Norson S.A. de C.V.

completed

The project will expand and upgrade pork growing operations of Norson Holdings S. de R.L. de C.V. (“Norson” or the “Company”), one of the leading integrated pork producers and processors in Mexico. The project includes: (i) modernizing Norson’s swine farms; (ii) increasing nursery capacity; (iii) expanding cold storage capacity; (iv) increasing slaughter, processing and value added capacity; (v) continuation of the implementation of its master sustainability program, including installing liners for waste water lagoons and an updated effluent treatment plant at the processing facility; and (vi) refinancing of the existing debt. On completion of the project, Norson’s processing facilities will have an annual capacity of some 700,000 hogs, with around 85% of these sourced from Norson’s own farms. Norson is a vertically integrated company, operating, manufacturing feed, which is supplied to its own farms, which in turn provide the majority of the hogs to the processing facility.