PENSION PLAN. Saint Louis University in Spain, S.A. Madrid, April 2014 Madrid, Mayo Brosacor, correduría de Seguros, S.L.U.

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1 PENSION PLAN Saint Louis University in Spain, S.A.

2 Who is eligible for this benefit? All employees of Saint Louis University in Spain, S.A. with at least 2 years of employment and a pension plan contribution of at least 1% of salary.

3 TYPE OF PLAN PPA (Plan de previsión asegurado) The percentage contribution of the company in favor of the employees will be added to the employee s salary in the format of a bonus. Current limits on pension plans are: < 50 years old, 10,000 per year. > 50 years old, 12,500 per year. Extra contributions may be made and may be transferred from other plans. Contributions may be stopped, completely or partially, at any time. Currently, the accumulated capital may be redeemed in the cases of retirement, long-duration unemployment or serious illness. Laws enforced at the time of redemption will apply.

4 PRODUCT AEGON PPA Evolución The interest they are applying is guaranteed at 2.25% for the total life of the plan. In addition, these plans also have a participation in profits that today is yielding 3.25%. PPA EVOLUTION provides a bonus on the % invested. This is a loyalty award. The % of this bonus will be calculated based on the number of years to retirement (with a minimum contribution time of at least 5 years on the plan). The bonus cannot be redeemed until full payment is received.. DURATION YEARS 5-9 2% % % % % % BONUS

5 PROFITABILITY OF THE PLAN Pension plan contributions have fiscal repercussions since they can be deducted from personal income tax. Maximum amounts are 10,000 or 30% of net income from work-related or economic activities (12,500 or 50% for those 50 years or more). Here are examples of tax savings: BASE FROM BASE TO IRPF % PENSION PLAN CONTIBUTION FISCAL SAVINGS 0 17, % 1, , , % 1, , , % 1,

6 CONTRIBUTIONS AND PAYMENTS The company contributions to the pension plans will be made via the employees pay, increasing the pay amount ( bonus ) according to that agreed between the employee and the company. Contributions will be made in the months of May and/or November each year. Employees must request these contributions before the 15th of these months. An internal document, stating the annual contribution through employee pay, will be signed. The following company contribution limits apply: Employee Contribution (% of salary) Company Contribution 1% 1% 2% 2% 3% or more 3% *Minimum annual contribution is 300 (150 employee SLU) Employees may make extra contributions from their own personal accounts as well.

7 AEGON AEGON is sound and world-reknown. They have a team of over 25,000 professionals all over the world. Originating in Holland with over 150 years experience, in Spain since 1980.

8 BROSACOR By law: Brosacor, Correduría de Seguros, S.L.U. does not participate, directly or indirectly, in over 10% of the share capital or voting rights of any insurance company. Likewise, no insurance company participates, directly or indirectly, in the share capital of the broker. Has CUSTOMER SERVICE to attend to complaints and claims. Is registered with CIF B in the special registry Dirección General de Seguros y Fondos de Pensiones with the code J-1972 and covered by a Civil Responsibility policy according to the law 26/2006 de 17 de Julio for 1,500,000 per year and a maximum of 1,000,000 per claim. Likewise, and in compliance with art. 27 y disposición 3ª de la ley 26/2006 de Mediación de Seguros y Reaseguros Privados, their financial capability is accredited by an insurance policy. Madrid, Marzo 2014

9 For more information, contact: Pilar Rodríguez Director of Human Resources Saint Louis University in Spain, S.A. Telephone: Ext. 211 O Brosacor, Correduría de Seguros, S.L.U. Telephone: Fax: Madrid, Abril 2014