Letter of the Chief Executive Officer

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Dear Employees,

Our company had the joy of celebrating, a few days ago, its fifty-first (51st) anniversary. I wish to seize this opportunity to encourage you more to continue your efforts so that our company can take up the torch of the past as soon as possible and play a leading role in order to maintain the expected dynamic of success in the long term, which would make it resistant to any type of threat.

It could not have escaped your attention that the economic situation has stalled and thrown the most solid economies and the companies considered to be the healthiest into global uncertainty. It is as experienced and well-informed soldiers that you are getting ready to carry high the banner that unites us, and in the face of the dramatic situation imposed on us by both the COVID19 pandemic and the drop in oil prices, we will adopt a systematic attitude of diversification towards promising markets, of redeployment towards new profit centers that will make our company a model of resistance to the events that are affecting the global economies.

As we have already underlined in the near past and in order to become strong and efficient, SOCARAM SPA relies today on a hierarchical, modern, agile, flexible, transparent organization that offers opportunities to the best. This organization which is sought, deployed, and redeployed is a prelude to the optimized formalization of our working tools, the fluidity of our internal and external communication, and ultimately the achievement of objectives set by the company. In other words, we will spare no effort to make our business prosper in the face of fierce local adversity and we will not rest until we have placed the supreme interests of our company in the safest possible condition.

On the other hand, I also want to tell you that the only safe place for all our employees and at all levels in the company must now be associated with the genuine virtues of seriousness, competence, and discipline.

We must be aware, admit and repeat that we all have to provide good results and respect, in an atmosphere of serenity, the values of the company, the most important of which is trust.

In fact, it is through your sense of commitment, your diligence, and your professional conscience that you give life to this company and thereby contribute to its survival. I hope that the team spirit that motivates you, this healthy emulation of yours, will be able to resist the disturbances coming from all sides.

I promise to look after our heritage with the serene vigor of a responsible manager.

Ahmed Bourenane

Président CEOl of SOCARAM SPA