Company Navarino S.A.

Navarino SA is a Chile-based company primarily engaged, through its 50.58%-owned subsidiary Marinsa SA, in the maritime transport and brokerage and port services. In addition, the Company held minor stakes in such other sectors as steel, telecommunications and packaging, mainly through such entities as Consorcio Naviero Peruano SA, Vogt & Maguire Shipbroking Ltd, Globe II Holding Schiaffahrts & Co KG, Dry Bulk Handy Holding Inc, Aerosan Airport Services SA, Antofagasta terminal Internacional SA, Cargo Park SA, Empresa de Servicios Maritimos Hualpen Ltda, Inmobiliaria Carriel Ltda, Portuaria Corral SA, LNG Tugs Chile SA and Terminal Puerto Arica SA, among others. As of December 31, 2011, Quemchi SA was the Company’s majority shareholder with 79.56% stake in its interest.