Company IAR SA Bucharest S.E.

IAR SA is a Romania-based company primarily engaged in the provision of repair and maintenance services for aircrafts. The Company is engaged in the manufacture of spare parts and provision of repair, maintenance and modernization services for military and commercial helicopters and motor gliders. The Company offers services for various models of helicopters, including IAR 330L Puma; IAR-330 L Puma SOCAT, SOCAT NATO and NAVAL; SA 330 SM, and IAR 316 B Alouette III. The Company is active nationally and internationally, including the United Arab Emirates, Pakistan, Lebanon and Oman. As of December 31, 2011, the Romanian Ministry of Economy held a 64.89% stake in IAR SA. In June 2013, the Romanian Ministry of Economy launched the privatization procedures at Iar SA.