Everest Bidco Limited

The principal activity of the Company was that of an investment holding company, holding a 74% interest in Iridium Hermes Roads, S/L, the parent entity of a group of Spanish entities which operate and maintain shadow toll roads located in Spain. In January 2020 the Company, through Iridium Hermes Roads S/L, purchased 100% of the equity interest of three shadow toll road concession companies being Eix Diagonal Concessionària de la Generalitat de Catalunya, S.A., Autovía del Pirineo, S.A. and Reus-Alcover Concessionària de la Generalitat de Catalunya, S.A. for a combined purchase consideration of €173,113,375. In April 2020 the Company, through Iridium Hermes Roads S/L, purchased further shadow toll road concessions through the majority acquisition of Concesionaria Santiago Brión, S.A. and La Mancha Infrastructures and Investments, S.L. for a combined purchase consideration of €25,578,531. At the same time the Company, again through Iridium Hermes Roads S/L, also acquired a minority interest in the shadow toll road concession operator Autovía de los Pinares, S.A. for purchase consideration of €10,518,792. During the year the Company issued 23,839,759 ordinary shares to Hermes Infrastructure Fund I LP in exchange for payment of loan principal and accrued interest totalling €23,839,759.