Company Imotrust SA Bucharest S.E.

Imotrust SA is a Romania-based company primarily engaged in real estate development. The Company organizes its business into three main segments: Residential; Commercial & Office, and Industrial & Logistic. The Company’s portfolio includes single-family housing, multifamily residential housing, office buildings, shopping centers, logistic centers and industrial buildings, among others. As of December 31, 2011, the Company and its subsidiaries were involved in real estate projects in Romania, in counties of Arad, Cluj, Bacau and Brasov. As of December 31, 2011, Imotrust SA had seven subsidiaries, including Parc Industrial Combinat SRL, Codlea Arctic International SRL, SSI Ramses SA, Inkotown, RND Auto SA, Trustul CRE SA and Arcvia Industrial.