Look further A solid growth maintened in 2015, through the same fondamentals

*Following Mario Guevara s decision to retire, and

subject to the decisions of the Shareholders' Meeting

of May 18th, 2016, the Board of Directors will combine the

Chairman and Chief Executive Officer functions and will

nominate Bruno Bich Chairman and Chief Executive Officer.

Bruno Bich*, Chairman of the Board et Mario Guevara*, Director and CEO

ANNUAL REPORT 2015

WHY IT WORKS