Our Company is a wholly owned subsidiary of the Saras Group established in 2016 in Geneva (Switzerland). We act on behalf of Saras for all commercial activities related to the purchase of crude oil, biofuels and all other feedstocks to be used as inputs of the Group’s refinery, as well as for the sale of refined oil products obtained as outputs of the Group’s refinery. Chartering of oil tankers for the transport of crude and refined oil products is also among the activities we carry out on behalf of Saras. Moreover, we also engage in third-party trading activities, both of crude oil and refined oil products, as part of our ordinary business activities. On average, Saras Trading purchases roughly 100 million barrels per year of crude oil, sourced from a wide range of suppliers, across more than 30 countries around the world. Such volume of crude oil is shipped by sea from its port of origin to the Sarroch refinery, with more than 150 crude oil tankers every year. Approximately 30% of those tankers are chartered directly by our chartering team. A similar volume of refined oil products is marketed to national and international clients, with the chartering of a significantly higher number of oil products tankers, on a wide variety of customers, qualities, and cargo lots. Those activities include the supply with clean products of our Group’s logistic network in Italy and Spain from where sales by truck in the wholesale market are performed, as well as bunkering activities in the port of Sarroch and other Mediterranean hubs. Overall, Saras Trading has a well-established reputation in the oil markets, thanks to its world class oil supply chain knowledge and the excellent relationships built by the Saras Group over several decades with all the main industry players.