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Manifesto of the Graña y Montero Group’s Board of Directors

Wednesday, May 10, 2017 9:20 pm EDT

Dateline:

LIMA, PERU

Public Company Information:

NYSE:
GRAM
PE:
GRAMONC1

To all Peruvians,

Many fellow citizens wonder how a company like Graña y Montero could have been involved with a foreign company accused of corruption. Mainly because Graña y Montero is the most important Engineering and Construction company they know, and that their parents and grandparents know, because it has accompanied Peru’s development for nearly one hundred years, building its greatest public works and most emblematic buildings.

Although we do not have all the answers to this occurrence yet, the Board of Directors feels obliged to inform you that the Graña y Montero Group deeply regrets that you may feel the Company has disappointed you. The same feeling is addressed to the more than 28,000 employees, who have made the company the first Peruvian construction group, and who, every day, finish their work proud of contributing to the wellbeing and success of millions of families in the country.

The new Board of Directors, mostly composed of independent professionals, would like to communicate that in Graña y Montero we are strongly committed to transparency and integrity. With that in mind, we have made a first decision: to present the “Committed to the Future” Program, which will now be guiding all of our actions.

As we promptly announced to the market, and as a consequence of the current situation, we have launched an internal investigation, carried out by a renowned independent international company; this without prejudice to continue cooperating with the relevant authorities in the ongoing investigations.

“Committed to the Future” has already started and implies the following:

  1. We are creating an external Advisory Council led by renowned experts in the best practices of Good Corporate Governance.
  2. A new Risk, Compliance and Sustainability Committee has been created aimed to identify and neutralize the possible risks the Group may face, ensuring the faithful compliance of the most demanding Good Governance practices worldwide. This Committee is in charge of supervising the internal investigation, and shall report directly to the Board of Directors.
  3. We will strengthen the Anticorruption Programs training given to all employees, especially to the Directors and Officers, with the supervision of the most recognized international institutions.
  4. We are thoroughly reviewing our policies regarding all kinds of partnerships with other companies.
  5. We are strengthening our controls in the public bids with the Government.
  6. We are launching a new relationship policy with suppliers, clients and citizens to improve the thoroughness of our processes.

All the advances of these six initiatives will be constantly shared, since we feel obliged to keep you informed of their compliance.

In Graña y Montero, we are aware that any effort we make will not be enough to recover our good name and credibility. However, you can be sure that our Group is totally committed to rebuild trust among Peruvians and that it will remain being the great company that has made the country proud during many years.

Augusto Baertl M.
Chairman of the Board of Directors
Grupo Graña y Montero

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