Altri SGPS is a holding company based in Portugal. Co. is engaged in management of investments mainly in the industrial sector. Through its subsidiary companies, Co. is engaged in the production of pulp and paper through the Celbi, Celtejo and Caima Groups. Pulp is the core business of Co. and the focus is on bleached eucalyptus pulp. Co.'s three pulp mills, Celbi, Caima and Celtejo, produce over 550,000 tonnes per year. The paper mill, CPK, produces 60,000 tonnes of sack kraft paper per year. Co. manages over 78,000 ha of forest in Portugal certified by the Forest Stweardship Council.

Atresmedia Corporacion De Medios De Comunicacion is a television and radio broadcasting company based in Spain. Co. is engaged in the indirect management of television and radio services, which include the broadcasting, creation, production and distribution of television and radio programming, and the sale of advertising time. Group companies mainly carry on business activities relating to the production, copying and broadcasting of sounds and images, and TV and Internet home shopping. Co. provides National and World Digital Television Services. Co. is the parent company of Grupo Antena 3.

Cellnex Telecom SA is a Spain-based company engaged in the wireless telecommunications (telecom) business. Its activities are divided into three segments: Broadcasting infrastructure, Telecom site rental, as well as Network services and other. The Broadcasting infrastructure division comprises distribution and transmission of television (TV) and frequency modulation (FM) radio signals, operation and maintenance (O&M) of radio broadcasting network, as well as over-the-top (OTT) radio services, among others. The Telecom site rental division provides access to wireless infrastructure, primarily through infrastructure hosting and telecom equipment co-location, mainly for mobile network operators and other wireless and broadband telecom network operators. The Network services and other division offers connectivity services for a variety of telecom operators and radio communication, among others. The Company also develops 5th generation mobile networks (5G) through Alticom BV.

Compania de Distribucion Integral Logista Holdings, through its subsidiaries, is a distributor and logistics operator in Spain, Portugal, France, Italy and Poland. Co. is engaged in providing various distribution channels with a range of products and services, including tobacco and tobacco related products, convenience goods, electronic documents and products (such as mobile phone and travel card top-ups), pharmaceutical products, books, publications and lottery tickets. Co. provides these services through a network which spans the whole value chain, from picking up to POS delivery.

Corticeira Amorim, S.G.P.S. is a holding company. Through its subsidiaries, Co. is engaged in the production, sale and distribution of cork products, including natural and agglomerated cork stoppers for the wine industry; cork stoppers and other components for the sparkling wines, spirits and champagne industry; cork plank and other products resulting from the processing of cork and used in other segments of the cork industry; floor and wall coverings; composition and granulated corks with several technical and industrial applications; cork with rubber; and expanded pure agglomerated and regranulated corks for technical, acoustic and vibration insulation.

CTT Correios de Portugas, S.A. operates through the following companies: CTT Expresso, Postal services and Logistics, which specializes in courier services, urgent mail and merchandise; Mailtec, which addresses the needs of management of written communication between suppliers and customers ensuring the production of physical and hybrid mail and the electronic management of documents; Payshop, which enables the payment of several services and utilities through a national network of more than 4,000 agents; PostContacto Advertising Mail, which provides services related to the distribution of advertising mail; and Tourline Express, which focuses on courier service and urgent mail transport.

Ebro Puleva is a food manufacturing group based in Spain. Co. is engaged in the manufacture and marketing, export and import of sugar, rice, dairy products, and products destined for agriculture development and human and animal consumption. Co.'s brand names include: Panzani®, Ronzoni®, American Beauty®, Skinner®, Lancia®, Catelli®, Healthy Harvest®, etc. in pastas and sauces, Mahatma®, Sucess®, Carolina®, Lustucru®, Taureau Aile®, Oryza®, Bosto®, Reis-Fit®, Riceland®, Danrice®, Risella®, Brillante®, Nomen®, La Cigala® and La Fallera® in the rice sector, Puleva®, Ram® and El Castillo® in the dairy sector, and Azucarera® and Sucran® in the sugar sector.

Ence Energia Y Celulosa is engaged in the manufacture and commercialization of wood pulp and derivatives. Co. divides its activities into the following two business lines: Forest Division: Co. manages timberlands in South America and the Iberian Peninsula. Co. is involved in trading of wood, and supplies solid wood products including: plywood, sawn timber, parquet flooring and glued-edge paneling. Co. is involved in forest and environmental consulting. Pulp Division and Energy Production: Co. is engaged in the production of Eucalyptus globulus-based TCF and ECF paper pulp. Co. is also involved in the generation of electricity through biomass power producing plants.

Euskaltel SA is a Spain-based company engaged in the provision of integrated telecommunication services. The Company's activities are divided into three segments: Residential, Business, as well as Wholesale and Other. The Residential segment provides fixed and mobile telecommunication services, broadband and wireless Internet, as well as digital television (TV) as a single service and in packages. The Business division primarily offers fixed and mobile telephony, as well as Internet access for enterprises. The Wholesale and Other area serves wholesale customers and is responsible for the delivery of communication services, such as infrastructure leasing, information technology (IT) outsourcing, as well as sell of installation material and electronics. The Company operates in the Basque Country, Spain.

Ibersol SGPS SA. Ibersol SGPS SA is a Portugal-based company primarily engaged in the operation of restaurants. It is active in Portugal and Spain. The Company divides its activities into six business areas: Restaurants and Delivery; Counters; Travel; Coffee Kiosks; Catering, and Concessions. In the Restaurants and Delivery area, it is involved in the operation of restaurant chains under brand names of Pizza Hut, Pasta Caffe and Pizza Movil. In the Counters area, it operates restaurant chains under banners KFC, O Kilo, Burger King and Pans, as well as The Eat-Out Group brand names. The Travel business sector includes the provision of foodservices on highways and airports. The Coffee Kiosks sector consists of coffee retailers under the brand name Delta. In the Catering sector, it is active in the preparation of meals. The Concessions sector includes the management of concessions for provision of foodservices in number of spots in Portugal, such as Serralves Museum and Casa da Musica, among others.

Indra Sistemas is engaged in the design, development, manufacture, assembly, repair, and installation of computer software and applications. Through its subsidiaries, Co. is engaged in consulting, graphic design and multimedia, web design and marketing, internet development and electronic trade, systems integration and hosting geared business to business and business to consumer, as well as in internet financing and electronic marketing. Co. serves defense and security, transport and traffic, energy and industry, telecom and media, finance and insurance, and public administration and healthcare markets. Co. operates primarily in Europe, the United States, Canada, and Latin America.

Masmovil Ibercom SA, formerly World Wide Web Ibercom SA, is a Spain-based company primarily engaged in the telecommunication sector. The Company focuses on the sale and distribution services for Internet, Data Center and Telecommunications. The Company's product and services portfolio comprises Internet access through Asymmetric Digital Subscriber Line (ADSL) and Symmetric Digital Subscriber Line (SDSL) technologies, Internet domains and Domains Management and Registration Service through IberDNS application, Web hosting, virtual servers, dedicated servers, telephony services and routers. The Company also offers collocation services through two Internet Data Centers located in Madrid and San Sebastian. It operates through subsidiaries, such as Embou Nuevas Tecnologias SL and Ebesis Sistemas SL, among others. The Company owns a number of brand names, such as Pepephone, Yoigo and Llamaya.

Gestevision Telecinco is a television network company based in Spain. Co. heads a group of dependent companies, which form the Telecinco Group. Through its subsidiaries, Co. is engaged in the management and commercial exploitation of a television network. Co.'s television network acquires, produces, and distributes audiovisual content. Co. also sells the network advertising airtime, carried out by its subsidiary. In addition, Co. is involved in the sale of other advertising products; production of news programs; the production and sale of audiovisual property rights; and teleshopping.

Mota-Engil SGPS is a holding company. Through its subsidiaries, Co. is engaged in construction, restoration and public work projects in Portugal, Ghana, Germany, Mozambique, Tunisia, Chile, Peru, Angola and Cape Verde. Construction projects undertaken include residential buildings, apartment buildings, commercial buildings, office buildings, factories and other industrial facilities, warehouses, laboratories, hospitals, schools, water reservoirs, subway stations, television transmission towers, highways, bridges and railway trestles. Co.'s subsidiaries are also engaged in the sale of cement.

Navigator and its subsidiaries are engaged in the production and sale of cellulose pulp and related products, the purchase of wood and agricultural and forest production, the harvesting of forests and the transport of wood from the forests to the plants, and the production and sale of electricity and thermal energy. Co. is also involved in the production of paper and derivative paper products.

Nos SGPS is a holding company which is based in Portugal. Through its subsidiaries, Co. operates as a provider of telecommunications and media services. Co.'s subsidiaries main activities are data transmission, cable and satellite television, and internet services.

Semapa - Sociedade de Investimento e Gestao SGPS is an industrial group based in Portugal. Co.'s main activities are the production of cement and the production and sale of ready mixed concrete and clay, and the operation of quarries. Co.'s operations are organized along three industrial areas: Paper and Pulp (producer of bleached eucalyptus kraft pulp), through its holding in the Portucel Group; Concrets and Aggregates (a manufacturer of cement and its derivatives), through holdings in the Secil Group; and Environment (waste management involved in the collection, storage and treatment of animal by-products), through its holding in the ETSA Group.

Sonae.com is a media and telecommunications group based in Portugal. Co. offers a range of mobile and wired communications services to residential and corporate customers in Portugal, including voice, data, television (TV) and roaming services, as well as wholesale services to third parties. Co.'s operations are organized along two main business units: Optimus, which is an integrated telecommunications operator, and the unit of Software and Systems Information Services (SSI). Additionally, Co. is active in the Online & Media sector, which includes the daily newspaper Publico and the online auction Website Miau.pt.

Tecnicas Reunidas is a general contractor company based in Spain. Co. engages in the engineering, design, and construction of industrial facilities for refining and petrochemical, oil and gas, power, and infrastructure and industries sectors worldwide. Co. constructs nuclear plants, conventional thermal plants, and renewable energy and cogeneration facilities for power sector; refineries and facilities for petrochemicals; water treatment, desalination, waste management, air, land, and marine transport facilities; and liquefaction, and storage facilities, as well as oil and gas fields and pipelines. Co. also provides engineering, management and operating services for industrial plants.

Telefonica is engaged in the provision of public or private telecommunications services, including ancillary or complementary telecommunications services or related services. Co.'s fixed business includes: traditional fixed telecommunication services, Internet and broadband multimedia services, data and business-aplications services, and wholesale services for telecommunication operators. Co. also provides a range of mobile and related services and products to consumer and business customers, including mobile voice services, value added services, mobile data and Internet services, wholesale services, corporate services, roaming, fixed wireless, and, trunking and paging.

Vidrala SA is a Spain-based company principally engaged in the glass industry. The Company operates through two segments: Spain and European Union. The Company's activities include the production, distribution and sale of glass bottles and containers used in the food and beverages industries. The Company conducts its own research and development (R&D) operations. It operates production plants and melting furnaces located in such countries, as Portugal, France, Belgium and Italy. The Company owns such subsidiaries as Crisnova Vidrio SA, Inverbeira Sociedad de Promocion de Empresas SA, Gallo Vidro SA, Castellar Vidrio SA, Corsico Vetro SRL, MD Verre SA, Omega Immobiliere et Financiere SA, Investverre SA and CD Verre SA.

Viscofan is the parent company of the Viscofan Group. Co. is divided into two major operational subgroups. The companies comprising the Naturin GmbH subgroup are engaged in the manufacture and distribution of artificial casings (small and big diameter collagen and plastics) for the meat industry. Through its wholly-owned subsidiary IAN, S.A., Co. also manufactures and distributes canned vegetables (asparagus, olives and tomato).