ABOUT US INVESTMENT STRATEGY PORTFOLIO CONTACT Investment strategy Focus on long term value creation Allocation focused on equity, both private and public, and selective credit investments. Combining long-term and opportunistic investments. Prudent use of leverage. Searching for top quality businesses in sectors with positive dynamics Proven business models with a sustainable competitive advantage. Preference for sectors showing structural growth and not easily disrupted. Companies showing an attractive cash flow and ROCE profile with growth prospects. In association with top managers and partners Focus on businesses with strong management teams. Proactively partnering with like-minded investors. Aligning interests with the common goal of value creation. Flexibility around the investment Equity tickets typically ranging from €20-200m (sweet spot €50-100m). Agnostic in terms of sector, geography and security. Ability for being a majority or minority shareholder. Generally avoiding investments in Start up (VC) companies with unproven business models. Cyclical businesses, highly levered or which require significant restructuring. Businesses heavily dependent on regulation.

ABOUT US INVESTMENT STRATEGY PORTFOLIO CONTACT Legacy A.G.H. Foundation A.G.H. Foundation was created in Madrid in 2001 to cater for the needs of people in depressed economies. A.G.H.'s main focus is on education, health and environmental issues. A.G.H. has focused its activity on Africa (Sudan, Tanzania, Zimbabwe, Uganda, Kenia, Senegal), South America (Ecuador, Honduras, Nicaragua) and Asia (China, Thailand). The Foundation has established and maintains several schools, hospitals, churches and refugee camps. Key projects: Mang’ola Valley (Tanzania): medical care services, secondary school, environmental conservation. Yirol and Aliap (Sudan): schooling for c. 3,000 kids. Chone (Ecuador): collaboration with the public authorities on health issues of rural population.

ABOUT US INVESTMENT STRATEGY PORTFOLIO CONTACT Torreal's headquarters Fortuny 1 28010 MADRID Telephone: (+34) 91 575 66 22 E-mail: info@torreal.com Copyright © 2008 Torreal S.A. all rights reserved, inscribed in the Mercantile Registry of Madrid, Book 5.080, Section 8th, Sheet 83, Page M-83.266.

ABOUT US INVESTMENT STRATEGY PORTFOLIO CONTACT Board of Directors Torreal's Board of Directors is comprised of the following members: Honorific President - Juan Abelló Gallo Executive President - Miguel Abelló Gamazo Vice-Chairman - Anna Gamazo Hohenlohe Secretary - José Díaz-Rato Revuelta Non-member Vice-secretary - Almudena Egaña Huerta Non-executive Members: Juan Claudio Abelló Gamazo Alejandro Abelló Gamazo Cristian Abelló Gamazo Executive Members: Alfredo Tennenbaum Casado Alvaro Garteiz Castellanos Independent Members: Pío Cabanillas Alonso Emilio Ontiveros Baeza Juan Carlos Ureta Domingo