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WHERE WE ARE GOING<br />

AND WHY?<br />

International<br />

Expansion<br />

The main strategic priority<br />

Dilution of country risk<br />

New growth avenues<br />

Diversifying<br />

investment<br />

style<br />

Adopt the most appropriate<br />

investment style<br />

Wholly owned businesses<br />

Majority stakes<br />

Partnerships<br />

Minorityit stakes<br />

Leverage<br />

the exceptional<br />

asset base<br />

in Portugal<br />

Innovate<br />

Generate new businesses<br />

Strengthen our competitive<br />

position<br />

6

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