Press release

Befesa Holding S.à.r.l.
Société à responsabilité limitée
Share capital: EUR 12,500.03
Registered office:
2C rue Albert Borschette,
L-1246 Luxembourg,
Grand Duchy of Luxembourg
R.C.S. Luxembourg: B143916

Bilbao (Luxembourg) S.A.
Société anonyme
Registered office:
2C rue Albert Borschette,
L-1246 Luxembourg,
Grand Duchy of Luxembourg
R.C.S. Luxembourg: B178436

EUR 150 million 10.50%/11.25% PIK Toggle Notes due 2018 (the "Notes") issued by Bilbao (Luxembourg) S.A., admitted to trading at the Euro MTF market of the Luxembourg Stock Exchange and listed on the Official List of the Luxemburg Stock Exchange

ISIN (XS0983933580 - XS0983942656)

We would like to announce that, due to an administrative change, Michiel Kramer has resigned as manager of Befesa Holding S.à.r.l. with effect as of 12 May 2016. The shareholder meeting of Befesa Holding S.à.r.l. has therefore appointed John Sutherland as new manager with effect as from 12 May 2016.

We would also like to announce that, due to an administrative change, Michiel Kramer and Dr Thomas Sonnenberg have resigned as managers of Bilbao Luxembourg S.A. with effect as of 12 May 2016. The shareholder meeting of Bilbao (Luxembourg) S.A. has therefore appointed John Sutherland and Andreas Neugebauer as new managers with effect as from 12 May 2016.

Luxembourg, 12 May 2016

Contact:
Befesa Holding S.à.r.l. / Bilbao (Luxembourg) S.A.
Antonios Tzanetis
2C Rue Albert Borschette
L-1246 Luxembourg
Tel.: 00352 26 753 111
Fax: 00352 26 753 100
e-mail: tzanetis@triton-partners.com