Industry Report Activities of Head Offices; Management Consultancy Activities 2018 BULGARIA

Industry Report Activities of head offices; management consultancy activities 2018 BULGARIA

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This industry report is part of your subcription access to SeeNews | seenews.com/subscription CONTENTS

I. KEY INDICATORS

II. INTRODUCTION

III. REVENUES

IV. EXPENSES

V. PROFITABILITY

VI. EMPLOYMENT 1 SeeNews Industry Report

In 2017 there were a total of 6,898 companies operating in the industry. In 2016 their number totalled 7,019. I. KEY INDICATORS NUMBER OF COMPANIES IN ACTIVITIES OF HEAD OFFICES; The Activities of head offices; management consultancy MANAGEMENT CONSULTANCY ACTIVITIES INDUSTRY BY activities industry in Bulgaria was represented by 7,255 SECTORS companies at the end of 2018, compared to 6,898 in the SECTOR 2018 2017 2016 previous year and 7,019 in 2016. BUSINESS AND OTHER MANAGEMENT 6,679 6,339 6,461 CONSULTANCY ACTIVITIES The industry's net profit amounted to BGN 645,618,000 in PUBLIC RELATIONS AND COMMUNICATION 393 393 365 2018. ACTIVITIES ACTIVITIES OF HEAD OFFICES 183 166 193 The industry's total revenue was BGN 2,111,906,000 in 2018, up by 4.84% compared to the previous year.

The combined costs of the companies in the Activities of III. REVENUES head offices; management consultancy activities industry

reached BGN 1,426,573,000 in 2018, up by 13.94% year-on- The total revenue in the industry was BGN 2,111,906,000 in year. 2018, BGN 2,014,375,000 in 2017 and 1,723,219,000 in 2016.

The industry's total revenue makes up 2.13% to the country's Gross domestic product (GDP) in 2018, compared Total revenue to 2.10% for 2017 and 1.86% in 2016. Net sales revenue

2,200,000,000 2,111,906,000 A total of 27,758 people were employed in the Activities of 2,014,375,000 head offices; management consultancy activities industry in 2,000,000,000 2018, compared to 8,848 in 2017 and 8,652 in 2016. 1,800,000,0001,723,219,000 Most of the companies in the industry are based in Sofia, 1,600,000,000 followed by Plovdiv and Varna. 1,400,000,000

1,200,000,000 II. INTRODUCTION 1,263,527,000

BGN 1,000,000,000 1,048,086,000

In 2018 the companies in the Activities of head offices; 800,000,000938,199,000 management consultancy activities industry numbered 7,255, distributed in 3 sectors. 600,000,000

400,000,000

200,000,000 INDUSTRY STRUCTURE BY SECTORS AND NUMBER OF COMPANIES

0 2016 2017 2018

The companies in the Activities of head offices; management consultancy activities market of Bulgaria earned combined net sales revenues of BGN 1,263,527,000 in 2018.

393 In annual terms, sales marked a growth of 20.56% compared to 2017. In comparison to 2016 they rose by 34.68%. In 2017 183 sales increased by 11.71% year-on-year.

The Activities of head offices; management consultancy activities industry total revenue make up 2.13% to the 6,679 country's GDP in 2018, compared to 2.10% for 2017 and 1.86% in 2016.

Business and other management consultancy activities

Public relations and communication activities Activities of head offices

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Share in GDP 2.2 2.1% 2.13% INDUSTRY'S NET SALES REVENUE STRUCTURE BY SECTORS

2 1.86%

1.8

1.6

1.4 5.48% 1.2

1 3.31%

0.8

0.6 91.21% 0.4

0.2

0 2016 2017 2018

In 2018 the Activities of head offices; management Business and other management consultancy activities consultancy activities industry contributed to GDP BGN Activities of head offices 1,811,349,000 in Gross value added (GVA) accounting for 0.99% of the total for the country's economy. Public relations and communication activities

In the previous year, the industry's GVA amounted BGN The highest growth, of 33.87%, was recorded by Activities of 1,786,707,000, accounting for 1.05% of the total for the head offices, while Public relations and communication country in 2017. In 2016 the GVA of the Activities of head activities registered the sharpest decline, of 0.79%. offices; management consultancy activities was BGN 1,544,582,000, or 1.01% of the GVA for the country's TOP COMPANIES' REVENUE BY SECTORS SEGMENT COMPANY TOTAL REVENUE NET SALES economy. (BGN) REVENUE (BGN) BUSINESS AND OTHER MANAGEMENT CONSULTANCY ACTIVITIES GVA BY SECTORS DZHI STAR OOD 107,917,000 0 RANK SECTOR BGN SHARE OF THE COUNTRY'S NSN INVESTMANT EOOD 57,585,000 278,000 GVA (%) ADVANCE PROPERTIES OOD 55,789,000 9,671,000 1 BUSINESS AND OTHER MANAGEMENT 1,583,017,000 0.87 PUBLIC RELATIONS AND COMMUNICATION ACTIVITIES CONSULTANCY ACTIVITIES NS INDUSTRIES EOOD 2,520,000 249,000 2 ACTIVITIES OF HEAD OFFICES 186,193,000 0.10 UNITED PARTNERS EOOD 2,408,000 2,357,000 3 PUBLIC RELATIONS AND 42,139,000 0.02 COMMUNICATION ACTIVITIES HORA EOOD 2,315,000 2,311,000 ACTIVITIES OF HEAD OFFICES GLAVBOLGARSTROY HOLDING AD 26,975,000 15,224,000 We expect, based on the trend in the last three years, the total SOFSTOK TREYD AD 24,893,000 0 revenue of the Activities of head offices; management AMAREAL OOD 24,781,000 0 consultancy activities industry to change at a compound annual growth rate (CAGR) of 10.70% in 2019. The top 10 companies in terms of total revenue in Activities of Business and other management consultancy activities head offices; management consultancy activities accounted contributed net sales revenue of BGN 1,152,472,000 or 91.21% for 20.06% of the industry's total in 2018, 31.40% in 2017 and of the total net sales in the industry, sector Activities of head 31.20% in 2016. offices - BGN 69,241,000 (5.48%), and sector Public relations and communication activities - BGN 41,814,000 (3.31%). TOP 10 COMPANIES BY TOTAL AND NET SALES REVENUE IN THE INDUSTRY RANK COMPANY TOTAL REVENUE NET SALE (BGN) REVENUE (BGN) 1 DZHI STAR OOD 107,917,000 0 2 NSN INVESTMANT EOOD 57,585,000 278,000 3 ADVANCE PROPERTIES OOD 55,789,000 9,671,000 4 VIRTUAL ZONE EUROPE EOOD 51,692,000 51,632,000 5 ENRGO-PRO VARNA EAD 31,601,000 28,423,000 6 GLAVBOLGARSTROY HOLDING AD 26,975,000 15,224,000 7 SOFSTOK TREYD AD 24,893,000 0 8 AMAREAL OOD 24,781,000 0

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9 AMETA HOLDING AD 21,367,000 288,000 TOP 10 COMPANIES BY TOTAL REVENUE IN THE MARKET PUBLIC 10 BALKAN AEROSPACE ENGINEERING EOOD 21,142,000 0 RELATIONS AND COMMUNICATION ACTIVITIES WERE: COMPANY BGN NS INDUSTRIES EOOD 2,520,000 The total revenues of the top 10 companies in the Activities of UNITED PARTNERS EOOD 2,408,000 head offices; management consultancy activities were 0.43% HORA EOOD 2,315,000 of GDP in 2018, compared to 0.66% for 2017 and 0.58% in FAYF DABULYU KOMYUNIKEYSHANS OOD 1,913,000 2016. EVROSERVIZ KONSULTING BG OOD 1,506,000 TV DIRECT EOOD 1,324,000 The top 10 by assets in the Activities of head offices; HAMFRITO TREYD EOOD 1,178,000 management consultancy activities sector made up BGN PR PLAY OOD 1,142,000 56,741,000, or 4.49% of the total net sales revenue. IKONA KOMYUNIKEYSHANS GRUP EOOD 1,112,000 COMMUNICA EOOD 1,107,000 TOP 10 BY TOTAL ASSETS IN THE INDUSTRY RANK COMPANY BGN 1 ADVANCE PROPERTIES OOD 560,748,000 The 10 largest companies in terms of total revenue in sector 2 EVROINS INSHURANS GRUP AD 509,099,000 Public relations and communication activities earned total 3 ENRGO-PRO VARNA EAD 446,155,000 revenue of BGN 16,525,000 and accounted for 0.78% of the 4 CKB GROUP EAD 262,578,000 industry's total revenue. 5 HOLDING BDZ EAD 260,524,000 6 TAYLS KO OOD 219,075,000 TOP 10 COMPANIES BY TOTAL REVENUE IN THE MARKET 7 DZHI STAR OOD 215,900,000 ACTIVITIES OF HEAD OFFICES WERE: 8 EVN BULGARIA EAD 192,180,000 COMPANY BGN 9 SPEEDY GROUP AD 181,087,000 GLAVBOLGARSTROY HOLDING AD 26,975,000 10 AGROHOLD AD 166,052,000 SOFSTOK TREYD AD 24,893,000 AMAREAL OOD 24,781,000 METAL TECHNOLOGY GROUP - ANGEL BALEVSKI HOLDING AD 14,525,000 TOP 10 COMPANIES WITH HIGHEST ANNUAL GROWTH IN PRAYORITI INVESTMANTS OOD 14,400,000 OPERATING REVENUE IN ACTIVITIES OF HEAD OFFICES; HOLDING BDZ EAD 13,743,000 MANAGEMENT CONSULTANCY ACTIVITIES AVALON PROPERTY OOD 12,762,000 RANK COMPANY Y/Y GROWTH SIRMA GROUP HOLDING AD 9,730,000 1 BOVA ESTEYT OOD 165500.00% EVROINS INSHURANS GRUP AD 9,003,000 2 UIS EOOD 77666.67% EUROMARKET GROUP AD 7,807,000 3 VAMOS AD 45100.00% 4 T.B.F. EOOD 41200.00% 5 SANSIY DZZD 37100.00% The 10 largest companies in terms of total revenue in sector 6 BUSINESS SOLUTIONS INTERNATIONAL EOOD 28800.00% Activities of head offices earned total revenue of BGN 7 BALKAN AEROSPACE ENGINEERING EOOD 24480.23% 158,619,000 and accounted for 7.51% of the industry's total 8 DZHIDZHO 1 EOOD 24062.50% revenue. 9 ESMARK AD 21500.00% 10 NG BUSINESS CONSULTING OOD 19600.00% IV. EXPENSES

TOP 10 COMPANIES BY TOTAL REVENUE IN THE INDUSTRY The combined costs of the companies in the Activities of BUSINESS AND OTHER MANAGEMENT CONSULTANCY ACTIVITIES head offices; management consultancy activities industry WERE: COMPANY BGN reached BGN 1,426,573,000 in 2018. DZHI STAR OOD 107,917,000 NSN INVESTMANT EOOD 57,585,000 ADVANCE PROPERTIES OOD 55,789,000 VIRTUAL ZONE EUROPE EOOD 51,692,000 ENRGO-PRO VARNA EAD 31,601,000 AMETA HOLDING AD 21,367,000 BALKAN AEROSPACE ENGINEERING EOOD 21,142,000 CEZ BULGARIA EAD 19,314,000 KAPSCH TELEMATIK TECHNOLOGIES BULGARIA EAD 18,423,000 CASINO RESHENIA OOD 18,057,000

The 10 largest companies in terms of total revenue in sector Business and other management consultancy activities earned total revenue of BGN 402,887,000 and accounted for 19.08% of the industry's total revenue.

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Total Expenses Operational expenses INDUSTRY'S TOTAL COSTS STRUCTURE BY SECTORS

1,500,000,000 1,426,573,000 1,369,125,000 1,350,000,000 1,252,047,000

1,200,000,000 1,257,726,000

1,050,000,000 9.56% 1,047,410,000 900,000,000979,534,000

750,000,000

BGN 2.32% 600,000,000

450,000,000

300,000,000 88.13%

150,000,000

0 2016 2017 2018

In annual terms, total expenses went up by 13.94% compared Business and other management consultancy activities to 2017 and grew by 4.20% in comparison to 2016. Activities of head offices

The total operating expenses of the companies in the Public relations and communication activities Activities of head offices; management consultancy activities industry were BGN 1,257,726,000 in 2018. Business and other management consultancy activities marked the highest annual increase in total expenses, of Operating costs increased by 20.08% compared with the 16.51%, while total expenses dropped the most, by 9.53%, for previous year and went up by 28.40% when compared to Public relations and communication activities. 2016. In terms of operating expenses, the highest increase, of We expect, based on the trend in the last three years, the total 45.47%, was recorded by the Activities of head offices sector. costs of the Activities of head offices; management The sharpest drop was posted by Public relations and consultancy activities industry to change at a compound communication activities - 6.13%. annual growth rate (CAGR) of 2.08% in 2019. The biggest spenders in the industry, with costs of over 10% Business and other management consultancy activities of industry's costs, numbered 43, including METAL reported the highest total costs, of BGN 1,257,179,000, TECHNOLOGY GROUP - ANGEL BALEVSKI HOLDING AD, followed by Activities of head offices with BGN 136,345,000 ADVANCE PROPERTIES OOD, SIRMA GROUP HOLDING AD, and Public relations and communication activities with total WORLD TRAVEL CONSULTANCY OOD, EVOFARMA. The costs of BGN 33,049,000. medium spenders, or those in the 5% and 10% range count 63 and include KOKARI LIMITED - BRANCH BULGARIA, GLOBAL ADMINISTRATION EOOD, TUV NORD BULGARIA EOOD, CAROL FINANCE EOOD, RADENA COMPANY EOOD. Below 5% threshhold are 7,149 companies, including KEY-DZHI KONSULT EOOD, ASM - KONSULT EOOD, ESTREYA INVESTMANT EOOD, ALTIMA INTERNESHENAL AD, SUNMARK EOOD.

Employment expenses in the Activities of head offices; management consultancy activities industry rose by 20.73% on the year to BGN 341,131,000 in 2018.

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Employment expenses Average taxes expenses by company Salaries expenses 7,000

Social security expenses 6,151

350,000,000 341,131,000 6,000 5,474 315,000,000

280,925,000 282,565,000 5,000 280,000,000 305,744,000 4,362

245,000,000 252,818,000 251,716,000 4,000

210,000,000 BGN 175,000,000 3,000 BGN

140,000,000

2,000 105,000,000

70,000,000 1,000 27,459,000 29,711,000 34,591,000 35,000,000

0 0 2016 2017 2018 2016 2017 2018

The highest growth in labour costs, of 33.69%, was registered EXPENSES ON TAXES BY SECTORS by Activities of head offices. RANK SECTOR BGN Y/Y CHANGE 1 BUSINESS AND OTHER MANAGEMENT 37,006,000 4.33% The monthly costs per employee in the Activities of head CONSULTANCY ACTIVITIES offices; management consultancy activities industry averaged 2 ACTIVITIES OF HEAD OFFICES 1,415,000 -75.02% BGN 1,024 in 2018, BGN 2,661 in 2017 and BGN 2,706 in 3 PUBLIC RELATIONS AND COMMUNICATION 1,294,000 -0.54% ACTIVITIES 2016.

The monthly social security costs per employee in the industry averaged BGN 104 in 2018, versus BGN 280 in 2017 and BGN 264 in 2016. V. PROFITABILITY

EMPLOYMENT EXPENSES IN ACTIVITIES OF HEAD OFFICES; The industry's net profit amounted to BGN 645,618,000 in MANAGEMENT CONSULTANCY ACTIVITIES BY SECTORS IN 2018 2018, compared to a net profit of BGN 719,892,000 in 2017 RANK SECTOR EMPLOYMENT AVERAGE EXPENSES (BGN) EXPENSES PER and a net profit of BGN 323,474,000 in 2016. EMPLOYEE (BGN) 1 BUSINESS AND OTHER MANAGEMENT 309,549,000 11,461 Net profit/loss CONSULTANCY ACTIVITIES Operating profit/loss 2 ACTIVITIES OF HEAD OFFICES 23,986,000 46,127 3 PUBLIC RELATIONS AND COMMUNICATION 7,596,000 33,170 800,000,000 762,328,000 ACTIVITIES 685,333,000 700,000,000 719,892,000 THE TOP 10 COMPANIES BY AVERAGE MONTHLY COSTS PER 600,000,000 645,618,000 EMPLOYEE IN THE INDUSTRY RANK COMPANY BGN 1 IMPALA CONSULT EOOD 63,583 500,000,000 2 JURTUNA ENERGY EOOD 48,667 3 KEMET ELECTRONICS SERVICES EOOD 45,000 400,000,000354,094,000 4 SERDIKA FINANCIAL SERVICES EOOD 41,861 BGN

5 VTB CAPITAL AD 41,521 300,000,000 323,474,000 6 TOMAS UINTAR KONSULTING EOOD 41,500 7 HGP BULGARIA EOOD 35,417 200,000,000 8 GLOBAL KUOLITI SARVISIS EOOD 32,583 9 ELIRE GLOBAL EOOD 32,458 100,000,000 10 INNOVO DEVELOPMENT BULGARIA EOOD 28,833

0 The industry's tax expenses stood at BGN 39,715,000 in 2018. 2016 2017 2018 In 2017 it paid taxes of BGN 42,436,000. In 2016 the industry paid BGN 30,620,000 in taxes.

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ROE TOP 10 COMPANIES BY HIGHEST NET PROFIT IN ACTIVITIES OF ROA HEAD OFFICES; MANAGEMENT CONSULTANCY ACTIVITIES 17.91% RANK COMPANY BGN 18 1 DZHI STAR OOD 103,607,000 16.5 2 NSN INVESTMANT EOOD 48,490,000

3 ADVANCE PROPERTIES OOD 40,515,000 15 4 SOFSTOK TREYD AD 24,864,000 13.1% 13.5 5 AMAREAL OOD 24,399,000 6 AMETA HOLDING AD 21,087,000 12 7 PRAYORITI INVESTMANTS OOD 14,353,000 10.5 8 OPULENTIYA EOOD 12,968,000 9 AVALON PROPERTY OOD 12,536,000 8.27%9 10 TEMPAL SIMMANDS EOOD 11,158,000 7.5 8.07%

6 6.36% TOP COMPANIES BY HIGHEST NET LOSS IN ACTIVITIES OF HEAD 4.5 OFFICES; MANAGEMENT CONSULTANCY ACTIVITIES RANK COMPANY BGN 3.79%3 1 T.B.F. EOOD 20,924,000 1.5 2 HIGIA EAD 15,064,000 3 ENRGO-PRO VARNA EAD 4,636,000 0 4 ENERDZHI FINANS AD 3,461,000 2016 2017 2018 5 FINANSOVA KONSULTANTSKA KOMPANIA EOOD 3,261,000

LEADING INDUSTRY'S SECTORS BY ROA The combined operating earnings of the companies in the 12 11.66 Activities of head offices; management consultancy activities 11 field dropped by 10.10% y/y to BGN 685,333,000 in 2018. 10

OPERATING PROFIT/LOSS BY SECTORS (BGN) 9 SECTOR 2018 2017 2016 8 7.11 BUSINESS AND OTHER MANAGEMENT 579,138,000 576,240,000 343,145,000 7 CONSULTANCY ACTIVITIES ACTIVITIES OF HEAD OFFICES 93,803,000 175,124,000 2,397,000 6 PUBLIC RELATIONS AND 12,392,000 10,964,000 8,552,000 5 COMMUNICATION ACTIVITIES 4 3.8

The profit margin for the Activities of head offices; 2 management consultancy activities industry stood at 45.40% 1 in 2018, while in 2017 it amounted to 57.61% and 32.41% in 0 Public relations and Business and other Activities of head 2016. communication management offices activities consultancy activities PROFIT MARGIN BY SECTORS RANK SECTOR PROFIT MARGIN 1 ACTIVITIES OF HEAD OFFICES 91.31% LEADING INDUSTRY'S SECTORS BY ROE 2 BUSINESS AND OTHER MANAGEMENT CONSULTANCY 42.52% 30 29.15 ACTIVITIES 27.5 3 PUBLIC RELATIONS AND COMMUNICATION ACTIVITIES 27.65% 25

22.5 The Activities of head offices; management consultancy 20 activities industry's return on equity (ROE) is 13.10% compared 17.5 16.27 to 17.91% in 2017 and 8.27% in 2016. 15

12.5 The Activities of head offices; management consultancy activities's return on assets (ROA) was 6.36%, while in 2017 it 10 amounted to 8.07% and 3.79% in 2016. 7.5 5.93 5 2.5 0 Public relations and Business and other Activities of head communication management offices activities consultancy activities

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TOP 10 COMPANIES BY HIGHEST AVERAGE NET PROFIT PER TOP 10 COMPANIES WITH HIGHEST CORRELATION OPERATING EMPLOYEE IN ACTIVITIES OF HEAD OFFICES; MANAGEMENT REVENUE - NUMBER OF EMPLOYEES - EMPLOYMENT EXPENSES* RANK COMPANY NAME CORRELATION CONSULTANCY ACTIVITIES (BGN) RANK COMPANY BGN COMPANY HEA DQUARTERS 1 BALKAN AEROSPACE ENGINEERING EOOD 21,061,000 (CITY) 2 SITE ENERDGY OOD 7,430,000 1 DIVELAPMANT GRUP AD 7,629,000 SOFIA 3 TRADE FERT OOD 6,218,000 2 PATISHTA I SAORAZHENIYA - GMS EOOD 6,620,000 SOFIA 4 SPEEDY GROUP AD 5,741,000 3 KAPITAL INVEST BG AD 6,339,000 SOFIA 5 SOVIS 1890 EOOD 4,215,000 4 SPEEDY GROUP AD 5,303,000 PLOVDIV 6 NSN INVESTMANT EOOD 4,202,615 5 NSN INVESTMANT EOOD 3,730,000 SOFIA 7 GLOBAL ADMINISTRATION EOOD 3,599,000 6 AMETA HOLDING AD 3,012,429 PAVLIKENI 8 ARCSTEEL SERVICES EOOD 3,032,000 7 ASANI MENIDZHMANT OOD 2,493,000 SOFIA 9 RATIONAL MARKETING EOOD 2,774,000 8 GENERAL STOCK INVESTMENT EOOD 2,364,000 SOFIA 10 GLOBAL ENERGY TRADE AD 2,287,000 9 BULKAPITAL GRUP OOD 1,757,000 VARNA

10 AEON-BS EOOD 1,521,000 VARNA

*The correlation is calculated by subtracting the quotient of the operating profit, and the employment expenses to the number of employees. About 60.00% of the 10 leading companies in terms of net profit per employee are located in SOFIA, while 20.00% are AVERAGE REVENUES PER EMPLOYEE IN ACTIVITIES OF HEAD VARNA-based and 10.00% are headquartered in PAVLIKENI. OFFICES; MANAGEMENT CONSULTANCY ACTIVITIES IN 2018 SECTOR AVERAGE NET AVERAGE AVERAGE NUMBER OF SALES OPERATING TOTAL EMPLOYEES The average net sales revenue per employee in the Activities REVENUE REVENUE REVENUE (BGN) (BGN) (BGN) of head offices; management consultancy activities industry BUSINESS AND OTHER 42,670 50,432 67,989 27,009 amounted to BGN 45,519 in 2018, down by 61.57% compared MANAGEMENT CONSULTANCY to 2017 and down by 58.02% compared to 2016. ACTIVITIES PUBLIC RELATIONS AND 182,594 195,686 198,432 229 The industry's average operating revenue per employee fell by COMMUNICATION ACTIVITIES 63.63% year-on-year in 2018 to BGN 54,387. It went down by ACTIVITIES OF HEAD OFFICES 133,156 197,554 442,592 520 56.93% compared to 2016.

The Activities of head offices; management consultancy AVERAGE REVENUE PER COMPANY IN ACTIVITIES OF HEAD activities industry generated an average BGN 76,083 in total OFFICES; MANAGEMENT CONSULTANCY ACTIVITIES IN 2018 SECTOR AVERAGE NET AVERAGE AVERAGE NUMBER OF revenue per employee. In 2017 and 2016 the figure was BGN SALES OPERATING TOTAL COMPANIES 227,664 and BGN 199,170, respectively. REVENUE REVENUE REVENUE (BGN) (BGN) (BGN) ACTIVITIES OF HEAD OFFICES 378,366 561,355 1,257,639 183 The average total revenue per company in the Activities of BUSINESS AND OTHER 172,552 203,942 274,939 6,679 head offices; management consultancy activities industry fell MANAGEMENT CONSULTANCY to BGN 291,097 in 2018 from BGN 292,023 in 2017. The 2016 ACTIVITIES value was BGN 245,508. PUBLIC RELATIONS AND 106,397 114,025 115,626 393 COMMUNICATION ACTIVITIES A company in the Activities of head offices; management consultancy activities sector made on average a net sales revenue of BGN 174,159 in 2018, compared to BGN 151,941 in The total indebtedness of the companies in the Activities of 2017 and BGN 133,666 in 2016. head offices; management consultancy activities industry was BGN 5,096,823,000 versus BGN 4,785,913,000 a year ago. In The Activities of head offices; management consultancy 2016 the industry's indebtedness totalled BGN 4,455,987,000. activities industry made 0.43% of the overall sales country- wide, rising its market share by 0.05 pp. INDUSTRY'S INDEBTEDNESS BY SECTORS (BGN) SECTOR 2018 2017 2016 Operating profit per employee for the industry as a whole was BUSINESS AND OTHER 4,179,744,000 3,848,876,000 3,477,100,000 MANAGEMENT CONSULTANCY BGN 24,690 in 2018. For comparison in 2017 it amounted to ACTIVITIES BGN 86,158 and BGN 86,158 in 2016. ACTIVITIES OF HEAD OFFICES 860,940,000 861,820,000 898,976,000 PUBLIC RELATIONS AND 56,139,000 75,217,000 79,911,000 THE TOP BY OPERATIONAL PROFIT PER EMPLOYEE IN ACTIVITIES COMMUNICATION ACTIVITIES OF HEAD OFFICES; MANAGEMENT CONSULTANCY ACTIVITIES RANK COMPANY BGN 1 DIVELAPMANT GRUP AD 8,172,000 Debt-to-assets ratio of the companies in the industry is 0.50 2 PATISHTA I SAORAZHENIYA - GMS EOOD 7,367,000 in 2018. It was 0.54 in 2017 and 0.52 in 2016. 3 KAPITAL INVEST BG AD 6,962,000 4 SPEEDY GROUP AD 5,274,000 5 NSN INVESTMANT EOOD 4,149,231 VI. EMPLOYMENT

A total of 27,758 people were employed in the Activities of head offices; management consultancy activities sector at the end of 2018, compared to 8,848 in 2017 and 8,652 in 2016.

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to numbers make up 74.19% of the workforce in the industry NUMBER OF EMPLOYEES BY INDUSTRY SECTORS in 2018. SECTOR NUMBER SHARE OF INDUSTRY TOTAL TOP 10 COMPANIES BY SHARE IN INDUSTRY'S TOTAL NUMBER OF BUSINESS AND OTHER MANAGEMENT CONSULTANCY 27,009 97.30% EMPLOYEES ACTIVITIES RANK COMPANY NUMBER OF SHARE EMPLOYEES ACTIVITIES OF HEAD OFFICES 520 1.87% 1 EVOLUTA EOOD 18,480 66.58% PUBLIC RELATIONS AND COMMUNICATION ACTIVITIES 229 0.82% 2 ENRGO-PRO VARNA EAD 518 1.87%

3 DR. PENDL & DR. PISWANGER EOOD 352 1.27%

4 CEZ BULGARIA EAD 333 1.20% 5 BOIL BT EOOD 195 0.70% ALLOCATION OF EMPLOYEES BY INDUSTRY'S SECTORS 6 PROMEDICA24 TEAM BG EOOD 161 0.58% 7 STARS INTERACTIVE SERVICES (BULGARIA) 158 0.57% EOOD 8 HOLDING BDZ EAD 140 0.50% 9 CASINO RESHENIA OOD 129 0.46% 10 RISOURCES MANAGEMENT SERVICES OOD 128 0.46%

The Activities of head offices; management consultancy activities industry is the 25th largest employer in the country with 27,758 employees with the largest employer being Retail 520 trade, except of motor vehicles and motorcycles with 222,070 229 and Extraction of crude petroleum and natural gas at the 27,009 bottom with 28 employees.

The Activities of head offices; management consultancy activities's share in the country's total employment was 1.20% in 2018, 0.48% in 2017 and 0.45% in 2016.

We expect, based on the trend in the last three years, the number of employees of the Activities of head offices; management consultancy activities industry to change at a compound annual growth rate (CAGR) of 79.12% in 2019.

Business and other management consultancy activities Activities of head offices Public relations and communication activities

The analysis on companies' sizes by the number of employees, shows that 1890 firms have less than 50 employees*, 19 have between 50 and 250 employees* and 4 companies employ more than 250*.

* Companies without data in the number of employees at end of the year are not taken into consideration.

COMPANIES IN THE INDUSTRY BY SIZE IN TERMS OF NUMBER OF EMPLOYEES 1 900 1 890

1 710

1 520

1 330

1 140

950

760

570

380

190 19 4 Small Medium Big

The employees of the leading 10 companies when it comes 9 SeeNews Industry Report

The industry is represented by the following companies

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ES END EM KONSULTING EOOD DM DIMOVSKI EOOD NSA INVESTMENT EOOD LADAEK OOD SIIPIEY EOOD FRANCHISING-BULGARIA EOOD SIS PRODJECT OOD SUPRIYM ISTEYTS EOOD LEIFE EOOD HOLANDIYA RIAL ESTEYT 4 OOD VARNA 2016 EOOD METSANIN INVEST EOOD CITY CONTROL EOOD KOKARI LIMITED - BRANCH BULGARIA 3P CONSULTING EOOD URMAN EOOD IMPULS ART 77LTD EOOD BGL BULGARIA EOOD APEYRON KOMYUNIKEYSHAN EOOD FADELADV OOD VERTEKS IMOTI EOOD DAYV SOSHAL EOOD H2H COMMUNICATIONS OOD MTZH INVEST EOOD KONSULTORES I PROMOSIONES EOOD SKS INTELEX EOOD BULGARO GERMANSKI INSTITUT PO UPRAVLENIE A-TRANE EAD NA KACHESTVOTO I PROMISHLEN LB KONSULTING EOOD MERLON GOLD EOOD YANINA UKR EOOD MENIDZHMANT BGIK OOD BILD INVEST GRUP-SOFIYA EAD R AND A MANAGEMENT EOOD HOTIS EOOD NYU EURO ADVAYS EOOD DALENIA EOOD PLEVEN PLUS EAD EKOINVEST 2013 EOOD TSVYAT 23 EOOD STO - BTT EOOD BONIMEKS TREYD EOOD IVV GROUP EOOD MG TRADE AND CONSULTING EOOD HYUMAN MATRIKS OOD UNION BALKANS BUSINESS SF OOD AVTS KONSULT AD IRZ SOLUTIONS OOD ARROYO CAPITAL EOOD GLOBAL SEKYURITI SOLYUSHANS EOOD PROEKTO CONSULT EOOD STANDART KOMERS PZ EOOD LUIS LONDON COMPANY EOOD DZHEY DZHEY SEKYURITI EOOD DIAGRAMIK PRODZHEKT MENIDZHMANT AD TRIQUETRA EOOD T 2 R OOD EKONTA EOOD VERSPER EOOD VATO 2002 EOOD MAT GRUPA EOOD BLES KONSULTING EOOD BUL TREDING AD SHIPANOV - BUSINESS AND FINANCE CONSULT KUSH TRADING EOOD DICON GROUP EOOD EOOD E3 PROJECT EAD CYPBUL ENTERPRISES EOOD LEGARD EOOD PROSPERA 108 EOOD KAPITAL-3000 AD AB MANAGEMENT AND CONSULTING EOOD KINMAKE EOOD DEKOR INTERNESHANAL EOOD FINANCIAL - INDUSTRIAL GROUP REI HOLDING AD PEOPLE EXCHANGES LLC EOOD BIZNES MENIDZHMANT SARVISIZ OOD M CONSULTING OOD LIDMAR EOOD FORSETI KONSULT EOOD KS TRADING-2004 EOOD PIYTBOS OOD PP PRO-KONSULT EOOD AKR 56 EOOD FERMERSKO MLYAKO OOD KAS IMOTI EOOD AY TI DI - KORPORATSIYA EOOD INOVACIO STRANDZJA EOOD OPTIMOBIL EOOD IVE - 99 OOD IO CONSULT EOOD VM INTER KONSULT OOD KAORI KEM EOOD BIZNES ADVAYZAR OOD LIMES-CONSULTING EOOD V A R OFIS SERVIZ EOOD NISOFF CONSULT OOD G E 88 CONSULT EOOD S - SPA 5 EOOD GREENTECH PRO EOOD VPV CONSULTING TEAM EOOD SVE ES EOOD INK LANDMARK EOOD EKN KONSULT RG CONSULT EOOD EVRO AKSES KONSULTING EOOD YOVA EOOD ASPENDOS - 67 EOOD LINDINGER EOOD HEDON CONSULT EOOD LIFE DIVISION BULGARIA EOOD RELO - B OOD CREDISOLUTIONS EOOD STROYKOM 1 OOD VIP CONSULTING 21 EOOD RINOVATOR EOOD STONE SALES CZ EOOD ZLATKOVA CONSULT EOOD ARS EOOD KREDITEN TSENTAR BREYN STORM OOD BIG TITS EOOD MILENIUM INTERNESHANAL KONSULT OOD TOLEV CONSULT EOOD PRISMATICA EOOD POPOV CONSULTING EOOD CK GROUP OOD ELC PRO MANAGEMENT EOOD NEVEN GROUP BUSINESS MANAGEMENT GMBH RASPBERRIES BG EOOD EKSELIANT EOOD & CO. 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HOLDING EAD SAFETY NETWORK OOD EZ CONSULT EOOD PERSONAL INVEST EOOD EVRO-SORS KONSULT EOOD TSENTAR ZA MODELIRANE, EKSPERTIZA, TEMISGRUP BG OOD NOTIFIKATSIYA I SERTIFIKATSIYA EOOD WADATA EOOD SVK ENTERPRISES EOOD ARUNA PR ADVISORY EOOD LEVERAGE DEVELOP EOOD ARTE KAZA EOOD DIDZHIBI INTERNESHANAL EOOD EMP INVEST BULGARIA AD BIOSTETICA BULGARIA EOOD CHALENGER 605 EAD ILEVAN INVESTMANTS KDA HARDEKSIM EOOD METEO - RAYD EOOD L EVENTS EOOD TARBAGATAY EOOD GLOBAL KONSULT PROEKT EOOD AGER SOUTH EAST EUROPE INTERNATIONAL SOURCEWAYS OOD DAY FINANCE EOOD CONSULTING EOOD D-SALEMAX EOOD PROFAKTOR BG EOOD HOREKA KONSULTING EOOD PM SOLUTIONS OOD TRAC01 OOD SOMOV KANSALT EOOD BISTRA MICEVA EOOD DANI 0315 EOOD GROUS BG EOOD PROMED CONSULT OOD BUSINESS SOLUTIONS INTERNATIONAL EOOD GREENTECH PROJECTS EOOD FRAREG BULGARIA EOOD TEAM 4 YOU EOOD BREYV STORM KRIEYTIV EOOD GVG CAPITAL EOOD RIVINGTON INVEST EOOD BALGERIAN FAYNALTACH KANSALTING EOOD ALBA LONGA EOOD ANALITIKA R EOOD EFIGA EOOD GAB FIN EOOD INTERMODAL TSENTAR EOOD ANKOLY EOOD EVROPROEKT ADVAYZAR EOOD VINARNA-SVISHTOV AD FLEXJOB 2005 EOOD SQUARE MARITIME EOOD TRI SIIS TREYD END KONSULTING EOOD HOME MANAGEMENT SERVICES EOOD KONSULTANTSKI TSENTAR EVROPA EOOD INNOVO INVESTMENT MANAGEMENT OOD EL DZHI AR KONSULT OOD CONSEJO EOOD INTER MODA TREYDING OOD EURO EOOD SORTIS INVEST EOOD ET VIMAKS 22 - IVELINA IVANOVA GLOBAL FESHAN KONSULTANTS OOD UTILITIES SERVICES EOOD SHORROCKS EOOD INVEKSTRA EOOD ECOELECTRICITY - 2009 EOOD U.REIF EOOD BON ART PERFEKT EOOD MURATOV PROPARTI EOOD PERITUM EOOD VIPIDEV EOOD PR CONSULTING OOD EYCH AR GRUP-FORS KONSULT BECAUSE EOOD DART CONSULT EOOD IMMO CONTROLE AGENCY EOOD RIABILITA INTERNESHANAL EOOD STRIVE EOOD SEE CAPITAL ADVISORY OOD LEC OUTSOURCING MANAGEMENT OOD DZZD OBNOVEN DOM TORAD 2011 EOOD DEMIL-S EOOD ARTI BULGARIA EOOD SEA EAGLE MANAGEMENT EOOD GARITAGE EOOD LOYALCONSULT MM EOOD ANSA OOD YELLOW EOOD GREEN LINE COMPANY EOOD ESCA CONSULTING OOD PERFETO KONSULTING 2015 EOOD URANUS KANSALTING EOOD VISIO TECH OOD 11 SeeNews Industry Report

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OOD ATTICA FOODS EOOD SOMNI OOD STOROS OOD VIG14 OOD ENVISIMO CONSULTING EOOD S COR EOOD SANDEL KONSULT EOOD VILA KRISTINA EOOD ROLMART EOOD INOBIM OOD EYENDI BULGARIA EOOD VN JUNIOR SOLUTIONS EOOD TAKIDNIS OOD GLOBAL TREYD 6 EOOD : AN ENERGY BG OOD TRAVEL KONSULT EOOD CRYSTAL WATER EOOD M AND L 2000 EOOD MID-POINT PARTNERS OOD MONI EL GRUP EOOD SISTEMCONSULT EOOD DICHEV KONSULTING OOD PROEVENTS GROUP OOD PTEE KONSULTING OOD PAVLOV 13 EOOD KOBO INTERNESHANAL EOOD PATINZHENERING - RUSE AD 4 KAPITAL OOD PORT KONSULT RUSPARTNERS ATE EOOD DRIVE INTERNATIONAL OOD TECHNOLOGY TRANSFER ASSOCIATES OOD DOCUMENTATION SERVICES EOOD DZZD KONSORTSIUM SPORTEN TSENTAR BLUE PERFECT EOOD HEALTH ADVISORS OOD GLAVNITSA BETACONSULT PHARMA EOOD AFRO-EXOTICA FOOD OOD AK GROUP CONSULTING OOD G M P GROUP EOOD KRANOSTROENE INZHENERING-97 AD KBI CONSULT OOD TUV NORD BULGARIA EOOD PAUAR KAPITAL TREYD EOOD E END PI EOOD EVEMMA EOOD TOURIST HOUSE EOOD DEGRAN EOOD VENCHAR EKUITI PARTNARS OOD SPIRIT H EOOD STARKONT EOOD INNOVO DEVELOPMENT BULGARIA EOOD GRAPIKO TRADE EOOD LA MALLENA EOOD I C D A EOOD OKI-KONSULT EOOD PRIME PROPERTY PROJECTS BULGARIA OOD 12 SeeNews Industry Report

STRATEGIA RS DZZD ALFA SOLUTIONS 7 EOOD STIDO OOD QATAR MANAGEMENT AGENCY EOOD JASMINA EOOD FILKOR EOOD MM CONSULT EOOD RADENA COMPANY EOOD NEOPROFIT EOOD IV PARTNERS EOOD 2 EOOD PROFESSIONAL MARINE SERVICE EOOD ID CONSULTING - 7 EOOD ED CONSULTING EOOD PETROV AGRO KONSULT EOOD SB GROUP EOOD KREON BULGARIA EOOD TRAVELFAN OOD SIMPLICITY INVESTMENTS EOOD ABILITY CONSULT EOOD KRELECTRONICS AND MACHINERY EOOD AGRO STANDART-EDV OOD VIKTORI KONSULTING EOOD LM CONSULT INTERNATIONAL EOOD FIRMENA I IKONOMICHESKA SIGURNOST DUTY AND TAX CONSULTING SERVICES EOOD ORBITA TRADE EOOD ZLATKA ATANASOVA PEKANOVA KONSULTING EOOD GEO-VATT BULGARIA EOOD MAXIMUM I EOOD DD PROAKTIV INITSIATIVI DZZD MDEDOS2000 EOOD ZVEZDNA NOSHT EOOD TECHNOLINK INVEST AD R.E.D. 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PRIVACY CONSULTING OOD ENERGY INVEST PRO EOOD KOMUNALNI USLUGI EOOD REAL KONSULT BG EOOD ALUXOR EOOD KPM CONSULTING EOOD INVEST BULGARIA GRUP EOOD ARGO ALFA EOOD BLUE DREAM SOLUTIONS EOOD BRIL CAMPANY EOOD OSCORP OOD DZHEYVIAY SARVISIS EOOD EDSUM EOOD INUIKS EOOD KAN 21 EOOD YOSIF PAPADOPULOS EOOD MEGALINK EAD SAZVEZDIE LAV EOOD AGRO STROI 77 EOOD BARGAIN BULGARIA EOOD A-TREYD-3000 EOOD RUSS-TREYD EOOD KRIEYT END MEYK EOOD ORIENTAL COLLECTION EOOD ABSOLYUT PROPARTI - HOLDING EAD COBDEN PARTNERS BULGARIA OOD PEOPLE SOLUTIONS FACTORY OOD BALGERIYA SOFTUEAR KAMPANI EOOD LEXGLOBUS COM EOOD STAMOV KONSULT EOOD INTERKAUNT EOOD PRESKRIPTSIA EOOD BADI PROMIANATA OOD DIAURUM SPA EAD PI EYDZH SALYUSHAN EOOD AY DZHI EM AD BULGARSKA FINANSOVA GRUPA OOD ALLIANCE BALKANI CONSULT OOD INTERKONSULTING OOD DREAMERSDO OOD S KONSULTING EOOD SVETLINA 21 VEK AD IOANNA GKOUVATSOU EOOD BI END DZHI EU EOOD ETABAC EOOD MNL MYUZIK NEVAR LAYS EOOD GREEN MORIA EOOD AYVAT EOOD VESELINA MITEVA VM EOOD MIDAL IYST EYDZHANTS EOOD ET REGIOKONSULT - GEORGI MITEV POLICY CONSULT OOD FDS EOOD ITM CONSULT EOOD ESTE DERM OOD VALCHEV ENERGIEN KONSULTANT EOOD ASIST-OPIK DZZD KREMENA TSVYATKOVA EOOD AREAL BG EOOD ASBG CONSULT EOOD DORATIN EOOD NYU EKSPORT GRUP EOOD 13 SeeNews Industry Report

SELKAT BUL 2 EOOD EAR VIA OOD HEY MATE EOOD ER TIYM EOOD VGA ADVAYZ EOOD EDIL GROUP EOOD AVTORAF 8 OOD ALMEX CONSULT EOOD UNIQUE TRAVEL OOD ENERDZHI ASET MENIDZHMANT HOLDING EOOD TOP MANAGEMENT ADVISORS OOD EKOKOM BG EOOD VASILEVA AND KYURKCHIEVA EOOD DELI EVENT CONCEPT EOOD GE TE TREYD EOOD STAR PERFORMINING EOOD BALKANI 1957 EOOD FINANS INVESTMANTS PROPARTIS 2016 EOOD BOVA ESTEYT OOD ZARE BULGARIA AD PEPEIMPEX EOOD LEX SOFIA OOD CASHEL TRAVEL OOD MOBIL PROEKT OOD MARK SPARK EOOD KONSTANTI-NOVICHI EOOD VIRAL KS EOOD G V A-ALEKSANDAR SAPAREVSKI ET GLOBAL KONSALTING GRUP EOOD GAUS OOD EUROPA CONSULENZE EOOD C-TRUST GROUP EOOD STATUS IMOTI MENIDZHMANT OOD KONSULTANTSKA KASHTA RESHENIA EOOD AGRIKO PRODUKT OOD ART E STROY - 2 EOOD RAVEN CONSULTING GROUP OOD NOVA KONSULT 2020 EOOD PASSY EXPERIENCE EOOD GKS KONSULTING EOOD PROMED SERVICES EOOD DUNAVSKI HORIZONTI PRIVATE PROPERTY POOL EOOD CENTURY BG OOD MEDIA KOM EOOD PR & EVENT CONSULTING AD GAMMA RENT EOOD FINANSPARTNER EOOD COUNSELORS OOD BULECOPROYECTS SOFIA OOD ALARITA EOOD SAVANA SITI BILD AD DE NOVO PARTNERS AD GIVE KONSULT EOOD BELL BULGARIA EOOD CIEMME GROUP CONSULTING AND TRADING OOD BULGCOM EOOD AS FINANCE CONSULT OOD TONAT KONSULT EOOD VIVAMUS CONSULT EOOD INDOOR KONSULT OOD EURO TRADING-CONSULTING EOOD TALIA FINANCE EOOD SUNRISE BULGARIA EOOD INTERNATIONAL KONSULTING AND TRADING PANTA REY HOSPITALITI SARVISIS EOOD AOETEAROA MANA EOOD EOOD ENGINEERING PRODUCTIVITY AND JANEV AND JANEV OOD SKRIBO EOOD AUTOMATION GMBH OOD SALMO GLOBAL ADVISORY EOOD RESOURCES MANAGEMENT SERVICES ET MARAD - TODOR KRASTEVICH LEALES EOOD ABLE EOOD KRUMOVGRAD EOOD SENZIO EOOD VIP TUR BG EOOD MR CORPORATION OOD KONSULT - ANASTASIA BRATANOVA ET SIDEKS EOOD REEF BULGARIA EOOD ECOL-EM EOOD FENIKS ROY EOOD FAST CASH SOLUTIONS EOOD ER - SHOT EOOD BULPROEKT KONSULT OOD EKSIOR EOOD TANISIMA OOD IVV CONSULT EOOD KS CONSULTING OOD UROPEAN MARKETING SALES CONSULTING MERLON EOOD EOOD ARP MANAGEMENT & TECHNICAL DEYTONA BG EOOD ZENTIVA KLON BULGARIA KCHT CONSULTANCY EAD DIMAK INZHENERING OOD TRANSMISHAN TEHNOLODZHI KONSULT EAD NEW I AD KONSULT MEDIKA PLYUS OOD VALTERA EOOD GLASSCUBE EOOD VC CONSULTANTS EOOD AGC MANAGEMENT OOD OMEGA GROUP CONSULTING EOOD BALKANIKA KONSULT EOOD VALENS 2010 EOOD CREDITREGIA EOOD LEB DESIGN STUDIO EOOD FRONT ROU PRODAKSHANS EOOD HENOR EOOD BIELEKS PRODZHEKT END KONSULTING EOOD HEMERA INVEST EOOD SELDON ENTERPRISES EOOD SIBERA EOOD SOFEMA AVIATION SERVICES EOOD DELTA KAPITAL EOOD BULGANO OOD ILYUSTREYSHANS EOOD VIVA BIZNES GRUP EAD TATA ENTERPRISE EOOD ASENDING AD CAPMAN IN EOOD BULTREYD EVRO KONSULT EOOD FORS MEDIKA EOOD BOBROVI EOOD SPEEDBALL OOD C AND L SERVICES EOOD ATV-KOMERS OOD PLEJADES BULGARIA OOD INTERCULTURA CONSULT EOOD ADVOKATSKO DRUZHESTVO VULDZHEV I IRIS BILD AD SD HOLDINGS OOD VULDZHEV LAZKRIS EOOD CASTLEGATE FINANCIAL EOOD INVENTEAM EOOD TKD CONSULTINGS EOOD NIKA KONSULT GRUP OOD GALILEO VENTURES EOOD BYALA INVEST EOOD DELTA CAPITAL PARTNERS OOD ELENIC INVESTMENTS EOOD PODGOTOVKA I UPRAVLENIE NA PROGRAMI I FINANS INZHENERING ENERDZHI EAD BPC AND C EOOD PROEKTI EOOD GUDUIL KONSULTING EOOD X1 EOOD MED PRO CONSULT EOOD ENERDZHI TREYDING V EOOD ALESTEF EOOD INSIGHTAIR EUROPE OOD MDE KONSALTANTS EOOD ARCSTEEL SERVICES EOOD GEVAL - CONSULT EOOD GE AT KONSULT EOOD KONSULT ISO EOOD GETSOV AND PARTNERS CONSULTANTS EOOD KROA INTERNESHANAL EOOD BNE-GRIVE OOD I KO. KD DZZD EAR KONTAKT ELEKTRONET OOD DIGITONTHECLOUD OOD PROMATIKS EOOD RAIA KOEVA-VALKOVA ET EY DI GLOBAL EOOD PRESTIZH SOFIYA EAD RODOPA EKSPERT EOOD TEH4STIIL EOOD TALENT LINK BULGARIA EOOD OBORISHTE 5 EOOD BIMAR EOOD ENERDZHI-R2 EOOD LH CO-INVEST KDA APOLLONAS OOD WORLD CONGRESS EVENT OOD RIDZHANT GRUP OOD B2B TEAM OOD TRANS CONSUL OOD FAYRIKS OOD RESOUND EOOD DEVOBS EOOD BENNETT AD NRG INTERNATIONAL EOOD MFG BG EOOD GLUED ON EOOD ALGORITHM CONSULT EOOD DOTFLEX EOOD PB GRUP EOOD DIVELAPMANT GRUP AD LEGA CORP OOD EVKA 2 EOOD ET BULCHAV - CHAVDAR PANTEV CERAMCONSULT EOOD GLOBAL PARO PARTNERS LIMITED EOOD KD CONSULTING EOOD SEMTEH EOOD MARAGRO EOOD PRIME CONSTRUCTION EOOD OBEDINENIE EVRO PLAN DZZD TI AY INVEST EOOD INTERNESHANAL FAYNANS KONSULTING EOOD ISIS TRADE EOOD EUROLEGIS BG EOOD PIRETA EOOD AVIORA CONSULT EAD DV PR KONSULTING EOOD BPM BAUPROEKTMENIDZHMANT EOOD I KO. KD THERAPY EOOD RISUKU EOOD ESTONIKS OOD AM CONSULT & TRADE EOOD TRANSPACIFIC CERT. OOD FB CONSULT EOOD ES PI EM SI EOOD VOKA SLIVEN EOOD SEYF KAR EOOD BIO ENERGY INTERNATIONAL OOD IDEAS BULGARIA EOOD NORD METALS EOOD THOMAS AND PARTNERS EOOD INTERAS EOOD BULSATCOM-SALES EOOD MEDITERANIAN STAR OOD PRISCUS BULGARIE OOD UPRAVLENIE NA YADRENOTO ZNANIE KONSULT DEKANTER OOD BISINESS CONSULTING 2007 EOOD EOOD BDB KAMPANI OOD ALVALEYA EOOD ET LEGA - MARIANA DIMITROVA LONCH HAB PARTNARS OOD MIKADO PROPERTIES AD EUROSUCCESS CONSULT EOOD EM DZHI LODZHISTIKS EOOD ENVIROMECHANIC EOOD MERULYA EOOD HELVETSIA LAYF EOOD BV SOLYUSHANS BULGARIA EOOD WORLDWIDE INFRASTRUCTURE OOD PVV CONSULTING SERVICES EOOD EDINE EOOD SOLAR HIDROGEN BULGARIA EOOD LEGALIA EOOD OMNI GROUP EOOD ADVISORS JUST IN TIME EOOD ET SAGA 99 - SASHA GEORGIEVA INNOVATION AND DEVELOPMENT ACTIVITIES BI EM EF /BULGARIA/ OOD SUPPORT EOOD LEXMEDICA EOOD BALKAN-ADRIA TRANSPORT OOD ET OKM-ORLIN MITUSHEV ATEMKO EOOD STAR TRADING 2015 EOOD PRAXIS CONSULTING GROUP EOOD LNB TREYDING EOOD KONSORTSIUM VPVAV GD DZZD 14 SeeNews Industry Report

GIVAN 2 S R L OOD CIBOLA AGRO EOOD FINANCE PARTNER EOOD ZIMA IMPORT EXPORT EOOD WORLDWIDE SERVICES EOOD GSV CONSULT EOOD REFORM PARTNERS HOLDING EOOD MEGA BILD KONSULT EOOD LOMA EOOD TOM & ROS EOOD POLO INVESTMENTS OOD SIMOIS FINANCE EOOD DM ELECTRONICS EOOD AN 78 EOOD BIOFROG CZ EOOD KRIB EOOD TINK IT EOOD LAUREAT KAPITAL OOD FRATERNITAS SERPENTIS ET COLUMBAE EOOD KPMD CONSULT EOOD ONTAYM SOLYUSHAN GMBH- KLON BULGARIA RM QUALITY CONSULTING EOOD AVTOTRANS OOD GLOBAL GRAPHENE CORPORATION SARL KCHT UNIPERSONNELLE EOOD OMNI BLANDUS OOD D P EOOD SMART AYDIAS EOOD EUROGEST EOOD OBLASTEN SAYUZ NA ZEMEDELSKITE RIDIK-M EOOD OBEDINENIE PROEKT KONSULT DZZD KOOPERATSII - VELIKO TARNOVO BI AR MARKETING EOOD RAZLOG KONSULT EOOD LBD-KONSULT EOOD MISSING PIECE EOOD PRB EOOD TRIMADE COMPANY EOOD TOPGUUDS YURAP EOOD AGRO- MM INVEST EOOD PMD KONSULTING EOOD TACK & TMI BULGARIA EOOD OPTIMA YURIS EOOD INFOKOM AD BALEKS LTD OOD TONY CONSULT 2015 EOOD PROMEDICA24 TEAM BG EOOD MARKONY IMMIGRATION SERVICES OOD RETSE MENIDZHMANT EOOD RUSBG-INFO 2 EOOD EKIRILOVA EOOD KOLLO PLUS EOOD SMART IDEAL PROPARTI EOOD VIRTUS ADVAYZORI OOD ENERGREEN EOOD SP CONCEPT CONCULT EOOD SIY GRUP SHIPING EOOD ATLAS HOLDING OOD DUNAVPORT OOD LIDEKS INVEST OOD GYULFESHAN EOOD EKO KONSULT 2016 EOOD KONTEGO EOOD NIKE NK OOD IR-LEGAL AND FINANCIAL CONSULTING EAD SMART SOLUTIONS HUB EOOD INTERNATIONAL POLYMER FILTERS EOOD ENTEL - HOLDING AD MAZHDRAKOV CONSULT EOOD MEZHDUNARODNA ASOTSIATSIA ZA RESURS KONSULTING EOOD BMP 8 OOD KACHESTVO EOOD PHILOXENIA COLLECTIONS OOD DANOV-KONSULT EOOD DELFON VIEW CO OOD BIZNES USTOYCHIVO RAZVITIE 07 OOD PROGRES MTS EOOD MORNING BEL INVESTMANT EOOD BILDING LAB KRIEYSHAN OOD KASA.B EOOD YUNITEST EOOD R AND K ADVISORY EOOD CAR HOLD EOOD CIBOLA EOOD DIANA ILIEVA 2003 EOOD ATOR OOD ANSA EXPORT EOOD MACROS SOLUTIONS EOOD KA SOCIAL NETWORK EOOD DTSN EOOD LOKATOR EOOD CONSULTING SOLUTIONS EOOD FARA SOLUTIONS OOD SOUTH LAND ORGANIC EOOD ARTEFAKTUM EOOD MULTI LEVEL CONSULTING EOOD VARINKO EOOD LENOR EOOD ZENREYZAR EOOD TRIVIA INVEST EOOD PANDA-SOFIA EOOD MONDZHE BULGARIA EOOD TRUST OFFICE EOOD KUMANS EOOD KLANSI STEYDZH EOOD 3 D KONSULTING EOOD BRONKOS INTERNATSIONAL EOOD ALANON EOOD RUSE DEBT MENIDZHMANT OOD DANIELI 68 EOOD TD ENGINEERING EOOD VIZHAN INVESTMANT EOOD MONA OOD ADAMANTI OOD COSDEG EOOD PALECREST BULGARIA EOOD ECOVIS HOLDING GROUP BULGARIA EOOD TREYDING AKADEMI SIGNALS OOD AUTOPARTNER EOOD FTA KONSULT EOOD MAGNIT POL POINT EOOD TRADE SYNERGY EOOD COGENT CONSULTING OOD BEX INVEST EOOD PRAKSIS KONSULT OOD DEVIATOR EOOD EUROTECHCONSULT OOD B FINANCE EOOD GLOBAL DISTRIBUTING OOD AVAMED PRO EOOD DZZD GEOPLAN BOBOV DOL VOILIVOILOU EOOD LILIELI EOOD MK PROJECT CONSULT EOOD TRIMENTAL GROUP EOOD MARINE AND TOURISM CONSULTING EOOD LEKSINGTAN EOOD DND AGROCONSULT EOOD BIZNES ANGEL EOOD ECONOLER SA EOOD MGP - MEDITERRANEAN GAMING PARTNER EOOD NIMA KONSULTING EOOD PRISTA INVEST 2016 AD BIM INZHENERING RUSE EOOD EVROKONSYLT OOD THE OTHER SIDE EOOD ELENIKO KONSULT EOOD LIBER CONSULT OOD KI-KAM EOOD J AND I CONSULTING GROUP EOOD PRINCEBERK EOOD SKAYLA2014 EOOD DKA ENERGI OOD I KO. 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EVN BULGARIA EAD AY PI EL KONSULT TIYM EOOD PEYPAR KONSULTING OOD DEBRET EOOD NATALI NATALIYA PACHEMANOVA-KOSTADIN GUENTCHEV MANAGEMENT EOOD MERAKI PUBLISHING EOOD SISTEMI ZA UPRAVLENIE NA TEHNICHESKATA PACHEMANOV ET POMOSHT OOD AXEL MAVERICK EOOD ASTA 2015 EOOD DOLISHTE INVEST EOOD MARIAN ATANASOV KANSALTING EOOD ZLATEN VAVILON EOOD SMARTCONSULT 21 EOOD PRETIUM ADVISERS EOOD -3 OOD NIAL GROUP EOOD IM KRIEYSHAN EOOD KRASIMIRA EOOD NEW IDEAS AD EDDEKS KONSULT OOD ELEEN MARINE AD IMBILITI OOD INSTRO OOD KGS CONSULTING SERVICES EOOD AGENCY IMODOM EOOD MITEV I MITEV OOD SIRENA EOOD AM GLOBE RESEARCH AND ANALYSIS EOOD BALCAMS EOOD UPRAVLENIE SHUMEN 2013 DZZD MEDIC NET INTERNATIONAL EOOD DOMOSTROENE AD HARVEST IN EOOD UAIMA OOD PEOPLE SOLUTION EOOD PROFINVEST OOD SINDIKATBG1 AD AVIATION MAINTENANCE SUPPORT OOD SMARTWORKX EOOD AVIONICS HELLAS L T D EOOD ZAREV GEORGIEV AND PARTNERS OOD MICONS EOOD BIZNES, INOVATSII, PROUCHVANIYA I RAZVITIE RADOVALE EOOD T B P CONSULT OOD OOD EASY FOREX OOD EVROSAKE EOOD CHAKAROVI - 90 - SIE SD SMART ECO CITY EOOD ERINA EOOD LIYD VENCHAR OOD KONSULTSTROY EOOD ALIANS KONSULT SOFIA EOOD ASAVIA EOOD BUKET EOOD KOREKT KONSULT 2004 EOOD INTERFIN MEDIA EOOD A 1 LIMITED EOOD KREDIM EOOD TLK BULGARIA OOD BRAYT SALYUSHANS OOD BDZ-TRANSIMPEX AD LEKTRA WORKS OOD MAXENART BULGARIA OOD FIORD KONSULT OOD PARFUM CONSULT EOOD RINO BULGARIA EOOD KALAPISH OOD I END I SEVLIEVO OOD SISTEMS INTEGRATOR INZHENERING OOD PARTNEK GLOBAL - BULGARIA EOOD TU MAYNDS AHED EOOD IMMOBILIS LEGAL OOD SP AUDIT EOOD EUROPEAN PROJECT& TRAINING BG EOOD TP MONTEKS SUIS FLEX HOLD EOOD DOOR CONTROL EOOD LS AUDIO-LANSHOP EOOD AKUO BULGARIA CHB OOD ALFA COMMUNIQUE EOOD RETONA BI ES BELOVO 2017 DZZD DZHI ES FAKTOR AD STORMO BROKER EOOD G T ELECTRIC EOOD FIDEI EOOD EHOLISI EOOD EKOKOMERS 18 EOOD SAN FINANS EOOD FP INVEST AD RISARCH KONSULTANTS OOD IBS MENIDZHMANT EOOD EY SI AY INZHENERING OOD FERDIX CONSULTING COMPANY EOOD OESTERREICH GMBH OOD SYSTEM CONSULTING ENGINEERING EOOD PRAYORITI INVESTMANTS OOD KONFILMAR EOOD DIFERA OOD BS INTERNATIONAL EOOD TERAZIS EOOD TWO PARTNERS EOOD SI-SOL EOOD SICAT INTERNATIONAL OOD MEDIA - ROY EOOD VANDERLEDEN EOOD S A I CONSULTING EOOD PRESKO OOD WORLD TRAVEL CONSULTANCY OOD MAK LEGAL CONSULT OOD PIKMEDICAL INTERNATIONAL AG LEV AND KIR EOOD RENIMAR EOOD YA.V.N. 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BULGARIA BRANCH BOJANOVA EOOD INFOKONSULT K EOOD INVESTMANT END PRODZHEKT DIVELOPMANT PROJECT HAIR CONSULTING EOOD LEMA EOOD STM PROFIMED EOOD EOOD ALFA TRANS EOOD MAAT EOOD MTP FINANS EOOD HORIZON MANAGEMENT EOOD STANEX PL EOOD ALL SERVICE 2012 EOOD KELET BULGARIA AD ARENDA EOOD BUL EURO PARTNERS OOD MATURITY ASSESSMENTS BULGARIA EOOD MENIDZHMANT SOLUSHANS BULGARIA EOOD EKO-SOLARIS ENERDZHI EOOD END KO KD VIRTUALEN OFIS SOFIYA OOD 16 SeeNews Industry Report

TRANCE BALKAN DESIGN EOOD ANIVAL BUSINESS CONSULT EOOD METAL STRATIS OOD REN ENERDZHI EOOD SKIBINA INVEST EOOD SHUMAN SEDEM EOOD INVERNI AD LATOMI GRUP EOOD DPO KONSULT OOD EOS KONSALTING EOOD GRAND CONSULT INTERNATIONAL EOOD RISTEYT EOOD ADVANST TEHNIKAL MENIDZHMANT EOOD KANEKTED EOOD MS2 SARVISIS OOD ENCON ENERGY EOOD CITYCOMP INFORMA EOOD D END D KONSULT EOOD SAAB INTERNASHYONAL AKTSIEBULAG CONSULTIA BULGARIA OOD COOP MIX KOOP. 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AD DINEVI GRUP AD EVRO FINANS IVANOVI OOD ECO ANGELS OOD FYUCHARS KEPITAL AD ALEGRA CONSULT EOOD KAP INTERNATIONAL OOD ASTYANAX EOOD EUMIRROR EOOD KONSULTING BULGARIA OOD VTB CAPITAL AD GREEN WORLD GROUP OOD PROGRIYNAKT EOOD BIEM BG OOD SOFINLEX EOOD AGRO KONSULT AV OOD INFOROM CONSULTANCY SERVICES 2 EOOD STRATEDZHIK INTERNESHANAL EOOD BULSELECT SERVICES EOOD OPULENTIYA EOOD POLISTAR GRUP EAD PIXEL PLANT EOOD KDK EOOD BIZNES SUPORT EOOD WEL BUILD EOOD PEND OOD TAKTON EOOD FARA CONSULT OOD GERFAN EOOD ESKEYDI TREYD EOOD AGRO FARMING KONSULT EOOD ART LABORATORY EOOD ECERT EOOD HVH CONSULTING D EOOD INNOLEON EOOD INSOLAR AD N G M INTERNATIONAL PROJECTS EOOD CACTUS - 82 EOOD AGRONT EOOD KRISTAL KOMYUNIKEYSHANS EOOD AMADDEUS CONSULT EOOD DZZD GEOPLAN DOLNA MITROPOLIYA TIHOV KONSULT EOOD D G PARTNERS EOOD DA SHAPARDS EOOD TEAMTIME INTERNATIONAL EOOD ARH PROART EOOD ZHASIKO KONSULT EOOD COMMERCIALISTI ITALIA S.R.L OOD POLIVAS 2013 OOD DLF BULGARIA EOOD ORM KONSULT EOOD REAL ASSISTANCE EOOD KRAM MB AD EXPERTCONSULT EOOD EVEREST 2017 EOOD PDM KONSULT EOOD BEL PRO DZZD UCHEBEN TSENTAR DOVERIE EOOD HIRON 2001 OOD ZANA CONSULTING 28 EOOD M PISARSKI DZZD DODIMEKS EOOD KROSSROADS BULGARIA EOOD BRIN EOOD LA FIT OOD MOBIL EOOD SOLUTION FINDER EOOD CENTRE FOR SPATIAL RESEARCH EOOD YULI TONKIN EOOD RUSH-KONSULT EOOD GIZDAKOFF EOOD YU ES EY IMIGRATSIYA KARENEVA EOOD DOHO OOD TARA DEVI EOOD KAVA OFFICE & BUSINESS SOLUTIONS OOD SCS FRANCHISE AD IBORIS OOD AR VI GRUP EOOD DAVID HEATH EUROPE OOD AVTORETSIKLIRANE BULGARIA AD N V COMPANY EOOD ET FIT KONSULTING - STEFAN VASILEV FINANSIER DYO L ARK DENMART 2012 EOOD BLOCKCHAIN EOOD FIFTY5 OOD ARES DIFENS EOOD REG KONSULT EOOD BUL PARTNERS EOOD CREDIT-CONSULTING COMPANY EOOD VALAT-D EOOD N S FASHION CLUSTER AD 18 SeeNews Industry Report

CASTLE CLUB 1 OOD LAYF AS UI SIY IT OOD BUS-CONNECT EOOD SAR MANAGEMENT EOOD DATA PROTECTION ALLIANCE KRASITEKS EOOD ET RENI - IRENA STEFANOVA BYALATA KNIGA EOOD DEMIRLER KONSULTING EOOD NEVEQ CAPITAL MANAGEMENT OOD SKAYLAYN AVIEYSHAN BULGARIYA KD KD CORRECT CONSULTING GROUP OOD ENERGY TRADE CONSULT EOOD GLOBAL ECOCONSULT BG EOOD KOOPERATSIA KONSULTANTSKA KANTORA UNITER EOOD EKSPERT VT KOOP IMPALA HOLDING OOD FOREX TRENDLINE OOD EYT GRUP 90 OOD HARMONIKS OOD PAUAR PLANTS KANSALTANSI SARVISIS OOD AVGUSTINA EOOD ADVOKATSKO SADRUZHIE SOFIA OFFICES OOD GOSPODINOVI,DIMOVA I PARTNYORI RUBI TRAVEL EOOD NIRA COMMUNICATIONS EOOD PRO ADVICE EOOD VARIETY SERVICES OOD SEDMITSATA 777 EOOD VIP - KONTO OOD ARMEROS EOOD KIK 2015 EOOD EKOL S D Z EOOD ARENA-95 OOD DLD GLOBAL EOOD SEVEN CLOUDS EOOD IN MARKETING OOD GUT DECISION OOD MAX ADVERTISING EOOD BHG OOD NYU STEYDZH KONSULTING OOD DZZD PRO KONSULT TUTRAKAN EKSELANSENERZHI EOOD EUROCONSULT 2020 EOOD KTSP INTERNESHANAL BULGARIA 2000 EOOD AERARIUM OOD VEKTOR MENIDZHMANT BULGARIA EOOD MOS EOOD EUM INTERAKTIV OOD A 1 COMMUNICATIONS EOOD NOVA CONSULT 2015 EOOD DZHI-KA 1 EOOD IT SARVIS END KOMYUNIKEYSHAN EOOD EN KONSULT OOD AGROKONSULT ANESTIS EOOD C3 PLASTICS EOOD CATAPULT EOOD FISHAR BROUDGEYT EOOD ROZOV HRAST OOD INTERACTIV BULGARIA EOOD HALEKS 2009 EOOD BALAYA EOOD STUDIO ARTI EOOD PANAKVA OOD YUZER KAMPANI EOOD BIG PRODZHEKT EOOD HERMES BROK OOD VIRGO 2016 EOOD GLOBAL SARVIZ-ENERDZHI KONSULTANSI EOOD PR OSEMDESE KAM DVAYSI EOOD GLOBAL LAW EXPERTS EOOD SMART UNI EOOD MARKONSIM EOOD THERMADVICE EOOD STM COMPLECT CONSULT EOOD OLIMPIADA 12 EOOD FAKTA NOTORIA OOD BENEDICTA BRIGHT OOD OROS EOOD EN KONSULT EOOD CHAYNA MENIDZHMANT KORP. 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MIKE G AND SONS EOOD STAR CAPITAL BG EOOD ODESOS CONSULT EOOD CLOUDBUSTER EOOD KOUCH END GOU EOOD MARTINA EOOD EVROMONITORING EOOD DANTEO OOD EX DEBT AD UNIKORN KONSULTING EOOD PHARMASWISS EOOD ALPHA LEGA EOOD MAX ART STUDIO - EOOD PENCHEVA LIYGAL OFIS OOD VALENTI 64 EOOD SEKYURITI KONSULT EOOD GLOBAL TRADING COMPANY EOOD LILDA L EAD ROBUL BULGARIA EOOD PROFINANS KONSULT OOD POPPYS OOD DZHI BI DZHI INZHENERING EOOD PRIORITI ENERDZHI GRUP OOD SURGE MENTORING LAB EOOD SI KONSULT EOOD KOMYUNIKEYSHANS INVESTMANT GRUP EOOD AURORA CONSOLIDATED EOOD DZZD PROKONS PUL INOVEISHAN EOOD LIDER CLM OPLTD EOOD HERESS 2017 EOOD AGENTSIYA ZA PROFESIONALNO RAZVITIE I ADAPTATSIYA OOD DZZD OBEDINENIE K A D INNIMMO BOND OOD DZZD OBEDINENIE STRATEGMA - IVOFORM ATID VAROD OOD REMA PUL INC EAD LINITR X EOOD EFEKT FINANCE EAD STRATEDZHIK PARTNARS EOOD BLOKCHEYN-BG EOOD MTM BUSINESS LINK EOOD RVP - GROUP EOOD PRO FOOD BULGARIA EOOD INN TOURISM EOOD HOLDING SIGURNOST AD EVROBIZNES INVESTMANT EOOD KL CONSULTANTS OOD LANGMANN EOOD VE CONSULT EOOD ZALOZHNA KASHTA - SOKOL OOD LANDSTAR EOOD ITERASIS OOD ANCAS EOOD MANAGEMENT CO EAD ENRGO-PRO VARNA EAD KAPITAL KONSULT BG EOOD GLOBAL KONTEYNERS MENIDZHMANT EOOD UNBOX BULGARIA EOOD ALMA GREEN HOUSES OOD DEGREE CONSULTING EOOD SILVAR SITI EOOD KATO MONI EOOD EPILEKTOS EOOD ALTDEVS EOOD J I D TRADING EOOD GUSKY BULGARIA EOOD A KONSULTING 2012 EOOD ATIS MARKETING EOOD KOPULA KEPITAL ADVAYZARS 2015 EAD LEOTEA OOD FINKONSUL EOOD LIMAN INTERNATIONAL EOOD ARN FINANS KONSULT OOD BEL-DEPINA EOOD ART FORUM 2007 EOOD IV SOLEY EOOD PR NET EOOD EVRO STANDART KONSULT EOOD INOKAP OOD AGENTSIA ZA OTSENKA NA RISKA EOOD PAVANIDI EOOD K END K ANALISIS OOD CLUSTERBRIDGE EOOD SLENNER EOOD PI DZHEY KONSULT EOOD DELTA SOLUTIONS EOOD PROSVETA BULGARIA AD BULKY WAY EOOD LUKE TRADE EOOD KYU-EN I KO OOD LEXCONTRACT OOD EY PI AR 69 EOOD MAKSDOM OOD SIVIL KONSULT EOOD COLOR-TECH ENGINEERING EOOD WEB OOD CHANGE SPECIALISTS GROUP EOOD ECOSYSTEM V2 EOOD EM DZHI BET EOOD REPLAST EOOD BISI HOLDKO AD YU TU SI ENTARTEYNMANT EOOD LIVER ADVICE OOD ASER GRUPPE BULGARIA EOOD OPSHAN EOOD ES EM EL MENIDZHMANT ADVAYZARS EOOD BDPP EOOD KREBS MEDIYA EOOD ET MOSKO CHOKOEV KONSULT ATANAS YOVKOV 2010 EOOD KNOWING INTERNATIONAL EOOD KANALI MARKETING EOOD ENVITEK BULGARIA EOOD STAR TRAK EOOD QUALITY SOLUTION EOOD PARLUKE BULGARIA EOOD ROLAP EOOD D TEH GRUP BULGARIA OOD RPL KONSULT EOOD ENDEVER CONCULT OOD HERMES-09 EOOD ALOE VERA EOOD O BI DZHI KONSULT EOOD PLANKONSULT BOZHURISHTE DZZD VALEO FLEET MANAGEMENT EOOD BUSINESSPLAN-SDK T S FURNITURES OOD ALL IN ONE SERVICES EOOD MENTOR KONSULTING 24 EOOD EDILEDILE SRLU EOOD BLACK PEAK CONSULTING EOOD SIRIUS AIR OOD PI. 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RISK ASETS MENIDZHMANT OOD DAHAM EXECUTIVE CONSULTING OOD IMPULS 2016 EOOD DATES EOOD INDUSTRIALEN I BIZNES PARK-AYTOS AD PL INVEST OOD MDH KONSULT OOD A M - KONSULT EOOD TRADEN OOD DELARIT AD G G IMPEX BULGARIA OOD TRAST END VALYU GRUP EOOD VIZITKA MEDIA ADVISORS EOOD BIANCOROSSO INTERNATIONAL EOOD FERMA GURMAZOVO PROCONSULT AND MANAGEMENT EOOD MINIMAX SYSTEM BALKAN EOOD VBN-22 EOOD FITZHARRIS AND PRICE EOOD MULTI PROJECT - MP EOOD APPLE CONSULT OOD BEASTAR LTDEOOD EOOD BHP EOOD CREDENCE EOOD ALUPLAST EXPORT EOOD SNG-BG CONSULT EOOD TRAKOV INVEST OOD KEMET ELECTRONICS SERVICES EOOD IDIK EOOD HUNGARICUM EOOD ASTERIKS EOOD SEE KANSALTING EOOD KOLIN GROUP EOOD BI KORAL EOOD NITRO RESURS OOD NOVO NIVO EOOD BS GLOBAL KONSULTING OOD SOF SITI MENIDZHMANT EOOD ABB EOOD ALMA CONSULTING EOOD ONE NETWORK SERVICES EOOD KRIS KONSULT 72 EOOD VI EYCH INVEST KAMPANI EOOD ARIAMER EOOD AGROKAPITAL EAD SOFIA SOLAR COMPANY EOOD MEZHDUNARODEN INSTITUT ZA INOVATSII OOD EM DZHI END PARTNERS GRUP EOOD NATSIONALEN KOOPERATIVEN SAYUZ NA SAPERE AUDE OOD PRIME CONSULTING EOOD VKKCHZSEVROSTART KOOP SI EM EL EOOD IRIS KANSALTING EOOD AZIRA FOOD HOLDING EAD DI.I.I. DIDZHITAL AD RONI PROPERTIES GROUP EOOD EVRO SOFT TREYDING EOOD MILCHEVA CONSULT EOOD NIKE GRUP AD TRUCKS AND CARDS 23 EOOD MOBIL TREYD GRUP EOOD GLOBAL CONSULTING PRARTNERS EOOD ART STYLE DANIELA COMMERCE EOOD IPIDO EOOD RIDZHANT STRIYT ENTARPRAYZ EOOD MARTAL EOOD ENTERPRISE GROWTH EOOD CIUNGA STORE EOOD ANIMA KANSALTING EOOD INSULARO EAD L LAND EOOD CFU EOOD EGIS BULGARIA EAD ALFA SOLAR EOOD VERUM AD HRIMA DIVELAPMANT EOOD T & D BULGARIA EOOD SEVA 5 EOOD ETIGON EOOD CYPBUL CONSULTANCY EOOD PROVIDA OOD KATAR EARUEYSKYU SI ES SI DVT EOOD PAEONIA RUBRA EOOD BYRON DIKIS CONSULTING AND ENGINEERING DAYNAMIKS KONSULT EOOD TRADE FERT OOD EOOD ITD CONSULT EOOD RILA KONSULT EOOD TG BIZNES DIVELOPMANT EOOD SIMARIN EOOD NOVOENERZHI EOOD SPEEDY PAYMENTS EOOD COOKIES EOOD GARANT S EOOD YOMEX OOD GIA ENTARTEYMANT OOD ADAPTIVE LEARNING EOOD PARSEC ST EOOD LEDOV AND CO OOD PRO VISION CONSULT EOOD BALGARSKO UTRO EOOD M C R CONSULTING EOOD SIMEONOV I SINOVE CONSULT OOD AKTIV SEKYURITI GRUP EOOD AVIETIC OOD ELIAS & PARTNERS EOOD RENTER BG EOOD ADVANCED CONSTRUCTION TECHNOLOGY VALMA INVEST EOOD ANC EOOD EOOD EYEMSI EAR SARVISIS EOOD EAZ ENERGO AD SANGIAC GLOBAL SERVICES S R I U EOOD ZET BI EOOD CMN PROJECTS EOOD DIVA MEDIA EOOD R S COMPANY OOD SITI INFO BG EOOD KORPOREYT RENT EOOD ATON 3 OOD ABG KONSULT OOD GLOBAL RITEYL SARVISIS EOOD OMAHA VENTURES EOOD SVRAKOV INVESTMANT OOD DMS HEALTH GROUP EOOD IZ STEY KONSULTING EOOD RAEV CONSULTING EOOD INNOVATIKA EOOD SABU EOOD ZUZUMA KONSULT EOOD AUDIT ADVICE ASSOCIATES OOD MEYPAL BEAR SI I I OOD MEGAHOLD OOD PERLA SV OOD NLP INSTITUTE EOOD DIYLS KO OOD CONSULTING AND MARKETING EOOD INTERPLANT EOOD FARM FOOD EOOD ACWAMARIO EOOD SELEBRITI BULGARIA EOOD ILISA KONSULT EOOD LIFE ESSENTIAL DIRECT EOOD KOTOFEY OOD AREN-B OOD GUS MARKETING & CONSULTING EOOD DSB-LEATHER EOOD PI EM AY INVESTMENT OOD FARMHOLD AD EVROSTART 2008 EOOD SIP 2000 OOD OAKHIL SOFTUER SOLYUSHANS EOOD KREDO 21 EOOD MOVE EXPERT BULGARIA EOOD FAST N TREE VENTURES EOOD AMPLIFY ANALYTIX EOOD ARNEL TRADING OOD PETROV I PARTNYORI EOOD LEX FINANCECONSULT OOD DI I BI - KONSULTING GRUP OOD HILL BULGARIA GREECE CUPRUS EOOD ET BORISLAV PETROV SIONIA EOOD BON ART KREA EOOD STRATEGIZE CONSULTING OOD VAYA VILIDZH EOOD SOFIA CONSULTING OOD KOVACHEV EOOD NOA DEVELOPMENT EOOD MOVE ON EOOD VOLUTION TECHNOLOGY EOOD IFM CONSULT EOOD PERUN KONSULT EOOD OMNIKA AD TEMPAL SIMMANDS EOOD TIP TRADE EOOD KNOWLEDGE CENTER EOOD TITAN INVESTMANT EAD EUROTON CONSULTING OOD SDK - GRUP OOD PS CONSULTING EOOD DYNAMIC SOLUTION GB OOD CASTLE EOOD HOCHBAU PLANEN UND BERATEN EOOD ET VIATURS - ROSEN KIRILOV CALLIN BRIDGE CONSULT EOOD BOLKAN INVESTMENT GROUP-B.I.G. 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CEE REALTY BULGARIA EOOD SAPORT AY DZHI OOD ENICOMP BULGARIA OOD MSM-TRADE OOD FINTRAST BULGARIA OOD ARGUS IMOTI AD ATRIA 2000 EOOD BULL TRADE OOD RP CONSULTING AND CO EOOD SPRO OOD AN SERVICE EOOD HSB CONSULT EOOD DRIYMS 1221 EOOD ELANA INVESTMENT AD SIRIKS EOOD VIZIYA 21 OOD PI ES BI KONSULTING EOOD BEST KUOLITI MENIDZHMANT OOD RISING STAR ASSISTANCE EOOD SIVIL ASETS EOOD EM VAS KORP EOOD HEPI KLASTER DZZD VINI 2004 OOD GEREYRA EOOD SET PROFPROEKT ENERDZHI INVEST DZZD HUMAN CONSULT EOOD PRESIDI SP EOOD DZZD GLOBUS ABV IVESTMANT EOOD RONKONE MENADZHMENT EOOD EKROS INTERNATIONAL EOOD TREFO BULGARIA EOOD ABAGAR PRODZHEKT EOOD PMFACTORY EOOD P M SYSTEMS EOOD DALIS EOOD FARMIN 29 EOOD IKONUS IKONOMICHESKI KONSULTATSII I SIMONA I ALEKS EOOD USLUGI EOOD NAVASS EOOD EKSPANSIV OOD PLAZA OOD AERARIUM 3 EOOD THE I - MIND EOOD FLUIDEL AD R PRO EOOD BULMEDIKS EOOD HAWK FUND MANAGEMENT AD DZZD VILEKS KONSULT NEWTREND AGENCY EOOD SNEZHNA SIGURNOST EOOD ESG CONSULTANTS EOOD CHI ES PI GRUP EOOD AR EL KEY KONSULTING OOD RESTA SERVICE AND MANAGEMENT OOD LTA CONSULTING OOD R G KONSULTING OOD TRUDOVO PROIZVODITELNA KOOPERATSIA H T C BULGARIA EOOD MLADA SILA KOOP BESST DRINKS EOOD DELSTROY INZHENERING EOOD COGIS EOOD AP KONSULT GRUP EOOD PROTEAM CONSULT EOOD DZHI EM TREYDING EOOD BULEXPORT CONSULT EOOD BIZNES DIVELAPMANT ADVAYZARS OOD TSENTAR ZA OBSHTESTVENI PORACHKI, PROEKTI KREDO INSTITUT EOOD I ANALIZI EOOD DRIYM DENT KONSULT EOOD NIATEX EOOD REZON PETROV 90 OOD NOBLES UAYN EOOD CRS INTERNATIONAL EOOD ENOLOGIYA DT EOOD ZAY-1 OOD NLP CENTER EOOD IRS 2 EOOD AEK GROUP MARITIME OOD GEBO KONSULTING EOOD VE IVET EOOD VT INVESTMENTS EOOD SUN ERGO OOD INTRATRADE CONSULTING EOOD RADOYNOVSKI & PARTNERS OOD MAGAZINI MOYATA BAKALIA EOOD IYZI BUL TREYD EOOD DIEL - 2008 OOD HARI S KONSULT 8 EOOD LIPO EOOD ROYAL TOUR 2006 OOD ACTIVE PROJECT OOD KONSULT D EOOD HOTEL MANAGEMENT CONSULT OOD MEDIA MARKETING PRO EOOD 6ESS EOOD FORTON CONSULTING EOOD SUNBOCA EOOD SI EM SI PROPARTIS EOOD UNITRADE SERVICE INTERNATIONAL EOOD BOVANI 32 EOOD CAT CONSULTING OOD ROKIT DIGITAL EOOD AGROVITA OOD MLC INTERNATIONAL CONSULTING GROUP OOD MEGAMAT GROUP EOOD BULAGRIKA OOD CFD EVOLUTION EOOD EXTREME CONSULTING EOOD ELMASH TRANS EOOD BUSINESS AND TECHNOLOGY INNOVATIONS WILLOW CONSULTING EOOD EOOD AY TI AY PROPARTIS EOOD SERVICE KONSULT SP EOOD DOBREVA KONSULT EOOD RIGEL TRADING EOOD SEVER ZAPAD KONSULT EOOD PROMAX OOD BIOGARIA EOOD PROM-NEFT EOOD FASHION AGENCY OOD FRANCH EOOD GAMBIT STUDIO EOOD CSB EOOD BETA LEX CONSULT EOOD EUROINKONSULT BULGARIA OOD M AND E FACTORY OOD FRECH IDEAS EOOD TUF KONSULT OOD INFO - KONSULT - SLIVEN EOOD DAPHNA GROUP OOD NEON-2013 OOD INTELASSIST OOD MS - IBIS BULGARIA EOOD B CONSULTING 2012 EOOD VVV CONSULTING EOOD STEMO 2 EOOD PRIORITY CONSULTING OOD ALEF AND CO EOOD PORTFOLIO PRODZHEKT MENIDZHMANT EOOD HELIOS TEHNOLODZHI LIMITED - GLOBAL TRAVEL KONSULT EOOD DZHI EM MASTERS OOD VELIKOBRITANIYA YONET EOOD PRO KOLEKT SOFIA OOD NOV DOM EN EOOD STRIMON - CLUB EAD BURGAS CONSTRUCTION OOD EM TAYM IVAN MITEV ET TP EL KORTE INGLES S.A. 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OOD PRIVA EOOD MD ADVAYZARS EOOD POL AGRAR GRUP EOOD JURTUNA ENERGY EOOD FOSLO FASANING SISTEMS GMBH G GLOBAL MARKETING EOOD RAINBOW INVESTMENT EOOD AK KOMERS EOOD VINOSTUDIO OOD TRADE & INVEST EOOD ACTUARYS EOOD CHINSIA KASA EOOD DIMAR-KELI EOOD ARB CAPITAL AD PRECISE EOOD 2I EOOD BALKAN UIND BG OOD KASADE EOOD WINERY TRADING EOOD PLANET CAKES PATISSERIE OOD MARKETING HD EOOD YANKULOVSKI CONSULT EOOD A E CHI INZHENERING OOD KORPORATIVNI BIZNES KONSULTATSII EOOD IB-KONSULT1 OOD IMMERSIVE EOOD BULAGRO GROUP HOLDING EAD IMOTI I INVESTITSII 2015 OOD BDK EOOD MAKSTON GRUP EOOD DIA INSAYT KONSULT EOOD GLOBE HOLDINGS BULGARIA EAD YAT - ORGANIZATSIONNO KONSULTIRANE EOOD NEW PROPERTY VISION OOD EVRO TOP PROEKT EOOD MEZHDUNARODNA BIZNES-SHKOLA ET ICHKO - VELICHKO VELICHKOV C & C COMPANY EOOD TRANSBIZNES -E EOOD NELI BROKARS 74 EOOD AGRO GROUP BULGARIA EOOD TERRAZAS MEDIA EOOD J ACTIVE EOOD ZIG ZAG INVEST EOOD MENIDZHMENT INVESTMENT GRUP AD PL KONSULT OOD EFT KONSULTING EOOD GO MET EOOD SOFIYA FAYNENS AD CROSS BORDER EOOD ASTRECO HOLDING EAD SERDIKA 21 EOOD KALDES CONSULT OOD FORCE BUILDING INVESTMENT EOOD VEJEN - KOZNITCA OOD PV KONSULTING OOD SERVIZKO OOD TERZZO SOLTECH EOOD VITAL BUFFALO EOOD M I T H EOOD ORAMA 88 OOD RETONA - MOSTI 2016 INFOSDEF-CONSULTING EOOD GDPR MANAGER OOD PLANET SHIPPING ENTERTAINMENT EOOD BONDS ADVAYZERS EOOD KARGAS ENERGY OOD ENERDZHI FINANS AD IN ARTMEDIA OOD EVOLUTA EOOD MOTIVISTA EOOD ADVANCE SERVICE GROUP EOOD TAMINO EOOD MB ASIST GMBX EOOD ALWIT EOOD NEO INVESTMENTS EOOD S.P.O. INTERNESHANAL IVENTS EOOD PETROL ASET MANAGEMENT EOOD ELIX ALEX EOOD STORKO GLOBAL EOOD DZHASPAR BULGARIA AD IT AV DEVELOPMENT OOD INTEYA 2010 EOOD ENERGY CONSULT BULGARIA EOOD A CONSULTING EOOD BETECO S R L EOOD FRANELI CONSULT EOOD SKOK - C EOOD SHEF S BURGER OOD LOHRFARE SUBSIDIARY OOD PEE EOOD IZAVAL AD 22 SeeNews Industry Report

INSTITUTE FOR PROGRAMS AND PROJECTS RIAL ENERDZHI MENIDZHMANT END AGROBIZ BULGARIA EOOD PROPARTI VIZHAN EOOD MANAGEMENT OOD KANSALTING EOOD DREAM HILLS 2018 EOOD INOCOTECH OOD EM AY BI INTERNESHANAL KONSALTING VEBUL INVESTMENT EOOD DINAMIKA CONSULTING OOD DEYTA PROTEKSHAN KONSULT AY SI EOOD KOMPANI EOOD DOMINIKO EOOD MIND COACH EOOD CENTRAL CONSULTING COMPANY EOOD BBCKM-ORA EOOD METLIFE SERVICES EOOD MKB BIZZ SAPORT EOOD VELIKITE EOOD PANIVALBG EOOD FARST KONSULT KAMPANI EOOD DZZD BIZNESKONSULT POWER LAB PRO OOD VAYRIM OOD AKSIS KONSULTING OOD STALER BG EOOD ITAP EOOD POPULYARNA KASA - 95 AD DEAM EOOD MASKARI OOD THEODORE INTER-REP EOOD T.B.F. EOOD TURIG-SPORT-KONSTANTIN BOZOV ET ZODIAK KONSULT EOOD HEALTH INTERNATIONAL COMPANY EOOD MEMOTION EOOD ADVANCED MARINE SERVICES EOOD DALIYA KAPITAL EOOD HEMUS KONSULT BG EOOD RIDGECAP ADVISERS EOOD TORTOLANOVA OOD INTELECT CONSULT PLUS - CM EOOD PONTILEKS EOOD ES DZHI DIVELAPMANT EAD DASTROY 2008 OOD DABAL D EOOD ET RIBEL - IVANKA ROMANOVA PI PI END AR EM KONSULT EOOD BEKAT GRUP EOOD VIACONSULT EOOD INSPAYAR MENIDZHMANT EOOD DECOMA INTERNATIONAL EOOD GLOBAL QUALITY EOOD R I K VELICHKOV OOD BRAVO PROJECTS OOD NIKOLOVA CONSULTING EOOD PARALAX LIFE SCIENCES AD ET VALENTIN GEORGIEV - TARGOVSKA POLIKSENI EOOD PINICOLTD EOOD PROJECT A EOOD KOMPANIYA ZORAS SALYUSHANS EOOD SKANDINAVIAN KONSULTING EOOD DATA FORCE EOOD OLS3M OOD DATA PROTEKT OFIS OOD IMPRESAYN EOOD YUROPIAN RESTORANT ASOSIEYSHAN OOD CROSSIT EOOD IVIEM - 70 EOOD DZHI AR DZHI ROUING SARVISIS EOOD IONION CONSULTING GROUP EOOD EXPERT 3 EOOD LODOS LINGVA EOOD XERMES BILDING 12 EOOD INTEGRATED TECHNOLOGY AND SOLUTIONS RISK INZHENERING GEOKONSULT DZZD FRANK STRATEGICS OOD ADLON DISCONT OOD EOOD YOVAL-KO 2001 OOD RIVAS OOD CSC EOOD O EN EY TREYDING EOOD PASS DESIGN EOOD INTERNATIONAL CONSULTING AND INVESTMENT DZHI END PI EVROKONSULT EOOD GLOBAL PROTEKSHAN SARVISIS EOOD GEOSER EOOD COMPANY EOOD ET LYUBOMIR KOSTOV - SS KANBAN OOD REGIONALEN IZSLEDOVATELSKI INSTITUT EOOD TIMES TRANSLATION COMPANY EOOD BALGERIAN ENTARPRAYZ KANSALTANTS EOOD ET LOZEN - GEORGI GEORGIEV ZERA TRANS EOOD FABIANA EOOD PROPERTY VENTURES EOOD EKVATOR ENERDZHI BULGARIA EOOD INNIMMO ENTERTAINMENT EAD EVROLANS EOOD DMP SOLUTIONS OOD KRALIS BG EOOD BULRUSKONSULT EOOD NIKOL-2000 EOOD MEDINEKS EOOD KAMERAN ELB EOOD JA JA SERVICES EOOD ADAMS KONSULT DZZD EVERYDAY BAR EOOD KRATA 2017 EOOD DALEKSKO EOOD IT UEB AD E N E KANSALTING EOOD FOUDRE SRL OOD MAKENROU GROUP EOOD BENARD INVESTMENTS - SOFIA 2018 EOOD KEY EM PROPARTIS AD PRIMA PARTNARS OOD DZHIYNSUOSH KONSULTING EOOD IL KONSULT EOOD PREMIUMSPACE EOOD HUMAN FACTORS INSTITUTE OOD VAIS - MN - HRISTOV I SIE SD FORUM PRODAKSHAN EOOD ISS GROUP EOOD ANEL DZHENERAL OOD PROGRESIV BG EOOD DELTA IDEYA EOOD MCN CONSULT GROUP EOOD LUME EOOD FIVE R EOOD STEMAR CONSULTING EOOD FI CONSULT OOD RACIO INVEST EOOD KEPITAL GRUP 5 OOD GRAMMKO OOD BOYAR INVEST EOOD EUROPEAN TRADING AND CONSULTING EOOD AB INITSIO EOOD ONLINE GAMING SOLUTIONS EOOD MAGIORI EOOD STEFOKONSULT EOOD ARISTOTEL-A OOD MARIANOPOL EOOD ENVEKO BG OOD HALKA EOOD MP KONTSEPT EOOD ART PRO 2020 EOOD ZOHAR INTERNESHANAL SARVISIZ EOOD DZZD TUENTI UAN DVS CONSULT OOD TRIMAR EOOD KALERIN GRUP SARVISIZ EOOD ET TSENTAR ZA PSIHOLOGICHNI KONSULTATSII, VRS OOD MONEO CONSULTING D EOOD OBUCHENIE I RAZVITIE - VALENTINA UZUNOVA UOTAR PRODZHEKTS OOD DEGERMAN CONSULTING EOOD AN-VI-BG EAD EKSPERT TRAVEL EOOD BLU RIVAR KONSULT EOOD GAMA INGENERING GROUP EOOD AGRO EKO BIO EOOD FKB KONSULT EOOD FINANCO EAD OPTIN EOOD ENERGY SOLUTION EOOD THE COMPANY EOOD LOCON EOOD IZPITVANE NA ELEKTROTEHNICHESKA BIZNES KONSULTING EOOD SOLA CONSULTING EOOD EMPATIA BULGARIA OOD PRODUKTSIYA AD VI PLYUS INTERNESHANAL EOOD MLP CONSULT EOOD A M B CONSULTING OOD SANTORINI PROPERTIES CO. EAD KUADRO SINERDZHI EOOD EF DZHI INTERNESHANAL OOD SELDOR EOOD REMLAK EOOD M AND J PROJECT MANAGEMENT EOOD INTEGRAL KONSULT EOOD VINGT 2 OOD VA-NI TRADE EOOD AVIK 2004 EOOD EXCIS MANAGEMENT SERVICES EOOD MY OFFICE EOOD ET GEA - PETYA KOLEVA AURIKA EOOD SL SERVICE EOOD IVOLVAR OOD KMDV CONSULTING INTERNATIONAL EOOD EU CONSULT OOD STROYMONTAZH VARNA EOOD RC CONSULT EOOD OSTERIYA VENETA OOD TRAKS INVEST EOOD SUPRAS EOOD KRATA 2016 EOOD NEWCOTEL TRADING EOOD HILD BULGARIA EOOD PROFIT LINE EOOD ARGO INVESTMENT EOOD NIZO KONSULTING EOOD DIVAYN VIZHAN EOOD A&K TECHNOLOGIES EOOD NG BUSINESS CONSULTING OOD VLADIMIR CONSULT GROUP EOOD VISKONSULT EOOD ''EDALSIARI '' S R L UNIPERSONALE EOOD LEGE ARTIST KONSULTING EOOD LVD OIL EOOD HIDROMARIN AD EXPERIENCE ECONOMY CONSULTING EOOD AVANT-POSTE EOOD INCEPTUM CONSULTING EOOD BALGARSKA KONSULTANTSKA GRUPA AD ATLANTE EOOD KONSORTSIUM LA EKSPRES ERGOBULK EOOD CONSULT 2018 EOOD BITCOIN SOLUTIONS EOOD PROPAGANDA ZONE OOD INTERPROJECT CONSULT EOOD DAR FINANCE EOOD OLIAVI GRUP EOOD AR CONSULT OOD FAIR CONSULTACY COMPANY EOOD SPARKAL GRUP EOOD JGR EOOD EVROINS INSHURANS GRUP AD DOCEO EOOD FINCONSULT ET KENA GRUP OOD CORPORATE SECRETARIES OOD ASG COLLECTION OOD SIKOS UC EOOD CT POTATO OOD BPMNG AGRO EOOD FIN ESTEYT EOOD W IN S.P.A. AD BOVA 2000 EOOD PARSANAL SARVISIZ KONSULTING YURAP EOOD ANYBIS GRYP EOOD KYU EM ES-KONSULTING EOOD FS INVEST GROUP EOOD RIPSO EOOD CLARIMA INTERNATIONAL EOOD VITALMED CONSULT EOOD INVESTECINFORM EOOD QUALITY EXPERTS EOOD KATALIST GLOBAL SALYUSHANS EOOD INTELADVISERS EOOD WIFI - BULGARIA EOOD ATRAKTIV PROPARTIS AD PLAM KOUCHING EOOD MARK INTERNESHANAL HOLDING OOD 23 SeeNews Industry Report

BI DZHI KONSULT EOOD VENNIKO - 1 EOOD VAYZEKS INVESTMENTS OOD BETREUUNG EOOD K TECHNOLOGIES EOOD INFRAKEAR PI TI VI DZZD VM GROUP VARNA OOD VAYOS ATANASIOS OOD TARANTINO INVEST EOOD YUNAYTED KONSULTING EAD VINARSKA IZBA-RAYNOV I SINOVE EOOD PRONI EOOD DAB CONSULTING EOOD IVANOVI AGRO OOD SCHETOVODNO PRAVEN SVYAT OOD INTELEGIS CONSULT EOOD ALPHA ENERGY 08 EOOD SALES STRATEGY CONSULTING EOOD VYAND OOD TONUS 21 EOOD MODEST KRUM EOOD ASME AD MAY BULGARIA KONSULTING EOOD BARIN PROJECT EOOD TSVETA - 2016 EOOD CTEAM OOD AVANGARD I EOOD INTELEKT LINGVISTIKS EOOD ELRAN EOOD SKYFALL INVESTMENT EOOD STOYANOV I STOYANOV INVESTMANTS EOOD RAZ CONSULT EOOD K PRO CONSULT EOOD GLOBAL MINERAL SHIPPING L T D EOOD ADVANST MENIDZHMANT SALYUSHANS EOOD GENKOV GRUP EOOD DS KONSULT DZZD KASHTA ZA INOVATSIONNI TEHNOLOGII I ARCELAND MANAGEMENT OOD LONTERA STROY EOOD SOFTUER OMEGA EOOD DEMILA 1 EOOD ARCELAND DEVELOPMENT OOD MEDIKINVEST EOOD FBS-FINANCIAL BUSINESS SERVICE EOOD VIKOS TREYD EOOD IDEA BG EOOD EURO INVEST CONSULT DELEVA EOOD TBP EOOD CHRISTO BALINOW EOOD BALKAN BROADCASTING EAD MMG CONSULTING EOOD MASQUENADA EOOD K ANGUELOVA-CONSULT EOOD KTR KEPITAL ADVAYZARS OOD SUNMEN - M OOD INNIMMO ADVISORS EOOD PLEVEN AGRO KONSULT EOOD EMERSON PROTSES MENIDZHMANT RUMANIA KAI MANAGEMENT EOOD REKS INVESTMANT EOOD SRL ET A KONSULT ZHELKA ZASHEVA TINA V OOD ARRIVA BG EAD TP AISHA BRS SOFIA EOOD EFEKTIV TELANT SALYUSHANS EOOD SIVIN KONSULT EOOD SANFLAUAR 7 EOOD TANGO TRANS 1 EOOD MOSAIC TRAINING EOOD SERTIFAR EOOD VENCHAR KONSULT EOOD ENTION EOOD KAMI 2008 EOOD EDUCATIONAL MANAGEMENT AND NOVEM EOOD PD HOLDINGS AD FIVE SENSE OOD CONSULTANCIES EOOD START 999 EOOD IMEROS OOD BEDOR EXCEM EOOD KLARVIS EOOD EYT KORPOREYT EOOD MY STAFF OOD ES PI DI SERT EOOD INNOVATION SKY SPLTD EOOD LEGAFACT EOOD LARIOR EOOD DZZD GRAVITI KONSULTING-SI END BI MEBEL ZONE OOD DEVELOPMENT AND ORGANIZATION EOOD ENERDZHIKONSULT CHIRON INTERNATIONAL EOOD GRIYN MEN KEPITAL EOOD DEYA KONSULT EOOD ISIDEA SP. 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EOOD A C R HOTEL EKSPERTS EOOD STARTUPERFOLG EOOD GHONOS BUSINESS SOLUTIONS OOD EURO CONSULTING INT OOD ASEKE EOOD BVB ENGINEERING EOOD DZZD S I A MIRONOVI EVROKONSULT DZZD MIDIEL BALKANI OOD EVN GORNA ARDA DIVELAPMANT EOOD STES INTERNATIONAL EOOD NYU ADVANST ADVAYZARS EOOD GOU 4 EOOD STROITELSTVO - DIZAIN EOOD 1HUB EOOD ADVANCED BUSINESS CONSULTING OOD PLANECON S& P EOOD TUISTED LUUP OOD ORSOCLAUD EOOD IZOLKO EOOD BSS GLOBAL MANAGEMENT CONSULTANCY K N L OOD FORLEXA OOD GLOBAL DIGITAL SOLUTIONS EOOD EOOD ZFK KONSULT EOOD AGRO-MM EOOD EURO AXIS EOOD PANDOM BASIS BG OOD INTER STAR EXPERTISE EOOD BPPM S EOOD SANTANA 86 AD INTER CONSOLT NOVA OOD BG EXPERTS EOOD HTS HEALTH CARE SOLUTIONS EOOD EMPHASIS BUSINESS SOLUTIONS OOD DZHI N EOOD TRANSFINANS OOD SEA ISLAND SERVICES EOOD DELAREINA EOOD INDAHA OOD DILMAR KONSULT EOOD TRANSGARD OOD ADICTUM COMMUNICATIONS EOOD VAN - GR EOOD IN CONSULT 2000 OOD BM VIZHAN EOOD ADVOKATSKO DRUZHESTVO NIKOLOVA I KOPULA KEPITAL ADVAYZARS EOOD YOAV BULGARIA EOOD ILIEV KONSULT 2010 OOD SADRUZHNITSI SMARTAN EOOD AYRAN STIYL DI UMBERTO BORTOLODZO ET - YORK FAYNENSHAL SOLYUSHAN EOOD NS INDUSTRIES EOOD EVRO LINK I KO OOD KLON BULGARIA KCHT EKSPO-KO EOOD MGT-PRO SUPPORT EOOD ADMIRAL 5886 EOOD ACADEMY FOR LEADERS OOD MARKETING SERVICES LIMITED OOD STIL INZHENERING 2000 AD NATER NATER EOOD SPEKTAR ART 2 EOOD GK 2013 EOOD UNIVERSAL BULGARIAN INVESTMENTS EAD M GLOBAL SOLUTIONS EOOD BAZILISK EOOD SCC AGRO EOOD HELLENIC MENTOR EOOD ZIRA TREYDING OOD BOVADA EOOD SALES SERVICES OOD TELELINK BULGARIA AD REALI ESTEYT EOOD OBEDINENIE PATISHTA NRTS DZZD TEAM T CONSULT EOOD HYORBIGER SARVIS UNGARIA KERESHKEDELMI EKO MARKET GRUP OOD ROSS DIVINE EOOD ESH SOLGALTATO KFT ARDES KONSULT OOD PARAPAK EOOD TSM - SEKYURITI EOOD CU PROPERTY EOOD NADZOR 2016 DZZD BALKAN GLOBAL DEVELOPMENT OOD A. VAYS GRUP EOOD KMCS EOOD ADARA ENDZHINIARING OOD AGENTSIA ZA BIZNES OTSENYAVANE EOOD CMS VENTURES EOOD IPON FINANCES EOOD TYUF REYNLAND BULGARIA EOOD 24 SeeNews Industry Report

VIKOGNITIV EOOD SERVEROUS EOOD AETS - SOFEMA OOD AMAREAL OOD VALMAR INTERNATIONAL EOOD SAPFAYAR FAYNANS OOD KREVIN EOOD LIVA MENIDZHMANT EOOD BETARPRODAKTS OOD I KO. KD DIGIBE EOOD HO RE KONSULTING EOOD RISOURCES MANAGEMENT SERVICES OOD ORION ASET MENIDZHMANT EOOD I. G. KOLEV EOOD OLIMPIK OOD SILINIUM EOOD POLIGRAND ESTEYT EOOD 3C PROJECT OOD GIVEL KONSULT EOOD ALINI EOOD VOLARO EOOD LUKOV LM EOOD SOFCARGO EOOD AGRIMART VD EOOD BULVENTURES COFFEE SHOP OOD M. P. S. 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ELEKTRONIKS OOD INTERNEKST EOOD EM SET SARVISIZ KS EOOD CITY SERVICE PRO OOD TITAN - 9 EOOD YUNIVARSAL EKSPORTS KAMPANI EOOD L.I.V. 5 EOOD PRESTIZH ART 99 EOOD KYURKCHIEVA KONSULT EOOD VOKA KONSULT OOD MT CONSULT EOOD BPM PLYUS OOD VERIPARK BULGARIA EOOD REKLAMA I KONSULTATSII EOOD DIMITROV INVEST CONSULT EOOD ANYWAY EOOD ABV TSENTAR EOOD BAIN AND COMPANY POLAND SP Z O O POLAND INFINITY TECH CONSULTING OOD DENIMA LED GROW OOD GOUGRIYN LOGISTIKS EOOD BIT SARVIZ EOOD EOOD PIRIN VIEW OOD ETROPOL EOOD EUROPA EOOD KRISTEKO EOOD SILIA KONSULT EOOD CHETIRI OOD STRATCONS EOOD ZANA CONSULTING EOOD GETONI PARTNERS EOOD MENEX EOOD LEBERMUTH EU EOOD MARKET EKSPARTS EOOD PRESTIGE GLOBAL TRADING INC EOOD ADUT IST YUROP EOOD THINK TEAM EOOD BRENTON CONSULT OOD BELEZHNIK EOOD PROAKTIV-BKO OCEANUS OOD VERVATS CONSULT EOOD BLUE KNX OOD DAMEKS PETROL TREYDING OOD VAMOS AD MED LIFE ASSISTANCE COMPANY EOOD DZHI END DI KONSULTING OOD PDA MANUFAKTURING BG OOD PROTUR BULGARIA EOOD DZZD BENCHMARK - FASILITI MAVEN EOOD SOFIYA-IMOT-PROEKT EOOD BULGERIAN VYU EOOD EMILY KONSULT EOOD CAR - VIDAL EOOD VI EF KONSULT EOOD BEST CONSULTANTS EOOD STOYKOV CONSULT EOOD RK-CONSULT EOOD ALVEKO PROPARTIS EOOD S TRADING EOOD SINERGIYA 2000 EOOD P G 997 EOOD GOLD AGRO - 2005 OOD KARLIS EOOD MIRA CONSULT - OFIS OBORISHTE EOOD SAMITRON OOD PR AND HR AGENCY- ALDOR EOOD GRUP 5D EOOD EOOD EDVIZ EOOD ADVIZIA EOOD PWR TRADE CO. SLTD EOOD TERRA RIKKA KONSULT EOOD ZLATNATA TSARITSA AD FINCON 2000 OOD EVRO AKTUM EOOD AEKS AD A C INTERNATIONAL S R L UNIPERSONALE EOOD INTERNESHANAL BIZNES KONSALTANT BROKERS ALKOSTIL OOD EOOD NORTAN EOOD AURA KEPITAL AD DIK KONSULT EOOD VIDIVI KONSULT OOD ABV KONSULTING GROUP EOOD EMG CONSULT EOOD TOMI TODOR MILANOV ET TONER BG EOOD C S A EOOD D & A INTERNATIONAL EOOD EVRO PROEKT KOMERS EOOD DOKTOR NEDKO DIMITROV EOOD INFRAPROJECT CONSULT EOOD KIH GRUP OOD FRUIT GARDEN EU EOOD BANSKO INVESTMANT OOD ULIN I SINOVE CONSULT EOOD BBV IMPEX EOOD ENERGOEKSPORT EOOD VEST STROY OOD REVOLT 64 OOD HOTEL EXPERTS BG OOD YANCHEV I SINOVE EOOD LATERAL EOOD INFRARH OOD M + S - 97 AD MIPSIMA EOOD MERIT BULGARIA EOOD ITAPA EOOD IDEA VIZHAN EOOD ET SOLEKS-GEORGI SAPUNDZHIEV K AND Z INTERNATIONAL EOOD LEVERAGE CONSULT OOD I CREATIVE OOD KS CONSULTING AND TRADE EOOD LIKOMS EOOD 25 SeeNews Industry Report

ATANASOV TRANS-EXPORT EOOD BETA SMART OOD KV KONSULT EAD AYVI TREYDING EOOD EN DZHI KAPITAL OOD OUSHAN ELTIDI EOOD PROGER BULGARIA EOOD SATORI MENIDZHMANT EOOD PUBLIC COMMUNICATION EOOD DFFD BULGARIA OOD TRADEX COUSULT EOOD PLAMEKS BULGARIA EOOD DZZD ADVOKATSKO DRUZHESTVO VAKOVA ET EMIL NENKOV -IK MARKAAL KONSULT END VINTIDZH OOD VI PI FINANS AD STOYKOVA MEDIA PLANET EOOD KONSULTANTSKA KASHTA SANYA EOOD SIB CONSULT OOD GRIYN FINANS EOOD INNOVIO CONSULTING EOOD EDGE RESEARCH EOOD DENYUB KEPITAL MENIDZHMANT BALGERIA EAD NSU CORP EOOD LIYZD LIDARSHIP KATALISIZ EOOD INTELLI - ECO EOOD VIA COMMUNICATIONS OOD SEVIKOM EOOD NEFTOYL OOD ASY 10 EOOD AURORA BOREALIS EOOD INSAT 2001 EOOD OCTO CONSULTING EOOD SITA MANAGEMENT CONSULT OOD VIOLETA DUNCHEVA ET EMPICO EOOD AKSES-BLG OOD NEW ECONOMIC SOLUTIONS EOOD E H M A EOOD ESCHATOS EOOD TAUZAND VENCHARS EOOD GTR SOLUTIONS OOD MARCONSULT 12 EOOD FIAMMA-ITALIYA EOOD GETRACO OOD AT HOUM EOOD INTERTILES G EOOD AGRINOM OOD TDB EOOD DZZD SMART KONSULTING KLASTER DOJAN FITZI EOOD BUL STROY 2018 EOOD AGROBUSINESS CONSULTING EOOD OLIMPIA 15 EOOD BAR ELO GESTION HOTELERA S L BRANCH OFFICE MILENA TONCHEVA MT16 EOOD BULGARIA KCHT MTM INZHENERING EOOD HOMES UNIQUE EOOD MT PROJECT EOOD EVROPROEKT KONSULT 2014 2020 EOOD DAK PRADAKSHAN EOOD ESTEYT INVEST EOOD M&S PROJECTS OOD KORELIA GRUP EOOD ALFA OMEGA 10 CONSULT EOOD ITALIAN FASHION TRACES EOOD M HOMES EOOD EL DZHI END KO EOOD MENIDZHMANT DIZAYN EOOD DANIELA MITEVA ET KAPITAL INVESTMANT BULGARIA EOOD PAPEROTI EOOD HORIZONTI 2 EOOD PLEVENSKI IMOTI 2000 OOD VA SILENCIA NATURAL EOOD NAFTENA INDUSTRIA SARBIANIS RIDKO 63 EOOD OKKO1 EOOD ELEVEN MANAGEMENT OOD RIGHT DECISIONS EOOD HERMES BUILDING EOOD KONEKO AGRO EOOD ELEADORA EOOD STEDI TREYDING EOOD K SARVIZ OOD RATIONAL MARKETING EOOD ORGANAYZ FINANS EOOD RALEKS KONSULTING EOOD EMIEM - CONSULT - M EOOD AY VI EN VI EOOD MARKOV KONSULT AS EOOD BURGAS EVRO KONSULT EOOD ND CONSULTING EOOD ET VALENTINA PANGELOVA - LEGA KAR LIZING EOOD HELTKEA KONSULT EOOD ATM CONSULTANTS EOOD VOYADZHAR REZORT EOOD MBV GROUP OOD S KONSALTING EOOD ABOT EOOD AERONAUTICS BG EOOD FARHI METAL OOD FAUNDERA EOOD BIOWIN PROJECT OOD LEPL OOD POLI 2003 EOOD TRAVEL AND RENT EOOD KIKLOS EOOD EL NESTO EOOD METEO BULGARIA EOOD INSHURD EDYUKEYSHAN OOD O S SERVICE EOOD SOLIS PRODZHEKT EOOD DZHETFANG EOOD LD KOMERS EOOD CTC GROUP EU EOOD COMMERCIAL VISION EOOD RUSBG-INFO BURGAS OOD DZHESTIONE LAVORI EOOD PORT I EOOD LEDERBEL EOOD PEDROTEX EOOD PAKON EOOD VENATI TRADING EOOD INFINIT BULGARIA EOOD CONSTRUCTION CONSULTANCY EXPERTS EOOD ARVEN OOD MARFEI EOOD TIYM GRUP EOOD BULLECOSYSTEMS EOOD BDIN KOMERS EOOD ULTRA KONSULTING OOD NAPCOM EOOD EVROSTART DA TRANS DZZD 100 FOXES CONSULTING EOOD HIDROSKAN INFRAPROEKT HIDROGEO DZZD KMB CONSULT EOOD INVEST BILDING GRUP EOOD BDM TRADING EOOD PLEY SISTEM AD KLASP EOOD ASPARUHOVI 21 OOD BREYNSTOR EOOD LAYAN SERVIS EOOD MIA CONCEPT EOOD PRIME INNOVATIONS EOOD AMERIKOM EOOD SN INVEST 17 EOOD CMS INTERNATIONAL EOOD RIGHT SOLUTIONS OOD MNN PARTNERS EOOD AGRO-DUNAVIYA AD MKSM KONSULTING EOOD MY TRADING FOREX EOOD BREAKOUT EOOD KOOPERATSIA SOFIA CONSULTING GROUP KOOP. DENISI CONSULT SLTD EOOD AUTOREC AD DIVA VODA OOD YONEVA EOOD STIVACOMLTD EOOD LEGION M EOOD ZEP SPORT TRADE EOOD KOSMAS KUOLITI END INSPEKSHAN TEMPO DI OPERA EOOD VEDA SERVICES EOOD SOLYUSHANS EOOD GUUD SALYUSHAN EOOD STANDART - 2002 OOD SPA ACTIVE OOD OLSEN AND PARTNERS EOOD ADVICEPRO EOOD EM DI INVEST EOOD ADANTIO OOD ARHSTUDIO 2005 EOOD INTERNATIONAL WEB SERVICE EOOD TORA CONSULT EOOD VAB CONSULTING EOOD RBA OOD STM - EVRO CONSULT OOD BLD LOZENETS AD SANI SITI EOOD INNOVATO EOOD KAPITAL FRONT EOOD TERVEL 1 EOOD RILA INTERPRO IMPLEO MANAGEMENT SERVICES EOOD AURILA EOOD TI EYCH ES PI SI BIZNES KONSYULTANSI SARVISES A.M.K.-KOMERS AD ES EM DI KONSULT OOD EOOD KOREKT KONSULT PARTNERS EOOD PITIA KONSULTING EOOD MONTENS EOOD JUST POWER EOOD G V I OOD VISTA VIESTI EOOD PAM BUZINESS SOLUTION EOOD GLOBAL TRADING COMPANY EOOD BUL KAR TREYD EOOD SYNERGY CAPITAL EOOD ELTRACOM OOD MARATA ENERGY EOOD G.LORDS OOD MEDUSA EAD EVOLV EOOD BOYTCHEV CONSULT EOOD GOLDAN KONSULTING OOD OBEDINENIE STRATEGMA PPM DZZD POLISPA EOOD HIATSINT 2007 EOOD KV GLOBAL INVEST EOOD LAYTS ULTRA OOD NEA IDEA OOD BM LEGAL EOOD LIKEYA EOOD ANTEY BULGARIA OOD MARIE BRIZARD WINE & SPIRITS BULGARIA EOOD N Z CONSULT OOD NELIKO 05 EOOD BUL EKO 2008 OOD FILAAP EOOD BIM CONSULTING OOD S P TECHNOLOGY EOOD LEIRA SOLYUSHANS EOOD GLOBAL ADVISORY GROUP EOOD NEW SCIENCE EOOD M.A.T.H. LOGIC EOOD RP KANSALTANT EOOD G M CONSULT 2015 EOOD DZZD GEOZON ECO SOLUTION OOD TARGOVSKI PROEKTI EOOD MTV KONSULTING OOD TRIUM PARTNARS OOD MISHEL 35 EOOD PI VI PET MOGILI EOOD DZHAYSVAL IMPEKS OOD DOMINIKO 22 EOOD K & P CONSULTING OOD MOVAKO OOD BRITISH CERTIFICATION CONTROL EOOD TEKA SERVIZ EOOD KORPORATIVNO UPRAVLENIE EOOD SOCIAL MELLON EOOD KRUSTEVI CONSULT EOOD ARS ASSISTANCE EOOD GLOBAL BISNES BG OOD TSENTAR ZA OBUCHENIE NA USPESHNITE KONSULTING I MEDIA BG EOOD EY BI NOMOS OOD EKSKLYUZIV STROY OOD MENIDZHARI-TSOUM OOD KRONOS MANAGEMENT EOOD KBC MEDIGUARD EOOD PROVENTIS KONSULTING EOOD AWAS OOD SMART IMIDZH OOD ELEKTROIMPEKS AD ILIEN GROUP EOOD 26 SeeNews Industry Report

DIMITROVA & P - LO EOOD PO POLEKA OOD KATE AND TESS OOD DE.SAAR TEHNOLODZHIS OOD EVROKONSULT 2014 2020 EOOD YANTRA OLD STAR EOOD SPS INVEST EAD KORA 13 EOOD VIVACORP EOOD RENTA GRUP S OOD CKB GROUP EAD B.I. KONSULTANTS EOOD ZARA AD RUSKI REGISTAR - BALGARIYA EOOD LITIS MUNDO OOD QUALITY SERVICES GROUP EOOD INTERNATIONALSOFIART IMPORT-EXPORT EOOD EURO STANDARD CERTIFICATION EOOD INTERGY EOOD THE BUSINESS INSTITUTE OOD NIKET TECHNOLOGIES EOOD MALAMOS TRANSLATIONS EOOD BUL PROPERTI OOD MALAMOS P.M. 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CONSULT AGRO -PROEKT OOD DAVIDE BULGARIA EOOD ALBA KONSULTING EOOD AMAREL BULGARIA EOOD MAXIMO MANAGEMENT EOOD SAUT MENIDZHMANT KAMPANI OOD MACHINES AND ENGINEERING EOOD HOLDING KOOPERATIVEN BIZNES AD FRANK COOPERATION OOD MARKET SPORT BULGARIA OOD FORMINVEST CONSULTING EOOD BANSKOKEM EOOD OMEGA TECH EOOD NORD HOLD AD ENERGY INVESTMENT CAPITAL EOOD BUSINESS OFFICE INVEST OOD PROJECT HOUSE EOOD IPRA - 2000 EOOD PROAKTIV KONSULTING EOOD SOMMET ADVISOR BULGARIA EOOD ZIMA KONSULT EOOD INVIZIO EOOD V T O D EOOD SVS CONSULTING EOOD LAVA MARK EOOD ALEKSANDAR-ANTONII OOD MAKTEL EOOD ERMA FINANCE INVEST OOD LANDIS HOLDING EOOD FIKS FINANS BULGARIA EOOD NANSI 01 EOOD K V K INVEST AD TECNO MULTI SERVICE EOOD EDEL - B EOOD SSS ENERDZHI EOOD LOTUS ADVISORY TEAM EOOD PROSEYF KONSULT EOOD PRAVNI USLUGI I KONSULTATSII EOOD STATUS SHOFYOR EOOD ALOPIKS 777 EOOD SMART UNI BULGARIA EOOD LV HOLDING OOD ASFA EOOD RESB EOOD COINSTAKER OOD CHARLI FILMS EOOD AFFECTTH EOOD RPS EOOD AUTOMATION CONSULTING EOOD ORBIANA EOOD FENIKS TN OOD OPTIMA PLUS 99 EOOD SAKSES MAGNIFAYAR EOOD CNA INTERNATIONAL BULGARIA EOOD M-LOGISTIK EOOD LEGACY CONSULTING EOOD GEODEN EOOD KONIG SISTEMI I TEHNOLOGII OOD ENTREA CAPITAL OOD AY-TEK STOR EOOD BIZNES PRESTIZH 7 EOOD ZEOTERM GEORGI GEORGIEV EOOD ANKONIKO EOOD GLOBAL SEED INVESTORS EOOD LINK IT OOD F I A - CONSULT OOD PGS CONSULTING EOOD VERD AGRA AD LA SOLANA SOFIA OOD KAVA KONSULT OOD KAYA OM A HUNG EOOD MODUS BULGARIA OOD H I H SALYUSHANS EOOD NIK CONSULT 2013 EOOD CLAIMHELP EOOD SITIYM ASESMANT EOOD PIVOTS EOOD ARMI CO EOOD PRIME DEVELOPMENT CONSULTING EOOD MJA 3 OOD INFINITY FERROMODUL EOOD KALIDAD DE VIDA OOD SVYAZIST EOOD KENDER SERVIS EOOD SEMPER FORTIS PUBLIC SECTOR EOOD ET ANA-KTK - KANCHO TENEV M& N CORPORATION OOD BOYAN NOVAKOV KONSULTING EOOD KOKTEMA OOD PORTOKALI EOOD 9000.BG EOOD BI.YU.ES. 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ET KRIS - MIROSLAV DILOV GOOD MOOD CONSULTING OOD EUROCONSULT-SEL OOD GRASAL- BG OOD FAST PAY BULGARIA AD BUSINESS CLASS SRLU EOOD LOYALCONSULT SERVICE EOOD KRAISTE OOD SMS SPORTS MENIDZHMANT SALYUSHAN EOOD CARIS BULGARIA EOOD VERITAS INVEST I BIZNES EOOD SOFIYA STROY AD FDF AC EAD AGISTO INFORMATICS EOOD LOYAL PROPARTIS EOOD CONSULTATIONS FOR DEVELOPMENT ESTRELLA FINANCE EOOD NTG EOOD MSY CONSULT GROUP OOD MAESTRO SERVICES LLC EOOD ADALLARD EOOD BIZNES INTEGREYTED KONSULTING OOD LRC LABOR RELATIONS CONSULTANCY SERVICES ULTIMA RATSIO EOOD EOOD GLOBAL TECHNIKAL CONSULTING EOOD POULTRI YUNAYTED KAMPANI EOOD FINEX AD JAMAIKA EAD KALIMOK BT EOOD MENIDZHMANT ODIT AND SARVISIZ EOOD NEW WAVE COMUCATION EOOD DZHI KEY SI MENIDZHMANT EOOD JC ENTERPRISE EOOD HELIOS POWER AD ET MK-KONSULT - MIROSLAVA KUNCHEVA LUXESTATE EOOD SERTIFIKATSIONEN EVROPEYSKI KONSULT EOOD KCHS EOOD PERFETO KONSULTING EOOD ORAK - ZLATEV I S-IE SD AARE TREYDING EOOD HAUSENGEL BULGARIA EOOD ZHELEV CONSULT EOOD MARSI B EOOD TARA BG EOOD F COMPANY INTERNATIONAL SERVICES EOOD PLC PROJECTS OOD AUDITORIUM EOOD HEALTH BUSINESS EOOD INFRA BILDING EOOD TRIFONOV LAW OFFICES OOD GALABOV I SADRUZHNITSI OOD DIMITROV KONSULTING EOOD FUSION INTERNATIONAL BULGARIA EOOD MIK 81 EOOD OBEDINENIE PPM SITIYM GPS CONSULT EOOD APES OOD DEMETRA-1958 EOOD EVROPROJECT OOD IDEI ZA RASTEZH KONSULT EOOD NOUVION EOOD SPL AD TP NOVOZAYMS A ES TRINITY MTV EOOD MARKETING AND PROMOTION EOOD EKO-LEND KONSULTING EOOD AB ADVISOR AND ACCOUNTING AD TOTAL KONSULT EOOD IMS MANAGEMENT EOOD LM INTERNESHANAL EOOD MAY EKSPART TIYM EOOD ECOCONSULTING SAINT VLAS EOOD ADMINCONSULT EOOD KAMRAY EOOD SHANARA EOOD NOARK EOOD MOTSART PROPARTIYS OOD DRUZHESTVO PO ZZD ASENOVGRAD EKO DZZD EQ CONSULT EOOD RS TREYDING -2014 OOD MAKSMARKETING EOOD BICA CONSULT EOOD VIP SHOP BOX EOOD KOM MA TEK EOOD KII STIAR MENIDZHMANT BULGARIA EOOD INTMARS OOD ALTO AGROCONSULTING EOOD KONSULT 2008 OOD BEST TEAM CONSULTING OOD GLOBAL CONSULT ENGINEERING OOD RAYKOMERS INZHENERING AD PPZP EOOD EURO PROCONSULT RUSE EOOD SNOWWHITE CONSULTING EOOD KILIAN INVESTMENT EOOD DEMETRA KONSULT OOD FIBREF OOD ET EVELINA GEORGIEVA VILIBRIUM EOOD KAYROS KAPITAL EOOD PMBA EOOD MERKADA KONSULT OOD SMARTA GROUP EOOD LIDL BULGARIA EOOD RA PRO KONSULT EOOD EGO INVEST GROUP GMBH & CO.KG KD MARKDETURK I KO OOD GLOBAL MARKETING BULGARIA OOD GLOBAL TRADE GROUP EOOD IGNISARV EOOD IMMOINVEST PROPERTIES EOOD GANO EXCEL BULGARIA OOD P E K A P L T D EOOD ANALITICHNO KONSULTATIVNA GRUPA - 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2009 EOOD YOUR COIN GMBH & CO KG KD KANSALTANSI SARVISIS EOOD EVROSERVIZ KONSULTING BG OOD ASSET MANAGEMENT PARTNERS EOOD DZHENERAL MEDIKAL OOD KOLIARS SAUTIYST YURAP EOOD BG LEX 11 EOOD PROEKTI INVEST KONSULT EOOD KREATIV SYUTIKAL BULGARIA EOOD D.TRUST EOOD GIBINIKS OOD EFTA SERVICES SMLLC EOOD GRADEVA EOOD ISKD EOOD MK EKSPORT-IMPORT OOD N CONSULT AND TRADE EOOD BULFAM EOOD ONESTO EOOD RIAKORP KONSULTING EOOD PR CARE EOOD INTERKIT KONSULT EOOD ALEGRA 61 EOOD LIQUIT IMAGE OOD FIDELITY GROUP OOD ET KORA-LACHEZAR NIKIFOROV TP LEVA PUMPEN I-SAFE SOLUTIONS EOOD DELTA COMMERCE EOOD NA TOCHKI EOOD BETA BOND TRADING EOOD BUSINESS FLOW OOD YOVI KONSULT OOD USTOYCHIVO RAZVITIE 2020 DZZD AVBA GROUP EOOD KERAT CONSULT GROUP EOOD ALTER EGO COMPANY EOOD RANOV TREYD EOOD KANTORA ACCORD POLUS OOD TIMSHEL PRO EOOD COMMUNICA EOOD OBEDINENI BULGARSKI IMOTI KOOP P M FINANS OOD ELPIS NOVA CONSULTING EOOD ALEKSANDRA METODIEVA - SOLAR ENERGY ET BUSINESS MANAGEMENT SOLUTIONS EOOD NEDYALKOV INVESTMENT MANAGMENT EOOD EVROPROKONSULT M EOOD EQUINOX EOOD EF ES TI EOOD B. I. SHT. EOOD KALERIN ADVAYZARI EOOD KINTAYAR BALKAN TREYDING OOD SITEX - 81 EOOD VMK SERAMENTI OOD EFT BULGARIA EAD IBC BALKAN EOOD INSTITUTE OF TRANSPORT AND AA CONSULT EOOD INSTITUT ZA STRATEGII I ANALIZI EOOD COMMUNICATIONS OOD ET VELI NEKST - ANELIYA BOCHEVA ASTA KOM EOOD VICT BG OOD STEP 154 EOOD DCM PROJECTS OOD ZETA UELT MENIDZHMANT EOOD BGLOT AD EQUINOX PARTNERS OOD BENEFAKTOR MENIDZHMANT KAMPANI EOOD 29 SeeNews Industry Report

IVALEKS - KM EOOD ROUNDSHIP OOD STRIKS KONSULT OOD VIKTORIA BG 2013 EOOD SUBREK OOD TURBILION EOOD GI MARK CONSULT EOOD SPM GROUP OOD G END P IN PROGRES OOD SORRY-DARY EOOD CORECT CONSULT MT OOD TRIPLEPRO BULGARIA OOD ADMIRAL ADVAYZARI SARVISIZ OOD PROTO VISION EOOD NOVEKSITUS KONSULTING EOOD MAK AUTO RENT EOOD DREAM LINE EOOD UILSENS EOOD VSP CONSULT EOOD FAST TRACK EOOD NASC NASTRADINOV OOD DZHI MENIDZHMANT OOD M-CONSULTING 83 EOOD MC COMMERCE EOOD BULEKS-INVEST AD SUBSTANZ GMBH EOOD ALEKSOPULOS DIMITRIOS A.T.E.K.E. - KLON INTEGRITA EOOD BULGARIA KCHT MAKIS PROSPERITY EOOD AVA PARTNERS OOD LAGUNA MANAGEMENT EOOD PUBLIFICO EOOD GREEN BIO FARM EOOD GLOBAL ASOCIADOS EOOD ODIKO - 69 OOD ISSA CONSULT EOOD OMAI TV EOOD UNICOM BALKAN EOOD INTERDOM BG EOOD AIMPRUV EOOD MATADOR PRIME TRADING DESC OOD SPARKLING 70 EOOD BN KONSULT EOOD FINANCE MANAGEMENT EOOD STRUMA BROKER EKSPERTNI OCENKI EOOD FIELD SCOPE INT EOOD PANKCHAR EOOD SIRIUS GRUP S EOOD FRESH MASTER EOOD SOFCONTROL CONSULT OOD PLAN B EOOD KMA 02 EOOD MEDZHIK MENTOR EOOD INVESTI EOOD SOFEMA AVIATION SERVICES SOFIA EOOD APRITERA OOD KING ADVARTAYZMANT EOOD AY TI EM KONSULT EOOD PEYS KONSULT EOOD IVEDA - 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A AND A PROJECT CONSUILT OOD FONDATSIYA DRUPAL BULGARIA MOTIVEYTED UARKARS EOOD VISTRA SHELF KOMPANIYS EOOD MISTRALE EOOD STAFF SOLUTIONS & SUCCESS EOOD INTERGRUP INVESTMANT AD BERNAUER BULGARIA EOOD BURANIA-2000 OOD NSC SERVICES EOOD KEMPINSKI - BULGARIA EOOD DRUZHESTVO ZA ANALIZI I KONSULTATSII DAK EOOD BULGARIA INVESTMENT GROUP OOD DECISION EOOD EXCELLENT ALLIANCE EOOD EMONA 77 EOOD OPSIS EOOD ECO-GARANT PA EOOD A.B.GEOANDASA OOD MELADI SPARK KDA NOVAT SERVICES OOD K ADVISORS EOOD TUNDZHA KONSULT EOOD MARVIKT EOOD EM DZHI AY 73 EOOD SMART SYNERGY CONSULT EOOD DIVELAPMANT INSTITUT EOOD E & E CONSULTING OOD SOLAR VENCHARS EOOD TRADE INTERNATIONAL EOOD INVESTMENT BRIDGE OOD ADORIA CONSULT EOOD KOLEV CONSULT 91 EOOD YTM MANAGEMENT EOOD ILEVAN KORPORIT SARVISIZ EOOD MMG KONSULT EOOD TED BG OOD TODOROV TRAINING DEVELOPMENT EOOD GALNED INZHINEERING EOOD FR KONSULT EOOD EYSIDZHI KONSULT EOOD RAEVA CONSULT EOOD ARIES IN EOOD DEAL N GET EOOD DIVNA - N EOOD INBICI MAGAZINE OOD SEMPRA CONSULT EOOD ET EYCH VI EYCH - HRISTO HRISTOZOV RM FINANS AD VISION PROJECT GROUP OOD MANAGEMENT CONSULTANTS EOOD P & P CONSULT OOD DZZD REGIONALEN BIZNES INKUBATOR-RILA KONSORTSIUM PPM IVALS DZZD EKOTRANZIT BULGARIA EOOD LIVE ACE GROUP OOD VENTURESKIES EOOD HOME POINT BG OOD VIRTUAL BROKER EOOD BENEFIN CAPITAL EOOD NORCH AD MIMI 92 EOOD REAL TO BULGARIA EOOD DZZD GD KONSORTSIUM GRANT TORNTON GRIYNPLAN OOD IM.PAKT KAPITAL EAD PLOVDIV ART OOD BULGARIA-GARTSIYA SITE ENERDGY OOD BEATECH EOOD ANS KONSULTING EOOD BUSINESS MODEL DESIGN EOOD VELIAGRO KONSULT EOOD TOP PRO EOOD DZZD ISI - BULGARIA DZZD UIND ENERDZHI VI INVESTMANT BULGARIA EOOD MAKKINZI END KAMPANI BULGARIA EOOD KTKONSULTING EOOD A KA EM EOOD LERTECO EOOD RICHLINE CONSULT EAD NATSIONNAL OOD NOVA KONSULTING GRUP EOOD ALFA TREYD PROPARTIS EOOD ALERION BULGARIA OOD SIPA BIOPAKEDZHING OOD INTEGRAL RISK SOLUTIONS AND SERVICES EOOD RIDJAN INVEST EOOD ANMART I KO EOOD R V LEX EOOD DZZD PROEKTUM ENERGY PRO DM EOOD STOUN GRUP OOD AYADVAYZ EOOD ARDINO PRO DZZD PP AND IT CONSULTING EOOD DI END PI PARTNERS EOOD KAPITALIKO EOOD HILTOP 34 EOOD RASTER LIMITID EOOD VARNA DEBT MENIDZHMANT OOD BERLIGRIYN KONSULT EOOD ZAKLADY FARMACEUTYCZNE POLPHARMA S A SOFT ART 11 EOOD OTVES-KONSULT EOOD SOSIETE FINANSIER DE BALKAN OOD BRANCH BULGARIA KCHT VESTIS EOOD EQ BRANDS EOOD VIKTORIYA INVEST 90 EOOD PROGRES M 2000 EAD N AND N ADVISORS EOOD M-TREID 2015 EOOD STRATEGIKA VIZHAN EOOD DIVAR EOOD TRANS GLOBAL SALYUSHANS EOOD EVROKONSULT PRODZHEKT EOOD DZZD EZHIS - IKP KNK KONSULTING EOOD EVARMOR TEHNIKAL EOOD POST KONSULT OOD IKOSISTEM EOOD TRAST END VALYU EOOD DIFARKO EOOD BORIS PARTNARS OOD TMS LINEAR GRUP EOOD ALPHA QUALITY BULGARIA EOOD VEDEA CONSULT EOOD KUKIS-KONSULT EOOD ACBG LLC EOOD VIVRE EOOD INTERNATIONAL LODGING OF BULGARIA AD INTERNATIONAL CONSULTING EOOD BEST ASSISTANCE EOOD ITALDOM OOD TSG 2010 EOOD NOROQ EOOD BULSTAR INVESTMANT AD I AND T KONSULT EOOD CORPUS ON_E OOD MNN CONSULTING EOOD EVA TRADE BG EOOD MARKETING SOLUTIONS EOOD TECHCERAMIK AD PM KONSULT 235 EOOD PARTNARS KONSULT EOOD KREDO TEHNOLODZHI OOD AUBERGINE OOD BOLGARSKIY DOM EOOD PRO FARMATSIYA VI ES PI EOOD INSAYT PRSR DZZD PROEKT 1975 EOOD KOLEFF AND PARTNERS EOOD ARKAS KAPITAL OOD DENIA 08 EOOD DELTA BIZNES SALYUSHANS OOD TAKEDA GMBH SMART - REY KONSULTING EOOD DEVI - PROEKT EOOD JOBS HUNTER EOOD ELPIS CONSULT EOOD GFK 2016 DZZD VITALIKA EOOD PLANET BULGARIA AD HAUS AF FARNICHAR EOOD SGTT SRLU. EOOD ES BI SI OOD GEODEMA KONSULT OOD BI AY PARTNER EOOD PERSONAL ASSISTANCE EOOD KANTORA NABIS EOOD ALFA VITA KOMERS EOOD SOUTHERN LATITUDE INVESTMENTS OOD DEYANIRA EOOD DOMSTROYINVEST EOOD CLEANTECH BULGARIA OOD CTW CONSULTING EOOD ET EMIL LESOV NAYDENOV KONSULTING OOD GLOW ENTERTAINMENT EOOD ZENZOUN EOOD APACHIYA NORD EOOD ADIX - X OOD LIDER - 2005 EOOD TRANSACTA EOOD SOL MELIA BALKANS EAD AQVA CONSULT KRISI-KSTZ EOOD AGROMOTO-T MARINOV EOOD ACOMB GLOBAL CORPORATION BULGARIA EOOD DI END DZHI EYCH EOOD BALKAN EXPERT HOLDING OOD SPORTS INVESTMANTS OOD ESCRIPTA EOOD ALONA GLOBAL CONSULTING LIMITED EOOD PIBS - UPRAVLENSKO KONSULTIRANE OOD STEF92 TECHNOLOGY OOD AT& P EOOD KOBEHL EOOD ALDERS INTERNATIONAL EOOD BOTTOMLINE CONSULTING EOOD NEW PRO BALKAN EOOD NYU ART POYNT EOOD KONSORTSIUM PSIHOMETRIKA DZZD ESPADEVIDA EOOD MANIVOKS EOOD PROPOSTA OOD X - POINT - MM EOOD 1965 F A S L EOOD CPA MARKETING OOD TREKS BG OOD BBC CONSULT OOD TRU INVEST EOOD VS AGRO CONSULT EOOD GLOBAL SERVICE NETWORK L T D OOD CM SERVICES OOD MY LEFKADA L T D EOOD BUZINESS AGRO CONSULT EOOD CONVEST MEDICAL EOOD KRIEYTIV BIZNES KONSULTANTS EOOD T T N TRASPORTI S R L EOOD ALFI BULGARIA EOOD DATA PROTEKSHAN SALYUSHANS OOD CALL TO ACTION EOOD FINVERA CONSULT EOOD PLAM TEAM OOD ENERGY MARKET FINANCE EOOD KONTO KOMERS KOM EOOD YUSTKONSULT OOD SANA PARK RIZORT MENIDZHMANT EOOD GLOBAL UNITED TRADE EOOD ARAKLIA EOOD LEONT EOOD MAKS KONSULT.BG OOD BM ADVAYZ EOOD PM CONTROL EAD YOMA KAIZEN EOOD RUSBG -YUG OOD VIKTORIQ 1961 EOOD LIYD STAR EOOD NOVA CONSULTING EOOD VIBAUMIKS OOD HRIDAYA OOD SP CONSULT EOOD ES EM SI EY EOOD KREA KONSULTING EOOD ILC INDUSTRIAL & INVESTMENT COMPANY EOOD AS - EVROKONSULT OOD TRANSPORTER BULGARIA EOOD 2 F - EOOD ORBELUS CONSULT EOOD REITER PARTNERS OOD GRIYN PROGRES EOOD BENET PRAYS OOD IMPERIAL-S EOOD BENZ COMPANY EOOD BUSINESSPLAN.BG EOOD MVVI CONSULT OOD BALKANIKA TRAVEL AND CONSULTING SERVICES EOOD KSANALANI EOOD 33 SeeNews Industry Report

SMAYLING KONSULT EOOD GEOMARKETING OOD ABC GLOBAL EOOD GLOBAL TAX CONSULTING EOOD DZZD KLASTER ZA RP-CHASTNO PARTNYORSTVO PUBLICON OOD OKNO V BOLGARIYU OOD GRIYN MAR EOOD V BULGARIA DN 7 EOOD VEKOLI EOOD ECORYS SOUTH EAST EUROPE EOOD VETAMI OOD FENIX GLOBAL COMPANY EOOD ADG- KONSULT EOOD AW PRIVAT CONSULT EOOD EVRO INVEST KONSULTING EOOD INTER GRUP SEKYURITI EOOD VIENTO EOOD AVALON PROPERTY OOD ET PETYA - PETYA NESHEVA AGERA FARMA AG CHASTNA AGENTSIYA ZA EVROPEYSKI PROEKTI- G T V OOD HARMONI HILS 1 AD DELOR OOD SPALK EOOD ET VK KONSULT - VALERIY KRASTEV SGS CONSULTING EOOD MANAGEMENT SERVICES CORPORATION (MSC) DOMINANT SOLYUSHAN EOOD TOTAL - KOMPYUTAR EOOD EAD VEOLIA SERVICES BULGARIA EAD ALIMENTARIUS EOOD IZDATELSTVO JIVO SLOVO EOOD BAZA ZA TEHNOLOGICHNO RAZVITIE MARITSA IVVI SOLUTION EOOD GREEN PROJEKT FACILITY MANAGEMENT EOOD IZTOK EOOD RIYCH SARVISIZ OOD MOVEBG EOOD BUMERANG X EOOD COACHTEAM EOOD IBIEX CONSULT OOD EUROPEAN CONTAKT EOOD KREA DIVELAPMANT EOOD PROPHILAKTIKA VM EOOD MC CONSULTING EOOD S - SPA 2 EOOD PROEKTSTROY TUG PERSONAL EOOD GENETIC 21 EOOD FET INTERNESHANAL SARVISIS HOLDING EOOD ESFMK EOOD BREFIX TECHNOLOGIES EOOD ER CONTROL EOOD VARNA NEWS EOOD MEC OOD VI-AN 10 EOOD LTS CONSULT 2011 OOD INTERBUSINESS LEGAL CONSULT EOOD DI ES MAKS EOOD TIKVA EOOD HP & RE BULGARIA AD DZZD REGIONALEN BIZNES INKUBATOR VIDIN EYCH AR EKSPERTS EOOD COMTRAIL CONSULTING EOOD GLOV EOOD DZHEY KEY PRODZHEKTS EOOD BEST KARS 2016 EOOD EGIS R & D EOOD ALPHA PLAN AND ASSOCIATES EOOD ALFAKOM PLYUS EOOD BALKAN TRAFO INVEST EOOD CARPENSALDA EAST EUROPE EOOD SANDERIANA CONSULTING EOOD GOLD LAANS AD KANTORA YANKOV EOOD NLP TRENING EOOD PROREAL BULGARIA EOOD PROAGRO CONSULT EOOD AGROBIOCONSULT EOOD EVMOLPIYA FYUCHARS EOOD KONSULT AB EOOD H2O CONSULTING OOD AFRIT EOOD VT SECURITY EOOD ISEA KEPITAL EOOD THE CELEBRITY BRANDS BU OOD VIDENOV INTERTRADE EOOD LINKS KANSTRAKSHAN EOOD VITLA EOOD BUL PARTNERS OOD MK CONSULT - 2012 EOOD MUZZA EOOD KONSULTANSKO BYURO ZA IKONOMICHESKO PRO ID EOOD REGIONALNO I INDUSTRIALNO RAZVITIE EOOD EMSONY OOD B I D LAYF EOOD INTERNATIONAL SERVICE CENTRE EOOD DI VAS OOD EVRO DIREKT KONSULT EOOD ANIMIS TEAM OOD SUPREME OOD SISTEMKONSULT SIKO EOOD VRJ CONSULT OOD KMKH EOOD HEALTH ANALYSIS EOOD IDEA PLUS CONSULT OOD INTER SAPLAY EOOD REGGARS EOOD GREEN FINANCE GROUP EOOD FABRIK KONSULT EOOD EKSPO ISTEYT OOD KANTORA MOMCHILOV OOD DZHI DI PI AR KONSULT EOOD SI PI EL KANSALTING OOD STANDART NORM CONSULT EOOD SYTHERAN BULGARIA EOOD UNITY GROUP OOD AUTO DISTRIBUTION BULGARIA EOOD K&H GROUP CONSULTING EOOD PROPARTI KLUB EAD QE CERT EOOD ALTAVISTA PROPARTIS BULGARIA OOD INTEGRITY PARTNERS NETWRK OOD UPRAVLENIE PROEKTI, ENERGIYA, EKOLOGIYA, MERDAD EOOD FINANSI AD NORTH-EAST CONSULT SINGLE-MEMBER LLC NEXUS PROFESSIONAL OOD EOOD NORTH INVESTMENT GROUP EOOD PR S CONSULT EOOD S END S LAYF EOOD DIMENARA BULGARIA S L EOOD BOYANA BUSINESS SERVICES EOOD MANIRA EOOD ODIT LG EOOD ET KATYA BAKIEVA EPMS EOOD KONSAL AGRO EOOD AGENTSIA ZA RAZVITIE I OBUCHENIE EOOD FESHAN IKONS EOOD ZUNA EOOD B I B PROPERTY EOOD ET GEODEN - GEORGI KORITAREV EVROSTAYL EOOD IV CONSULT 2015 EOOD FORAZ EOOD ACCELERISE OOD PLOVDIV INVEST 2010 EOOD AZ STEEL SERVICES EOOD IRIS DEVELOPMANT EU EOOD PERPERIKON CONSULT EOOD VEGA2 2014 OOD KENI KONSULTING EOOD PIRIN GOLDEN BAY EOOD COVIMEX GROUP OOD LEADER PARTNERS EOOD INNOVA EOOD HAY ACHIVARS EOOD ITERUM EOOD INTERCONS EOOD SI EM ES KAMERAN MAKKENA EOOD VALDESTA OOD S B AGROSTRATEGIES EOOD VENTURE CAPITAL CONSULT OOD M AND M ARMS OOD DZHEY VI TREYDING EOOD DPO BG OOD ATS CONSULTING EOOD ENTRADA RESAYKLING EOOD MARTREYD S.S. 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HEALTH PARTY EOOD FORZET AD MANAGEMENT BOARD OOD ET MARIKS KONSULT - MARIN TAREV INTER EKSPO KONSULT EOOD KNYAZ ADK 77 EOOD OOD DIVINDEX EOOD ENSI CONSULT EOOD BID KONSULT EOOD ET YONKA TODOROVA - YODI WIRK EOOD SERVICHIOS RUSE OOD AGENTSIA ICONOMICA EOOD ALFA BETA CONSULT EOOD AGROLAND EOOD ZERCON EOOD MAKS6 EOOD FERROFLUID STUDIO OOD JORA BG EOOD MONGOOSE 2017 EOOD VOUCHER EXCHANGE SERVICES EOOD TRAVEL MIND EOOD VLADI 74 EOOD MACONIS LLC EOOD BE CONSULT OOD KRASI-S EOOD VIEM CONSULT 63 EOOD APER OOD KMCONSULTING EOOD SOFSTOK INVEST EOOD BANGYEV''S EOOD FMT SERVICES OOD BLUE PEAK EOOD AYEYEY AUTOKSELANS EOOD BOIL BT EOOD MARTIN MYULER 73 EOOD KARA CONSULTING EOOD SSD - SUSTAINABLE SOCIAL DEVELOPMENT AV PROPARTIS EOOD BULGARIAN BUSINESS BROKERS D OOD EOOD KERAMAT-BULGARIA EOOD KI COMPANY EOOD BITUMNET EOOD DI-SOL EOOD DARAMIS P HOLDINGS BULGARIA OOD DIGITAL EXPERT EOOD LIRA INVESTMENTS S A BRANCH BULGARIA KCHT HBTU - HOLANDSKO-BALGARSKI TURISTICHESKI ES EN PROPARTIS SALYUSHANS EOOD ILIEVI KONSULT DZZD REGIONALEN SAYUZ NA ZEMEDELSKITE USLUGI EOOD KOOPERATSII TEHNICHESKA POMOSHT STOLICHNA OBSHTINA CLEVER SOLUTIONS OOD MB CONSULT OOD 2017 DZZD VJF MARKETING I CONSLTATIONS OOD EXPERT TRADING & IT EOOD NEW INTERNET SOLUTIONSAD AD DARI-NIKOL EOOD GLOBAL EVROTRAYD OOD HK CONSULTING EOOD KOLOBAR-D EOOD INFRA TETIA NIKOLAEVA DZZD AIRCRAFTS MANAGEMENT EOOD KK - GAIDARSKI I SIN EOOD FIRST CONSULTING EOOD EKSPERTEN TSENTAR PO TRUD I OSIGURYAVANE FRAYDEKSIM INVEST OOD FINLI KANVARDZH SARVISIS OOD OOD QUINTESSENCE CAPITAL AD METODIYA EVROKONSULT OOD GARTSIA BULGARIA 2015 DZZD DI DI MENIDZHMANT AD SUNNY FUTURE EOOD ZIP TREYD EOOD BLEK PIYK KEPITAL PARTNARS AD VDS BULGARIA EOOD PRODZHET KONSULT DZZD SOMNIA EOOD UI AR SMART OOD MAZARS CONSULTING EOOD CONSEPTA BP EOOD PROMETRIKS OOD EUROX PROMARK CONSULTING EOOD LA MAR LA KOMO OOD M & S INTERNATIONAL GMBH & CO. 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KB INVEST BG OOD SABANIMPEKS OOD VIHRA EOOD CH LEGA RESEARCH CONSULT EOOD IZHK KONSULT EOOD SI EY ES TREYDING OOD INTERKONTRAKT EOOD KAY KONSULT EOOD OPTIMUM POINT EOOD UNIVERSALNA KONSULTANTSKA KOMPANIYA BLD IZGREV AD MELODICA EOOD EOOD LEALES CONSULT EOOD NAGAI EOOD NEOZON KONSULTING EOOD KONSORTSIUM PERLATA NA BULGARIA DZZD EVRO INZHENERING KONSULT OOD AGENTSIYA ZA OTSENKA NA BIZNESA EOOD MOZAMBIQUE TACTICAL CONSULTING EOOD ALFA PROPERTY CONSULT LIMITED EOOD S I H EOOD CAP DEVELOPMENT EOOD RED COAST INTERNATIONAL EOOD EVROKONSULTING SANRAYS BG 17 EOOD AGRIKULTURAL KONSULTANTS EOOD MI TREYD 2014 OOD SK PRO SERVICE EOOD OMA - 2016 SP OOD MAKATO AD TENSEGRITY PROPERTY EOOD PRIMO SIGLO OOD NOVA BULGARSKA KOMPANIA EN BI SI EOOD KLW INTERNATIONAL EOOD KONSORTSIUM INOVATIVEN KAPITAL DZZD DEYTA DIDZHITAL 17 EOOD ATRIS OOD BREND IN TREND OOD DIGS-KONSULTING OOD PERFECT ART 55 EOOD HULLA & CO HUMAN DYNAMICS KG - AUSTRIA DIMITROV EOOD ZEMTECH EOOD BRANCH SOFIA KCHT NYU SAKSES EOOD EVRO BIZNES KONSULT EOOD ERA 95 EOOD CONCREDO EOOD DANI PLYUS KO EOOD PROKONSULT AND MANAGEMENT - M EOOD JONES KOPUNOVIC OOD APIMPEKS EOOD NOULIDZH DEVELOPMANT BULGARIA EOOD PINEROCK CAPITAL EOOD INNOVATIVE CONSULT EOOD NK CONSULT EOOD COUNSELOR OOD MBMOTW OOD CREACTIV PR EOOD AGRION INVEST AD ART HOLIDAY EOOD IMVENCHAR I KDA EVATON EOOD BALKANCERT EOOD BELSET EOOD EASTGRALOG EOOD TA KONSULTING EOOD AGENDA OOD ALEF INTERNATIONAL EOOD INNOTEC INTERNATIONAL AD FABI KONSULT EOOD UNIVERSAL EXPORTS INTERNATIONAL EOOD OMEGA CONSULTING SERVICES EOOD TREVAR KOMARS - BULGARIA EOOD INDUSTRIALEN PARK ELIN PELIN EAD EUDAIMONIA SOLUTIONS EOOD AGARICUS SERVICE EOOD MIRAY KONSULT EOOD BERATUNGS- UND ORGA-CONTROL (BULGARIA) ADTECK S.P.A. 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D AND D INVEST KONSULT EOOD TRADICIONAL EOOD BIA 3 S R L EOOD INTRA KONSULT EOOD FTSM LOTUS AD UELSH FAYNENSHAL EOOD IVELI KONSULT EOOD KOMPANIA ZA PROEKTIRANE I RAZVITIE EOOD ASM INTERNESHANAL EOOD NORIP EOOD BILIYV1221 EOOD ZAFORO OYL END GAZ LIMITED - KLON BULGARIA KCHT FOCUS SYSTEMS EOOD SENTRA OOD MIHAILOV ESTATE EOOD DAR CONSULTING OOD ADJEST KONSULT EOOD MIRA CONSULT EOOD RO IN EOOD MUCHO GUSTO EOOD L & P CONSULTING BULGARIA OOD FYOSTALPINE BYOLER VELDING SIYU GMBH FASILITI PLANING GRUP OOD UNIVERSAL COLLEGE EOOD BOLKAN PROPARTIS DIVELAPMANT EOOD TAB EOOD SMART MONITORING EOOD BOSSA EOOD TEM EOOD ABERON OOD GHV ADVISORY EOOD ES ES PI KONSULTING EOOD V I D INVESTMENT OOD SOFIA STROY 19 AD FX SUPRA EOOD PLANKONTSEPT OOD ACTIVE ENTERPRISE EOOD BYUTI DISTRIBYUSHAN EOOD PRIVENT OOD DELTA SECURITIES S R L EOOD KONSULTANTSKA KASHTA PETKOVA I TSANKOV ENEIDA - 21 ELTD EOOD EKOPROEKT KONSULT 2016 OOD OOD GENERAL STOCK INVESTMENT EOOD LIDERT OOD STRATEGY BUSINESS 2017 EOOD TESTA DI BOYA AD TAIR EOOD DZZD BIONFORM-PRO KRUMOVGRAD GN TRADE EOOD BIOTEK - BG AGRO OOD AMMBRA PROJEKT - BULGARIA OOD INNO CONSULT LLC EOOD RT TEK OOD DIRKONSULT - R EOOD NOUBAL STAR OOD COMPASS OOD CONSULTING CENTRE - MACHINE BUILDING DZZD EKOPLAN KONSULT EOOD GLINOHUM EOOD AVO KONSULT EOOD ET NADEZHDA 2000 - KETI BALKANOVA SISTEM TEKNOLODZHIS EOOD MM - PRODZHEKTS OOD ORIENTAL TRADING EOOD INTER CASH EOOD ET DAR - ZHORZHETA GEORGIEVA B END K TREYD KOMPANI EOOD TRANZIT BOLKAN TELEKOM OOD ET VIKONA - VIOLETA KOLEVA PRODZHEKT MENIDZHMANT KONSULT EOOD EDC SOLUTIONS EOOD 'CONSULT - 75'' EOOD SPEEDY GROUP AD BB RESEARCH & CONSULTING OOD VERDIANT EOOD PI END PI KONSEPT OOD OOD BOJANOVA 2015 EOOD RODOPI STROY 2 TRISICO EOOD STARFISH ENTERPRISE EOOD A & A CONSULTING EOOD S RIPTORIUM EOOD VIVA IVAN TRIFONOV ET IVO-DATA GMBH & CO. 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AD PROFITABILITY GROUP EOOD FRAMELESS DESING OOD VP DROPLA OOD BULGARA PROJECT & BUSINESS EOOD ATLAND ASSET MANAGEMENT AD INVESTITSIONNI FINANSOVI KONSULTANTI VLADIMIROVA CONSULTING EOOD E-TRAINING OOD ISTUORD EOOD EOOD RADMI EOOD MSA SEYFTI SP Z O O TVM BILD EOOD K P & G OOD LYANI TRANS KONSULT EOOD PROPARTI INVESTMANT EOOD LA NATYUR EOOD MEDIA SOLYUSHANS EOOD AR TI EN MARKETING EOOD AGROKOP RUSE EOOD STAPKA PO STAPKA VT EOOD EVROPEYSKI TSENTAR ZA KACHESTVO OOD C&M PARTICIPATION ALMAREKS EOOD AGROINVEST GRUP EOOD CU CONSULTING EOOD REPRESENTATION&CONSULTING OOD EVROPA KONSTRUKTSII OOD ET VESELA DIMITROVA - 67 ALUMICOR EOOD NIMFON OOD TOGA OOD KERAMICHNA KOMPANIYA OOD CIVILEX EOOD PROFPROEKT BULGARIA EOOD MVM FINANCE CONSULT EOOD FILOGAT EOOD KEG KEY EXPERTS GROUP EOOD FA ILITY MANAGEMENT CONSULTING OOD NEW ART LABEL EOOD H DG OOD SIM KONSULTING EOOD GLOBAL ENERGY EOOD KARNOBATSKO MLYKO OOD BB KANSTRAKSHAN GRUP EOOD FARGO GRUP EOOD LM ENERGY CONSULT EOOD SIMPLY SAFE EOOD SANTO GRAAL EOOD GLOBAL KONSULT SARVISIS EOOD BV CONSULTING EOOD AMG BULGARIA EOOD AA LEGAL EOOD GAIA EOOD TSB CONSULTING EOOD MULTIEUROPE S.R.L. OOD KALTI EOOD BATTERY RECYCLING EOOD EVROFAKTOR EOOD AMA EOOD GLOCALLY MI EOOD DEOMID-VARNA OOD BALKANS INZHENERING I KONSULTING EOOD ET KREZ KONSULTING - KRASIMIRA ESTI SOLARSEL TEKNOLODZHIS EOOD A START 2000 EOOD GLOBAL TRADE LINE EOOD STOYANCHEVA A BIZNES UARLD OOD MASTER KONSULTING KAMPANI OOD VI END DI KONSULTING OOD RILU ENT EOOD K END D LIMITED OOD A J TRADING CONSULT EOOD MYLON EOOD SIDO PRODZHEKTS EOOD MIDERA EOOD TSARSKO SELO EOOD WHITEFIELD FINANCE EOOD YANMARI 2009 EOOD NORTIKA EOOD ALTEM CONSULT OOD LED LIGHT EOOD MIRIAD MK OOD ET DELOKONT - PLAMEN PAVLOV F COMPANY OOD LANSING AD TIGYURING EOOD DETELINA POPOVA LAW FIRM AETERNITY VENTURES EOOD EXCLUSIVE SERVICES AD ARCHIMEDES - UDSS LLC OOD BLACK SWAN SRLU EOOD BLUE MARK EOOD GLOBAL ENERGY TRADE AD BRIGHTCAP INVESTMENT ADVISOR OOD BEST OFFARS INTERNATIONAL OOD KLIARLI KALCHAR - BULGARIA EOOD ALMA AM EOOD PEGAS KONSULT 63 EOOD MILITA 11 EOOD BUSINESS DESIGN OOD FILTERQUEEN BULGARIA EOOD SAGA GLOBAL FINACORP OOD EY DZHI BI PARTNARS OOD CITIZEN SOCIETY GROUP AD NIONY OOD ORSOSAFE EOOD VALDIMEX EOOD KOMASATSIA EOOD GLOBAL AGRI OOD RESULTIS EOOD DELTA CAPITAL INVESTMENTS OOD OPEN SPACE OOD SANRAYS HOUMS EOOD PITAR DZHEYMS OOD TEKSIM PROEKTI EOOD TEXPROMA EOOD SOFSTOK TREYD AD ET VESTA - VESELINA NEYKOVA DENIRA EM OOD TP D-LINK POLSKA BGI PR JECTS OOD PROF - INVEST CERTIFICATION INTERNATIONAL - BULGARIA (CI K.RA CONSULTING OOD EOOD FOBOS KONSULT EOOD ANGEL HOUSE EOOD BULGARIA) OOD VM EOOD PETROL FINANS EOOD IMOTI I INVESTITSII OOD KONSULT BG 2002 EOOD ET B-KOLOR - VELICHKA BOYANOVA INEIK EOOD VARNENSKO DRUZHESTVO ZA DIANA ARKOVA - ORENDA EOOD VZAIMOPOMOSHT EOOD KD INVESTMENT DECISION EOOD KISA EOOD STAS CONSULT OOD AL FAI OOD EFEKT 2006 OOD ESCROW BG EOOD STENLY AND KO CONSULT EOOD NEKOV KONSULT EOOD ANOMALY OOD DEBORA AD TRENA KONSULT EOOD KARANLAKOVA EOOD ET BIOSFERA KONSULT - KIRIL GEORGIEV LAUDIS INTERNATSIONAL EOOD COMPARISON OOD BI-RI-ZVO EOOD MONIK 2012 EOOD YUROMIHANIKI EOOD VIK CONSULTING EOOD BIOAGRO PESHTERA EOOD BIO NET SOLUTION EOOD O K CONSULTING OOD AKSIOPEA KONSULT EOOD ON TRAINING EOOD REVANSH 22 EOOD KONSULTANTSKA MREZHA FOTON EOOD NYU MENIDZHMANT OOD IVIK KONSULT EOOD J & L INTERCON EOOD KIBOO PARTNERS EOOD MEDICEXPRESS EOOD 37 SeeNews Industry Report

AYLEND AD TERDI OUTSOURCING EOOD UNIVERSE 1221 OOD EVROALTERNATIVA OOD ROSTI EOOD - EOOD TRIBUKAF EOOD BURGASKA KORABOSTROITELNITSA AD SIMBIO OOD KONSORTSIUM UIND ENERDZHI OOD CDF EUROPE OOD IKKEN NAMO OOD I SERVICES EOOD AY DI KONSULTING OOD INFOSAYT EOOD PROEKT - SYRVIZ EOOD FASTVAT BULGARIA EOOD PR PLAY OOD BESA VALEY GRUP AD SEVA AR EOOD TRIVIA LEGAL ADVICE EOOD PUMA SERVICES EOOD PROFIKON EOOD EVROPROEKTI EOOD SKYLEX EOOD RID KONSULT EOOD PEVLA 510 EOOD GESTIPLOV OOD GALAKTIKA BG EOOD NOLARGI HOLDING EOOD EY. I. KANSALTING EOOD MANDZHUKOV DIVELAPMANT OOD AGROPROJECT SM OOD MISAR INTERNESHANAL EOOD PABLIK KONSULT OOD SDRUZHENIE VELOEVOLYUTSIYA AD CONSULTING EOOD WEIRD AUTHENTIC PEOPLE EOOD PETKOV OIL 71 EOOD DYB 1 EOOD ORIOR EOOD PALADIUM KAPITAL EOOD MARXANT BULGARIA EOOD KOBROS EOOD DZHI EM TEH SALYUSHANS EOOD ES SI DZHI - DIZAYN EOOD PROFILE MENTORING SERVICES EOOD NORIMUS EOOD ET MIROSLAV MARKOV 2007 CHAIR SOURCE EOOD SMART MEDIA KONSULT EOOD EUROSPEDITION OOD BIOBODY EOOD PROEKT KONSULT 73 EOOD MGM EOOD EVROFAKTOR 2 EOOD TT CONSULTING SERVICES EOOD ADLER CONSULT EOOD TAYDS KEPITAL END MENIDZHMANT - TSM EOOD INTERA CONSULT OOD FLEKSIPRO OOD AGRO SPRED EOOD RESGRUP OOD TE HOTA SE EOOD VOLTSISTEM OOD 38 SeeNews Industry Report

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