Corporate Governance Policies

The Taylor Group has voluntarily implemented a set of Corporate Governance Policies:

• The Board is composed of six members, three of whom are associated to the controlling interest and three that are independent.

• The Board meets every month, according to a calendar defined by the Directors and eventually extraordinary Board meetings are held when summoned by the President or the absolute majority its members.

• The objective of the Board is to determine the policies and strategic plans that allow sustainable value creation and growth and to assign the adequate resources for the administration to implement these plans.

• The position of Director is incompatible with that of an Executive of the Company.

• There is an Audit Committee formed by the independent Directors. The Committee’s function is to examine the financial statements, issued by management and by the external auditors, monthly, quarterly and annually.