SCP: = investing Investing in the the future of of Argentina ENERGY TELECOMMUNICATIONS CONSTRUCTION ENTERTAINMENT AGROINDUSTRY TRANSPORT REAL ESTATE

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Bruce Welch
8 years ago
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1 SCP: = investing Investing in the the future of of Argentina ENERGY TELECOMMUNICATIONS CONSTRUCTION ENTERTAINMENT AGROINDUSTRY TRANSPORT REAL ESTATE

2 ENERGY, TELECOMMUNICATIONS, CONSTRUCTION, ENTERTAINMENT, AGROINDUSTRY, TRANSPORT AND REAL ESTATE. We are more than shareholders that invest in the future of Argentina. Market Cap: $4.882 MM (closingof 11/12 = $3,59/acción). Share capital: $1.360 MM. Outstanding shares: $1.190 MM (pending debt-for-equity swap = 170 MM shares).

000 shareholders that invest in the future of Argentina. Market Cap: $4.

3 PRINCIPAL ASSETS

4 Upstream oil & gas. Acquisition of UNITEC Energy. Purchase of assets of Petrobras in Santa Cruz (26 areas), triples its operation in terms of production and reserves of oil and gas. Successful OPEX reduction plans. New field discovery: Morena Sur (oil & gas, est. +20 MM BOE). Participation in gas transportation industry through TGN, TGM and Gas Andes. Oil equivalent reserves: 110 MM BOE Production: From to of dailyboe: EBITDA (estimated for 2015/2016): 2014: U$S 39 MM 2015: U$S 120 MM 2016: U$S 200 MM

gas. Successful OPEX reduction plans. New field discovery: Morena Sur (oil & gas, est. +20 MM BOE).

5 Warehousing and logistics services for the oil industry through the unique flammable dock in metropolitan area of Bs.As. Privileged position in Dock Sud. Storage capacity of 140,000 m3in75tanksconnectedtoitsmaincustomers. One of the three owners of Dock Sud,togetherwithYPFand Shell. Industrial production of lubricants, greases and asphalt for third parties. Revenues YTD Sept. 2015: $1.471 MM +13% vs EBITDA YTD Sept. 2015: $5MM

Storage capacity of 140,000 m3in75tanksconnectedtoitsmaincustomers.

6 Telecommunications services focused on the corporate market segment. Fiber optic network of km., mainly in metropolitan area of Bs.As. Important asset for convergence scenario: IP telephony + cable TV + Netflix + video surveillance = increased demand for fiber optic. Revenues YTD Sept. 2015: $238 MM +36% vs EBITDA YTD Sept. 2015: $71 MM

Important asset for convergence scenario: IP telephony + cable TV + Netflix + video

7 55% SCP recently acquired 5 companies in the industry of construction materials: Canteras Cerro Negro, Ladrillos Olavarria, Cormela, Superglassand Arcillas Mediterráneas. Production of bricks, extruded and pressed floors, tiles, porcelain tiles HD, glazed tiles and glass. Cerro Negro is the third producer of Ceramics in Argentina. All together, this companies represent the biggest conglomerate in the industry. Construction is aimed to grow in both scenarios of high or low inflation (as inflation protection or with the resurgence of credit). Estimated revenue of the companies in 2015: $1.500 MM EBITDA (estimated): 2015: $ 80 MM 2017: $ 250 MM

Cerro Negro is the third producer of Ceramics in Argentina. All together, this companies represent the biggest conglomerate in the industry.

8 Safe entertainment for the whole family: PDC, Aquafan, Niní Marshall Theatre, Tigre Center, Chinatown Tigre. Aquafan increased by visitors and $ 40 MM the revenue of PDC. Potential development in other areas of the country. Chinatown: 70 tenants, visitors first weekend.. 1 MILLION Visitors per year Revenues YTD Sept. 2015: $168 MM +41% vs EBITDA YTD Sept. 2015: $37 MM

Potential development in other areas of the country. Chinatown: 70 tenants, 65.

9 Rail freight transport of crops from the pampa húmeda to the ports of Bahía Blanca and Rosario- San Martín. Transport of 4 million tons of grain per year. Positive new railway law: concept of open access. Necessary to regenerate the competitiveness of business sector. Revenues FY jun. 2015: $682 MM +38% vs EBITDA FY jun. 2015: $85 MM

Positive new railway law: concept of open access.

10 50% High value added industrial products from nontraditional crops, based on R&D. Biofuel industries. Omegas 3, 6 and 9 for the food, pharmaceutical and animal nutrition industries. Experimental stage with prospects of launching commercial operations in the short term. Anualrevenues of the Omega 3 industry in the world: U$S MM

Omegas 3, 6 and 9 for the food, pharmaceutical and animal nutrition industries.

11 500hectaresinthefirstsectionofDeltaislandsinTigre (Buenos Aires) for a potential real estate development. Project connection to the mainland Earnings: $1,5 MM Consolidated assets: $31,2 MM Net Equity: $28,1 MM

development. Project connection to the mainland.

12 RESULTS 2014 Profit: $262,5 MM(+128% vs. 2013). Consolidated revenues: $1.387 MM(+63% vs. 2013). Consolidated assets: $1.530 MM. Consolidated liabilities: $461 MM. Equity: $1.069 MM.

13 EVOLUTION OF CONSOLIDATED REVENUES(IN MILLIONS OF ARS PESOS)

14 CONTRIBUTION BY SECTOR TO THE GROSS MARGIN OF SCP(SEPT. 2015)* Entertainment 33% Energy 25% Telecommunications 42% *OnlyassetsthatconsolidateonSCP balance sheet(+50%) considered.

15 RESULTS 3T2015 Profit:$200,6MM(+67%vs.2014). Consolidated revenues: $1.221 MM(+27% vs. 2014). Consolidated assets: $2.009 MM. Consolidated liabilities: $766 MM. Equity: $1.243 MM.

16 PROSPECTS

17 STRATEGIC VISION: FOCUS ON THE SHAREHOLDER If the conglomerate form is used judiciously, it is an ideal structure for maximizing long-term capital growth, W. Buffet. IMPROVING NET ASSET VALUE COST CONTROL BALANCE TRADABLE SECTOR / DOMESTIC MARKET ALLOCATION OF CAPITAL + VALUE FOR SHAREHOLDERS - Increased participation in CGC (30%) and purchase of PESA assets in Santa Cruz. - RECENT ACQUISITIONS: - Metrotel - Omega Grains - Cerro Negro, LOSA, Superglass, Cormela and Arcillas Mediterráneas. - Administration costs of the Holding represent 0,66% of SCP assets (3T2015). Less than target set at 1%. - NO stock options, NO management fee, NO corporate cars, etc. - Balance between both sectors of the economy. - Possible devaluation: 67% of gross margin 3T2015 come from sectors that are dollar linked. - Control of operations. - Cumulative losses = $100 MM. - Medium term: predictable dividends policy + reinvestments. - Results: predictability / growth. - Multiples. - BCBA: share buyback. - SIX Swiss. - Liquidity international markets.

Santa Cruz. - RECENT ACQUISITIONS: - Metrotel - Omega Grains - Cerro Negro, LOSA, Superglass, Cormela and Arcillas Mediterráneas.

Quarterly Report. Grupo Clarín announces its Results for the Nine Months (9M15) and Third Quarter of 2015 (3Q15)

Quarterly Report. Grupo Clarín announces its Results for the Nine Months (9M15) and Third Quarter of 2015 (3Q15) Quarterly Report GCLA: Ps.117.0 / share (BCBA) GCLA: USD 16.0 / GDS (LSE) Total Shares: 287,418,584 Total GDSs: 143,709,292 Market Value: USD 2,299.3 MM Closing Price: November 10th, Grupo Clarín announces