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Agreement with IMGA signed

On May 22, Gremi International SARL signed a contract with the Portuguese company IM Gestãode Ativos – Sociedade Gestora de Organismos de Investimento Coletivo, SA, (IMGA). Under thisagreement Gremi in cooperation with IMGA will create a private equity fund under the nameAlmond Tree Private Equity Fund – FCR, which will invest in hospitality real estate projects.

IMGA is one of the pioneers in the management of Portuguese investment funds (registrationIMGA is one of the pioneers in the management of Portuguese investment funds (registrationnumber 184 in the CMVM). The Company started its activity in 1989.It is currently the 3rd largest fund management company in Portugal with around €2,3 Billionunder management in 29 funds and management capabilities across a variety of asset classesand regions.