem de Braal

Job Title: Member of the Executive Board/COO


Address: Alameda Macae Jenuitiba,30 , Grania dos Cavaleiros Macae RJ

City: Macae

State/Province: Rio de Janeiro

Postal Code: 27930-070

Country: Brazil

Telephone: +31 10 281 82 18

Company Name: Rigmar Training Centre

Contact Name: Ray Liversidge

Job Title: Technical Director

Email Address: [email protected]; [email protected]

Address: Westblaak 95

City: Rotterdam

Postal Code: AB12 3AX

Country: Netherlands

Telephone: +44 1224 243 012

Facsimile: +44 1224 894 041

Company Name: Maersk Supply Service

Contact Name: Peter Bendix Erikson

Job Title: Manager Chartering & Operations


Address: Esplanaden 50

City: Copenhagen

State/Province: Copenhagen

Postal Code: 1098

Country: Denmark

Page 202 of 223

Telephone: +45 3363 3343

Facsimile: N/A

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* * * * T R A C E B o o k m a r k : C o m p l i a n c e _ I n f o r m a t i o n | Q u e s t i o n S e c t i o n 1 4

ComplianceInformation

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Compliance Information

TRACE Code of Conduct

Maritima del Mediterraneo, S.A.U. hereby adopts the following Code of Conduct with respect to allcommercial transactions, whether local or international:

LOCAL AND FOREIGN LAWS: Neither Maritima del Mediterraneo, S.A.U., nor anyone acting onbehalf of Maritima del Mediterraneo, S.A.U., may, directly or indirectly, break or seek to evade the lawsor regulations of any country in, through, or with which Maritima del Mediterraneo, S.A.U. seeks to dobusiness. That an illegal act is a “customary business practice” in any country is not sufficientjustification for violation of this provision.

BRIBERY AND FACILITATING PAYMENTS: Neither Maritima del Mediterraneo, S.A.U., nor anyoneacting on behalf of Maritima del Mediterraneo, S.A.U., may, directly or indirectly, offer or provide abribe, and all demands for bribes must be expressly rejected.

Bribery includes any offer, promise, or gift of any pecuniary or other advantage, whether directly orthrough intermediaries, to a public official, political party, political candidate or party official or anyprivate sector employee, in order that the official or employee act or refrain from acting in relation tothe performance of their duties, in order to obtain or retain business or other business advantage.

Neither Maritima del Mediterraneo, S.A.U., nor anyone acting on behalf of Maritima del Mediterraneo,S.A.U., shall offer or make facilitating payments to government officials in order to encourage them toexpedite a routine governmental task that they are otherwise required to undertake. Maritima delMediterraneo, S.A.U., or anyone acting on behalf of Maritima del Mediterraneo, S.A.U., shall havediscretion to deviate from this prohibition if he/she believes that there is an immediate threat tohis/her or another’s health or safety. The circumstances of such payment must be reported as soonas possible after the event and the payment properly recorded. Maritima del Mediterraneo, S.A.U.recognizes that extortion is widespread and that participation by the business community increasesdemand for facilitating payments.

KICK-BACKS: Neither Maritima del Mediterraneo, S.A.U., nor anyone acting on behalf of Maritima delMediterraneo, S.A.U., may offer or accept a “kick-back” of any portion of a contract payment toemployees of other parties to a contract or use other vehicles such as subcontracts, purchase ordersor consulting agreements to channel payments to government officials, political candidates,employees of other parties to a contract, their relatives or business associates.

A “kickback” is a particular form of bribe which takes place when a person entrusted by an employeror public function has some responsibility for the granting of a benefit and does so in a way thatsecures a return (kickback) of some of the value of that transaction or benefit for that personwithout the knowledge or authorization of the employer or public body to which the person isaccountable.

CONFLICTS OF INTEREST: Maritima del Mediterraneo, S.A.U., and anyone acting on behalf ofMaritima del Mediterraneo, S.A.U., shall avoid any relationship or activity that might impair, or appearto impair, the ability to render objective and appropriate business decisions in the performance of ourjobs.

POLITICAL CONTRIBUTIONS: Neither Maritima del Mediterraneo, S.A.U., nor anyone acting onbehalf of Maritima del Mediterraneo, S.A.U., may make a political contribution in order to obtain anunlawful business advantage. Maritima del Mediterraneo, S.A.U. shall comply with all public disclosurerequirements.

PHILANTHROPIC CONTRIBUTIONS: Maritima del Mediterraneo, S.A.U., and anyone acting on

Page 205 of 223

behalf of Maritima del Mediterraneo, S.A.U., may make contributions only for bona fide charitablepurposes and only where permitted by the laws of the country in which the contribution is made.Contributions made in order to obtain an unlawful business advantage are prohibited.

EXTORTION: Maritima del Mediterraneo, S.A.U., and anyone acting on behalf of Maritima delMediterraneo, S.A.U., shall reject any direct or indirect request by a public official, political party, partyofficial, or private sector employee for undue pecuniary or other advantage, to act or refrain fromacting in relation to his or her duties.

GIFTS, HOSPITALITY AND ENTERTAINMENT: Maritima del Mediterraneo, S.A.U., and anyoneacting on behalf of Maritima del Mediterraneo, S.A.U., shall avoid the offer or receipt of gifts, meals,entertainment, hospitality or payment of expenses whenever these could materially affect theoutcome of business transactions, are not reasonable and bona fide expenditures, or are in violationof the laws of the country of the recipient.

REPORTING REQUIREMENT: All officers and employees of Maritima del Mediterraneo, S.A.U. andanyone acting on behalf of Maritima del Mediterraneo, S.A.U. shall promptly report any actual orpotential violation of this Code of Conduct, including any instance in which he/she is subjected to anyform of extortion or is asked to participate in any way in a bribery scheme, to Maritima delMediterraneo, S.A.U. senior corporate management, without fear that his/her business relationship oremployment will be adversely affected. Reports shall be treated confidentially to the extent possible,consistent with the need to conduct a thorough investigation.

COMPANY RESPONSE: No employee will suffer demotion, penalty or other adverse consequencesfor not paying bribes even when Maritima del Mediterraneo, S.A.U. may lose business as a result ofthe employee’s refusal to do so. Employees are required to report alleged violations of this Code ofConduct to senior management and no employee will suffer demotion, penalty or adverseconsequences for reporting.

Maritima del Mediterraneo, S.A.U. shall, where appropriate, sanction employees, suppliers or otherbusiness partners for violations of this Code of Conduct.

ACCOUNTS: Maritima del Mediterraneo, S.A.U. shall maintain complete and accurate financial records,ensuring that all transactions are properly, accurately and fairly recorded in a single set of books.

COMMUNICATIONS AND TRAINING: Maritima del Mediterraneo, S.A.U. agrees to participate inanti-corruption training provided by TRACE, or by a comparable organization, and to make annualtraining available for all principals and for all key employees involved in sales, marketing, andprocurement.

The person whose signature appears below is duly authorized to adopt this Code of Conduct onbehalf of Maritima del Mediterraneo, S.A.U. and, if signing on behalf of a company, agrees that thisCode shall apply to all officers, employees and representatives of Maritima del Mediterraneo, S.A.U..

I hereby adopt and agree to comply with the TRACE Code of Conduct as outlined above.

I understand that violation of the Code of Conduct will be grounds for immediate revocation ofTRACE Certification, if applicable.

Electronic Signature: Federico Lopez Aguiar

Title: Director, Oil & Gas Division

Date: 10 November 2017

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Maritima del Mediterraneo, S.A.U. will distribute this anti-bribery policy to its employees.

Maritima del Mediterraneo, S.A.U. will require its subsidiaries, affiliates, joint-venture partners,suppliers, subcontractors and other third parties to comply with this anti-bribery policy.

Maritima del Mediterraneo, S.A.U. has a written compliance policy.

The compliance policy is distributed to employees.

Maritima del Mediterraneo, S.A.U. requires its subsidiaries, affiliates, joint-venture partners, suppliers,subcontractors and other third parties to comply with its compliance policy.

Maritima del Mediterraneo, S.A.U. has a system that allows its employees to ask questions or reportconcerns regarding compliance and anti-bribery matters.

Maritima del Mediterraneo, S.A.U. conducts periodic assessments of compliance and anti-bribery risks.

The last assessment was completed: 15 June 2016

Maritima del Mediterraneo, S.A.U. has a policy addressing human rights awareness, education andtraining.

Maritima del Mediterraneo, S.A.U. has a DUNS number: 460035926

Additional Information: Marítima del Mediterráneo, S.A.U is under a review of a Risk Map 360ºassessmente that includes Legal Compliance amongst others.Marítima del Mediterráneo has not published but has a RSC internal report based on the GlobalReport Initiative. It means that the company has internal procedures to ensure a continualimprovement of these kind of issues (RSC, Human Rights, etc.)

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* * * * T R A C E B o o k m a r k : R e p u t a t i o n a l _ S c r e e n i n g | R e p u t a t i o n a l S c r e e n i n g

ReputationalScreening

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Reputational Screening Results Summary for

Maritima del Mediterraneo, S.A.U. 13 December 2017 No results were found.

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Maritima del Mediterraneo, S.A.U. 12 June, 2017 No results were found.

Page 210 of 223


Maritima del Mediterraneo, S.A.U.

January 18, 2016

No adverse results were found.

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Maritima del Mediterraneo, S.A.U. November 11, 2014

No adverse results were found.

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* * * * T R A C E B o o k m a r k : A d d i t i o n a l _ D o c u m e n t s | A d d i t i o n a l D o c u m e n t s

AdditionalDocuments

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Subsidiaries of Maritima del Mediterraneo, S.A. - Supplement to Associated offices section

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Supplement to Associated Offices & Entities Section: Subsidiaries of Subsidiaries of Maritima del Mediterraneo, S.A.

Name Street Address City, State Country Postal Code

Your Ownership %

Other Owners’ Names and Ownership %

Terminales Marítimos de Galicia, S.L.

Muelle de Calvo Sotelo, s/n

A Coruña Spain 1500619,97% through

Marítima Consinflet, S.A.

Berge y Cía., S.A. -15%Tejero Marítima, S.L. - 42,50%Marítima Consiflet, S.A. - 42,50%

Transportes Rontegui, S.L.U.

Av. Antonio Alzaga, 138 Santurtzi Spain 48980

22,03% through Progeco Bilbao,

S.A.

Progeco Bilbao, S.A. - 100%

Transportes Portuarios

Gallegos, S.L.

Muelle Guixar Ed PIF Ofic 5, Local A

Vigo Spain 3620123,5% through

Marítima Consinflet, S.A.

Bencina Inversiones, S.L. - 50%Marítima Consiflet, S.A. - 50%

TPGL-Transportes Portuguses e

Galegos Unipessoal, Lda.

Gonçalves Zarco, 1129 E Sala 125

Leça da Palmeira (Matosinhos)

Portugal 4450-685

23,5% through Transportes Portuarios

Gallegos, S.L.

Transportes Portuarios Gallegos, S.L. - 100%

SLP Tránsitos, S.L. Gran Vía, 40 bis 7 Bilbao Spain 48009

24,99% through Servicios Logísticos

Portuarios SLP, S.A.

Servicios Logísticos Portuarios SLP, S.A. - 100%

S5 Agency World (India) Private

Limited

Unit806,L8 Platinum Technopark, Plot 17&18,Sector30A

Vashi,Navi Mumbai (Maharashtra)

India 40070525% through S5 Agency World, Ltd

S5 Agency World, Ltd. - 100%

Vinatrans Bizkaia, S.L.

Antonio Alzagas, 142 Santurtzi Spain 48980

22,33% through Marítima del

Mediterráneo, S.A.U. and

Progeco Bilbao, S.A.

Eduardo Sainz Quintana - 5,2678%Progeco Bilbao, S.A. - 10,5209%Inversiones Ergoien, S.L. - 10,5209%Vinatrans Bizkaia, S.L. (autocartera) -12,6014%E. Erhardt y Cía., S.A. - 20,0089%Marítima del Mediterráneo, S.A.U. - 20,0089%Vasco Catalana de Consignaciones, S.A. - 21,0713%

Lager Logistics, S.L. Peña Prieta, s/n Santander Spain 39011

28,86% through Montañesa de

Consignaciones, S.L.

Montañesa de Consignaciones, S.L. - 50%E. Erhardt y Cía., S.A. - 50%

TRACE _________________

Page 215 of 223

Progeco Vigo, S.A. Pontevedra, 4 3º Vigo Spain 36201


Mediterráneo, S.A.U.,

Progeco España, S.A. and Progeco Bilbao, S.A.

Progeco España, S.A. - 10%Progeco Bilbao, S.A. - 20%Marítima del Mediterráneo, S.A.U. - 20%Vasco Gallega Consignaciones, S.A. - 50%

Progeco Bilbao, S.A.

Av. Antonio Alzaga, 138 Santurtzi Spain 48980


Mediterráneo, S.A.U and Progeco

España. S.A.

Transcoma Grupo Empresarial, S.L. -8,84%A. Pérez y Cía., S.L. -10%Marítima Euroship -10,61%Marítima del Mediterráneo, S.A.U. - 14,31%Progeco España, S.A. - 15%Vasco Catalana de Consignaciones, S.A. - 16,24%MCANDREWS, S.A.U. - 25%

Tandem Global Logistics (HK) Ltd.

Unit 1501-03, Peninsula Tower, 538 Castle Peak Rd.

Kowloon Hong Kong .

33% through Tandem

Holding (Hk) Ltd

Tandem Holding (Hk) Ltd. - 100%

Tandem Holding (HK) Ltd.

Unit 1501-03, Peninsula Tower, 538 Castle Peak Rd

Kowloon Hong Kong .

33% through Universal

Global Logístics,

S.A.U.

C.H.Powell Company - 33%Azuma Shipping Co. ,Ltd. - 34%Universal Global Logistics, S.A.U. -33%

Tandem Global Logistics (SH) Ltd.

Rm 7001 Novel Building, 887 Huai Hai Road

Shanghai China 200020

33% through Tandem

Holding (Hk) Ltd

Tandem Holding (Hk) Ltd. - 100%

Molina Marítima, S.A.

Av. Julio Moreno, 57, A.C.31

Granada Spain 18613

24,4% through Erhardt

Mediterráneo, S.L.

Antonio Molina Cádiz - 2,3796%Vasco Gallega Consignaciones, S.A. - 48,8102%Erhardt Mediterráneo, S.L. - 48,8102%

Terminal Docks, S.L.

Av. Ferrandis Salvador, s/n Grao

Castellón de la Plana Spain 12100

35,05% throughLevantino

Aragonesa de Tránsitos, S.A.

Levantino Aragonesa de Tránsitos, S.A. -100%

Marítima de Galicia, S.L.

Pl. Compostela, 19 ID B Vigo Spain 36201

47% through Marítima

Consinflet, S.A. and Atlas

Forwarding,S.L.

Atlas Forwarding, S.L. - 0,2000%

Marítima Consiflet, S.A. - 99,8000%

Page 216 of 223

Atlas Forwarding, S.L.

C/ Cuesta de la Palloza, 1, entlo.

A Coruña Spain 15006

47% through Marítima

Consinflet, S.A. and Marítima

de Galicia,S.L.

Marítima de Galicia, S.L. - 0,0017%

Marítima Consiflet, S.A. - 99,9983%

Elite Spain Logistics, S.L.

C/ Atlàntic, 112-120 Barcelona Spain 08040

49% through Universal

Global Logístics,

S.A.U.

Universal Global Logistics, S.A.U. -49%Elite Europe N.V. -51%

Atlas Forwarding Mediterráneo, S.L.

Pl. Del Rey /Ed.Real, 8, 2º Cartagena Spain 30201

50% through Marítima del


Erhardt Mediterráneo,

S.L.

Marítima del Mediterráneo, S.A.U. - 0,005%E. Erhardt y Cía., S.A. - 0,005%Erhardt Mediterráneo, S.L. - 99,99%

Terminal Marítima de Cartagena, S.L.

Pl. Del Rey /Ed.Real, 8, 2º Cartagena Spain 30201

50% through Marítima del


Erhardt Mediterráneo,

S.L.

Marítima del Mediterráneo, S.A.U. - 0,005%E. Erhardt y Cía., S.A. - 0,005%Erhardt Mediterráneo, S.L. - 99,99%

Lematrans Castellón, S.A.

Av. Ferrandis Salvador, s/n Grao

Castellón de la Plana Spain 12100


Mediterráneo, S.A.U. and Levantino

Aragonesa de Tránsitos, S.A.

Francisco Javier Ibáñez Cabedo - 2,5000%Pitarch Logística, S.A. - 15,9500%Levantino Aragonesa de Tránsitos, S.A. -31,5500%Marítima del Mediterráneo, S.A.U. - 50%

Agencia Marítima de Consignaciones,

S.A.

Al Alameda Recalde, 27 Bilbao Spain 48009


Mediterráneo, S.A.U. and Servicios Logísticos

Portuarios,S.L.

Servicios Logísticos Portuarios, S.L. -49,9976%

Marítima del Mediterráneo, S.A.U. - 50,0024%

Page 217 of 223

Antonio Campoy García

Owner/Director/Employee: Name of Company: Responsibilities/Duties:Member of the Board of Directors

Agencia Marítima de Consignaciones, S.A.

Representative of the Member of the Board (Universal Marítima, S.l.) - President

Member of the Board of Directors

Atlas Forwarding, S.L. Representative of the Member of the Board (Marítima del Mediterráneo, S.A.U.). – Vice-president



Representative of the Member of the Board (Marítima del Mediterráneo, S.A.U.) - President


Auto Terminal, S.A. Representative of the Member of the Board (Marítima del Mediterráneo, S.A.U.).


Barcelona Container Depot Service, S.L.



C.Steinweg Iberia, S.L. Sole Administrator


Combalia Agencia Marítima, S.A. President of the Board of Directors & CEO


Cotransa, S.A. Representative of the Member of the Board (Marítima del Mediterráneo, S.A.U.) - President


Elite Spain Logistic, S.L. Member of the Board of Directors


Erhardt Mediterráneo, S.L. Representative of the Member of the Board (Marítima del Mediterráneo, S.A.U.) - Vice-president


Frigoríficos de Castellón, S.A. Representative of the Member of the Board (Marítima del Mediterráneo, S.A.U.) - President


Marítima Consiflet, S.A. Representative of the Member of the Board (Marítima del Mediterráneo, S.A.U.) - Vice-president


Marítima de Galicia, S.L. Representative of the Member of the Board (Marítima del Mediterráneo, S.A.U.) - President


Marítima del Mediterráneo, S.A.U. President of the Board of Directors


Montañesa de Consignaciones, S.L.

President of the Board of Directors


Noatum Codemar Tarragona, S.A.U.



Noatum Terminal Castellón, S.A. Representative of the Member of the Board (Marítima del Mediterráneo, S.A.U.) - President


Noatum Terminal Polivante Santander, S.L.

President of the Board of Directors


Progeco Bilbao, S.A. Representative of the Member of the Board (Progeco España, S.A.) - President


Progeco España, S.A. Representative of the Member of the Board (Marítima del Mediterráneo, S.A.U.) - President


Progeco Vigo, S.A. Representative of the Member of the Board (Progeco España, S.A.)


Servicios Logísticos Portuarios SLP, S.A.

Representative of the Member of the Board (Universal Marítima, S.L.)


S5 Agency World Limited Member of the Board of Directors






Representative of the Member of the Board (Marítima del Mediterráneo, S.A.U.)


Universal Global Logistics, S.A.U. Sole Administrator

TRACE ____Attachment for CVs:

Page 218 of 223

Jaime Valcárcel Martínez


Combalía Agencia Marítima, S.A. CEO


Cotransa, S.A. Representative of the Member of the Board (Universal Global Logistics, S.A.U.)


Marmedsa Group Portugal, S.A. Administrator


Marmedsa Logistic Services, S.A. Representative of the Sole Administrator (Universal Marítima, S.L.)


Marmedsa Noatum Chile SpA Joint representative of the Sole Administrator (Marítima del Mediterráneo, S.A.U.)



Representative of the Member of the Board (Universal Global Logistics, S.A.U.)


Progeco España, S.A. Representative of the Member of the Board (Universal Global Logistics, S.A.U.)


Samskip Multimodal Container Logistics, S.A.

Representative of the Sole Administrator (Universal Marítima, S.L.).


Universal Global Logistics, S.A.R.L.

Manager


Universal Marítima, S.l. Representative of the Joint Administrator (Universal Global Logistics, S.A.U.)


Viajes Cosmos, S.l. Representative of the Joint Administrator (Universal Global Logistics, S.A.U.)

Jordi Trius Traserra


Combalía Agencia Marítima, S.A. Member of the Board of Directors


Cotransa, S.A. Representative of the Member of the Board (Universal Marítima, S.L.)


Marmedsa Group Portugal, S.A. Administrator


Marmedsa, S.A.R.L. Manager


Progeco España, S.A. Representative of the Member of the Board (Universal Marítima, S.L.)


Universal Marítima, S.l. Representative of the Joint Administrator (Marítima del Mediterráneo, S.A.U.)


Viajes Cosmos, S.l. Representative of the Joint Administrator (Marítima del Mediterráneo, S.A.U.)

Rafael Torres Brinkmann


Elite Spain Logistics, S.L. CEO

Page 219 of 223


Cotransa, S.A. Representative of the Member of the Board (Combalia Agencia Marítima, S.A.)


Marmedsa Noatum Chile SpA Joint representative of the Sole Administrator (Marítima del Mediterráneo, S.A.U.)


Tandem Global Logistics (HK) Limited



Tandem Global Logistics (India) Administrator


Tandem Holding (HK) Limited Member of the Board of Directors


Universal Global Logistics, S.A.R.L.

Manager

Julián Tapias Herrero



Representative of the Member of the Board (Combalía Agencia Marítima, S.A.)


S5 Agency World Limited Member of the Board of Directors

Joaquín Pablo Ramón Lestau


Agencia Marítima de Consignaciones, S.A.

Representative of the Member of the Board (Marítima del Mediterráneo, S.A.U.) - CEO


Atlas Forwarding, S.L. Representative of the Member of the Board (Universal Marítima, S.L.)



Representative of the Member of the Board (Universal Marítima, S.L.)


Erhardt Mediterráneo, S.L. Representative of the Member of the Board (Universal Marítima, S.L.) – Secretary


Frigoríficos de Castellón, S.A. Representative of the Member of the Board (Combalia Agencia Marítima) - CEO


Lager Logistics, S.L. Member of the Board - Secretary


Marítima Consiflet, S.A. Representative of the Member of the Board (Universal Marítima, S.L.) - Secretary


Marítima de Galicia, S.L. Representative of the Member of the Board (Universal Marítima, S.L.)


Molina Marítima, S.A. Representative of the Member of the Board (Marítima del Mediterráneo, S.A.U.) - Secretary


Montañesa de Consignaciones, S.L.

CEO



Representative of the Member of the Board (Universal Marítima, S.L.) - CEO


Noatum Terminal de Castellón, S.A.

Representative of the Member of the Board (Universal Global Logistics, S.A.U.)


Noatum Terminal Graneles Santander, S.A.



Noatum Terminal Polivalente Santander, S.L.


Member of the Board of Servicios Logísticos Portuarios Representative of the Member of the Board

Page 220 of 223

Directors SLP, S.A. (Marítima del Mediterráneo, S.A.U.)Member of the Board of Directors

Sociedad de Estiba y Desestiba del Puerto de Castellón SAGEP

Representative of the Member of the Board (Noatum Terminal Castellón, S.A.)


Terminal Marítima de Cartagena, S.l.




Representative of the Member of the Board (Atlas Forwarding, S.L.)

Iñaki Zameza Arano


Progeco Bilbao, S.A. Representative of the Member of the Board (Marítima del Mediterráneo, S.A.U.)


Progeco Vigo, S.A. Representative of the Member of the Board (Marítima del Mediterráneo, S.A.U.)


Vinatrans Bizkaia, S.L. Representative of the Member of the Board (Marítima del Mediterráneo, S.A.U.)

Rafael Soler Cortell





Erhardt Mediterráneo, S.L. Representative of the Member of the Board (Combalía Agencia Marítima, S.A.)


Frigoríficos de Castellón, S.A. Representative of the Member of the Board (Universal Global Logistcs, S.A.U.)


Lematrans Castellón, S.A. Representative of the Member of the Board (Universal Marítima, S.L.)




Page 221 of 223

* * * * T R A C E B o o k m a r k : A n t i - B r i b e r y _ T r a i n i n g | A n t i B r i b e r y T r a i n i n g

Anti-BriberyTraining

Page 222 of 223

This is to certify that on12 May 2017

Federico Lopez de Aguiar

has successfully completed the coursework and theexamination for the TRACE Anti-Bribery Course and has

thereby earned this certificate.

TRACE Anti-Bribery Course

www.TRACEinternational.org

Page 223 of 223

* * * * T R A C E B o o k m a r k : B a c k _ C o v e r

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