Dear Stakeholders,

1. The deep recession that the Portuguese economy has been confronted in recent years had serious consequences in several activity sectors, with particular emphasis on the construction and public works.

2. MRG Group, having in its DNA the change factor as mobilizing elements to adapt to new realities and outline a future strategy consistent with the macroeconomic environment expected, has been implementing a comprehensive restructuring by providing it with different companies indexed to sectoral business.

3. The legal-judicial framework of MRG Group was conceived and implemented in 2009 in the light of then defined business strategy.

4. The diagram of companies and shareholdings of MRG Group showed up, however, to be missed placed to ensure the fulfillment of the strategic objectives, as the market deeply transformed, and in particular the volume level of procurements, the type and size of works and operational, economic and financial risk.

5. Due to its importance in terms of "core business", "MRG – Engenharia e Construção, SA" and "EQUIPAV – Engenharia e Construção, SA", both aimed for engineering, construction and public works, stood out in the MRG Group but with different positions.

6. After the market suffered several transformations, clearly showing a diminishing works, with effective predominance of lower value (below EUR 5 million), there was therefore no reason for the existence of two companies to compete in the same Group.

7. To that extent, "EQUIPAV - Engenharia e Construção, SA” was found to be better positioned to respond to market realities in the field of civil construction and public works so, accordingly, from August 1st, 2013 the company began to ensure all construction and public works business.

8. Accordingly, the Official Designation changed from "MRG - EQUIPAV, Engenharia e Construção, SA", remaining until mid-June 2015.

9. The Group's policy is for the standardization of names and graphic images of different companies, with only the distinction of the business areas of each.

10. Thus, yesterday was made a definitive designation change from "MRG - EQUIPAV, Engenharia e Construção, SA" to "MRG - Construction, SA”, keeping unchanged all the other data of the company, including the license and tax identification number.

Thank you.