COFIDES

CHAIRMAN & CEO
Mr. Salvador Marín Hernández

Mr. José Ángel Amor Atienza
Sales Director
Banco Popular Español, S.A

Mr. Antonio Bandrés Cajal
Head of Corporate loans and Sindication
Instituto de Crédito Oficial

Ms. Mar Casanova Llorens
Advisor - Secretary of State for Trade
Ministry of Economy and Competitiveness

Ms. Rosario Casero Echéverri
Head of Strategy
Official Credit Institute

Ms. Mónica Colomer de Selva
Director of Cooperation for Latin America and the Caribbean
Spanish Agency for International Development Cooperation

Mr. José Corral Vallespín
Deputy Chief Risk Officer
Banco Santander, S.A.

Mr. Javier Estévez Zurita
Director of Corporate & Institutional Finance
BBVA, S.A.

Mr. Alberto Gómez Nicolau
Ex Head of International Business (Global Unit)
Banco Santander, S.A.

Mr. Roberto Pagán Díaz
Business Develpment Manager
BBVA

Mr. Francisco Javier Puig Asensio
Executive Managing Director (International Division)
Sabadell Corporate & Wholesale Banking

Mr. José Antonio Zamora Rodríguez
Ministry of Economy and Competitiveness

SECRETARY, NON-MEMBER AND LEGAL COUNSEL
Ms. Ana Victoria Fernández Sáinz de la Maza

COFIDES offers the following financial products:

Share capital holding in the host country company:
These types of shareholdings are always minority, transitional and subject to a repurchase agreement with the Spanish investor. COFIDES does not participate in the day-to-day management of the company.

Quasi-equity instruments:
Includes subordinated or syndicated joint venture loans with repayment linked to project results. These loans may be denominated in euros or other exchange currencies.

Medium and long-term loans to the host country company
With repayment terms associated with the return period envisaged for the project, normally from three to ten years, and combined with lengthy grace periods during the early years of a project.

Medium- and long-term loans to the Spanish investor:
Provision is made for repayment terms associated with the return period envisaged for the project, normally from three to ten years, and combined with lengthy grace periods during the early years of a project.

Multi-project loans:
These loans are designed to enable investors to undertake a number of investment projects in different countries within a specific time frame.

Any given project may benefit from a combination of the above products.

The COFIDES mission rests on the core values described below.

Additionality:
COFIDES bases its dealings, in relation to the private financial sector offers, on the principle of additionality. The key undertaking is that their activities can be both justified and maintained over the long term.

Sustainability:
COFIDES recognises the inherent risks of the activities in which it is involved, and is committed to managing these risks using the most advanced techniques and tools available.

Responsible Financing:
Based around compliance with a series of guiding principles and an established code of ethics that are intended to promote both sound investment coupled with social and environmental sustainability, whilst at the same time attempting to ensure the long-term economic development of local communities. Estimating the development-generated impact of investment in the host country as well as the effect on its IDE (Tax on cash deposits) and on the business fabric of the country are also key elements.

Quality:
COFIDES operates within a quality framework, applying a transparent and efficient internal management model.

Transparency:
COFIDES is aware of the importance of providing accurate and reliable information about its own market activities, its shareholders as well as the company in general, ensuring the demands of confidentiality are securely met in the management of its business.

COFIDES can back projects in all productive industries, including businesses conducted to permanently market Spanish goods or services, where assets requiring medium/long-term financing are involved.

COFIDES’ participation in eligible countries’ financial sector is reviewed on a case-by-case basis, analysing the merits and characteristics of each specific project in detail and in particular their favourable impact on Spanish enterprise and the Spanish economy.

COFIDES does not invest in real estate or defence sectors (except for the manufacturing and marketing of parts, components and subsystems used for non-lethal defence products in a European Union or NATO country), nor where there is inclusion in the Environmental and Social Policy excluded activities list.

COFIDES’ operations generally involve projects in the same industry or business as the sponsors, which must be in possession of sufficient experience in this regard.