We are the trusted advisor to business owners.

Invermaster is the result of a joint venture between Invermaster LLC from U.S.A. with prominent Central Americanentrepreneurs with long experience and recognition.

We are a regional investment banking, private equity, strategic consulting and corporate finance firm with offices in

Costa Rica, Guatemala and Miami. For our clients, we buy and sell companies, raise capital, negotiate debt and adviseon major strategic issues of their businesses.

We have developed projects all across the Central American region, Mexico and Colombia.

Invermaster emerges as a different response to the classic business advisory:

The Pile of Money:

Substantial and tangible economic value, now and in the future, for business owners…

Put your money where your mouth is:

We take reputational risk in our recommendations, by taking charge of some tasks, encouraging action and supportingour customers, wherever possible, with our own capital.

We are the facilitator that allows our clients to achieve their business goals.

From the beginning, we have been identified as one of the leading and more exclusive sources of expert knowledgeand experience for the development of high impact business strategies.

We are committed to create superior economic value for our clients, through people excellence, insightful businessanalysis, and revolutionary and innovative strategies.

Our firm is recognized for it´s practical approach in solving the most complex business problems that nowadaysbusiness owners, managers and shareholders face.

We create wealth for our investors through the analysis and selection of high-profit projects, optimizing returnsthrough co-management of the businesses where we invest and bringing together the most qualified experts toperform based on best demonstrated practices.

Source of continually updated opportunities

Prioritization of investments based on profitability and

risk

Best practices in Corporate Governance with partners

Participation in primary management entities

Legal and fiscal structuring

Active administration of operations

Financial structure optimization

Operative decision-making under the P.O.M. focus

Responsibility and delivery of clear accounts

Permanent management reports

Restructuring and Crisis Management

Our goal is to maximize the sale value of our client's business facing a decision to sell or acquire another business in aneffective and efficient approach that will add more value to our customers.

Sale Strategy and Business Target Screening

Business Valuation

Road Show

Transactions Negotiation

Strategic Due Diligence

Transaction Financing

Transaction Closing

Post-Transaction Integration Strategy

Strategic Auditing

We execute the sale or purchase of all or part of a business. From the start of the negotiations until the receipt of thesecurities. Including the execution and implementation of the following activities:

Valuing the company and defining the

strategy“valuer” Negotiate

the price and terms of the transaction

“buffer”

Interact with banks and partners to finance the transaction“financier”

Ensure the quick and efficient

closing of the transaction

“doer”

Contact potential applicants“buyer or

seller” Coordinate the Due Dilligence

process and the advisors of the

Buyer Side“leader”

Plan the Integration

process“planner”

We support our clients with strategic advice and assistance in the implementation of high impact decisions. We do notdevelop reports that will then be archived, but rather support our clients to execute key strategic decisions for theircompanies.

Business Portfolio Analysis and Optimization

Market and Industry Mapping

Business Unit Strategy

Best Demonstrated Practices Analysis (“BDP”)

Chief Strategy Management Office

Expansion and Growth Strategies

Loyalty Programs

We create shareholder value through better management of the finances of the company, from the structure to theplacement of securities, the signing of documents and receipt of funds. We differentiate ourselves from the brokersbecause we execute the implementation of the proposed financial strategy.

Financial Modeling

Financing Structuring

Financing Road Show and Booking

Transaction Negotiation

Transaction Closing

Debt Restructuring and Crisis Management

Some key projects that have shaped the group's executive experience in developing Strategies and Sales, Mergers andAcquisitions in the past 20 years in the region are:

La Fragua (Guatemala)

Banco Agrícola Comercial (El Salvador)

Banco Continental (Panamá)

Grupo Taca (Centroamérica)

Ford (Brasil y Argentina)

FEMSA (México y Argentina)

CSU / Mas x Menos (Costa Rica)

Amanco (Centroamérica)

American Express (Brasil y México)

Grupo Agrisal (El Salvador)

Motorola (Latinoamérica)

Coca Cola (Embotelladores de C.A.)

Heinz (USA)

Grupo Cobán (Guatemala)

Grupo de Sola (El Salvador)

geographies industry sectors projects examples

Central America: Panama, Costa Rica, Nicaragua, El Salvador, Honduras, Guatemala

Mexico: Mexico DF, Guadalajara, Monterrey, Puebla

Argentina: Buenos Aires, Cordoba, Santiago del Estero

Brazil: Sao Paulo, Rio de Janeiro

Colombia: Bogota, Cali y Medellin

Venezuela: Caracas

Ecuador: Guayaquil

USA: Miami, Dallas, Houston, San Antonio, New York

Peru: Lima

Chile: Santiago

Uruguay: Montevideo, Punta del Este

Paraguay: Asuncion

Beverages: Alcohol, Beer, Soft Drinks, Juices, Water

Transformation: Construction Materials, Flexible Packaging, General Packaging, Candles, Sugar, Consumer Goods

Technology and Telecommunications: Cellular, Fix, Cable TV, Cell Phones Manufacturer, E-commerce, ISP

Services: Global Advertising Agency, Car Dealer

Financial Services: Banks, Credit Agencies , Insurance, Credit Cards

Retailers: Supermarkets, Limited Service, Supermarkets, Convenience Stores, Department Stores, Hypermarkets, Consumer Goods, Wholesalers

Airlines: Operations, Maintenance, Customer Service

Post-Transaction Integration

Core Business Process Redesign

Long Term Alliances

Loyalty and Consumption Incentives

Plant specialization and rationalization

Costs and Expenses Reductions Programs

Best Demonstrated Practices

Benchmarking

Product Line Profitability's

Marketing

Optimization of Product Line

Growth Strategies

International Expansion

New Segments Penetration

Product Development

Distribution

Business Portfolio Analysis

Synergies

We participate in the creation, development, administration and placement of private investment funds. Capital issourced from prestigious investors, including the IFC, DEG, NORFUND, BID, private parties, and others:

CoreCo Central America I L.P.

Invermaster Group

SacBe Ventures LLC US$ 50 MM for Hotel Development in Central America and Colombia. Conceptualization - Negotiation - Follow-up

US$ 65 MM in capital for Central American companies. Fundraising – Negotiation – Administration – Investment - General Partner

US$ 20 MM in capital for Central American companiesFundraising – Negotiation – Administration – Investment - General Partner

Spectrum

Hilton - Princess

Laureate International Universities

We support your international expansion strategy.

Multi-national University Operator. Entrance strategy to two university education markets. Guatemala and El Salvador

Largest real estate developer in Guatemala. Mapping of opportunities and accessibility for nine cities in Mexico.

Owner and operator of Hilton Princess hotels. Evaluation of the potential market in seven markets in Colombia.

We map market segments and evaluate opportunities for a specific geographic market.

Maceramik

Internacional de Seguros

Grupo Progreso – Cal Division Mapping of 18 Latin American markets to evaluate opportunities for expansion in Cal.

Calculations on market size in Guatemala, Costa Rica and Panama. Evaluation of potential in the rest of Central America

Opportunities from the new regulations and opening of the Costa Rican market. Evolution and penetration potential for the market

Strategy - Opportunity Mapping

Costa Rica - December 2011

Energy Project Valuation

Guatemala – Mayo 2012 Nicaragua - January 2013

Strategy – Opportunity Mapping

Strategy - Opportunity Mapping

Costa Rica - December 2011

Energy Project Valuation

Guatemala – Mayo 2012 Nicaragua - January 2013

Strategy – Opportunity Mapping

Valuation, Due Diligence and Buyer

Advise for Strategic Acquisition

Costa Rica - August 2011

Corporate Valuation for Strategic

Acquisition

Costa Rica - November 2008

Due Diligence for Strategic Acquisition

Guatemala - January 2011

Costa Rica

Financial Planning and Long Term

Projections

New Market Strategy and Business

Development

Mexico – May 2007

Valuation and Due Diligence Support

Costa Rica

Costa Rica - October 2010 Guatemala & El Salvador – June 2009

Costa Rica – August 2011

Costa Rica

Strategy - Opportunity Mapping.

Guatemala – July 2011

Private Equity Investment in Real

Estate ProjectMarket Mapping, Scouting and Entry

Strategy Plan

Central America

Costa Rica - January 2012

Five-Year Strategic Growth Plan and

Franchise Model Design

Guatemala - October 2009

Strategic Alliance with Intelident

Guatemala - November 2009

Long Term Financing Package from

G&T Continental Bank

El Salvador - February 2010

Financial Valuation of a Central

American Bank and Financial Group

Panamá - June 2008

Corporate and Business Unit Strategy

Guatemala - April 2008

Market Map and a Market Entry

Strategy Plan

Guatemala & El Salvador - December 2009

Market Map and Country Entry

Strategy Plan

Costa Rica - December 2008

Internacional de Seguros Panama

Corporate Portfolio Analysis and

General Business Unit Strategic Plan

Guatemala - November 2009

Market Map and Entry Strategy Plan

Mexico - September 2008

Guatemala

Corporate Portfolio Analysis and a

Business Unit Strategic Long Term

Plan

Central America - November 2010

Long Term Debt and Mezzanine

Financing Package from IFC (World

Bank) and DEG (Germany)

Central America - May 2010

Joint Venture with Livsmart SA de CV

Guatemala - September 2010

Due Diligence and Advise to the Buyer

on Strategic Acquisition

Costa Rica - April 2010

Long Term Financial Plan

Mexico - September 2008

Due Diligence and Advise to the Buyer

on Strategic Acquisition

El Salvador - November 2008

Costa RicaCosta Rica

Local Market Support, Scouting and

Project Implementation

Costa Rica – January 2011

Strategic Alliance and Corporate

Finance

Costa Rica – January 2011

Market Mapping, Scouting and Entry

Strategy Plan

Colombia - September 2010

México Central America

We strengthen our position, knowledge and skills with access to leading individuals and institutions in their fields.

Consultants:Auditors, law firms, tax lawyers, technology servicescompanies, experts in specific industries, technicians andspecialists, etc.

Business Contacts:A large network of company owners and managers forleading businesses in the United States, Europe and LatinAmerica.

Investment Companies:More than 50 investment banks and venture capital fundswith past activity and investment in the region. FMO,DEG, IFC, IIC, BCIE, GTZ, EIB, etc.

Academic Institutions:INCAE (Costa Rica), IAE (Argentina), IPADE (México),Universidad Francisco Marroquín (Guatemala).

Roberto Eduardo Ponce Romay

In Central America, he participated in theconceptualization and development of some of the mostimportant groups in the region, including Grupo Taca,Amaco, and the alliance between Paiz and Más porMenos, as well as the takeover of almost all Coca Colabottling plants and the development of the real estatecompany Grupo De Sola, among others.

He participated as a member of the Board of Directorsfor several companies, such as a real estate developer, aninvestment group, a home accessories manufacture, anda software company in Mexico. He is an active partner atCoreCo Holding, a $50 million fund for private capitalinvestments in Central America.

He participates as the External Director for the Board ofDirectors of a regional branch of hotels. Mr. Ponce hasfrequently been invited to participate in seminars andconferences for INCAE, Latin Finance and Euromoney. Hehas also served as a columnist for the magazineEstrategia y Negocios y El Economista (Strategy andBusiness and the Economist). Mr. Ponce has an MBA fromINCAE, where he graduated among the first three in hisclass. He is an ex-airplane pilot and an AeronauticalEngineer for the Argentine Air Force and theUniversidad Católica de Córdoba in Argentina.

Invermaster founder and CoreCo Central America Fundpartner. Has more than 20 years of experience instrategic consulting for regional projects and investmentbanking, with experience in transactions worth morethan $2 billion; executing international growth andexpansion projects; portfolio optimization for businessconglomerates; and regional projects of industryconsolidation. Has acted as advisor to owners andinvestors for merger transactions and companyacquisitions, debt restructuring, corporate financenegotiations, and private capital fundraising. Has workedwith clients in almost all countries of Latin America, witha focus on Mexico, Central America, Colombia, and thesouthern United States. Additionally, is an investor andprivate investment funds advisor in the United States andLatin America.

Mr. Ponce enjoyed a stellar career at Bain & Company,Inc., one of the most prestigious strategic consultingfirms in the world. There, he occupied a range ofpositions, from analyst to senior manager. He was part ofthe founding team for Bain offices in Mexico (1997) andCosta Rica (1993), and was member of the initialdevelopment team for Bain in Sao Paulo, Brazil (1999).

Has more than 12 years of professional experience in thefinancial field. Before joining Invermaster, was Vice-presidentand Business Manager at Amba Research, a companydedicated to financial analysis for investment banks,investment funds, and hedge funds on an international level.She led the company's largest global account, one of the top10 investment banks in the world, and was in charge of ateam of more than 30 people. Additionally, she worked inresearch and financial analysis and was in charge of buildingand maintaining financial models for more than 200 LatinAmerican businesses, approximately 50 businesses in otheremerging markets, and 20 North American companies.

Prior to this, she worked for more than five years in thesecurities market in Bolivia, where she was an investmentanalyst for the Superintendencia de Pensiones, Valores ySeguros (Superintendency of Pensions, Securities andInsurance); securities market analyst for the Ministry of theTreasury; and arena director for the Bolivian stock exchange.Additionally, she has ample experience in client services andteam leadership.

Lorena has a Master's in Business Administration (MBA) withan emphasis in Economics and Finances from the IncaeBusiness School. She also has a Licenciatura degree inBusiness Administration from the Universidad CatólicaBoliviana.

Vice-president of Invermaster. Mr. Zamora has an MBA fromINCAE. He was also part of the founding team for Bain &Company in Costa Rica. From 1988 through the present, hehas participated in the management and direction of severalundertakings, commercial businesses, industrial companiesand services, as well as Nongovernmental Organizations(NGOs). The former both during the conceptualization stagesas well as for day-to-day operations.

Currently, serves as the II Vice-president of the Costa RicanChamber of Industries; President of the Costa Rican SupportFoundation for Micro and Medium Enterprises, an initiativeof the Costa Rican Chamber of Industries; and represents theCosta Rican private sector before the Advisory Board of theDevelopment Banking system; as well as other instances ofstrategic decision-making, including withFUNDECOOPERACION, an initiative that was establishedduring the Río Summit of 1992.

In Invermaster, he has participated in several strategicconsulting projects with regional reach, as well as thevaluation of businesses, mergers and acquisitions, and alsocorporate finance projects. All of the above was in theindustries of security, wealth management, financialservices, insurance, and real estate projects, among others.He has also collaborated in the process of creation andstructural reorganization of a Private Capital Fund that hasregional reach, and in established regulations for the use ofpublic funds to drive Seed Capital in Costa Rica..

Federico Zamora Cavallini Lorena Grundy Castaños

Juan Diego has participated in strategy projects, marketmapping, business portfolio optimization, mergers andacquisitions, and financial valuations for business groups inthe sectors of hotel management, energy, retail, callcenters, financial services, logistics, agroindustry, security,and real estate, among others.

Before joining the Invermaster team, he realized severalvaluations and financial structure reorganizations for a solidtelecommunications company. He has experience in theareas of marketing and finance with recognizedmultinational companies: In Philip Morris International,where he served as market analyst and generated marketresearch, worked in negotiations and coordinated eventsthat had a great impact on a brand portfolio. At CitiBank, asfinancial analyst, he worked in the department ofcommercial operations and then in the treasurydepartment, where he acquired knowledge of open marketoperations for the entire region. Finally, at Union CreditBank in Miami, he worked with financial products and thecapital market.

He graduated Cum Laude from the Universidad FranciscoMarroquín in Guatemala with a degree in BusinessAdministration and specialization in Finance andEntrepreneurship. Additionally, he has taken advancedFinance courses from Harvard University and the LondonSchool of Economics..

Valeria has participated in strategy projects for wholesalersand retailers for companies in the construction industry, aswell as in corporate restructuring; valuations in theindustries of retail, logistics, security, and call centers; andcapital fundraising. She is a part of the team in charge ofco-administering Invermaster's private capital investmentsin Costa Rica.

Before coming to Invermaster, Valeria worked as a financialanalyst in the Fixed Income department for an investmentbank in London, where she covered companies located inRussia, the Ukraine, Kazakhstan, Turkey, and the MiddleEast, and where she realized analysis and financialmodeling for the industries of banking,telecommunications, mining, petroleum and gas, amongothers. She has also worked in the Sociedad Administradorade Fondos de Inversión (S.A.F.I.; the Administration ofInvestment Funds) of the Securities Exchange, as assistantin specialized portfolios for Financial Investment Funds. Herexperience also includes the creation of business plans formicro, small and medium enterprises in Costa Rica.

Valeria studied Business Administration with an emphasis inFinance at La Salle University. She is currently pursuing herMBA with an emphasis in Finance. She is fluent in Spanish,English and Russian.

Valeria Araya Yuditskaya Juan Diego Berger Crespo

Pablo has participated in strategy projects and financialvaluations for companies in the sectors of hotelmanagement, call centers, security, real estate, and coffeeexportation, among others.

Before joining the Invermaster team in 2012, he worked inmanagement and administration positions for diverseprojects, including business development andcommercialization at Productos de Petén; management andlogistics at Spectrum Inmobiliaria; and coordination andadministration at Polar Industrial S.A.

Before joining the work force, he was actively involved instudent life as the co-founder in 2006 of the IndustrialEngineering Student Association for the Universidad DelValle in Guatemala; Project Manager for the "OplaCorn"project, a student association in favor of implementationand sustainable development in the most necessary areas;and delegate of the 2012 Master's class specializing inFinance.

He has a Master's degree in Finance from the businessschool Escuela de Alta Dirección y Administración (EADA) inBarcelona, Spain. He also possesses a Licenciatura degreein Industrial Engineering from the Universidad Del Valle inGuatemala..

Ana has participated in projects involving strategy,valuation, corporate finance and private equity forcompany in the sectors of retail, security, logistics,construction, real estate, and others. She has focused onvaluations for multiples, and has conducted marketresearch and participated in the creation of strategypresentations.

She is involved and gives support to private equity projects,specifically in the creation of investment teasers and pitchbooks for a diverse selection of companies.

She was in charge of creating manuals on environmentaland social policies for private equity funds with whichInvermaster has worked.

Before joining Invermaser, she worked in a family businessand focused primarily on providing support and performingadministrative functions.

In 2011 she participated in a fair for entrepreneurs, whichwas hosted by the Universidad Nacional of Costa Rica. Here,she won first prize in the environmental category. Shegraduated in Business Administration from the UniversidadNacional.

Ana Arias Fuentes Pablo Andrés Tager Penados

In the labor field, prior to Invermaster, Juliana interned inthe Costa Rican banking field. She obtained experience inthe marketing department of Scotiabank, where sheconducted surveys to improve customer service. She alsoworked at the Bansol dealing desk, where she was in chargeof reporting daily transactions from this area of the bank tothe Costa Rican Central Bank.

Juliana spent a semester in 2011 at the UniversidadInternacional de Monaco. There, she won a contest tolaunch a business and then present it to recognizedinvestors in Monte-Carlo; her idea was chosen as a possibleinvestment for the future.

Juliana graduated Magna Cum Laude in BusinessAdministration from American University in Washington,DC. She specialized in Finance with a minor in Economics.She is part of the International Society of Economics(OMICRON DELTA EPSILON) and was part of the HispanicBusiness Association at her university. She organizedactivities with the purpose of raising funds for the Latin-American community in Washington, DC.

Juliana Morales Abreu

GUATEMALADiagonal 6,12-42 Z. 10

Edif. Design Center Torre 2 Of 503Guatemala 01010, Guatemala

+502 2261-8965

COSTA RICA200 N Escuela EspañaSan Antonio de BelénHeredia, Costa Rica

+506 2239.0391

MIAMI2801 NE 183RD Street

Unit 1805Aventura FL 33160 USA

+1 (305) 677.3725