In accordance with the provisions of article 59 of law 18.046 relating to public limited companies and circular letter no. 718, supplemented by circular letter no. 764 of December 21, 2012, both from the Financial Market Commission, the Board of The Administration of Salmones Camanchaca SA informs the shareholders of the following:

At the Annual General Meeting (AGM) on April 22, 2022, the appointment of an external audit company will be decided, to examine the accounting, inventory, balance sheet and other financial statements of our company, and issue a written report to the next AGM on the accomplishment of its purpose, in accordance with the provisions of article 52 of law 18.046.

For these purposes, the board of directors of the company will propose to the meeting, first of all, the appointment of the external audit company EY Audit SpA (“EY”), which provides audit services to the company since 2019, and, on the other hand, from the external audit company PricewaterhouseCoopers Consultores Auditores SpA (“PWC”), in accordance with the fundamentals indicated below.

The audit firms EY and PWC were invited to submit their proposals to provide external audit services to our company and its unlisted subsidiaries, expressly requesting that the proposals contain, at least, the following aspects:

  • Fees for the services offered;

  • Time and resources to be allocated to the review process;

  • Company knowledge

  • Industry knowledge;

  • Sanctions or complaints; and

  • Work teams.

Companies were invited because they met the independence, experience and track record requirements to review the company’s accounting, inventory, balance sheet and other financial statements, all of which are on the Companies Registry external audit of the Commission for the Financial Market. The proposals received included, among other aspects, the following:

  • Description of the audit methodology.

  • Context of the partners and managers in charge.

  • Additional services offered.

  • List of clients of the company dedicated to salmon farming.

  • proposed work program; and

  • Costs.

The administration of Salmones Camanchaca SA proceeded with the analysis and comparison of the proposals, in accordance with the established guidelines and criteria.

Once the assessment has been made and presented to the Management Committee, during a meeting on February 28, 2022, the committee unanimously agreed to propose to the Company’s Board of Directors, so that it in turn proposes at the general meeting of Salmones Camanchaca SA, the appointment, on the one hand, of the audit company EY and, on the other hand, of the audit company PWC.

The board of directors of Salmones Camanchaca SA, in an ordinary meeting held on February 28, 2022, after having analyzed the various proposals presented, unanimously decided to ratify the proposal of the committee of directors, to propose to the general meeting of the company, the appointment, firstly, of the external audit firm EY and, secondly, of the external audit firm PWC. The basis for the decision was as follows:

EY served as the Company’s external auditors for a third year in a manner considered successful, allowing them to deepen their knowledge of the Company and the industry. Their election as auditors for a fourth year is considered to follow a desirable cycle.

  • Recognized EY experience in auditing domestic and foreign listed companies.

  • In-depth knowledge of the national and international aquaculture sector.

  • Practical cost and estimated hours used for services offered by EY;

  • Validity of its registration in the Register of External Auditors of the Financial Market Commission; and

  • Independence and relevance of EY.

In appointing the audit firm PWC as a second option, consideration was given to PWC’s in-depth knowledge of the business and operations of the company and its subsidiaries, in addition to suitability and independence, the appropriate price of his proposal and knowledge of the sector.

A copy of the proposals presented by the external audit companies can be consulted by the shareholders, by sending an e-mail to[email protected], accompanied by a copy of his identity card and telephone number. In the case of legal persons, the representative must also attach a copy of the deed attesting to his capacity as representative. Once your shareholder status has been verified, you will be informed by e-mail of instructions for accessing a digital repository where you can consult the proposals at the times indicated.

Santiago, April 7, 2022

Shirlene J. Manley