The Audit Committee shall render an opinion on the proposal for appointment of independent auditors (concerning their reappointment or replacement) to be submitted by the Board of Directors to the Annual Shareholders’ Meeting; evaluating the auditors` backgrounds for the purpose of establishing whether they support its appointment from a technical and ethical point of view. Also, the Audit Committee shall request any additional and supplementary documents required in order to render an opinion regarding the appointment and to verify if the independence standards required under the applicable laws are met. A written statement regarding the independence commitment and reference to the policies adopted in such regard by the proposed Auditing Firm shall be required.

The Audit Committee shall verify whether the regular and alternate certifying auditors have filed with the Argentine Securities Commission the affidavits required under Section 12 of Decree 677/01 giving notice of any criminal, administrative or professional sanctions imposed on them.

The Audit Committee shall pre-approve the services to be rendered by the Independent Auditors, including audit and non-audit services, seeing that they fall within the scope of admitted services and overseeing that the independence standards set forth in the laws are met.

The Audit Committee shall take notice of the independent auditors’ work plan, being entitled to propose changes or additions, if it considered appropriate.

Through periodical meetings held for the treatment of accounting information, it shall analyze if there are any changes in accounting principles or in its application procedure, as well as issues that require more subjective criteria, or that stand out for their significance.

The Audit Committee shall monitor the development of the proposed tasks and recommendations or remarks given by the Independent Auditors.

The Audit Committee shall follow up the control testing tasks performed by the Independent Auditors under the Sarbanes Oxley Law, considering any material or significant deficiencies detected.

The Audit Committee shall render an opinion regarding the Independent Auditors’ performance at the time of submitting its Annual Management Report.

The Audit Committee shall review the Internal Auditors’ work plan and its scope, and may propose any changes or additional duties as deemed necessary.

The Audit Committee shall hold meetings with the Internal Auditors, with such frequency as determined by the Audit Committee, in order to follow up its activity and consider the reports resulting from reviews, comments made, and the level of implementation by the audited areas, in order to note the level of commitment assumed for the regularization of the observed.

The Audit Committee shall evaluate the Internal Auditors’ performance and shall render an opinion thereon at the time of the annual presentation of the Financial Statements.

The Audit Committee shall continue to supervise the functioning and on-going improvement of the internal control and administrative-accounting systems, their reliability and the financial information disclosed to the markets and control agencies. To such end, it shall hold periodical meetings with the management areas, the General Manager, and the Internal and Independent Auditors.

The Audit Committee shall follow up the tasks to be performed in connection with the Sarbanes Oxley Act certification and shall monitor the corrective measures to be adopted in case of detecting significant or material deficiencies, as defined in PCAOB Auditing Standard No. 5.

The Audit Committee shall promote the continued release of internal policies, rules and procedures that optimise the development of the transactions and the application of adequate controls.

The Audit Committee shall verify the development of the Implementation Plan of the International Financial Reporting Standards.

The Audit Committee shall schedule meetings with the CEO in order to consider relevant issues arising from Internal and External Audit Reports, that as a result of their significance justifies their consideration.

The Audit Committee shall receive information from the Chief Executive Officer (CEO) and/or the Chief Financial Officer (CFO) regarding any significant deficiency or material weakness in the design of controls over the administrative-accounting system.

The Audit Committee shall continue to supervise the development of risk management policies, focusing on aspects such as prevention of fraud, IT security, availability of lines for filing claims and any further matters recommended by good practices.

Meetings will be held with those areas which pose a special risk for the company in view of the matters within their authority.

The Audit Committee shall continue to monitor the process for reporting irregularities and conflicts of interest set forth in the Code of Ethics. The Audit Committee shall continue to receive, through the channel provided to such effect, anonymous or identified claims made in connection with accounting, external audit and internal control matters.

The Audit Committee through the quarterly reports submitted by the Ethics Committee will continue to report complaints or claims received on the enabled channels, the investigations made in each case and its subsequent resolutions evaluating simultaneously the implementation of the Company’s Code of Ethics.

The Audit Committee shall report to the market complete information regarding transactions in which there is conflict of interest with members of corporate bodies or controlling shareholders.

At the request of the Board of Directors or any of its members, the Audit Committee shall render a prior opinion on related parties involving significant amounts, taking into account, as concerns the definition of these concepts, the provisions of Decree 677/01 of the CNV. The opinion shall specify whether the transaction terms can be reasonably deemed to be consistent with the regular and customary conditions prevailing in the market, being able to request the advice of independent evaluators in order to support its opinion.

The Audit Committee shall disclose full information to the market regarding those transactions in which there is or could be an alleged conflict of interest in the company.

The Audit Committee shall render an opinion on the satisfaction of the legal requirements and the reasonableness of the conditions governing the issue of shares or convertible securities, in case of capital increases excluding or restricting pre-emptive subscription rights.

The Audit Committee shall render an opinion on the reasonableness of the fee proposals and option plans payable to the Directors and Managers made by the Board of Directors to the Shareholders’ Meeting.

The Audit Committee shall continue to enforce the Code of Conduct in effect and monitor the communication channels used to take notice of its contents and shall consider potential amendments or revisions thereto.