Pres institucional 06 16 ev vd(2)

Caja Ingenieros Gestion July 2016 Caja Ingenieros Gestiรณn SGIIC SAU registered number in CNMV: 193. Certification for Management of Collective Investment Institutions and advice on Investment Portfolios.

Table of contents

1. Caja Ingenieros Gestion: Profile and Basic Information 2. Range of Funds 3. Investment Methodology 4. Evolution of Funds and Ratings 5. Internal Control and Back Office 6. Management Team

Caja Ingenieros Gestiรณn SGIIC SAU registered number in CNMV: 193.

Collective Investment Institutions and advice on Investment Portfolios.

Certification for Management of 2

Profile and Basic Information Caja Ingenieros Gestión

Profile • Caja Ingenieros Gestion is the asset management division of Caja de Ingenieros Group.

• Caja de Ingenieros is a cooperative which it provides

service group aimed at professional communities, to

sustainable value in the financial sector, at both individual and collective

level.

• To achieve this, we provide advice and solutions adapted to the individual situation and needs of each partner through

unparalleled service

and a

highly qualified team

that is

committed to the mission of the Group.

• The investment style of Caja de Ingenieros Gestión is essentially based on

independent

analysis with a bottom-up approach and a special emphasis on the business model of the companies.

Caja Ingenieros Gestión SGIIC SAU registered number in CNMV: 193.

Collective Investment Institutions and advice on Investment Portfolios.

Certification for Management of 3

Profile and Basic Information Caja Ingenieros Gestión

Competitive Advantages

Independent management based on a bottomup approach Continuous investment in tools to improve the management process

International Fund Expertise:

Our own management model with a proven trackrecord: 3,63-star Morningstar rating in May ‘16

more than 5,600 funds in Active management with an innovative edge and an emphasis on preservation of capital

the investment universe Investment in human talent

Caja Ingenieros Gestión SGIIC SAU registered number in CNMV: 193.

Collective Investment Institutions and advice on Investment Portfolios.

Certification for Management of 4

Profile and Basic Information Caja de Ingenieros Gestiรณn

Asset Management for Partners and Institutions External Mutual Funds

Traditional Investments

(Open-End)

Liquidity Bonds Shares

Advice to Institutions

Alternative Investments

Currency Management

Discretionary Management of Institutions

Absolute Return Sustainable Growth

Opportunistic ESG FACTORS

Caja Ingenieros Gestiรณn SGIIC SAU registered number in CNMV: 193.

Collective Investment Institutions and advice on Investment Portfolios.

Certification for Management of 5

Profile and Basic Information Caja Ingenieros Gestión

Key Figures

€750 million AUM

1992

2001

11

#

Investment Funds

#

8

Pension Funds

Source: 2006 Prepared by the authors. Data valid on 30/06/2016.2011 2010

2012

2013

Evolution of Morningstar Overall Star Rating

Source: Morningstar. Data valid on 30/06/2016

Caja Ingenieros Gestión SGIIC SAU registered number in CNMV: 193.

Collective Investment Institutions and advice on Investment Portfolios.

Certification for Management of 6

Profile and Basic Information Caja Ingenieros Gestión

Key Milestones CI Gestión takes over management of all investment funds Launch 1st CI fund: Fonengin, FI

1992

2001

CI Gestión receives authorisation for the discretionary pension fund management of CdI Group.

2006

2010

CI Gestión: Receives ISO 9001:2008 Certification for Management of Collective Investment Institutions and Advice on Investment Portfolios

2011

CI Mixto, PP "2013 Pension Fund Award" ("MultiAsset/Moderate" category)

2012

2013

1st fund with SRI philosophy: CI Mundial ISR, FI

CI Gestión is awarded with a bronze rating by Citywire in CI Iberian Equity, FI category

2014

CI Gestion adheres to PRI

Creation of Caja Ingenieros Gestion

2015

CI Gestion achieves 500 million in assets under management

1st fund with 5-star "overall" rating: CI Iberian Equity, FI

Caja Ingenieros Gestión SGIIC SAU registered number in CNMV: 193.

Collective Investment Institutions and advice on Investment Portfolios.

Certification for Management of 7

2014: PRI Membership

What is PRI? PRI is an organisation whose initiative is to promote the application of extra-financial criteria in the selection of companies in the investment universe. Its key partners are the UNEP Finance Initiative and United Nations Global Compact, both organisations linked to the United Nations.

PRI Principles • To incorporate ESG principles into investment decisions • To incorporate ESG issues into practices and policies and adopt an active role as shareholders • To seek transparency on ESG issues from the entities in which investment is made • To promote the UNPRI principles • To work together to enhance the efficiency of the implementation of the principles • To report on our activities and progress towards implementing the UNPRI principles Caja Ingenieros Gestion SGIIC is fully committed to the Principles for Responsible Investment

Consult the Transparency Report: Caja de Ingenieros Gestión - 2015

Caja Ingenieros Gestión SGIIC SAU registered number in CNMV: 193.

Collective Investment Institutions and advice on Investment Portfolios.

Certification for Management of 8

SRI Policy of Caja de Ingenieros Gestiรณn

Principles for the selection of assets Since its creation, Caja Ingenieros Gestion has been aware of the importance of reconciling financial investment carried out through managed funds with social and environmental responsibility. This commitment was demonstrated when, in 2006, CI Gestion became one of the first entities in Spain to register a fund with the SRI label.

In its bid for continuous commitment to SRI, Caja de Ingenieros Gestion will meet the following principles in the investment of all managed funds:

1) The following companies will be excluded from the investment universe: a. b. c. d.

Manufacturers of weapons, explosives or military vehicles Manufacturers of specific components for the military industry (> 10% revenue) Tobacco manufacturers Other companies with revenue from the tobacco industry (> 30% revenue)

2) Sovereign debt from the following countries will be excluded from investment: a. Those classified as having a medium or low HDI according to the UN

Caja Ingenieros Gestiรณn SGIIC SAU registered number in CNMV: 193.

Collective Investment Institutions and advice on Investment Portfolios.

Certification for Management of 9

Table of contents

1. Caja de Ingenieros Gestion: Profile and Basic Information 2. Range of Funds

3. Investment Methodology 4. Evolution of Funds and Ratings 5. Internal Control and Back Office

6. Management Team

Caja Ingenieros Gestiรณn SGIIC SAU registered number in CNMV: 193.

Collective Investment Institutions and advice on Investment Portfolios.

Certification for Management of 10

CAJA INGENIEROS GESTION solid Investment Process Blended Funds

MANAGER

Fixed-Income Funds

Absolute Return Funds (FOFs)

FONENGIN ISR, FI

CI RENTA, FI

CI FONDTESORO, FI

CI PREMIER, FI

CI GESTIÓN ALTERNATIVA, FI

CI GESTIÓN DINÁMICA, FI

Xosé Garrido

Xosé Garrido

CIG Team

Dídac Pérez

CIG Team

CIG Team

30 December 1994

30 May 2003

3 May 2004

29 October 2010

ES0114887039

ES0115532030

ES0142547035

ES0119488007

CAJINDI SM EQUITY Min. inv.: €6

CITESOR SM EQUITY Min. inv.: €1,000

CIGEALT SM EQUITY Min. inv.: €1,000

CAJAINGD SM EQUITY Min. inv.: €1,000

Multi-asset fund of funds Global macro and flexible

Multi-asset fund of funds Global macro and flexible

Principal objective: Preservation of capital and maximisation of the risk-return trade-off with a focus on asymmetric risks

Principal objective: Preservation of capital and maximisation of the risk-return trade-off with a focus on asymmetric risks

Low correlation with bond and equity markets Use of derivatives for investment and hedging purposes Maximum annual volatility of 4%

Low correlation with bond and equity markets Use of derivatives for investment and hedging purposes Max. VaR of 10% at 12 months

Return: EONIA + 200 bp

Return: EONIA + 400 bp

27 February 1995 30 September 1992 ES0114986039

BASIC FUND INFO

ES0138885035

FONENGI SM EQUITY Min. inv.: €500

CAJINRT SM EQUITY Min. inv.: €500 Dividend of 2%

International blended fixed income with an SRI approach, universe defined by well known SRI Indexes

PHILOSOPHY INVESTMENT UNIVERSE

A blend management style and use of best-inclass strategies in extrafinancial criteria Stock selection of companies with discounts, maximisation of the ROIC/WACC spread Maximum of 30% in equities Portfolio of corporate and sovereign FI with a maximum duration of 4 years, minimum A- rating (70% FI portfolio)

OBJECTIVE FEES

DISTRIBUTORS

To outperform the average return within 1 year Inverco Int. Blended FI category

Management: 1.35% Performance: 9%

Pan-European blended equity with an income bias Portfolio with three distinct pillars: High dividend equity (50%), REITs or assets linked to the property sector (20%) and sustainable fixed income (30%) Equity exposure of around 70%

Short-term euro fixed income with an average duration of under 12 months Principal objective: Preservation of capital Active management of the portfolio through curve positioning and management of the risk premium

Flexible fixed income with a global approach Principal objective: Active premium management with a focus on preservation of capital Active management of interest rates and fundamental spreads with an extensive investment universe

70% government debt Minimum rating not less than that of the Kingdom of Spain

Public and private fixed income issues without rating limitations and flexible duration (min. 3 years and max. 12 years)

30% limit on nongovernmental issuers

Max. 30% in non-euro currencies

To outperform the average return within 1 year Inverco Int. Blended Equity category

To outperform the rate of return of T-bills within 3 months

To outperform the average return within 1 year Inverco International FI category

Management: 1.35% Performance: 9%

Management: 0.60%

Portfolio of corporate and sovereign FI with a maximum duration of 4 years, minimum BBBrating (70% FI portfolio)

Caja de Ingenieros. Platform: Inversis

Daily liquidity

Management: 0.90%

Management: 1.35% Performance: 9%

Daily net asset value with cut-off time of 17:30 (subscriptions and redemptions)

Management: 1.35% Performance: 9%

CAJA INGENIEROS GESTION solid Investment Process Equity Funds

MANAGER

BASIC FUND INFO

CI GLOBAL, FI

CI IBERIAN EQUITY, FI

CI BOLSA EURO PLUS, FI

CI BOLSA USA, FI

CI EMERGENTES, FI

Javier Castro

Didac Perez

Javier Castro

Javier Castro

Dídac Pérez

2 June 1999

8 July 2005

8 June 1998

24 September 2004

12 August 2004

ES0114988035

ES0122708037

ES0115443030

ES0115359038

ES0109221038

CAJINME SM EQUITY Min. inv.: €500

CIIBPLU SM EQUITY Min. inv.: €100

CAJINGI SM EQUITY Min. inv.: €6

CIBOUSA SM EQUITY Min. inv.: €500

CIEMERG SM EQUITY Min. inv.: €500

Eurozone equity

International equity

International equity EM

Iberian equity

US equity

Conviction portfolio Conviction portfolio

PHILOSOPHY INVESTMENT UNIVERSE

Investment in medium-sized and large companies with consistent competitive advantages Search for long-term secular trends Stock selection through bottom-up analysis with a long-term approach Maximum 25% exposure to emerging markets

OBJECTIVE FEES

DISTRIBUTORS

Investment in small, medium-sized and large-cap companies with consistent competitive advantages

Investment in companies located in EM or DM that generate their activity primarily in EM

Stock selection through bottom-up analysis A blend management style focused on creating value and maximising the ROIC/WACC spread

Stock selection through bottom-up analysis with a long-term approach

Investment in medium-sized and large-cap companies

Maximum 15% exposure to Latin America

Minimum correlation of 75% with its benchmark index

Stock selection through bottom-up analysis

Flexible management style

A blend management style focused on creating value and maximising the ROIC/WACC spread

High active share, stock selection through bottomup analysis

Investment in medium-sized and large-cap companies

Growth bias, a focus on the creation of value through ROIC

To outperform the MSCI World Index (EUR)

To outperform the Ibex 35 benchmark index

To outperform the DJ Eurostoxx 50 benchmark index

To outperform the S&P 100 index in euros

To outperform the MSCI EM Index (EUR)

Management: 1.35% Performance: 9%

Management: 1.35% Performance: 9%

Management: 1.35% Performance: 9%

Management: 1.35% Performance: 9%

Management: 1.35% Performance: 9%

Caja de Ingenieros. Platform: Inversis

Daily liquidity

Daily net asset value with cut-off time of 17:30 (subscriptions and redemptions)

Range of Funds

Equity Distribution Breakdown by management type

Breakdown by active management fund type

Breakdown by equity fund type

Source: Prepared by the authors. Data valid on 30/06/2016.

Caja Ingenieros Gestiรณn SGIIC SAU registered number in CNMV: 193.

Collective Investment Institutions and advice on Investment Portfolios.

Certification for Management of 13

Table of contents

1. Caja de Ingenieros Gestiรณn: Profile and Basic Information 2. Range of Funds

3. Investment Methodology 4. Evolution of Funds and Ratings 5. Internal Control and Back Office

6. Management Team

Caja Ingenieros Gestiรณn SGIIC SAU registered number in CNMV: 193.

Collective Investment Institutions and advice on Investment Portfolios.

Certification for Management of 14

Investment Methodology

Investment Methodology • Investment based on fundamentals, far removed from market timing.

• Focus on business models and their competitive advantages.

• Portfolio construction based on bottom-up criteria.

• Preparation of our own analysis for each position.

• Different sectoral distribution with regard to the index.

• Relatively unconcentrated weight distribution.

• Low portfolio turnover.

• Our own methodology for selecting funds based on multi-criteria models designed to search for funds that bring consistency and value.

Caja Ingenieros Gestión SGIIC SAU registered number in CNMV: 193.

Collective Investment Institutions and advice on Investment Portfolios.

Certification for Management of 15

Investment Methodology

Investment Methodology: Company Types

Target Investment

VALUE • Attractive fundamental ratios • High security margin • Valuation resistant to highly adverse scenarios

GROWTH

• Stability sales growth • Sustainability profit growth • Consistency in operating margins

RETURN • Generation of value: positive ratio of return to cost of capital • Return ratios above the industry average by business model

Caja Ingenieros Gestión SGIIC SAU registered number in CNMV: 193.

Collective Investment Institutions and advice on Investment Portfolios.

Certification for Management of 16

Investment Methodology

Investment Methodology: Selection Process

Generation of investment idea: • External research • Sectorial issues • Relationship with

companies in portfolio • etc.

Filters:

Valuation:

• Consultation of balance sheet and income statement • Assessment of capacity to generate cash • Cost of capital - returns ratio • Analysis of the company's debt profile • Preliminary valuation

• Analysis of historical balance sheet

Caja Ingenieros Gestión SGIIC SAU registered number in CNMV: 193.

Collective Investment Institutions and advice on Investment Portfolios.

• Analysis of historical P&L statement • Management quality of the company • Rigorous estimates

• Comparison with the rest of the portfolio

Certification for Management of 17

Investment Methodology

Fund and Market Metrics

Current PER

Price / book value

Price / EBITDA*

18.12

1.63

4.66

7.74

1.89

21.05

1.19

10.06

5.69

3.82

16.16

1.74

9.64

9.24

1.37

iShares EURO STOXX 50 (Acc) CI RENTA Bloomberg European 500 CI BOLSA USA

20.81

1.32

9.49

5.14

1.24

17.61

2.58

18.01

14.33

2.93

26.05

1.66

13.12

7.86

4.57

17.55

2.82

11.38

10.84

1.30

iShares S&P 100 (Acc) CI GLOBAL

18.87

2.91

14.11

10.74

0.92

18.56

2.21

11.49

9.31

1.57

iShares MSCI World (Acc) CI EMERGENTES

18.07

2.02

12.12

9.58

1.70

16.97

2.67

24.77

11.70

0.77

iShares MSCI Emerging Markets (Acc)

12.46

1.26

24.62

7.21

3.95

CI IBERIAN EQUITY IBEX 35 CI BOLSA EURO PLUS

Price / cash flow Net debt / EBITDA*

* Data excluding financial securities

*Data valid on 30/06/2015

Caja Ingenieros Gestiรณn SGIIC SAU registered number in CNMV: 193.

Collective Investment Institutions and advice on Investment Portfolios.

Certification for Management of 18

Investment Methodology

More return with less risk 12.00%

10.00%

CI Global

MSCI World Eur

8.00%

CI Bolsa Euro Plus

6.00%

CI Iberian Equity

4.00%

CI Emergentes 2.00%

Euro Stoxx 50

MSCI Emerging Markets 0.00%

Ibex 35 -2.00% 10.00%

15.00%

20.00%

25.00%

30.00%

Source: Prepared by the authors with data from 30.06.2015

Caja Ingenieros Gestiรณn SGIIC SAU registered number in CNMV: 193.

Collective Investment Institutions and advice on Investment Portfolios.

Certification for Management of 19

Table of contents

1. Caja de Ingenieros Gestiรณn: Profile and Basic Information 2. Range of Funds

3. Investment Methodology 4. Evolution of Funds and Ratings 5. Internal Control and Back Office

6. Management Team

Caja Ingenieros Gestiรณn SGIIC SAU registered number in CNMV: 193.

Collective Investment Institutions and advice on Investment Portfolios.

Certification for Management of 20

Evolution of Funds and Ratings

Open End Fund Returns CI EMERGENTES MSCI EM (EUR) CI GLOBAL MSCI WORLD (EUR) CI BOLSA USA S&P 100 (EUR) CI BOLSA EURO PLUS EUROSTOXX50 CI IBERIAN EQUITY IBEX 35 CI RENTA 75% BE500 + 15% IBOXX CORP 3-5Y € + 10% IBOXX EZSOV 3-5Y FONENGIN ISR Inverco medium category (Int. blended FI) CI PREMIER 80% AFI REPO 1D + 20% Iboxx Corp AA 1-3 CI FONDTESORO CORTO PLAZO T-bills 3M CI GESTIÓN ALTERNATIVA Target (EONIA +200) CI GESTIÓN DINÁMICA Target (EONIA +400)

1 year

2 years

3 years

-1,30% -10,58% -3,60% -1,54% 3,63% 5,74% -7,04% -13,47% -12,18% -20,59% 0,81% -5,00% -0,62% -2,29% 1,68% 0,58% -0,29% -0,10% -4,63% 1,77% 2,39% 3,78%

8,84% 1,62% 14,00% 20,45% 30,62% 36,31% 4,22% -8,21% -12,90% -21,71% 5,31% -0,60% 4,27% 0,43% 1,91% 3,70% -0,74% -0,02% -4,30% 3,74% 5,16% 7,74%

13,61% 7,90% 35,44% 39,08% 49,50% 55,55% 28,53% 13,85% 24,07% 10,17% 17,23% 14,73% 10,73% 6,19% 2,55% 3,43% 1,10% 0,49% -6,11% 5,90% 6,32% 11,92%

Source: Prepared by authors and Bloomberg. Data valid on 30/06/2016

Caja Ingenieros Gestión SGIIC SAU registered number in CNMV: 193.

Collective Investment Institutions and advice on Investment Portfolios.

Certification for Management of 21

Evolution of Funds and Ratings

Morningstar Fund Rating Fund

Morningstar category

Overall

3 years

5 years







Caja Ingenieros Iberian Equity FI Acc

Spain Equity

Caja Ingenieros Global FI Acc

Global Large-Cap Blend Equity







Caja Ingenieros Renta FI Acc

Euro Blended Aggressive







Caja Ingenieros Bolsa USA FI Acc

US Large-Cap Blend Equity







Caja Ingenieros Emergentes FI Acc

Emerging Markets Equity







Fonengin ISR FI Acc

Euro Blended Defensive







Caja Ingenieros Bolsa Euro Plus FI Acc

Eurozone Large-Cap Equity







Caja Ingenieros Fondtesoro Corto Plazo FI Acc

Euro Money Market, Stable







Source: Morningstar. Data valid on 31/05/2016

Caja Ingenieros Gestión SGIIC SAU registered number in CNMV: 193.

Collective Investment Institutions and advice on Investment Portfolios.

Certification for Management of 22

Evolution of Funds and Ratings

Pension Plans Returns

1 year

2 years

3 years

CI GLOBAL SUSTAINABILITY, P. P. 25% FTSE4 Good + 26,25% IBOXX EZSOV 3-5Y + 48,75% IBOXX CORP 3-5Y € CI EUROMARKET RV 75, P. P. 75%*BE500+16.25%*IBOXX = CRP TR3-5+8.75%*IBOXX = EZSOV TR 3-5 CI EUROMIX RV 50, P. P. 50%*BE500+ 32.5%*IBOXX = CRP TR3-5+17.5%*IBOXX = EZSOV TR 3-5 CI EUROBOND RF 100, P. P.

-1.99% 1.19% -7.07% -9.63% -4.61% -5.35% 2.35%

3.03% 7.21% 1.18% -2.59% 0.85% -0.20% 2.34%

11.11% 16.17% 13.59% 12.64% 11.04% 12.10% 11.01%

65%*Iboxx Corp 1-3 + 35%*Iboxx Government Debt 1-3 CAJA INGENIEROS MULTIGESTION, P. P. MSCI World EUR CAJA INGENIEROS SKYLINE, P. P. 25%*MSCI WORLD EUR+25%*GPR General Index+25% IBOXX = EZSOV TR 3-5+ 25%*IBOXX = CRP TR3-5

3.21% -6.69% -4.47% -2.36%

4.57% 11.41% 16.87% 6.60%

11.02% 33.75% 34.93% 8.48%

2.70%

13.99%

10.06%

Source: Prepared by authors and Bloomberg. Data valid on 30/06/2015

Caja Ingenieros Gestión SGIIC SAU registered number in CNMV: 193.

Collective Investment Institutions and advice on Investment Portfolios.

Certification for Management of 23

Evolution of Funds and Ratings

Morningstar Pension Plans Rating

Plan

Morningstar category

Overall

3 years

5 years







Caja Ingenieros Multigestión, PP

Global Equity

CI Euromix RV 50, PP

Euro Blended Moderate







CI Euromarket RV 75, PP

Euro Blended Aggressive







PP de los Ingenieros

Euro Blended Defensive







CI Global Sustainability ISR, PP

Euro Blended Defensive







Caja Ingenieros Eurobond RF 100, PP

Euro FI







Source: Morningstar. Data valid on 31/05/2016

Caja Ingenieros Gestión SGIIC SAU registered number in CNMV: 193.

Collective Investment Institutions and advice on Investment Portfolios.

Certification for Management of 24

Evolution of Funds and Ratings

Awards

Caja Ingenieros Mixto, PP received the "2013 Pension Fund Award" in the "Multi-Asset/Moderate" category from the newspaper Expansiรณn and Allfunds Bank.

Caja Ingenieros Gestiรณn received a bronze rating from Citywire in the Iberian Equity category for its risk-adjusted return between June 2008 and June 2015.

Caja Ingenieros Gestiรณn SGIIC SAU registered number in CNMV: 193.

Collective Investment Institutions and advice on Investment Portfolios.

Certification for Management of 25

Table of contents

1. Caja Ingenieros Gestion: Profile and Basic Information 2. Range of Funds

3. Investment Methodology 4. Evolution of Funds and Ratings 5. Internal Control and Back Office

6. Management Team

Caja Ingenieros Gestiรณn SGIIC SAU registered number in CNMV: 193.

Collective Investment Institutions and advice on Investment Portfolios.

Certification for Management of 26

Internal Control and Regulatory Compliance

Risk Management The main objective of the Internal Control and Regulatory Compliance Department of Caja Ingenieros Gestion is to ensure that its management activities comply with the different legal regulations and its established internal limits. It is responsible for validating the valuation process and managent of all funds and adds value to other asset management tasks.

The responsibilities of the Internal Control Department fall under four categories: SGIIC

CIS

Monitoring of Valuations

Monitoring of Investments

Regulatory Compliance

Models and Reporting

Caja Ingenieros Gestiรณn SGIIC SAU registered number in CNMV: 193.

Collective Investment Institutions and advice on Investment Portfolios.

Certification for Management of 27

Back Office

Back Office Department is responsible for obtaining the net asset value (NAV) of the different funds and/or portfolios. We provide value-added solutions by optimising processes and circuits.

To value

To manage

To report

Risk Department

   

Valuation of investment funds Valuation of funds with coupon distribution via the mandatory redemption of shares Valuation of model portfolios Valuation of portfolios with complex financial instruments (swaps, OTC, FI with embedded options, securitisations, etc.)

    

Use of distribution platforms Inversis and Allfunds Cut-off time for subscription and redemption transactions: 17:30 Daily support to sales offices Management of external transfers Daily liquidity

 Daily submission of the NAV and equity of the investment funds to the industry media (Bloomberg, La Vanguardia, Expansión, Lipper Leaders, Morningstar)  Weekly submission of Unitholder Reports  Annual submission of the audited investment fund accounts

Caja Ingenieros Gestión SGIIC SAU registered number in CNMV: 193.

Collective Investment Institutions and advice on Investment Portfolios.

Certification for Management of 28

Table of contents

1. Caja Ingenieros Gestion: Profile and Basic Information 2. Range of Funds

3. Investment Methodology 4. Evolution of Funds and Ratings 5. Internal Control and Back Office

6. Management Team

Caja Ingenieros Gestiรณn SGIIC SAU registered number in CNMV: 193.

Collective Investment Institutions and advice on Investment Portfolios.

Certification for Management of 29

Management Team

Caja Ingenieros Gestion: Management Team

Xavier Fàbregas Martori, Managing Director @ Caja Ingenieros Gestión SGIIC SAU Graduate of Business Administration (Universitat de Barcelona), several postgraduate degrees in financial markets. Member of the Spanish Institute of Financial Analysts, CEFA qualification. Member of ESG investment committee.

Caja Ingenieros Gestión, SGIIC, SAU c/Casp 88 08010 Barcelona, Spain

www.ingenierosFondos.com D: +34 933 126 728 M: +34 656 560 378 E: xavier.fabregas@caja-ingenieros.es

Caja Ingenieros Gestión SGIIC SAU registered number in CNMV: 193.

Collective Investment Institutions and advice on Investment Portfolios.

Certification for Management of 30

Management Team

Caja Ingenieros Gestion: Management Team Dídac Pérez Alonso, Investments Director, Caja de Ingenieros Gestión SGIIC SAU Graduate of Business Administration, Universitat Pompeu Fabra, and Master's in Finance from IDEC. Over eight years of experience managing investment funds. Before he joined Caja de Ingenieros Gestión in October 2011, Dídac worked at BancSabadell Inversión and Mercer Consulting. didac.perez@caja-ingenieros.es

Xosé Garrido Jara Graduate of Business Administration, Universitat de Barcelona, and holder of an international financial analyst qualification from ACIIA. Member of the Spanish Institute of Financial Analysts (IEAF). Over 8 years' experience in financial markets, managing equity within the Caja de Ingenieros Group. xose.garrido@caja-ingenieros.es

Caja Ingenieros Gestión SGIIC SAU registered number in CNMV: 193.

Collective Investment Institutions and advice on Investment Portfolios.

Certification for Management of 31

Management Team

Caja Ingenieros Gestion: Management Team Javier Castro Arriaza Graduate of Mathematics and Postgraduate in Quantitative Techniques for Financial Markets, Universitat Politècnica de Catalunya. He joined the Caja de Ingenieros team at the beginning of 2011. javier.castro@caja-ingenieros.es

Caja Ingenieros GestiĂłn SGIIC SAU registered number in CNMV: 193.

Collective Investment Institutions and advice on Investment Portfolios.

Certification for Management of 32

Management Team

Caja Ingenieros Gestion: Management Team Celia Benedé Miranda Graduate of Mathematics, Universidad de Zaragoza. Postgraduate in Quantitative Techniques for Financial Markets from the UPC. She joined the Caja de Ingenieros team in 2015 after more than 10 years managing funds at BMN Gestión de Activos and Caixa Penedes SGIIC. celia.benede@caja-ingenieros.es

Daniel Carrillo Canales Diploma in Telecommunications Engineering from the UPC. Master's in Business Administration from the Aeronautical Business School at UPC. Master's in Financial Markets (Investment Processes and Financial Management) from Universitat de Barcelona. He joined the Caja de Ingenieros team in 2014. daniel.carrillo@caja-ingenieros.es

Caja Ingenieros Gestión SGIIC SAU registered number in CNMV: 193.

Collective Investment Institutions and advice on Investment Portfolios.

Certification for Management of 33

Disclaimer: CAJA DE INGENIEROS GESTIĂ“N is a company that manages collective investment institutions and is subject to the supervision of the National Securities Exchange Commission (CNMV), in whose registry it is listed under number 193.

This report has been prepared in order to provide investors with general information about securities and financial instruments on the date the report is issued, and is subject to change without notice. The information provided is based on sources believed to be reliable, although CAJA DE INGENIEROS GESTION does not guarantee or accept responsibility for the accuracy of said sources.

The content of the reports in no way constitutes an offer or recommendation for the purchase or sale of any product or financial instrument.

ŠThe reproduction, duplication, distribution and/or sale of all or part of the contents of this document is prohibited, even if the source is cited, except with the prior written consent of CAJA DE INGENIEROS GESTION, SGIIC, SAU. All rights reserved.

34