Stramongate S.A.

The Stramongate Group was formed in 1996 to invest the proceeds of the sale of Provincial Insurance, the majority of which was owned by shareholders who are the descendants of the founder James Scott.

Following a reorganisation under a scheme of arrangement that was approved by the UK Court, Stramongate S.A. (“the Company”) became the ultimate holding company of the Stramongate Group.

The Company, which is a Luxembourg public company limited by shares (société anonyme) qualifying as an investment company with fixed share capital established as a specialised investment fund (société d’investissement à capital fixe – fonds d’investissement spécialisé), was incorporated on 17 May 2011 under the Company Law and the SIF Law.

The company is regulated by the Commission de Surveillance du Secteur Financier ("CSSF").

The Company’s shares were admitted to The International Stock Exchange ("TISE") on 2 December 2011.

The business of the Company is managed by the Board consisting of six non-executive directors, who are responsible for setting the investment policies and strategies and the payment of dividends to shareholders.

To assist in the day-to-day operations of the Company the Board has appointed and delegated authority for certain functions to the Investment Manager and other third party providers such as the Administrator.