1 Paseo de la Reforma 725 Col. Lomas de Chapultepec, Miguel Hidalgo, CP. 11000, Distrito Federal, México. Highlights 3 Independent Proteak Valuation 3 Capital Increase 4 FINSA Participation 4 MDF Development 5 Forestry Development 6 Results and Key Indicators 7 Balance Sheet Analysis 10 Cash Flow Analysis 12 Environmental and Social Development 12 Stock Development 13 Proteak Informs 14 Financial Statements 15 2 Paseo de la Reforma 725 Col. Lomas de Chapultepec, Miguel Hidalgo, CP. 11000, Distrito Federal, México. Highlights 2Q15 Proteak’s capital increase concluded with a 100% subscription and payment of the 25 million issued OPCs (Ordinary Participation Certificates or CPOs in Spanish) at a Price of MXP 15.00 per OPC. Through its participation in the capital increase, Financiera Maderera, S.A. (FINSA) acquired 5.2% of the Company. 414 Capital increased the target Price for Proteak’s OPCs placing it in a range between MXP 28.0 and MXP 31.3. Signum Research began formal coverage of Proteak, with a target price estimate of MXP 30.69 per OPC at year-end 2016. Construction of the MDF plant in Huimanguillo, Tabasco continues according to schedule. Independent Valuation of Proteak 414 Capital updated its independent valuation of Proteak, placing the value of the Company’s OPCs between MXP 28.0 and MXP 31.3 as of May 2015. The valuation takes into account both Teak plantations and their inherent long-term investment horizon, as well as the incremental value of the new MDF business line. The valuation report is currently published on Proteak’s website: http://proteak.com/index.php/en/investors/financial-information/analyst-coverage Signum Research, an independent financial and market analyst, began formal coverage of Proteak with a BUY recommendation. Signum places the 2016 year-end target price for the Company’s OPCs at MXP 30.69. The Signum Research Report is available on their website: http://www.signumresearch.com 3 Paseo de la Reforma 725 Col. Lomas de Chapultepec, Miguel Hidalgo, CP. 11000, Distrito Federal, México. Capital Increase The extraordinary Shareholders’ Meeting celebrated on March 20th declared a capital increase through the emission of 25,000,000 Ordinary Participation Certificates (OPCs) at a Price of MXP 15 per OPC. OPCs were offered for subscription to existing Proteak shareholders on April 21st at a rate of 1 (one) new OPC for every 9.73 OPCs held. The period for shareholders to exercise their preferential subscription rights ended on May 6th and unsubscribed OPCs were offered to the third parties previously designated in the Assembly. The the subscription and payment process was concluded on May 13, in line with Article 132 of the General Corporations Law and Proteak’s Bylaws. FINSA Incorporation Through its participation in the capital increase of Proteak, FINSA acquired a 5.2% share of the Company. FINSA is the largest producer and wholesaler of boards, resins, melamines and veneers, among other products, in the Iberian Peninsula. With more than 80 years of experience, it has 12 factories across Europe, 2,750 employees and annual sales of USD 1,000 million. Desde abril se encuentra ya en Huimanguillo supervisando la puesta en marcha de la planta el Director de Planeación del Proyecto de MDF, proveniente de FINSA. The participation of the Spanish Company brings invaluable technical and commercial knowledge to the MDF Project, confirming its solidity. The MDF Project Planning Director comes from FINSA and is on-site since April, supervising the plant startup process. 4 Paseo de la Reforma 725 Col. Lomas de Chapultepec, Miguel Hidalgo, CP. 11000, Distrito Federal, México. MDF Development The development of the country’s most important industrial forestry project continues according to schedule. During the quarter, foundations and platforms including those for the electrical sub-station, were completed. The assembly of machinery, including the 30m long press, started, as well as the construction of offices and the resin plant. The installation of the first turbine for energy cogeneration was also initiated. Progress was made in the interconnection duct to the Pemex pipeline system that will supply the gas turbine, Regarding marketing, Proteak continued strengthening its sales platform, prioritizing the growth of its customer base for FINSA products. This strategy allows the Company to gain knowledge of the market and be prepared for the sale of its own products when the MDF plant starts production at year-end. 5 Paseo de la Reforma 725 Col. Lomas de Chapultepec, Miguel Hidalgo, CP. 11000, Distrito Federal, México. Forestry Development The 2015-2016 planting program, which includes 2,000 hectares of new Eucalyptus plantations, moves forward in line with local precipitation. In May, Proteak received the first disbursement of the credit line authorized by Financiera Nacional de Desarrollo Agropecuario, Rural, Forestal y Pesquero (FND) for new Eucalyptus plantations that will supply the MDF plant. During the quarter, the first 486 hectares were prepared for planting. In the case of Teak, the first 113 hectares were prepared for planting once the rainy season begins. As of quarter-end, 864 hectares of Eucalyptus and 1,381 hectares of Teak have received maintenance. 6 Paseo de la Reforma 725 Col. Lomas de Chapultepec, Miguel Hidalgo, CP. 11000, Distrito Federal, México. Results and Key Indicators SUMMARY OF RESULTS AND KEY INDICATORS In '000 MXP 2Q'15 2Q'14 T vs T YTD 2015 YTD 2014 YoY Teak Sales 28,126 41,723 (33%) 48,878 73,217 (33%) Eucalyptus Sales 9,778 7,014 39% 18,610 20,251 (8%) Income from Revaluations 45,556 21,023 117% 90,994 42,723 113% Other Income 1,745 1,058 65% 3,936 (1,452) N/C Teak Sales Cost 22,939 38,842 (41%) 40,796 64,772 (37%) Eucalyptus Sales Cost 7,833 5,908 33% 16,370 18,656 (12%) Gross Margin 52,688 25,161 109% 102,370 53,253 92% Teak Gross Margin Without Revaluation 5,187 2,881 80% 8,082 8,445 (4%) Eucalyptus Gross Margin Without Revaluation 1,945 1,107 76% 2,240 1,595 40% Operating Income 29,883 12,532 138% 55,050 18,288 201% Debt 1,072,072 236,872 353% 1,072,072 236,872 353% Total Liabilities / Total Assets 0.3 0.2 90% 0.3 0.2 90% Debt / Equity 0.4 0.1 226% 0.4 0.1 226% Debt / Total Assets 0.2 0.1 163% 0.2 0.1 163% Debt / Current Assets 1.1 0.4 204% 1.1 0.4 204% N/C Not Comparable (1) Other Net Income considers subsidies, asset sales and other expenses. I. Income Statement Analysis Sales Quarterly results were positive, with profits in all business lines of the Company. 2Q15 sales amounted to MXP 38MM, 28% higher than those registered during 1Q15 and 22% below 2Q14. This variation responds to the Company’s Teak sale strategy, privileging price over volume. Furthermore, results were favored by an increase in exports to China and the sale of a more efficient mix of wood sizes, driven mainly by thick wood sold in India. In the case of Eucalyptus, after honoring all sales contracts of FOMEX, Proteak decided to modify its sales strategy and keep, from now on, all the wood in order to supply the MDF plant. 7 Paseo de la Reforma 725 Col. Lomas de Chapultepec, Miguel Hidalgo, CP. 11000, Distrito Federal, México. Net Quarterly Sales totaled MXP 84MM, growing 20% over the same quarter last year, mainly driven by an increase in income from wood revaluation. The latter totaled MXP 46MM and was determined by projecting the reasonable value of plantations based on their historical growth, according to international accounting standards. Net Sales include the sale of goods, revaluations resulting from the change in fair value of Biological Assets and Subsidies received Proteak prices continued to strengthen in Asia. 80% of the volume was sold at a price 23% above target. Furthermore, prices were 5% higher than those obtained in 2014. 8 Paseo de la Reforma 725 Col. Lomas de Chapultepec, Miguel Hidalgo, CP. 11000, Distrito Federal, México. During 2Q15, the Company delivered 127 Teak containers to Asia, all from Proteak’s plantations in Colombia. Sales Costs, General Expenses and Net Income Gross Profit for the quarter reached MXP 53MM, 109% above the 2Q14 figure, reflecting a combination of the following factors: higher sale prices, a more efficient product mix and a higher revaluation of biological assets. General Expenses totaled MXP 25MM, in line with the Company Budget; they are 81% higher than the ones registered during 2Q14, mainly driven by expenses related to the MDF Project. The increase in Net Sales, combined with an significant improvement in margins, the provision for revaluation of Biological Assets and a strict control of General Expenses, resulted in an Operating Income of MXP 30MM, 138% higher than the one registered the same quarter last year and 19% above 1Q15. Net Income for the quarter reached MXP 24MM. 9 Paseo de la Reforma 725 Col. Lomas de Chapultepec, Miguel Hidalgo, CP. 11000, Distrito Federal, México. II. Balance Sheet Analysis Assets As of June 2015, total assets of the Company amounted to MXP 4,354MM, 41% higher than year- end 2014, mainly driven by investment in the MDF plant, the capital increase that took place in May (MXP 375MM), and the exchange rate effect on Teak Assets. Among Current Assets, Other Assets stand out, with the reclassification of MXP 114MM in deferred payments of the MDF plant. Real Estate reflects a value increase of 12% compared to year-end 2014, the key factor being the construction of the main industrial structure of the MDF plant.