CONDUCTED IN SPANISH

Madrid2 October 2019

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YOUR GUIDE TO SPANISH EXPORT FINANCE

Back for its 5th edition, TXF Spain is the meeting point for senior professionals within Spanish Export Finance.

This year there will be renewed focus on specific regions, countries, sectors and

tools which could bolster your business and your relationships with exporters and financiers across the industry. You are guaranteed to leave with more knowledge, more

connections and plenty of new opportunitieson the horizon.

If you enjoy lively debate, networking over good food and coffee and getting your questions answered by senior voices in the market - TXF Spain is the place to be.

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WHY ATTEND

Conducted in Spanish

Global prospects

Conduct business in the right language and lose nothing in

translation

Local language but with a global look at the industry

and markets ripe for Spanish investment

Multiple breakouts

Vocal local exporters

CESCE and the banks

Space to network

More sessions mean more choice and plenty of specific

topics to explore

Hear from the borrowers looking for financing - how are

their needs changing?

Hear directly from the people financing deals, what are they

looking for, how could their coverage be improved?

Catch up after a long summer with your colleagues and

friends. We’ve left plenty of time to chat with coffee (and

maybe even some wine)

23Speakers

85+Companies

150+Guests

TOP SPEAKERS

TESTIMONIALS

Marta ValeroDeputy General Director -

Internationalization Financing Promotion

MINISTRY OF INDUSTRY, COMMERCE AND TOURISM, SPAIN

Beatriz RegueroDirectora Cuenta del

EstadoCESCE CREDIT INSURANCE

Paula de las Casas, Deputy Director SMEs State Account Business

DivisionCESCE

Eduardo OliveiraCEO, Finance and

AdministrationHOMT ESPAÑA S.A.

Fernando SalazarPresident

CESCE CREDIT INSURANCE

Mauricio ToledanoCEO

Eurofinsa

Pablo OtinCEO

POWERTIS

Salim Falaja ValdayoStrategy and Corporate Development DirectorFOCE CONSULTORA

Miguel Lopez de ForondaChief Financial Officer

GRUPO ALDESA

Ramón PlanelloFinancial Director of Sacyr

ConstructionSACYR

Antonio BonetPresidentCLUB DE

EXPORTADORES E INVERSORES

Angela PerezHead of Structured Finance

ELECNOR

Eduardo MasDirector - Structured

Trade & Export Finance DEUTSCHE BANK

Dirk BudachHead of Corporate Financing (CFF) South, West Europe,

North AfricaSIEMENS

Justo Garcia Gil Director - Structured

Finance HOMT ESPAÑA

Santiago HerreroHead of Political Risk, Credit & Bond – Iberia

AXA XL

Rafael Moreno Director, Export & Agency

Finance Commerzbank

Raffaele CordinerInvestment Officer,

Corporate Lending - Africa, Asia and Latin America

EUROPEAN INVESTMENT BANK

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Rafael Moreno, Commerzbank

This yearly event has become a must in the Spanish export finance market!

Great content, excellent venue, best networking

Santiago Herrero, AXA XL

Philippe Ramos, Sercobe

Dynamic, entertaining and first-hand information

Julio Gómez, ABB

Useful and enriching

Ana Bohórquez, Roca Junyent

This was my first time. Very interesting; particularly the opportunities of networking

and content withprofessionals of the trade & export sector

Welcome and key industry trends• We welcome you to the 5th edition of TXF Spain by providing a brief overview presentation on the current state of the

market, including key facts, figures, regional developments and new trends exclusively prepared using TXF Data, collated from

tagmydeals.

Spain’s place in the global export order• This session provides an update on the Spanish export finance market to discuss the challenges and opportunities within the

uncertain global climate. We tackle:

• The US-China trade war, Brexit, LatAm and Africa’s political landscape and elections – how have these influences impacted

the Spanish export drive? What opportunities are being leveraged?

• What solutions have been implemented to deal with the challenges in the market?

• How are banks overcoming the increasing regulatory and compliance requirements and how are deal structures evolving

because of these factors?

• How is the Spanish industrial and manufacturing sector fairing with regard to production and overseas export orders?

Fernando Salazar, President, CESCE Credit Insurance

PLENARYREGIONAL IDEA LAB

STREAMSECTOR & INDUSTRY IDEA

LAB STREAM

Coffee & registration

Break

Audience response survey

AGENDA

8:00

9:00

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Friends or foes?: CESCE and ECA competitionThis ECA session presents an overview of ECA coverage for the Spanish export market. We address:A year post-restructuring are Spanish exporters receiving the right amount of support from CESCE? What other tools will help exporters?With a greater number of non-OECD compliant ECAs, how is CESCE and other ECAs implementing innovative strategies to combat fierce market competition? What alternative financing methods are becoming available? Are local institutions bridging the gap?How is CESCE working with other ECAs to maximise risk appetite and flexibility for their clients?

Panellists:

Beatriz Reguero, Directora Cuenta delEstado, CESCE Credit Insurance

Raffaele Cordiner, Investment Officer, Corporate Lending - Africa, Asia and Latin America, European Investment Bank (EIB)Guillermo Hombravella, Managing Director - Global Head of Structuring & Product Development, Santander

Regional Insight: Latin America2018 and 2019 have been marked by major elections in Latin America’s largest economies. With so much change in the air, this idea lab seeks to discuss the latest prospects, with an emphasis on the public sector.

• How can LatAm become the fountain of buyer credit it should be?

• What does the project pipeline look like for the Andean countries – can we expect a similar megadeal like PetroPeru’s?

• With a changed political landscape in Brazil and Mexico, how has this influenced new business related to financing?

• Will the Argentine presidential elections bring hope for investors?

• Will the wait and see sentiment towards the region continue for 2019 and beyond?

Discussion Leaders:

Eduardo Mas, Director - Structured Trade & Export Finance, Deutsche Bank

Mauricio Toledano, CEO, Eurofinsa

Sector Insight: The powersector adapts for the futureWith coal and nuclear energy beingphased out in and LNG being tooexpensive in Spain, along with thegrowing push towards sustainability,how is the power sector evolving?

• What are the solar and wind projectinternational pipelines for 2019 andbeyond?

• What steps are being taken to ensureprojects are both financially andenvironmentally sustainable?

• Are companies shifting their focusfrom selling hard equipment todevelopment and intellectual property?Discussion Leaders:

Pablo Otin, CEO, Powertis

Supporting the Spanish export finance market• With high levels of liquidity and competition, in conjunction with low pricing, how are the key players in the Spanish export market faring? How

are deal structures developing?

• How is the increased cost of dollar financing for banks impact their ability to finance deals for Spanish exporters?

• Does the range of ECA products available satisfy the market needs?

• 2018 was a good year for the oil and gas sector, but will this hold for 2019? What other sectors hold new opportunities on the horizon?

• Spanish exporters: how do they compare on the world stage? How can specific industrial and technological expertise be further promoted?

Panellists:

Angela Perez, Head of Structured Finance, Elecnor

Marta Valero, Deputy General Director – Internationalization Financing Promotion, Ministry of Industry, Commerce and Tourism, SpainAntonio Bonet, President, Club de Exportadores e Inversores

CONDUCTED IN SPANISH

9:45

10:30

11:30

10:45

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2019: The year for SMEs?With SMEs gaining more attention from banks and ECAs:

• In which sectors are SMEs shining the brightest?

• How are SMEs coping with increasing

international competition and less

reward? How important is finding niche

business?

• Are there enough financial tools

available or do banks and ECAs need

to expand their offerings and be more

innovative?

• Are the right steps being taken

towards the digitalisation of the supply

chain? Who are the players driving the

technological force?

Dirk Budach, Head of Corporate Financing (CFF) South, West Europe, North Africa, SiemensPaula de las Casas, Deputy Director SMEs State Account Business Division, CESCE

Infrastructure to the foreSpanish EPC companies are renowned for their experience and excellence on the international stage. With the infrastructure sector growing as

an asset class across all regions, the project pipeline continues to grow from healthcare and sanitation to transportation. This session brings

together the key players from the Spanish infrastructure sector to share their views on the international pipeline.

• In which markets are Spanish EPC companies confident that they can make inroads?

• How important is cooperation with other foreign companies in vying for contacts?

• What is needed in the financing processes to improve getting deals over the line?

• How important have PPPs become in certain emerging markets, and how relevant are they for specific infrastructure projects?

Ramón Planello, Financial Director of Sacyr Construction, Sacyr

Miguel Lopez de Foronda, Chief Financial Officer, Grupo Aldesa

Regional Insight: Sub-Saharan AfricaThe region holds immense opportunities with good rewards, but the challenges and political risk factors are often significant. Investors also want to experiment with new methods and structures but face a major challenge to the mobilisation of funding sources due to tighter regulatory schemes and deal timelines. This session considers:

• The Sub-Saharan project pipeline for 2019 and beyond.

• How are Spanish players being more flexible and innovative in the face of tough competition from China? Where can Spanish companies gain an edge?

• How are investors working alongside multilaterals and development banks? What lessons can we learn from using blended finance to mitigate sovereign risk?

Discussion Leaders: Eduardo Oliveira, CEO - Finance and Administration, Homt España

Rafael Moreno, Director, Export & Agency Finance, Commerzbank

Regional Insight: MiddleEast & North AfricaIn 2018, the MENA region surpassedall others in terms of deal volume,particularly in transportationinfrastructure and the oil and gassectors. This idea lab’s aim to provide anupdate on the region by considering:

• Will public companies continue tolook to diversify financing, especiallywith regards to ECA coverage?

• Will the use of sovereign guaranteesremain prevalent? What other financialtools are being used and what lessonscan we take away from failed deals?

• Has the Qatar diplomatic crisis withSaudi/UAE and blockade and the USIransanctions impacted investment?How are companies managing tomitigate the geopolitical risks?

• Can we expect to see moreinvestment and diversification in boththe downstream oil and gas sector andin the industries away from oil and gas?

Discussion Leader: Salim Falaja Valdayo, Strategy and Corporate Development Director, Foce Consultora

Lunch

Closing remarks

Cocktail reception

Transaction risk and the private insurance market: brokers vs. underwritersThe Spanish export market continues its move away from traditional financing methods and also turning to a greater utilisation of private risk insurance product offerings. This debate-based session aims to discuss:

• How are Spanish investors dealing with issues related to sovereign and sub-sovereign involvement, particularly in Africa and LatAm?

• How are exporters and bankers dealing with the growing number of regulatory challenges? What solutions are being deployed to meet these challenges?

• Are brokers still able to commoditize their value? How will their role evolve moving forward?

• How important is cooperation between the private insurance market and ECAs, and where (markets/sectors) are we seeing the private insurance market help get deals across the line?

Santiago Herrero, Head of Political Risk, Credit & Bond – Iberia, AXA XL

¿Qué dice la gente?The Spanish and international export finance markets are witnessing a polarisation in deal structures and their sizes. We gather 2 teams of 2. Each team is composed of different players in the Spanish export finance market who will share the lessons they have learned from successful and less successful deals. Audience members will be assigned to each team and will vote on whether they agree with the lessons. Whichever team gets the most audience participation votes, wins!

Justo Garcia Gil, Director - Structured Finance, Homt España

12:15

14:30

15:15

16:00

16:45

17:00

Would you like to share your views as a speaker?Contact Elsa today.ELSA FUCILE elsa.fucile@txfmedia.com

To maximise your exposure as a leader in Spanish Export Finance, speak to AlexALEXANDRA SHATOVAalexandra.shatova@txfmedia.com

For media partnership & all other enquiries – contact:

Our logistics expert is Darshana, please contact her with any questions about the running of the event on the day.

ANDREW WOODHOUSEandrew.woodhouse@txfmedia.com

EARLY BIRD:(EXPIRES 23 AUGUST 2019)

€1499

STANDARD:

€1699

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DARSHANA SHETHdarshana.sheth@txfmedia.com