Ledesma Sociedad Anónima Agrícola Industrial Stock

Ledesma SAAI is an Argentina-based company engaged in the agro-industrial sector. The Company’s main activities are structured in four business areas: Sugar, Syrups and Alcohol, which includes the cultivation and processing of sugar cane, as well as the production of sugar cane derivates, corn starch and other corn derivates and sub-products; Paper, which focuses on the manufacture, distribution and sale of a variety papers products; Fruits and Juices, which comprises over 2,000 hectares of orange, mandarin, grapefruit, lemon, mango and avocado plantations, and Agriculture and Livestock, which is carried out through its subsidiary La Biznaga SAACIF. As of May 31, 2012, Ledesma owned such other subsidiaries as Calilegua SA, Castinver SA, Bio Ledesma SA and Glucovil Argentina SA, among others.